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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-21145
SPDR® INDEX SHARES FUNDS
(Exact name of registrant as specified in charter)
One Iron Street, Boston, Massachusetts, 02210
(Address of principal executive offices) (zip code)
Joshua A. Weinberg, Esq.
Managing Director and Managing Counsel
c/o SSGA Funds Management, Inc.
One Iron Street
Boston, Massachusetts 02210
(Name and address of agent for service)
Copy to:
W. John McGuire, Esq.
Morgan, Lewis & Bockius LLP
1111 Pennsylvania Avenue, N.W.
Washington, DC 20004
Registrant’s telephone number, including area code: (617) 664-7037
Date of fiscal year end: September 30
Date of reporting period: March 31, 2018
Table of Contents
Item 1. Report to Shareholders.
Table of Contents
Semi-Annual Report
March 31, 2018
SPDR® Index Shares Funds
SPDR Dow Jones Global Real Estate ETF
SPDR Dow Jones International Real Estate ETF
SPDR S&P China ETF
SPDR S&P Global Natural Resources ETF
SPDR S&P International Small Cap ETF
SPDR S&P North American Natural Resources ETF
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting www.spdrs.com. Please read the prospectus carefully before you invest.
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Table of Contents
Portfolio Statistics (Unaudited) | ||||
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3 | ||||
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Schedules of Investments (Unaudited) | ||||
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49 | ||||
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79 |
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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SPDR DOW JONES GLOBAL REAL ESTATE ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | ||||||||
Simon Property Group, Inc. REIT | 4.4 | % | |||||||
Prologis, Inc. REIT | 3.1 | ||||||||
Public Storage REIT | 2.8 | ||||||||
Mitsui Fudosan Co., Ltd. | 2.2 | ||||||||
AvalonBay Communities, Inc. REIT | 2.1 | ||||||||
Equity Residential REIT | 2.1 | ||||||||
Unibail-Rodamco SE REIT | 2.1 | ||||||||
Digital Realty Trust, Inc. REIT | 2.0 | ||||||||
Welltower, Inc. REIT | 1.9 | ||||||||
Boston Properties, Inc. REIT | 1.7 | ||||||||
TOTAL | 24.4 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of March 31, 2018
% of Net Assets | |||||||||
Real Estate Investment Trusts (REITs) | 87.3 | % | |||||||
Real Estate Management & Development | 11.9 | ||||||||
Equity Real Estate Investment Trusts (REITS) | 0.3 | ||||||||
Diversified Financial Services | 0.0 | * | |||||||
Short-Term Investments | 1.1 | ||||||||
Liabilities in Excess of Other Assets | (0.6 | ) | |||||||
TOTAL | 100.0 | % |
* | Amount shown represents less than 0.05% of net assets. |
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
1
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SPDR DOW JONES INTERNATIONAL REAL ESTATE ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | ||||||||
Mitsui Fudosan Co., Ltd. | 5.1 | % | |||||||
Unibail-Rodamco SE REIT | 4.9 | ||||||||
Link REIT | 4.0 | ||||||||
Scentre Group REIT | 3.4 | ||||||||
Westfield Corp. REIT | 2.7 | ||||||||
Goodman Group REIT | 2.2 | ||||||||
Land Securities Group PLC REIT | 2.1 | ||||||||
British Land Co. PLC REIT | 1.9 | ||||||||
Segro PLC REIT | 1.8 | ||||||||
Klepierre SA REIT | 1.8 | ||||||||
TOTAL | 29.9 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of March 31, 2018
% of Net Assets | |||||||||
Real Estate Investment Trusts (REITs) | 71.8 | % | |||||||
Real Estate Management & Development | 27.6 | ||||||||
Diversified Financial Services | 0.0 | * | |||||||
Short-Term Investments | 4.9 | ||||||||
Liabilities in Excess of Other Assets | (4.3 | ) | |||||||
TOTAL | 100.0 | % |
* | Amount shown represents less than 0.05% of net assets. |
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
2
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PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | ||||||||
Tencent Holdings, Ltd. | 15.1 | % | |||||||
Alibaba Group Holding, Ltd. ADR | 11.1 | ||||||||
China Construction Bank Corp. | 5.8 | ||||||||
Industrial & Commercial Bank of China, Ltd. | 3.5 | ||||||||
Baidu, Inc. ADR | 3.2 | ||||||||
China Mobile, Ltd. | 2.8 | ||||||||
Ping An Insurance Group Co. of China, Ltd. | 2.7 | ||||||||
Bank of China, Ltd. | 2.2 | ||||||||
JD.com, Inc. ADR | 1.7 | ||||||||
CNOOC, Ltd. | 1.3 | ||||||||
TOTAL | 49.4 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | |||||||||
Information Technology | 36.1 | % | |||||||
Financials | 22.9 | ||||||||
Consumer Discretionary | 10.2 | ||||||||
Real Estate | 6.4 | ||||||||
Industrials | 5.4 | ||||||||
Energy | 4.4 | ||||||||
Telecommunication Services | 3.7 | ||||||||
Health Care | 3.3 | ||||||||
Consumer Staples | 3.0 | ||||||||
Materials | 2.3 | ||||||||
Utilities | 2.2 | ||||||||
Short-Term Investments | 1.8 | ||||||||
Liabilities in Excess of Other Assets | (1.7 | ) | |||||||
TOTAL | 100.0 | % |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
3
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SPDR S&P GLOBAL NATURAL RESOURCES ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | ||||||||
Nutrien, Ltd. | 4.7 | % | |||||||
Exxon Mobil Corp. | 4.2 | ||||||||
BHP Billiton, Ltd. | 4.1 | ||||||||
TOTAL SA | 3.9 | ||||||||
Royal Dutch Shell PLC Class A | 3.9 | ||||||||
Glencore PLC | 3.6 | ||||||||
BP PLC | 3.6 | ||||||||
Monsanto Co. | 3.1 | ||||||||
UPM-Kymmene Oyj | 3.0 | ||||||||
Chevron Corp. | 2.9 | ||||||||
TOTAL | 37.0 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of March 31, 2018
% of Net Assets | |||||||||
Oil, Gas & Consumable Fuels | 32.2 | % | |||||||
Metals & Mining | 31.0 | ||||||||
Chemicals | 11.5 | ||||||||
Containers & Packaging | 8.5 | ||||||||
Paper & Forest Products | 8.2 | ||||||||
Food Products | 4.2 | ||||||||
Energy Equipment & Services | 1.9 | ||||||||
Real Estate Investment Trusts (REITs) | 1.9 | ||||||||
Short-Term Investments | 3.5 | ||||||||
Liabilities in Excess of Other Assets | (2.9 | ) | |||||||
TOTAL | 100.0 | % |
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
4
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SPDR S&P INTERNATIONAL SMALL CAP ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | ||||||||
Nikkon Holdings Co., Ltd. | 0.4 | % | |||||||
SillaJen, Inc. | 0.4 | ||||||||
Wihlborgs Fastigheter AB | 0.3 | ||||||||
Shochiku Co., Ltd. | 0.3 | ||||||||
Jenoptik AG | 0.3 | ||||||||
Canopy Growth Corp. | 0.3 | ||||||||
Barco NV | 0.3 | ||||||||
Toagosei Co., Ltd. | 0.2 | ||||||||
Colliers International Group, Inc. | 0.2 | ||||||||
Indus Holding AG | 0.2 | ||||||||
TOTAL | 2.9 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | |||||||||
Industrials | 20.7 | % | |||||||
Consumer Discretionary | 16.9 | ||||||||
Information Technology | 12.3 | ||||||||
Materials | 10.6 | ||||||||
Real Estate | 9.5 | ||||||||
Health Care | 8.9 | ||||||||
Financials | 8.2 | ||||||||
Consumer Staples | 6.0 | ||||||||
Energy | 3.8 | ||||||||
Utilities | 1.4 | ||||||||
Telecommunication Services | 0.7 | ||||||||
Short-Term Investments | 10.6 | ||||||||
Liabilities in Excess of Other Assets | (9.6 | ) | |||||||
TOTAL | 100.0 | % |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
5
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SPDR S&P NORTH AMERICAN NATURAL RESOURCES ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | ||||||||
Chevron Corp. | 10.4 | % | |||||||
Exxon Mobil Corp. | 9.9 | ||||||||
Monsanto Co. | 6.5 | ||||||||
Freeport-McMoRan, Inc. | 5.9 | ||||||||
Newmont Mining Corp. | 5.2 | ||||||||
Nutrien, Ltd. | 3.9 | ||||||||
Barrick Gold Corp. | 3.6 | ||||||||
ConocoPhillips | 3.4 | ||||||||
Teck Resources, Ltd. Class B | 3.2 | ||||||||
Franco-Nevada Corp. | 3.1 | ||||||||
TOTAL | 55.1 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of March 31, 2018
% of Net Assets | |||||||||
Oil, Gas & Consumable Fuels | 46.1 | % | |||||||
Metals & Mining | 33.8 | ||||||||
Chemicals | 13.9 | ||||||||
Food Products | 5.6 | ||||||||
Paper & Forest Products | 0.5 | ||||||||
Short-Term Investments | 4.3 | ||||||||
Liabilities in Excess of Other Assets | (4.2 | ) | |||||||
TOTAL | 100.0 | % |
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
6
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SPDR DOW JONES GLOBAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.5% | ||||||||
AUSTRALIA — 5.7% | ||||||||
BGP Holdings PLC (a) (b) | 1,313,937 | $ | — | |||||
BWP Trust REIT | 1,157,853 | 2,682,156 | ||||||
Charter Hall Retail REIT | 793,071 | 2,342,052 | ||||||
Dexus REIT | 2,402,555 | 17,175,640 | ||||||
Goodman Group REIT | 3,817,553 | 24,685,181 | ||||||
GPT Group REIT | 4,272,067 | 15,532,454 | ||||||
Investa Office Fund REIT | 1,195,545 | 3,952,454 | ||||||
Scentre Group REIT | 12,685,450 | 37,267,333 | ||||||
Vicinity Centres REIT | 7,648,020 | 14,138,057 | ||||||
Westfield Corp. REIT | 4,553,743 | 29,759,921 | ||||||
|
| |||||||
147,535,248 | ||||||||
|
| |||||||
AUSTRIA — 0.5% | ||||||||
CA Immobilien Anlagen AG | 173,521 | 5,791,808 | ||||||
IMMOFINANZ AG | 2,304,159 | 5,990,592 | ||||||
|
| |||||||
11,782,400 | ||||||||
|
| |||||||
BELGIUM — 0.2% | ||||||||
Cofinimmo SA REIT | 46,606 | 6,041,360 | ||||||
|
| |||||||
BRAZIL — 0.3% | ||||||||
BR Malls Participacoes SA | 2,073,121 | 7,266,777 | ||||||
|
| |||||||
CANADA — 1.4% | ||||||||
Artis Real Estate Investment Trust | 173,554 | 1,829,435 | ||||||
Boardwalk Real Estate Investment Trust | 53,836 | 1,848,610 | ||||||
Canadian Apartment Properties REIT | 163,012 | 4,697,224 | ||||||
Canadian Real Estate Investment Trust | 86,188 | 3,356,602 | ||||||
Dream Office Real Estate Investment Trust | 84,625 | 1,532,669 | ||||||
First Capital Realty, Inc. (c) | 393,638 | 6,213,328 | ||||||
H&R Real Estate Investment Trust | 336,998 | 5,497,047 | ||||||
RioCan Real Estate Investment Trust | 375,552 | 6,886,212 | ||||||
SmartCentres Real Estate Investment Trust | 153,793 | 3,472,495 | ||||||
|
| |||||||
35,333,622 | ||||||||
|
| |||||||
FRANCE — 4.3% | ||||||||
Fonciere Des Regions REIT | 127,354 | 14,041,554 | ||||||
Gecina SA REIT | 114,627 | 19,891,441 | ||||||
Klepierre SA REIT | 494,061 | 19,899,592 | ||||||
Mercialys SA REIT | 132,805 | 2,549,586 | ||||||
Unibail-Rodamco SE REIT | 236,676 | 54,038,275 | ||||||
|
| |||||||
110,420,448 | ||||||||
|
|
See accompanying notes to financial statements.
7
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SPDR DOW JONES GLOBAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
GERMANY — 1.0% | ||||||||
Deutsche EuroShop AG | 120,044 | $ | 4,399,558 | |||||
Grand City Properties SA | 250,344 | 5,979,140 | ||||||
LEG Immobilien AG | 149,415 | 16,784,465 | ||||||
|
| |||||||
27,163,163 | ||||||||
|
| |||||||
HONG KONG — 3.3% | ||||||||
Champion REIT | 4,881,462 | 3,476,852 | ||||||
Hang Lung Properties, Ltd. | 4,846,018 | 11,287,184 | ||||||
Hongkong Land Holdings, Ltd. | 2,801,000 | 19,298,890 | ||||||
Hysan Development Co., Ltd. | 1,216,731 | 6,433,793 | ||||||
Link REIT | 5,169,682 | 44,132,958 | ||||||
|
| |||||||
84,629,677 | ||||||||
|
| |||||||
ITALY — 0.1% | ||||||||
Beni Stabili SpA SIIQ | 2,436,157 | 2,025,370 | ||||||
|
| |||||||
JAPAN — 11.9% | ||||||||
Activia Properties, Inc. REIT | 1,670 | 7,451,011 | ||||||
Advance Residence Investment Corp. REIT | 3,209 | 8,134,898 | ||||||
Aeon Mall Co., Ltd. | 269,900 | 5,611,179 | ||||||
AEON REIT Investment Corp. | 3,534 | 3,728,395 | ||||||
Daiwa House REIT Investment Corp. | 4,096 | 9,875,077 | ||||||
Daiwa Office Investment Corp. | 743 | 4,296,615 | ||||||
Frontier Real Estate Investment Corp. | 1,194 | 4,895,007 | ||||||
Fukuoka REIT Corp. | 1,930 | 3,014,321 | ||||||
GLP J - REIT | 8,042 | 8,870,020 | ||||||
Heiwa Real Estate Co., Ltd. | 79,000 | 1,508,688 | ||||||
Hoshino Resorts REIT, Inc. | 510 | 2,680,677 | ||||||
Hulic Co., Ltd. | 1,151,300 | 12,427,761 | ||||||
Hulic Reit, Inc. | 2,338 | 3,561,410 | ||||||
Industrial & Infrastructure Fund Investment Corp. REIT | 4,048 | 4,537,110 | ||||||
Invincible Investment Corp. REIT | 9,993 | 4,594,807 | ||||||
Japan Excellent, Inc. | 3,134 | 4,051,951 | ||||||
Japan Hotel REIT Investment Corp. | 9,527 | 6,736,534 | ||||||
Japan Logistics Fund, Inc. REIT | 2,193 | 4,429,303 | ||||||
Japan Prime Realty Investment Corp. REIT | 2,193 | 7,938,928 | ||||||
Japan Real Estate Investment Corp. REIT | 3,116 | 16,144,015 | ||||||
Japan Rental Housing Investments, Inc. | 3,949 | 3,044,833 | ||||||
Japan Retail Fund Investment Corp. REIT | 6,228 | 12,063,639 | ||||||
Kenedix Office Investment Corp. REIT | 961 | 5,846,422 | ||||||
Kenedix Residential Next Investment Corp. | 1,900 | 2,713,775 | ||||||
Kenedix Retail REIT Corp. | 1,217 | 2,649,135 | ||||||
Leopalace21 Corp. | 598,900 | 4,876,797 | ||||||
MCUBS MidCity Investment Corp. | 3,964 | 2,892,397 |
See accompanying notes to financial statements.
8
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SPDR DOW JONES GLOBAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Mitsui Fudosan Co., Ltd. | 2,362,600 | $ | 56,249,207 | |||||
Mori Hills REIT Investment Corp. | 3,528 | 4,465,151 | ||||||
Mori Trust Sogo REIT, Inc. | 2,314 | 3,398,654 | ||||||
Nippon Building Fund, Inc. REIT | 3,362 | 18,588,209 | ||||||
Nippon Prologis REIT, Inc. | 5,190 | 11,229,140 | ||||||
Nomura Real Estate Master Fund, Inc. | 9,954 | 13,824,220 | ||||||
NTT Urban Development Corp. | 259,700 | 3,142,773 | ||||||
Orix JREIT, Inc. REIT | 6,373 | 9,899,573 | ||||||
Premier Investment Corp. | 3,156 | 3,317,732 | ||||||
Tokyu Fudosan Holdings Corp. | 1,218,700 | 8,674,715 | ||||||
Tokyu REIT, Inc. | 2,355 | 3,193,145 | ||||||
United Urban Investment Corp. REIT | 7,267 | 11,356,609 | ||||||
Unizo Holdings Co., Ltd. | 54,000 | 1,310,014 | ||||||
|
| |||||||
307,223,847 | ||||||||
|
| |||||||
MEXICO — 0.4% | ||||||||
Fibra Uno Administracion SA de CV REIT | 7,856,870 | 11,776,589 | ||||||
|
| |||||||
NETHERLANDS — 0.3% | ||||||||
Eurocommercial Properties NV | 118,130 | 4,875,672 | ||||||
Wereldhave NV (c) | 97,344 | 3,718,458 | ||||||
|
| |||||||
8,594,130 | ||||||||
|
| |||||||
PHILIPPINES — 0.7% | ||||||||
SM Prime Holdings, Inc. | 27,657,100 | 17,862,954 | ||||||
|
| |||||||
ROMANIA — 0.5% | ||||||||
NEPI Rockcastle PLC (c) | 1,382,467 | 13,417,762 | ||||||
|
| |||||||
SINGAPORE — 2.8% | ||||||||
Ascendas REIT | 5,752,020 | 11,536,500 | ||||||
CapitaLand Commercial Trust | 6,230,508 | 8,695,058 | ||||||
CapitaLand Mall Trust REIT | 6,461,104 | 10,248,681 | ||||||
CapitaLand, Ltd. | 6,053,551 | 16,480,727 | ||||||
Keppel REIT (c) | 4,335,612 | 4,000,679 | ||||||
Mapletree Commercial Trust REIT | 4,569,700 | 5,471,234 | ||||||
Mapletree Industrial Trust | 2,904,800 | 4,496,869 | ||||||
Mapletree Logistics Trust | 4,945,073 | 4,638,481 | ||||||
Suntec Real Estate Investment Trust | 5,343,995 | 7,702,395 | ||||||
|
| |||||||
73,270,624 | ||||||||
|
| |||||||
SOUTH AFRICA — 1.3% | ||||||||
Growthpoint Properties, Ltd. REIT | 6,589,638 | 15,800,115 | ||||||
Hyprop Investments, Ltd. | 597,804 | 5,460,015 | ||||||
Redefine Properties, Ltd. REIT | 12,636,271 | 12,360,323 | ||||||
|
| |||||||
33,620,453 | ||||||||
|
|
See accompanying notes to financial statements.
9
Table of Contents
SPDR DOW JONES GLOBAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SPAIN — 0.8% | ||||||||
Inmobiliaria Colonial Socimi SA REIT | 765,708 | $ | 8,852,039 | |||||
Martinsa Fadesa SA (a) (b) | 178 | — | ||||||
Merlin Properties Socimi SA | 793,477 | 12,139,674 | ||||||
|
| |||||||
20,991,713 | ||||||||
|
| |||||||
SWEDEN — 0.8% | ||||||||
Castellum AB (c) | 654,891 | 10,674,001 | ||||||
Fabege AB | 334,008 | 7,210,757 | ||||||
Kungsleden AB | 450,307 | 2,997,637 | ||||||
|
| |||||||
20,882,395 | ||||||||
|
| |||||||
SWITZERLAND — 1.0% | ||||||||
PSP Swiss Property AG | 96,805 | 9,421,706 | ||||||
Swiss Prime Site AG (b) | 170,147 | 16,426,577 | ||||||
|
| |||||||
25,848,283 | ||||||||
|
| |||||||
THAILAND — 0.3% | ||||||||
Central Pattana PCL NVDR | 3,186,300 | 7,998,866 | ||||||
|
| |||||||
UNITED KINGDOM — 5.0% | ||||||||
British Land Co. PLC REIT | 2,366,553 | 21,313,119 | ||||||
Capital & Counties Properties PLC | 1,787,083 | 6,818,823 | ||||||
Derwent London PLC | 263,535 | 11,467,688 | ||||||
Grainger PLC | 999,171 | 4,050,731 | ||||||
Great Portland Estates PLC REIT | 669,110 | 6,250,324 | ||||||
Hammerson PLC REIT | 1,887,349 | 14,206,878 | ||||||
Intu Properties PLC REIT | 2,075,178 | 6,046,271 | ||||||
Land Securities Group PLC REIT | 1,789,133 | 23,519,296 | ||||||
Segro PLC REIT | 2,367,334 | 19,965,227 | ||||||
Shaftesbury PLC | 584,193 | 8,047,548 | ||||||
UNITE Group PLC REIT | 626,708 | 6,958,440 | ||||||
|
| |||||||
128,644,345 | ||||||||
|
| |||||||
UNITED STATES — 56.9% | ||||||||
Acadia Realty Trust REIT | 198,560 | 4,884,576 | ||||||
Alexandria Real Estate Equities, Inc. REIT | 241,141 | 30,116,099 | ||||||
American Assets Trust, Inc. REIT | 99,575 | 3,326,801 | ||||||
American Campus Communities, Inc. REIT | 325,331 | 12,564,283 | ||||||
American Homes 4 Rent Class A, REIT | 598,825 | 12,024,406 | ||||||
Apartment Investment & Management Co. Class A, REIT | 376,125 | 15,327,094 | ||||||
Apple Hospitality REIT, Inc. | 502,774 | 8,833,739 | ||||||
Ashford Hospitality Prime, Inc. REIT | 81,436 | 791,558 | ||||||
Ashford Hospitality Trust, Inc. REIT | 218,546 | 1,411,807 | ||||||
AvalonBay Communities, Inc. REIT | 329,011 | 54,109,149 | ||||||
Boston Properties, Inc. REIT | 367,727 | 45,311,321 |
See accompanying notes to financial statements.
10
Table of Contents
SPDR DOW JONES GLOBAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Brandywine Realty Trust REIT | 415,948 | $ | 6,605,254 | |||||
Brixmor Property Group, Inc. REIT | 724,813 | 11,053,398 | ||||||
Camden Property Trust REIT | 220,609 | 18,570,866 | ||||||
CBL & Associates Properties, Inc. REIT (c) | 410,614 | 1,712,260 | ||||||
Cedar Realty Trust, Inc. REIT | 183,980 | 724,881 | ||||||
Chatham Lodging Trust REIT | 106,583 | 2,041,064 | ||||||
Chesapeake Lodging Trust REIT | 144,331 | 4,013,845 | ||||||
Columbia Property Trust, Inc. REIT | 284,545 | 5,821,791 | ||||||
Corporate Office Properties Trust REIT | 239,944 | 6,197,753 | ||||||
Cousins Properties, Inc. REIT | 1,007,167 | 8,742,210 | ||||||
CubeSmart REIT | 433,501 | 12,224,728 | ||||||
DCT Industrial Trust, Inc. REIT | 223,163 | 12,573,003 | ||||||
DDR Corp. REIT | 735,629 | 5,392,161 | ||||||
DiamondRock Hospitality Co. REIT | 475,691 | 4,966,214 | ||||||
Digital Realty Trust, Inc. REIT | 489,526 | 51,586,250 | ||||||
Douglas Emmett, Inc. REIT | 379,338 | 13,944,465 | ||||||
Duke Realty Corp. REIT | 850,151 | 22,511,998 | ||||||
Easterly Government Properties, Inc. REIT (c) | 106,378 | 2,170,111 | ||||||
EastGroup Properties, Inc. REIT | 82,865 | 6,849,621 | ||||||
Education Realty Trust, Inc. REIT | 181,889 | 5,956,865 | ||||||
Equity Commonwealth REIT (b) | 297,626 | 9,128,189 | ||||||
Equity LifeStyle Properties, Inc. REIT | 210,344 | 18,461,893 | ||||||
Equity Residential REIT | 877,338 | 54,061,568 | ||||||
Essex Property Trust, Inc. REIT | 157,353 | 37,871,720 | ||||||
Extra Space Storage, Inc. REIT | 300,152 | 26,221,279 | ||||||
Federal Realty Investment Trust REIT | 174,622 | 20,275,360 | ||||||
First Industrial Realty Trust, Inc. REIT | 285,576 | 8,347,386 | ||||||
Forest City Realty Trust, Inc. Class A, REIT | 634,685 | 12,858,718 | ||||||
Franklin Street Properties Corp. REIT | 256,684 | 2,158,712 | ||||||
GGP, Inc. REIT | 1,498,641 | 30,662,195 | ||||||
HCP, Inc. REIT | 1,118,088 | 25,973,184 | ||||||
Healthcare Realty Trust, Inc. REIT | 299,477 | 8,298,508 | ||||||
Hersha Hospitality Trust REIT (c) | 87,769 | 1,571,065 | ||||||
Highwoods Properties, Inc. REIT | 247,369 | 10,839,710 | ||||||
Hospitality Properties Trust REIT | 391,659 | 9,924,639 | ||||||
Host Hotels & Resorts, Inc. REIT | 1,748,868 | 32,598,899 | ||||||
Hudson Pacific Properties, Inc. REIT | 369,337 | 12,014,533 | ||||||
Independence Realty Trust, Inc. REIT | 196,864 | 1,807,212 | ||||||
Invitation Homes, Inc. REIT | 678,736 | 15,495,543 | ||||||
JBG SMITH Properties REIT | 221,878 | 7,479,507 | ||||||
Kilroy Realty Corp. REIT | 235,597 | 16,717,963 | ||||||
Kimco Realty Corp. REIT | 1,012,595 | 14,581,368 | ||||||
Kite Realty Group Trust REIT | 197,665 | 3,010,438 | ||||||
LaSalle Hotel Properties REIT | 268,926 | 7,801,543 |
See accompanying notes to financial statements.
11
Table of Contents
SPDR DOW JONES GLOBAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Liberty Property Trust REIT | 350,909 | $ | 13,941,615 | |||||
Life Storage, Inc. REIT | 110,510 | 9,229,795 | ||||||
LTC Properties, Inc. REIT | 95,595 | 3,632,610 | ||||||
Macerich Co. REIT | 258,008 | 14,453,608 | ||||||
Mack-Cali Realty Corp. REIT | 217,404 | 3,632,821 | ||||||
Mid-America Apartment Communities, Inc. REIT | 270,660 | 24,695,018 | ||||||
National Storage Affiliates Trust REIT | 119,428 | 2,995,254 | ||||||
NorthStar Realty Europe Corp. REIT | 133,930 | 1,743,769 | ||||||
Paramount Group, Inc. REIT | 484,770 | 6,903,125 | ||||||
Park Hotels & Resorts, Inc. REIT | 478,815 | 12,937,581 | ||||||
Pebblebrook Hotel Trust REIT (c) | 163,572 | 5,618,698 | ||||||
Pennsylvania Real Estate Investment Trust (c) | 166,343 | 1,605,210 | ||||||
Piedmont Office Realty Trust, Inc. Class A, REIT | 320,522 | 5,637,982 | ||||||
Prologis, Inc. REIT | 1,270,453 | 80,025,834 | ||||||
PS Business Parks, Inc. REIT | 47,234 | 5,339,331 | ||||||
Public Storage REIT | 357,079 | 71,555,061 | ||||||
QTS Realty Trust, Inc. Class A, REIT | 121,244 | 4,391,458 | ||||||
Quality Care Properties, Inc. REIT (b) | 222,364 | 4,320,533 | ||||||
Ramco-Gershenson Properties Trust REIT | 189,928 | 2,347,510 | ||||||
Regency Centers Corp. REIT | 353,840 | 20,869,483 | ||||||
Retail Opportunity Investments Corp. REIT (c) | 265,249 | 4,686,950 | ||||||
Retail Properties of America, Inc. Class A, REIT | 539,306 | 6,288,308 | ||||||
Rexford Industrial Realty, Inc. REIT | 187,821 | 5,407,367 | ||||||
RLJ Lodging Trust REIT | 419,020 | 8,145,749 | ||||||
Ryman Hospitality Properties, Inc. REIT | 121,706 | 9,426,130 | ||||||
Saul Centers, Inc. REIT | 29,773 | 1,517,530 | ||||||
Senior Housing Properties Trust REIT | 569,607 | 8,920,046 | ||||||
Seritage Growth Properties Class A, REIT (c) | 62,604 | 2,225,572 | ||||||
Simon Property Group, Inc. REIT | 741,662 | 114,475,530 | ||||||
SL Green Realty Corp. REIT | 215,055 | 20,823,776 | ||||||
Summit Hotel Properties, Inc. REIT | 252,408 | 3,435,273 | ||||||
Sun Communities, Inc. REIT | 188,887 | 17,258,605 | ||||||
Sunstone Hotel Investors, Inc. REIT | 540,428 | 8,225,314 | ||||||
Tanger Factory Outlet Centers, Inc. REIT (c) | 225,344 | 4,957,568 | ||||||
Taubman Centers, Inc. REIT | 145,586 | 8,285,299 | ||||||
Tier REIT, Inc. | 114,270 | 2,111,710 | ||||||
UDR, Inc. REIT | 638,643 | 22,748,464 | ||||||
Universal Health Realty Income Trust REIT | 30,374 | 1,825,477 | ||||||
Urban Edge Properties REIT | 251,008 | 5,359,021 | ||||||
Ventas, Inc. REIT | 848,636 | 42,032,941 | ||||||
Vornado Realty Trust REIT | 411,792 | 27,713,602 | ||||||
Washington Prime Group, Inc. REIT (c) | 438,668 | 2,925,916 | ||||||
Washington Real Estate Investment Trust | 186,752 | 5,098,330 | ||||||
Weingarten Realty Investors REIT | 286,404 | 8,042,224 |
See accompanying notes to financial statements.
12
Table of Contents
SPDR DOW JONES GLOBAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Welltower, Inc. REIT | 882,543 | $ | 48,036,815 | |||||
Xenia Hotels & Resorts, Inc. REIT | 253,125 | 4,991,625 | ||||||
|
| |||||||
1,471,362,141 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 2,573,692,167 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 1.1% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (d) (e) | 2,854,482 | 2,854,482 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (d) (f) | 25,171,435 | 25,171,435 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 28,025,917 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 100.6% | 2,601,718,084 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.6)% | (14,820,924 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 2,586,897,160 | ||||||
|
|
(a) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $0, representing 0.0% of the Fund’s net assets. |
(b) | Non-income producing security. |
(c) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(d) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(e) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(f) | Investment of cash collateral for securities loaned. |
NVDR =Non Voting Depositary Receipt
REIT =Real Estate Investment Trust
See accompanying notes to financial statements.
13
Table of Contents
SPDR DOW JONES GLOBAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | $ | 147,535,248 | $ | — | $ | 0 | (a) | $ | 147,535,248 | |||||||||||
Austria | 11,782,400 | — | — | 11,782,400 | ||||||||||||||||
Belgium | 6,041,360 | — | — | 6,041,360 | ||||||||||||||||
Brazil | 7,266,777 | — | — | 7,266,777 | ||||||||||||||||
Canada | 35,333,622 | — | — | 35,333,622 | ||||||||||||||||
France | 110,420,448 | — | — | 110,420,448 | ||||||||||||||||
Germany | 27,163,163 | — | — | 27,163,163 | ||||||||||||||||
Hong Kong | 84,629,677 | — | — | 84,629,677 | ||||||||||||||||
Italy | 2,025,370 | — | — | 2,025,370 | ||||||||||||||||
Japan | 307,223,847 | — | — | 307,223,847 | ||||||||||||||||
Mexico | 11,776,589 | — | — | 11,776,589 | ||||||||||||||||
Netherlands | 8,594,130 | — | — | 8,594,130 | ||||||||||||||||
Philippines | 17,862,954 | — | — | 17,862,954 | ||||||||||||||||
Romania | 13,417,762 | — | — | 13,417,762 | ||||||||||||||||
Singapore | 73,270,624 | — | — | 73,270,624 | ||||||||||||||||
South Africa | 33,620,453 | — | — | 33,620,453 | ||||||||||||||||
Spain | 20,991,713 | — | 0 | (a) | 20,991,713 | |||||||||||||||
Sweden | 20,882,395 | — | — | 20,882,395 | ||||||||||||||||
Switzerland | 25,848,283 | — | — | 25,848,283 | ||||||||||||||||
Thailand | 7,998,866 | — | — | 7,998,866 | ||||||||||||||||
United Kingdom | 128,644,345 | — | — | 128,644,345 | ||||||||||||||||
United States | 1,471,362,141 | — | — | 1,471,362,141 | ||||||||||||||||
Short-Term Investments | 28,025,917 | — | — | 28,025,917 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 2,601,718,084 | $ | — | $ | 0 | $ | 2,601,718,084 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
See accompanying notes to financial statements.
14
Table of Contents
SPDR DOW JONES GLOBAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 3,970,115 | $3,970,115 | $110,230,236 | $111,345,869 | $— | $— | 2,854,482 | $2,854,482 | $34,687 | ||||||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 22,923,440 | 22,923,440 | 236,112,790 | 233,864,795 | — | — | 25,171,435 | 25,171,435 | 101,601 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $26,893,555 | $346,343,026 | $345,210,664 | $— | $— | $28,025,917 | $136,288 | ||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
15
Table of Contents
SPDR DOW JONES INTERNATIONAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.4% | ||||||||
AUSTRALIA — 13.3% | ||||||||
BGP Holdings PLC (a) (b) | 32,410,441 | $ | — | |||||
BWP Trust REIT | 3,643,532 | 8,440,209 | ||||||
Charter Hall Retail REIT | 2,482,874 | 7,332,281 | ||||||
Dexus REIT | 7,502,003 | 53,631,113 | ||||||
Goodman Group REIT | 11,917,483 | 77,061,203 | ||||||
GPT Group REIT | 13,341,046 | 48,505,601 | ||||||
Investa Office Fund REIT | 3,754,925 | 12,413,728 | ||||||
Scentre Group REIT | 39,593,025 | 116,316,446 | ||||||
Vicinity Centres REIT | 23,884,856 | 44,153,317 | ||||||
Westfield Corp. REIT | 14,214,334 | 92,894,452 | ||||||
|
| |||||||
460,748,350 | ||||||||
|
| |||||||
AUSTRIA — 1.1% | ||||||||
CA Immobilien Anlagen AG | 542,795 | 18,117,488 | ||||||
IMMOFINANZ AG | 7,207,986 | 18,740,070 | ||||||
|
| |||||||
36,857,558 | ||||||||
|
| |||||||
BELGIUM — 0.5% | ||||||||
Cofinimmo SA REIT | 145,762 | 18,894,579 | ||||||
|
| |||||||
BRAZIL — 0.7% | ||||||||
BR Malls Participacoes SA | 6,615,416 | 23,188,590 | ||||||
|
| |||||||
CANADA — 3.2% | ||||||||
Artis Real Estate Investment Trust | 546,114 | 5,756,594 | ||||||
Boardwalk Real Estate Investment Trust | 169,796 | 5,830,420 | ||||||
Canadian Apartment Properties REIT | 497,934 | 14,348,069 | ||||||
Canadian Real Estate Investment Trust | 266,058 | 10,361,662 | ||||||
Dream Office Real Estate Investment Trust | 272,585 | 4,936,870 | ||||||
First Capital Realty, Inc. | 1,216,038 | 19,194,395 | ||||||
H&R Real Estate Investment Trust | 1,054,268 | 17,197,018 | ||||||
RioCan Real Estate Investment Trust | 1,174,237 | 21,531,094 | ||||||
SmartCentres Real Estate Investment Trust | 482,992 | 10,905,463 | ||||||
|
| |||||||
110,061,585 | ||||||||
|
| |||||||
FRANCE — 10.0% | ||||||||
Fonciere Des Regions REIT | 400,309 | 44,136,506 | ||||||
Gecina SA REIT | 357,894 | 62,106,025 | ||||||
Klepierre SA REIT | 1,542,481 | 62,127,435 | ||||||
Mercialys SA REIT | 408,399 | 7,840,430 | ||||||
Unibail-Rodamco SE REIT (c) | 738,618 | 168,642,542 | ||||||
|
| |||||||
344,852,938 | ||||||||
|
|
See accompanying notes to financial statements.
16
Table of Contents
SPDR DOW JONES INTERNATIONAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
GERMANY — 2.5% | ||||||||
Deutsche EuroShop AG | 380,997 | $ | 13,963,366 | |||||
Grand City Properties SA | 782,994 | 18,700,790 | ||||||
LEG Immobilien AG | 466,584 | 52,413,499 | ||||||
|
| |||||||
85,077,655 | ||||||||
|
| |||||||
HONG KONG — 7.6% | ||||||||
Champion REIT | 15,347,174 | 10,931,119 | ||||||
Hang Lung Properties, Ltd. | 15,046,755 | 35,046,403 | ||||||
Hongkong Land Holdings, Ltd. | 8,745,500 | 60,256,495 | ||||||
Hysan Development Co., Ltd. | 3,812,846 | 20,161,450 | ||||||
Link REIT | 16,136,855 | 137,758,404 | ||||||
|
| |||||||
264,153,871 | ||||||||
|
| |||||||
ITALY — 0.2% | ||||||||
Beni Stabili SpA SIIQ | 7,681,391 | 6,386,146 | ||||||
|
| |||||||
JAPAN — 27.7% | ||||||||
Activia Properties, Inc. REIT | 5,200 | 23,200,752 | ||||||
Advance Residence Investment Corp. REIT | 10,021 | 25,403,494 | ||||||
Aeon Mall Co., Ltd. | 843,740 | 17,541,224 | ||||||
AEON REIT Investment Corp. (c) | 11,267 | 11,886,764 | ||||||
Daiwa House REIT Investment Corp. | 12,789 | 30,833,094 | ||||||
Daiwa Office Investment Corp. | 2,303 | 13,317,771 | ||||||
Frontier Real Estate Investment Corp. | 3,686 | 15,111,387 | ||||||
Fukuoka REIT Corp. (c) | 6,015 | 9,394,372 | ||||||
GLP J - REIT | 25,132 | 27,719,639 | ||||||
Heiwa Real Estate Co., Ltd. | 250,300 | 4,780,059 | ||||||
Hoshino Resorts REIT, Inc. (c) | 1,583 | 8,320,611 | ||||||
Hulic Co., Ltd. | 3,596,390 | 38,821,398 | ||||||
Hulic Reit, Inc. | 7,441 | 11,334,669 | ||||||
Industrial & Infrastructure Fund Investment Corp. REIT | 12,759 | 14,300,638 | ||||||
Invincible Investment Corp. REIT | 31,322 | 14,401,935 | ||||||
Japan Excellent, Inc. | 9,720 | 12,566,996 | ||||||
Japan Hotel REIT Investment Corp. | 29,794 | 21,067,314 | ||||||
Japan Logistics Fund, Inc. REIT | 6,862 | 13,859,498 | ||||||
Japan Prime Realty Investment Corp. REIT | 6,854 | 24,812,318 | ||||||
Japan Real Estate Investment Corp. REIT | 9,734 | 50,431,913 | ||||||
Japan Rental Housing Investments, Inc. | 12,098 | 9,328,030 | ||||||
Japan Retail Fund Investment Corp. REIT | 19,464 | 37,701,777 | ||||||
Kenedix Office Investment Corp. REIT | 3,045 | 18,524,824 | ||||||
Kenedix Residential Next Investment Corp. | 5,871 | 8,385,566 | ||||||
Kenedix Retail REIT Corp. | 3,766 | 8,197,734 | ||||||
Leopalace21 Corp. | 1,879,200 | 15,302,183 | ||||||
MCUBS MidCity Investment Corp. | 12,272 | 8,954,464 |
See accompanying notes to financial statements.
17
Table of Contents
SPDR DOW JONES INTERNATIONAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Mitsui Fudosan Co., Ltd. | 7,373,400 | $ | 175,547,238 | |||||
Mori Hills REIT Investment Corp. | 11,068 | 14,008,019 | ||||||
Mori Trust Sogo REIT, Inc. | 7,152 | 10,504,395 | ||||||
Nippon Building Fund, Inc. REIT | 10,499 | 58,048,068 | ||||||
Nippon Prologis REIT, Inc. | 16,194 | 35,037,512 | ||||||
Nomura Real Estate Master Fund, Inc. | 31,087 | 43,173,953 | ||||||
NTT Urban Development Corp. | 803,031 | 9,717,921 | ||||||
Orix JREIT, Inc. REIT | 19,912 | 30,930,535 | ||||||
Premier Investment Corp. | 9,967 | 10,477,768 | ||||||
Tokyu Fudosan Holdings Corp. | 3,808,600 | 27,109,640 | ||||||
Tokyu REIT, Inc. | 7,232 | 9,805,871 | ||||||
United Urban Investment Corp. REIT | 22,706 | 35,484,130 | ||||||
Unizo Holdings Co., Ltd. (c) | 171,100 | 4,150,804 | ||||||
|
| |||||||
959,496,278 | ||||||||
|
| |||||||
MEXICO — 1.0% | ||||||||
Fibra Uno Administracion SA de CV REIT | 24,405,275 | 36,580,838 | ||||||
|
| |||||||
NETHERLANDS — 0.8% | ||||||||
Eurocommercial Properties NV | 368,731 | 15,218,923 | ||||||
Wereldhave NV (c) | 297,307 | 11,356,876 | ||||||
|
| |||||||
26,575,799 | ||||||||
|
| |||||||
PHILIPPINES — 1.6% | ||||||||
SM Prime Holdings, Inc. | 85,875,400 | 55,464,539 | ||||||
|
| |||||||
ROMANIA — 1.2% | ||||||||
NEPI Rockcastle PLC | 4,294,860 | 41,684,473 | ||||||
|
| |||||||
SINGAPORE — 6.6% | ||||||||
Ascendas REIT | 17,845,268 | 35,791,242 | ||||||
CapitaLand Commercial Trust | 19,298,229 | 26,931,869 | ||||||
CapitaLand Mall Trust REIT | 20,026,447 | 31,766,194 | ||||||
CapitaLand, Ltd. | 18,903,097 | 51,463,476 | ||||||
Keppel REIT (c) | 13,312,953 | 12,284,506 | ||||||
Mapletree Commercial Trust REIT | 14,110,700 | 16,894,531 | ||||||
Mapletree Industrial Trust | 9,092,500 | 14,075,936 | ||||||
Mapletree Logistics Trust (c) | 15,436,902 | 14,479,821 | ||||||
Suntec Real Estate Investment Trust | 16,601,776 | 23,928,435 | ||||||
|
| |||||||
227,616,010 | ||||||||
|
| |||||||
SOUTH AFRICA — 3.0% | ||||||||
Growthpoint Properties, Ltd. REIT | 20,564,270 | 49,307,388 | ||||||
Hyprop Investments, Ltd. | 1,844,337 | 16,845,165 | ||||||
Redefine Properties, Ltd. REIT | 39,470,399 | 38,608,454 | ||||||
|
| |||||||
104,761,007 | ||||||||
|
|
See accompanying notes to financial statements.
18
Table of Contents
SPDR DOW JONES INTERNATIONAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SPAIN — 1.9% | ||||||||
Inmobiliaria Colonial Socimi SA REIT | 2,393,023 | $ | 27,664,768 | |||||
Martinsa Fadesa SA (a) (b) | 35,998 | — | ||||||
Merlin Properties Socimi SA | 2,478,652 | 37,921,738 | ||||||
|
| |||||||
65,586,506 | ||||||||
|
| |||||||
SWEDEN — 1.9% | ||||||||
Castellum AB (c) | 2,030,063 | 33,087,787 | ||||||
Fabege AB | 1,044,139 | 22,541,473 | ||||||
Kungsleden AB | 1,416,579 | 9,429,990 | ||||||
|
| |||||||
65,059,250 | ||||||||
|
| |||||||
SWITZERLAND — 2.3% | ||||||||
PSP Swiss Property AG | 299,878 | 29,186,121 | ||||||
Swiss Prime Site AG (b) | 531,332 | 51,296,620 | ||||||
|
| |||||||
80,482,741 | ||||||||
|
| |||||||
THAILAND — 0.7% | ||||||||
Central Pattana PCL NVDR | 10,000,859 | 25,106,090 | ||||||
|
| |||||||
UNITED KINGDOM — 11.6% | ||||||||
British Land Co. PLC REIT | 7,388,670 | 66,542,184 | ||||||
Capital & Counties Properties PLC (c) | 5,587,721 | 21,320,598 | ||||||
Derwent London PLC | 823,470 | 35,833,178 | ||||||
Grainger PLC | 3,143,780 | 12,745,173 | ||||||
Great Portland Estates PLC REIT | 2,091,839 | 19,540,383 | ||||||
Hammerson PLC REIT | 5,894,549 | 44,370,774 | ||||||
Intu Properties PLC REIT (c) | 6,489,755 | 18,908,651 | ||||||
Land Securities Group PLC REIT | 5,585,587 | 73,426,109 | ||||||
Segro PLC REIT | 7,391,359 | 62,336,013 | ||||||
Shaftesbury PLC | 1,825,998 | 25,154,028 | ||||||
UNITE Group PLC REIT | 1,955,757 | 21,715,087 | ||||||
|
| |||||||
401,892,178 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 3,440,526,981 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 4.9% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (d) (e) | 2,870,583 | 2,870,583 |
See accompanying notes to financial statements.
19
Table of Contents
SPDR DOW JONES INTERNATIONAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (d) (f) | 166,351,563 | $ | 166,351,563 | |||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 169,222,146 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 104.3% | 3,609,749,127 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (4.3)% | (149,601,492 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 3,460,147,635 | ||||||
|
|
(a) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $0, representing 0.0% of the Fund’s net assets. |
(b) | Non-income producing security. |
(c) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(d) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(e) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(f) | Investment of cash collateral for securities loaned. |
NVDR =Non Voting Depositary Receipt
REIT =Real Estate Investment Trust
See accompanying notes to financial statements.
20
Table of Contents
SPDR DOW JONES INTERNATIONAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | $ | 460,748,350 | $ | — | $ | 0 | (a) | $ | 460,748,350 | |||||||||||
Austria | 36,857,558 | — | — | 36,857,558 | ||||||||||||||||
Belgium | 18,894,579 | — | — | 18,894,579 | ||||||||||||||||
Brazil | 23,188,590 | — | — | 23,188,590 | ||||||||||||||||
Canada | 110,061,585 | — | — | 110,061,585 | ||||||||||||||||
France | 344,852,938 | — | — | 344,852,938 | ||||||||||||||||
Germany | 85,077,655 | — | — | 85,077,655 | ||||||||||||||||
Hong Kong | 264,153,871 | — | — | 264,153,871 | ||||||||||||||||
Italy | 6,386,146 | — | — | 6,386,146 | ||||||||||||||||
Japan | 959,496,278 | — | — | 959,496,278 | ||||||||||||||||
Mexico | 36,580,838 | — | — | 36,580,838 | ||||||||||||||||
Netherlands | 26,575,799 | — | — | 26,575,799 | ||||||||||||||||
Philippines | 55,464,539 | — | — | 55,464,539 | ||||||||||||||||
Romania | 41,684,473 | — | — | 41,684,473 | ||||||||||||||||
Singapore | 227,616,010 | — | — | 227,616,010 | ||||||||||||||||
South Africa | 104,761,007 | — | — | 104,761,007 | ||||||||||||||||
Spain | 65,586,506 | — | 0 | (a) | 65,586,506 | |||||||||||||||
Sweden | 65,059,250 | — | — | 65,059,250 | ||||||||||||||||
Switzerland | 80,482,741 | — | — | 80,482,741 | ||||||||||||||||
Thailand | 25,106,090 | — | — | 25,106,090 | ||||||||||||||||
United Kingdom | 401,892,178 | — | — | 401,892,178 | ||||||||||||||||
Short-Term Investments | 169,222,146 | — | — | 169,222,146 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 3,609,749,127 | $ | — | $ | 0 | $ | 3,609,749,127 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
See accompanying notes to financial statements.
21
Table of Contents
SPDR DOW JONES INTERNATIONAL REAL ESTATE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 3,755,745 | $ | 3,755,745 | $ | 108,670,837 | $ | 109,555,999 | $ | — | $ | — | 2,870,583 | $ | 2,870,583 | $ | 23,099 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 60,686,836 | 60,686,836 | 515,632,774 | 409,968,047 | — | — | 166,351,563 | 166,351,563 | 253,058 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 64,442,581 | $ | 624,303,611 | $ | 519,524,046 | $ | — | $ | — | $ | 169,222,146 | $ | 276,157 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
22
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.9% | ||||||||
AEROSPACE & DEFENSE — 0.1% | ||||||||
Other Security | 1,728,000 | $ | 1,217,568 | |||||
|
| |||||||
AIR FREIGHT & LOGISTICS — 0.2% |
| |||||||
Other Securities | 947,794 | 2,308,183 | ||||||
|
| |||||||
AIRLINES — 0.4% | ||||||||
Other Securities | 4,414,000 | 4,565,042 | ||||||
|
| |||||||
AUTO COMPONENTS — 0.5% | ||||||||
Other Securities | 2,384,000 | 5,429,838 | ||||||
|
| |||||||
AUTOMOBILES — 2.3% | ||||||||
Geely Automobile Holdings, Ltd. | 3,254,000 | 9,370,233 | ||||||
Other Securities | 12,402,637 | 17,386,838 | ||||||
|
| |||||||
26,757,071 | ||||||||
|
| |||||||
BANKS — 15.4% | ||||||||
Agricultural Bank of China, Ltd. Class H | 17,007,000 | 9,664,669 | ||||||
Bank of China, Ltd. Class H | 47,648,700 | 25,620,518 | ||||||
Bank of Communications Co., Ltd. Class H | 14,645,824 | 11,476,602 | ||||||
China CITIC Bank Corp., Ltd. Class H | 7,176,471 | 4,901,174 | ||||||
China Construction Bank Corp. Class H | 66,318,623 | 68,107,501 | ||||||
China Merchants Bank Co., Ltd. Class H | 2,452,235 | 10,045,406 | ||||||
China Minsheng Banking Corp., Ltd. Class H | 4,654,800 | 4,525,327 | ||||||
Industrial & Commercial Bank of China, Ltd. Class H | 48,386,789 | 41,492,182 | ||||||
Other Securities | 7,535,000 | 5,004,352 | ||||||
|
| |||||||
180,837,731 | ||||||||
|
| |||||||
BEVERAGES — 0.5% | ||||||||
China Resources Beer Holdings Co., Ltd. | 1,053,667 | 4,564,642 | ||||||
Other Securities | 1,674,000 | 1,691,667 | ||||||
|
| |||||||
6,256,309 | ||||||||
|
| |||||||
BIOTECHNOLOGY — 0.6% | ||||||||
BeiGene, Ltd. ADR (a) | 26,792 | 4,501,056 | ||||||
Other Securities | 571,698 | 2,216,790 | ||||||
|
| |||||||
6,717,846 | ||||||||
|
| |||||||
BUILDING PRODUCTS — 0.0% (b) |
| |||||||
Other Security | 356,000 | 270,800 | ||||||
|
| |||||||
CAPITAL MARKETS — 1.6% | ||||||||
Other Securities | 27,157,994 | 18,482,010 | ||||||
|
| |||||||
CHEMICALS — 0.2% | ||||||||
China Lumena New Materials Corp. (a) (c) (d) | 3,564,548 | — |
See accompanying notes to financial statements.
23
Table of Contents
SPDR S&P CHINA ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Other Securities | 5,387,999 | $ | 2,603,944 | |||||
|
| |||||||
2,603,944 | ||||||||
|
| |||||||
COMMERCIAL SERVICES & SUPPLIES — 0.8% |
| |||||||
China Evergrande Group (a) (c) | 2,151,600 | 6,771,469 | ||||||
Other Securities | 2,084,600 | 2,912,843 | ||||||
|
| |||||||
9,684,312 | ||||||||
|
| |||||||
COMMUNICATIONS EQUIPMENT — 0.4% |
| |||||||
China Fiber Optic Network System Group, Ltd. (a) (d) | 1,131,600 | — | ||||||
Other Securities | 4,208,607 | 4,386,096 | ||||||
|
| |||||||
4,386,096 | ||||||||
|
| |||||||
CONSTRUCTION & ENGINEERING — 0.8% |
| |||||||
Other Securities | 15,180,269 | 9,676,374 | ||||||
|
| |||||||
CONSTRUCTION MATERIALS — 0.8% |
| |||||||
Anhui Conch Cement Co., Ltd. Class H | 851,500 | 4,638,154 | ||||||
China Shanshui Cement Group, Ltd. (a) (c) (d) | 1,896,000 | 90,593 | ||||||
Other Securities | 4,874,363 | 4,059,840 | ||||||
|
| |||||||
8,788,587 | ||||||||
|
| |||||||
CONSUMER FINANCE — 0.2% | ||||||||
Other Securities | 18,832,900 | 2,330,643 | ||||||
|
| |||||||
CONTAINERS & PACKAGING — 0.1% |
| |||||||
Other Securities | 9,961,714 | 615,628 | ||||||
|
| |||||||
DISTRIBUTORS — 0.0% (b) | ||||||||
Other Securities | 11,593,000 | 584,472 | ||||||
|
| |||||||
DIVERSIFIED CONSUMER SERVICES — 1.4% |
| |||||||
New Oriental Education & Technology Group, Inc. ADR | 86,975 | 7,623,359 | ||||||
TAL Education Group ADR | 189,262 | 7,019,728 | ||||||
Other Securities | 1,179,000 | 1,327,938 | ||||||
|
| |||||||
15,971,025 | ||||||||
|
| |||||||
DIVERSIFIED FINANCIAL SERVICES — 0.1% |
| |||||||
Other Security | 1,161,000 | 1,227,820 | ||||||
|
| |||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.9% |
| |||||||
China Telecom Corp., Ltd. Class H | 9,424,951 | 4,155,082 | ||||||
China Unicom Hong Kong, Ltd. (a) | 3,855,805 | 4,863,788 | ||||||
Other Securities | 3,348,600 | 1,640,604 | ||||||
|
| |||||||
10,659,474 | ||||||||
|
| |||||||
ELECTRICAL EQUIPMENT — 0.3% | ||||||||
Other Securities | 7,640,456 | 3,625,328 | ||||||
|
|
See accompanying notes to financial statements.
24
Table of Contents
SPDR S&P CHINA ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 1.8% |
| |||||||
AAC Technologies Holdings, Inc. | 466,745 | $ | 8,421,071 | |||||
Anxin-China Holdings, Ltd. (a ) (d) | 3,068,000 | — | ||||||
Sunny Optical Technology Group Co., Ltd. | 429,000 | 7,920,454 | ||||||
Other Securities | 7,003,681 | 4,875,216 | ||||||
|
| |||||||
21,216,741 | ||||||||
|
| |||||||
ENERGY EQUIPMENT & SERVICES — 0.1% |
| |||||||
Other Securities | 4,145,900 | 1,706,878 | ||||||
|
| |||||||
FOOD & STAPLES RETAILING — 0.1% |
| |||||||
Other Security | 1,439,000 | 1,674,002 | ||||||
|
| |||||||
FOOD PRODUCTS — 1.9% | ||||||||
China Huishan Dairy Holdings Co., Ltd. (a) (c) (d) | 2,729,000 | — | ||||||
China Mengniu Dairy Co., Ltd. | 1,839,220 | 6,303,915 | ||||||
WH Group, Ltd. (e) | 4,820,106 | 5,134,371 | ||||||
Other Securities | 16,449,277 | 10,254,837 | ||||||
|
| |||||||
21,693,123 | ||||||||
|
| |||||||
GAS UTILITIES — 0.7% | ||||||||
China Gas Holdings, Ltd. | 1,500,000 | 5,456,595 | ||||||
Other Securities | 2,261,000 | 2,369,218 | ||||||
|
| |||||||
7,825,813 | ||||||||
|
| |||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 0.1% |
| |||||||
Other Securities | 2,387,000 | 1,369,279 | ||||||
|
| |||||||
HEALTH CARE PROVIDERS & SERVICES — 0.5% |
| |||||||
Other Securities | 1,902,200 | 6,270,447 | ||||||
|
| |||||||
HOTELS, RESTAURANTS & LEISURE — 1.3% |
| |||||||
Yum China Holdings, Inc. | 243,244 | 10,094,626 | ||||||
Other Securities | 34,057,038 | 4,597,634 | ||||||
|
| |||||||
14,692,260 | ||||||||
|
| |||||||
HOUSEHOLD DURABLES — 0.4% | ||||||||
Other Securities | 2,951,423 | 4,459,137 | ||||||
|
| |||||||
HOUSEHOLD PRODUCTS — 0.1% | ||||||||
Other Security | 434,000 | 764,227 | ||||||
|
| |||||||
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 1.0% |
| |||||||
Other Securities | 28,196,508 | 11,877,650 | ||||||
|
| |||||||
INDUSTRIAL CONGLOMERATES — 0.8% |
| |||||||
CITIC, Ltd. | 4,282,000 | 5,990,643 | ||||||
Other Securities | 749,500 | 3,077,545 | ||||||
|
| |||||||
9,068,188 | ||||||||
|
|
See accompanying notes to financial statements.
25
Table of Contents
SPDR S&P CHINA ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
INSURANCE — 5.6% | ||||||||
China Life Insurance Co., Ltd. Class H | 4,771,040 | $ | 13,130,801 | |||||
China Pacific Insurance Group Co., Ltd. Class H | 1,584,200 | 7,095,120 | ||||||
PICC Property & Casualty Co., Ltd. Class H | 2,998,858 | 5,250,094 | ||||||
Ping An Insurance Group Co. of China, Ltd. Class H (c) | 3,140,100 | 31,927,931 | ||||||
Other Securities | 6,188,665 | 7,637,825 | ||||||
|
| |||||||
65,041,771 | ||||||||
|
| |||||||
INTERNET & CATALOG RETAIL — 3.0% |
| |||||||
Ctrip.com International, Ltd. ADR (a) | 241,421 | 11,255,047 | ||||||
JD.com, Inc. ADR (a) | 496,240 | 20,092,757 | ||||||
Other Security | 227,874 | 3,787,266 | ||||||
|
| |||||||
35,135,070 | ||||||||
|
| |||||||
INTERNET SOFTWARE & SERVICES — 32.4% |
| |||||||
58.com, Inc. ADR (a) | 50,383 | 4,023,586 | ||||||
Alibaba Group Holding, Ltd. ADR (a) | 709,906 | 130,296,147 | ||||||
Baidu, Inc. ADR (a) | 169,905 | 37,921,097 | ||||||
NetEase, Inc. ADR | 46,342 | 12,993,833 | ||||||
SINA Corp. (a) | 43,184 | 4,502,796 | ||||||
Tencent Holdings, Ltd. | 3,383,615 | 176,589,670 | ||||||
Other Securities | 581,340 | 13,484,896 | ||||||
|
| |||||||
379,812,025 | ||||||||
|
| |||||||
IT SERVICES — 0.4% | ||||||||
Other Securities | 6,105,000 | 4,824,863 | ||||||
|
| |||||||
LIFE SCIENCES TOOLS & SERVICES — 0.2% |
| |||||||
Other Securities | 552,500 | 2,475,877 | ||||||
|
| |||||||
MACHINERY — 1.1% | ||||||||
Other Securities | 12,401,230 | 13,254,109 | ||||||
|
| |||||||
MARINE — 0.2% | ||||||||
Other Securities | 5,127,475 | 2,259,293 | ||||||
|
| |||||||
MEDIA — 0.1% | ||||||||
Other Securities | 9,829,700 | 1,292,728 | ||||||
|
| |||||||
METALS & MINING — 1.0% | ||||||||
China Metal Recycling Holdings, Ltd. (a) (c) (d) | 268,085 | — | ||||||
Other Securities | 24,223,667 | 11,752,751 | ||||||
|
| |||||||
11,752,751 | ||||||||
|
| |||||||
MULTILINE RETAIL — 0.1% | ||||||||
Other Securities | 2,145,120 | 797,583 | ||||||
|
| |||||||
OIL, GAS & CONSUMABLE FUELS — 4.2% |
| |||||||
China Petroleum & Chemical Corp. Class H | 16,016,640 | 14,060,962 |
See accompanying notes to financial statements.
26
Table of Contents
SPDR S&P CHINA ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
China Shenhua Energy Co., Ltd. Class H | 2,179,200 | $ | 5,414,472 | |||||
CNOOC, Ltd. | 10,459,174 | 15,405,636 | ||||||
PetroChina Co., Ltd. Class H | 13,430,930 | 9,223,999 | ||||||
Other Securities | 8,481,313 | 5,585,951 | ||||||
|
| |||||||
49,691,020 | ||||||||
|
| |||||||
PAPER & FOREST PRODUCTS — 0.3% |
| |||||||
Other Securities | 2,907,000 | 3,633,714 | ||||||
|
| |||||||
PERSONAL PRODUCTS — 0.4% | ||||||||
Hengan International Group Co., Ltd. | 518,500 | 4,802,945 | ||||||
|
| |||||||
PHARMACEUTICALS — 1.9% | ||||||||
China Animal Healthcare, Ltd. (a)(c)(d) | 763,600 | — | ||||||
CSPC Pharmaceutical Group, Ltd. | 2,280,000 | 6,057,108 | ||||||
Hua Han Health Industry Holdings, Ltd. (a) (c) (d) | 3,728,400 | 188,836 | ||||||
Sino Biopharmaceutical, Ltd. | 3,113,000 | 6,108,355 | ||||||
Other Securities | 8,142,632 | 10,021,669 | ||||||
|
| |||||||
22,375,968 | ||||||||
|
| |||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 5.8% |
| |||||||
China Overseas Land & Investment, Ltd. | 2,703,862 | 9,388,051 | ||||||
China Resources Land, Ltd. | 1,926,555 | 7,008,288 | ||||||
China Vanke Co., Ltd. Class H | 891,664 | 4,067,323 | ||||||
Country Garden Holdings Co., Ltd. | 4,365,500 | 8,988,759 | ||||||
Sunac China Holdings, Ltd. (c) | 1,273,300 | 4,915,840 | ||||||
Other Securities | 56,669,301 | 33,513,037 | ||||||
|
| |||||||
67,881,298 | ||||||||
|
| |||||||
ROAD & RAIL — 0.2% | ||||||||
Other Securities | 2,687,300 | 1,850,484 | ||||||
|
| |||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.4% |
| |||||||
Hanergy Thin Film Power Group, Ltd. (a) (c) (d) | 17,589,376 | — | ||||||
Other Securities | 12,533,112 | 4,766,254 | ||||||
|
| |||||||
4,766,254 | ||||||||
|
| |||||||
SOFTWARE — 0.4% | ||||||||
Other Securities | 4,543,910 | 4,266,305 | ||||||
|
| |||||||
SPECIALTY RETAIL — 0.3% | ||||||||
Other Securities | 12,093,248 | 3,319,621 | ||||||
|
| |||||||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 0.3% |
| |||||||
Coolpad Group, Ltd. (a) (d) | 2,629,400 | 120,610 | ||||||
Other Securities | 5,851,500 | 3,709,000 | ||||||
|
| |||||||
3,829,610 | ||||||||
|
|
See accompanying notes to financial statements.
27
Table of Contents
SPDR S&P CHINA ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
TEXTILES,APPAREL & LUXURY GOODS — 0.9% |
| |||||||
Shenzhou International Group Holdings, Ltd. | 429,000 | $ | 4,517,774 | |||||
Other Securities | 9,386,868 | 6,306,797 | ||||||
|
| |||||||
10,824,571 | ||||||||
|
| |||||||
TRADING COMPANIES & DISTRIBUTORS — 0.0% (b) |
| |||||||
Other Securities | 7,424,000 | 319,397 | ||||||
|
| |||||||
TRANSPORTATION INFRASTRUCTURE — 1.0% |
| |||||||
Other Securities | 12,200,698 | 11,698,270 | ||||||
|
| |||||||
WATER UTILITIES — 0.5% | ||||||||
Other Securities | 8,066,400 | 5,741,048 | ||||||
|
| |||||||
WIRELESS TELECOMMUNICATION SERVICES — 2.8% |
| |||||||
China Mobile, Ltd. | 3,520,504 | 32,274,539 | ||||||
|
| |||||||
TOTAL COMMON STOCKS (Cost $902,099,523) | 1,169,534,960 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 1.8% |
| |||||||
State Street Navigator Securities Lending Government Money Market Portfolio (f) (g) | 18,667,846 | 18,667,846 | ||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 2,369,667 | 2,369,667 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $21,037,513) | 21,037,513 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 101.7% | 1,190,572,473 | |||||||
|
| |||||||
OTHER ASSETS — (1.7)% | (19,767,962 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 1,170,804,511 | ||||||
|
|
See accompanying notes to financial statements.
28
Table of Contents
SPDR S&P CHINA ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available on the Fund’s website at www.spdrs.com, without charge, upon request by calling 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
(a) | Non-income producing security. |
(b) | Amount is less than 0.05% of net assets. |
(c) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(d) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $400,039, representing less than 0.05% of the Fund’s net assets. |
(e) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.0% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(f) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(g) | Investment of cash collateral for securities loaned. |
(h) | The rate shown is the annualized seven-day yield at March 31, 2018. |
ADR= American Depositary Receipt
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
ASSETS: | ||||||||||||||||
INVESTMENTS: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Aerospace & Defense | $ | 1,217,568 | $ | — | $ | — | $ | 1,217,568 | ||||||||
Air Freight & Logistics | 2,308,183 | — | — | 2,308,183 | ||||||||||||
Airlines | 4,565,042 | — | — | 4,565,042 | ||||||||||||
Auto Components | 5,429,838 | — | — | 5,429,838 | ||||||||||||
Automobiles | 26,757,071 | — | — | 26,757,071 | ||||||||||||
Banks | 180,837,731 | — | — | 180,837,731 | ||||||||||||
Beverages | 6,256,309 | — | — | 6,256,309 | ||||||||||||
Biotechnology | 6,717,846 | — | — | 6,717,846 | ||||||||||||
Building Products | 270,800 | — | — | 270,800 | ||||||||||||
Capital Markets | 18,482,010 | — | — | 18,482,010 | ||||||||||||
Chemicals | 2,603,944 | — | 0 | (a) | 2,603,944 | |||||||||||
Commercial Services & Supplies | 9,684,312 | — | — | 9,684,312 |
See accompanying notes to financial statements.
29
Table of Contents
SPDR S&P CHINA ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Communications Equipment | $ | 4,386,096 | $ | — | $ | 0 | (a) | $ | 4,386,096 | |||||||||||
Construction & Engineering | 9,676,374 | — | — | 9,676,374 | ||||||||||||||||
Construction Materials | 8,697,994 | — | 90,593 | 8,788,587 | ||||||||||||||||
Consumer Finance | 2,330,643 | — | — | 2,330,643 | ||||||||||||||||
Containers & Packaging | 615,628 | — | — | 615,628 | ||||||||||||||||
Distributors | 584,472 | — | — | 584,472 | ||||||||||||||||
Diversified Consumer Services | 15,971,025 | — | — | 15,971,025 | ||||||||||||||||
Diversified Financial Services | 1,227,820 | — | — | 1,227,820 | ||||||||||||||||
Diversified Telecommunication Services | 10,659,474 | — | — | 10,659,474 | ||||||||||||||||
Electrical Equipment | 3,586,500 | 38,828 | — | 3,625,328 | ||||||||||||||||
Electronic Equipment, Instruments & Components | 21,216,741 | — | 0 | (a) | 21,216,741 | |||||||||||||||
Energy Equipment & Services | 1,706,878 | — | — | 1,706,878 | ||||||||||||||||
Food & Staples Retailing | 1,674,002 | — | — | 1,674,002 | ||||||||||||||||
Food Products | 21,693,123 | — | 0 | (a) | 21,693,123 | |||||||||||||||
Gas Utilities | 7,825,813 | — | — | 7,825,813 | ||||||||||||||||
Health Care Equipment & Supplies | 1,369,279 | — | — | 1,369,279 | ||||||||||||||||
Health Care Providers & Services | 6,270,447 | — | — | 6,270,447 | ||||||||||||||||
Hotels, Restaurants & Leisure | 14,692,260 | — | — | 14,692,260 | ||||||||||||||||
Household Durables | 4,459,137 | — | — | 4,459,137 | ||||||||||||||||
Household Products | 764,227 | — | — | 764,227 | ||||||||||||||||
Independent Power Producers & Energy Traders | 11,877,650 | — | — | 11,877,650 | ||||||||||||||||
Industrial Conglomerates | 9,068,188 | — | — | 9,068,188 | ||||||||||||||||
Insurance | 65,041,771 | — | — | 65,041,771 | ||||||||||||||||
Internet & Catalog Retail | 35,135,070 | — | — | 35,135,070 | ||||||||||||||||
Internet Software & Services | 379,812,025 | — | — | 379,812,025 | ||||||||||||||||
IT Services | 4,824,863 | — | — | 4,824,863 | ||||||||||||||||
Life Sciences Tools & Services | 2,475,877 | — | — | 2,475,877 | ||||||||||||||||
Machinery | 13,254,109 | — | — | 13,254,109 | ||||||||||||||||
Marine | 2,259,293 | — | — | 2,259,293 | ||||||||||||||||
Media | 1,292,728 | — | — | 1,292,728 | ||||||||||||||||
Metals & Mining | 11,752,751 | — | 0 | (a) | 11,752,751 | |||||||||||||||
Multiline Retail | 797,583 | — | — | 797,583 | ||||||||||||||||
Oil, Gas & Consumable Fuels | 49,691,020 | — | — | 49,691,020 | ||||||||||||||||
Paper & Forest Products | 3,633,714 | — | — | 3,633,714 | ||||||||||||||||
Personal Products | 4,802,945 | — | — | 4,802,945 | ||||||||||||||||
Pharmaceuticals | 22,187,132 | — | 188,836 | 22,375,968 | ||||||||||||||||
Real Estate Management & Development | 67,881,298 | — | — | 67,881,298 | ||||||||||||||||
Road & Rail | 1,850,484 | — | — | 1,850,484 | ||||||||||||||||
Semiconductors & Semiconductor Equipment | 4,766,254 | — | 0 | (a) | 4,766,254 |
See accompanying notes to financial statements.
30
Table of Contents
SPDR S&P CHINA ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Software | $ | 4,266,305 | $ | — | $ | — | $ | 4,266,305 | ||||||||||||
Specialty Retail | 3,319,621 | — | — | 3,319,621 | ||||||||||||||||
Technology Hardware, Storage & Peripherals | 3,709,000 | — | 120,610 | 3,829,610 | ||||||||||||||||
Textiles, Apparel & Luxury Goods | 10,824,571 | — | — | 10,824,571 | ||||||||||||||||
Trading Companies & Distributors | 319,397 | — | — | 319,397 | ||||||||||||||||
Transportation Infrastructure | 11,698,270 | — | — | 11,698,270 | ||||||||||||||||
Water Utilities | 5,741,048 | — | — | 5,741,048 | ||||||||||||||||
Wireless Telecommunication Services | 32,274,539 | — | — | 32,274,539 | ||||||||||||||||
Short-Term Investments | 21,037,513 | — | — | 21,037,513 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 1,190,133,606 | $ | 38,828 | $ | 400,039 | $ | 1,190,572,473 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 2,785,729 | $ | 2,785,729 | $ | 54,675,652 | $ | 55,091,714 | $ | — | $ | — | 2,369,667 | $ | 2,369,667 | $ | 17,272 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 22,187,451 | 22,187,451 | 62,355,765 | 65,875,370 | — | — | 18,667,846 | 18,667,846 | 416,932 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 24,973,180 | $ | 117,031,417 | $ | 120,967,084 | $ | — | $ | — | $ | 21,037,513 | $ | 434,204 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
31
Table of Contents
SPDR S&P GLOBAL NATURAL RESOURCES ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.4% | ||||||||
AUSTRALIA — 8.4% | ||||||||
Amcor, Ltd. | 2,591,769 | $ | 28,170,192 | |||||
BHP Billiton, Ltd. | 2,796,699 | 60,516,316 | ||||||
Fortescue Metals Group, Ltd. | 1,480,928 | 4,918,645 | ||||||
Newcrest Mining, Ltd. | 664,444 | 9,968,984 | ||||||
South32, Ltd. | 4,541,902 | 11,218,048 | ||||||
Woodside Petroleum, Ltd. | 367,501 | 8,242,512 | ||||||
|
| |||||||
123,034,697 | ||||||||
|
| |||||||
AUSTRIA — 0.4% | ||||||||
Voestalpine AG | 95,939 | 5,022,861 | ||||||
|
| |||||||
BRAZIL — 3.9% | ||||||||
Fibria Celulose SA ADR | 506,903 | 9,884,608 | ||||||
Petroleo Brasileiro SA ADR (a) | 584,712 | 8,267,828 | ||||||
Vale SA ADR (b) | 3,040,331 | 38,673,010 | ||||||
|
| |||||||
56,825,446 | ||||||||
|
| |||||||
CANADA — 10.2% | ||||||||
Barrick Gold Corp. | 1,015,117 | 12,638,206 | ||||||
Canadian Natural Resources, Ltd. | 425,892 | 13,378,806 | ||||||
Franco-Nevada Corp. (b) | 161,657 | 11,021,641 | ||||||
Goldcorp, Inc. | 754,790 | 10,415,136 | ||||||
Imperial Oil, Ltd. (b) | 98,705 | 2,612,228 | ||||||
Nutrien, Ltd. (b) | 1,443,811 | 68,234,501 | ||||||
Suncor Energy, Inc. | 652,907 | 22,530,799 | ||||||
Wheaton Precious Metals Corp. | 385,065 | 7,840,183 | ||||||
|
| |||||||
148,671,500 | ||||||||
|
| |||||||
CHILE — 0.3% | ||||||||
Antofagasta PLC | 300,346 | 3,880,407 | ||||||
|
| |||||||
CHINA — 0.6% | ||||||||
CNOOC, Ltd. | 6,314,000 | 9,300,083 | ||||||
|
| |||||||
COLOMBIA — 0.1% | ||||||||
Ecopetrol SA ADR (b) | 90,476 | 1,748,901 | ||||||
|
| |||||||
FINLAND — 4.6% | ||||||||
Stora Enso Oyj Class R (b) | 1,277,461 | 23,448,458 | ||||||
UPM-Kymmene Oyj (b) | 1,192,983 | 44,162,439 | ||||||
|
| |||||||
67,610,897 | ||||||||
|
| |||||||
FRANCE — 3.9% | ||||||||
TOTAL SA | 994,378 | 56,414,048 | ||||||
|
|
See accompanying notes to financial statements.
32
Table of Contents
SPDR S&P GLOBAL NATURAL RESOURCES ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
GERMANY — 1.4% | ||||||||
KS AG (b) | 427,231 | $ | 12,316,085 | |||||
ThyssenKrupp AG | 335,963 | 8,755,374 | ||||||
|
| |||||||
21,071,459 | ||||||||
|
| |||||||
HONG KONG — 0.4% | ||||||||
Nine Dragons Paper Holdings, Ltd. | 3,797,000 | 5,679,801 | ||||||
|
| |||||||
IRELAND — 1.5% | ||||||||
Smurfit Kappa Group PLC | 530,142 | 21,463,688 | ||||||
|
| |||||||
ITALY — 1.2% | ||||||||
Eni SpA | 1,004,564 | 17,652,302 | ||||||
|
| |||||||
JAPAN — 3.5% | ||||||||
JFE Holdings, Inc. | 502,800 | 10,011,086 | ||||||
Nippon Steel & Sumitomo Metal Corp. | 769,100 | 16,690,953 | ||||||
Oji Holdings Corp. | 2,264,000 | 14,433,399 | ||||||
Sumitomo Metal Mining Co., Ltd. (b) | 242,200 | 9,849,694 | ||||||
|
| |||||||
50,985,132 | ||||||||
|
| |||||||
LUXEMBOURG — 1.2% | ||||||||
ArcelorMittal (a) | 548,174 | 17,326,221 | ||||||
|
| |||||||
MEXICO — 0.2% | ||||||||
Fresnillo PLC | 165,998 | 2,953,854 | ||||||
|
| |||||||
NETHERLANDS — 4.1% | ||||||||
OCI NV (a)(b) | 143,177 | 3,302,498 | ||||||
Royal Dutch Shell PLC Class A | 1,792,507 | 56,162,001 | ||||||
|
| |||||||
59,464,499 | ||||||||
|
| |||||||
NORWAY — 2.3% | ||||||||
Norsk Hydro ASA | 1,188,625 | 6,956,778 | ||||||
Statoil ASA | 431,712 | 10,153,627 | ||||||
Yara International ASA | 392,977 | 16,573,114 | ||||||
|
| |||||||
33,683,519 | ||||||||
|
| |||||||
PERU — 0.3% | ||||||||
Southern Copper Corp. (b) | 74,032 | 4,011,054 | ||||||
|
| |||||||
RUSSIA — 3.3% | ||||||||
Gazprom PJSC ADR | 2,604,020 | 12,671,161 | ||||||
LUKOIL PJSC ADR | 187,118 | 12,892,430 | ||||||
MMC Norilsk Nickel PJSC ADR | 592,298 | 10,978,244 | ||||||
Novatek PJSC GDR | 35,784 | 4,902,408 | ||||||
Novolipetsk Steel PJSC GDR | 86,393 | 2,151,186 | ||||||
Rosneft Oil Co. PJSC GDR | 466,844 | 2,559,238 |
See accompanying notes to financial statements.
33
Table of Contents
SPDR S&P GLOBAL NATURAL RESOURCES ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Severstal PJSC GDR | 158,507 | $ | 2,391,871 | |||||
|
| |||||||
48,546,538 | ||||||||
|
| |||||||
SINGAPORE — 1.6% | ||||||||
Golden Agri-Resources, Ltd. | 14,997,768 | 4,003,065 | ||||||
Wilmar International, Ltd. | 8,048,019 | 19,517,044 | ||||||
|
| |||||||
23,520,109 | ||||||||
|
| |||||||
SOUTH AFRICA — 1.5% | ||||||||
Mondi PLC | 823,799 | 22,130,223 | ||||||
|
| |||||||
SOUTH KOREA — 1.9% | ||||||||
Korea Zinc Co., Ltd. | 10,997 | 4,972,844 | ||||||
POSCO ADR (a) | 263,948 | 20,812,300 | ||||||
POSCO | 4,195 | 1,326,311 | ||||||
|
| |||||||
27,111,455 | ||||||||
|
| |||||||
SPAIN — 0.6% | ||||||||
Repsol SA | 492,023 | 8,722,728 | ||||||
|
| |||||||
SWITZERLAND — 3.6% | ||||||||
Glencore PLC (a) | 10,573,706 | 52,478,428 | ||||||
|
| |||||||
UNITED KINGDOM — 8.0% | ||||||||
Anglo American PLC (b) | 1,228,106 | 28,615,493 | ||||||
BP PLC | 7,789,979 | 52,371,397 | ||||||
DS Smith PLC | 2,395,361 | 15,813,160 | ||||||
Rio Tinto, Ltd. | 359,060 | 20,022,814 | ||||||
|
| |||||||
116,822,864 | ||||||||
|
| |||||||
UNITED STATES — 30.4% | ||||||||
Anadarko Petroleum Corp. | 106,045 | 6,406,178 | ||||||
Archer-Daniels-Midland Co. | 486,325 | 21,091,915 | ||||||
Avery Dennison Corp. | 76,491 | 8,127,169 | ||||||
Baker Hughes a GE Co. | 82,284 | 2,285,027 | ||||||
Bunge, Ltd. | 121,670 | 8,996,280 | ||||||
CF Industries Holdings, Inc. | 201,814 | 7,614,442 | ||||||
Chevron Corp. | 368,992 | 42,079,848 | ||||||
ConocoPhillips | 231,720 | 13,738,679 | ||||||
Devon Energy Corp. | 101,154 | 3,215,686 | ||||||
EOG Resources, Inc. | 112,504 | 11,843,296 | ||||||
Exxon Mobil Corp. | 824,649 | 61,527,062 | ||||||
FMC Corp. | 116,194 | 8,896,975 | ||||||
Freeport-McMoRan, Inc. (a) | 1,176,922 | 20,678,519 | ||||||
Halliburton Co. | 170,000 | 7,979,800 | ||||||
Ingredion, Inc. | 62,154 | 8,012,894 | ||||||
International Paper Co. | 359,140 | 19,188,850 |
See accompanying notes to financial statements.
34
Table of Contents
SPDR S&P GLOBAL NATURAL RESOURCES ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Monsanto Co. | 381,722 | $ | 44,543,140 | |||||
Mosaic Co. | 302,505 | 7,344,821 | ||||||
Newmont Mining Corp. | 464,245 | 18,138,052 | ||||||
Nucor Corp. | 276,767 | 16,907,696 | ||||||
Occidental Petroleum Corp. | 149,052 | 9,682,418 | ||||||
Packaging Corp. of America | 81,648 | 9,201,730 | ||||||
Phillips 66 | 81,374 | 7,805,394 | ||||||
Pioneer Natural Resources Co. | 33,200 | 5,703,096 | ||||||
Rayonier, Inc. REIT | 111,608 | 3,926,369 | ||||||
Schlumberger, Ltd. | 269,363 | 17,449,335 | ||||||
Sealed Air Corp. | 156,100 | 6,679,519 | ||||||
Valero Energy Corp. | 85,006 | 7,886,007 | ||||||
WestRock Co. | 220,316 | 14,137,678 | ||||||
Weyerhaeuser Co. REIT | 656,298 | 22,970,430 | ||||||
|
| |||||||
444,058,305 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 1,450,191,019 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 3.5% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (c) (d) | 2,904,677 | 2,904,677 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (c) (e) | 48,214,731 | 48,214,731 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 51,119,408 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 102.9% | 1,501,310,427 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.9)% | (42,087,057 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 1,459,223,370 | ||||||
|
|
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(d) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(e) | Investment of cash collateral for securities loaned. |
ADR =American Depositary Receipt
GDR =Global Depositary Receipt
REIT =Real Estate Investment Trust
See accompanying notes to financial statements.
35
Table of Contents
SPDR S&P GLOBAL NATURAL RESOURCES ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
ASSETS: | ||||||||||||||||
INVESTMENTS: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Australia | $ | 123,034,697 | $ | — | $ | — | $ | 123,034,697 | ||||||||
Austria | 5,022,861 | — | — | 5,022,861 | ||||||||||||
Brazil | 56,825,446 | — | — | 56,825,446 | ||||||||||||
Canada | 148,671,500 | — | — | 148,671,500 | ||||||||||||
Chile | 3,880,407 | — | — | 3,880,407 | ||||||||||||
China | 9,300,083 | — | — | 9,300,083 | ||||||||||||
Colombia | 1,748,901 | — | — | 1,748,901 | ||||||||||||
Finland | 67,610,897 | — | — | 67,610,897 | ||||||||||||
France | 56,414,048 | — | — | 56,414,048 | ||||||||||||
Germany | 21,071,459 | — | — | 21,071,459 | ||||||||||||
Hong Kong | 5,679,801 | — | — | 5,679,801 | ||||||||||||
Ireland | 21,463,688 | — | — | 21,463,688 | ||||||||||||
Italy | 17,652,302 | — | — | 17,652,302 | ||||||||||||
Japan | 50,985,132 | — | — | 50,985,132 | ||||||||||||
Luxembourg | 17,326,221 | — | — | 17,326,221 | ||||||||||||
Mexico | 2,953,854 | — | — | 2,953,854 | ||||||||||||
Netherlands | 59,464,499 | — | — | 59,464,499 | ||||||||||||
Norway | 33,683,519 | — | — | 33,683,519 | ||||||||||||
Peru | 4,011,054 | — | — | 4,011,054 | ||||||||||||
Russia | 48,546,538 | — | — | 48,546,538 | ||||||||||||
Singapore | 23,520,109 | — | — | 23,520,109 | ||||||||||||
South Africa | 22,130,223 | — | — | 22,130,223 | ||||||||||||
South Korea | 27,111,455 | — | — | 27,111,455 | ||||||||||||
Spain | 8,722,728 | — | — | 8,722,728 | ||||||||||||
Switzerland | 52,478,428 | — | — | 52,478,428 | ||||||||||||
United Kingdom | 116,822,864 | — | — | 116,822,864 | ||||||||||||
United States | 444,058,305 | — | — | 444,058,305 | ||||||||||||
Short-Term Investments | 51,119,408 | — | — | 51,119,408 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL INVESTMENTS | $ | 1,501,310,427 | $ | — | $ | — | $ | 1,501,310,427 | ||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
36
Table of Contents
SPDR S&P GLOBAL NATURAL RESOURCES ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | ||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 799,218 | $ | 799,218 | $ | 81,266,301 | $ | 79,160,842 | $ | — | $ | — | 2,904,677 | $ | 2,904,677 | $ | 24,103 | ||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 27,454,617 | 27,454,617 | 294,870,997 | 274,110,883 | — | — | 48,214,731 | 48,214,731 | 183,019 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||
Total | $ | 28,253,835 | $ | 376,137,298 | $ | 353,271,725 | $ | — | $ | — | $ | 51,119,408 | $ | 207,122 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
37
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS - 99.0% | ||||||||
AUSTRALIA – 6.3% | ||||||||
AET&D Holdings No. 1 Pty, Ltd. (a)(b) | 110,316 | $ | — | |||||
Arrium, Ltd. (a)(b)(c) | 1,727,582 | — | ||||||
Beach Energy, Ltd. | 1,532,360 | 1,428,107 | ||||||
CSR, Ltd. | 347,380 | 1,380,252 | ||||||
InvoCare, Ltd. | 201,637 | 2,009,107 | ||||||
Jacana Minerals, Ltd. (a)(b)(c) | 12,051 | — | ||||||
Quintis, Ltd. (a)(b)(c) | 148,677 | — | ||||||
Tiger Resources, Ltd. (a)(c) | 2,464 | — | ||||||
Other Securities | 36,852,966 | 53,532,436 | ||||||
|
| |||||||
58,349,902 | ||||||||
|
| |||||||
AUSTRIA – 0.3% | ||||||||
Other Securities | 112,651 | 2,903,419 | ||||||
|
| |||||||
BELGIUM – 1.4% | ||||||||
Ablynx NV (c) | 37,391 | 2,050,026 | ||||||
Barco NV | 18,725 | 2,302,895 | ||||||
Tessenderlo Group SA (c) | 40,793 | 1,708,264 | ||||||
Other Securities | 639,382 | 6,628,421 | ||||||
|
| |||||||
12,689,606 | ||||||||
|
| |||||||
CANADA – 7.9% | ||||||||
Aurora Cannabis, Inc. (b)(c) | 213,479 | 1,539,930 | ||||||
Canopy Growth Corp. (b)(c) | 97,308 | 2,540,537 | ||||||
Colliers International Group, Inc. | 30,939 | 2,146,352 | ||||||
Colossus Minerals, Inc. (a)(c) | 390 | — | ||||||
GASFRAC Energy Services, Inc. (a)(c) | 21,904 | — | ||||||
Great Basin Gold, Ltd. (a)(c) | 266,255 | — | ||||||
Lightstream Resources, Ltd. (a)(c) | 64,736 | — | ||||||
Parex Resources, Inc. (c) | 97,136 | 1,365,216 | ||||||
Poseidon Concepts Corp. (a)(c) | 43,064 | — | ||||||
Southern Pacific Resource Corp. (a)(c) | 281,142 | — | ||||||
Twin Butte Energy, Ltd. (a)(c) | 83,708 | — | ||||||
Other Securities | 12,914,924 | 64,963,126 | ||||||
|
| |||||||
72,555,161 | ||||||||
|
| |||||||
CHINA – 0.3% | ||||||||
Other Securities | 15,804,505 | 2,677,820 | ||||||
|
| |||||||
DENMARK – 0.7% | ||||||||
Amagerbanken A/S (a)(c) | 308,573 | — | ||||||
OW Bunker A/S (a)(c) | 9,828 | — | ||||||
Other Securities | 285,124 | 6,131,667 | ||||||
|
| |||||||
6,131,667 | ||||||||
|
|
See accompanying notes to financial statements.
38
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
FINLAND – 0.7% | ||||||||
Ahtium PLC (a) | 572,382 | $ | — | |||||
Other Securities | 693,066 | 6,544,251 | ||||||
|
| |||||||
6,544,251 | ||||||||
|
| |||||||
FRANCE – 2.1% | ||||||||
Other Securities | 1,124,517 | 19,284,098 | ||||||
|
| |||||||
GERMANY – 3.2% | ||||||||
Indus Holding AG | 29,915 | 2,093,407 | ||||||
Jenoptik AG | 80,061 | 2,827,859 | ||||||
Other Securities | 1,126,954 | 25,008,785 | ||||||
|
| |||||||
29,930,051 | ||||||||
|
| |||||||
GREECE – 0.0% (d) | ||||||||
TT Hellenic Postbank SA (a)(c) | 129,076 | — | ||||||
|
| |||||||
HONG KONG – 2.6% | ||||||||
China Ocean Resources Co., Ltd. (a)(b)(c) | 26,593 | — | ||||||
HKR International, Ltd. (b) | 2,347,259 | 1,405,670 | ||||||
Peace Mark Holdings, Ltd. (a)(c) | 504,228 | — | ||||||
Superb Summit International Group, Ltd. (a)(b)(c) | 1,685,500 | — | ||||||
Other Securities | 157,087,310 | 22,143,140 | ||||||
|
| |||||||
23,548,810 | ||||||||
|
| |||||||
INDIA – 0.0% (d) | ||||||||
Other Security | 17,109 | 186,488 | ||||||
|
| |||||||
IRELAND – 0.8% | ||||||||
Other Securities | 2,579,943 | 7,055,211 | ||||||
|
| |||||||
ISRAEL – 1.8% | ||||||||
Orbotech, Ltd. (c) | 27,030 | 1,680,725 | ||||||
Other Securities | 2,463,129 | 14,972,760 | ||||||
|
| |||||||
16,653,485 | ||||||||
|
| |||||||
ITALY – 1.2% | ||||||||
Other Securities | 27,955,516 | 11,460,844 | ||||||
|
| |||||||
JAPAN – 36.6% | ||||||||
Awa Bank, Ltd. | 254,000 | 1,647,955 | ||||||
Bank of the Ryukyus, Ltd. | 92,020 | 1,407,772 | ||||||
Doutor Nichires Holdings Co., Ltd. | 69,672 | 1,644,351 | ||||||
Fancl Corp. | 40,100 | 1,461,095 | ||||||
FCC Co., Ltd. | 49,128 | 1,368,285 | ||||||
Fukuoka REIT Corp. | 882 | 1,377,529 | ||||||
Iwatani Corp. | 53,000 | 1,941,091 | ||||||
Japan Logistics Fund, Inc. REIT | 661 | 1,335,052 | ||||||
Kanematsu Corp. | 118,299 | 1,576,208 |
See accompanying notes to financial statements.
39
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Kiyo Bank, Ltd. | 94,360 | $ | 1,506,566 | |||||
Makino Milling Machine Co., Ltd. | 158,000 | 1,466,347 | ||||||
Marudai Food Co., Ltd. | 324,656 | 1,544,673 | ||||||
Nakanishi, Inc. | 80,040 | 1,607,573 | ||||||
Nikkon Holdings Co., Ltd. (b) | 138,480 | 3,614,673 | ||||||
Nippon Gas Co., Ltd. | 33,400 | 1,579,709 | ||||||
NIPPON REIT Investment Corp. | 605 | 1,820,404 | ||||||
Premier Investment Corp. | 1,506 | 1,583,176 | ||||||
Rengo Co., Ltd. | 235,600 | 2,022,593 | ||||||
Shima Seiki Manufacturing, Ltd. (b) | 26,545 | 1,837,059 | ||||||
Shimachu Co., Ltd. | 45,960 | 1,456,372 | ||||||
Shochiku Co., Ltd. | 20,160 | 2,832,068 | ||||||
TAKATA Corp. (a)(c) | 300 | — | ||||||
Toagosei Co., Ltd. | 186,200 | 2,183,276 | ||||||
Toei Co., Ltd. | 14,140 | 1,497,098 | ||||||
Toho Holdings Co., Ltd. (b) | 73,819 | 1,740,143 | ||||||
Tokai Carbon Co., Ltd. | 134,000 | 1,951,725 | ||||||
Tokuyama Corp. (b) | 47,200 | 1,473,474 | ||||||
Other Securities | 20,883,549 | 292,998,609 | ||||||
|
| |||||||
338,474,876 | ||||||||
|
| |||||||
LIECHTENSTEIN – 0.0% (d) | ||||||||
Other Security | 1,823 | 282,131 | ||||||
|
| |||||||
LUXEMBOURG – 0.1% | ||||||||
Other Security | 19,911 | 539,588 | ||||||
|
| |||||||
MACAU – 0.1% | ||||||||
Other Security | 3,261,740 | 477,938 | ||||||
|
| |||||||
MALTA – 0.0% (d) | ||||||||
Other Security | 28,235 | 381,645 | ||||||
|
| |||||||
NETHERLANDS – 1.4% | ||||||||
Other Securities | 1,173,676 | 13,185,764 | ||||||
|
| |||||||
NEW ZEALAND – 1.1% | ||||||||
Other Securities | 5,362,090 | 10,130,154 | ||||||
|
| |||||||
NORWAY – 1.3% | ||||||||
Other Securities | 2,974,469 | 12,153,056 | ||||||
|
| |||||||
PERU – 0.0% (d) | ||||||||
Other Security | 91,708 | 256,202 | ||||||
|
| |||||||
PORTUGAL – 0.2% | ||||||||
Altri SGPS SA | 215,886 | 1,439,051 | ||||||
Other Securities | 258,350 | 661,510 | ||||||
|
| |||||||
2,100,561 | ||||||||
|
|
See accompanying notes to financial statements.
40
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SINGAPORE – 1.5% | ||||||||
Ezra Holdings, Ltd. (a)(b)(c) | 1,444,295 | $ | — | |||||
Swiber Holdings, Ltd. (a)(b)(c) | 100,100 | — | ||||||
Technics Oil & Gas, Ltd. (a)(c) | 1,254 | — | ||||||
Other Securities | 20,370,383 | 13,349,673 | ||||||
|
| |||||||
13,349,673 | ||||||||
|
| |||||||
SOUTH AFRICA – 0.0% (d) | ||||||||
Other Security | 212,460 | 195,216 | ||||||
|
| |||||||
SOUTH KOREA – 11.5% | ||||||||
CNK International Co., Ltd. (a)(c) | 16,071 | — | ||||||
Com2uSCorp | 7,716 | 1,350,789 | ||||||
Hanjin Shipping Co., Ltd. (a)(c) | 1,732 | — | ||||||
Samsung Engineering Co., Ltd. (c) | 99,738 | 1,731,075 | ||||||
SillaJen, Inc. (c) | 33,254 | 3,341,311 | ||||||
ViroMed Co., Ltd. (c) | 8,460 | 1,754,067 | ||||||
Woojeon Co., Ltd. (a)(c) | 7,674 | — | ||||||
Other Securities | 6,184,332 | 97,836,728 | ||||||
|
| |||||||
106,013,970 | ||||||||
|
| |||||||
SPAIN – 1.4% | ||||||||
Let’s GOWEX SA (a)(b)(c) | 9,561 | — | ||||||
Other Securities | 15,692,818 | 12,982,699 | ||||||
|
| |||||||
12,982,699 | ||||||||
|
| |||||||
SWEDEN – 2.9% | ||||||||
Wihlborgs Fastigheter AB | 129,933 | 3,000,554 | ||||||
Other Securities | 3,756,320 | 23,363,976 | ||||||
|
| |||||||
26,364,530 | ||||||||
|
| |||||||
SWITZERLAND – 2.2% | ||||||||
Valora Holding AG | 5,283 | 1,804,032 | ||||||
Other Securities | 991,325 | 18,615,364 | ||||||
|
| |||||||
20,419,396 | ||||||||
|
| |||||||
UNITED ARAB EMIRATES – 0.0% (d) |
| |||||||
Other Securities | 125,871 | 129,037 | ||||||
|
| |||||||
UNITED KINGDOM – 8.5% | ||||||||
Carillion PLC (a)(b) | 8,202 | — | ||||||
Fenner PLC | 178,393 | 1,524,021 | ||||||
J D Wetherspoon PLC | 92,793 | 1,482,637 | ||||||
Senior PLC | 451,404 | 1,903,488 | ||||||
Other Securities | 32,750,475 | 73,373,258 | ||||||
|
| |||||||
78,283,404 | ||||||||
|
|
See accompanying notes to financial statements.
41
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
UNITED STATES – 0.9% | ||||||||
Ferroglobe Representation & Warranty Insurance Trust (a)(c) | 19,857 | $ | — | |||||
Other Securities | 2,120,161 | 8,670,451 | ||||||
|
| |||||||
8,670,451 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 914,361,104 | |||||||
|
| |||||||
WARRANTS - 0.0% (d) | ||||||||
AUSTRALIA – 0.0% (d) | ||||||||
Other Securities | 19,387 | 2,893 | ||||||
|
| |||||||
FRANCE – 0.0% (d) | ||||||||
Other Securities | 2,262 | 516 | ||||||
|
| |||||||
SINGAPORE – 0.0% (d) | ||||||||
Other Security | 115,305 | 2,638 | ||||||
|
| |||||||
TOTAL WARRANTS | 6,047 | |||||||
|
| |||||||
RIGHTS - 0.0% (d) | ||||||||
ITALY – 0.0% (d) | ||||||||
Other Security | 16,859 | 17,927 | ||||||
|
| |||||||
SWEDEN – 0.0% (d) | ||||||||
Other Security | 51,093 | 854 | ||||||
|
| |||||||
UNITED KINGDOM – 0.0% (d) | ||||||||
Other Securities | 75,189 | 372,522 | ||||||
|
| |||||||
TOTAL RIGHTS | 391,303 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS - 10.6% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (e)(f) | 1,510,725 | 1,510,725 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (e)(g) | 95,964,387 | 95,964,387 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 97,475,112 | |||||||
|
| |||||||
TOTAL INVESTMENTS - 109.6% | 1,012,233,566 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (9.6)% | (88,411,858 | ) | ||||||
|
| |||||||
NET ASSETS - 100.0% | $ | 923,821,708 | ||||||
|
|
See accompanying notes to financial statements.
42
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available on the Fund’s website at www.spdrs.com, without charge, upon request by calling 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
(a) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $0, representing 0.0% of the Fund’s net assets. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Non-income producing security. |
(d) | Amount is less than 0.05% of net assets. |
(e) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(f) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(g) | Investment of cash collateral for securities loaned. |
REIT | Real Estate Investment Trust |
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | $ | 58,349,902 | $ | 0 | (a) | $ | 0 | (b) | $ | 58,349,902 | ||||||||||
Austria | 2,903,419 | — | — | 2,903,419 | ||||||||||||||||
Belgium | 12,689,606 | — | — | 12,689,606 | ||||||||||||||||
Canada | 72,498,781 | 56,380 | 0 | (b) | 72,555,161 | |||||||||||||||
China | 2,677,820 | — | — | 2,677,820 | ||||||||||||||||
Denmark | 6,131,667 | — | 0 | (b) | 6,131,667 | |||||||||||||||
Finland | 6,544,251 | — | 0 | (b) | 6,544,251 | |||||||||||||||
France | 19,284,098 | — | — | 19,284,098 | ||||||||||||||||
Germany | 29,930,051 | — | — | 29,930,051 | ||||||||||||||||
Greece | — | — | 0 | (b) | 0 | |||||||||||||||
Hong Kong | 23,335,653 | 213,157 | 0 | (b) | 23,548,810 | |||||||||||||||
India. | 186,488 | — | — | 186,488 | ||||||||||||||||
Ireland | 7,055,211 | — | — | 7,055,211 | ||||||||||||||||
Israel | 16,653,485 | — | — | 16,653,485 | ||||||||||||||||
Italy | 11,460,844 | — | — | 11,460,844 |
See accompanying notes to financial statements.
43
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Japan | $ | 338,474,876 | $ | — | $ | 0 | (b) | $ | 338,474,876 | |||||||||||
Liechtenstein | 282,131 | — | — | 282,131 | ||||||||||||||||
Luxembourg | 539,588 | — | — | 539,588 | ||||||||||||||||
Macau | 477,938 | — | — | 477,938 | ||||||||||||||||
Malta | 381,645 | — | — | 381,645 | ||||||||||||||||
Netherlands | 13,185,764 | — | — | 13,185,764 | ||||||||||||||||
New Zealand | 10,130,154 | — | — | 10,130,154 | ||||||||||||||||
Norway | 12,153,056 | — | — | 12,153,056 | ||||||||||||||||
Peru | 256,202 | — | — | 256,202 | ||||||||||||||||
Portugal | 2,100,561 | — | — | 2,100,561 | ||||||||||||||||
Singapore | 13,078,293 | 271,380 | 0 | (b) | 13,349,673 | |||||||||||||||
South Africa | 195,216 | — | — | 195,216 | ||||||||||||||||
South Korea | 105,825,744 | 188,226 | 0 | (b) | 106,013,970 | |||||||||||||||
Spain | 12,982,699 | — | 0 | (b) | 12,982,699 | |||||||||||||||
Sweden | 26,364,530 | — | — | 26,364,530 | ||||||||||||||||
Switzerland | 20,419,396 | — | — | 20,419,396 | ||||||||||||||||
United Arab Emirates | 129,037 | — | — | 129,037 | ||||||||||||||||
United Kingdom | 78,260,663 | 22,741 | 0 | (b) | 78,283,404 | |||||||||||||||
United States | 8,670,451 | — | 0 | (b) | 8,670,451 | |||||||||||||||
Warrants | ||||||||||||||||||||
Australia | 2,893 | — | — | 2,893 | ||||||||||||||||
France | 516 | — | — | 516 | ||||||||||||||||
Singapore | — | 2,638 | — | 2,638 | ||||||||||||||||
Rights | ||||||||||||||||||||
Italy | 17,927 | — | — | 17,927 | ||||||||||||||||
Sweden | 854 | — | — | 854 | ||||||||||||||||
United Kingdom | 372,522 | — | — | 372,522 | ||||||||||||||||
Short-Term Investments | 97,475,112 | — | — | 97,475,112 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 1,011,479,044 | $ | 754,522 | $ | 0 | $ | 1,012,233,566 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held a Level 2 security that was valued at $0 at March 31, 2018. |
(b) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
See accompanying notes to financial statements.
44
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 73,500 | $ | 73,500 | $ | 71,569,182 | $ | 70,131,957 | $ | — | $ | — | 1,510,725 | $ | 1,510,725 | $ | 24,500 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 66,029,680 | 66,029,680 | 101,110,821 | 71,176,114 | — | — | 95,964,387 | 95,964,387 | 1,512,147 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 66,103,180 | $ | 172,680,003 | $ | 141,308,071 | $ | — | $ | — | $ | 97,475,112 | $ | 1,536,647 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
45
Table of Contents
SPDR S&P NORTH AMERICAN NATURAL RESOURCES ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.9% | ||||||||
CANADA — 34.5% | ||||||||
Agnico Eagle Mines, Ltd. | 390,653 | $ | 16,423,031 | |||||
ARC Resources, Ltd. (a) | 116,409 | 1,267,700 | ||||||
Barrick Gold Corp. | 1,961,058 | 24,413,404 | ||||||
Cameco Corp. (a) | 130,273 | 1,183,244 | ||||||
Canadian Natural Resources, Ltd. | 356,835 | 11,209,476 | ||||||
Cenovus Energy, Inc. | 335,743 | 2,856,778 | ||||||
Crescent Point Energy Corp. (a) | 179,642 | 1,220,604 | ||||||
Encana Corp. | 320,321 | 3,520,612 | ||||||
First Quantum Minerals, Ltd. | 1,159,193 | 16,265,116 | ||||||
Franco-Nevada Corp. (a) | 312,314 | 21,293,311 | ||||||
Goldcorp, Inc. | 1,458,078 | 20,119,610 | ||||||
Husky Energy, Inc. | 99,275 | 1,419,919 | ||||||
Imperial Oil, Ltd. | 82,757 | 2,190,164 | ||||||
Kinross Gold Corp. (b) | 2,096,817 | 8,278,300 | ||||||
Lundin Mining Corp. | 1,064,525 | 6,977,108 | ||||||
Nutrien, Ltd. (a) | 558,456 | 26,375,323 | ||||||
Peyto Exploration & Development Corp. (a) | 53,898 | 451,502 | ||||||
PrairieSky Royalty, Ltd. (a) | 69,215 | 1,512,342 | ||||||
Seven Generations Energy, Ltd. Class A (b) | 91,048 | 1,129,934 | ||||||
Suncor Energy, Inc. | 544,398 | 18,786,323 | ||||||
Teck Resources, Ltd. Class B | 853,731 | 21,971,530 | ||||||
Tourmaline Oil Corp. | 82,570 | 1,399,383 | ||||||
Vermilion Energy, Inc. (a) | 40,120 | 1,292,678 | ||||||
West Fraser Timber Co., Ltd. | 51,759 | 3,436,950 | ||||||
Wheaton Precious Metals Corp. | 743,835 | 15,144,983 | ||||||
Yamana Gold, Inc. (a) | 1,594,477 | 4,402,822 | ||||||
|
| |||||||
234,542,147 | ||||||||
|
| |||||||
UNITED STATES — 65.4% | ||||||||
Anadarko Petroleum Corp. | 180,112 | 10,880,566 | ||||||
Antero Resources Corp. (b) | 70,681 | 1,403,018 | ||||||
Apache Corp. (a) | 125,364 | 4,824,007 | ||||||
Archer-Daniels-Midland Co. | 484,786 | 21,025,169 | ||||||
Bunge, Ltd. | 121,835 | 9,008,480 | ||||||
Cabot Oil & Gas Corp. | 152,269 | 3,651,411 | ||||||
CF Industries Holdings, Inc. | 202,235 | 7,630,326 | ||||||
Chevron Corp. | 618,378 | 70,519,827 | ||||||
Cimarex Energy Co. | 31,392 | 2,935,152 | ||||||
Concho Resources, Inc. (a)(b) | 49,000 | 7,366,170 | ||||||
ConocoPhillips | 393,501 | 23,330,674 | ||||||
Continental Resources, Inc. (b) | 28,367 | 1,672,235 | ||||||
Devon Energy Corp. | 172,944 | 5,497,890 |
See accompanying notes to financial statements.
46
Table of Contents
SPDR S&P NORTH AMERICAN NATURAL RESOURCES ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
EOG Resources, Inc. | 190,379 | $ | 20,041,197 | |||||
EQT Corp. | 80,606 | 3,829,591 | ||||||
Exxon Mobil Corp. | 905,973 | 67,594,645 | ||||||
FMC Corp. | 116,347 | 8,908,690 | ||||||
Freeport-McMoRan, Inc. (b) | 2,263,738 | 39,773,877 | ||||||
Hess Corp. | 88,900 | 4,500,118 | ||||||
Ingredion, Inc. | 62,336 | 8,036,357 | ||||||
Marathon Oil Corp. | 279,652 | 4,510,787 | ||||||
Monsanto Co. | 380,799 | 44,435,435 | ||||||
Mosaic Co. | 303,045 | 7,357,933 | ||||||
Newmont Mining Corp. | 896,834 | 35,039,304 | ||||||
Noble Energy, Inc. | 160,204 | 4,854,181 | ||||||
Occidental Petroleum Corp. | 251,917 | 16,364,528 | ||||||
Pioneer Natural Resources Co. | 56,029 | 9,624,662 | ||||||
|
| |||||||
444,616,230 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 679,158,377 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 4.3% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (c) (d) | 337,289 | 337,289 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (c) (e) | 28,720,522 | 28,720,522 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 29,057,811 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 104.2% | 708,216,188 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (4.2)% | (28,491,254 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 679,724,934 | ||||||
|
|
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Non-income producing security. |
(c) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(d) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(e) | Investment of cash collateral for securities loaned. |
See accompanying notes to financial statements.
47
Table of Contents
SPDR S&P NORTH AMERICAN NATURAL RESOURCES ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Canada | $ | 234,542,147 | $ | — | $ | — | $ | 234,542,147 | ||||||||||||
United States | 444,616,230 | — | — | 444,616,230 | ||||||||||||||||
Short-Term Investments | 29,057,811 | — | — | 29,057,811 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 708,216,188 | $ | — | $ | — | $ | 708,216,188 | ||||||||||||
|
|
|
|
|
|
|
|
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 3,488,016 | $ | 3,488,016 | $ | 32,165,902 | $ | 35,316,629 | $ | — | $ | — | 337,289 | $ | 337,289 | $ | 12,753 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 4,770,511 | 4,770,511 | 94,529,421 | 70,579,410 | — | — | 28,720,522 | 28,720,522 | 9,662 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 8,258,527 | $ | 126,695,323 | $ | 105,896,039 | $ | — | $ | — | $ | 29,057,811 | $ | 22,415 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
48
Table of Contents
STATEMENTS OF ASSETS AND LIABILITIES
March 31, 2018 (Unaudited)
SPDR Dow Jones Global Real Estate ETF | SPDR Dow Jones International Real Estate ETF | |||||||||
ASSETS | ||||||||||
Investments in unaffiliated issuers, at value* | $ | 2,573,692,167 | $ | 3,440,526,981 | ||||||
Investments in affiliated issuers, at value | 28,025,917 | 169,222,146 | ||||||||
|
|
|
| |||||||
Total Investments | 2,601,718,084 | 3,609,749,127 | ||||||||
Foreign currency, at value | 1,854,624 | 5,528,593 | ||||||||
Cash | 733,464 | — | ||||||||
Receivable for investments sold | — | 35,391,122 | ||||||||
Dividends receivable — unaffiliated issuers | 11,289,306 | 17,618,514 | ||||||||
Dividends receivable — affiliated issuers | 4,846 | 6,229 | ||||||||
Securities lending income receivable — unaffiliated issuers | 2,617 | 4,505 | ||||||||
Securities lending income receivable — affiliated issuers | 26,617 | 89,553 | ||||||||
Receivable for foreign taxes recoverable | 316,993 | 1,103,859 | ||||||||
|
|
|
| |||||||
TOTAL ASSETS | 2,615,946,551 | 3,669,491,502 | ||||||||
|
|
|
| |||||||
LIABILITIES | ||||||||||
Payable upon return of securities loaned | 25,171,435 | 166,351,563 | ||||||||
Payable for investments purchased | 618,155 | 1,886,832 | ||||||||
Payable for fund shares repurchased | — | 35,765,804 | ||||||||
Advisory fee payable | 3,255,056 | 5,328,269 | ||||||||
Trustees’ fees and expenses payable | 4,692 | 11,319 | ||||||||
Accrued expenses and other liabilities | 53 | 80 | ||||||||
|
|
|
| |||||||
TOTAL LIABILITIES | 29,049,391 | 209,343,867 | ||||||||
|
|
|
| |||||||
NET ASSETS | $ | 2,586,897,160 | $ | 3,460,147,635 | ||||||
|
|
|
| |||||||
NET ASSETS CONSIST OF: | ||||||||||
Paid-in Capital | $ | 2,596,505,383 | $ | 4,076,681,038 | ||||||
Undistributed (distribution in excess of) net investment income (loss) | (16,888,191 | ) | (78,803,865 | ) | ||||||
Accumulated net realized gain (loss) investments and foreign currency transactions | (46,642,992 | ) | (749,615,833 | ) | ||||||
Net unrealized appreciation (depreciation) on: | ||||||||||
Investments — unaffiliated issuers | 53,887,491 | 211,771,205 | ||||||||
Foreign currency translations | 35,469 | 115,090 | ||||||||
|
|
|
| |||||||
NET ASSETS | $ | 2,586,897,160 | $ | 3,460,147,635 | ||||||
|
|
|
| |||||||
NET ASSET VALUE PER SHARE | ||||||||||
Net asset value per share | $ | 46.19 | $ | 39.80 | ||||||
|
|
|
| |||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 56,000,000 | 86,935,379 | ||||||||
|
|
|
| |||||||
COST OF INVESTMENTS: | ||||||||||
Investments in unaffiliated issuers | $ | 2,519,804,676 | $ | 3,228,755,776 | ||||||
Investments in affiliated issuers | 28,025,917 | 169,222,146 | ||||||||
|
|
|
| |||||||
Total cost of investments | $ | 2,547,830,593 | $ | 3,397,977,922 | ||||||
|
|
|
| |||||||
Foreign currency, at cost | $ | 1,852,934 | $ | 5,533,647 | ||||||
|
|
|
| |||||||
* Includes investments in securities on loan, at value | $ | 42,984,802 | $ | 170,226,643 | ||||||
|
|
|
|
See accompanying notes to financial statements.
49
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF ASSETS AND LIABILITIES (continued)
March 31, 2018 (Unaudited)
SPDR S&P China ETF | SPDR S&P Global Natural Resources ETF | |||||||||
ASSETS | ||||||||||
Investments in unaffiliated issuers, at value* | $ | 1,169,534,960 | $ | 1,450,191,019 | ||||||
Investments in affiliated issuers, at value | 21,037,513 | 51,119,408 | ||||||||
|
|
|
| |||||||
Total Investments | 1,190,572,473 | 1,501,310,427 | ||||||||
Foreign currency, at value | 434,236 | 4,681,230 | ||||||||
Cash | 23,529 | 11 | ||||||||
Dividends receivable — unaffiliated issuers | 40,216 | 4,758,351 | ||||||||
Dividends receivable — affiliated issuers | 2,837 | 7,378 | ||||||||
Securities lending income receivable — unaffiliated issuers | 76,918 | 15,183 | ||||||||
Securities lending income receivable — affiliated issuers | 74,513 | 33,768 | ||||||||
Receivable for foreign taxes recoverable | — | 30,455 | ||||||||
Other Receivable | — | 1,382 | ||||||||
|
|
|
| |||||||
TOTAL ASSETS | 1,191,224,722 | 1,510,838,185 | ||||||||
|
|
|
| |||||||
LIABILITIES | ||||||||||
Payable upon return of securities loaned | 18,667,846 | 48,214,731 | ||||||||
Payable for investments purchased | — | 1,945,886 | ||||||||
Advisory fee payable | 1,750,178 | 1,451,763 | ||||||||
Trustees’ fees and expenses payable | 2,174 | 1,531 | ||||||||
Accrued expenses and other liabilities | 13 | 904 | ||||||||
|
|
|
| |||||||
TOTAL LIABILITIES | 20,420,211 | 51,614,815 | ||||||||
|
|
|
| |||||||
NET ASSETS | $ | 1,170,804,511 | $ | 1,459,223,370 | ||||||
|
|
|
| |||||||
NET ASSETS CONSIST OF: | ||||||||||
Paid-in Capital | $ | 1,041,159,915 | $ | 1,524,363,688 | ||||||
Undistributed (distribution in excess of) net investment income (loss) | (6,253,971 | ) | 9,476,697 | |||||||
Accumulated net realized gain (loss) investments and foreign currency transactions | (131,537,967 | ) | (206,104,522 | ) | ||||||
Net unrealized appreciation (depreciation) on: | ||||||||||
Investments — unaffiliated issuers | 267,435,437 | 131,519,486 | ||||||||
Foreign currency translations | 1,097 | (31,979 | ) | |||||||
|
|
|
| |||||||
NET ASSETS | $ | 1,170,804,511 | $ | 1,459,223,370 | ||||||
|
|
|
| |||||||
NET ASSET VALUE PER SHARE | ||||||||||
Net asset value per share | $ | 109.42 | $ | 48.16 | ||||||
|
|
|
| |||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 10,700,000 | 30,300,000 | ||||||||
|
|
|
| |||||||
COST OF INVESTMENTS: | ||||||||||
Investments in unaffiliated issuers | $ | 902,099,523 | $ | 1,318,671,533 | ||||||
Investments in affiliated issuers | 21,037,513 | 51,119,408 | ||||||||
|
|
|
| |||||||
Total cost of investments | $ | 923,137,036 | $ | 1,369,790,941 | ||||||
|
|
|
| |||||||
Foreign currency, at cost | $ | 435,801 | $ | 4,702,250 | ||||||
|
|
|
| |||||||
* Includes investments in securities on loan, at value | $ | 80,905,230 | $ | 84,253,583 | ||||||
|
|
|
|
See accompanying notes to financial statements.
50
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF ASSETS AND LIABILITIES (continued)
March 31, 2018 (Unaudited)
SPDR S&P International Small Cap ETF | SPDR S&P North American Natural Resources ETF | |||||||||
ASSETS | ||||||||||
Investments in unaffiliated issuers, at value* | $ | 914,758,454 | $ | 679,158,377 | ||||||
Investments in affiliated issuers, at value | 97,475,112 | 29,057,811 | ||||||||
|
|
|
| |||||||
Total Investments | 1,012,233,566 | 708,216,188 | ||||||||
Foreign currency, at value | 2,775,495 | 394,576 | ||||||||
Cash | 5,603 | — | ||||||||
Receivable for investments sold | 807,678 | — | ||||||||
Receivable for fund shares sold | — | 3,356,661 | ||||||||
Dividends receivable — unaffiliated issuers | 4,426,871 | 595,568 | ||||||||
Dividends receivable — affiliated issuers | 1,434 | 2,188 | ||||||||
Securities lending income receivable — unaffiliated issuers | 75,434 | 5,468 | ||||||||
Securities lending income receivable — affiliated issuers | 255,527 | 4,623 | ||||||||
Receivable for foreign taxes recoverable | 168,416 | — | ||||||||
|
|
|
| |||||||
TOTAL ASSETS | 1,020,750,024 | 712,575,272 | ||||||||
|
|
|
| |||||||
LIABILITIES | ||||||||||
Payable upon return of securities loaned | 95,964,387 | 28,720,522 | ||||||||
Payable for investments purchased | — | 3,356,426 | ||||||||
Deferred foreign taxes payable | 31,958 | — | ||||||||
Advisory fee payable | 930,606 | 771,500 | ||||||||
Trustees’ fees and expenses payable | 1,352 | 1,873 | ||||||||
Accrued expenses and other liabilities | 13 | 17 | ||||||||
|
|
|
| |||||||
TOTAL LIABILITIES | 96,928,316 | 32,850,338 | ||||||||
|
|
|
| |||||||
NET ASSETS | $ | 923,821,708 | $ | 679,724,934 | ||||||
|
|
|
| |||||||
NET ASSETS CONSIST OF: | ||||||||||
Paid-in Capital | $ | 904,538,738 | $ | 587,452,251 | ||||||
Undistributed (distribution in excess of) net investment income (loss) | (2,554,192 | ) | 2,237,451 | |||||||
Accumulated net realized gain (loss) investments and foreign currency transactions | (55,632,928 | ) | (8,791,418 | ) | ||||||
Net unrealized appreciation (depreciation) on: | ||||||||||
Investments — unaffiliated issuers** | 77,469,095 | 98,825,036 | ||||||||
Foreign currency translations | 995 | 1,614 | ||||||||
|
|
|
| |||||||
NET ASSETS | $ | 923,821,708 | $ | 679,724,934 | ||||||
|
|
|
| |||||||
NET ASSET VALUE PER SHARE | ||||||||||
Net asset value per share | $ | 35.13 | $ | 33.57 | ||||||
|
|
|
| |||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 26,300,000 | 20,250,000 | ||||||||
|
|
|
| |||||||
COST OF INVESTMENTS: | ||||||||||
Investments in unaffiliated issuers | $ | 837,258,671 | $ | 580,333,341 | ||||||
Investments in affiliated issuers | 97,475,112 | 29,057,811 | ||||||||
|
|
|
| |||||||
Total cost of investments | $ | 934,733,783 | $ | 609,391,152 | ||||||
|
|
|
| |||||||
Foreign currency, at cost | $ | 2,792,388 | $ | 394,131 | ||||||
|
|
|
| |||||||
* Includes investments in securities on loan, at value | $ | 124,248,733 | $ | 60,839,392 | ||||||
|
|
|
| |||||||
** Includes deferred foreign taxes | $ | 30,688 | $ | — | ||||||
|
|
|
|
See accompanying notes to financial statements.
51
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS
For the Six Months Ended March 31, 2018 (Unaudited)
SPDR Dow Jones Global Real Estate ETF | SPDR Dow Jones International Real Estate ETF | |||||||||
INVESTMENT INCOME | ||||||||||
Dividend income — unaffiliated issuers | $ | 54,098,660 | $ | 64,974,758 | ||||||
Dividend income — affiliated issuers | 34,687 | 23,099 | ||||||||
Dividend income — non-cash | — | 3,791,227 | ||||||||
Unaffiliated securities lending income | 9,118 | — | ||||||||
Affiliated securities lending income | 101,601 | 253,058 | ||||||||
Foreign taxes withheld | (2,018,501 | ) | (6,658,374 | ) | ||||||
|
|
|
| |||||||
TOTAL INVESTMENT INCOME (LOSS) | 52,225,565 | 62,383,768 | ||||||||
|
|
|
| |||||||
EXPENSES | ||||||||||
Advisory fee | 6,710,161 | 10,779,273 | ||||||||
Trustees’ fees and expenses | 24,119 | 33,593 | ||||||||
Miscellaneous expenses | 1,362 | 4,052 | ||||||||
|
|
|
| |||||||
TOTAL EXPENSES | 6,735,642 | 10,816,918 | ||||||||
|
|
|
| |||||||
NET INVESTMENT INCOME (LOSS) | 45,489,923 | 51,566,850 | ||||||||
|
|
|
| |||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||
Net realized gain (loss) on: | ||||||||||
Investments — unaffiliated issuers | (2,847,775 | ) | 15,547,242 | |||||||
In-kind redemptions — unaffiliated issuers | 17,069,055 | 60,541,716 | ||||||||
Foreign currency transactions | 403,344 | 1,331,105 | ||||||||
|
|
|
| |||||||
Net realized gain (loss) | 14,624,624 | 77,420,063 | ||||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation on: | ||||||||||
Investments — unaffiliated issuers | (100,624,015 | ) | 40,092,392 | |||||||
Foreign currency translations | 75,411 | 157,557 | ||||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation | (100,548,604 | ) | 40,249,949 | |||||||
|
|
|
| |||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (85,923,980 | ) | 117,670,012 | |||||||
|
|
|
| |||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | (40,434,057 | ) | $ | 169,236,862 | |||||
|
|
|
|
See accompanying notes to financial statements.
52
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended March 31, 2018 (Unaudited)
SPDR S&P China ETF | SPDR S&P Global Natural Resources ETF | |||||||||
INVESTMENT INCOME | ||||||||||
Dividend income — unaffiliated issuers | $ | 491,822 | $ | 16,631,419 | ||||||
Dividend income — affiliated issuers | 17,272 | 24,103 | ||||||||
Dividend income — non-cash | 178,493 | 3,098,163 | ||||||||
Unaffiliated securities lending income | 501,676 | 30,048 | ||||||||
Affiliated securities lending income | 416,932 | 183,019 | ||||||||
Foreign taxes withheld | (3,358 | ) | (1,027,453 | ) | ||||||
|
|
|
| |||||||
TOTAL INVESTMENT INCOME (LOSS) | 1,602,837 | 18,939,299 | ||||||||
|
|
|
| |||||||
EXPENSES | ||||||||||
Advisory fee | 3,350,889 | 2,774,633 | ||||||||
Trustees’ fees and expenses | 9,120 | 10,721 | ||||||||
Miscellaneous expenses | 507 | 1,794 | ||||||||
|
|
|
| |||||||
TOTAL EXPENSES | 3,360,516 | 2,787,148 | ||||||||
|
|
|
| |||||||
NET INVESTMENT INCOME (LOSS) | (1,757,679 | ) | 16,152,151 | |||||||
|
|
|
| |||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||
Net realized gain (loss) on: | ||||||||||
Investments — unaffiliated issuers | 4,101,720 | (9,306,365 | ) | |||||||
In-kind redemptions — unaffiliated issuers | — | 38,524,672 | ||||||||
Foreign currency transactions | 6,433 | 25,262 | ||||||||
|
|
|
| |||||||
Net realized gain (loss) | 4,108,153 | 29,243,569 | ||||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation on: | ||||||||||
Investments — unaffiliated issuers | 83,911,279 | 29,874,238 | ||||||||
Foreign currency translations | 1,244 | 545 | ||||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation | 83,912,523 | 29,874,783 | ||||||||
|
|
|
| |||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) | 88,020,676 | 59,118,352 | ||||||||
|
|
|
| |||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | 86,262,997 | $ | 75,270,503 | ||||||
|
|
|
|
See accompanying notes to financial statements.
53
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended March 31, 2018 (Unaudited)
SPDR S&P International Small Cap ETF | SPDR S&P North American Natural Resources ETF | |||||||||
INVESTMENT INCOME | ||||||||||
Dividend income — unaffiliated issuers | $ | 9,689,562 | $ | 9,284,112 | ||||||
Dividend income — affiliated issuers | 24,500 | 12,753 | ||||||||
Unaffiliated securities lending income | 425,473 | 31,691 | ||||||||
Affiliated securities lending income | 1,512,147 | 9,662 | ||||||||
Foreign taxes withheld | (937,126 | ) | (389,154 | ) | ||||||
|
|
|
| |||||||
TOTAL INVESTMENT INCOME (LOSS) | 10,714,556 | 8,949,064 | ||||||||
|
|
|
| |||||||
EXPENSES | ||||||||||
Advisory fee | 1,793,944 | 1,688,281 | ||||||||
Trustees’ fees and expenses | 7,484 | 8,940 | ||||||||
Miscellaneous expenses | 3,098 | 52 | ||||||||
|
|
|
| |||||||
TOTAL EXPENSES | 1,804,526 | 1,697,273 | ||||||||
|
|
|
| |||||||
NET INVESTMENT INCOME (LOSS) | 8,910,030 | 7,251,791 | ||||||||
|
|
|
| |||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||
Net realized gain (loss) on: | ||||||||||
Investments — unaffiliated issuers* | (55,142,287 | ) | (8,513,539 | ) | ||||||
In-kind redemptions — unaffiliated issuers | 15,947,947 | 120,608,930 | ||||||||
Foreign currency transactions | 33,542 | (78,466 | ) | |||||||
|
|
|
| |||||||
Net realized gain (loss) | (39,160,798 | ) | 112,016,925 | |||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation on: | ||||||||||
Investments — unaffiliated issuers** | 77,218,589 | (108,166,153 | ) | |||||||
Foreign currency translations | 4,861 | 35,410 | ||||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation | 77,223,450 | (108,130,743 | ) | |||||||
|
|
|
| |||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) | 38,062,652 | 3,886,182 | ||||||||
|
|
|
| |||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | 46,972,682 | $ | 11,137,973 | ||||||
|
|
|
| |||||||
* Includes foreign capital gain taxes | $ | (1,270 | ) | $ | — | |||||
|
|
|
| |||||||
** Includes foreign deferred taxes | $ | (30,688 | ) | $ | — | |||||
|
|
|
|
See accompanying notes to financial statements.
54
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS
SPDR Dow Jones Global Real Estate ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 45,489,923 | $ | 64,602,385 | ||||
Net realized gain (loss) | 14,624,624 | 16,578,175 | ||||||
Net change in unrealized appreciation/depreciation | (100,548,604 | ) | (96,432,712 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | (40,434,057 | ) | (15,252,152 | ) | ||||
|
|
|
| |||||
Net equalization credits and charges | 268,730 | (65,431 | ) | |||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (44,104,984 | ) | (89,877,393 | ) | ||||
Net realized gains | — | (857,139 | ) | |||||
|
|
|
| |||||
Total distributions to shareholders | (44,104,984 | ) | (90,734,532 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | 58,219,519 | 475,561,849 | ||||||
Cost of shares redeemed | (74,949,539 | ) | (175,481,476 | ) | ||||
Net income equalization | (268,730 | ) | 65,431 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | (16,998,750 | ) | 300,145,804 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | (101,269,061 | ) | 194,093,689 | |||||
|
|
|
| |||||
Net assets at beginning of period | 2,688,166,221 | 2,494,072,532 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 2,586,897,160 | $ | 2,688,166,221 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | (16,888,191 | ) | $ | (18,273,130 | ) | ||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 1,200,000 | 10,000,000 | ||||||
Shares redeemed | (1,600,000 | ) | (3,800,000 | ) | ||||
|
|
|
| |||||
Net increase (decrease) | (400,000 | ) | 6,200,000 | |||||
|
|
|
|
See accompanying notes to financial statements.
55
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR Dow Jones International Real Estate ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 51,566,850 | $ | 113,061,250 | ||||
Net realized gain (loss) | 77,420,063 | 5,247,767 | ||||||
Net change in unrealized appreciation/depreciation | 40,249,949 | (154,768,441 | ) | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 169,236,862 | (36,459,424 | ) | |||||
|
|
|
| |||||
Net equalization credits and charges | 12,143,075 | 15,880,576 | ||||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (37,502,617 | ) | (311,582,179 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | 20,946,055 | 256,719,441 | ||||||
Cost of shares redeemed | (347,165,251 | ) | (782,280,454 | ) | ||||
Net income equalization | (12,143,075 | ) | (15,880,576 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | (338,362,271 | ) | (541,441,589 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | (194,484,951 | ) | (873,602,616 | ) | ||||
|
|
|
| |||||
Net assets at beginning of period | 3,654,632,586 | 4,528,235,202 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 3,460,147,635 | $ | 3,654,632,586 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | (78,803,865 | ) | $ | (92,868,098 | ) | ||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 500,000 | 7,000,000 | ||||||
Shares redeemed | (8,800,000 | ) | (20,600,000 | ) | ||||
|
|
|
| |||||
Net increase (decrease) | (8,300,000 | ) | (13,600,000 | ) | ||||
|
|
|
|
See accompanying notes to financial statements.
56
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P China ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | (1,757,679 | ) | $ | 16,238,110 | |||
Net realized gain (loss) | 4,108,153 | 12,351,245 | ||||||
Net change in unrealized appreciation/depreciation | 83,912,523 | 216,230,520 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 86,262,997 | 244,819,875 | ||||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (17,293,452 | ) | (13,804,543 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | 72,595,854 | 65,862,580 | ||||||
Cost of shares redeemed | — | (79,843,509 | ) | |||||
Other capital | — | 81,680 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | 72,595,854 | (13,899,249 | ) | |||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | 141,565,399 | 217,116,083 | ||||||
|
|
|
| |||||
Net assets at beginning of period | 1,029,239,112 | 812,123,029 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 1,170,804,511 | $ | 1,029,239,112 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | (6,253,971 | ) | $ | 12,797,160 | |||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 600,000 | 800,000 | ||||||
Shares redeemed | — | (1,000,000 | ) | |||||
|
|
|
| |||||
Net increase (decrease) | 600,000 | (200,000 | ) | |||||
|
|
|
|
See accompanying notes to financial statements.
57
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P Global Natural Resources ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 16,152,151 | $ | 27,102,435 | ||||
Net realized gain (loss) | 29,243,569 | (14,310,322 | ) | |||||
Net change in unrealized appreciation/depreciation | 29,874,783 | 164,355,129 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 75,270,503 | 177,147,242 | ||||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (17,742,516 | ) | (21,131,997 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | 286,005,809 | 383,018,989 | ||||||
Cost of shares redeemed | (110,463,967 | ) | (35,713,570 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | 175,541,842 | 347,305,419 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | 233,069,829 | 503,320,664 | ||||||
|
|
|
| |||||
Net assets at beginning of period | 1,226,153,541 | 722,832,877 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 1,459,223,370 | $ | 1,226,153,541 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 9,476,697 | $ | 11,067,062 | ||||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 5,850,000 | 9,150,000 | ||||||
Shares redeemed | (2,300,000 | ) | (900,000 | ) | ||||
|
|
|
| |||||
Net increase (decrease) | 3,550,000 | 8,250,000 | ||||||
|
|
|
|
See accompanying notes to financial statements.
58
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P International Small Cap ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 8,910,030 | $ | 15,381,998 | ||||
Net realized gain (loss) | (39,160,798 | ) | 30,389,035 | |||||
Net change in unrealized appreciation/depreciation | 77,223,450 | 74,520,391 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 46,972,682 | 120,291,424 | ||||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (20,549,602 | ) | (18,173,278 | ) | ||||
Net realized gains | (25,045,644 | ) | (8,822,560 | ) | ||||
|
|
|
| |||||
Total distributions to shareholders | (45,595,246 | ) | (26,995,838 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | 127,692,902 | 109,633,538 | ||||||
Cost of shares redeemed | (91,678,167 | ) | (18,811,709 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | 36,014,735 | 90,821,829 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | 37,392,171 | 184,117,415 | ||||||
|
|
|
| |||||
Net assets at beginning of period | 886,429,537 | 702,312,122 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 923,821,708 | $ | 886,429,537 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | (2,554,192 | ) | $ | 9,085,380 | |||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 3,500,000 | 3,500,000 | ||||||
Shares redeemed | (2,600,000 | ) | (600,000 | ) | ||||
|
|
|
| |||||
Net increase (decrease) | 900,000 | 2,900,000 | ||||||
|
|
|
|
See accompanying notes to financial statements.
59
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P North American Natural Resources ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 7,251,791 | $ | 13,633,658 | ||||
Net realized gain (loss) | 112,016,925 | 7,457,091 | ||||||
Net change in unrealized appreciation/depreciation | (108,130,743 | ) | 17,983,725 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 11,137,973 | 39,074,474 | ||||||
|
|
|
| |||||
Net equalization credits and charges | (68,156 | ) | 344,809 | |||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (9,205,689 | ) | (13,273,288 | ) | ||||
Net realized gains | (4,485,257 | ) | (27,661,995 | ) | ||||
|
|
|
| |||||
Total distributions to shareholders | (13,690,946 | ) | (40,935,283 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | 53,268,085 | 199,954,790 | ||||||
Cost of shares redeemed | (387,750,182 | ) | (10,426,420 | ) | ||||
Net income equalization | 68,156 | (344,809 | ) | |||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | (334,413,941 | ) | 189,183,561 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | (337,035,070 | ) | 187,667,561 | |||||
|
|
|
| |||||
Net assets at beginning of period | 1,016,760,004 | 829,092,443 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 679,724,934 | $ | 1,016,760,004 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 2,237,451 | $ | 4,191,349 | ||||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 1,550,000 | 6,150,000 | ||||||
Shares redeemed | (11,500,000 | ) | (300,000 | ) | ||||
|
|
|
| |||||
Net increase (decrease) | (9,950,000 | ) | 5,850,000 | |||||
|
|
|
|
See accompanying notes to financial statements.
60
Table of Contents
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR Dow Jones Global Real Estate ETF | ||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||
Net asset value, beginning of period | $ | 47.66 | $ | 49.68 | $ | 45.11 | $ | 44.24 | $ | 42.16 | $ | 40.56 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (a) | 0.80 | 1.19 | 1.23 | 1.17 | 1.23 | 1.16 | ||||||||||||||||||
Net realized and unrealized gain (loss) (b) | (1.50 | ) | (1.51 | ) | 4.88 | 1.04 | 2.24 | 2.21 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total from investment operations | (0.70 | ) | (0.32 | ) | 6.11 | 2.21 | 3.47 | 3.37 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net equalization credits and charges (a) | 0.00 | (c) | (0.00 | )(c) | 0.03 | 0.02 | 0.07 | 0.10 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||
Net investment income | (0.77 | ) | (1.68 | ) | (1.57 | ) | (1.36 | ) | (1.46 | ) | (1.87 | ) | ||||||||||||
Net realized gains | — | (0.02 | ) | — | — | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total distributions | (0.77 | ) | (1.70 | ) | (1.57 | ) | (1.36 | ) | (1.46 | ) | (1.87 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net asset value, end of period | $ | 46.19 | $ | 47.66 | $ | 49.68 | $ | 45.11 | $ | 44.24 | $ | 42.16 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total return (d) | (1.50 | )% | (0.55 | )% | 13.71 | % | 4.96 | % | 8.44 | % | 8.61 | % | ||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 2,586,897 | $ | 2,688,166 | $ | 2,494,073 | $ | 1,899,194 | $ | 1,473,132 | $ | 1,003,377 | ||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||
Total expenses | 0.50 | %(e) | 0.50 | % | 0.50 | % | 0.50 | % | 0.50 | % | 0.50 | % | ||||||||||||
Net investment income (loss) | 3.39 | %(e) | 2.52 | % | 2.56 | % | 2.46 | % | 2.77 | % | 2.71 | % | ||||||||||||
Portfolio turnover rate (f) | 4 | %(g) | 13 | % | 9 | % | 6 | % | 7 | % | 8 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
See accompanying notes to financial statements.
61
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR Dow Jones International Real Estate ETF | ||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||
Net asset value, beginning of period | $ | 38.37 | $ | 41.61 | $ | 39.24 | $ | 41.54 | $ | 42.00 | $ | 39.29 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (a) | 0.56 | 1.16 | 1.08 | 1.02 | 1.39 | 1.29 | ||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 1.15 | (1.36 | ) | 2.32 | (2.07 | ) | 0.16 | 4.01 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total from investment operations | 1.71 | (0.20 | ) | 3.40 | (1.05 | ) | 1.55 | 5.30 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net equalization credits and charges (a) | 0.13 | 0.16 | 0.08 | (0.01 | ) | (0.06 | ) | 0.02 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||
Net investment income | (0.41 | ) | (3.20 | ) | (1.11 | ) | (1.24 | ) | (1.95 | ) | (2.61 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net asset value, end of period | $ | 39.80 | $ | 38.37 | $ | 41.61 | $ | 39.24 | $ | 41.54 | $ | 42.00 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total return (c) | 4.79 | % | 0.48 | % | 8.93 | % | (2.66 | )% | 3.57 | % | 13.83 | %(d) | ||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 3,460,148 | $ | 3,654,633 | $ | 4,528,235 | $ | 4,753,058 | $ | 4,903,056 | $ | 4,045,899 | ||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||
Total expenses | 0.59 | %(e) | 0.59 | % | 0.59 | % | 0.60 | % | 0.59 | % | 0.59 | % | ||||||||||||
Net investment income (loss) | 2.82 | %(e) | 3.03 | % | 2.65 | % | 2.40 | % | 3.27 | % | 3.10 | % | ||||||||||||
Portfolio turnover rate (f) | 6 | %(g) | 18 | % | 14 | % | 8 | % | 8 | % | 11 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(d) | If the Adviser had not made a contribution during the period ended September 30, 2013, the total return would have remained 13.83%. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
See accompanying notes to financial statements.
62
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P China ETF | ||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||
Net asset value, beginning of period | $ | 101.90 | $ | 78.85 | $ | 68.73 | $ | 76.42 | $ | 74.18 | $ | 65.45 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (a) | (0.17 | ) | 1.57 | (b) | 1.38 | 1.92 | 1.77 | 1.63 | ||||||||||||||||
Net realized and unrealized gain (loss) (c) | 9.40 | 22.78 | 10.68 | (8.34 | ) | 1.93 | 8.72 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total from investment operations | 9.23 | 24.35 | 12.06 | (6.42 | ) | 3.70 | 10.35 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Other capital | — | 0.01 | 0.00 | (d) | 0.02 | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||
Net investment income | (1.71 | ) | (1.31 | ) | (1.94 | ) | (1.29 | ) | (1.46 | ) | (1.62 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net asset value, end of period | $ | 109.42 | $ | 101.90 | $ | 78.85 | $ | 68.73 | $ | 76.42 | $ | 74.18 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total return (e) | 9.09 | % | 31.50 | %(b) | 17.81 | % | (8.69 | )% | 5.00 | % | 16.20 | % | ||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 1,170,805 | $ | 1,029,239 | $ | 812,123 | $ | 817,908 | $ | 947,605 | $ | 897,623 | ||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||
Total expenses | 0.59 | %(f) | 0.59 | % | 0.59 | % | 0.59 | % | 0.59 | % | 0.59 | % | ||||||||||||
Net investment income (loss) | (0.31 | )%(f) | 1.85 | %(b) | 1.94 | % | 2.32 | % | 2.33 | % | 2.31 | % | ||||||||||||
Portfolio turnover rate (g) | 2 | %(h) | 5 | % | 6 | % | 14 | % | 10 | % | 12 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | Net investment income per share and ratio of net investment income to average net assets reflect receipt of special dividend from portfolio holding. The resulting increase to net investment income amounted to $0.19 per share and 0.23% of average net assets. If the special dividends were not received during the year ended September 30, 2017, the total return would have been 31.24%. |
(c) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. |
(d) | Amount is less than $0.005 per share. |
(e) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(f) | Annualized. |
(g) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(h) | Not annualized. |
See accompanying notes to financial statements.
63
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Global Natural Resources ETF | ||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||
Net asset value, beginning of period | $ | 45.84 | $ | 39.07 | $ | 32.56 | $ | 48.62 | $ | 48.54 | $ | 50.90 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (a) | 0.56 | 1.19 | 0.97 | 1.51 | 1.33 | 1.30 | ||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 2.40 | 6.51 | 6.63 | (16.27 | ) | (0.10 | ) | (2.41 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total from investment operations | 2.96 | 7.70 | 7.60 | (14.76 | ) | 1.23 | (1.11 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||
Net investment income | (0.64 | ) | (0.93 | ) | (1.09 | ) | (1.30 | ) | (1.15 | ) | (1.25 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net asset value, end of period | $ | 48.16 | $ | 45.84 | $ | 39.07 | $ | 32.56 | $ | 48.62 | $ | 48.54 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total return (c) | 6.44 | % | 19.95 | % | 23.87 | % | (30.97 | )% | 2.39 | % | (2.09 | )% | ||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 1,459,223 | $ | 1,226,154 | $ | 722,833 | $ | 569,822 | $ | 595,617 | $ | 407,763 | ||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||
Total expenses | 0.40 | %(d) | 0.41 | % | 0.40 | % | 0.40 | % | 0.40 | % | 0.40 | % | ||||||||||||
Net investment income (loss) | 2.33 | %(d) | 2.82 | % | 2.75 | % | 3.52 | % | 2.63 | % | 2.63 | % | ||||||||||||
Portfolio turnover rate (e) | 8 | %(f) | 25 | % | 23 | % | 21 | % | 18 | % | 31 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(d) | Annualized. |
(e) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(f) | Not annualized. |
See accompanying notes to financial statements.
64
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P International Small Cap ETF | ||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||
Net asset value, beginning of period | $ | 34.90 | $ | 31.21 | $ | 27.57 | $ | 32.76 | $ | 32.82 | $ | 27.49 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (a) | 0.35 | 0.63 | 0.62 | 0.57 | 0.54 | 0.65 | ||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 1.72 | 4.23 | 3.76 | (2.14 | ) | 0.36 | 5.37 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total from investment operations | 2.07 | 4.86 | 4.38 | (1.57 | ) | 0.90 | 6.02 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||
Net investment income | (0.83 | ) | (0.79 | ) | (0.59 | ) | (0.49 | ) | (0.96 | ) | (0.69 | ) | ||||||||||||
Net realized gains | (1.01 | ) | (0.38 | ) | (0.15 | ) | (3.13 | ) | — | — | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total distributions | (1.84 | ) | (1.17 | ) | (0.74 | ) | (3.62 | ) | (0.96 | ) | (0.69 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net asset value, end of period | $ | 35.13 | $ | 34.90 | $ | 31.21 | $ | 27.57 | $ | 32.76 | $ | 32.82 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total return (c) | 5.88 | % | 16.30 | % | 16.18 | % | (4.77 | )% | 2.69 | % | 22.25 | % | ||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 923,822 | $ | 886,430 | $ | 702,312 | $ | 650,556 | $ | 792,719 | $ | 813,871 | ||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||
Total expenses | 0.40 | %(d) | 0.40 | % | 0.40 | % | 0.47 | % | 0.60 | % | 0.59 | % | ||||||||||||
Net investment income (loss) | 1.99 | %(d) | 1.99 | % | 2.15 | % | 1.93 | % | 1.59 | % | 2.20 | % | ||||||||||||
Portfolio turnover rate (e) | 2 | %(f) | 31 | % | 20 | % | 17 | % | 51 | % | 21 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(d) | Annualized. |
(e) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(f) | Not annualized. |
See accompanying notes to financial statements.
65
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P North American Natural Resources ETF | ||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | For the Period 12/16/15* - 9/30/16 | ||||||||||
Net asset value, beginning of period | $ | 33.67 | $ | 34.05 | $ | 25.00 | ||||||
|
|
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income (loss) (a) | 0.26 | 0.50 | 0.39 | |||||||||
Net realized and unrealized gain (loss) (b) | 0.09 | 0.75 | 8.91 | |||||||||
|
|
|
|
|
| |||||||
Total from investment operations | 0.35 | 1.25 | 9.30 | |||||||||
|
|
|
|
|
| |||||||
Net equalization credits and charges (a) | (0.00 | )(c) | 0.01 | (0.02 | ) | |||||||
|
|
|
|
|
| |||||||
Distributions to shareholders from: | ||||||||||||
Net investment income | (0.30 | ) | (0.51 | ) | (0.25 | ) | ||||||
Net realized gains | (0.15 | ) | (1.13 | ) | — | |||||||
|
|
|
|
|
| |||||||
Total distributions | (0.45 | ) | (1.64 | ) | (0.25 | ) | ||||||
|
|
|
|
|
| |||||||
Net asset value, end of period | $ | 33.57 | $ | 33.67 | $ | 34.05 | ||||||
|
|
|
|
|
| |||||||
Total return (d) | 0.95 | % | 3.74 | % | 37.21 | % | ||||||
Ratios and Supplemental Data: | ||||||||||||
Net assets, end of period (in 000s) | $ | 679,725 | $ | 1,016,760 | $ | 829,092 | ||||||
Ratios to average net assets: | ||||||||||||
Total expenses | 0.35 | %(e) | 0.35 | % | 0.35 | %(e) | ||||||
Net investment income (loss) | 1.50 | %(e) | 1.53 | % | 1.63 | %(e) | ||||||
Portfolio turnover rate (f) | 9 | %(g) | 15 | % | 15 | %(g) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
See accompanying notes to financial statements.
66
Table of Contents
NOTES TO FINANCIAL STATEMENTS
March 31, 2018 (Unaudited)
1. | Organization |
SPDR Index Shares Funds (the “Trust”), a Massachusetts business trust, registered under the Investment Company Act of 1940, as amended (“1940 Act”), is an open-end management investment company.
As of March 31, 2018, the Trust consists of thirty (30) series, each of which represents a separate series of beneficial interest in the Trust. The Declaration of Trust permits the Board of Trustees of the Trust (the “Board”) to authorize the issuance of an unlimited number of shares of beneficial interest at $0.01 par value. The financial statements herein relate to the following series (each a “Fund”, and collectively, the “Funds”):
SPDR Dow Jones Global Real Estate ETF
SPDR Dow Jones International Real Estate ETF
SPDR S&P China ETF
SPDR S&P Global Natural Resources ETF
SPDR S&P International Small Cap ETF
SPDR S&P North American Natural Resources ETF
Each Fund is classified as a non-diversified investment company under the 1940 Act.
Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.
2. | Summary of Significant Accounting Policies |
The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements:
The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies.
67
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
Security Valuation
Each Fund’s investments are valued at fair value each day that the New York Stock Exchange (“NYSE”) is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the NYSE is not open. Fair value is generally defined as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. By its nature, a fair value price is a good faith estimate of the valuation in a current sale and may not reflect an actual market price. The investments of each Fund are valued pursuant to the policy and procedures developed by the Oversight Committee (the “Committee”) and approved by the Board. The Committee provides oversight of the valuation of investments for the Funds. The Board has responsibility for determining the fair value of investments.
Valuation techniques used to value each Fund’s investments by major category are as follows:
• | Equity investments (including registered investment companies that are exchange-traded funds) traded on a recognized securities exchange for which market quotations are readily available are valued at the last sale price or official closing price, as applicable, on the primary market or exchange on which they trade. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last published sale price or at fair value. |
• | Rights and warrants are valued at the last reported sale price obtained from independent pricing services or brokers on the valuation date. If no price is obtained from pricing services or brokers, valuation will be based upon the intrinsic value, pursuant to the valuation policy and procedures approved by the Board. |
• | Investments in registered investment companies (including money market funds) or other unitized pooled investment vehicles that are not traded on an exchange are valued at that day’s published net asset value (“NAV”) per share or unit. |
In the event prices or quotations are not readily available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with the valuation policy and procedures approved by the Board.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Funds’ underlying benchmarks. Various inputs are used in determining the value of the Funds’ investments.
68
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
The Funds value their assets and liabilities at fair value using a fair value hierarchy consisting of three broad levels that prioritize the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The categorization of a value determined for an investment within the hierarchy is based upon the pricing transparency of the investment and is not necessarily an indication of the risk associated with investing in it.
The three levels of the fair value hierarchy are as follows:
• | Level 1 – Unadjusted quoted prices in active markets for an identical asset or liability; |
• | Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and |
• | Level 3 – Unobservable inputs for the asset or liability, including the Committee’s assumptions used in determining the fair value of investments. |
The value of each Fund’s investments according to the fair value hierarchy as of March 31, 2018, is disclosed in each Fund’s respective Schedule of Investments.
Changes in valuation techniques may result in transfers in or out of an assigned level within the fair value hierarchy. Transfers between different levels of the fair value hierarchy are recognized at the end of the reporting period. The Funds had no material transfers between levels for the period ended March 31, 2018.
Investment Transactions and Income Recognition
Investment transactions are accounted for on trade date for financial reporting purposes. Realized gains and losses from the sale or disposition of investments and foreign exchange transactions, if any, are determined using the identified cost method.
Dividend income and capital gain distributions, if any, are recognized on the ex-dividend date, net of any foreign taxes withheld at source, if any. Non-cash dividends received in the form of stock, if any, are recorded as dividend income at fair value. Distributions received by the Funds may include a return of capital that is estimated by
69
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
management. Such amounts are recorded as a reduction of the cost of investments or reclassified to capital gains.
Certain Funds invest in real estate investment trusts (“REITs”). REITs determine the tax character of their distributions annually and may characterize a portion of their distributions as a return of capital or capital gain. The Funds’ policy is to record all REIT distributions initially as dividend income and re-designate the prior calendar year’s to return of capital or capital gain distributions at year end based on information provided by the REIT and/or SSGA Funds Management, Inc.’s (the “Adviser” or “SSGA FM”) estimates of such re-designations for which actual information has not yet been reported.
Expenses
Certain expenses, which are directly identifiable to a specific Fund, are applied to that Fund within the Trust. Other expenses which cannot be attributed to a specific Fund are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative net assets of the Funds within the Trust.
Foreign Currency Translation
The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies as well as investment securities and other assets and liabilities denominated in a foreign currency are translated to U.S. dollars using exchange rates at period end. Purchases and sales of securities, income receipts and expense payments denominated in foreign currencies are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions.
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
Foreign Taxes
The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with SSGA FM’s understanding of the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in the Statements of Operations, if applicable. Foreign taxes payable or deferred as of March 31, 2018, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
70
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
Equalization
Certain Funds in the Trust follow the accounting practice known as “Equalization” by which a portion of the proceeds from sales and costs of reacquiring Fund shares, equivalent on a per share basis to the amount of distributable net investment income on the date of the transaction, is credited or charged to undistributed net investment income. As a result, undistributed net investment income per share is unaffected by sales or reacquisition of Fund shares. Amounts related to Equalization can be found on the Statements of Changes in Net Assets.
The following Funds utilized equalization during the period ended March 31, 2018:
SPDR Dow Jones Global Real Estate ETF
SPDR Dow Jones International Real Estate ETF
SPDR S&P North American Natural Resources ETF
Distributions
The SPDR Dow Jones Global Real Estate ETF and the SPDR Dow Jones International Real Estate ETF declare and distribute from net investment income, if any, to their shareholders quarterly. The SPDR S&P North American Natural Resources ETF, SPDR S&P China ETF, SPDR S&P International Small Cap ETF and SPDR S&P Global Natural Resources ETF declare and distribute from net investment income, if any, to their shareholders semi-annually.
Net realized capital gains, if any, are distributed annually. Dividends may be declared and paid more frequently or at any other times to improve index tracking or to comply with the distribution requirements of the Internal Revenue Code. The amount and character of income and capital gains to be distributed are determined in accordance with applicable tax regulations which may differ from net investment income and realized gains recognized for U.S. GAAP purposes.
3. | Fees and Transactions with Affiliates |
Advisory Fee
The Trust, on behalf of each Fund, has entered into an Investment Advisory Agreement with SSGA FM. For its advisory services to the Funds, facilities furnished, and expenses borne by the Adviser, each Fund pays the Adviser a fee accrued daily and paid
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NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
quarterly, based on a percentage of each Fund’s average daily net assets as shown in the following table:
Annual Rate | |||||
SPDR Dow Jones Global Real Estate ETF | 0.50 | % | |||
SPDR Dow Jones International Real Estate ETF | 0.59 | ||||
SPDR S&P China ETF | 0.59 | ||||
SPDR S&P Global Natural Resources ETF | 0.40 | ||||
SPDR S&P International Small Cap ETF | 0.40 | ||||
SPDR S&P North American Natural Resources ETF | 0.35 |
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 expenses, taxes, interest, the fees and expenses of the Trust’s trustees who are “not interested persons” of the Trust, as defined in the 1940 Act, (“Independent Trustees”) (including any Trustees’ counsel fees), litigation expenses, acquired fund fees and expenses and other extraordinary expenses.
Administrator, Custodian, Sub-Administrator and Transfer Agent Fees
SSGA FM serves as administrator and State Street Bank and Trust Company (“State Street”), an affiliate of the Adviser, serves as custodian, sub-administrator and transfer agent. State Street receives fees for its services as custodian, sub-administrator and transfer agent from the Adviser.
Distributor
State Street Global Advisors Funds Distributors, LLC (“SSGA FD” or the “Distributor”), an affiliate of the Adviser, serves as the Distributor of the Trust.
Other Transactions with Affiliates - Securities Lending
State Street, an affiliate of the Funds, acts as the securities lending agent for the Funds, pursuant to an amended and restated securities lending authorization agreement dated January 6, 2017.
Proceeds collected by State Street on investment of cash collateral or any fee income are allocated as follows (after deduction of such other amounts payable to State Street under the terms of the securities lending agreement): 85% payable to the Fund, and 15% payable to State Street.
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NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
In addition, cash collateral from lending activities is invested in the State Street Navigator Securities Lending Government Money Market Portfolio, an affiliated money market fund, for which SSGA FM serves as investment adviser. See Note 8 for additional information regarding securities lending.
Other Transactions with Affiliates
The Funds may invest in affiliated entities, including securities issued by State Street Corporation, affiliated funds, or entities deemed to be affiliates as a result of the Funds owning more than five percent of the entity’s voting securities or outstanding shares. Amounts relating to these transactions during the period ended March 31, 2018, are disclosed in the Schedules of Investments.
4. | Trustees’ Fees |
The fees and expenses of the Trust’s trustees, who are not “interested persons” of the Trust, as defined in the 1940 Act (“Independent Trustees”), are paid directly by the Funds. The Independent Trustees are reimbursed for travel and other out-of-pocket expenses in connection with meeting attendance and industry seminars.
5. | Investment Transactions |
Purchases and sales of investments (excluding in-kind transactions, short term investments and derivative contracts) for the period ended March 31, 2018, were as follows:
Purchases | Sales | |||||||
SPDR Dow Jones Global Real Estate ETF | $ | 171,139,483 | $ | 185,062,388 | ||||
SPDR Dow Jones International Real Estate ETF | 257,409,823 | 565,303,548 | ||||||
SPDR S&P China ETF | 76,411,897 | 17,317,575 | ||||||
SPDR S&P Global Natural Resources ETF | 149,647,493 | 106,023,104 | ||||||
SPDR S&P International Small Cap ETF | 20,233,038 | 54,977,839 | ||||||
SPDR S&P North American Natural Resources ETF | 87,260,502 | 88,087,783 |
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
For the period ended March 31, 2018, the following Funds had in-kind contributions, redemptions and net realized gains/losses in the amounts as follows:
In-kind Contributions | In-kind Redemptions | In-kind Net Realized Gains/(Losses) | ||||||||||
SPDR Dow Jones Global Real Estate ETF | $ | 57,938,581 | $ | 74,674,949 | $ | 17,069,055 | ||||||
SPDR Dow Jones International Real Estate ETF | 20,780,831 | 344,367,972 | 60,541,716 | |||||||||
SPDR S&P China ETF | 11,919,223 | — | — | |||||||||
SPDR S&P Global Natural Resources ETF | 238,043,763 | 110,299,694 | 38,524,672 | |||||||||
SPDR S&P International Small Cap ETF | 101,259,362 | 71,978,458 | 15,947,947 | |||||||||
SPDR S&P North American Natural Resources ETF | 53,268,695 | 389,000,735 | 120,608,930 |
6. | Shareholder Transactions |
Each Fund issues and redeems its shares, at NAV, by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”). Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets.
The consideration for the purchase of Creation Units of a Fund may consist of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to the Trust and/or custodian, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. An additional variable fee may be charged for certain transactions. Such variable charges, if any, are included in “Other Capital” on the Statements of Changes on Net Assets.
7. | Income Tax Information |
The Funds have qualified and intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code of 1986, as amended. Each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. Therefore, no provision for federal income tax is required.
The Funds file federal and various state and local tax returns as required. No income tax returns are currently under examination. Generally, the federal returns are subject to examination by the Internal Revenue Service for a period of three years from date of filing, while the state returns may remain open for an additional year depending upon
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
jurisdiction. As of September 30, 2017, SSGA FM has analyzed each Fund’s tax positions taken on tax returns for all open years and does not believe there are any uncertain tax positions that would require recognition of a tax liability.
Distributions to shareholders are recorded on ex-dividend date. Income dividends and gain distributions are determined in accordance with income tax rules and regulations, which may differ from generally accepted accounting principles.
As of March 31, 2018, gross unrealized appreciation and gross unrealized depreciation of investments based on cost for federal income tax purposes were as follows:
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |||||||||||||
SPDR Dow Jones Global Real Estate ETF | $ | 2,577,945,414 | $ | 245,698,672 | $ | 221,926,002 | $ | 23,772,670 | ||||||||
SPDR Dow Jones International Real Estate ETF | 3,539,911,790 | 375,081,916 | 305,244,579 | 69,837,337 | ||||||||||||
SPDR S&P China ETF | 930,102,433 | 387,486,750 | 127,016,710 | 260,470,040 | ||||||||||||
SPDR S&P Global Natural Resources ETF | 1,383,751,554 | 162,950,812 | 45,391,939 | 117,558,873 | ||||||||||||
SPDR S&P International Small Cap ETF | 943,769,214 | 161,816,271 | 93,351,919 | 68,464,352 | ||||||||||||
SPDR S&P North American Natural Resources ETF | 610,409,798 | 112,755,829 | 14,949,439 | 97,806,390 |
8. | Securities Lending |
Each Fund may lend securities to qualified broker-dealers or institutional investors. The loans are secured at all times by cash, cash equivalents or U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. The value of the collateral with respect to a loaned security may be temporarily more or less than the value of a security due to market fluctuations of securities values. With respect to each loan, if on any U.S. business day the aggregate market value of securities collateral plus cash collateral is less than the aggregate market value of the securities which are subject to the loan, the borrower will be notified to provide additional collateral on the next business day.
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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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (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 the lending agent. Additionally, a Fund will receive a fee from the borrower for non-cash collateral equal to a percentage of the market value of the loaned securities.
The market value of securities on loan as of March 31, 2018, and the value of the invested cash collateral are disclosed in the Funds’ Statements of Assets and Liabilities. Non-cash collateral is not disclosed in the Funds’ Statements of Assets and Liabilities as it is held by the lending agent on behalf of the Funds, and the Funds do not have the ability to re-hypothecate those securities. Securities lending income, as disclosed in the Funds’ Statements of Operations, represents the income earned from the non-cash collateral and the investment of cash collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent.
The following is a summary of each Fund’s securities lending agreements and related cash and non-cash collateral received as of March 31, 2018:
Fund | Market Value of Securities on Loan | Cash Collateral Received | Non Cash Collateral Received* | Total Collateral Received | ||||||||||||
SPDR Dow Jones Global Real Estate ETF | $ | 42,984,802 | $ | 25,171,435 | $ | 19,325,377 | $ | 44,496,812 | ||||||||
SPDR Dow Jones International Real Estate ETF | 170,226,643 | 166,351,563 | 11,320,596 | 177,672,159 | ||||||||||||
SPDR S&P China ETF | 80,905,230 | 18,667,846 | 69,825,776 | 88,493,622 | ||||||||||||
SPDR S&P Global Natural Resources ETF | 84,253,583 | 48,214,731 | 39,097,682 | 87,312,413 | ||||||||||||
SPDR S&P International Small Cap ETF | 124,248,733 | 95,964,387 | 35,333,821 | 131,298,208 | ||||||||||||
SPDR S&P North American Natural Resources ETF | 60,839,392 | 28,720,522 | 34,031,804 | 62,752,326 |
* | The non-cash collateral includes U.S. Treasuries and U.S. Government Agency securities. |
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged or securities loaned, and the remaining contractual maturity of those transactions as of March 31, 2018:
Remaining Contractual Maturity of the Agreements As of March 31, 2018 | ||||||||||||||||||||||||||
Fund | Securities Lending Transactions | Overnight and Continuous | <30 Days | Between 30 & 90 Days | >90 Days | Total Borrowings | Gross Amount of Recognized Liabilities for Securities Lending Transactions | |||||||||||||||||||
SPDR Dow Jones Global Real Estate ETF | Common Stocks | $ | 25,171,435 | $ | — | $ | — | $ | — | $ | 25,171,435 | $ | 25,171,435 | |||||||||||||
SPDR Dow Jones International Real Estate ETF | Common Stocks | 166,351,563 | — | — | — | 166,351,563 | 166,351,563 | |||||||||||||||||||
SPDR S&P China ETF | Common Stocks | 18,667,846 | — | — | — | 18,667,846 | 18,667,846 | |||||||||||||||||||
SPDR S&P Global Natural Resources ETF | Common Stocks | 48,214,731 | — | — | — | 48,214,731 | 48,214,731 | |||||||||||||||||||
SPDR S&P International Small Cap ETF | Common Stocks | 95,964,387 | — | — | — | 95,964,387 | 95,964,387 | |||||||||||||||||||
SPDR S&P North American Natural Resources ETF | Common Stocks | 28,720,522 | — | — | — | 28,720,522 | 28,720,522 |
9. | Line of Credit |
The Funds and other affiliated funds (each a “Participant” and, collectively, the “Participants”) participate in a $500 million revolving credit facility provided by a syndication of banks under which the Participants may borrow to fund shareholder redemptions. This agreement expires in October 2018 unless extended or renewed.
The Participants are charged an annual commitment fee which is calculated based on the unused portion of the shared credit line. Commitment fees are allocated among each of the Participants based on relative net assets. Commitment fees are ordinary fund operating expenses paid by the Adviser. A Participant incurs and pays the interest expense related to its borrowing. Interest is calculated at a rate per annum equal to the sum of 1% plus the greater of the New York Fed Bank Rate and 1-month LIBOR rate.
Prior to October 12, 2017, the Funds and other affiliated funds participated in a $360 million revolving credit facility.
The Funds had no outstanding loans as of March 31, 2018.
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NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
10. | Risks |
Concentration Risk
As a result of the Funds’ ability to invest a large percentage of their assets in obligations of issuers within the same country, state, region, currency or economic sector, an adverse economic, business or political development may affect the value of the Funds’ investments more than if the Funds were more broadly diversified.
Foreign and Emerging Markets Risk
Investing in foreign markets involves risks and considerations not typically associated with investing in the U.S. Foreign securities may be subject to risk of loss because of government regulation, economic, political and social instability in the countries in which the Funds invest. Foreign markets may be less liquid than investments in the U.S. and may be subject to the risks of currency fluctuations. To the extent that a Fund invests in securities of issuers located in emerging markets, these risks may be even more pronounced.
Market and Credit Risk
In the normal course of business, the Funds trade financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the general economic conditions and fluctuations of the market (market risk). Additionally, a Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which the Fund has unsettled or open transactions defaults.
11. | Subsequent Events |
Management has evaluated the impact of all subsequent events on the Funds through the date on which the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements.
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OTHER INFORMATION
March 31, 2018 (Unaudited)
Expense Example
As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads), if applicable, on purchase payments, reinvested dividends, or other distributions and (2) ongoing costs, including advisory fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. It is based on an investment of $1,000 made at the beginning of the period shown and held for the entire period from October 1, 2017 to March 31, 2018.
The table below illustrates your Fund’s cost in two ways:
Based on actual fund return — This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from each Fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the Fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for the Fund under the heading “Expenses Paid During Period”.
Based on hypothetical 5% return — This section is intended to help you compare your Fund’s costs with those of other mutual funds. It assumes that the Fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case, because the return used is not the Fund’s actual return, the results do not apply to your investment. The example is useful in making comparisons because the U.S. Securities and Exchange Commission (the “SEC”) requires all mutual funds to calculate expenses based on a 5% return. You can assess your Fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as sales load charges (loads). Therefore, the hypothetical 5% return section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.
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SPDR INDEX SHARES FUNDS
OTHER INFORMATION (continued)
March 31, 2018 (Unaudited)
SPDR Dow Jones Global Real Estate ETF | SPDR Dow Jones International Real Estate ETF | SPDR S&P China ETF | ||||||||||
Annualized Expense Ratio | 0.50 | % | 0.59 | % | 0.59 | % | ||||||
Actual: | ||||||||||||
Ending Account Value | $ | 985.00 | $ | 1,047.90 | $ | 1,090.90 | ||||||
Expenses Paid During Period(a) | 2.47 | 3.01 | 3.08 | |||||||||
Hypothetical (assuming a 5% return before expenses): | ||||||||||||
Ending Account Value | 1,022.40 | 1,022.00 | 1,022.00 | |||||||||
Expenses Paid During Period(a) | 2.52 | 2.97 | 2.97 | |||||||||
SPDR S&P Global Natural Resources ETF | SPDR S&P International Small Cap ETF | SPDR S&P North American Natural Resources ETF | ||||||||||
Annualized Expense Ratio | 0.40 | % | 0.40 | % | 0.35 | % | ||||||
Actual: | ||||||||||||
Ending Account Value | $ | 1,064.40 | $ | 1,058.80 | $ | 1,009.50 | ||||||
Expenses Paid During Period(a) | 2.06 | 2.05 | 1.75 | |||||||||
Hypothetical (assuming a 5% return before expenses): | ||||||||||||
Ending Account Value | 1,022.90 | 1,022.90 | 1,023.20 | |||||||||
Expenses Paid During Period(a) | 2.02 | 2.02 | 1.77 |
(a) | Expenses are equal to the Fund’s annualized net expense ratio multiplied by the average account value of the period, multiplied by 182, then divided by 365. |
Premium/Discount Information
Information regarding how often the Shares of each Fund traded on the exchange at a price above (i.e. at a premium) or below (i.e. at a discount) the NAV of the Fund during the past calendar year can be found at www.spdrs.com.
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SPDR INDEX SHARES FUNDS
OTHER INFORMATION (continued)
March 31, 2018 (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 SEC’s website, at www.sec.gov.
Information regarding how the investment adviser voted for the prior 12-months period ended June 30, is available by August 31 of each year by calling the same number 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 investments 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 1-866-787-2257 (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 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
SPDR S&P China ETF
SPDR S&P International Small Cap ETF
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SPDR® Index Shares Funds
SPDR Index Shares Funds
Trustees
Bonny E. Boatman
Dwight D. Churchill
David M. Kelly
Frank Nesvet, Chairman
James E. Ross
Carl G. Verboncoeur
Investment Manager and Administrator
SSGA Funds Management, Inc.
One Iron Street
Boston, MA 02210
Distributor
State Street Global Advisors Funds
Distributors, LLC
One Iron Street
Boston, MA 02210
Custodian, Sub-Administrator and Transfer Agent
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
Legal Counsel
Morgan, Lewis & Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, DC 20004
Independent Registered Public Accounting Firm
PricewaterhouseCoopers LLP
101 Seaport Boulevard
Suite 500
Boston, MA 02210
Fund Shares are distributed by State Street Global Advisors Funds Distributors, LLC, a wholly-owned subsidiary of State Street Corporation. State Street Global Advisors Funds Distributors, 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.
Table of Contents
SPDR® Index Shares Funds
For more complete information, please call 1.866.787.2257 or
visit spdrs.com today.
ssga.com | spdrs.com
The Funds are not sponsored, endorsed, sold, or promoted by Stoxx, S&P Dow Jones Indices LLC, MSCI Inc., and Russell Investment Group. Neither do these companies make any representation regarding the advisability of investing in the Funds. The Funds are distributed by State Street Global Advisors Funds Distributors, LLC, an indirect wholly-owned subsidiary of State Street Corporation. State Street Global Advisors Funds Distributors, LLC is a member of FINRA, SIPC. 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 adviser, administrator and securities lending agent.
Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain
purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly-owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.
Before investing, consider the Funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting www.spdrs.com. Please read the prospectus carefully before you invest.
State Street Global Advisors | © 2018 State Street Corporation - All Rights Reserved |
0515 Exp. Date: 11/30/2018 SPDRISRASAR
Table of Contents
Semi-Annual Report
March 31, 2018
SPDR® Index Shares Funds
SPDR EURO STOXX 50 ETF
SPDR MSCI ACWI ex-US ETF
SPDR S&P Emerging Markets Dividend ETF
SPDR S&P Emerging Markets Small Cap ETF
SPDR S&P International Dividend ETF
SPDR STOXX Europe 50 ETF
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting www.spdrs.com. Please read the prospectus carefully before you invest.
Table of Contents
Table of Contents
TABLE OF CONTENTS (UNAUDITED)
Portfolio Statistics (Unaudited) | ||||
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3 | ||||
4 | ||||
5 | ||||
6 | ||||
Schedules of Investments (Unaudited) | ||||
7 | ||||
11 | ||||
19 | ||||
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32 | ||||
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43 | ||||
55 | ||||
61 | ||||
74 |
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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[This Page Intentionally Left Blank]
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PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||||
TOTAL SA | 5.1 | % | ||||||
SAP SE | 4.0 | |||||||
Siemens AG | 3.8 | |||||||
Banco Santander SA | 3.7 | |||||||
Allianz SE | 3.5 | |||||||
Bayer AG | 3.3 | |||||||
BASF SE | 3.3 | |||||||
Sanofi | 3.2 | |||||||
Unilever NV | 3.1 | |||||||
BNP Paribas SA | 3.0 | |||||||
TOTAL | 36.0 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||||
Financials | 21.9 | % | ||||||
Industrials | 13.7 | |||||||
Consumer Discretionary | 12.1 | |||||||
Consumer Staples | 10.7 | |||||||
Health Care | 9.9 | |||||||
Information Technology | 8.1 | |||||||
Energy | 6.6 | |||||||
Materials | 6.1 | |||||||
Utilities | 5.2 | |||||||
Telecommunication Services | 4.7 | |||||||
Real Estate | 0.8 | |||||||
Short-Term Investments | 1.6 | |||||||
Liabilities in Excess of Other Assets | (1.4 | ) | ||||||
TOTAL | 100.0 | % |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
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PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||||
Tencent Holdings, Ltd. | 1.4 | % | ||||||
Nestle SA | 1.2 | |||||||
Samsung Electronics Co., Ltd. GDR | 1.1 | |||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 1.0 | |||||||
Novartis AG | 0.9 | |||||||
HSBC Holdings PLC | 0.9 | |||||||
Alibaba Group Holding, Ltd. ADR | 0.9 | |||||||
Toyota Motor Corp. | 0.8 | |||||||
Roche Holding AG | 0.8 | |||||||
Royal Dutch Shell PLC Class A | 0.7 | |||||||
TOTAL | 9.7 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||||
Financials | 23.2 | % | ||||||
Industrials | 12.3 | |||||||
Consumer Discretionary | 11.2 | |||||||
Information Technology | 11.1 | |||||||
Consumer Staples | 9.2 | |||||||
Health Care | 7.8 | |||||||
Materials | 7.6 | |||||||
Energy | 6.7 | |||||||
Telecommunication Services | 4.3 | |||||||
Utilities | 3.0 | |||||||
Real Estate | 2.6 | |||||||
Short-Term Investments | 2.3 | |||||||
Liabilities in Excess of Other Assets | (1.3 | ) | ||||||
TOTAL | 100.0 | % |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
2
Table of Contents
SPDR S&P EMERGING MARKETS DIVIDEND ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||||
PTT PCL NVDR | 4.0 | % | ||||||
Tenaga Nasional Bhd | 3.0 | |||||||
PTT Global Chemical PCL NVDR | 2.9 | |||||||
Public Bank Bhd | 2.6 | |||||||
China Resources Land, Ltd. | 2.6 | |||||||
China Overseas Land & Investment, Ltd. | 2.4 | |||||||
LUKOIL PJSC | 2.3 | |||||||
United Microelectronics Corp. | 2.3 | |||||||
Siam Cement PCL NVDR | 2.3 | |||||||
Barclays Africa Group, Ltd. | 2.3 | |||||||
TOTAL | 26.7 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||||
Financials | 25.3 | % | ||||||
Information Technology | 14.1 | |||||||
Energy | 10.6 | |||||||
Consumer Discretionary | 8.1 | |||||||
Telecommunication Services | 7.8 | |||||||
Materials | 7.7 | |||||||
Real Estate | 7.2 | |||||||
Consumer Staples | 6.7 | |||||||
Utilities | 6.1 | |||||||
Industrials | 3.2 | |||||||
Health Care | 2.7 | |||||||
Short-Term Investments | 8.1 | |||||||
Liabilities in Excess of Other Assets | (7.6 | ) | ||||||
TOTAL | 100.0 | % |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
3
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||||
Future Land Holdings Co., Ltd. | 0.5 | % | ||||||
WNS Holdings, Ltd. ADR | 0.4 | |||||||
Li Ning Co., Ltd. | 0.4 | |||||||
Top Glove Corp. Bhd | 0.4 | |||||||
Moneta Money Bank A/S | 0.4 | |||||||
My EG Services Bhd | 0.4 | |||||||
Indah Kiat Pulp & Paper Corp. Tbk PT | 0.4 | |||||||
Mindtree, Ltd. | 0.4 | |||||||
Chroma ATE, Inc. | 0.4 | |||||||
CVC Brasil Operadora e Agencia de Viagens SA | 0.4 | |||||||
TOTAL | 4.1 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||||
Information Technology | 21.8 | % | ||||||
Consumer Discretionary | 16.2 | |||||||
Industrials | 13.7 | |||||||
Materials | 10.9 | |||||||
Real Estate | 9.5 | |||||||
Financials | 8.3 | |||||||
Health Care | 6.2 | |||||||
Consumer Staples | 6.1 | |||||||
Utilities | 2.9 | |||||||
Energy | 2.7 | |||||||
Telecommunication Services | 1.4 | |||||||
Short-Term Investments | 3.7 | |||||||
Liabilities in Excess of Other Assets | (3.4 | ) | ||||||
TOTAL | 100.0 | % |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
4
Table of Contents
SPDR S&P INTERNATIONAL DIVIDEND ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||||
SSE PLC | 2.5 | % | ||||||
EDP - Energias de Portugal SA | 2.4 | |||||||
Gazprom PJSC ADR | 2.1 | |||||||
Enagas SA | 2.0 | |||||||
Swiss Re AG | 2.0 | |||||||
Westpac Banking Corp. | 1.9 | |||||||
National Grid PLC | 1.8 | |||||||
Skanska AB | 1.8 | |||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 1.7 | |||||||
Commonwealth Bank of Australia | 1.6 | |||||||
TOTAL | 19.8 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||||
Financials | 22.0 | % | ||||||
Utilities | 21.6 | |||||||
Real Estate | 14.1 | |||||||
Industrials | 12.2 | |||||||
Telecommunication Services | 8.6 | |||||||
Consumer Staples | 8.1 | |||||||
Consumer Discretionary | 5.6 | |||||||
Energy | 4.2 | |||||||
Health Care | 1.8 | |||||||
Information Technology | 0.7 | |||||||
Materials | 0.6 | |||||||
Short-Term Investments | 2.9 | |||||||
Liabilities in Excess of Other Assets | (2.4 | ) | ||||||
TOTAL | 100.0 | % |
(The Fund’s sector breakdown is expressed as a percentage of net assets andmay change over time.)
See accompanying notes to financial statements.
5
Table of Contents
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||||
Nestle SA | 5.7 | % | ||||||
Novartis AG | 4.6 | |||||||
HSBC Holdings PLC | 4.4 | |||||||
Roche Holding AG | 3.7 | |||||||
Royal Dutch Shell PLC Class A | 3.4 | |||||||
TOTAL SA | 3.3 | |||||||
BP PLC | 3.1 | |||||||
British American Tobacco PLC | 3.1 | |||||||
SAP SE | 2.6 | |||||||
Siemens AG | 2.5 | |||||||
TOTAL | 36.4 | % |
(The ten largest holding s are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||||
Financials | 23.1 | % | ||||||
Consumer Staples | 19.6 | |||||||
Health Care | 18.9 | |||||||
Energy | 10.8 | |||||||
Industrials | 7.5 | |||||||
Materials | 6.1 | |||||||
Information Technology | 4.6 | |||||||
Telecommunication Services | 3.9 | |||||||
Consumer Discretionary | 3.9 | |||||||
Utilities | 0.9 | |||||||
Short-Term Investments | 0.1 | |||||||
Other Assets in Excess of Liabilities | 0.6 | |||||||
TOTAL | 100.0 | % |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
6
Table of Contents
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.8% | ||||||||
BELGIUM — 2.9% | ||||||||
Anheuser-Busch InBev SA | 1,138,993 | $ | 125,062,624 | |||||
|
| |||||||
FINLAND — 1.1% | ||||||||
Nokia Oyj | 8,647,511 | 47,698,626 | ||||||
|
| |||||||
FRANCE — 36.8% | ||||||||
Air Liquide SA | 657,922 | 80,493,810 | ||||||
Airbus SE | 875,498 | 100,997,424 | ||||||
AXA SA | 3,198,312 | 84,962,421 | ||||||
BNP Paribas SA | 1,769,513 | 130,944,140 | ||||||
Cie de Saint-Gobain | 850,129 | 44,811,481 | ||||||
Danone SA | 977,524 | 79,021,153 | ||||||
Engie SA | 2,838,691 | 47,322,747 | ||||||
Essilor International Cie Generale d’Optique SA | 336,531 | 45,361,555 | ||||||
L’Oreal SA | 375,503 | 84,673,327 | ||||||
LVMH Moet Hennessy Louis Vuitton SE (a) | 414,685 | 127,602,132 | ||||||
Orange SA | 3,147,668 | 53,363,953 | ||||||
Safran SA | 550,797 | 58,242,674 | ||||||
Sanofi | 1,756,951 | 141,164,212 | ||||||
Schneider Electric SE | 858,598 | 75,331,268 | ||||||
Societe Generale SA | 1,240,782 | 67,387,113 | ||||||
TOTAL SA (a) | 3,894,889 | 220,968,740 | ||||||
Unibail-Rodamco SE REIT (a) (b) | 147,961 | 33,782,712 | ||||||
Unibail-Rodamco SE REIT (b) | 5,396 | 1,232,024 | ||||||
Vinci SA | 853,471 | 83,866,370 | ||||||
Vivendi SA | 1,581,622 | 40,848,329 | ||||||
|
| |||||||
1,602,377,585 | ||||||||
|
| |||||||
GERMANY — 32.4% | ||||||||
adidas AG | 280,079 | 67,737,131 | ||||||
Allianz SE | 676,090 | 152,495,189 | ||||||
BASF SE | 1,410,572 | 143,068,345 | ||||||
Bayer AG | 1,270,000 | 143,367,724 | ||||||
Bayerische Motoren Werke AG | 493,697 | 53,522,342 | ||||||
Daimler AG | 1,530,643 | 129,833,402 | ||||||
Deutsche Bank AG | 2,891,708 | 40,279,428 | ||||||
Deutsche Post AG | 1,498,033 | 65,440,504 | ||||||
Deutsche Telekom AG | 4,980,550 | 81,160,644 | ||||||
E.ON SE | 3,380,380 | 37,499,404 | ||||||
Fresenius SE & Co. KGaA | 629,804 | 48,069,487 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 238,083 | 55,296,504 | ||||||
SAP SE | 1,662,646 | 173,747,158 | ||||||
Siemens AG | 1,305,402 | 166,196,103 |
See accompanying notes to financial statements.
7
Table of Contents
SPDR EURO STOXX 50 ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Volkswagen AG Preference Shares | 281,146 | $ | 55,799,964 | |||||
|
| |||||||
1,413,513,329 | ||||||||
|
| |||||||
IRELAND — 1.0% | ||||||||
CRH PLC | 1,288,465 | 43,687,952 | ||||||
|
| |||||||
ITALY — 5.1% | ||||||||
Enel SpA | 11,930,406 | 72,922,897 | ||||||
Eni SpA | 3,901,311 | 68,554,239 | ||||||
Intesa Sanpaolo SpA | 22,347,532 | 81,174,354 | ||||||
|
| |||||||
222,651,490 | ||||||||
|
| |||||||
LUXEMBOURG — 0.0% (c) | ||||||||
APERAM SA | 1 | 48 | ||||||
|
| |||||||
NETHERLANDS — 7.5% | ||||||||
ASML Holding NV | 662,874 | 130,560,026 | ||||||
ING Groep NV | 5,967,683 | 100,549,199 | ||||||
Koninklijke Ahold Delhaize NV | 1,818,310 | 43,029,910 | ||||||
Koninklijke Philips NV | 1,445,027 | 55,385,412 | ||||||
|
| |||||||
329,524,547 | ||||||||
|
| |||||||
SPAIN — 9.9% | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 10,240,342 | 80,967,399 | ||||||
Banco Santander SA | 24,781,415 | 161,378,013 | ||||||
Iberdrola SA | 9,047,035 | 66,447,458 | ||||||
Industria de Diseno Textil SA | 1,706,855 | 53,382,055 | ||||||
Telefonica SA | 7,058,508 | 69,690,339 | ||||||
|
| |||||||
431,865,264 | ||||||||
|
| |||||||
UNITED KINGDOM — 3.1% | ||||||||
Unilever NV | 2,400,043 | 135,394,201 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 4,351,775,666 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 1.6% | ||||||||
State Street Institutional U.S. Government Money Market Fund, | 92,725 | 92,725 |
See accompanying notes to financial statements.
8
Table of Contents
SPDR EURO STOXX 50 ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (d) (f) | 69,782,046 | $ | 69,782,046 | |||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 69,874,771 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 101.4% | 4,421,650,437 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.4)% | (63,188,830 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 4,358,461,607 | ||||||
|
|
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(c) | Amount is less than 0.05% of net assets. |
(d) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(e) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(f) | Investment of cash collateral for securities loaned. |
REIT =Real Estate Investment Trust
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 — Quoted Prices | Level 2 — Other Significant Observable Inputs | Level 3 — Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Belgium | $ | 125,062,624 | $ | — | $ | — | $ | 125,062,624 | ||||||||||||
Finland | 47,698,626 | — | — | 47,698,626 | ||||||||||||||||
France | 1,602,377,585 | — | — | 1,602,377,585 | ||||||||||||||||
Germany | 1,413,513,329 | — | — | 1,413,513,329 | ||||||||||||||||
Ireland | 43,687,952 | — | — | 43,687,952 | ||||||||||||||||
Italy | 222,651,490 | — | — | 222,651,490 | ||||||||||||||||
Luxembourg | 48 | — | — | 48 | ||||||||||||||||
Netherlands | 329,524,547 | — | — | 329,524,547 | ||||||||||||||||
Spain | 431,865,264 | — | — | 431,865,264 | ||||||||||||||||
United Kingdom | 135,394,201 | — | — | 135,394,201 | ||||||||||||||||
Short-Term Investments | 69,874,771 | — | — | 69,874,771 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 4,421,650,437 | $ | — | $ | — | $ | 4,421,650,437 | ||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
9
Table of Contents
SPDR EURO STOXX 50 ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 164,128 | $ | 164,128 | $ | 25,152,924 | $ | 25,224,327 | $ | — | $ | — | 92,725 | $ | 92,725 | $ | 7,045 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 2,656,640 | 2,656,640 | 664,697,199 | 597,571,793 | — | — | 69,782,046 | 69,782,046 | 747,194 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 2,820,768 | $ | 689,850,123 | $ | 622,796,120 | $ | — | $ | — | $ | 69,874,771 | $ | 754,239 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
10
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS - 99.0% | ||||||||
AUSTRALIA – 4.6% | ||||||||
Australia & New Zealand Banking Group, Ltd. | 241,837 | $ | 4,982,559 | |||||
BHP Billiton, Ltd. | 237,595 | 5,141,195 | ||||||
Commonwealth Bank of Australia | 139,974 | 7,763,712 | ||||||
Westpac Banking Corp. | 265,281 | 5,823,706 | ||||||
Other Securities | 5,713,836 | 47,196,517 | ||||||
|
| |||||||
70,907,689 | ||||||||
|
| |||||||
AUSTRIA – 0.3% | ||||||||
Other Securities | 98,660 | 4,820,045 | ||||||
|
| |||||||
BELGIUM – 0.9% | ||||||||
Anheuser-Busch InBev SA | 62,826 | 6,898,360 | ||||||
Other Securities | 93,326 | 7,341,178 | ||||||
|
| |||||||
14,239,538 | ||||||||
|
| |||||||
BRAZIL – 1.9% | ||||||||
Other Securities | 3,310,595 | 29,550,197 | ||||||
|
| |||||||
CANADA – 6.1% | ||||||||
Bank of Nova Scotia | 86,760 | 5,340,526 | ||||||
Royal Bank of Canada | 109,585 | 8,459,103 | ||||||
Toronto-Dominion Bank | 138,395 | 7,848,019 | ||||||
Other Securities | 2,429,657 | 73,211,109 | ||||||
|
| |||||||
94,858,757 | ||||||||
|
| |||||||
CHILE – 0.3% | ||||||||
Other Securities | 429,896 | 5,073,113 | ||||||
|
| |||||||
CHINA – 7.4% | ||||||||
Alibaba Group Holding, Ltd. ADR (a) (b) | 74,861 | 13,739,988 | ||||||
China Construction Bank Corp. Class H | 5,177,720 | 5,317,384 | ||||||
China Huishan Dairy Holdings Co., Ltd. (a) (b) (c) | 1,418,000 | — | ||||||
Tencent Holdings, Ltd | 422,000 | 22,024,031 | ||||||
Other Securities | 45,160,549 | 73,903,647 | ||||||
|
| |||||||
114,985,050 | ||||||||
|
| |||||||
COLOMBIA – 0.1% | ||||||||
Other Securities | 138,217 | 1,467,836 | ||||||
|
| |||||||
DENMARK – 1.2% | ||||||||
Novo Nordisk A/S Class B | 153,188 | 7,519,251 | ||||||
Other Securities | 160,837 | 11,361,256 | ||||||
|
| |||||||
18,880,507 | ||||||||
|
| |||||||
EGYPT – 0.1% | ||||||||
Other Securities | 898,429 | 1,025,331 | ||||||
|
|
See accompanying notes to financial statements.
11
Table of Contents
SPDR MSCI ACWI EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
FINLAND – 0.8% | ||||||||
Other Securities | 607,996 | $ | 11,648,801 | |||||
|
| |||||||
FRANCE – 7.1% | ||||||||
Airbus SE | 47,480 | 5,477,291 | ||||||
BNP Paribas SA | 78,031 | 5,774,302 | ||||||
L’Oreal SA | 23,057 | 5,199,194 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 21,207 | 6,525,576 | ||||||
Sanofi | 92,478 | 7,430,249 | ||||||
TOTAL SA (b) | 180,943 | 10,265,439 | ||||||
Other Securities | 1,324,182 | 68,555,125 | ||||||
|
| |||||||
109,227,176 | ||||||||
|
| |||||||
GERMANY – 6.4% | ||||||||
Allianz SE | 40,416 | 9,116,014 | ||||||
BASF SE | 72,220 | 7,324,969 | ||||||
Bayer AG | 66,057 | 7,457,041 | ||||||
Daimler AG | 73,159 | 6,205,550 | ||||||
SAP SE | 85,152 | 8,898,417 | ||||||
Siemens AG | 67,586 | 8,604,652 | ||||||
Other Securities | 1,192,234 | 51,952,165 | ||||||
|
| |||||||
99,558,808 | ||||||||
|
| |||||||
GREECE – 0.1% | ||||||||
Other Securities | 780,984 | 1,543,075 | ||||||
|
| |||||||
HONG KONG – 2.8% | ||||||||
AIA Group, Ltd. | 961,400 | 8,133,858 | ||||||
Hanergy Thin Film Power Group, Ltd. (a)(c) | 448,000 | — | ||||||
Other Securities | 8,935,402 | 35,236,022 | ||||||
|
| |||||||
43,369,880 | ||||||||
|
| |||||||
HUNGARY – 0.1% | ||||||||
Other Securities | 124,205 | 2,197,237 | ||||||
|
| |||||||
INDIA – 1.9% | ||||||||
Other Securities | 2,795,943 | 29,614,364 | ||||||
|
| |||||||
INDONESIA – 0.5% | ||||||||
Other Securities | 20,868,300 | 8,154,204 | ||||||
|
| |||||||
IRELAND – 0.5% | ||||||||
Other Securities | 273,844 | 6,917,219 | ||||||
|
| |||||||
ISRAEL – 0.4% | ||||||||
Other Securities | 550,679 | 5,342,873 | ||||||
|
| |||||||
ITALY – 1.4% | ||||||||
Other Securities | 3,611,606 | 21,840,437 | ||||||
|
|
See accompanying notes to financial statements.
12
Table of Contents
SPDR MSCI ACWI EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
JAPAN – 16.5% | ||||||||
Honda Motor Co., Ltd. | 140,500 | $ | 4,810,160 | |||||
Mitsubishi UFJ Financial Group, Inc. | 836,200 | 5,474,810 | ||||||
SoftBank Group Corp. | 79,400 | 5,827,893 | ||||||
Toyota Motor Corp. | 201,100 | 12,937,717 | ||||||
Other Securities | 11,835,628 | 226,576,096 | ||||||
|
| |||||||
255,626,676 | ||||||||
|
| |||||||
LUXEMBOURG – 0.1% | ||||||||
Other Securities | 65,377 | 1,595,273 | ||||||
|
| |||||||
MACAU – 0.0% (d) | ||||||||
Other Securities | 127,600 | 397,352 | ||||||
|
| |||||||
MALAYSIA – 0.5% | ||||||||
Other Securities | 5,983,929 | 7,530,619 | ||||||
|
| |||||||
MEXICO – 0.8% | ||||||||
Other Securities | 6,662,702 | 12,623,589 | ||||||
|
| |||||||
NETHERLANDS – 3.2% | ||||||||
ASML Holding NV | 31,568 | 6,217,651 | ||||||
Royal Dutch Shell PLC Class A | 347,301 | 10,881,474 | ||||||
Royal Dutch Shell PLC Class B | 278,858 | 8,907,214 | ||||||
Other Securities | 1,121,082 | 23,866,165 | ||||||
|
| |||||||
49,872,504 | ||||||||
|
| |||||||
NEW ZEALAND – 0.1% | ||||||||
Other Securities | 647,250 | 1,456,619 | ||||||
|
| |||||||
NORWAY – 0.5% | ||||||||
Other Securities | 476,916 | 7,922,160 | ||||||
|
| |||||||
PERU – 0.1% | ||||||||
Other Securities | 27,279 | 2,018,437 | ||||||
|
| |||||||
PHILIPPINES – 0.3% | ||||||||
Other Securities | 9,388,564 | 3,851,015 | ||||||
|
| |||||||
POLAND – 0.2% | ||||||||
Other Securities | 361,925 | 3,628,841 | ||||||
|
| |||||||
PORTUGAL – 0.1% | ||||||||
Other Securities | 192,109 | 1,040,904 | ||||||
|
| |||||||
QATAR – 0.0% (d) | ||||||||
Other Securities | 51,890 | 534,255 | ||||||
|
| |||||||
ROMANIA – 0.0% (d) | ||||||||
Other Security | 7,505 | 72,841 | ||||||
|
| |||||||
RUSSIA – 0.9% | ||||||||
Other Securities | 1,145,211 | 13,665,748 | ||||||
|
|
See accompanying notes to financial statements.
13
Table of Contents
SPDR MSCI ACWI EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SINGAPORE – 1.0% | ||||||||
Other Securities | 2,806,287 | $ | 15,880,457 | |||||
|
| |||||||
SOUTH AFRICA – 1.7% | ||||||||
Naspers, Ltd. Class N | 34,446 | 8,406,990 | ||||||
Other Securities | 1,921,025 | 17,400,742 | ||||||
|
| |||||||
25,807,732 | ||||||||
|
| |||||||
SOUTH KOREA – 3.9% | ||||||||
Samsung Electronics Co., Ltd. GDR | 15,036 | 17,231,256 | ||||||
Other Securities | 530,671 | 42,496,151 | ||||||
|
| |||||||
59,727,407 | ||||||||
|
| |||||||
SPAIN – 2.1% | ||||||||
Banco Santander SA | 1,147,808 | 7,474,592 | ||||||
Other Securities | 2,322,272 | 25,646,908 | ||||||
|
| |||||||
33,121,500 | ||||||||
|
| |||||||
SWEDEN – 1.8% | ||||||||
Other Securities | 1,987,957 | 27,539,012 | ||||||
|
| |||||||
SWITZERLAND – 5.8% | ||||||||
Nestle SA | 236,318 | 18,661,620 | ||||||
Novartis AG | 178,453 | 14,397,743 | ||||||
Roche Holding AG | 52,068 | 11,913,219 | ||||||
UBS Group AG (a) | 275,054 | 4,824,073 | ||||||
Other Securities | 1,406,632 | 40,599,428 | ||||||
|
| |||||||
90,396,083 | ||||||||
|
| |||||||
TAIWAN – 2.7% | ||||||||
Hon Hai Precision Industry Co., Ltd. GDR | 878,934 | 5,466,969 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 364,799 | 15,963,604 | ||||||
Other Securities | 11,213,701 | 21,008,207 | ||||||
|
| |||||||
42,438,780 | ||||||||
|
| |||||||
THAILAND – 0.6% | ||||||||
Other Securities | 8,094,238 | 8,443,509 | ||||||
|
| |||||||
TURKEY – 0.3% | ||||||||
Other Securities | 2,352,453 | 3,841,886 | ||||||
|
| |||||||
UNITED ARAB EMIRATES – 0.1% | ||||||||
Other Securities | 715,190 | 810,908 | ||||||
|
| |||||||
UNITED KINGDOM – 10.8% | ||||||||
AstraZeneca PLC | 89,976 | 6,179,018 | ||||||
BP PLC | 1,463,468 | 9,838,777 | ||||||
British American Tobacco PLC | 165,699 | 9,602,202 | ||||||
Diageo PLC | 178,770 | 6,048,779 |
See accompanying notes to financial statements.
14
Table of Contents
SPDR MSCI ACWI EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
GlaxoSmithKline PLC | 346,713 | $ | 6,779,984 | |||||
HSBC Holdings PLC | 1,490,816 | 13,915,621 | ||||||
Unilever NV | 127,844 | 7,212,094 | ||||||
Unilever PLC | 104,329 | 5,788,982 | ||||||
Vodafone Group PLC | 2,142,081 | 5,836,139 | ||||||
Other Securities | 13,856,853 | 95,946,660 | ||||||
|
| |||||||
167,148,256 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 1,532,214,500 | |||||||
|
| |||||||
RIGHTS - 0.0% (d) | ||||||||
SOUTH KOREA – 0.0% (d) | ||||||||
Other Security | 11,428 | 22,247 | ||||||
|
| |||||||
SHORT-TERM INVESTMENTS - 2.3% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (e) (f) | 2,338,108 | 2,338,108 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (e) (g) | 32,639,102 | 32,639,102 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 34,977,210 | |||||||
|
| |||||||
TOTAL INVESTMENTS - 101.3% | 1,567,213,957 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (1.3)% | (19,654,945 | ) | ||||||
|
| |||||||
NET ASSETS - 100.0% | $ | 1,547,559,012 | ||||||
|
|
See accompanying notes to financial statements.
15
Table of Contents
SPDR MSCI ACWI EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available on the Fund’s website at www.spdrs.com, without charge, upon request by calling 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $0, representing 0.0% of the Fund’s net assets. |
(d) | Amount is less than 0.05% of net assets. |
(e) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(f) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(g) | Investment of cash collateral for securities loaned. |
ADR American Depositary Receipt
GDR Global Depositary Receipt
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 — Quoted Prices | Level 2 — Other Significant Observable Inputs | Level 3 — Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | $ | 70,907,689 | $ | — | $ | — | $ | 70,907,689 | ||||||||||||
Austria | 4,820,045 | — | — | 4,820,045 | ||||||||||||||||
Belgium | 14,239,538 | — | — | 14,239,538 | ||||||||||||||||
Brazil | 29,550,197 | — | — | 29,550,197 | ||||||||||||||||
Canada | 94,858,757 | — | — | 94,858,757 | ||||||||||||||||
Chile | 5,073,113 | — | — | 5,073,113 | ||||||||||||||||
China | 114,985,050 | — | 0 | (a) | 114,985,050 | |||||||||||||||
Colombia | 1,467,836 | — | — | 1,467,836 | ||||||||||||||||
Denmark | 18,880,507 | — | — | 18,880,507 | ||||||||||||||||
Egypt | 1,025,331 | — | — | 1,025,331 | ||||||||||||||||
Finland | 11,648,801 | — | — | 11,648,801 | ||||||||||||||||
France | 109,227,176 | — | — | 109,227,176 | ||||||||||||||||
Germany | 99,558,808 | — | — | 99,558,808 |
See accompanying notes to financial statements.
16
Table of Contents
SPDR MSCI ACWI EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 — Quoted Prices | Level 2 — Other Significant Observable Inputs | Level 3 — Significant Unobservable Inputs | Total | ||||||||||||||||
Greece | $ | 1,543,075 | $ | — | $ | — | $ | 1,543,075 | ||||||||||||
Hong Kong | 43,369,880 | — | 0 | (a) | 43,369,880 | |||||||||||||||
Hungary | 2,197,237 | — | — | 2,197,237 | ||||||||||||||||
India | 29,614,364 | — | — | 29,614,364 | ||||||||||||||||
Indonesia | 8,154,204 | — | — | 8,154,204 | ||||||||||||||||
Ireland | 6,917,219 | — | — | 6,917,219 | ||||||||||||||||
Israel | 5,342,873 | — | — | 5,342,873 | ||||||||||||||||
Italy | 21,840,437 | — | — | 21,840,437 | ||||||||||||||||
Japan | 255,626,676 | — | — | 255,626,676 | ||||||||||||||||
Luxembourg | 1,595,273 | — | — | 1,595,273 | ||||||||||||||||
Macau | 397,352 | — | — | 397,352 | ||||||||||||||||
Malaysia | 7,530,619 | — | — | 7,530,619 | ||||||||||||||||
Mexico | 12,623,589 | — | — | 12,623,589 | ||||||||||||||||
Netherlands | 49,872,504 | — | — | 49,872,504 | ||||||||||||||||
New Zealand | 1,456,619 | — | — | 1,456,619 | ||||||||||||||||
Norway | 7,922,160 | — | — | 7,922,160 | ||||||||||||||||
Peru | 2,018,437 | — | — | 2,018,437 | ||||||||||||||||
Philippines | 3,851,015 | — | — | 3,851,015 | ||||||||||||||||
Poland | 3,628,841 | — | — | 3,628,841 | ||||||||||||||||
Portugal | 1,040,904 | — | — | 1,040,904 | ||||||||||||||||
Qatar | 534,255 | — | — | 534,255 | ||||||||||||||||
Romania | 72,841 | — | — | 72,841 | ||||||||||||||||
Russia | 13,665,748 | — | — | 13,665,748 | ||||||||||||||||
Singapore | 15,880,457 | — | — | 15,880,457 | ||||||||||||||||
South Africa | 25,807,732 | — | — | 25,807,732 | ||||||||||||||||
South Korea | 59,727,407 | — | — | 59,727,407 | ||||||||||||||||
Spain | 33,121,500 | — | — | 33,121,500 | ||||||||||||||||
Sweden | 27,539,012 | — | — | 27,539,012 | ||||||||||||||||
Switzerland | 90,396,083 | — | — | 90,396,083 | ||||||||||||||||
Taiwan | 42,438,780 | — | — | 42,438,780 | ||||||||||||||||
Thailand | 1,546,619 | 6,896,890 | — | 8,443,509 | ||||||||||||||||
Turkey | 3,841,886 | — | — | 3,841,886 | ||||||||||||||||
United Arab Emirates | 810,908 | — | — | 810,908 | ||||||||||||||||
United Kingdom | 167,148,256 | — | — | 167,148,256 | ||||||||||||||||
Rights | ||||||||||||||||||||
South Korea | 22,247 | — | — | 22,247 | ||||||||||||||||
Short-Term Investments | 34,977,210 | — | — | 34,977,210 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 1,560,317,067 | $ | 6,896,890 | $ | — | $ | 1,567,213,957 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
See accompanying notes to financial statements.
17
Table of Contents
SPDR MSCI ACWI EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds From Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 1,559,265 | $ | 1,559,265 | $ | 27,790,407 | $ | 27,011,564 | $ | — | $ | — | 2,338,108 | $ | 2,338,108 | $ | 13,344 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 19,433,641 | 19,433,641 | 197,035,868 | 183,830,407 | — | — | 32,639,102 | 32,639,102 | 149,706 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 20,992,906 | $ | 224,826,275 | $ | 210,841,971 | $ | — | $ | — | $ | 34,977,210 | $ | 163,050 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
18
Table of Contents
SPDR S&P EMERGING MARKETS DIVIDEND ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.5% | ||||||||
CHILE — 0.8% | ||||||||
Banco de Chile ADR (a) | 364 | $ | 36,611 | |||||
Banco de Credito e Inversiones SA | 33,274 | 2,469,729 | ||||||
Embotelladora Andina SA Class B, Preference Shares | 231,393 | 1,136,176 | ||||||
|
| |||||||
3,642,516 | ||||||||
|
| |||||||
CHINA — 11.7% | ||||||||
China Merchants Port Holdings Co., Ltd. | 2,901,812 | 6,396,461 | ||||||
China Overseas Land & Investment, Ltd. | 3,350,000 | 11,631,500 | ||||||
China Resources Land, Ltd. | 3,446,000 | 12,535,619 | ||||||
China Telecom Corp., Ltd. Class H | 24,632,000 | 10,859,259 | ||||||
China Zhongwang Holdings, Ltd. (a) | 3,266,400 | 1,939,455 | ||||||
Far East Horizon, Ltd. | 1,362,000 | 1,440,388 | ||||||
Guangdong Investment, Ltd. | 3,628,000 | 5,704,359 | ||||||
Jiangsu Expressway Co., Ltd. Class H | 1,902,000 | 2,690,035 | ||||||
Shenzhen International Holdings, Ltd. | 1,795,719 | 3,930,845 | ||||||
|
| |||||||
57,127,921 | ||||||||
|
| |||||||
COLOMBIA — 1.1% | ||||||||
Bancolombia SA Preference Shares | 417,600 | 4,377,691 | ||||||
Grupo Aval Acciones y Valores SA Preference Shares | 2,126,183 | 886,829 | ||||||
|
| |||||||
5,264,520 | ||||||||
|
| |||||||
HONG KONG — 2.2% | ||||||||
Lee & Man Paper Manufacturing, Ltd. | 6,579,000 | 6,949,264 | ||||||
Skyworth Digital Holdings, Ltd. | 8,180,000 | 3,679,192 | ||||||
|
| |||||||
10,628,456 | ||||||||
|
| |||||||
INDIA — 0.4% | ||||||||
Infosys, Ltd. | 124,042 | 2,152,516 | ||||||
|
| |||||||
INDONESIA — 3.7% | ||||||||
Bank Rakyat Indonesia Persero Tbk PT | 38,798,300 | 10,145,189 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 30,259,000 | 7,912,286 | ||||||
|
| |||||||
18,057,475 | ||||||||
|
| |||||||
MALAYSIA — 7.1% | ||||||||
Astro Malaysia Holdings Bhd | 1,300,200 | 685,731 | ||||||
Bursa Malaysia Bhd | 463,800 | 1,314,180 | ||||||
Inari Amertron Bhd | 3,764,100 | 2,724,788 | ||||||
IOI Properties Group Bhd | 1,334,100 | 555,300 | ||||||
Petronas Gas Bhd | 358,300 | 1,650,700 | ||||||
Public Bank Bhd | 2,066,400 | 12,821,510 | ||||||
Tenaga Nasional Bhd | 3,519,900 | 14,705,683 |
See accompanying notes to financial statements.
19
Table of Contents
SPDR S&P EMERGING MARKETS DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Westports Holdings Bhd | 321,800 | $ | 293,680 | |||||
|
| |||||||
34,751,572 | ||||||||
|
| |||||||
MEXICO — 0.4% | ||||||||
Bolsa Mexicana de Valores SAB de CV | 466,949 | 888,696 | ||||||
Macquarie Mexico Real Estate Management SA de CV REIT (b) | 954,902 | 1,068,239 | ||||||
|
| |||||||
1,956,935 | ||||||||
|
| |||||||
PHILIPPINES — 0.2% | ||||||||
DMCI Holdings, Inc. | 1,085,700 | 253,023 | ||||||
Semirara Mining & Power Corp. | 964,530 | 560,112 | ||||||
|
| |||||||
813,135 | ||||||||
|
| |||||||
POLAND — 0.7% | ||||||||
Asseco Poland SA | 65,500 | 860,509 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo SA | 1,610,818 | 2,657,029 | ||||||
|
| |||||||
3,517,538 | ||||||||
|
| |||||||
QATAR — 0.5% | ||||||||
Qatar Electricity & Water Co. QSC | 26,839 | 1,385,429 | ||||||
Qatar International Islamic Bank QSC | 51,068 | 701,238 | ||||||
Qatar Islamic Bank SAQ | 6,616 | 177,117 | ||||||
|
| |||||||
2,263,784 | ||||||||
|
| |||||||
RUSSIA — 5.9% | ||||||||
Gazprom PJSC ADR (c) | 496,920 | 2,418,013 | ||||||
Gazprom PJSC ADR (c) | 2,236,705 | 11,026,955 | ||||||
LUKOIL PJSC ADR | 58,726 | 4,046,221 | ||||||
LUKOIL PJSC | 164,413 | 11,385,958 | ||||||
|
| |||||||
28,877,147 | ||||||||
|
| |||||||
SOUTH AFRICA — 26.7% | ||||||||
AVI, Ltd. | 407,639 | 3,812,601 | ||||||
Barclays Africa Group, Ltd. | 692,761 | 11,091,192 | ||||||
FirstRand, Ltd. (a) | 1,486,305 | 8,391,924 | ||||||
Foschini Group, Ltd. | 480,050 | 9,065,191 | ||||||
Growthpoint Properties, Ltd. REIT (a) | 3,503,223 | 8,399,752 | ||||||
JSE, Ltd. | 95,035 | 1,486,472 | ||||||
Liberty Holdings, Ltd. (a) | 230,831 | 2,445,898 | ||||||
Life Healthcare Group Holdings, Ltd. | 1,770,029 | 4,124,528 | ||||||
MMI Holdings, Ltd. | 899,003 | 1,667,694 | ||||||
Nedbank Group, Ltd. (a) | 418,058 | 10,074,673 | ||||||
Netcare, Ltd. | 2,198,237 | 5,194,694 | ||||||
Pick n Pay Stores, Ltd. | 530,521 | 3,068,839 | ||||||
Rand Merchant Investment Holdings, Ltd. | 765,294 | 2,583,543 | ||||||
Reunert, Ltd. | 107,382 | 674,992 |
See accompanying notes to financial statements.
20
Table of Contents
SPDR S&P EMERGING MARKETS DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
RMB Holdings, Ltd. | 668,998 | $ | 4,356,003 | |||||
Sanlam, Ltd. (a) | 925,283 | 6,661,179 | ||||||
SPAR Group, Ltd. | 279,819 | 4,783,639 | ||||||
Standard Bank Group, Ltd. (a) | 533,300 | 9,842,561 | ||||||
Tiger Brands, Ltd. | 122,215 | 3,837,028 | ||||||
Truworths International, Ltd. | 932,065 | 8,458,694 | ||||||
Tsogo Sun Holdings, Ltd. | 632,154 | 1,244,701 | ||||||
Vodacom Group, Ltd. | 838,964 | 10,838,293 | ||||||
Woolworths Holdings, Ltd. | 1,615,149 | 8,178,832 | ||||||
|
| |||||||
130,282,923 | ||||||||
|
| |||||||
TAIWAN — 20.2% | ||||||||
Advanced Semiconductor Engineering, Inc. | 5,832,361 | 8,431,389 | ||||||
Cheng Shin Rubber Industry Co., Ltd. | 2,217,000 | 3,600,334 | ||||||
Chin-Poon Industrial Co., Ltd. | 1,023,000 | 1,831,485 | ||||||
FLEXium Interconnect, Inc. | 1,847,864 | 6,331,297 | ||||||
Giant Manufacturing Co., Ltd. | 117,000 | 613,952 | ||||||
Ginko International Co., Ltd. | 207,000 | 1,537,041 | ||||||
Hua Nan Financial Holdings Co., Ltd. | 3,942,900 | 2,366,524 | ||||||
Huaku Development Co., Ltd. | 432,000 | 1,065,295 | ||||||
Kung Long Batteries Industrial Co., Ltd. | 6,000 | 29,941 | ||||||
Lite-On Technology Corp. | 4,682,000 | 6,535,563 | ||||||
Mega Financial Holding Co., Ltd. | 4,960,000 | 4,261,344 | ||||||
Namchow Holdings Co., Ltd. | 192,000 | 399,053 | ||||||
Phison Electronics Corp. | 774,000 | 8,056,693 | ||||||
Pou Chen Corp. | 1,813,000 | 2,406,390 | ||||||
Sercomm Corp. | 601,000 | 1,644,881 | ||||||
Simplo Technology Co., Ltd. | 350,800 | 2,231,828 | ||||||
Sinbon Electronics Co., Ltd. | 697,000 | 1,831,128 | ||||||
Sitronix Technology Corp. | 148,000 | 439,579 | ||||||
Taiwan Mobile Co., Ltd. | 2,224,200 | 8,314,909 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 206,023 | 9,015,566 | ||||||
TTY Biopharm Co., Ltd. | 633,000 | 2,149,295 | ||||||
TXC Corp. | 172,000 | 230,950 | ||||||
Uni-President Enterprises Corp. | 4,109,000 | 9,625,294 | ||||||
United Microelectronics Corp. | 21,622,000 | 11,346,044 | ||||||
Wistron NeWeb Corp. | 755,035 | 1,978,416 | ||||||
WPG Holdings, Ltd. | 1,759,000 | 2,274,387 | ||||||
|
| |||||||
98,548,578 | ||||||||
|
| |||||||
THAILAND — 17.6% | ||||||||
Bangkok Bank PCL (d) | 1,322,451 | 9,050,352 | ||||||
Bangkok Bank PCL NVDR | 423,400 | 2,680,947 | ||||||
Delta Electronics Thailand PCL (d) | 75,000 | 158,898 | ||||||
Delta Electronics Thailand PCL NVDR | 486,600 | 1,030,932 |
See accompanying notes to financial statements.
21
Table of Contents
SPDR S&P EMERGING MARKETS DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Electricity Generating PCL (d) | 32,800 | $ | 240,205 | |||||
Electricity Generating PCL NVDR | 263,300 | 1,928,228 | ||||||
Glow Energy PCL (d) | 44,600 | 121,234 | ||||||
Glow Energy PCL NVDR | 884,100 | 2,403,214 | ||||||
Major Cineplex Group PCL (d) | 714,700 | 651,389 | ||||||
Major Cineplex Group PCL NVDR | 849,700 | 774,431 | ||||||
Pruksa Holding PCL NVDR | 37,000 | 25,676 | ||||||
PTT Global Chemical PCL (d) | 8,600 | 26,059 | ||||||
PTT Global Chemical PCL NVDR | 4,652,300 | 14,096,752 | ||||||
PTT PCL NVDR | 1,119,853 | 19,625,182 | ||||||
Ratchaburi Electricity Generating Holding PCL (d) | 811,500 | 1,336,497 | ||||||
Siam Cement PCL (d) | 188,800 | 2,982,641 | ||||||
Siam Cement PCL NVDR | 714,800 | 11,292,331 | ||||||
Thai Beverage PCL (a) | 8,514,000 | 5,064,379 | ||||||
Thai Vegetable Oil PCL (d) | 19,300 | 21,139 | ||||||
Thai Vegetable Oil PCL NVDR | 984,937 | 1,078,801 | ||||||
Thanachart Capital PCL NVDR | 2,336,600 | 3,885,616 | ||||||
Thanachart Capital PCL (d) | 252,600 | 420,058 | ||||||
Tisco Financial Group PCL NVDR | 2,166,900 | 6,098,088 | ||||||
Tisco Financial Group PCL (d) | 216,300 | 608,711 | ||||||
|
| |||||||
85,601,760 | ||||||||
|
| |||||||
TURKEY — 0.3% | ||||||||
Enka Insaat ve Sanayi A/S | 1,018,633 | 1,391,125 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 484,877,901 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 8.1% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (e) (f) | 713,909 | 713,909 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (e) (g) | 38,837,851 | 38,837,851 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 39,551,760 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 107.6% | 524,429,661 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (7.6)% | (37,099,605 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 487,330,056 | ||||||
|
|
See accompanying notes to financial statements.
22
Table of Contents
SPDR S&P EMERGING MARKETS DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Non-income producing security. |
(c) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(d) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $15,617,183 representing 3.2% of net assets. |
(e) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(f) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(g) | Investment of cash collateral for securities loaned. |
ADR =American Depositary Receipt
NVDR =Non Voting Depositary Receipt
REIT =Real Estate Investment Trust
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 — Quoted Prices | Level 2 — Other Significant Observable Inputs | Level 3 — Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Chile | $ | 3,642,516 | $ — | $— | $ | 3,642,516 | ||||||||||||||
China | 57,127,921 | — | — | 57,127,921 | ||||||||||||||||
Colombia | 5,264,520 | — | — | 5,264,520 | ||||||||||||||||
Hong Kong | 10,628,456 | — | — | 10,628,456 | ||||||||||||||||
India | 2,152,516 | — | — | 2,152,516 | ||||||||||||||||
Indonesia | 18,057,475 | — | — | 18,057,475 | ||||||||||||||||
Malaysia | 34,751,572 | — | — | 34,751,572 | ||||||||||||||||
Mexico | 1,956,935 | — | — | 1,956,935 | ||||||||||||||||
Philippines | 813,135 | — | — | 813,135 | ||||||||||||||||
Poland | 3,517,538 | — | — | 3,517,538 | ||||||||||||||||
Qatar | 2,263,784 | — | — | 2,263,784 | ||||||||||||||||
Russia | 28,877,147 | — | — | 28,877,147 | ||||||||||||||||
South Africa | 130,282,923 | — | — | 130,282,923 | ||||||||||||||||
Taiwan | 98,548,578 | — | — | 98,548,578 | ||||||||||||||||
Thailand | 69,984,577 | 15,617,183 | — | 85,601,760 | ||||||||||||||||
Turkey | 1,391,125 | — | — | 1,391,125 | ||||||||||||||||
Short-Term Investments | 39,551,760 | — | — | 39,551,760 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 508,812,478 | $15,617,183 | $— | $ | 524,429,661 | ||||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
23
Table of Contents
SPDR S&P EMERGING MARKETS DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 26,195 | $ | 26,195 | $ | 21,808,503 | $ | 21,120,789 | $ | — | $ | — | 713,909 | $ | 713,909 | $ | 4,679 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 16,561,043 | 16,561,043 | 79,261,261 | 56,984,453 | — | — | 38,837,851 | 38,837,851 | 48,726 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 16,587,238 | $ | 101,069,764 | $ | 78,105,242 | $ | — | $ | — | $ | 39,551,760 | $ | 53,405 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
24
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS - 99.7% | ||||||||
BRAZIL – 4.5% | ||||||||
CVC Brasil Operadora e Agencia de Viagens SA | 108,309 | $ | 1,976,454 | |||||
Other Securities | 6,515,807 | 23,410,015 | ||||||
|
| |||||||
25,386,469 | ||||||||
|
| |||||||
CHILE – 1.5% | ||||||||
Vina Concha y Toro SA | 635,708 | 1,375,130 | ||||||
Other Securities | 12,104,567 | 6,741,564 | ||||||
|
| |||||||
8,116,694 | ||||||||
|
| |||||||
CHINA – 15.1% | ||||||||
Boshiwa International Holding, Ltd. (a) (b) (c) | 1,843,000 | — | ||||||
China Animal Healthcare, Ltd. (a) (b) (c) | 1,059,700 | — | ||||||
China Forestry Holdings Co., Ltd. (b) (c) | 1,642,000 | — | ||||||
China Hongxing Sports, Ltd. (a) (b) (c) | 4,053,000 | — | ||||||
China Shanshui Cement Group, Ltd. (a) (b) (c) | 1,224,000 | 58,484 | ||||||
Chinasoft International, Ltd. (a) (b) | 1,934,000 | 1,734,816 | ||||||
Coolpad Group, Ltd. (a) (c) | 2,353,600 | 107,959 | ||||||
Fu Shou Yuan International Group, Ltd. | 1,508,000 | 1,494,877 | ||||||
Future Land Holdings Co., Ltd. Class A | 531,529 | 2,955,144 | ||||||
Genscript Biotech Corp. (b) | 510,000 | 1,631,054 | ||||||
Kingdee International Software Group Co., Ltd. (a) (b) | 1,928,000 | 1,940,701 | ||||||
Li Ning Co., Ltd. (a) | 2,197,249 | 2,250,918 | ||||||
Luye Pharma Group, Ltd. (b) | 1,916,500 | 1,833,889 | ||||||
National Agricultural Holdings, Ltd. (a) (c) | 396,000 | 30,022 | ||||||
Real Gold Mining, Ltd. (a) (c) | 251,500 | — | ||||||
Silergy Corp. | 64,000 | 1,442,124 | ||||||
Other Securities | 212,990,312 | 69,061,947 | ||||||
|
| |||||||
84,541,935 | ||||||||
|
| |||||||
COLOMBIA – 0.0% (d) | ||||||||
Other Security | 189,675 | 203,046 | ||||||
|
| |||||||
CZECH REPUBLIC – 0.5% | ||||||||
Moneta Money Bank A/S (e) | 506,469 | 2,097,947 | ||||||
Other Security | 1,032 | 857,971 | ||||||
|
| |||||||
2,955,918 | ||||||||
|
| |||||||
EGYPT – 1.1% | ||||||||
Eastern Tobacco | 43,562 | 1,469,742 | ||||||
ElSewedy Electric Co. | 107,126 | 1,316,380 | ||||||
Other Securities | 6,774,877 | 3,604,028 | ||||||
|
| |||||||
6,390,150 | ||||||||
|
|
See accompanying notes to financial statements.
25
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
GREECE – 0.9% | ||||||||
Other Securities | 1,484,038 | $ | 5,100,962 | |||||
|
| |||||||
HONG KONG – 2.8% | ||||||||
Anxin-China Holdings, Ltd. (a) (c) | 2,248,000 | — | ||||||
China High Precision Automation Group, Ltd. (a) (c) | 1,226,000 | — | ||||||
China Lumena New Materials Corp. (a) (b) (c) | 4,181,298 | — | ||||||
China Metal Recycling Holdings, Ltd. (a) (b) (c) | 693,675 | — | ||||||
Hua Han Health Industry Holdings, Ltd. (a) (c) | 2,414,560 | 122,292 | ||||||
SSY Group, Ltd. | 1,969,562 | 1,729,073 | ||||||
Other Securities | 92,963,034 | 14,065,788 | ||||||
|
| |||||||
15,917,153 | ||||||||
|
| |||||||
HUNGARY – 0.2% | ||||||||
Other Security | 571,848 | 1,021,657 | ||||||
|
| |||||||
INDIA – 13.1% | ||||||||
Bharat Financial Inclusion, Ltd. (a) | 104,983 | 1,765,526 | ||||||
Chennai Super Kings Cricket, Ltd. (a) (c) | 418,560 | — | ||||||
Escorts, Ltd. | 114,143 | 1,431,738 | ||||||
Info Edge India, Ltd. | 84,867 | 1,529,440 | ||||||
Jubilant Foodworks, Ltd. | 54,417 | 1,940,547 | ||||||
Jubilant Life Sciences, Ltd. | 106,181 | 1,366,626 | ||||||
MakeMyTrip, Ltd. (a) (b) | 38,166 | 1,324,360 | ||||||
Mindtree, Ltd. | 170,441 | 2,017,303 | ||||||
NCC, Ltd. | 736,612 | 1,327,606 | ||||||
PI Industries, Ltd. | 97,293 | 1,320,477 | ||||||
Tata Global Beverages, Ltd. | 384,936 | 1,527,133 | ||||||
WNS Holdings, Ltd. ADR (a) | 51,952 | 2,354,984 | ||||||
Other Securities | 32,680,327 | 55,229,618 | ||||||
|
| |||||||
73,135,358 | ||||||||
|
| |||||||
INDONESIA – 3.1% | ||||||||
Indah Kiat Pulp & Paper Corp. Tbk PT | 2,528,300 | 2,020,069 | ||||||
Other Securities | 195,537,086 | 15,269,960 | ||||||
|
| |||||||
17,290,029 | ||||||||
|
| |||||||
MALAYSIA – 5.0% | ||||||||
Bursa Malaysia Bhd | 490,073 | 1,388,625 | ||||||
My EG Services Bhd | 2,818,450 | 2,069,389 | ||||||
Top Glove Corp. Bhd | 855,300 | 2,155,940 | ||||||
Other Securities | 55,227,495 | 22,474,555 | ||||||
|
| |||||||
28,088,509 | ||||||||
|
| |||||||
MEXICO – 2.0% | ||||||||
Other Securities | 12,537,721 | 11,386,180 | ||||||
|
|
See accompanying notes to financial statements.
26
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
MONACO – 0.2% | ||||||||
Other Securities | 196,530 | $ | 1,270,391 | |||||
|
| |||||||
PAKISTAN – 1.3% | ||||||||
Other Securities | 6,288,218 | 7,072,336 | ||||||
|
| |||||||
PERU – 0.6% | ||||||||
Ferreycorp SAA | 1,893,991 | 1,490,800 | ||||||
Other Securities | 2,434,755 | 1,822,275 | ||||||
|
| |||||||
3,313,075 | ||||||||
|
| |||||||
PHILIPPINES – 1.2% | ||||||||
Other Securities | 30,649,765 | 6,808,816 | ||||||
|
| |||||||
POLAND – 2.0% | ||||||||
Other Securities | 1,984,760 | 10,919,961 | ||||||
|
| |||||||
QATAR – 0.5% | ||||||||
Other Securities | 876,138 | 2,760,785 | ||||||
|
| |||||||
RUSSIA – 0.9% | ||||||||
Globaltrans Investment PLC GDR | 111,827 | 1,326,268 | ||||||
Other Securities | 707,389 | 3,762,719 | ||||||
|
| |||||||
5,088,987 | ||||||||
|
| |||||||
SINGAPORE – 0.3% | ||||||||
Other Securities | 3,674,160 | 1,430,380 | ||||||
|
| |||||||
SOUTH AFRICA – 5.6% | ||||||||
Coronation Fund Managers, Ltd. | 210,012 | 1,431,068 | ||||||
Hosken Consolidated Investments, Ltd. | 113,266 | 1,376,542 | ||||||
JSE, Ltd. | 111,331 | 1,741,363 | ||||||
Reunert, Ltd. | 253,706 | 1,594,769 | ||||||
Other Securities | 16,759,487 | 25,258,296 | ||||||
|
| |||||||
31,402,038 | ||||||||
|
| |||||||
TAIWAN – 29.0% | ||||||||
Accton Technology Corp. | 487,341 | 1,587,866 | ||||||
Acer, Inc. (a) | 2,343,000 | 1,944,665 | ||||||
Chipbond Technology Corp. | 685,000 | 1,609,305 | ||||||
Chroma ATE, Inc. | 326,680 | 2,011,149 | ||||||
King’s Town Bank Co., Ltd. | 1,174,000 | 1,485,770 | ||||||
Micro-Star International Co., Ltd. | 578,000 | 1,936,777 | ||||||
Realtek Semiconductor Corp. | 440,053 | 1,894,113 | ||||||
Silicon Motion Technology Corp. ADR | 31,543 | 1,517,849 | ||||||
Sino-American Silicon Products, Inc. (a) | 425,058 | 1,567,162 | ||||||
Synnex Technology International Corp. | 1,077,000 | 1,606,801 | ||||||
Teco Electric and Machinery Co., Ltd. | 1,773,000 | 1,462,450 | ||||||
Tripod Technology Corp. | 427,353 | 1,437,848 |
See accompanying notes to financial statements.
27
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Walsin Lihwa Corp | 2,550,000 | $ | 1,556,745 | |||||
Other Securities | 139,547,036 | 140,634,936 | ||||||
|
| |||||||
162,253,436 | ||||||||
|
| |||||||
THAILAND – 5.8% | ||||||||
Beauty Community PCL (f) | 2,432,400 | 1,656,863 | ||||||
Inter Far East Energy Corp. NVDR (a) (c) | 283,900 | — | ||||||
International Engineering PCL (a) (c) | 127,711,868 | — | ||||||
Srisawad Corp. PCL NVDR | 730,309 | 1,424,651 | ||||||
Other Securities | 88,628,451 | 29,260,160 | ||||||
|
| |||||||
32,341,674 | ||||||||
|
| |||||||
TURKEY – 1.6% | ||||||||
Other Securities | 9,579,405 | 8,970,575 | ||||||
|
| |||||||
UNITED ARAB EMIRATES – 0.7% | ||||||||
Other Securities | 14,593,121 | 3,836,243 | ||||||
|
| |||||||
UNITED KINGDOM – 0.0% (d) | ||||||||
Other Security | 1,269,532 | 128,574 | ||||||
|
| |||||||
UNITED STATES – 0.2% | ||||||||
Other Securities | 64,851 | 1,089,844 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 558,221,175 | |||||||
|
| |||||||
WARRANTS - 0.0% (d) | ||||||||
INDONESIA – 0.0% (d) | ||||||||
Other Security | 2,135,866 | 97,737 | ||||||
|
| |||||||
MALAYSIA – 0.0% (d) | ||||||||
Other Securities | 354,041 | 30,403 | ||||||
|
| |||||||
THAILAND – 0.0% (d) | ||||||||
International Engineering PCL (expiring 5/22/19) (a) (c) | 13,635,806 | — | ||||||
Other Security | 2,640,860 | 22,802 | ||||||
|
| |||||||
22,802 | ||||||||
|
| |||||||
TOTAL WARRANTS | 150,942 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS - 3.7% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (g) (h) | 823,507 | 823,507 |
See accompanying notes to financial statements.
28
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (g) (i) | 19,823,794 | $ | 19,823,794 | |||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 20,647,301 | |||||||
|
| |||||||
TOTAL INVESTMENTS - 103.4% | 579,019,418 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (3.4)% | (19,272,977 | ) | ||||||
|
| |||||||
NET ASSETS - 100.0% | $ | 559,746,441 | ||||||
|
|
The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available on the Fund’s website at www.spdrs.com, without charge, upon request by calling 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $318,757, representing less than 0.05% of the Fund’s net assets. |
(d) | Amount is less than 0.05% of net assets. |
(e) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.9% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(f) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $7,937,267 representing 1.4% of net assets. |
(g) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(h) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(i) | Investment of cash collateral for securities loaned. |
ADR American Depositary Receipt
GDR Global Depositary Receipt
NVDR Non Voting Depositary Receipt
See accompanying notes to financial statements.
29
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 — Quoted Prices | Level 2 — Other Significant Observable Inputs | Level 3 — Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Brazil | $ | 25,386,469 | $ | — | $ | — | $ | 25,386,469 | ||||||||||||
Chile | 8,116,694 | — | — | 8,116,694 | ||||||||||||||||
China | 84,345,470 | — | 196,465 | 84,541,935 | ||||||||||||||||
Colombia | 203,046 | — | — | 203,046 | ||||||||||||||||
Czech Republic | 2,955,918 | — | — | 2,955,918 | ||||||||||||||||
Egypt | 6,390,150 | — | — | 6,390,150 | ||||||||||||||||
Greece | 5,100,962 | — | — | 5,100,962 | ||||||||||||||||
Hong Kong | 15,742,571 | 52,290 | 122,292 | 15,917,153 | ||||||||||||||||
Hungary | 1,021,657 | — | — | 1,021,657 | ||||||||||||||||
India | 73,135,358 | — | 0 | (a) | 73,135,358 | |||||||||||||||
Indonesia | 17,290,029 | — | — | 17,290,029 | ||||||||||||||||
Malaysia | 28,088,509 | — | — | 28,088,509 | ||||||||||||||||
Mexico | 11,386,180 | — | — | 11,386,180 | ||||||||||||||||
Monaco | 1,270,391 | — | — | 1,270,391 | ||||||||||||||||
Pakistan | 7,072,336 | — | — | 7,072,336 | ||||||||||||||||
Peru | 3,313,075 | — | — | 3,313,075 | ||||||||||||||||
Philippines | 6,808,816 | — | — | 6,808,816 | ||||||||||||||||
Poland | 10,919,961 | — | — | 10,919,961 | ||||||||||||||||
Qatar | 2,760,785 | — | — | 2,760,785 | ||||||||||||||||
Russia | 5,088,987 | — | — | 5,088,987 | ||||||||||||||||
Singapore | 1,430,380 | — | — | 1,430,380 | ||||||||||||||||
South Africa | 31,402,038 | — | — | 31,402,038 | ||||||||||||||||
Taiwan | 162,253,436 | — | — | 162,253,436 | ||||||||||||||||
Thailand | 24,624,557 | 7,717,117 | 0 | (a) | 32,341,674 | |||||||||||||||
Turkey | 8,970,575 | — | — | 8,970,575 | ||||||||||||||||
United Arab Emirates | 3,672,476 | 163,767 | — | 3,836,243 | ||||||||||||||||
United Kingdom | 128,574 | — | — | 128,574 | ||||||||||||||||
United States | 1,089,844 | — | — | 1,089,844 | ||||||||||||||||
Warrants | ||||||||||||||||||||
Indonesia | 97,737 | — | — | 97,737 | ||||||||||||||||
Malaysia | 26,310 | 4,093 | — | 30,403 | ||||||||||||||||
Thailand | 22,802 | — | 0 | (a) | 22,802 | |||||||||||||||
Short-Term Investments | 20,647,301 | — | — | 20,647,301 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 570,763,394 | $ | 7,937,267 | $ | 318,757 | $ | 579,019,418 | ||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
30
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 379,285 | $ | 379,285 | $ | 25,055,869 | $ | 24,611,647 | $ | — | $ | — | 823,507 | $ | 823,507 | $ | 6,544 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 16,261,252 | 16,261,252 | 39,107,436 | 35,544,894 | — | — | 19,823,794 | 19,823,794 | 405,535 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 16,640,537 | $ | 64,163,305 | $ | 60,156,541 | $ | — | $ | — | $ | 20,647,301 | $ | 412,079 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
31
Table of Contents
SPDR S&P INTERNATIONAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.5% | ||||||||
AUSTRALIA — 11.5% | ||||||||
AusNet Services | 6,625,387 | $ | 8,512,355 | |||||
carsales.com, Ltd. | 833,032 | 8,632,582 | ||||||
Charter Hall Group REIT | 1,311,453 | 5,764,093 | ||||||
Commonwealth Bank of Australia | 364,791 | 20,233,273 | ||||||
DuluxGroup, Ltd. | 1,297,515 | 7,345,010 | ||||||
Goodman Group REIT | 668,420 | 4,322,158 | ||||||
GPT Group REIT | 1,554,825 | 5,653,059 | ||||||
Investa Office Fund REIT | 1,521,418 | 5,029,786 | ||||||
Mirvac Group REIT | 3,666,579 | 6,046,766 | ||||||
Sonic Healthcare, Ltd. | 808,360 | 14,186,802 | ||||||
Stockland REIT | 2,072,642 | 6,406,975 | ||||||
Transurban Group Stapled Security | 2,113,050 | 18,509,707 | ||||||
Vicinity Centres REIT | 4,327,244 | 7,999,302 | ||||||
Westpac Banking Corp. | 1,052,605 | 23,107,807 | ||||||
|
| |||||||
141,749,675 | ||||||||
|
| |||||||
BELGIUM — 0.6% | ||||||||
bpost SA | 327,016 | 7,384,039 | ||||||
|
| |||||||
CANADA — 13.6% | ||||||||
BCE, Inc. | 425,151 | 18,282,235 | ||||||
Canadian Imperial Bank of Commerce (a) | 206,991 | 18,257,915 | ||||||
Emera, Inc. | 550,246 | 17,396,181 | ||||||
Fortis, Inc. | 443,132 | 14,948,079 | ||||||
H&R Real Estate Investment Trust | 401,068 | 6,542,145 | ||||||
Intact Financial Corp. | 131,286 | 9,858,288 | ||||||
Power Corp. of Canada | 648,827 | 14,795,822 | ||||||
Royal Bank of Canada | 192,181 | 14,834,868 | ||||||
SmartCentres Real Estate Investment Trust | 183,716 | 4,148,127 | ||||||
Sun Life Financial, Inc. | 389,532 | 15,986,145 | ||||||
TELUS Corp. | 497,737 | 17,465,675 | ||||||
Toronto-Dominion Bank | 266,125 | 15,091,254 | ||||||
|
| |||||||
167,606,734 | ||||||||
|
| |||||||
FINLAND — 1.1% | ||||||||
Kone Oyj Class B | 270,343 | 13,475,473 | ||||||
|
| |||||||
FRANCE — 2.3% | ||||||||
Bureau Veritas SA | 480,073 | 12,463,724 | ||||||
Danone SA | 135,034 | 10,915,888 | ||||||
ICADE REIT | 48,312 | 4,687,964 | ||||||
|
| |||||||
28,067,576 | ||||||||
|
|
See accompanying notes to financial statements.
32
Table of Contents
SPDR S&P INTERNATIONAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
GERMANY — 5.6% | ||||||||
Axel Springer SE | 174,867 | $ | 14,624,098 | |||||
Deutsche EuroShop AG | 263,368 | 9,652,317 | ||||||
Deutsche Post AG | 277,685 | 12,130,471 | ||||||
Fielmann AG | 74,815 | 6,045,140 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 90,961 | 21,126,352 | ||||||
Talanx AG (b) | 132,336 | 5,751,708 | ||||||
|
| |||||||
69,330,086 | ||||||||
|
| |||||||
HONG KONG — 6.9% | ||||||||
CK Infrastructure Holdings, Ltd. | 1,784,500 | 14,586,047 | ||||||
CLP Holdings, Ltd. | 1,579,500 | 16,080,177 | ||||||
Hang Seng Bank, Ltd. | 618,200 | 14,304,387 | ||||||
Link REIT | 654,500 | 5,587,388 | ||||||
Power Assets Holdings, Ltd. | 2,214,500 | 19,737,303 | ||||||
Sino Land Co., Ltd. | 4,244,597 | 6,868,542 | ||||||
Yue Yuen Industrial Holdings, Ltd. | 2,038,500 | 8,090,832 | ||||||
|
| |||||||
85,254,676 | ||||||||
|
| |||||||
ITALY — 1.4% | ||||||||
Atlantia SpA | 545,720 | 16,879,523 | ||||||
|
| |||||||
JAPAN — 6.8% | ||||||||
Activia Properties, Inc. REIT | 1,072 | 4,782,924 | ||||||
Advance Residence Investment Corp. REIT | 1,980 | 5,019,351 | ||||||
Daiwa House REIT Investment Corp. | 1,791 | 4,317,935 | ||||||
GLP J - REIT | 3,920 | 4,323,611 | ||||||
Hikari Tsushin, Inc. | 65,300 | 10,419,756 | ||||||
Japan Prime Realty Investment Corp. REIT | 1,433 | 5,187,635 | ||||||
Japan Real Estate Investment Corp. REIT | 813 | 4,212,158 | ||||||
Japan Retail Fund Investment Corp. REIT | 2,794 | 5,411,979 | ||||||
Kenedix Office Investment Corp. REIT | 771 | 4,690,522 | ||||||
Lawson, Inc. (a) | 226,900 | 15,446,695 | ||||||
Nippon Building Fund, Inc. REIT | 795 | 4,395,487 | ||||||
Nippon Prologis REIT, Inc. | 2,307 | 4,991,450 | ||||||
Orix JREIT, Inc. REIT | 3,304 | 5,132,307 | ||||||
United Urban Investment Corp. REIT | 3,378 | 5,279,018 | ||||||
|
| |||||||
83,610,828 | ||||||||
|
| |||||||
MALAYSIA — 3.6% | ||||||||
Gamuda Bhd | 6,974,500 | 9,286,110 | ||||||
Public Bank Bhd | 2,590,000 | 16,070,321 | ||||||
Tenaga Nasional Bhd | 4,522,000 | 18,892,327 | ||||||
|
| |||||||
44,248,758 | ||||||||
|
|
See accompanying notes to financial statements.
33
Table of Contents
SPDR S&P INTERNATIONAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
NEW ZEALAND — 1.0% | ||||||||
Spark New Zealand, Ltd. | 5,021,837 | $ | 12,099,991 | |||||
|
| |||||||
PORTUGAL — 2.4% | ||||||||
EDP - Energias de Portugal SA | 7,851,497 | 29,818,244 | ||||||
|
| |||||||
RUSSIA — 2.1% | ||||||||
Gazprom PJSC ADR | 5,393,901 | 26,246,722 | ||||||
|
| |||||||
SINGAPORE — 3.5% | ||||||||
CapitaLand, Ltd. | 4,092,600 | 11,142,059 | ||||||
Singapore Exchange, Ltd. | 2,086,000 | 11,724,106 | ||||||
Singapore Telecommunications, Ltd. | 7,859,800 | 20,199,440 | ||||||
|
| |||||||
43,065,605 | ||||||||
|
| |||||||
SOUTH AFRICA — 1.7% | ||||||||
AVI, Ltd. | 954,162 | 8,924,168 | ||||||
Shoprite Holdings, Ltd. | 572,799 | 12,210,366 | ||||||
|
| |||||||
21,134,534 | ||||||||
|
| |||||||
SPAIN — 5.2% | ||||||||
Enagas SA | 925,387 | 25,299,688 | ||||||
Iberdrola SA | 2,681,731 | 19,696,421 | ||||||
Red Electrica Corp. SA | 934,050 | 19,218,450 | ||||||
|
| |||||||
64,214,559 | ||||||||
|
| |||||||
SWEDEN — 3.5% | ||||||||
ICA Gruppen AB (a) | 342,174 | 12,069,327 | ||||||
Intrum Justitia AB (a) | 338,054 | 9,554,542 | ||||||
Skanska AB Class B | 1,076,231 | 21,929,935 | ||||||
|
| |||||||
43,553,804 | ||||||||
|
| |||||||
SWITZERLAND — 9.4% | ||||||||
Baloise Holding AG | 90,593 | 13,821,676 | ||||||
Helvetia Holding AG | 21,629 | 12,863,111 | ||||||
Nestle SA | 129,538 | 10,229,390 | ||||||
PSP Swiss Property AG | 73,389 | 7,142,706 | ||||||
Roche Holding AG Bearer Shares | 33,820 | 7,833,413 | ||||||
Schindler Holding AG | 31,497 | 6,775,670 | ||||||
Swiss Prime Site AG (b) | 140,193 | 13,534,715 | ||||||
Swiss Re AG | 239,810 | 24,361,651 | ||||||
Swisscom AG (a) | 39,094 | 19,334,710 | ||||||
|
| |||||||
115,897,042 | ||||||||
|
| |||||||
TAIWAN — 1.8% | ||||||||
Hua Nan Financial Holdings Co., Ltd. | 6,466,350 | 3,881,096 |
See accompanying notes to financial statements.
34
Table of Contents
SPDR S&P INTERNATIONAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Taiwan Mobile Co., Ltd. | 4,870,000 | $ | 18,205,920 | |||||
|
| |||||||
22,087,016 | ||||||||
|
| |||||||
THAILAND — 1.3% | ||||||||
Bangkok Bank PCL (c) | 2,243,092 | 15,350,869 | ||||||
|
| |||||||
UNITED KINGDOM — 14.2% | ||||||||
Diageo PLC | 319,755 | 10,819,082 | ||||||
Experian PLC | 432,571 | 9,329,713 | ||||||
Imperial Brands PLC | 560,561 | 19,076,972 | ||||||
Kingfisher PLC | 3,107,452 | 12,750,466 | ||||||
National Grid PLC | 1,990,603 | 22,400,776 | ||||||
Pennon Group PLC | 1,584,620 | 14,302,170 | ||||||
RELX PLC | 319,598 | 6,568,065 | ||||||
Segro PLC REIT | 684,725 | 5,774,720 | ||||||
SSE PLC | 1,721,032 | 30,806,004 | ||||||
Ultra Electronics Holdings PLC | 345,191 | 6,696,955 | ||||||
United Utilities Group PLC | 1,937,888 | 19,447,929 | ||||||
WPP PLC | 1,043,630 | 16,579,847 | ||||||
|
| |||||||
174,552,699 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 1,225,628,453 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 2.9% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (d) (e) | 1,136,427 | 1,136,427 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (d) (f) | 33,995,826 | 33,995,826 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 35,132,253 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 102.4% | 1,260,760,706 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.4)% | (29,178,172 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 1,231,582,534 | ||||||
|
|
See accompanying notes to financial statements.
35
Table of Contents
SPDR S&P INTERNATIONAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Non-income producing security. |
(c) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $15,350,869 representing 1.3% of net assets. |
(d) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(e) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(f) | Investment of cash collateral for securities loaned. |
ADR =American Depositary Receipt
REIT =Real Estate Investment Trust
See accompanying notes to financial statements.
36
Table of Contents
SPDR S&P INTERNATIONAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 — Quoted Prices | Level 2 — Other Significant Observable Inputs | Level 3 — Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | $ | 141,749,675 | $ | — | $ | — | $ | 141,749,675 | ||||||||||||
Belgium | 7,384,039 | — | — | 7,384,039 | ||||||||||||||||
Canada | 167,606,734 | — | — | 167,606,734 | ||||||||||||||||
Finland | 13,475,473 | — | — | 13,475,473 | ||||||||||||||||
France | 28,067,576 | — | — | 28,067,576 | ||||||||||||||||
Germany | 69,330,086 | — | — | 69,330,086 | ||||||||||||||||
Hong Kong | 85,254,676 | — | — | 85,254,676 | ||||||||||||||||
Italy | 16,879,523 | — | — | 16,879,523 | ||||||||||||||||
Japan | 83,610,828 | — | — | 83,610,828 | ||||||||||||||||
Malaysia | 44,248,758 | — | — | 44,248,758 | ||||||||||||||||
New Zealand | 12,099,991 | — | — | 12,099,991 | ||||||||||||||||
Portugal | 29,818,244 | — | — | 29,818,244 | ||||||||||||||||
Russia | 26,246,722 | — | — | 26,246,722 | ||||||||||||||||
Singapore | 43,065,605 | — | — | 43,065,605 | ||||||||||||||||
South Africa | 21,134,534 | — | — | 21,134,534 | ||||||||||||||||
Spain | 64,214,559 | — | — | 64,214,559 | ||||||||||||||||
Sweden | 43,553,804 | — | — | 43,553,804 | ||||||||||||||||
Switzerland | 115,897,042 | — | — | 115,897,042 | ||||||||||||||||
Taiwan | 22,087,016 | — | — | 22,087,016 | ||||||||||||||||
Thailand | — | 15,350,869 | — | 15,350,869 | ||||||||||||||||
United Kingdom | 174,552,699 | — | — | 174,552,699 | ||||||||||||||||
Short-Term Investments | 35,132,253 | — | — | 35,132,253 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 1,245,409,837 | $ | 15,350,869 | $ | — | $ | 1,260,760,706 | ||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
37
Table of Contents
SPDR S&P INTERNATIONAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 870,594 | $ | 870,594 | $ | 38,885,319 | $ | 38,619,486 | $ | — | $ | — | 1,136,427 | $ | 1,136,427 | $ | 8,869 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 513,248 | 513,248 | 372,357,066 | 338,874,489 | — | — | 33,995,826 | 33,995,826 | 176,201 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 1,383,842 | $ | 411,242,385 | $ | 377,493,975 | $ | — | $ | — | $ | 35,132,253 | $ | 185,070 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
38
Table of Contents
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.3% | ||||||||
BELGIUM — 1.9% | ||||||||
Anheuser-Busch InBev SA | 39,048 | $ | 4,287,511 | |||||
|
| |||||||
DENMARK — 2.0% | ||||||||
Novo Nordisk A/S Class B | 94,633 | 4,645,072 | ||||||
|
| |||||||
FRANCE — 17.0% | ||||||||
Air Liquide SA | 22,579 | 2,762,440 | ||||||
Airbus SE | 30,043 | 3,465,760 | ||||||
AXA SA | 109,757 | 2,915,669 | ||||||
BNP Paribas SA | 60,661 | 4,488,920 | ||||||
L’Oreal SA | 12,886 | 2,905,704 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 14,229 | 4,378,385 | ||||||
Sanofi | 60,227 | 4,839,006 | ||||||
Schneider Electric SE | 29,467 | 2,585,362 | ||||||
TOTAL SA (a) | 133,622 | 7,580,777 | ||||||
Vinci SA | 29,276 | 2,876,808 | ||||||
|
| |||||||
38,798,831 | ||||||||
|
| |||||||
GERMANY — 14.9% | ||||||||
Allianz SE | 23,175 | 5,227,227 | ||||||
BASF SE | 48,352 | 4,904,139 | ||||||
Bayer AG | 43,533 | 4,914,352 | ||||||
Daimler AG | 52,474 | 4,450,991 | ||||||
Deutsche Telekom AG | 170,924 | 2,785,295 | ||||||
SAP SE | 57,028 | 5,959,448 | ||||||
Siemens AG | 44,741 | 5,696,161 | ||||||
|
| |||||||
33,937,613 | ||||||||
|
| |||||||
ITALY — 2.3% | ||||||||
Eni SpA | 133,900 | 2,352,904 | ||||||
Intesa Sanpaolo SpA | 766,918 | 2,785,725 | ||||||
|
| |||||||
5,138,629 | ||||||||
|
| |||||||
NETHERLANDS — 6.8% | ||||||||
ASML Holding NV | 22,715 | 4,473,959 | ||||||
ING Groep NV | 204,779 | 3,450,311 | ||||||
Royal Dutch Shell PLC Class A | 242,218 | 7,681,143 | ||||||
|
| |||||||
15,605,413 | ||||||||
|
| |||||||
SPAIN — 4.7% | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 351,428 | 2,778,639 | ||||||
Banco Santander SA | 849,382 | 5,531,225 | ||||||
Telefonica SA | 242,254 | 2,391,831 | ||||||
|
| |||||||
10,701,695 | ||||||||
|
|
See accompanying notes to financial statements.
39
Table of Contents
SPDR STOXX EUROPE 50 ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SWITZERLAND — 19.2% | ||||||||
ABB, Ltd. | 108,174 | $ | 2,566,534 | |||||
Glencore PLC (b) | 638,718 | 3,170,026 | ||||||
Nestle SA | 163,963 | 12,947,872 | ||||||
Novartis AG | 129,695 | 10,463,906 | ||||||
Roche Holding AG | 37,016 | 8,469,304 | ||||||
UBS Group AG (b) | 203,092 | 3,561,957 | ||||||
Zurich Insurance Group AG (b) | 7,977 | 2,610,685 | ||||||
|
| |||||||
43,790,284 | ||||||||
|
| |||||||
UNITED KINGDOM — 30.5% | ||||||||
AstraZeneca PLC | 66,675 | 4,578,844 | ||||||
Barclays PLC | 845,689 | 2,449,777 | ||||||
BP PLC | 1,049,715 | 7,057,149 | ||||||
British American Tobacco PLC | 120,853 | 7,003,391 | ||||||
Diageo PLC | 129,880 | 4,394,561 | ||||||
GlaxoSmithKline PLC | 261,259 | 5,108,928 | ||||||
HSBC Holdings PLC | 1,070,639 | 9,993,592 | ||||||
Imperial Brands PLC | 50,280 | 1,711,125 | ||||||
Lloyds Banking Group PLC | 3,798,048 | 3,445,021 | ||||||
National Grid PLC | 178,078 | 2,003,958 | ||||||
Prudential PLC | 136,346 | 3,401,669 | ||||||
Reckitt Benckiser Group PLC | 36,493 | 3,088,948 | ||||||
Rio Tinto PLC | 61,317 | 3,106,019 | ||||||
Unilever NV | 82,283 | 4,641,851 | ||||||
Unilever PLC | 64,875 | 3,599,768 | ||||||
Vodafone Group PLC | 1,404,567 | 3,826,766 | ||||||
|
| |||||||
69,411,367 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 226,316,415 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 0.1% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (c) (d) | 162,654 | 162,654 |
See accompanying notes to financial statements.
40
Table of Contents
SPDR STOXX EUROPE 50 ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (c) (e) | 101,922 | $ | 101,922 | |||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 264,576 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 99.4% | 226,580,991 | |||||||
|
| |||||||
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.6% | 1,350,835 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 227,931,826 | ||||||
|
|
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Non-income producing security. |
(c) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(d) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(e) | Investment of cash collateral for securities loaned. |
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 — Quoted Prices | Level 2 — Other Significant Observable Inputs | Level 3 — Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Belgium | $ | 4,287,511 | $ | — | $ | — | $ | 4,287,511 | ||||||||||||
Denmark | 4,645,072 | — | — | 4,645,072 | ||||||||||||||||
France | 38,798,831 | — | — | 38,798,831 | ||||||||||||||||
Germany | 33,937,613 | — | — | 33,937,613 | ||||||||||||||||
Italy | 5,138,629 | — | — | 5,138,629 | ||||||||||||||||
Netherlands | 15,605,413 | — | — | 15,605,413 | ||||||||||||||||
Spain | 10,701,695 | — | — | 10,701,695 | ||||||||||||||||
Switzerland | 43,790,284 | — | — | 43,790,284 | ||||||||||||||||
United Kingdom | 69,411,367 | — | — | 69,411,367 | ||||||||||||||||
Short-Term Investments | 264,576 | — | — | 264,576 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 226,580,991 | $ | — | $ | — | $ | 226,580,991 | ||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
41
Table of Contents
SPDR STOXX EUROPE 50 ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 76,612 | $ | 76,612 | $ | 3,491,115 | $ | 3,405,073 | $ | — | $ | — | 162,654 | $ | 162,654 | $ | 820 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 128,419 | 128,419 | 61,184,011 | 61,210,508 | — | — | 101,922 | 101,922 | 36,771 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 205,031 | $ | 64,675,126 | $ | 64,615,581 | $ | — | $ | — | $ | 264,576 | $ | 37,591 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
42
Table of Contents
STATEMENTS OF ASSETS AND LIABILITIES
March 31, 2018 (Unaudited)
SPDR EURO STOXX 50 ETF | SPDR MSCI ACWI ex-US ETF | |||||||||
ASSETS | ||||||||||
Investments in unaffiliated issuers, at value* | $ | 4,351,775,666 | $ | 1,532,236,747 | ||||||
Investments in affiliated issuers, at value | 69,874,771 | 34,977,210 | ||||||||
|
|
|
| |||||||
Total Investments | 4,421,650,437 | 1,567,213,957 | ||||||||
Foreign currency, at value | 2,198,379 | 8,136,447 | ||||||||
Cash | — | 8 | ||||||||
Dividends receivable — unaffiliated issuers | 3,385,322 | 5,313,594 | ||||||||
Dividends receivable — affiliated issuers | 1,641 | 1,713 | ||||||||
Securities lending income receivable — unaffiliated issuers | 16,043 | 17,077 | ||||||||
Securities lending income receivable — affiliated issuers | 41,158 | 46,306 | ||||||||
Receivable from Adviser | — | 163,715 | ||||||||
Receivable for foreign taxes recoverable | 4,129,470 | 662,478 | ||||||||
Other Receivable | 1,382 | — | ||||||||
|
|
|
| |||||||
TOTAL ASSETS | 4,431,423,832 | 1,581,555,295 | ||||||||
|
|
|
| |||||||
LIABILITIES | ||||||||||
Payable upon return of securities loaned | 69,782,046 | 32,639,102 | ||||||||
Deferred foreign taxes payable | — | 24,901 | ||||||||
Advisory fee payable | 3,174,480 | 1,330,910 | ||||||||
Trustees’ fees and expenses payable | 4,982 | 1,351 | ||||||||
Accrued expenses and other liabilities | 717 | 19 | ||||||||
|
|
|
| |||||||
TOTAL LIABILITIES | 72,962,225 | 33,996,283 | ||||||||
|
|
|
| |||||||
NET ASSETS | $ | 4,358,461,607 | $ | 1,547,559,012 | ||||||
|
|
|
| |||||||
NET ASSETS CONSIST OF: | ||||||||||
Paid-in Capital | $ | 4,642,869,852 | $ | 1,527,698,419 | ||||||
Undistributed (distribution in excess of) net investment income (loss) | (886,792 | ) | 5,558,628 | |||||||
Accumulated net realized gain (loss) investments and foreign currency transactions | (374,069,154 | ) | (102,189,006 | ) | ||||||
Net unrealized appreciation (depreciation) on: | ||||||||||
Investments — unaffiliated issuers** | 90,168,813 | 116,467,421 | ||||||||
Foreign currency translations | 378,888 | 23,550 | ||||||||
|
|
|
| |||||||
NET ASSETS | $ | 4,358,461,607 | $ | 1,547,559,012 | ||||||
|
|
|
| |||||||
NET ASSET VALUE PER SHARE | ||||||||||
Net asset value per share | $ | 40.17 | $ | 38.50 | ||||||
|
|
|
| |||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 108,500,967 | 40,200,000 | ||||||||
|
|
|
| |||||||
COST OF INVESTMENTS: | ||||||||||
Investments in unaffiliated issuers | $ | 4,261,606,853 | $ | 1,415,744,425 | ||||||
Investments in affiliated issuers | 69,874,771 | 34,977,210 | ||||||||
|
|
|
| |||||||
Total cost of investments | $ | 4,331,481,624 | $ | 1,450,721,635 | ||||||
|
|
|
| |||||||
Foreign currency, at cost | $ | 2,195,189 | $ | 8,141,865 | ||||||
|
|
|
| |||||||
* Includes investments in securities on loan, at value | $ | 68,087,528 | $ | 67,362,665 | ||||||
|
|
|
| |||||||
** Includes deferred foreign taxes | $ | — | $ | 24,901 | ||||||
|
|
|
|
See accompanying notes to financial statements.
43
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF ASSETS AND LIABILITIES (continued)
March 31, 2018 (Unaudited)
SPDR S&P Emerging Markets Dividend ETF | SPDR S&P Emerging Markets Small Cap ETF | |||||||||
ASSETS | ||||||||||
Investments in unaffiliated issuers, at value* | $ | 484,877,901 | $ | 558,372,117 | ||||||
Investments in affiliated issuers, at value | 39,551,760 | 20,647,301 | ||||||||
|
|
|
| |||||||
Total Investments | 524,429,661 | 579,019,418 | ||||||||
Foreign currency, at value | 1,149,419 | 727,443 | ||||||||
Cash | — | 1,145 | ||||||||
Dividends receivable — unaffiliated issuers | 1,121,839 | 588,190 | ||||||||
Dividends receivable — affiliated issuers | 2,228 | 1,034 | ||||||||
Securities lending income receivable — unaffiliated issuers | 1,580 | 50,982 | ||||||||
Securities lending income receivable — affiliated issuers | 26,676 | 65,661 | ||||||||
Receivable for foreign taxes recoverable | 18,158 | — | ||||||||
|
|
|
| |||||||
TOTAL ASSETS | 526,749,561 | 580,453,873 | ||||||||
|
|
|
| |||||||
LIABILITIES | ||||||||||
Payable upon return of securities loaned | 38,837,851 | 19,823,794 | ||||||||
Advisory fee payable | 581,143 | 882,910 | ||||||||
Trustees’ fees and expenses payable | 506 | 722 | ||||||||
Accrued expenses and other liabilities | 5 | 6 | ||||||||
|
|
|
| |||||||
TOTAL LIABILITIES | 39,419,505 | 20,707,432 | ||||||||
|
|
|
| |||||||
NET ASSETS | $ | 487,330,056 | $ | 559,746,441 | ||||||
|
|
|
| |||||||
NET ASSETS CONSIST OF: | ||||||||||
Paid-in Capital | $ | 656,251,362 | $ | 642,223,722 | ||||||
Undistributed (distribution in excess of) net investment income (loss) | 836,098 | (846,625 | ) | |||||||
Accumulated net realized gain (loss) investments and foreign currency transactions | (234,373,379 | ) | (59,748,456 | ) | ||||||
Net unrealized appreciation (depreciation) on: | ||||||||||
Investments — unaffiliated issuers | 64,614,997 | (21,883,843 | ) | |||||||
Foreign currency translations | 978 | 1,643 | ||||||||
|
|
|
| |||||||
NET ASSETS | $ | 487,330,056 | $ | 559,746,441 | ||||||
|
|
|
| |||||||
NET ASSET VALUE PER SHARE | ||||||||||
Net asset value per share | $ | 35.06 | $ | 51.83 | ||||||
|
|
|
| |||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 13,900,000 | 10,800,000 | ||||||||
|
|
|
| |||||||
COST OF INVESTMENTS: | ||||||||||
Investments in unaffiliated issuers | $ | 420,262,904 | $ | 580,255,960 | ||||||
Investments in affiliated issuers | 39,551,760 | 20,647,301 | ||||||||
|
|
|
| |||||||
Total cost of investments | $ | 459,814,664 | $ | 600,903,261 | ||||||
|
|
|
| |||||||
Foreign currency, at cost | $ | 1,147,993 | $ | 725,192 | ||||||
|
|
|
| |||||||
* Includes investments in securities on loan, at value | $ | 37,897,145 | $ | 35,948,563 | ||||||
|
|
|
|
See accompanying notes to financial statements.
44
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF ASSETS AND LIABILITIES (continued)
March 31, 2018 (Unaudited)
SPDR S&P International Dividend ETF | SPDR STOXX Europe 50 ETF | |||||||
ASSETS | ||||||||
Investments in unaffiliated issuers, at value* | $ | 1,225,628,453 | $ | 226,316,415 | ||||
Investments in affiliated issuers, at value | 35,132,253 | 264,576 | ||||||
|
|
|
| |||||
Total Investments | 1,260,760,706 | 226,580,991 | ||||||
Foreign currency, at value | 2,622,755 | 485,427 | ||||||
Cash | 7 | — | ||||||
Dividends receivable — unaffiliated issuers | 2,916,291 | 814,455 | ||||||
Dividends receivable — affiliated issuers | 2,217 | 309 | ||||||
Securities lending income receivable — unaffiliated issuers | 55,574 | — | ||||||
Securities lending income receivable — affiliated issuers | 74,741 | 12 | ||||||
Receivable for foreign taxes recoverable | 568,958 | 353,131 | ||||||
|
|
|
| |||||
TOTAL ASSETS | 1,267,001,249 | 228,234,325 | ||||||
|
|
|
| |||||
LIABILITIES | ||||||||
Payable upon return of securities loaned | 33,995,826 | 101,922 | ||||||
Advisory fee payable | 1,420,784 | 200,189 | ||||||
Trustees’ fees and expenses payable | 2,085 | 388 | ||||||
Accrued expenses and other liabilities | 20 | — | ||||||
|
|
|
| |||||
TOTAL LIABILITIES | 35,418,715 | 302,499 | ||||||
|
|
|
| |||||
NET ASSETS | $ | 1,231,582,534 | $ | 227,931,826 | ||||
|
|
|
| |||||
NET ASSETS CONSIST OF: | ||||||||
Paid-in Capital | $ | 1,622,844,926 | $ | 284,457,678 | ||||
Undistributed (distribution in excess of) net investment income (loss) | 102,875 | 359,729 | ||||||
Accumulated net realized gain (loss) investments and foreign currency transactions | (418,882,051 | ) | (43,116,786 | ) | ||||
Net unrealized appreciation (depreciation) on: | ||||||||
Investments — unaffiliated issuers | 27,483,715 | (13,780,156 | ) | |||||
Foreign currency translations | 33,069 | 11,361 | ||||||
|
|
|
| |||||
NET ASSETS | $ | 1,231,582,534 | $ | 227,931,826 | ||||
|
|
|
| |||||
NET ASSET VALUE PER SHARE | ||||||||
Net asset value per share | $ | 39.92 | $ | 34.53 | ||||
|
|
|
| |||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 30,851,326 | 6,600,370 | ||||||
|
|
|
| |||||
COST OF INVESTMENTS: | ||||||||
Investments in unaffiliated issuers | $ | 1,198,144,738 | $ | 240,096,571 | ||||
Investments in affiliated issuers | 35,132,253 | 264,576 | ||||||
|
|
|
| |||||
Total cost of investments | $ | 1,233,276,991 | $ | 240,361,147 | ||||
|
|
|
| |||||
Foreign currency, at cost | $ | 2,624,002 | $ | 489,805 | ||||
|
|
|
| |||||
* Includes investments in securities on loan, at value | $ | 52,568,218 | $ | 91,479 | ||||
|
|
|
|
See accompanying notes to financial statements.
45
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS
For the Six Months Ended March 31, 2018 (Unaudited)
SPDR EURO STOXX 50 ETF | SPDR MSCI ACWI ex-US ETF | |||||||||
INVESTMENT INCOME | ||||||||||
Dividend income — unaffiliated issuers | $ | 27,704,750 | $ | 16,108,102 | ||||||
Dividend income — affiliated issuers | 7,045 | 13,344 | ||||||||
Dividend income — non-cash | 2,599,092 | 1,282,927 | ||||||||
Unaffiliated securities lending income | 68,724 | 54,966 | ||||||||
Affiliated securities lending income | 747,194 | 149,706 | ||||||||
Foreign taxes withheld | (4,038,982 | ) | (1,361,645 | ) | ||||||
|
|
|
| |||||||
TOTAL INVESTMENT INCOME (LOSS) | 27,087,823 | 16,247,400 | ||||||||
|
|
|
| |||||||
EXPENSES | ||||||||||
Advisory fee | 6,380,033 | 2,653,438 | ||||||||
Trustees’ fees and expenses | 35,727 | 12,675 | ||||||||
Miscellaneous expenses | 15,233 | 78 | ||||||||
|
|
|
| |||||||
TOTAL EXPENSES | 6,430,993 | 2,666,191 | ||||||||
|
|
|
| |||||||
Expenses waived/reimbursed by the Adviser | — | (324,922 | ) | |||||||
|
|
|
| |||||||
NET EXPENSES | 6,430,993 | 2,341,269 | ||||||||
|
|
|
| |||||||
NET INVESTMENT INCOME (LOSS) | 20,656,830 | 13,906,131 | ||||||||
|
|
|
| |||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||
Net realized gain (loss) on: | ||||||||||
Investments — unaffiliated issuers | (5,954,791 | ) | (1,297,505 | ) | ||||||
In-kind redemptions — unaffiliated issuers | 75,094,718 | 24,635,409 | ||||||||
Foreign currency transactions | 131,150 | 78,381 | ||||||||
|
|
|
| |||||||
Net realized gain (loss) | 69,271,077 | 23,416,285 | ||||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation on: | ||||||||||
Investments — unaffiliated issuers* | (195,224,055 | ) | 15,464,757 | |||||||
Foreign currency translations | 64,012 | 918 | ||||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation | (195,160,043 | ) | 15,465,675 | |||||||
|
|
|
| |||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (125,888,966 | ) | 38,881,960 | |||||||
|
|
|
| |||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | (105,232,136 | ) | $ | 52,788,091 | |||||
|
|
|
| |||||||
* Includes foreign deferred taxes | $ | — | $ | 115,360 | ||||||
|
|
|
|
See accompanying notes to financial statements.
46
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended March 31, 2018 (Unaudited)
SPDR S&P Emerging Markets Dividend ETF | SPDR S&P Emerging Markets Small Cap ETF | |||||||||
INVESTMENT INCOME | ||||||||||
Dividend income — unaffiliated issuers | $ | 4,173,409 | $ | 3,351,091 | ||||||
Dividend income — affiliated issuers | 4,679 | 6,544 | ||||||||
Dividend income — non-cash | 622,980 | — | ||||||||
Unaffiliated securities lending income | 11,324 | 285,428 | ||||||||
Affiliated securities lending income | 48,726 | 405,535 | ||||||||
Foreign taxes withheld | (491,443 | ) | (335,623 | ) | ||||||
|
|
|
| |||||||
TOTAL INVESTMENT INCOME (LOSS) | 4,369,675 | 3,712,975 | ||||||||
|
|
|
| |||||||
EXPENSES | ||||||||||
Advisory fee | 1,121,260 | 1,686,706 | ||||||||
Trustees’ fees and expenses | 3,675 | 4,173 | ||||||||
Miscellaneous expenses | 566 | 160 | ||||||||
|
|
|
| |||||||
TOTAL EXPENSES | 1,125,501 | 1,691,039 | ||||||||
|
|
|
| |||||||
NET INVESTMENT INCOME (LOSS) | 3,244,174 | 2,021,936 | ||||||||
|
|
|
| |||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||
Net realized gain (loss) on: | ||||||||||
Investments — unaffiliated issuers | 2,985,391 | 437,805 | ||||||||
In-kind redemptions — unaffiliated issuers | 3,014,659 | — | ||||||||
Foreign currency transactions | (57,682 | ) | 51,423 | |||||||
|
|
|
| |||||||
Net realized gain (loss) | 5,942,368 | 489,228 | ||||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation on: | ||||||||||
Investments — unaffiliated issuers | 60,550,067 | 29,510,950 | ||||||||
Foreign currency translations | 16,091 | 5,516 | ||||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation | 60,566,158 | 29,516,466 | ||||||||
|
|
|
| |||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) | 66,508,526 | 30,005,694 | ||||||||
|
|
|
| |||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | 69,752,700 | $ | 32,027,630 | ||||||
|
|
|
|
See accompanying notes to financial statements.
47
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended March 31, 2018 (Unaudited)
SPDR S&P International Dividend ETF | SPDR STOXX Europe 50 ETF | |||||||||
INVESTMENT INCOME | ||||||||||
Dividend income — unaffiliated issuers | $ | 17,723,186 | $ | 3,959,940 | ||||||
Dividend income — affiliated issuers | 8,869 | 820 | ||||||||
Dividend income — non-cash | 1,003,371 | — | ||||||||
Unaffiliated securities lending income | 79,279 | — | ||||||||
Affiliated securities lending income | 176,201 | 36,771 | ||||||||
Foreign taxes withheld | (1,495,186 | ) | (324,838 | ) | ||||||
|
|
|
| |||||||
TOTAL INVESTMENT INCOME (LOSS) | 17,495,720 | 3,672,693 | ||||||||
|
|
|
| |||||||
EXPENSES | ||||||||||
Advisory fee | 2,881,870 | 427,172 | ||||||||
Trustees’ fees and expenses | 11,096 | 2,522 | ||||||||
Miscellaneous expenses | 584 | 1,217 | ||||||||
|
|
|
| |||||||
TOTAL EXPENSES | 2,893,550 | 430,911 | ||||||||
|
|
|
| |||||||
NET INVESTMENT INCOME (LOSS) | 14,602,170 | 3,241,782 | ||||||||
|
|
|
| |||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||
Net realized gain (loss) on: | ||||||||||
Investments — unaffiliated issuers | 7,252,123 | (501,011 | ) | |||||||
In-kind redemptions — unaffiliated issuers | 3,931,487 | 10,005,763 | ||||||||
Foreign currency transactions | 27,834 | 36,446 | ||||||||
|
|
|
| |||||||
Net realized gain (loss) | 11,211,444 | 9,541,198 | ||||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation on: | ||||||||||
Investments — unaffiliated issuers | (15,897,951 | ) | (15,811,961 | ) | ||||||
Foreign currency translations | 70,310 | (5,201 | ) | |||||||
|
|
|
| |||||||
Net change in unrealized appreciation/depreciation | (15,827,641 | ) | (15,817,162 | ) | ||||||
|
|
|
| |||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (4,616,197 | ) | (6,275,964 | ) | ||||||
|
|
|
| |||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | 9,985,973 | $ | (3,034,182 | ) | |||||
|
|
|
|
See accompanying notes to financial statements.
48
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS
SPDR EURO STOXX 50 ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 20,656,830 | $ | 89,168,391 | ||||
Net realized gain (loss) | 69,271,077 | (47,488,563 | ) | |||||
Net change in unrealized appreciation/depreciation | (195,160,043 | ) | 767,645,429 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | (105,232,136 | ) | 809,325,257 | |||||
|
|
|
| |||||
Net equalization credits and charges | (47,711 | ) | 11,045,586 | |||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (21,543,622 | ) | (96,010,453 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | 320,267,379 | 1,783,480,945 | ||||||
Cost of shares redeemed | (390,697,072 | ) | (479,844,142 | ) | ||||
Net income equalization | 47,711 | (11,045,586 | ) | |||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | (70,381,982 | ) | 1,292,591,217 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | (197,205,451 | ) | 2,016,951,607 | |||||
|
|
|
| |||||
Net assets at beginning of period | 4,555,667,058 | 2,538,715,451 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 4,358,461,607 | $ | 4,555,667,058 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | (886,792 | ) | $ | — | |||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 7,700,000 | 46,900,000 | ||||||
Shares redeemed | (9,500,000 | ) | (14,100,000 | ) | ||||
|
|
|
| |||||
Net increase (decrease) | (1,800,000 | ) | 32,800,000 | |||||
|
|
|
|
See accompanying notes to financial statements.
49
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR MSCI ACWI ex-US ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 13,906,131 | $ | 30,530,226 | ||||
Net realized gain (loss) | 23,416,285 | (2,679,958 | ) | |||||
Net change in unrealized appreciation/depreciation | 15,465,675 | 194,915,268 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 52,788,091 | 222,765,536 | ||||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (17,865,746 | ) | (27,970,511 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | 123,202,349 | 419,780,280 | ||||||
Cost of shares redeemed | (72,460,933 | ) | — | |||||
Other capital | 120,679 | (99,689 | ) | |||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | 50,862,095 | 419,680,591 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | 85,784,440 | 614,475,616 | ||||||
|
|
|
| |||||
Net assets at beginning of period | 1,461,774,572 | 847,298,956 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 1,547,559,012 | $ | 1,461,774,572 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 5,558,628 | $ | 9,518,243 | ||||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 3,200,000 | 12,600,000 | ||||||
Shares redeemed | (1,800,000 | ) | — | |||||
|
|
|
| |||||
Net increase (decrease) | 1,400,000 | 12,600,000 | ||||||
|
|
|
|
See accompanying notes to financial statements.
50
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P Emerging Markets Dividend ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 3,244,174 | $ | 14,349,782 | ||||
Net realized gain (loss) | 5,942,368 | 28,726,180 | ||||||
Net change in unrealized appreciation/depreciation | 60,566,158 | 3,575,929 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 69,752,700 | 46,651,891 | ||||||
|
|
|
| |||||
Net equalization credits and charges | 42,311 | 447,960 | ||||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (3,436,133 | ) | (13,211,413 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | 21,595,993 | 95,845,524 | ||||||
Cost of shares redeemed | (23,458,636 | ) | (6,518,090 | ) | ||||
Net income equalization | (42,311 | ) | (447,960 | ) | ||||
Other capital | 18,545 | 47,441 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | (1,886,409 | ) | 88,926,915 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | 64,472,469 | 122,815,353 | ||||||
|
|
|
| |||||
Net assets at beginning of period | 422,857,587 | �� | 300,042,234 | |||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 487,330,056 | $ | 422,857,587 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 836,098 | $ | 1,028,057 | ||||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 650,000 | 3,250,000 | ||||||
Shares redeemed | (700,000 | ) | (250,000 | ) | ||||
|
|
|
| |||||
Net increase (decrease) | (50,000 | ) | 3,000,000 | |||||
|
|
|
|
See accompanying notes to financial statements.
51
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P Emerging Markets Small Cap ETF | ||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||
Net investment income (loss) | $ | 2,021,936 | $ | 9,287,724 | ||||||
Net realized gain (loss) | 489,228 | 20,776,592 | ||||||||
Net change in unrealized appreciation/depreciation | 29,516,466 | 37,278,832 | ||||||||
|
|
|
| |||||||
Net increase (decrease) in net assets resulting from operations | 32,027,630 | 67,343,148 | ||||||||
|
|
|
| |||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||
Net investment income | (10,065,060 | ) | (8,720,849 | ) | ||||||
|
|
|
| |||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||
Proceeds from sale of shares sold | 58,400,001 | 133,120,554 | ||||||||
Cost of shares redeemed | — | (33,210,110 | ) | |||||||
Other capital | 45,489 | 249,509 | ||||||||
|
|
|
| |||||||
Net increase (decrease) in net assets from beneficial interest transactions | 58,445,490 | 100,159,953 | ||||||||
|
|
|
| |||||||
Net increase (decrease) in net assets during the period | 80,408,060 | 158,782,252 | ||||||||
|
|
|
| |||||||
Net assets at beginning of period | 479,338,381 | 320,556,129 | ||||||||
|
|
|
| |||||||
NET ASSETS AT END OF PERIOD | $ | 559,746,441 | $ | 479,338,381 | ||||||
|
|
|
| |||||||
Undistributed (distribution in excess of) net investment income (loss) | $ | (846,625 | ) | $ | 7,196,499 | |||||
|
|
|
| |||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||
Shares sold | 1,100,000 | 3,000,000 | ||||||||
Shares redeemed | — | (800,000 | ) | |||||||
|
|
|
| |||||||
Net increase (decrease) | 1,100,000 | 2,200,000 | ||||||||
|
|
|
|
See accompanying notes to financial statements.
52
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P International Dividend ETF | ||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||
Net investment income (loss) | $ | 14,602,170 | $ | 44,330,093 | ||||||
Net realized gain (loss) | 11,211,444 | 77,464,040 | ||||||||
Net change in unrealized appreciation/depreciation | (15,827,641 | ) | 45,336,374 | |||||||
|
|
|
| |||||||
Net increase (decrease) in net assets resulting from operations | 9,985,973 | 167,130,507 | ||||||||
|
|
|
| |||||||
Net equalization credits and charges | (28,977 | ) | (211,475 | ) | ||||||
|
|
|
| |||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||
Net investment income | (19,834,326 | ) | (58,780,820 | ) | ||||||
|
|
|
| |||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||
Proceeds from sale of shares sold | 36,351,454 | 226,668,368 | ||||||||
Cost of shares redeemed | (46,882,129 | ) | (93,577,293 | ) | ||||||
Net income equalization | 28,977 | 211,475 | ||||||||
Other capital | — | 12,771 | ||||||||
|
|
|
| |||||||
Net increase (decrease) in net assets from beneficial interest transactions | (10,501,698 | ) | 133,315,321 | |||||||
|
|
|
| |||||||
Net increase (decrease) in net assets during the period | (20,379,028 | ) | 241,453,533 | |||||||
|
|
|
| |||||||
Net assets at beginning of period | 1,251,961,562 | 1,010,508,029 | ||||||||
|
|
|
| |||||||
NET ASSETS AT END OF PERIOD | $ | 1,231,582,534 | $ | 1,251,961,562 | ||||||
|
|
|
| |||||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 102,875 | $ | 5,335,031 | ||||||
|
|
|
| |||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||
Shares sold | 900,000 | 5,950,000 | ||||||||
Shares redeemed | (1,150,000 | ) | (2,450,000 | ) | ||||||
|
|
|
| |||||||
Net increase (decrease) | (250,000 | ) | 3,500,000 | |||||||
|
|
|
|
See accompanying notes to financial statements.
53
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR STOXX Europe 50 ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 3,241,782 | $ | 6,456,978 | ||||
Net realized gain (loss) | 9,541,198 | (5,560,708 | ) | |||||
Net change in unrealized appreciation/depreciation | (15,817,162 | ) | 39,673,053 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | (3,034,182 | ) | 40,569,323 | |||||
|
|
|
| |||||
Net equalization credits and charges | (298,771 | ) | 837,646 | |||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (2,882,053 | ) | (7,278,371 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | — | 115,916,959 | ||||||
Cost of shares redeemed | (83,816,536 | ) | (17,804,866 | ) | ||||
Net income equalization | 298,771 | (837,646 | ) | |||||
Other capital | — | 41,867 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | (83,517,765 | ) | 97,316,314 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | (89,732,771 | ) | 131,444,912 | |||||
|
|
|
| |||||
Net assets at beginning of period | 317,664,597 | 186,219,685 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 227,931,826 | $ | 317,664,597 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 359,729 | $ | — | ||||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | — | 3,400,000 | ||||||
Shares redeemed | (2,350,000 | ) | (600,000 | ) | ||||
|
|
|
| |||||
Net increase (decrease) | (2,350,000 | ) | 2,800,000 | |||||
|
|
|
|
See accompanying notes to financial statements.
54
Table of Contents
SPDR INDEX SHARES FUNDS
Selected data for a share outstanding throughout each period
SPDR EURO STOXX 50 ETF | ||||||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||||||||
Net asset value, beginning of period | $ | 41.30 | $ | 32.76 | $ | 33.77 | $ | 39.88 | $ | 38.33 | $ | 30.96 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||
Net investment income (loss) (a) | 0.19 | 1.04 | 1.05 | 1.20 | 1.32 | 1.19 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | (1.12 | ) | 8.34 | (0.83 | ) | (6.11 | ) | 1.46 | 7.19 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total from investment operations | (0.93 | ) | 9.38 | 0.22 | (4.91 | ) | 2.78 | 8.38 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net equalization credits and charges (a) | (0.00 | )(c) | 0.13 | (0.06 | ) | (0.01 | ) | 0.06 | 0.13 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||
Net investment income | (0.20 | ) | (0.97 | ) | (1.17 | ) | (1.19 | ) | (1.29 | ) | (1.14 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net asset value, end of period | $ | 40.17 | $ | 41.30 | $ | 32.76 | $ | 33.77 | $ | 39.88 | $ | 38.33 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total return (d) | (2.25 | )% | 29.30 | % | 0.62 | % | (12.60 | )% | 7.20 | % | 28.10 | %(e) | ||||||||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 4,358,462 | $ | 4,555,667 | $ | 2,538,715 | $ | 4,044,421 | $ | 4,949,488 | $ | 3,285,263 | ||||||||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||||||||
Total expenses | 0.29 | %(f) | 0.29 | % | 0.29 | % | 0.29 | % | 0.29 | % | 0.29 | % | ||||||||||||||||||
Net investment income (loss) | 0.94 | %(f) | 2.83 | % | 3.13 | % | 3.16 | % | 3.16 | % | 3.43 | % | ||||||||||||||||||
Portfolio turnover rate (g) | 1 | %(h) | 4 | % | 7 | % | 6 | % | 6 | % | 8 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | If the Adviser had not made a contribution during the period ended September 30, 2013, the total return would have remained 28.10%. |
(f) | Annualized. |
(g) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(h) | Not annualized. |
See accompanying notes to financial statements.
55
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI ACWI ex-US ETF | ||||||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||||||||
Net asset value, beginning of period | $ | 37.67 | $ | 32.34 | $ | 30.31 | $ | 35.09 | $ | 34.29 | $ | 30.49 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||
Net investment income (loss) (a) | 0.35 | 0.90 | 0.87 | 0.94 | 1.17 | 0.90 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 0.92 | 5.22 | 2.00 | (4.92 | ) | 0.72 | 3.88 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total from investment operations | 1.27 | 6.12 | 2.87 | (3.98 | ) | 1.89 | 4.78 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Other capital | 0.00 | (c) | (0.00 | )(c) | — | — | — | — | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||
Net investment income | (0.44 | ) | (0.79 | ) | (0.84 | ) | (0.80 | ) | (1.09 | ) | (0.98 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net asset value, end of period | $ | 38.50 | $ | 37.67 | $ | 32.34 | $ | 30.31 | $ | 35.09 | $ | 34.29 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total return (d) | 3.33 | % | 19.24 | % | 9.66 | % | (11.58 | )% | 5.43 | % | 15.96 | % | ||||||||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 1,547,559 | $ | 1,461,775 | $ | 847,299 | $ | 715,311 | $ | 575,494 | $ | 493,824 | ||||||||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||||||||
Total expenses | 0.34 | %(e) | 0.34 | % | 0.34 | % | 0.34 | % | 0.35 | % | 0.34 | % | ||||||||||||||||||
Net expenses | 0.30 | %(e) | 0.30 | % | 0.30 | % | 0.32 | % | 0.35 | % | 0.34 | % | ||||||||||||||||||
Net investment income (loss) | 1.78 | %(e) | 2.62 | % | 2.80 | % | 2.74 | % | 3.25 | % | 2.76 | % | ||||||||||||||||||
Portfolio turnover rate (f) | 0 | %(g)(h) | 3 | % | 7 | % | 8 | % | 3 | % | 2 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Amount is less than 0.005%. |
(h) | Not annualized. |
See accompanying notes to financial statements.
56
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Emerging Markets Dividend ETF | ||||||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||||||||
Net asset value, beginning of period | $ | 30.31 | $ | 27.40 | $ | 25.06 | $ | 36.66 | $ | 40.34 | $ | 43.70 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||
Net investment income (loss) (a) | 0.23 | 1.18 | 1.28 | 1.44 | 1.77 | 2.45 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 4.76 | 2.70 | 2.29 | (11.68 | ) | (3.86 | ) | (3.87 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total from investment operations | 4.99 | 3.88 | 3.57 | (10.24 | ) | (2.09 | ) | (1.42 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net equalization credits and charges (a) | 0.00 | (c) | 0.04 | 0.04 | (0.03 | ) | 0.04 | 0.09 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Other capital | 0.00 | (c) | 0.00 | (c) | 0.02 | 0.01 | 0.01 | 0.05 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||
Net investment income | (0.24 | ) | (1.01 | ) | (1.29 | ) | (1.34 | ) | (1.64 | ) | (2.08 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net asset value, end of period | $ | 35.06 | $ | 30.31 | $ | 27.40 | $ | 25.06 | $ | 36.66 | $ | 40.34 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total return (d) | 16.49 | % | 14.47 | % | 14.70 | % | (28.56 | )% | (5.16 | )% | (2.80 | )% | ||||||||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 487,330 | $ | 422,858 | $ | 300,042 | $ | 298,163 | $ | 491,217 | $ | 538,651 | ||||||||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||||||||
Total expenses | 0.49 | %(e) | 0.49 | % | 0.49 | % | 0.53 | % | 0.59 | % | 0.60 | % | ||||||||||||||||||
Net investment income (loss) | 1.42 | %(e) | 4.05 | % | 4.91 | % | 4.32 | % | 4.50 | % | 5.71 | % | ||||||||||||||||||
Portfolio turnover rate (f) | 12 | %(g) | 123 | % | 48 | % | 78 | % | 67 | % | 85 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
See accompanying notes to financial statements.
57
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Emerging Markets Small Cap ETF | ||||||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||||||||
Net asset value, beginning of period | $ | 49.42 | $ | 42.74 | $ | 37.00 | $ | 48.31 | $ | 46.15 | $ | 44.43 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||
Net investment income (loss) (a) | 0.20 | 1.04 | 0.89 | 1.01 | 1.01 | 0.95 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 3.25 | 6.61 | 5.84 | (11.19 | ) | 2.11 | 1.81 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total from investment operations | 3.45 | 7.65 | 6.73 | (10.18 | ) | 3.12 | 2.76 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net equalization credits and charges (a) | — | — | — | 0.00 | (c) | — | — | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Other capital | 0.00 | (c) | 0.03 | 0.04 | 0.04 | 0.05 | 0.03 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||
Net investment income | (1.04 | ) | (1.00 | ) | (1.03 | ) | (1.17 | ) | (1.01 | ) | (1.07 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net asset value, end of period | $ | 51.83 | $ | 49.42 | $ | 42.74 | $ | 37.00 | $ | 48.31 | $ | 46.15 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total return (d) | 6.98 | % | 18.46 | % | 18.67 | % | (21.38 | )% | 6.90 | % | 6.29 | %(e) | ||||||||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 559,746 | $ | 479,338 | $ | 320,556 | $ | 373,681 | $ | 570,082 | $ | 761,466 | ||||||||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||||||||
Total expenses | 0.65 | %(f) | 0.65 | % | 0.65 | % | 0.65 | % | 0.65 | % | 0.65 | % | ||||||||||||||||||
Net investment income (loss) | 0.78 | %(f) | 2.30 | % | 2.29 | % | 2.26 | % | 2.10 | % | 2.05 | % | ||||||||||||||||||
Portfolio turnover rate (g) | 2 | %(h) | 34 | % | 19 | % | 12 | % | 23 | % | 18 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | If the Adviser had not made a contribution during the period ended September 30, 2013, the total return would have been 6.29%. |
(f) | Annualized. |
(g) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(h) | Not annualized. |
See accompanying notes to financial statements.
58
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P International Dividend ETF | ||||||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||||||||
Net asset value, beginning of period | $ | 40.25 | $ | 36.61 | $ | 33.95 | $ | 46.33 | $ | 46.60 | $ | 45.27 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||
Net investment income (loss) (a) | 0.46 | 1.51 | 1.68 | 2.05 | 2.41 | 3.27 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | (0.16 | ) | 4.13 | 2.56 | (12.36 | ) | (0.29 | ) | 1.20 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total from investment operations | 0.30 | 5.64 | 4.24 | (10.31 | ) | 2.12 | 4.47 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net equalization credits and charges (a) | (0.00 | )(c) | (0.01 | ) | 0.05 | (0.01 | ) | 0.03 | 0.00 | (c) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Other capital | — | 0.00 | (c) | — | — | — | — | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||
Net investment income | (0.63 | ) | (1.99 | ) | (1.63 | ) | (2.06 | ) | (2.42 | ) | (3.14 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net asset value, end of period | $ | 39.92 | $ | 40.25 | $ | 36.61 | $ | 33.95 | $ | 46.33 | $ | 46.60 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total return (d) | 0.71 | % | 15.84 | % | 12.98 | % | (22.86 | )% | 4.43 | % | 10.24 | % | ||||||||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 1,231,583 | $ | 1,251,962 | $ | 1,010,508 | $ | 974,416 | $ | 1,450,114 | $ | 1,304,826 | ||||||||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||||||||
Total expenses | 0.45 | %(e) | 0.45 | % | 0.45 | % | 0.46 | % | 0.46 | % | 0.45 | % | ||||||||||||||||||
Net investment income (loss) | 2.28 | %(e) | 3.95 | % | 4.81 | % | 4.84 | % | 4.96 | % | 6.97 | % | ||||||||||||||||||
Portfolio turnover rate (f) | 7 | %(g) | 122 | % | 39 | % | 76 | % | 62 | % | 121 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
See accompanying notes to financial statements.
59
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR STOXX Europe 50 ETF | ||||||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||||||||
Net asset value, beginning of period | $ | 35.49 | $ | 30.28 | $ | 31.54 | $ | 36.86 | $ | 36.47 | $ | 31.50 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||
Net investment income (loss) (a) | 0.39 | 0.95 | 1.10 | 1.23 | 2.03 | (b) | 1.19 | |||||||||||||||||||||||
Net realized and unrealized gain (loss) (c) | (0.92 | ) | 5.14 | (1.21 | ) | (5.37 | ) | 0.22 | 4.84 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total from investment operations | (0.53 | ) | 6.09 | (0.11 | ) | (4.14 | ) | 2.25 | 6.03 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net equalization credits and charges (a) | (0.04 | ) | 0.12 | (0.04 | ) | 0.04 | 0.11 | 0.13 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Other capital | — | 0.01 | — | — | — | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||
Net investment income | (0.39 | ) | (1.01 | ) | (1.11 | ) | (1.22 | ) | (1.97 | ) | (1.19 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net asset value, end of period | $ | 34.53 | $ | 35.49 | $ | 30.28 | $ | 31.54 | $ | 36.86 | $ | 36.47 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total return (d) | (1.60 | )% | 20.83 | % | (0.42 | )% | (11.36 | )% | 6.33 | %(b) | 19.94 | %(e) | ||||||||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 227,932 | $ | 317,665 | $ | 186,220 | $ | 247,626 | $ | 261,730 | $ | 109,419 | ||||||||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||||||||
Total expenses | 0.29 | %(f) | 0.29 | % | 0.29 | % | 0.29 | % | 0.29 | % | 0.29 | % | ||||||||||||||||||
Net investment income (loss) | 2.20 | %(f) | 2.92 | % | 3.57 | % | 3.50 | % | 5.28 | %(b) | 3.47 | % | ||||||||||||||||||
Portfolio turnover rate (g) | 1 | %(h) | 8 | % | 8 | % | 9 | % | 9 | % | 12 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | Net investment income per share and ratio of net investment income to average net assets reflect receipt of special dividends from portfolio holdings. The resulting increase to net investment income amounted to $0.76 per share and 1.96% of average net assets. If the special dividends were not received during the year ended September 30, 2014, the total return would have been 4.56%. |
(c) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | If the Adviser had not made a contribution during the period ended September 30, 2013, the total return would have been 19.93%. |
(f) | Annualized. |
(g) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(h) | Not annualized. |
See accompanying notes to financial statements.
60
Table of Contents
SPDR INDEX SHARES FUNDS
March 31, 2018 (Unaudited)
1. | Organization |
SPDR Index Shares Funds (the “Trust”), a Massachusetts business trust, registered under the Investment Company Act of 1940, as amended (“1940 Act”), is an open-end management investment company.
As of March 31, 2018, the Trust consists of thirty (30) series, each of which represents a separate series of beneficial interest in the Trust. The Declaration of Trust permits the Board of Trustees of the Trust (the “Board”) to authorize the issuance of an unlimited number of shares of beneficial interest at $0.01 par value. The financial statements herein relate to the following series (each a “Fund”, and collectively, the “Funds”):
SPDR EURO STOXX 50 ETF
SPDR MSCI ACWI ex-US ETF
SPDR S&P Emerging Markets Dividend ETF
SPDR S&P Emerging Markets Small Cap ETF
SPDR S&P International Dividend ETF
SPDR STOXX Europe 50 ETF
Each Fund is classified as a non-diversified investment company under the 1940 Act.
Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.
2. | Summary of Significant Accounting Policies |
The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements:
The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies.
61
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
Security Valuation
Each Fund’s investments are valued at fair value each day that the New York Stock Exchange (“NYSE”) is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the NYSE is not open. Fair value is generally defined as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. By its nature, a fair value price is a good faith estimate of the valuation in a current sale and may not reflect an actual market price. The investments of each Fund are valued pursuant to the policy and procedures developed by the Oversight Committee (the “Committee”) and approved by the Board. The Committee provides oversight of the valuation of investments for the Funds. The Board has responsibility for determining the fair value of investments.
Valuation techniques used to value each Fund’s investments by major category are as follows:
• | Equity investments traded on a recognized securities exchange for which market quotations are readily available are valued at the last sale price or official closing price, as applicable, on the primary market or exchange on which they trade. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last published sale price or at fair value. |
• | Investments in registered investment companies (including money market funds) or other unitized pooled investment vehicles that are not traded on an exchange are valued at that day’s published net asset value (“NAV”) per share or unit. |
In the event prices or quotations are not readily available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with the valuation policy and procedures approved by the Board.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Funds’ underlying benchmarks. Various inputs are used in determining the value of the Funds’ investments.
The Funds value their assets and liabilities at fair value using a fair value hierarchy consisting of three broad levels that prioritize the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The categorization of a value determined for an investment within
62
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
the hierarchy is based upon the pricing transparency of the investment and is not necessarily an indication of the risk associated with investing in it.
The three levels of the fair value hierarchy are as follows:
• | Level 1 – Unadjusted quoted prices in active markets for an identical asset or liability; |
• | Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and |
• | Level 3 – Unobservable inputs for the asset or liability, including the Committee’s assumptions used in determining the fair value of investments. |
The value of each Fund’s investments according to the fair value hierarchy as of March 31, 2018, is disclosed in each Fund’s respective Schedule of Investments.
Changes in valuation techniques may result in transfers in or out of an assigned level within the fair value hierarchy. Transfers between different levels of the fair value hierarchy are recognized at the end of the reporting period. The SPDR S&P Emerging Markets Dividend ETF and SPDR S&P International Dividend ETF had transfers of securities from Level 1 to Level 2 during the period ended March 31, 2018 in the amounts of $12,032,994 and $15,350,869, respectively. At March 31, 2018, these investments were valued using alternative valuation procedures under the valuation policy and procedures adopted by the Board. At September 30, 2017, these investments were valued at exchange closing prices in accordance with the Fund’s valuation policy.
Investment Transactions and Income Recognition
Investment transactions are accounted for on trade date for financial reporting purposes. Realized gains and losses from the sale or disposition of investments and foreign exchange transactions, if any, are determined using the identified cost method.
Dividend income and capital gain distributions, if any, are recognized on the ex-dividend date, net of any foreign taxes withheld at source, if any. Non-cash dividends received in the form of stock, if any, are recorded as dividend income at fair value. Distributions received by the Funds may include a return of capital that is estimated by management. Such amounts are recorded as a reduction of the cost of investments or reclassified to capital gains.
63
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
Certain Funds invest in real estate investment trusts (“REITs”). REITs determine the tax character of their distributions annually and may characterize a portion of their distributions as a return of capital or capital gain. The Funds’ policy is to record all REIT distributions initially as dividend income and re-designate the prior calendar year’s to return of capital or capital gain distributions at year end based on information provided by the REIT and/or SSGA Funds Management, Inc.’s (the “Adviser” or “SSGA FM”) estimates of such re-designations for which actual information has not yet been reported.
Expenses
Certain expenses, which are directly identifiable to a specific Fund, are applied to that Fund within the Trust. Other expenses which cannot be attributed to a specific Fund are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative net assets of the Funds within the Trust.
Foreign Currency Translation
The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies as well as investment securities and other assets and liabilities denominated in a foreign currency are translated to U.S. dollars using exchange rates at period end. Purchases and sales of securities, income receipts and expense payments denominated in foreign currencies are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions.
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
Foreign Taxes
The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with SSGA FM’s understanding of the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in the Statements of Operations, if applicable. Foreign taxes payable or deferred as of March 31, 2018, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
64
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
Equalization
Certain Funds in the Trust follow the accounting practice known as “Equalization” by which a portion of the proceeds from sales and costs of reacquiring Fund shares, equivalent on a per share basis to the amount of distributable net investment income on the date of the transaction, is credited or charged to undistributed net investment income. As a result, undistributed net investment income per share is unaffected by sales or reacquisition of Fund shares. Amounts related to Equalization can be found on the Statements of Changes in Net Assets.
The following Funds utilized equalization during the period ended March 31, 2018:
SPDR EURO STOXX 50 ETF
SPDR S&P Emerging Markets Dividend ETF
SPDR S&P International Dividend ETF
SPDR STOXX Europe 50 ETF
Distributions
The SPDR EURO STOXX 50 ETF, SPDR S&P Emerging Markets Dividend ETF, SPDR S&P International Dividend ETF, and the SPDR STOXX Europe 50 ETF declare and distribute from net investment income, if any, to their shareholders quarterly. The SPDR MSCI ACWI Ex-US ETF and the SPDR S&P Emerging Markets Small Cap ETF declare and distribute from net investment income, if any, to their shareholders semi-annually.
Net realized capital gains, if any, are distributed annually. Dividends may be declared and paid more frequently or at any other times to improve index tracking or to comply with the distribution requirements of the Internal Revenue Code. The amount and character of income and capital gains to be distributed are determined in accordance with applicable tax regulations which may differ from net investment income and realized gains recognized for U.S. GAAP purposes.
3. | Fees and Transactions with Affiliates |
Advisory Fee
The Trust, on behalf of each Fund, has entered into an Investment Advisory Agreement (the “Agreement” ) with SSGA FM. For its advisory services to the Funds, facilities furnished, and expenses borne by the Adviser, each Fund pays the Adviser a fee accrued
65
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
daily and paid quarterly, based on a percentage of each Fund’s average daily net assets as shown in the following table:
Annual Rate | |||||
SPDR EURO STOXX 50 ETF | 0.29 | % | |||
SPDR MSCI ACWI ex-US ETF | 0.34 | ||||
SPDR S&P Emerging Markets Dividend ETF | 0.49 | ||||
SPDR S&P Emerging Markets Small Cap ETF | 0.65 | ||||
SPDR S&P International Dividend ETF | 0.45 | ||||
SPDR STOXX Europe 50 ETF | 0.29 |
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 expenses, taxes, interest, the fees and expenses of the Independent Trustees (including any Trustees’ counsel fees), litigation expenses, acquired fund fees and expenses and other extraordinary expenses.
The Adviser has contractually agreed to waive its advisory fee and reimburse certain expenses, until January 31, 2019, so that the net annual Fund operating expenses of the SPDR MSCI ACWI ex-US ETF will be limited to 0.30% of the Fund’s average daily net assets before application of any fees and expenses not paid by the Adviser under the Investment Advisory Agreement. Such fees and expenses paid by the Adviser are limited to certain direct operating expenses of the Fund and, therefore, do not include the Fund’s acquired fund fees and expenses, if any. The contractual fee waiver does not provide for the recoupment by the Adviser of any fees the Adviser previously waived. The Adviser may continue the waiver from year to year, but there is no guarantee that the Adviser will do so and after January 31, 2019, the waiver may be cancelled or modified at any time. The waiver and/or reimbursement may not be terminated prior to January 31, 2019 except with the approval of the Board. For the period ended March 31, 2018, SPDR MSCI ACWI ex-US ETF waived $324,922.
Administrator, Custodian, Sub-Administrator and Transfer Agent Fees
SSGA FM serves as administrator and State Street Bank and Trust Company (“State Street”), an affiliate of the Adviser, serves as custodian, sub-administrator and transfer agent. State Street receives fees for its services as custodian, sub-administrator and transfer agent from the Adviser.
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NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
Distributor
State Street Global Advisors Funds Distributors, LLC (“SSGA FD” or the “Distributor”), an affiliate of the Adviser, serves as the Distributor of the Trust.
Other Transactions with Affiliates - Securities Lending
State Street, an affiliate of the Funds, acts as the securities lending agent for the Funds, pursuant to an amended and restated securities lending authorization agreement dated January 6, 2017.
Proceeds collected by State Street on investment of cash collateral or any fee income are allocated as follows (after deduction of such other amounts payable to State Street under the terms of the securities lending agreement): 85% payable to the Fund, and 15% payable to State Street.
In addition, cash collateral from lending activities is invested in the State Street Navigator Securities Lending Government Money Market Portfolio, an affiliated money market fund, for which SSGA FM serves as investment adviser. See Note 8 for additional information regarding securities lending.
Other Transactions with Affiliates
The Funds may invest in affiliated entities, including securities issued by State Street Corporation, affiliated funds, or entities deemed to be affiliates as a result of the Funds owning more than five percent of the entity’s voting securities or outstanding shares. Amounts relating to these transactions during the period ended March 31, 2018, are disclosed in the Schedules of Investments.
4. | Trustees’ Fees |
The fees and expenses of the Trust’s trustees, who are not “interested persons” of the Trust, as defined in the 1940 Act (“Independent Trustees”), are paid directly by the Funds. The Independent Trustees are reimbursed for travel and other out-of-pocket expenses in connection with meeting attendance and industry seminars.
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NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
5. | Investment Transactions |
Purchases and sales of investments (excluding in-kind transactions, short term investments and derivative contracts) for the period ended March 31, 2018, were as follows:
Purchases | Sales | |||||||
SPDR EURO STOXX 50 ETF | $ | 40,910,151 | $ | 42,943,899 | ||||
SPDR MSCI ACWI ex-US ETF | 7,499,500 | 12,738,715 | ||||||
SPDR S&P Emerging Markets Dividend ETF | 54,805,503 | 56,455,634 | ||||||
SPDR S&P Emerging Markets Small Cap ETF | 38,281,438 | 12,082,726 | ||||||
SPDR S&P International Dividend ETF | 91,751,697 | 96,715,359 | ||||||
SPDR STOXX Europe 50 ETF | 3,090,743 | 4,309,645 |
For the period ended March 31, 2018, the following Funds had in-kind contributions, redemptions and net realized gains/losses in the amounts as follows:
In-kind Contributions | In-kind Redemptions | In-kind Net Realized Gains/(Losses) | |||||||||||||
SPDR EURO STOXX 50 ETF | $ | 320,239,585 | $ | 390,199,496 | $ | 75,094,718 | |||||||||
SPDR MSCI ACWI ex-US ETF | 113,624,393 | 66,779,349 | 24,635,409 | ||||||||||||
SPDR S&P Emerging Markets Dividend ETF | 14,211,018 | 15,799,959 | 3,014,659 | ||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | 23,637,671 | — | — | ||||||||||||
SPDR S&P International Dividend ETF | 33,392,784 | 43,562,199 | 3,931,487 | ||||||||||||
SPDR STOXX Europe 50 ETF | — | 82,987,888 | 10,005,763 |
6. | Shareholder Transactions |
Each Fund issues and redeems its shares, at NAV, by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”). Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets.
The consideration for the purchase of Creation Units of a Fund may consist of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to the Trust and/or custodian, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. An additional variable fee may be charged for
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
certain transactions. Such variable charges, if any, are included in “Other Capital” on the Statements of Changes on Net Assets.
7. | Income Tax Information |
The Funds have qualified and intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code of 1986, as amended. Each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. Therefore, no provision for federal income tax is required.
The Funds file federal and various state and local tax returns as required. No income tax returns are currently under examination. Generally, the federal returns are subject to examination by the Internal Revenue Service for a period of three years from date of filing, while the state returns may remain open for an additional year depending upon jurisdiction. As of September 30, 2017, SSGA FM has analyzed each Fund’s tax positions taken on tax returns for all open years and does not believe there are any uncertain tax positions that would require recognition of a tax liability.
Distributions to shareholders are recorded on ex-dividend date. Income dividends and gain distributions are determined in accordance with income tax rules and regulations, which may differ from generally accepted accounting principles.
As of March 31, 2018, gross unrealized appreciation and gross unrealized depreciation of investments based on cost for federal income tax purposes were as follows:
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |||||||||||||||||
SPDR EURO STOXX 50 ETF | $ | 4,334,026,565 | $ | 354,858,736 | $ | 267,234,864 | $ | 87,623,872 | ||||||||||||
SPDR MSCI ACWI ex-US ETF | 1,456,112,439 | 227,983,943 | 116,882,425 | 111,101,518 | ||||||||||||||||
SPDR S&P Emerging Markets Dividend ETF | 460,743,413 | 76,151,111 | 12,464,863 | 63,686,248 | ||||||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | 604,844,591 | 89,963,009 | 115,788,182 | (25,825,173 | ) | |||||||||||||||
SPDR S&P International Dividend ETF | 1,235,535,869 | 82,313,364 | 57,088,527 | 25,224,837 | ||||||||||||||||
SPDR STOXX Europe 50 ETF | 241,015,440 | 9,668,690 | 24,103,139 | (14,434,449 | ) |
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
8. | Securities Lending |
Each Fund may lend securities to qualified broker-dealers or institutional investors. The loans are secured at all times by cash, cash equivalents or U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. The value of the collateral with respect to a loaned security may be temporarily more or less than the value of a security due to market fluctuations of securities values. With respect to each loan, if on any U.S. business day the aggregate market value of securities collateral plus cash collateral is less than the aggregate market value of the securities which are subject to the loan, the borrower will be notified to provide additional collateral on the next business day.
The Funds will regain record ownership of loaned securities to exercise certain beneficial rights; however, the Funds may bear the risk of delay in recovery of, or even loss of rights in the securities loaned should the borrower fail financially. In addition, a Fund will bear the risk of loss of any cash collateral that it may invest. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash, cash equivalents or U.S. government securities held as collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as the lending agent. Additionally, a Fund will receive a fee from the borrower for non-cash collateral equal to a percentage of the market value of the loaned securities.
The market value of securities on loan as of March 31, 2018, and the value of the invested cash collateral are disclosed in the Funds’ Statements of Assets and Liabilities. Non-cash collateral is not disclosed in the Funds’ Statements of Assets and Liabilities as it is held by the lending agent on behalf of the Funds, and the Funds do not have the ability to re-hypothecate those securities. Securities lending income, as disclosed in the Funds’ Statements of Operations, represents the income earned from the non-cash collateral and the investment of cash collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent.
The following is a summary of each Fund’s securities lending agreements and related cash and non-cash collateral received as of March 31, 2018:
Fund | Market Value of Securities on Loan | Cash Collateral Received | Non Cash Collateral Received* | Total Collateral Received | ||||||||||||||||
SPDR EURO STOXX 50 ETF | $ | 68,087,528 | $ | 69,782,046 | $ | 213,723 | $ | 69,995,769 | ||||||||||||
SPDR MSCI ACWI ex-US ETF | 67,362,665 | 32,639,102 | 37,399,888 | 70,038,990 |
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
Fund | Market Value of Securities on Loan | Cash Collateral Received | Non Cash Collateral Received* | Total Collateral Received | ||||||||||||||||
SPDR S&P Emerging Markets Dividend ETF | $ | 37,897,145 | $ | 38,837,851 | $ | 843,463 | $ | 39,681,314 | ||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | 35,948,563 | 19,823,794 | 19,566,899 | 39,390,693 | ||||||||||||||||
SPDR S&P International Dividend ETF | 52,568,218 | 33,995,826 | 21,099,655 | 55,095,481 | ||||||||||||||||
SPDR STOXX Europe 50 ETF | 91,479 | 101,922 | — | 101,922 |
* | The non-cash collateral includes U.S. Treasuries and U.S. Government Agency securities. |
The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged or securities loaned, and the remaining contractual maturity of those transactions as of March 31, 2018:
Remaining Contractual Maturity of the Agreements As of March 31, 2018 | ||||||||||||||||||||||||||||||||
Fund | Securities | Overnight and Continuous | <30 Days | Between 30 & 90 Days | >90 Days | Total Borrowings | Gross Amount of Recognized Liabilities for Securities Lending Transactions | |||||||||||||||||||||||||
SPDR EURO STOXX 50 ETF | Common Stocks | $ | 69,782,046 | $ | — | $ | — | $ | — | $ | 69,782,046 | $ | 69,782,046 | |||||||||||||||||||
SPDR MSCI ACWI ex-US ETF | Common Stocks | 32,639,102 | — | — | — | 32,639,102 | 32,639,102 | |||||||||||||||||||||||||
SPDR S&P Emerging Markets Dividend ETF | Common Stocks | 38,837,851 | — | — | — | 38,837,851 | 38,837,851 | |||||||||||||||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | Common Stocks | 19,823,794 | — | — | — | 19,823,794 | 19,823,794 | |||||||||||||||||||||||||
SPDR S&P International Dividend ETF | Common Stocks | 33,995,826 | — | — | — | 33,995,826 | 33,995,826 | |||||||||||||||||||||||||
SPDR STOXX Europe 50 ETF | Common Stocks | 101,922 | — | — | — | 101,922 | 101,922 |
9. | Line of Credit |
Certain Funds and other affiliated funds (each a “Participant” and, collectively, the “Participants”) participate in a $500 million revolving credit facility provided by a syndication of banks under which the Participants may borrow to fund shareholder redemptions. This agreement expires in October 2018 unless extended or renewed.
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
The Participants are charged an annual commitment fee which is calculated based on the unused portion of the shared credit line. Commitment fees are allocated among each of the Participants based on relative net assets. Commitment fees are ordinary fund operating expenses paid by the Adviser. A Participant incurs and pays the interest expense related to its borrowing. Interest is calculated at a rate per annum equal to the sum of 1% plus the greater of the New York Fed Bank Rate and 1-month LIBOR rate.
Prior to October 12, 2017, the Funds and other affiliated funds participated in a $360 million revolving credit facility.
The following Funds participate in the credit facility as of March 31, 2018:
SPDR MSCI ACWI ex-US ETF
SPDR S&P Emerging Markets Dividend ETF
SPDR S&P Emerging Markets Small Cap ETF
SPDR S&P International Dividend ETF
The Funds had no outstanding loans as of March 31, 2018.
10. | Risks |
Concentration Risk
As a result of the Funds’ ability to invest a large percentage of their assets in obligations of issuers within the same country, state, region, currency or economic sector, an adverse economic, business or political development may affect the value of the Funds’ investments more than if the Funds were more broadly diversified.
Foreign and Emerging Markets Risk
Investing in foreign markets involves risks and considerations not typically associated with investing in the U.S. Foreign securities may be subject to risk of loss because of government regulation, economic, political and social instability in the countries in which the Funds invest. Foreign markets may be less liquid than investments in the U.S. and may be subject to the risks of currency fluctuations. To the extent that a Fund invests in securities of issuers located in emerging markets, these risks may be even more pronounced.
Market and Credit Risk
In the normal course of business, the Funds trade financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the general economic conditions and fluctuations of the market (market risk). Additionally, a Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
perform or that an institution or entity with which the Fund has unsettled or open transactions defaults.
11. | Subsequent Events |
Management has evaluated the impact of all subsequent events on the Funds through the date on which the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements.
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SPDR INDEX SHARES FUNDS
March 31, 2018 (Unaudited)
Expense Example
As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads), if applicable, on purchase payments, reinvested dividends, or other distributions and (2) ongoing costs, including advisory fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. It is based on an investment of $1,000 made at the beginning of the period shown and held for the entire period from October 1, 2017 to March 31, 2018.
The table below illustrates your Fund’s cost in two ways:
Based on actual fund return ——This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from each Fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the Fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for the Fund under the heading “Expenses Paid During Period”.
Based on hypothetical 5% return ——This section is intended to help you compare your Fund’s costs with those of other mutual funds. It assumes that the Fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case, because the return used is not the Fund’s actual return, the results do not apply to your investment. The example is useful in making comparisons because the U.S. Securities and Exchange Commission (the “SEC”) requires all mutual funds to calculate expenses based on a 5% return. You can assess your Fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as sales load charges (loads). Therefore, the hypothetical 5% return section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.
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SPDR INDEX SHARES FUNDS
OTHER INFORMATION (continued)
March 31, 2018 (Unaudited)
SPDR EURO STOXX 50 ETF | SPDR MSCI ACWI ex-US ETF | SPDR S&P Emerging Markets Dividend ETF | |||||||||||||
Annualized Expense Ratio | 0.29 | % | 0.30 | % | 0.49 | % | |||||||||
Actual: | |||||||||||||||
Ending Account Value | $ | 977.50 | $ | 1,033.30 | $ | 1,164.90 | |||||||||
Expenses Paid During Period(a) | 1.43 | 1.52 | 2.64 | ||||||||||||
Hypothetical (assuming a 5% return before expenses): | |||||||||||||||
Ending Account Value | 1,023.50 | 1,023.40 | 1,022.50 | ||||||||||||
Expenses Paid During Period(a) | 1.46 | 1.51 | 2.47 | ||||||||||||
SPDR S&P Emerging Markets Small Cap ETF | SPDR S&P International Dividend ETF | SPDR STOXX Europe 50 ETF | |||||||||||||
Annualized Expense Ratio | 0.65 | % | 0.45 | % | 0.29 | % | |||||||||
Actual: | |||||||||||||||
Ending Account Value | $ | 1,069.80 | $ | 1,007.10 | $ | 984.00 | |||||||||
Expenses Paid During Period(a) | 3.35 | 2.25 | 1.43 | ||||||||||||
Hypothetical (assuming a 5% return before expenses): | |||||||||||||||
Ending Account Value | 1,021.70 | 1,022.70 | 1,023.50 | ||||||||||||
Expenses Paid During Period(a) | 3.28 | 2.27 | 1.46 |
(a) | Expenses are equal to the Fund’s annualized net expense ratio multiplied by the average account value of the period, multiplied by 182, then divided by 365. |
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 SEC’s website, at www.sec.gov.
Information regarding how the investment adviser voted for the prior 12-months period ended June 30, is available by August 31 of each year by calling the same number and on the SEC’s website, at www.sec.gov, and on the Funds’ website at www.spdrs.com.
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SPDR INDEX SHARES FUNDS
OTHER INFORMATION (continued)
March 31, 2018 (Unaudited)
Quarterly Portfolio Schedule
The Funds file a complete schedule of investments 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 1-866-787-2257 (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 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
SPDR MSCI ACWI ex-US ETF
SPDR S&P Emerging Markets Small Cap ETF
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SPDR® Index Shares Funds
SPDR Index Shares Funds
Trustees
Bonny E. Boatman
Dwight D. Churchill
David M. Kelly
Frank Nesvet, Chairman
James E. Ross
Carl G. Verboncoeur
Investment Manager and
Administrator
SSGA Funds Management, Inc.
One Iron Street
Boston, MA 02210
Distributor
State Street Global Advisors Funds
Distributors, LLC
One Iron Street
Boston, MA 02210
Custodian, Sub-Administrator
and Transfer Agent
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
Legal Counsel
Morgan, Lewis & Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, DC 20004
Independent Registered Public
Accounting Firm
PricewaterhouseCoopers LLP
101 Seaport Boulevard
Suite 500
Boston, MA 02210
Fund Shares are distributed by State Street Global Advisors Funds Distributors, LLC, a wholly-owned subsidiary of State Street Corporation. State Street Global Advisors Funds Distributors, 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.
Table of Contents
SPDR® Index Shares Funds
For more complete information, please call 1.866.787.2257 or
visit spdrs.com today.
ssga.com | spdrs.com
The Funds are not sponsored, endorsed, sold, or promoted by Stoxx, S&P Dow Jones Indices LLC, MSCI Inc., and Russell Investment Group. Neither do these companies make any representation regarding the advisability of investing in the Funds. The Funds are distributed by State Street Global Advisors Funds Distributors, LLC, an indirect wholly-owned subsidiary of State Street Corporation. State Street Global Advisors Funds Distributors, LLC is a member of FINRA, SIPC. 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 adviser, administrator and securities lending agent.
Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P
Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly-owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.
Before investing, consider the Funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting www.spdrs.com. Please read the prospectus carefully before you invest.
State Street Global Advisors | © 2018 State Street Corporation - All Rights Reserved 0515 Exp. Date: 11/30/2018 SPDRISINTLSAR |
Table of Contents
Semi-Annual Report
March 31, 2018
SPDR® Index Shares Funds
SPDR Portfolio Emerging Markets ETF
(formerly, SPDR S&P Emerging Markets ETF)
SPDR Portfolio Developed World ex-US ETF
(formerly, SPDR Portfolio World ex-US ETF)
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting www.spdrs.com. Please read the prospectus carefully before you invest.
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Table of Contents
Portfolio Statistics (Unaudited) | ||||
SPDR Portfolio Emerging Markets ETF (SPEM) (formerly, SPDR S&P Emerging Markets ETF) | 1 | |||
SPDR Portfolio Developed World ex-US ETF (SPDW) (formerly, SPDR Portfolio World ex-US ETF) | 2 | |||
Schedules of Investments (Unaudited) | ||||
SPDR Portfolio Emerging Markets ETF (SPEM) (formerly, SPDR S&P Emerging Markets ETF) (Summary) | 3 | |||
SPDR Portfolio Developed World ex-US ETF (SPDW) (formerly, SPDR Portfolio World ex-US ETF) (Summary) | 10 | |||
17 | ||||
21 | ||||
23 | ||||
36 |
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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[This Page Intentionally Left Blank]
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SPDR PORTFOLIO EMERGING MARKETS ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | ||||||||
Tencent Holdings, Ltd. | 5.5 | % | |||||||
Alibaba Group Holding, Ltd. ADR | 3.7 | ||||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 2.4 | ||||||||
Naspers, Ltd. | 1.9 | ||||||||
China Construction Bank Corp. | 1.8 | ||||||||
Industrial & Commercial Bank of China, Ltd. | 1.2 | ||||||||
Baidu, Inc. ADR | 1.2 | ||||||||
Itau Unibanco Holding SA Preference Shares ADR | 1.2 | ||||||||
Housing Development Finance Corp., Ltd. | 1.0 | ||||||||
Banco Bradesco SA Preference Shares ADR | 1.0 | ||||||||
TOTAL | 20.9 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | |||||||||
Financials | 25.3 | % | |||||||
Information Technology | 22.2 | ||||||||
Consumer Discretionary | 9.7 | ||||||||
Energy | 8.4 | ||||||||
Materials | 7.5 | ||||||||
Consumer Staples | 6.9 | ||||||||
Industrials | 6.1 | ||||||||
Telecommunication Services | 4.7 | ||||||||
Real Estate | 4.0 | ||||||||
Utilities | 2.5 | ||||||||
Health Care | 2.0 | ||||||||
Short-Term Investments | 2.5 | ||||||||
Liabilities in Excess of Other Assets | (1.8 | ) | |||||||
TOTAL | 100.0 | % |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
1
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLDEX-US ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | ||||||||
Nestle SA | 1.2 | % | |||||||
Samsung Electronics Co., Ltd. GDR | 1.1 | ||||||||
Novartis AG | 1.0 | ||||||||
HSBC Holdings PLC | 1.0 | ||||||||
Toyota Motor Corp. | 0.9 | ||||||||
Roche Holding AG | 0.8 | ||||||||
TOTAL SA | 0.7 | ||||||||
Royal Dutch Shell PLC Class A | 0.7 | ||||||||
BP PLC | 0.7 | ||||||||
British American Tobacco PLC | 0.6 | ||||||||
TOTAL | 8.7 | % |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | |||||||||
Financials | 20.6 | % | |||||||
Industrials | 14.6 | ||||||||
Consumer Discretionary | 12.2 | ||||||||
Consumer Staples | 10.1 | ||||||||
Health Care | 9.1 | ||||||||
Information Technology | 8.8 | ||||||||
Materials | 8.1 | ||||||||
Energy | 5.7 | ||||||||
Real Estate | 3.9 | ||||||||
Telecommunication Services | 3.3 | ||||||||
Utilities | 3.0 | ||||||||
Short-Term Investments | 2.6 | ||||||||
Liabilities in Excess of Other Assets | (2.0 | ) | |||||||
TOTAL | 100.0 | % |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
2
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SUMMARY SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS - 99.3% |
| |||||||
BRAZIL – 8.5% | ||||||||
Ambev SA ADR | 1,647,853 | $ | 11,979,891 | |||||
Banco Bradesco SA Preference Shares ADR | 1,405,188 | 16,693,633 | ||||||
Itau Unibanco Holding SA Preference Shares ADR | 1,268,749 | 19,792,484 | ||||||
Itausa - Investimentos Itau SA Preference Shares | 1,707,925 | 7,086,378 | ||||||
Petroleo Brasileiro SA Preference Shares ADR (a) | 798,594 | 10,373,736 | ||||||
Vale SA ADR (b) | 693,490 | 8,821,193 | ||||||
Other Securities | 10,025,758 | 71,088,568 | ||||||
|
| |||||||
145,835,883 | ||||||||
|
| |||||||
CHILE – 1.8% | ||||||||
SACI Falabella | 683,937 | 6,598,743 | ||||||
Other Securities | 7,250,501 | 23,638,149 | ||||||
|
| |||||||
30,236,892 | ||||||||
|
| |||||||
CHINA – 31.5% | ||||||||
AAC Technologies Holdings, Inc. | 406,492 | 7,333,979 | ||||||
Alibaba Group Holding, Ltd. ADR (a)(b) | 349,873 | 64,215,690 | ||||||
Baidu, Inc. ADR (a) | 91,225 | 20,360,508 | ||||||
Bank of China, Ltd. Class H | 23,004,900 | 12,369,644 | ||||||
China Construction Bank Corp. Class H | 30,770,280 | 31,600,277 | ||||||
China Huishan Dairy Holdings Co., Ltd. (a)(b)(c) | 310,600 | — | ||||||
China Life Insurance Co., Ltd. Class H | 2,369,260 | 6,520,650 | ||||||
China Merchants Bank Co., Ltd. Class H | 1,559,923 | 6,390,113 | ||||||
China Mobile, Ltd. | 1,773,366 | 16,257,493 | ||||||
China Overseas Land & Investment, Ltd | 1,779,200 | 6,177,542 | ||||||
China Petroleum & Chemical Corp. Class H | 8,859,200 | 7,777,466 | ||||||
CNOOC, Ltd. | 5,807,603 | 8,554,195 | ||||||
Coolpad Group, Ltd. (a)(c) | 253,600 | 11,633 | ||||||
Industrial & Commercial Bank of China, Ltd. Class H | 24,794,590 | 21,261,622 | ||||||
JD.com, Inc. ADR (a) | 271,935 | 11,010,648 | ||||||
National Agricultural Holdings, Ltd. (a)(b)(c) | 72,000 | 5,459 | ||||||
NetEase, Inc. ADR | 31,298 | 8,775,646 | ||||||
Ping An Insurance Group Co. of China, Ltd. Class H | 1,551,000 | 15,770,269 | ||||||
Tencent Holdings, Ltd. | 1,806,167 | 94,263,217 | ||||||
Other Securities | 212,984,997 | 202,965,916 | ||||||
|
| |||||||
541,621,967 | ||||||||
|
| |||||||
COLOMBIA – 0.5% | ||||||||
Other Securities | 50,055,029 | 9,080,559 | ||||||
|
| |||||||
CZECH REPUBLIC – 0.3% | ||||||||
Other Securities | 149,714 | 4,750,366 | ||||||
|
|
See accompanying notes to financial statements.
3
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
EGYPT – 0.3% | ||||||||
Other Securities | 2,260,931 | $ | 5,755,218 | |||||
|
| |||||||
GREECE – 0.2% | ||||||||
Other Securities | 441,236 | 3,089,770 | ||||||
|
| |||||||
HONG KONG – 1.2% | ||||||||
Asian Citrus Holdings, Ltd. (a)(c) | 51,000 | 1,949 | ||||||
China Fiber Optic Network System Group, Ltd. (a)(c) | 88,800 | — | ||||||
Hanergy Thin Film Power Group, Ltd. (a)(c) | 856,000 | — | ||||||
Hua Han Health Industry Holdings, Ltd. (a)(b)(c) | 283,600 | 14,364 | ||||||
Other Securities | 62,777,235 | 21,036,807 | ||||||
|
| |||||||
21,053,120 | ||||||||
|
| |||||||
HUNGARY – 0.6% | ||||||||
Other Securities | 495,927 | 10,923,729 | ||||||
|
| |||||||
INDIA – 11.0% | ||||||||
CORE Education & Technologies, Ltd. (a)(c) | 9,253 | — | ||||||
Era Infra Engineering, Ltd. (a)(c) | 2,941 | — | ||||||
HDFC Bank, Ltd. | 220,439 | 6,374,719 | ||||||
Hindustan Unilever, Ltd. | 403,334 | 8,245,498 | ||||||
Housing Development Finance Corp., Ltd. | 613,615 | 17,175,504 | ||||||
ICICI Bank, Ltd. ADR | 850,956 | 7,530,961 | ||||||
Infosys, Ltd. ADR (b) | 837,144 | 14,943,020 | ||||||
Maruti Suzuki India, Ltd. | 66,707 | 9,062,895 | ||||||
Reliance Industries, Ltd. GDR (d) | 407,620 | 11,046,502 | ||||||
Tata Consultancy Services, Ltd. | 202,250 | 8,835,105 | ||||||
Other Securities | 27,162,233 | 105,525,287 | ||||||
|
| |||||||
188,739,491 | ||||||||
|
| |||||||
INDONESIA – 2.8% | ||||||||
Bank Central Asia Tbk PT | 6,324,787 | 10,704,016 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 23,987,325 | 6,272,335 | ||||||
Other Securities | 130,202,127 | 30,358,102 | ||||||
|
| |||||||
47,334,453 | ||||||||
|
| |||||||
MACAU – 0.0% (e) | ||||||||
Other Security | 35,000 | 2,141 | ||||||
|
| |||||||
MALAYSIA – 2.6% | ||||||||
Other Securities | 54,221,893 | 45,459,809 | ||||||
|
| |||||||
MEXICO – 3.5% | ||||||||
America Movil SAB de CV Series L | 10,502,722 | 9,925,327 | ||||||
Fomento Economico Mexicano SAB de CV | 906,720 | 8,236,903 | ||||||
Other Securities | 22,550,624 | 41,708,912 | ||||||
|
| |||||||
59,871,142 | ||||||||
|
|
See accompanying notes to financial statements.
4
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
MONACO – 0.0% (e) | ||||||||
Other Security | 7,530 | $ | 123,868 | |||||
|
| |||||||
NETHERLANDS – 0.0% (e) | ||||||||
Other Security | 170,558 | 450,273 | ||||||
|
| |||||||
PERU – 0.9% | ||||||||
Credicorp, Ltd. | 30,548 | 6,935,618 | ||||||
Other Securities | 2,334,539 | 8,368,586 | ||||||
|
| |||||||
15,304,204 | ||||||||
|
| |||||||
PHILIPPINES – 1.4% | ||||||||
Other Securities | 54,624,468 | 23,331,413 | ||||||
|
| |||||||
POLAND – 1.1% | ||||||||
Other Securities | 1,870,810 | 18,273,169 | ||||||
|
| |||||||
QATAR – 0.5% | ||||||||
Other Securities | 733,713 | 8,021,548 | ||||||
|
| |||||||
RUSSIA – 4.3% | ||||||||
Gazprom PJSC ADR | 2,193,337 | 10,672,778 | ||||||
LUKOIL PJSC ADR | 178,836 | 12,321,800 | ||||||
Sberbank of Russia PJSC ADR (f) | 339,107 | 6,317,563 | ||||||
Sberbank of Russia PJSC ADR (f) | 355,019 | 6,621,104 | ||||||
Tatneft PJSC ADR (b) | 101,618 | 6,414,128 | ||||||
Other Securities | 3,579,207 | 32,326,374 | ||||||
|
| |||||||
74,673,747 | ||||||||
|
| |||||||
SOUTH AFRICA – 7.4% | ||||||||
FirstRand, Ltd. (b) | 1,226,187 | 6,923,254 | ||||||
Naspers, Ltd. Class N | 134,550 | 32,838,660 | ||||||
Standard Bank Group, Ltd. | 423,815 | 7,821,911 | ||||||
Other Securities | 12,603,519 | 78,857,657 | ||||||
|
| |||||||
126,441,482 | ||||||||
|
| |||||||
TAIWAN – 13.8% | ||||||||
Formosa Plastics Corp. | 1,785,714 | 6,308,212 | ||||||
Hon Hai Precision Industry Co., Ltd. | 4,781,495 | 14,759,219 | ||||||
Long Chen Paper Co., Ltd. | 6,595,165 | 7,419,193 | ||||||
Pihsiang Machinery Manufacturing Co., Ltd. (a)(c) | 51,000 | — | ||||||
ProMOS Technologies, Inc. (a)(c) | 257 | — | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 173,372 | 7,586,759 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 4,822,500 | 40,357,033 | ||||||
Transasia Airways Corp. (a)(c) | 361,784 | — | ||||||
Wei Mon Industry Co., Ltd. (a)(c) | 240,450 | — | ||||||
Other Securities | 135,490,125 | 160,878,842 | ||||||
|
| |||||||
237,309,258 | ||||||||
|
|
See accompanying notes to financial statements.
5
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
THAILAND – 3.3% | ||||||||
PTT PCL (g) | 391,936 | $ | 6,868,594 | |||||
Other Securities | 145,583,402 | 50,738,570 | ||||||
|
| |||||||
57,607,164 | ||||||||
|
| |||||||
TURKEY – 1.2% | ||||||||
Other Securities | 7,604,368 | 21,406,630 | ||||||
|
| |||||||
UNITED ARAB EMIRATES – 0.6% | ||||||||
Other Securities | 15,247,303 | 10,584,570 | ||||||
|
| |||||||
UNITED KINGDOM – 0.0% (e) | ||||||||
Other Security | 871 | 379 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 1,707,282,245 | |||||||
|
| |||||||
PREFERRED STOCKS - 0.0% (e) | ||||||||
SOUTH AFRICA – 0.0% (e) | ||||||||
Other Security | 33,422 | 169,271 | ||||||
|
| |||||||
WARRANTS - 0.0% (e) | ||||||||
INDONESIA – 0.0% (e) | ||||||||
Other Security | 1,696,566 | 77,635 | ||||||
|
| |||||||
MALAYSIA – 0.0% (e) | ||||||||
Other Security | 179,301 | 15,529 | ||||||
|
| |||||||
SOUTH AFRICA – 0.0% (e) | ||||||||
Other Security | 335 | 226 | ||||||
|
| |||||||
TOTAL WARRANTS | 93,390 | |||||||
|
| |||||||
RIGHTS - 0.0% (e) | ||||||||
BRAZIL – 0.0% (e) | ||||||||
Other Security | 3,501 | 32 | ||||||
|
| |||||||
SHORT-TERM INVESTMENTS - 2.5% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, | 4,427,757 | 4,427,757 |
See accompanying notes to financial statements.
6
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (h)(j) | 37,930,341 | $ | 37,930,341 | |||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 42,358,098 | |||||||
|
| |||||||
TOTAL INVESTMENTS - 101.8% | 1,749,903,036 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (1.8)% | (30,253,971 | ) | ||||||
|
| |||||||
NET ASSETS - 100.0% | $ | 1,719,649,065 | ||||||
|
|
The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available on the Fund’s website at www.spdrs.com, without charge, upon request by calling 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $33,405, representing less than 0.05% of the Fund’s net assets. |
(d) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.9% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(e) | Amount is less than 0.05% of net assets. |
(f) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(g) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $56,299,184 representing 3.3% of net assets. |
(h) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(i) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(j) | Investment of cash collateral for securities loaned. |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
See accompanying notes to financial statements.
7
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
At March 31, 2018, open futures contracts purchased were as follows:
Description | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation/ Depreciation | |||||
MSCI Taiwan Index Futures | 13 | 04/27/2018 | $528,197 | $530,010 | $1,813 |
During the period ended March 31, 2018, average notional value related to futures contracts was $519,369 or less than 0.5% of net assets.
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Brazil | $ | 145,835,883 | $ | — | $ | — | $ | 145,835,883 | ||||||||||||
Chile | 30,236,892 | — | — | 30,236,892 | ||||||||||||||||
China | 541,604,875 | — | 17,092 | 541,621,967 | ||||||||||||||||
Colombia | 9,080,559 | — | — | 9,080,559 | ||||||||||||||||
Czech Republic | 4,750,366 | — | — | 4,750,366 | ||||||||||||||||
Egypt | 5,755,218 | — | — | 5,755,218 | ||||||||||||||||
Greece | 3,089,770 | — | — | 3,089,770 | ||||||||||||||||
Hong Kong | 21,032,596 | 4,211 | 16,313 | 21,053,120 | ||||||||||||||||
Hungary | 10,923,729 | — | — | 10,923,729 | ||||||||||||||||
India | 188,012,885 | 726,606 | 0 | (a) | 188,739,491 | |||||||||||||||
Indonesia | 47,329,686 | 4,767 | — | 47,334,453 | ||||||||||||||||
Macau | 2,141 | — | — | 2,141 | ||||||||||||||||
Malaysia | 45,459,666 | 143 | — | 45,459,809 | ||||||||||||||||
Mexico | 59,871,142 | — | — | 59,871,142 | ||||||||||||||||
Monaco | 123,868 | — | — | 123,868 | ||||||||||||||||
Netherlands | 450,273 | — | — | 450,273 | ||||||||||||||||
Peru | 15,304,204 | — | — | 15,304,204 | ||||||||||||||||
Philippines | 23,331,413 | — | — | 23,331,413 | ||||||||||||||||
Poland | 18,273,169 | — | — | 18,273,169 | ||||||||||||||||
Qatar | 8,021,548 | — | — | 8,021,548 | ||||||||||||||||
Russia | 74,673,747 | — | — | 74,673,747 | ||||||||||||||||
South Africa | 126,441,482 | — | — | 126,441,482 | ||||||||||||||||
Taiwan | 237,309,258 | — | 0 | (a) | 237,309,258 | |||||||||||||||
Thailand | 2,250,368 | 55,356,796 | — | 57,607,164 | ||||||||||||||||
Turkey | 21,406,630 | — | — | 21,406,630 |
See accompanying notes to financial statements.
8
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
United Arab Emirates | $ | 10,377,909 | $ | 206,661 | $ | — | $ | 10,584,570 | ||||||||||||
United Kingdom | 379 | — | — | 379 | ||||||||||||||||
Preferred Stocks | ||||||||||||||||||||
South Africa | 169,271 | — | — | 169,271 | ||||||||||||||||
Warrants | ||||||||||||||||||||
Indonesia | 77,635 | — | — | 77,635 | ||||||||||||||||
Malaysia | 15,529 | — | — | 15,529 | ||||||||||||||||
South Africa | 226 | — | — | 226 | ||||||||||||||||
Rights | ||||||||||||||||||||
Brazil | 32 | — | — | 32 | ||||||||||||||||
Short-Term Investments | 42,358,098 | — | — | 42,358,098 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 1,693,570,447 | $ | 56,299,184 | $ | 33,405 | $ | 1,749,903,036 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
OTHER FINANCIAL INSTRUMENTS: | ||||||||||||||||||||
Futures Contracts(b) | 1,813 | — | — | 1,813 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS AND OTHER | ||||||||||||||||||||
FINANCIAL INSTRUMENTS | $ | 1,693,572,260 | $ | 56,299,184 | $ | 33,405 | $ | 1,749,904,849 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
(b) | Futures Contracts are valued at unrealized appreciation (depreciation). |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | — | $ | — | $ | 90,676,387 | $ | 86,248,630 | $ | — | $ | — | 4,427,757 | $ | 4,427,757 | $ | 12,171 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 8,647,800 | 8,647,800 | 84,715,944 | 55,433,403 | — | — | 37,930,341 | 37,930,341 | 133,723 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 8,647,800 | $ | 175,392,331 | $ | 141,682,033 | $ | — | $ | — | $ | 42,358,098 | $ | 145,894 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
9
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS - 99.4% | ||||||||
AUSTRALIA – 5.6% | ||||||||
Arrium, Ltd. (a)(b)(c) | 163,093 | $ | — | |||||
BHP Billiton, Ltd. | 402,120 | 8,701,266 | ||||||
Commonwealth Bank of Australia | 215,502 | 11,952,901 | ||||||
CSL, Ltd. | 65,087 | 7,761,338 | ||||||
Westpac Banking Corp. | 407,780 | 8,951,982 | ||||||
Other Securities | 14,888,337 | 107,931,593 | ||||||
|
| |||||||
145,299,080 | ||||||||
|
| |||||||
AUSTRIA – 0.3% | ||||||||
Other Securities | 158,795 | 8,667,184 | ||||||
|
| |||||||
BELGIUM – 1.2% | ||||||||
Anheuser-Busch InBev SA | 123,856 | 13,599,518 | ||||||
Other Securities | 235,263 | 16,605,148 | ||||||
|
| |||||||
30,204,666 | ||||||||
|
| |||||||
CANADA – 7.7% | ||||||||
Bank of Nova Scotia | 152,180 | 9,367,465 | ||||||
Royal Bank of Canada | 179,931 | 13,889,264 | ||||||
Suncor Energy, Inc. | 244,513 | 8,437,761 | ||||||
Toronto-Dominion Bank | 249,991 | 14,176,337 | ||||||
Other Securities | 6,810,661 | 153,700,264 | ||||||
|
| |||||||
199,571,091 | ||||||||
|
| |||||||
CHILE – 0.0% (d) | ||||||||
Other Security | 43,660 | 564,078 | ||||||
|
| |||||||
CHINA – 0.1% | ||||||||
Other Securities | 2,141,145 | 1,454,522 | ||||||
|
| |||||||
DENMARK – 1.4% | ||||||||
Novo Nordisk A/S Class B | 249,053 | 12,224,796 | ||||||
Other Securities | 406,555 | 24,562,222 | ||||||
|
| |||||||
36,787,018 | ||||||||
|
| |||||||
FINLAND – 0.9% | ||||||||
Other Securities | 1,345,995 | 22,415,427 | ||||||
|
| |||||||
FRANCE – 8.1% | ||||||||
Airbus SE | 79,471 | 9,167,772 | ||||||
BNP Paribas SA | 139,116 | 10,294,598 | ||||||
LVMH Moet Hennessy Louis Vuitton SE (c) | 34,060 | 10,480,554 | ||||||
Sanofi | 152,181 | 12,227,154 | ||||||
TOTAL SA | 317,178 | 17,994,460 |
See accompanying notes to financial statements.
10
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Other Securities | 3,211,059 | $ | 148,526,611 | |||||
|
| |||||||
208,691,149 | ||||||||
|
| |||||||
GERMANY – 7.8% | ||||||||
Allianz SE | 57,181 | 12,897,436 | ||||||
BASF SE | 114,818 | 11,645,504 | ||||||
Bayer AG | 105,584 | 11,919,164 | ||||||
Daimler AG | 124,233 | 10,537,789 | ||||||
SAP SE | 124,386 | 12,998,386 | ||||||
Siemens AG | 106,173 | 13,517,322 | ||||||
Other Securities | 2,824,918 | 127,441,593 | ||||||
|
| |||||||
200,957,194 | ||||||||
|
| |||||||
HONG KONG – 2.9% | ||||||||
AIA Group, Ltd. | 1,576,600 | 13,338,715 | ||||||
Other Securities | 17,313,487 | 61,385,977 | ||||||
|
| |||||||
74,724,692 | ||||||||
|
| |||||||
IRELAND – 0.5% | ||||||||
Irish Bank Resolution Corp., Ltd. (a) | 5,635 | — | ||||||
Other Securities | 652,996 | 13,827,590 | ||||||
|
| |||||||
13,827,590 | ||||||||
|
| |||||||
ISRAEL – 0.5% | ||||||||
Other Securities | 1,415,957 | 13,553,579 | ||||||
|
| |||||||
ITALY – 2.0% | ||||||||
Other Securities | 9,890,350 | 52,470,131 | ||||||
|
| |||||||
JAPAN – 23.3% | ||||||||
FANUC Corp. | 29,855 | 7,458,837 | ||||||
Honda Motor Co., Ltd. | 245,075 | 8,390,391 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 1,702,324 | 11,145,540 | ||||||
SoftBank Group Corp. | 114,536 | 8,406,845 | ||||||
Sony Corp. | 163,820 | 7,871,370 | ||||||
Toyota Motor Corp. | 340,688 | 21,918,075 | ||||||
Other Securities | 28,327,480 | 538,615,375 | ||||||
|
| |||||||
603,806,433 | ||||||||
|
| |||||||
JORDAN – 0.0% (d) | ||||||||
Other Security | 17,751 | 300,930 | ||||||
|
| |||||||
LUXEMBOURG – 0.2% | ||||||||
Other Securities | 171,062 | 4,921,092 | ||||||
|
| |||||||
MACAU – 0.0% (d) | ||||||||
Other Securities | 177,600 | 621,230 | ||||||
|
|
See accompanying notes to financial statements.
11
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
MALTA – 0.0% (d) | ||||||||
Other Securities | 55,023 | $ | 746,969 | |||||
|
| |||||||
MEXICO – 0.0% (d) | ||||||||
Other Security | 25,223 | 448,831 | ||||||
|
| |||||||
NETHERLANDS – 3.7% | ||||||||
ASML Holding NV | 65,592 | 12,919,036 | ||||||
ING Groep NV | 524,648 | 8,839,768 | ||||||
Royal Dutch Shell PLC Class A | 562,303 | 17,617,818 | ||||||
Royal Dutch Shell PLC Class B | 465,278 | 14,861,796 | ||||||
Other Securities | 1,813,203 | 41,780,588 | ||||||
|
| |||||||
96,019,006 | ||||||||
|
| |||||||
NEW ZEALAND – 0.3% | ||||||||
Other Securities | 2,211,451 | 7,039,646 | ||||||
|
| |||||||
NORWAY – 0.7% | ||||||||
Other Securities | 1,328,733 | 18,432,640 | ||||||
|
| |||||||
PORTUGAL – 0.2% | ||||||||
Other Securities | 2,002,584 | 4,857,592 | ||||||
|
| |||||||
SINGAPORE – 1.2% | ||||||||
Other Securities | 14,230,306 | 30,824,309 | ||||||
|
| |||||||
SOUTH AFRICA – 0.1% | ||||||||
Other Securities | 163,845 | 3,026,071 | ||||||
|
| |||||||
SOUTH KOREA – 5.0% | ||||||||
Digitech Systems Co., Ltd. (a) | 19,094 | — | ||||||
Samsung Electronics Co., Ltd. GDR | 24,680 | 28,283,280 | ||||||
Other Securities | 2,547,456 | 101,699,998 | ||||||
|
| |||||||
129,983,278 | ||||||||
|
| |||||||
SPAIN – 2.7% | ||||||||
Banco Santander SA | 2,053,626 | 13,373,332 | ||||||
Let’s GOWEX SA (a)(b)(c) | 4,019 | — | ||||||
Other Securities | 5,206,453 | 55,334,269 | ||||||
|
| |||||||
68,707,601 | ||||||||
|
| |||||||
SWEDEN – 2.6% | ||||||||
Other Securities | 4,680,299 | 67,198,759 | ||||||
|
| |||||||
SWITZERLAND – 6.9% | ||||||||
Nestle SA | 386,759 | 30,541,683 | ||||||
Novartis AG | 328,125 | 26,473,410 | ||||||
Roche Holding AG | 93,196 | 21,323,354 | ||||||
UBS Group AG (b) | 456,139 | 8,000,057 |
See accompanying notes to financial statements.
12
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Other Securities | 2,576,645 | $ | 91,532,021 | |||||
|
| |||||||
177,870,525 | ||||||||
|
| |||||||
UNITED KINGDOM – 13.3% | ||||||||
Afren PLC (a)(c) | 55,933 | — | ||||||
AstraZeneca PLC | 172,777 | 11,865,300 | ||||||
BP PLC | 2,467,608 | 16,589,529 | ||||||
British American Tobacco PLC | 283,584 | 16,433,599 | ||||||
Diageo PLC | 345,741 | 11,698,332 | ||||||
GlaxoSmithKline PLC | 662,371 | 12,952,686 | ||||||
HSBC Holdings PLC | 2,609,645 | 24,359,030 | ||||||
Lloyds Banking Group PLC | 8,848,625 | 8,026,150 | ||||||
Prudential PLC | 322,109 | 8,036,232 | ||||||
Rio Tinto PLC | 149,144 | 7,554,905 | ||||||
Unilever NV | 214,288 | 12,088,680 | ||||||
Unilever PLC | 185,129 | 10,272,392 | ||||||
Vodafone Group PLC | 3,630,455 | 9,891,241 | ||||||
Other Securities | 24,463,024 | 194,062,736 | ||||||
|
| |||||||
343,830,812 | ||||||||
|
| |||||||
UNITED STATES – 0.2% | ||||||||
Other Securities | 633,872 | 4,152,617 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 2,571,975,742 | |||||||
|
| |||||||
WARRANTS – 0.0% (d) | ||||||||
FRANCE – 0.0% (d) | ||||||||
Other Securities | 18,956 | 4,324 | ||||||
|
| |||||||
RIGHTS – 0.0% (d) | ||||||||
ITALY – 0.0% (d) | ||||||||
Other Security | 48,911 | 52,009 | ||||||
|
| |||||||
SOUTH KOREA – 0.0% (d) | ||||||||
Other Security | 16,450 | 32,023 | ||||||
|
| |||||||
UNITED KINGDOM – 0.0% (d) | ||||||||
Other Security | 5,756 | 29,957 | ||||||
|
| |||||||
TOTAL RIGHTS | 113,989 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS - 2.6% | ||||||||
State Street Institutional U.S. Government Money Market Fund, | 2,509,422 | 2,509,422 |
See accompanying notes to financial statements.
13
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (e)(g) | 65,277,407 | $ | 65,277,407 | |||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 67,786,829 | |||||||
|
| |||||||
TOTAL INVESTMENTS - 102.0% | 2,639,880,884 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (2.0)% | (50,947,933 | ) | ||||||
|
| |||||||
NET ASSETS - 100.0% | $ | 2,588,932,951 | ||||||
|
|
The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available on the Fund’s website at www.spdrs.com, without charge, upon request by calling 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
(a) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $0, representing 0.0% of the Fund’s net assets. |
(b) | Non-income producing security. |
(c) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(d) | Amount is less than 0.05% of net assets. |
(e) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(f) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(g) | Investment of cash collateral for securities loaned. |
GDR Global Depositary Receipt
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | $ | 145,299,080 | $ | — | $ | 0 | (a) | $ | 145,299,080 | |||||||||||
Austria | 8,667,184 | — | — | 8,667,184 | ||||||||||||||||
Belgium | 30,204,666 | — | — | 30,204,666 | ||||||||||||||||
Canada | 199,571,091 | — | — | 199,571,091 |
See accompanying notes to financial statements.
14
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Chile | $ | 564,078 | $ | — | $ | — | $ | 564,078 | ||||||||||||
China | 1,454,522 | — | — | 1,454,522 | ||||||||||||||||
Denmark | 36,787,018 | — | — | 36,787,018 | ||||||||||||||||
Finland | 22,415,427 | — | — | 22,415,427 | ||||||||||||||||
France | 208,691,149 | — | — | 208,691,149 | ||||||||||||||||
Germany | 200,957,194 | — | — | 200,957,194 | ||||||||||||||||
Hong Kong | 74,724,692 | — | — | 74,724,692 | ||||||||||||||||
Ireland | 13,827,590 | — | 0 | (a) | 13,827,590 | |||||||||||||||
Israel | 13,553,579 | — | — | 13,553,579 | ||||||||||||||||
Italy | 52,470,131 | — | — | 52,470,131 | ||||||||||||||||
Japan | 603,806,433 | — | — | 603,806,433 | ||||||||||||||||
Jordan | 300,930 | — | — | 300,930 | ||||||||||||||||
Luxembourg | 4,921,092 | — | — | 4,921,092 | ||||||||||||||||
Macau | 621,230 | — | — | 621,230 | ||||||||||||||||
Malta | 746,969 | — | — | 746,969 | ||||||||||||||||
Mexico | 448,831 | — | — | 448,831 | ||||||||||||||||
Netherlands | 96,005,511 | 13,495 | — | 96,019,006 | ||||||||||||||||
New Zealand | 7,039,646 | — | — | 7,039,646 | ||||||||||||||||
Norway | 18,432,640 | — | — | 18,432,640 | ||||||||||||||||
Portugal | 4,857,592 | — | — | 4,857,592 | ||||||||||||||||
Singapore | 30,771,879 | 52,430 | — | 30,824,309 | ||||||||||||||||
South Africa | 3,026,071 | — | — | 3,026,071 | ||||||||||||||||
South Korea | 129,983,278 | — | 0 | (a) | 129,983,278 | |||||||||||||||
Spain | 68,707,601 | — | 0 | (a) | 68,707,601 | |||||||||||||||
Sweden | 67,198,759 | — | — | 67,198,759 | ||||||||||||||||
Switzerland | 177,870,525 | — | — | 177,870,525 | ||||||||||||||||
United Kingdom | 343,830,812 | — | 0 | (a) | 343,830,812 | |||||||||||||||
United States | 4,152,617 | — | — | 4,152,617 | ||||||||||||||||
Warrants | ||||||||||||||||||||
France | 4,324 | — | — | 4,324 | ||||||||||||||||
Rights | ||||||||||||||||||||
Italy | 52,009 | — | — | 52,009 | ||||||||||||||||
South Korea. | 32,023 | — | — | 32,023 | ||||||||||||||||
United Kingdom | 29,957 | — | — | 29,957 | ||||||||||||||||
Short-Term Investments | 67,786,829 | — | — | 67,786,829 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 2,639,814,959 | $ | 65,925 | $ | 0 | $ | 2,639,880,884 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
See accompanying notes to financial statements.
15
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | |||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 1,169,081 | $ | 1,169,081 | $ | 9,556,166 | $ | 7,046,744 | $ | — | $ | — | 2,509,422 | $ | 2,509,422 | $ | 28,979 | |||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 22,963,226 | 22,963,226 | 224,925,176 | 182,610,995 | — | — | 65,277,407 | 65,277,407 | 283,601 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||||||||||||||
Total | $ | 24,132,307 | $ | 234,481,342 | $ | 189,657,739 | $ | — | $ | — | $ | 67,786,829 | $ | 312,580 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
16
Table of Contents
STATEMENTS OF ASSETS AND LIABILITIES
March 31, 2018 (Unaudited)
SPDR Portfolio Emerging Markets ETF | SPDR Portfolio Developed World ex-US ETF | |||||||||
ASSETS | ||||||||||
Investments in unaffiliated issuers, at value* | $ | 1,707,544,938 | $ | 2,572,094,055 | ||||||
Investments in affiliated issuers, at value | 42,358,098 | 67,786,829 | ||||||||
|
|
|
| |||||||
Total Investments | 1,749,903,036 | 2,639,880,884 | ||||||||
Foreign currency, at value | 6,365,192 | 4,916,396 | ||||||||
Cash at broker | 22,880 | — | ||||||||
Cash | 11 | — | ||||||||
Receivable from broker — variation margin on open futures contracts | 6,831 | — | ||||||||
Receivable for investments sold | — | 25 | ||||||||
Dividends receivable — unaffiliated issuers | 1,712,110 | 9,705,077 | ||||||||
Dividends receivable — affiliated issuers | 3,290 | 3,966 | ||||||||
Securities lending income receivable — unaffiliated issuers | 35,953 | 24,991 | ||||||||
Securities lending income receivable — affiliated issuers | 37,758 | 107,015 | ||||||||
Receivable for foreign taxes recoverable | 502 | 804,567 | ||||||||
|
|
|
| |||||||
TOTAL ASSETS | 1,758,087,563 | 2,655,442,921 | ||||||||
|
|
|
| |||||||
LIABILITIES | ||||||||||
Due to custodian | — | 874,250 | ||||||||
Payable upon return of securities loaned | 37,930,341 | 65,277,407 | ||||||||
Payable for investments purchased | 97,549 | 99,709 | ||||||||
Deferred foreign taxes payable | — | 20,940 | ||||||||
Advisory fee payable | 410,132 | 236,175 | ||||||||
Trustees’ fees and expenses payable | 476 | 1,478 | ||||||||
Accrued expenses and other liabilities | — | 11 | ||||||||
|
|
|
| |||||||
TOTAL LIABILITIES | 38,438,498 | 66,509,970 | ||||||||
|
|
|
| |||||||
NET ASSETS | $ | 1,719,649,065 | $ | 2,588,932,951 | ||||||
|
|
|
| |||||||
NET ASSETS CONSIST OF: | ||||||||||
Paid-in Capital | $ | 1,661,509,654 | $ | 2,521,068,251 | ||||||
Undistributed (distribution in excess of) net investment income (loss) | 4,842,790 | 14,537,408 | ||||||||
Accumulated net realized gain (loss) investments, foreign currency transactions and futures contracts | (27,191,527 | ) | (4,386,486 | ) | ||||||
Net unrealized appreciation (depreciation) on: | ||||||||||
Investments — unaffiliated issuers** | 80,475,004 | 57,709,013 | ||||||||
Foreign currency translations | 11,331 | 4,765 | ||||||||
Futures contracts | 1,813 | — | ||||||||
|
|
|
| |||||||
NET ASSETS | $ | 1,719,649,065 | $ | 2,588,932,951 | ||||||
|
|
|
| |||||||
NET ASSET VALUE PER SHARE | ||||||||||
Net asset value per share | $ | 38.73 | $ | 31.19 | ||||||
|
|
|
| |||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 44,400,000 | 83,000,000 | ||||||||
|
|
|
| |||||||
COST OF INVESTMENTS: | ||||||||||
Investments in unaffiliated issuers | $ | 1,627,069,934 | $ | 2,514,364,102 | ||||||
Investments in affiliated issuers | 42,358,098 | 67,786,829 | ||||||||
|
|
|
| |||||||
Total cost of investments | $ | 1,669,428,032 | $ | 2,582,150,931 | ||||||
|
|
|
| |||||||
Foreign currency, at cost | $ | 6,346,709 | $ | 4,930,484 | ||||||
|
|
|
| |||||||
* Includes investments in securities on loan, at value | $ | 100,219,647 | $ | 97,149,903 | ||||||
|
|
|
| |||||||
** Includes deferred foreign taxes | $ | — | $ | 20,940 | ||||||
|
|
|
|
See accompanying notes to financial statements.
17
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS
For the Six Months Ended March 31, 2018 (Unaudited)
SPDR Portfolio Emerging Markets ETF | SPDR Portfolio Developed World ex-US ETF | |||||||
INVESTMENT INCOME | ||||||||
Dividend income — unaffiliated issuers | $ | 7,503,485 | $ | 24,484,150 | ||||
Dividend income — affiliated issuers | 12,171 | 28,979 | ||||||
Unaffiliated securities lending income | 113,123 | 85,641 | ||||||
Affiliated securities lending income | 133,723 | 283,601 | ||||||
Foreign taxes withheld | (603,352 | ) | (2,241,683 | ) | ||||
|
|
|
| |||||
TOTAL INVESTMENT INCOME (LOSS) | 7,159,150 | 22,640,688 | ||||||
|
|
|
| |||||
EXPENSES | ||||||||
Advisory fee | 725,891 | 489,887 | ||||||
Trustees’ fees and expenses | 5,411 | 10,003 | ||||||
Miscellaneous expenses | 2,681 | 1,975 | ||||||
|
|
|
| |||||
TOTAL EXPENSES | 733,983 | 501,865 | ||||||
|
|
|
| |||||
NET INVESTMENT INCOME (LOSS) | 6,425,167 | 22,138,823 | ||||||
|
|
|
| |||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||
Net realized gain (loss) on: | ||||||||
Investments — unaffiliated issuers | 361,673 | 1,282,042 | ||||||
In-kind redemptions — unaffiliated issuers | — | (264 | ) | |||||
Foreign currency transactions | (124,049 | ) | 131,176 | |||||
Futures contracts | 29,690 | — | ||||||
|
|
|
| |||||
Net realized gain (loss) | 267,314 | 1,412,954 | ||||||
|
|
|
| |||||
Net change in unrealized appreciation/depreciation on: | ||||||||
Investments — unaffiliated issuers* | 35,655,348 | (18,330,401 | ) | |||||
Foreign currency translations | 37,518 | (6,039 | ) | |||||
Futures contracts | 2,903 | — | ||||||
|
|
|
| |||||
Net change in unrealized appreciation/depreciation | 35,695,769 | (18,336,440 | ) | |||||
|
|
|
| |||||
NET REALIZED AND UNREALIZED GAIN (LOSS) | 35,963,083 | (16,923,486 | ) | |||||
|
|
|
| |||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | 42,388,250 | $ | 5,215,337 | ||||
|
|
|
| |||||
* Includes foreign deferred taxes | $ | 287,885 | $ | (20,940 | ) | |||
|
|
|
|
See accompanying notes to financial statements.
18
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS
SPDR Portfolio Emerging Markets ETF | ||||||||
Six Months Ended 3/31/18(a) (Unaudited) | Year Ended 9/30/17(a) | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 6,425,167 | $ | 7,916,297 | ||||
Net realized gain (loss) | 267,314 | (718,708 | ) | |||||
Net change in unrealized appreciation/depreciation | 35,695,769 | 71,340,770 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 42,388,250 | 78,538,359 | ||||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (7,039,001 | ) | (4,140,214 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | 1,121,349,786 | 253,169,111 | ||||||
Other capital | 514,039 | 85,243 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | 1,121,863,825 | 253,254,354 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | 1,157,213,074 | 327,652,499 | ||||||
|
|
|
| |||||
Net assets at beginning of period | 562,435,991 | 234,783,492 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 1,719,649,065 | $ | 562,435,991 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 4,842,790 | $ | 5,456,624 | ||||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 28,800,000 | 7,800,000 |
(a) | After the close of trading on October 13, 2017, the SPDR Portfolio Emerging Markets ETF underwent a 2-for-1 share split. The historical per share activity presented here has been retroactively adjusted to reflect this split. See Note 12. |
See accompanying notes to financial statements.
19
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR Portfolio Devleoped World ex-US ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 22,138,823 | $ | 20,021,553 | ||||
Net realized gain (loss) | 1,412,954 | 10,416,165 | ||||||
Net change in unrealized appreciation/depreciation | (18,336,440 | ) | 118,542,737 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | 5,215,337 | 148,980,455 | ||||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (13,153,312 | ) | (21,128,852 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||
Proceeds from sale of shares sold | 1,583,495,203 | 341,888,994 | ||||||
Cost of shares redeemed | — | (91,199,248 | ) | |||||
Other capital | — | 1,822 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | 1,583,495,203 | 250,691,568 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | 1,575,557,228 | 378,543,171 | ||||||
|
|
|
| |||||
Net assets at beginning of period | 1,013,375,723 | 634,832,552 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 2,588,932,951 | $ | 1,013,375,723 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 14,537,408 | $ | 5,551,897 | ||||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 49,800,000 | 12,600,000 | ||||||
Shares redeemed | — | (3,400,000 | ) | |||||
|
|
|
| |||||
Net increase (decrease) | 49,800,000 | 9,200,000 | ||||||
|
|
|
|
See accompanying notes to financial statements.
20
Table of Contents
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR Portfolio Emerging Markets ETF | ||||||||||||||||||||||||
Six Months Ended 3/31/18(a) (Unaudited) | Year Ended 9/30/17(a) | Year Ended 9/30/16(a) | Year Ended 9/30/15(a) | Year Ended 9/30/14(a) | Year Ended 9/30/13(a) | |||||||||||||||||||
Net asset value, beginning of period | $ | 36.06 | $ | 30.10 | $ | 26.21 | $ | 33.18 | $ | 31.57 | $ | 31.93 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (b) | 0.22 | 0.70 | 0.56 | 0.64 | 0.70 | 0.69 | ||||||||||||||||||
Net realized and unrealized gain (loss) (c) | 2.70 | 5.64 | 3.91 | (6.94 | ) | 1.43 | (0.28 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total from investment operations | 2.92 | 6.34 | 4.47 | (6.30 | ) | 2.13 | 0.41 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net equalization credits and charges (b) | — | — | — | 0.00 | (d) | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Other capital | 0.02 | 0.01 | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||
Net investment income | (0.27 | ) | (0.39 | ) | (0.58 | ) | (0.67 | ) | (0.52 | ) | (0.77 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net asset value, end of period | $ | 38.73 | $ | 36.06 | $ | 30.10 | $ | 26.21 | $ | 33.18 | $ | 31.57 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total return (e) | 8.20 | % | 21.36 | % | 17.38 | % | (19.34 | )% | 6.73 | % | 1.31 | % | ||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 1,719,649 | $ | 562,436 | $ | 234,783 | $ | 188,707 | $ | 285,285 | $ | 189,412 | ||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||
Total expenses | 0.13 | %(f) | 0.59 | % | 0.59 | % | 0.59 | % | 0.59 | % | 0.59 | % | ||||||||||||
Net investment income (loss) | 1.15 | %(f) | 2.16 | % | 2.05 | % | 2.02 | % | 2.12 | % | 2.15 | % | ||||||||||||
Portfolio turnover rate (g) | 0 | %(h)(i) | 0 | %(h) | 12 | % | 18 | % | 9 | % | 21 | % |
(a) | After the close of trading on October 13, 2017, the SPDR Portfolio Emerging Markets ETF underwent a 2-for-1 share split. The per share data presented here have been retroactively adjusted to reflect this split. See Note 12. |
(b) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(c) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. |
(d) | Amount is less than $0.005 per share. |
(e) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(f) | Annualized. |
(g) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(h) | Amount is less than 0.005%. |
(i) | Not annualized. |
See accompanying notes to financial statements.
21
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR Portfolio Developed World ex-US ETF | ||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||
Net asset value, beginning of period | $ | 30.52 | $ | 26.45 | $ | 25.17 | $ | 28.46 | $ | 28.00 | $ | 23.91 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) (a) | 0.38 | 0.70 | 0.69 | 0.71 | 0.89 | 0.73 | ||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 0.52 | 4.16 | 1.32 | (3.25 | ) | 0.40 | 4.04 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total from investment operations | 0.90 | 4.86 | 2.01 | (2.54 | ) | 1.29 | 4.77 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Other capital | — | 0.00 | (c) | — | — | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||
Net investment income | (0.23 | ) | (0.79 | ) | (0.69 | ) | (0.75 | ) | (0.83 | ) | (0.68 | ) | ||||||||||||
Net realized gains | — | — | (0.04 | ) | — | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total distributions | (0.23 | ) | (0.79 | ) | (0.73 | ) | (0.75 | ) | (0.83 | ) | (0.68 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Net asset value, end of period | $ | 31.19 | $ | 30.52 | $ | 26.45 | $ | 25.17 | $ | 28.46 | $ | 28.00 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total return (d) | 2.93 | % | 18.75 | % | 8.12 | % | (9.14 | )% | 4.52 | % | 20.27 | % | ||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 2,588,933 | $ | 1,013,376 | $ | 634,833 | $ | 714,914 | $ | 825,443 | $ | 688,755 | ||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||
Total expenses | 0.06 | %(e) | 0.34 | % | 0.34 | % | 0.34 | % | 0.34 | % | 0.34 | % | ||||||||||||
Net investment income (loss) | 2.43 | %(e) | 2.49 | % | 2.70 | % | 2.53 | % | 3.06 | % | 2.79 | % | ||||||||||||
Portfolio turnover rate (f) | 1 | %(g) | 5 | % | 3 | % | 8 | % | 17 | % | 2 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
See accompanying notes to financial statements.
22
Table of Contents
NOTES TO FINANCIAL STATEMENTS
March 31, 2018 (Unaudited)
1. | Organization |
SPDR Index Shares Funds (the “Trust”), a Massachusetts business trust, registered under the Investment Company Act of 1940, as amended (“1940 Act”), is an open-end management investment company.
As of March 31, 2018, the Trust consists of thirty (30) series, each of which represents a separate series of beneficial interest in the Trust. The Declaration of Trust permits the Board of Trustees of the Trust (the “Board”) to authorize the issuance of an unlimited number of shares of beneficial interest at $0.01 par value. The financial statements herein relate to the following series (each a “Fund”, and collectively, the “Funds”):
SPDR Portfolio Emerging Markets ETF
SPDR Portfolio Developed World ex-US ETF
Each Fund is classified as a non-diversified investment company under the 1940 Act.
Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.
2. | Summary of Significant Accounting Policies |
The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements:
The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies.
Security Valuation
Each Fund’s investments are valued at fair value each day that the New York Stock Exchange (“NYSE”) is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the NYSE is not open. Fair value is generally defined as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. By its nature, a fair value price is a good faith estimate of the valuation in a current sale
23
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
and may not reflect an actual market price. The investments of each Fund are valued pursuant to the policy and procedures developed by the Oversight Committee (the “Committee”) and approved by the Board. The Committee provides oversight of the valuation of investments for the Funds. The Board has responsibility for determining the fair value of investments.
Valuation techniques used to value each Fund’s investments by major category are as follows:
• | Equity investments (including preferred stocks and registered investment companies that are exchange-traded funds) traded on a recognized securities exchange for which market quotations are readily available are valued at the last sale price or official closing price, as applicable, on the primary market or exchange on which they trade. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last published sale price or at fair value. |
• | Rights and warrants are valued at the last reported sale price obtained from independent pricing services or brokers on the valuation date. If no price is obtained from pricing services or brokers, valuation will be based upon the intrinsic value, pursuant to the valuation policy and procedures approved by the Board. |
• | Investments in registered investment companies (including money market funds) or other unitized pooled investment vehicles that are not traded on an exchange are valued at that day’s published net asset value (“NAV”) per share or unit. |
• | Exchange-traded futures contracts are valued at the closing settlement price on the primary market on which they are traded most extensively. Exchange-traded futures contracts traded on a recognized exchange for which there were no sales on that day are valued at the last reported sale price obtained from independent pricing services or brokers or at fair value. |
In the event prices or quotations are not readily available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with the valuation policy and procedures approved by the Board.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Funds’ underlying benchmarks. Various inputs are used in determining the value of the Funds’ investments.
24
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
The Funds value their assets and liabilities at fair value using a fair value hierarchy consisting of three broad levels that prioritize the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The categorization of a value determined for an investment within the hierarchy is based upon the pricing transparency of the investment and is not necessarily an indication of the risk associated with investing in it.
The three levels of the fair value hierarchy are as follows:
• | Level 1 – Unadjusted quoted prices in active markets for an identical asset or liability; |
• | Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and |
• | Level 3 – Unobservable inputs for the asset or liability, including the Committee’s assumptions used in determining the fair value of investments. |
The value of each Fund’s investments according to the fair value hierarchy as of March 31, 2018, is disclosed in each Fund’s respective Schedule of Investments.
Changes in valuation techniques may result in transfers in or out of an assigned level within the fair value hierarchy. Transfers between different levels of the fair value hierarchy are recognized at the end of the reporting period. The Funds had no material transfers between levels for the period ended March 31, 2018.
Investment Transactions and Income Recognition
Investment transactions are accounted for on trade date for financial reporting purposes. Realized gains and losses from the sale or disposition of investments and foreign exchange transactions, if any, are determined using the identified cost method.
Dividend income and capital gain distributions, if any, are recognized on the ex-dividend date, net of any foreign taxes withheld at source, if any. Non-cash dividends received in the form of stock are recorded as dividend income at fair value. Distributions received by the Fund’s may include a return of capital that is estimated by
25
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
management. Such amounts are recorded as a reduction of the cost of investments or reclassified to capital gains.
Expenses
Certain expenses, which are directly identifiable to a specific Fund, are applied to that Fund within the Trust. Other expenses which cannot be attributed to a specific Fund are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative net assets of the Funds within the Trust.
Foreign Currency Translation
The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies as well as investment securities and other assets and liabilities denominated in a foreign currency are translated to U.S. dollars using exchange rates at period end. Purchases and sales of securities, income receipts and expense payments denominated in foreign currencies are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions.
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
Foreign Taxes
The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with SSGA FM’s understanding of the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in the Statement of Operations, if applicable. Foreign taxes payable or deferred as of March 31, 2018, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
Equalization
The Funds in the Trust follow the accounting practice known as “Equalization” by which a portion of the proceeds from sales and costs of reacquiring Fund shares, equivalent on a per share basis to the amount of distributable net investment income on the date of the transaction, is credited or charged to undistributed net investment income. As a result, undistributed net investment income per share is unaffected by sales or reacquisition of Fund shares. Amounts related to Equalization can be found on the Statements of Changes in Net Assets.
26
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
Distributions
The SPDR Portfolio Emerging Markets ETF and the SPDR Portfolio Developed World Ex-US ETF declare and distribute from net investment income, if any, to their shareholders semi-annually.
Net realized capital gains, if any, are distributed annually. Dividends may be declared and paid more frequently or at any other times to improve index tracking or to comply with the distribution requirements of the Internal Revenue Code. The amount and character of income and capital gains to be distributed are determined in accordance with applicable tax regulations which may differ from net investment income and realized gains recognized for U.S. GAAP purposes.
3. Derivative Financial Instruments
Futures Contracts
The Funds may enter into futures contracts to meet the Funds’ objectives. A futures contract is a standardized, exchange-traded agreement to buy or sell a financial instrument at a set price on a future date. Upon entering into a futures contract, the Fund is required to deposit with the broker, cash or securities in an amount equal to the minimum initial margin requirements of the clearing house. Subsequent payments are made or received by the Funds equal to the daily change in the contract value and are recorded as variation margin receivable or payable with a corresponding offset to unrealized gains or losses. The Funds recognize a realized gain or loss when the contract is closed.
Losses may arise if the value of a futures contract decreases due to unfavorable changes in the market rates or values of the underlying instrument during the term of the contract or if the counterparty does not perform under the contract. The use of futures contracts also involves the risk that the movements in the price of the futures contracts do not correlate with the movement of the assets underlying such contracts.
For the period ended March 31, 2018, the SPDR Portfolio Emerging Markets ETF entered into futures contracts for return enhancement, hedging and exposing cash reserves to markets.
27
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
The following tables summarize the value of the Fund’s derivative instruments as of March 31, 2018, and the related location in the accompanying Statements of Assets and Liabilities and Statements of Operations, presented by primary underlying risk exposure:
Asset Derivatives | ||||||||||||||||||||||||||||||
Interest Rate Contracts Risk | Foreign Exchange Contracts Risk | Credit Contracts Risk | Equity Contracts Risk | Commodity Contracts Risk | Total | |||||||||||||||||||||||||
SPDR Portfolio Emerging Markets ETF | ||||||||||||||||||||||||||||||
Futures Contracts | $ | — | $ | — | $ | — | $ | 6,831 | $ | — | $ | 6,831 | ||||||||||||||||||
Net Realized Gain (Loss) | ||||||||||||||||||||||||||||||
Interest Rate Contracts Risk | Foreign Exchange Contracts Risk | Credit Contracts Risk | Equity Contracts Risk | Commodity Contracts Risk | Total | |||||||||||||||||||||||||
SPDR Portfolio Emerging Markets ETF | ||||||||||||||||||||||||||||||
Futures Contracts | $ | — | $ | — | $ | — | $ | 29,690 | $ | — | $ | 29,690 | ||||||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||||||||
Interest Rate Contracts Risk | Foreign Exchange Contracts Risk | Credit Contracts Risk | Equity Contracts Risk | Commodity Contracts Risk | Total | |||||||||||||||||||||||||
SPDR Portfolio Emerging Markets ETF | ||||||||||||||||||||||||||||||
Futures Contracts | $ | — | $ | — | $ | — | $ | 2,903 | $ | — | $ | 2,903 |
4. | Fees and Transactions with Affiliates |
Advisory Fee
The Trust, on behalf of each Fund, has entered into an Investment Advisory Agreement (the “Agreement”) with SSGA FM. For its advisory services to the Funds, facilities furnished, and expenses borne by the Adviser, each Fund pays the Adviser a fee accrued
28
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
daily and paid quarterly, based on a percentage of each Fund’s average daily net assets as shown in the following table:
Annual Rate | ||||
SPDR Portfolio Emerging Markets ETF | 0.11 | %(1) | ||
SPDR Portfolio Developed World ex-US ETF | 0.04 | (2) |
(1) | Effective October 16, 2017, the advisory fee of the Fund was reduced from 0.59% to 0.11% of the Fund’s average daily net assets. |
(2) | Effective October 16, 2017, the advisory fee of the Fund was reduced from 0.34% to 0.04% of the Fund’s average daily net assets. |
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 expenses, taxes, interest, fees and expenses of the Independent Trustees (including any Trustees’ counsel fees, acquired fund fees and expenses, litigation expenses and other extraordinary expenses).
Administrator, Custodian, Sub-Administrator and Transfer Agent Fees
SSGA FM serves as administrator and State Street Bank and Trust Company (“State Street”), an affiliate of the Adviser, serves as custodian, sub-administrator and transfer agent. State Street receives fees for its services as custodian, sub-administrator and transfer agent from the Adviser.
Distributor
State Street Global Advisors Funds Distributors, LLC (“SSGA FD” or the “Distributor”), an affiliate of the Adviser, serves as the Distributor of the Trust.
Other Transactions with Affiliates - Securities Lending
State Street, an affiliate of the Funds, acts as the securities lending agent for the Funds, pursuant to an amended and restated securities lending authorization agreement dated January 6, 2017.
Proceeds collected by State Street on investment of cash collateral or any fee income are allocated as follows (after deduction of such other amounts payable to State Street under the terms of the securities lending agreement): 85% payable to the Fund, and 15% payable to State Street.
29
Table of Contents
SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
In addition, cash collateral from lending activities is invested in the State Street Navigator Securities Lending Government Money Market Portfolio, an affiliated money market fund, for which SSGA FM serves as investment adviser. See Note 9 for additional information regarding securities lending.
Other Transactions with Affiliates
The Funds may invest in affiliated entities, including securities issued by State Street Corporation, affiliated funds, or entities deemed to be affiliates as a result of the Funds owning more than five percent of the entity’s voting securities or outstanding shares. Amounts relating to these transactions during the period ended March 31, 2018, are disclosed in the Schedules of Investments.
Due to Custodian
In certain circumstances, the Funds may have cash overdraft with the custodian. The Due to Custodian amount, if any, reflects cash overdrawn with State Street as custodian who is an affiliate of the Funds. As of March 31, 2018, the SPDR PortfolioWorld ex-US ETF has a cash overdraft related to investment operations of the Fund.
5. | Trustees’ Fees |
The fees and expenses of the Trust’s trustees, who are not “interested persons” of the Trust, as defined in the 1940 Act (“Independent Trustees”), are paid directly by the Funds. The Independent Trustees are reimbursed for travel and other out-of-pocket expenses in connection with meeting attendance and industry seminars.
6. | Investment Transactions |
Purchases and sales of investments (excluding in-kind transactions, short term investments and derivative contracts) for the period ended March 31, 2018, were as follows:
Purchases | Sales | |||||||
SPDR Portfolio Emerging Markets ETF | $ | 338,940,558 | $ | 2,709,680 | ||||
SPDR Portfolio Developed World ex-US ETF | 120,697,892 | 18,969,637 |
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
For the period ended March 31, 2018, the following Funds had in-kind contributions, redemptions and net realized gains/losses in the amounts as follows:
In-kind Contributions | In-kind Redemptions | In-kind Net Realized Gains/(Losses) | |||||||||||||
SPDR Portfolio Emerging Markets ETF | $ | 777,055,906 | $ | — | $ | — | |||||||||
SPDR Portfolio Developed World ex-US ETF | 1,479,266,987 | 4,148 | (264 | ) |
7. | Shareholder Transactions |
Each Fund issues and redeems its shares, at NAV, by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”). Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets.
The consideration for the purchase of Creation Units of a Fund may consist of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to the Trust and/or custodian, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. An additional variable fee may be charged for certain transactions. Such variable charges, if any, are included in “Other Capital” on the Statements of Changes on Net Assets.
8. | Income Tax Information |
The Funds have qualified and intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code of 1986, as amended. Each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. Therefore, no provision for federal income tax is required.
The Funds file federal and various state and local tax returns as required. No income tax returns are currently under examination. Generally, the federal returns are subject to examination by the Internal Revenue Service for a period of three years from date of filing, while the state returns may remain open for an additional year depending upon jurisdiction. As of September 30, 2017, SSGA FM has analyzed each Fund’s tax positions taken on tax returns for all open years and does not believe there are any uncertain tax positions that would require recognition of a tax liability.
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
Distributions to shareholders are recorded on ex-dividend date. Income dividends and gain distributions are determined in accordance with income tax rules and regulations, which may differ from generally accepted accounting principles.
As of March 31, 2018, gross unrealized appreciation and gross unrealized depreciation of investments and other financial instruments based on cost for federal income tax purposes were as follows:
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |||||||||||||
SPDR Portfolio Emerging Markets ETF | $ | 1,672,688,489 | $ | 143,619,808 | $ | 66,405,261 | $ | 77,214,547 | ||||||||
SPDR Portfolio Developed World ex-US ETF | 2,585,949,835 | 164,888,248 | 110,957,199 | 53,931,049 |
9. | Securities Lending |
Each Fund may lend securities to qualified broker-dealers or institutional investors. The loans are secured at all times by cash, cash equivalents or U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. The value of the collateral with respect to a loaned security may be temporarily more or less than the value of a security due to market fluctuations of securities values. With respect to each loan, if on any U.S. business day the aggregate market value of securities collateral plus cash collateral is less than the aggregate market value of the securities which are subject to the loan, the borrower will be notified to provide additional collateral on the next business day.
The Funds will regain record ownership of loaned securities to exercise certain beneficial rights; however, the Funds may bear the risk of delay in recovery of, or even loss of rights in the securities loaned should the borrower fail financially. In addition, a Fund will bear the risk of loss of any cash collateral that it may invest. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash, cash equivalents or U.S. government securities held as collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as the lending agent. Additionally, a Fund will receive a fee from the borrower for non-cash collateral equal to a percentage of the market value of the loaned securities.
The market value of securities on loan as of March 31, 2018, and the value of the invested cash collateral are disclosed in the Funds’ Statements of Assets and Liabilities. Non-cash collateral is not disclosed in the Funds’ Statements of Assets and Liabilities as
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
it is held by the lending agent on behalf of the Funds, and the Funds do not have the ability to re-hypothecate those securities. Securities lending income, as disclosed in the Funds’ Statements of Operations, represents the income earned from the non-cash collateral and the investment of cash collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent.
The following is a summary of each Fund’s securities lending agreements and related cash and non-cash collateral received as of March 31, 2018:
Fund | Market Value of Securities on Loan | Cash Collateral Received | Non Cash Collateral Received* | Total Collateral Received | ||||||||||||||||
SPDR Portfolio Emerging Markets ETF | $ | 100,219,647 | $ | 37,930,341 | $ | 66,812,162 | $ | 104,742,503 | ||||||||||||
SPDR Portfolio Developed World ex-US ETF | 97,149,903 | 65,277,407 | 35,817,530 | 101,094,937 |
* | The non-cash collateral includes U.S. Treasuries and U.S. Government Agency securities. |
The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged or securities loaned, and the remaining contractual maturity of those transactions as of March 31, 2018:
Remaining Contractual Maturity of the Agreements As of March 31, 2018 | ||||||||||||||||||||||||||||||||
Fund | Securities Lending | Overnight and Continuous | <30 Days | Between 30 & 90 Days | >90 Days | Total Borrowings | Gross Amount of Recognized Liabilities for Securities Lending Transactions | |||||||||||||||||||||||||
SPDR Portfolio Emerging Markets ETF | Common Stocks | $ | 37,930,341 | $ | — | $ | — | $ | — | $ | 37,930,341 | $ | 37,930,341 | |||||||||||||||||||
SPDR Portfolio Developed World ex-US ETF | Common Stocks | 65,277,407 | — | — | — | 65,277,407 | 65,277,407 |
10. | Line of Credit |
Certain Funds and other affiliated funds (each a “Participant” and, collectively, the “Participants”) participate in a $500 million revolving credit facility provided by a syndication of banks under which the Participants may borrow to fund shareholder redemptions. This agreement expires in October 2018 unless extended or renewed.
The SPDR Portfolio Emerging Markets ETF participates in the credit facility as of period ended March 31, 2018.
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
The Participants are charged an annual commitment fee which is calculated based on the unused portion of the shared credit line. Commitment fees are allocated among each of the Participants based on relative net assets. Commitment fees are ordinary fund operating expenses paid by the Adviser. A Participant incurs and pays the interest expense related to its borrowing. Interest is calculated at a rate per annum equal to the sum of 1% plus the greater of the New York Fed Bank Rate and 1-month LIBOR rate.
Prior to October 12, 2017, the Funds and other affiliated funds participated in a $360 million revolving credit facility.
The Fund had no outstanding loans as of March 31, 2018.
11. | Risks |
Concentration Risk
As a result of the Funds’ ability to invest a large percentage of their assets in obligations of issuers within the same country, state, region, currency or economic sector, an adverse economic, business or political development may affect the value of the Funds’ investments more than if the Funds were more broadly diversified.
Foreign and Emerging Markets Risk
Investing in foreign markets involves risks and considerations not typically associated with investing in the U.S. Foreign securities may be subject to risk of loss because of government regulation, economic, political and social instability in the countries in which the Funds invest. Foreign markets may be less liquid than investments in the U.S. and may be subject to the risks of currency fluctuations. To the extent that a Fund invests in securities of issuers located in emerging markets, these risks may be even more pronounced.
Market and Credit Risk
In the normal course of business, the Funds trade financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the general economic conditions and fluctuations of the market (market risk). Additionally, a Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which the Fund has unsettled or open transactions defaults.
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
12. | Stock Split |
The Board authorized a 2-for-1 split for the SPDR Portfolio Emerging Markets ETF, effective after the close of trading on October 13, 2017 for the shareholders of record on October 11, 2017. The impact of the stock split was to increase the number of shares outstanding by a factor of 2, while decreasing the NAV of shares outstanding by a factor of 2, resulting in no effect to the net assets of the aforementioned Fund.
13. | Subsequent Events |
Management has evaluated the impact of all subsequent events on the Funds through the date on which the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements.
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OTHER INFORMATION
March 31, 2018 (Unaudited)
Expense Example
As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads), if applicable, on purchase payments, reinvested dividends, or other distributions and (2) ongoing costs, including advisory fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. It is based on an investment of $1,000 made at the beginning of the period shown and held for the entire period from October 1, 2017 to March 31, 2018.
The table below illustrates your Fund’s cost in two ways:
Based on actual fund return — This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from each Fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the Fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for the Fund under the heading “Expenses Paid During Period”.
Based on hypothetical 5% return — This section is intended to help you compare your Fund’s costs with those of other mutual funds. It assumes that the Fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case, because the return used is not the Fund’s actual return, the results do not apply to your investment. The example is useful in making comparisons because the U.S. Securities and Exchange Commission (the “SEC”) requires all mutual funds to calculate expenses based on a 5% return. You can assess your Fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as sales load charges (loads). Therefore, the hypothetical 5% return section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.
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SPDR INDEX SHARES FUNDS
OTHER INFORMATION (continued)
March 31, 2018 (Unaudited)
SPDR Portfolio Emerging Markets ETF | SPDR Portfolio Developed World ex-US ETF | |||||||||
Annualized Expense Ratio | 0.13 | % | 0.06 | % | ||||||
Actual: | ||||||||||
Ending Account Value | $ | 1,082.00 | $ | 1,029.30 | ||||||
Expenses Paid During Period(a) | 0.67 | 0.30 | ||||||||
Hypothetical (assuming a 5% return before expenses): | ||||||||||
Ending Account Value | 1,024.30 | 1,024.60 | ||||||||
Expenses Paid During Period(a) | 0.66 | 0.30 |
(a) | Expenses are equal to the Fund’s annualized net expense ratio multiplied by the average account value of the period, multiplied by 182, then divided by 365. |
Premium/Discount Information
Information regarding how often the Shares of each Fund traded on the exchange at a price above (i.e. at a premium) or below (i.e. at a discount) the NAV of the Fund during the past calendar year can be found at www.spdrs.com.
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 SEC’s website, at www.sec.gov.
Information regarding how the investment adviser voted for the prior 12-month period ended June 30, is available by August 31 of each year by calling the same number 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 investments 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 1-866-787-2257 (toll free) and on the Funds’ website at www.spdrs.com.
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SPDR INDEX SHARES FUNDS
OTHER INFORMATION (continued)
March 31, 2018 (Unaudited)
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 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
SPDR Portfolio Emerging Markets ETF
SPDR Portfolio Developed World ex-US ETF
38
Table of Contents
SPDR® Index Shares Funds
SPDR Index Shares Funds
Trustees
Bonny E. Boatman
Dwight D. Churchill
David M. Kelly
Frank Nesvet, Chairman
James E. Ross
Carl G. Verboncoeur
Investment Manager and Administrator
SSGA Funds Management, Inc.
One Iron Street
Boston, MA 02210
Distributor
State Street Global Advisors Funds
Distributors, LLC
One Iron Street
Boston, MA 02210
Custodian, Sub-Administrator and Transfer Agent
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
Legal Counsel
Morgan, Lewis & Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, DC 20004
Independent Registered Public Accounting Firm
PricewaterhouseCoopers LLP
101 Seaport Boulevard
Suite 500
Boston, MA 02210
Fund Shares are distributed by State Street Global Advisors Funds Distributors, LLC, a wholly-owned subsidiary of State Street Corporation. State Street Global Advisors Funds Distributors, 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.
Table of Contents
SPDR® Index Shares Funds
For more complete information, please call 1.866.787.2257 or visit spdrs.com today.
ssga.com | spdrs.com
The Funds are not sponsored, endorsed, sold, or promoted by Stoxx, S&P Dow Jones Indices LLC, MSCI Inc., and Russell Investment Group. Neither do these companies make any representation regarding the advisability of investing in the Funds. The Funds are distributed by State Street Global Advisors Funds Distributors, LLC, an indirect wholly-owned subsidiary of State Street Corporation. State Street Global Advisors Funds Distributors, LLC is a member of FINRA, SIPC. 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 adviser, administrator and securities lending agent.
Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain
purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly-owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.
Before investing, consider the Funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting www.spdrs.com. Please read the prospectus carefully before you invest.
State Street Global Advisors | © 2018 State Street Corporation - All Rights Reserved 0515 Exp. Date: 11/30/2018 SPDRPTSAR |
Table of Contents
Semi-Annual Report
March 31, 2018
SPDR® Index Shares Funds
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.
Table of Contents
Table of Contents
TABLE OF CONTENTS (UNAUDITED )
Portfolio Statistics (Unaudited) | ||||
4 | ||||
5 | ||||
6 | ||||
7 | ||||
8 | ||||
9 | ||||
10 | ||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF (EEMX) | 11 | |||
12 | ||||
13 | ||||
14 | ||||
15 | ||||
16 | ||||
17 | ||||
18 | ||||
19 | ||||
20 | ||||
23 | ||||
35 | ||||
39 | ||||
42 | ||||
52 | ||||
62 | ||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF (EEMX) | 70 | |||
SPDR MSCI Emerging Markets StrategicFactorsSM ETF (QEMM) (Summary) | 76 | |||
79 | ||||
82 | ||||
89 | ||||
93 | ||||
96 | ||||
107 | ||||
110 | ||||
114 | ||||
129 | ||||
145 | ||||
155 |
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.
Table of Contents
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
ASR Nederland NV | 1.9% | |||||
Ipsen SA | 1.7 | |||||
Merlin Properties Socimi SA | 1.7 | |||||
Delivery Hero AG | 1.6 | |||||
Aalberts Industries NV | 1.5 | |||||
Bollore SA | 1.5 | |||||
Sartorius AG Preference Shares | 1.4 | |||||
Gemalto NV | 1.4 | |||||
Elis SA | 1.4 | |||||
FinecoBank Banca Fineco SpA | 1.4 | |||||
TOTAL | 15.5% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Financials | 19.0% | |||||
Industrials | 17.8 | |||||
Consumer Discretionary | 13.5 | |||||
Information Technology | 10.2 | |||||
Health Care | 8.7 | |||||
Consumer Staples | 8.4 | |||||
Real Estate | 8.1 | |||||
Materials | 5.4 | |||||
Telecommunication Services | 4.3 | |||||
Energy | 2.5 | |||||
Utilities | 1.8 | |||||
Short-Term Investments | 4.9 | |||||
Liabilities in Excess of Other Assets | (4.6) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
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Table of Contents
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Apple, Inc. | 1.6% | |||||
Microsoft Corp. | 1.3 | |||||
Amazon.com, Inc. | 1.2 | |||||
JPMorgan Chase & Co. | 0.9 | |||||
Bank of America Corp. | 0.7 | |||||
Alphabet, Inc. | 0.7 | |||||
Alphabet, Inc. | 0.7 | |||||
Tencent Holdings, Ltd. | 0.7 | |||||
Visa, Inc. | 0.6 | |||||
Cisco Systems, Inc. | 0.6 | |||||
TOTAL | 9.0% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Information Technology | 18.3% | |||||
Financials | 17.5 | |||||
Industrials | 13.1 | |||||
Consumer Discretionary | 11.8 | |||||
Health Care | 11.0 | |||||
Consumer Staples | 7.4 | |||||
Energy | 6.2 | |||||
Materials | 5.3 | |||||
Real Estate | 3.6 | |||||
Telecommunication Services | 2.9 | |||||
Utilities | 2.3 | |||||
Short-Term Investments | 2.0 | |||||
Liabilities in Excess of Other Assets | (1.4) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
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Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Apple, Inc. | 1.9% | |||||
Microsoft Corp. | 1.5 | |||||
Amazon.com, Inc. | 1.3 | |||||
JPMorgan Chase & Co. | 0.9 | |||||
Facebook, Inc. | 0.8 | |||||
Johnson & Johnson | 0.8 | |||||
Alphabet, Inc. | 0.7 | |||||
Bank of America Corp. | 0.7 | |||||
Tencent Holdings, Ltd. | 0.7 | |||||
Alphabet, Inc. | 0.7 | |||||
TOTAL | 10.0% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Financials | 19.7% | |||||
Information Technology | 18.7 | |||||
Industrials | 12.8 | |||||
Consumer Discretionary | 12.3 | |||||
Health Care | 10.5 | |||||
Consumer Staples | 8.5 | |||||
Energy | 4.0 | |||||
Materials | 3.8 | |||||
Telecommunication Services | 3.3 | |||||
Real Estate | 3.0 | |||||
Utilities | 2.6 | |||||
Short-Term Investments | 1.8 | |||||
Liabilities in Excess of Other Assets | (1.0) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
3
Table of Contents
SPDR MSCI CANADA STRATEGIC FACTORSSM ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Royal Bank of Canada | 4.3% | |||||
Toronto-Dominion Bank | 4.1 | |||||
Canadian Imperial Bank of Commerce | 4.1 | |||||
Bank of Nova Scotia | 3.4 | |||||
Canadian National Railway Co. | 3.3 | |||||
Sun Life Financial, Inc. | 3.2 | |||||
Magna International, Inc. | 2.7 | |||||
CGI Group, Inc. | 2.7 | |||||
�� | Bank of Montreal | 2.7 | ||||
Intact Financial Corp. | 2.7 | |||||
TOTAL | 33.2% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Financials | 39.4% | |||||
Energy | 12.8 | |||||
Consumer Staples | 9.6 | |||||
Consumer Discretionary | 8.7 | |||||
Industrials | 7.7 | |||||
Materials | 7.0 | |||||
Information Technology | 5.7 | |||||
Telecommunication Services | 4.0 | |||||
Utilities | 2.9 | |||||
Real Estate | 1.7 | |||||
Health Care | 0.3 | |||||
Short-Term Investments | 4.1 | |||||
Liabilities in Excess of Other Assets | (3.9) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
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Table of Contents
SPDR MSCI CHINA A SHARES IMI ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Kweichow Moutai Co., Ltd. | 2.8% | |||||
Ping An Insurance Group Co. of China, Ltd. | 2.3 | |||||
China Merchants Bank Co., Ltd. | 2.0 | |||||
Industrial Bank Co., Ltd. | 1.6 | |||||
Hangzhou Hikvision Digital Technology Co., Ltd. | 1.4 | |||||
Midea Group Co., Ltd. | 1.3 | |||||
Shanghai Pudong Development Bank Co., Ltd. | 1.3 | |||||
China Vanke Co., Ltd. | 1.2 | |||||
Agricultural Bank of China, Ltd. | 1.0 | |||||
Bank of China, Ltd. | 1.0 | |||||
TOTAL | 15.9% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||||
Financials | 19.8% | |||||||
Industrials | 18.6 | |||||||
Consumer Discretionary | 11.7 | |||||||
Materials | 11.1 | |||||||
Information Technology | 10.3 | |||||||
Consumer Staples | 9.2 | |||||||
Health Care | 6.6 | |||||||
Real Estate | 5.6 | |||||||
Utilities | 2.7 | |||||||
Energy | 2.6 | |||||||
Telecommunication Services | 0.3 | |||||||
Short-Term Investment | 0.0* | |||||||
Other Assets in Excess of Liabilities | 1.5 | |||||||
TOTAL | 100.0% | |||||||
* | Amount shown represents less than 0.05% of net assets. |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
5
Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Nestle SA | 1.8% | |||||
HSBC Holdings PLC | 1.4 | |||||
Novartis AG | 1.3 | |||||
Toyota Motor Corp. | 1.3 | |||||
Roche Holding AG | 1.2 | |||||
British American Tobacco PLC | 1.0 | |||||
Banco Santander SA | 0.8 | |||||
SAP SE | 0.8 | |||||
AIA Group, Ltd. | 0.8 | |||||
Allianz SE | 0.8 | |||||
TOTAL | 11.2% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Financials | 23.0% | |||||
Industrials | 15.8 | |||||
Consumer Discretionary | 13.7 | |||||
Consumer Staples | 11.9 | |||||
Health Care | 11.2 | |||||
Information Technology | 7.0 | |||||
Materials | 6.5 | |||||
Telecommunication Services | 4.1 | |||||
Real Estate | 3.7 | |||||
Utilities | 2.2 | |||||
Energy | 0.4 | |||||
Short-Term Investments | 2.9 | |||||
Liabilities in Excess of Other Assets | (2.4) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
6
Table of Contents
SPDR MSCI EAFE STRATEGIC FACTORSSM ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Nestle SA | 2.3% | |||||
Roche Holding AG | 2.0 | |||||
Novo Nordisk A/S | 1.2 | |||||
AstraZeneca PLC | 1.2 | |||||
Diageo PLC | 1.1 | |||||
Unilever NV | 1.0 | |||||
SAP SE | 0.9 | |||||
Reckitt Benckiser Group PLC | 0.9 | |||||
Bayer AG | 0.8 | |||||
Novartis AG | 0.8 | |||||
TOTAL | 12.2% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Financials | 18.1% | |||||
Industrials | 14.3 | |||||
Consumer Staples | 14.3 | |||||
Health Care | 13.5 | |||||
Consumer Discretionary | 12.4 | |||||
Materials | 5.7 | |||||
Telecommunication Services | 5.5 | |||||
Information Technology | 5.3 | |||||
Utilities | 4.5 | |||||
Real Estate | 3.3 | |||||
Energy | 2.5 | |||||
Short-Term Investments | 2.5 | |||||
Liabilities in Excess of Other Assets | (1.9) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
7
Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Tencent Holdings, Ltd. | 6.0% | |||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 4.4 | |||||
Alibaba Group Holding, Ltd. ADR | 4.2 | |||||
Samsung Electronics Co., Ltd. | 4.1 | |||||
Naspers, Ltd. | 2.2 | |||||
China Construction Bank Corp. | 1.7 | |||||
Baidu, Inc. ADR | 1.3 | |||||
Industrial & Commercial Bank of China, Ltd. | 1.2 | |||||
China Mobile, Ltd. | 1.2 | |||||
Itau Unibanco Holding SA Preference Shares | 1.0 | |||||
TOTAL | 27.3% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Information Technology | 27.7% | |||||
Financials | 25.5 | |||||
Consumer Discretionary | 9.1 | |||||
Consumer Staples | 6.7 | |||||
Materials | 6.3 | |||||
Industrials | 5.0 | |||||
Telecommunication Services | 4.9 | |||||
Real Estate | 2.8 | |||||
Health Care | 2.4 | |||||
Utilities | 2.1 | |||||
Energy | 0.8 | |||||
Short-Term Investments | 6.7 | |||||
Other Assets in Excess of Liabilities | 0.0 | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
8
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGIC FACTORSSM ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 2.9% | |||||
Tencent Holdings, Ltd. | 2.2 | |||||
China Mobile, Ltd. | 2.1 | |||||
Hon Hai Precision Industry Co., Ltd. | 1.9 | |||||
China Construction Bank Corp. | 1.6 | |||||
Ambev SA ADR | 1.2 | |||||
Samsung Electronics Co., Ltd. GDR | 1.2 | |||||
Industrial & Commercial Bank of China, Ltd. | 1.1 | |||||
Bank of China, Ltd. | 1.1 | |||||
Tata Consultancy Services, Ltd. | 1.1 | |||||
TOTAL | 16.4% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Information Technology | 23.6% | |||||
Financials | 23.5 | |||||
Consumer Staples | 11.0 | |||||
Consumer Discretionary | 9.0 | |||||
Telecommunication Services | 7.9 | |||||
Energy | 6.6 | |||||
Industrials | 4.7 | |||||
Health Care | 4.1 | |||||
Materials | 3.9 | |||||
Utilities | 3.7 | |||||
Real Estate | 1.4 | |||||
Short-Term Investments | 2.0 | |||||
Liabilities in Excess of Other Assets | (1.4) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
9
Table of Contents
SPDR MSCI GERMANY STRATEGIC FACTORSSM ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 5.1% | |||||
BASF SE | 4.8 | |||||
Siemens AG | 4.5 | |||||
Allianz SE | 4.5 | |||||
Daimler AG | 4.3 | |||||
SAP SE | 3.9 | |||||
Bayer AG | 3.9 | |||||
Deutsche Post AG | 3.6 | |||||
Beiersdorf AG | 3.1 | |||||
Continental AG | 3.1 | |||||
TOTAL | 40.8% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Consumer Discretionary | 21.2% | |||||
Industrials | 17.1 | |||||
Financials | 13.8 | |||||
Materials | 13.1 | |||||
Health Care | 8.9 | |||||
Information Technology | 8.8 | |||||
Consumer Staples | 6.9 | |||||
Utilities | 4.0 | |||||
Telecommunication Services | 3.3 | |||||
Real Estate | 1.9 | |||||
Short-Term Investment | 0.1 | |||||
Other Assets in Excess of Liabilities | 0.9 | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
10
Table of Contents
SPDR MSCI JAPAN STRATEGIC FACTORSSM ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Toyota Motor Corp. | 2.6% | |||||
Astellas Pharma, Inc. | 2.5 | |||||
Kao Corp. | 2.4 | |||||
NTT DOCOMO, Inc. | 2.4 | |||||
KDDI Corp. | 2.3 | |||||
Keyence Corp. | 2.3 | |||||
Recruit Holdings Co., Ltd. | 2.0 | |||||
Bridgestone Corp. | 1.9 | |||||
Japan Tobacco, Inc. | 1.9 | |||||
Oriental Land Co., Ltd. | 1.8 | |||||
TOTAL | 22.1% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Consumer Discretionary | 20.6% | |||||
Industrials | 18.2 | |||||
Consumer Staples | 10.9 | |||||
Health Care | 10.8 | |||||
Financials | 10.3 | |||||
Information Technology | 9.5 | |||||
Telecommunication Services | 6.2 | |||||
Real Estate | 5.8 | |||||
Materials | 3.8 | |||||
Utilities | 2.2 | |||||
Energy | 0.7 | |||||
Short-Term Investments | 10.7 | |||||
Liabilities in Excess of Other Assets | (9.7) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
11
Table of Contents
SPDR MSCI UNITED KINGDOM STRATEGIC FACTORSSM ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
GlaxoSmithKline PLC | 5.8% | |||||
AstraZeneca PLC | 5.2 | |||||
Diageo PLC | 5.1 | |||||
HSBC Holdings PLC | 4.5 | |||||
Unilever PLC | 4.4 | |||||
Reckitt Benckiser Group PLC | 4.2 | |||||
Royal Dutch Shell PLC Class A | 3.9 | |||||
BP PLC | 3.5 | |||||
Compass Group PLC | 2.5 | |||||
Vodafone Group PLC | 2.3 | |||||
TOTAL | 41.4% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Consumer Staples | 19.8% | |||||
Financials | 18.1 | |||||
Health Care | 13.5 | |||||
Consumer Discretionary | 11.9 | |||||
Industrials | 10.4 | |||||
Energy | 9.5 | |||||
Materials | 5.8 | |||||
Telecommunication Services | 4.2 | |||||
Utilities | 4.1 | |||||
Real Estate | 1.2 | |||||
Information Technology | 0.9 | |||||
Short-Term Investments | 0.8 | |||||
Liabilities in Excess of Other Assets | (0.2) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
12
Table of Contents
SPDR MSCI WORLD STRATEGIC FACTORSSM ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Apple, Inc. | 2.2% | |||||
Microsoft Corp. | 2.1 | |||||
Johnson & Johnson | 1.8 | |||||
Visa, Inc. | 1.1 | |||||
Procter & Gamble Co. | 1.1 | |||||
Alphabet, Inc. | 1.0 | |||||
Intel Corp. | 1.0 | |||||
Alphabet, Inc. | 1.0 | |||||
Roche Holding AG | 0.9 | |||||
Altria Group, Inc. | 0.8 | |||||
TOTAL | 13.0% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Information Technology | 19.1% | |||||
Financials | 14.4 | |||||
Health Care | 13.5 | |||||
Industrials | 12.2 | |||||
Consumer Discretionary | 12.0 | |||||
Consumer Staples | 11.2 | |||||
Materials | 4.1 | |||||
Utilities | 3.7 | |||||
Telecommunication Services | 3.7 | |||||
Energy | 3.3 | |||||
Real Estate | 2.4 | |||||
Short-Term Investments | 1.3 | |||||
Liabilities in Excess of Other Assets | (0.9) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
13
Table of Contents
SPDR S&P EMERGING ASIA PACIFIC ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Tencent Holdings, Ltd. | 7.6% | |||||
Alibaba Group Holding, Ltd. ADR | 5.5 | |||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 4.2 | |||||
China Construction Bank Corp. | 2.5 | |||||
Industrial & Commercial Bank of China, Ltd. | 1.8 | |||||
Baidu, Inc. ADR | 1.7 | |||||
China Mobile, Ltd. | 1.4 | |||||
Ping An Insurance Group Co. of China, Ltd. | 1.4 | |||||
Hon Hai Precision Industry Co., Ltd. | 1.3 | |||||
Reliance Industries, Ltd. GDR | 1.3 | |||||
TOTAL | 28.7% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Information Technology | 31.8% | |||||
Financials | 23.0 | |||||
Consumer Discretionary | 8.6 | |||||
Energy | 5.9 | |||||
Industrials | 5.6 | |||||
Materials | 5.6 | |||||
Consumer Staples | 5.5 | |||||
Telecommunication Services | 4.2 | |||||
Real Estate | 4.1 | |||||
Health Care | 3.4 | |||||
Utilities | 2.2 | |||||
Short-Term Investment | 1.1 | |||||
Liabilities in Excess of Other Assets | (1.0) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
14
Table of Contents
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
�� | EDP - Energias de Portugal SA | 1.7% | ||||
Enbridge Income Fund Holdings, Inc. | 1.7 | |||||
Fortum Oyj | 1.6 | |||||
GlaxoSmithKline PLC | 1.6 | |||||
Enagas SA | 1.4 | |||||
Truworths International, Ltd. | 1.4 | |||||
Greene King PLC | 1.3 | |||||
RioCan Real Estate Investment Trust REIT | 1.3 | |||||
SCANA Corp. | 1.3 | |||||
TOTAL SA | 1.3 | |||||
TOTAL | 14.6% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of March 31, 2018
% of Net Assets | ||||||
Financials | 22.5% | |||||
Utilities | 21.9 | |||||
Real Estate | 10.9 | |||||
Consumer Discretionary | 9.3 | |||||
Consumer Staples | 7.9 | |||||
Industrials | 6.9 | |||||
Telecommunication Services | 6.8 | |||||
Energy | 5.5 | |||||
Health Care | 4.1 | |||||
Information Technology | 1.8 | |||||
Materials | 1.5 | |||||
Short-Term Investments | 10.6 | |||||
Liabilities in Excess of Other Assets | (9.7) | |||||
TOTAL | 100.0% |
(The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
15
Table of Contents
SPDR S&P GLOBAL INFRASTRUCTURE ETF
PORTFOLIO STATISTICS (UNAUDITED)
Top Ten Holdings as of March 31, 2018
Description | % of Net Assets | |||||
Abertis Infraestructuras SA | 5.1% | |||||
Transurban Group Stapled Security | 4.9 | |||||
Aena SME SA | 4.4 | |||||
Atlantia SpA | 4.3 | |||||
NextEra Energy, Inc. | 4.0 | |||||
Enbridge, Inc. | 4.0 | |||||
TransCanada Corp. | 3.0 | |||||
Duke Energy Corp. | 2.8 | |||||
Enel SpA | 2.5 | |||||
Southern Co. | 2.3 | |||||
TOTAL | 37.3% |
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of March 31, 2018
% of Net Assets | ||||||
Transportation Infrastructure | 39.5% | |||||
Electric Utilities | 25.4 | |||||
Oil, Gas & Consumable Fuels | 19.7 | |||||
Multi-Utilities | 13.2 | |||||
Gas Utilities | 1.3 | |||||
Water Utilities | 0.6 | |||||
Independent Power Producers & Energy Traders | 0.2 | |||||
Short-Term Investments | 1.1 | |||||
Liabilities in Excess of Other Assets | (1.0) | |||||
TOTAL | 100.0% |
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
16
Table of Contents
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.6% | ||||||||
AUSTRIA — 2.1% | ||||||||
BUWOG AG | 14,135 | $ | 505,177 | |||||
Wienerberger AG | 14,713 | 367,686 | ||||||
|
| |||||||
872,863 | ||||||||
|
| |||||||
BELGIUM — 7.2% | ||||||||
Ablynx NV (a) | 9,453 | 518,277 | ||||||
Ackermans & van Haaren NV | 2,787 | 487,404 | ||||||
bpost SA | 12,259 | 276,809 | ||||||
Cofinimmo SA REIT | 2,587 | 335,343 | ||||||
Colruyt SA | 7,091 | 391,741 | ||||||
Galapagos NV (a) (b) | 5,561 | 556,027 | ||||||
Telenet Group Holding NV (a) | 6,467 | 431,474 | ||||||
|
| |||||||
2,997,075 | ||||||||
|
| |||||||
FINLAND — 4.8% | ||||||||
Amer Sports Oyj (a) | 14,928 | 460,265 | ||||||
Kesko Oyj Class B | 8,599 | 492,394 | ||||||
Konecranes Oyj | 8,392 | 363,709 | ||||||
Metso Oyj (b) | 13,417 | 422,588 | ||||||
Outokumpu Oyj (b) | 40,226 | 274,174 | ||||||
|
| |||||||
2,013,130 | ||||||||
|
| |||||||
FRANCE — 26.3% | ||||||||
Air France-KLM (a) | 35,384 | 392,088 | ||||||
Altran Technologies SA (b) | 19,728 | 291,635 | ||||||
Amundi SA (c) | 6,192 | 496,970 | ||||||
BioMerieux | 5,368 | 442,323 | ||||||
Bollore SA | 113,507 | 604,453 | ||||||
Bollore SA (a) | 248 | 1,315 | ||||||
Casino Guichard Perrachon SA (b) | 6,892 | 337,435 | ||||||
Christian Dior SE | 1,130 | 445,965 | ||||||
Cie Plastic Omnium SA | 8,020 | 383,686 | ||||||
CNP Assurances | 19,862 | 500,759 | ||||||
Dassault Aviation SA | 293 | 558,897 | ||||||
Elior Group SA (c) | 13,412 | 291,297 | ||||||
Elis SA | 24,075 | 595,134 | ||||||
Eurazeo SA | 5,390 | 495,510 | ||||||
Eutelsat Communications SA | 17,304 | 342,629 | ||||||
Fonciere Des Regions REIT | 4,359 | 480,606 | ||||||
ICADE REIT | 3,943 | 382,610 | ||||||
Imerys SA | 4,080 | 395,904 | ||||||
Ipsen SA | 4,589 | 711,963 | ||||||
JCDecaux SA | 9,577 | 332,854 | ||||||
Lagardere SCA | 13,064 | 372,749 | ||||||
Remy Cointreau SA | 2,799 | 398,624 | ||||||
SEB SA | 3,090 | 589,797 | ||||||
Societe BIC SA | 3,271 | 325,247 | ||||||
Sopra Steria Group | 2,065 | 420,819 | ||||||
SPIE SA | 15,103 | 333,783 | ||||||
|
| |||||||
10,925,052 | ||||||||
|
| |||||||
GERMANY — 22.7% | ||||||||
1&1 Drillisch AG | 5,911 | 398,013 | ||||||
Aareal Bank AG | 7,494 | 357,047 | ||||||
Aroundtown SA | 71,326 | 552,638 | ||||||
Aurubis AG | 4,742 | 398,206 | ||||||
Axel Springer SE | 5,846 | 488,900 |
Security Description | Shares | Value | ||||||
Delivery Hero AG (a) (c) | 13,448 | $ | 649,984 | |||||
Duerr AG | 3,084 | 338,095 | ||||||
Fraport AG Frankfurt Airport Services Worldwide | 4,689 | 461,918 | ||||||
Freenet AG | 16,128 | 490,124 | ||||||
Fuchs Petrolub SE Preference Shares | 8,753 | 474,731 | ||||||
Gerresheimer AG | 3,931 | 322,222 | ||||||
GRENKE AG | 3,184 | 337,154 | ||||||
Hella GmbH & Co. KGaA | 5,517 | 362,324 | ||||||
HOCHTIEF AG | 2,291 | 427,428 | ||||||
METRO AG | 21,077 | 373,011 | ||||||
Sartorius AG Preference Shares | 4,302 | 600,508 | ||||||
Schaeffler AG Preference Shares | 20,782 | 320,379 | ||||||
Scout24 AG (c) | 12,228 | 569,061 | ||||||
Siltronic AG (a) | 2,613 | 445,887 | ||||||
Software AG | 6,440 | 336,769 | ||||||
Telefonica Deutschland Holding AG | 79,393 | 372,600 | ||||||
Wacker Chemie AG | 2,187 | 358,669 | ||||||
|
| |||||||
9,435,668 | ||||||||
|
| |||||||
IRELAND — 2.5% | ||||||||
AIB Group PLC | 98,688 | 593,749 | ||||||
Glanbia PLC | 25,540 | 439,746 | ||||||
|
| |||||||
1,033,495 | ||||||||
|
| |||||||
ITALY — 11.1% | ||||||||
A2A SpA | 196,107 | 374,918 | ||||||
Azimut Holding SpA | 13,883 | 297,856 | ||||||
BPER Banca (b) | 54,308 | 302,562 | ||||||
Davide Campari-Milano SpA | 56,911 | 430,451 | ||||||
FinecoBank Banca Fineco SpA | 49,436 | 593,883 | ||||||
Italgas SpA | 61,244 | 365,759 | ||||||
Pirelli & C SpA (a) (c) | 46,183 | 408,947 | ||||||
Poste Italiane SpA (c) | 58,778 | 536,378 | ||||||
Recordati SpA | 12,837 | 473,312 | ||||||
Saipem SpA (a) | 72,028 | 281,873 | ||||||
Unione di Banche Italiane SpA | 116,789 | 533,022 | ||||||
|
| |||||||
4,598,961 | ||||||||
|
| |||||||
LUXEMBOURG — 0.9% | ||||||||
RTL Group SA | 4,818 | 399,670 | ||||||
|
| |||||||
NETHERLANDS — 12.9% | ||||||||
Aalberts Industries NV | 12,072 | 614,062 | ||||||
ASM International NV | 5,915 | 431,091 | ||||||
ASR Nederland NV | 18,495 | 789,744 | ||||||
BE Semiconductor Industries NV | 4,783 | 488,531 | ||||||
Boskalis Westminster | 10,512 | 307,691 | ||||||
Euronext NV (c) | 6,712 | 490,332 | ||||||
Gemalto NV | 9,780 | 597,187 | ||||||
IMCD Group NV | 6,584 | 404,219 | ||||||
Koninklijke Vopak NV | 8,298 | 406,681 | ||||||
Philips Lighting NV (c) | 12,785 | 479,571 | ||||||
SBM Offshore NV | 21,883 | 349,732 | ||||||
|
| |||||||
5,358,841 | ||||||||
|
| |||||||
PORTUGAL — 0.9% | ||||||||
Banco Comercial Portugues SA Class R (a) | 1,127,717 | 377,243 | ||||||
|
|
See accompanying notes to financial statements.
17
Table of Contents
SPDR EURO STOXX SMALL CAP ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SPAIN — 8.2% | ||||||||
Bolsas y Mercados Espanoles SHMSF SA | 9,206 | $ | 311,355 | |||||
Cellnex Telecom SA (c) | 19,254 | 513,609 | ||||||
Distribuidora Internacional de Alimentacion SA (b) | 66,237 | 280,798 | ||||||
Inmobiliaria Colonial Socimi SA REIT | 34,781 | 402,089 | ||||||
Mapfre SA | 124,489 | 413,531 | ||||||
Merlin Properties Socimi SA | 45,953 | 703,051 | ||||||
Siemens Gamesa Renewable Energy SA (b) | 28,255 | 452,611 | ||||||
Viscofan SA (b) | 4,900 | 338,074 | ||||||
|
| |||||||
3,415,118 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 41,427,116 | |||||||
|
| |||||||
RIGHTS — 0.1% | ||||||||
FRANCE — 0.1% | ||||||||
Altran Technologies SA | 19,342 | 32,356 | ||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 4.9% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (d) (e) | 1,789 | 1,789 |
Security Description | Shares | Value | ||||||
State Street Navigator Securities | 2,031,488 | $ | 2,031,488 | |||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| 2,033,277 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 104.6% | 43,492,749 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER |
| (1,928,032 | ) | |||||
|
| |||||||
NET ASSETS — 100.0% | $ | 41,564,717 | ||||||
|
|
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 10.7% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(d) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(e) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(f) | Investment of cash collateral for securities loaned. |
REIT =Real Estate Investment Trust
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Austria | $ 872,863 | $— | $— | $ 872,863 | ||||||||||||||||
Belgium | 2,997,075 | — | — | 2,997,075 | ||||||||||||||||
Finland | 2,013,130 | — | — | 2,013,130 | ||||||||||||||||
France | 10,925,052 | — | — | 10,925,052 | ||||||||||||||||
Germany | 9,435,668 | — | — | 9,435,668 | ||||||||||||||||
Ireland | 1,033,495 | — | — | 1,033,495 | ||||||||||||||||
Italy | 4,598,961 | — | — | 4,598,961 | ||||||||||||||||
Luxembourg | 399,670 | — | — | 399,670 | ||||||||||||||||
Netherlands | 5,358,841 | — | — | 5,358,841 | ||||||||||||||||
Portugal | 377,243 | — | — | 377,243 | ||||||||||||||||
Spain | 3,415,118 | — | — | 3,415,118 | ||||||||||||||||
Rights | ||||||||||||||||||||
France | 32,356 | — | — | 32,356 | ||||||||||||||||
Short-Term Investments | 2,033,277 | — | — | 2,033,277 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 43,492,749 | $— | $— | $ | 43,492,749 | ||||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
18
Table of Contents
SPDR EURO STOXX SMALL CAP ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 720 | $ | 720 | $ | 179,430 | $ | 178,361 | $ | — | $ | — | 1,789 | $ | 1,789 | $ | 42 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | — | — | 3,947,581 | 1,916,093 | — | — | 2,031,488 | 2,031,488 | 3,651 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 720 | $ | 4,127,011 | $ | 2,094,454 | $ | — | $ | — | $ | 2,033,277 | $ | 3,693 | $ | — | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
19
Table of Contents
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.4% | ||||||||
AUSTRALIA — 2.4% | ||||||||
Alumina, Ltd. | 41,540 | $ | 75,197 | |||||
Amcor, Ltd. | 3,583 | 38,944 | ||||||
AMP, Ltd. | 12,597 | 48,216 | ||||||
Australia & New Zealand Banking Group, Ltd. | 2,819 | 58,080 | ||||||
BHP Billiton PLC | 822 | 16,185 | ||||||
BHP Billiton, Ltd. | 3,499 | 75,713 | ||||||
Boral, Ltd. | 16,530 | 94,334 | ||||||
Brambles, Ltd. | 8,403 | 64,326 | ||||||
Coca-Cola Amatil, Ltd. | 4,110 | 27,333 | ||||||
Commonwealth Bank of Australia | 929 | 51,527 | ||||||
CSL, Ltd. | 1,602 | 191,031 | ||||||
Fortescue Metals Group, Ltd. | 6,250 | 20,758 | ||||||
Iluka Resources, Ltd. | 1,663 | 13,470 | ||||||
Insurance Australia Group, Ltd. | 19,207 | 110,201 | ||||||
LendLease Group | 9,913 | 131,621 | ||||||
Macquarie Group, Ltd. | 1,682 | 132,759 | ||||||
National Australia Bank, Ltd. | 3,755 | 82,059 | ||||||
Newcrest Mining, Ltd. | 1,972 | 29,587 | ||||||
Origin Energy, Ltd. (a) | 6,248 | 41,695 | ||||||
Orora, Ltd. | 1,507 | 3,815 | ||||||
OZ Minerals, Ltd. | 6,043 | 41,671 | ||||||
QBE Insurance Group, Ltd. | 2,939 | 21,710 | ||||||
Santos, Ltd. (a) | 7,327 | 28,494 | ||||||
Scentre Group REIT | 8,770 | 25,765 | ||||||
Shopping Centres Australasia Property Group REIT | 94,783 | 169,399 | ||||||
Sonic Healthcare, Ltd. | 4,605 | 80,818 | ||||||
South32, Ltd. (b) | 6,221 | 15,362 | ||||||
Suncorp Group, Ltd. | 6,347 | 64,945 | ||||||
Sydney Airport | 943 | 4,854 | ||||||
Transurban Group Stapled Security | 6,703 | 58,716 | ||||||
Vicinity Centres REIT | 32,610 | 60,283 | ||||||
Wesfarmers, Ltd. | 3,839 | 122,382 | ||||||
Westfield Corp. REIT | 7,039 | 46,002 | ||||||
Westpac Banking Corp. | 4,243 | 93,147 | ||||||
Woodside Petroleum, Ltd. | 1,804 | 40,461 | ||||||
Woolworths, Ltd. | 1,428 | 28,797 | ||||||
|
| |||||||
2,209,657 | ||||||||
|
| |||||||
AUSTRIA — 0.1% | ||||||||
OMV AG | 1,687 | 98,095 | ||||||
|
| |||||||
BELGIUM — 0.3% | ||||||||
Anheuser-Busch InBev SA | 981 | 107,715 | ||||||
Solvay SA | 570 | 79,109 | ||||||
UCB SA | 1,483 | 120,704 | ||||||
|
| |||||||
307,528 | ||||||||
|
| |||||||
BRAZIL — 0.8% | ||||||||
Ambev SA ADR | 12,779 | 92,903 | ||||||
Banco Bradesco SA Preference Shares ADR | 10,314 | 122,530 | ||||||
Cia Energetica de Minas Gerais ADR (c) | 7,152 | 18,452 | ||||||
Cia Siderurgica Nacional SA ADR (a) (c) | 6,276 | 16,506 |
Security Description | Shares | Value | ||||||
Gerdau SA ADR | 5,672 | $ | 26,432 | |||||
Itau Unibanco Holding SA Preference Shares ADR | 8,148 | 127,109 | ||||||
Petroleo Brasileiro SA Preference Shares ADR (a) | 9,465 | 122,951 | ||||||
Petroleo Brasileiro SA ADR (a) | 3,229 | 45,658 | ||||||
Tim Participacoes SA ADR (c) | 2,160 | 46,807 | ||||||
Vale SA ADR (c) | 9,806 | 124,732 | ||||||
|
| |||||||
744,080 | ||||||||
|
| |||||||
CANADA — 2.9% | ||||||||
Aphria, Inc. (a) (c) | 700 | 6,239 | ||||||
Aurora Cannabis, Inc. (a) (c) | 1,000 | 7,213 | ||||||
Bank of Montreal | 921 | 69,522 | ||||||
Bank of Nova Scotia | 1,161 | 71,466 | ||||||
Barrick Gold Corp. | 1,797 | 22,371 | ||||||
Brookfield Asset Management, Inc. Class A | 2,676 | 104,238 | ||||||
Cameco Corp. | 2,394 | 21,744 | ||||||
Canadian Imperial Bank of Commerce (c) | 419 | 36,958 | ||||||
Canadian National Railway Co. | 1,814 | 132,485 | ||||||
Canadian Natural Resources, Ltd. | 1,814 | 56,984 | ||||||
Canadian Pacific Railway, Ltd. | 383 | 67,495 | ||||||
Canadian Tire Corp., Ltd. Class A (c) | 443 | 58,208 | ||||||
Canopy Growth Corp. (a) | 300 | 7,832 | ||||||
Cenovus Energy, Inc. | 2,298 | 19,553 | ||||||
Eldorado Gold Corp. (a) (c) | 2,470 | 2,069 | ||||||
Enbridge, Inc. (b) | 2,052 | 64,493 | ||||||
Enbridge, Inc. (b) (c) | 2,632 | 82,829 | ||||||
Encana Corp. | 3,366 | 36,995 | ||||||
Enerplus Corp. | 2,646 | 29,739 | ||||||
First Majestic Silver Corp. (a) (c) | 8,089 | 49,503 | ||||||
First Quantum Minerals, Ltd. | 1,280 | 17,960 | ||||||
Goldcorp, Inc. | 1,761 | 24,300 | ||||||
IAMGOLD Corp. (a) | 2,658 | 13,772 | ||||||
IGM Financial, Inc. (c) | 707 | 20,658 | ||||||
Imperial Oil, Ltd. | 1,316 | 34,828 | ||||||
Just Energy Group, Inc. | 16,099 | 71,052 | ||||||
Kinross Gold Corp. (a) | 3,893 | 15,370 | ||||||
Loblaw Cos., Ltd. | 1,475 | 74,468 | ||||||
Manulife Financial Corp. | 4,721 | 87,591 | ||||||
National Bank of Canada | 2,489 | 117,070 | ||||||
Nutrien, Ltd. (c) | 1,469 | 69,379 | ||||||
Obsidian Energy, Ltd. (a) | 1,743 | 1,744 | ||||||
Onex Corp. | 1,566 | 112,866 | ||||||
Paramount Resources, Ltd. Class A (a) (c) | 2,907 | 33,439 | ||||||
PrairieSky Royalty, Ltd. (c) | 24 | 524 | ||||||
Rogers Communications, Inc. Class B | 2,494 | 111,309 | ||||||
Royal Bank of Canada | 2,184 | 168,588 | ||||||
Shaw Communications, Inc. Class B | 1,663 | 32,015 | ||||||
SNC-Lavalin Group, Inc. | 1,042 | 45,721 | ||||||
Sun Life Financial, Inc. | 2,573 | 105,594 | ||||||
Suncor Energy, Inc. | 3,666 | 126,508 | ||||||
Teck Resources, Ltd. Class B | 1,304 | 33,560 | ||||||
TELUS Corp. | 3,523 | 123,623 |
See accompanying notes to financial statements.
20
Table of Contents
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
TMX Group, Ltd. | 18 | $ | 1,044 | |||||
Toronto-Dominion Bank | 3,489 | 197,852 | ||||||
TransAlta Corp. | 4,083 | 22,105 | ||||||
TransCanada Corp. (c) | 1,606 | 66,370 | ||||||
Wheaton Precious Metals Corp | 1,173 | 23,883 | ||||||
Yamana Gold, Inc. (c) | 3,594 | 9,924 | ||||||
|
| |||||||
2,711,053 | ||||||||
|
| |||||||
CHILE — 0.0% (d) | ||||||||
Enel Americas SA ADR | 1,244 | 14,455 | ||||||
Enel Chile SA ADR | 690 | 4,416 | ||||||
Enel Generacion Chile SA ADR | 310 | 7,375 | ||||||
Liberty Latin America, Ltd. Class C (a) | 309 | 5,899 | ||||||
Sociedad Quimica y Minera de Chile SA ADR (c) | 153 | 7,520 | ||||||
|
| |||||||
39,665 | ||||||||
|
| |||||||
CHINA — 3.4% | ||||||||
Agricultural Bank of China, Ltd. Class H | 84,000 | 47,735 | ||||||
Alibaba Group Holding, Ltd. ADR (a) (c) | 2,036 | 373,688 | ||||||
Baidu, Inc. ADR (a) | 500 | 111,595 | ||||||
Bank of China, Ltd. Class H | 167,000 | 89,795 | ||||||
Bank of Communications Co., Ltd. Class H | 60,000 | 47,017 | ||||||
Baozun, Inc. ADR (a) | 2,948 | 135,254 | ||||||
China Construction Bank Corp. Class H | 131,000 | 134,534 | ||||||
China Life Insurance Co., Ltd. Class H | 23,000 | 63,300 | ||||||
China Merchants Bank Co., Ltd. Class H | 29,174 | 119,509 | ||||||
China Mobile, Ltd. | 11,500 | 105,427 | ||||||
China Overseas Land & Investment, Ltd. | 24,000 | 83,330 | ||||||
China Petroleum & Chemical Corp. Class H | 71,200 | 62,506 | ||||||
China Pioneer Pharma Holdings, Ltd. | 360,000 | 114,216 | ||||||
China Shenhua Energy Co., Ltd. Class H | 11,500 | 28,573 | ||||||
China Telecom Corp., Ltd. Class H | 72,000 | 31,742 | ||||||
China Unicom Hong Kong, Ltd. (a) | 24,000 | 30,274 | ||||||
CITIC, Ltd. | 24,000 | 33,577 | ||||||
CNOOC, Ltd. | 36,000 | 53,026 | ||||||
COSCO SHIPPING Ports, Ltd. | 23,317 | 19,608 | ||||||
Ctrip.com International, Ltd. ADR (a) | 700 | 32,634 | ||||||
Health and Happiness H&H International Holdings, Ltd. (a) | 16,500 | 125,616 | ||||||
Hengan International Group Co., Ltd. | 6,000 | 55,579 | ||||||
Huaneng Power International, Inc. Class H | 48,000 | 32,231 | ||||||
Industrial & Commercial Bank of China, Ltd. Class H | 132,000 | 113,191 | ||||||
JD.com, Inc. ADR (a) | 1,200 | 48,588 | ||||||
NetEase, Inc. ADR | 100 | 28,039 |
Security Description | Shares | Value | ||||||
New Oriental Education & Technology Group, Inc. ADR | 200 | $ | 17,530 | |||||
PetroChina Co., Ltd. Class H | 48,000 | 32,965 | ||||||
PICC Property & Casualty Co., Ltd. Class H | 25,859 | 45,271 | ||||||
Ping An Insurance Group Co. of China, Ltd. Class H | 12,000 | 122,014 | ||||||
Shandong Xinhua Pharmaceutical Co., Ltd. Class H | 84,000 | 85,624 | ||||||
TAL Education Group ADR | 500 | 18,545 | ||||||
Tencent Holdings, Ltd. | 12,000 | 626,276 | ||||||
Yanzhou Coal Mining Co., Ltd. Class H | 24,000 | 30,580 | ||||||
YiChang HEC ChangJiang Pharmaceutical Co., Ltd. Class H (c) (e) | 1,400 | 6,449 | ||||||
Yum China Holdings, Inc | 1,244 | 51,626 | ||||||
|
| |||||||
3,157,464 | ||||||||
|
| |||||||
COLOMBIA — 0.0% (d) | ||||||||
Bancolombia SA ADR | 260 | 10,925 | ||||||
|
| |||||||
DENMARK — 0.7% | ||||||||
AP Moeller - Maersk A/S Class B | 60 | 92,501 | ||||||
Danske Bank A/S | 2,040 | 75,866 | ||||||
DSV A/S | 3,057 | 239,228 | ||||||
Novo Nordisk A/S Class B | 4,542 | 222,944 | ||||||
|
| |||||||
630,539 | ||||||||
|
| |||||||
FINLAND — 0.4% | ||||||||
Fortum Oyj (c) | 1,590 | 34,123 | ||||||
Metso Oyj | 945 | 29,764 | ||||||
Nokia Oyj | 9,862 | 54,398 | ||||||
Sampo Oyj Class A | 1,113 | 61,953 | ||||||
UPM-Kymmene Oyj | 3,630 | 134,377 | ||||||
Valmet Oyj (c) | 179 | 3,584 | ||||||
Wartsila Oyj Abp | 3,231 | 71,327 | ||||||
|
| |||||||
389,526 | ||||||||
|
| |||||||
FRANCE — 3.2% | ||||||||
Accor SA | 1,990 | 107,319 | ||||||
Airbus SE | 815 | 94,018 | ||||||
Alstom SA | 1,471 | 66,232 | ||||||
AXA SA | 3,834 | 101,849 | ||||||
BNP Paribas SA | 2,035 | 150,590 | ||||||
Bouygues SA | 1,167 | 58,428 | ||||||
Capgemini SE | 1,435 | 178,601 | ||||||
Carrefour SA | 2,427 | 50,295 | ||||||
Credit Agricole SA | 4,166 | 67,657 | ||||||
Danone SA | 1,153 | 93,206 | ||||||
Engie SA | 1,956 | 32,608 | ||||||
Essilor International Cie Generale d’Optique SA | 740 | 99,746 | ||||||
Groupe Fnac SA (a) | 1,182 | 126,543 | ||||||
Hermes International | 13 | 7,698 | ||||||
Kering SA | 251 | 120,020 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 395 | 121,545 | ||||||
Orange SA | 5,584 | 94,668 | ||||||
Pernod Ricard SA | 536 | 89,157 |
See accompanying notes to financial statements.
21
Table of Contents
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Publicis Groupe SA | 970 | $ | 67,497 | |||||
Renault SA | 1,351 | 163,660 | ||||||
Sanofi | 1,785 | 143,418 | ||||||
Schneider Electric SE | 1,292 | 113,357 | ||||||
Societe Generale SA | 1,627 | 88,363 | ||||||
Sodexo SA | 1,137 | 114,524 | ||||||
TOTAL SA | 3,214 | 182,340 | ||||||
Unibail-Rodamco SE REIT | 431 | 98,407 | ||||||
Vallourec SA (a)(c) | 1,266 | 6,701 | ||||||
Veolia Environnement SA | 3,431 | 81,207 | ||||||
Vinci SA | 1,651 | 162,236 | ||||||
Vivendi SA | 4,208 | 108,679 | ||||||
|
| |||||||
2,990,569 | ||||||||
|
| |||||||
GERMANY — 3.0% | ||||||||
adidas AG | 981 | 237,255 | ||||||
Allianz SE | 921 | 207,736 | ||||||
BASF SE | 1,483 | 150,414 | ||||||
Bayer AG | 1,749 | 197,441 | ||||||
Commerzbank AG (a) | 1,651 | 21,409 | ||||||
CompuGroup Medical SE | 3,019 | 163,146 | ||||||
Daimler AG | 2,052 | 174,056 | ||||||
Deutsche Bank AG | 3,905 | 54,394 | ||||||
Deutsche Boerse AG | 707 | 96,167 | ||||||
Deutsche Lufthansa AG | 4,242 | 135,330 | ||||||
Deutsche Post AG | 3,523 | 153,900 | ||||||
Deutsche Telekom AG | 5,815 | 94,758 | ||||||
E.ON SE | 3,642 | 40,401 | ||||||
Fresenius Medical Care AG & Co. KGaA | 395 | 40,311 | ||||||
Linde AG (a) | 251 | 52,817 | ||||||
MAN SE | 335 | 39,037 | ||||||
Merck KGaA | 1,244 | 119,182 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 536 | 124,490 | ||||||
OSRAM Licht AG | 14 | 1,029 | ||||||
RWE AG (a) | 1,220 | 30,098 | ||||||
Salzgitter AG | 1,292 | 66,006 | ||||||
SAP SE | 1,814 | 189,564 | ||||||
Siemens AG | 1,443 | 183,714 | ||||||
ThyssenKrupp AG | 2,274 | 59,262 | ||||||
Uniper SE | 331 | 10,075 | ||||||
Volkswagen AG | 431 | 86,189 | ||||||
Volkswagen AG Preference Shares | 395 | 78,397 | ||||||
|
| |||||||
2,806,578 | ||||||||
|
| |||||||
HONG KONG — 1.4% | ||||||||
AIA Group, Ltd. | 16,800 | 142,135 | ||||||
Bank of East Asia, Ltd. | 16,611 | 66,247 | ||||||
CK Asset Holdings, Ltd. | 18,920 | 158,745 | ||||||
CK Hutchison Holdings, Ltd. | 11,420 | 136,633 | ||||||
Global Brands Group Holding, Ltd. (a) | 8,000 | 449 | ||||||
Hang Lung Properties, Ltd. | 12,000 | 27,950 | ||||||
Henderson Land Development Co., Ltd. | 15,406 | 100,308 | ||||||
Hong Kong Exchanges & Clearing, Ltd. | 3,795 | 123,400 |
Security Description | Shares | Value | ||||||
Li & Fung, Ltd. | 24,000 | $ | 11,743 | |||||
Li Bao Ge Group, Ltd. | 150,000 | 7,741 | ||||||
Link REIT | 12,058 | 102,938 | ||||||
New World Development Co., Ltd. | 40,993 | 57,873 | ||||||
Sands China, Ltd. | 9,600 | 51,619 | ||||||
Shangri-La Asia, Ltd. | 24,000 | 48,316 | ||||||
Sun Hung Kai Properties, Ltd. | 12,253 | 193,592 | ||||||
Swire Pacific, Ltd. Class A | 6,000 | 60,510 | ||||||
|
| |||||||
1,290,199 | ||||||||
|
| |||||||
HUNGARY — 0.1% | ||||||||
MOL Hungarian Oil & Gas PLC | 2,200 | 24,025 | ||||||
Richter Gedeon Nyrt | 2,238 | 46,773 | ||||||
|
| |||||||
70,798 | ||||||||
|
| |||||||
INDIA — 0.9% | ||||||||
Dr Reddy’s Laboratories, Ltd. ADR (c) | 2,554 | 83,490 | ||||||
ICICI Bank, Ltd. ADR | 8,764 | 77,561 | ||||||
Infosys, Ltd. ADR (c) | 11,147 | 198,974 | ||||||
Larsen & Toubro, Ltd. GDR | 3,746 | 75,295 | ||||||
Mahindra & Mahindra, Ltd., GDR | 3,446 | 39,629 | ||||||
Reliance Industries, Ltd. GDR (e) | 3,960 | 107,316 | ||||||
State Bank of India GDR | 1,669 | 64,423 | ||||||
Tata Motors, Ltd. ADR (a) | 2,380 | 61,166 | ||||||
Vedanta, Ltd. ADR | 3,722 | 65,396 | ||||||
Wipro, Ltd. ADR | 10,614 | 54,768 | ||||||
|
| |||||||
828,018 | ||||||||
|
| |||||||
INDONESIA — 0.4% | ||||||||
Astra International Tbk PT | 60,800 | 32,238 | ||||||
Bank Central Asia Tbk PT | 54,800 | 92,743 | ||||||
Bank Mandiri Persero Tbk PT | 109,600 | 61,099 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 321,000 | 83,937 | ||||||
Gudang Garam Tbk PT | 6,000 | 31,585 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 402,400 | 105,222 | ||||||
|
| |||||||
406,824 | ||||||||
|
| |||||||
IRELAND — 0.1% | ||||||||
CRH PLC | 1,970 | 66,797 | ||||||
Prothena Corp. PLC (a) | 1,813 | 66,555 | ||||||
|
| |||||||
133,352 | ||||||||
|
| |||||||
ISRAEL — 0.3% | ||||||||
Bank Hapoalim BM | 8,316 | 56,943 | ||||||
Bank Leumi Le-Israel BM | 37,874 | 227,728 | ||||||
Teva Pharmaceutical Industries, Ltd. ADR | 1,423 | 24,319 | ||||||
|
| |||||||
308,990 | ||||||||
|
| |||||||
ITALY — 0.7% | ||||||||
Assicurazioni Generali SpA | 3,450 | 66,297 | ||||||
Atlantia SpA | 923 | 28,549 | ||||||
Banca Monte dei Paschi di Siena SpA (a)(c) | 90 | 285 | ||||||
Enel SpA | 15,198 | 92,896 | ||||||
Eni SpA | 5,232 | 91,937 | ||||||
Ferrari NV | 277 | 33,229 |
See accompanying notes to financial statements.
22
Table of Contents
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Intesa Sanpaolo SpA | 27,419 | $ | 99,596 | |||||
Italgas SpA | 1,720 | 10,272 | ||||||
Luxottica Group SpA | 369 | 22,918 | ||||||
Mediaset SpA (a) | 13,484 | 51,607 | ||||||
Saipem SpA (a) | 1,573 | 6,156 | ||||||
Snam SpA | 8,606 | 39,510 | ||||||
Telecom Italia SpA/Milano (a) | 64,065 | 60,747 | ||||||
UniCredit SpA (a) | 3,642 | 76,091 | ||||||
|
| |||||||
680,090 | ||||||||
|
| |||||||
JAPAN — 8.2% | ||||||||
Aisin Seiki Co., Ltd. | 1,200 | 64,767 | ||||||
Asahi Group Holdings, Ltd. | 1,200 | 64,203 | ||||||
Asahi Kasei Corp. | 12,000 | 157,800 | ||||||
Astellas Pharma, Inc. | 6,000 | 91,171 | ||||||
Bridgestone Corp. | 1,200 | 52,220 | ||||||
Canon, Inc. | 1,200 | 43,441 | ||||||
Credit Saison Co., Ltd. | 2,400 | 39,583 | ||||||
Daiichi Sankyo Co., Ltd. | 3,600 | 119,661 | ||||||
Daikin Industries, Ltd. | 1,200 | 131,396 | ||||||
Daiwa Securities Group, Inc. | 12,000 | 76,310 | ||||||
Denso Corp. | 2,400 | 130,482 | ||||||
Eisai Co., Ltd. (c) | 1,200 | 76,570 | ||||||
FUJIFILM Holdings Corp. | 2,400 | 94,691 | ||||||
Fujitsu, Ltd. | 11,000 | 66,093 | ||||||
Hitachi, Ltd. | 12,000 | 86,104 | ||||||
Hokuhoku Financial Group, Inc. (c) | 2,400 | 32,654 | ||||||
Honda Motor Co., Ltd. | 2,400 | 82,166 | ||||||
Hoya Corp. | 2,400 | 119,808 | ||||||
Istyle, Inc. | 500 | 6,996 | ||||||
ITOCHU Corp. (c) | 3,600 | 69,444 | ||||||
Japan Tobacco, Inc. | 2,400 | 68,491 | ||||||
JFE Holdings, Inc. | 2,400 | 47,786 | ||||||
JSR Corp. | 2,400 | 53,326 | ||||||
JXTG Holdings, Inc. | 6,000 | 35,972 | ||||||
Kajima Corp. | 12,000 | 111,368 | ||||||
Kamigumi Co., Ltd. | 6,000 | 132,807 | ||||||
Kansai Electric Power Co., Inc. | 2,400 | 31,120 | ||||||
KDDI Corp. | 7,200 | 183,165 | ||||||
Kobe Steel, Ltd. (a) | 3,600 | 35,306 | ||||||
Komatsu, Ltd. | 2,400 | 79,097 | ||||||
Konica Minolta, Inc. (c) | 6,000 | 50,381 | ||||||
Kyocera Corp. | 2,400 | 133,755 | ||||||
Makita Corp. | 2,400 | 117,348 | ||||||
Marubeni Corp. | 12,000 | 86,511 | ||||||
Marui Group Co., Ltd. (c) | 4,300 | 85,717 | ||||||
Mebuki Financial Group, Inc. | 12,800 | 49,106 | ||||||
Mitsubishi Chemical Holdings Corp. | 6,000 | 57,546 | ||||||
Mitsubishi Corp. | 2,400 | 63,763 | ||||||
Mitsubishi Electric Corp. | 12,000 | 191,763 | ||||||
Mitsubishi Heavy Industries, Ltd. (c) | 1,200 | 45,800 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 21,500 | 140,766 | ||||||
Mitsui & Co., Ltd. | 2,400 | 40,846 | ||||||
Mizuho Financial Group, Inc. | 44,300 | 79,769 | ||||||
MS&AD Insurance Group Holdings, Inc. | 2,400 | 73,929 |
Security Description | Shares | Value | ||||||
Murata Manufacturing Co., Ltd. | 1,200 | $ | 163,498 | |||||
NanoCarrier Co., Ltd. (a)(c) | 800 | 5,439 | ||||||
NEC Corp. | 200 | 5,567 | ||||||
Nintendo Co., Ltd. (c) | 400 | 175,496 | ||||||
Nippon Steel & Sumitomo Metal Corp. | 3,500 | 75,957 | ||||||
Nippon Yusen KK | 2,400 | 46,511 | ||||||
Nissan Motor Co., Ltd. (c) | 4,800 | 49,399 | ||||||
Nitto Denko Corp. | 1,200 | 89,275 | ||||||
Nomura Holdings, Inc. | 11,900 | 68,390 | ||||||
NTT Data Corp. | 6,000 | 62,228 | ||||||
NTT DOCOMO, Inc. | 1,900 | 48,049 | ||||||
Obayashi Corp. | 12,000 | 130,437 | ||||||
ORIX Corp. | 4,800 | 84,784 | ||||||
Osaka Gas Co., Ltd. (c) | 2,400 | 47,323 | ||||||
Panasonic Corp. | 7,200 | 101,788 | ||||||
Resona Holdings, Inc. | 7,200 | 38,244 | ||||||
Rohm Co., Ltd. | 1,200 | 111,707 | ||||||
Secom Co., Ltd. | 1,200 | 88,350 | ||||||
Seven & i Holdings Co., Ltd. | 1,200 | 51,137 | ||||||
Shin-Etsu Chemical Co., Ltd. | 1,200 | 122,708 | ||||||
SoftBank Group Corp. | 2,400 | 176,158 | ||||||
Sompo Holdings, Inc. | 2,400 | 95,707 | ||||||
Sony Corp. | 3,600 | 172,976 | ||||||
Sumitomo Chemical Co., Ltd. | 12,000 | 68,604 | ||||||
Sumitomo Corp. | 2,400 | 39,695 | ||||||
Sumitomo Electric Industries, Ltd. | 3,600 | 54,381 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 2,400 | 100,446 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 1,200 | 48,553 | ||||||
T&D Holdings, Inc. | 4,800 | 75,532 | ||||||
Takeda Pharmaceutical Co., Ltd. | 1,200 | 57,772 | ||||||
TDK Corp. | 1,200 | 105,049 | ||||||
Teijin, Ltd. | 2,400 | 45,134 | ||||||
Terumo Corp. | 2,400 | 123,667 | ||||||
Tokio Marine Holdings, Inc. | 2,400 | 107,712 | ||||||
Tokyo Electron, Ltd. | 1,100 | 198,745 | ||||||
Tokyu Corp. | 5,500 | 86,004 | ||||||
Toppan Printing Co., Ltd. | 12,000 | 97,489 | ||||||
Toshiba Corp. (a) | 12,000 | 34,528 | ||||||
Toyota Motor Corp. | 4,800 | 308,807 | ||||||
Toyota Tsusho Corp. | 3,600 | 120,000 | ||||||
UNITED, Inc. | 200 | 7,917 | ||||||
West Japan Railway Co. | 1,200 | 84,344 | ||||||
Yamada Denki Co., Ltd. (c) | 4,800 | 28,931 | ||||||
Yamaha Corp. | 3,900 | 168,872 | ||||||
|
| |||||||
7,574,308 | ||||||||
|
| |||||||
LUXEMBOURG — 0.1% | ||||||||
ArcelorMittal (a) | 1,371 | 43,333 | ||||||
|
| |||||||
MALAYSIA — 0.1% | ||||||||
CIMB Group Holdings Bhd | 12,279 | 22,729 | ||||||
Malayan Banking Bhd | 8,160 | 22,193 | ||||||
Public Bank Bhd | 5,200 | 32,265 | ||||||
Tenaga Nasional Bhd | 6,100 | 25,485 | ||||||
|
| |||||||
102,672 | ||||||||
|
|
See accompanying notes to financial statements.
23
Table of Contents
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
MEXICO — 0.4% | ||||||||
America Movil SAB de CV Series L | 93,026 | $ | 87,912 | |||||
Cemex SAB de CV Series CPO (a) | 47,666 | 31,414 | ||||||
Fomento Economico Mexicano SAB de CV | 9,562 | 86,864 | ||||||
Grupo Financiero Banorte SAB de CV Series O | 9,204 | 56,035 | ||||||
Grupo Mexico SAB de CV Series B | 15,308 | 50,779 | ||||||
Grupo Televisa SAB Series CPO | 8,133 | 25,767 | ||||||
Industrias Penoles SAB de CV | 620 | 12,475 | ||||||
|
| |||||||
351,246 | ||||||||
|
| |||||||
NETHERLANDS — 1.6% | ||||||||
Akzo Nobel NV | 972 | 91,736 | ||||||
ASML Holding NV | 875 | 172,341 | ||||||
Heineken NV | 647 | 69,466 | ||||||
ING Groep NV | 8,398 | 141,498 | ||||||
Koninklijke Ahold Delhaize NV | 3,577 | 84,649 | ||||||
Koninklijke DSM NV | 1,153 | 114,349 | ||||||
Koninklijke KPN NV | 11,057 | 33,139 | ||||||
Koninklijke Philips NV | 3,480 | 133,382 | ||||||
Royal Dutch Shell PLC Class A | 2,293 | 71,843 | ||||||
Royal Dutch Shell PLC Class B | 11,878 | 379,404 | ||||||
Wolters Kluwer NV | 3,630 | 192,816 | ||||||
|
| |||||||
1,484,623 | ||||||||
|
| |||||||
NORWAY — 0.3% | ||||||||
DNB ASA | 4,506 | 87,326 | ||||||
Norsk Hydro ASA | 13,852 | 81,073 | ||||||
Telenor ASA | 3,690 | 83,191 | ||||||
Yara International ASA | 768 | 32,389 | ||||||
|
| |||||||
283,979 | ||||||||
|
| |||||||
PERU — 0.0% (d) | ||||||||
Cia de Minas Buenaventura SAA ADR | 324 | 4,935 | ||||||
|
| |||||||
PHILIPPINES — 0.0% (d) | ||||||||
PLDT, Inc. ADR | 897 | 25,448 | ||||||
|
| |||||||
POLAND — 0.0% (d) | ||||||||
Polski Koncern Naftowy ORLEN SA | 538 | 13,212 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA (a) | 1,684 | 19,882 | ||||||
|
| |||||||
33,094 | ||||||||
|
| |||||||
RUSSIA — 0.4% | ||||||||
Gazprom PJSC ADR (b) | 1,770 | 8,613 | ||||||
Gazprom PJSC ADR (b) | 803 | 3,959 | ||||||
LUKOIL PJSC ADR | 1,185 | 82,026 | ||||||
MMC Norilsk Nickel PJSC ADR (c) | 1,447 | 27,059 | ||||||
Mobile TeleSystems PJSC ADR | 2,262 | 25,764 | ||||||
RusHydro PJSC ADR (b) | 1,077 | 1,314 | ||||||
RusHydro PJSC ADR (b) | 579 | 728 | ||||||
Sberbank of Russia PJSC ADR (b) | 4,626 | 86,182 | ||||||
Sberbank of Russia PJSC ADR (b) | 427 | 7,963 | ||||||
Surgutneftegas OJSC ADR | 445 | 2,234 | ||||||
Tatneft PJSC ADR (b) | 1,097 | 69,243 | ||||||
Tatneft PJSC ADR (b) | 96 | 6,166 | ||||||
|
| |||||||
321,251 | ||||||||
|
|
Security Description | Shares | Value | ||||||
SINGAPORE — 0.6% | ||||||||
Broadcom, Ltd. | 929 | $ | 218,919 | |||||
CapitaLand, Ltd. | 36,000 | 98,009 | ||||||
Singapore Exchange, Ltd. | 24,000 | 134,889 | ||||||
Singapore Press Holdings, Ltd. (c) | 24,000 | 46,122 | ||||||
Singapore Telecommunications, Ltd. | 12,000 | 30,840 | ||||||
|
| |||||||
528,779 | ||||||||
|
| |||||||
SOUTH AFRICA — 0.8% | ||||||||
AngloGold Ashanti, Ltd. | 1,053 | 10,000 | ||||||
Discovery, Ltd. (c) | 15,747 | 226,595 | ||||||
FirstRand, Ltd. (c) | 13,266 | 74,902 | ||||||
Gold Fields, Ltd. | 2,554 | 10,342 | ||||||
Harmony Gold Mining Co., Ltd. | 2,422 | 5,750 | ||||||
Impala Platinum Holdings, Ltd. (a) (c) | 1,639 | 3,256 | ||||||
MTN Group, Ltd. (c) | 4,899 | 49,210 | ||||||
Naspers, Ltd. Class N | 780 | 190,369 | ||||||
Sanlam, Ltd. (c) | 12,283 | 88,426 | ||||||
Sasol, Ltd. | 945 | 32,160 | ||||||
Sibanye Gold, Ltd. | 2,507 | 2,490 | ||||||
Standard Bank Group, Ltd. (c) | 3,174 | 58,579 | ||||||
|
| |||||||
752,079 | ||||||||
|
| |||||||
SOUTH KOREA — 2.1% | ||||||||
Able C&C Co., Ltd. (a) | 5,776 | 101,875 | ||||||
Ahnlab, Inc. | 111 | 8,841 | ||||||
Aprogen pharmaceuticals, Inc. (a) | 2,268 | 8,926 | ||||||
Cell Biotech Co., Ltd. | 341 | 15,516 | ||||||
Celltrion, Inc. (a) | 106 | 31,525 | ||||||
CMG Pharmaceutical Co., Ltd. (a) | 1,212 | 7,664 | ||||||
CrystalGenomics, Inc. (a) | 307 | 7,114 | ||||||
Dae Hwa Pharmaceutical Co., Ltd. | 418 | 11,726 | ||||||
DIO Corp. (a) | 1,932 | 80,931 | ||||||
E-MART, Inc. | 27 | 6,852 | ||||||
Genexine Co., Ltd. (a) | 93 | 8,917 | ||||||
Green Cross Cell Corp. | 209 | 10,961 | ||||||
Hana Financial Group, Inc. | 410 | 17,540 | ||||||
Hanall Biopharma Co., Ltd. (a) | 262 | 7,939 | ||||||
Humedix Co., Ltd. | 209 | 8,755 | ||||||
Huons Co., Ltd. | 92 | 9,287 | ||||||
Hyundai Construction Equipment Co., Ltd. (a) | 4 | 662 | ||||||
Hyundai Electric & Energy System Co., Ltd. (a) | 4 | 308 | ||||||
Hyundai Heavy Industries Co., Ltd. (a) | 35 | 4,515 | ||||||
Hyundai Mobis Co., Ltd. | 167 | 39,795 | ||||||
Hyundai Motor Co. | 373 | 50,216 | ||||||
Hyundai Robotics Co., Ltd. (a) | 6 | 2,398 | ||||||
Hyundai Steel Co. | 163 | 7,891 | ||||||
iNtRON Biotechnology, Inc. (a) | 214 | 8,784 | ||||||
Jayjun Cosmetic Co., Ltd. (a) | 592 | 10,941 | ||||||
JW Holdings Corp. | 4,923 | 37,919 | ||||||
JW Pharmaceutical Corp. | 1,048 | 41,540 | ||||||
KB Financial Group, Inc. | 903 | 52,186 | ||||||
Kia Motors Corp. | 300 | 8,964 | ||||||
Korea Electric Power Corp. ADR (a) (c) | 990 | 15,236 |
See accompanying notes to financial statements.
24
Table of Contents
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
KT&G Corp. | 336 | $ | 31,523 | |||||
LG Chem, Ltd. Preference Shares | 507 | 102,504 | ||||||
LG Electronics, Inc. | 129 | 13,192 | ||||||
LG Household & Health Care, Ltd. | 53 | 59,270 | ||||||
Lotte Chemical Corp. | 17 | 6,906 | ||||||
NAVER Corp. | 95 | 70,054 | ||||||
NHN Entertainment Corp. (a) | 33 | 2,090 | ||||||
NUTRIBIOTECH Co., Ltd. (a) | 353 | 7,799 | ||||||
PHARMA RESEARCH PRODUCTS Co., Ltd. | 146 | 7,369 | ||||||
POSCO ADR (a) | 1,356 | 106,921 | ||||||
Samsung C&T Corp. | 158 | 20,308 | ||||||
Samsung Electronics Co., Ltd. GDR | 430 | 492,780 | ||||||
Samsung Engineering Co., Ltd. (a) | 355 | 6,161 | ||||||
Samsung Fire & Marine Insurance Co., Ltd. | 89 | 22,377 | ||||||
Samsung Heavy Industries Co., Ltd. (a) | 692 | 5,116 | ||||||
Samsung Securities Co., Ltd. | 351 | 12,941 | ||||||
SeAH Steel Corp. | 1,504 | 118,243 | ||||||
Sejong Telecom, Inc. (a) | 13,717 | 7,914 | ||||||
Shinhan Financial Group Co., Ltd. | 903 | 38,250 | ||||||
SillaJen, Inc. (a) | 82 | 8,239 | ||||||
SK Holdings Co., Ltd. | 86 | 24,084 | ||||||
SK Hynix, Inc. | 1,395 | 105,093 | ||||||
SK Innovation Co., Ltd. | 68 | 13,397 | ||||||
ViroMed Co., Ltd. (a) | 36 | 7,464 | ||||||
Whanin Pharmaceutical Co., Ltd. | 722 | 16,934 | ||||||
|
| |||||||
1,932,653 | ||||||||
|
| |||||||
SPAIN — 1.0% | ||||||||
Acciona SA (c) | 1,582 | 120,084 | ||||||
Acerinox SA (c) | 3,629 | 50,634 | ||||||
ACS Actividades de Construccion y Servicios SA | 2,837 | 110,429 | ||||||
Amadeus IT Group SA | 1,206 | 88,962 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 10,804 | 85,424 | ||||||
Banco Santander SA | 24,626 | 160,366 | ||||||
Iberdrola SA | 9,774 | 71,787 | ||||||
Industria de Diseno Textil SA | 2,405 | 75,217 | ||||||
Repsol SA | 1,841 | 32,638 | ||||||
Telefonica SA | 8,707 | 85,966 | ||||||
|
| |||||||
881,507 | ||||||||
|
| |||||||
SWEDEN — 1.0% | ||||||||
Assa Abloy AB Class B | 4,095 | 88,185 | ||||||
Atlas Copco AB Class B | 3,810 | 147,627 | ||||||
Nordea Bank AB | 6,612 | 70,345 | ||||||
Sandvik AB | 3,547 | 64,567 | ||||||
Securitas AB Class B | 5,512 | 93,295 | ||||||
Skandinaviska Enskilda Banken AB Class A | 8,340 | 87,077 | ||||||
Skanska AB Class B | 3,618 | 73,723 | ||||||
SKF AB Class B (c) | 2,573 | 52,383 | ||||||
Svenska Handelsbanken AB Class A | 3,383 | 42,092 | ||||||
Tele2 AB Class B | 2,530 | 30,255 | ||||||
Telefonaktiebolaget LM Ericsson Class B (c) | 6,751 | 42,659 |
Security Description | Shares | Value | ||||||
Telia Co. AB | 5,815 | $ | 27,225 | |||||
Volvo AB Class A | 5,565 | 101,335 | ||||||
|
| |||||||
920,768 | ||||||||
|
| |||||||
SWITZERLAND — 2.8% | ||||||||
ABB, Ltd. | 5,027 | 119,270 | ||||||
Adecco Group AG | 969 | 68,810 | ||||||
Cie Financiere Richemont SA | 1,363 | 122,066 | ||||||
Credit Suisse Group AG (a) | 4,248 | 70,933 | ||||||
Ferguson PLC | 1,053 | 79,086 | ||||||
Geberit AG | 395 | 174,236 | ||||||
Givaudan SA | 48 | 109,073 | ||||||
Glencore PLC (a) | 6,604 | 32,776 | ||||||
Kuehne + Nagel International AG | 466 | 73,141 | ||||||
LafargeHolcim, Ltd. (a) | 930 | 50,793 | ||||||
Nestle SA | 4,818 | 380,469 | ||||||
Novartis AG | 3,281 | 264,714 | ||||||
Roche Holding AG | 1,220 | 279,137 | ||||||
SGS SA | 48 | 117,694 | ||||||
Swatch Group AG | 144 | 63,368 | ||||||
Swiss Re AG | 1,173 | 119,162 | ||||||
TE Connectivity, Ltd. | 2,482 | 247,952 | ||||||
TRANSOCEAN, Ltd. (a) | 885 | 8,734 | ||||||
UBS Group AG (a) | 6,826 | 119,719 | ||||||
Zurich Insurance Group AG (a) | 239 | 78,219 | ||||||
|
| |||||||
2,579,352 | ||||||||
|
| |||||||
TAIWAN — 1.4% | ||||||||
Advanced Semiconductor Engineering, Inc. ADR | 14,349 | 104,174 | ||||||
AU Optronics Corp. ADR (c) | 24,401 | 111,513 | ||||||
Chunghwa Telecom Co., Ltd. ADR | 3,269 | 127,033 | ||||||
Hon Hai Precision Industry Co., Ltd. GDR | 25,771 | 160,296 | ||||||
Siliconware Precision Industries Co., Ltd. ADR (c) | 16,934 | 146,479 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 11,449 | 501,008 | ||||||
United Microelectronics Corp. ADR (c) | 48,217 | 124,882 | ||||||
|
| |||||||
1,275,385 | ||||||||
|
| |||||||
THAILAND — 0.2% | ||||||||
Bangkok Bank PCL (f) | 13,200 | 90,336 | ||||||
CP ALL PCL NVDR | 8,900 | 24,833 | ||||||
Kasikornbank PCL NVDR | 2,100 | 14,237 | ||||||
PTT PCL (f) | 2,400 | 42,059 | ||||||
Siam Commercial Bank PCL NVDR | 3,200 | 14,685 | ||||||
|
| |||||||
186,150 | ||||||||
|
| |||||||
TURKEY — 0.1% | ||||||||
Akbank Turk A/S | 9,083 | 21,920 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S REIT (a) | 49,741 | 31,768 | ||||||
Turkiye Garanti Bankasi A/S | 10,507 | 28,910 | ||||||
Turkiye Is Bankasi A/S Class C | 24,114 | 43,402 | ||||||
|
| |||||||
126,000 | ||||||||
|
|
See accompanying notes to financial statements.
25
Table of Contents
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
UNITED KINGDOM — 5.7% | ||||||||
3i Group PLC | 22,031 | $ | 265,475 | |||||
Anglo American PLC (c) | 2,770 | 64,542 | ||||||
AstraZeneca PLC | 2,196 | 150,808 | ||||||
BAE Systems PLC | 11,076 | 90,335 | ||||||
Barclays PLC | 30,004 | 86,915 | ||||||
BP PLC | 25,447 | 171,078 | ||||||
British American Tobacco PLC | 2,054 | 119,029 | ||||||
British Land Co. PLC REIT | 7,942 | 71,525 | ||||||
BT Group PLC | 25,842 | 82,471 | ||||||
Burberry Group PLC | 1,968 | 46,822 | ||||||
Capita PLC | 6,676 | 13,490 | ||||||
CNH Industrial NV | 1,712 | 21,118 | ||||||
Cobham PLC (a) | 69,090 | 119,114 | ||||||
Compass Group PLC | 5,391 | 110,072 | ||||||
CYBG PLC | 934 | 3,862 | ||||||
Diageo PLC | 3,378 | 114,296 | ||||||
Experian PLC | 4,616 | 99,558 | ||||||
Fiat Chrysler Automobiles NV | 2,122 | 43,066 | ||||||
G4S PLC | 7,743 | 26,948 | ||||||
GlaxoSmithKline PLC | 7,767 | 151,884 | ||||||
Hammerson PLC REIT (c) | 12,777 | 96,178 | ||||||
HSBC Holdings PLC | 31,620 | 295,148 | ||||||
Imperial Brands PLC | 1,244 | 42,336 | ||||||
Indivior PLC (a) | 946 | 5,409 | ||||||
InterContinental Hotels Group PLC | 2,496 | 149,439 | ||||||
J Sainsbury PLC | 9,155 | 30,668 | ||||||
Land Securities Group PLC REIT | 5,134 | 67,490 | ||||||
Liberty Global PLC Class A (a) | 1,244 | 38,950 | ||||||
Liberty Global PLC Series C (a) | 2,220 | 67,555 | ||||||
Lloyds Banking Group PLC | 107,617 | 97,614 | ||||||
Lonmin PLC (a) (c) | 13 | 11 | ||||||
Marks & Spencer Group PLC | 12,641 | 47,914 | ||||||
Micro Focus International PLC ADR | 683 | 9,589 | ||||||
National Grid PLC | 2,355 | 26,501 | ||||||
Next PLC | 897 | 59,883 | ||||||
Old Mutual PLC | 18,636 | 62,559 | ||||||
Pearson PLC | 1,483 | 15,582 | ||||||
Pentair PLC | 143 | 9,743 | ||||||
Prudential PLC | 6,031 | 150,466 | ||||||
Randgold Resources, Ltd. | 367 | 30,282 | ||||||
Reckitt Benckiser Group PLC | 993 | 84,052 | ||||||
RELX NV | 6,531 | 135,181 | ||||||
RELX PLC | 3,869 | 79,512 | ||||||
Rio Tinto PLC | 2,668 | 135,148 | ||||||
Rio Tinto, Ltd. | 208 | 11,599 | ||||||
Rolls-Royce Holdings PLC (a) | 3,929 | 48,039 | ||||||
RSA Insurance Group PLC | 8,770 | 77,506 | ||||||
Sage Group PLC | 21,128 | 189,448 | ||||||
Severn Trent PLC | 3,105 | 80,319 | ||||||
Shire PLC ADR | 92 | 13,744 | ||||||
Shire PLC | 717 | 35,912 | ||||||
Sky PLC | 2,494 | 45,394 | ||||||
Smith & Nephew PLC | 5,632 | 105,157 | ||||||
Smiths Group PLC | 4,337 | 92,081 | ||||||
SSE PLC | 2,334 | 41,778 | ||||||
Standard Chartered PLC | 6,071 | 60,696 |
Security Description | Shares | Value | ||||||
Standard Life Aberdeen PLC | 20,882 | $ | 105,368 | |||||
TechnipFMC PLC (b) | 2,482 | 73,095 | ||||||
TechnipFMC PLC (b) | 1,286 | 37,373 | ||||||
Tesco PLC | 14,684 | 42,413 | ||||||
Tullow Oil PLC (a) | 3,334 | 9,167 | ||||||
Unilever NV | 2,492 | 140,582 | ||||||
Unilever PLC | 1,901 | 105,482 | ||||||
United Utilities Group PLC | 5,524 | 55,437 | ||||||
Vodafone Group PLC | 45,308 | 123,443 | ||||||
Whitbread PLC | 3,545 | 183,998 | ||||||
WPP PLC | 4,276 | 67,932 | ||||||
|
| |||||||
5,335,581 | ||||||||
|
| |||||||
UNITED STATES — 51.5% | ||||||||
3M Co. | 1,244 | 273,083 | ||||||
Abbott Laboratories | 4,642 | 278,149 | ||||||
AbbVie, Inc. | 1,220 | 115,473 | ||||||
Abeona Therapeutics, Inc. (a) (c) | 500 | 7,175 | ||||||
Accenture PLC Class A | 1,244 | 190,954 | ||||||
Adient PLC (c) | 13 | 777 | ||||||
Adobe Systems, Inc. (a) | 1,922 | 415,306 | ||||||
AdvanSix, Inc. (a) | 88 | 3,061 | ||||||
Aetna, Inc. | 1,877 | 317,213 | ||||||
Aflac, Inc. | 4,964 | 217,225 | ||||||
Agenus, Inc. (a) (c) | 1,900 | 8,949 | ||||||
Agilent Technologies, Inc. | 2,482 | 166,046 | ||||||
AGNC Investment Corp. REIT | 1,244 | 23,536 | ||||||
Alexion Pharmaceuticals, Inc. (a) | 944 | 105,218 | ||||||
Allegion PLC | 406 | 34,628 | ||||||
Allergan PLC | 463 | 77,918 | ||||||
Allstate Corp. | 2,482 | 235,294 | ||||||
Alphabet, Inc. Class A (a) | 608 | 630,581 | ||||||
Alphabet, Inc. Class C (a) | 608 | 627,328 | ||||||
Altria Group, Inc. | 2,482 | 154,678 | ||||||
Amazon.com, Inc. (a) | 802 | 1,160,767 | ||||||
American Electric Power Co., Inc. | 2,482 | 170,240 | ||||||
American Express Co. | 2,482 | 231,521 | ||||||
American Tower Corp. REIT | 1,244 | 180,803 | ||||||
Amgen, Inc. | 2,124 | 362,099 | ||||||
Anadarko Petroleum Corp. | 1,244 | 75,150 | ||||||
Annaly Capital Management, Inc. REIT | 2,482 | 25,887 | ||||||
Anthem, Inc. | 1,244 | 273,307 | ||||||
Apache Corp. | 1,244 | 47,869 | ||||||
Apple, Inc. | 8,713 | 1,461,867 | ||||||
Applied Materials, Inc. | 5,389 | 299,682 | ||||||
Archer-Daniels-Midland Co. | 3,726 | 161,597 | ||||||
AT&T, Inc. | 11,045 | 393,754 | ||||||
Automatic Data Processing, Inc. | 1,244 | 141,169 | ||||||
Baker Hughes a GE Co. | 1,884 | 52,319 | ||||||
Bank of America Corp. | 21,134 | 633,809 | ||||||
Bank of New York Mellon Corp. | 3,726 | 192,001 | ||||||
Baxter International, Inc. | 2,429 | 157,982 | ||||||
Becton Dickinson and Co. | 1,244 | 269,575 | ||||||
Bed Bath & Beyond, Inc. | 1,244 | 26,112 | ||||||
Bellicum Pharmaceuticals, Inc. (a) (c) | 1,500 | 9,840 | ||||||
Berkshire Hathaway, Inc. Class B (a) | 1,444 | 288,049 | ||||||
Biogen, Inc. (a) | 763 | 208,925 |
See accompanying notes to financial statements.
26
Table of Contents
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Boeing Co. | 1,244 | $ | 407,883 | |||||
Booking Holdings, Inc. (a) | 92 | 191,396 | ||||||
Brighthouse Financial, Inc. (a) | 367 | 18,864 | ||||||
Bristol-Myers Squibb Co. | 3,726 | 235,669 | ||||||
C.H. Robinson Worldwide, Inc. | 1,244 | 116,575 | ||||||
California Resources Corp. (a) (c) | 81 | 1,389 | ||||||
Calithera Biosciences, Inc. (a) | 1,000 | 6,300 | ||||||
Capital One Financial Corp. | 1,244 | 119,200 | ||||||
Cara Therapeutics, Inc. (a) (c) | 700 | 8,666 | ||||||
Carnival Corp. | 1,244 | 81,581 | ||||||
Caterpillar, Inc. | 1,244 | 183,341 | ||||||
CBS Corp. Class B | 2,214 | 113,777 | ||||||
CDK Global, Inc. | 409 | 25,906 | ||||||
Celgene Corp. (a) | 2,489 | 222,044 | ||||||
CenturyLink, Inc. | 2,482 | 40,779 | ||||||
Charles Schwab Corp. | 6,214 | 324,495 | ||||||
Charter Communications, Inc. Class A (a) | 529 | 164,635 | ||||||
Chemours Co. | 422 | 20,556 | ||||||
Chesapeake Energy Corp. (a) (c) | 3,726 | 11,252 | ||||||
Chevron Corp. | 3,122 | 356,033 | ||||||
Chubb, Ltd. | 1,895 | 259,179 | ||||||
Church & Dwight Co., Inc. | 3,755 | 189,102 | ||||||
Cisco Systems, Inc. | 12,415 | 532,479 | ||||||
Citigroup, Inc. | 6,214 | 419,445 | ||||||
Citrix Systems, Inc. (a) | 1,244 | 115,443 | ||||||
Clorox Co. | 1,244 | 165,589 | ||||||
Coca-Cola Co. | 4,977 | 216,151 | ||||||
Cognizant Technology Solutions Corp. Class A | 2,489 | 200,364 | ||||||
Colgate-Palmolive Co. | 2,482 | 177,910 | ||||||
Comcast Corp. Class A | 6,410 | 219,030 | ||||||
CommerceHub, Inc. Class A (a) | 46 | 1,035 | ||||||
CommerceHub, Inc. Series C (a) | 105 | 2,361 | ||||||
Community Healthcare Trust, Inc. REIT (c) | 400 | 10,296 | ||||||
Conagra Brands, Inc. | 2,482 | 91,536 | ||||||
ConocoPhillips | 2,482 | 147,158 | ||||||
Corning, Inc. | 4,977 | 138,759 | ||||||
Costco Wholesale Corp. | 1,244 | 234,407 | ||||||
Coty, Inc. Class A (c) | 659 | 12,060 | ||||||
CSX Corp. | 3,177 | 176,991 | ||||||
Cummins, Inc. | 1,244 | 201,640 | ||||||
CVS Health Corp. | 2,482 | 154,405 | ||||||
Danaher Corp. | 2,482 | 243,013 | ||||||
Deere & Co. | 1,244 | 193,218 | ||||||
Dell Technologies, Inc. Class V (a) | 555 | 40,632 | ||||||
Devon Energy Corp. | 1,244 | 39,547 | ||||||
Discover Financial Services | 2,482 | 178,530 | ||||||
Dollar Tree, Inc. (a) | 1,675 | 158,957 | ||||||
DowDuPont, Inc. | 6,907 | 440,045 | ||||||
Duke Energy Corp. | 1,351 | 104,662 | ||||||
DXC Technology Co. | 460 | 46,244 | ||||||
Easterly Government Properties, Inc. REIT (c) | 7,000 | 142,800 | ||||||
Eaton Corp. PLC | 2,482 | 198,337 | ||||||
eBay, Inc. (a) | 3,726 | 149,934 | ||||||
Ecolab, Inc. | 1,244 | 170,515 |
Security Description | Shares | Value | ||||||
Edison International | 2,482 | $ | 158,004 | |||||
Eli Lilly & Co. | 2,482 | 192,032 | ||||||
Emerson Electric Co. | 2,482 | 169,521 | ||||||
Entercom Communications Corp. Class A (c) | 1,453 | 14,021 | ||||||
EOG Resources, Inc. | 2,489 | 262,017 | ||||||
Equity Residential REIT | 1,244 | 76,655 | ||||||
Estee Lauder Cos., Inc. Class A | 1,244 | 186,252 | ||||||
Exelon Corp. | 2,482 | 96,823 | ||||||
Express Scripts Holding Co. (a) | 1,736 | 119,923 | ||||||
Exxon Mobil Corp. | 6,652 | 496,306 | ||||||
Facebook, Inc. Class A (a) | 3,299 | 527,147 | ||||||
Fastenal Co. (c) | 1,244 | 67,910 | ||||||
FedEx Corp. | 1,244 | 298,697 | ||||||
FirstEnergy Corp. | 2,482 | 84,413 | ||||||
Ford Motor Co. | 9,934 | 110,069 | ||||||
Fortive Corp. | 1,241 | 96,202 | ||||||
Franklin Resources, Inc. | 3,726 | 129,218 | ||||||
Freeport-McMoRan, Inc. (a) | 2,482 | 43,609 | ||||||
GCI Liberty, Inc. Class A (a) | 314 | 16,598 | ||||||
General Dynamics Corp. | 1,244 | 274,800 | ||||||
General Electric Co. | 17,316 | 233,420 | ||||||
General Mills, Inc. | 1,244 | 56,055 | ||||||
General Motors Co. | 2,482 | 90,196 | ||||||
Geron Corp. (a) (c) | 3,100 | 13,175 | ||||||
Gilead Sciences, Inc. | 3,293 | 248,259 | ||||||
Gladstone Commercial Corp. REIT | 4,500 | 78,030 | ||||||
Goldman Sachs Group, Inc. | 1,244 | 313,314 | ||||||
Halliburton Co. | 2,482 | 116,505 | ||||||
Halyard Health, Inc. (a) | 155 | 7,142 | ||||||
HCP, Inc. REIT | 3,726 | 86,555 | ||||||
Hershey Co. | 1,244 | 123,106 | ||||||
Hess Corp. | 1,244 | 62,971 | ||||||
Hewlett Packard Enterprise Co. | 4,977 | 87,297 | ||||||
Home Depot, Inc. | 2,482 | 442,392 | ||||||
Honeywell International, Inc. | 2,482 | 358,674 | ||||||
Hovnanian Enterprises, Inc. Class A (a) | 6,700 | 12,261 | ||||||
HP, Inc. | 4,977 | 109,096 | ||||||
Illinois Tool Works, Inc. | 1,877 | 294,051 | ||||||
ImmunoGen, Inc. (a) (c) | 700 | 7,364 | ||||||
Ingersoll-Rand PLC | 2,482 | 212,236 | ||||||
Intel Corp. | 9,534 | 496,531 | ||||||
International Business Machines Corp. | 2,004 | 307,474 | ||||||
Intuit, Inc. | 1,244 | 215,647 | ||||||
Iron Mountain, Inc. REIT | 91 | 2,990 | ||||||
Iron Mountain, Inc. (c) | 29 | 952 | ||||||
J.M. Smucker Co. | 1,244 | 154,268 | ||||||
Johnson & Johnson | 3,726 | 477,487 | ||||||
Johnson Controls International PLC | 3,290 | 115,940 | ||||||
JPMorgan Chase & Co. | 7,457 | 820,046 | ||||||
Juniper Networks, Inc. | 2,482 | 60,387 | ||||||
Kellogg Co. (c) | 1,244 | 80,872 | ||||||
Keysight Technologies, Inc. (a) | 1,243 | 65,121 | ||||||
Kimberly-Clark Corp. | 1,244 | 137,002 | ||||||
Kinder Morgan, Inc. | 3,586 | 54,005 | ||||||
Kohl’s Corp. (c) | 1,244 | 81,494 |
See accompanying notes to financial statements.
27
Table of Contents
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Kraft Heinz Co. | 203 | $ | 12,645 | |||||
L Brands, Inc. (c) | 1,577 | 60,257 | ||||||
Lamb Weston Holdings, Inc. | 826 | 48,090 | ||||||
Las Vegas Sands Corp. | 1,244 | 89,444 | ||||||
Leidos Holdings, Inc. | 313 | 20,470 | ||||||
Liberty Expedia Holdings, Inc. Class A (a) | 210 | 8,249 | ||||||
Liberty Interactive Corp. QVC Group Class A (a) | 2,482 | 62,472 | ||||||
Liberty TripAdvisor Holdings, Inc. Class A (a) | 168 | 1,806 | ||||||
Lockheed Martin Corp. | 1,002 | 338,606 | ||||||
LogMeIn, Inc. | 213 | 24,612 | ||||||
Lowe’s Cos., Inc. | 3,726 | 326,956 | ||||||
LyondellBasell Industries NV Class A | 1,244 | 131,466 | ||||||
Macy’s, Inc. (c) | 2,482 | 73,815 | ||||||
Mallinckrodt PLC (a) | 155 | 2,244 | ||||||
Marathon Oil Corp. | 3,726 | 60,100 | ||||||
Marathon Petroleum Corp. | 2,490 | 182,044 | ||||||
Marsh & McLennan Cos., Inc. | 2,482 | 204,988 | ||||||
Mastercard, Inc. Class A | 800 | 140,128 | ||||||
Mattel, Inc. (c) | 3,477 | 45,723 | ||||||
McCormick & Co., Inc. | 1,870 | 198,949 | ||||||
McDonald’s Corp. | 1,244 | 194,537 | ||||||
McKesson Corp. | 944 | 132,981 | ||||||
Medtronic PLC | 5,150 | 413,133 | ||||||
Merck & Co., Inc. | 4,977 | 271,097 | ||||||
MetLife, Inc. | 3,726 | 170,986 | ||||||
Microsoft Corp. | 13,664 | 1,247,113 | ||||||
Mondelez International, Inc. Class A | 1,244 | 51,912 | ||||||
Monsanto Co. | 1,244 | 145,162 | ||||||
Morgan Stanley | 3,726 | 201,055 | ||||||
Mosaic Co. | 1,244 | 30,204 | ||||||
National Oilwell Varco, Inc. | 1,244 | 45,792 | ||||||
Nektar Therapeutics (a) | 100 | 10,626 | ||||||
NetApp, Inc. | 1,244 | 76,742 | ||||||
Netflix, Inc. (a) | 200 | 59,070 | ||||||
Newmont Mining Corp. | 1,244 | 48,603 | ||||||
News Corp. Class A | 756 | 11,945 | ||||||
NexPoint Residential Trust, Inc. REIT | 5,000 | 124,200 | ||||||
NextEra Energy, Inc. | 1,244 | 203,182 | ||||||
NIKE, Inc. Class B | 4,158 | 276,257 | ||||||
Noble Corp. PLC (a) (c) | 2,482 | 9,208 | ||||||
Noble Energy, Inc. | 2,482 | 75,205 | ||||||
Norfolk Southern Corp. | 1,244 | 168,910 | ||||||
Northrop Grumman Corp. | 833 | 290,817 | ||||||
Novavax, Inc. (a) (c) | 3,700 | 7,770 | ||||||
NOW, Inc. (a) (c) | 310 | 3,168 | ||||||
NVIDIA Corp. | 800 | 185,272 | ||||||
Occidental Petroleum Corp. | 2,482 | 161,231 | ||||||
Oracle Corp. | 8,689 | 397,522 | ||||||
O’Reilly Automotive, Inc. (a) | 517 | 127,895 | ||||||
Outfront Media, Inc. REIT | 3 | 56 | ||||||
Parker-Hannifin Corp. | 1,244 | 212,761 | ||||||
PayPal Holdings, Inc. (a) | 3,726 | 282,692 |
Security Description | Shares | Value | ||||||
PepsiCo, Inc. | 2,482 | $ | 270,910 | |||||
Perrigo Co. PLC | 21 | 1,750 | ||||||
Pfizer, Inc. | 12,269 | 435,427 | ||||||
PG&E Corp. | 1,244 | 54,649 | ||||||
Philip Morris International, Inc. | 2,482 | 246,711 | ||||||
Phillips 66 | 608 | 58,319 | ||||||
Pioneer Natural Resources Co. | 844 | 144,982 | ||||||
PNC Financial Services Group, Inc. | 1,244 | 188,143 | ||||||
PPL Corp. | 3,726 | 105,409 | ||||||
Praxair, Inc. | 1,244 | 179,509 | ||||||
Procter & Gamble Co. | 2,714 | 215,166 | ||||||
Progenics Pharmaceuticals, Inc. (a) (c) | 2,000 | 14,920 | ||||||
Prologis, Inc. REIT | 3,726 | 234,701 | ||||||
Prudential Financial, Inc. | 1,882 | 194,881 | ||||||
PTC Therapeutics, Inc. (a) | 300 | 8,118 | ||||||
Public Service Enterprise Group, Inc. | 2,482 | 124,696 | ||||||
Public Storage REIT | 1,042 | 208,806 | ||||||
QUALCOMM, Inc. | 3,726 | 206,458 | ||||||
Quality Care Properties, Inc. REIT (a) | 744 | 14,456 | ||||||
Range Resources Corp. (c) | 1,244 | 18,088 | ||||||
Raytheon Co. | 1,244 | 268,480 | ||||||
Retail Opportunity Investments Corp. REIT | 10,219 | 180,570 | ||||||
Ross Stores, Inc. | 2,190 | 170,776 | ||||||
salesforce.com, Inc. (a) | 2,566 | 298,426 | ||||||
Sangamo Therapeutics, Inc. (a) | 300 | 5,700 | ||||||
Schlumberger, Ltd. | 3,654 | 236,706 | ||||||
Seagate Technology PLC | 1,244 | 72,799 | ||||||
Sears Holdings Corp. (a) | 3,000 | 8,010 | ||||||
Simon Property Group, Inc. REIT | 1,244 | 192,011 | ||||||
Southern Co. | 1,244 | 55,557 | ||||||
Southwestern Energy Co. (a) | 1,244 | 5,386 | ||||||
Starbucks Corp. | 4,962 | 287,250 | ||||||
State Street Corp. (g) | 1,244 | 124,064 | ||||||
Synchrony Financial | 1,387 | 46,506 | ||||||
Sysco Corp. | 2,482 | 148,821 | ||||||
Tapestry, Inc. | 1,244 | 65,447 | ||||||
Target Corp. | 1,244 | 86,371 | ||||||
Tesla, Inc. (a) | 100 | 26,613 | ||||||
Texas Instruments, Inc. | 3,726 | 387,094 | ||||||
Thermo Fisher Scientific, Inc. | 1,879 | 387,938 | ||||||
Time Warner, Inc. | 2,004 | 189,538 | ||||||
TJX Cos., Inc. | 2,482 | 202,432 | ||||||
Travelers Cos., Inc. | 1,244 | 172,742 | ||||||
Twenty-First Century Fox, Inc. Class A | 6,214 | 227,992 | ||||||
Twitter, Inc. (a) | 200 | 5,802 | ||||||
Tyson Foods, Inc. Class A | 2,970 | 217,374 | ||||||
UMH Properties, Inc. | 7,100 | 95,211 | ||||||
Union Pacific Corp. | 1,889 | 253,938 | ||||||
United Financial Bancorp, Inc. | 10,408 | 168,610 | ||||||
United Parcel Service, Inc. Class B | 1,244 | 130,197 | ||||||
United Technologies Corp. | 1,244 | 156,520 | ||||||
UnitedHealth Group, Inc. | 2,482 | 531,148 | ||||||
US Bancorp | 3,726 | 188,163 |
See accompanying notes to financial statements.
28
Table of Contents
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Valero Energy Corp. | 2,482 | $ | 230,255 | |||||
Vanda Pharmaceuticals, Inc. (a) | 400 | 6,740 | ||||||
Vector Group, Ltd. (c) | 8,194 | 167,076 | ||||||
Verizon Communications, Inc. | 4,208 | 201,227 | ||||||
Viacom, Inc. Class B | 1,244 | 38,639 | ||||||
Visa, Inc. Class A (c) | 4,986 | 596,425 | ||||||
Voyager Therapeutics, Inc. (a) (c) | 300 | 5,637 | ||||||
Walmart, Inc. | 2,482 | 220,824 | ||||||
Walgreens Boots Alliance, Inc. | 2,482 | 162,497 | ||||||
Walt Disney Co. | 3,726 | 374,239 | ||||||
Washington Prime Group, Inc. REIT | 619 | 4,129 | ||||||
Waste Management, Inc. | 2,482 | 208,786 | ||||||
Weatherford International PLC (a) (c) | 6,214 | 14,230 | ||||||
Wells Fargo & Co. | 9,634 | 504,918 | ||||||
Western Digital Corp. | 1,541 | 142,188 | ||||||
Williams Cos., Inc. | 3,726 | 92,628 | ||||||
Windstream Holdings, Inc. | 8,600 | 12,126 | ||||||
Yum! Brands, Inc. | 1,244 | 105,902 | ||||||
Zoetis, Inc. | 143 | 11,942 | ||||||
|
| |||||||
47,862,430 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 92,419,523 | |||||||
|
| |||||||
RIGHTS — 0.0% (d) | ||||||||
SOUTH KOREA — 0.0% (d) | ||||||||
Samsung Heavy Industries Co., Ltd. | 364 | 709 | ||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 2.0% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (h) (i) | 222,089 | 222,089 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (h) (j) | 1,690,862 | 1,690,862 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| 1,912,951 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 101.4% | 94,333,183 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.4)% |
| (1,335,771 | ) | |||||
|
| |||||||
NET ASSETS — 100.0% | $ | 92,997,412 | ||||||
|
|
(a) | Non-income producing security. |
(b) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(c) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(d) | Amount is less than 0.05% of net assets. |
(e) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.1% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(f) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $132,395 representing 0.2% of net assets. |
(g) | The Fund invested in an affiliated entity, State Street Corp. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. (h) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(i) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(j) | Investment of cash collateral for securities loaned. |
ADR | =American Depositary Receipt | |
GDR | =Global Depositary Receipt | |
NVDR | =Non Voting Depositary Receipt | |
REIT | =Real Estate Investment Trust |
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
ASSETS: | ||||||||||||||||
INVESTMENTS: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Australia | $ | 2,209,657 | $ — | $— | $ | 2,209,657 |
See accompanying notes to financial statements.
29
Table of Contents
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Austria | $ | 98,095 | $ — | $— | $ | 98,095 | ||||||||||||||
Belgium | 307,528 | — | — | 307,528 | ||||||||||||||||
Brazil | 744,080 | — | — | 744,080 | ||||||||||||||||
Canada | 2,711,053 | — | — | 2,711,053 | ||||||||||||||||
Chile | 39,665 | — | — | 39,665 | ||||||||||||||||
China | 3,157,464 | — | — | 3,157,464 | ||||||||||||||||
Colombia | 10,925 | — | — | 10,925 | ||||||||||||||||
Denmark | 630,539 | — | — | 630,539 | ||||||||||||||||
Finland | 389,526 | — | — | 389,526 | ||||||||||||||||
France | 2,990,569 | — | — | 2,990,569 | ||||||||||||||||
Germany | 2,806,578 | — | — | 2,806,578 | ||||||||||||||||
Hong Kong | 1,290,199 | — | — | 1,290,199 | ||||||||||||||||
Hungary | 70,798 | — | — | 70,798 | ||||||||||||||||
India | 828,018 | — | — | 828,018 | ||||||||||||||||
Indonesia | 406,824 | — | — | 406,824 | ||||||||||||||||
Ireland | 133,352 | — | — | 133,352 | ||||||||||||||||
Israel | 308,990 | — | — | 308,990 | ||||||||||||||||
Italy | 680,090 | — | — | 680,090 | ||||||||||||||||
Japan | 7,574,308 | — | — | 7,574,308 | ||||||||||||||||
Luxembourg | 43,333 | — | — | 43,333 | ||||||||||||||||
Malaysia | 102,672 | — | — | 102,672 | ||||||||||||||||
Mexico | 351,246 | — | — | 351,246 | ||||||||||||||||
Netherlands | 1,484,623 | — | — | 1,484,623 | ||||||||||||||||
Norway | 283,979 | — | — | 283,979 | ||||||||||||||||
Peru | 4,935 | — | — | 4,935 | ||||||||||||||||
Philippines | 25,448 | — | — | 25,448 | ||||||||||||||||
Poland | 33,094 | — | — | 33,094 | ||||||||||||||||
Russia | 321,251 | — | — | 321,251 | ||||||||||||||||
Singapore | 528,779 | — | — | 528,779 | ||||||||||||||||
South Africa | 752,079 | — | — | 752,079 | ||||||||||||||||
South Korea | 1,932,653 | — | — | 1,932,653 | ||||||||||||||||
Spain | 881,507 | — | — | 881,507 | ||||||||||||||||
Sweden | 920,768 | — | — | 920,768 | ||||||||||||||||
Switzerland | 2,579,352 | — | — | 2,579,352 | ||||||||||||||||
Taiwan | 1,275,385 | — | — | 1,275,385 | ||||||||||||||||
Thailand | 53,755 | 132,395 | — | 186,150 | ||||||||||||||||
Turkey | 126,000 | — | — | 126,000 | ||||||||||||||||
United Kingdom | 5,335,581 | — | — | 5,335,581 | ||||||||||||||||
United States | 47,862,430 | — | — | 47,862,430 | ||||||||||||||||
Rights | ||||||||||||||||||||
South Korea | 709 | — | — | 709 | ||||||||||||||||
Short-Term Investments | 1,912,951 | — | — | 1,912,951 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 94,200,788 | $ | 132,395 | $— | $ | 94,333,183 | |||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
30
Table of Contents
SPDR MSCI ACWI IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Corp | 1,244 | $ | 118,852 | $ | — | $ | — | $— | $5,212 | 1,244 | $ | 124,064 | $1,045 | $— | ||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 55,517 | 55,517 | 2,121,582 | 1,955,010 | — | — | 222,089 | 222,089 | 1,279 | — | ||||||||||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 985,141 | 985,141 | 6,908,805 | 6,203,084 | — | — | 1,690,862 | 1,690,862 | 6,970 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 1,159,510 | $ | 9,030,387 | $8,158,094 | $— | $5,212 | $2,037,015 | $9,294 | $— | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
31
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SUMMARY SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS – 99.2% | ||||||||
ARGENTINA – 0.0% (a) | ||||||||
Other Security | 132 | $ | 47,043 | |||||
|
| |||||||
AUSTRALIA – 2.0% | ||||||||
Other Securities | 331,281 | 3,031,668 | ||||||
|
| |||||||
AUSTRIA – 0.1% | ||||||||
Other Securities | 2,573 | 118,516 | ||||||
|
| |||||||
BELGIUM – 0.3% | ||||||||
Other Securities | 5,794 | 487,020 | ||||||
|
| |||||||
BERMUDA – 0.0% (a) | ||||||||
Other Security | 1,918 | 40,278 | ||||||
|
| |||||||
BRAZIL – 1.0% | ||||||||
Other Securities | 152,994 | 1,463,939 | ||||||
|
| |||||||
CANADA – 3.1% | ||||||||
Other Securities | 163,577 | 4,674,085 | ||||||
|
| |||||||
CHILE – 0.3% | ||||||||
Other Securities | 114,703 | 378,180 | ||||||
|
| |||||||
CHINA – 3.5% | ||||||||
Alibaba Group Holding, Ltd. ADR (b) (c) | 3,785 | 694,699 | ||||||
Tencent Holdings, Ltd | 19,184 | 1,001,206 | ||||||
Other Securities | 2,805,927 | 3,578,033 | ||||||
|
| |||||||
5,273,938 | ||||||||
|
| |||||||
COLOMBIA – 0.2% | ||||||||
Other Securities | 211,074 | 353,930 | ||||||
|
| |||||||
CZECH REPUBLIC – 0.0% (a) | ||||||||
Other Security | 477 | 21,746 | ||||||
|
| |||||||
DENMARK – 0.5% | ||||||||
Other Securities | 16,089 | 735,352 | ||||||
|
| |||||||
FINLAND – 0.3% | ||||||||
Other Securities | 31,117 | 431,269 | ||||||
|
| |||||||
FRANCE – 3.6% | ||||||||
Other Securities | 98,402 | 5,452,943 | ||||||
|
| |||||||
GERMANY – 3.1% | ||||||||
Other Securities | 76,771 | 4,732,899 | ||||||
|
| |||||||
GREECE – 0.0% (a) | ||||||||
Other Securities | 4,660 | 25,879 | ||||||
|
| |||||||
HONG KONG – 1.2% | ||||||||
Hanergy Thin Film Power Group, Ltd. (c) (d) | 24,000 | — | ||||||
Other Securities | 366,109 | 1,772,137 | ||||||
|
| |||||||
1,772,137 | ||||||||
|
| |||||||
HUNGARY – 0.0% (a) | ||||||||
Other Security | 1,274 | 57,317 | ||||||
|
| |||||||
INDIA – 0.9% | ||||||||
Other Securities | 150,483 | 1,377,639 | ||||||
|
| |||||||
INDONESIA – 0.3% | ||||||||
Other Securities | 866,050 | 389,526 | ||||||
|
| |||||||
IRELAND – 0.2% | ||||||||
Other Securities | 8,843 | 245,153 | ||||||
|
|
Security Description | Shares | Value | ||||||
ISRAEL – 0.1% | ||||||||
Other Securities | 12,327 | $ | 202,655 | |||||
|
| |||||||
ITALY – 0.7% | ||||||||
Other Securities | 254,302 | 1,104,690 | ||||||
|
| |||||||
JAPAN – 8.0% | ||||||||
Mitsui & Co., Ltd. | 37,600 | 639,925 | ||||||
Toyota Motor Corp. | 9,700 | 624,047 | ||||||
Other Securities | 586,738 | 10,905,335 | ||||||
|
| |||||||
12,169,307 | ||||||||
|
| |||||||
LUXEMBOURG – 0.1% | ||||||||
Other Securities | 4,234 | 76,584 | ||||||
|
| |||||||
MACAU – 0.0% (a) | ||||||||
Other Security | 6,800 | 17,545 | ||||||
|
| |||||||
MALAYSIA – 0.4% | ||||||||
Other Securities | 355,638 | 545,348 | ||||||
|
| |||||||
MEXICO – 0.4% | ||||||||
Other Securities | 195,618 | 564,384 | ||||||
|
| |||||||
NETHERLANDS – 0.8% | ||||||||
Other Securities | 42,683 | 1,219,490 | ||||||
|
| |||||||
NEW ZEALAND – 0.1% | ||||||||
Other Security | 47,457 | 97,742 | ||||||
|
| |||||||
NORWAY – 0.3% | ||||||||
Other Securities | 28,510 | 505,288 | ||||||
|
| |||||||
PERU – 0.1% | ||||||||
Other Securities | 3,744 | 192,723 | ||||||
|
| |||||||
PHILIPPINES – 0.1% | ||||||||
Other Securities | 40,135 | 79,916 | ||||||
|
| |||||||
POLAND – 0.1% | ||||||||
Other Securities | 10,834 | 211,558 | ||||||
|
| |||||||
PORTUGAL – 0.1% | ||||||||
Other Security | 8,029 | 151,129 | ||||||
|
| |||||||
QATAR – 0.1% | ||||||||
Other Securities | 15,320 | 109,685 | ||||||
|
| |||||||
ROMANIA – 0.0% | ||||||||
Other Security | 1,449 | 14,064 | ||||||
|
| |||||||
RUSSIA – 0.3% | ||||||||
Other Securities | 72,809 | 470,201 | ||||||
|
| |||||||
SINGAPORE – 0.6% | ||||||||
Other Securities | 211,272 | 962,056 | ||||||
|
| |||||||
SOUTH AFRICA – 0.9% | ||||||||
Other Securities | 227,493 | 1,396,235 | ||||||
|
| |||||||
SOUTH KOREA – 1.7% | ||||||||
Samsung Electronics Co., Ltd. | 324 | 745,331 | ||||||
Other Securities | 31,155 | 1,896,237 | ||||||
|
| |||||||
2,641,568 | ||||||||
|
| |||||||
SPAIN – 1.2% | ||||||||
Other Securities | 160,181 | 1,748,529 | ||||||
|
| |||||||
SWEDEN – 0.9% | ||||||||
Other Securities | 79,428 | 1,437,721 | ||||||
|
|
See accompanying notes to financial statements.
32
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SWITZERLAND – 2.6% | ||||||||
Nestle SA | 10,933 | $ | 863,360 | |||||
Novartis AG | 7,418 | 598,491 | ||||||
Roche Holding AG | 2,349 | 537,454 | ||||||
Other Securities | 36,568 | 1,908,001 | ||||||
|
| |||||||
3,907,306 | ||||||||
|
| |||||||
TAIWAN – 1.4% | ||||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 88,000 | 736,427 | ||||||
Other Securities | 993,022 | 1,360,393 | ||||||
|
| |||||||
2,096,820 | ||||||||
|
| |||||||
THAILAND – 0.2% | ||||||||
Other Securities | 238,338 | 308,452 | ||||||
|
| |||||||
TURKEY – 0.1% | ||||||||
Other Securities | 90,280 | 157,845 | ||||||
|
| |||||||
UNITED ARAB EMIRATES – 0.1% | ||||||||
Other Securities | 30,406 | 78,465 | ||||||
|
| |||||||
UNITED KINGDOM – 5.5% | ||||||||
HSBC Holdings PLC | 73,549 | 686,523 | ||||||
Other Securities | 952,038 | 7,708,359 | ||||||
|
| |||||||
8,394,882 | ||||||||
|
| |||||||
UNITED STATES – 51.7% | ||||||||
AbbVie, Inc. | 5,330 | 504,485 | ||||||
Alphabet, Inc. Class A (c) | 957 | 992,543 | ||||||
Alphabet, Inc. Class C (c) | 1,084 | 1,118,460 | ||||||
Amazon.com, Inc. (c) | 1,375 | 1,990,093 | ||||||
Apple, Inc. | 17,425 | 2,923,567 | ||||||
AT&T, Inc. | 21,500 | 766,475 | ||||||
Bank of America Corp. | 34,890 | 1,046,351 | ||||||
Berkshire Hathaway, Inc. Class B (c) | 2,512 | 501,094 | ||||||
Boeing Co. | 2,132 | 699,040 | ||||||
Cisco Systems, Inc. | 17,467 | 749,160 | ||||||
Citigroup, Inc. | 10,098 | 681,615 | ||||||
Coca-Cola Co. | 16,555 | 718,984 | ||||||
Comcast Corp. Class A | 16,168 | 552,461 | ||||||
Eversource Energy | 9,219 | 543,184 | ||||||
Facebook, Inc. Class A (c) | 7,865 | 1,256,748 | ||||||
Home Depot, Inc. | 4,346 | 774,631 | ||||||
Intel Corp. | 17,195 | 895,516 | ||||||
International Business Machines Corp. | 3,330 | 510,922 | ||||||
Johnson & Johnson | 9,560 | 1,225,114 | ||||||
JPMorgan Chase & Co. | 11,997 | 1,319,310 | ||||||
Mastercard, Inc. Class A | 3,414 | 597,996 | ||||||
McDonald’s Corp. | 3,097 | 484,309 | ||||||
Merck & Co., Inc. | 9,952 | 542,085 | ||||||
Microsoft Corp. | 24,899 | 2,272,532 | ||||||
Netflix, Inc. (c) | 1,573 | 464,586 | ||||||
NVIDIA Corp. | 2,042 | 472,907 | ||||||
ONEOK, Inc. | 10,283 | 585,308 | ||||||
Oracle Corp. | 11,489 | 525,622 | ||||||
PepsiCo, Inc. | 5,429 | 592,575 | ||||||
Pfizer, Inc. | 20,715 | 735,175 | ||||||
Philip Morris International, Inc. | 5,687 | 565,288 | ||||||
Phillips 66 | 6,681 | 640,842 |
Security Description | Shares | Value | ||||||
Procter & Gamble Co. | 9,284 | $ | 736,036 | |||||
Schlumberger, Ltd. | 8,723 | 565,076 | ||||||
State Street Corp. (e) | 1,155 | 115,188 | ||||||
UnitedHealth Group, Inc. | 3,520 | 753,280 | ||||||
Verizon Communications, Inc. | 14,049 | 671,823 | ||||||
Visa, Inc. Class A | 6,688 | 800,019 | ||||||
Walmart, Inc. | 5,345 | 475,545 | ||||||
Walt Disney Co. | 5,671 | 569,595 | ||||||
Wells Fargo & Co. | 15,886 | 832,585 | ||||||
Other Securities | 656,435 | 44,565,043 | ||||||
|
| |||||||
78,333,168 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 150,305,813 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS -1.8% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (f) (g) | 345,905 | 345,905 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (f) (h) | 2,338,517 | 2,338,517 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| 2,684,422 | ||||||
|
| |||||||
TOTAL INVESTMENTS - 101.0% | 152,990,235 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (1.0)% |
| (1,577,751 | ) | |||||
|
| |||||||
NET ASSETS - 100.0% | $ | 151,412,484 | ||||||
|
|
See accompanying notes to financial statements.
33
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available on the Fund’s website at www.spdrs.com, without charge, upon request by calling 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
(a) | Amount is less than 0.05% of net assets. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Non-income producing security. |
(d) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the security is $0, representing 0.0% of the Fund’s net assets. |
(e) | The Fund invested in an affiliated entity, State Street Corp. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(f) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(g) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(h) | Investment of cash collateral for securities loaned. |
ADR American Depositary Receipt
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
ASSETS: | ||||||||||||||||
INVESTMENTS: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Argentina | $ | 47,043 | $ — | $— | $ | 47,043 | ||||||||||
Australia | 3,031,668 | — | — | 3,031,668 | ||||||||||||
Austria | 118,516 | — | — | 118,516 | ||||||||||||
Belgium | 487,020 | — | — | 487,020 | ||||||||||||
Bermuda | 40,278 | — | — | 40,278 | ||||||||||||
Brazil | 1,463,939 | — | — | 1,463,939 | ||||||||||||
Canada | 4,674,085 | — | — | 4,674,085 | ||||||||||||
Chile | 378,180 | — | — | 378,180 | ||||||||||||
China | 5,273,938 | — | — | 5,273,938 | ||||||||||||
Colombia | 353,930 | — | — | 353,930 | ||||||||||||
Czech Republic | 21,746 | — | — | 21,746 | ||||||||||||
Denmark | 735,352 | — | — | 735,352 | ||||||||||||
Finland | 431,269 | — | — | 431,269 | ||||||||||||
France | 5,452,943 | — | — | 5,452,943 | ||||||||||||
Germany | 4,732,899 | — | — | 4,732,899 | ||||||||||||
Greece | 25,879 | — | — | 25,879 | ||||||||||||
Hong Kong | 1,772,137 | — | 0(a) | 1,772,137 | ||||||||||||
Hungary | 57,317 | — | — | 57,317 | ||||||||||||
India | 1,377,639 | — | — | 1,377,639 | ||||||||||||
Indonesia | 389,526 | — | — | 389,526 |
See accompanying notes to financial statements.
34
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Ireland | $ | 245,153 | $ — | $— | $ | 245,153 | ||||||||||||||
Israel | 202,655 | — | — | 202,655 | ||||||||||||||||
Italy | 1,104,690 | — | — | 1,104,690 | ||||||||||||||||
Japan | 12,169,307 | — | — | 12,169,307 | ||||||||||||||||
Luxembourg | 76,584 | — | — | 76,584 | ||||||||||||||||
Macau | 17,545 | — | — | 17,545 | ||||||||||||||||
Malaysia | 545,348 | — | — | 545,348 | ||||||||||||||||
Mexico | 564,384 | — | — | 564,384 | ||||||||||||||||
Netherlands | 1,219,490 | — | — | 1,219,490 | ||||||||||||||||
New Zealand | 97,742 | — | — | 97,742 | ||||||||||||||||
Norway | 505,288 | — | — | 505,288 | ||||||||||||||||
Peru | 192,723 | — | — | 192,723 | ||||||||||||||||
Philippines | 79,916 | — | — | 79,916 | ||||||||||||||||
Poland | 211,558 | — | — | 211,558 | ||||||||||||||||
Portugal | 151,129 | — | — | 151,129 | ||||||||||||||||
Qatar | 109,685 | — | — | 109,685 | ||||||||||||||||
Romania | 14,064 | — | — | 14,064 | ||||||||||||||||
Russia | 470,201 | — | — | 470,201 | ||||||||||||||||
Singapore | 962,056 | — | — | 962,056 | ||||||||||||||||
South Africa | 1,396,235 | — | — | 1,396,235 | ||||||||||||||||
South Korea | 2,641,568 | — | — | 2,641,568 | ||||||||||||||||
Spain | 1,748,529 | — | — | 1,748,529 | ||||||||||||||||
Sweden | 1,437,721 | — | — | 1,437,721 | ||||||||||||||||
Switzerland | 3,907,306 | — | — | 3,907,306 | ||||||||||||||||
Taiwan | 2,096,820 | — | — | 2,096,820 | ||||||||||||||||
Thailand | 48,302 | 260,150 | — | 308,452 | ||||||||||||||||
Turkey | 157,845 | — | — | 157,845 | ||||||||||||||||
United Arab Emirates | 78,465 | — | — | 78,465 | ||||||||||||||||
United Kingdom | 8,394,882 | — | — | 8,394,882 | ||||||||||||||||
United States | 78,333,168 | — | — | 78,333,168 | ||||||||||||||||
Short-Term Investments | 2,684,422 | — | — | 2,684,422 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 152,730,085 | $ | 260,150 | $ 0 | $ | 152,990,235 | |||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held a Level 3 security that was valued at $0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Corp. | 1,555 | $ | 148,565 | $ | — | $ | 38,137 | $6,070 | $(1,310) | 1,155 | $ | 115,188 | $970 | $— | ||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 215,632 | 215,632 | 2,057,884 | 1,927,611 | — | — | 345,905 | 345,905 | 1,318 | — | ||||||||||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 378,038 | 378,038 | 9,317,082 | 7,356,603 | — | — | 2,338,517 | 2,338,517 | 4,991 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 742,235 | $ | 11,374,966 | $9,322,351 | $6,070 | $(1,310) | $2,799,610 | $7,279 | $— | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
35
Table of Contents
SPDR MSCI CANADA STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.8% | ||||||||
AEROSPACE & DEFENSE — 1.6% | ||||||||
Bombardier, Inc. Class B (a) | 25,073 | $ | 72,929 | |||||
CAE, Inc. | 29,817 | 554,595 | ||||||
|
| |||||||
627,524 | ||||||||
|
| |||||||
AUTO COMPONENTS — 3.4% | ||||||||
Linamar Corp. | 5,218 | 284,850 | ||||||
Magna International, Inc. | 19,495 | 1,097,345 | ||||||
|
| |||||||
1,382,195 | ||||||||
|
| |||||||
BANKS — 19.7% | ||||||||
Bank of Montreal | 14,435 | 1,089,637 | ||||||
Bank of Nova Scotia | 22,052 | 1,357,415 | ||||||
Canadian Imperial Bank of Commerce | 18,477 | 1,629,788 | ||||||
National Bank of Canada | 9,247 | 434,934 | ||||||
Royal Bank of Canada | 22,491 | 1,736,129 | ||||||
Toronto-Dominion Bank | 29,006 | 1,644,854 | ||||||
|
| |||||||
7,892,757 | ||||||||
|
| |||||||
CAPITAL MARKETS — 4.3% | ||||||||
Brookfield Asset Management, Inc. Class A | 13,779 | 536,732 | ||||||
CI Financial Corp. (b) | 31,311 | 670,299 | ||||||
IGM Financial, Inc. | 1,475 | 43,097 | ||||||
Thomson Reuters Corp. | 12,043 | 465,093 | ||||||
|
| |||||||
1,715,221 | ||||||||
|
| |||||||
CHEMICALS — 1.0% | ||||||||
Methanex Corp. | 799 | 48,371 | ||||||
Nutrien, Ltd. (b) | 7,133 | 336,884 | ||||||
|
| |||||||
385,255 | ||||||||
|
| |||||||
CONSTRUCTION & ENGINEERING — 0.3% |
| |||||||
SNC-Lavalin Group, Inc. | 2,569 | 112,723 | ||||||
|
| |||||||
CONTAINERS & PACKAGING — 1.8% |
| |||||||
CCL Industries, Inc. Class B | 14,511 | 732,050 | ||||||
|
| |||||||
DIVERSIFIED FINANCIAL SERVICES — 0.8% |
| |||||||
Element Fleet Management Corp. (b) | 4,119 | 13,259 | ||||||
Onex Corp. | 4,578 | 329,950 | ||||||
|
| |||||||
343,209 | ||||||||
|
| |||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 3.2% |
| |||||||
BCE, Inc. | 21,144 | 909,229 | ||||||
TELUS Corp. | 10,266 | 360,236 | ||||||
|
| |||||||
1,269,465 | ||||||||
|
| |||||||
ELECTRIC UTILITIES — 2.7% | ||||||||
Emera, Inc. (b) | 8,564 | 270,753 | ||||||
Fortis, Inc. | 12,243 | 412,990 | ||||||
Hydro One, Ltd. (c) | 24,715 | 401,038 | ||||||
|
| |||||||
1,084,781 | ||||||||
|
| |||||||
FOOD & STAPLES RETAILING — 7.4% |
| |||||||
Alimentation Couche-Tard, Inc. Class B | 20,757 | 928,490 | ||||||
Empire Co., Ltd. | 4,024 | 80,714 | ||||||
George Weston, Ltd. | 3,713 | 298,710 | ||||||
Jean Coutu Group PJC, Inc. Class A | 12,956 | 246,810 |
Security Description | Shares | Value | ||||||
Loblaw Cos., Ltd. (b) | 8,734 | $ | 440,951 | |||||
Metro, Inc. | 30,441 | 970,429 | ||||||
|
| |||||||
2,966,104 | ||||||||
|
| |||||||
FOOD PRODUCTS — 2.2% | ||||||||
Saputo, Inc. | 27,750 | 890,023 | ||||||
|
| |||||||
HOTELS, RESTAURANTS & LEISURE — 0.2% |
| |||||||
Restaurant Brands International, Inc. | 1,637 | 93,097 | ||||||
|
| |||||||
INSURANCE — 14.6% | ||||||||
Fairfax Financial Holdings, Ltd. | 581 | 294,306 | ||||||
Great-West Lifeco, Inc. | 42,314 | 1,079,143 | ||||||
Industrial Alliance Insurance & Financial Services, Inc. | 10,752 | 442,006 | ||||||
Intact Financial Corp. | 14,504 | 1,089,108 | ||||||
Manulife Financial Corp. | 23,619 | 438,213 | ||||||
Power Corp. of Canada | 13,950 | 318,115 | ||||||
Power Financial Corp. | 35,524 | 888,892 | ||||||
Sun Life Financial, Inc. | 31,434 | 1,290,031 | ||||||
|
| |||||||
5,839,814 | ||||||||
|
| |||||||
INTERNET SOFTWARE & SERVICES — 0.0% (d) |
| |||||||
Shopify, Inc. Class A (a) | 63 | 7,834 | ||||||
|
| |||||||
IT SERVICES — 2.7% | ||||||||
CGI Group, Inc. Class A (a) | 19,010 | 1,095,554 | ||||||
|
| |||||||
MEDIA — 0.7% | ||||||||
Shaw Communications, Inc. Class B | 14,861 | 286,097 | ||||||
|
| |||||||
METALS & MINING — 3.2% | ||||||||
Agnico Eagle Mines, Ltd. | 3,623 | 152,311 | ||||||
Barrick Gold Corp. | 18,895 | 235,225 | ||||||
First Quantum Minerals, Ltd. | 8,662 | 121,540 | ||||||
Franco-Nevada Corp. | 4,029 | 274,694 | ||||||
Goldcorp, Inc. | 8,670 | 119,635 | ||||||
Kinross Gold Corp. (a) | 11,049 | 43,622 | ||||||
Lundin Mining Corp. | 4,627 | 30,326 | ||||||
Teck Resources, Ltd. Class B | 7,872 | 202,593 | ||||||
Turquoise Hill Resources, Ltd. (a) | 13,641 | 41,687 | ||||||
Wheaton Precious Metals Corp. | 2,586 | 52,653 | ||||||
|
| |||||||
1,274,286 | ||||||||
|
| |||||||
MULTI-UTILITIES — 0.2% | ||||||||
Atco, Ltd. Class I | 1,135 | 36,429 | ||||||
Canadian Utilities, Ltd. Class A | 1,629 | 43,453 | ||||||
|
| |||||||
79,882 | ||||||||
|
| |||||||
MULTILINE RETAIL — 2.6% | ||||||||
Canadian Tire Corp., Ltd. Class A | 6,487 | 852,354 | ||||||
Dollarama, Inc. | 1,489 | 180,840 | ||||||
|
| |||||||
1,033,194 | ||||||||
|
| |||||||
OIL, GAS & CONSUMABLE FUELS — 12.8% |
| |||||||
AltaGas, Ltd. (b) | 12,287 | 227,203 | ||||||
ARC Resources, Ltd. (b) | 3,527 | 38,409 | ||||||
Cameco Corp. | 5,667 | 51,472 | ||||||
Canadian Natural Resources, Ltd. | 9,299 | 292,115 | ||||||
Cenovus Energy, Inc. | 14,630 | 124,484 | ||||||
Crescent Point Energy Corp. | 13,700 | 93,087 | ||||||
Enbridge, Inc. | 22,991 | 722,587 |
See accompanying notes to financial statements.
36
Table of Contents
SPDR MSCI CANADA STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Encana Corp. | 8,655 | $ | 95,126 | |||||
Husky Energy, Inc. | 7,922 | 113,307 | ||||||
Imperial Oil, Ltd. | 33,316 | 881,708 | ||||||
Inter Pipeline, Ltd. (b) | 6,506 | 112,836 | ||||||
Keyera Corp. | 17,579 | 456,911 | ||||||
Pembina Pipeline Corp. | 14,073 | 438,809 | ||||||
PrairieSky Royalty, Ltd. (b) | 896 | 19,578 | ||||||
Seven Generations Energy, Ltd. Class A (a) | 1,515 | 18,802 | ||||||
Suncor Energy, Inc. | 24,154 | 833,517 | ||||||
Tourmaline Oil Corp. | 2,737 | 46,386 | ||||||
TransCanada Corp. | 13,711 | 566,626 | ||||||
Vermilion Energy, Inc. (b) | 631 | 20,331 | ||||||
|
| |||||||
5,153,294 | ||||||||
|
| |||||||
PAPER & FOREST PRODUCTS — 1.0% |
| |||||||
West Fraser Timber Co., Ltd. (b) | 6,032 | 400,543 | ||||||
|
| |||||||
PHARMACEUTICALS — 0.3% | ||||||||
Valeant Pharmaceuticals International, Inc. (a) | 7,527 | 119,743 | ||||||
|
| |||||||
REAL ESTATE INVESTMENT TRUSTS (REITS) —1.3% |
| |||||||
H&R Real Estate Investment Trust | 8,540 | 139,303 | ||||||
RioCan Real Estate Investment Trust | 14,999 | 275,025 | ||||||
SmartCentres Real Estate Investment Trust | 4,258 | 96,142 | ||||||
|
| |||||||
510,470 | ||||||||
|
| |||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.4% |
| |||||||
First Capital Realty, Inc. | 11,030 | 174,102 | ||||||
|
| |||||||
ROAD & RAIL — 5.7% | ||||||||
Canadian National Railway Co. | 18,354 | 1,340,479 | ||||||
Canadian Pacific Railway, Ltd. | 5,471 | 964,135 | ||||||
|
| |||||||
2,304,614 | ||||||||
|
| |||||||
SOFTWARE — 2.9% |
| |||||||
Constellation Software, Inc. | 1,533 | 1,039,420 | ||||||
Open Text Corp. | 3,538 | 122,996 | ||||||
|
| |||||||
1,162,416 | ||||||||
|
| |||||||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 0.1% |
| |||||||
BlackBerry, Ltd. (a) | 2,559 | 29,396 | ||||||
|
| |||||||
TEXTILES,APPAREL & LUXURY GOODS — 1.7% |
| |||||||
Gildan Activewear, Inc. | 23,619 | 681,685 | ||||||
|
|
Security Description | Shares | Value | ||||||
TRADING COMPANIES & DISTRIBUTORS — 0.1% |
| |||||||
Finning International, Inc. | 1,483 | $ | 35,739 | |||||
|
| |||||||
WIRELESS TELECOMMUNICATION |
| |||||||
Rogers Communications, Inc. Class B | 7,985 | 356,375 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 40,039,442 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 4.1% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (e) (f) | 16,538 | 16,538 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (e) (g) | 1,622,347 | 1,622,347 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| 1,638,885 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 103.9% | 41,678,327 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER |
| (1,567,665 | ) | |||||
|
| |||||||
NET ASSETS — 100.0% | $ | 40,110,662 | ||||||
|
|
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.0% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(d) | Amount is less than 0.05% of net assets. |
(e) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(f) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(g) | Investment of cash collateral for securities loaned. |
REIT =Real Estate Investment Trust
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Aerospace & Defense | $ | 627,524 | $ | — | $ | — | $ | 627,524 | ||||||||||||
Auto Components | 1,382,195 | — | — | 1,382,195 |
See accompanying notes to financial statements.
37
Table of Contents
SPDR MSCI CANADA STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Banks | $ | 7,892,757 | $— | $— | $ | 7,892,757 | ||||||||||||||
Capital Markets | 1,715,221 | — | — | 1,715,221 | ||||||||||||||||
Chemicals | 385,255 | — | — | 385,255 | ||||||||||||||||
Construction & Engineering | 112,723 | — | — | 112,723 | ||||||||||||||||
Containers & Packaging | 732,050 | — | — | 732,050 | ||||||||||||||||
Diversified Financial Services | 343,209 | — | — | 343,209 | ||||||||||||||||
Diversified Telecommunication Services | 1,269,465 | — | — | 1,269,465 | ||||||||||||||||
Electric Utilities | 1,084,781 | — | — | 1,084,781 | ||||||||||||||||
Food & Staples Retailing | 2,966,104 | — | — | 2,966,104 | ||||||||||||||||
Food Products | 890,023 | — | — | 890,023 | ||||||||||||||||
Hotels, Restaurants & Leisure | 93,097 | — | — | 93,097 | ||||||||||||||||
Insurance | 5,839,814 | — | — | 5,839,814 | ||||||||||||||||
Internet Software & Services | 7,834 | — | — | 7,834 | ||||||||||||||||
IT Services | 1,095,554 | — | — | 1,095,554 | ||||||||||||||||
Media | 286,097 | — | — | 286,097 | ||||||||||||||||
Metals & Mining | 1,274,286 | — | — | 1,274,286 | ||||||||||||||||
Multi-Utilities | 79,882 | — | — | 79,882 | ||||||||||||||||
Multiline Retail | 1,033,194 | — | — | 1,033,194 | ||||||||||||||||
Oil, Gas & Consumable Fuels | 5,153,294 | — | — | 5,153,294 | ||||||||||||||||
Paper & Forest Products | 400,543 | — | — | 400,543 | ||||||||||||||||
Pharmaceuticals | 119,743 | — | — | 119,743 | ||||||||||||||||
Real Estate Investment Trusts (REITs) | 510,470 | — | — | 510,470 | ||||||||||||||||
Real Estate Management & Development | 174,102 | — | — | 174,102 | ||||||||||||||||
Road & Rail | 2,304,614 | — | — | 2,304,614 | ||||||||||||||||
Software | 1,162,416 | — | — | 1,162,416 | ||||||||||||||||
Technology Hardware, Storage & Peripherals | 29,396 | — | — | 29,396 | ||||||||||||||||
Textiles, Apparel & Luxury Goods | 681,685 | — | — | 681,685 | ||||||||||||||||
Trading Companies & Distributors | 35,739 | — | — | 35,739 | ||||||||||||||||
Wireless Telecommunication Services | 356,375 | — | — | 356,375 | ||||||||||||||||
Short-Term Investments | 1,638,885 | — | — | 1,638,885 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 41,678,327 | $— | $— | $ | 41,678,327 | ||||||||||||||
|
|
|
|
|
|
|
|
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 13,104 | $13,104 | $ 504,340 | $ 500,906 | $— | $— | 16,538 | $ 16,538 | $202 | $— | ||||||||||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | — | — | 4,470,806 | 2,848,459 | — | — | 1,622,347 | 1,622,347 | 591 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $13,104 | $4,975,146 | $3,349,365 | $— | $— | $1,638,885 | $793 | $— | ||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
38
Table of Contents
SPDR MSCI CHINAA SHARES IMI ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 98.5% | ||||||||
AEROSPACE & DEFENSE — 0.8% | ||||||||
AECC Aero Science and Technology Co., Ltd. Class A (a) | 400 | $ | 1,238 | |||||
AECC Aero-Engine Control Co., Ltd. Class A | 700 | 1,765 | ||||||
AECC Aviation Power Co., Ltd. Class A | 800 | 3,475 | ||||||
AVIC Aircraft Co., Ltd. Class A | 1,400 | 3,689 | ||||||
AVIC Helicopter Co., Ltd. Class A | 400 | 2,878 | ||||||
Changchun UP Optotech Co., Ltd. Class A | 600 | 1,267 | ||||||
China Avionics Systems Co., Ltd. Class A | 800 | 1,883 | ||||||
China Spacesat Co., Ltd. Class A | 700 | 2,463 | ||||||
|
| |||||||
18,658 | ||||||||
|
| |||||||
AIR FREIGHT & LOGISTICS — 0.4% | ||||||||
Jiangsu Aucksun Co., Ltd. Class A | 4,700 | 6,686 | ||||||
Sinotrans Air Transportation Development Co., Ltd. Class A | 1,100 | 3,236 | ||||||
|
| |||||||
9,922 | ||||||||
|
| |||||||
AIRLINES — 1.1% | ||||||||
Air China, Ltd. Class A | 3,000 | 5,426 | ||||||
China Eastern Airlines Corp., Ltd. Class A | 4,300 | 4,880 | ||||||
China Southern Airlines Co., Ltd. Class A | 4,700 | 7,552 | ||||||
Hainan Airlines Holding Co., Ltd. Class A (b) | 11,900 | 5,986 | ||||||
Spring Airlines Co., Ltd. Class A | 700 | 3,378 | ||||||
|
| |||||||
27,222 | ||||||||
|
| |||||||
AUTO COMPONENTS — 1.9% | ||||||||
Anhui Zhongding Sealing Parts Co., Ltd. Class A | 1,500 | 4,029 | ||||||
China Shipbuilding Industry Group Power Co., Ltd. Class A | 1,000 | 3,857 | ||||||
Fangda Special Steel Technology Co., Ltd. Class A | 1,200 | 3,137 | ||||||
Fuyao Glass Industry Group Co., Ltd. Class A | 2,500 | 9,532 | ||||||
Greatoo Intelligent Equipment, Inc. | 5,100 | 2,189 | ||||||
Huayu Automotive Systems Co., Ltd. Class A | 1,700 | 6,396 | ||||||
Sailun Jinyu Group Co., Ltd. Class A | 5,940 | 2,823 | ||||||
Wanxiang Qianchao Co., Ltd. Class A | 1,560 | 2,078 | ||||||
Weifu High-Technology Group Co., Ltd. Class A | 1,000 | 3,574 | ||||||
Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co., Ltd. Class A | 800 | 2,364 | ||||||
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. Class A | 800 | 2,257 | ||||||
Zhejiang Wanfeng Auto Wheel Co., Ltd. Class A (b) | 1,320 | 2,575 | ||||||
|
| |||||||
44,811 | ||||||||
|
| |||||||
AUTOMOBILES — 1.5% | ||||||||
Anhui Jianghuai Automobile Group Corp., Ltd Class A | 1,400 | 1,700 | ||||||
Beiqi Foton Motor Co., Ltd. Class A | 10,600 | 4,229 | ||||||
BYD Co., Ltd. Class A | 700 | 6,229 |
Security Description | Shares | Value | ||||||
Chongqing Changan Automobile Co., Ltd. Class A | 2,200 | $ | 3,902 | |||||
FAW CAR Co., Ltd. Class A (a) | 1,500 | 2,418 | ||||||
Haima Automobile Group Co., Ltd. Class A (a) | 4,100 | 2,555 | ||||||
Jiangsu Xinri E-Vehicle Co., Ltd. Class A (a) | 1,200 | 2,672 | ||||||
SAIC Motor Corp., Ltd. Class A | 2,400 | 12,565 | ||||||
|
| |||||||
36,270 | ||||||||
|
| |||||||
BANKS — 11.6% | ||||||||
Agricultural Bank of China, Ltd. Class A | 38,400 | 24,169 | ||||||
Bank of Beijing Co., Ltd. Class A | 2,736 | 3,014 | ||||||
Bank of China, Ltd. Class A | 37,100 | 23,528 | ||||||
Bank of Communications Co., Ltd. Class A | 12,800 | 12,735 | ||||||
Bank of Nanjing Co., Ltd. Class A | 5,544 | 7,252 | ||||||
Bank of Ningbo Co., Ltd. Class A | 3,900 | 11,994 | ||||||
China CITIC Bank Corp., Ltd. Class A | 3,200 | 3,301 | ||||||
China Everbright Bank Co., Ltd. Class A | 20,300 | 13,229 | ||||||
China Merchants Bank Co., Ltd. Class A | 10,300 | 47,983 | ||||||
China Minsheng Banking Corp., Ltd. Class A | 14,500 | 18,621 | ||||||
Huaxia Bank Co., Ltd. Class A | 7,320 | 10,424 | ||||||
Industrial & Commercial Bank of China, Ltd. Class A | 15,600 | 15,100 | ||||||
Industrial Bank Co., Ltd. Class A | 14,400 | 38,702 | ||||||
Ping An Bank Co., Ltd. Class A | 8,520 | 14,964 | ||||||
Shanghai Pudong Development Bank Co., Ltd. Class A | 16,302 | 30,108 | ||||||
|
| |||||||
275,124 | ||||||||
|
| |||||||
BEVERAGES — 5.5% | ||||||||
Anhui Gujing Distillery Co., Ltd. Class A | 400 | 3,776 | ||||||
Beijing Yanjing Brewery Co., Ltd. Class A | 3,200 | 3,799 | ||||||
Chongqing Brewery Co., Ltd. Class A | 2,200 | 7,417 | ||||||
Hainan Yedao Co., Ltd. Class A (a) | 1,400 | 1,647 | ||||||
Jiangsu Yanghe Brewery Joint-Stock Co., Ltd. Class A | 600 | 10,285 | ||||||
Kweichow Moutai Co., Ltd. Class A | 600 | 65,715 | ||||||
Luzhou Laojiao Co., Ltd. Class A | 1,400 | 12,615 | ||||||
Qinghai Huzhu Barley Wine Co., Ltd. Class A | 1,100 | 2,227 | ||||||
Shanxi Xinghuacun Fen Wine Factory Co., Ltd. Class A | 600 | 5,228 | ||||||
Tsingtao Brewery Co., Ltd. Class A | 700 | 4,449 | ||||||
Wuliangye Yibin Co., Ltd. Class A | 1,100 | 11,801 | ||||||
Zhejiang Guyuelongshan Shaoxing Wine Co., Ltd. Class A | 2,100 | 2,770 | ||||||
|
| |||||||
131,729 | ||||||||
|
| |||||||
BIOTECHNOLOGY — 0.4% | ||||||||
Beijing SL Pharmaceutical Co., Ltd. Class A | 600 | 3,319 | ||||||
Da An Gene Co., Ltd. of Sun Yat-Sen University Class A | 660 | 1,658 | ||||||
Hualan Biological Engineering, Inc. Class A | 800 | 3,745 | ||||||
|
| |||||||
8,722 | ||||||||
|
|
See accompanying notes to financial statements.
39
Table of Contents
SPDR MSCI CHINA A SHARES IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
BUILDING PRODUCTS — 0.3% | ||||||||
Beijing New Building Materials PLC Class A | 1,100 | $ | 4,366 | |||||
Zhejiang Dun’An Artificial Environment Co., Ltd. Class A | 1,400 | 1,593 | ||||||
Zhejiang Goldensea Environment Technology Co., Ltd. Class A | 1,000 | 2,258 | ||||||
|
| |||||||
8,217 | ||||||||
|
| |||||||
CAPITAL MARKETS — 4.4% | ||||||||
China Merchants Securities Co., Ltd. Class A | 3,700 | 10,185 | ||||||
CITIC Securities Co., Ltd. Class A | 3,600 | 10,477 | ||||||
Dongxing Securities Co., Ltd. Class A | 1,800 | 4,065 | ||||||
Everbright Securities Co., Ltd. Class A | 2,100 | 4,092 | ||||||
First Capital Securities Co., Ltd. Class A | 2,800 | 3,596 | ||||||
GF Securities Co., Ltd. Class A | 3,100 | 8,071 | ||||||
Guosen Securities Co., Ltd. Class A | 2,300 | 3,948 | ||||||
Haitong Securities Co., Ltd. Class A | 3,600 | 6,523 | ||||||
Huatai Securities Co., Ltd. Class A | 3,000 | 8,168 | ||||||
Industrial Securities Co., Ltd. Class A | 5,590 | 5,828 | ||||||
Northeast Securities Co., Ltd. Class A | 3,600 | 4,486 | ||||||
Orient Securities Co., Ltd. Class A | 2,200 | 4,350 | ||||||
Pacific Securities Co., Ltd. Class A | 11,505 | 5,266 | ||||||
Sealand Securities Co., Ltd. Class A | 4,950 | 3,399 | ||||||
Shanxi Securities Co., Ltd. Class A | 2,700 | 3,339 | ||||||
Shenwan Hongyuan Group Co., Ltd. Class A | 8,910 | 7,010 | ||||||
Sinolink Securities Co., Ltd. Class A | 2,600 | 3,405 | ||||||
Southwest Securities Co., Ltd. Class A | 5,500 | 3,803 | ||||||
Western Securities Co., Ltd. Class A | 2,268 | 3,493 | ||||||
|
| |||||||
103,504 | ||||||||
|
| |||||||
CHEMICALS — 4.6% | ||||||||
Anhui Sierte Fertilizer Industry, Ltd. Co. Class A | 1,300 | 1,665 | ||||||
Anhui Wanwei Updated High-Tech Material Industry Co., Ltd. Class A (a) | 4,100 | 2,131 | ||||||
Befar Group Co., Ltd. Class A | 5,520 | 7,966 | ||||||
China Hainan Rubber Industry Group Co., Ltd. Class A (a) | 3,200 | 3,031 | ||||||
Do-Fluoride Chemicals Co., Ltd. Class A | 400 | 1,099 | ||||||
Gpro Titanium Industry Co., Ltd. Class A | 2,800 | 1,927 | ||||||
Hubei Biocause Pharmaceutical Co., Ltd. Class A | 2,700 | 3,352 | ||||||
Hubei Kaile Science & Technology Co., Ltd. Class A (a) | 1,400 | 7,205 | ||||||
Inner Mongolia Junzheng Energy & Chemical Industry Group Co., Ltd. Class A (b) | 4,400 | 3,378 | ||||||
Jiangsu Huifeng Bio Agriculture Co., Ltd. Class A | 3,040 | 2,073 | ||||||
Jiangsu Yangnong Chemical Co., Ltd. Class A | 700 | 5,198 | ||||||
Kangde Xin Composite Material Group Co., Ltd. Class A (b) | 1,599 | 4,748 | ||||||
Kingfa Sci & Tech Co., Ltd. Class A | 3,000 | 2,856 | ||||||
Luxi Chemical Group Co., Ltd. Class A (a) | 2,200 | 6,126 | ||||||
Nanjing Redsun Co., Ltd. Class A | 1,500 | 5,204 |
Security Description | Shares | Value | ||||||
Qinghai Salt Lake Industry Co., Ltd. Class A | 1,650 | $ | 3,312 | |||||
Shanghai Chlor-Alkali Chemical Co., Ltd. Class A (a) | 1,500 | 2,513 | ||||||
Shanghai Pret Composites Co., Ltd. Class A | 900 | 3,337 | ||||||
Shanghai Yahong Moulding Co., Ltd. Class A | 200 | 710 | ||||||
Shanxi Yongdong Chemistry Industry Co., Ltd. Class A | 1,650 | 4,844 | ||||||
Shenzhen Noposion Agrochemicals Co., Ltd. Class A (a) | 1,000 | 1,237 | ||||||
Sinopec Shanghai Petrochemical Co., Ltd. Class A | 3,500 | 3,349 | ||||||
Tianqi Lithium Corp. Class A | 690 | 6,367 | ||||||
Wanhua Chemical Group Co., Ltd. Class A (b) | 1,680 | 10,110 | ||||||
Xinjiang Xuefeng Sci-Tech Group Co., Ltd. Class A (a) | 1,200 | 954 | ||||||
Yueyang Xingchang Petrochemical Class A | 772 | 1,496 | ||||||
Zhejiang Huafeng Spandex Co., Ltd. Class A (a) | 3,200 | 2,457 | ||||||
Zhejiang Huge Leaf Co., Ltd. Class A (a) (b) | 4,200 | 4,027 | ||||||
Zhejiang Jiaao Enprotech Stock Co., Ltd. Class A (b) | 400 | 2,222 | ||||||
Zhejiang Longsheng Group Co., Ltd. Class A | 2,500 | 4,450 | ||||||
|
| |||||||
109,344 | ||||||||
|
| |||||||
COMMERCIAL SERVICES & SUPPLIES — 1.0% |
| |||||||
Eternal Asia Supply Chain Management, Ltd. Class A | 1,600 | 1,841 | ||||||
Jiangsu Flowers King Horticulture Co., Ltd. Class A | 500 | 1,117 | ||||||
Jihua Group Corp., Ltd. Class A | 2,300 | 2,014 | ||||||
Shaanxi Jinye Science Technology & Education Group Co., Ltd. Class A (b) | 2,000 | 2,366 | ||||||
Shanghai Environment Group Co., Ltd. Class A (a) | 391 | 1,156 | ||||||
Shanghai Jielong Industry Group Corp., Ltd. Class A (a) | 1,200 | 933 | ||||||
Shenzhen Comix Group Co., Ltd. Class A (b) | 1,400 | 3,284 | ||||||
Shenzhen ESUN Display Co., Ltd. Class A | 200 | 1,155 | ||||||
Tungkong, Inc. Class A | 600 | 1,473 | ||||||
Tus-Sound Environmental Resources Co., Ltd. Class A | 700 | 3,116 | ||||||
UE Furniture Co., Ltd. Class A | 1,200 | 2,161 | ||||||
Yunnan Yuntou Ecology and Environment Technology Co., Ltd. Class A (a) | 1,300 | 2,147 | ||||||
|
| |||||||
22,763 | ||||||||
|
| |||||||
COMMUNICATIONS EQUIPMENT — 0.9% |
| |||||||
Addsino Co., Ltd. Class A | 1,000 | 1,689 | ||||||
Fiberhome Telecommunication Technologies Co., Ltd. Class A | 1,100 | 4,843 |
See accompanying notes to financial statements.
40
Table of Contents
SPDR MSCI CHINA A SHARES IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Guangzhou Haige Communications Group, Inc. Co. Class A | 1,600 | $ | 2,607 | |||||
Shenzhen Coship Electronics Co., Ltd. Class A (a) | 2,200 | 1,619 | ||||||
Shenzhen Keybridge Communications Co., Ltd. Class A (a) | 1,200 | 1,995 | ||||||
ZTE Corp. Class A (a) | 2,000 | 9,485 | ||||||
|
| |||||||
22,238 | ||||||||
|
| |||||||
CONSTRUCTION & ENGINEERING — 3.6% |
| |||||||
Changjiang & Jinggong Steel Building Group Co., Ltd. Class A | 2,500 | 1,411 | ||||||
Changshu Fengfan Power Equipment Co., Ltd. Class A | 3,300 | 2,754 | ||||||
China Gezhouba Group Co., Ltd. Class A | 4,400 | 6,056 | ||||||
China National Chemical Engineering Co., Ltd. Class A | 4,200 | 4,860 | ||||||
China Railway Construction Corp., Ltd. Class A | 1,500 | 2,322 | ||||||
China Railway Group, Ltd. Class A | 4,900 | 5,748 | ||||||
China State Construction Engineering Corp., Ltd. Class A | 13,600 | 18,957 | ||||||
East China Engineering Science and Technology Co., Ltd. Class A | 1,000 | 1,424 | ||||||
Jiangsu Zhongtai Bridge Steel Structure Co., Ltd. Class A (a) | 1,300 | 2,574 | ||||||
Metallurgical Corp. of China, Ltd. Class A | 11,600 | 6,951 | ||||||
Norinco International Cooperation, Ltd. Class A | 1,100 | 3,095 | ||||||
Northcom Group Co., Ltd. Class A (a) | 1,190 | 5,163 | ||||||
Power Construction Corp. of China, Ltd. Class A | 5,300 | 5,652 | ||||||
Shanghai Chengdi Construction Corp., Ltd. Class A (b) | 600 | 2,548 | ||||||
Shanghai Construction Group Co., Ltd. Class A | 5,141 | 3,064 | ||||||
Shanghai Tunnel Engineering Co., Ltd. Class A | 1,900 | 2,186 | ||||||
Shenzhen Tagen Group Co., Ltd. Class A | 1,400 | 2,154 | ||||||
Suzhou Gold Mantis Construction Decoration Co., Ltd. Class A | 1,950 | 3,995 | ||||||
Wuhan Xianglong Power Industry Co., Ltd. Class A (a) | 2,600 | 2,426 | ||||||
Xinjiang Beixin Road & Bridge Group Co., Ltd. Class A | 900 | 1,492 | ||||||
|
| |||||||
84,832 | ||||||||
|
| |||||||
CONSTRUCTION MATERIALS — 1.0% | ||||||||
Anhui Conch Cement Co., Ltd. Class A | 1,700 | 8,671 | ||||||
Anhui Xinli Finance Co., Ltd. Class A (b) | 1,400 | 2,473 | ||||||
Arcplus Group PLC Class A (a) | 700 | 1,708 | ||||||
Beijing Oriental Yuhong Waterproof Technology Co., Ltd. Class A | 800 | 5,282 | ||||||
Shandong Jinjing Science & Technology Co., Ltd. Class A (a) | 4,700 | 3,003 | ||||||
Shandong Longquan Pipeline Engineering Co., Ltd. Class A | 1,000 | 939 |
Security Description | Shares | Value | ||||||
Xiamen Wanli Stone Stock Co., Ltd. Class A | 1,200 | $ | 2,172 | |||||
|
| |||||||
24,248 | ||||||||
|
| |||||||
CONTAINERS & PACKAGING — 0.5% | ||||||||
Jiangsu Shuangxing Color Plastic New Materials Co., Ltd. Class A | 2,340 | 2,484 | ||||||
Org Packaging Co., Ltd. Class A (a) | 2,880 | 2,632 | ||||||
Shanghai Zi Jiang Enterprise Group Co., Ltd. Class A | 3,400 | 2,507 | ||||||
Shenzhen Beauty Star Co., Ltd. Class A | 2,700 | 3,219 | ||||||
|
| |||||||
10,842 | ||||||||
|
| |||||||
DISTRIBUTORS — 0.0% (c) | ||||||||
Shanghai Shenhua Holdings Co., Ltd. Class A (a) | 2,900 | 1,060 | ||||||
|
| |||||||
DIVERSIFIED CONSUMER SERVICES — 0.3% |
| |||||||
But one Information Corp. Xi an Class A (a) | 1,300 | 6,697 | ||||||
Zhejiang Yasha Decoration Co., Ltd. Class A | 1,200 | 1,276 | ||||||
|
| |||||||
7,973 | ||||||||
|
| |||||||
DIVERSIFIED FINANCIAL SERVICES — 0.1% |
| |||||||
Avic Capital Co., Ltd. Class A | 4,200 | 3,571 | ||||||
|
| |||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.3% | ||||||||
263 Network Communications Co., Ltd. Class A (a) | 1,700 | 1,932 | ||||||
Dr Peng Telecom & Media Group Co., Ltd. Class A | 1,000 | 2,386 | ||||||
GuangDong Super Telecom Co., Ltd. Class A | 300 | 1,856 | ||||||
|
| |||||||
6,174 | ||||||||
|
| |||||||
ELECTRIC UTILITIES — 0.1% | ||||||||
Xinjiang Tianfu Energy Co., Ltd. Class A | 3,200 | 2,965 | ||||||
|
| |||||||
ELECTRICAL EQUIPMENT — 2.9% | ||||||||
Anhui Xinlong Electrical Co., Ltd. Class A | 1,100 | 1,490 | ||||||
Beijing Sifang Automation Co., Ltd. Class A | 1,200 | 1,295 | ||||||
China XD Electric Co., Ltd. Class A | 3,700 | 2,393 | ||||||
Dongfang Electronics Co., Ltd. Class A (a) | 5,600 | 3,863 | ||||||
Fangda Carbon New Material Co., Ltd. Class A | 1,100 | 4,621 | ||||||
Guoxuan High-Tech Co., Ltd. Class A | 1,200 | 4,158 | ||||||
Henan Tong-DA Cable Co., Ltd. Class A (b) | 1,300 | 1,388 | ||||||
Jiangsu SINOJIT Wind Energy Technology Co., Ltd. Class A (a) | 6,300 | 3,224 | ||||||
Jiangsu Zongyi Co., Ltd. Class A (a) | 1,200 | 1,318 | ||||||
Luxshare Precision Industry Co., Ltd. Class A | 1,800 | 6,966 | ||||||
Nanjing Kangni Mechanical & Electrical Co., Ltd. Class A | 1,750 | 3,065 |
See accompanying notes to financial statements.
41
Table of Contents
SPDR MSCI CHINA A SHARES IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Shanghai Welltech Automation Co., Ltd. Class A | 900 | $ | 2,427 | |||||
Shenzhen Center Power Tech Co., Ltd. Class A | 600 | 1,367 | ||||||
Shenzhen Hifuture Electric Co., Ltd. Class A (a) (b) | 2,500 | 5,467 | ||||||
Shenzhen Invt Electric Co., Ltd. Class A | 1,700 | 2,262 | ||||||
Shenzhen Moso Power Supply Technology Co., Ltd. Class A (a) | 1,600 | 2,403 | ||||||
Shenzhen Woer Heat-Shrinkable Material Co., Ltd. Class A | 1,600 | 1,381 | ||||||
Sieyuan Electric Co., Ltd. Class A | 2,520 | 6,505 | ||||||
TBEA Co., Ltd. Class A | 2,313 | 3,239 | ||||||
Tongling Jingda Special Magnet Wire Co., Ltd. Class A | 6,000 | 4,072 | ||||||
Xinjiang Goldwind Science & Technology Co., Ltd. Class A | 2,210 | 6,242 | ||||||
|
| |||||||
69,146 | ||||||||
|
| |||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.9% |
| |||||||
Accelink Technologies Co., Ltd. Class A | 1,200 | 5,178 | ||||||
Beijing SDL Technology Co., Ltd. Class A | 700 | 1,218 | ||||||
Dongxu Optoelectronic Technology Co., Ltd. Class A | 2,100 | 2,577 | ||||||
Fujian Torch Electron Technology Co., Ltd. Class A | 1,500 | 5,970 | ||||||
GoerTek, Inc. Class A | 2,000 | 4,342 | ||||||
Hangzhou Hikvision Digital Technology Co., Ltd. Class A | 4,950 | 32,650 | ||||||
Holitech Technology Co., Ltd. Class A | 3,000 | 4,554 | ||||||
Ningbo Yunsheng Group Co., Ltd. Class A | 900 | 2,353 | ||||||
O-film Tech Co., Ltd. Class A | 1,700 | 5,431 | ||||||
Shen Zhen Mindata Holding Co., Ltd. Class A (a) | 1,400 | 2,470 | ||||||
Shenzhen Fastprint Circuit Tech Co., Ltd. Class A | 2,700 | 2,257 | ||||||
Shenzhen Infinova, Ltd. Class A (a) | 2,210 | 1,651 | ||||||
Shenzhen Mason Technologies Co., Ltd. Class A | 2,400 | 2,575 | ||||||
Shenzhen Sunlord Electronics Co., Ltd. Class A | 1,900 | 4,901 | ||||||
TDG Holdings Co., Ltd. Class A (a) | 1,700 | 2,308 | ||||||
Unigroup Guoxin Co., Ltd. Class A | 400 | 3,236 | ||||||
WUS Printed Circuit Kunshan Co., Ltd. Class A | 3,400 | 2,307 | ||||||
Zhejiang Dahua Technology Co., Ltd. Class A | 1,750 | 7,084 | ||||||
|
| |||||||
93,062 | ||||||||
|
| |||||||
ENERGY EQUIPMENT & SERVICES — 0.6% |
| |||||||
Beijing New Oriental Star Petrochemical Engineering Co., Ltd. Class A | 200 | 792 | ||||||
Cangzhou Mingzhu Plastic Co., Ltd. Class A | 3,230 | 4,851 | ||||||
Offshore Oil Engineering Co., Ltd. Class A | 3,100 | 3,040 | ||||||
Yantai Jereh Oilfield Services Group Co., Ltd. Class A | 900 | 2,130 |
Security Description | Shares | Value | ||||||
Zhejiang Kingland Pipeline & Technologies Co., Ltd. Class A | 2,300 | $ | 3,199 | |||||
|
| |||||||
14,012 | ||||||||
|
| |||||||
FOOD & STAPLES RETAILING — 0.4% | ||||||||
Shenzhen Agricultural Products Co., Ltd. Class A | 1,300 | 1,490 | ||||||
Yonghui Superstores Co., Ltd. Class A | 5,600 | 8,865 | ||||||
|
| |||||||
10,355 | ||||||||
|
| |||||||
FOOD PRODUCTS — 3.2% | ||||||||
Baotou Huazi Industry Co., Ltd. Class A | 1,500 | 1,822 | ||||||
Beijing Dabeinong Technology Group Co., Ltd. Class A | 3,450 | 3,159 | ||||||
Bright Dairy & Food Co., Ltd. Class A | 1,100 | 2,224 | ||||||
COFCO Tunhe Sugar Co., Ltd. Class A | 1,300 | 1,595 | ||||||
Foshan Haitian Flavouring & Food Co., Ltd. Class A | 1,000 | 9,118 | ||||||
Gansu Yasheng Industrial Group Co., Ltd. Class A | 2,800 | 1,664 | ||||||
Henan Shuanghui Investment & Development Co., Ltd. Class A | 2,600 | 10,529 | ||||||
Hunan Dakang International Food & Agriculture Co., Ltd. Class A (a) | 6,080 | 2,416 | ||||||
Inner Mongolia Yili Industrial Group Co., Ltd. Class A | 3,800 | 16,899 | ||||||
Lotus Health Group Co. Class A (a) | 3,000 | 1,140 | ||||||
MeiHua Holdings Group Co., Ltd. Class A | 2,800 | 2,296 | ||||||
Muyuan Foodstuff Co., Ltd. Class A | 500 | 3,614 | ||||||
Qiaqia Food Co., Ltd. Class A | 1,500 | 3,557 | ||||||
Shandong Delisi Food Co., Ltd. Class A (a) | 2,800 | 3,062 | ||||||
Shanghai Maling Aquarius Co., Ltd. Class A | 1,400 | 1,604 | ||||||
Tongwei Co., Ltd. Class A | 2,000 | 3,312 | ||||||
Xinjiang Guannong Fruit & Antler Group Co., Ltd. Class A | 1,800 | 2,023 | ||||||
Yuan Longping High-tech Agriculture Co., Ltd. Class A | 1,400 | 5,730 | ||||||
|
| |||||||
75,764 | ||||||||
|
| |||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 0.1% |
| |||||||
Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Class A | 600 | 2,268 | ||||||
|
| |||||||
HEALTH CARE PROVIDERS & SERVICES — 0.8% |
| |||||||
Huadong Medicine Co., Ltd. Class A | 600 | 6,037 | ||||||
Meinian Onehealth Healthcare Holdings Co., Ltd. Class A | 1,400 | 5,665 | ||||||
Shanghai Pharmaceuticals Holding Co., Ltd. Class A | 1,200 | 4,629 | ||||||
Zhejiang Huatong Pharmaceutical Co., Ltd. Class A | 1,500 | 2,353 | ||||||
|
| |||||||
18,684 | ||||||||
|
|
See accompanying notes to financial statements.
42
Table of Contents
SPDR MSCI CHINA A SHARES IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
HOTELS, RESTAURANTS & LEISURE — 0.7% |
| |||||||
China International Travel Service Corp., Ltd. Class A | 1,200 | $ | 10,244 | |||||
Shenzhen Overseas Chinese Town Co., Ltd. Class A | 4,200 | 5,574 | ||||||
|
| |||||||
15,818 | ||||||||
|
| |||||||
HOUSEHOLD DURABLES — 2.6% | ||||||||
A-Zenith Furniture Co., Ltd. Class A | 1,300 | 2,304 | ||||||
Chahua Modern Housewares Co., Ltd. Class A | 1,200 | 2,274 | ||||||
Guangdong Homa Appliances Co., Ltd. Class A | 560 | 2,314 | ||||||
Guangzhou Holike Creative Home Co., Ltd. Class A | 600 | 2,686 | ||||||
Hangzhou Robam Appliances Co., Ltd. Class A | 800 | 4,706 | ||||||
Hisense Electric Co., Ltd. Class A | 1,600 | 3,929 | ||||||
Leo Group Co., Ltd. Class A | 3,163 | 1,428 | ||||||
Markor International Home Furnishings Co., Ltd. Class A | 2,530 | 2,151 | ||||||
Midea Group Co., Ltd. Class A | 3,600 | 31,642 | ||||||
NavInfo Co., Ltd. Class A | 900 | 3,546 | ||||||
Suofeiya Home Collection Co., Ltd. Class A | 900 | 4,832 | ||||||
|
| |||||||
61,812 | ||||||||
|
| |||||||
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 2.2% | ||||||||
An Hui Wenergy Co., Ltd. Class A | 2,210 | 1,700 | ||||||
China National Nuclear Power Co., Ltd. Class A | 7,000 | 7,454 | ||||||
China Yangtze Power Co., Ltd. Class A | 3,900 | 9,980 | ||||||
Datang Huayin Electric Power Co., Ltd. Class A (a) | 2,100 | 1,128 | ||||||
Guangdong Baolihua New Energy Stock Co., Ltd. Class A | 1,800 | 2,360 | ||||||
Huadian Power International Corp., Ltd. Class A | 4,300 | 2,590 | ||||||
Huaneng Power International, Inc. Class A | 2,900 | 3,144 | ||||||
Hubei Energy Group Co., Ltd. Class A | 3,200 | 2,207 | ||||||
Inner Mongolia MengDian HuaNeng Thermal Power Corp., Ltd. Class A | 5,600 | 2,412 | ||||||
SDIC Power Holdings Co., Ltd. Class A | 4,000 | 4,489 | ||||||
Shanxi Zhangze Electric Power Co., Ltd. Class A (a) | 4,200 | 1,822 | ||||||
Shenergy Co., Ltd. Class A | 3,900 | 3,571 | ||||||
Shenzhen Energy Group Co., Ltd. Class A | 2,700 | 2,489 | ||||||
Sichuan Chuantou Energy Co., Ltd. Class A | 3,800 | 5,400 | ||||||
Zhongmin Energy Co., Ltd. Class A (a) | 4,400 | 2,748 | ||||||
|
| |||||||
53,494 | ||||||||
|
| |||||||
INDUSTRIAL CONGLOMERATES — 0.1% | ||||||||
China Baoan Group Co., Ltd. Class A | 2,025 | 1,950 | ||||||
|
| |||||||
INSURANCE — 3.5% | ||||||||
China Life Insurance Co., Ltd. Class A | 600 | 2,454 |
Security Description | Shares | Value | ||||||
China Pacific Insurance Group Co., Ltd. Class A | 3,300 | $ | 18,441 | |||||
New China Life Insurance Co., Ltd. Class A | 700 | 5,224 | ||||||
Ping An Insurance Group Co. of China, Ltd. Class A | 5,200 | 54,870 | ||||||
Xishui Strong Year Co., Ltd. Inner Mongolia Class A | 800 | 2,501 | ||||||
|
| |||||||
83,490 | ||||||||
|
| |||||||
INTERNET SOFTWARE & SERVICES — 0.3% |
| |||||||
Focus Technology Co., Ltd. Class A | 600 | 1,989 | ||||||
Kee Ever Bright Decorative Technology Co., Ltd. Class A (a) (b) | 640 | 2,820 | ||||||
People.cn Co., Ltd. Class A | 900 | 1,582 | ||||||
|
| |||||||
6,391 | ||||||||
|
| |||||||
IT SERVICES — 0.4% | ||||||||
DHC Software Co., Ltd. Class A | 2,400 | 3,090 | ||||||
Fujian Rongji Software Co., Ltd. Class A | 2,300 | 3,429 | ||||||
Shanghai AtHub Co., Ltd. Class A | 300 | 1,889 | ||||||
|
| |||||||
8,408 | ||||||||
|
| |||||||
LEISURE EQUIPMENT & PRODUCTS — 0.2% |
| |||||||
Alpha Group Class A | 900 | 1,752 | ||||||
Comefly Outdoor Co., Ltd. Class A | 400 | 1,904 | ||||||
|
| |||||||
3,656 | ||||||||
|
| |||||||
LIFE SCIENCES TOOLS & SERVICES — 0.1% |
| |||||||
Shanghai Runda Medical Technology Co., Ltd. Class A | 1,080 | 2,722 | ||||||
|
| |||||||
MACHINERY — 4.8% | ||||||||
Anhui Ankai Automobile Co., Ltd. Class A (a) | 2,500 | 2,591 | ||||||
Anhui Heli Co., Ltd. Class A | 2,280 | 3,606 | ||||||
CRRC Corp., Ltd. Class A | 11,800 | 18,999 | ||||||
Dongguan Chitwing Technology Co., Ltd. Class A (a) | 1,300 | 2,335 | ||||||
Eurocrane China Co., Ltd. Class A | 600 | 1,435 | ||||||
Fujian Longma Environmental Sanitation Equipment Co., Ltd. Class A | 700 | 2,659 | ||||||
Fujian Longxi Bearing Group Co., Ltd. Class A | 2,500 | 3,413 | ||||||
Geron Co., Ltd. Class A | 100 | 337 | ||||||
Han’s Laser Technology Industry Group Co., Ltd. Class A | 900 | 7,567 | ||||||
IFE Elevators Co., Ltd. Class A (a) | 1,700 | 2,397 | ||||||
Jiangsu Hengli Hydraulic Co., Ltd. Class A | 1,200 | 5,767 | ||||||
Jiangsu Nonghua Intelligent Agriculture Technology Co., Ltd. Class A (a) | 1,900 | 1,048 | ||||||
Linzhou Heavy Machinery Group Co., Ltd. Class A (a) | 2,210 | 1,507 | ||||||
Mesnac Co., Ltd. Class A (a) | 1,300 | 1,529 | ||||||
Nancal Energy-Saving Technology Co., Ltd. Class A | 600 | 2,125 | ||||||
Nanxing Furniture Machinery & Equipment Co., Ltd. Class A | 300 | 1,638 |
See accompanying notes to financial statements.
43
Table of Contents
SPDR MSCI CHINA A SHARES IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
North Navigation Control Technology Co., Ltd. Class A | 1,200 | $ | 2,098 | |||||
Sanlux Co., Ltd. Class A | 2,000 | 2,489 | ||||||
Sany Heavy Industry Co., Ltd. Class A | 3,900 | 4,891 | ||||||
Shanghai Mechanical and Electrical Industry Co., Ltd. Class A | 800 | 2,696 | ||||||
Shanghai Xinpeng Industrial Co., Ltd. Class A | 2,400 | 2,445 | ||||||
Shantui Construction Machinery Co., Ltd. Class A (a) | 3,200 | 2,177 | ||||||
Shenzhen Silver Basis Technology Co., Ltd. Class A | 1,800 | 2,603 | ||||||
Sunward Intelligent Equipment Co., Ltd. Class A | 2,600 | 2,888 | ||||||
Suzhou Dongshan Precision Manufacturing Co., Ltd. Class A (b) | 1,000 | 3,784 | ||||||
Suzhou Thvow Technology Co., Ltd. Class A (a) | 2,600 | 3,240 | ||||||
Taihai Manoir Nuclear Equipment Co., Ltd. Class A (b) | 900 | 3,881 | ||||||
Taiyuan Heavy Industry Co., Ltd. Class A (a) | 4,600 | 2,193 | ||||||
Tian Di Science & Technology Co., Ltd. Class A | 3,000 | 2,003 | ||||||
Weihai Guangtai Airport Equipment Co., Ltd. Class A | 700 | 1,351 | ||||||
XCMG Construction Machinery Co., Ltd. Class A | 4,400 | 2,741 | ||||||
Zhejiang Sanhua Intelligent Controls Co., Ltd. Class A | 1,900 | 5,315 | ||||||
Zhengzhou Yutong Bus Co., Ltd. Class A | 1,500 | 5,371 | ||||||
Zoomlion Heavy Industry Science and Technology Co., Ltd. Class A | 4,700 | 3,145 | ||||||
|
| |||||||
114,264 | ||||||||
|
| |||||||
MARINE — 0.2% | ||||||||
COSCO SHIPPING Holdings Co., Ltd. Class A (a) | 3,800 | 3,575 | ||||||
|
| |||||||
MEDIA — 1.5% | ||||||||
Beijing Gehua CATV Network Co., Ltd. Class A | 1,000 | 2,012 | ||||||
China Media Group Class A (b) | 1,700 | 2,090 | ||||||
China South Publishing & Media Group Co., Ltd. Class A | 1,300 | 2,661 | ||||||
China Television Media, Ltd. Class A | 700 | 1,719 | ||||||
Chinese Universe Publishing and Media Co., Ltd. Class A | 1,000 | 2,422 | ||||||
CITIC Guoan Information Industry Co., Ltd. Class A | 4,000 | 4,476 | ||||||
Contemporary Eastern Investment Co., Ltd. Class A (a) | 2,600 | 6,447 | ||||||
Guangdong Advertising Group Co., Ltd. Class A | 1,859 | 1,380 | ||||||
Jiangsu Phoenix Publishing & Media Corp., Ltd. Class A | 1,500 | 1,757 | ||||||
Jishi Media Co., Ltd. Class A | 3,500 | 1,552 | ||||||
Shanghai Oriental Pearl Group Co., Ltd. Class A | 1,500 | 3,876 |
Security Description | Shares | Value | ||||||
Shenzhen Topway Video Communication Co., Ltd. Class A | 1,680 | $ | 2,411 | |||||
Wanda Film Holding Co., Ltd. Class A (b) | 200 | 1,930 | ||||||
|
| |||||||
34,733 | ||||||||
|
| |||||||
METALS & MINING — 4.8% | ||||||||
Advanced Technology & Materials Co., Ltd. Class A (a) | 2,100 | 2,663 | ||||||
Anyang Iron & Steel, Inc. Class A (a) | 8,100 | 5,137 | ||||||
Baoshan Iron & Steel Co., Ltd. Class A | 8,656 | 11,887 | ||||||
China Northern Rare Earth Group High-Tech Co., Ltd. Class A | 2,400 | 4,944 | ||||||
Hunan Gold Corp., Ltd. Class A | 4,800 | 6,828 | ||||||
Inner Mongolia BaoTou Steel Union Co., Ltd. Class A (a) | 37,800 | 13,157 | ||||||
Jiangxi Ganfeng Lithium Co., Ltd. Class A | 400 | 4,975 | ||||||
Kingswood Enterprise Co., Ltd. Class A (a) (b) | 4,500 | 2,118 | ||||||
Maanshan Iron & Steel Co., Ltd. Class A (a) | 7,400 | 4,246 | ||||||
Ningxia Xinri Hengli Steel Wire Co., Ltd. Class A (a) (b) | 1,100 | 2,943 | ||||||
Shandong Gold Mining Co., Ltd. Class A | 1,600 | 7,334 | ||||||
Shandong Humon Smelting Co., Ltd. Class A (a) | 3,100 | 5,090 | ||||||
Shandong Iron and Steel Co., Ltd. Class A (a) (b) | 9,360 | 3,030 | ||||||
Shanghai Prosolar Resources Development Co., Ltd. Class A (a) | 2,300 | 1,630 | ||||||
Shanxi Taigang Stainless Steel Co., Ltd. Class A | 4,600 | 4,226 | ||||||
Shenzhen Zhongjin Lingnan Nonfemet Co., Ltd. Class A | 1,700 | 2,524 | ||||||
Tongling Nonferrous Metals Group Co., Ltd. Class A (a) | 10,600 | 4,448 | ||||||
Western Mining Co., Ltd. Class A | 5,700 | 6,142 | ||||||
Zhejiang Huayou Cobalt Co., Ltd. Class A (a) | 300 | 5,488 | ||||||
Zhongjin Gold Corp., Ltd. Class A | 4,130 | 6,072 | ||||||
Zhongnan Red Culture Group Co., Ltd. Class A | 1,300 | 2,519 | ||||||
Zijin Mining Group Co., Ltd. Class A | 10,400 | 7,273 | ||||||
|
| |||||||
114,674 | ||||||||
|
| |||||||
MULTILINE RETAIL — 1.0% | ||||||||
Beijing Capital Retailing Group Co., Ltd. Class A | 1,800 | 2,263 | ||||||
Chengdu Hongqi Chain Co., Ltd. Class A | 2,800 | 2,497 | ||||||
Dalian Friendship Group Class A | 4,200 | 4,219 | ||||||
Hunan Friendship & Apollo Cmmericial Co., Ltd. Class A | 4,000 | 3,147 | ||||||
Rainbow Department Store Co., Ltd. Class A | 1,700 | 5,255 | ||||||
Shanghai Yimin Commerce Group Co., Ltd. Class A | 3,100 | 2,207 | ||||||
Wuhan Department Store Group Co., Ltd. Class A | 2,080 | 5,042 | ||||||
|
| |||||||
24,630 | ||||||||
|
|
See accompanying notes to financial statements.
44
Table of Contents
SPDR MSCI CHINA A SHARES IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
OIL, GAS & CONSUMABLE FUELS — 2.0% |
| |||||||
Changchun Sinoenergy Corp. Class A (a) (b) | 2,800 | $ | 4,750 | |||||
China Petroleum & Chemical Corp. Class A | 4,700 | 4,945 | ||||||
Guanghui Energy Co., Ltd. Class A (b) | 4,600 | 3,002 | ||||||
Jizhong Energy Resources Co., Ltd. Class A | 4,100 | 3,350 | ||||||
Oriental Energy Co., Ltd. Class A | 1,400 | 2,526 | ||||||
PetroChina Co., Ltd. Class A | 4,500 | 5,507 | ||||||
Shanxi Lanhua Sci-Tech Venture Co., Ltd. Class A (a) | 6,800 | 8,365 | ||||||
Shanxi Xishan Coal & Electricity Power Co., Ltd. Class A | 7,000 | 8,767 | ||||||
Wintime Energy Co., Ltd. Class A (b) | 6,200 | 3,307 | ||||||
Yang Quan Coal Industry Group Co., Ltd. Class A (a) | 3,400 | 3,918 | ||||||
|
| |||||||
48,437 | ||||||||
|
| |||||||
PAPER & FOREST PRODUCTS — 0.7% |
| |||||||
DeHua TB New Decoration Materials Co., Ltd. Class A | 1,950 | 3,490 | ||||||
Fujian Jinsen Forestry Co., Ltd. Class A | 400 | 1,448 | ||||||
Guangdong Weihua Corp. Class A (a) | 3,000 | 7,739 | ||||||
Sichuan Guodong Construction Co., Ltd. Class A (a) | 5,200 | 2,818 | ||||||
|
| |||||||
15,495 | ||||||||
|
| |||||||
PHARMACEUTICALS — 5.3% | ||||||||
Beijing Tongrentang Co., Ltd. Class A | 1,000 | 5,353 | ||||||
China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. Class A | 1,000 | 4,307 | ||||||
Dong-E-E-Jiao Co., Ltd. Class A | 700 | 6,782 | ||||||
Guangdong Zhongsheng Pharmaceutical Co., Ltd. Class A | 1,900 | 3,603 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class A | 600 | 2,770 | ||||||
Guizhou Bailing Group Pharmaceutical Co., Ltd. Class A | 800 | 1,826 | ||||||
Harbin Gloria Pharmaceuticals Co., Ltd. Class A (b) | 2,400 | 2,152 | ||||||
Humanwell Healthcare Group Co., Ltd. Class A | 1,000 | 2,424 | ||||||
Jiangsu Hengrui Medicine Co., Ltd. Class A | 1,440 | 18,951 | ||||||
Jilin Aodong Pharmaceutical Group Co., Ltd. Class A | 1,430 | 4,652 | ||||||
Joincare Pharmaceutical Group Industry Co., Ltd. Class A | 1,400 | 2,672 | ||||||
Kangmei Pharmaceutical Co., Ltd. Class A | 2,600 | 9,257 | ||||||
Renhe Pharmacy Co., Ltd. Class A | 1,800 | 1,459 | ||||||
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class A | 1,100 | 7,350 | ||||||
Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Class A | 1,280 | 3,473 | ||||||
Shenzhen Salubris Pharmaceuticals Co., Ltd. Class A | 800 | 5,300 |
Security Description | Shares | Value | ||||||
Shijiazhuang Yiling Pharmaceutical Co., Ltd. Class A | 900 | $ | 2,186 | |||||
Sichuan Kelun Pharmaceutical Co., Ltd. Class A | 1,100 | 5,054 | ||||||
Tasly Pharmaceutical Group Co., Ltd. Class A | 600 | 4,100 | ||||||
Tianjin Lisheng Pharmaceutical Co., Ltd. Class A | 900 | 4,085 | ||||||
Tonghua Dongbao Pharmaceutical Co., Ltd. Class A | 1,152 | 4,581 | ||||||
Yabao Pharmaceutical Group Co., Ltd. Class A | 1,500 | 1,805 | ||||||
Yifan Pharmaceutical Co., Ltd. Class A | 900 | 3,117 | ||||||
Zhangzhou Pientzehuang Pharmaceutical Co., Ltd. Class A | 600 | 7,744 | ||||||
Zhejiang Yatai Pharmaceutical Co., Ltd. Class A | 3,600 | 10,545 | ||||||
|
| |||||||
125,548 | ||||||||
|
| |||||||
PROFESSIONAL SERVICES — 0.3% |
| |||||||
Beijing Orient Landscape & Environment Co., Ltd. Class A | 2,000 | 6,361 | ||||||
|
| |||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 5.6% |
| |||||||
Beijing Capital Development Co., Ltd. Class A | 1,600 | 2,177 | ||||||
Beijing Centergate Technologies Holding Co., Ltd. Class A (a) | 3,200 | 3,270 | ||||||
Beijing Urban Construction Investment & Development Co., Ltd. Class A | 1,500 | 2,804 | ||||||
China Fortune Land Development Co., Ltd. Class A | 1,400 | 7,472 | ||||||
China Merchants Shekou Industrial Zone Holdings Co., Ltd. Class A | 2,721 | 9,575 | ||||||
China Vanke Co., Ltd. Class A | 5,100 | 27,690 | ||||||
Chongqing Dima Industry Co., Ltd. Class A | 3,600 | 2,214 | ||||||
Citychamp Dartong Co., Ltd. Class A | 2,100 | 1,963 | ||||||
Gemdale Corp. Class A | 2,700 | 5,145 | ||||||
Guangdong Shirongzhaoye Co., Ltd. Class A | 1,900 | 4,143 | ||||||
Hainan Haide Industry Co., Ltd. Class A (a) | 1,000 | 4,069 | ||||||
Hubei Fuxing Science And Technology Co., Ltd. Class A | 1,700 | 2,629 | ||||||
Jinke Properties Group Co., Ltd. Class A | 4,100 | 3,597 | ||||||
Lushang Property Co., Ltd. Class A (a) | 3,200 | 1,882 | ||||||
Myhome Real Estate Development Group Co., Ltd. Class A | 3,600 | 1,717 | ||||||
Oceanwide Holdings Co., Ltd. Class A (b) | 2,600 | 3,112 | ||||||
Poly Real Estate Group Co., Ltd. Class A | 1,700 | 3,718 | ||||||
RiseSun Real Estate Development Co., Ltd. Class A | 2,600 | 4,215 | ||||||
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class A | 1,440 | 4,312 | ||||||
Shanghai Wanye Enterprises Co., Ltd. Class A | 2,200 | 4,241 | ||||||
Shanghai Zhangjiang High-Tech Park Development Co., Ltd. Class A | 1,300 | 2,765 |
See accompanying notes to financial statements.
45
Table of Contents
SPDR MSCI CHINA A SHARES IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Shenzhen World Union Properties Consultancy, Inc. Class A | 2,100 | $ | 3,211 | |||||
Tahoe Group Co., Ltd. Class A | 800 | 3,617 | ||||||
Xinhu Zhongbao Co., Ltd. Class A (a) | 15,100 | 11,160 | ||||||
Youngor Group Co., Ltd. Class A | 2,660 | 3,556 | ||||||
Zhejiang China Commodities City Group Co., Ltd. Class A | 4,100 | 3,499 | ||||||
Zhongtian Financial Group Co., Ltd. Class A (b) | 3,000 | 3,928 | ||||||
Zhongzhu Holding Co., Ltd. Class A (b) | 2,800 | 2,659 | ||||||
|
| |||||||
134,340 | ||||||||
|
| |||||||
ROAD & RAIL — 0.7% | ||||||||
China High-Speed Railway Technology Co., Ltd. Class A | 3,300 | 3,588 | ||||||
Daqin Railway Co., Ltd. Class A | 7,400 | 9,762 | ||||||
Guangshen Railway Co., Ltd. Class A | 4,300 | 3,130 | ||||||
|
| |||||||
16,480 | ||||||||
|
| |||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.2% |
| |||||||
EGing Photovoltaic Technology Co., Ltd. Class A | 3,600 | 2,386 | ||||||
Hangzhou Silan Microelectronics Co., Ltd. Class A | 2,600 | 6,149 | ||||||
LONGi Green Energy Technology Co., Ltd. Class A | 1,800 | 9,653 | ||||||
Sanan Optoelectronics Co., Ltd. Class A | 2,240 | 8,253 | ||||||
Shanghai Belling Co., Ltd. Class A | 1,300 | 2,847 | ||||||
|
| |||||||
29,288 | ||||||||
|
| |||||||
SOFTWARE — 1.9% | ||||||||
Beijing Shiji Information Technology Co., Ltd. Class A | 600 | 2,422 | ||||||
Glodon Co., Ltd. Class A | 1,000 | 4,018 | ||||||
Hangzhou Lianluo Interactive Information Technology Co., Ltd. Class A | 1,000 | 1,090 | ||||||
Hunan Tianrun Digital Entertainment & Cultural Media Co., Ltd. Class A (a) (b) | 3,800 | 5,467 | ||||||
Hundsun Technologies, Inc. Class A | 400 | 3,664 | ||||||
Iflytek Co., Ltd. Class A | 900 | 8,453 | ||||||
Inspur Software Co., Ltd. Class A | 500 | 1,416 | ||||||
Kingnet Network Co., Ltd. Class A | 1,000 | 2,707 | ||||||
Neusoft Corp. Class A | 1,200 | 2,706 | ||||||
Shanghai 2345 Network Holding Group Co., Ltd. Class A | 2,040 | 1,822 | ||||||
Shanghai Golden Bridge InfoTech Co., Ltd. Class A | 600 | 1,624 | ||||||
Sinodata Co., Ltd. Class A | 300 | 953 | ||||||
Wisesoft Co., Ltd. Class A | 500 | 1,381 | ||||||
Yonyou Network Technology Co., Ltd. Class A | 1,100 | 6,539 | ||||||
|
| |||||||
44,262 | ||||||||
|
| |||||||
SPECIALTY RETAIL — 0.5% | ||||||||
Pang Da Automobile Trade Co., Ltd. Class A (a) | 5,700 | 2,120 |
Security Description | Shares | Value | ||||||
Suning Commerce Group Co., Ltd. Class A | 4,300 | $ | 9,602 | |||||
|
| |||||||
11,722 | ||||||||
|
| |||||||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 1.5% |
| |||||||
BOE Technology Group Co., Ltd. Class A | 18,800 | 16,046 | ||||||
Dawning Information Industry Co., Ltd. Class A | 400 | 3,370 | ||||||
Focus Media Information Technology Co., Ltd. Class A | 4,300 | 9,007 | ||||||
GRG Banking Equipment Co., Ltd. Class A | 2,025 | 2,250 | ||||||
Guangzhou KingTeller Technology Co., Ltd. Class A (a) | 2,700 | 2,077 | ||||||
Inspur Electronic Information Industry Co., Ltd. Class A | 1,040 | 3,954 | ||||||
|
| |||||||
36,704 | ||||||||
|
| |||||||
TEXTILES,APPAREL & LUXURY GOODS — 1.4% |
| |||||||
Anhui Huamao Textile Co. Class A | 4,300 | 2,877 | ||||||
Bros Eastern Co., Ltd. Class A | 3,000 | 2,522 | ||||||
Gansu Gangtai Holding Group Co., Ltd. Class A | 1,300 | 2,236 | ||||||
Huafu Top Dyed Melange Yarn Co., Ltd. Class A | 2,500 | 4,697 | ||||||
Huasi Holding Co., Ltd. Class A | 1,000 | 1,238 | ||||||
Jiangsu Huaxicun Co., Ltd. Class A | 2,000 | 2,387 | ||||||
Jiangsu Sunshine Co., Ltd. Class A (a) | 3,300 | 1,432 | ||||||
Luthai Textile Co., Ltd. Class A | 1,300 | 2,159 | ||||||
NanJi E-Commerce Co., Ltd. Class A (a) | 2,000 | 4,854 | ||||||
Yantai Tayho Advanced Materials Co., Ltd. Class A | 1,200 | 2,270 | ||||||
Zhejiang Hangmin Co., Ltd. Class A (b) | 1,700 | 3,092 | ||||||
Zhejiang Ming Jewelry Co., Ltd. Class A | 1,500 | 1,631 | ||||||
Zhejiang Weixing Industrial Development Co., Ltd. Class A | 1,300 | 2,322 | ||||||
|
| |||||||
33,717 | ||||||||
|
| |||||||
TRADING COMPANIES & DISTRIBUTORS — 0.6% |
| |||||||
CMST Development Co., Ltd. Class A | 2,700 | 3,815 | ||||||
Shandong Hiking International Co., Ltd. Class A (a) (b) | 1,800 | 2,560 | ||||||
Shanghai Lansheng Corp. Class A | 600 | 1,285 | ||||||
Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd. Class A | 700 | 1,977 | ||||||
Sinochem International Corp. Class A | 2,100 | 2,450 | ||||||
Tianjin Teda Co., Ltd. Class A | 4,500 | 3,247 | ||||||
|
| |||||||
15,334 | ||||||||
|
| |||||||
TRANSPORTATION INFRASTRUCTURE — 1.8% |
| |||||||
Dalian Port PDA Co., Ltd. Class A | 7,130 | 2,878 | ||||||
Fujian Expressway Development Co., Ltd. Class A | 9,700 | 5,381 | ||||||
Henan Zhongyuan Expressway Co., Ltd. Class A | 4,400 | 3,322 |
See accompanying notes to financial statements.
46
Table of Contents
SPDR MSCI CHINA A SHARES IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Hubei Chutian Expressway Co., Ltd. Class A | 6,400 | $ | 4,313 | |||||
Jiangxi Ganyue Expressway Co., Ltd. Class A | 4,000 | 3,071 | ||||||
Shanghai International Port Group Co., Ltd. Class A | 3,700 | 4,181 | ||||||
Shenzhen Chiwan Wharf Holdings, Ltd. Class A (b) | 1,500 | 5,787 | ||||||
TangShan Port Group Co., Ltd. Class A | 5,040 | 3,821 | ||||||
Xiandai Investment Co., Ltd. Class A (b) | 4,800 | 4,937 | ||||||
Yingkou Port Liability Co., Ltd. Class A | 5,100 | 2,472 | ||||||
Zhangjiagang Freetrade Science & Technology Group Co., Ltd. Class A (b) | 3,600 | 2,635 | ||||||
|
| |||||||
42,798 | ||||||||
|
| |||||||
WATER UTILITIES — 0.4% | ||||||||
Beijing Capital Co., Ltd. Class A | 4,600 | 3,846 | ||||||
Chengdu Xingrong Environment Co., Ltd. Class A | 3,600 | 2,884 | ||||||
Guangdong Golden Dragon Development, Inc. Class A | 900 | 2,214 | ||||||
|
| |||||||
8,944 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 2,342,527 | |||||||
|
|
Security Description | Shares | Value | ||||||
SHORT-TERM INVESTMENT — 0.0% (c) |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (d) (e) | 749 | $ | 749 | |||||
|
| |||||||
TOTAL INVESTMENTS — 98.5% | 2,343,276 | |||||||
|
| |||||||
OTHER ASSETS IN EXCESS OF |
| 35,233 | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 2,378,509 | ||||||
|
|
(a) | Non-income producing security. |
(b) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $120,556 representing 5.1% of net assets. |
(c) | Amount shown represents less than 0.05% of net assets. |
(d) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(e) | The rate shown is the annualized seven-day yield at March 31, 2018. |
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Aerospace & Defense | $ | 18,658 | $ | — | $ | — | $ | 18,658 | ||||||||||||
Air Freight & Logistics | 9,922 | — | — | 9,922 | ||||||||||||||||
Airlines | 21,236 | 5,986 | — | 27,222 | ||||||||||||||||
Auto Components | 42,236 | 2,575 | — | 44,811 | ||||||||||||||||
Automobiles | 36,270 | — | — | 36,270 | ||||||||||||||||
Banks | 275,124 | — | — | 275,124 | ||||||||||||||||
Beverages | 131,729 | — | — | 131,729 | ||||||||||||||||
Biotechnology | 8,722 | — | — | 8,722 | ||||||||||||||||
Building Products | 8,217 | — | — | 8,217 | ||||||||||||||||
Capital Markets | 103,504 | — | — | 103,504 | ||||||||||||||||
Chemicals | 84,859 | 24,485 | — | 109,344 | ||||||||||||||||
Commercial Services & Supplies | 17,113 | 5,650 | — | 22,763 | ||||||||||||||||
Communications Equipment | 22,238 | — | — | 22,238 | ||||||||||||||||
Construction & Engineering | 82,284 | 2,548 | — | 84,832 | ||||||||||||||||
Construction Materials | 21,775 | 2,473 | — | 24,248 | ||||||||||||||||
Containers & Packaging | 10,842 | — | — | 10,842 | ||||||||||||||||
Distributors | 1,060 | — | — | 1,060 | ||||||||||||||||
Diversified Consumer Services | 7,973 | — | — | 7,973 | ||||||||||||||||
Diversified Financial Services | 3,571 | — | — | 3,571 | ||||||||||||||||
Diversified Telecommunication Services | 6,174 | — | — | 6,174 | ||||||||||||||||
Electric Utilities | 2,965 | — | — | 2,965 | ||||||||||||||||
Electrical Equipment | 62,291 | 6,855 | — | 69,146 | ||||||||||||||||
Electronic Equipment, Instruments & Components | 93,062 | — | — | 93,062 |
See accompanying notes to financial statements.
47
Table of Contents
SPDR MSCI CHINA A SHARES IMI ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Energy Equipment & Services | $ | 14,012 | $ | — | $ | — | $ | 14,012 | ||||||||||||
Food & Staples Retailing | 10,355 | — | — | 10,355 | ||||||||||||||||
Food Products | 75,764 | — | — | 75,764 | ||||||||||||||||
Health Care Equipment & Supplies | 2,268 | — | — | 2,268 | ||||||||||||||||
Health Care Providers & Services | 18,684 | — | — | 18,684 | ||||||||||||||||
Hotels, Restaurants & Leisure | 15,818 | — | — | 15,818 | ||||||||||||||||
Household Durables | 61,812 | — | — | 61,812 | ||||||||||||||||
Independent Power Producers & Energy Traders | 53,494 | — | — | 53,494 | ||||||||||||||||
Industrial Conglomerates | 1,950 | — | — | 1,950 | ||||||||||||||||
Insurance | 83,490 | — | — | 83,490 | ||||||||||||||||
Internet Software & Services | 3,571 | 2,820 | — | 6,391 | ||||||||||||||||
IT Services | 8,408 | — | — | 8,408 | ||||||||||||||||
Leisure Equipment & Products | 3,656 | — | — | 3,656 | ||||||||||||||||
Life Sciences Tools & Services | 2,722 | — | — | 2,722 | ||||||||||||||||
Machinery | 106,599 | 7,665 | — | 114,264 | ||||||||||||||||
Marine | 3,575 | — | — | 3,575 | ||||||||||||||||
Media | 30,713 | 4,020 | — | 34,733 | ||||||||||||||||
Metals & Mining | 106,583 | 8,091 | — | 114,674 | ||||||||||||||||
Multiline Retail | 24,630 | — | — | 24,630 | ||||||||||||||||
Oil, Gas & Consumable Fuels | 37,378 | 11,059 | — | 48,437 | ||||||||||||||||
Paper & Forest Products | 15,495 | — | — | 15,495 | ||||||||||||||||
Pharmaceuticals | 123,396 | 2,152 | — | 125,548 | ||||||||||||||||
Professional Services | 6,361 | — | — | 6,361 | ||||||||||||||||
Real Estate Management & Development | 124,641 | 9,699 | — | 134,340 | ||||||||||||||||
Road & Rail | 16,480 | — | — | 16,480 | ||||||||||||||||
Semiconductors & Semiconductor Equipment | 29,288 | — | — | 29,288 | ||||||||||||||||
Software | 38,795 | 5,467 | — | 44,262 | ||||||||||||||||
Specialty Retail | 11,722 | — | — | 11,722 | ||||||||||||||||
Technology Hardware, Storage & Peripherals | 36,704 | — | — | 36,704 | ||||||||||||||||
Textiles, Apparel & Luxury Goods | 30,625 | 3,092 | — | 33,717 | ||||||||||||||||
Trading Companies & Distributors | 12,774 | 2,560 | — | 15,334 | ||||||||||||||||
Transportation Infrastructure | 29,439 | 13,359 | — | 42,798 | ||||||||||||||||
Water Utilities | 8,944 | — | — | 8,944 | ||||||||||||||||
Short-Term Investment | 749 | — | — | 749 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 2,222,720 | $ | 120,556 | $ | — | $ | 2,343,276 | ||||||||||||
|
|
|
|
|
|
|
|
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 966 | $ | 966 | $ | 3,955 | $ | 4,172 | $ | — | $ | — | 749 | $ | 749 | $ | 6 | $ | — |
See accompanying notes to financial statements.
48
Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.5% | ||||||||
AUSTRALIA — 5.9% | ||||||||
Alumina, Ltd. | 13,278 | $ | 24,036 | |||||
Amcor, Ltd. | 6,275 | 68,204 | ||||||
AMP, Ltd. | 16,060 | 61,471 | ||||||
APA Group | 5,535 | 33,455 | ||||||
Aristocrat Leisure, Ltd. | 2,927 | 54,018 | ||||||
ASX, Ltd. | 1,040 | 44,721 | ||||||
Aurizon Holdings, Ltd. | 11,127 | 36,103 | ||||||
Australia & New Zealand Banking Group, Ltd. | 15,820 | 325,939 | ||||||
Bank of Queensland, Ltd. | 2,131 | 17,915 | ||||||
Bendigo & Adelaide Bank, Ltd. (a) | 2,647 | 19,979 | ||||||
BlueScope Steel, Ltd. | 3,378 | 39,100 | ||||||
Boral, Ltd. | 5,871 | 33,505 | ||||||
Brambles, Ltd. | 8,619 | 65,980 | ||||||
Caltex Australia, Ltd. | 1,426 | 34,346 | ||||||
Challenger, Ltd. | 3,087 | 27,325 | ||||||
CIMIC Group, Ltd. | 540 | 18,420 | ||||||
Coca-Cola Amatil, Ltd. | 3,087 | 20,530 | ||||||
Cochlear, Ltd. | 320 | 44,580 | ||||||
Commonwealth Bank of Australia | 9,032 | 500,963 | ||||||
Computershare, Ltd. | 2,527 | 33,553 | ||||||
Crown Resorts, Ltd. | 1,970 | 19,176 | ||||||
CSL, Ltd. | 2,467 | 294,179 | ||||||
Dexus REIT | 5,254 | 37,560 | ||||||
Domino’s Pizza Enterprises, Ltd. (a) | 340 | 10,883 | ||||||
Flight Centre Travel Group, Ltd. (a) | 422 | 18,447 | ||||||
Fortescue Metals Group, Ltd. (a) | 8,459 | 28,095 | ||||||
Goodman Group REIT | 9,653 | 62,419 | ||||||
GPT Group REIT | 9,773 | 35,533 | ||||||
Healthscope, Ltd. | 9,413 | 13,971 | ||||||
Incitec Pivot, Ltd. | 9,159 | 24,659 | ||||||
Insurance Australia Group, Ltd. | 13,178 | 75,609 | ||||||
LendLease Group | 2,987 | 39,660 | ||||||
Macquarie Group, Ltd. | 1,686 | 133,075 | ||||||
Medibank Pvt, Ltd. | 14,938 | 33,229 | ||||||
Mirvac Group REIT | 20,112 | 33,168 | ||||||
National Australia Bank, Ltd. | 14,360 | 313,813 | ||||||
Newcrest Mining, Ltd. | 4,172 | 62,595 | ||||||
Orica, Ltd. | 2,030 | 27,654 | ||||||
QBE Insurance Group, Ltd. | 7,461 | 55,112 | ||||||
Ramsay Health Care, Ltd. (a) | 760 | 36,330 | ||||||
REA Group, Ltd. | 280 | 17,012 | ||||||
Scentre Group REIT | 28,899 | 84,899 | ||||||
SEEK, Ltd. | 1,787 | 25,495 | ||||||
Sonic Healthcare, Ltd. | 2,193 | 38,487 | ||||||
Stockland REIT | 13,515 | 41,778 | ||||||
Suncorp Group, Ltd. | 6,977 | 71,392 | ||||||
Sydney Airport | 5,937 | 30,557 | ||||||
Tabcorp Holdings, Ltd. | 8,059 | 27,137 | ||||||
Telstra Corp., Ltd. | 23,217 | 55,919 | ||||||
Transurban Group Stapled Security | 11,833 | 103,654 | ||||||
Treasury Wine Estates, Ltd. | 4,012 | 51,885 | ||||||
Vicinity Centres REIT | 18,270 | 33,774 | ||||||
Wesfarmers, Ltd. | 6,117 | 195,001 | ||||||
Westfield Corp. REIT | 10,707 | 69,973 | ||||||
Westpac Banking Corp. | 17,869 | 392,278 |
Security Description | Shares | Value | ||||||
Woolworths, Ltd. | 7,147 | $ | 144,125 | |||||
|
| |||||||
4,242,676 | ||||||||
|
| |||||||
AUSTRIA — 0.2% | ||||||||
ANDRITZ AG | 400 | 22,334 | ||||||
Erste Group Bank AG | 1,646 | 82,593 | ||||||
Raiffeisen Bank International AG (b) | 640 | 24,864 | ||||||
Voestalpine AG | 620 | 32,460 | ||||||
|
| |||||||
162,251 | ||||||||
|
| |||||||
BELGIUM — 1.3% | ||||||||
Ageas | 1,080 | 55,733 | ||||||
Anheuser-Busch InBev SA | 4,058 | 445,573 | ||||||
Colruyt SA | 360 | 19,888 | ||||||
Groupe Bruxelles Lambert SA | 440 | 50,217 | ||||||
KBC Group NV | 1,380 | 120,026 | ||||||
Proximus SADP | 820 | 25,444 | ||||||
Solvay SA | 400 | 55,516 | ||||||
Telenet Group Holding NV (b) | 280 | 18,681 | ||||||
UCB SA | 680 | 55,346 | ||||||
Umicore SA | 1,040 | 54,909 | ||||||
|
| |||||||
901,333 | ||||||||
|
| |||||||
CHILE — 0.0% (c) | ||||||||
Antofagasta PLC | 2,127 | 27,480 | ||||||
|
| |||||||
CHINA — 0.1% | ||||||||
Minth Group, Ltd. | 4,000 | 18,221 | ||||||
Yangzijiang Shipbuilding Holdings, Ltd. | 14,000 | 12,918 | ||||||
|
| |||||||
31,139 | ||||||||
|
| |||||||
DENMARK — 2.0% | ||||||||
AP Moeller - Maersk A/S Class B | 40 | 61,667 | ||||||
AP Moller - Maersk A/S Class A | 15 | 21,915 | ||||||
Carlsberg A/S Class B | 580 | 68,977 | ||||||
Chr Hansen Holding A/S | 540 | 46,419 | ||||||
Coloplast A/S Class B | 640 | 53,917 | ||||||
Danske Bank A/S | 3,748 | 139,385 | ||||||
DONG Energy A/S (d) | 1,081 | 69,916 | ||||||
DSV A/S | 1,020 | 79,821 | ||||||
Genmab A/S (b) | 300 | 64,248 | ||||||
H Lundbeck A/S | 299 | 16,665 | ||||||
ISS A/S | 900 | 33,203 | ||||||
Novo Nordisk A/S Class B | 9,976 | 489,673 | ||||||
Novozymes A/S Class B | 1,260 | 64,945 | ||||||
Pandora A/S | 600 | 64,327 | ||||||
TDC A/S (b) | 4,032 | 33,342 | ||||||
Tryg A/S | 558 | 12,935 | ||||||
Vestas Wind Systems A/S | 1,220 | 86,515 | ||||||
William Demant Holding A/S (b) | 640 | 23,674 | ||||||
|
| |||||||
1,431,544 | ||||||||
|
| |||||||
FINLAND — 1.1% | ||||||||
Elisa Oyj | 760 | 34,369 | ||||||
Fortum Oyj (a) | 2,407 | 51,656 | ||||||
Kone Oyj Class B | 1,847 | 92,065 | ||||||
Metso Oyj (a) | 620 | 19,528 | ||||||
Neste Oyj (a) | 700 | 48,727 | ||||||
Nokia Oyj | 31,679 | 174,738 |
See accompanying notes to financial statements.
49
Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Nokian Renkaat Oyj | 620 | $ | 28,137 | |||||
Orion Oyj Class B | 560 | 17,128 | ||||||
Sampo Oyj Class A | 2,427 | 135,094 | ||||||
Stora Enso Oyj Class R (a) | 2,987 | 54,828 | ||||||
UPM-Kymmene Oyj | 2,887 | 106,872 | ||||||
Wartsila Oyj Abp | 2,404 | 53,070 | ||||||
|
| |||||||
816,212 | ||||||||
|
| |||||||
FRANCE — 10.2% | ||||||||
Accor SA | 949 | 51,179 | ||||||
Aeroports de Paris | 160 | 34,829 | ||||||
Air Liquide SA | 2,313 | 282,985 | ||||||
Airbus SE | 3,077 | 354,963 | ||||||
Alstom SA | 820 | 36,920 | ||||||
Amundi SA (d) | 320 | 25,683 | ||||||
Arkema SA | 360 | 46,931 | ||||||
Atos SE | 480 | 65,585 | ||||||
AXA SA | 10,305 | 273,750 | ||||||
BioMerieux | 219 | 18,046 | ||||||
BNP Paribas SA | 5,965 | 441,411 | ||||||
Bollore SA (e) | 4,760 | 25,348 | ||||||
Bollore SA (a) (b) (e) | 22 | 117 | ||||||
Bouygues SA | 1,140 | 57,077 | ||||||
Bureau Veritas SA | 1,466 | 38,060 | ||||||
Capgemini SE | 880 | 109,526 | ||||||
Carrefour SA (a) | 3,089 | 64,013 | ||||||
Casino Guichard Perrachon SA (a) | 300 | 14,688 | ||||||
Cie de Saint-Gobain | 2,687 | 141,635 | ||||||
Cie Generale des Etablissements Michelin SCA | 860 | 126,815 | ||||||
CNP Assurances | 920 | 23,195 | ||||||
Credit Agricole SA | 5,743 | 93,267 | ||||||
Danone SA | 3,084 | 249,305 | ||||||
Dassault Aviation SA | 14 | 26,705 | ||||||
Dassault Systemes SE | 702 | 95,314 | ||||||
Edenred | 1,158 | 40,218 | ||||||
Eiffage SA | 320 | 36,396 | ||||||
Essilor International Cie Generale d’Optique SA | 1,121 | 151,101 | ||||||
Eurazeo SA | 235 | 21,604 | ||||||
Eutelsat Communications SA | 940 | 18,613 | ||||||
Faurecia SA | 401 | 32,411 | ||||||
Fonciere Des Regions REIT | 182 | 20,067 | ||||||
Gecina SA REIT | 242 | 41,995 | ||||||
Getlink SE | 2,523 | 35,994 | ||||||
Hermes International | 155 | 91,787 | ||||||
ICADE REIT | 200 | 19,407 | ||||||
Iliad SA | 140 | 28,926 | ||||||
Imerys SA | 200 | 19,407 | ||||||
Ingenico Group SA | 303 | 24,550 | ||||||
Ipsen SA | 201 | 31,184 | ||||||
JCDecaux SA | 400 | 13,902 | ||||||
Kering SA | 401 | 191,745 | ||||||
Klepierre SA REIT | 1,200 | 48,333 | ||||||
Lagardere SCA | 640 | 18,261 | ||||||
Legrand SA | 1,466 | 114,849 | ||||||
L’Oreal SA | 1,373 | 309,602 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 1,477 | 454,486 |
Security Description | Shares | Value | ||||||
Natixis SA | 5,094 | $ | 41,711 | |||||
Orange SA | 10,787 | 182,877 | ||||||
Pernod Ricard SA | 1,160 | 192,951 | ||||||
Peugeot SA | 2,627 | 63,162 | ||||||
Publicis Groupe SA | 1,053 | 73,273 | ||||||
Remy Cointreau SA | 120 | 17,090 | ||||||
Renault SA | 918 | 111,207 | ||||||
Rexel SA | 1,666 | 28,173 | ||||||
Safran SA | 1,707 | 180,503 | ||||||
Sanofi | 5,976 | 480,148 | ||||||
Schneider Electric SE | 3,027 | 265,581 | ||||||
SCOR SE | 880 | 35,996 | ||||||
SEB SA | 105 | 20,042 | ||||||
Societe BIC SA | 160 | 15,909 | ||||||
Societe Generale SA | 4,043 | 219,576 | ||||||
Sodexo SA | 520 | 52,377 | ||||||
Suez | 1,932 | 27,966 | ||||||
Teleperformance | 304 | 47,108 | ||||||
Thales SA | 580 | 70,575 | ||||||
Ubisoft Entertainment SA (b) | 335 | 28,230 | ||||||
Unibail-Rodamco SE REIT (a) | 540 | 123,294 | ||||||
Valeo SA | 1,300 | 85,760 | ||||||
Veolia Environnement SA | 2,447 | 57,917 | ||||||
Vinci SA | 2,727 | 267,969 | ||||||
Vivendi SA | 5,337 | 137,838 | ||||||
Wendel SA | 160 | 24,932 | ||||||
|
| |||||||
7,314,350 | ||||||||
|
| |||||||
GERMANY — 10.4% | ||||||||
1&1 Drillisch AG | 280 | 18,854 | ||||||
adidas AG | 1,020 | 246,687 | ||||||
Allianz SE | 2,375 | 535,692 | ||||||
Axel Springer SE | 240 | 20,071 | ||||||
BASF SE | 4,843 | 491,205 | ||||||
Bayer AG | 4,361 | 492,304 | ||||||
Bayerische Motoren Werke AG | 1,807 | 195,899 | ||||||
Bayerische Motoren Werke AG Preference Shares | 300 | 28,096 | ||||||
Beiersdorf AG | 540 | 61,112 | ||||||
Brenntag AG | 840 | 49,897 | ||||||
Commerzbank AG (b) | 5,783 | 74,991 | ||||||
Continental AG | 600 | 165,513 | ||||||
Covestro AG (d) | 819 | 80,439 | ||||||
Daimler AG | 5,009 | 424,877 | ||||||
Deutsche Bank AG | 10,568 | 147,205 | ||||||
Deutsche Boerse AG | 1,040 | 141,462 | ||||||
Deutsche Lufthansa AG | 1,280 | 40,835 | ||||||
Deutsche Post AG | 5,274 | 230,391 | ||||||
Deutsche Telekom AG | 17,492 | 285,041 | ||||||
Deutsche Wohnen SE | 1,847 | 86,091 | ||||||
Evonik Industries AG | 880 | 30,996 | ||||||
Fraport AG Frankfurt Airport Services Worldwide | 220 | 21,672 | ||||||
Fresenius Medical Care AG & Co. KGaA | 1,200 | 122,464 | ||||||
Fresenius SE & Co. KGaA | 2,207 | 168,448 | ||||||
Fuchs Petrolub SE Preference Shares | 380 | 20,610 | ||||||
GEA Group AG | 980 | 41,642 |
See accompanying notes to financial statements.
50
Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Hannover Rueck SE | 320 | $ | 43,645 | |||||
HeidelbergCement AG | 760 | 74,569 | ||||||
Henkel AG & Co. KGaA Preference Shares | 960 | 126,153 | ||||||
Henkel AG & Co. KGaA | 560 | 70,456 | ||||||
HOCHTIEF AG | 120 | 22,388 | ||||||
HUGO BOSS AG | 360 | 31,329 | ||||||
Infineon Technologies AG | 6,141 | 164,192 | ||||||
Innogy SE (d) | 910 | 43,054 | ||||||
KION Group AG | 242 | 22,542 | ||||||
KS AG | 1,040 | 29,981 | ||||||
Lanxess AG | 500 | 38,248 | ||||||
Linde AG (b) | 1,000 | 210,427 | ||||||
MAN SE | 200 | 23,306 | ||||||
Merck KGaA | 700 | 67,064 | ||||||
METRO AG | 960 | 16,990 | ||||||
MTU Aero Engines AG | 276 | 46,435 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 761 | 176,748 | ||||||
OSRAM Licht AG | 480 | 35,278 | ||||||
Porsche Automobil Holding SE Preference Shares | 820 | 68,072 | ||||||
ProSiebenSat.1 Media SE | 1,200 | 41,589 | ||||||
QIAGEN NV (b) | 1,177 | 37,998 | ||||||
RWE AG (b) | 2,647 | 65,304 | ||||||
SAP SE | 5,186 | 541,939 | ||||||
Schaeffler AG Preference Shares | 900 | 13,875 | ||||||
Siemens AG | 4,018 | 511,548 | ||||||
Symrise AG | 660 | 53,053 | ||||||
Telefonica Deutschland Holding AG | 4,052 | 19,016 | ||||||
ThyssenKrupp AG | 1,990 | 51,860 | ||||||
TUI AG | 2,275 | 48,764 | ||||||
United Internet AG | 660 | 41,478 | ||||||
Volkswagen AG | 117 | 23,397 | ||||||
Volkswagen AG Preference Shares | 1,000 | 198,473 | ||||||
Vonovia SE | 2,608 | 129,100 | ||||||
Wirecard AG | 620 | 73,140 | ||||||
Zalando SE (b) (d) | 460 | 25,051 | ||||||
|
| |||||||
7,408,956 | ||||||||
|
| |||||||
HONG KONG — 3.6% | ||||||||
AIA Group, Ltd. | 64,000 | 541,468 | ||||||
ASM Pacific Technology, Ltd. | 1,600 | 22,344 | ||||||
Bank of East Asia, Ltd. | 8,134 | 32,439 | ||||||
BOC Hong Kong Holdings, Ltd. | 20,000 | 97,346 | ||||||
CK Asset Holdings, Ltd. | 12,000 | 100,684 | ||||||
CK Hutchison Holdings, Ltd. | 13,000 | 155,537 | ||||||
CK Infrastructure Holdings, Ltd. | 2,000 | 16,347 | ||||||
CLP Holdings, Ltd. | 9,000 | 91,625 | ||||||
Galaxy Entertainment Group, Ltd. | 15,000 | 136,176 | ||||||
Hang Lung Group, Ltd. | 3,000 | 9,805 | ||||||
Hang Lung Properties, Ltd. | 16,000 | 37,267 | ||||||
Hang Seng Bank, Ltd. | 4,000 | 92,555 | ||||||
Henderson Land Development Co., Ltd. | 5,000 | 32,555 | ||||||
HKT Trust & HKT, Ltd. | 20,000 | 25,152 | ||||||
Hong Kong Exchanges & Clearing, Ltd. | 6,076 | 197,571 |
Security Description | Shares | Value | ||||||
Hongkong Land Holdings, Ltd. | 6,000 | $ | 41,340 | |||||
Hysan Development Co., Ltd. | 2,000 | 10,575 | ||||||
Jardine Matheson Holdings, Ltd. | 1,300 | 80,106 | ||||||
Jardine Strategic Holdings, Ltd. | 1,500 | 57,510 | ||||||
Kerry Properties, Ltd. | 2,500 | 11,260 | ||||||
Kingston Financial Group, Ltd. (a) | 20,000 | 8,945 | ||||||
Li & Fung, Ltd. | 40,000 | 19,571 | ||||||
Link REIT | 10,000 | 85,369 | ||||||
Melco Resorts & Entertainment, Ltd. ADR | 1,020 | 29,560 | ||||||
MTR Corp., Ltd. | 8,500 | 45,704 | ||||||
New World Development Co., Ltd. | 33,943 | 47,920 | ||||||
NWS Holdings, Ltd. | 7,530 | 13,662 | ||||||
Power Assets Holdings, Ltd. | 8,500 | 75,758 | ||||||
Sands China, Ltd. | 13,600 | 73,127 | ||||||
Shangri-La Asia, Ltd. | 2,000 | 4,026 | ||||||
Sino Land Co., Ltd. | 14,675 | 23,747 | ||||||
SJM Holdings, Ltd. | 20,000 | 17,380 | ||||||
Sun Hung Kai Properties, Ltd. | 8,000 | 126,397 | ||||||
Swire Pacific, Ltd. Class A | 1,000 | 10,085 | ||||||
Swire Properties, Ltd. | 8,000 | 28,031 | ||||||
Techtronic Industries Co., Ltd. | 8,000 | 46,634 | ||||||
WH Group, Ltd. (d) | 47,500 | 50,597 | ||||||
Wharf Holdings, Ltd. | 4,000 | 13,735 | ||||||
Wharf Real Estate Investment Co., Ltd. (b) | 5,000 | 32,555 | ||||||
Wheelock & Co., Ltd. | 2,000 | 14,615 | ||||||
Yue Yuen Industrial Holdings, Ltd. | 3,500 | 13,891 | ||||||
|
| |||||||
2,570,971 | ||||||||
|
| |||||||
IRELAND — 0.6% | ||||||||
AerCap Holdings NV (b) | 758 | 38,446 | ||||||
AIB Group PLC | 4,304 | 25,895 | ||||||
Bank of Ireland Group PLC (b) | 4,978 | 43,529 | ||||||
CRH PLC | 4,534 | 153,734 | ||||||
James Hardie Industries PLC | 2,407 | 42,224 | ||||||
Kerry Group PLC Class A | 860 | 87,152 | ||||||
Paddy Power Betfair PLC | 440 | 45,158 | ||||||
Ryanair Holdings PLC ADR (b) | 180 | 22,113 | ||||||
|
| |||||||
458,251 | ||||||||
|
| |||||||
ISRAEL — 0.5% | ||||||||
Azrieli Group, Ltd. | 240 | 11,491 | ||||||
Bank Hapoalim BM | 5,783 | 39,598 | ||||||
Bank Leumi Le-Israel BM | 6,279 | 37,754 | ||||||
Bezeq The Israeli Telecommunication Corp., Ltd. | 11,247 | 14,352 | ||||||
Check Point Software Technologies, Ltd. (b) | 700 | 69,538 | ||||||
Elbit Systems, Ltd. | 122 | 14,630 | ||||||
Frutarom Industries, Ltd. | 218 | 19,938 | ||||||
Israel Chemicals, Ltd. | 2,767 | 11,664 | ||||||
Mizrahi Tefahot Bank, Ltd. | 760 | 14,510 | ||||||
Nice, Ltd. | 320 | 29,686 | ||||||
Teva Pharmaceutical Industries, Ltd. | 4,954 | 84,043 | ||||||
|
| |||||||
347,204 | ||||||||
|
| |||||||
ITALY — 1.7% | ||||||||
Assicurazioni Generali SpA | 6,335 | 121,736 |
See accompanying notes to financial statements.
51
Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Atlantia SpA | 2,227 | $ | 68,883 | |||||
Davide Campari-Milano SpA | 3,070 | 23,220 | ||||||
Ferrari NV | 660 | 79,173 | ||||||
Intesa Sanpaolo SpA (e) | 70,526 | 256,176 | ||||||
Intesa Sanpaolo SpA (e) | 5,054 | 19,132 | ||||||
Leonardo SpA | 2,187 | 25,224 | ||||||
Luxottica Group SpA | 920 | 57,139 | ||||||
Mediobanca Banca di Credito Finanziario SpA | 3,067 | 36,015 | ||||||
Poste Italiane SpA (d) | 2,827 | 25,798 | ||||||
Prysmian SpA | 1,080 | 33,870 | ||||||
Recordati SpA | 561 | 20,685 | ||||||
Snam SpA | 13,298 | 61,052 | ||||||
Telecom Italia SpA/Milano (b) | 54,948 | 52,102 | ||||||
Telecom Italia SpA/Milano | 32,710 | 27,210 | ||||||
Terna Rete Elettrica Nazionale SpA | 8,179 | 47,770 | ||||||
UniCredit SpA (b) | 10,559 | 220,606 | ||||||
UnipolSai Assicurazioni SpA | 6,137 | 14,589 | ||||||
|
| |||||||
1,190,380 | ||||||||
|
| |||||||
JAPAN — 25.8% | ||||||||
Aeon Co., Ltd. | 3,400 | 60,087 | ||||||
AEON Financial Service Co., Ltd. (a) | 500 | 11,462 | ||||||
Air Water, Inc. | 1,500 | 28,956 | ||||||
Aisin Seiki Co., Ltd. | 1,200 | 64,767 | ||||||
Ajinomoto Co., Inc. | 3,500 | 63,138 | ||||||
Alfresa Holdings Corp. (a) | 1,500 | 33,413 | ||||||
Alps Electric Co., Ltd. | 500 | 12,177 | ||||||
Amada Holdings Co., Ltd. | 2,000 | 23,977 | ||||||
ANA Holdings, Inc. | 300 | 11,518 | ||||||
Aozora Bank, Ltd. | 300 | 11,932 | ||||||
Asahi Glass Co., Ltd. | 1,200 | 49,591 | ||||||
Asahi Group Holdings, Ltd. | 2,000 | 107,005 | ||||||
Asahi Kasei Corp. | 6,100 | 80,215 | ||||||
Asics Corp. (a) | 500 | 9,220 | �� | |||||
Astellas Pharma, Inc. | 11,200 | 170,185 | ||||||
Bandai Namco Holdings, Inc. | 1,500 | 47,955 | ||||||
Bank of Kyoto, Ltd. | 200 | 11,171 | ||||||
Benesse Holdings, Inc. | 300 | 10,776 | ||||||
Bridgestone Corp. | 3,600 | 156,660 | ||||||
Brother Industries, Ltd. | 1,600 | 36,513 | ||||||
Calbee, Inc. (a) | 300 | 10,127 | ||||||
Canon, Inc. | 5,700 | 206,347 | ||||||
Casio Computer Co., Ltd. (a) | 500 | 7,353 | ||||||
Central Japan Railway Co. | 800 | 151,274 | ||||||
Chiba Bank, Ltd. | 2,000 | 16,117 | ||||||
Chubu Electric Power Co., Inc. | 4,000 | 57,057 | ||||||
Chugai Pharmaceutical Co., Ltd. | 1,500 | 75,176 | ||||||
Chugoku Electric Power Co., Inc. (a) | 2,000 | 24,297 | ||||||
Coca-Cola Bottlers Japan Holdings, Inc. | 300 | 12,327 | ||||||
Concordia Financial Group, Ltd. | 6,000 | 33,456 | ||||||
Credit Saison Co., Ltd. | 1,500 | 24,739 | ||||||
Dai Nippon Printing Co., Ltd. | 1,500 | 30,790 | ||||||
Daicel Corp. | 2,000 | 21,702 | ||||||
Daifuku Co., Ltd. | 400 | 23,282 | ||||||
Dai-ichi Life Holdings, Inc. | 6,000 | 109,732 |
Security Description | Shares | Value | ||||||
Daiichi Sankyo Co., Ltd. | 3,500 | $ | 116,338 | |||||
Daikin Industries, Ltd. | 1,500 | 164,245 | ||||||
Daito Trust Construction Co., Ltd. | 300 | 50,804 | ||||||
Daiwa House Industry Co., Ltd. | 3,300 | 125,360 | ||||||
Daiwa House REIT Investment Corp. | 4 | 9,644 | ||||||
Daiwa Securities Group, Inc. | 6,000 | 38,155 | ||||||
DeNA Co., Ltd. (a) | 500 | 9,017 | ||||||
Denso Corp. | 2,300 | 125,046 | ||||||
Dentsu, Inc. | 1,500 | 65,585 | ||||||
Disco Corp. | 100 | 20,987 | ||||||
Don Quijote Holdings Co., Ltd. | 500 | 28,397 | ||||||
East Japan Railway Co. | 1,800 | 167,086 | ||||||
Eisai Co., Ltd. | 1,700 | 108,474 | ||||||
FamilyMart UNY Holdings Co., Ltd. | 200 | 16,568 | ||||||
FANUC Corp. | 1,200 | 299,803 | ||||||
Fast Retailing Co., Ltd. | 300 | 118,308 | ||||||
Fuji Electric Co., Ltd. | 2,000 | 13,521 | ||||||
FUJIFILM Holdings Corp. | 2,000 | 78,909 | ||||||
Fujitsu, Ltd. | 10,000 | 60,085 | ||||||
Fukuoka Financial Group, Inc. | 2,000 | 10,832 | ||||||
Hakuhodo DY Holdings, Inc. | 2,000 | 27,325 | ||||||
Hamamatsu Photonics KK | 600 | 22,849 | ||||||
Hankyu Hanshin Holdings, Inc. | 1,500 | 55,712 | ||||||
Hikari Tsushin, Inc. | 100 | 15,957 | ||||||
Hino Motors, Ltd. | 2,000 | 25,689 | ||||||
Hirose Electric Co., Ltd. | 105 | 14,355 | ||||||
Hisamitsu Pharmaceutical Co., Inc. | 200 | 15,308 | ||||||
Hitachi Chemical Co., Ltd. | 400 | 8,816 | ||||||
Hitachi Construction Machinery Co., Ltd. (a) | 400 | 15,270 | ||||||
Hitachi High-Technologies Corp. | 300 | 13,992 | ||||||
Hitachi Metals, Ltd. | 1,400 | 16,271 | ||||||
Hitachi, Ltd. | 25,000 | 179,384 | ||||||
Honda Motor Co., Ltd. | 9,400 | 321,819 | ||||||
Hoshizaki Corp. | 200 | 17,640 | ||||||
Hoya Corp. | 2,000 | 99,840 | ||||||
Hulic Co., Ltd. | 2,000 | 21,589 | ||||||
IHI Corp. | 500 | 15,421 | ||||||
Iida Group Holdings Co., Ltd. (a) | 1,400 | 25,854 | ||||||
Isetan Mitsukoshi Holdings, Ltd. | 2,000 | 21,871 | ||||||
Isuzu Motors, Ltd. | 2,400 | 36,310 | ||||||
ITOCHU Corp. (a) | 8,000 | 154,321 | ||||||
J Front Retailing Co., Ltd. | 1,500 | 24,979 | ||||||
Japan Airlines Co., Ltd. | 300 | 12,099 | ||||||
Japan Exchange Group, Inc. | 3,400 | 62,821 | ||||||
Japan Post Bank Co., Ltd. (a) | 2,000 | 26,949 | ||||||
Japan Post Holdings Co., Ltd. | 7,900 | 95,454 | ||||||
Japan Prime Realty Investment Corp. REIT | 3 | 10,860 | ||||||
Japan Real Estate Investment Corp. REIT | 3 | 15,543 | ||||||
Japan Retail Fund Investment Corp. REIT | 20 | 38,740 | ||||||
Japan Tobacco, Inc. | 6,000 | 171,227 | ||||||
JFE Holdings, Inc. | 2,500 | 49,777 | ||||||
JGC Corp. | 1,400 | 30,014 |
See accompanying notes to financial statements.
52
Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
JSR Corp. | 1,500 | $ | 33,329 | |||||
JTEKT Corp. | 1,400 | 20,246 | ||||||
Kajima Corp. | 3,000 | 27,842 | ||||||
Kakaku.com, Inc. | 400 | 6,962 | ||||||
Kamigumi Co., Ltd. | 500 | 11,067 | ||||||
Kaneka Corp. | 1,000 | 9,864 | ||||||
Kansai Electric Power Co., Inc. | 4,000 | 51,866 | ||||||
Kansai Paint Co., Ltd. | 1,600 | 37,040 | ||||||
Kao Corp. | 2,500 | 186,460 | ||||||
Kawasaki Heavy Industries, Ltd. | 400 | 12,732 | ||||||
KDDI Corp. | 9,700 | 246,764 | ||||||
Keihan Holdings Co., Ltd. | 400 | 12,318 | ||||||
Keikyu Corp. | 500 | 8,721 | ||||||
Keio Corp. | 500 | 21,345 | ||||||
Keisei Electric Railway Co., Ltd. | 400 | 12,186 | ||||||
Keyence Corp. | 500 | 307,945 | ||||||
Kikkoman Corp. | 600 | 24,034 | ||||||
Kintetsu Group Holdings Co., Ltd. | 800 | 31,255 | ||||||
Kirin Holdings Co., Ltd. | 4,400 | 116,402 | ||||||
Kobe Steel, Ltd. (b) | 2,000 | 19,614 | ||||||
Koito Manufacturing Co., Ltd. | 500 | 34,462 | ||||||
Komatsu, Ltd. | 4,500 | 148,308 | ||||||
Konami Holdings Corp. | 300 | 15,007 | ||||||
Konica Minolta, Inc. (a) | 2,000 | 16,794 | ||||||
Kose Corp. | 100 | 20,771 | ||||||
Kubota Corp. | 6,000 | 104,090 | ||||||
Kuraray Co., Ltd. | 2,000 | 34,227 | ||||||
Kurita Water Industries, Ltd. | 400 | 12,732 | ||||||
Kyocera Corp. | 1,800 | 100,316 | ||||||
Kyowa Hakko Kirin Co., Ltd. | 1,600 | 34,407 | ||||||
Kyushu Electric Power Co., Inc. | 2,000 | 23,996 | ||||||
Kyushu Financial Group, Inc. | 2,000 | 9,892 | ||||||
Kyushu Railway Co. | 349 | 10,829 | ||||||
Lawson, Inc. | 100 | 6,808 | ||||||
Lion Corp. | 600 | 12,214 | ||||||
LIXIL Group Corp. | 1,600 | 35,129 | ||||||
M3, Inc. (a) | 1,400 | 63,451 | ||||||
Mabuchi Motor Co., Ltd. | 200 | 9,817 | ||||||
Makita Corp. | 1,400 | 68,453 | ||||||
Marubeni Corp. | 10,000 | 72,092 | ||||||
Marui Group Co., Ltd. (a) | 500 | 9,967 | ||||||
Mazda Motor Corp. (a) | 3,300 | 43,736 | ||||||
McDonald’s Holdings Co. Japan, Ltd. | 200 | 9,422 | ||||||
Mebuki Financial Group, Inc. | 4,500 | 17,264 | ||||||
Medipal Holdings Corp. | 1,400 | 28,935 | ||||||
MEIJI Holdings Co., Ltd. | 500 | 38,223 | ||||||
MINEBEA MITSUMI, Inc. (a) | 2,000 | 42,181 | ||||||
MISUMI Group, Inc. (a) | 1,600 | 43,554 | ||||||
Mitsubishi Chemical Holdings Corp. | 8,000 | 76,728 | ||||||
Mitsubishi Corp. | 8,000 | 212,544 | ||||||
Mitsubishi Electric Corp. | 10,000 | 159,803 | ||||||
Mitsubishi Estate Co., Ltd. | 6,500 | 106,958 | ||||||
Mitsubishi Gas Chemical Co., Inc. | 1,400 | 33,187 | ||||||
Mitsubishi Heavy Industries, Ltd. | 1,300 | 49,616 | ||||||
Mitsubishi Materials Corp. | 300 | 8,787 | ||||||
Mitsubishi Motors Corp. (a) | 4,000 | 28,284 |
Security Description | Shares | Value | ||||||
Mitsubishi Tanabe Pharma Corp. | 1,600 | $ | 32,135 | |||||
Mitsubishi UFJ Financial Group, Inc. | 63,100 | 413,131 | ||||||
Mitsubishi UFJ Lease & Finance Co., Ltd. | 1,600 | 9,433 | ||||||
Mitsui & Co., Ltd. | 9,300 | 158,279 | ||||||
Mitsui Chemicals, Inc. | 800 | 25,049 | ||||||
Mitsui Fudosan Co., Ltd. | 4,500 | 107,137 | ||||||
Mitsui OSK Lines, Ltd. | 300 | 8,420 | ||||||
Mixi, Inc. | 200 | 7,410 | ||||||
Mizuho Financial Group, Inc. (a) | 130,000 | 234,086 | ||||||
MS&AD Insurance Group Holdings, Inc. | 2,400 | 73,930 | ||||||
Murata Manufacturing Co., Ltd. | 1,200 | 163,498 | ||||||
Nabtesco Corp. | 300 | 11,495 | ||||||
Nagoya Railroad Co., Ltd. | 400 | 10,133 | ||||||
NEC Corp. | 800 | 22,266 | ||||||
Nexon Co., Ltd. (b) | 2,800 | 47,101 | ||||||
NGK Insulators, Ltd. (a) | 1,600 | 27,321 | ||||||
NGK Spark Plug Co., Ltd. | 1,200 | 28,536 | ||||||
NH Foods, Ltd. | 500 | 20,428 | ||||||
Nidec Corp. | 1,400 | 211,942 | ||||||
Nikon Corp. | 2,000 | 35,712 | ||||||
Nintendo Co., Ltd. | 600 | 263,244 | ||||||
Nippon Building Fund, Inc. REIT | 5 | 27,645 | ||||||
Nippon Electric Glass Co., Ltd. | 300 | 8,575 | ||||||
Nippon Express Co., Ltd. | 200 | 13,070 | ||||||
Nippon Paint Holdings Co., Ltd. | 500 | 18,218 | ||||||
Nippon Prologis REIT, Inc. | 7 | 15,145 | ||||||
Nippon Steel & Sumitomo Metal Corp. | 4,000 | 86,808 | ||||||
Nippon Telegraph & Telephone Corp. | 3,800 | 175,154 | ||||||
Nippon Yusen KK | 900 | 17,441 | ||||||
Nissan Chemical Industries, Ltd. | 300 | 12,299 | ||||||
Nissan Motor Co., Ltd. (a) | 12,200 | 125,556 | ||||||
Nisshin Seifun Group, Inc. | 700 | 13,809 | ||||||
Nissin Foods Holdings Co., Ltd. | 200 | 13,803 | ||||||
Nitori Holdings Co., Ltd. | 400 | 69,525 | ||||||
Nitto Denko Corp. | 700 | 52,077 | ||||||
NOK Corp. | 200 | 3,857 | ||||||
Nomura Holdings, Inc. | 20,000 | 114,941 | ||||||
Nomura Real Estate Holdings, Inc. | 500 | 11,594 | ||||||
Nomura Real Estate Master Fund, Inc. | 20 | 27,776 | ||||||
Nomura Research Institute, Ltd. | 600 | 27,955 | ||||||
NSK, Ltd. | 2,000 | 26,479 | ||||||
NTT Data Corp. | 3,500 | 36,300 | ||||||
NTT DOCOMO, Inc. | 7,600 | 192,197 | ||||||
Obayashi Corp. | 4,000 | 43,479 | ||||||
Obic Co., Ltd. | 200 | 16,606 | ||||||
Odakyu Electric Railway Co., Ltd. (a) | 2,000 | 40,433 | ||||||
Oji Holdings Corp. | 2,000 | 12,750 | ||||||
Olympus Corp. | 1,700 | 64,260 | ||||||
Omron Corp. (a) | 1,400 | 80,433 | ||||||
Ono Pharmaceutical Co., Ltd. | 2,000 | 63,056 | ||||||
Oracle Corp. Japan | 100 | 8,171 |
See accompanying notes to financial statements.
53
Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Oriental Land Co., Ltd. | 1,400 | $ | 142,040 | |||||
ORIX Corp. | 6,700 | 118,345 | ||||||
Osaka Gas Co., Ltd. (a) | 2,200 | 43,379 | ||||||
Otsuka Corp. | 400 | 20,160 | ||||||
Otsuka Holdings Co., Ltd. | 2,000 | 99,539 | ||||||
Panasonic Corp. | 12,000 | 169,647 | ||||||
Park24 Co., Ltd. (a) | 400 | 10,840 | ||||||
Pola Orbis Holdings, Inc. | 300 | 12,398 | ||||||
Rakuten, Inc. | 6,000 | 49,241 | ||||||
Recruit Holdings Co., Ltd. | 6,000 | 148,040 | ||||||
Renesas Electronics Corp. (b) | 2,400 | 23,718 | ||||||
Resona Holdings, Inc. | 12,000 | 63,741 | ||||||
Ricoh Co., Ltd. (a) | 4,000 | 39,003 | ||||||
Rinnai Corp. | 100 | 9,441 | ||||||
Rohm Co., Ltd. | 500 | 46,544 | ||||||
Ryohin Keikaku Co., Ltd. | 100 | 33,098 | ||||||
Santen Pharmaceutical Co., Ltd. | 2,000 | 33,098 | ||||||
SBI Holdings, Inc. | 1,300 | 29,851 | ||||||
Secom Co., Ltd. | 1,400 | 103,075 | ||||||
Sega Sammy Holdings, Inc. | 500 | 8,016 | ||||||
Seibu Holdings, Inc. | 1,400 | 24,275 | ||||||
Seiko Epson Corp. | 1,600 | 27,411 | ||||||
Sekisui Chemical Co., Ltd. | 2,000 | 34,603 | ||||||
Sekisui House, Ltd. | 3,400 | 61,766 | ||||||
Seven & i Holdings Co., Ltd. | 4,000 | 170,456 | ||||||
Seven Bank, Ltd. (a) | 4,000 | 12,713 | ||||||
Sharp Corp. (b) | 600 | 17,772 | ||||||
Shimadzu Corp. | 1,400 | 37,992 | ||||||
Shimamura Co., Ltd. | 100 | 12,393 | ||||||
Shimano, Inc. | 300 | 43,018 | ||||||
Shimizu Corp. | 2,000 | 17,621 | ||||||
Shin-Etsu Chemical Co., Ltd. | 2,000 | 204,513 | ||||||
Shinsei Bank, Ltd. | 700 | 10,775 | ||||||
Shionogi & Co., Ltd. (a) | 1,800 | 92,835 | ||||||
Shiseido Co., Ltd. | 2,000 | 127,654 | ||||||
Shizuoka Bank, Ltd. | 2,000 | 18,994 | ||||||
Showa Shell Sekiyu KK | 1,300 | 17,492 | ||||||
SMC Corp. | 300 | 120,141 | ||||||
SoftBank Group Corp. | 4,300 | 315,616 | ||||||
Sohgo Security Services Co., Ltd. | 200 | 9,723 | ||||||
Sompo Holdings, Inc. | 2,000 | 79,756 | ||||||
Sony Corp. | 6,500 | 312,318 | ||||||
Sony Financial Holdings, Inc. (a) | 1,400 | 25,301 | ||||||
Stanley Electric Co., Ltd. | 500 | 18,500 | ||||||
Start Today Co., Ltd. | 1,400 | 35,925 | ||||||
Subaru Corp. | 3,500 | 114,824 | ||||||
SUMCO Corp. | 1,500 | 38,392 | ||||||
Sumitomo Chemical Co., Ltd. | 8,000 | 45,736 | ||||||
Sumitomo Corp. | 6,000 | 99,238 | ||||||
Sumitomo Dainippon Pharma Co., Ltd. | 500 | 8,265 | ||||||
Sumitomo Electric Industries, Ltd. | 4,000 | 60,423 | ||||||
Sumitomo Heavy Industries, Ltd. | 500 | 18,806 | ||||||
Sumitomo Metal Mining Co., Ltd. | 1,000 | 40,668 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 7,300 | 305,522 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 2,000 | 80,922 |
Security Description | Shares | Value | ||||||
Sumitomo Realty & Development Co., Ltd. | 2,000 | $ | 73,794 | |||||
Sumitomo Rubber Industries, Ltd. | 1,400 | 25,486 | ||||||
Sundrug Co., Ltd. (a) | 200 | 9,271 | ||||||
Suntory Beverage & Food, Ltd. | 600 | 29,055 | ||||||
Suruga Bank, Ltd. | 1,500 | 20,818 | ||||||
Suzuken Co., Ltd. | 300 | 12,496 | ||||||
Suzuki Motor Corp. | 2,000 | 107,250 | ||||||
Sysmex Corp. | 700 | 62,793 | ||||||
T&D Holdings, Inc. | 2,500 | 39,339 | ||||||
Taiheiyo Cement Corp. | 300 | 10,663 | ||||||
Taisei Corp. | 1,100 | 55,646 | ||||||
Takashimaya Co., Ltd. | 1,000 | 9,525 | ||||||
Takeda Pharmaceutical Co., Ltd. | 3,800 | 182,943 | ||||||
TDK Corp. | 700 | 61,279 | ||||||
Teijin, Ltd. | 1,500 | 28,209 | ||||||
Temp Holdings Co., Ltd. | 700 | 20,075 | ||||||
Terumo Corp. | 1,800 | 92,750 | ||||||
THK Co., Ltd. | 300 | 12,200 | ||||||
Tobu Railway Co., Ltd. | 600 | 18,166 | ||||||
Toho Co., Ltd. | 300 | 9,887 | ||||||
Tohoku Electric Power Co., Inc. (a) | 2,000 | 26,986 | ||||||
Tokio Marine Holdings, Inc. | 3,700 | 166,056 | ||||||
Tokyo Electric Power Co. Holdings, Inc. (b) | 8,000 | 31,067 | ||||||
Tokyo Electron, Ltd. | 800 | 144,542 | ||||||
Tokyo Gas Co., Ltd. | 2,200 | 58,294 | ||||||
Tokyo Tatemono Co., Ltd. | 1,400 | 20,997 | ||||||
Tokyu Corp. | 2,100 | 32,838 | ||||||
Tokyu Fudosan Holdings Corp. | 2,500 | 17,795 | ||||||
Toppan Printing Co., Ltd. | 1,000 | 8,124 | ||||||
Toray Industries, Inc. | 7,900 | 74,357 | ||||||
Toshiba Corp. (b) | 34,000 | 97,828 | ||||||
Tosoh Corp. | 1,600 | 31,067 | ||||||
TOTO, Ltd. | 400 | 20,649 | ||||||
Toyo Seikan Group Holdings, Ltd. (a) | 1,400 | 20,694 | ||||||
Toyo Suisan Kaisha, Ltd. | 300 | 11,791 | ||||||
Toyota Industries Corp. | 600 | 35,882 | ||||||
Toyota Motor Corp. | 13,800 | 887,819 | ||||||
Toyota Tsusho Corp. | 1,400 | 46,667 | ||||||
Trend Micro, Inc. | 500 | 29,008 | ||||||
Tsuruha Holdings, Inc. | 100 | 14,283 | ||||||
Unicharm Corp. | 2,000 | 57,339 | ||||||
United Urban Investment Corp. REIT | 20 | 31,255 | ||||||
USS Co., Ltd. | 1,400 | 28,355 | ||||||
West Japan Railway Co. | 900 | 63,258 | ||||||
Yahoo! Japan Corp. (a) | 8,000 | 37,160 | ||||||
Yakult Honsha Co., Ltd. | 600 | 44,739 | ||||||
Yamada Denki Co., Ltd. (a) | 4,000 | 24,109 | ||||||
Yamaha Corp. | 500 | 21,650 | ||||||
Yamaha Motor Co., Ltd. | 1,600 | 47,015 | ||||||
Yamato Holdings Co., Ltd. (a) | 2,000 | 49,826 | ||||||
Yaskawa Electric Corp. | 1,600 | 71,011 | ||||||
Yokogawa Electric Corp. | 1,400 | 27,934 | ||||||
Yokohama Rubber Co., Ltd. | 500 | 11,443 | ||||||
|
| |||||||
18,405,844 | ||||||||
|
|
See accompanying notes to financial statements.
54
Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
LUXEMBOURG — 0.4% | ||||||||
ArcelorMittal (b) | 3,327 | $ | 105,157 | |||||
Eurofins Scientific SE | 59 | 31,129 | ||||||
Millicom International Cellular SA SDR | 360 | 24,481 | ||||||
RTL Group SA | 220 | 18,250 | ||||||
SES SA (a) | 1,970 | 26,614 | ||||||
Tenaris SA | 2,547 | 43,697 | ||||||
|
| |||||||
249,328 | ||||||||
|
| |||||||
MACAU — 0.1% | ||||||||
MGM China Holdings, Ltd. | 8,000 | 20,641 | ||||||
Wynn Macau, Ltd. | 8,000 | 29,000 | ||||||
|
| |||||||
49,641 | ||||||||
|
| |||||||
MEXICO — 0.0% (c) | ||||||||
Fresnillo PLC | 1,220 | 21,709 | ||||||
|
| |||||||
NETHERLANDS — 3.0% | ||||||||
ABN AMRO Group NV (d) | 1,926 | 57,962 | ||||||
Aegon NV | 9,226 | 62,134 | ||||||
Akzo Nobel NV | 1,390 | 131,186 | ||||||
Altice NV Class A (a) (b) | 2,010 | 16,558 | ||||||
ASML Holding NV | 1,990 | 391,952 | ||||||
Boskalis Westminster | 497 | 14,547 | ||||||
EXOR NV | 600 | 42,592 | ||||||
Heineken Holding NV | 540 | 55,587 | ||||||
Heineken NV | 1,260 | 135,281 | ||||||
ING Groep NV | 20,495 | 345,319 | ||||||
Koninklijke Ahold Delhaize NV | 6,937 | 164,163 | ||||||
Koninklijke DSM NV | 1,007 | 99,869 | ||||||
Koninklijke KPN NV | 18,548 | 55,591 | ||||||
Koninklijke Philips NV | 4,959 | 190,070 | ||||||
Koninklijke Vopak NV | 380 | 18,624 | ||||||
NN Group NV | 1,646 | 72,957 | ||||||
NXP Semiconductors NV (b) | 1,362 | 159,354 | ||||||
Randstad Holding NV (a) | 640 | 42,047 | ||||||
Wolters Kluwer NV | 1,646 | 87,431 | ||||||
|
| |||||||
2,143,224 | ||||||||
|
| |||||||
NEW ZEALAND — 0.2% | ||||||||
Auckland International Airport, Ltd. | 5,357 | 23,651 | ||||||
Fisher & Paykel Healthcare Corp., Ltd. | 3,018 | 28,739 | ||||||
Fletcher Building, Ltd. | 3,768 | 16,391 | ||||||
Meridian Energy, Ltd. | 6,957 | 14,329 | ||||||
Ryman Healthcare, Ltd. | 2,114 | 16,150 | ||||||
Spark New Zealand, Ltd. | 9,931 | 23,928 | ||||||
|
| |||||||
123,188 | ||||||||
|
| |||||||
NORWAY — 0.5% | ||||||||
DNB ASA | 5,334 | 103,372 | ||||||
Gjensidige Forsikring ASA (a) | 1,100 | 20,120 | ||||||
Marine Harvest ASA | 2,067 | 41,388 | ||||||
Norsk Hydro ASA | 7,301 | 42,731 | ||||||
Orkla ASA | 4,434 | 47,520 | ||||||
Telenor ASA | 4,072 | 91,803 | ||||||
Yara International ASA | 960 | 40,486 | ||||||
|
| |||||||
387,420 | ||||||||
|
|
Security Description | Shares | Value | ||||||
PORTUGAL — 0.1% | ||||||||
EDP - Energias de Portugal SA | 12,571 | $ | 47,742 | |||||
Jeronimo Martins SGPS SA | 1,380 | 25,127 | ||||||
|
| |||||||
72,869 | ||||||||
|
| |||||||
SINGAPORE — 1.5% | ||||||||
Ascendas REIT | 12,000 | 24,068 | ||||||
CapitaLand Commercial Trust | 13,894 | 19,390 | ||||||
CapitaLand Mall Trust REIT | 14,000 | 22,207 | ||||||
CapitaLand, Ltd. | 14,000 | 38,115 | ||||||
City Developments, Ltd. | 2,000 | 19,828 | ||||||
ComfortDelGro Corp., Ltd. | 12,000 | 18,760 | ||||||
DBS Group Holdings, Ltd. | 9,573 | 200,761 | ||||||
Genting Singapore PLC | 32,000 | 26,356 | ||||||
Golden Agri-Resources, Ltd. | 25,500 | 6,806 | ||||||
Hutchison Port Holdings Trust | 36,100 | 10,649 | ||||||
Jardine Cycle & Carriage, Ltd. | 400 | 10,524 | ||||||
Keppel Corp., Ltd. | 8,000 | 47,403 | ||||||
Oversea-Chinese Banking Corp., Ltd. | 16,000 | 156,425 | ||||||
SATS, Ltd. | 3,600 | 14,084 | ||||||
Sembcorp Industries, Ltd. | 6,000 | 14,230 | ||||||
Singapore Airlines, Ltd. | 2,000 | 16,533 | ||||||
Singapore Exchange, Ltd. | 4,000 | 22,481 | ||||||
Singapore Press Holdings, Ltd. (a) | 8,000 | 15,374 | ||||||
Singapore Technologies Engineering, Ltd. | 8,000 | 21,902 | ||||||
Singapore Telecommunications, Ltd. | 44,000 | 113,079 | ||||||
Suntec Real Estate Investment Trust | 14,000 | 20,178 | ||||||
United Overseas Bank, Ltd. | 7,371 | 154,581 | ||||||
UOL Group, Ltd. | 2,523 | 16,451 | ||||||
Wilmar International, Ltd. | 10,000 | 24,251 | ||||||
|
| |||||||
1,034,436 | ||||||||
|
| |||||||
SOUTH AFRICA — 0.1% | ||||||||
Investec PLC | 3,367 | 25,959 | ||||||
Mediclinic International PLC (a) | 1,990 | 16,777 | ||||||
Mondi PLC | 1,990 | 53,459 | ||||||
|
| |||||||
96,195 | ||||||||
|
| |||||||
SPAIN — 3.3% | ||||||||
Abertis Infraestructuras SA | 3,507 | 78,585 | ||||||
ACS Actividades de Construccion y Servicios SA | 1,087 | 42,311 | ||||||
Aena SME SA (d) | 360 | 72,455 | ||||||
Amadeus IT Group SA | 2,367 | 174,605 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 36,357 | 287,464 | ||||||
Banco de Sabadell SA | 28,698 | 58,624 | ||||||
Banco Santander SA | 85,461 | 556,527 | ||||||
Bankia SA (a) | 6,250 | 27,971 | ||||||
Bankinter SA (a) | 3,667 | 37,684 | ||||||
CaixaBank SA | 17,872 | 85,106 | ||||||
Enagas SA | 1,240 | 33,901 | ||||||
Endesa SA | 1,747 | 38,427 | ||||||
Ferrovial SA | 2,787 | 58,149 | ||||||
Gas Natural SDG SA | 1,912 | 45,595 | ||||||
Grifols SA | 1,646 | 46,580 | ||||||
Iberdrola SA | 31,182 | 229,021 |
See accompanying notes to financial statements.
55
Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Industria de Diseno Textil SA | 5,687 | $ | 177,862 | |||||
Mapfre SA | 5,863 | 19,476 | ||||||
Red Electrica Corp. SA | 2,347 | 48,291 | ||||||
Siemens Gamesa Renewable Energy SA (a) | 1,498 | 23,996 | ||||||
Telefonica SA | 24,322 | 240,137 | ||||||
|
| |||||||
2,382,767 | ||||||||
|
| |||||||
SWEDEN — 2.9% | ||||||||
Alfa Laval AB | 1,606 | 37,807 | ||||||
Assa Abloy AB Class B | 5,454 | 117,451 | ||||||
Atlas Copco AB Class A | 3,469 | 149,616 | ||||||
Atlas Copco AB Class B | 2,107 | 81,640 | ||||||
Boliden AB | 1,506 | 52,599 | ||||||
Electrolux AB Class B | 1,320 | 41,374 | ||||||
Essity AB Class B (b) | 3,307 | 91,058 | ||||||
Getinge AB Class B | 1,233 | 13,978 | ||||||
Hennes & Mauritz AB Class B (a) | 5,154 | 77,038 | ||||||
Hexagon AB Class B | 1,426 | 84,455 | ||||||
Husqvarna AB Class B | 2,247 | 21,593 | ||||||
ICA Gruppen AB | 440 | 15,520 | ||||||
Industrivarden AB Class C | 880 | 20,380 | ||||||
Investor AB Class B | 2,467 | 108,757 | ||||||
Kinnevik AB Class B | 1,300 | 46,630 | ||||||
L E Lundbergforetagen AB Class B | 176 | 12,567 | ||||||
Nordea Bank AB | 15,957 | 169,768 | ||||||
Sandvik AB | 5,783 | 105,270 | ||||||
Securitas AB Class B | 1,727 | 29,231 | ||||||
Skandinaviska Enskilda Banken AB Class A | 8,259 | 86,231 | ||||||
Skanska AB Class B | 1,867 | 38,043 | ||||||
SKF AB Class B (a) | 2,147 | 43,710 | ||||||
Svenska Handelsbanken AB Class A (a) | 8,219 | 102,262 | ||||||
Swedbank AB Class A | 4,914 | 109,724 | ||||||
Swedish Match AB | 1,020 | 45,977 | ||||||
Tele2 AB Class B | 1,938 | 23,176 | ||||||
Telefonaktiebolaget LM Ericsson Class B (a) | 16,660 | 105,274 | ||||||
Telia Co. AB | 14,096 | 65,996 | ||||||
Volvo AB Class B | 8,379 | 152,326 | ||||||
|
| |||||||
2,049,451 | ||||||||
|
| |||||||
SWITZERLAND — 8.9% | ||||||||
ABB, Ltd. | 9,746 | 231,233 | ||||||
Adecco Group AG | 900 | 63,910 | ||||||
Baloise Holding AG | 280 | 42,719 | ||||||
Barry Callebaut AG | 14 | 27,310 | ||||||
Chocoladefabriken Lindt & Spruengli AG (e) | 3 | 18,562 | ||||||
Chocoladefabriken Lindt & Spruengli AG (e) | 1 | 72,577 | ||||||
Cie Financiere Richemont SA | 2,827 | 253,178 | ||||||
Clariant AG (b) | 1,229 | 29,275 | ||||||
Coca-Cola HBC AG (b) | 980 | 36,211 | ||||||
Credit Suisse Group AG (b) | 12,554 | 209,627 | ||||||
Dufry AG (b) | 240 | 31,366 | ||||||
EMS-Chemie Holding AG | 40 | 25,188 | ||||||
Ferguson PLC | 1,380 | 103,646 |
Security Description | Shares | Value | ||||||
Geberit AG | 200 | $ | 88,221 | |||||
Givaudan SA | 45 | 102,256 | ||||||
Julius Baer Group, Ltd. (b) | 1,220 | 74,836 | ||||||
Kuehne + Nagel International AG | 300 | 47,086 | ||||||
LafargeHolcim, Ltd. (b) | 2,467 | 134,737 | ||||||
Lonza Group AG (b) | 360 | 84,662 | ||||||
Nestle SA | 16,381 | 1,293,579 | ||||||
Novartis AG | 11,704 | 944,289 | ||||||
Pargesa Holding SA | 180 | 15,921 | ||||||
Partners Group Holding AG | 100 | 74,144 | ||||||
Roche Holding AG | 3,718 | 850,683 | ||||||
Schindler Holding AG (e) | 240 | 51,629 | ||||||
Schindler Holding AG (e) | 120 | 25,063 | ||||||
SGS SA | 24 | 58,847 | ||||||
Sika AG | 14 | 109,430 | ||||||
Sonova Holding AG | 280 | 44,386 | ||||||
STMicroelectronics NV (a) | 3,467 | 76,686 | ||||||
Straumann Holding AG | 56 | 35,205 | ||||||
Swatch Group AG (e) | 160 | 70,409 | ||||||
Swatch Group AG (e) | 260 | 21,734 | ||||||
Swiss Life Holding AG (b) | 180 | 63,966 | ||||||
Swiss Prime Site AG (b) | 380 | 36,686 | ||||||
Swiss Re AG | 1,674 | 170,057 | ||||||
Swisscom AG | 140 | 69,240 | ||||||
UBS Group AG (b) | 19,305 | 338,583 | ||||||
Vifor Pharma AG | 200 | 30,754 | ||||||
Zurich Insurance Group AG (b) | 820 | 268,367 | ||||||
|
| |||||||
6,326,258 | ||||||||
|
| |||||||
UNITED KINGDOM — 15.1% | ||||||||
3i Group PLC | 5,274 | 63,552 | ||||||
Admiral Group PLC | 1,160 | 30,006 | ||||||
Ashtead Group PLC | 2,727 | 74,213 | ||||||
Associated British Foods PLC | 1,932 | 67,511 | ||||||
AstraZeneca PLC | 6,808 | 467,533 | ||||||
Auto Trader Group PLC (d) | 5,454 | 26,824 | ||||||
Aviva PLC | 22,021 | 153,189 | ||||||
Babcock International Group PLC | 1,380 | 12,947 | ||||||
BAE Systems PLC | 17,210 | 140,363 | ||||||
Barclays PLC | 85,780 | 248,486 | ||||||
Barratt Developments PLC | 5,454 | 40,580 | ||||||
Berkeley Group Holdings PLC | 720 | 38,270 | ||||||
British American Tobacco PLC | 12,061 | 698,931 | ||||||
British Land Co. PLC REIT | 5,334 | 48,038 | ||||||
BT Group PLC | 45,795 | 146,149 | ||||||
Bunzl PLC | 1,827 | 53,693 | ||||||
Burberry Group PLC | 2,407 | 57,266 | ||||||
Capita PLC | 3,627 | 7,329 | ||||||
Carnival PLC | 1,020 | 65,533 | ||||||
CNH Industrial NV | 5,574 | 68,758 | ||||||
Cobham PLC (b) | 12,969 | 22,359 | ||||||
Coca-Cola European Partners PLC | 1,200 | 49,912 | ||||||
Compass Group PLC | 8,577 | 175,123 | ||||||
ConvaTec Group PLC (d) | 6,289 | 17,565 | ||||||
Croda International PLC | 700 | 44,856 | ||||||
DCC PLC | 480 | 44,171 | ||||||
Diageo PLC | 13,416 | 453,938 | ||||||
Direct Line Insurance Group PLC | 7,481 | 40,015 |
See accompanying notes to financial statements.
56
Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
easyJet PLC | 860 | $ | 19,357 | |||||
Experian PLC | 5,214 | 112,456 | ||||||
Fiat Chrysler Automobiles NV | 5,610 | 113,855 | ||||||
G4S PLC | 8,419 | 29,301 | ||||||
GKN PLC | 9,299 | 60,397 | ||||||
GlaxoSmithKline PLC | 26,240 | 513,124 | ||||||
Hammerson PLC REIT (a) | 4,314 | 32,473 | ||||||
Hargreaves Lansdown PLC | 1,426 | 32,666 | ||||||
HSBC Holdings PLC | 106,167 | 990,987 | ||||||
IMI PLC | 1,486 | 22,513 | ||||||
Imperial Brands PLC | 5,094 | 173,359 | ||||||
InterContinental Hotels Group PLC | 978 | 58,554 | ||||||
International Consolidated Airlines Group SA | 3,496 | 30,183 | ||||||
Intertek Group PLC | 880 | 57,526 | ||||||
ITV PLC | 19,688 | 39,812 | ||||||
J Sainsbury PLC | 8,899 | 29,811 | ||||||
John Wood Group PLC | 3,575 | 27,081 | ||||||
Johnson Matthey PLC | 1,040 | 44,380 | ||||||
Kingfisher PLC | 12,351 | 50,679 | ||||||
Land Securities Group PLC REIT | 4,022 | 52,872 | ||||||
Legal & General Group PLC | 32,290 | 116,774 | ||||||
Lloyds Banking Group PLC | 385,214 | 349,409 | ||||||
London Stock Exchange Group PLC | 1,727 | 99,958 | ||||||
Marks & Spencer Group PLC | 8,819 | 33,427 | ||||||
Meggitt PLC | 4,212 | 25,513 | ||||||
Merlin Entertainments PLC (d) | 3,848 | 18,709 | ||||||
Micro Focus International PLC | 2,303 | 31,880 | ||||||
National Grid PLC | 18,783 | 211,370 | ||||||
Next PLC | 760 | 50,737 | ||||||
Old Mutual PLC | 26,765 | 89,848 | ||||||
Pearson PLC | 4,474 | 47,008 | ||||||
Persimmon PLC | 1,686 | 59,838 | ||||||
Prudential PLC | 13,856 | 345,691 | ||||||
Randgold Resources, Ltd. | 500 | 41,256 | ||||||
Reckitt Benckiser Group PLC | 3,379 | 286,015 | ||||||
RELX NV | 5,414 | 112,061 | ||||||
RELX PLC | 5,937 | 122,011 | ||||||
Rolls-Royce Holdings PLC (b) | 8,554 | 104,588 | ||||||
Royal Bank of Scotland Group PLC (b) | 19,200 | 69,705 | ||||||
Royal Mail PLC | 4,894 | 37,128 | ||||||
RSA Insurance Group PLC | 5,554 | 49,084 | ||||||
Sage Group PLC | 5,863 | 52,572 | ||||||
Schroders PLC | 740 | 33,135 | ||||||
Segro PLC REIT | 5,519 | 46,545 | ||||||
Severn Trent PLC | 1,300 | 33,628 | ||||||
Shire PLC | 4,838 | 242,321 | ||||||
Sky PLC | 5,614 | 102,182 | ||||||
Smith & Nephew PLC | 4,854 | 90,630 | ||||||
Smiths Group PLC | 2,147 | 45,584 | ||||||
St James’s Place PLC | 2,847 | 43,392 | ||||||
Standard Chartered PLC | 17,170 | 171,662 | ||||||
Standard Life Aberdeen PLC | 14,522 | 73,276 | ||||||
Taylor Wimpey PLC | 17,708 | 45,856 |
Security Description | Shares | Value | ||||||
Tesco PLC | 51,459 | $ | 148,632 | |||||
Travis Perkins PLC | 896 | 15,510 | ||||||
Unilever NV | 8,615 | 486,000 | ||||||
Unilever PLC | 6,680 | 370,658 | ||||||
United Utilities Group PLC | 3,707 | 37,202 | ||||||
Vodafone Group PLC | 137,528 | 374,698 | ||||||
Weir Group PLC | 1,190 | 33,295 | ||||||
Whitbread PLC | 980 | 50,866 | ||||||
Wm Morrison Supermarkets PLC | 12,047 | 36,081 | ||||||
WPP PLC | 6,997 | 111,159 | ||||||
|
| |||||||
10,795,390 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 71,040,467 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 2.9% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (f) (g) | 7,344 | 7,344 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (f) (h) | 2,106,482 | 2,106,482 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 2,113,826 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 102.4% | 73,154,293 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.4)% | (1,736,667 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 71,417,626 | ||||||
|
|
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Non-income producing security. |
(c) | Amount is less than 0.05% of net assets. |
(d) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.7% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(e) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(f) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(g) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(h) | Investment of cash collateral for securities loaned. |
ADR =American Depositary Receipt
REIT =Real Estate Investment Trust
SDR =Swedish Depositary Receipt
See accompanying notes to financial statements.
57
Table of Contents
SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | $ | 4,242,676 | $ | — | $ | — | $ | 4,242,676 | ||||||||||||
Austria | 162,251 | — | — | 162,251 | ||||||||||||||||
Belgium | 901,333 | — | — | 901,333 | ||||||||||||||||
Chile | 27,480 | — | — | 27,480 | ||||||||||||||||
China | 31,139 | — | — | 31,139 | ||||||||||||||||
Denmark | 1,431,544 | — | — | 1,431,544 | ||||||||||||||||
Finland | 816,212 | — | — | 816,212 | ||||||||||||||||
France | 7,314,350 | — | — | 7,314,350 | ||||||||||||||||
Germany | 7,408,956 | — | — | 7,408,956 | ||||||||||||||||
Hong Kong | 2,570,971 | — | — | 2,570,971 | ||||||||||||||||
Ireland | 458,251 | — | — | 458,251 | ||||||||||||||||
Israel | 347,204 | — | — | 347,204 | ||||||||||||||||
Italy | 1,190,380 | — | — | 1,190,380 | ||||||||||||||||
Japan | 18,405,844 | — | — | 18,405,844 | ||||||||||||||||
Luxembourg | 249,328 | — | — | 249,328 | ||||||||||||||||
Macau | 49,641 | — | — | 49,641 | ||||||||||||||||
Mexico | 21,709 | — | — | 21,709 | ||||||||||||||||
Netherlands | 2,143,224 | — | — | 2,143,224 | ||||||||||||||||
New Zealand | 123,188 | — | — | 123,188 | ||||||||||||||||
Norway | 387,420 | — | — | 387,420 | ||||||||||||||||
Portugal | 72,869 | — | — | 72,869 | ||||||||||||||||
Singapore | 1,034,436 | — | — | 1,034,436 | ||||||||||||||||
South Africa | 96,195 | — | — | 96,195 | ||||||||||||||||
Spain | 2,382,767 | — | — | 2,382,767 | ||||||||||||||||
Sweden | 2,049,451 | — | — | 2,049,451 | ||||||||||||||||
Switzerland | 6,326,258 | — | — | 6,326,258 | ||||||||||||||||
United Kingdom | 10,795,390 | — | — | 10,795,390 | ||||||||||||||||
Short-Term Investments | 2,113,826 | — | — | 2,113,826 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 73,154,293 | $ | — | $ | — | $ | 73,154,293 | ||||||||||||
|
|
|
|
|
|
|
|
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 75,546 | $ | 75,546 | $ | 1,646,576 | $ | 1,714,778 | $ | — | $ | — | 7,344 | $ | 7,344 | $ | 313 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 242,956 | 242,956 | 4,347,394 | 2,483,868 | — | — | 2,106,482 | 2,106,482 | 4,886 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 318,502 | $ | 5,993,970 | $ | 4,198,646 | $ | — | $ | — | $ | 2,113,826 | $ | 5,199 | $ | — | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
58
Table of Contents
SPDR MSCI EAFE STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.4% | ||||||||
AUSTRALIA — 5.0% | ||||||||
AGL Energy, Ltd. | 28,993 | $ | 482,143 | |||||
Amcor, Ltd. | 11,776 | 127,995 | ||||||
Aristocrat Leisure, Ltd. | 11,077 | 204,428 | ||||||
ASX, Ltd. | 4,727 | 203,265 | ||||||
Australia & New Zealand Banking Group, Ltd. | 22,684 | 467,358 | ||||||
BHP Billiton PLC | 11,909 | 234,485 | ||||||
BHP Billiton, Ltd. | 16,833 | 364,241 | ||||||
Brambles, Ltd. | 33,116 | 253,508 | ||||||
Caltex Australia, Ltd. | 5,481 | 132,012 | ||||||
Cochlear, Ltd. | 2,255 | 314,148 | ||||||
Commonwealth Bank of Australia | 15,664 | 868,810 | ||||||
CSL, Ltd. | 15,269 | 1,820,761 | ||||||
Dexus REIT | 31,237 | 223,310 | ||||||
Goodman Group REIT | 18,315 | 118,429 | ||||||
GPT Group REIT | 41,624 | 151,337 | ||||||
Insurance Australia Group, Ltd. | 30,445 | 174,679 | ||||||
LendLease Group | 11,057 | 146,811 | ||||||
Macquarie Group, Ltd. | 1,918 | 151,387 | ||||||
Medibank Pvt, Ltd. | 102,957 | 229,022 | ||||||
Mirvac Group REIT | 92,705 | 152,885 | ||||||
National Australia Bank, Ltd. | 18,433 | 402,821 | ||||||
Newcrest Mining, Ltd. | 17,348 | 260,281 | ||||||
QBE Insurance Group, Ltd. | 13,073 | 96,566 | ||||||
Ramsay Health Care, Ltd. (a) | 2,160 | 103,254 | ||||||
REA Group, Ltd. | 2,478 | 150,558 | ||||||
Scentre Group REIT | 99,811 | 293,225 | ||||||
SEEK, Ltd. | 9,699 | 138,377 | ||||||
Sonic Healthcare, Ltd. | 24,136 | 423,589 | ||||||
Stockland REIT | 49,381 | 152,647 | ||||||
Suncorp Group, Ltd. | 12,501 | 127,916 | ||||||
Tabcorp Holdings, Ltd. | 18,086 | 60,902 | ||||||
Telstra Corp., Ltd. | 276,176 | 665,180 | ||||||
Transurban Group Stapled Security | 50,055 | 438,467 | ||||||
Vicinity Centres REIT | 138,068 | 255,231 | ||||||
Wesfarmers, Ltd. | 24,205 | 771,621 | ||||||
Westfield Corp. REIT | 46,778 | 305,707 | ||||||
Westpac Banking Corp. | 22,454 | 492,932 | ||||||
Woodside Petroleum, Ltd. | 7,620 | 170,905 | ||||||
Woolworths, Ltd. | 31,295 | 631,087 | ||||||
|
| |||||||
12,762,280 | ||||||||
|
| |||||||
AUSTRIA — 0.1% | ||||||||
OMV AG | 3,205 | 186,362 | ||||||
|
| |||||||
BELGIUM — 1.1% | ||||||||
Ageas | 2,403 | 124,006 | ||||||
Anheuser-Busch InBev SA | 4,003 | 439,534 | ||||||
Colruyt SA | 9,530 | 526,484 | ||||||
Groupe Bruxelles Lambert SA | 5,682 | 648,487 | ||||||
KBC Group NV | 1,760 | 153,076 | ||||||
Proximus SADP | 18,028 | 559,393 | ||||||
Solvay SA | 1,118 | 155,166 | ||||||
UCB SA | 3,843 | 312,787 | ||||||
|
| |||||||
2,918,933 | ||||||||
|
|
Security Description | Shares | Value | ||||||
CHILE — 0.0% (b) | ||||||||
Antofagasta PLC | 1,193 | $ | 15,413 | |||||
|
| |||||||
DENMARK — 3.9% | ||||||||
AP Moeller - Maersk A/S Class B | 81 | 124,876 | ||||||
Carlsberg A/S Class B | 1,198 | 142,474 | ||||||
Chr Hansen Holding A/S | 8,004 | 688,030 | ||||||
Coloplast A/S Class B | 8,249 | 694,936 | ||||||
Danske Bank A/S | 30,390 | 1,130,180 | ||||||
DONG Energy A/S (c) | 12,361 | 799,471 | ||||||
DSV A/S | 8,293 | 648,975 | ||||||
Genmab A/S (d) | 945 | 202,381 | ||||||
H Lundbeck A/S | 6,077 | 338,697 | ||||||
ISS A/S | 9,858 | 363,683 | ||||||
Novo Nordisk A/S Class B | 61,488 | 3,018,146 | ||||||
Novozymes A/S Class B | 6,249 | 322,095 | ||||||
Pandora A/S | 2,887 | 309,520 | ||||||
TDC A/S (d) | 33,355 | 275,826 | ||||||
Tryg A/S | 14,994 | 347,582 | ||||||
William Demant Holding A/S (d) | 18,193 | 672,981 | ||||||
|
| |||||||
10,079,853 | ||||||||
|
| |||||||
FINLAND — 1.3% | ||||||||
Elisa Oyj (a) | 10,822 | 489,388 | ||||||
Fortum Oyj (a) | 7,287 | 156,385 | ||||||
Kone Oyj Class B | 9,459 | 471,492 | ||||||
Neste Oyj (a) | 2,642 | 183,908 | ||||||
Nokia Oyj | 20,520 | 113,186 | ||||||
Nokian Renkaat Oyj | 2,880 | 130,699 | ||||||
Orion Oyj Class B | 7,444 | 227,685 | ||||||
Sampo Oyj Class A | 19,381 | 1,078,805 | ||||||
UPM-Kymmene Oyj | 4,096 | 151,628 | ||||||
Wartsila Oyj Abp | 11,052 | 243,982 | ||||||
|
| |||||||
3,247,158 | ||||||||
|
| |||||||
FRANCE — 7.6% | ||||||||
Aeroports de Paris | 3,367 | 732,940 | ||||||
Air Liquide SA | 7,444 | 910,740 | ||||||
Airbus SE | 4,378 | 505,046 | ||||||
Atos SE | 1,040 | 142,102 | ||||||
AXA SA | 19,872 | 527,895 | ||||||
BNP Paribas SA | 13,231 | 979,095 | ||||||
Bureau Veritas SA | 6,007 | 155,955 | ||||||
Capgemini SE | 1,198 | 149,104 | ||||||
Carrefour SA (a) | 5,771 | 119,592 | ||||||
Casino Guichard Perrachon SA (a) | 2,076 | 101,642 | ||||||
Cie de Saint-Gobain | 4,164 | 219,490 | ||||||
Cie Generale des Etablissements Michelin SCA | 4,004 | 590,426 | ||||||
Credit Agricole SA | 23,002 | 373,557 | ||||||
Danone SA | 6,094 | 492,627 | ||||||
Dassault Systemes SE | 6,354 | 862,718 | ||||||
Engie SA | 15,389 | 256,544 | ||||||
Essilor International Cie Generale d’Optique SA | 4,568 | 615,728 | ||||||
Eutelsat Communications SA | 4,306 | 85,261 | ||||||
Hermes International | 1,141 | 675,669 | ||||||
Iliad SA | 640 | 132,234 | ||||||
Kering SA | 561 | 268,251 | ||||||
Legrand SA | 5,290 | 414,426 |
See accompanying notes to financial statements.
59
Table of Contents
SPDR MSCI EAFE STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
L’Oreal SA | 7,997 | $ | 1,803,268 | |||||
LVMH Moet Hennessy Louis Vuitton SE | 5,844 | 1,798,249 | ||||||
Orange SA | 12,991 | 220,243 | ||||||
Pernod Ricard SA | 878 | 146,044 | ||||||
Publicis Groupe SA | 3,115 | 216,757 | ||||||
Renault SA | 1,920 | 232,589 | ||||||
Safran SA | 1,598 | 168,977 | ||||||
Sanofi | 8,444 | 678,443 | ||||||
Schneider Electric SE | 3,047 | 267,336 | ||||||
SCOR SE | 13,584 | 555,651 | ||||||
SEB SA | 961 | 183,429 | ||||||
Societe BIC SA | 721 | 71,692 | ||||||
Societe Generale SA | 11,534 | 626,414 | ||||||
Sodexo SA | 3,845 | 387,287 | ||||||
Thales SA | 5,848 | 711,593 | ||||||
TOTAL SA | 21,329 | 1,210,058 | ||||||
Unibail-Rodamco SE REIT (a) | 456 | 104,115 | ||||||
Unibail-Rodamco SE REIT | 24 | 5,480 | ||||||
Valeo SA | 5,446 | 359,268 | ||||||
Vinci SA | 2,967 | 291,552 | ||||||
Vivendi SA | 8,304 | 214,466 | ||||||
|
| |||||||
19,563,953 | ||||||||
|
| |||||||
GERMANY — 8.7% | ||||||||
adidas AG | 4,003 | 968,126 | ||||||
Allianz SE | 3,207 | 723,354 | ||||||
BASF SE | 19,872 | 2,015,533 | ||||||
Bayer AG | 18,620 | 2,101,974 | ||||||
Bayerische Motoren Werke AG | 2,807 | 304,311 | ||||||
Beiersdorf AG | 6,510 | 736,742 | ||||||
Commerzbank AG (d) | 21,979 | 285,014 | ||||||
Continental AG | 2,880 | 794,464 | ||||||
Covestro AG (c) | 2,098 | 206,057 | ||||||
Daimler AG | 10,896 | 924,229 | ||||||
Deutsche Bank AG | 23,496 | 327,283 | ||||||
Deutsche Boerse AG | 2,132 | 289,998 | ||||||
Deutsche Lufthansa AG | 6,568 | 209,534 | ||||||
Deutsche Post AG | 22,124 | 966,471 | ||||||
Deutsche Telekom AG | 17,709 | 288,577 | ||||||
E.ON SE | 26,261 | 291,320 | ||||||
Fresenius Medical Care AG & Co. KGaA | 6,567 | 670,182 | ||||||
Fresenius SE & Co. KGaA | 4,733 | 361,244 | ||||||
Fuchs Petrolub SE Preference Shares | 2,160 | 117,151 | ||||||
GEA Group AG | 3,285 | 139,584 | ||||||
Hannover Rueck SE | 1,438 | 196,129 | ||||||
HeidelbergCement AG | 1,200 | 117,741 | ||||||
Henkel AG & Co. KGaA Preference Shares | 3,507 | 460,853 | ||||||
Henkel AG & Co. KGaA | 5,446 | 685,181 | ||||||
HUGO BOSS AG | 2,000 | 174,048 | ||||||
Infineon Technologies AG | 8,249 | 220,553 | ||||||
Innogy SE (c) | 9,396 | 444,547 | ||||||
Linde AG (d) | 952 | 200,327 | ||||||
MAN SE | 4,163 | 485,107 | ||||||
Merck KGaA | 2,563 | 245,549 | ||||||
METRO AG | 5,183 | 91,726 |
Security Description | Shares | Value | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 3,603 | $ | 836,823 | |||||
Porsche Automobil Holding SE Preference Shares | 3,513 | 291,631 | ||||||
ProSiebenSat.1 Media SE | 4,324 | 149,858 | ||||||
RWE AG (d) | 10,825 | 267,061 | ||||||
SAP SE | 22,447 | 2,345,720 | ||||||
Siemens AG | 4,163 | 530,009 | ||||||
ThyssenKrupp AG | 6,325 | 164,833 | ||||||
TUI AG | 13,821 | 296,250 | ||||||
Uniper SE | 14,051 | 427,696 | ||||||
United Internet AG | 2,467 | 155,039 | ||||||
Volkswagen AG Preference Shares | 3,913 | 776,626 | ||||||
|
| |||||||
22,284,455 | ||||||||
|
| |||||||
HONG KONG — 5.4% | ||||||||
AIA Group, Ltd. | 240,823 | 2,037,466 | ||||||
Bank of East Asia, Ltd. | 32,471 | 129,498 | ||||||
BOC Hong Kong Holdings, Ltd. | 40,036 | 194,867 | ||||||
CK Asset Holdings, Ltd. | 38,120 | 319,840 | ||||||
CK Hutchison Holdings, Ltd. | 38,000 | 454,646 | ||||||
CK Infrastructure Holdings, Ltd. | 80,000 | 653,900 | ||||||
CLP Holdings, Ltd. | 119,500 | 1,216,576 | ||||||
Galaxy Entertainment Group, Ltd. | 48,000 | 435,763 | ||||||
Hang Seng Bank, Ltd. | 64,029 | 1,481,552 | ||||||
HK Electric Investments & HK Electric Investments, Ltd. (a) (c) | 359,040 | 347,681 | ||||||
HKT Trust & HKT, Ltd. | 400,540 | 503,718 | ||||||
Hong Kong & China Gas Co., Ltd. | 312,066 | 640,967 | ||||||
Hong Kong Exchanges & Clearing, Ltd. | 30,797 | 1,001,414 | ||||||
Jardine Matheson Holdings, Ltd. | 1,800 | 110,916 | ||||||
Jardine Strategic Holdings, Ltd. | 2,600 | 99,684 | ||||||
Li & Fung, Ltd. | 240,000 | 117,427 | ||||||
Link REIT | 40,000 | 341,475 | ||||||
MTR Corp., Ltd. | 160,167 | 861,212 | ||||||
New World Development Co., Ltd. | 165,567 | 233,743 | ||||||
PCCW, Ltd. | 400,000 | 231,388 | ||||||
Power Assets Holdings, Ltd. | 80,000 | 713,021 | ||||||
Sands China, Ltd. | 64,000 | 344,125 | ||||||
Sun Hung Kai Properties, Ltd. | 10,000 | 157,996 | ||||||
Swire Pacific, Ltd. Class A | 38,000 | 383,229 | ||||||
Techtronic Industries Co., Ltd. | 40,000 | 233,172 | ||||||
WH Group, Ltd. (c) | 226,000 | 240,735 | ||||||
Yue Yuen Industrial Holdings, Ltd. | 80,500 | 319,505 | ||||||
|
| |||||||
13,805,516 | ||||||||
|
| |||||||
IRELAND — 0.7% | ||||||||
CRH PLC | 4,095 | 138,849 | ||||||
Kerry Group PLC Class A | 10,336 | 1,047,447 | ||||||
Paddy Power Betfair PLC | 1,280 | 131,368 | ||||||
Ryanair Holdings PLC ADR (d) | 4,599 | 564,987 | ||||||
|
| |||||||
1,882,651 | ||||||||
|
| |||||||
ISRAEL — 0.9% | ||||||||
Azrieli Group, Ltd. | 3,426 | 164,037 | ||||||
Bank Hapoalim BM | 84,039 | 575,444 | ||||||
Bank Leumi Le-Israel BM | 91,550 | 550,471 |
See accompanying notes to financial statements.
60
Table of Contents
SPDR MSCI EAFE STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Bezeq The Israeli Telecommunication Corp., Ltd. | 75,569 | $ | 96,429 | |||||
Check Point Software Technologies, Ltd. (d) | 4,193 | 416,533 | ||||||
Mizrahi Tefahot Bank, Ltd. | 19,473 | 371,783 | ||||||
Teva Pharmaceutical Industries, Ltd. ADR | 600 | 10,254 | ||||||
Teva Pharmaceutical Industries, Ltd. | 12,568 | 213,211 | ||||||
|
| |||||||
2,398,162 | ||||||||
|
| |||||||
ITALY — 0.9% | ||||||||
Assicurazioni Generali SpA | 16,429 | 315,706 | ||||||
Enel SpA | 85,297 | 521,366 | ||||||
Eni SpA | 16,149 | 283,772 | ||||||
Ferrari NV | 1,174 | 140,833 | ||||||
Intesa Sanpaolo SpA | 100,846 | 366,309 | ||||||
Luxottica Group SpA | 2,960 | 183,838 | ||||||
Snam SpA | 42,407 | 194,692 | ||||||
Telecom Italia SpA/Milano | 174,517 | 145,176 | ||||||
UniCredit SpA (d) | 14,200 | 296,676 | ||||||
|
| |||||||
2,448,368 | ||||||||
|
| |||||||
JAPAN — 24.3% | ||||||||
ABC-Mart, Inc. | 6,500 | 425,388 | ||||||
Aeon Co., Ltd. | 8,000 | 141,382 | ||||||
Ajinomoto Co., Inc. | 8,100 | 146,120 | ||||||
ANA Holdings, Inc. | 14,800 | 568,203 | ||||||
Aozora Bank, Ltd. | 6,100 | 242,623 | ||||||
Asahi Group Holdings, Ltd. | 8,000 | 428,021 | ||||||
Astellas Pharma, Inc. | 87,900 | 1,335,650 | ||||||
Benesse Holdings, Inc. | 8,000 | 287,353 | ||||||
Bridgestone Corp. | 21,100 | 918,202 | ||||||
Canon, Inc. | 40,000 | 1,448,049 | ||||||
Central Japan Railway Co. | 2,300 | 435,346 | ||||||
Chubu Electric Power Co., Inc. | 8,000 | 114,114 | ||||||
Concordia Financial Group, Ltd. | 15,300 | 85,312 | ||||||
Daicel Corp. | 7,200 | 78,127 | ||||||
Dai-ichi Life Holdings, Inc. | 15,408 | 281,792 | ||||||
Daiichi Sankyo Co., Ltd. | 15,906 | 528,704 | ||||||
Daito Trust Construction Co., Ltd. | 5,100 | 863,667 | ||||||
Daiwa House Industry Co., Ltd. | 8,100 | 307,701 | ||||||
Daiwa House REIT Investment Corp. | 31 | 74,738 | ||||||
Denso Corp. | 7,000 | 380,574 | ||||||
Disco Corp. | 500 | 104,937 | ||||||
East Japan Railway Co. | 8,000 | 742,605 | ||||||
Eisai Co., Ltd. | 7,000 | 446,657 | ||||||
FamilyMart UNY Holdings Co., Ltd. | 7,000 | 579,878 | ||||||
Fujitsu, Ltd. | 13,000 | 78,110 | ||||||
Hitachi, Ltd. | 74,000 | 530,977 | ||||||
Honda Motor Co., Ltd. | 17,300 | 592,283 | ||||||
Hoya Corp. | 8,100 | 404,353 | ||||||
Inpex Corp. | 7,800 | 95,089 | ||||||
Isuzu Motors, Ltd. | 9,800 | 148,267 | ||||||
ITOCHU Corp. (a) | 22,514 | 434,297 | ||||||
Japan Airlines Co., Ltd. | 16,000 | 645,266 | ||||||
Japan Exchange Group, Inc. | 16,006 | 295,738 | ||||||
Japan Post Bank Co., Ltd. (a) | 15,700 | 211,548 |
Security Description | Shares | Value | ||||||
Japan Post Holdings Co., Ltd. | 12,300 | $ | 148,618 | |||||
Japan Prime Realty Investment Corp. REIT | 80 | 289,610 | ||||||
Japan Real Estate Investment Corp. REIT | 75 | 388,575 | ||||||
Japan Retail Fund Investment Corp. REIT | 240 | 464,880 | ||||||
Japan Tobacco, Inc. | 29,400 | 839,013 | ||||||
JFE Holdings, Inc. | 9,500 | 189,151 | ||||||
JXTG Holdings, Inc. | 54,882 | 329,034 | ||||||
Kajima Corp. | 72,000 | 668,209 | ||||||
Kakaku.com, Inc. | 8,000 | 139,238 | ||||||
Kansai Electric Power Co., Inc. | 8,400 | 108,920 | ||||||
Kao Corp. | 16,000 | 1,193,343 | ||||||
KDDI Corp. | 55,818 | 1,419,987 | ||||||
Keikyu Corp. (a) | 22,300 | 388,966 | ||||||
Keyence Corp. | 1,800 | 1,108,604 | ||||||
Kirin Holdings Co., Ltd. | 26,100 | 690,478 | ||||||
Koito Manufacturing Co., Ltd. (a) | 1,600 | 110,277 | ||||||
Komatsu, Ltd. | 8,000 | 263,658 | ||||||
Konami Holdings Corp. | 1,600 | 80,038 | ||||||
Kubota Corp. | 8,000 | 138,787 | ||||||
Kyowa Hakko Kirin Co., Ltd. | 8,000 | 172,036 | ||||||
Kyushu Railway Co. (a) | 14,719 | 456,725 | ||||||
Lawson, Inc. (a) | 6,300 | 428,886 | ||||||
M3, Inc. (a) | 7,600 | 344,448 | ||||||
Marubeni Corp. | 55,800 | 402,274 | ||||||
Mazda Motor Corp. (a) | 8,000 | 106,027 | ||||||
McDonald’s Holdings Co. Japan, Ltd. | 8,000 | 376,869 | ||||||
MEIJI Holdings Co., Ltd. | 7,000 | 535,120 | ||||||
MISUMI Group, Inc. (a) | 6,300 | 171,495 | ||||||
Mitsubishi Chemical Holdings Corp. | 24,000 | 230,183 | ||||||
Mitsubishi Corp. | 16,500 | 438,371 | ||||||
Mitsubishi Electric Corp. | 8,100 | 129,440 | ||||||
Mitsubishi Heavy Industries, Ltd. (a) | 4,300 | 164,116 | ||||||
Mitsubishi Tanabe Pharma Corp. | 24,113 | 484,301 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 175,700 | 1,150,352 | ||||||
Mitsui & Co., Ltd. | 24,300 | 413,568 | ||||||
Mizuho Financial Group, Inc. (a) | 600,800 | 1,081,835 | ||||||
MS&AD Insurance Group Holdings, Inc. | 8,000 | 246,432 | ||||||
Murata Manufacturing Co., Ltd. | 1,500 | 204,372 | ||||||
Nagoya Railroad Co., Ltd. | 14,600 | 369,839 | ||||||
NH Foods, Ltd. | 4,500 | 183,850 | ||||||
Nippon Building Fund, Inc. REIT | 53 | 293,032 | ||||||
Nippon Prologis REIT, Inc. | 161 | 348,341 | ||||||
Nippon Steel & Sumitomo Metal Corp. | 10,200 | 221,360 | ||||||
Nippon Telegraph & Telephone Corp. | 32,000 | 1,474,979 | ||||||
Nippon Yusen KK | 3,600 | 69,766 | ||||||
Nissan Motor Co., Ltd. (a) | 24,016 | 247,160 | ||||||
Nissin Foods Holdings Co., Ltd. | 8,000 | 552,139 | ||||||
Nitori Holdings Co., Ltd. | 5,400 | 938,590 | ||||||
Nitto Denko Corp. | 5,700 | 424,056 |
See accompanying notes to financial statements.
61
Table of Contents
SPDR MSCI EAFE STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Nomura Holdings, Inc. | 32,800 | $ | 188,504 | |||||
Nomura Real Estate Master Fund, Inc. | 399 | 554,135 | ||||||
Nomura Research Institute, Ltd. | 4,700 | 218,980 | ||||||
NTT DOCOMO, Inc. | 66,322 | 1,677,226 | ||||||
Obayashi Corp. | 16,900 | 183,699 | ||||||
Oracle Corp. Japan | 7,100 | 580,150 | ||||||
Oriental Land Co., Ltd. | 9,900 | 1,004,429 | ||||||
ORIX Corp. | 14,600 | 257,885 | ||||||
Osaka Gas Co., Ltd. (a) | 14,800 | 291,825 | ||||||
Otsuka Corp. | 14,600 | 735,834 | ||||||
Otsuka Holdings Co., Ltd. | 15,900 | 791,337 | ||||||
Panasonic Corp. | 16,900 | 238,920 | ||||||
Park24 Co., Ltd. (a) | 8,000 | 216,794 | ||||||
Recruit Holdings Co., Ltd. | 48,905 | 1,206,645 | ||||||
Resona Holdings, Inc. | 40,500 | 215,124 | ||||||
Ricoh Co., Ltd. (a) | 8,700 | 84,832 | ||||||
Ryohin Keikaku Co., Ltd. | 600 | 198,590 | ||||||
Sankyo Co., Ltd. | 8,000 | 278,326 | ||||||
Santen Pharmaceutical Co., Ltd. | 16,000 | 264,786 | ||||||
Secom Co., Ltd. | 8,000 | 588,999 | ||||||
Sekisui House, Ltd. | 8,000 | 145,331 | ||||||
Seven & i Holdings Co., Ltd. | 7,900 | 336,651 | ||||||
Shimamura Co., Ltd. | 1,300 | 161,110 | ||||||
Shimano, Inc. | 800 | 114,716 | ||||||
Shionogi & Co., Ltd. (a) | 7,400 | 381,655 | ||||||
SMC Corp. | 700 | 280,329 | ||||||
SoftBank Group Corp. | 7,600 | 557,834 | ||||||
Sompo Holdings, Inc. | 2,700 | 107,670 | ||||||
Sony Corp. | 7,700 | 369,976 | ||||||
Start Today Co., Ltd. | 6,600 | 169,360 | ||||||
Subaru Corp. | 16,100 | 528,189 | ||||||
Sumitomo Corp. | 16,112 | 266,488 | ||||||
Sumitomo Electric Industries, Ltd. | 8,100 | 122,357 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 22,900 | 958,419 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 6,700 | 271,087 | ||||||
Suntory Beverage & Food, Ltd. | 15,787 | 764,486 | ||||||
Suzuki Motor Corp. (a) | 1,100 | 58,987 | ||||||
Sysmex Corp. | 7,000 | 627,927 | ||||||
T&D Holdings, Inc. | 6,900 | 108,577 | ||||||
Taisei Corp. | 7,000 | 354,114 | ||||||
Taisho Pharmaceutical Holdings Co., Ltd. | 7,200 | 707,475 | ||||||
Takeda Pharmaceutical Co., Ltd. | 22,800 | 1,097,659 | ||||||
Terumo Corp. | 7,900 | 407,071 | ||||||
Tobu Railway Co., Ltd. | 14,000 | 423,883 | ||||||
Tohoku Electric Power Co., Inc. (a) | 8,000 | 107,945 | ||||||
Tokio Marine Holdings, Inc. | 7,800 | 350,065 | ||||||
Tokyo Electric Power Co. Holdings, Inc. (d) | 63,000 | 244,654 | ||||||
Tokyo Gas Co., Ltd. | 10,708 | 283,734 | ||||||
Toray Industries, Inc. | 71,500 | 672,981 | ||||||
Toshiba Corp. (d) | 29,000 | 83,441 | ||||||
Tosoh Corp. | 5,300 | 102,910 | ||||||
Toyo Suisan Kaisha, Ltd. | 15,900 | 624,936 | ||||||
Toyota Motor Corp. | 30,800 | 1,981,510 |
Security Description | Shares | Value | ||||||
Toyota Tsusho Corp. | 7,100 | $ | 236,667 | |||||
Trend Micro, Inc. | 1,500 | 87,024 | ||||||
Tsuruha Holdings, Inc. | 800 | 114,264 | ||||||
Unicharm Corp. | 7,606 | 218,060 | ||||||
United Urban Investment Corp. REIT | 320 | 500,085 | ||||||
USS Co., Ltd. | 16,000 | 324,062 | ||||||
West Japan Railway Co. | 7,100 | 499,036 | ||||||
Yahoo! Japan Corp. (a) | 32,000 | 148,641 | ||||||
Yamada Denki Co., Ltd. (a) | 58,900 | 355,006 | ||||||
Yamato Holdings Co., Ltd. (a) | 12,200 | 303,939 | ||||||
|
| |||||||
62,357,750 | ||||||||
|
| |||||||
LUXEMBOURG — 0.3% | ||||||||
ArcelorMittal (d) | 7,128 | 225,296 | ||||||
RTL Group SA | 4,731 | 392,453 | ||||||
SES SA (a) | 7,275 | 98,284 | ||||||
|
| |||||||
716,033 | ||||||||
|
| |||||||
MEXICO — 0.0% (b) | ||||||||
Fresnillo PLC | 539 | 9,591 | ||||||
|
| |||||||
NETHERLANDS — 2.6% | ||||||||
Aegon NV | 30,076 | 202,552 | ||||||
Akzo Nobel NV | 1,779 | 167,900 | ||||||
ASML Holding NV | 9,590 | 1,888,851 | ||||||
Boskalis Westminster | 3,036 | 88,865 | ||||||
EXOR NV | 2,887 | 204,939 | ||||||
Heineken NV | 1,278 | 137,214 | ||||||
ING Groep NV | 27,979 | 471,417 | ||||||
Koninklijke Ahold Delhaize NV | 14,062 | 332,774 | ||||||
Koninklijke DSM NV | 2,214 | 219,574 | ||||||
Koninklijke KPN NV | 29,749 | 89,162 | ||||||
Koninklijke Philips NV | 5,714 | 219,008 | ||||||
NN Group NV | 11,869 | 526,079 | ||||||
Randstad Holding NV (a) | 2,068 | 135,865 | ||||||
Royal Dutch Shell PLC Class A | 37,693 | 1,180,980 | ||||||
Royal Dutch Shell PLC Class B | 23,123 | 738,589 | ||||||
Wolters Kluwer NV | 3,285 | 174,490 | ||||||
|
| |||||||
6,778,259 | ||||||||
|
| |||||||
NEW ZEALAND — 0.2% | ||||||||
Auckland International Airport, Ltd. | 35,176 | 155,301 | ||||||
Meridian Energy, Ltd. | 61,808 | 127,300 | ||||||
Ryman Healthcare, Ltd. | 18,754 | 143,273 | ||||||
Spark New Zealand, Ltd. | 94,415 | 227,491 | ||||||
|
| |||||||
653,365 | ||||||||
|
| |||||||
NORWAY — 0.4% | ||||||||
DNB ASA | 11,136 | 215,814 | ||||||
Gjensidige Forsikring ASA | 5,450 | 99,685 | ||||||
Statoil ASA | 14,471 | 340,350 | ||||||
Telenor ASA | 9,697 | 218,619 | ||||||
Yara International ASA | 2,476 | 104,421 | ||||||
|
| |||||||
978,889 | ||||||||
|
| |||||||
PORTUGAL — 0.1% | ||||||||
EDP - Energias de Portugal SA | 31,675 | 120,295 | ||||||
Jeronimo Martins SGPS SA | 6,807 | 123,941 | ||||||
|
| |||||||
244,236 | ||||||||
|
|
See accompanying notes to financial statements.
62
Table of Contents
SPDR MSCI EAFE STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SINGAPORE — 2.4% | ||||||||
ComfortDelGro Corp., Ltd. | 80,000 | $ | 125,067 | |||||
DBS Group Holdings, Ltd. | 69,703 | 1,461,780 | ||||||
Keppel Corp., Ltd. | 38,811 | 229,971 | ||||||
Oversea-Chinese Banking Corp., Ltd. | 159,602 | 1,560,358 | ||||||
SATS, Ltd. | 40,400 | 158,051 | ||||||
Singapore Airlines, Ltd. | 80,000 | 661,328 | ||||||
Singapore Press Holdings, Ltd. (a) | 80,000 | 153,741 | ||||||
Singapore Technologies Engineering, Ltd. | 80,000 | 219,019 | ||||||
Singapore Telecommunications, Ltd. | 408,400 | 1,049,575 | ||||||
StarHub, Ltd. (a) | 80,000 | 140,319 | ||||||
United Overseas Bank, Ltd. | 16,075 | 337,118 | ||||||
|
| |||||||
6,096,327 | ||||||||
|
| |||||||
SOUTH AFRICA — 0.1% | ||||||||
Investec PLC | 4,878 | 37,608 | ||||||
Mediclinic International PLC (a) | 1,618 | 13,641 | ||||||
Mondi PLC | 8,581 | 230,517 | ||||||
|
| |||||||
281,766 | ||||||||
|
| |||||||
SPAIN — 2.0% | ||||||||
ACS Actividades de Construccion y Servicios SA | 4,434 | 172,592 | ||||||
Amadeus IT Group SA | 11,776 | 868,674 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 67,622 | 534,667 | ||||||
Banco de Sabadell SA | 67,732 | 138,362 | ||||||
Banco Santander SA | 177,817 | 1,157,955 | ||||||
CaixaBank SA | 37,668 | 179,374 | ||||||
Endesa SA | 10,256 | 225,590 | ||||||
Iberdrola SA | 40,992 | 301,073 | ||||||
Industria de Diseno Textil SA | 27,329 | 854,717 | ||||||
Repsol SA | 20,964 | 371,656 | ||||||
Telefonica SA | 33,053 | 326,340 | ||||||
|
| |||||||
5,131,000 | ||||||||
|
| |||||||
SWEDEN — 2.4% | ||||||||
Alfa Laval AB | 7,033 | 165,563 | ||||||
Assa Abloy AB Class B | 20,494 | 441,335 | ||||||
Atlas Copco AB Class A | 21,959 | 947,078 | ||||||
Atlas Copco AB Class B | 4,807 | 186,258 | ||||||
Boliden AB | 5,520 | 192,793 | ||||||
Electrolux AB Class B | 4,011 | 125,721 | ||||||
Essity AB Class B (d) | 3,524 | 97,033 | ||||||
Hennes & Mauritz AB Class B (a) | 35,255 | 526,964 | ||||||
Hexagon AB Class B | 4,811 | 284,933 | ||||||
ICA Gruppen AB | 4,244 | 149,696 | ||||||
Investor AB Class B | 14,509 | 639,624 | ||||||
Kinnevik AB Class B | 7,769 | 278,670 | ||||||
L E Lundbergforetagen AB Class B | 2,727 | 194,721 | ||||||
Nordea Bank AB | 23,813 | 253,348 | ||||||
Sandvik AB | 11,137 | 202,731 | ||||||
Skandinaviska Enskilda Banken AB Class A | 12,262 | 128,026 | ||||||
Skanska AB Class B | 10,017 | 204,112 | ||||||
Svenska Handelsbanken AB Class A (a) | 11,079 | 137,846 |
Security Description | Shares | Value | ||||||
Swedbank AB Class A | 5,924 | $ | 132,276 | |||||
Swedish Match AB | 5,852 | 263,783 | ||||||
Telefonaktiebolaget LM Ericsson Class B (a) | 22,124 | 139,801 | ||||||
Telia Co. AB | 67,798 | 317,424 | ||||||
Volvo AB Class B (a) | 12,342 | 224,372 | ||||||
|
| |||||||
6,234,108 | ||||||||
|
| |||||||
SWITZERLAND — 11.5% | ||||||||
ABB, Ltd. | 48,985 | 1,162,217 | ||||||
Adecco Group AG | 4,004 | 284,327 | ||||||
Baloise Holding AG | 2,000 | 305,138 | ||||||
Barry Callebaut AG | 160 | 312,114 | ||||||
Chocoladefabriken Lindt & Spruengli AG | 160 | 989,975 | ||||||
Cie Financiere Richemont SA | 1,678 | 150,277 | ||||||
Coca-Cola HBC AG (d) | 542 | 20,027 | ||||||
Credit Suisse Group AG (d) | 26,873 | 448,725 | ||||||
EMS-Chemie Holding AG | 240 | 151,128 | ||||||
Ferguson PLC | 6,180 | 464,154 | ||||||
Geberit AG | 1,118 | 493,153 | ||||||
Givaudan SA | 399 | 906,667 | ||||||
Glencore PLC (d) | 101,127 | 501,904 | ||||||
Julius Baer Group, Ltd. (d) | 5,428 | 332,958 | ||||||
Kuehne + Nagel International AG | 6,967 | 1,093,505 | ||||||
LafargeHolcim, Ltd. (d) (e) | 1,280 | 69,908 | ||||||
LafargeHolcim, Ltd. (d) (e) | 1,520 | 82,776 | ||||||
Nestle SA | 73,910 | 5,836,544 | ||||||
Novartis AG | 25,420 | 2,050,908 | ||||||
Partners Group Holding AG | 1,041 | 771,836 | ||||||
Roche Holding AG | 22,384 | 5,121,485 | ||||||
Schindler Holding AG (e) | 1,118 | 240,505 | ||||||
Schindler Holding AG (e) | 958 | 200,084 | ||||||
SGS SA | 160 | 392,314 | ||||||
Sika AG | 78 | 609,680 | ||||||
Sonova Holding AG | 5,710 | 905,157 | ||||||
Straumann Holding AG | 147 | 92,412 | ||||||
Swatch Group AG | 480 | 211,228 | ||||||
Swiss Life Holding AG (d) | 880 | 312,723 | ||||||
Swiss Prime Site AG (d) | 7,127 | 688,065 | ||||||
Swiss Re AG | 14,669 | 1,490,184 | ||||||
Swisscom AG | 2,318 | 1,146,413 | ||||||
UBS Group AG (d) | 28,219 | 494,923 | ||||||
Vifor Pharma AG | 800 | 123,016 | ||||||
Zurich Insurance Group AG (d) | 3,040 | 994,921 | ||||||
|
| |||||||
29,451,351 | ||||||||
|
| |||||||
UNITED KINGDOM — 17.5% | ||||||||
3i Group PLC | 30,971 | 373,202 | ||||||
Admiral Group PLC | 12,210 | 315,844 | ||||||
Anglo American PLC (a) | 10,606 | 247,125 | ||||||
Ashtead Group PLC | 11,846 | 322,381 | ||||||
Associated British Foods PLC | 7,566 | 264,384 | ||||||
AstraZeneca PLC | 43,863 | 3,012,251 | ||||||
Auto Trader Group PLC (c) | 1,504 | 7,397 | ||||||
Aviva PLC | 27,589 | 191,923 | ||||||
Babcock International Group PLC | 6,874 | 64,491 | ||||||
BAE Systems PLC | 145,031 | 1,182,855 | ||||||
Barclays PLC | 243,336 | 704,891 |
See accompanying notes to financial statements.
63
Table of Contents
SPDR MSCI EAFE STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Barratt Developments PLC | 23,980 | $ | 178,422 | |||||
Berkeley Group Holdings PLC | 4,083 | 217,020 | ||||||
BP PLC | 133,491 | 897,449 | ||||||
British American Tobacco PLC | 17,862 | 1,035,097 | ||||||
British Land Co. PLC REIT | 5,739 | 51,685 | ||||||
BT Group PLC | 305,596 | 975,270 | ||||||
Bunzl PLC | 9,031 | 265,409 | ||||||
Burberry Group PLC | 11,044 | 262,753 | ||||||
Capita PLC | 5,258 | 10,625 | ||||||
Carnival PLC | 5,135 | 329,915 | ||||||
Centrica PLC | 186,054 | 371,137 | ||||||
CNH Industrial NV | 10,982 | 135,467 | ||||||
Cobham PLC (d) | 37,502 | 64,655 | ||||||
Compass Group PLC | 91,262 | 1,863,365 | ||||||
ConvaTec Group PLC (c) | 2,654 | 7,413 | ||||||
Croda International PLC | 3,542 | 226,971 | ||||||
DCC PLC | 423 | 38,926 | ||||||
Diageo PLC | 81,600 | 2,760,980 | ||||||
Direct Line Insurance Group PLC | 79,379 | 424,588 | ||||||
easyJet PLC | 1,276 | 28,720 | ||||||
Experian PLC | 22,451 | 484,224 | ||||||
Fiat Chrysler Automobiles NV | 21,641 | 439,204 | ||||||
G4S PLC | 8,924 | 31,059 | ||||||
GKN PLC | 59,171 | 384,314 | ||||||
GlaxoSmithKline PLC | 56,828 | 1,111,273 | ||||||
Hammerson PLC REIT (a) | 4,204 | 31,645 | ||||||
Hargreaves Lansdown PLC | 7,761 | 177,787 | ||||||
HSBC Holdings PLC | 205,007 | 1,913,583 | ||||||
IMI PLC | 7,717 | 116,914 | ||||||
Imperial Brands PLC | 32,542 | 1,107,467 | ||||||
InterContinental Hotels Group PLC | 302 | 18,081 | ||||||
International Consolidated Airlines Group SA | 5,319 | 45,922 | ||||||
Intertek Group PLC | 3,950 | 258,213 | ||||||
ITV PLC | 104,428 | 211,168 | ||||||
J Sainsbury PLC | 29,595 | 99,140 | ||||||
John Wood Group PLC | 1,668 | 12,635 | ||||||
Johnson Matthey PLC | 4,949 | 211,190 | ||||||
Kingfisher PLC | 88,952 | 364,987 | ||||||
Land Securities Group PLC REIT | 5,038 | 66,228 | ||||||
Legal & General Group PLC | 156,968 | 567,662 | ||||||
Lloyds Banking Group PLC | 433,592 | 393,290 | ||||||
London Stock Exchange Group PLC | 6,414 | 371,239 | ||||||
Marks & Spencer Group PLC | 47,096 | 178,511 | ||||||
Meggitt PLC | 5,098 | 30,880 | ||||||
Merlin Entertainments PLC (c) | 3,457 | 16,808 | ||||||
Micro Focus International PLC | 580 | 8,029 | ||||||
National Grid PLC | 90,980 | 1,023,822 | ||||||
Next PLC | 4,035 | 269,374 | ||||||
Old Mutual PLC | 31,251 | 104,907 | ||||||
Pearson PLC | 8,971 | 94,258 | ||||||
Persimmon PLC | 9,033 | 320,589 | ||||||
Prudential PLC | 11,486 | 286,562 | ||||||
Randgold Resources, Ltd. | 4,545 | 375,020 | ||||||
Reckitt Benckiser Group PLC | 25,672 | 2,173,005 | ||||||
RELX NV | 27,567 | 570,592 | ||||||
RELX PLC | 60,322 | 1,239,679 | ||||||
Rio Tinto PLC | 31,265 | 1,583,732 |
Security Description | Shares | Value | ||||||
Rio Tinto, Ltd. | 9,297 | $ | 518,443 | |||||
Rolls-Royce Holdings PLC (d) | 8,601 | 105,163 | ||||||
Royal Bank of Scotland Group PLC (d) | 26,670 | 96,824 | ||||||
Royal Mail PLC | 58,947 | 447,192 | ||||||
RSA Insurance Group PLC | 5,362 | 47,387 | ||||||
Sage Group PLC | 28,524 | 255,766 | ||||||
Schroders PLC | 2,912 | 130,392 | ||||||
Segro PLC REIT | 3,139 | 26,473 | ||||||
Severn Trent PLC | 2,640 | 68,291 | ||||||
Shire PLC | 3,775 | 189,078 | ||||||
Sky PLC | 22,615 | 411,623 | ||||||
Smith & Nephew PLC | 44,613 | 832,981 | ||||||
Smiths Group PLC | 8,988 | 190,828 | ||||||
SSE PLC | 44,505 | 796,627 | ||||||
St James’s Place PLC | 1,031 | 15,714 | ||||||
Standard Chartered PLC | 32,005 | 319,978 | ||||||
Standard Life Aberdeen PLC | 15,163 | 76,511 | ||||||
Taylor Wimpey PLC | 91,027 | 235,721 | ||||||
Tesco PLC | 82,137 | 237,242 | ||||||
Travis Perkins PLC | 6,094 | 105,491 | ||||||
Unilever NV | 43,559 | 2,457,304 | ||||||
Unilever PLC | 36,628 | 2,032,405 | ||||||
United Utilities Group PLC | 7,486 | 75,127 | ||||||
Vodafone Group PLC | 356,605 | 971,577 | ||||||
Weir Group PLC | 747 | 20,900 | ||||||
Whitbread PLC | 4,519 | 234,552 | ||||||
Wm Morrison Supermarkets PLC | 24,261 | 72,661 | ||||||
WPP PLC | 30,405 | 483,035 | ||||||
|
| |||||||
44,980,890 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 255,506,669 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 2.5% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (f) (g) | 228,183 | 228,183 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (f) (h) | 6,204,945 | 6,204,945 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 6,433,128 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 101.9% (Cost $245,989,867) | 261,939,797 | |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.9)% | (4,904,394 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 257,035,403 | ||||||
|
|
See accompanying notes to financial statements.
64
Table of Contents
SPDR MSCI EAFE STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Amount is less than 0.05% of net assets. |
(c) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.8% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(d) | Non-income producing security. |
(e) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(f) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(g) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(h) | Investment of cash collateral for securities loaned. |
ADR =American Depositary Receipt
REIT =Real Estate Investment Trust
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | $ | 12,762,280 | $ | — | $ | — | $ | 12,762,280 | ||||||||||||
Austria | 186,362 | — | — | 186,362 | ||||||||||||||||
Belgium | 2,918,933 | — | — | 2,918,933 | ||||||||||||||||
Chile | 15,413 | — | — | 15,413 | ||||||||||||||||
Denmark | 10,079,853 | — | — | 10,079,853 | ||||||||||||||||
Finland | 3,247,158 | — | — | 3,247,158 | ||||||||||||||||
France | 19,563,953 | — | — | 19,563,953 | ||||||||||||||||
Germany | 22,284,455 | — | — | 22,284,455 | ||||||||||||||||
Hong Kong | 13,805,516 | — | — | 13,805,516 | ||||||||||||||||
Ireland | 1,882,651 | — | — | 1,882,651 | ||||||||||||||||
Israel | 2,398,162 | — | — | 2,398,162 | ||||||||||||||||
Italy | 2,448,368 | — | — | 2,448,368 | ||||||||||||||||
Japan | 62,357,750 | — | — | 62,357,750 | ||||||||||||||||
Luxembourg | 716,033 | — | — | 716,033 | ||||||||||||||||
Mexico | 9,591 | — | — | 9,591 | ||||||||||||||||
Netherlands | 6,778,259 | — | — | 6,778,259 | ||||||||||||||||
New Zealand | 653,365 | — | — | 653,365 | ||||||||||||||||
Norway | 978,889 | — | — | 978,889 | ||||||||||||||||
Portugal | 244,236 | — | — | 244,236 | ||||||||||||||||
Singapore | 6,096,327 | — | — | 6,096,327 | ||||||||||||||||
South Africa | 281,766 | — | — | 281,766 | ||||||||||||||||
Spain | 5,131,000 | — | — | 5,131,000 | ||||||||||||||||
Sweden | 6,234,108 | — | — | 6,234,108 | ||||||||||||||||
Switzerland | 29,451,351 | — | — | 29,451,351 | ||||||||||||||||
United Kingdom | 44,980,890 | — | — | 44,980,890 | ||||||||||||||||
Short-Term Investments | 6,433,128 | — | — | 6,433,128 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 261,939,797 | $ | — | $ | — | $ | 261,939,797 | ||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
65
Table of Contents
SPDR MSCI EAFE STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 152,020 | $ | 152,020 | $ | 2,949,375 | $ | 2,873,212 | $ | — | $ | — | 228,183 | $ | 228,183 | $ | 1,651 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 666,545 | 666,545 | 21,920,591 | 16,382,191 | — | — | 6,204,945 | 6,204,945 | 15,935 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 818,565 | $ | 24,869,966 | $ | 19,255,403 | $ | — | $ | — | $ | 6,433,128 | $ | 17,586 | $ | — | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
66
Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 93.3% | ||||||||
BRAZIL — 7.1% | ||||||||
Ambev SA | 26,285 | $ | 190,360 | |||||
B3 SA - Brasil Bolsa Balcao | 11,600 | 93,153 | ||||||
Banco Bradesco SA Preference Shares | 20,809 | 247,309 | ||||||
Banco do Brasil SA | 4,904 | 60,540 | ||||||
BB Seguridade Participacoes SA | 4,205 | 37,032 | ||||||
BRF SA (a) | 4,205 | 28,884 | ||||||
CCR SA | 5,593 | 21,035 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo | 3,502 | 36,879 | ||||||
Cielo SA | 7,001 | 43,583 | ||||||
Embraer SA | 7,005 | 45,420 | ||||||
Equatorial Energia SA | 2,103 | 45,241 | ||||||
Itau Unibanco Holding SA Preference Shares | 16,113 | 248,754 | ||||||
Itausa - Investimentos Itau SA Preference Shares | 25,365 | 105,242 | ||||||
Itausa - Investimentos Itau SA (b) | 3 | 13 | ||||||
Itausa - Investimentos Itau SA (a) (b) | 596 | 2,473 | ||||||
Kroton Educacional SA | 8,406 | 34,397 | ||||||
Lojas Americanas SA Preference Shares | 5,805 | 32,906 | ||||||
Lojas Renner SA | 5,754 | 59,469 | ||||||
Raia Drogasil SA | 1,401 | 31,531 | ||||||
Telefonica Brasil SA Preference Shares | 3,502 | 53,105 | ||||||
Ultrapar Participacoes SA | 2,103 | 44,874 | ||||||
Vale SA | 17,801 | 226,074 | ||||||
WEG SA | 6,305 | 42,892 | ||||||
|
| |||||||
1,731,166 | ||||||||
|
| |||||||
CHILE — 1.2% | ||||||||
Banco Santander Chile | 817,790 | 68,939 | ||||||
Cencosud SA | 11,469 | 35,116 | ||||||
Empresas CMPC SA | 19,401 | 73,909 | ||||||
Enel Americas SA | 209,900 | 49,028 | ||||||
SACI Falabella | 6,901 | 66,582 | ||||||
|
| |||||||
293,574 | ||||||||
|
| |||||||
CHINA — 30.2% | ||||||||
58.com, Inc. ADR (a) | 780 | 62,291 | ||||||
AAC Technologies Holdings, Inc. | 2,000 | 36,084 | ||||||
Agricultural Bank of China, Ltd. Class H | 85,000 | 48,303 | ||||||
Alibaba Group Holding, Ltd. ADR (a) (c) | 5,590 | 1,025,989 | ||||||
Anhui Conch Cement Co., Ltd. Class H | 14,000 | 76,259 | ||||||
Baidu, Inc. ADR (a) | 1,403 | 313,136 | ||||||
Bank of China, Ltd. Class H | 370,000 | 198,948 | ||||||
Bank of Communications Co., Ltd. Class H | 50,000 | 39,180 | ||||||
Beijing Enterprises Holdings, Ltd. | 7,000 | 36,568 | ||||||
Beijing Enterprises Water Group, Ltd. | 56,000 | 31,253 | ||||||
Brilliance China Automotive Holdings, Ltd. | 28,000 | 58,438 |
Security Description | Shares | Value | ||||||
Byd Co., Ltd. Class H | 7,000 | $ | 54,585 | |||||
CGN Power Co., Ltd. Class H (d) | 120,000 | 31,039 | ||||||
China Cinda Asset Management Co., Ltd. Class H | 99,000 | 35,950 | ||||||
China CITIC Bank Corp., Ltd. Class H | 57,000 | 38,928 | ||||||
China Communications Construction Co., Ltd. Class H | 35,000 | 35,944 | ||||||
China Conch Venture Holdings, Ltd. | 17,500 | 53,403 | ||||||
China Construction Bank Corp. Class H | 404,000 | 414,897 | ||||||
China Everbright International, Ltd. | 28,000 | 39,244 | ||||||
China Evergrande Group (a) | 24,000 | 75,532 | ||||||
China Galaxy Securities Co., Ltd. Class H | 39,000 | 25,939 | ||||||
China Life Insurance Co., Ltd. Class H | 35,000 | 96,327 | ||||||
China Longyuan Power Group Corp., Ltd. Class H | 43,000 | 32,983 | ||||||
China Mengniu Dairy Co., Ltd. | 21,000 | 71,977 | ||||||
China Merchants Bank Co., Ltd. Class H | 14,000 | 57,350 | ||||||
China Merchants Port Holdings Co., Ltd. | 14,981 | 33,023 | ||||||
China Minsheng Banking Corp., Ltd. Class H | 32,000 | 31,110 | ||||||
China Mobile, Ltd. | 32,000 | 293,363 | ||||||
China Overseas Land & Investment, Ltd. | 14,000 | 48,609 | ||||||
China Pacific Insurance Group Co., Ltd. Class H | 10,000 | 44,787 | ||||||
China Railway Group, Ltd. Class H | 50,000 | 34,657 | ||||||
China Resources Beer Holdings Co., Ltd. | 14,000 | 60,650 | ||||||
China Resources Gas Group, Ltd. | 14,000 | 48,609 | ||||||
China Resources Land, Ltd. | 14,000 | 50,928 | ||||||
China Taiping Insurance Holdings Co., Ltd. | 17,000 | 56,210 | ||||||
China Telecom Corp., Ltd. Class H | 70,000 | 30,860 | ||||||
China Unicom Hong Kong, Ltd. (a) | 28,000 | 35,320 | ||||||
China Vanke Co., Ltd. Class H | 14,200 | 64,773 | ||||||
CITIC Securities Co., Ltd. Class H | 17,500 | 40,047 | ||||||
CITIC, Ltd. | 21,000 | 29,380 | ||||||
Country Garden Holdings Co., Ltd. | 65,000 | 133,838 | ||||||
CRRC Corp., Ltd. Class H | 35,000 | 29,834 | ||||||
CSPC Pharmaceutical Group, Ltd. | 28,000 | 74,386 | ||||||
Ctrip.com International, Ltd. ADR (a) | 1,970 | 91,841 | ||||||
Fosun International, Ltd. | 25,000 | 54,152 | ||||||
Geely Automobile Holdings, Ltd. | 35,000 | 100,786 | ||||||
Great Wall Motor Co., Ltd. Class H (c) | 32,000 | 32,088 | ||||||
Guangdong Investment, Ltd. | 28,000 | 44,025 | ||||||
Haitong Securities Co., Ltd. Class H | 20,000 | 26,452 | ||||||
Hengan International Group Co., Ltd. | 3,500 | 32,421 | ||||||
Huaneng Power International, Inc. Class H | 56,000 | 37,603 |
See accompanying notes to financial statements.
67
Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Huatai Securities Co., Ltd. Class H (d) | 17,000 | $ | 32,708 | |||||
Industrial & Commercial Bank of China, Ltd. Class H | 348,000 | 298,414 | ||||||
JD.com, Inc. ADR (a) (c) | 3,618 | 146,493 | ||||||
Lenovo Group, Ltd. (c) | 56,000 | 28,613 | ||||||
NetEase, Inc. ADR | 397 | 111,315 | ||||||
New China Life Insurance Co., Ltd. Class H | 7,800 | 36,325 | ||||||
New Oriental Education & Technology Group, Inc. ADR | 751 | 65,825 | ||||||
PICC Property & Casualty Co., Ltd. Class H | 28,000 | 49,020 | ||||||
Ping An Insurance Group Co. of China, Ltd. Class H | 21,500 | 218,608 | ||||||
Semiconductor Manufacturing International Corp. (a) (c) | 28,700 | 37,519 | ||||||
Shenzhou International Group Holdings, Ltd. | 7,000 | 73,717 | ||||||
Sinopharm Group Co., Ltd. Class H | 8,400 | 42,063 | ||||||
TAL Education Group ADR | 2,937 | 108,933 | ||||||
Tencent Holdings, Ltd. | 28,100 | 1,466,529 | ||||||
Vipshop Holdings, Ltd. ADR (a) | 2,475 | 41,134 | ||||||
Want Want China Holdings, Ltd. | 57,000 | 45,682 | ||||||
Zhuzhou CRRC Times Electric Co., Ltd. Class H | 7,100 | 34,377 | ||||||
|
| |||||||
7,387,574 | ||||||||
|
| |||||||
COLOMBIA — 0.5% | ||||||||
Bancolombia SA Preference Shares | 6,026 | 63,170 | ||||||
Grupo Argos SA | 6,542 | 44,080 | ||||||
Grupo de Inversiones Suramericana SA Preference Shares | 10 | 128 | ||||||
Grupo de Inversiones Suramericana SA | 756 | 10,091 | ||||||
|
| |||||||
117,469 | ||||||||
|
| |||||||
EGYPT — 0.1% | ||||||||
Commercial International Bank Egypt SAE | 6,167 | 31,136 | ||||||
|
| |||||||
GREECE — 0.1% | ||||||||
Piraeus Bank SA (a) | 9,963 | 31,490 | ||||||
|
| |||||||
HONG KONG — 0.5% | ||||||||
Sino Biopharmaceutical, Ltd. | 57,000 | 111,846 | ||||||
|
| |||||||
HUNGARY — 0.4% | ||||||||
OTP Bank PLC | 1,552 | 69,824 | ||||||
Richter Gedeon Nyrt | 1,702 | 35,571 | ||||||
|
| |||||||
105,395 | ||||||||
|
| |||||||
INDONESIA — 2.3% | ||||||||
Astra International Tbk PT | 112,100 | 59,439 | ||||||
Bank Central Asia Tbk PT | 66,600 | 112,713 | ||||||
Bank Mandiri Persero Tbk PT | 105,000 | 58,535 | ||||||
Bank Negara Indonesia Persero Tbk PT | 84,300 | 53,118 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 315,400 | 82,473 | ||||||
Indofood Sukses Makmur Tbk PT | 52,500 | 27,456 | ||||||
Kalbe Farma Tbk PT | 263,100 | 28,665 |
Security Description | Shares | Value | ||||||
Matahari Department Store Tbk PT | 24,800 | $ | 19,725 | |||||
Telekomunikasi Indonesia Persero Tbk PT | 282,900 | 73,974 | ||||||
Unilever Indonesia Tbk PT | 10,600 | 38,131 | ||||||
|
| |||||||
554,229 | ||||||||
|
| |||||||
MALAYSIA — 2.5% | ||||||||
CIMB Group Holdings Bhd | 31,829 | 58,918 | ||||||
DiGi.Com Bhd | 29,500 | 35,311 | ||||||
Genting Bhd | 19,100 | 42,960 | ||||||
Genting Malaysia Bhd | 31,500 | 39,497 | ||||||
IHH Healthcare Bhd | 23,400 | 36,298 | ||||||
IJM Corp. Bhd | 44,700 | 31,087 | ||||||
IOI Corp. Bhd | 33,000 | 40,781 | ||||||
Malayan Banking Bhd | 17,231 | 46,864 | ||||||
Maxis Bhd | 24,800 | 36,418 | ||||||
Petronas Chemicals Group Bhd | 22,000 | 46,355 | ||||||
Petronas Gas Bhd | 7,100 | 32,710 | ||||||
Public Bank Bhd | 12,000 | 74,457 | ||||||
Sime Darby Bhd | 20,055 | 13,584 | ||||||
Tenaga Nasional Bhd | 17,700 | 73,948 | ||||||
|
| |||||||
609,188 | ||||||||
|
| |||||||
MEXICO — 3.3% | ||||||||
Alfa SAB de CV Class A | 21,738 | 27,736 | ||||||
America Movil SAB de CV Series L | 161,981 | 153,076 | ||||||
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand Class B (c) | 19,632 | 28,125 | ||||||
Cemex SAB de CV Series CPO (a) | 75,117 | 49,506 | ||||||
Coca-Cola Femsa SAB de CV Series L | 4,207 | 27,710 | ||||||
Fibra Uno Administracion SA de CV REIT | 18,646 | 27,949 | ||||||
Fomento Economico Mexicano SAB de CV | 9,114 | 82,794 | ||||||
Grupo Aeroportuario del Pacifico SAB de CV Class B | 3,505 | 34,492 | ||||||
Grupo Bimbo SAB de CV Series A | 12,622 | 27,507 | ||||||
Grupo Financiero Banorte SAB de CV Series O | 11,219 | 68,303 | ||||||
Grupo Financiero Inbursa SAB de CV Series O | 21,738 | 35,834 | ||||||
Grupo Mexico SAB de CV Series B | 21,738 | 72,109 | ||||||
Grupo Televisa SAB Series CPO | 12,622 | 39,989 | ||||||
Industrias Penoles SAB de CV | 1,510 | 30,381 | ||||||
Kimberly-Clark de Mexico SAB de CV Class A (c) | 15,427 | 28,769 | ||||||
Promotora y Operadora de Infraestructura SAB de CV | 2,804 | 27,764 | ||||||
Wal-Mart de Mexico SAB de CV | 21,892 | 55,481 | ||||||
|
| |||||||
817,525 | ||||||||
|
| |||||||
PERU — 0.7% | ||||||||
Credicorp, Ltd. | 702 | 159,382 | ||||||
|
| |||||||
PHILIPPINES — 1.2% | ||||||||
Aboitiz Equity Ventures, Inc. | 22,500 | 29,107 | ||||||
Ayala Corp. | 2,050 | 37,246 |
See accompanying notes to financial statements.
68
Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Ayala Land, Inc. | 46,800 | $ | 36,864 | |||||
BDO Unibank, Inc. | 16,875 | 44,955 | ||||||
JG Summit Holdings, Inc. | 23,830 | 28,636 | ||||||
SM Investments Corp. | 2,550 | 44,815 | ||||||
SM Prime Holdings, Inc. | 65,200 | 42,111 | ||||||
Universal Robina Corp. | 9,680 | 28,199 | ||||||
|
| |||||||
291,933 | ||||||||
|
| |||||||
POLAND — 1.0% | ||||||||
Bank Pekao SA | 1,219 | 43,880 | ||||||
KGHM Polska Miedz SA | 2,532 | 64,178 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA (a) | 5,980 | 70,601 | ||||||
Powszechny Zaklad Ubezpieczen SA | 5,420 | 66,063 | ||||||
|
| |||||||
244,722 | ||||||||
|
| |||||||
QATAR — 0.6% | ||||||||
Ezdan Holding Group QSC | 6,252 | 18,025 | ||||||
Industries Qatar QSC | 1,184 | 34,167 | ||||||
Masraf Al Rayan QSC | 3,642 | 35,340 | ||||||
Qatar Insurance Co. SAQ | 1,923 | 19,800 | ||||||
Qatar National Bank QPSC | 1,134 | 40,478 | ||||||
|
| |||||||
147,810 | ||||||||
|
| |||||||
RUSSIA — 1.5% | ||||||||
Magnit PJSC GDR | 1,517 | 27,966 | ||||||
Mobile TeleSystems PJSC ADR | 4,910 | 55,925 | ||||||
Sberbank of Russia PJSC ADR | 13,325 | 248,245 | ||||||
VTB Bank PJSC GDR | 16,374 | 32,060 | ||||||
|
| |||||||
364,196 | ||||||||
|
| |||||||
SOUTH AFRICA — 7.0% | ||||||||
AngloGold Ashanti, Ltd. | 2,430 | 23,076 | ||||||
Aspen Pharmacare Holdings, Ltd. | 1,830 | 40,073 | ||||||
Barclays Africa Group, Ltd. | 3,375 | 54,034 | ||||||
Bid Corp., Ltd. | 1,999 | 43,485 | ||||||
Bidvest Group, Ltd. | 3,035 | 57,402 | ||||||
Discovery, Ltd. | 4,537 | 65,286 | ||||||
FirstRand, Ltd. (c) | 16,009 | 90,389 | ||||||
Fortress REIT, Ltd. Class B, (c) | 15,778 | 15,846 | ||||||
Gold Fields, Ltd. | 6,300 | 25,511 | ||||||
Growthpoint Properties, Ltd. REIT (c) | 20,878 | 50,060 | ||||||
Life Healthcare Group Holdings, Ltd. | 15,553 | 36,242 | ||||||
MTN Group, Ltd. | 8,575 | 86,135 | ||||||
Naspers, Ltd. Class N | 2,159 | 526,932 | ||||||
Nedbank Group, Ltd. (c) | 2,326 | 56,054 | ||||||
Redefine Properties, Ltd. REIT | 46,443 | 45,429 | ||||||
Remgro, Ltd. | 2,567 | 48,096 | ||||||
Sanlam, Ltd. (c) | 7,888 | 56,786 | ||||||
Sappi, Ltd. | 6,417 | 41,268 | ||||||
Shoprite Holdings, Ltd. | 2,659 | 56,682 | ||||||
SPAR Group, Ltd. | 2,574 | 44,004 | ||||||
Standard Bank Group, Ltd. (c) | 6,242 | 115,202 | ||||||
Steinhoff International Holdings NV | 15,595 | 4,343 | ||||||
Tiger Brands, Ltd. | 1,333 | 41,851 | ||||||
Vodacom Group, Ltd. | 3,382 | 43,691 |
Security Description | Shares | Value | ||||||
Woolworths Holdings, Ltd. | 6,520 | $ | 33,016 | |||||
|
| |||||||
1,700,893 | ||||||||
|
| |||||||
SOUTH KOREA — 16.1% | ||||||||
Amorepacific Corp. | 191 | 55,012 | ||||||
AMOREPACIFIC Group | 255 | 32,775 | ||||||
Celltrion, Inc. (a) | 470 | 139,779 | ||||||
CJ CheilJedang Corp. | 113 | 33,924 | ||||||
Coway Co., Ltd. | 418 | 34,431 | ||||||
DB Insurance Co., Ltd. | 560 | 34,675 | ||||||
E-MART, Inc. | 241 | 61,160 | ||||||
GS Holdings Corp. | 770 | 44,499 | ||||||
Hana Financial Group, Inc. | 1,543 | 66,011 | ||||||
Hankook Tire Co., Ltd. | 687 | 33,902 | ||||||
Hyundai Engineering & Construction Co., Ltd. | 953 | 38,088 | ||||||
Hyundai Glovis Co., Ltd. | 227 | 38,760 | ||||||
Hyundai Heavy Industries Co., Ltd. (a) | 192 | 24,768 | ||||||
Hyundai Mobis Co., Ltd. | 348 | 82,927 | ||||||
Hyundai Motor Co. | 702 | 94,509 | ||||||
Hyundai Motor Co. Preference Shares | 411 | 33,276 | ||||||
Hyundai Robotics Co., Ltd. (a) | 12 | 4,796 | ||||||
Hyundai Steel Co. | 806 | 39,018 | ||||||
Industrial Bank of Korea | 3,224 | 47,185 | ||||||
Kangwon Land, Inc. | 1,050 | 26,844 | ||||||
KB Financial Group, Inc. | 2,032 | 117,432 | ||||||
Kia Motors Corp. | 1,507 | 45,030 | ||||||
Korea Aerospace Industries, Ltd. (a) | 560 | 26,243 | ||||||
Korea Electric Power Corp. | 1,330 | 41,052 | ||||||
Korea Zinc Co., Ltd. | 92 | 41,602 | ||||||
KT&G Corp. | 638 | 59,856 | ||||||
LG Chem, Ltd. | 288 | 104,295 | ||||||
LG Corp. | 638 | 52,014 | ||||||
LG Display Co., Ltd. | 1,330 | 32,255 | ||||||
LG Electronics, Inc. | 799 | 81,707 | ||||||
LG Household & Health Care, Ltd. | 57 | 63,743 | ||||||
Lotte Chemical Corp. | 128 | 51,997 | ||||||
NAVER Corp. | 149 | 109,873 | ||||||
NCSoft Corp. | 142 | 54,621 | ||||||
POSCO | 397 | 125,517 | ||||||
Samsung C&T Corp. | 390 | 50,127 | ||||||
Samsung Electronics Co., Ltd. Preference Shares | 79 | 150,084 | ||||||
Samsung Electronics Co., Ltd. | 439 | 1,009,877 | ||||||
Samsung Fire & Marine Insurance Co., Ltd. | 163 | 40,983 | ||||||
Samsung Life Insurance Co., Ltd. | 370 | 40,093 | ||||||
Samsung SDI Co., Ltd. | 432 | 77,411 | ||||||
Samsung SDS Co., Ltd. | 255 | 60,407 | ||||||
Shinhan Financial Group Co., Ltd. | 2,173 | 92,045 | ||||||
SK Holdings Co., Ltd. | 248 | 69,451 | ||||||
SK Hynix, Inc. | 3,082 | 232,184 | ||||||
SK Telecom Co., Ltd. | 177 | 38,193 | ||||||
S-Oil Corp. | 489 | 54,823 | ||||||
Woori Bank | 3,434 | 46,392 | ||||||
|
| |||||||
3,935,646 | ||||||||
|
|
See accompanying notes to financial statements.
69
Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
TAIWAN — 13.2% | ||||||||
Advanced Semiconductor Engineering, Inc. | 35,312 | $ | 51,048 | |||||
Asustek Computer, Inc. | 7,000 | 65,182 | ||||||
AU Optronics Corp. | 96,000 | 44,449 | ||||||
Catcher Technology Co., Ltd. | 7,000 | 86,789 | ||||||
Cathay Financial Holding Co., Ltd. | 34,000 | 60,404 | ||||||
Chang Hwa Commercial Bank, Ltd. | 73,500 | 42,476 | ||||||
Cheng Shin Rubber Industry Co., Ltd. | 14,000 | 22,735 | ||||||
China Development Financial Holding Corp. | 142,000 | 50,163 | ||||||
China Life Insurance Co., Ltd. | 34,980 | 36,291 | ||||||
China Steel Corp. | 78,000 | 62,064 | ||||||
Chunghwa Telecom Co., Ltd. | 13,000 | 49,714 | ||||||
Compal Electronics, Inc. | 57,000 | 38,805 | ||||||
CTBC Financial Holding Co., Ltd. | 78,000 | 55,911 | ||||||
Delta Electronics, Inc. | 7,000 | 31,210 | ||||||
E.Sun Financial Holding Co., Ltd. | 70,491 | 47,386 | ||||||
Far EasTone Telecommunications Co., Ltd. | 14,000 | 36,972 | ||||||
First Financial Holding Co., Ltd. | 72,000 | 50,005 | ||||||
Formosa Chemicals & Fibre Corp. | 14,000 | 52,337 | ||||||
Formosa Petrochemical Corp. | 14,000 | 56,899 | ||||||
Formosa Plastics Corp. | 21,000 | 74,185 | ||||||
Foxconn Technology Co., Ltd. | 14,000 | 37,500 | ||||||
Fubon Financial Holding Co., Ltd. | 34,000 | 58,422 | ||||||
Hon Hai Precision Industry Co., Ltd. | 78,000 | 240,765 | ||||||
Hua Nan Financial Holdings Co., Ltd. | 73,500 | 44,115 | ||||||
Lite-On Technology Corp. | 28,000 | 39,085 | ||||||
MediaTek, Inc. | 6,000 | 68,114 | ||||||
Mega Financial Holding Co., Ltd. | 50,000 | 42,957 | ||||||
Nan Ya Plastics Corp. | 28,000 | 78,554 | ||||||
Pegatron Corp. | 14,000 | 34,859 | ||||||
President Chain Store Corp. | 7,000 | 70,343 | ||||||
Quanta Computer, Inc. | 12,000 | 24,200 | ||||||
Siliconware Precision Industries Co., Ltd. | 21,000 | 36,660 | ||||||
SinoPac Financial Holdings Co., Ltd. | 123,975 | 43,795 | ||||||
Taishin Financial Holding Co., Ltd. | 103,007 | 50,520 | ||||||
Taiwan Cement Corp. | 28,000 | 35,100 | ||||||
Taiwan Cooperative Financial Holding Co., Ltd. | 79,650 | 46,850 | ||||||
Taiwan Mobile Co., Ltd. | 7,000 | 26,169 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 128,000 | 1,071,166 | ||||||
Uni-President Enterprises Corp. | 28,000 | 65,590 | ||||||
United Microelectronics Corp. | 99,000 | 51,950 | ||||||
Yuanta Financial Holding Co., Ltd. | 99,000 | 45,329 | ||||||
|
| |||||||
3,227,068 | ||||||||
|
| |||||||
THAILAND — 2.1% | ||||||||
Advanced Info Service PCL NVDR | 9,200 | 60,608 | ||||||
Airports of Thailand PCL NVDR | 30,700 | 64,797 | ||||||
Bangkok Dusit Medical Services PCL NVDR | 57,400 | 43,137 |
Security Description | Shares | Value | ||||||
CP ALL PCL NVDR | 29,100 | $ | 81,195 | |||||
Kasikornbank PCL (e) | 9,900 | 67,435 | ||||||
Minor International PCL NVDR | 31,500 | 38,280 | ||||||
PTT Global Chemical PCL NVDR | 21,300 | 64,540 | ||||||
Siam Cement PCL (e) | 2,800 | 44,234 | ||||||
Siam Commercial Bank PCL NVDR | 10,600 | 48,644 | ||||||
|
| |||||||
512,870 | ||||||||
|
| |||||||
TURKEY — 1.0% | ||||||||
Akbank Turk A/S | 16,261 | 39,242 | ||||||
BIM Birlesik Magazalar A/S | 2,188 | 39,409 | ||||||
Haci Omer Sabanci Holding A/S | 11,564 | 30,593 | ||||||
Turkcell Iletisim Hizmetleri A/S | 11,113 | 42,248 | ||||||
Turkiye Garanti Bankasi A/S | 18,744 | 51,575 | ||||||
Turkiye Is Bankasi A/S Class C | 24,410 | 43,935 | ||||||
|
| |||||||
247,002 | ||||||||
|
| |||||||
UNITED ARAB EMIRATES — 0.7% |
| |||||||
Abu Dhabi Commercial Bank PJSC | 21,129 | 37,967 | ||||||
Aldar Properties PJSC | 50,062 | 29,031 | ||||||
DP World, Ltd. | 1,891 | 42,547 | ||||||
Emaar Properties PJSC | 20,010 | 31,598 | ||||||
Emirates Telecommunications Group Co. PJSC | 7,154 | 34,377 | ||||||
|
| |||||||
175,520 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 22,797,634 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 6.7% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (f) (g) | 1,195,895 | 1,195,895 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (f) (h) | 434,013 | 434,013 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 1,629,908 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 100.0% | 24,427,542 | |||||||
|
| |||||||
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0% (i) | 9,598 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 24,437,140 | ||||||
|
|
See accompanying notes to financial statements.
70
Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
(a) | Non-income producing security. |
(b) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(c) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(d) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.3% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(e) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $111,669 representing 0.5% of net assets. |
(f) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(g) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(h) | Investment of cash collateral for securities loaned. |
(i) | Amount is less than 0.05% of net assets. |
ADR =American Depositary Receipt
GDR =Global Depositary Receipt
NVDR =Non Voting Depositary Receipt
REIT =Real Estate Investment Trust
At March 31, 2018, open futures contracts purchased were as follows:
Description | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation/ Depreciation | ||||||||||||||||||||
SGX NIFTY 50 | 80 | 04/26/2018 | $ | 1,617,197 | $ | 1,636,634 | $ | 19,437 |
During the period ended March 31, 2018, average notional value related to futures contracts was $1,566,171 or less than 0.5% of net assets.
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Brazil | $ | 1,731,166 | $ | — | $ | — | $ | 1,731,166 | ||||||||||||
Chile | 293,574 | — | — | 293,574 | ||||||||||||||||
China | 7,387,574 | — | — | 7,387,574 | ||||||||||||||||
Colombia | 117,469 | — | — | 117,469 | ||||||||||||||||
Egypt | 31,136 | — | — | 31,136 | ||||||||||||||||
Greece | 31,490 | — | — | 31,490 | ||||||||||||||||
Hong Kong | 111,846 | — | — | 111,846 | ||||||||||||||||
Hungary | 105,395 | — | — | 105,395 | ||||||||||||||||
Indonesia | 554,229 | — | — | 554,229 | ||||||||||||||||
Malaysia | 609,188 | — | — | 609,188 | ||||||||||||||||
Mexico | 817,525 | — | — | 817,525 | ||||||||||||||||
Peru | 159,382 | — | — | 159,382 | ||||||||||||||||
Philippines | 291,933 | — | — | 291,933 | ||||||||||||||||
Poland | 244,722 | — | — | 244,722 | ||||||||||||||||
Qatar | 147,810 | — | — | 147,810 | ||||||||||||||||
Russia | 364,196 | — | — | 364,196 |
See accompanying notes to financial statements.
71
Table of Contents
SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
South Africa | $ | 1,700,893 | $ | — | $ | — | $ | 1,700,893 | ||||||||||||
South Korea | 3,935,646 | — | — | 3,935,646 | ||||||||||||||||
Taiwan | 3,227,068 | — | — | 3,227,068 | ||||||||||||||||
Thailand | 401,201 | 111,669 | — | 512,870 | ||||||||||||||||
Turkey | 247,002 | — | — | 247,002 | ||||||||||||||||
United Arab Emirates | 175,520 | — | — | 175,520 | ||||||||||||||||
Short-Term Investments | 1,629,908 | — | — | 1,629,908 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 24,315,873 | $ | 111,669 | $ | — | $ | 24,427,542 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
OTHER FINANCIAL INSTRUMENTS: | ||||||||||||||||||||
Futures Contracts(a) | 19,437 | — | — | 19,437 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS AND OTHER FINANCIAL INSTRUMENTS | $ | 24,335,310 | $ | 111,669 | $ | — | $ | 24,446,979 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Futures Contracts are valued at unrealized appreciation (depreciation). |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 851,592 | $ | 851,592 | $ | 2,252,882 | $ | 1,908,579 | $ | — | $ | — | 1,195,895 | $ | 1,195,895 | $ | 7,371 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 172,291 | 172,291 | 1,038,024 | 776,302 | — | — | 434,013 | 434,013 | 1,465 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 1,023,883 | $ | 3,290,906 | $ | 2,684,881 | $ | — | $ | — | $ | 1,629,908 | $ | 8,836 | $ | — | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
72
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SUMMARY SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS - 99.4% | ||||||||
BRAZIL – 5.4% | ||||||||
Ambev SA ADR | 511,700 | $ | 3,720,060 | |||||
Itausa - Investimentos Itau SA Preference Shares | 433,691 | 1,799,434 | ||||||
Other Securities | 1,303,483 | 11,702,064 | ||||||
|
| |||||||
17,221,558 | ||||||||
|
| |||||||
CHILE – 1.7% | ||||||||
Other Securities | 4,300,163 | 5,614,528 | ||||||
|
| |||||||
CHINA – 25.3% | ||||||||
AAC Technologies Holdings, Inc. | 109,500 | 1,975,613 | ||||||
Agricultural Bank of China, Ltd. Class H | 4,040,000 | 2,295,835 | ||||||
Alibaba Group Holding, Ltd. ADR (a) (b) | 12,009 | 2,204,132 | ||||||
Bank of China, Ltd. Class H | 6,746,071 | 3,627,336 | ||||||
China Construction Bank Corp. Class H | 5,094,394 | 5,231,810 | ||||||
China Huishan Dairy Holdings Co., Ltd. (a) (c) | 1,072,393 | — | ||||||
China Mobile, Ltd. | 740,997 | 6,793,157 | ||||||
China Petroleum & Chemical Corp. Class H | 2,388,395 | 2,096,765 | ||||||
CSPC Pharmaceutical Group, Ltd. | 958,000 | 2,545,048 | ||||||
Geely Automobile Holdings, Ltd. | 492,000 | 1,416,765 | ||||||
Guangdong Investment, Ltd. | 968,000 | 1,522,001 | ||||||
Industrial & Commercial Bank of China, Ltd. Class H | 4,257,448 | 3,650,807 | ||||||
NetEase, Inc. ADR | 11,007 | 3,086,253 | ||||||
PetroChina Co., Ltd. Class H | 2,240,000 | 1,538,371 | ||||||
Shenzhou International Group Holdings, Ltd. | 146,000 | 1,537,518 | ||||||
Sunny Optical Technology Group Co., Ltd. | 86,693 | 1,600,578 | ||||||
Tencent Holdings, Ltd. | 136,678 | 7,133,176 | ||||||
Yum China Holdings, Inc. | 64,362 | 2,671,023 | ||||||
Other Securities | 19,815,308 | 30,322,005 | ||||||
|
| |||||||
81,248,193 | ||||||||
|
| |||||||
COLOMBIA – 0.4% | ||||||||
Other Securities | 209,928 | 1,154,439 | ||||||
|
| |||||||
CZECH REPUBLIC – 0.3% | ||||||||
Other Securities | 109,544 | 1,104,488 | ||||||
|
| |||||||
EGYPT – 0.3% | ||||||||
Other Security | 193,077 | 980,831 | ||||||
|
| |||||||
GREECE – 0.6% | ||||||||
Other Securities | 738,417 | 1,804,234 | ||||||
|
| |||||||
HONG KONG – 0.9% | ||||||||
Hanergy Thin Film Power Group, Ltd. (a) (c) | 598,000 | — | ||||||
Other Securities | 2,249,925 | 3,043,190 | ||||||
|
| |||||||
3,043,190 | ||||||||
|
| |||||||
HUNGARY – 0.4% | ||||||||
Other Securities | 71,653 | 1,198,467 | ||||||
|
|
Security Description | Shares | Value | ||||||
INDIA – 9.8% | ||||||||
HCL Technologies, Ltd. | 117,425 | $ | 1,743,865 | |||||
Hindustan Unilever, Ltd. | 101,904 | 2,083,259 | ||||||
Infosys, Ltd. ADR (b) | 165,681 | 2,957,406 | ||||||
Infosys, Ltd. | 100,407 | 1,742,375 | ||||||
Tata Consultancy Services, Ltd. | 79,950 | 3,492,542 | ||||||
Other Securities | 2,484,248 | 19,320,154 | ||||||
|
| |||||||
31,339,601 | ||||||||
|
| |||||||
INDONESIA – 4.1% | ||||||||
Bank Central Asia Tbk PT | 1,946,925 | 3,294,959 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 6,661,500 | 1,741,885 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 8,018,275 | 2,096,662 | ||||||
Unilever Indonesia Tbk PT | 419,400 | 1,508,682 | ||||||
Other Securities | 15,741,869 | 4,568,272 | ||||||
|
| |||||||
13,210,460 | ||||||||
|
| |||||||
MALAYSIA – 3.7% | ||||||||
Malayan Banking Bhd | 614,399 | 1,671,013 | ||||||
Public Bank Bhd | 370,511 | 2,298,931 | ||||||
Other Securities | 3,772,069 | 7,850,273 | ||||||
|
| |||||||
11,820,217 | ||||||||
|
| |||||||
MEXICO – 2.0% | ||||||||
Wal-Mart de Mexico SAB de CV | 801,824 | 2,032,069 | ||||||
Other Securities | 1,710,678 | 4,285,277 | ||||||
|
| |||||||
6,317,346 | ||||||||
|
| |||||||
PAKISTAN – 0.1% | ||||||||
Other Securities | 163,105 | 409,785 | ||||||
|
| |||||||
PERU – 0.5% | ||||||||
Credicorp, Ltd. | 6,810 | 1,546,143 | ||||||
Other Securities | 2,571 | 71,251 | ||||||
|
| |||||||
1,617,394 | ||||||||
|
| |||||||
PHILIPPINES – 1.5% | ||||||||
Other Securities | 3,150,104 | 4,690,661 | ||||||
|
| |||||||
POLAND – 1.0% | ||||||||
Other Securities | 453,709 | 3,348,162 | ||||||
|
| |||||||
QATAR – 0.8% | ||||||||
Other Securities | 162,997 | 2,621,216 | ||||||
|
| |||||||
ROMANIA – 0.1% | ||||||||
Other Security | 24,874 | 241,419 | ||||||
|
| |||||||
RUSSIA – 3.7% | ||||||||
Gazprom PJSC ADR | 457,553 | 2,226,453 | ||||||
LUKOIL PJSC ADR | 21,698 | 1,494,992 | ||||||
Sberbank of Russia PJSC ADR | 87,280 | 1,626,026 | ||||||
Tatneft PJSC ADR | 24,499 | 1,546,377 | ||||||
Other Securities | 64,723,064 | 4,979,056 | ||||||
|
| |||||||
11,872,904 | ||||||||
|
| |||||||
SOUTH AFRICA – 5.0% | ||||||||
FirstRand, Ltd. (b) | 363,615 | 2,053,030 | ||||||
Vodacom Group, Ltd. | 119,159 | 1,539,375 | ||||||
Other Securities | 1,621,021 | 12,522,158 | ||||||
|
| |||||||
16,114,563 | ||||||||
|
|
See accompanying notes to financial statements.
73
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SOUTH KOREA – 11.7% | ||||||||
KT&G Corp. | 20,621 | $ | 1,934,609 | |||||
NAVER Corp. | 3,542 | 2,611,889 | ||||||
Samsung Electronics Co., Ltd. GDR (d) | 3,218 | 3,687,828 | ||||||
Samsung Electronics Co., Ltd. | 740 | 1,702,299 | ||||||
SK Hynix, Inc. | 20,260 | 1,526,295 | ||||||
Other Securities | 534,522 | 25,963,728 | ||||||
|
| |||||||
37,426,648 | ||||||||
|
| |||||||
TAIWAN – 14.5% | ||||||||
Chunghwa Telecom Co., Ltd. | 739,540 | 2,828,093 | ||||||
Far EasTone Telecommunications Co., Ltd. | 604,449 | 1,596,274 | ||||||
Hon Hai Precision Industry Co., Ltd. | 1,973,163 | 6,090,636 | ||||||
President Chain Store Corp. | 148,000 | 1,487,259 | ||||||
Taiwan Cooperative Financial Holding Co., Ltd. | 2,648,165 | 1,557,637 | ||||||
Taiwan Mobile Co., Ltd. | 529,542 | 1,979,630 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 1,123,495 | 9,401,954 | ||||||
Other Securities | 15,966,627 | 21,501,672 | ||||||
|
| |||||||
46,443,155 | ||||||||
|
| |||||||
THAILAND – 3.7% | ||||||||
Other Securities | 9,774,796 | 11,860,156 | ||||||
|
| |||||||
TURKEY – 0.8% | ||||||||
Other Securities | 827,691 | 2,721,957 | ||||||
|
| |||||||
UNITED ARAB EMIRATES – 1.1% |
| |||||||
Other Securities | 1,347,350 | 3,634,010 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 319,059,582 | |||||||
|
| |||||||
RIGHTS - 0.0% (e) | ||||||||
SOUTH KOREA – 0.0% (e) | ||||||||
Other Security | 4,217 | 8,209 | ||||||
|
| |||||||
SHORT-TERM INVESTMENTS - 2.0% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (f) (g) | 419,516 | 419,516 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (f) (h) | 5,879,993 | 5,879,993 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 6,299,509 | |||||||
|
| |||||||
TOTAL INVESTMENTS - 101.4% |
| 325,367,300 | ||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (1.4)% | (4,366,673 | ) | ||||||
|
| |||||||
NET ASSETS - 100.0% | $ | 321,000,627 | ||||||
|
|
The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available on the Fund’s website at www.spdrs.com, without charge, upon request by calling 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $0, representing 0.0% of the Fund’s net assets. |
(d) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(e) | Amount is less than 0.05% of net assets. |
(f) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(g) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(h) | Investment of cash collateral for securities loaned. |
ADR American Depositary Receipt
GDR Global Depositary Receipt
See accompanying notes to financial statements.
74
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Brazil | $ | 17,221,558 | $ | — | $ | — | $ | 17,221,558 | ||||||||||||
Chile | 5,614,528 | — | — | 5,614,528 | ||||||||||||||||
China | 81,248,193 | — | 0 | (a) | 81,248,193 | |||||||||||||||
Colombia | 1,154,439 | — | — | 1,154,439 | ||||||||||||||||
Czech Republic | 1,104,488 | — | — | 1,104,488 | ||||||||||||||||
Egypt | 980,831 | — | — | 980,831 | ||||||||||||||||
Greece | 1,804,234 | — | — | 1,804,234 | ||||||||||||||||
Hong Kong | 3,043,190 | — | 0 | (a) | 3,043,190 | |||||||||||||||
Hungary | 1,198,467 | — | — | 1,198,467 | ||||||||||||||||
India | 31,339,601 | — | — | 31,339,601 | ||||||||||||||||
Indonesia | 13,210,460 | — | — | 13,210,460 | ||||||||||||||||
Malaysia | 11,820,217 | — | — | 11,820,217 | ||||||||||||||||
Mexico | 6,317,346 | — | — | 6,317,346 | ||||||||||||||||
Pakistan | 409,785 | — | — | 409,785 | ||||||||||||||||
Peru | 1,617,394 | — | — | 1,617,394 | ||||||||||||||||
Philippines | 4,690,661 | — | — | 4,690,661 | ||||||||||||||||
Poland | 3,348,162 | — | — | 3,348,162 | ||||||||||||||||
Qatar | 2,621,216 | — | — | 2,621,216 | ||||||||||||||||
Romania | 241,419 | — | — | 241,419 | ||||||||||||||||
Russia | 11,872,904 | — | — | 11,872,904 | ||||||||||||||||
South Africa | 16,114,563 | — | — | 16,114,563 | ||||||||||||||||
South Korea | 37,426,648 | — | — | 37,426,648 | ||||||||||||||||
Taiwan | 46,443,155 | — | — | 46,443,155 | ||||||||||||||||
Thailand | 2,637,588 | 9,222,568 | — | 11,860,156 | ||||||||||||||||
Turkey | 2,721,957 | — | — | 2,721,957 | ||||||||||||||||
United Arab Emirates | 3,634,010 | — | — | 3,634,010 | ||||||||||||||||
Rights | ||||||||||||||||||||
South Korea | 8,209 | — | — | 8,209 | ||||||||||||||||
Short-Term Investments | 6,299,509 | — | — | 6,299,509 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 316,144,732 | $ | 9,222,568 | $ | 0 | $ | 325,367,300 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 647,704 | $ | 647,704 | $ | 12,177,070 | $ | 12,405,258 | $ | — | $ | — | 419,516 | $ | 419,516 | $ | 2,997 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 3,055,835 | 3,055,835 | 14,107,878 | 11,283,720 | — | — | 5,879,993 | 5,879,993 | 12,523 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 3,703,539 | $ | 26,284,948 | $ | 23,688,978 | $ | — | $ | — | $ | 6,299,509 | $ | 15,520 | $ | — | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
75
Table of Contents
SPDR MSCI GERMANY STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.0% | ||||||||
AEROSPACE & DEFENSE — 1.8% | ||||||||
MTU Aero Engines AG | 1,009 | $ | 169,758 | |||||
|
| |||||||
AIR FREIGHT & LOGISTICS — 3.6% | ||||||||
Deutsche Post AG | 7,791 | 340,344 | ||||||
|
| |||||||
AIRLINES — 0.7% | ||||||||
Deutsche Lufthansa AG | 1,960 | 62,529 | ||||||
|
| |||||||
AUTO COMPONENTS — 3.2% | ||||||||
Continental AG | 1,075 | 296,545 | ||||||
Schaeffler AG Preference Shares | 592 | 9,126 | ||||||
|
| |||||||
305,671 | ||||||||
|
| |||||||
AUTOMOBILES — 9.5% | ||||||||
Bayerische Motoren Werke AG | 1,448 | 156,980 | ||||||
Bayerische Motoren Werke AG Preference Shares | 401 | 37,555 | ||||||
Daimler AG | 4,884 | 414,275 | ||||||
Porsche Automobil Holding SE Preference Shares | 569 | 47,235 | ||||||
Volkswagen AG | 184 | 36,795 | ||||||
Volkswagen AG Preference Shares | 1,105 | 219,313 | ||||||
|
| |||||||
912,153 | ||||||||
|
| |||||||
BANKS — 0.7% | ||||||||
Commerzbank AG (a) | 5,016 | 65,045 | ||||||
|
| |||||||
CAPITAL MARKETS — 1.7% | ||||||||
Deutsche Bank AG | 7,514 | 104,665 | ||||||
Deutsche Boerse AG | 432 | 58,761 | ||||||
|
| |||||||
163,426 | ||||||||
|
| |||||||
CHEMICALS — 12.1% | ||||||||
BASF SE | 4,519 | 458,343 | ||||||
Covestro AG (b) | 1,970 | 193,485 | ||||||
Evonik Industries AG | 2,644 | 93,129 | ||||||
Fuchs Petrolub SE Preference Shares | 1,757 | 95,293 | ||||||
KS AG | 699 | 20,151 | ||||||
Lanxess AG | 174 | 13,311 | ||||||
Linde AG (a) | 503 | 105,845 | ||||||
Symrise AG | 2,278 | 183,113 | ||||||
|
| |||||||
1,162,670 | ||||||||
|
| |||||||
CONSTRUCTION & ENGINEERING — 0.2% |
| |||||||
HOCHTIEF AG | 122 | 22,761 | ||||||
|
| |||||||
CONSTRUCTION MATERIALS — 0.7% |
| |||||||
HeidelbergCement AG | 650 | 63,776 | ||||||
|
| |||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 3.2% |
| |||||||
Deutsche Telekom AG | 16,851 | 274,596 | ||||||
Telefonica Deutschland Holding AG | 6,005 | 28,182 | ||||||
|
| |||||||
302,778 | ||||||||
|
| |||||||
ELECTRICAL EQUIPMENT — 1.2% | ||||||||
OSRAM Licht AG | 1,501 | 110,317 | ||||||
|
|
Security Description | Shares | Value | ||||||
FOOD & STAPLES RETAILING — 0.2% |
| |||||||
METRO AG | 1,040 | $ | 18,406 | |||||
|
| |||||||
HEALTH CARE PROVIDERS & SERVICES — 3.1% |
| |||||||
Fresenius Medical Care AG & Co. KGaA | 1,357 | 138,486 | ||||||
Fresenius SE & Co. KGaA | 2,034 | 155,244 | ||||||
|
| |||||||
293,730 | ||||||||
|
| |||||||
HOUSEHOLD PRODUCTS — 3.6% | ||||||||
Henkel AG & Co. KGaA Preference Shares | 2,045 | 268,732 | ||||||
Henkel AG & Co. KGaA | 597 | 75,111 | ||||||
|
| |||||||
343,843 | ||||||||
|
| |||||||
INDEPENDENT POWER PRODUCERS & ENERGY |
| |||||||
Uniper SE | 3,267 | 99,444 | ||||||
|
| |||||||
INDUSTRIAL CONGLOMERATES — 4.5% |
| |||||||
Siemens AG | 3,419 | 435,287 | ||||||
|
| |||||||
INSURANCE — 11.4% | ||||||||
Allianz SE | 1,919 | 432,839 | ||||||
Hannover Rueck SE | 1,284 | 175,126 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 2,080 | 483,095 | ||||||
|
| |||||||
1,091,060 | ||||||||
|
| |||||||
INTERNET & CATALOG RETAIL — 0.2% |
| |||||||
Zalando SE (a) (b) | 302 | 16,446 | ||||||
|
| |||||||
INTERNET SOFTWARE & SERVICES — 0.4% |
| |||||||
United Internet AG | 551 | 34,628 | ||||||
|
| |||||||
IT SERVICES — 2.3% | ||||||||
Wirecard AG | 1,881 | 221,896 | ||||||
|
| |||||||
LIFE SCIENCES TOOLS & SERVICES — 0.4% |
| |||||||
QIAGEN NV (a) | 1,331 | 42,969 | ||||||
|
| |||||||
MACHINERY — 3.2% | ||||||||
GEA Group AG | 2,880 | 122,375 | ||||||
KION Group AG | 143 | 13,320 | ||||||
MAN SE | 1,484 | 172,928 | ||||||
|
| |||||||
308,623 | ||||||||
|
| |||||||
MEDIA — 3.8% | ||||||||
Axel Springer SE | 695 | 58,123 | ||||||
ProSiebenSat.1 Media SE | 4,662 | 161,572 | ||||||
RTL Group SA | 1,798 | 149,150 | ||||||
|
| |||||||
368,845 | ||||||||
|
| |||||||
METALS & MINING — 0.3% | ||||||||
ThyssenKrupp AG | 1,189 | 30,986 | ||||||
|
| |||||||
MULTI-UTILITIES — 3.0% | ||||||||
E.ON SE | 7,517 | 83,388 | ||||||
Innogy SE (b) | 2,668 | 126,229 |
See accompanying notes to financial statements.
76
Table of Contents
SPDR MSCI GERMANY STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
RWE AG (a) | 2,995 | $ | 73,889 | |||||
|
| |||||||
283,506 | ||||||||
|
| |||||||
PERSONAL PRODUCTS — 3.1% | ||||||||
Beiersdorf AG | 2,628 | 297,413 | ||||||
|
| |||||||
PHARMACEUTICALS — 5.4% | ||||||||
Bayer AG | 3,267 | 368,805 | ||||||
Merck KGaA | 1,532 | 146,774 | ||||||
|
| |||||||
515,579 | ||||||||
|
| |||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 1.9% |
| |||||||
Deutsche Wohnen SE | 1,844 | 85,951 | ||||||
Vonovia SE | 1,962 | 97,122 | ||||||
|
| |||||||
183,073 | ||||||||
|
| |||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 2.1% |
| |||||||
Infineon Technologies AG | 7,701 | 205,901 | ||||||
|
| |||||||
SOFTWARE — 3.9% | ||||||||
SAP SE | 3,618 | 378,082 | ||||||
|
| |||||||
TEXTILES, APPAREL & LUXURY GOODS — 4.5% |
| |||||||
adidas AG | 1,204 | 291,188 | ||||||
HUGO BOSS AG | 1,584 | 137,846 | ||||||
|
| |||||||
429,034 | ||||||||
|
| |||||||
TRADING COMPANIES & DISTRIBUTORS — 1.5% |
| |||||||
Brenntag AG | 2,349 | 139,535 | ||||||
|
| |||||||
TRANSPORTATION INFRASTRUCTURE — 0.5% |
| |||||||
Fraport AG Frankfurt Airport Services Worldwide | 530 | 52,211 | ||||||
|
|
Security Description | Shares | Value | ||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.1% |
| |||||||
1&1 Drillisch AG | 209 | $ | 14,073 | |||||
|
| |||||||
TOTAL COMMON STOCKS | 9,485,798 | |||||||
|
| |||||||
SHORT-TERM INVESTMENT — 0.1% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (c) (d) | 4,859 | 4,859 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 99.1% |
| 9,490,657 | ||||||
|
| |||||||
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.9% | 89,284 | |||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 9,579,941 | ||||||
|
|
(a) | Non-income producing security. |
(b) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 3.5% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(c) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(d) | The rate shown is the annualized seven-day yield at March 31, 2018. |
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Aerospace & Defense | $ | 169,758 | $ | — | $ | — | $ | 169,758 | ||||||||||||
Air Freight & Logistics | 340,344 | — | — | 340,344 | ||||||||||||||||
Airlines | 62,529 | — | — | 62,529 | ||||||||||||||||
Auto Components | 305,671 | — | — | 305,671 | ||||||||||||||||
Automobiles | 912,153 | — | — | 912,153 | ||||||||||||||||
Banks | 65,045 | — | — | 65,045 | ||||||||||||||||
Capital Markets | 163,426 | — | — | 163,426 | ||||||||||||||||
Chemicals | 1,162,670 | — | — | 1,162,670 | ||||||||||||||||
Construction & Engineering | 22,761 | — | — | 22,761 | ||||||||||||||||
Construction Materials | 63,776 | — | — | 63,776 | ||||||||||||||||
Diversified Telecommunication Services | 302,778 | — | — | 302,778 | ||||||||||||||||
Electrical Equipment | 110,317 | — | — | 110,317 | ||||||||||||||||
Food & Staples Retailing | 18,406 | — | — | 18,406 |
See accompanying notes to financial statements.
77
Table of Contents
SPDR MSCI GERMANY STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Health Care Providers & Services | $ | 293,730 | $ | — | $ | — | $ | 293,730 | ||||||||||||
Household Products | 343,843 | — | — | 343,843 | ||||||||||||||||
Independent Power Producers & Energy Traders | 99,444 | — | — | 99,444 | ||||||||||||||||
Industrial Conglomerates | 435,287 | — | — | 435,287 | ||||||||||||||||
Insurance | 1,091,060 | — | — | 1,091,060 | ||||||||||||||||
Internet & Catalog Retail | 16,446 | — | — | 16,446 | ||||||||||||||||
Internet Software & Services | 34,628 | — | — | 34,628 | ||||||||||||||||
IT Services | 221,896 | — | — | 221,896 | ||||||||||||||||
Life Sciences Tools & Services | 42,969 | — | — | 42,969 | ||||||||||||||||
Machinery | 308,623 | — | — | 308,623 | ||||||||||||||||
Media | 368,845 | — | — | 368,845 | ||||||||||||||||
Metals & Mining | 30,986 | — | — | 30,986 | ||||||||||||||||
Multi-Utilities | 283,506 | — | — | 283,506 | ||||||||||||||||
Personal Products | 297,413 | — | — | 297,413 | ||||||||||||||||
Pharmaceuticals | 515,579 | — | — | 515,579 | ||||||||||||||||
Real Estate Management & Development | 183,073 | — | — | 183,073 | ||||||||||||||||
Semiconductors & Semiconductor Equipment | 205,901 | — | — | 205,901 | ||||||||||||||||
Software | 378,082 | — | — | 378,082 | ||||||||||||||||
Textiles, Apparel & Luxury Goods | 429,034 | — | — | 429,034 | ||||||||||||||||
Trading Companies & Distributors | 139,535 | — | — | 139,535 | ||||||||||||||||
Transportation Infrastructure | 52,211 | — | — | 52,211 | ||||||||||||||||
Wireless Telecommunication Services | 14,073 | — | — | 14,073 | ||||||||||||||||
Short-Term Investment | 4,859 | — | — | 4,859 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 9,490,657 | $ | — | $ | — | $ | 9,490,657 | ||||||||||||
|
|
|
|
|
|
|
|
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 1,300 | $ | 1,300 | $ | 62,580 | $ | 59,021 | $ | — | $ | — | 4,859 | $ | 4,859 | $ | 29 | $ | — |
See accompanying notes to financial statements.
78
Table of Contents
SPDR MSCI JAPAN STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.0% | ||||||||
AIR FREIGHT & LOGISTICS — 0.1% |
| |||||||
Yamato Holdings Co., Ltd. (a) | 900 | $ | 22,582 | |||||
|
| |||||||
AIRLINES — 1.2% | ||||||||
ANA Holdings, Inc. | 2,500 | 96,803 | ||||||
Japan Airlines Co., Ltd. | 4,700 | 189,237 | ||||||
|
| |||||||
286,040 | ||||||||
|
| |||||||
AUTO COMPONENTS — 3.4% | ||||||||
Aisin Seiki Co., Ltd. | 900 | 48,914 | ||||||
Bridgestone Corp. | 10,700 | 465,226 | ||||||
Denso Corp. | 1,200 | 65,670 | ||||||
Koito Manufacturing Co., Ltd. (a) | 1,900 | 131,847 | ||||||
NGK Spark Plug Co., Ltd. | 300 | 7,230 | ||||||
NOK Corp. | 300 | 5,828 | ||||||
Stanley Electric Co., Ltd. | 200 | 7,391 | ||||||
Sumitomo Electric Industries, Ltd. | 2,800 | 42,744 | ||||||
Sumitomo Rubber Industries, Ltd. | 900 | 16,519 | ||||||
Toyoda Gosei Co., Ltd. | 200 | 4,652 | ||||||
Toyota Industries Corp. | 400 | 24,222 | ||||||
Yokohama Rubber Co., Ltd. | 300 | 6,948 | ||||||
|
| |||||||
827,191 | ||||||||
|
| |||||||
AUTOMOBILES — 7.6% | ||||||||
Honda Motor Co., Ltd. | 7,400 | 254,669 | ||||||
Isuzu Motors, Ltd. | 1,400 | 21,484 | ||||||
Mazda Motor Corp. (a) | 2,700 | 35,708 | ||||||
Mitsubishi Motors Corp. (a) | 1,800 | 12,880 | ||||||
Nissan Motor Co., Ltd. (a) | 17,900 | 185,817 | ||||||
Subaru Corp. | 11,100 | 363,946 | ||||||
Suzuki Motor Corp. (a) | 5,400 | 290,945 | ||||||
Toyota Motor Corp. | 9,900 | 635,331 | ||||||
Yamaha Motor Co., Ltd. | 600 | 17,941 | ||||||
|
| |||||||
1,818,721 | ||||||||
|
| |||||||
BANKS — 6.7% | ||||||||
Aozora Bank, Ltd. | 1,900 | 75,661 | ||||||
Bank of Kyoto, Ltd. | 200 | 11,171 | ||||||
Chiba Bank, Ltd. | 4,000 | 32,158 | ||||||
Concordia Financial Group, Ltd. | 7,500 | 41,396 | ||||||
Fukuoka Financial Group, Inc. | 3,000 | 16,164 | ||||||
Hachijuni Bank Ltd. | 2,000 | 10,719 | ||||||
Japan Post Bank Co., Ltd. (a) | 7,800 | 104,733 | ||||||
Kyushu Financial Group, Inc. | 2,800 | 13,849 | ||||||
Mebuki Financial Group, Inc. | 6,200 | 23,844 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 56,400 | 369,636 | ||||||
Mizuho Financial Group, Inc. (a) | 168,800 | 303,792 | ||||||
Resona Holdings, Inc. | 17,400 | 91,949 | ||||||
Seven Bank, Ltd. (a) | 800 | 2,550 | ||||||
Shinsei Bank, Ltd. | 800 | 12,307 | ||||||
Shizuoka Bank, Ltd. | 2,000 | 18,919 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 7,900 | 331,154 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 1,500 | 60,747 | ||||||
Suruga Bank, Ltd. | 3,300 | 45,582 |
Security Description | Shares | Value | ||||||
Yamaguchi Financial Group, Inc. (a) | 4,000 | $ | 48,444 | |||||
|
| |||||||
1,614,775 | ||||||||
|
| |||||||
BEVERAGES — 1.6% | ||||||||
Asahi Group Holdings, Ltd. | 2,100 | 111,901 | ||||||
Coca-Cola Bottlers Japan Holdings, Inc. | 700 | 28,928 | ||||||
Kirin Holdings Co., Ltd. | 5,400 | 143,822 | ||||||
Suntory Beverage & Food, Ltd. | 1,800 | 87,504 | ||||||
|
| |||||||
372,155 | ||||||||
|
| |||||||
BUILDING PRODUCTS — 0.5% | ||||||||
Asahi Glass Co., Ltd. | 600 | 24,852 | ||||||
Daikin Industries, Ltd. | 500 | 55,172 | ||||||
LIXIL Group Corp. | 800 | 17,873 | ||||||
TOTO, Ltd. | 200 | 10,550 | ||||||
|
| |||||||
108,447 | ||||||||
|
| |||||||
CAPITAL MARKETS — 1.0% | ||||||||
Daiwa Securities Group, Inc. | 4,000 | 25,527 | ||||||
Japan Exchange Group, Inc. | 7,500 | 138,928 | ||||||
Nomura Holdings, Inc. | 10,000 | 57,856 | ||||||
SBI Holdings, Inc. (a) | 600 | 13,727 | ||||||
|
| |||||||
236,038 | ||||||||
|
| |||||||
CHEMICALS — 3.0% | ||||||||
Air Water, Inc. | 300 | 5,856 | ||||||
Asahi Kasei Corp. | 4,700 | 61,827 | ||||||
Daicel Corp. | 600 | 6,556 | ||||||
Hitachi Chemical Co., Ltd. | 1,500 | 34,203 | ||||||
JSR Corp. | 400 | 9,000 | ||||||
Kaneka Corp. | 1,000 | 9,920 | ||||||
Kansai Paint Co., Ltd. | 200 | 4,660 | ||||||
Kuraray Co., Ltd. | 1,800 | 30,601 | ||||||
Mitsubishi Chemical Holdings Corp. | 4,600 | 44,573 | ||||||
Mitsubishi Gas Chemical Co., Inc. | 400 | 9,587 | ||||||
Mitsui Chemicals, Inc. | 400 | 12,619 | ||||||
Nippon Paint Holdings Co., Ltd. | 200 | 7,344 | ||||||
Nissan Chemical Industries, Ltd. | 2,100 | 87,278 | ||||||
Nitto Denko Corp. | 200 | 15,003 | ||||||
Shin-Etsu Chemical Co., Ltd. | 1,300 | 134,523 | ||||||
Sumitomo Chemical Co., Ltd. | 4,000 | 23,319 | ||||||
Taiyo Nippon Sanso Corp. | 200 | 3,030 | ||||||
Teijin, Ltd. | 500 | 9,408 | ||||||
Toray Industries, Inc. | 11,500 | 108,836 | ||||||
Tosoh Corp. | 4,700 | 92,276 | ||||||
|
| |||||||
710,419 | ||||||||
|
| |||||||
COMMERCIAL SERVICES & SUPPLIES — 1.2% |
| |||||||
Dai Nippon Printing Co., Ltd. | 1,600 | 33,068 | ||||||
Park24 Co., Ltd. (a) | 3,600 | 96,542 | ||||||
Secom Co., Ltd. | 1,500 | 111,707 | ||||||
Sohgo Security Services Co., Ltd. | 100 | 4,946 | ||||||
Toppan Printing Co., Ltd. | 6,000 | 49,252 | ||||||
|
| |||||||
295,515 | ||||||||
|
|
See accompanying notes to financial statements.
79
Table of Contents
SPDR MSCI JAPAN STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
CONSTRUCTION & ENGINEERING — 2.5% |
| |||||||
JGC Corp. | 500 | $ | 10,879 | |||||
Kajima Corp. | 9,000 | 83,526 | ||||||
Obayashi Corp. | 14,100 | 154,324 | ||||||
Shimizu Corp. | 12,500 | 111,777 | ||||||
Taisei Corp. | 4,600 | 233,569 | ||||||
|
| |||||||
594,075 | ||||||||
|
| |||||||
CONSTRUCTION MATERIALS — 0.0% (b) |
| |||||||
Taiheiyo Cement Corp. | 300 | 10,903 | ||||||
|
| |||||||
CONSUMER FINANCE — 0.0% (b) | ||||||||
Acom Co., Ltd. (a) (c) | 300 | 1,337 | ||||||
AEON Financial Service Co., Ltd. | 200 | 4,598 | ||||||
Credit Saison Co., Ltd. | 300 | 4,928 | ||||||
|
| |||||||
10,863 | ||||||||
|
| |||||||
CONTAINERS & PACKAGING — 0.0% (b) |
| |||||||
Toyo Seikan Group Holdings, Ltd. (a) | 500 | 7,438 | ||||||
|
| |||||||
DIVERSIFIED CONSUMER SERVICES — 0.2% |
| |||||||
Benesse Holdings, Inc. | 1,000 | 36,248 | ||||||
|
| |||||||
DIVERSIFIED FINANCIAL SERVICES — 0.3% |
| |||||||
Mitsubishi UFJ Lease & Finance Co., Ltd. | 1,600 | 9,388 | ||||||
ORIX Corp. | 4,200 | 74,107 | ||||||
|
| |||||||
83,495 | ||||||||
|
| |||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.8% |
| |||||||
Nippon Telegraph & Telephone Corp. | 4,100 | 188,905 | ||||||
|
| |||||||
ELECTRIC UTILITIES — 1.3% | ||||||||
Chubu Electric Power Co., Inc. | 5,000 | 70,663 | ||||||
Chugoku Electric Power Co., Inc. (a) | 2,100 | 25,315 | ||||||
Kansai Electric Power Co., Inc. | 3,900 | 50,130 | ||||||
Kyushu Electric Power Co., Inc. | 2,200 | 26,230 | ||||||
Tohoku Electric Power Co., Inc. (a) | 4,200 | 56,118 | ||||||
Tokyo Electric Power Co. Holdings, Inc. (c) | 23,700 | 91,368 | ||||||
|
| |||||||
319,824 | ||||||||
|
| |||||||
ELECTRICAL EQUIPMENT — 0.6% |
| |||||||
Fuji Electric Co., Ltd. | 1,000 | 6,808 | ||||||
Mitsubishi Electric Corp. | 4,100 | 65,596 | ||||||
Nidec Corp. | 400 | 61,645 | ||||||
|
| |||||||
134,049 | ||||||||
|
|
Security Description | Shares | Value | ||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.8% |
| |||||||
Alps Electric Co., Ltd. (a) | 300 | $ | 7,357 | |||||
Hamamatsu Photonics KK | 100 | 3,780 | ||||||
Hirose Electric Co., Ltd. | 105 | 14,434 | ||||||
Hitachi High-Technologies Corp. | 100 | 4,758 | ||||||
Hitachi, Ltd. | 15,000 | 108,716 | ||||||
Keyence Corp. | 900 | 558,872 | ||||||
Kyocera Corp. | 1,500 | 84,683 | ||||||
Murata Manufacturing Co., Ltd. | 300 | 41,100 | ||||||
Nippon Electric Glass Co., Ltd. | 200 | 5,943 | ||||||
Omron Corp. (a) | 300 | 17,659 | ||||||
Shimadzu Corp. | 700 | 19,693 | ||||||
TDK Corp. | 300 | 27,052 | ||||||
Yaskawa Electric Corp. | 100 | 4,537 | ||||||
Yokogawa Electric Corp. | 300 | 6,200 | ||||||
|
| |||||||
904,784 | ||||||||
|
| |||||||
FOOD & STAPLES RETAILING — 2.2% |
| |||||||
Aeon Co., Ltd. (a) | 4,200 | 75,015 | ||||||
FamilyMart UNY Holdings Co., Ltd. | 800 | 67,400 | ||||||
Lawson, Inc. (a) | 1,500 | 102,257 | ||||||
Seven & i Holdings Co., Ltd. | 2,900 | 124,453 | ||||||
Sundrug Co., Ltd. (a) | 1,300 | 60,080 | ||||||
Tsuruha Holdings, Inc. | 700 | 99,850 | ||||||
|
| |||||||
529,055 | ||||||||
|
| |||||||
FOOD PRODUCTS — 1.6% | ||||||||
Ajinomoto Co., Inc. | 2,900 | 52,492 | ||||||
Calbee, Inc. (a) | 1,300 | 43,028 | ||||||
Kikkoman Corp. | 100 | 4,024 | ||||||
MEIJI Holdings Co., Ltd. | 800 | 60,931 | ||||||
NH Foods, Ltd. | 1,500 | 61,495 | ||||||
Nisshin Seifun Group, Inc. | 1,100 | 21,814 | ||||||
Nissin Foods Holdings Co., Ltd. | 800 | 55,515 | ||||||
Toyo Suisan Kaisha, Ltd. | 1,500 | 58,180 | ||||||
Yakult Honsha Co., Ltd. | 100 | 7,400 | ||||||
Yamazaki Baking Co., Ltd. | 1,100 | 22,838 | ||||||
|
| |||||||
387,717 | ||||||||
|
| |||||||
GAS UTILITIES — 0.8% | ||||||||
Osaka Gas Co., Ltd. (a) | 4,900 | 96,733 | ||||||
Toho Gas Co., Ltd. | 400 | 12,299 | ||||||
Tokyo Gas Co., Ltd. | 2,800 | 74,285 | ||||||
|
| |||||||
183,317 | ||||||||
|
| |||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 2.9% |
| |||||||
Hoya Corp. | 7,200 | 359,154 | ||||||
Olympus Corp. | 300 | 11,396 | ||||||
Sysmex Corp. | 2,600 | 235,675 | ||||||
Terumo Corp. | 1,800 | 94,612 | ||||||
|
| |||||||
700,837 | ||||||||
|
| |||||||
HEALTH CARE PROVIDERS & SERVICES — 0.3% |
| |||||||
Alfresa Holdings Corp. (a) | 1,200 | 26,719 |
See accompanying notes to financial statements.
80
Table of Contents
SPDR MSCI JAPAN STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Medipal Holdings Corp. | 1,000 | $ | 20,498 | |||||
Suzuken Co., Ltd. | 800 | 33,061 | ||||||
|
| |||||||
80,278 | ||||||||
|
| |||||||
HEALTH CARE TECHNOLOGY — 0.7% |
| |||||||
M3, Inc. (a) | 3,900 | 175,289 | ||||||
|
| |||||||
HOTELS, RESTAURANTS & LEISURE — 2.3% |
| |||||||
McDonald’s Holdings Co. Japan, Ltd. | 2,700 | 126,432 | ||||||
Oriental Land Co., Ltd. | 4,200 | 429,083 | ||||||
|
| |||||||
555,515 | ||||||||
|
| |||||||
HOUSEHOLD DURABLES — 2.0% | ||||||||
Casio Computer Co., Ltd. (a) | 300 | 4,474 | ||||||
Iida Group Holdings Co., Ltd. | 500 | 9,347 | ||||||
Nikon Corp. | 2,000 | 35,656 | ||||||
Panasonic Corp. | 5,500 | 78,660 | ||||||
Rinnai Corp. | 300 | 28,491 | ||||||
Sekisui Chemical Co., Ltd. | 7,300 | 127,398 | ||||||
Sekisui House, Ltd. | 3,800 | 69,390 | ||||||
Sharp Corp. (c) | 100 | 2,990 | ||||||
Sony Corp. | 2,500 | 120,968 | ||||||
|
| |||||||
477,374 | ||||||||
|
| |||||||
HOUSEHOLD PRODUCTS — 0.7% | ||||||||
Lion Corp. | 600 | 12,090 | ||||||
Unicharm Corp. | 5,900 | 168,041 | ||||||
|
| |||||||
180,131 | ||||||||
|
| |||||||
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.1% |
| |||||||
Electric Power Development Co., Ltd. | 600 | 15,131 | ||||||
|
| |||||||
INDUSTRIAL CONGLOMERATES — 0.2% |
| |||||||
Keihan Holdings Co., Ltd. | 100 | 3,084 | ||||||
Seibu Holdings, Inc. | 400 | 6,966 | ||||||
Toshiba Corp. (c) | 11,000 | 31,857 | ||||||
|
| |||||||
41,907 | ||||||||
|
| |||||||
INSURANCE — 2.2% |
| |||||||
Dai-ichi Life Holdings, Inc. | 4,100 | 74,887 | ||||||
Japan Post Holdings Co., Ltd. | 14,200 | 171,041 | ||||||
MS&AD Insurance Group Holdings, Inc. | 2,600 | 82,022 | ||||||
Sompo Holdings, Inc. | 1,500 | 60,395 | ||||||
Sony Financial Holdings, Inc. (a) | 400 | 7,281 | ||||||
T&D Holdings, Inc. | 1,900 | 30,166 | ||||||
Tokio Marine Holdings, Inc. | 2,500 | 111,307 | ||||||
|
| |||||||
537,099 | ||||||||
|
| |||||||
INTERNET & CATALOG RETAIL — 0.4% |
| |||||||
Rakuten, Inc. | 2,000 | 16,909 |
Security Description | Shares | Value | ||||||
Start Today Co., Ltd. | 3,000 | $ | 80,169 | |||||
|
| |||||||
97,078 | ||||||||
|
| |||||||
INTERNET SOFTWARE & SERVICES — 0.7% |
| |||||||
DeNA Co., Ltd. (a) | 200 | 3,611 | ||||||
Kakaku.com, Inc. | 2,600 | 45,521 | ||||||
Yahoo! Japan Corp. (a) | 26,700 | 124,023 | ||||||
|
| |||||||
173,155 | ||||||||
|
| |||||||
IT SERVICES — 1.5% | ||||||||
Fujitsu, Ltd. | 7,000 | 43,099 | ||||||
Nomura Research Institute, Ltd. | 600 | 28,434 | ||||||
NTT Data Corp. | 6,000 | 63,865 | ||||||
Obic Co., Ltd. | 900 | 74,894 | ||||||
Otsuka Corp. | 2,800 | 141,119 | ||||||
|
| |||||||
351,411 | ||||||||
|
| |||||||
LEISURE EQUIPMENT & PRODUCTS — 0.6% |
| |||||||
Bandai Namco Holdings, Inc. | 1,200 | 39,436 | ||||||
Sankyo Co., Ltd. | 1,500 | 52,891 | ||||||
Sega Sammy Holdings, Inc. | 300 | 4,753 | ||||||
Shimano, Inc. | 200 | 28,848 | ||||||
Yamaha Corp. | 400 | 17,584 | ||||||
|
| |||||||
143,512 | ||||||||
|
| |||||||
MACHINERY — 2.6% | ||||||||
Amada Holdings Co., Ltd. | 300 | 3,645 | ||||||
FANUC Corp. | 500 | 126,751 | ||||||
Hino Motors, Ltd. | 800 | 10,298 | ||||||
Hitachi Construction Machinery Co., Ltd. (a) | 200 | 7,720 | ||||||
Hoshizaki Corp. | 1,000 | 87,823 | ||||||
IHI Corp. | 400 | 12,431 | ||||||
JTEKT Corp. | 600 | 8,891 | ||||||
Kawasaki Heavy Industries, Ltd. | 400 | 12,938 | ||||||
Komatsu, Ltd. | 2,700 | 90,051 | ||||||
Kubota Corp. | 1,800 | 31,515 | ||||||
Kurita Water Industries, Ltd. | 400 | 12,694 | ||||||
Makita Corp. | 1,300 | 63,564 | ||||||
MINEBEA MITSUMI, Inc. | 700 | 14,954 | ||||||
Mitsubishi Heavy Industries, Ltd. (a) | 1,200 | 45,969 | ||||||
Nabtesco Corp. | 1,600 | 61,758 | ||||||
NGK Insulators, Ltd. | 500 | 8,622 | ||||||
NSK, Ltd. | 900 | 12,068 | ||||||
Sumitomo Heavy Industries, Ltd. | 200 | 7,588 | ||||||
THK Co., Ltd. | 200 | 8,275 | ||||||
|
| |||||||
627,555 | ||||||||
|
| |||||||
MARINE — 0.1% | ||||||||
Mitsui OSK Lines, Ltd. | 400 | 11,509 | ||||||
Nippon Yusen KK | 700 | 14,138 | ||||||
|
| |||||||
25,647 | ||||||||
|
| |||||||
MEDIA — 0.2% | ||||||||
Dentsu, Inc. | 500 | 21,956 | ||||||
Hakuhodo DY Holdings, Inc. | 1,000 | 13,757 |
See accompanying notes to financial statements.
81
Table of Contents
SPDR MSCI JAPAN STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Toho Co., Ltd. | 600 | $ | 19,915 | |||||
|
| |||||||
55,628 | ||||||||
|
| |||||||
METALS & MINING — 0.7% | ||||||||
Hitachi Metals, Ltd. | 600 | 7,097 | ||||||
JFE Holdings, Inc. | 2,000 | 40,310 | ||||||
Kobe Steel, Ltd. (c) | 1,900 | 19,045 | ||||||
Maruichi Steel Tube, Ltd. | 100 | 3,061 | ||||||
Mitsubishi Materials Corp. | 600 | 18,054 | ||||||
Nippon Steel & Sumitomo Metal Corp. | 3,000 | 65,910 | ||||||
Sumitomo Metal Mining Co., Ltd. | 300 | 12,637 | ||||||
|
| |||||||
166,114 | ||||||||
|
| |||||||
MULTILINE RETAIL — 1.0% | ||||||||
Don Quijote Holdings Co., Ltd. | 300 | 17,235 | ||||||
Isetan Mitsukoshi Holdings, Ltd. | 1,200 | 13,247 | ||||||
J Front Retailing Co., Ltd. | 600 | 10,206 | ||||||
Marui Group Co., Ltd. (a) | 400 | 8,154 | ||||||
Ryohin Keikaku Co., Ltd. | 500 | 167,842 | ||||||
Takashimaya Co., Ltd. | 2,000 | 19,201 | ||||||
|
| |||||||
235,885 | ||||||||
|
| |||||||
OIL, GAS & CONSUMABLE FUELS — 0.7% |
| |||||||
Idemitsu Kosan Co., Ltd. | 600 | 22,821 | ||||||
Inpex Corp. | 2,100 | 25,986 | ||||||
JXTG Holdings, Inc. | 19,700 | 119,237 | ||||||
Showa Shell Sekiyu KK | 700 | 9,485 | ||||||
|
| |||||||
177,529 | ||||||||
|
| |||||||
PAPER & FOREST PRODUCTS — 0.1% |
| |||||||
Oji Holdings Corp. | 3,000 | 19,295 | ||||||
|
| |||||||
PERSONAL PRODUCTS — 2.9% | ||||||||
Kao Corp. | 7,800 | 585,348 | ||||||
Kose Corp. (a) | 400 | 83,761 | ||||||
Shiseido Co., Ltd. | 300 | 19,219 | ||||||
|
| |||||||
688,328 | ||||||||
|
| |||||||
PHARMACEUTICALS — 6.8% | ||||||||
Astellas Pharma, Inc. | 38,900 | 590,358 | ||||||
Chugai Pharmaceutical Co., Ltd. | 900 | 45,529 | ||||||
Daiichi Sankyo Co., Ltd. | 3,900 | 129,303 | ||||||
Eisai Co., Ltd. | 800 | 51,009 | ||||||
Hisamitsu Pharmaceutical Co., Inc. | 300 | 23,244 | ||||||
Kyowa Hakko Kirin Co., Ltd. | 900 | 19,777 | ||||||
Mitsubishi Tanabe Pharma Corp. | 5,000 | 97,790 | ||||||
Ono Pharmaceutical Co., Ltd. | 400 | 12,389 | ||||||
Otsuka Holdings Co., Ltd. | 2,500 | 125,270 | ||||||
Santen Pharmaceutical Co., Ltd. | 1,600 | 25,802 | ||||||
Shionogi & Co., Ltd. (a) | 5,400 | 278,810 | ||||||
Sumitomo Dainippon Pharma Co., Ltd. (a) | 1,800 | 30,229 | ||||||
Taisho Pharmaceutical Holdings Co., Ltd. (a) | 600 | 59,013 | ||||||
Takeda Pharmaceutical Co., Ltd. | 2,800 | 136,459 | ||||||
|
| |||||||
1,624,982 | ||||||||
|
|
Security Description | Shares | Value | ||||||
PROFESSIONAL SERVICES — 2.0% | ||||||||
Recruit Holdings Co., Ltd. | 18,900 | $ | 469,968 | |||||
Temp Holdings Co., Ltd. | 100 | 2,910 | ||||||
|
| |||||||
472,878 | ||||||||
|
| |||||||
REAL ESTATE INVESTMENT TRUSTS (REITS) — 2.8% |
| |||||||
Daiwa House REIT Investment Corp. | 30 | 71,820 | ||||||
Japan Prime Realty Investment Corp. REIT | 14 | 49,892 | ||||||
Japan Real Estate Investment Corp. REIT | 19 | 98,439 | ||||||
Japan Retail Fund Investment Corp. REIT | 44 | 84,483 | ||||||
Nippon Building Fund, Inc. REIT | 19 | 105,049 | ||||||
Nippon Prologis REIT, Inc. | 54 | 116,276 | ||||||
Nomura Real Estate Master Fund, Inc. | 49 | 67,637 | ||||||
United Urban Investment Corp. REIT | 49 | 76,852 | ||||||
|
| |||||||
670,448 | ||||||||
|
| |||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 3.0% |
| |||||||
Aeon Mall Co., Ltd. | 200 | 4,194 | ||||||
Daito Trust Construction Co., Ltd. | 1,700 | 293,963 | ||||||
Daiwa House Industry Co., Ltd. | 8,700 | 335,402 | ||||||
Hulic Co., Ltd. | 300 | 3,275 | ||||||
Mitsubishi Estate Co., Ltd. | 1,400 | 23,676 | ||||||
Mitsui Fudosan Co., Ltd. | 1,400 | 33,983 | ||||||
Nomura Real Estate Holdings, Inc. | 300 | 7,086 | ||||||
Tokyo Tatemono Co., Ltd. | 300 | 4,522 | ||||||
Tokyu Fudosan Holdings Corp. | 1,400 | 10,202 | ||||||
|
| |||||||
716,303 | ||||||||
|
| |||||||
ROAD & RAIL — 4.1% | ||||||||
Central Japan Railway Co. | 900 | 170,353 | ||||||
East Japan Railway Co. | 1,700 | 157,644 | ||||||
Hankyu Hanshin Holdings, Inc. | 2,400 | 89,027 | ||||||
Keikyu Corp. (a) | 2,200 | 38,270 | ||||||
Keio Corp. | 600 | 25,642 | ||||||
Keisei Electric Railway Co., Ltd. | 600 | 18,448 | ||||||
Kintetsu Group Holdings Co., Ltd. | 1,200 | 46,770 | ||||||
Kyushu Railway Co. (a) | 2,700 | 84,034 | ||||||
Nagoya Railroad Co., Ltd. | 3,300 | 83,656 | ||||||
Nippon Express Co., Ltd. | 400 | 26,779 | ||||||
Odakyu Electric Railway Co., Ltd. | 1,000 | 20,244 | ||||||
Tobu Railway Co., Ltd. | 2,400 | 72,327 | ||||||
Tokyu Corp. | 2,900 | 45,211 | ||||||
West Japan Railway Co. | 1,500 | 104,810 | ||||||
|
| |||||||
983,215 | ||||||||
|
| |||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.8% |
| |||||||
Disco Corp. | 500 | 107,899 | ||||||
Renesas Electronics Corp. (c) | 400 | 4,024 | ||||||
Rohm Co., Ltd. | 100 | 9,525 |
See accompanying notes to financial statements.
82
Table of Contents
SPDR MSCI JAPAN STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SUMCO Corp. | 100 | $ | 2,623 | |||||
Tokyo Electron, Ltd. | 300 | 56,460 | ||||||
|
| |||||||
180,531 | ||||||||
|
| |||||||
SOFTWARE — 1.2% | ||||||||
Konami Holdings Corp. | 700 | 36,794 | ||||||
LINE Corp. (c) | 200 | 7,917 | ||||||
Nexon Co., Ltd. (c) | 200 | 3,310 | ||||||
Oracle Corp. Japan | 1,400 | 113,869 | ||||||
Trend Micro, Inc. | 2,100 | 125,388 | ||||||
|
| |||||||
287,278 | ||||||||
|
| |||||||
SPECIALTY RETAIL — 2.9% | ||||||||
ABC-Mart, Inc. | 1,400 | 92,280 | ||||||
Hikari Tsushin, Inc. | 600 | 95,966 | ||||||
Nitori Holdings Co., Ltd. | 1,600 | 282,915 | ||||||
Shimamura Co., Ltd. | 400 | 50,061 | ||||||
USS Co., Ltd. | 4,600 | 92,995 | ||||||
Yamada Denki Co., Ltd. (a) | 13,700 | 82,187 | ||||||
|
| |||||||
696,404 | ||||||||
|
| |||||||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 1.6% | ||||||||
Brother Industries, Ltd. | 500 | 11,627 | ||||||
Canon, Inc. | 4,900 | 177,524 | ||||||
FUJIFILM Holdings Corp. | 2,500 | 99,788 | ||||||
Konica Minolta, Inc. (a) | 1,600 | 13,721 | ||||||
NEC Corp. | 1,200 | 33,749 | ||||||
Ricoh Co., Ltd. (a) | 3,200 | 31,624 | ||||||
Seiko Epson Corp. | 700 | 12,447 | ||||||
|
| |||||||
380,480 | ||||||||
|
| |||||||
TEXTILES,APPAREL & LUXURY GOODS — 0.0% (b) | ||||||||
Asics Corp. (a) | 300 | 5,554 | ||||||
|
| |||||||
TOBACCO — 1.9% |
| |||||||
Japan Tobacco, Inc. | 16,000 | 461,269 | ||||||
|
| |||||||
TRADING COMPANIES & DISTRIBUTORS — 3.1% | ||||||||
ITOCHU Corp. (a) | 6,400 | 124,359 | ||||||
Marubeni Corp. | 11,400 | 82,528 | ||||||
MISUMI Group, Inc. (a) | 3,700 | 101,624 | ||||||
Mitsubishi Corp. | 5,100 | 137,247 | ||||||
Mitsui & Co., Ltd. | 9,500 | 162,800 | ||||||
Sumitomo Corp. | 6,100 | 102,728 | ||||||
Toyota Tsusho Corp. | 1,000 | 33,897 | ||||||
|
| |||||||
745,183 | ||||||||
|
|
Security Description | Shares | Value | ||||||
TRANSPORTATION INFRASTRUCTURE — 0.1% | ||||||||
Kamigumi Co., Ltd. | 1,400 | $ | 31,278 | |||||
|
| |||||||
WIRELESS TELECOMMUNICATION SERVICES — 5.4% | ||||||||
KDDI Corp. | 21,900 | 559,392 | ||||||
NTT DOCOMO, Inc. | 22,200 | 567,055 | ||||||
SoftBank Group Corp. | 2,200 | 164,457 | ||||||
|
| |||||||
1,290,904 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 23,753,961 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 10.7% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (d) (e) | 11,984 | 11,984 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (d) (f) | 2,568,084 | 2,568,084 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 2,580,068 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 109.7% | 26,334,029 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (9.7)% | (2,332,790 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 24,001,239 | ||||||
|
|
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Amount is less than 0.05% of net assets. |
(c) | Non-income producing security. |
(d) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(e) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(f) | Investment of cash collateral for securities loaned. |
REIT = Real Estate Investment Trust
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Air Freight & Logistics | �� | $ | 22,582 | $ | — | $ | — | $ | 22,582 |
See accompanying notes to financial statements.
83
Table of Contents
SPDR MSCI JAPAN STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Airlines | $ | 286,040 | $ | — | $ | — | $ | 286,040 | ||||||||||||
Auto Components | 827,191 | — | — | 827,191 | ||||||||||||||||
Automobiles | 1,818,721 | — | — | 1,818,721 | ||||||||||||||||
Banks | 1,614,775 | — | — | 1,614,775 | ||||||||||||||||
Beverages | 372,155 | — | — | 372,155 | ||||||||||||||||
Building Products | 108,447 | — | — | 108,447 | ||||||||||||||||
Capital Markets | 236,038 | — | — | 236,038 | ||||||||||||||||
Chemicals | 710,419 | — | — | 710,419 | ||||||||||||||||
Commercial Services & Supplies | 295,515 | — | — | 295,515 | ||||||||||||||||
Construction & Engineering | 594,075 | — | — | 594,075 | ||||||||||||||||
Construction Materials | 10,903 | — | — | 10,903 | ||||||||||||||||
Consumer Finance | 10,863 | — | — | 10,863 | ||||||||||||||||
Containers & Packaging | 7,438 | — | — | 7,438 | ||||||||||||||||
Diversified Consumer Services | 36,248 | — | — | 36,248 | ||||||||||||||||
Diversified Financial Services | 83,495 | — | — | 83,495 | ||||||||||||||||
Diversified Telecommunication Services | 188,905 | — | — | 188,905 | ||||||||||||||||
Electric Utilities | 319,824 | — | — | 319,824 | ||||||||||||||||
Electrical Equipment | 134,049 | — | — | 134,049 | ||||||||||||||||
Electronic Equipment, Instruments & Components | 904,784 | — | — | 904,784 | ||||||||||||||||
Food & Staples Retailing | 529,055 | — | — | 529,055 | ||||||||||||||||
Food Products | 387,717 | — | — | 387,717 | ||||||||||||||||
Gas Utilities | 183,317 | — | — | 183,317 | ||||||||||||||||
Health Care Equipment & Supplies | 700,837 | — | — | 700,837 | ||||||||||||||||
Health Care Providers & Services | 80,278 | — | — | 80,278 | ||||||||||||||||
Health Care Technology | 175,289 | — | — | 175,289 | ||||||||||||||||
Hotels, Restaurants & Leisure | 555,515 | — | — | 555,515 | ||||||||||||||||
Household Durables | 477,374 | — | — | 477,374 | ||||||||||||||||
Household Products | 180,131 | — | — | 180,131 | ||||||||||||||||
Independent Power Producers & Energy Traders | 15,131 | — | — | 15,131 | ||||||||||||||||
Industrial Conglomerates | 41,907 | — | — | 41,907 | ||||||||||||||||
Insurance | 537,099 | — | — | 537,099 | ||||||||||||||||
Internet & Catalog Retail | 97,078 | — | — | 97,078 | ||||||||||||||||
Internet Software & Services | 173,155 | — | — | 173,155 | ||||||||||||||||
IT Services | 351,411 | — | — | 351,411 | ||||||||||||||||
Leisure Equipment & Products | 143,512 | — | — | 143,512 | ||||||||||||||||
Machinery | 627,555 | — | — | 627,555 | ||||||||||||||||
Marine | 25,647 | — | — | 25,647 | ||||||||||||||||
Media | 55,628 | — | — | 55,628 | ||||||||||||||||
Metals & Mining | 166,114 | — | — | 166,114 | ||||||||||||||||
Multiline Retail | 235,885 | — | — | 235,885 | ||||||||||||||||
Oil, Gas & Consumable Fuels | 177,529 | — | — | 177,529 | ||||||||||||||||
Paper & Forest Products | 19,295 | — | — | 19,295 | ||||||||||||||||
Personal Products | 688,328 | — | — | 688,328 | ||||||||||||||||
Pharmaceuticals | 1,624,982 | — | — | 1,624,982 | ||||||||||||||||
Professional Services | 472,878 | — | — | 472,878 | ||||||||||||||||
Real Estate Investment Trusts (REITs) | 670,448 | — | — | 670,448 | ||||||||||||||||
Real Estate Management & Development | 716,303 | — | — | 716,303 | ||||||||||||||||
Road & Rail | 983,215 | — | — | 983,215 | ||||||||||||||||
Semiconductors & Semiconductor Equipment | 180,531 | — | — | 180,531 | ||||||||||||||||
Software | 287,278 | — | — | 287,278 | ||||||||||||||||
Specialty Retail | 696,404 | — | — | 696,404 | ||||||||||||||||
Technology Hardware, Storage & Peripherals | 380,480 | — | — | 380,480 | ||||||||||||||||
Textiles, Apparel & Luxury Goods | 5,554 | — | — | 5,554 | ||||||||||||||||
Tobacco | 461,269 | — | — | 461,269 |
See accompanying notes to financial statements.
84
Table of Contents
SPDR MSCI JAPAN STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Trading Companies & Distributors | $ | 745,183 | $ | — | $ | — | $ | 745,183 | ||||||||||||
Transportation Infrastructure | 31,278 | — | — | 31,278 | ||||||||||||||||
Wireless Telecommunication Services | 1,290,904 | — | — | 1,290,904 | ||||||||||||||||
Short-Term Investments | 2,580,068 | — | — | 2,580,068 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 26,334,029 | $ | — | $ | — | $ | 26,334,029 | ||||||||||||
|
|
|
|
|
|
|
|
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 131 | $ | 131 | $ | 449,523 | $ | 437,670 | $ | — | $ | — | 11,984 | $ | 11,984 | $ | 114 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | — | — | 2,964,810 | 396,726 | — | — | 2,568,084 | 2,568,084 | 617 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 131 | $ | 3,414,333 | $ | 834,396 | $ | — | $ | — | $ | 2,580,068 | $ | 731 | $ | — | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
85
Table of Contents
SPDR MSCI UNITED KINGDOM STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.4% | ||||||||
AEROSPACE & DEFENSE — 2.8% | ||||||||
BAE Systems PLC | 46,789 | $ | 381,605 | |||||
Cobham PLC (a) | 14,191 | 24,466 | ||||||
Meggitt PLC | 5,457 | 33,055 | ||||||
Rolls-Royce Holdings PLC (a) | 5,889 | 72,004 | ||||||
|
| |||||||
511,130 | ||||||||
|
| |||||||
AIR FREIGHT & LOGISTICS — 0.7% | ||||||||
Royal Mail PLC | 17,489 | 132,678 | ||||||
|
| |||||||
AIRLINES — 0.2% | ||||||||
easyJet PLC | 1,877 | 42,247 | ||||||
|
| |||||||
AUTO COMPONENTS — 0.8% | ||||||||
GKN PLC | 21,770 | 141,395 | ||||||
|
| |||||||
BANKS — 8.5% | ||||||||
Barclays PLC | 105,620 | 305,958 | ||||||
HSBC Holdings PLC | 88,790 | 828,786 | ||||||
Lloyds Banking Group PLC | 263,336 | 238,859 | ||||||
Royal Bank of Scotland Group PLC (a) | 15,528 | 56,374 | ||||||
Standard Chartered PLC | 13,635 | 136,320 | ||||||
|
| |||||||
1,566,297 | ||||||||
|
| |||||||
BEVERAGES — 5.6% | ||||||||
Coca-Cola HBC AG (a) | 2,584 | 95,478 | ||||||
Diageo PLC | 28,009 | 947,700 | ||||||
|
| |||||||
1,043,178 | ||||||||
|
| |||||||
BIOTECHNOLOGY — 0.7% | ||||||||
Shire PLC | 2,555 | 127,972 | ||||||
|
| |||||||
CAPITAL MARKETS — 3.4% | ||||||||
3i Group PLC | 18,376 | 221,432 | ||||||
Hargreaves Lansdown PLC | 3,795 | 86,935 | ||||||
Investec PLC | 2,286 | 17,624 | ||||||
London Stock Exchange Group PLC | 4,115 | 238,174 | ||||||
Schroders PLC | 1,259 | 56,375 | ||||||
|
| |||||||
620,540 | ||||||||
|
| |||||||
CHEMICALS — 1.2% | ||||||||
Croda International PLC | 2,284 | 146,359 | ||||||
Johnson Matthey PLC | 1,967 | 83,938 | ||||||
|
| |||||||
230,297 | ||||||||
|
| |||||||
COMMERCIAL SERVICES & SUPPLIES — 0.2% | ||||||||
Babcock International Group PLC | 2,948 | 27,658 | ||||||
G4S PLC | 4,107 | 14,294 | ||||||
|
| |||||||
41,952 | ||||||||
|
| |||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.9% | ||||||||
BT Group PLC | 109,711 | 350,128 | ||||||
|
| |||||||
ELECTRIC UTILITIES — 1.0% | ||||||||
SSE PLC | 10,310 | 184,546 | ||||||
|
|
Security Description | Shares | Value | ||||||
ENERGY EQUIPMENT & | ||||||||
John Wood Group PLC | 1,085 | $ | 8,219 | |||||
|
| |||||||
FOOD & STAPLES RETAILING —1.4% | ||||||||
J Sainsbury PLC | 14,604 | 48,922 | ||||||
Tesco PLC | 47,388 | 136,874 | ||||||
Wm Morrison Supermarkets PLC | 22,960 | 68,764 | ||||||
|
| |||||||
254,560 | ||||||||
|
| |||||||
FOOD PRODUCTS — 0.9% | ||||||||
Associated British Foods PLC | 4,913 | 171,679 | ||||||
|
| |||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 1.7% | ||||||||
ConvaTec Group PLC (c) | 9,167 | 25,603 | ||||||
Smith & Nephew PLC | 15,537 | 290,096 | ||||||
|
| |||||||
315,699 | ||||||||
|
| |||||||
HEALTH CARE PROVIDERS & SERVICES —0.1% | ||||||||
Mediclinic International PLC (d) | 1,514 | 12,764 | ||||||
|
| |||||||
HOTELS, RESTAURANTS & LEISURE — 4.4% | ||||||||
Carnival PLC | 1,626 | 104,468 | ||||||
Compass Group PLC | 22,738 | 464,259 | ||||||
GVC Holdings PLC | 700 | 9,024 | ||||||
InterContinental Hotels Group PLC | 138 | 8,262 | ||||||
Merlin Entertainments PLC (c) | 5,631 | 27,379 | ||||||
TUI AG | 4,145 | 88,847 | ||||||
Whitbread PLC | 1,997 | 103,651 | ||||||
|
| |||||||
805,890 | ||||||||
|
| |||||||
HOUSEHOLD DURABLES — 2.1% | ||||||||
Barratt Developments PLC | 9,769 | 72,686 | ||||||
Berkeley Group Holdings PLC | 1,715 | 91,156 | ||||||
Persimmon PLC | 3,803 | 134,972 | ||||||
Taylor Wimpey PLC | 35,260 | 91,308 | ||||||
|
| |||||||
390,122 | ||||||||
|
| |||||||
HOUSEHOLD PRODUCTS — 4.2% | ||||||||
Reckitt Benckiser Group PLC | 9,065 | 767,307 | ||||||
|
| |||||||
INDUSTRIAL CONGLOMERATES — 0.5% | ||||||||
DCC PLC | 317 | 29,172 | ||||||
Smiths Group PLC | 3,329 | 70,679 | ||||||
|
| |||||||
99,851 | ||||||||
|
| |||||||
INSURANCE — 6.3% | ||||||||
Admiral Group PLC | 6,122 | 158,362 | ||||||
Aviva PLC | 20,585 | 143,199 | ||||||
Direct Line Insurance Group PLC | 21,568 | 115,365 | ||||||
Legal & General Group PLC | 77,746 | 281,162 | ||||||
Old Mutual PLC | 12,916 | 43,358 | ||||||
Prudential PLC | 7,496 | 187,016 | ||||||
RSA Insurance Group PLC | 20,097 | 177,610 | ||||||
St James’s Place PLC | 377 | 5,746 |
See accompanying notes to financial statements.
86
Table of Contents
SPDR MSCI UNITED KINGDOM STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Standard Life Aberdeen PLC | 10,163 | $ | 51,281 | |||||
|
| |||||||
1,163,099 | ||||||||
|
| |||||||
INTERNET SOFTWARE & SERVICES — 0.1% | ||||||||
Auto Trader Group PLC (c) | 2,095 | 10,304 | ||||||
|
| |||||||
MACHINERY — 0.3% | ||||||||
IMI PLC | 2,641 | 40,012 | ||||||
Weir Group PLC | 346 | 9,680 | ||||||
|
| |||||||
49,692 | ||||||||
|
| |||||||
MEDIA — 2.1% | ||||||||
ITV PLC | 46,599 | 94,229 | ||||||
Pearson PLC | 4,425 | 46,493 | ||||||
Sky PLC | 8,069 | 146,867 | ||||||
WPP PLC | 5,862 | 93,128 | ||||||
|
| |||||||
380,717 | ||||||||
|
| |||||||
METALS & MINING — 3.9% | ||||||||
Anglo American PLC (d) | 4,399 | 102,499 | ||||||
Antofagasta PLC | 582 | 7,519 | ||||||
BHP Billiton PLC | 4,931 | 97,090 | ||||||
Fresnillo PLC | 1,628 | 28,970 | ||||||
Glencore PLC (a) | 42,200 | 209,443 | ||||||
Randgold Resources, Ltd. | 1,395 | 115,105 | ||||||
Rio Tinto PLC | 3,258 | 165,034 | ||||||
|
| |||||||
725,660 | ||||||||
|
| |||||||
MULTI-UTILITIES — 2.3% | ||||||||
Centrica PLC | 35,775 | 71,363 | ||||||
National Grid PLC | 30,805 | 346,657 | ||||||
|
| |||||||
418,020 | ||||||||
|
| |||||||
MULTILINE RETAIL — 1.2% | ||||||||
Marks & Spencer Group PLC | 23,010 | 87,216 | ||||||
Next PLC | 2,094 | 139,794 | ||||||
|
| |||||||
227,010 | ||||||||
|
| |||||||
OIL, GAS & CONSUMABLE FUELS — 9.5% | ||||||||
BP PLC | 97,614 | 656,251 | ||||||
Royal Dutch Shell PLC Class A | 22,768 | 713,357 | ||||||
Royal Dutch Shell PLC Class B | 12,032 | 384,323 | ||||||
|
| |||||||
1,753,931 | ||||||||
|
| |||||||
PAPER & FOREST PRODUCTS — 0.6% | ||||||||
Mondi PLC | 4,301 | 115,540 | ||||||
|
| |||||||
PERSONAL PRODUCTS — 4.4% | ||||||||
Unilever PLC | 14,547 | 807,180 | ||||||
|
| |||||||
PHARMACEUTICALS — 11.0% | ||||||||
AstraZeneca PLC | 14,049 | 964,802 | ||||||
GlaxoSmithKline PLC | 54,945 | 1,074,451 | ||||||
|
| |||||||
2,039,253 | ||||||||
|
| |||||||
PROFESSIONAL SERVICES — 3.5% | ||||||||
Capita PLC | 2,388 | 4,826 | ||||||
Experian PLC | 5,097 | 109,932 | ||||||
Intertek Group PLC | 2,046 | 133,748 |
Security Description | Shares | Value | ||||||
RELX PLC | 19,236 | $ | 395,319 | |||||
|
| |||||||
643,825 | ||||||||
|
| |||||||
REAL ESTATE INVESTMENT TRUSTS (REITS) — 1.2% | ||||||||
British Land Co. PLC REIT | 2,950 | 26,568 | ||||||
Hammerson PLC REIT (d) | 4,969 | 37,404 | ||||||
Land Securities Group PLC REIT | 5,766 | 75,798 | ||||||
Segro PLC REIT | 10,381 | 87,549 | ||||||
|
| |||||||
227,319 | ||||||||
|
| |||||||
SOFTWARE — 0.8% | ||||||||
Micro Focus International PLC | 945 | 13,082 | ||||||
Sage Group PLC | 15,247 | 136,715 | ||||||
|
| |||||||
149,797 | ||||||||
|
| |||||||
SPECIALTY RETAIL — 0.8% | ||||||||
Kingfisher PLC | 35,964 | 147,567 | ||||||
|
| |||||||
TEXTILES, APPAREL & LUXURY GOODS — 0.6% | ||||||||
Burberry Group PLC | 4,306 | 102,446 | ||||||
|
| |||||||
TOBACCO — 3.3% | ||||||||
British American Tobacco PLC | 6,776 | 392,667 | ||||||
Imperial Brands PLC | 6,342 | 215,830 | ||||||
|
| |||||||
608,497 | ||||||||
|
| |||||||
TRADING COMPANIES & DISTRIBUTORS — 2.1% | ||||||||
Ashtead Group PLC | 740 | 20,139 | ||||||
Bunzl PLC | 5,133 | 150,852 | ||||||
Ferguson PLC | 2,396 | 179,954 | ||||||
Travis Perkins PLC | 2,654 | 45,942 | ||||||
|
| |||||||
396,887 | ||||||||
|
| |||||||
WATER UTILITIES — 0.8% | ||||||||
Severn Trent PLC | 3,126 | 80,862 | ||||||
United Utilities Group PLC | 6,674 | 66,978 | ||||||
|
| |||||||
147,840 | ||||||||
|
| |||||||
WIRELESS TELECOMMUNICATION SERVICES — 2.3% | ||||||||
Vodafone Group PLC | 158,329 | 431,370 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 18,364,405 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 0.8% |
| |||||||
State Street Institutional | 1,693 | 1,693 |
See accompanying notes to financial statements.
87
Table of Contents
SPDR MSCI UNITED KINGDOM STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (e) (g) | 142,395 | $ | 142,395 | |||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 144,088 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 100.2% | 18,508,493 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.2)% | (43,538 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 18,464,955 | ||||||
|
|
(a) | Non-income producing security. |
(b) | Amount shown represents less than 0.05% of net assets. |
(c) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.3% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(d) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(e) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(f) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(g) | Investment of cash collateral for securities loaned. |
REIT =Real Estate Investment Trust
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
ASSETS: | ||||||||||||||||
INVESTMENTS: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Aerospace & Defense | $ | 511,130 | $ | — | $ | — | $ | 511,130 | ||||||||
Air Freight & Logistics | 132,678 | — | — | 132,678 | ||||||||||||
Airlines | 42,247 | — | — | 42,247 | ||||||||||||
Auto Components | 141,395 | — | — | 141,395 | ||||||||||||
Banks | 1,566,297 | — | — | 1,566,297 | ||||||||||||
Beverages | 1,043,178 | — | — | 1,043,178 | ||||||||||||
Biotechnology | 127,972 | — | — | 127,972 | ||||||||||||
Capital Markets | 620,540 | — | — | 620,540 | ||||||||||||
Chemicals | 230,297 | — | — | 230,297 | ||||||||||||
Commercial Services & Supplies | 41,952 | — | — | 41,952 | ||||||||||||
Diversified Telecommunication Services | 350,128 | — | — | 350,128 | ||||||||||||
Electric Utilities | 184,546 | — | — | 184,546 | ||||||||||||
Energy Equipment & Services | 8,219 | — | — | 8,219 | ||||||||||||
Food & Staples Retailing | 254,560 | — | — | 254,560 | ||||||||||||
Food Products | 171,679 | — | — | 171,679 | ||||||||||||
Health Care Equipment & Supplies | 315,699 | — | — | 315,699 | ||||||||||||
Health Care Providers & Services | 12,764 | — | — | 12,764 | ||||||||||||
Hotels, Restaurants & Leisure | 805,890 | — | — | 805,890 | ||||||||||||
Household Durables | 390,122 | — | — | 390,122 | ||||||||||||
Household Products | 767,307 | — | — | 767,307 | ||||||||||||
Industrial Conglomerates | 99,851 | — | — | 99,851 |
See accompanying notes to financial statements.
88
Table of Contents
SPDR MSCI UNITED KINGDOM STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
Insurance | $ | 1,163,099 | $ | — | $ | — | $ | 1,163,099 | ||||||||
Internet Software & Services | 10,304 | — | — | 10,304 | ||||||||||||
Machinery | 49,692 | — | — | 49,692 | ||||||||||||
Media | 380,717 | — | — | 380,717 | ||||||||||||
Metals & Mining | 725,660 | — | — | 725,660 | ||||||||||||
Multi-Utilities | 418,020 | — | — | 418,020 | ||||||||||||
Multiline Retail | 227,010 | — | — | 227,010 | ||||||||||||
Oil, Gas & Consumable Fuels | 1,753,931 | — | — | 1,753,931 | ||||||||||||
Paper & Forest Products | 115,540 | — | — | 115,540 | ||||||||||||
Personal Products | 807,180 | — | — | 807,180 | ||||||||||||
Pharmaceuticals | 2,039,253 | — | — | 2,039,253 | ||||||||||||
Professional Services | 643,825 | — | — | 643,825 | ||||||||||||
Real Estate Investment Trusts (REITs) | 227,319 | — | — | 227,319 | ||||||||||||
Software | 149,797 | — | — | 149,797 | ||||||||||||
Specialty Retail | 147,567 | — | — | 147,567 | ||||||||||||
Textiles, Apparel & Luxury Goods | 102,446 | — | — | 102,446 | ||||||||||||
Tobacco | 608,497 | — | — | 608,497 | ||||||||||||
Trading Companies & Distributors | 396,887 | — | — | 396,887 | ||||||||||||
Water Utilities | 147,840 | — | — | 147,840 | ||||||||||||
Wireless Telecommunication Services | 431,370 | — | — | 431,370 | ||||||||||||
Short-Term Investments | 144,088 | — | — | 144,088 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL INVESTMENTS | $ | 18,508,493 | $ | — | $ | — | $ | 18,508,493 | ||||||||
|
|
|
|
|
|
|
|
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 1,793 | $ | 1,793 | $ | 96,943 | $ | 97,043 | $ | — | $ | — | 1,693 | $ | 1,693 | $ | 9 | $ | — | ||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | — | — | 458,983 | 316,588 | — | — | 142,395 | 142,395 | 61 | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Total | $ | 1,793 | $ | 555,926 | $ | 413,631 | $ | — | $ | — | $ | 144,088 | $ | 70 | $ | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
89
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SUMMARY SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS - 99.6% | ||||||||
ARGENTINA – 0.1% | ||||||||
Other Security | 50 | $ | 17,820 | |||||
|
| |||||||
AUSTRALIA – 1.3% | ||||||||
Other Securities | 34,224 | 395,510 | ||||||
|
| |||||||
AUSTRIA – 0.1% | ||||||||
Other Securities | 348 | 18,573 | ||||||
|
| |||||||
BELGIUM – 0.3% | ||||||||
Other Securities | 1,613 | 87,712 | ||||||
|
| |||||||
BERMUDA – 0.1% | ||||||||
Other Security | 240 | 33,242 | ||||||
|
| |||||||
CANADA – 3.0% | ||||||||
Other Securities | 23,642 | 899,625 | ||||||
|
| |||||||
CHILE – 0.0% (a) | ||||||||
Other Security | 148 | 1,912 | ||||||
|
| |||||||
DENMARK – 1.2% | ||||||||
Novo Nordisk A/S Class B | 2,886 | 141,660 | ||||||
Other Securities | 3,821 | 223,163 | ||||||
|
| |||||||
364,823 | ||||||||
|
| |||||||
FINLAND – 0.3% | ||||||||
Other Securities | 3,473 | 91,519 | ||||||
|
| |||||||
FRANCE – 2.3% | ||||||||
Other Securities | 12,143 | 694,052 | ||||||
|
| |||||||
GERMANY – 2.5% | ||||||||
Other Securities | 16,243 | 744,961 | ||||||
|
| |||||||
HONG KONG – 1.9% | ||||||||
Other Securities | 103,722 | 570,787 | ||||||
|
| |||||||
IRELAND – 0.4% | ||||||||
Other Securities | 2,100 | 106,917 | ||||||
|
| |||||||
ISRAEL – 0.4% | ||||||||
Other Securities | 13,855 | 122,176 | ||||||
|
| |||||||
ITALY – 0.7% | ||||||||
Other Securities | 33,948 | 199,866 | ||||||
|
| |||||||
JAPAN – 10.2% | ||||||||
Other Securities | 143,978 | 3,020,452 | ||||||
|
| |||||||
LUXEMBOURG – 0.1% | ||||||||
Other Securities | 779 | 27,510 | ||||||
|
| |||||||
MEXICO – 0.0% (a) | ||||||||
Other Security | 16 | 285 | ||||||
|
| |||||||
NETHERLANDS – 1.0% | ||||||||
Other Securities | 9,534 | 292,846 | ||||||
|
| |||||||
NEW ZEALAND – 0.1% | ||||||||
Other Securities | 6,315 | 34,449 | ||||||
|
| |||||||
NORWAY – 0.1% | ||||||||
Other Securities | 2,056 | 37,453 | ||||||
|
| |||||||
PORTUGAL – 0.0% (a) | ||||||||
Other Securities | 1,432 | 13,180 | ||||||
|
| |||||||
SINGAPORE – 0.7% | ||||||||
Other Securities | 63,612 | 212,968 | ||||||
|
|
Security Description | Shares | Value | ||||||
SOUTH AFRICA – 0.1% | ||||||||
Other Securities | 670 | $ | 13,785 | |||||
|
| |||||||
SPAIN – 0.9% | ||||||||
Other Securities | 22,839 | 260,280 | ||||||
|
| |||||||
SWEDEN – 0.8% | ||||||||
Other Securities | 10,828 | 231,120 | ||||||
|
| |||||||
SWITZERLAND – 4.5% | ||||||||
Nestle SA | 1,762 | 139,142 | ||||||
Roche Holding AG | 1,200 | 274,561 | ||||||
Other Securities | 17,056 | 905,333 | ||||||
|
| |||||||
1,319,036 | ||||||||
|
| |||||||
UNITED KINGDOM – 6.1% | ||||||||
AstraZeneca PLC | 1,731 | 118,875 | ||||||
Unilever NV | 1,889 | 106,565 | ||||||
Other Securities | 167,096 | 1,584,002 | ||||||
|
| |||||||
1,809,442 | ||||||||
|
| |||||||
UNITED STATES – 60.4% | ||||||||
3M Co. | 861 | 189,007 | ||||||
Accenture PLC Class A | 1,228 | 188,498 | ||||||
Alphabet, Inc. Class A (b) | 283 | 293,511 | ||||||
Alphabet, Inc. Class C (b) | 299 | 308,505 | ||||||
Altria Group, Inc. | 3,770 | 234,946 | ||||||
Amgen, Inc. | 873 | 148,829 | ||||||
Apple, Inc. | 3,872 | 649,644 | ||||||
AT&T, Inc. | 4,025 | 143,491 | ||||||
Automatic Data Processing, Inc. | 1,019 | 115,636 | ||||||
Bank of America Corp. | 3,854 | 115,581 | ||||||
Becton Dickinson and Co. | 565 | 122,436 | ||||||
Berkshire Hathaway, Inc. Class B (b) | 841 | 167,763 | ||||||
Booking Holdings, Inc. (b) | 52 | 108,180 | ||||||
Bristol-Myers Squibb Co. | 2,134 | 134,976 | ||||||
Coca-Cola Co. | 2,549 | 110,703 | ||||||
Consolidated Edison, Inc. | 1,504 | 117,222 | ||||||
Costco Wholesale Corp. | 633 | 119,276 | ||||||
Exxon Mobil Corp. | 2,369 | 176,751 | ||||||
Gilead Sciences, Inc. | 1,767 | 133,214 | ||||||
Honeywell International, Inc. | 809 | 116,909 | ||||||
Intel Corp. | 5,746 | 299,252 | ||||||
International Business Machines Corp. | 1,367 | 209,739 | ||||||
Intuitive Surgical, Inc. (b) | 311 | 128,390 | ||||||
Johnson & Johnson | 4,251 | 544,766 | ||||||
JPMorgan Chase & Co. | 1,345 | 147,910 | ||||||
Lockheed Martin Corp. | 366 | 123,682 | ||||||
Mastercard, Inc. Class A | 1,333 | 233,488 | ||||||
McDonald’s Corp. | 853 | 133,392 | ||||||
Microsoft Corp. | 6,845 | 624,743 | ||||||
NIKE, Inc. Class B | 1,767 | 117,400 | ||||||
Northrop Grumman Corp. | 672 | 234,609 | ||||||
NVIDIA Corp. | 764 | 176,935 | ||||||
PepsiCo, Inc. | 1,106 | 120,720 | ||||||
Procter & Gamble Co. | 3,916 | 310,461 | ||||||
Raytheon Co. | 772 | 166,613 | ||||||
Starbucks Corp. | 2,572 | 148,893 | ||||||
State Street Corp. (c) | 144 | 14,361 | ||||||
Texas Instruments, Inc. | 1,477 | 153,446 | ||||||
TJX Cos., Inc. | 1,779 | 145,095 |
See accompanying notes to financial statements.
90
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Union Pacific Corp. | 909 | $ | 122,197 | |||||
UnitedHealth Group, Inc. | 563 | 120,482 | ||||||
Verizon Communications, Inc. | 3,255 | 155,654 | ||||||
Visa, Inc. Class A | 2,620 | 313,404 | ||||||
Walmart, Inc. | 2,600 | 231,322 | ||||||
Walt Disney Co. | 1,917 | 192,544 | ||||||
Waste Management, Inc. | 1,308 | 110,029 | ||||||
Other Securities | 130,840 | 8,947,533 | ||||||
|
| |||||||
17,922,138 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 29,544,439 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 1.3% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (d) (e) | 14,591 | 14,591 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (d) (f) | 376,622 | 376,622 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| 391,213 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.9% (Cost $27,738,494) | 29,935,652 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.9)% |
| (259,700 | ) | |||||
|
| |||||||
NET ASSETS — 100.0% | $ | 29,675,952 | ||||||
|
|
The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available on the Fund’s website at www.spdrs.com, without charge, upon request by calling 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
(a) | Amount shown represents less than 0.05% of net assets. |
(b) | Non-income producing security. |
(c) | The Fund invested in an affiliated entity, State Street Corp. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(d) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(e) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(f) | Investment of cash collateral for securities loaned. |
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Argentina | $ 17,820 | $— | $— | $ 17,820 | ||||||||||||||||
Australia | 395,510 | — | — | 395,510 | ||||||||||||||||
Austria | 18,573 | — | — | 18,573 | ||||||||||||||||
Belgium | 87,712 | — | — | 87,712 | ||||||||||||||||
Bermuda | 33,242 | — | — | 33,242 | ||||||||||||||||
Canada | 899,625 | — | — | 899,625 | ||||||||||||||||
Chile | 1,912 | — | — | 1,912 | ||||||||||||||||
Denmark | 364,823 | — | — | 364,823 | ||||||||||||||||
Finland | 91,519 | — | — | 91,519 | ||||||||||||||||
France | 694,052 | — | — | 694,052 | ||||||||||||||||
Germany | 744,961 | — | — | 744,961 | ||||||||||||||||
Hong Kong | 570,787 | — | — | 570,787 | ||||||||||||||||
Ireland | 106,917 | — | — | 106,917 | ||||||||||||||||
Israel | 122,176 | — | — | 122,176 | ||||||||||||||||
Italy | 199,866 | — | — | 199,866 | ||||||||||||||||
Japan | 3,020,452 | — | — | 3,020,452 | ||||||||||||||||
Luxembourg | 27,510 | — | — | 27,510 |
See accompanying notes to financial statements.
91
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Mexico | $ | 285 | $ | — | $ | — | $ | 285 | ||||||||||||
Netherlands | 292,846 | — | — | 292,846 | ||||||||||||||||
New Zealand | 34,449 | — | — | 34,449 | ||||||||||||||||
Norway | 37,453 | — | — | 37,453 | ||||||||||||||||
Portugal | 13,180 | — | — | 13,180 | ||||||||||||||||
Singapore | 212,968 | — | — | 212,968 | ||||||||||||||||
South Africa | 13,785 | — | — | 13,785 | ||||||||||||||||
Spain | 260,280 | — | — | 260,280 | ||||||||||||||||
Sweden | 231,120 | — | — | 231,120 | ||||||||||||||||
Switzerland | 1,319,036 | — | — | 1,319,036 | ||||||||||||||||
United Kingdom | 1,809,442 | — | — | 1,809,442 | ||||||||||||||||
United States | 17,922,138 | — | — | 17,922,138 | ||||||||||||||||
Short-Term Investments | 391,213 | — | — | 391,213 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 29,935,652 | $ | — | $ | — | $ | 29,935,652 | ||||||||||||
|
|
|
|
|
|
|
|
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Corp. | 108 | $ | 10,318 | $ | 3,650 | $ | — | $— | $393 | 367,874,930 | $ | 14,361 | $ 106 | $— | ||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 4,411,701 | 4,411,701 | 565,543 | 4,962,653 | — | — | 14,591 | 14,591 | 252 | — | ||||||||||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 24,983 | 24,983 | 1,427,994 | 1,076,355 | — | — | 376,622 | 376,622 | 792 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 4,447,002 | $ | 1,997,187 | $6,039,008 | $— | $393 | $405,574 | $1,150 | $— | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
92
Table of Contents
SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.9% | ||||||||
CHINA — 46.4% | ||||||||
21Vianet Group, Inc. ADR (a) | 10,272 | $ | 71,185 | |||||
500.com, Ltd. Class A, ADR (a) | 1,872 | 32,124 | ||||||
51job, Inc. (a) | 3,059 | 263,196 | ||||||
58.com, Inc. ADR (a) | 4,678 | 373,585 | ||||||
AAC Technologies Holdings, Inc. | 89,000 | 1,605,749 | ||||||
Agile Group Holdings, Ltd. | 605,598 | 1,251,583 | ||||||
Agricultural Bank of China, Ltd. Class H | 3,064,000 | 1,741,197 | ||||||
Air China, Ltd. Class H | 439,414 | 559,884 | ||||||
Alibaba Group Holding, Ltd. ADR (a) (b) | 150,363 | 27,597,625 | ||||||
Aluminum Corp. of China, Ltd. Class H (a) (b) | 784,304 | 434,708 | ||||||
Angang Steel Co., Ltd. Class H (b) | 451,244 | 431,218 | ||||||
Anhui Conch Cement Co., Ltd. Class H | 267,250 | 1,455,721 | ||||||
Anhui Expressway Co., Ltd. Class H | 32,000 | 24,464 | ||||||
ANTA Sports Products, Ltd. | 123,000 | 620,618 | ||||||
Autohome, Inc. ADR | 5,519 | 474,303 | ||||||
AVIC International Holding HK, Ltd. (a) (b) | 974,621 | 40,980 | ||||||
AviChina Industry & Technology Co., Ltd. Class H | 500,000 | 352,306 | ||||||
BAIC Motor Corp., Ltd. Class H (c) | 226,000 | 277,018 | ||||||
Baidu, Inc. ADR (a) | 37,394 | 8,345,967 | ||||||
Bank of China, Ltd. Class H | 10,328,466 | 5,553,576 | ||||||
Bank of Communications Co., Ltd. Class H | 2,819,630 | 2,209,488 | ||||||
BBMG Corp. Class H | 275,000 | 124,040 | ||||||
BeiGene, Ltd. ADR (a) | 4,200 | 705,600 | ||||||
Beijing Capital International Airport Co., Ltd. Class H | 120,000 | 161,156 | ||||||
Beijing Capital Land, Ltd. Class H | 132,000 | 80,394 | ||||||
Beijing Enterprises Clean Energy Group, Ltd. (a) | 2,230,400 | 72,468 | ||||||
Beijing Enterprises Holdings, Ltd. | 86,000 | 449,269 | ||||||
Beijing Enterprises Water Group, Ltd. | 502,000 | 280,158 | ||||||
Bitauto Holdings, Ltd. ADR (a) (b) | 2,867 | 60,637 | ||||||
Boyaa Interactive International, Ltd. (a) | 106,200 | 41,136 | ||||||
Brilliance China Automotive Holdings, Ltd. | 436,000 | 909,965 | ||||||
Byd Co., Ltd. Class H (b) | 103,800 | 809,419 | ||||||
BYD Electronic International Co., Ltd. | 124,500 | 233,508 | ||||||
C.banner International Holdings, Ltd. (a) | 204,000 | 66,802 | ||||||
CAR, Inc. (a) | 201,043 | 180,850 | ||||||
CGN Power Co., Ltd. Class H (c) | 1,446,000 | 374,015 | ||||||
China Aerospace International Holdings, Ltd. | 348,000 | 37,690 | ||||||
China Agri-Industries Holdings, Ltd. | 301,000 | 132,315 |
Security Description | Shares | Value | ||||||
China Animal Healthcare, Ltd. (a) (b) (d) | 305,700 | $ | — | |||||
China Biologic Products Holdings, Inc. (a) | 2,151 | 174,231 | ||||||
China Chengtong Development Group, Ltd. (a) (b) | 394,074 | 19,080 | ||||||
China Cinda Asset Management Co., Ltd. Class H | 1,230,600 | 446,875 | ||||||
China CITIC Bank Corp., Ltd. Class H | 1,492,341 | 1,019,195 | ||||||
China Coal Energy Co., Ltd. Class H | 735,000 | 294,064 | ||||||
China Communications Construction Co., Ltd. Class H | 662,000 | 679,857 | ||||||
China Conch Venture Holdings, Ltd. | 165,600 | 505,348 | ||||||
China Construction Bank Corp. Class H | 12,196,148 | 12,525,127 | ||||||
China Dongxiang Group Co., Ltd. | 539,000 | 94,088 | ||||||
China Eastern Airlines Corp., Ltd. Class H | 210,000 | 152,517 | ||||||
China Everbright International, Ltd. | 317,000 | 444,300 | ||||||
China Everbright, Ltd. | 130,000 | 272,314 | ||||||
China Evergrande Group (a) | 616,000 | 1,938,662 | ||||||
China Fangda Group Co., Ltd. Class B | 122,150 | 77,041 | ||||||
China Fire Safety Enterprise Group, Ltd. (a) | 464,227 | 21,294 | ||||||
China Galaxy Securities Co., Ltd. Class H | 394,600 | 262,453 | ||||||
China Harmony New Energy Auto Holding, Ltd. (a) | 79,000 | 50,631 | ||||||
China Hongqiao Group, Ltd. (b) | 116,000 | 126,667 | ||||||
China Huishan Dairy Holdings Co., Ltd. (a) (b) (d) | 549,000 | — | ||||||
China Huiyuan Juice Group, Ltd. (a) | 157,000 | 40,409 | ||||||
China International Marine Containers Group Co., Ltd. Class H | 94,000 | 146,600 | ||||||
China Lesso Group Holdings, Ltd. | 153,000 | 116,383 | ||||||
China Life Insurance Co., Ltd. Class H | 1,057,708 | 2,911,012 | ||||||
China Lilang, Ltd. | 93,000 | 116,127 | ||||||
China Lodging Group, Ltd. ADR | 4,432 | 583,739 | ||||||
China Longyuan Power Group Corp., Ltd. Class H | 541,000 | 414,971 | ||||||
China Machinery Engineering Corp. Class H | 96,000 | 50,885 | ||||||
China Medical System Holdings, Ltd. | 181,000 | 410,971 | ||||||
China Mengniu Dairy Co., Ltd. | 439,780 | 1,507,343 | ||||||
China Merchants Bank Co., Ltd. Class H | 700,760 | 2,870,613 | ||||||
China Merchants Port Holdings Co., Ltd. | 423,606 | 933,754 | ||||||
China Minsheng Banking Corp., Ltd. Class H | 977,600 | 950,408 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
China Mobile, Ltd. | 788,136 | $ | 7,225,308 | |||||
China Molybdenum Co., Ltd. Class H | 456,000 | 343,962 | ||||||
China National Building Material Co., Ltd. Class H | 448,000 | 486,342 | ||||||
China Nuclear Energy Technology Corp., Ltd. (a) | 114,000 | 20,336 | ||||||
China Oilfield Services, Ltd. Class H | 316,557 | 326,306 | ||||||
China Overseas Land & Investment, Ltd. | 773,084 | 2,684,217 | ||||||
China Overseas Property Holdings, Ltd. | 277,361 | 86,584 | ||||||
China Pacific Insurance Group Co., Ltd. Class H | 327,400 | 1,466,319 | ||||||
China Petroleum & Chemical Corp. Class H | 3,561,726 | 3,126,829 | ||||||
China Power International Development, Ltd. | 303,000 | 77,986 | ||||||
China Railway Construction Corp., Ltd. Class H | 273,000 | 273,407 | ||||||
China Railway Group, Ltd. Class H | 689,000 | 477,576 | ||||||
China Resources Beer Holdings Co., Ltd. | 353,357 | 1,530,795 | ||||||
China Resources Gas Group, Ltd. | 98,000 | 340,265 | ||||||
China Resources Land, Ltd. | 478,767 | 1,741,625 | ||||||
China Resources Phoenix Healthcare Holdings Co., Ltd. (b) | 80,000 | 96,530 | ||||||
China Resources Power Holdings Co., Ltd. | 352,437 | 643,056 | ||||||
China Shengmu Organic Milk, Ltd. (a) (b) (c) | 381,000 | 51,944 | ||||||
China Shenhua Energy Co., Ltd. Class H | 534,540 | 1,328,126 | ||||||
China Silver Group, Ltd. | 98,000 | 21,477 | ||||||
China Singyes Solar Technologies Holdings, Ltd. (b) | 81,600 | 29,840 | ||||||
China South City Holdings, Ltd. | 440,000 | 99,232 | ||||||
China Southern Airlines Co., Ltd. Class H | 256,000 | 264,210 | ||||||
China State Construction International | 276,750 | 337,814 | ||||||
China Taiping Insurance Holdings Co., Ltd. | 134,541 | 444,853 | ||||||
China Telecom Corp., Ltd. Class H | 2,461,320 | 1,085,097 | ||||||
China Travel International Investment Hong Kong, Ltd. | 292,000 | 103,431 | ||||||
China Unicom Hong Kong, Ltd. (a) | 846,172 | 1,067,378 | ||||||
China Vanke Co., Ltd. Class H | 154,500 | 704,751 | ||||||
China Yurun Food Group, Ltd. (a) | 220,659 | 29,521 | ||||||
Chinasoft International, Ltd. (a) (b) | 216,000 | 193,754 | ||||||
Chlitina Holding, Ltd. | 47,000 | 315,139 | ||||||
Chong Sing Holdings FinTech Gr (a) (b) | 2,416,000 | 317,073 |
Security Description | Shares | Value | ||||||
Chongqing Changan Automobile Co., Ltd. Class B | 97,600 | $ | 97,621 | |||||
Chongqing Rural Commercial Bank Co., Ltd. Class H | 222,000 | 170,001 | ||||||
CITIC Resources Holdings, Ltd. | 386,000 | 43,281 | ||||||
CITIC Securities Co., Ltd. Class H | 234,500 | 536,628 | ||||||
CITIC Telecom International Holdings, Ltd. | 221,000 | 63,921 | ||||||
CITIC, Ltd. | 665,000 | 930,354 | ||||||
CNOOC, Ltd. | 2,159,249 | 3,180,424 | ||||||
Cogobuy Group (c) | 78,000 | 39,555 | ||||||
Colour Life Services Group Co., Ltd. | 97,000 | 91,089 | ||||||
Consun Pharmaceutical Group, Ltd. | 194,400 | 206,332 | ||||||
Coolpad Group, Ltd. (a) (d) | 437,400 | 20,063 | ||||||
COSCO SHIPPING Development Co., Ltd. Class H (a) | 1,373,339 | 255,479 | ||||||
COSCO SHIPPING Energy Transportation Co., Ltd. Class H | 649,215 | 334,191 | ||||||
COSCO SHIPPING Holdings Co., Ltd. Class H (a) | 28,500 | 14,126 | ||||||
COSCO SHIPPING Ports, Ltd. | 37,562 | 31,588 | ||||||
Cosmo Lady China Holdings Co., Ltd. (c) | 108,000 | 58,484 | ||||||
Country Garden Holdings Co., Ltd. | 808,333 | 1,664,394 | ||||||
CRRC Corp., Ltd. Class H | 557,000 | 474,795 | ||||||
CSG Holding Co., Ltd. Class B | 130,000 | 74,538 | ||||||
CSMall Group, Ltd. (a) | 1,567 | 469 | ||||||
CSPC Pharmaceutical Group, Ltd. | 310,000 | 823,554 | ||||||
CT Environmental Group, Ltd. (b) | 438,000 | 78,690 | ||||||
Ctrip.com International, Ltd. ADR (a) | 41,333 | 1,926,944 | ||||||
Datang International Power Generation Co., Ltd. Class H (a) | 410,000 | 122,765 | ||||||
Dazhong Transportation Group Co., Ltd. Class B | 108,050 | 66,343 | ||||||
Dongfang Electric Corp., Ltd. Class H (a) | 15,200 | 11,833 | ||||||
Dongfeng Motor Group Co., Ltd. Class H | 532,468 | 618,068 | ||||||
Fang Holdings, Ltd. ADR (a) | 29,113 | 149,641 | ||||||
Fanhua, Inc. ADR | 9,359 | 252,880 | ||||||
Far East Horizon, Ltd. | 170,000 | 179,784 | ||||||
FIH Mobile, Ltd. | 352,000 | 76,246 | ||||||
First Tractor Co., Ltd. Class H (b) | 82,000 | 30,509 | ||||||
Fufeng Group, Ltd. | 125,000 | 74,061 | ||||||
Future Land Holdings Co., Ltd. Class A | 139,621 | 776,251 | ||||||
Geely Automobile Holdings, Ltd. | 653,000 | 1,880,382 | ||||||
GF Securities Co., Ltd. Class H | 120,600 | 221,583 | ||||||
Golden Eagle Retail Group, Ltd. | 102,000 | 116,838 | ||||||
GOME Retail Holdings, Ltd. (b) | 1,731,322 | 187,509 | ||||||
Goodbaby International Holdings, Ltd. | 279,000 | 190,543 |
See accompanying notes to financial statements.
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SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Great Wall Motor Co., Ltd. Class H (b) | 395,500 | $ | 396,594 | |||||
Greentown China Holdings, Ltd. (b) | 114,000 | 154,260 | ||||||
Guangdong Investment, Ltd. | 388,000 | 610,058 | ||||||
Guangshen Railway Co., Ltd. Class H | 80,500 | 47,592 | ||||||
Guangzhou Automobile Group Co., Ltd. Class H | 502,032 | 924,962 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class H | 100,000 | 308,347 | ||||||
Guangzhou R&F Properties Co., Ltd. Class H | 429,776 | 1,072,209 | ||||||
Guotai Junan International Holdings, Ltd. | 310,000 | 89,268 | ||||||
Haitian International Holdings, Ltd. | 79,000 | 239,568 | ||||||
Haitong Securities Co., Ltd. Class H | 370,800 | 490,412 | ||||||
Health and Happiness H&H International Holdings, Ltd. (a) | 27,000 | 205,554 | ||||||
Hengan International Group Co., Ltd. | 96,500 | 893,894 | ||||||
HNA Holding Group Co., Ltd. (a) | 493,400 | 21,060 | ||||||
Huadian Fuxin Energy Corp., Ltd. Class H | 254,000 | 65,051 | ||||||
Huadian Power International Corp., Ltd. Class H | 254,000 | 97,738 | ||||||
Huaneng Power International, Inc. Class H | 666,472 | 447,525 | ||||||
Huaneng Renewables Corp., Ltd. Class H | 440,000 | 164,265 | ||||||
Huatai Securities Co., Ltd. Class H (c) | 81,000 | 155,843 | ||||||
Huishang Bank Corp., Ltd. Class H | 735,000 | 361,492 | ||||||
Industrial & Commercial Bank of China, Ltd. Class H | 10,704,138 | 9,178,911 | ||||||
Inner Mongolia Yitai Coal Co., Ltd. Class B | 218,681 | 291,939 | ||||||
JD.com, Inc. ADR (a) | 110,521 | 4,474,995 | ||||||
Jiangsu Expressway Co., Ltd. Class H | 404,299 | 571,808 | ||||||
Jiangxi Copper Co., Ltd. Class H | 297,578 | 424,662 | ||||||
JinkoSolar Holding Co., Ltd. ADR (a) (b) | 3,590 | 65,518 | ||||||
Joy City Property, Ltd. | 504,000 | 80,914 | ||||||
Jumei International Holding, Ltd. ADR (a) (b) | 2,761 | 8,007 | ||||||
Kama Co., Ltd. Class B (a) | 120,649 | 94,709 | ||||||
Kangda International Environmental Co., Ltd. (c) | 255,000 | 47,762 | ||||||
Kingdee International Software | 264,000 | 265,739 | ||||||
Kingsoft Corp., Ltd. | 113,000 | 358,511 | ||||||
Konka Group Co., Ltd. Class B (a) | 382,000 | 159,647 | ||||||
Kunlun Energy Co., Ltd. | 456,000 | 393,349 | ||||||
KWG Property Holding, Ltd. | 190,951 | 260,334 |
Security Description | Shares | Value | ||||||
Lao Feng Xiang Co., Ltd. Class B | 64,179 | $ | 232,649 | |||||
Launch Tech Co., Ltd. Class H | 28,000 | 31,039 | ||||||
Lenovo Group, Ltd. (b) | 1,131,703 | 578,231 | ||||||
Leyou Technologies Holdings, Ltd. (a) | 255,800 | 53,453 | ||||||
Li Ning Co., Ltd. (a) | 328,874 | 336,907 | ||||||
Lifetech Scientific Corp. (a) | 302,000 | 87,734 | ||||||
Livzon Pharmaceutical Group, Inc. Class H | 27,227 | 219,251 | ||||||
Luoyang Glass Co., Ltd. Class H (a) (b) | 70,153 | 34,324 | ||||||
Luthai Textile Co., Ltd. Class B | 50,400 | 55,420 | ||||||
Luye Pharma Group, Ltd. | 228,000 | 218,172 | ||||||
Maanshan Iron & Steel Co., Ltd. Class H (a) | 800,971 | 342,910 | ||||||
Metallurgical Corp. of China, Ltd. Class H | 484,000 | 138,139 | ||||||
Minth Group, Ltd. | 98,000 | 446,402 | ||||||
Nanjing Panda Electronics Co., Ltd. Class H | 29,000 | 14,965 | ||||||
National Agricultural Holdings, | 112,000 | 8,491 | ||||||
NetEase, Inc. ADR | 11,730 | 3,288,975 | ||||||
New China Life Insurance Co., Ltd. Class H | 87,000 | 405,164 | ||||||
New Oriental Education & Technology Group, Inc. ADR | 15,801 | 1,384,958 | ||||||
Noah Holdings, Ltd. ADS (a) | 2,803 | 132,330 | ||||||
Ourgame International Holdings, Ltd. (a) | 49,000 | 12,924 | ||||||
People’s Insurance Co. Group of China, Ltd. Class H | 614,000 | 287,117 | ||||||
PetroChina Co., Ltd. Class H | 2,819,208 | 1,936,156 | ||||||
PICC Property & Casualty Co., Ltd. Class H | 620,289 | 1,085,938 | ||||||
Ping An Insurance Group Co. of China, Ltd. Class H | 672,228 | 6,835,085 | ||||||
Poly Culture Group Corp., Ltd. Class H | 36,200 | 64,206 | ||||||
Poly Property Group Co., Ltd. (a) | 314,000 | 154,433 | ||||||
Renhe Commercial Holdings Co., Ltd. (a) (b) | 2,324,000 | 45,306 | ||||||
Semiconductor Manufacturing International Corp. (a) (b) | 650,883 | 850,893 | ||||||
Shandong Airlines Co., Ltd. Class B | 24,300 | 45,731 | ||||||
Shandong Chenming Paper Holdings, Ltd. Class H | 55,900 | 94,445 | ||||||
Shandong Weigao Group Medical Polymer Co., Ltd. Class H | 248,000 | 165,264 | ||||||
Shang Gong Group Co., Ltd. Class B (a) | 164,200 | 146,302 | ||||||
Shanghai Baosight Software Co., Ltd. Class B | 38,500 | 69,262 | ||||||
Shanghai Dasheng Agricultural Finance Technology Co., Ltd. Class H | 363,000 | 9,944 | ||||||
Shanghai Electric Group Co., Ltd. | 508,418 | 176,203 |
See accompanying notes to financial statements.
95
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SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H | 42,000 | $ | 257,941 | |||||
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. Class H | 215,000 | 102,729 | ||||||
Shanghai Haixin Group Co. Class B | 96,000 | 59,136 | ||||||
Shanghai Highly Group Co., Ltd. Class B | 155,300 | 137,285 | ||||||
Shanghai Industrial Holdings, Ltd. | 53,000 | 138,100 | ||||||
Shanghai Jinjiang International Industrial Investment Co., Ltd. Class B | 14,100 | 17,075 | ||||||
Shanghai Jinjiang International Travel Co., Ltd. Class B | 30,074 | 77,591 | ||||||
Shanghai Jinqiao Export Processing Zone Development Co., Ltd. Class B | 42,400 | 54,781 | ||||||
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B | 167,953 | 239,501 | ||||||
Shanghai Mechanical and Electrical Industry Co., Ltd. Class B | 54,684 | 113,415 | ||||||
Shanghai Pharmaceuticals Holding Co., Ltd. Class H | 77,400 | 207,102 | ||||||
Shanghai Prime Machinery Co., Ltd. Class H | 678,000 | 122,671 | ||||||
Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd. Class B | 10,800 | 14,785 | ||||||
Shanghai Zhenhua Heavy Industries Co., Ltd. Class B | 116,500 | 60,114 | ||||||
Shengjing Bank Co., Ltd. Class H (c) | 21,000 | 15,680 | ||||||
Shenzhen Expressway Co., Ltd. Class H | 29,000 | 29,524 | ||||||
Shenzhen Investment, Ltd. | 366,888 | 155,669 | ||||||
Shenzhou International Group Holdings, Ltd. | 59,000 | 621,326 | ||||||
Shunfeng International Clean Energy, Ltd. (a) | 254,700 | 9,736 | ||||||
SINA Corp. (a) | 11,238 | 1,171,786 | ||||||
Sino-Ocean Group Holding, Ltd. | 938,211 | 680,201 | ||||||
Sinopec Oilfield Service Corp. Class H (a) (b) | 214,000 | 32,175 | ||||||
Sinopec Shanghai Petrochemical Co., Ltd. Class H | 676,878 | 411,389 | ||||||
Sinopharm Group Co., Ltd. Class H | 132,800 | 664,990 | ||||||
Sinotrans, Ltd. Class H | 268,000 | 147,176 | ||||||
SITC International Holdings Co., Ltd. | 220,000 | 218,646 | ||||||
Sohu.com, Inc. (a) | 4,496 | 139,016 | ||||||
Sun King Power Electronics Group | 175,300 | 34,398 | ||||||
Sunac China Holdings, Ltd. | 316,000 | 1,219,984 | ||||||
Sunny Optical Technology Group Co., Ltd. | 126,000 | 2,326,287 | ||||||
TAL Education Group ADR | 42,002 | 1,557,854 |
Security Description | Shares | Value | ||||||
TCL Multimedia Technology Holdings, Ltd. | 153,000 | $ | 71,350 | |||||
Tencent Holdings, Ltd. | 729,670 | 38,081,219 | ||||||
Tian Ge Interactive Holdings, Ltd. (c) | 95,000 | 80,011 | ||||||
Tianjin ZhongXin Pharmaceutical Group Corp., Ltd. | 38,345 | 35,277 | ||||||
Tianneng Power International, Ltd. | 108,000 | 127,839 | ||||||
Tingyi Cayman Islands Holding Corp. | 440,383 | 913,502 | ||||||
Tong Ren Tang Technologies Co., Ltd. Class H | 155,000 | 258,323 | ||||||
TravelSky Technology, Ltd. Class H | 110,000 | 318,859 | ||||||
Tsingtao Brewery Co., Ltd. Class H | 98,000 | 511,958 | ||||||
Uni-President China Holdings, Ltd. | 219,000 | 189,469 | ||||||
Vipshop Holdings, Ltd. ADR (a) | 41,337 | 687,021 | ||||||
Want Want China Holdings, Ltd. | 1,216,000 | 974,560 | ||||||
Weibo Corp. ADR | 2,227 | 266,216 | ||||||
Weichai Power Co., Ltd. Class H | 59,000 | 66,154 | ||||||
West China Cement, Ltd. (a) | 446,000 | 84,673 | ||||||
Wisdom Sports Group | 172,000 | 17,313 | ||||||
Xiamen International Port Co., Ltd. Class H | 158,000 | 28,788 | ||||||
Xinjiang Goldwind Science & Technology Co., Ltd. Class H (b) | 38,659 | 61,966 | ||||||
Xinyi Solar Holdings, Ltd. | 301,200 | 121,657 | ||||||
Yangzijiang Shipbuilding Holdings, Ltd. | 310,900 | 286,882 | ||||||
Yantai Changyu Pioneer Wine Co., Ltd. Class B | 30,553 | 78,248 | ||||||
Yanzhou Coal Mining Co., Ltd. Class H | 438,882 | 559,206 | ||||||
Yestar Healthcare Holdings Co., Ltd. (b) | 435,000 | 151,313 | ||||||
Yum China Holdings, Inc. | 32,093 | 1,331,860 | ||||||
YY, Inc. ADR (a) | 3,964 | 417,013 | ||||||
Zhejiang Expressway Co., Ltd. Class H | 254,000 | 259,233 | ||||||
Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H | 62,600 | 33,740 | ||||||
Zhuzhou CRRC Times Electric Co., Ltd. Class H | 89,100 | 431,406 | ||||||
Zijin Mining Group Co., Ltd. Class H | 1,126,685 | 503,888 | ||||||
ZTE Corp. Class H (a) (b) | 108,440 | 353,024 | ||||||
|
| |||||||
233,756,967 | ||||||||
|
| |||||||
HONG KONG — 2.0% | ||||||||
Alibaba Pictures Group, Ltd. (a) (b) | 1,370,107 | 178,065 | ||||||
Beijing Enterprises Medical & Health Group, Ltd. (a) (b) | 476,500 | 21,857 | ||||||
Carnival Group International Holdings, Ltd. (a) | 1,250,000 | 57,337 | ||||||
China All Access Holdings, Ltd. | 204,000 | 64,982 |
See accompanying notes to financial statements.
96
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SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
China Beidahuang Industry Group Holdings, Ltd. Class A (a) | 477,600 | $ | 24,342 | |||||
China Fiber Optic Network System | 686,800 | — | ||||||
China Financial International Investments, Ltd. (a) | 600,000 | 20,641 | ||||||
China Gas Holdings, Ltd. | 339,600 | 1,235,373 | ||||||
China High Speed Transmission Equipment Group Co., Ltd. | 8,000 | 12,579 | ||||||
China Jicheng Holdings, Ltd. (a) (b) (c) | 115,575 | 1,075 | ||||||
China Minsheng Drawin Technology | 701,658 | 18,238 | ||||||
China NT Pharma Group Co., Ltd. | 112,500 | 26,948 | ||||||
China Soft Power Technology | 266,000 | 4,135 | ||||||
Citychamp Watch & Jewellery Group, Ltd. | 510,000 | 109,170 | ||||||
Comba Telecom Systems Holdings, Ltd. (b) | 393,847 | 52,692 | ||||||
CP Pokphand Co., Ltd. | 950,000 | 73,838 | ||||||
Dawnrays Pharmaceutical Holdings, Ltd. | 131,000 | 71,773 | ||||||
Digital China Holdings, Ltd. (a) (b) | 160,000 | 87,866 | ||||||
EVA Precision Industrial Holdings, Ltd. | 458,000 | 70,028 | ||||||
Fullshare Holdings, Ltd. (a) (b) | 726,100 | 402,448 | ||||||
GCL-Poly Energy Holdings, Ltd. (a) | 1,022,000 | 126,313 | ||||||
Haier Electronics Group Co., Ltd. | 156,000 | 555,560 | ||||||
Hanergy Thin Film Power Group, Ltd. (a) (b) (d) | 5,962,000 | — | ||||||
Hi Sun Technology China, Ltd. (a) | 324,000 | 57,383 | ||||||
Hua Han Health Industry Holdings, Ltd. (a) (b) (d) | 890,400 | 45,097 | ||||||
Huabao International Holdings, Ltd. | 18,000 | 11,926 | ||||||
Imperial Pacific International Holdings, Ltd. (a) (b) | 8,176,300 | 102,096 | ||||||
Kingboard Chemical Holdings, Ltd. | 136,200 | 622,144 | ||||||
Lee & Man Paper Manufacturing, Ltd. | 250,000 | 264,070 | ||||||
Munsun Capital Group, Ltd. (a) | 550,200 | 2,804 | ||||||
NetDragon Websoft Holdings, Ltd. (b) | 62,500 | 152,103 | ||||||
New Provenance Everlasting Holdings, Ltd. (a) (b) | 1,225,231 | 25,134 | ||||||
Nine Dragons Paper Holdings, Ltd. | 204,000 | 305,157 | ||||||
North Mining Shares Co., Ltd. (a) (b) | 2,830,000 | 49,400 | ||||||
Qianhai Health Holdings, Ltd. (a) | 906,374 | 9,123 | ||||||
Shimao Property Holdings, Ltd. | 181,500 | 513,398 | ||||||
Sino Biopharmaceutical, Ltd. | 711,000 | 1,395,130 | ||||||
Skyworth Digital Holdings, Ltd. | 290,243 | 130,545 | ||||||
SSY Group, Ltd. | 574,691 | 504,520 | ||||||
Sun Art Retail Group, Ltd. | 259,000 | 301,297 |
Security Description | Shares | Value | ||||||
Tech Pro Technology Development, Ltd. (a) (e) | 1,684,800 | $ | 14,598 | |||||
Tibet Water Resources, Ltd. (a) | 381,000 | 150,977 | ||||||
United Laboratories International Holdings, Ltd. (a) (b) | 124,000 | 128,451 | ||||||
Victory City International Holdings, Ltd. (a) | 969,915 | 14,212 | ||||||
Vinda International Holdings, Ltd. | 48,000 | 84,523 | ||||||
Vision Values Holdings, Ltd. (a) | 510,000 | 37,690 | ||||||
Wasion Group Holdings, Ltd. (b) | 86,000 | 43,831 | ||||||
WH Group, Ltd. (c) | 1,019,500 | 1,085,970 | ||||||
Xinyi Glass Holdings, Ltd. | 370,000 | 557,242 | ||||||
|
| |||||||
9,824,081 | ||||||||
|
| |||||||
INDIA — 17.5% | ||||||||
Adani Ports & Special Economic Zone, Ltd. | 123,233 | 669,054 | ||||||
Adani Power, Ltd. (a) | 83,834 | 30,463 | ||||||
AIA Engineering, Ltd. | 10,250 | 226,525 | ||||||
Ajanta Pharma, Ltd. | 3,873 | 82,562 | ||||||
Alembic Pharmaceuticals, Ltd. | 11,431 | 96,106 | ||||||
Apollo Hospitals Enterprise, Ltd. | 34,174 | 557,841 | ||||||
Apollo Tyres, Ltd. | 58,160 | 247,053 | ||||||
Arvind, Ltd. | 32,913 | 193,249 | ||||||
Asian Paints, Ltd. | 32,663 | 561,096 | ||||||
AstraZeneca Pharma India, Ltd. (a) | 10,557 | 150,136 | ||||||
Aurobindo Pharma, Ltd. | 41,816 | 357,658 | ||||||
Axis Bank, Ltd. | 176,983 | 1,385,272 | ||||||
Bajaj Auto, Ltd. | 7,369 | 310,107 | ||||||
Bajaj Finance, Ltd. | 17,910 | 485,373 | ||||||
Bharat Electronics, Ltd. | 120,727 | 261,828 | ||||||
Bharat Financial Inclusion, Ltd. (a) | 31,402 | 528,095 | ||||||
Bharat Forge, Ltd. | 33,191 | 356,048 | ||||||
Bharat Heavy Electricals, Ltd. | 282,553 | 352,424 | ||||||
Bharat Petroleum Corp., Ltd. | 54,535 | 357,412 | ||||||
Bharti Airtel, Ltd. | 222,641 | 1,361,004 | ||||||
Bharti Infratel, Ltd. | 58,795 | 303,027 | ||||||
Biocon, Ltd. | 83,865 | 763,663 | ||||||
Bosch, Ltd. | 880 | 243,101 | ||||||
Britannia Industries, Ltd. | 2,865 | 218,344 | ||||||
Cadila Healthcare, Ltd. | 31,070 | 179,998 | ||||||
Central Bank of India (a) | 78,233 | 86,783 | ||||||
CG Power and Industrial Solutions, Ltd. (a) | 92,237 | 109,742 | ||||||
Cipla, Ltd. | 108,638 | 908,541 | ||||||
Coal India, Ltd. | 165,569 | 719,173 | ||||||
Dabur India, Ltd. | 41,469 | 208,802 | ||||||
DCB Bank, Ltd. | 85,340 | 211,382 | ||||||
Dena Bank (a) | 437,383 | 126,075 | ||||||
Divi’s Laboratories, Ltd. | 11,170 | 186,710 | ||||||
DLF, Ltd. | 79,933 | 246,644 | ||||||
Dr Lal PathLabs, Ltd. (c) | 9,920 | 133,282 | ||||||
Dr Reddy’s Laboratories, Ltd. | 12,606 | 402,127 | ||||||
Eicher Motors, Ltd. | 1,215 | 528,548 | ||||||
Emami, Ltd. | 6,186 | 101,376 | ||||||
Escorts, Ltd. | 59,590 | 747,460 | ||||||
Federal Bank, Ltd. | 90,373 | 123,598 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Fortis Healthcare, Ltd. (a) | 52,214 | $ | 98,749 | |||||
GAIL India, Ltd. | 74,829 | 376,946 | ||||||
GAIL India, Ltd. (a) (e) | 24,943 | 125,649 | ||||||
Gateway Distriparks, Ltd. | 39,935 | 106,999 | ||||||
Gillette India, Ltd. | 1,059 | 106,474 | ||||||
Glenmark Pharmaceuticals, Ltd. | 22,919 | 184,943 | ||||||
Godrej Consumer Products, Ltd. | 38,589 | 647,068 | ||||||
Godrej Industries, Ltd. | 21,778 | 183,616 | ||||||
Granules India, Ltd. | 70,045 | 110,886 | ||||||
Grasim Industries, Ltd. | 17,564 | 283,004 | ||||||
Gujarat Mineral Development Corp., Ltd. | 50,167 | 94,647 | ||||||
Gujarat Pipavav Port, Ltd. | 42,971 | 95,763 | ||||||
Havells India, Ltd. | 40,832 | 305,418 | ||||||
HCL Technologies, Ltd. | 59,622 | 885,440 | ||||||
HDFC Bank, Ltd. | 201,341 | 5,822,437 | ||||||
Hero MotoCorp, Ltd. | 14,689 | 797,897 | ||||||
Hindalco Industries, Ltd. | 137,471 | 452,218 | ||||||
Hindustan Unilever, Ltd. | 135,400 | 2,768,030 | ||||||
Hindustan Zinc, Ltd. | 183,639 | 846,232 | ||||||
Housing Development & Infrastructure, Ltd. (a) | 75,053 | 44,418 | ||||||
Housing Development Finance Corp., Ltd. | 225,931 | 6,323,963 | ||||||
ICICI Bank, Ltd. ADR | 240,496 | 2,128,390 | ||||||
ICICI Bank, Ltd. | 609 | 2,599 | ||||||
Idea Cellular, Ltd. (a) | 241,249 | 280,747 | ||||||
IDFC, Ltd. | 166,462 | 124,422 | ||||||
Igarashi Motors India, Ltd. | 9,983 | 123,828 | ||||||
Indiabulls Housing Finance, Ltd. | 72,461 | 1,374,579 | ||||||
Indian Hotels Co., Ltd. | 389,553 | 772,874 | ||||||
Indian Oil Corp., Ltd. | 264,382 | 715,864 | ||||||
Indo Count Industries, Ltd. | 71,577 | 93,283 | ||||||
IndusInd Bank, Ltd. | 28,807 | 793,585 | ||||||
Infosys, Ltd. ADR | 290,825 | 5,191,226 | ||||||
Ipca Laboratories, Ltd. | 17,258 | 173,488 | ||||||
ITC, Ltd. GDR | 298,066 | 1,168,419 | ||||||
Jain Irrigation Systems, Ltd. | 75,550 | 123,307 | ||||||
Jaiprakash Associates, Ltd. (a) | 359,079 | 104,054 | ||||||
Jammu & Kashmir Bank, Ltd. (a) | 107,573 | 99,538 | ||||||
Jindal Steel & Power, Ltd. (a) | 71,301 | 239,522 | ||||||
JSW Steel, Ltd. | 181,205 | 800,565 | ||||||
Jubilant Foodworks, Ltd. | 5,934 | 211,610 | ||||||
Jubilant Life Sciences, Ltd. | 11,567 | 148,876 | ||||||
Just Dial, Ltd. (a) | 6,251 | 42,463 | ||||||
Karnataka Bank Ltd. | 53,148 | 93,630 | ||||||
Kaveri Seed Co., Ltd. | 13,459 | 99,753 | ||||||
Kotak Mahindra Bank, Ltd. | 81,326 | 1,306,519 | ||||||
KPIT Technologies, Ltd. | 60,551 | 201,042 | ||||||
Kwality, Ltd. | 72,213 | 65,380 | ||||||
Lakshmi Vilas Bank Ltd. | 65,093 | 98,306 | ||||||
Larsen & Toubro, Ltd. GDR | 58,396 | 1,173,760 | ||||||
Laurus Labs, Ltd. (c) | 12,465 | 96,103 | ||||||
LIC Housing Finance, Ltd. | 46,038 | 377,217 | ||||||
Lupin, Ltd. | 29,227 | 329,747 | ||||||
Mahindra & Mahindra Financial Services, Ltd. | 45,815 | 325,410 | ||||||
Mahindra & Mahindra, Ltd. | 139,488 | 1,580,267 |
Security Description | Shares | Value | ||||||
Manappuram Finance, Ltd. | 74,396 | $ | 124,389 | |||||
Marico, Ltd. | 63,723 | 318,558 | ||||||
Marksans Pharma, Ltd. | 194,400 | 94,336 | ||||||
Maruti Suzuki India, Ltd. | 3,520 | 478,232 | ||||||
Max Financial Services, Ltd. (a) | 17,605 | 122,398 | ||||||
Max India, Ltd. (a) | 145,133 | 186,251 | ||||||
Mindtree, Ltd. | 15,200 | 179,904 | ||||||
Motherson Sumi Systems, Ltd. | 74,364 | 354,537 | ||||||
Narayana Hrudayalaya, Ltd. (a) | 37,420 | 160,216 | ||||||
Natco Pharma, Ltd. | 10,905 | 126,010 | ||||||
Navkar Corp., Ltd. (a) (c) | 40,924 | 94,621 | ||||||
NCC, Ltd. | 88,421 | 159,362 | ||||||
Nestle India, Ltd. | 2,622 | 329,794 | ||||||
NTPC, Ltd. | 167,785 | 436,559 | ||||||
Oil & Natural Gas Corp., Ltd. | 439,722 | 1,198,720 | ||||||
Page Industries, Ltd. | 951 | 330,764 | ||||||
PI Industries, Ltd. | 10,570 | 143,458 | ||||||
Piramal Enterprises, Ltd. | 5,047 | 188,259 | ||||||
Power Finance Corp., Ltd. | 94,265 | 123,790 | ||||||
Power Grid Corp. of India, Ltd. | 100,395 | 297,467 | ||||||
Rajesh Exports, Ltd. | 31,294 | 354,867 | ||||||
Raymond, Ltd. | 8,934 | 122,973 | ||||||
Reliance Capital, Ltd. | 41,559 | 269,725 | ||||||
Reliance Communications, Ltd. (a) | 218,613 | 72,903 | ||||||
Reliance Home Finance, Ltd. (a) | 37,107 | 33,909 | ||||||
Reliance Industries, Ltd. GDR (c) | 233,488 | 6,327,525 | ||||||
Reliance Infrastructure, Ltd. | 75,920 | 497,623 | ||||||
Repco Home Finance, Ltd. | 11,618 | 100,172 | ||||||
Rural Electrification Corp., Ltd. | 88,186 | 168,606 | ||||||
Sanghvi Movers, Ltd. | 39,760 | 105,737 | ||||||
Sequent Scientific, Ltd. | 129,901 | 153,658 | ||||||
Shilpa Medicare, Ltd. | 14,527 | 103,270 | ||||||
Shoppers Stop, Ltd. | 18,608 | 150,241 | ||||||
Shree Renuka Sugars, Ltd. (a) | 471,223 | 110,903 | ||||||
Shriram City Union Finance, Ltd. | 8,640 | 282,369 | ||||||
Shriram Transport Finance Co., Ltd. | 20,832 | 459,812 | ||||||
Siemens, Ltd. | 34,050 | 560,098 | ||||||
Sintex Industries, Ltd. | 484,610 | 133,372 | ||||||
SML ISUZU, Ltd. | 19,439 | 229,077 | ||||||
State Bank of India | 209,821 | 803,939 | ||||||
Steel Authority of India, Ltd. (a) | 255,648 | 275,161 | ||||||
Strides Shasun, Ltd. | 15,659 | 160,655 | ||||||
Sun Pharma Advanced Research Co., Ltd. (a) | 28,270 | 163,560 | ||||||
Sun Pharmaceutical Industries, Ltd. | 142,419 | 1,081,107 | ||||||
Suven Life Sciences, Ltd. | 36,389 | 93,397 | ||||||
Suzlon Energy, Ltd. (a) | 554,256 | 90,929 | ||||||
Tata Consultancy Services, Ltd. | 74,520 | 3,255,338 | ||||||
Tata Motors, Ltd. (a) | 231,481 | 1,160,037 | ||||||
Tata Steel, Ltd. | 42,654 | 373,458 | ||||||
Tech Mahindra, Ltd. | 62,746 | 614,456 | ||||||
Thyrocare Technologies, Ltd. (c) | 45,152 | 413,190 | ||||||
Titan Co., Ltd. | 14,406 | 208,133 | ||||||
Torrent Pharmaceuticals, Ltd. | 9,236 | 176,976 | ||||||
Transport Corp. of India, Ltd. | 25,362 | 105,147 |
See accompanying notes to financial statements.
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SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
UltraTech Cement, Ltd. | 7,656 | $ | 463,668 | |||||
Unichem Laboratories, Ltd. | 19,434 | 85,010 | ||||||
United Breweries, Ltd. | 8,695 | 126,362 | ||||||
United Spirits, Ltd. (a) | 11,171 | 536,038 | ||||||
UPL, Ltd. | 33,194 | 371,654 | ||||||
Vakrangee, Ltd. | 184,388 | 625,778 | ||||||
Vedanta, Ltd. | 141,912 | 604,557 | ||||||
V-Mart Retail, Ltd. | 3,420 | 99,616 | ||||||
Wipro, Ltd. ADR | 209,098 | 1,078,946 | ||||||
WNS Holdings, Ltd. ADR (a) | 10,794 | 489,292 | ||||||
Wockhardt, Ltd. (a) | 23,266 | 259,158 | ||||||
Yes Bank, Ltd. | 178,962 | 836,479 | ||||||
Zee Entertainment Enterprises, Ltd. | 186,105 | 1,642,144 | ||||||
|
| |||||||
88,117,502 | ||||||||
|
| |||||||
INDONESIA — 3.4% | ||||||||
Ace Hardware Indonesia Tbk PT | 2,461,200 | 237,763 | ||||||
Adaro Energy Tbk PT | 2,982,600 | 461,445 | ||||||
AKR Corporindo Tbk PT | 136,700 | 56,348 | ||||||
Astra International Tbk PT | 3,173,800 | 1,682,857 | ||||||
Bank Central Asia Tbk PT | 2,293,696 | 3,881,832 | ||||||
Bank Mandiri Persero Tbk PT | 2,997,610 | 1,671,085 | ||||||
Bank Negara Indonesia Persero Tbk PT | 574,300 | 361,871 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 9,133,980 | 2,388,402 | ||||||
Charoen Pokphand Indonesia Tbk PT | 386,900 | 96,953 | ||||||
Ciputra Development Tbk PT | 949,896 | 81,070 | ||||||
Garda Tujuh Buana Tbk PT (a) | 139,100 | 2,708 | ||||||
Garuda Indonesia Persero Tbk PT (a) | 3,613,000 | 77,154 | ||||||
Gudang Garam Tbk PT | 103,000 | 542,214 | ||||||
Indocement Tunggal Prakarsa Tbk PT | 293,025 | 340,541 | ||||||
Intiland Development Tbk PT | 1,302,600 | 31,223 | ||||||
Kalbe Farma Tbk PT | 1,043,800 | 113,724 | ||||||
Kawasan Industri Jababeka Tbk PT | 6,852,998 | 130,415 | ||||||
Lippo Cikarang Tbk PT (a) | 339,300 | 76,399 | ||||||
Lippo Karawaci Tbk PT | 1,712,700 | 59,713 | ||||||
Matahari Department Store Tbk PT | 216,200 | 171,955 | ||||||
Matahari Putra Prima Tbk PT (a) | 470,800 | 13,679 | ||||||
Media Nusantara Citra Tbk PT | 437,500 | 44,965 | ||||||
Modernland Realty Tbk PT | 5,902,000 | 149,184 | ||||||
Pakuwon Jati Tbk PT | 2,357,100 | 107,861 | ||||||
Pembangunan Perumahan Persero Tbk PT | 804,476 | 152,510 | ||||||
Perusahaan Gas Negara Persero Tbk | 1,860,040 | 310,738 | ||||||
Semen Indonesia Persero Tbk PT | 573,100 | 430,840 | ||||||
Summarecon Agung Tbk PT | 892,700 | 58,681 | ||||||
Surya Semesta Internusa Tbk PT | 1,419,600 | 56,712 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 8,943,870 | 2,338,691 | ||||||
Tiga Pilar Sejahtera Food Tbk (a) | 943,400 | 43,855 |
Security Description | Shares | Value | ||||||
Tower Bersama Infrastructure Tbk PT | 338,300 | $ | 136,991 | |||||
Unilever Indonesia Tbk PT | 68,800 | 247,490 | ||||||
United Tractors Tbk PT | 291,745 | 678,107 | ||||||
Wijaya Karya Persero Tbk PT | 760,557 | 92,808 | ||||||
|
| |||||||
17,328,784 | ||||||||
|
| |||||||
MACAU — 0.0% (f) | ||||||||
Newtree Group Holdings, Ltd. (a) | 354,000 | 21,651 | ||||||
|
| |||||||
MALAYSIA — 3.7% | ||||||||
7-Eleven Malaysia Holdings Bhd Class B | 253,800 | 98,423 | ||||||
AEON Credit Service M Bhd | 68,850 | 218,939 | ||||||
AirAsia Bhd | 248,100 | 254,001 | ||||||
Alliance Bank Malaysia Bhd | 734,810 | 811,179 | ||||||
Astro Malaysia Holdings Bhd | 236,000 | 124,467 | ||||||
Axiata Group Bhd | 503,833 | 711,202 | ||||||
Bermaz Auto Bhd (a) | 272,680 | 160,027 | ||||||
British American Tobacco Malaysia Bhd | 14,200 | 96,551 | ||||||
Bursa Malaysia Bhd | 246,434 | 698,272 | ||||||
Cahya Mata Sarawak Bhd | 245,800 | 244,656 | ||||||
Carlsberg Brewery Malaysia Bhd Class B | 201,403 | 982,022 | ||||||
CIMB Group Holdings Bhd | 434,645 | 804,565 | ||||||
Coastal Contracts Bhd | 101,300 | 30,380 | ||||||
Dialog Group Bhd | 644,200 | 492,976 | ||||||
Eastern & Oriental Bhd | 568,541 | 211,660 | ||||||
Eco World Development Group Bhd (a) | 316,500 | 81,825 | ||||||
Genting Bhd | 503,700 | 1,132,934 | ||||||
Genting Malaysia Bhd | 558,200 | 699,915 | ||||||
IJM Corp. Bhd | 1,122,980 | 780,976 | ||||||
Inari Amertron Bhd | 434,208 | 314,318 | ||||||
IOI Corp. Bhd | 713,996 | 882,343 | ||||||
IOI Properties Group Bhd | 606,616 | 252,495 | ||||||
Karex Bhd | 397,425 | 83,739 | ||||||
KIP REIT | 479,100 | 97,232 | ||||||
KNM Group Bhd (a) | 860,300 | 46,707 | ||||||
Kuala Lumpur Kepong Bhd | 54,500 | 360,421 | ||||||
Land & General Bhd | 1,057,500 | 47,844 | ||||||
Lingkaran Trans Kota Holdings Bhd | 55,900 | 80,931 | ||||||
Malayan Banking Bhd | 505,011 | 1,373,505 | ||||||
Maxis Bhd | �� | 377,500 | 554,343 | |||||
Media Prima Bhd | 287,400 | 28,606 | ||||||
MKH Bhd | 142,500 | 51,945 | ||||||
Muhibbah Engineering M Bhd | 310,800 | 235,430 | ||||||
Nam Cheong, Ltd. (a) (b) (e) | 320,400 | 4,887 | ||||||
OSK Holdings Bhd | 1,315,587 | 333,318 | ||||||
Padini Holdings Bhd | 217,900 | 245,053 | ||||||
PPB Group Bhd | 107,800 | 533,426 | ||||||
Press Metal Aluminium Holdings Bhd | 498,740 | 585,388 | ||||||
Prestariang Bhd | 188,400 | 62,345 | ||||||
Public Bank Bhd | 193,520 | 1,200,745 | ||||||
Sapura Energy Bhd | 204,500 | 26,699 | ||||||
Sime Darby Bhd | 382,188 | 258,876 |
See accompanying notes to financial statements.
99
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SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Sime Darby Plantation Bhd (a) | 373,388 | $ | 530,929 | |||||
Sime Darby Property Bhd (a) | 349,388 | 128,266 | ||||||
TA Enterprise Bhd | 645,700 | 88,475 | ||||||
Telekom Malaysia Bhd | 139,809 | 188,316 | ||||||
Tenaga Nasional Bhd | 337,050 | 1,408,151 | ||||||
Yinson Holdings Bhd | 147,600 | 143,479 | ||||||
|
| |||||||
18,783,182 | ||||||||
|
| |||||||
PAKISTAN — 0.3% | ||||||||
Bank Alfalah, Ltd. | 329,000 | 149,618 | ||||||
Bank of Punjab (a) | 1,337,000 | 113,309 | ||||||
Cherat Cement Co., Ltd. | 86,500 | 98,883 | ||||||
Fauji Fertilizer Bin Qasim, Ltd. | 431,000 | 156,826 | ||||||
Habib Bank, Ltd. | 78,600 | 141,752 | ||||||
Hascol Petroleum, Ltd. | 96,300 | 223,476 | ||||||
Maple Leaf Cement Factory, Ltd. | 154,100 | 96,413 | ||||||
MCB Bank, Ltd. | 67,700 | 130,296 | ||||||
Nishat Mills, Ltd. | 94,600 | 130,186 | ||||||
Pioneer Cement, Ltd. | 144,100 | 87,908 | ||||||
Searle Co. Ltd. | 41,229 | 125,377 | ||||||
TRG Pakistan (a) | 348,000 | 115,196 | ||||||
|
| |||||||
1,569,240 | ||||||||
|
| |||||||
PHILIPPINES — 1.7% | ||||||||
Alliance Global Group, Inc. (a) | 819,600 | 207,345 | ||||||
Ayala Land, Inc. | 1,666,988 | 1,313,079 | ||||||
BDO Unibank, Inc. | 205,515 | 547,489 | ||||||
Belle Corp. | 1,493,200 | 106,172 | ||||||
Bloomberry Resorts Corp. (a) | 470,600 | 129,336 | ||||||
Cebu Air, Inc. | 64,910 | 117,685 | ||||||
Cosco Capital, Inc. | 1,879,700 | 266,586 | ||||||
D&L Industries, Inc. | 1,663,400 | 368,529 | ||||||
DoubleDragon Properties Corp. (a) | 537,970 | 328,901 | ||||||
First Gen Corp. | 1,217,070 | 396,535 | ||||||
First Philippine Holdings Corp. | 442,337 | 559,518 | ||||||
Globe Telecom, Inc. | 2,455 | 76,317 | ||||||
GT Capital Holdings, Inc. | 7,290 | 163,327 | ||||||
JG Summit Holdings, Inc. | 354,010 | 425,402 | ||||||
Jollibee Foods Corp. | 46,630 | 267,210 | ||||||
LT Group, Inc. | 558,600 | 201,268 | ||||||
Metro Pacific Investments Corp. | 1,333,100 | 133,878 | ||||||
Nickel Asia Corp. | 728,184 | 85,131 | ||||||
Philex Mining Corp. | 936,200 | 109,270 | ||||||
PLDT, Inc. | 22,869 | 644,290 | ||||||
Puregold Price Club, Inc. | 348,770 | 350,591 | ||||||
Robinsons Retail Holdings, Inc. | 177,080 | 303,066 | ||||||
SM Investments Corp. | 18,915 | 332,424 | ||||||
SM Prime Holdings, Inc. | 1,081,300 | 698,382 | ||||||
SSI Group, Inc. (a) | 1,956,000 | 103,090 | ||||||
Universal Robina Corp. | 98,830 | 287,905 | ||||||
|
| |||||||
8,522,726 | ||||||||
|
| |||||||
SINGAPORE — 0.0% (f) | ||||||||
SIIC Environment Holdings, Ltd. | 163,499 | 57,978 | ||||||
Silverlake Axis, Ltd. | 233,100 | 95,103 | ||||||
|
| |||||||
153,081 | ||||||||
|
| |||||||
TAIWAN — 20.4% | ||||||||
Acer, Inc. (a) | 742,395 | 616,180 |
Security Description | Shares | Value | ||||||
Advanced Semiconductor Engineering, Inc. | 1,080,797 | $ | 1,562,424 | |||||
Advantech Co., Ltd. | 50,898 | 364,841 | ||||||
Airtac International Group | 12,431 | 221,274 | ||||||
Asia Cement Corp. | 957,073 | 922,377 | ||||||
Asustek Computer, Inc. | 141,138 | 1,314,229 | ||||||
AU Optronics Corp. ADR (b) | 174,346 | 796,761 | ||||||
Catcher Technology Co., Ltd. | 141,539 | 1,754,856 | ||||||
Cathay Financial Holding Co., Ltd. | 1,377,604 | 2,447,436 | ||||||
Center Laboratories, Inc. (a) | 54,896 | 115,226 | ||||||
Chang Hwa Commercial Bank, Ltd. | 2,180,831 | 1,260,315 | ||||||
China Development Financial Holding Corp. | 3,416,272 | 1,206,832 | ||||||
China Life Insurance Co., Ltd. | 189,812 | 196,927 | ||||||
China Steel Chemical Corp. | 18,877 | 98,409 | ||||||
China Steel Corp. | 2,057,625 | 1,637,236 | ||||||
Chunghwa Telecom Co., Ltd. | 447,268 | 1,710,409 | ||||||
Compal Electronics, Inc. | 1,065,431 | 725,342 | ||||||
CTBC Financial Holding Co., Ltd. | 3,131,515 | 2,244,698 | ||||||
Delta Electronics, Inc. | 337,787 | 1,506,064 | ||||||
E.Sun Financial Holding Co., Ltd. | 501,476 | 337,104 | ||||||
Eclat Textile Co., Ltd. | 48,365 | 563,985 | ||||||
eMemory Technology, Inc. | 16,000 | 192,064 | ||||||
Epistar Corp. (a) | 229,170 | 327,363 | ||||||
Everlight Electronics Co., Ltd. | 173,996 | 267,346 | ||||||
Far Eastern New Century Corp. | 1,224,170 | 1,102,118 | ||||||
Far EasTone Telecommunications Co., Ltd. | 175,000 | 462,153 | ||||||
Feng TAY Enterprise Co., Ltd. | 46,902 | 213,140 | ||||||
Firich Enterprises Co., Ltd. (a) | 30,056 | 48,037 | ||||||
First Financial Holding Co., Ltd. | 2,633,258 | 1,828,839 | ||||||
Formosa Chemicals & Fibre Corp. | 716,691 | 2,679,265 | ||||||
Formosa Petrochemical Corp. | 225,000 | 914,446 | ||||||
Formosa Plastics Corp. | 939,137 | 3,317,595 | ||||||
Foxconn Technology Co., Ltd. | 259,519 | 695,148 | ||||||
Fubon Financial Holding Co., Ltd. | 1,155,998 | 1,986,333 | ||||||
Giant Manufacturing Co., Ltd. | 48,000 | 251,878 | ||||||
Himax Technologies, Inc. ADR (b) | 20,673 | 127,346 | ||||||
Hiwin Technologies Corp. | 33,614 | 478,438 | ||||||
Hon Hai Precision Industry Co., Ltd. | 2,050,950 | 6,330,744 | ||||||
Hotai Motor Co., Ltd. | 44,000 | 438,385 | ||||||
HTC Corp. (a) | 126,710 | 288,125 | ||||||
Hua Nan Financial Holdings Co., Ltd. | 2,605,212 | 1,563,645 | ||||||
Innolux Corp. | 1,020,753 | 446,363 | ||||||
Inventec Corp. | 392,000 | 310,567 | ||||||
King Yuan Electronics Co., Ltd. | 873,898 | 906,658 | ||||||
Largan Precision Co., Ltd. | 12,710 | 1,445,061 | ||||||
Lite-On Technology Corp. | 579,891 | 809,465 | ||||||
Macronix International (a) | 633,990 | 1,067,631 | ||||||
Makalot Industrial Co., Ltd. | 45,682 | 215,429 | ||||||
MediaTek, Inc. | 234,219 | 2,658,932 | ||||||
Medigen Biotechnology Corp. (a) | 14,000 | 18,726 | ||||||
Mega Financial Holding Co., Ltd. | 1,955,148 | 1,679,750 | ||||||
Merry Electronics Co., Ltd. | 49,000 | 280,653 |
See accompanying notes to financial statements.
100
Table of Contents
SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
MIN AIK Technology Co., Ltd. | 27,400 | $ | 21,943 | |||||
Motech Industries, Inc. (a) | 139,934 | 109,425 | ||||||
Nan Ya Plastics Corp. | 975,759 | 2,737,493 | ||||||
Novatek Microelectronics Corp. | 153,062 | 692,945 | ||||||
PChome Online, Inc. | 26,957 | 148,852 | ||||||
Pegatron Corp. | 368,630 | 917,877 | ||||||
Pou Chen Corp. | 245,000 | 325,188 | ||||||
Powertech Technology, Inc. | 242,518 | 756,075 | ||||||
President Chain Store Corp. | 56,000 | 562,746 | ||||||
ProMOS Technologies, Inc. (a) (d) | 2,232 | — | ||||||
Quanta Computer, Inc. | 587,194 | 1,184,176 | ||||||
Radiant Opto-Electronics Corp. | 46,000 | 112,803 | ||||||
Realtek Semiconductor Corp. | 173,161 | 745,334 | ||||||
Shin Kong Financial Holding Co., Ltd. | 2,664,980 | 1,009,981 | ||||||
Silicon Motion Technology Corp. ADR | 3,928 | 189,015 | ||||||
Siliconware Precision Industries Co., Ltd. | 451,763 | 788,652 | ||||||
SinoPac Financial Holdings Co., Ltd. | 3,420,795 | 1,208,430 | ||||||
Synnex Technology International Corp. | 235,000 | 350,602 | ||||||
Tainan Enterprises Co., Ltd. | 568,830 | 457,491 | ||||||
Taishin Financial Holding Co., Ltd. | 3,211,828 | 1,575,235 | ||||||
Taiwan Cement Corp. | 810,216 | 1,015,653 | ||||||
Taiwan FU Hsing Industrial Co., Ltd. | 223,000 | 281,456 | ||||||
Taiwan Mobile Co., Ltd. | 306,200 | 1,144,692 | ||||||
Taiwan Paiho, Ltd. | 30,000 | 83,445 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 486,082 | 21,270,948 | ||||||
Tatung Co., Ltd. (a) | 857,107 | 620,261 | ||||||
Teco Electric and Machinery Co., Ltd. | 170,000 | 140,224 | ||||||
TPK Holding Co., Ltd. (a) | 25,000 | 62,078 | ||||||
Tripod Technology Corp. | 416,361 | 1,400,865 | ||||||
Uni-President Enterprises Corp. | 895,971 | 2,098,804 | ||||||
United Integrated Services Co., Ltd. | 583,194 | 1,310,121 | ||||||
United Microelectronics Corp. ADR | 533,906 | 1,382,817 | ||||||
Walsin Lihwa Corp. | 568,000 | 346,757 | ||||||
Wistron Corp. | 861,873 | 737,515 | ||||||
Yageo Corp. | 78,341 | 1,397,171 | ||||||
Yuanta Financial Holding Co., Ltd. | 1,870,383 | 856,385 | ||||||
|
| |||||||
102,998,023 | ||||||||
|
| |||||||
THAILAND — 4.5% | ||||||||
Advanced Info Service PCL (e) | 198,402 | 1,307,029 | ||||||
Airports of Thailand PCL (e) | 409,500 | 864,311 | ||||||
Bangkok Expressway & Metro PCL (e) | 5,031,432 | 1,158,500 | ||||||
Beauty Community PCL (e) | 321,000 | 218,654 | ||||||
BEC World PCL (e) | 141,600 | 57,057 | ||||||
Bumrungrad Hospital PCL (e) | 41,700 | 276,044 | ||||||
Central Plaza Hotel PCL (e) | 57,500 | 88,264 |
Security Description | Shares | Value | ||||||
Charoen Pokphand Foods PCL (e) | 275,500 | $ | 222,462 | |||||
Chularat Hospital PCL (e) | 2,289,300 | 136,904 | ||||||
CP ALL PCL (e) | 875,700 | 2,436,390 | ||||||
Electricity Generating PCL (e) | 209,899 | 1,537,156 | ||||||
Energy Absolute PCL (e) | 269,800 | 377,478 | ||||||
Gunkul Engineering PCL (e) | 1,555,303 | 175,077 | ||||||
Hana Microelectronics PCL (e) | 122,400 | 127,215 | ||||||
Ichitan Group PCL (a) (e) | 158,800 | 40,881 | ||||||
Indorama Ventures PCL (e) | 197,300 | 358,068 | ||||||
IRPC PCL (e) | 3,540,439 | 820,856 | ||||||
Jasmine International PCL (e) | 728,125 | 143,203 | ||||||
Kasikornbank PCL (e) | 66,654 | 454,023 | ||||||
Kasikornbank PCL NVDR | 33,000 | 223,729 | ||||||
KCE Electronics PCL (e) | 187,100 | 400,886 | ||||||
Ladprao General Hospital PCL | 481,800 | 107,084 | ||||||
MC Group PCL (e) | 353,300 | 145,749 | ||||||
Mega Lifesciences PCL (e) | 269,600 | 381,509 | ||||||
Minor International PCL (e) | 377,786 | 459,094 | ||||||
Nok Airlines PCL (a) (e) | 1,754,000 | 173,886 | ||||||
PTG Energy PCL (e) | 210,000 | 109,466 | ||||||
PTT Exploration & Production PCL (e) | 365,432 | 1,338,086 | ||||||
PTT Global Chemical PCL NVDR | 92,600 | 280,584 | ||||||
PTT PCL (e) | 130,755 | 2,291,453 | ||||||
Siam Cement PCL NVDR | 58,000 | 916,278 | ||||||
Siam Commercial Bank PCL (e) | 280,597 | 1,269,731 | ||||||
Somboon Advance Technology PCL (e) | 196,300 | 129,946 | ||||||
Srisawad Corp. PCL (e) | 305,828 | 596,594 | ||||||
Superblock PCL NVDR (a) | 1,203,400 | 38,099 | ||||||
SVI PCL (e) | 1,144,700 | 159,606 | ||||||
Thai Beverage PCL | 1,162,700 | 691,608 | ||||||
Thai Oil PCL (e) | 457,064 | 1,326,465 | ||||||
Thai Union Group PCL Class F (e) | 255,600 | 152,853 | ||||||
TMB Bank PCL (e) | 2,352,300 | 189,568 | ||||||
True Corp. PCL NVDR | 1,694,983 | 376,723 | ||||||
|
| |||||||
22,558,569 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 503,633,806 | |||||||
|
| |||||||
WARRANTS — 0.0% (f) | ||||||||
THAILAND — 0.0% (f) | ||||||||
E for L Aim PCL (expiring 6/1/20) (a) | 272,340 | 87 | ||||||
Superblock PCL (expiring 8/31/20) (a) | 194,700 | 1,681 | ||||||
|
|
See accompanying notes to financial statements.
101
Table of Contents
SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SHORT-TERM INVESTMENT — 1.1% |
| |||||||
State Street Navigator Securities Lending Government Money Market Portfolio 0.00% (g) (h) | 5,463,090 | $ | 5,463,090 | |||||
|
| |||||||
TOTAL INVESTMENTS — 101.0% |
| 509,098,664 | ||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.0)% | (5,081,800 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% |
| $ | 504,016,864 | |||||
|
|
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.8% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(d) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $73,651, representing less than 0.05% of the Fund’s net assets. |
(e) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $20,069,598 representing 4.0% of net assets. |
(f) | Amount is less than 0.05% of net assets. |
(g) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(h) | Investment of cash collateral for securities loaned. |
ADR =American Depositary Receipt
ADS =American Depositary Shares
GDR =Global Depositary Receipt
NVDR =Non Voting Depositary Receipt
REIT =Real Estate Investment Trust
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
China | $ | 233,728,413 | $ | — | $28,554 | $233,756,967 | ||||||||||||||
Hong Kong | 9,764,386 | 14,598 | 45,097 | 9,824,081 | ||||||||||||||||
India | 87,991,853 | 125,649 | — | 88,117,502 | ||||||||||||||||
Indonesia | 17,328,784 | — | — | 17,328,784 | ||||||||||||||||
Macau | 21,651 | — | — | 21,651 | ||||||||||||||||
Malaysia | 18,778,295 | 4,887 | — | 18,783,182 | ||||||||||||||||
Pakistan | 1,569,240 | — | — | 1,569,240 | ||||||||||||||||
Philippines | 8,522,726 | — | — | 8,522,726 | ||||||||||||||||
Singapore | 153,081 | — | — | 153,081 | ||||||||||||||||
Taiwan | 102,998,023 | — | 0 | (a) | 102,998,023 |
See accompanying notes to financial statements.
102
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SPDR S&P EMERGING ASIA PACIFIC ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Thailand | $ | 2,634,105 | $ | 19,924,464 | $ | — | $ | 22,558,569 | ||||||||||||
Warrants | ||||||||||||||||||||
Thailand | 1,768 | — | — | 1,768 | ||||||||||||||||
Short-Term Investment | 5,463,090 | — | — | 5,463,090 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 488,955,415 | $ | 20,069,598 | $ | 73,651 | $ | 509,098,664 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held a Level 3 security that was valued at $0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 2,046,576 | $ | 2,046,576 | $ | 22,108,210 | $ | 24,154,786 | $ | — | $ | — | — | $ | — | $ | 9,790 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 5,790,699 | 5,790,699 | 24,268,294 | 24,595,903 | — | — | 5,463,090 | 5,463,090 | 78,229 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 7,837,275 | $ | 46,376,504 | $ | 48,750,689 | $ | — | $ | — | $ | 5,463,090 | $ | 88,019 | $ | — | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
103
Table of Contents
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.1% | ||||||||
AUSTRALIA — 1.3% | ||||||||
APA Group | 376,046 | $ | 2,272,955 | |||||
|
| |||||||
BELGIUM — 0.8% | ||||||||
Groupe Bruxelles Lambert SA | 12,622 | 1,440,550 | ||||||
|
| |||||||
CANADA — 19.5% | ||||||||
Bank of Montreal | 19,888 | 1,501,261 | ||||||
Bank of Nova Scotia | 26,333 | 1,620,932 | ||||||
Canadian Apartment Properties REIT | 52,256 | 1,505,767 | ||||||
Canadian Imperial Bank of Commerce (a) | 19,338 | 1,705,734 | ||||||
Canadian Utilities, Ltd. Class A | 60,031 | 1,601,292 | ||||||
Emera, Inc. | 58,346 | 1,844,625 | ||||||
Enbridge Income Fund Holdings, Inc. (a) | 143,233 | 3,101,854 | ||||||
First Capital Realty, Inc. | 111,576 | 1,761,157 | ||||||
Fortis, Inc. | 46,849 | 1,580,347 | ||||||
Great-West Lifeco, Inc. | 65,669 | 1,674,770 | ||||||
IGM Financial, Inc. (a) | 64,379 | 1,881,060 | ||||||
Laurentian Bank of Canada (a) | 46,097 | 1,693,352 | ||||||
National Bank of Canada | 32,973 | 1,550,888 | ||||||
Power Corp. of Canada | 76,674 | 1,748,470 | ||||||
Power Financial Corp. | 76,171 | 1,905,974 | ||||||
RioCan Real Estate Investment Trust | 131,972 | 2,419,871 | ||||||
Royal Bank of Canada | 18,300 | 1,412,617 | ||||||
Shaw Communications, Inc. Class B | 85,661 | 1,649,103 | ||||||
Sun Life Financial, Inc. | 35,611 | 1,461,453 | ||||||
TELUS Corp. | 50,838 | 1,783,914 | ||||||
|
| |||||||
35,404,441 | ||||||||
|
| |||||||
CHINA — 1.1% | ||||||||
Guangdong Investment, Ltd. | 1,310,347 | 2,060,278 | ||||||
|
| |||||||
DENMARK — 0.7% | ||||||||
Coloplast A/S Class B | 15,733 | 1,325,425 | ||||||
|
| |||||||
FINLAND — 1.6% | ||||||||
Fortum Oyj (a) | 136,251 | 2,924,068 | ||||||
|
| |||||||
FRANCE — 7.1% | ||||||||
Bouygues SA | 29,833 | 1,493,655 | ||||||
CNP Assurances | 74,149 | 1,869,440 | ||||||
Klepierre SA REIT | 50,032 | 2,015,169 | ||||||
Sanofi | 21,464 | 1,724,549 | ||||||
SCOR SE | 49,011 | 2,004,787 | ||||||
Societe BIC SA | 14,256 | 1,417,523 | ||||||
TOTAL SA (a) | 40,935 | 2,322,365 | ||||||
|
| |||||||
12,847,488 | ||||||||
|
| |||||||
GERMANY — 2.8% | ||||||||
Deutsche EuroShop AG | 47,305 | 1,733,707 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 9,012 | 2,093,102 | ||||||
Siemens AG | 9,471 | 1,205,792 | ||||||
|
| |||||||
5,032,601 | ||||||||
|
|
Security Description | Shares | Value | ||||||
HONG KONG — 4.5% | ||||||||
CK Infrastructure Holdings, Ltd. | 179,880 | $ | 1,470,293 | |||||
CLP Holdings, Ltd. | 159,296 | 1,621,721 | ||||||
Power Assets Holdings, Ltd. | 221,195 | 1,971,458 | ||||||
Sino Land Co., Ltd. | 921,607 | 1,491,330 | ||||||
Wharf Real Estate Investment Co., Ltd. (b) | 241,542 | 1,572,671 | ||||||
|
| |||||||
8,127,473 | ||||||||
|
| |||||||
ITALY — 1.7% | ||||||||
Atlantia SpA | 56,012 | 1,732,493 | ||||||
Hera SpA | 371,468 | 1,358,672 | ||||||
|
| |||||||
3,091,165 | ||||||||
|
| |||||||
JAPAN — 6.2% | ||||||||
Canon, Inc. | 43,116 | 1,560,852 | ||||||
Chugoku Electric Power Co., Inc. (a) | 167,200 | 2,031,240 | ||||||
Japan Tobacco, Inc. | 52,106 | 1,486,993 | ||||||
KDDI Corp. | 57,501 | 1,462,802 | ||||||
Lawson, Inc. (a) | 23,264 | 1,583,746 | ||||||
MS&AD Insurance Group Holdings, Inc. | 43,380 | 1,336,275 | ||||||
NTT DOCOMO, Inc. | 68,259 | 1,726,211 | ||||||
|
| |||||||
11,188,119 | ||||||||
|
| |||||||
MEXICO — 1.2% | ||||||||
Kimberly-Clark de Mexico SAB de CV Class A | 1,116,843 | 2,082,742 | ||||||
|
| |||||||
NORWAY — 0.8% | ||||||||
Orkla ASA | 127,820 | 1,369,869 | ||||||
|
| |||||||
PORTUGAL — 1.7% | ||||||||
EDP - Energias de Portugal SA | 830,445 | 3,153,846 | ||||||
|
| |||||||
SINGAPORE — 1.1% | ||||||||
Singapore Telecommunications, Ltd. | 795,703 | 2,044,932 | ||||||
|
| |||||||
SOUTH AFRICA — 5.3% | ||||||||
AVI, Ltd. | 181,834 | 1,700,673 | ||||||
Foschini Group, Ltd. | 105,955 | 2,000,838 | ||||||
SPAR Group, Ltd. | 89,561 | 1,531,088 | ||||||
Truworths International, Ltd. (a) | 273,854 | 2,485,285 | ||||||
Woolworths Holdings, Ltd. | 389,210 | 1,970,891 | ||||||
|
| |||||||
9,688,775 | ||||||||
|
| |||||||
SOUTH KOREA — 0.8% | ||||||||
SK Telecom Co., Ltd. | 6,392 | 1,379,266 | ||||||
|
| |||||||
SPAIN — 4.6% | ||||||||
Abertis Infraestructuras SA | 79,537 | 1,782,255 | ||||||
Enagas SA | 92,089 | 2,517,674 | ||||||
Red Electrica Corp. SA | 95,871 | 1,972,584 | ||||||
Tecnicas Reunidas SA (a) | 70,866 | 2,090,839 | ||||||
|
| |||||||
8,363,352 | ||||||||
|
| |||||||
SWEDEN — 3.7% | ||||||||
Castellum AB | 94,115 | 1,533,971 | ||||||
Hennes & Mauritz AB Class B (a) | 131,733 | 1,969,042 | ||||||
Intrum Justitia AB (a) | 33,283 | 940,689 |
See accompanying notes to financial statements.
104
Table of Contents
SPDR S&P GLOBAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Skanska AB Class B | 107,156 | $ | 2,183,476 | |||||
|
| |||||||
6,627,178 | ||||||||
|
| |||||||
SWITZERLAND — 2.7% | ||||||||
Baloise Holding AG | 9,250 | 1,411,263 | ||||||
PSP Swiss Property AG | 17,012 | 1,655,721 | ||||||
Swiss Prime Site AG (b) | 19,609 | 1,893,120 | ||||||
|
| |||||||
4,960,104 | ||||||||
|
| |||||||
UNITED KINGDOM — 10.1% | ||||||||
Ashmore Group PLC | 312,518 | 1,668,551 | ||||||
BAE Systems PLC | 205,011 | 1,672,045 | ||||||
Carillion PLC (a)(c) | 1,083,104 | — | ||||||
Close Brothers Group PLC | 90,822 | 1,828,263 | ||||||
GlaxoSmithKline PLC | 142,611 | 2,788,763 | ||||||
Greene King PLC | 366,640 | 2,424,517 | ||||||
IG Group Holdings PLC | 183,417 | 2,051,946 | ||||||
Pennon Group PLC | 199,211 | 1,798,002 | ||||||
RPC Group PLC | 116,000 | 1,258,188 | ||||||
Tate & Lyle PLC | 193,351 | 1,477,134 | ||||||
Unilever NV | 24,089 | 1,358,939 | ||||||
|
| |||||||
18,326,348 | ||||||||
|
| |||||||
UNITED STATES — 19.8% | ||||||||
AT&T, Inc. | 60,615 | 2,160,925 | ||||||
Brinker International, Inc. (a) | 45,416 | 1,639,518 | ||||||
CenterPoint Energy, Inc. | 62,746 | 1,719,240 | ||||||
Compass Minerals International, Inc. (a) | 24,480 | 1,476,144 | ||||||
Edison International | 27,835 | 1,771,976 | ||||||
International Business Machines Corp. | 10,715 | 1,644,002 | ||||||
L Brands, Inc. | 34,618 | 1,322,754 | ||||||
Mercury General Corp. | 39,820 | 1,826,543 | ||||||
National Health Investors, Inc. REIT | 32,073 | 2,158,192 | ||||||
Northwest Bancshares, Inc. | 99,730 | 1,651,529 | ||||||
OGE Energy Corp. | 57,031 | 1,868,906 | ||||||
Owens & Minor, Inc. | 107,449 | 1,670,832 | ||||||
Philip Morris International, Inc. | 16,787 | 1,668,628 | ||||||
PPL Corp. | 72,225 | 2,043,245 | ||||||
SCANA Corp. | 63,381 | 2,379,957 | ||||||
Southern Co. | 48,803 | 2,179,542 | ||||||
Tupperware Brands Corp. | 30,085 | 1,455,512 |
Security Description | Shares | Value | ||||||
United Bankshares, Inc. | 48,080 | $ | 1,694,820 | |||||
Verizon Communications, Inc. | 37,657 | 1,800,758 | ||||||
Waddell & Reed Financial, Inc. Class A (a) | 88,308 | 1,784,705 | ||||||
|
| |||||||
35,917,728 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 179,628,703 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 10.6% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (d) (e) | 176,711 | 176,711 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (d) (f) | 18,986,384 | 18,986,384 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 19,163,095 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 109.7% | 198,791,798 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (9.7)% | (17,648,470 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 181,143,328 | ||||||
|
|
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Non-income producing security. |
(c) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the security is $0, representing 0.0% of the Fund’s net assets. |
(d) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(e) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(f) | Investment of cash collateral for securities loaned. |
REIT =Real Estate Investment Trust
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | $ | 2,272,955 | $ | — | $ | — | $ | 2,272,955 | ||||||||||||
Belgium | 1,440,550 | — | — | 1,440,550 | ||||||||||||||||
Canada | 35,404,441 | — | — | 35,404,441 | ||||||||||||||||
China | 2,060,278 | — | — | 2,060,278 | ||||||||||||||||
Denmark | 1,325,425 | — | — | 1,325,425 | ||||||||||||||||
Finland | 2,924,068 | — | — | 2,924,068 |
See accompanying notes to financial statements.
105
Table of Contents
SPDR S&P GLOBAL DIVIDEND ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
France | $ | 12,847,488 | $ | — | $ | — | $ | 12,847,488 | ||||||||||||
Germany | 5,032,601 | — | — | 5,032,601 | ||||||||||||||||
Hong Kong | 8,127,473 | — | — | 8,127,473 | ||||||||||||||||
Italy | 3,091,165 | — | — | 3,091,165 | ||||||||||||||||
Japan | 11,188,119 | — | — | 11,188,119 | ||||||||||||||||
Mexico | 2,082,742 | — | — | 2,082,742 | ||||||||||||||||
Norway | 1,369,869 | — | — | 1,369,869 | ||||||||||||||||
Portugal | 3,153,846 | — | — | 3,153,846 | ||||||||||||||||
Singapore | 2,044,932 | — | — | 2,044,932 | ||||||||||||||||
South Africa | 9,688,775 | — | — | 9,688,775 | ||||||||||||||||
South Korea | 1,379,266 | — | — | 1,379,266 | ||||||||||||||||
Spain | 8,363,352 | — | — | 8,363,352 | ||||||||||||||||
Sweden | 6,627,178 | — | — | 6,627,178 | ||||||||||||||||
Switzerland | 4,960,104 | — | — | 4,960,104 | ||||||||||||||||
United Kingdom | 18,326,348 | — | 0 | (a) | 18,326,348 | |||||||||||||||
United States | 35,917,728 | — | — | 35,917,728 | ||||||||||||||||
Short-Term Investments | 19,163,095 | — | — | 19,163,095 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 198,791,798 | $ | — | $ | 0 | $ | 198,791,798 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held a Level 3 security that was valued at $0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 150,675 | $ | 150,675 | $ | 8,026,932 | $ | 8,000,896 | $ | — | $ | — | 176,711 | $ | 176,711 | $ | 2,082 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 5,848,371 | 5,848,371 | 62,061,870 | 48,923,857 | — | — | 18,986,384 | 18,986,384 | 65,255 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 5,999,046 | $ | 70,088,802 | $ | 56,924,753 | $ | — | $ | — | $ | 19,163,095 | $ | 67,337 | $ | — | ||||||||||||||||||||||||||||||||||
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
106
Table of Contents
SPDR S&P GLOBAL INFRASTRUCTURE ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.9% | ||||||||
AUSTRALIA — 8.2% | ||||||||
Macquarie Atlas Roads Group | 423,773 | $ | 1,878,818 | |||||
Qube Holdings, Ltd. (a) | 875,853 | 1,464,574 | ||||||
Sydney Airport | 708,909 | 3,648,688 | ||||||
Transurban Group Stapled Security | 1,218,091 | 10,670,125 | ||||||
|
| |||||||
17,662,205 | ||||||||
|
| |||||||
BRAZIL — 1.0% | ||||||||
Cia de Saneamento Basico do Estadode Sao Paulo ADR | 38,300 | 405,597 | ||||||
Ultrapar Participacoes SA ADR | 76,249 | 1,648,503 | ||||||
|
| |||||||
2,054,100 | ||||||||
|
| |||||||
CANADA — 9.7% | ||||||||
AltaGas, Ltd. (a) | 30,972 | 572,715 | ||||||
Enbridge, Inc. (b) | 272,801 | 8,573,897 | ||||||
Enbridge, Inc. (b) | 25,122 | 790,589 | ||||||
Inter Pipeline, Ltd. | 66,962 | 1,161,350 | ||||||
Pembina Pipeline Corp. | 88,419 | 2,756,985 | ||||||
TransCanada Corp. | 154,896 | 6,401,287 | ||||||
Westshore Terminals Investment Corp. (a) | 31,902 | 551,310 | ||||||
|
| |||||||
20,808,133 | ||||||||
|
| |||||||
CHILE — 0.3% | ||||||||
Enel Americas SA ADR | 63,146 | 733,757 | ||||||
|
| |||||||
CHINA — 3.5% | ||||||||
Beijing Capital International Airport Co., Ltd. Class H | 918,000 | 1,232,843 | ||||||
Beijing Enterprises Water Group, Ltd. | 580,000 | 323,688 | ||||||
China Merchants Port Holdings Co., Ltd. | 800,074 | 1,763,602 | ||||||
China Resources Power Holdings Co., Ltd. | 200,000 | 364,920 | ||||||
COSCO SHIPPING Ports, Ltd. | 452,725 | 380,717 | ||||||
Guangdong Investment, Ltd. | 322,000 | 506,285 | ||||||
Jiangsu Expressway Co., Ltd. Class H | 786,000 | 1,111,655 | ||||||
Kunlun Energy Co., Ltd. | 596,000 | 514,114 | ||||||
Shenzhen International Holdings, Ltd. | 613,500 | 1,342,957 | ||||||
|
| |||||||
7,540,781 | ||||||||
|
| |||||||
FRANCE — 5.5% | ||||||||
Aeroports de Paris | 20,985 | 4,568,089 | ||||||
Engie SA | 181,187 | 3,020,500 | ||||||
Getlink SE | 300,407 | 4,285,686 | ||||||
|
| |||||||
11,874,275 | ||||||||
|
| |||||||
GERMANY — 2.5% | ||||||||
E.ON SE | 246,795 | 2,737,759 | ||||||
Fraport AG Frankfurt Airport Services Worldwide | 23,735 | 2,338,159 | ||||||
Hamburger Hafen und Logistik AG | 13,504 | 303,094 | ||||||
|
| |||||||
5,379,012 | ||||||||
|
| |||||||
HONG KONG — 2.5% | ||||||||
China Gas Holdings, Ltd. | 256,200 | 931,987 |
Security Description | Shares | Value | ||||||
CLP Holdings, Ltd. | 221,000 | $ | 2,249,901 | |||||
Hong Kong & China Gas Co., Ltd. | 909,200 | 1,867,450 | ||||||
Hopewell Highway Infrastructure, Ltd. | 653,500 | 398,846 | ||||||
|
| |||||||
5,448,184 | ||||||||
|
| |||||||
ITALY — 8.9% | ||||||||
Ansaldo STS SpA (c) | 34,699 | 535,993 | ||||||
ASTM SpA | 22,901 | 575,970 | ||||||
Atlantia SpA | 302,200 | 9,347,269 | ||||||
Enav SpA (d) | 163,614 | 872,091 | ||||||
Enel SpA | 865,489 | 5,290,177 | ||||||
Snam SpA | 393,759 | 1,807,760 | ||||||
Societa Iniziative Autostradali e Servizi SpA | 43,856 | 816,057 | ||||||
|
| |||||||
19,245,317 | ||||||||
|
| |||||||
MEXICO — 2.7% | ||||||||
Grupo Aeroportuario del Centro Norte SAB de CV ADR | 27,615 | 1,088,307 | ||||||
Grupo Aeroportuario del Pacifico SAB de CV ADR | 24,228 | 2,414,078 | ||||||
Grupo Aeroportuario del Sureste SAB de CV | 12,988 | 2,215,363 | ||||||
|
| |||||||
5,717,748 | ||||||||
|
| |||||||
NETHERLANDS — 0.3% | ||||||||
Koninklijke Vopak NV | 11,683 | 572,578 | ||||||
|
| |||||||
NEW ZEALAND — 1.2% | ||||||||
Auckland International Airport, Ltd. | 600,443 | 2,650,936 | ||||||
|
| |||||||
SINGAPORE — 0.6% | ||||||||
Hutchison Port Holdings Trust | 3,358,570 | 990,778 | ||||||
SIA Engineering Co., Ltd. | 158,100 | 383,404 | ||||||
|
| |||||||
1,374,182 | ||||||||
|
| |||||||
SPAIN — 12.3% | ||||||||
Abertis Infraestructuras SA | 481,971 | 10,799,946 | ||||||
Aena SME SA (d) | 47,230 | 9,505,747 | ||||||
Enagas SA | 39,860 | 1,089,756 | ||||||
Iberdrola SA | 678,580 | 4,983,944 | ||||||
|
| |||||||
26,379,393 | ||||||||
|
| |||||||
SWITZERLAND — 1.2% | ||||||||
Flughafen Zurich AG | 12,231 | 2,692,455 | ||||||
|
| |||||||
UNITED KINGDOM — 4.3% | ||||||||
BBA Aviation PLC | 577,693 | 2,596,482 | ||||||
National Grid PLC | 404,900 | 4,556,446 | ||||||
SSE PLC | 114,642 | 2,052,061 | ||||||
|
| |||||||
9,204,989 | ||||||||
|
| |||||||
UNITED STATES — 35.2% | ||||||||
American Electric Power Co., Inc. | 55,187 | 3,785,276 | ||||||
Cheniere Energy, Inc. (c) | 35,536 | 1,899,399 | ||||||
Consolidated Edison, Inc. | 34,806 | 2,712,780 | ||||||
Dominion Energy, Inc. | 73,095 | 4,928,796 | ||||||
DTE Energy Co. | 20,101 | 2,098,544 | ||||||
Duke Energy Corp. | 78,483 | 6,080,078 | ||||||
Edison International | 36,561 | 2,327,473 | ||||||
Eversource Energy | 35,573 | 2,095,961 |
See accompanying notes to financial statements.
107
Table of Contents
SPDR S&P GLOBAL INFRASTRUCTURE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Exelon Corp. | 108,243 | $ | 4,222,559 | |||||
Kinder Morgan, Inc. | 333,427 | 5,021,411 | ||||||
Macquarie Infrastructure Corp. | 51,243 | 1,892,404 | ||||||
NextEra Energy, Inc. | 52,712 | 8,609,451 | ||||||
ONEOK, Inc. | 72,204 | 4,109,852 | ||||||
PG&E Corp. | 57,710 | 2,535,200 | ||||||
PPL Corp. | 77,789 | 2,200,651 | ||||||
Public Service Enterprise Group, Inc. | 56,576 | 2,842,378 | ||||||
Sempra Energy | 28,630 | 3,184,229 | ||||||
Southern Co. | 113,000 | 5,046,580 | ||||||
Targa Resources Corp. | 37,939 | 1,669,316 | ||||||
WEC Energy Group, Inc. | 35,334 | 2,215,442 | ||||||
Williams Cos., Inc. | 145,378 | 3,614,097 | ||||||
Xcel Energy, Inc. | 56,968 | 2,590,905 | ||||||
|
| |||||||
75,682,782 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 215,020,827 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 1.1% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (e) (f) | 498,865 | 498,865 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (e) (g) | 1,861,333 | 1,861,333 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 2,360,198 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 101.0% | 217,381,025 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.0)% | (2,146,964 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 215,234,061 | ||||||
|
|
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(c) | Non-income producing security. |
(d) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 4.8% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(e) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(f) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(g) | Investment of cash collateral for securities loaned. |
ADR =American Depositary Receipt
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | $ | 17,662,205 | $ | — | $ | — | $ | 17,662,205 | ||||||||||||
Brazil | 2,054,100 | — | — | 2,054,100 | ||||||||||||||||
Canada | 20,808,133 | — | — | 20,808,133 | ||||||||||||||||
Chile | 733,757 | — | — | 733,757 | ||||||||||||||||
China | 7,540,781 | — | — | 7,540,781 | ||||||||||||||||
France | 11,874,275 | — | — | 11,874,275 | ||||||||||||||||
Germany | 5,379,012 | — | — | 5,379,012 | ||||||||||||||||
Hong Kong | 5,448,184 | — | — | 5,448,184 | ||||||||||||||||
Italy | 19,245,317 | — | — | 19,245,317 | ||||||||||||||||
Mexico | 5,717,748 | — | — | 5,717,748 | ||||||||||||||||
Netherlands | 572,578 | — | — | 572,578 |
See accompanying notes to financial statements.
108
Table of Contents
SPDR S&P GLOBAL INFRASTRUCTURE ETF
SCHEDULE OF INVESTMENTS (continued)
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
New Zealand | $ | 2,650,936 | $ | — | $ | — | $ | 2,650,936 | ||||||||||||
Singapore | 1,374,182 | — | — | 1,374,182 | ||||||||||||||||
Spain | 26,379,393 | — | — | 26,379,393 | ||||||||||||||||
Switzerland | 2,692,455 | — | — | 2,692,455 | ||||||||||||||||
United Kingdom | 9,204,989 | — | — | 9,204,989 | ||||||||||||||||
United States | 75,682,782 | — | — | 75,682,782 | ||||||||||||||||
Short-Term Investments | 2,360,198 | — | — | 2,360,198 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 217,381,025 | $ | — | $ | — | $ | 217,381,025 | ||||||||||||
|
|
|
|
|
|
|
|
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 403,650 | $ | 403,650 | $ | 5,120,757 | $ | 5,025,542 | $ | — | $ | — | 498,865 | $ | 498,865 | $ | 2,654 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 7,104,926 | 7,104,926 | 41,502,918 | 46,746,511 | — | — | 1,861,333 | 1,861,333 | 21,619 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 7,508,576 | $ | 46,623,675 | $ | 51,772,053 | $ | — | $ | — | $ | 2,360,198 | $ | 24,273 | $ | — | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
109
Table of Contents
[This Page Intentionally Left Blank]
110
Table of Contents
STATEMENTS OF ASSETS AND LIABILITIES
March 31, 2018 (Unaudited)
SPDR EURO STOXX Small Cap ETF | SPDR MSCI ACWI IMI ETF | SPDR MSCI ACWI Low Carbon Target ETF | SPDR MSCI Canada StrategicFactorsSM ETF | |||||||||||||||||
ASSETS | ||||||||||||||||||||
Investments in unaffiliated issuers, at value* | $ | 41,459,472 | $ | 92,296,168 | $ | 150,190,625 | $ | 40,039,442 | ||||||||||||
Investments in affiliated issuers, at value | 2,033,277 | 2,037,015 | 2,799,610 | 1,638,885 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total Investments | 43,492,749 | 94,333,183 | 152,990,235 | 41,678,327 | ||||||||||||||||
Foreign currency, at value | 65,907 | 163,212 | 461,508 | 111,952 | ||||||||||||||||
Cash at broker | — | — | — | — | ||||||||||||||||
Cash | — | 18,757 | 23,806 | — | ||||||||||||||||
Receivable from broker — variation margin on open futures contracts | — | — | — | — | ||||||||||||||||
Receivable for investments sold | 133,654 | — | — | — | ||||||||||||||||
Dividends receivable — unaffiliated issuers | 61,031 | 210,914 | 312,706 | 75,641 | ||||||||||||||||
Dividends receivable — affiliated issuers | 2 | 226 | 355 | 13 | ||||||||||||||||
Securities lending income receivable — unaffiliated issuers | 1,768 | 808 | 755 | 1,769 | ||||||||||||||||
Securities lending income receivable — affiliated issuers | 2,874 | 2,115 | 1,660 | 370 | ||||||||||||||||
Receivable from Adviser | — | — | 39,152 | — | ||||||||||||||||
Receivable for foreign taxes recoverable | 21,700 | 18,309 | 45,113 | — | ||||||||||||||||
Other Receivable | — | — | 1,382 | — | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL ASSETS | 43,779,685 | 94,747,524 | 153,876,672 | 41,868,072 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
LIABILITIES | ||||||||||||||||||||
Payable upon return of securities loaned | 2,031,488 | 1,690,862 | 2,338,517 | 1,622,347 | ||||||||||||||||
Payable for investments purchased | 137,348 | — | 341 | 104,521 | ||||||||||||||||
Deferred foreign taxes payable | — | — | 8,836 | — | ||||||||||||||||
Advisory fee payable | 46,043 | 59,129 | 115,377 | 30,532 | ||||||||||||||||
Trustees’ fees and expenses payable | 89 | 119 | 174 | 9 | ||||||||||||||||
Accrued expenses and other liabilities | — | 2 | 943 | 1 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL LIABILITIES | 2,214,968 | 1,750,112 | 2,464,188 | 1,757,410 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS | $ | 41,564,717 | $ | 92,997,412 | $ | 151,412,484 | $ | 40,110,662 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||
Paid-in Capital | $ | 40,755,717 | $ | 80,213,859 | $ | 125,301,986 | $ | 36,615,459 | ||||||||||||
Undistributed (distribution in excess of) net investment income (loss) | 67,143 | 255,546 | 386,824 | 130,545 | ||||||||||||||||
Accumulated net realized gain (loss) on investments, foreign currency transactions and futures contracts | (1,530,675 | ) | 336,508 | (385,878 | ) | (256,666 | ) | |||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||
Investments — unaffiliated issuers** | 2,271,307 | 12,155,557 | 26,086,609 | 3,621,483 | ||||||||||||||||
Investments — affiliated issuers | — | 33,583 | 27,058 | — | ||||||||||||||||
Foreign currency translations | 1,225 | 2,359 | 4,721 | (159 | ) | |||||||||||||||
Futures contracts | — | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS | $ | 41,564,717 | $ | 92,997,412 | $ | 151,412,484 | $ | 40,110,662 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||
Net asset value per share | $ | 63.95 | $ | 77.50 | $ | 89.07 | $ | 57.30 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 650,000 | 1,200,000 | 1,700,000 | 700,000 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||
Investments in unaffiliated issuers | $ | 39,188,165 | $ | 80,140,611 | $ | 124,104,016 | $ | 36,417,959 | ||||||||||||
Investments in affiliated issuers | 2,033,277 | 2,003,432 | 2,772,552 | 1,638,885 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total cost of investments | $ | 41,221,442 | $ | 82,144,043 | $ | 126,876,568 | $ | 38,056,844 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Foreign currency, at cost | $ | 66,341 | $ | 161,625 | $ | 459,651 | $ | 112,232 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
* Includes investments in securities on loan, at value | $ | 2,475,440 | $ | 3,793,645 | $ | 4,619,461 | $ | 1,639,034 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
** Includes deferred foreign taxes | $ | — | $ | — | $ | 8,836 | $ | — | ||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
111
Table of Contents
SPDR MSCI China A Shares IMI ETF | SPDR MSCI EAFE Fossil Fuel Reserves Free ETF | SPDR MSCI EAFE StrategicFactorsSM ETF | SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | SPDR MSCI Emerging Markets StrategicFactorsSM ETF | SPDR MSCI Germany StrategicFactorsSM ETF | SPDR MSCI Japan StrategicFactorsSM ETF | |||||||||||||||||||||||||||
$ | 2,342,527 | $ | 71,040,467 | $ | 255,506,669 | $ | 22,797,634 | $ | 319,067,791 | $ | 9,485,798 | $ | 23,753,961 | ||||||||||||||||||||
749 | 2,113,826 | 6,433,128 | 1,629,908 | 6,299,509 | 4,859 | 2,580,068 | |||||||||||||||||||||||||||
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|
| ||||||||||||||||||||
2,343,276 | 73,154,293 | 261,939,797 | 24,427,542 | 325,367,300 | 9,490,657 | 26,334,029 | |||||||||||||||||||||||||||
39,214 | 152,664 | 1,186,029 | 286,225 | 1,172,257 | 9,188 | 43,426 | |||||||||||||||||||||||||||
— | — | — | 91,459 | — | — | — | |||||||||||||||||||||||||||
— | — | — | — | 1 | — | — | |||||||||||||||||||||||||||
— | — | — | | 21,798 | — | — | — | ||||||||||||||||||||||||||
— | — | 1,175 | — | — | — | — | |||||||||||||||||||||||||||
— | 254,406 | 899,013 | 60,769 | 599,421 | — | 200,033 | |||||||||||||||||||||||||||
1 | 31 | 227 | 1,498 | 565 | 6 | 15 | |||||||||||||||||||||||||||
— | 460 | 1,966 | 438 | 2,129 | — | 121 | |||||||||||||||||||||||||||
— | 2,749 | 7,286 | 309 | 2,957 | — | 515 | |||||||||||||||||||||||||||
— | 14,477 | — | — | — | — | — | |||||||||||||||||||||||||||
— | 45,454 | 136,433 | 518 | 458 | 90,372 | 6,646 | |||||||||||||||||||||||||||
— | 1,382 | — | 1,382 | — | — | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
2,382,491 | 73,625,916 | 264,171,926 | 24,891,938 | 327,145,088 | 9,590,223 | 26,584,785 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
— | 2,106,482 | 6,204,945 | 434,013 | 5,879,993 | — | 2,568,084 | |||||||||||||||||||||||||||
— | 58,158 | 755,557 | 1,398 | 18,676 | — | — | |||||||||||||||||||||||||||
— | — | — | — | 43,221 | — | — | |||||||||||||||||||||||||||
3,934 | 42,741 | 176,004 | 18,628 | 202,414 | 10,275 | 15,438 | |||||||||||||||||||||||||||
25 | 68 | 17 | 7 | 154 | 7 | 24 | |||||||||||||||||||||||||||
23 | 841 | — | 752 | 3 | — | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
3,982 | 2,208,290 | 7,136,523 | 454,798 | 6,144,461 | 10,282 | 2,583,546 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | 2,378,509 | $ | 71,417,626 | $ | 257,035,403 | $ | 24,437,140 | $ | 321,000,627 | $ | 9,579,941 | $ | 24,001,239 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | 2,495,938 | $ | 65,883,046 | $ | 239,716,682 | $ | 21,441,692 | $ | 285,286,461 | $ | 9,952,810 | $ | 23,409,033 | ||||||||||||||||||||
(7,453 | ) | 325,130 | 1,522,319 | | 28,470 | 479,253 | (23,503 | ) | 161,275 | ||||||||||||||||||||||||
(61,414 | ) | 30,644 | (157,693 | ) | | (40,155 | ) | (5,366,941 | ) | (757,433 | ) | (255,757 | ) | ||||||||||||||||||||
(49,412 | ) | 5,177,593 | 15,949,930 | 2,979,748 | 40,643,283 | 400,090 | 686,577 | ||||||||||||||||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||||||||||
850 | 1,213 | 4,165 | 7,948 | 1,792 | 7,977 | 111 | |||||||||||||||||||||||||||
— | — | — | 19,437 | — | — | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | 2,378,509 | $ | 71,417,626 | $ | 257,035,403 | $ | 24,437,140 | $ | 321,000,627 | $ | 9,579,941 | $ | 24,001,239 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | 23.79 | $ | 71.42 | $ | 64.26 | $ | 69.82 | $ | 64.85 | $ | 63.87 | $ | 80.00 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
100,000 | 1,000,000 | 4,000,000 | 350,000 | 4,950,000 | 150,000 | 300,000 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | 2,391,939 | $ | 65,862,874 | $ | 239,556,739 | $ | 19,817,886 | $ | 278,424,508 | $ | 9,085,708 | $ | 23,067,384 | ||||||||||||||||||||
749 | 2,113,826 | 6,433,128 | 1,629,908 | 6,299,509 | 4,859 | 2,580,068 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | 2,392,688 | $ | 67,976,700 | $ | 245,989,867 | $ | 21,447,794 | $ | 284,724,017 | $ | 9,090,567 | $ | 25,647,452 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | 38,364 | $ | 153,228 | $ | 1,187,385 | $ | 278,499 | $ | 1,170,980 | $ | 9,237 | $ | 43,423 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | — | $ | 2,635,868 | $ | 6,524,858 | $ | 1,703,020 | $ | 10,839,683 | $ | — | $ | 2,558,616 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | 43,221 | $ | — | $ | — | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
112
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF ASSETS AND LIABILITIES (continued)
March 31, 2018 (Unaudited)
SPDR MSCI United Kingdom StrategicFactorsSM ETF | SPDR MSCI World StrategicFactorsSM ETF | SPDR S&P Emerging Asia Pacific ETF | SPDR S&P Global Dividend ETF | |||||||||||||||||
ASSETS | ||||||||||||||||||||
Investments in unaffiliated issuers, at value* | $ | 18,364,405 | $ | 29,530,078 | $ | 503,635,574 | $ | 179,628,703 | ||||||||||||
Investments in affiliated issuers, at value | 144,088 | 405,574 | 5,463,090 | 19,163,095 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total Investments | 18,508,493 | 29,935,652 | 509,098,664 | 198,791,798 | ||||||||||||||||
Foreign currency, at value | 31,969 | 60,158 | 912,492 | 551,452 | ||||||||||||||||
Cash | — | 4,917 | 39,360 | 28,016 | ||||||||||||||||
Receivable for investments sold | — | — | — | — | ||||||||||||||||
Dividends receivable — unaffiliated issuers | 74,498 | 65,342 | 361,844 | 870,098 | ||||||||||||||||
Dividends receivable — affiliated issuers | 2 | 20 | 1,184 | 349 | ||||||||||||||||
Securities lending income receivable — unaffiliated issuers | — | 147 | 18,004 | — | ||||||||||||||||
Securities lending income receivable — affiliated issuers | 28 | 371 | 16,388 | 23,937 | ||||||||||||||||
Receivable for foreign taxes recoverable | 299 | 7,873 | — | 45,404 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL ASSETS | 18,615,289 | 30,074,480 | 510,447,936 | 200,311,054 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
LIABILITIES | ||||||||||||||||||||
Payable upon return of securities loaned | 142,395 | 376,622 | 5,463,090 | 18,986,384 | ||||||||||||||||
Payable for investments purchased | — | — | 132,111 | — | ||||||||||||||||
Deferred foreign taxes payable | — | — | 224,169 | — | ||||||||||||||||
Advisory fee payable | 7,939 | 21,905 | 610,674 | 181,215 | ||||||||||||||||
Trustees’ fees and expenses payable | — | — | 1,022 | 127 | ||||||||||||||||
Accrued expenses and other liabilities | — | 1 | 6 | — | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL LIABILITIES | 150,334 | 398,528 | 6,431,072 | 19,167,726 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS | $ | 18,464,955 | $ | 29,675,952 | $ | 504,016,864 | $ | 181,143,328 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||
Paid-in Capital | $ | 19,118,628 | $ | 27,198,597 | $ | 469,519,269 | $ | 192,214,157 | ||||||||||||
Undistributed (distribution in excess of) net investment income (loss) | 47,373 | 156,145 | (2,256,616 | ) | (46,936 | ) | ||||||||||||||
Accumulated net realized gain (loss) on investments, foreign currency transactions and futures contracts | (533,234 | ) | 123,922 | (62,585,744 | ) | (6,425,618 | ) | |||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||
Investments — unaffiliated issuers** | (168,054 | ) | 2,194,964 | 99,568,765 | (4,603,895 | ) | ||||||||||||||
Investments — affiliated issuers | — | 2,194 | — | — | ||||||||||||||||
Foreign currency translations | 242 | 130 | (4,641 | ) | 5,620 | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS | $ | 18,464,955 | $ | 29,675,952 | $ | 504,016,864 | $ | 181,143,328 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||
Net asset value per share | $ | 52.76 | $ | 74.19 | $ | 105.00 | $ | 68.36 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 350,000 | 400,000 | 4,800,000 | 2,650,000 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||
Investments in unaffiliated issuers | $ | 18,532,459 | $ | 27,335,114 | $ | 404,066,809 | $ | 184,232,598 | ||||||||||||
Investments in affiliated issuers | 144,088 | 403,380 | 5,463,090 | 19,163,095 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total cost of investments | $ | 18,676,547 | $ | 27,738,494 | $ | 409,529,899 | $ | 203,395,693 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Foreign currency, at cost | $ | 32,082 | $ | 60,278 | $ | 917,805 | $ | 549,865 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
* Includes investments in securities on loan, at value | $ | 137,431 | $ | 572,178 | $ | 40,115,235 | $ | 23,861,240 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
** Includes deferred foreign taxes | $ | — | $ | — | $ | 224,169 | $ | — | ||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
113
Table of Contents
SPDR S&P Global Infrastructure ETF | |||
$ | 215,020,827 | ||
2,360,198 | |||
|
| ||
217,381,025 | |||
429,267 | |||
41,922 | |||
7,088,003 | |||
269,733 | |||
474 | |||
354 | |||
2,194 | |||
20,576 | |||
|
| ||
225,233,548 | |||
|
| ||
1,861,333 | |||
7,942,197 | |||
— | |||
195,892 | |||
65 | |||
— | |||
|
| ||
9,999,487 | |||
|
| ||
$ | 215,234,061 | ||
|
| ||
$ | 237,431,902 | ||
| 1,172,955 | ||
| (25,254,551 | ) | |
1,879,240 | |||
— | |||
4,515 | |||
|
| ||
$ | 215,234,061 | ||
|
| ||
$ | 48.92 | ||
|
| ||
| 4,400,000 | ||
|
| ||
$ | 213,141,587 | ||
2,360,198 | |||
|
| ||
$ | 215,501,785 | ||
|
| ||
$ | 425,916 | ||
|
| ||
$ | 8,656,106 | ||
|
| ||
$ | — | ||
|
|
114
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS
For the Six Months Ended March 31, 2018 (Unaudited)
SPDR EURO STOXX Small Cap ETF | SPDR MSCI ACWI IMI ETF | SPDR MSCI ACWI Low Carbon Target ETF | SPDR MSCI Canada StrategicFactorsSM ETF | |||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||
Dividend income — unaffiliated issuers | $ | 184,810 | $ | 982,676 | $ | 1,511,853 | $ | 562,099 | ||||||||||||
Dividend income — affiliated issuers | 42 | 2,324 | 2,288 | 202 | ||||||||||||||||
Unaffiliated securities lending income | 1,834 | 2,549 | 3,453 | 1,775 | ||||||||||||||||
Affiliated securities lending income | 3,651 | 6,970 | 4,991 | 591 | ||||||||||||||||
Foreign taxes withheld | (23,921 | ) | (42,296 | ) | (71,547 | ) | (84,315 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENT INCOME (LOSS) | 166,416 | 952,223 | 1,451,038 | 480,352 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
EXPENSES | ||||||||||||||||||||
Advisory fee | 74,926 | 117,550 | 228,774 | 60,136 | ||||||||||||||||
Trustees’ fees and expenses | 195 | 816 | 1,286 | 319 | ||||||||||||||||
Miscellaneous expenses | 210 | 101 | — | 2 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL EXPENSES | 75,331 | 118,467 | 230,060 | 60,457 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Expenses waived/reimbursed by the Adviser | — | — | (77,544 | ) | — | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET EXPENSES | 75,331 | 118,467 | 152,516 | 60,457 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET INVESTMENT INCOME (LOSS) | 91,085 | 833,756 | 1,298,522 | 419,895 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||
Investments — unaffiliated issuers* | 971,784 | 315,492 | 459,636 | 273,614 | ||||||||||||||||
Investments — affiliated issuers | — | — | 6,070 | — | ||||||||||||||||
In-kind redemptions — unaffiliated issuers | — | — | — | — | ||||||||||||||||
Foreign currency transactions | 100 | (1,504 | ) | (12,926 | ) | (4,199 | ) | |||||||||||||
Futures contracts | — | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net realized gain (loss) | 971,884 | 313,988 | 452,780 | 269,415 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net change in unrealized appreciation/depreciation on: | ||||||||||||||||||||
Investments — unaffiliated issuers** | (659,697 | ) | 2,936,445 | 4,879,219 | (1,954,539 | ) | ||||||||||||||
Investments — affiliated issuers | — | 5,212 | (1,310 | ) | — | |||||||||||||||
Foreign currency translations | (7 | ) | 2,519 | 3,744 | 1,376 | |||||||||||||||
Futures contracts | — | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net change in unrealized appreciation/depreciation | (659,704 | ) | 2,944,176 | 4,881,653 | (1,953,163 | ) | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) | 312,180 | 3,258,164 | 5,334,433 | (1,683,748 | ) | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | 403,265 | $ | 4,091,920 | $ | 6,632,955 | $ | (1,263,853 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||||||
* Includes foreign capital gain taxes | $ | — | $ | — | $ | (1 | ) | $ | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||||||
** Includes foreign deferred taxes | $ | — | $ | — | $ | 2,935 | $ | — | ||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
115
Table of Contents
SPDR MSCI China A Shares IMI ETF | SPDR MSCI EAFE Fossil Fuel Reserves Free ETF | SPDR MSCI EAFE StrategicFactorsSM ETF | SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | SPDR MSCI Emerging Markets StrategicFactorsSM ETF | SPDR MSCI Germany StrategicFactorsSM ETF | SPDR MSCI Japan StrategicFactorsSM ETF | |||||||||||||||||||||||||||
507 | $ | 662,175 | $ | 2,680,629 | $ | 171,689 | $ | 2,101,130 | $ | 37,420 | $ | 255,903 | |||||||||||||||||||||
6 | 313 | 1,651 | 7,371 | 2,997 | 29 | 114 | |||||||||||||||||||||||||||
— | 1,081 | 2,592 | 1,098 | 7,117 | 28 | 176 | |||||||||||||||||||||||||||
— | 4,886 | 15,935 | 1,465 | 12,523 | — | 617 | |||||||||||||||||||||||||||
(50 | ) | (57,271 | ) | (215,651 | ) | (23,769 | ) | (234,624 | ) | (5,411 | ) | (25,588 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
463 | 611,184 | 2,485,156 | 157,854 | 1,889,143 | 32,066 | 231,222 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
7,855 | 80,253 | 323,703 | 33,686 | 373,428 | 24,919 | 25,348 | |||||||||||||||||||||||||||
22 | 395 | 1,469 | 145 | 1,828 | 151 | 118 | |||||||||||||||||||||||||||
39 | — | 565 | 860 | 28 | — | 1 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
7,916 | 80,648 | 325,737 | 34,691 | 375,284 | 25,070 | 25,467 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
— | (27,146 | ) | — | — | — | — | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
7,916 | 53,502 | 325,737 | 34,691 | 375,284 | 25,070 | 25,467 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
(7,453 | ) | 557,682 | 2,159,419 | 123,163 | 1,513,859 | 6,996 | 205,755 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
(1,065 | ) | 23,297 | 67,970 | 7,554 | 1,410,813 | 227,130 | (2,458 | ) | |||||||||||||||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||||||||||
— | — | 4,152,487 | — | — | 1,893,039 | 892,635 | |||||||||||||||||||||||||||
251 | 7,480 | 16,042 | 3,289 | (77,804 | ) | 409 | 2,776 | ||||||||||||||||||||||||||
— | — | — | (17,389 | ) | — | — | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
(814 | ) | 30,777 | 4,236,499 | (6,546 | ) | 1,333,009 | 2,120,578 | 892,953 | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
|
| ||||||||||||||||||||||||||||||||
28,676 | (105,733 | ) | (3,541,354 | ) | 1,387,132 | 14,308,358 | (1,335,755 | ) | (321,810 | ) | |||||||||||||||||||||||
— | — | — | — | — | — | — | |||||||||||||||||||||||||||
767 | 206 | 1,132 | 8,674 | 6,264 | 2,683 | 825 | |||||||||||||||||||||||||||
— | — | — | 35,575 | — | — | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
| 29,443 | (105,527 | ) | (3,540,222 | ) | 1,431,381 | 14,314,622 | (1,333,072 | ) | (320,985 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
| 28,629 | (74,750 | ) | 696,277 | 1,424,835 | 15,647,631 | 787,506 | 571,968 | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | 21,176 | $ | 482,932 | $ | 2,855,696 | $ | 1,547,998 | $ | 17,161,490 | $ | 794,502 | $ | 777,723 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | 34,538 | $ | — | $ | — | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
116
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended March 31, 2018 (Unaudited)
SPDR MSCI United Kingdom StrategicFactorsSM ETF | SPDR MSCI World StrategicFactorsSM ETF | SPDR S&P Emerging Asia Pacific ETF | SPDR S&P Global Dividend ETF | |||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||
Dividend income — unaffiliated issuers | $ | 141,777 | $ | 190,696 | $ | 1,184,932 | $ | 3,502,674 | ||||||||||||
Dividend income — affiliated issuers | 9 | 358 | 9,790 | 2,082 | ||||||||||||||||
Dividend income — non-cash | 9,548 | 107,838 | — | — | ||||||||||||||||
Unaffiliated securities lending income | 1 | 355 | 87,346 | 16,336 | ||||||||||||||||
Affiliated securities lending income | 61 | 792 | 78,229 | 65,255 | ||||||||||||||||
Foreign taxes withheld | (1,124 | ) | (12,593 | ) | (62,532 | ) | (261,547 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENT INCOME (LOSS) | 150,272 | 287,446 | 1,297,765 | 3,324,800 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
EXPENSES | ||||||||||||||||||||
Advisory fee | 11,922 | 38,690 | 1,158,739 | 355,356 | ||||||||||||||||
Trustees’ fees and expenses | 55 | 206 | 3,705 | 1,407 | ||||||||||||||||
Miscellaneous expenses | 1 | 29 | 20 | 1,199 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL EXPENSES | 11,978 | 38,925 | 1,162,464 | 357,962 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET INVESTMENT INCOME (LOSS) | 138,294 | 248,521 | 135,301 | 2,966,838 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||
Investments — unaffiliated issuers | (105,001 | ) | 126,279 | 611,742 | (518,821 | ) | ||||||||||||||
In-kind redemptions — unaffiliated issuers | — | — | — | 16,127,913 | ||||||||||||||||
Foreign currency transactions | 2,044 | 3,169 | (5,038 | ) | (13,636 | ) | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net realized gain (loss) | (102,957 | ) | 129,448 | 606,704 | 15,595,456 | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net change in unrealized appreciation/depreciation on: | ||||||||||||||||||||
Investments — unaffiliated issuers* | (97,485 | ) | 390,524 | 32,160,584 | (13,984,977 | ) | ||||||||||||||
Investments — affiliated issuers | — | 393 | — | — | ||||||||||||||||
Foreign currency translations | (450 | ) | (135 | ) | 870 | 7,522 | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net change in unrealized appreciation/depreciation | (97,935 | ) | 390,782 | 32,161,454 | (13,977,455 | ) | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (200,892 | ) | 520,230 | 32,768,158 | 1,618,001 | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ | (62,598 | ) | $ | 768,751 | $ | 32,903,459 | $ | 4,584,839 | |||||||||||
|
|
|
|
|
|
|
| |||||||||||||
* Includes foreign deferred taxes | $ | — | $ | — | $ | (81,404 | ) | $ | — | |||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
117
Table of Contents
SPDR S&P Global Infrastructure ETF | |||
3,092,703 | |||
2,654 | |||
299,239 | |||
2,110 | |||
21,619 | |||
(239,748 | ) | ||
|
| ||
3,178,577 | |||
|
| ||
379,194 | |||
1,463 | |||
414 | |||
|
| ||
381,071 | |||
|
| ||
2,797,506 | |||
|
| ||
|
| ||
(1,339,048 | ) | ||
1,281,487 | |||
(13,371 | ) | ||
|
| ||
(70,932 | ) | ||
|
| ||
|
| ||
(11,152,612 | ) | ||
— | |||
4,493 | |||
|
| ||
| (11,148,119 | ) | |
|
| ||
| (11,219,051 | ) | |
|
| ||
$ | (8,421,545 | ) | |
|
| ||
$ | — | ||
|
|
118
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS
SPDR EURO STOXX Small Cap ETF | SPDR MSCI ACWI IMI ETF | |||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||
Net investment income (loss) | $ | 91,085 | $ | 237,931 | $ | 833,756 | $ | 1,928,550 | ||||||||||||
Net realized gain (loss) | 971,884 | 515,016 | 313,988 | 3,826,936 | ||||||||||||||||
Net change in unrealized appreciation/depreciation | (659,704 | ) | 3,288,061 | 2,944,176 | 9,476,943 | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) in net assets resulting from operations | 403,265 | 4,041,008 | 4,091,920 | 15,232,429 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net equalization credits and charges | (161 | ) | 1,847 | — | — | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||
Net investment income | (63,478 | ) | (243,975 | ) | (1,415,842 | ) | (1,770,932 | ) | ||||||||||||
Return of capital | — | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total distributions to shareholders | (63,478 | ) | (243,975 | ) | (1,415,842 | ) | (1,770,932 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS | ||||||||||||||||||||
Proceeds from sale of shares sold | 22,456,335 | 3,117,605 | — | 26,144,694 | ||||||||||||||||
Cost of shares redeemed | — | — | — | (14,167,487 | ) | |||||||||||||||
Net income equalization | 161 | (1,847 | ) | — | — | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 22,456,496 | 3,115,758 | — | 11,977,207 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) in net assets during the period | 22,796,122 | 6,914,638 | 2,676,078 | 25,438,704 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net assets at beginning of period | 18,768,595 | 11,853,957 | 90,321,334 | 64,882,630 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS AT END OF PERIOD | $ | 41,564,717 | $ | 18,768,595 | $ | 92,997,412 | $ | 90,321,334 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 67,143 | $ | 39,536 | $ | 255,546 | $ | 837,631 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||
Shares sold | 350,000 | 50,000 | — | 400,000 | ||||||||||||||||
Shares redeemed | — | — | — | (200,000 | ) | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) | 350,000 | 50,000 | — | 200,000 | ||||||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
119
Table of Contents
SPDR MSCI ACWI Low Carbon Target ETF | SPDR MSCI Canada StrategicFactorsSM ETF | SPDR MSCI China A Shares IMI ETF | ||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||||||||||||||||||
|
| |||||||||||||||||||||||||||
$ | 1,298,522 | $ | 2,942,232 | $ | 419,895 | $ | 602,610 | $ | (7,453 | ) | $ | 13,085 | ||||||||||||||||
452,780 | (99,729 | ) | 269,415 | (252,542 | ) | (814 | ) | (25,119 | ) | |||||||||||||||||||
4,881,653 | 19,444,957 | (1,953,163 | ) | 4,182,781 | 29,443 | 242,801 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
| 6,632,955 | 22,287,460 | (1,263,853 | ) | 4,532,849 | 21,176 | 230,767 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
— | 276,534 | 1,053 | 48,731 | — | — | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
(1,453,991 | ) | (2,915,464 | ) | (457,120 | ) | (529,524 | ) | — | (12,958 | ) | ||||||||||||||||||
— | — | — | — | — | (7,669 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
(1,453,991 | ) | (2,915,464 | ) | (457,120 | ) | (529,524 | ) | — | (20,627 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
— | 30,178,050 | 3,078,897 | 16,319,215 | — | — | |||||||||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||||||||
— | (276,534 | ) | (1,053 | ) | (48,731 | ) | — | — | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
— | | 29,901,516 | 3,077,844 | 16,270,484 | — | — | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
5,178,964 | 49,550,046 | 1,357,924 | 20,322,540 | 21,176 | 210,140 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
146,233,520 | 96,683,474 | 38,752,738 | 18,430,198 | 2,357,333 | 2,147,193 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
$ | 151,412,484 | $ | 146,233,520 | $ | 40,110,662 | $ | 38,752,738 | $ | 2,378,509 | $ | 2,357,333 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
$ | 386,824 | $ | 542,293 | $ | 130,545 | $ | 167,770 | $ | (7,453 | ) | $ | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
— | 400,000 | 50,000 | 300,000 | — | — | |||||||||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
— | 400,000 | 50,000 | 300,000 | — | — | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
120
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF | SPDR MSCI EAFE StrategicFactorsSM ETF | |||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | For the Period 10/25/16* - 9/30/17 | Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||
Net investment income (loss) | $ | 557,682 | $ | 886,180 | $ | 2,159,419 | $ | 3,428,424 | ||||||||||||
Net realized gain (loss) | 30,777 | 180,696 | 4,236,499 | 3,033 | ||||||||||||||||
Net change in unrealized appreciation/depreciation | (105,527 | ) | 5,284,333 | (3,540,222 | ) | 19,736,059 | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) in net assets resulting from operations | 482,932 | 6,351,209 | 2,855,696 | 23,167,516 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net equalization credits and charges | 17,605 | 10,704 | — | — | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||
Net investment income | (324,489 | ) | (803,032 | ) | (1,791,234 | ) | (2,367,462 | ) | ||||||||||||
Net realized gains | (172,040 | ) | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total distributions to shareholders | (496,529 | ) | (803,032 | ) | (1,791,234 | ) | (2,367,462 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS | ||||||||||||||||||||
Proceeds from sale of shares sold | 25,451,322 | 40,431,724 | 82,745,464 | 163,529,104 | ||||||||||||||||
Cost of shares redeemed | — | — | (19,418,576 | ) | — | |||||||||||||||
Net income equalization | (17,605 | ) | (10,704 | ) | — | — | ||||||||||||||
Other capital | — | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 25,433,717 | 40,421,020 | 63,326,888 | 163,529,104 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) in net assets during the period | 25,437,725 | 45,979,901 | 64,391,350 | 184,329,158 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net assets at beginning of period | 45,979,901 | — | 192,644,053 | 8,314,895 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS AT END OF PERIOD | $ | 71,417,626 | $ | 45,979,901 | $ | 257,035,403 | $ | 192,644,053 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 325,130 | $ | 91,937 | $ | 1,522,319 | $ | 1,154,134 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||
Shares sold | 350,000 | 650,000 | 1,250,000 | 2,900,000 | ||||||||||||||||
Shares redeemed | — | — | (300,000 | ) | — | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) | 350,000 | 650,000 | 950,000 | 2,900,000 | ||||||||||||||||
|
|
|
|
|
|
|
|
* | Inception date. |
See accompanying notes to financial statements.
121
Table of Contents
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | SPDR MSCI Emerging Markets StrategicFactorsSM ETF | SPDR MSCI Germany StrategicFactorsSM ETF | ||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | For the Period 10/25/16* - 9/30/17 | Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||||||||||||||||||
|
| |||||||||||||||||||||||||||
$ | 123,163 | $ | 211,804 | $ | 1,513,859 | $ | 4,025,325 | $ | 6,996 | $ | 283,624 | |||||||||||||||||
(6,546 | ) | 92,836 | 1,333,009 | (753,946 | ) | 2,120,578 | (626,389 | ) | ||||||||||||||||||||
| 1,431,381 | 1,575,752 | 14,314,622 | 22,801,699 | (1,333,072 | ) | 1,979,796 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
| 1,547,998 | 1,880,392 | 17,161,490 | 26,073,078 | 794,502 | 1,637,031 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
(3,808 | ) | 26,909 | — | — | (10,668 | ) | 117,483 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
|
| |||||||||||||||||||||||||||
(70,747 | ) | (231,170 | ) | (3,448,499 | ) | (2,754,029 | ) | (30,499 | ) | (389,383 | ) | |||||||||||||||||
(131,111 | ) | — | — | — | — | — | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
(201,858 | ) | (231,170 | ) | (3,448,499 | ) | (2,754,029 | ) | (30,499 | ) | (389,383 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
|
| |||||||||||||||||||||||||||
6,769,731 | 14,664,269 | 93,263,625 | 74,051,529 | — | 11,900,436 | |||||||||||||||||||||||
— | — | — | — | (10,101,079 | ) | (7,261,821 | ) | |||||||||||||||||||||
3,808 | (26,909 | ) | — | — | 10,668 | (117,483 | ) | |||||||||||||||||||||
3,156 | 4,622 | 79,048 | 35,154 | — | — | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
| 6,776,695 | 14,641,982 | 93,342,673 | 74,086,683 | (10,090,411 | ) | 4,521,132 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
| 8,119,027 | 16,318,113 | 107,055,664 | 97,405,732 | (9,337,076 | ) | 5,886,263 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
16,318,113 | — | 213,944,963 | 116,539,231 | 18,917,017 | 13,030,754 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
$ | 24,437,140 | $ | 16,318,113 | $ | 321,000,627 | $ | 213,944,963 | $ | 9,579,941 | $ | 18,917,017 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
$ | 28,470 | $ | (23,946 | ) | $ | 479,253 | $ | 2,413,893 | $ | (23,503 | ) | $ | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
100,000 | 250,000 | 1,425,000 | 1,350,000 | — | 200,000 | |||||||||||||||||||||||
— | — | — | — | (150,000 | ) | (150,000 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
100,000 | 250,000 | 1,425,000 | 1,350,000 | (150,000 | ) | 50,000 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
122
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR MSCI Japan StrategicFactorsSM ETF | SPDR MSCI United Kingdom StrategicFactorsSM ETF | |||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||
Net investment income (loss) | $ | 205,755 | $ | 229,671 | $ | 138,294 | $ | 239,185 | ||||||||||||
Net realized gain (loss) | 892,953 | 782,617 | (102,957 | ) | 125,843 | |||||||||||||||
Net change in unrealized appreciation/depreciation | (320,985 | ) | 587,322 | (97,935 | ) | 400,819 | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) in net assets resulting from operations | 777,723 | 1,599,610 | (62,598 | ) | 765,847 | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net equalization credits and charges | (6,813 | ) | (1,004 | ) | 58,683 | 124,450 | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||
Net investment income | (146,582 | ) | (216,441 | ) | (87,042 | ) | (329,690 | ) | ||||||||||||
Net realized gains | — | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total distributions to shareholders | (146,582 | ) | (216,441 | ) | (87,042 | ) | (329,690 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS | ||||||||||||||||||||
Proceeds from sale of shares sold | 15,939,799 | 6,962,943 | 13,315,872 | 10,254,196 | ||||||||||||||||
Cost of shares redeemed | (7,466,856 | ) | (6,935,724 | ) | — | (7,804,799 | ) | |||||||||||||
Net income equalization | 6,813 | 1,004 | (58,683 | ) | (124,450 | ) | ||||||||||||||
Other capital | — | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 8,479,756 | 28,223 | 13,257,189 | 2,324,947 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) in net assets during the period | 9,104,084 | 1,410,388 | 13,166,232 | 2,885,554 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net assets at beginning of period | 14,897,155 | 13,486,767 | 5,298,723 | 2,413,169 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS AT END OF PERIOD | $ | 24,001,239 | $ | 14,897,155 | $ | 18,464,955 | $ | 5,298,723 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 161,275 | $ | 102,102 | $ | 47,373 | $ | (4,993 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||
Shares sold | 200,000 | 100,000 | 250,000 | 200,000 | ||||||||||||||||
Shares redeemed | (100,000 | ) | (100,000 | ) | — | (150,000 | ) | |||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase (decrease) | 100,000 | — | 250,000 | 50,000 | ||||||||||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
123
Table of Contents
SPDR MSCI World StrategicFactorsSM ETF | SPDR S&P Emerging Asia Pacific ETF | SPDR S&P Global Dividend ETF | ||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||||||||||||||||||
|
| |||||||||||||||||||||||||||
$ | 248,521 | $ | 523,246 | $ | 135,301 | $ | 6,803,975 | $ | 2,966,838 | $ | 4,815,094 | |||||||||||||||||
129,448 | 1,695,548 | 606,704 | (2,099,858 | ) | 15,595,456 | 2,573,035 | ||||||||||||||||||||||
| 390,782 | 1,458,613 | 32,161,454 | 66,181,801 | (13,977,455 | ) | 7,158,254 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
| 768,751 | 3,677,407 | 32,903,459 | 70,885,918 | 4,584,839 | 14,546,383 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
— | — | — | — | 4,720 | 194,504 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
|
| |||||||||||||||||||||||||||
(257,129 | ) | (400,647 | ) | (6,080,034 | ) | (7,047,374 | ) | (3,118,194 | ) | (4,751,992 | ) | |||||||||||||||||
(110,118 | ) | — | — | — | — | — | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
(367,247 | ) | (400,647 | ) | (6,080,034 | ) | (7,047,374 | ) | (3,118,194 | ) | (4,751,992 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
|
| |||||||||||||||||||||||||||
7,668,909 | 19,119,111 | 63,512,781 | 29,445,089 | 83,089,999 | 57,947,434 | |||||||||||||||||||||||
— | (7,165,424 | ) | — | (15,502,785 | ) | (69,138,491 | ) | (6,314,476 | ) | |||||||||||||||||||
— | — | — | — | (4,720 | ) | (194,504 | ) | |||||||||||||||||||||
— | — | 27,902 | 13,499 | — | — | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
| 7,668,909 | 11,953,687 | 63,540,683 | 13,955,803 | 13,946,788 | 51,438,454 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
8,070,413 | 15,230,447 | 90,364,108 | 77,794,347 | 15,418,153 | 61,427,349 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
21,605,539 | 6,375,092 | 413,652,756 | 335,858,409 | 165,725,175 | 104,297,826 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
$ | 29,675,952 | $ | 21,605,539 | $ | 504,016,864 | $ | 413,652,756 | $ | 181,143,328 | $ | 165,725,175 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
$ | 156,145 | $ | 164,753 | $ | (2,256,616 | ) | $ | 3,688,117 | $ | (46,936 | ) | $ | 104,420 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
|
| |||||||||||||||||||||||||||
100,000 | 300,000 | 600,000 | 300,000 | 1,150,000 | 900,000 | |||||||||||||||||||||||
— | (100,000 | ) | — | (200,000 | ) | (950,000 | ) | (100,000 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
100,000 | 200,000 | 600,000 | 100,000 | 200,000 | 800,000 | |||||||||||||||||||||||
|
|
|
|
|
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|
|
|
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|
|
124
Table of Contents
SPDR INDEX SHARES FUNDS
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P Global Infrastructure ETF | ||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | |||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||
Net investment income (loss) | $ | 2,797,506 | $ | 4,524,990 | ||||
Net realized gain (loss) | (70,932 | ) | (420,266 | ) | ||||
Net change in unrealized appreciation/depreciation | (11,148,119 | ) | 13,120,650 | |||||
|
|
|
| |||||
Net increase (decrease) in net assets resulting from operations | (8,421,545 | ) | 17,225,374 | |||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (3,041,099 | ) | (3,938,322 | ) | ||||
|
|
|
| |||||
FROM BENEFICIAL INTEREST TRANSACTIONS | ||||||||
Proceeds from sale of shares sold | 50,626,303 | 91,715,714 | ||||||
Cost of shares redeemed | (5,306,624 | ) | (9,475,992 | ) | ||||
Other capital | 76 | — | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets from beneficial interest transactions | 45,319,755 | 82,239,722 | ||||||
|
|
|
| |||||
Net increase (decrease) in net assets during the period | 33,857,111 | 95,526,774 | ||||||
|
|
|
| |||||
Net assets at beginning of period | 181,376,950 | 85,850,176 | ||||||
|
|
|
| |||||
NET ASSETS AT END OF PERIOD | $ | 215,234,061 | $ | 181,376,950 | ||||
|
|
|
| |||||
Undistributed (distribution in excess of) net investment income (loss) | $ | 1,172,955 | $ | 1,416,548 | ||||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST: | ||||||||
Shares sold | 1,000,000 | 1,900,000 | ||||||
Shares redeemed | (100,000 | ) | (200,000 | ) | ||||
|
|
|
| |||||
Net increase (decrease) | 900,000 | 1,700,000 | ||||||
|
|
|
|
See accompanying notes to financial statements.
125
Table of Contents
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR EURO STOXX Small Cap ETF | |||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | For the Period 6/4/14* - 9/30/14 | |||||||||||||||||||||
Net asset value, beginning of period | $ | 62.56 | $ | 47.42 | $ | 46.83 | $ | 50.65 | $ | 60.00 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Income (loss) from investment operations: | |||||||||||||||||||||||||
Net investment income (loss) (a) | 0.18 | 0.94 | 1.00 | 1.18 | 0.16 | ||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 1.35 | 15.17 | 0.43 | (4.00 | ) | (9.47 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total from investment operations | 1.53 | 16.11 | 1.43 | (2.82 | ) | (9.31 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net equalization credits and charges (a) | (0.00 | )(c) | 0.01 | (0.04 | ) | 0.40 | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Voluntary contribution from Adviser | — | — | — | — | 0.07 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Distributions to shareholders from: | |||||||||||||||||||||||||
Net investment income | (0.14 | ) | (0.98 | ) | (0.80 | ) | (1.40 | ) | (0.11 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net asset value, end of period | $ | 63.95 | $ | 62.56 | $ | 47.42 | $ | 46.83 | $ | 50.65 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total return (d) | 2.43 | % | 34.30 | % | 3.14 | % | (4.97 | )% | (15.43 | )%(e) | |||||||||||||||
Ratios and Supplemental Data: | |||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 41,565 | $ | 18,769 | $ | 11,854 | $ | 11,708 | $ | 7,598 | |||||||||||||||
Ratios to average net assets: | |||||||||||||||||||||||||
Total expenses | 0.45 | %(f) | 0.45 | % | 0.45 | % | 0.46 | % | 0.45 | %(f) | |||||||||||||||
Net investment income (loss) | 0.55 | %(f) | 1.79 | % | 2.13 | % | 2.33 | % | 0.89 | %(f) | |||||||||||||||
Portfolio turnover rate (g) | 25 | %(h) | 40 | % | 53 | % | 46 | % | 30 | %(h) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than 0.005%. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | If the Adviser had not made a contribution during the period ended September 30, 2014, the total return would have been (15.54)%. |
(f) | Annualized. |
(g) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(h) | Not annualized. |
See accompanying notes to financial statements.
126
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI ACWI IMI ETF | ||||||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||||||||
Net asset value, beginning of period | $ | 75.27 | $ | 64.88 | $ | 58.64 | $ | 63.82 | $ | 58.20 | $ | 50.04 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||
Net investment income (loss) (a) | 0.69 | 1.55 | 1.53 | 1.74 | 1.48 | 1.30 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 2.72 | 10.34 | 6.12 | (5.17 | ) | 5.39 | 8.16 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total from investment operations | 3.41 | 11.89 | 7.65 | (3.43 | ) | 6.87 | 9.46 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||
Net investment income | (1.18 | ) | (1.50 | ) | (1.41 | ) | (1.75 | ) | (1.21 | ) | (1.28 | ) | ||||||||||||||||||
Net realized gains | — | — | — | (0.00 | )(c) | (0.04 | ) | (0.02 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total distributions | (1.18 | ) | (1.50 | ) | (1.41 | ) | (1.75 | ) | (1.25 | ) | (1.30 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net asset value, end of period | $ | 77.50 | $ | 75.27 | $ | 64.88 | $ | 58.64 | $ | 63.82 | $ | 58.20 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total return (d) | 4.51 | % | 18.58 | % | 13.20 | % | (5.61 | )% | 11.77 | % | 19.15 | % | ||||||||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 92,997 | $ | 90,321 | $ | 64,883 | $ | 35,186 | $ | 57,434 | $ | 5,820 | ||||||||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||||||||
Total expenses | 0.25 | %(e) | 0.25 | % | 0.25 | % | 0.25 | % | 0.25 | % | 0.25 | % | ||||||||||||||||||
Net investment income (loss) | 1.77 | %(e) | 2.25 | % | 2.48 | % | 2.70 | % | 2.31 | % | 2.40 | % | ||||||||||||||||||
Portfolio turnover rate (f) | 1 | %(g) | 2 | % | 2 | % | 3 | % | 0 | %(h) | 0 | %(h) |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
(h) | Amount is less than 0.5%. |
See accompanying notes to financial statements.
127
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI ACWI Low Carbon Target ETF | ||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | For the Period 11/26/14* - 9/30/15 | |||||||||||||||||
Net asset value, beginning of period | $ | 86.02 | $ | 74.37 | $ | 67.90 | $ | 75.00 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income (loss) (a) | 0.76 | 1.82 | 1.69 | 1.53 | ||||||||||||||||
Net realized and unrealized gain (loss) (b) | 3.15 | 11.37 | 6.47 | (7.64 | ) | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total from investment operations | 3.91 | 13.19 | 8.16 | (6.11 | ) | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net equalization credits and charges (a) | — | 0.17 | 0.02 | 0.03 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.86 | ) | (1.71 | ) | (1.66 | ) | (1.02 | ) | ||||||||||||
Net realized gains | — | — | (0.05 | ) | — | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total distributions | (0.86 | ) | (1.71 | ) | (1.71 | ) | (1.02 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net asset value, end of period | $ | 89.07 | $ | 86.02 | $ | 74.37 | $ | 67.90 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total return (c) | 4.52 | % | 18.16 | % | 12.22 | % | (8.25 | )% | ||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 151,412 | $ | 146,234 | $ | 96,683 | $ | 81,474 | ||||||||||||
Ratios to average net assets: | ||||||||||||||||||||
Total expenses | 0.30 | %(d) | 0.30 | % | 0.30 | % | 0.30 | %(d) | ||||||||||||
Net expenses | 0.20 | %(d) | 0.20 | % | 0.20 | % | 0.20 | %(d) | ||||||||||||
Net investment income (loss) | 1.70 | %(d) | 2.28 | % | 2.38 | % | 2.42 | %(d) | ||||||||||||
Portfolio turnover rate (e) | 10 | %(f) | 12 | % | 12 | % | 4 | %(f) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(d) | Annualized. |
(e) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(f) | Not annualized. |
See accompanying notes to financial statements.
128
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI Canada StrategicFactorsSM ETF | |||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | For the Period 6/11/14* - 9/30/14 | |||||||||||||||||||||
Net asset value, beginning of period | $ | 59.62 | $ | 52.66 | $ | 46.60 | $ | 59.82 | $ | 60.00 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Income (loss) from investment operations: | |||||||||||||||||||||||||
Net investment income (loss) (a) | 0.62 | 1.17 | 1.13 | 1.18 | 0.39 | ||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | (2.24 | ) | 6.80 | 5.90 | (13.19 | ) | (0.55 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total from investment operations | (1.62 | ) | 7.97 | 7.03 | (12.01 | ) | (0.16 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net equalization credits and charges (a) | 0.00 | (c) | 0.09 | 0.11 | 0.40 | — | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Distributions to shareholders from: | |||||||||||||||||||||||||
Net investment income | (0.70 | ) | (1.10 | ) | (1.08 | ) | (1.61 | ) | (0.02 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net asset value, end of period | $ | 57.30 | $ | 59.62 | $ | 52.66 | $ | 46.60 | $ | 59.82 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total return (d) | (2.78 | )% | 15.52 | % | 15.62 | % | (19.84 | )% | (0.26 | )% | |||||||||||||||
Ratios and Supplemental Data: | |||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 40,111 | $ | 38,753 | $ | 18,430 | $ | 9,319 | $ | 2,991 | |||||||||||||||
Ratios to average net assets: | |||||||||||||||||||||||||
Total expenses | 0.30 | %(e) | 0.30 | % | 0.30 | % | 0.30 | % | 0.30 | %(e) | |||||||||||||||
Net investment income (loss) | 2.09 | %(e) | 2.11 | % | 2.30 | % | 2.21 | % | 2.06 | %(e) | |||||||||||||||
Portfolio turnover rate (f) | 9 | %(g) | 17 | % | 21 | % | 15 | % | 2 | %(g) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
See accompanying notes to financial statements.
129
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI China A Shares IMI ETF | |||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | For the Period 10/29/15* - 9/30/16 | |||||||||||||
Net asset value, beginning of period | $ | 23.57 | $ | 21.47 | $ | 25.00 | |||||||||
|
|
|
|
|
| ||||||||||
Income (loss) from investment operations: | |||||||||||||||
Net investment income (loss) (a) | (0.07 | ) | 0.13 | 0.15 | |||||||||||
Net realized and unrealized gain (loss) (b) | 0.29 | 2.18 | (3.43 | ) | |||||||||||
|
|
|
|
|
| ||||||||||
Total from investment operations | 0.22 | 2.31 | (3.28 | ) | |||||||||||
|
|
|
|
|
| ||||||||||
Other capital | — | — | 0.06 | ||||||||||||
|
|
|
|
|
| ||||||||||
Distributions to shareholders from: | |||||||||||||||
Net investment income | — | (0.13 | ) | (0.31 | ) | ||||||||||
Return of Capital | — | (0.08 | ) | — | |||||||||||
|
|
|
|
|
| ||||||||||
Total distributions | — | (0.21 | ) | (0.31 | ) | ||||||||||
|
|
|
|
|
| ||||||||||
Net asset value, end of period | $ | 23.79 | $ | 23.57 | $ | 21.47 | |||||||||
|
|
|
|
|
| ||||||||||
Total return (c) | 0.86 | % | 10.82 | % | (12.92 | )% | |||||||||
Ratios and Supplemental Data: | |||||||||||||||
Net assets, end of period (in 000s) | $ | 2,379 | $ | 2,357 | $ | 2,147 | |||||||||
Ratios to average net assets: | |||||||||||||||
Total expenses | 0.66 | %(d) | 0.65 | % | 0.66 | %(d) | |||||||||
Net investment income (loss) | (0.62 | )%(d) | 0.60 | % | 0.74 | %(d) | |||||||||
Portfolio turnover rate (e) | 8 | %(f) | 1 | % | 14 | %(f) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(d) | Annualized. |
(e) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(f) | Not annualized. |
See accompanying notes to financial statements.
130
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF | ||||||||||
Six Months Ended 3/31/18 (Unaudited) | For the Period 10/25/16* - 9/30/17 | |||||||||
Net asset value, beginning of period | $ | 70.74 | $ | 60.00 | ||||||
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||
Net investment income (loss) (a) | 0.75 | 1.72 | ||||||||
Net realized and unrealized gain (loss) (b) | 0.62 | 10.56 | ||||||||
|
|
|
| |||||||
Total from investment operations | 1.37 | 12.28 | ||||||||
|
|
|
| |||||||
Net equalization credits and charges (a) | 0.02 | 0.02 | ||||||||
|
|
|
| |||||||
Distributions to shareholders from: | ||||||||||
Net investment income | (0.46 | ) | (1.56 | ) | ||||||
Net realized gains | (0.25 | ) | — | |||||||
|
|
|
| |||||||
Total distributions | (0.71 | ) | (1.56 | ) | ||||||
|
|
|
| |||||||
Net asset value, end of period | $ | 71.42 | $ | 70.74 | ||||||
|
|
|
| |||||||
Total return (c) | 1.94 | % | 20.89 | % | ||||||
Ratios and Supplemental Data: | ||||||||||
Net assets, end of period (in 000s) | $ | 71,418 | $ | 45,980 | ||||||
Ratios to average net assets: | ||||||||||
Total expenses | 0.30 | %(d) | 0.30 | %(d) | ||||||
Net expenses | 0.20 | %(d) | 0.20 | %(d) | ||||||
Net investment income (loss) | 2.08 | %(d) | 2.83 | %(d) | ||||||
Portfolio turnover rate (e) | 2 | %(f) | 9 | %(f) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(d) | Annualized. |
(e) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(f) | Not annualized. |
See accompanying notes to financial statements.
131
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI EAFE StrategicFactorsSM ETF | |||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | For the Period 6/4/14* - 9/30/14 | |||||||||||||||||||||
Net asset value, beginning of period | $ | 63.16 | $ | 55.43 | $ | 52.68 | $ | 57.28 | $ | 60.00 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Income (loss) from investment operations: | |||||||||||||||||||||||||
Net investment income (loss) (a) | 0.65 | 1.90 | 1.56 | 1.60 | 0.45 | ||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 1.08 | 6.86 | 2.70 | (4.56 | ) | (3.14 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total from investment operations | 1.73 | 8.76 | 4.26 | (2.96 | ) | (2.69 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Distributions to shareholders from: | |||||||||||||||||||||||||
Net investment income | (0.63 | ) | (1.03 | ) | (1.51 | ) | (1.64 | ) | (0.03 | ) | |||||||||||||||
Net realized gains | — | — | — | (0.00 | )(c) | — | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total distributions | (0.63 | ) | (1.03 | ) | (1.51 | ) | (1.64 | ) | (0.03 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net asset value, end of period | $ | 64.26 | $ | 63.16 | $ | 55.43 | $ | 52.68 | $ | 57.28 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total return (d) | 2.72 | % | 15.92 | % | 8.21 | % | (5.34 | )% | (4.48 | )% | |||||||||||||||
Ratios and Supplemental Data: | |||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 257,035 | $ | 192,644 | $ | 8,315 | $ | 5,268 | $ | 5,728 | |||||||||||||||
Ratios to average net assets: | |||||||||||||||||||||||||
Total expenses | 0.30 | %(e) | 0.30 | % | 0.30 | % | 0.30 | % | 0.30 | %(e) | |||||||||||||||
Net investment income (loss) | 2.00 | %(e) | 3.20 | % | 2.89 | % | 2.80 | % | 2.35 | %(e) | |||||||||||||||
Portfolio turnover rate (f) | 5 | %(g) | 9 | % | 20 | % | 14 | % | 0 | %(g)(h) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
(h) | Amount shown represents less than 0.5%. |
See accompanying notes to financial statements.
132
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | ||||||||||
Six Months Ended 3/31/18 (Unaudited) | For the Period 10/25/16* - 9/30/17 | |||||||||
Net asset value, beginning of period | $ | 65.27 | $ | 55.00 | ||||||
|
|
|
| |||||||
Income (loss) from investment operations: | ||||||||||
Net investment income (loss) (a) | 0.38 | 1.38 | ||||||||
Net realized and unrealized gain (loss) (b) | 4.85 | 9.81 | ||||||||
|
|
|
| |||||||
Total from investment operations | 5.23 | 11.19 | ||||||||
|
|
|
| |||||||
Net equalization credits and charges (a) | (0.01 | ) | 0.17 | |||||||
|
|
|
| |||||||
Other capital | 0.01 | 0.03 | ||||||||
|
|
|
| |||||||
Distributions to shareholders from: | ||||||||||
Net investment income | (0.24 | ) | (1.12 | ) | ||||||
Net realized gains | (0.44 | ) | — | |||||||
|
|
|
| |||||||
Total distributions | (0.68 | ) | (1.12 | ) | ||||||
|
|
|
| |||||||
Net asset value, end of period | $ | 69.82 | $ | 65.27 | ||||||
|
|
|
| |||||||
Total return (c) | 7.94 | % | 21.02 | % | ||||||
Ratios and Supplemental Data: | ||||||||||
Net assets, end of period (in 000s) | $ | 24,437 | $ | 16,318 | ||||||
Ratios to average net assets: | ||||||||||
Total expenses | 0.30 | %(d) | 0.30 | %(d) | ||||||
Net investment income (loss) | 1.10 | %(d) | 2.44 | %(d) | ||||||
Portfolio turnover rate (e) | 1 | %(f) | 2 | %(f) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(d) | Annualized. |
(e) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(f) | Not annualized. |
See accompanying notes to financial statements.
133
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI Emerging Markets StrategicFactorsSM ETF | |||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | For the Period 6/4/14* - 9/30/14 | |||||||||||||||||||||
Net asset value, beginning of period | $ | 60.69 | $ | 53.58 | $ | 47.58 | $ | 59.59 | $ | 60.00 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Income (loss) from investment operations: | |||||||||||||||||||||||||
Net investment income (loss) (a) | 0.39 | 1.40 | 1.27 | 1.58 | 0.77 | ||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 4.69 | 6.69 | 5.69 | (12.48 | ) | (1.23 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total from investment operations | 5.08 | 8.09 | 6.96 | (10.90 | ) | (0.46 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Other capital | 0.02 | 0.01 | 0.05 | 0.20 | 0.06 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Distributions to shareholders from: | |||||||||||||||||||||||||
Net investment income | (0.94 | ) | (0.99 | ) | (1.01 | ) | (1.31 | ) | (0.01 | ) | |||||||||||||||
Net realized gains | — | — | — | (0.00 | )(c) | — | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total distributions | (0.94 | ) | (0.99 | ) | (1.01 | ) | (1.31 | ) | (0.01 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net asset value, end of period | $ | 64.85 | $ | 60.69 | $ | 53.58 | $ | 47.58 | $ | 59.59 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total return (d) | 8.42 | % | 15.39 | % | 15.00 | % | (18.29 | )% | (0.65 | )% | |||||||||||||||
Ratios and Supplemental Data: | |||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 321,001 | $ | 213,945 | $ | 116,539 | $ | 71,371 | $ | 5,959 | |||||||||||||||
Ratios to average net assets: | |||||||||||||||||||||||||
Total expenses | 0.30 | %(e) | 0.30 | % | 0.30 | % | 0.30 | % | 0.31 | %(e) | |||||||||||||||
Net investment income (loss) | 1.22 | %(e) | 2.50 | % | 2.59 | % | 2.82 | % | 3.85 | %(e) | |||||||||||||||
Portfolio turnover rate (f) | 7 | %(g) | 17 | % | 34 | % | 23 | % | 0 | %(g)(h) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
(h) | Amount shown represents less than 0.5%. |
See accompanying notes to financial statements.
134
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI Germany StrategicFactorsSM ETF | |||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | For the Period 6/11/14* - 9/30/14 | |||||||||||||||||||||
Net asset value, beginning of period | $ | 63.06 | $ | 52.12 | $ | 48.44 | $ | 53.58 | $ | 60.00 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Income (loss) from investment operations: | |||||||||||||||||||||||||
Net investment income (loss) (a) | 0.03 | 1.39 | (b) | 1.20 | 1.24 | 0.02 | (c) | ||||||||||||||||||
Net realized and unrealized gain (loss) (d) | 0.92 | 10.33 | 3.33 | (5.39 | ) | (6.44 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total from investment operations | 0.95 | 11.72 | 4.53 | (4.15 | ) | (6.42 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net equalization credits and charges (a) | (0.04 | ) | 0.58 | 0.20 | 0.18 | — | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Distributions to shareholders from: | |||||||||||||||||||||||||
Net investment income | (0.10 | ) | (1.36 | ) | (1.05 | ) | (1.17 | ) | (0.00 | )(e) | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net asset value, end of period | $ | 63.87 | $ | 63.06 | $ | 52.12 | $ | 48.44 | $ | 53.58 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total return (f) | 1.44 | % | 23.78 | %(b) | 9.99 | % | (7.64 | )% | (10.70 | )%(c) | |||||||||||||||
Ratios and Supplemental Data: | |||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 9,580 | $ | 18,917 | $ | 13,031 | $ | 9,688 | $ | 5,358 | |||||||||||||||
Ratios to average net assets: | |||||||||||||||||||||||||
Total expenses | 0.30 | %(g) | 0.30 | % | 0.30 | % | 0.30 | % | 0.30 | %(g) | |||||||||||||||
Net investment income (loss) | 0.08 | %(g) | 2.44 | %(b) | 2.37 | % | 2.26 | % | 0.11 | %(c)(g) | |||||||||||||||
Portfolio turnover rate (h) | 10 | %(i) | 19 | % | 27 | % | 18 | % | 1 | %(i) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | Net investment income per share and ratio of net investment income to average net assets reflect receipt of special dividend from portfolio holding. The resulting increase to net investment income amounted to $0.29 per share and 0.50% of average net assets. If the special dividends were not received during the year ended September 30, 2017, the total return would have been 23.40%. |
(c) | Net investment income per share and ratio of net investment income to average net assets reflect receipt of special dividends from portfolio holdings. The resulting increase to net investment income amounted to $0.02 per share and 0.04% of average net assets. If the special dividends were not received during the year ended September 30, 2014, the total return would have been (10.73)%. |
(d) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. |
(e) | Amount is less than $0.005 per share. |
(f) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(g) | Annualized. |
(h) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(i) | Not annualized. |
See accompanying notes to financial statements.
135
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI Japan StrategicFactorsSM ETF | |||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | For the Period 6/11/14* - 9/30/14 | |||||||||||||||||||||
Net asset value, beginning of period | $ | 74.49 | $ | 67.43 | $ | 59.76 | $ | 60.46 | $ | 60.00 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Income (loss) from investment operations: | |||||||||||||||||||||||||
Net investment income (loss) (a) | 0.96 | 1.16 | 0.95 | 0.88 | 0.41 | ||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 5.31 | 6.99 | 7.42 | (0.97 | ) | 0.05 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total from investment operations | 6.27 | 8.15 | 8.37 | (0.09 | ) | 0.46 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net equalization credits and charges (a) | (0.03 | ) | (0.01 | ) | 0.27 | 0.24 | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Distributions to shareholders from: | |||||||||||||||||||||||||
Net investment income | (0.73 | ) | (1.08 | ) | (0.96 | ) | (0.84 | ) | — | ||||||||||||||||
Net realized gains | — | — | (0.01 | ) | (0.01 | ) | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total distributions | (0.73 | ) | (1.08 | ) | (0.97 | ) | (0.85 | ) | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net asset value, end of period | $ | 80.00 | $ | 74.49 | $ | 67.43 | $ | 59.76 | $ | 60.46 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total return (c) | 8.40 | % | 12.21 | % | 14.55 | % | 0.21 | % | 0.76 | % | |||||||||||||||
Ratios and Supplemental Data: | |||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 24,001 | $ | 14,897 | $ | 13,487 | $ | 11,951 | $ | 6,046 | |||||||||||||||
Ratios to average net assets: | |||||||||||||||||||||||||
Total expenses | 0.30 | %(d) | 0.30 | % | 0.30 | % | 0.30 | % | 0.30 | %(d) | |||||||||||||||
Net investment income (loss) | 2.44 | %(d) | 1.67 | % | 1.48 | % | 1.38 | % | 2.21 | %(d) | |||||||||||||||
Portfolio turnover rate (e) | 10 | %(f) | 22 | % | 23 | % | 23 | % | 0 | %(f)(g) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(d) | Annualized. |
(e) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(f) | Not annualized. |
(g) | Amount is less than 0.5%. |
See accompanying notes to financial statements.
136
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI United Kingdom StrategicFactorsSM ETF | |||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | For the Period 6/11/14* - 9/30/14 | |||||||||||||||||||||
Net asset value, beginning of period | $ | 52.99 | $ | 48.26 | $ | 50.14 | $ | 57.08 | $ | 60.00 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Income (loss) from investment operations: | |||||||||||||||||||||||||
Net investment income (loss) (a) | 0.92 | 2.26 | 1.82 | 2.18 | 0.62 | (b) | |||||||||||||||||||
Net realized and unrealized gain (loss) (c) | (0.67 | ) | 3.20 | (1.77 | ) | (7.43 | ) | (3.53 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total from investment operations | 0.25 | 5.46 | 0.05 | (5.25 | ) | (2.91 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net equalization credits and charges (a) | 0.39 | 1.18 | — | 0.34 | — | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Distributions to shareholders from: | |||||||||||||||||||||||||
Net investment income | (0.87 | ) | (1.91 | ) | (1.93 | ) | (2.03 | ) | (0.01 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net asset value, end of period | $ | 52.76 | $ | 52.99 | $ | 48.26 | $ | 50.14 | $ | 57.08 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total return (d) | 1.19 | % | 14.13 | % | 0.18 | % | (8.85 | )% | (4.86 | )%(b) | |||||||||||||||
Ratios and Supplemental Data: | |||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 18,465 | $ | 5,299 | $ | 2,413 | $ | 2,507 | $ | 5,708 | |||||||||||||||
Ratios to average net assets: | |||||||||||||||||||||||||
Total expenses | 0.30 | %(e) | 0.30 | % | 0.31 | % | 0.30 | % | 0.30 | %(e) | |||||||||||||||
Net investment income (loss) | 3.48 | %(e) | 4.49 | % | 3.71 | % | 3.90 | % | 3.40 | %(b)(e) | |||||||||||||||
Portfolio turnover rate (f) | 9 | %(g) | 27 | % | 24 | % | 31 | % | 0 | %(g)(h) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | Net investment income per share and ratio of net investment income to average net assets reflect receipt of special dividends from portfolio holdings. The resulting increase to net investment income amounted to $0.10 per share and 0.18% of average net assets. If the special dividends were not received during the year ended September 30, 2014, the total return would have been (5.02)%. |
(c) | Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
(h) | Amount shown represents less than 0.5%. |
See accompanying notes to financial statements.
137
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR MSCI World StrategicFactorsSM ETF | |||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | For the Period 6/4/14* - 9/30/14 | |||||||||||||||||||||
Net asset value, beginning of period | $ | 72.02 | $ | 63.75 | $ | 57.96 | $ | 59.95 | $ | 60.00 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Income (loss) from investment operations: | |||||||||||||||||||||||||
Net investment income (loss) (a) | 0.72 | 1.58 | 1.40 | 1.35 | 0.37 | ||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 2.68 | 8.20 | 6.46 | (2.04 | ) | (0.38 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total from investment operations | 3.40 | 9.78 | 7.86 | (0.69 | ) | (0.01 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Distributions to shareholders from: | |||||||||||||||||||||||||
Net investment income | (0.86 | ) | (1.51 | ) | (1.37 | ) | (1.30 | ) | (0.04 | ) | |||||||||||||||
Net realized gains | (0.37 | ) | — | (0.70 | ) | (0.00 | )(c) | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total distributions | (1.23 | ) | (1.51 | ) | (2.07 | ) | (1.30 | ) | (0.04 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Net asset value, end of period | $ | 74.19 | $ | 72.02 | $ | 63.75 | $ | 57.96 | $ | 59.95 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total return (d) | 4.69 | % | 15.53 | % | 13.78 | % | (1.25 | )% | (0.02 | )% | |||||||||||||||
Ratios and Supplemental Data: | |||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 29,676 | $ | 21,606 | $ | 6,375 | $ | 5,796 | $ | 5,995 | |||||||||||||||
Ratios to average net assets: | |||||||||||||||||||||||||
Total expenses | 0.30 | %(e) | 0.30 | % | 0.30 | % | 0.30 | % | 0.30 | %(e) | |||||||||||||||
Net investment income (loss) | 1.93 | %(e) | 2.32 | % | 2.29 | % | 2.18 | % | 1.90 | %(e) | |||||||||||||||
Portfolio turnover rate (f) | 5 | %(g) | 12 | % | 18 | % | 13 | % | 0 | %(g)(h) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
(h) | Amount shown represents less than 0.5%. |
See accompanying notes to financial statements.
138
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Emerging Asia Pacific ETF | ||||||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||||||||
Net asset value, beginning of period | $ | 98.49 | $ | 81.92 | $ | 72.62 | $ | 83.84 | $ | 75.37 | $ | 73.54 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||
Net investment income (loss) (a) | 0.03 | 1.71 | 1.38 | 1.83 | 1.74 | 1.62 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 7.85 | 16.67 | 10.81 | (11.83 | ) | 7.95 | 1.96 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total from investment operations | 7.88 | 18.38 | 12.19 | (10.00 | ) | 9.69 | 3.58 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Other capital | 0.01 | 0.00 | (c) | — | — | — | — | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||
Net investment income | (1.38 | ) | (1.81 | ) | (2.89 | ) | (1.22 | ) | (1.22 | ) | (1.75 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net asset value, end of period | $ | 105.00 | $ | 98.49 | $ | 81.92 | $ | 72.62 | $ | 83.84 | $ | 75.37 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total return (d) | 8.03 | % | 23.02 | % | 17.24 | % | (12.15 | )% | 12.99 | % | 4.91 | % | ||||||||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 504,017 | $ | 413,653 | $ | 335,858 | $ | 428,447 | $ | 687,494 | $ | 399,460 | ||||||||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||||||||
Total expenses | 0.49 | %(e) | 0.49 | % | 0.49 | % | 0.53 | % | 0.59 | % | 0.59 | % | ||||||||||||||||||
Net investment income (loss) | 0.06 | %(e) | 1.98 | % | 1.85 | % | 2.14 | % | 2.17 | % | 2.14 | % | ||||||||||||||||||
Portfolio turnover rate (f) | 1 | %(g) | 4 | % | 1 | % | 28 | % | 15 | % | 16 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
See accompanying notes to financial statements.
139
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Global Dividend ETF | ||||||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | For the Period 5/29/13* - 9/30/13 | |||||||||||||||||||||||||
Net asset value, beginning of period | $ | 67.64 | $ | 63.21 | $ | 58.60 | $ | 64.89 | $ | 63.33 | $ | 60.00 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||
Net investment income (loss) (a) | 1.16 | 2.44 | 2.56 | 2.70 | 2.99 | 0.75 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | 0.78 | 4.19 | 4.87 | (6.27 | ) | 1.32 | 3.20 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total from investment operations | 1.94 | 6.63 | 7.43 | (3.57 | ) | 4.31 | 3.95 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net equalization credits and charges (a) | 0.00 | (c) | 0.10 | 0.08 | 0.39 | 0.06 | 0.01 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||
Net investment income | (1.22 | ) | (2.30 | ) | (2.61 | ) | (2.61 | ) | (2.81 | ) | (0.63 | ) | ||||||||||||||||||
Net realized gains | — | — | (0.29 | ) | (0.50 | ) | — | — | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total distributions | (1.22 | ) | (2.30 | ) | (2.90 | ) | (3.11 | ) | (2.81 | ) | (0.63 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net asset value, end of period | $ | 68.36 | $ | 67.64 | $ | 63.21 | $ | 58.60 | $ | 64.89 | $ | 63.33 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total return (d) | 2.82 | % | 10.83 | % | 13.16 | % | (5.17 | )% | 6.85 | % | 6.61 | % | ||||||||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 181,143 | $ | 165,725 | $ | 104,298 | $ | 73,250 | $ | 29,200 | $ | 9,499 | ||||||||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||||||||
Total expenses | 0.40 | %(e) | 0.40 | % | 0.40 | % | 0.40 | % | 0.40 | % | 0.40 | %(e) | ||||||||||||||||||
Net investment income (loss) | 3.34 | %(e) | 3.76 | % | 4.27 | % | 4.16 | % | 4.46 | % | 3.61 | %(e) | ||||||||||||||||||
Portfolio turnover rate (f) | 39 | %(g) | 47 | % | 49 | % | 31 | % | 37 | % | 10 | %(g) |
* | Commencement of operations. |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
See accompanying notes to financial statements.
140
Table of Contents
SPDR INDEX SHARES FUNDS
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share outstanding throughout each period
SPDR S&P Global Infrastructure ETF | ||||||||||||||||||||||||||||||
Six Months Ended 3/31/18 (Unaudited) | Year Ended 9/30/17 | Year Ended 9/30/16 | Year Ended 9/30/15 | Year Ended 9/30/14 | Year Ended 9/30/13 | |||||||||||||||||||||||||
Net asset value, beginning of period | $ | 51.82 | $ | 47.69 | $ | 43.31 | $ | 48.84 | $ | 43.51 | $ | 40.42 | ||||||||||||||||||
|
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|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||
Net investment income (loss) (a) | 0.75 | 1.73 | 1.58 | 1.46 | 1.68 | 1.99 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) (b) | (2.76 | ) | 4.03 | 4.23 | (5.62 | ) | 5.20 | 2.71 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total from investment operations | (2.01 | ) | 5.76 | 5.81 | (4.16 | ) | 6.88 | 4.70 | ||||||||||||||||||||||
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|
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|
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|
|
|
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Other capital | 0.00 | (c) | — | — | — | — | — | |||||||||||||||||||||||
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|
|
|
|
|
|
|
| |||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||
Net investment income | (0.89 | ) | (1.63 | ) | (1.43 | ) | (1.37 | ) | (1.55 | ) | (1.61 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Net asset value, end of period | $ | 48.92 | $ | 51.82 | $ | 47.69 | $ | 43.31 | $ | 48.84 | $ | 43.51 | ||||||||||||||||||
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|
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|
|
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| |||||||||||||||||||
Total return (d) | (3.99 | )% | 12.35 | % | 13.85 | % | (8.77 | )% | 15.95 | % | 11.99 | % | ||||||||||||||||||
Ratios and Supplemental Data: | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000s) | $ | 215,234 | $ | 181,377 | $ | 85,850 | $ | 56,299 | $ | 112,333 | $ | 52,217 | ||||||||||||||||||
Ratios to average net assets: | ||||||||||||||||||||||||||||||
Total expenses | 0.40 | %(e) | 0.40 | % | 0.40 | % | 0.40 | % | 0.41 | % | 0.50 | % | ||||||||||||||||||
Net investment income (loss) | 2.95 | %(e) | 3.54 | % | 3.55 | % | 3.03 | % | 3.51 | % | 4.79 | % | ||||||||||||||||||
Portfolio turnover rate (f) | 6 | %(g) | 22 | % | 21 | % | 7 | % | 14 | % | 74 | % |
(a) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. |
(b) | 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. |
(c) | Amount is less than $0.005 per share. |
(d) | Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. |
(g) | Not annualized. |
See accompanying notes to financial statements.
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March 31, 2018 (Unaudited)
1. | Organization |
SPDR Index Shares Funds (the “Trust”), a Massachusetts business trust, registered under the Investment Company Act of 1940, as amended (“1940 Act”), is an open-end management investment company.
As of March 31, 2018, the Trust consists of thirty (30) series, each of which represents a separate series of beneficial interest in the Trust. The Declaration of Trust permits the Board of Trustees of the Trust (the “Board”) to authorize the issuance of an unlimited number of shares of beneficial interest at $0.01 par value. The financial statements herein relate to the following series (each a “Fund”, and collectively, the “Funds”):
SPDR EURO STOXX Small Cap ETF
SPDR MSCI ACWI IMI ETF
SPDR MSCI ACWI Low Carbon Target ETF
SPDR MSCI Canada StrategicFactorsSM ETF
SPDR MSCI China A Shares IMI ETF
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
SPDR MSCI EAFE StrategicFactorsSM ETF
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
SPDR MSCI Emerging Markets StrategicFactorsSM ETF
SPDR MSCI Germany StrategicFactorsSM ETF
SPDR MSCI Japan StrategicFactorsSM ETF
SPDR MSCI United Kingdom StrategicFactorsSM ETF
SPDR MSCI World StrategicFactorsSM ETF
SPDR S&P Emerging Asia Pacific ETF
SPDR S&P Global Dividend ETF
SPDR S&P Global Infrastructure ETF
Each Fund is classified as a non-diversified investment company under the 1940 Act.
Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.
2. | Summary of Significant Accounting Policies |
The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements:
The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies.
Security Valuation
Each Fund’s investments are valued at fair value each day that the New York Stock Exchange (“NYSE”) is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the NYSE is not open. Fair value is generally defined as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. By its nature, a fair value price is a good faith estimate of the valuation in a current sale and may not reflect an actual market price. The investments of each Fund are valued pursuant to the policy and procedures developed by the Oversight Committee (the “Committee”) and approved by the Board. The Committee provides oversight of the valuation of investments for the Funds. The Board has responsibility for determining the fair value of investments.
Valuation techniques used to value each Fund’s investments by major category are as follows:
• | Equity investments (including registered investment companies that are exchange-traded funds) traded on a recognized securities exchange for which market quotations are readily available are valued at the last sale price or official closing price, as applicable, on the primary market or exchange on which they trade. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last published sale price or at fair value. |
• | Rights and warrants are valued at the last reported sale price obtained from independent pricing services or brokers on the |
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valuation date. If no price is obtained from pricing services or brokers, valuation will be based upon the intrinsic value, pursuant to the valuation policy and procedures approved by the Board. |
• | Investments in registered investment companies (including money market funds) or other unitized pooled investment vehicles that are not traded on an exchange are valued at that day’s published net asset value (“NAV”) per share or unit. |
• | Exchange-traded futures contracts are valued at the closing settlement price on the primary market on which they are traded most extensively. Exchange-traded futures contracts traded on a recognized exchange for which there were no sales on that day are valued at the last reported sale price obtained from independent pricing services or brokers or at fair value. |
In the event prices or quotations are not readily available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with the valuation policy and procedures approved by the Board.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Funds’ underlying benchmarks. Various inputs are used in determining the value of the Funds’ investments.
The Funds value their assets and liabilities at fair value using a fair value hierarchy consisting of three broad levels that prioritize the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The categorization of a value determined for an investment within the hierarchy is based upon the pricing transparency of the investment and is not necessarily an indication of the risk associated with investing in it.
The three levels of the fair value hierarchy are as follows:
• | Level 1 – Unadjusted quoted prices in active markets for an identical asset or liability; |
• | Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and |
• | Level 3 – Unobservable inputs for the asset or liability, including the Committee’s assumptions used in determining the fair value of investments. |
The value of each Fund’s investments according to the fair value hierarchy as of March 31, 2018, is disclosed in each Fund’s respective Schedule of Investments.
Changes in valuation techniques may result in transfers in or out of an assigned level within the fair value hierarchy. Transfers between different levels of the fair value hierarchy are recognized at the end of the reporting period.
The SPDR MSCI China A Shares IMI ETF had transfers of securities from Level 1 to Level 2 during the period ended March 31, 2018 in the amounts of $99,016. At March 31, 2018, these investments were valued using alternative valuation procedures under the valuation policy and procedures adopted by the Board. At September 30, 2017, these investments were valued at exchange closing prices in accordance with the Fund’s valuation policy.
Investment Transactions and Income Recognition
Investment transactions are accounted for on trade date for financial reporting purposes. Realized gains and losses from the sale or disposition of investments and foreign exchange transactions, if any, are determined using the identified cost method.
Dividend income and capital gain distributions, if any, are recognized on the ex-dividend date, net of any foreign taxes withheld at source, if any. Non-cash dividends received in the form of stock are recorded as dividend income at fair value.
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March 31, 2018 (Unaudited)
Certain Funds invest in real estate investment trusts (“REITs”). REITs determine the tax character of their distributions annually and may characterize a portion of their distributions as a return of capital or capital gain. The Funds’ policy is to record all REIT distributions initially as dividend income and re-designate the prior calendar year’s to return of capital or capital gain distributions at year end based on information provided by the REIT and/or SSGA Funds Management, Inc.’s (the “Adviser” or “SSGA FM”) estimates of such re-designations for which actual information has not yet been reported.
Expenses
Certain expenses, which are directly identifiable to a specific Fund, are applied to that Fund within the Trust. Other expenses which cannot be attributed to a specific Fund are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative net assets of the Funds within the Trust.
Foreign Currency Translation
The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies as well as investment securities and other assets and liabilities denominated in a foreign currency are translated to U.S. dollars using exchange rates at period end. Purchases and sales of securities, income receipts and expense payments denominated in foreign currencies are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions.
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
Foreign Taxes
The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with SSGA FM’s understanding of the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in the Statements of Operations, if applicable. Foreign taxes payable or deferred as of March 31, 2018, if any, are disclosed in the Funds’ Statements of Assets and Liabilities.
Equalization
Certain Funds in the Trust follow the accounting practice known as “Equalization” by which a portion of the proceeds from sales and costs of reacquiring Fund shares, equivalent on a per share basis to the amount of distributable net investment income on the date of the transaction, is credited or charged to undistributed net investment income. As a result, undistributed net investment income per share is unaffected by sales or reacquisition of Fund shares. Amounts related to Equalization can be found on the Statements of Changes in Net Assets.
The following Funds utilized equalization during the period ended March 31, 2018:
SPDR EURO STOXX Small Cap ETF
SPDR MSCI Canada StrategicFactorsSM ETF
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
SPDR MSCI Germany StrategicFactorsSM ETF
SPDR MSCI Japan StrategicFactorsSM ETF
SPDR MSCI United Kingdom StrategicFactorsSM ETF
SPDR S&P Global Dividend ETF
Distributions
The following Fund declares and distributes from net investment income, if any, to its shareholders quarterly:
SPDR S&P Global Dividend ETF
The following Funds declare and distribute from net investment income, if any, to its shareholders semi-annually:
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March 31, 2018 (Unaudited)
SPDR EURO STOXX Small Cap ETF
SPDR MSCI ACWI IMI ETF
SPDR MSCI ACWI Low Carbon Target ETF
SPDR MSCI Canada StrategicFactorsSM ETF
SPDR MSCI China A Shares IMI ETF
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
SPDR MSCI EAFE StrategicFactorsSM ETF
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
SPDR MSCI Emerging Markets StrategicFactorsSM ETF
SPDR MSCI Germany StrategicFactorsSM ETF
SPDR MSCI Japan StrategicFactorsSM ETF
SPDR MSCI United Kingdom StrategicFactorsSM ETF
SPDR MSCI World StrategicFactorsSM ETF
SPDR S&P Emerging Asia Pacific ETF
SPDR S&P Global Infrastructure ETF
Net realized capital gains, if any, are distributed annually. Dividends may be declared and paid more frequently or at any other times to improve index tracking or to comply with the distribution requirements of the Internal Revenue Code. The amount and character of income and capital gains to be distributed are determined in accordance with applicable tax regulations which may differ from net investment income and realized gains recognized for U.S. GAAP purposes.
3. | Derivative Financial Instruments |
Futures Contracts
Certain Funds may enter into futures contracts to meet the Funds’ objectives. A futures contract is a standardized, exchange-traded agreement to buy or sell a financial instrument at a set price on a future date. Upon entering into a futures contract, the Fund is required to deposit with the broker, cash or securities in an amount equal to the minimum initial margin requirements of the clearing house. Subsequent payments are made or received by the Funds equal to the daily change in the contract value and are recorded as variation margin receivable or payable with a corresponding offset to unrealized gains or losses. The Funds recognize a realized gain or loss when the contract is closed.
Losses may arise if the value of a futures contract decreases due to unfavorable changes in the market rates or values of the underlying instrument during the term of the contract or if the counterparty does not perform under the contract. The use of futures contracts also involves the risk that the movements in the price of the futures contracts do not correlate the movement of the assets underlying such contracts.
For the period ended March 31, 2018, the SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF entered into futures contracts for return enhancement, hedging and exposing cash reserves to markets.
The following tables summarize the value of the Fund’s derivative instruments as of March 31, 2018, and the related location in the accompanying Statement of Assets and Liabilities and Statement of Operations, presented by primary underlying risk exposure:
Asset Derivatives | ||||||||||||||||||||||||||||||
Interest Rate Contracts Risk | Foreign Exchange Contracts Risk | Credit Contracts Risk | Equity Contracts Risk | Commodity Contracts Risk | Total | |||||||||||||||||||||||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF |
| |||||||||||||||||||||||||||||
Futures Contracts | $ | — | $ | — | $ | — | $ | 21,798 | $ | — | $ | 21,798 | ||||||||||||||||||
Net Realized Gain (Loss) | ||||||||||||||||||||||||||||||
Interest Rate Contracts Risk | Foreign Exchange Contracts Risk | Credit Contracts Risk | Equity Contracts Risk | Commodity Contracts Risk | Total | |||||||||||||||||||||||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF |
| |||||||||||||||||||||||||||||
Futures Contracts | $ | — | $ | — | $ | — | $ | (17,389 | ) | $ | — | $ | (17,389 | ) |
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March 31, 2018 (Unaudited)
Net Change in Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||||||||
Interest Rate Contracts Risk | Foreign Exchange Contracts Risk | Credit Contracts Risk | Equity Contracts Risk | Commodity Contracts Risk | Total | |||||||||||||||||||||||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF |
| |||||||||||||||||||||||||||||
Futures Contracts | $ | — | $ | — | $ | — | $ | 35,575 | $ | — | $ | 35,575 |
4. | Fees and Transactions with Affiliates |
Advisory Fee
The Trust, on behalf of each Fund, has entered into an Investment Advisory Agreement (the “Agreement” ) with SSGA FM. For its advisory services to the Funds, facilities furnished, and expenses borne by the Adviser, each Fund pays the Adviser a fee accrued daily and paid quarterly, based on a percentage of each Fund’s average daily net assets as shown in the following table:
Annual Rate | |||||
SPDR EURO STOXX Small Cap ETF | 0.45 | % | |||
SPDR MSCI ACWI IMI ETF | 0.25 | ||||
SPDR MSCI ACWI Low Carbon Target ETF | 0.30 | ||||
SPDR MSCI Canada StrategicFactorsSM ETF | 0.30 | ||||
SPDR MSCI China A Shares IMI ETF | 0.65 | ||||
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF | 0.30 | ||||
SPDR MSCI EAFE StrategicFactorsSM ETF | 0.30 | ||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 0.30 | ||||
SPDR MSCI Emerging Markets StrategicFactorsSM ETF | 0.30 | ||||
SPDR MSCI Germany StrategicFactorsSM ETF | 0.30 | ||||
SPDR MSCI Japan StrategicFactorsSM ETF | 0.30 | ||||
SPDR MSCI United Kingdom StrategicFactorsSM ETF | 0.30 | ||||
SPDR MSCI World StrategicFactorsSM ETF | 0.30 | ||||
SPDR S&P Emerging Asia Pacific ETF | 0.49 | ||||
SPDR S&P Global Dividend ETF | 0.40 | ||||
SPDR S&P Global Infrastructure ETF | 0.40 |
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 expenses, taxes, interest, fees and expenses of the Independent Trustees (including any Trustees’ counsel fees, acquired fund fees and expenses, litigation expenses and other extraordinary expenses).
The Adviser has contractually agreed to waive its management fee and reimburse certain expenses, until January 31, 2019, so that the net annual Fund operating expenses of the SPDR MSCI ACWI Low Carbon Target ETF and the SPDR MSCI EAFE Fossil Fuel Reserves Free ETF will be limited to 0.20% of each Fund’s average daily net assets before application of any fees and expenses not paid by the Adviser under the Investment Advisory Agreement. Such fees and expenses paid by the Adviser are limited to certain direct operating expenses of the Fund and, therefore, do not include the Fund’s acquired fund fees and expenses, if any. The contractual fee waiver does not provide for the recoupment by the Adviser of any fees the Adviser previously waived. The Adviser may continue the waiver from year to year, but there is no guarantee that the Adviser will do so and after January 31, 2019, the waiver may be cancelled or modified at any time. For the period ended March 31, 2018, the SPDR MSCI ACWI Low Carbon Target ETF and the SPDR MSCI EAFE Fossil Fuel Reserves Free ETF waived $77,544 and $27,146, respectively.
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March 31, 2018 (Unaudited)
Administrator, Custodian, Sub-Administrator and Transfer Agent Fees
SSGA FM serves as administrator and State Street, an affiliate of the Adviser, serves as custodian, sub-administrator and transfer agent. State Street receives fees for its services as custodian, sub-administrator and transfer agent from the Adviser.
Distributor
Distributor
State Street Global Advisors Funds Distributors, LLC (“SSGA FD” or the “Distributor”), an affiliate of the Adviser, serves as the Distributor of the Trust.
Other Transactions with Affiliates - Securities Lending
State Street, an affiliate of the Funds, acts as the securities lending agent for the Funds, pursuant to an amended and restated securities lending authorization agreement dated January 6, 2017.
Proceeds collected by State Street on investment of cash collateral or any fee income are allocated as follows (after deduction of such other amounts payable to State Street under the terms of the securities lending agreement): 85% payable to the Fund, and 15% payable to State Street.
In addition, cash collateral from lending activities is invested in the State Street Navigator Securities Lending Government Money Market Portfolio, an affiliated money market fund, for which SSGA FM serves as investment adviser. See Note 9 for additional information regarding securities lending.
Other Transactions with Affiliates
The Funds may invest in affiliated entities, including securities issued by State Street Corporation, affiliated funds, or entities deemed to be affiliates as a result of the Funds owning more than five percent of the entity’s voting securities or outstanding shares. Amounts relating to these transactions during the period ended March 31, 2018, are disclosed in the Schedules of Investments.
5. | Trustees’ Fees |
The fees and expenses of the Trust’s trustees , who are not “interested persons” of the Trust, as defined in the 1940 Act (“Independent Trustees”), are paid directly by the Funds. The Independent Trustees are reimbursed for travel and other out-of-pocket expenses in connection with meeting attendance and industry seminars.
6. | Investment Transactions |
Purchases and sales of investments (excluding in-kind transactions, short term investments and derivative contracts) for the period ended March 31, 2018, were as follows:
Purchases | Sales | |||||||
SPDR EURO STOXX Small Cap ETF | $ | 30,787,192 | $ | 8,398,059 | ||||
SPDR MSCI ACWI IMI ETF | 933,368 | 1,828,732 | ||||||
SPDR MSCI ACWI Low Carbon Target ETF | 14,762,701 | 15,300,576 | ||||||
SPDR MSCI Canada StrategicFactorsSM ETF | 6,598,252 | 3,457,074 | ||||||
SPDR MSCI China A Shares IMI ETF | 181,290 | 213,672 | ||||||
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF | 26,451,910 | 1,037,088 | ||||||
SPDR MSCI EAFE StrategicFactorsSM ETF | 10,821,289 | 10,066,912 | ||||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 6,541,201 | 199,640 | ||||||
SPDR MSCI Emerging Markets StrategicFactorsSM ETF | 59,697,689 | 17,800,341 | ||||||
SPDR MSCI Germany StrategicFactorsSM ETF | 1,698,125 | 1,721,847 |
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Purchases | Sales | |||||||
SPDR MSCI Japan StrategicFactorsSM ETF | $ | 17,441,437 | $ | 9,006,002 | ||||
SPDR MSCI United Kingdom StrategicFactorsSM ETF | 14,116,632 | 801,203 | ||||||
SPDR MSCI World StrategicFactorsSM ETF | 8,789,107 | 1,297,777 | ||||||
SPDR S&P Emerging Asia Pacific ETF | 63,573,521 | 3,288,731 | ||||||
SPDR S&P Global Dividend ETF | 150,944,744 | 137,834,631 | ||||||
SPDR S&P Global Infrastructure ETF | 12,020,473 | 11,706,640 |
For the period ended March 31, 2018, the following Funds had in-kind contributions, redemptions and net realized gains/losses in the amounts as follows:
In-kind Contributions | In-kind Redemptions | In-kind Net Realized Gains/(Losses) | ||||||||||
SPDR EURO STOXX Small Cap ETF | $ | 22,315,246 | $ | — | $ | — | ||||||
SPDR MSCI Canada StrategicFactorsSM ETF | 3,078,721 | — | — | |||||||||
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF | 24,360,468 | — | — | |||||||||
SPDR MSCI EAFE StrategicFactorsSM ETF | 81,878,209 | 19,001,122 | 4,152,487 | |||||||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 3,606,791 | — | — | |||||||||
SPDR MSCI Emerging Markets StrategicFactorsSM ETF | 48,811,097 | — | — | |||||||||
SPDR MSCI Germany StrategicFactorsSM ETF | — | 10,100,611 | 1,893,039 | |||||||||
SPDR MSCI Japan StrategicFactorsSM ETF | 15,634,074 | 7,317,402 | 892,635 | |||||||||
SPDR MSCI United Kingdom StrategicFactorsSM ETF | 13,316,537 | — | — | |||||||||
SPDR MSCI World StrategicFactorsSM ETF | 7,407,940 | — | — | |||||||||
SPDR S&P Emerging Asia Pacific ETF | 41,659,363 | — | — | |||||||||
SPDR S&P Global Dividend ETF | 80,286,696 | 69,705,255 | 16,127,913 | |||||||||
SPDR S&P Global Infrastructure ETF | 50,588,931 | 5,306,994 | 1,281,487 |
7. | Shareholder Transactions |
Each Fund issues and redeems its shares, at NAV, by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”). Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets.
The consideration for the purchase of Creation Units of a Fund may consist of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to the Trust and/or custodian, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. An additional variable fee may be charged for certain transactions. Such variable charges, if any, are included in “Other Capital” on the Statements of Changes on Net Assets.
8. | Income Tax Information |
The Funds have qualified and intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code of 1986, as amended. Each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. Therefore, no provision for federal income tax is required.
The Funds file federal and various state and local tax returns as required. No income tax returns are currently under examination. Generally, the federal returns are subject to examination by the Internal Revenue Service for a period of three years from date of filing, while the state returns may remain open for an additional year depending upon jurisdiction. As of
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September 30, 2017, SSGA FM has analyzed each Fund’s tax positions taken on tax returns for all open years and does not believe there are any uncertain tax positions that would require recognition of a tax liability.
Distributions to shareholders are recorded on ex-dividend date. Income dividends and gain distributions are determined in accordance with income tax rules and regulations, which may differ from generally accepted accounting principles.
As of March 31, 2018, gross unrealized appreciation and gross unrealized depreciation of investments and other financial instruments based on cost for federal income tax purposes were as follows:
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |||||||||||||||||
SPDR EURO STOXX Small Cap ETF | $ | 41,306,779 | $ | 3,681,342 | $ | 1,495,372 | $ | 2,185,970 | ||||||||||||
SPDR MSCI ACWI IMI ETF | 82,341,610 | 17,390,871 | 5,399,298 | 11,991,573 | ||||||||||||||||
SPDR MSCI ACWI Low Carbon Target ETF | 127,062,958 | 31,855,978 | 5,928,701 | 25,927,277 | ||||||||||||||||
SPDR MSCI Canada StrategicFactorsSM ETF | 38,144,366 | 4,478,304 | 944,343 | 3,533,961 | ||||||||||||||||
SPDR MSCI China A Shares IMI ETF | 2,392,688 | 407,359 | 456,771 | (49,412 | ) | |||||||||||||||
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF | 68,059,640 | 6,450,175 | 1,355,522 | 5,094,653 | ||||||||||||||||
SPDR MSCI EAFE StrategicFactorsSM ETF | 246,157,415 | 20,987,556 | 5,205,174 | 15,782,382 | ||||||||||||||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 21,473,842 | 3,665,180 | 711,480 | 2,953,700 | ||||||||||||||||
SPDR MSCI Emerging Markets StrategicFactorsSM ETF | 285,339,310 | 49,602,688 | 9,574,698 | 40,027,990 | ||||||||||||||||
SPDR MSCI Germany StrategicFactorsSM ETF | 9,129,190 | 755,482 | 394,015 | 361,467 | ||||||||||||||||
SPDR MSCI Japan StrategicFactorsSM ETF | 25,671,706 | 1,331,381 | 669,058 | 662,323 | ||||||||||||||||
SPDR MSCI United Kingdom StrategicFactorsSM ETF | 18,724,281 | 374,484 | 590,272 | (215,788 | ) | |||||||||||||||
SPDR MSCI World StrategicFactorsSM ETF | 27,749,743 | 3,092,172 | 906,263 | 2,185,909 | ||||||||||||||||
SPDR S&P Emerging Asia Pacific ETF | 412,435,832 | 146,971,045 | 50,308,213 | 96,662,832 | ||||||||||||||||
SPDR S&P Global Dividend ETF | 204,803,470 | 8,784,904 | 14,796,576 | (6,011,672 | ) | |||||||||||||||
SPDR S&P Global Infrastructure ETF | 216,068,437 | 16,426,084 | 15,113,496 | 1,312,588 |
9. | Securities Lending |
Each Fund may lend securities to qualified broker-dealers or institutional investors. The loans are secured at all times by cash, cash equivalents or U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. The value of the collateral with respect to a loaned security may be temporarily more or less than the value of a security due to market fluctuations of securities values. With respect to each loan, if on any U.S. business day the aggregate market value of securities collateral plus cash collateral is less than the aggregate market value of the securities which are subject to the loan, the borrower will be notified to provide additional collateral on the next business day.
The Funds will regain record ownership of loaned securities to exercise certain beneficial rights; however, the Funds may bear the risk of delay in recovery of, or even loss of rights in the securities loaned should the borrower fail financially. In addition, a Fund will bear the risk of loss of any cash collateral that it may invest. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash, cash equivalents or U.S. government securities held as collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as the lending agent. Additionally, a Fund will receive a fee from the borrower for non-cash collateral equal to a percentage of the market value of the loaned securities.
The market value of securities on loan as of March 31, 2018, and the value of the invested cash collateral are disclosed in the Funds’ Statements of Assets and Liabilities. Non-cash collateral is not disclosed in the Funds’ Statements of Assets and Liabilities as it is held by the lending agent on behalf of the Funds, and the Funds do not have the ability to re-hypothecate those securities. Securities lending income, as disclosed in the Funds’ Statements of Operations, represents the income earned from the non-cash collateral and the investment of cash collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent.
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
The following is a summary of each Fund’s securities lending agreements and related cash and non-cash collateral received as of March 31, 2018:
Fund | Market Value of Securities on Loan | Cash Collateral Received | Non Cash Collateral Received* | Total Collateral Received | ||||||||||||||||
SPDR EURO STOXX Small Cap ETF | $ | 2,475,440 | $ | 2,031,488 | $ | 555,924 | $ | 2,587,412 | ||||||||||||
SPDR MSCI ACWI IMI ETF | 3,793,645 | 1,690,862 | 2,235,614 | 3,926,476 | ||||||||||||||||
SPDR MSCI ACWI Low Carbon Target ETF | 4,619,461 | 2,338,517 | 2,451,605 | 4,790,122 | ||||||||||||||||
SPDR MSCI Canada StrategicFactorsSM ETF | 1,639,034 | 1,622,347 | 59,088 | 1,681,435 | ||||||||||||||||
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF | 2,635,868 | 2,106,482 | 659,871 | 2,766,353 | ||||||||||||||||
SPDR MSCI EAFE StrategicFactorsSM ETF | 6,524,858 | 6,204,945 | 643,893 | 6,848,838 | ||||||||||||||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 1,703,020 | 434,013 | 1,326,818 | 1,760,831 | ||||||||||||||||
SPDR MSCI Emerging Markets StrategicFactorsSM ETF | 10,839,683 | 5,879,993 | 5,303,149 | 11,183,142 | ||||||||||||||||
SPDR MSCI Japan StrategicFactorsSM ETF | 2,558,616 | 2,568,084 | 113,042 | 2,681,126 | ||||||||||||||||
SPDR MSCI United Kingdom StrategicFactorsSM ETF | 137,431 | 142,395 | — | 142,395 | ||||||||||||||||
SPDR MSCI World StrategicFactorsSM ETF | 572,178 | 376,622 | 215,810 | 592,432 | ||||||||||||||||
SPDR S&P Emerging Asia Pacific ETF | 40,115,235 | 5,463,090 | 36,823,763 | 42,286,853 | ||||||||||||||||
SPDR S&P Global Dividend ETF | 23,861,240 | 18,986,384 | 6,102,638 | 25,089,022 | ||||||||||||||||
SPDR S&P Global Infrastructure ETF | 8,656,106 | 1,861,333 | 7,247,988 | 9,109,321 |
* | The non-cash collateral includes U.S. Treasuries and U.S. Government Agency securities. |
The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged or securities loaned, and the remaining contractual maturity of those transactions as of March 31, 2018:
Remaining Contractual Maturity of the Agreements As of March 31, 2018 | ||||||||||||||||||||||||||||||||
Fund | Securities Lending | Overnight and Continuous | <30 Days | Between 30 & 90 Days | >90 Days | Total Borrowings | Gross Amount of Recognized Liabilities for Securities Lending Transactions | |||||||||||||||||||||||||
SPDR EURO STOXX Small Cap ETF | Common Stocks | $ | 2,031,488 | $ | — | $ | — | $ | — | $ | 2,031,488 | $ | 2,031,488 | |||||||||||||||||||
SPDR MSCI ACWI IMI ETF | Common Stocks | 1,690,862 | — | — | — | 1,690,862 | 1,690,862 | |||||||||||||||||||||||||
SPDR MSCI ACWI Low Carbon Target ETF | Common Stocks | 2,338,517 | — | — | — | 2,338,517 | 2,338,517 | |||||||||||||||||||||||||
SPDR MSCI Canada StrategicFactorsSM ETF | Common Stocks | 1,622,347 | — | — | — | 1,622,347 | 1,622,347 | |||||||||||||||||||||||||
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF | Common Stocks | 2,106,482 | — | — | — | 2,106,482 | 2,106,482 | |||||||||||||||||||||||||
SPDR MSCI EAFE StrategicFactorsSM ETF | Common Stocks | 6,204,945 | — | — | — | 6,204,945 | 6,204,945 | |||||||||||||||||||||||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | Common Stocks | 434,013 | — | — | — | 434,013 | 434,013 | |||||||||||||||||||||||||
SPDR MSCI Emerging Markets StrategicFactorsSM ETF | Common Stocks | 5,879,993 | — | — | — | 5,879,993 | 5,879,993 | |||||||||||||||||||||||||
SPDR MSCI Japan StrategicFactorsSM ETF | Common Stocks | 2,568,084 | — | — | — | 2,568,084 | 2,568,084 | |||||||||||||||||||||||||
SPDR MSCI United Kingdom StrategicFactorsSM ETF | Common Stocks | 142,395 | — | — | — | 142,395 | 142,395 | |||||||||||||||||||||||||
SPDR MSCI World StrategicFactorsSM ETF | Common Stocks | 376,622 | — | — | — | 376,622 | 376,622 | |||||||||||||||||||||||||
SPDR S&P Emerging Asia Pacific ETF | Common Stocks | 5,463,090 | — | — | — | 5,463,090 | 5,463,090 | |||||||||||||||||||||||||
SPDR S&P Global Dividend ETF | Common Stocks | 18,986,384 | — | — | — | 18,986,384 | 18,986,384 | |||||||||||||||||||||||||
SPDR S&P Global Infrastructure ETF | Common Stocks | 1,861,333 | — | — | — | 1,861,333 | 1,861,333 |
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SPDR INDEX SHARES FUNDS
NOTES TO FINANCIAL STATEMENTS (continued)
March 31, 2018 (Unaudited)
10. | Line of Credit |
Certain Funds and other affiliated funds (each a “Participant” and, collectively, the “Participants”) participate in a $500 million revolving credit facility provided by a syndication of banks under which the Participants may borrow to fund shareholder redemptions. This agreement expires in October 2018 unless extended or renewed.
The following Funds participate in the credit facility as of March 31, 2018:
SPDR MSCI ACWI IMI ETF
SPDR MSCI ACWI Low Carbon Target ETF
SPDR MSCI China A Shares IMI ETF
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
SPDR MSCI Emerging Markets StrategicFactorsSM ETF
SPDR S&P Emerging Asia Pacific ETF
SPDR S&P Global Dividend ETF
SPDR S&P Global Infrastructure ETF
The Participants are charged an annual commitment fee which is calculated based on the unused portion of the shared credit line. Commitment fees are allocated among each of the Participants based on relative net assets. Commitment fees are ordinary fund operating expenses paid by the Adviser. A Participant incurs and pays the interest expense related to its borrowing. Interest is calculated at a rate per annum equal to the sum of 1% plus the greater of the New York Fed Bank Rate and 1-month LIBOR rate.
Prior to October 12, 2017, the Funds and other affiliated funds participated in a $360 million revolving credit facility.
The Funds had no outstanding loans as of March 31, 2018.
11. | Risks |
Concentration Risk
As a result of the Funds’ ability to invest a large percentage of their assets in obligations of issuers within the same country, state, region, currency or economic sector, an adverse economic, business or political development may affect the value of the Funds’ investments more than if the Funds were more broadly diversified.
Foreign and Emerging Markets Risk
Investing in foreign markets involves risks and considerations not typically associated with investing in the U.S. Foreign securities may be subject to risk of loss because of government regulation, economic, political and social instability in the countries in which the Funds invest. Foreign markets may be less liquid than investments in the U.S. and may be subject to the risks of currency fluctuations. To the extent that a Fund invests in securities of issuers located in emerging markets, these risks may be even more pronounced.
Market and Credit Risk
In the normal course of business, the Funds trade financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the general economic conditions and fluctuations of the market (market risk). Additionally, a Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which the Fund has unsettled or open transactions defaults.
12. | Subsequent Events |
Management has evaluated the impact of all subsequent events on the Funds through the date on which the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements.
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Table of Contents
OTHER INFORMATION
March 31, 2018 (Unaudited)
Expense Example
As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads), if applicable, on purchase payments, reinvested dividends, or other distributions and (2) ongoing costs, including advisory fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. It is based on an investment of $1,000 made at the beginning of the period shown and held for the entire period from October 1, 2017 to March 31, 2018.
The table below illustrates your Fund’s cost in two ways:
Based on actual fund return — This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from each Fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the Fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for the Fund under the heading “Expenses Paid During Period”.
Based on hypothetical 5% return — This section is intended to help you compare your Fund’s costs with those of other mutual funds. It assumes that the Fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case, because the return used is not the Fund’s actual return, the results do not apply to your investment. The example is useful in making comparisons because the U.S. Securities and Exchange Commission (the “SEC”) requires all mutual funds to calculate expenses based on a 5% return. You can assess your Fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as sales load charges (loads). Therefore, the hypothetical 5% return section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.
Actual | Hypothetical (assuming a 5% return before expenses) | ||||||||||||||||||||||||
Annualized Expense Ratio | Ending Account Value | Expenses Paid During Period(a) | Ending Account Value | Expenses Paid During Period(a) | |||||||||||||||||||||
SPDR EURO STOXX Small Cap ETF | 0.45 | % | $ | 1,024.30 | $ | 2.27 | $ | 1,022.70 | $ | 2.27 | |||||||||||||||
SPDR MSCI ACWI IMI ETF | 0.25 | 1,045.10 | 1.27 | 1,023.70 | 1.26 | ||||||||||||||||||||
SPDR MSCI ACWI Low Carbon Target ETF | 0.20 | 1,045.20 | 1.02 | 1,023.90 | 1.01 | ||||||||||||||||||||
SPDR MSCI Canada StrategicFactorsSM ETF | 0.30 | 972.20 | 1.48 | 1,023.40 | 1.51 | ||||||||||||||||||||
SPDR MSCI China A Shares IMI ETF | 0.66 | 1,008.60 | 3.31 | 1,021.60 | 3.33 | ||||||||||||||||||||
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF | 0.20 | 1,019.40 | 1.01 | 1,023.90 | 1.01 | ||||||||||||||||||||
SPDR MSCI EAFE StrategicFactorsSM ETF | 0.30 | 1,027.20 | 1.52 | 1,023.40 | 1.51 | ||||||||||||||||||||
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 0.30 | 1,079.40 | 1.56 | 1,023.40 | 1.51 | ||||||||||||||||||||
SPDR MSCI Emerging Markets StrategicFactorsSM ETF | 0.30 | 1,084.20 | 1.56 | 1,023.40 | 1.51 | ||||||||||||||||||||
SPDR MSCI Germany StrategicFactorsSM ETF | 0.30 | 1,014.40 | 1.51 | 1,023.40 | 1.51 | ||||||||||||||||||||
SPDR MSCI Japan StrategicFactorsSM ETF | 0.30 | 1,084.00 | 1.56 | 1,023.40 | 1.51 | ||||||||||||||||||||
SPDR MSCI United Kingdom StrategicFactorsSM ETF | 0.30 | 1,011.90 | 1.50 | 1,023.40 | 1.51 | ||||||||||||||||||||
SPDR MSCI World StrategicFactorsSM ETF | 0.30 | 1,046.90 | 1.53 | 1,023.40 | 1.51 | ||||||||||||||||||||
SPDR S&P Emerging Asia Pacific ETF | 0.49 | 1,080.30 | 2.54 | 1,022.50 | 2.47 | ||||||||||||||||||||
SPDR S&P Global Dividend ETF | 0.40 | 1,028.20 | 2.02 | 1,022.90 | 2.02 | ||||||||||||||||||||
SPDR S&P Global Infrastructure ETF | 0.40 | 960.10 | 1.95 | 1,022.90 | 2.02 |
(a) | Expenses are equal to the Fund’s annualized net expense ratio multiplied by the average account value of the period, multiplied by 182, then divided by 365. |
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SPDR INDEX SHARES FUNDS
OTHER INFORMATION (continued)
March 31, 2018 (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 SEC’s website, at www.sec.gov.
Information regarding how the investment adviser voted for the prior 12-month period ended June 30, is available by August 31 of each year by calling the same number 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 investments 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 1-866-787-2257 (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 1-866-787-2257 (toll-free) and on the SEC’s website at www.sec.gov.
SPDR MSCI ACWI Low Carbon Target ETF
SPDR MSCI Emerging Markets StrategicFactorsSM ETF
SPDR MSCI World StrategicFactorsSM ETF
153
Table of Contents
SPDR® Index Shares Funds
SPDR Index Shares Funds
Trustees
Bonny E. Boatman
Dwight D. Churchill
David M. Kelly
Frank Nesvet, Chairman
James E. Ross
Carl G. Verboncoeur
Investment Manager and Administrator
SSGA Funds Management, Inc.
One Iron Street
Boston, MA 02210
Distributor
State Street Global Advisors Funds Distributors, LLC
One Iron Street
Boston, MA 02210
Custodian, Sub-Administrator and Transfer Agent
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
Legal Counsel
Morgan, Lewis & Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, DC 20004
Independent Registered Public Accounting Firm
PricewaterhouseCoopers LLP
101 Seaport Boulevard
Suite 500
Boston, MA 02210
Fund Shares are distributed by State Street Global Advisors Funds Distributors, LLC, a wholly-owned subsidiary of State Street Corporation. State Street Global Advisors Funds Distributors, 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.
Table of Contents
SPDR® Index Shares Funds
For more complete information, please call 1.866.787.2257 or visit spdrs.com today.
ssga.com | spdrs.com
The Funds are not sponsored, endorsed, sold, or promoted by Stoxx, S&P Dow Jones Indices LLC, MSCI Inc., and Russell Investment Group. Neither do these companies make any representation regarding the advisability of investing in the Funds. The Funds are distributed by State Street Global Advisors Funds Distributors, LLC, an indirect wholly-owned subsidiary of State Street Corporation. State Street Global Advisors Funds Distributors, LLC is a member of FINRA, SIPC. 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 adviser, administrator and securities lending agent.
Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation.
State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly-owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.
Before investing, consider the Funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting www.spdrs.com. Please read the prospectus carefully before you invest.
State Street Global Advisors
© 2018 State Street Corporation - All Rights Reserved
0515 Exp. Date: 11/30/2018 SPDRISMAINSAR
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. Disclosure of Audit Committees for Listed Registrants.
Not applicable to the registrant; this Form N-CSR is a Semi-Annual Report.
Item 6. Investments.
(a) | The Schedules of Investments for the SPDR S&P China ETF, SPDR S&P International Small Cap ETF, SPDR MSCI ACWI ex-US ETF, SPDR S&P Emerging Markets Small Cap ETF, SPDR Portfolio Emerging Markets ETF, SPDR Portfolio Developed World ex-US ETF, SPDR MSCI Emerging Markets StrategicFactors ETF, SPDR MSCI World StrategicFactors ETF and SPDR MSCI ACWI Low Carbon Target ETF are listed below. Summary Schedules of Investments for these funds as well as the Schedules of Investments for the remaining series of the registrant are included as part of the report to shareholders filed under Item 1 of this Form N-CSR. |
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.0% | ||||||||
AUSTRALIA — 4.6% | ||||||||
Alumina, Ltd. | 532,857 | $ | 964,598 | |||||
Amcor, Ltd. | 156,696 | 1,703,144 | ||||||
AMP, Ltd. | 260,702 | 997,858 | ||||||
Australia & New Zealand Banking Group, Ltd. | 241,837 | 4,982,559 | ||||||
BHP Billiton PLC | 141,808 | 2,792,157 | ||||||
BHP Billiton, Ltd. | 237,595 | 5,141,195 | ||||||
Boral, Ltd. | 307,476 | 1,754,720 | ||||||
Brambles, Ltd. | 178,246 | 1,364,501 | ||||||
Coca-Cola Amatil, Ltd. | 147,065 | 978,030 | ||||||
Commonwealth Bank of Australia | 139,974 | 7,763,712 | ||||||
CSL, Ltd. | 40,115 | 4,783,537 | ||||||
Fortescue Metals Group, Ltd. | 200,755 | 666,773 | ||||||
Insurance Australia Group, Ltd. | 277,909 | 1,594,512 | ||||||
LendLease Group | 138,630 | 1,840,679 | ||||||
Macquarie Group, Ltd. | 39,268 | 3,099,401 | ||||||
Medibank Pvt, Ltd. | 215,229 | 478,765 | ||||||
National Australia Bank, Ltd. | 197,224 | 4,309,986 | ||||||
Newcrest Mining, Ltd. | 58,003 | 870,248 | ||||||
Origin Energy, Ltd. (a) | 219,105 | 1,462,161 | ||||||
QBE Insurance Group, Ltd. | 86,310 | 637,545 | ||||||
Santos, Ltd. (a) | 178,194 | 692,986 | ||||||
Scentre Group REIT | 207,820 | 610,534 | ||||||
Sonic Healthcare, Ltd. | 88,800 | 1,558,449 | ||||||
South32, Ltd. | 443,878 | 1,096,179 | ||||||
Suncorp Group, Ltd. | 184,427 | 1,887,139 | ||||||
Sydney Airport | 73,257 | 377,047 | ||||||
Telstra Corp., Ltd. | 314,212 | 756,791 | ||||||
Transurban Group Stapled Security | 157,531 | 1,379,926 | ||||||
Vicinity Centres REIT | 455,281 | 841,628 | ||||||
Wesfarmers, Ltd. | 92,488 | 2,948,388 | ||||||
Westfield Corp. REIT | 137,258 | 897,018 | ||||||
Westpac Banking Corp. | 265,281 | 5,823,706 | ||||||
Woodside Petroleum, Ltd. | 68,763 | 1,542,254 | ||||||
Woolworths, Ltd. | 114,529 | 2,309,563 | ||||||
|
| |||||||
70,907,689 | ||||||||
|
| |||||||
AUSTRIA — 0.3% | ||||||||
Erste Group Bank AG | 47,874 | 2,402,217 | ||||||
OMV AG | 23,048 | 1,340,180 | ||||||
Raiffeisen Bank International AG (a) | 27,738 | 1,077,648 | ||||||
|
| |||||||
4,820,045 | ||||||||
|
| |||||||
BELGIUM — 0.9% | ||||||||
Ageas | 36,457 | 1,881,346 | ||||||
Anheuser-Busch InBev SA | 62,826 | 6,898,360 | ||||||
KBC Group NV | 29,844 | 2,595,683 | ||||||
Solvay SA | 11,578 | 1,606,895 | ||||||
UCB SA | 15,447 | 1,257,254 | ||||||
|
| |||||||
14,239,538 | ||||||||
|
| |||||||
BRAZIL — 1.9% | ||||||||
Ambev SA ADR | 459,779 | 3,342,593 | ||||||
B3 SA - Brasil Bolsa Balcao | 145,253 | 1,166,447 |
Security Description | Shares | Value | ||||||
Banco Bradesco SA Preference Shares ADR | 326,448 | $ | 3,878,202 | |||||
Banco do Brasil SA | 60,212 | 743,320 | ||||||
BB Seguridade Participacoes SA | 52,264 | 460,274 | ||||||
Braskem SA Class A, Preference Shares | 32,292 | 466,367 | ||||||
BRF SA (a) | 40,314 | 276,919 | ||||||
Cia Energetica de Minas Gerais ADR (b) | 185,346 | 478,193 | ||||||
Cia Siderurgica Nacional SA ADR (a) (b) | 145,659 | 383,083 | ||||||
Cielo SA | 77,693 | 483,653 | ||||||
EDP - Energias do Brasil SA | 147,857 | 592,122 | ||||||
Embraer SA | 56,084 | 363,645 | ||||||
Fibria Celulose SA | 10,152 | 198,635 | ||||||
Gerdau SA ADR | 106,280 | 495,265 | ||||||
Itau Unibanco Holding SA Preference Shares ADR | 294,543 | 4,594,871 | ||||||
JBS SA | 34,951 | 98,325 | ||||||
Kroton Educacional SA | 106,087 | 434,103 | ||||||
Lojas Renner SA | 100,132 | 1,034,882 | ||||||
Natura Cosmeticos SA | 26,845 | 258,467 | ||||||
Odontoprev SA | 176,089 | 791,012 | ||||||
Petroleo Brasileiro SA Preference Shares ADR (a) | 266,851 | 3,466,394 | ||||||
Porto Seguro SA | 10,196 | 148,970 | ||||||
Qualicorp SA | 79,695 | 534,241 | ||||||
Raia Drogasil SA | 29,049 | 653,769 | ||||||
Sul America SA | 55,047 | 363,546 | ||||||
Tim Participacoes SA ADR | 23,646 | 512,409 | ||||||
Vale SA ADR (b) | 261,831 | 3,330,490 | ||||||
|
| |||||||
29,550,197 | ||||||||
|
| |||||||
CANADA — 6.1% | ||||||||
Agnico Eagle Mines, Ltd. | 12,999 | 546,477 | ||||||
Alimentation Couche-Tard, Inc. Class B (b) | 23,248 | 1,039,916 | ||||||
Bank of Montreal | 55,351 | 4,178,212 | ||||||
Bank of Nova Scotia | 86,760 | 5,340,526 | ||||||
Barrick Gold Corp. | 93,473 | 1,163,655 | ||||||
BlackBerry, Ltd. (a) | 46,415 | 533,183 | ||||||
Bombardier, Inc. Class B (a) | 165,402 | 481,099 | ||||||
Brookfield Asset Management, Inc. Class A | 86,356 | 3,363,815 | ||||||
CAE, Inc. | 52,280 | 972,406 | ||||||
Cameco Corp. | 38,531 | 349,969 | ||||||
Canadian Imperial Bank of Commerce (b) | 34,257 | 3,021,684 | ||||||
Canadian National Railway Co. | 64,429 | 4,705,553 | ||||||
Canadian Natural Resources, Ltd. | 98,751 | 3,102,126 | ||||||
Canadian Pacific Railway, Ltd. | 12,657 | 2,230,499 | ||||||
Canadian Tire Corp., Ltd. Class A (b) | 11,259 | 1,479,368 | ||||||
Cenovus Energy, Inc. | 74,843 | 636,826 | ||||||
CGI Group, Inc. Class A (a) | 12,015 | 692,429 | ||||||
Constellation Software, Inc. | 1,410 | 956,022 | ||||||
Crescent Point Energy Corp. (b) | 42,163 | 286,483 | ||||||
Dollarama, Inc. | 3,960 | 480,944 |
1
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Enbridge, Inc. | 84,905 | $ | 2,668,490 | |||||
Encana Corp. | 75,240 | 826,954 | ||||||
Fairfax Financial Holdings, Ltd. | 1,255 | 635,721 | ||||||
First Quantum Minerals, Ltd. | 57,355 | 804,772 | ||||||
Franco-Nevada Corp. | 12,999 | 886,261 | ||||||
Gildan Activewear, Inc. | 49,748 | 1,435,814 | ||||||
Goldcorp, Inc. | 68,981 | 951,849 | ||||||
H&R Real Estate Investment Trust | 3,804 | 62,050 | ||||||
Husky Energy, Inc. | 39,149 | 559,944 | ||||||
IGM Financial, Inc. (b) | 19,828 | 579,345 | ||||||
Imperial Oil, Ltd. | 43,724 | 1,157,156 | ||||||
Kinross Gold Corp. (a) | 117,905 | 465,493 | ||||||
Loblaw Cos., Ltd. | 38,962 | 1,967,063 | ||||||
Magna International, Inc. | 16,865 | 949,306 | ||||||
Manulife Financial Corp. | 137,007 | 2,541,949 | ||||||
National Bank of Canada | 41,892 | 1,970,394 | ||||||
Nutrien, Ltd. (b) | 70,254 | 3,318,027 | ||||||
Onex Corp. | 6,833 | 492,474 | ||||||
Open Text Corp. | 19,835 | 689,552 | ||||||
Pembina Pipeline Corp. | 2,144 | 66,852 | ||||||
PrairieSky Royalty, Ltd. (b) | 4,552 | 99,461 | ||||||
Restaurant Brands International, Inc. | 12,183 | 692,851 | ||||||
Rogers Communications, Inc. Class B | 46,414 | 2,071,485 | ||||||
Royal Bank of Canada | 109,585 | 8,459,103 | ||||||
Seven Generations Energy, Ltd. Class A (a) | 11,081 | 137,519 | ||||||
Shaw Communications, Inc. Class B | 49,731 | 957,396 | ||||||
Shopify, Inc. Class A (a) | 4,900 | 609,322 | ||||||
SmartCentres Real Estate Investment Trust | 6,559 | 148,096 | ||||||
SNC-Lavalin Group, Inc. | 25,991 | 1,140,439 | ||||||
Sun Life Financial, Inc. | 55,314 | 2,270,051 | ||||||
Suncor Energy, Inc. | 116,702 | 4,027,203 | ||||||
Teck Resources, Ltd. Class B | 41,726 | 1,073,856 | ||||||
TELUS Corp. | 32,559 | 1,142,501 | ||||||
Thomson Reuters Corp. | 40,856 | 1,577,832 | ||||||
Toronto-Dominion Bank | 138,395 | 7,848,019 | ||||||
TransCanada Corp. (b) | 58,475 | 2,416,558 | ||||||
Turquoise Hill Resources, Ltd. (a) | 17,580 | 53,725 | ||||||
Valeant Pharmaceuticals International, Inc. (a) | 28,602 | 455,014 | ||||||
West Fraser Timber Co., Ltd. | 6,842 | 454,329 | ||||||
Wheaton Precious Metals Corp. | 31,106 | 633,339 | ||||||
|
| |||||||
94,858,757 | ||||||||
|
| |||||||
CHILE — 0.3% | ||||||||
Embotelladora Andina SA Class B, Preference Shares | 23,791 | 116,818 | ||||||
Enel Americas SA ADR | 196,469 | 2,282,970 | ||||||
Enel Chile SA ADR | 149,679 | 957,946 | ||||||
Enel Generacion Chile SA ADR | 48,561 | 1,155,266 | ||||||
Sociedad Quimica y Minera de Chile SA ADR (b) | 11,396 | 560,113 | ||||||
|
| |||||||
5,073,113 | ||||||||
|
|
Security Description | Shares | Value | ||||||
CHINA — 7.4% | ||||||||
58.com, Inc. ADR (a) | 3,196 | $ | 255,233 | |||||
AAC Technologies Holdings, Inc. | 86,000 | 1,551,623 | ||||||
Agricultural Bank of China, Ltd. Class H | 2,242,000 | 1,274,075 | ||||||
Air China, Ltd. Class H | 64,000 | 81,546 | ||||||
Alibaba Group Holding, Ltd. ADR (a) (b) | 74,861 | 13,739,988 | ||||||
Alibaba Health Information Technology, Ltd. (a) (b) | 84,000 | 41,742 | ||||||
Anhui Conch Cement Co., Ltd. Class H | 8,500 | 46,300 | ||||||
ANTA Sports Products, Ltd. | 29,000 | 146,325 | ||||||
Autohome, Inc. ADR | 1,312 | 112,753 | ||||||
AviChina Industry & Technology Co., Ltd. Class H (b) | 612,000 | 431,222 | ||||||
Baidu, Inc. ADR (a) | 20,028 | 4,470,049 | ||||||
Bank of China, Ltd. Class H | 6,168,436 | 3,316,744 | ||||||
Bank of Communications Co., Ltd. Class H | 1,232,710 | 965,963 | ||||||
Beijing Enterprises Water Group, Ltd. | 424,000 | 236,627 | ||||||
Brilliance China Automotive Holdings, Ltd. | 326,000 | 680,387 | ||||||
Byd Co., Ltd. Class H (b) | 24,500 | 191,048 | ||||||
CGN PowerCo.,Ltd.Class H (b) (c) | 192,400 | 49,765 | ||||||
China CITIC Bank Corp., Ltd. Class H | 595,000 | 406,356 | ||||||
China Communications Construction Co., Ltd. Class H | 380,000 | 390,250 | ||||||
China Conch Venture Holdings, Ltd. | 16,000 | 48,826 | ||||||
China Construction Bank Corp. Class H | 5,177,720 | 5,317,384 | ||||||
China Everbright Bank Co., Ltd. Class H | 36,000 | 17,293 | ||||||
China Everbright International, Ltd. | 26,000 | 36,441 | ||||||
China Everbright, Ltd. | 44,000 | 92,168 | ||||||
China Evergrande Group (a) (b) | 242,000 | 761,617 | ||||||
China Galaxy Securities Co., Ltd. Class H | 201,500 | 134,020 | ||||||
China Huishan Dairy Holdings Co., Ltd. (a) (b) (d) | 1,418,000 | — | ||||||
China Life Insurance Co., Ltd. Class H | 623,000 | 1,714,613 | ||||||
China Mengniu Dairy Co., Ltd. | 442,000 | 1,514,952 | ||||||
China Merchants Bank Co., Ltd. Class H | 480,514 | 1,968,391 | ||||||
China Merchants Port Holdings Co., Ltd. | 455,366 | 1,003,763 | ||||||
China Minsheng Banking Corp., Ltd. Class H (b) | 318,500 | 309,641 | ||||||
China Mobile, Ltd. | 506,000 | 4,638,801 | ||||||
China Oilfield Services, Ltd. Class H | 100,000 | 103,080 |
2
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
China Overseas Land & Investment, Ltd. | 402,000 | $ | 1,395,780 | |||||
China Pacific Insurance Group Co., Ltd. Class H | 201,200 | 901,110 | ||||||
China Petroleum & Chemical Corp. Class H | 2,509,800 | 2,203,346 | ||||||
China Railway Construction Corp., Ltd. Class H | 126,000 | 126,188 | ||||||
China Railway Group, Ltd. Class H | 254,000 | 176,058 | ||||||
China Resources Beer Holdings Co., Ltd. | 403,670 | 1,748,758 | ||||||
China Resources Land, Ltd. | 52,000 | 189,162 | ||||||
China Shenhua Energy Co., Ltd. Class H | 198,500 | 493,196 | ||||||
China Southern Airlines Co., Ltd. Class H | 110,000 | 113,528 | ||||||
China Taiping Insurance Holdings Co., Ltd. | 150,200 | 496,629 | ||||||
China Telecom Corp., Ltd. Class H | 1,950,000 | 859,677 | ||||||
China Unicom Hong Kong, Ltd. (a) | 796,000 | 1,004,090 | ||||||
China Vanke Co., Ltd. Class H | 76,100 | 347,130 | ||||||
CITIC Securities Co., Ltd. Class H | 115,500 | 264,309 | ||||||
CITIC, Ltd. | 402,000 | 562,410 | ||||||
CNOOC, Ltd. | 1,614,217 | 2,377,629 | ||||||
COSCO SHIPPING Ports, Ltd. | 516,042 | 433,964 | ||||||
Country Garden Holdings Co., Ltd. | 232,000 | 477,698 | ||||||
CRRC Corp., Ltd. Class H | 347,000 | 295,788 | ||||||
CSPC Pharmaceutical Group, Ltd. | 440,000 | 1,168,916 | ||||||
Ctrip.com International, Ltd. ADR (a) | 14,259 | 664,755 | ||||||
ENN Energy Holdings, Ltd. | 38,000 | 339,411 | ||||||
Fosun International, Ltd. | 92,500 | 200,362 | ||||||
Geely Automobile Holdings, Ltd. | 995,000 | 2,865,206 | ||||||
GF Securities Co., Ltd. Class H | 153,200 | 281,481 | ||||||
GOME Retail Holdings, Ltd. (b) | 1,618,000 | 175,235 | ||||||
Great Wall Motor Co., Ltd. Class H (b) | 274,500 | 275,259 | ||||||
Guangzhou Automobile Group Co., Ltd. Class H | 104,000 | 191,613 | ||||||
Haitong Securities Co., Ltd. Class H | 157,600 | 208,439 | ||||||
Hengan International Group Co., Ltd. | 100,000 | 926,315 | ||||||
Huaneng Power International, Inc. Class H | 860,000 | 577,475 | ||||||
Huaneng Renewables Corp., Ltd. Class H | 912,000 | 340,476 | ||||||
Huatai Securities Co., Ltd. Class H (c) | 160,600 | 308,992 | ||||||
Industrial & Commercial Bank of China, Ltd. Class H | 5,429,045 | 4,655,463 | ||||||
JD.com, Inc. ADR (a) | 50,970 | 2,063,775 |
Security Description | Shares | Value | ||||||
Jiangsu Expressway Co., Ltd. Class H | 14,000 | $ | 19,800 | |||||
Kingsoft Corp., Ltd. | 156,000 | 494,935 | ||||||
Lenovo Group, Ltd. (b) | 450,000 | 229,922 | ||||||
Momo, Inc. ADR (a) | 6,200 | 231,756 | ||||||
NetEase, Inc. ADR | 5,153 | 1,444,850 | ||||||
New China Life Insurance Co., Ltd. Class H | 75,300 | 350,677 | ||||||
New Oriental Education & Technology Group, Inc. ADR | 6,289 | 551,231 | ||||||
PetroChina Co., Ltd. Class H | 1,558,000 | 1,069,992 | ||||||
PICC Property & Casualty Co., Ltd. Class H | 439,610 | 769,624 | ||||||
Ping An Insurance Group Co. of China, Ltd. Class H | 400,000 | 4,067,123 | ||||||
Semiconductor Manufacturing International Corp. (a) (b) | 109,400 | 143,017 | ||||||
Shandong Weigao Group Medical Polymer Co., Ltd. Class H | 124,000 | 82,632 | ||||||
Shanghai Electric Group Co., Ltd. Class H (a) (b) | 334,000 | 115,755 | ||||||
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B | 84,940 | 121,124 | ||||||
Shanghai Pharmaceuticals Holding Co., Ltd. Class H | 35,700 | 95,524 | ||||||
Sihuan Pharmaceutical Holdings Group, Ltd. | 129,000 | 38,133 | ||||||
SINA Corp. (a) | 3,352 | 349,513 | ||||||
Sinopec Shanghai Petrochemical Co., Ltd. Class H | 326,000 | 198,135 | ||||||
Sinopharm Group Co., Ltd. Class H | 69,200 | 346,516 | ||||||
Sunac China Holdings, Ltd. (b) | 164,300 | 634,314 | ||||||
Sunny Optical Technology Group Co., Ltd. | 36,600 | 675,731 | ||||||
TAL Education Group ADR | 10,761 | 399,125 | ||||||
Tencent Holdings, Ltd. | 422,000 | 22,024,031 | ||||||
Tingyi Cayman Islands Holding Corp. | 398,000 | 825,585 | ||||||
TravelSky Technology, Ltd. Class H | 56,000 | 162,328 | ||||||
Tsingtao Brewery Co., Ltd. Class H | 8,000 | 41,792 | ||||||
Vipshop Holdings, Ltd. ADR (a) | 19,185 | 318,855 | ||||||
Want Want China Holdings, Ltd. | 199,000 | 159,488 | ||||||
Weibo Corp. ADR | 3,020 | 361,011 | ||||||
Yanzhou Coal Mining Co., Ltd. Class H | 396,000 | 504,568 | ||||||
Yum China Holdings, Inc. | 20,824 | 864,196 | ||||||
YY, Inc. ADR (a) | 2,950 | 310,340 | ||||||
Zhuzhou CRRC Times Electric Co., Ltd. Class H | 82,700 | 400,418 | ||||||
Zijin Mining Group Co., Ltd. Class H (b) | 1,558,000 | 696,785 | ||||||
ZTE Corp. Class H (a) (b) | 39,200 | 127,615 | ||||||
|
| |||||||
114,985,050 | ||||||||
|
|
3
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COLOMBIA — 0.1% | ||||||||
Bancolombia SA ADR | 25,637 | $ | 1,077,267 | |||||
Cementos Argos SA | 112,580 | 390,569 | ||||||
|
| |||||||
1,467,836 | ||||||||
|
| |||||||
DENMARK — 1.2% | ||||||||
AP Moeller - Maersk A/S Class B | 1,000 | 1,541,685 | ||||||
Danske Bank A/S | 67,415 | 2,507,110 | ||||||
DSV A/S | 46,590 | 3,645,933 | ||||||
Genmab A/S (a) | 2,819 | 603,716 | ||||||
Novo Nordisk A/S Class B | 153,188 | 7,519,251 | ||||||
Novozymes A/S Class B | 14,633 | 754,236 | ||||||
Pandora A/S | 8,156 | 874,420 | ||||||
Vestas Wind Systems A/S | 20,224 | 1,434,156 | ||||||
|
| |||||||
18,880,507 | ||||||||
|
| |||||||
EGYPT — 0.1% | ||||||||
Commercial International Bank Egypt SAE | 147,670 | 745,553 | ||||||
Global Telecom Holding SAE (a) | 750,759 | 279,778 | ||||||
|
| |||||||
1,025,331 | ||||||||
|
| |||||||
FINLAND — 0.8% | ||||||||
Elisa Oyj (b) | 10,558 | 477,450 | ||||||
Fortum Oyj (b) | 11,672 | 250,492 | ||||||
Kone Oyj Class B | 31,381 | 1,564,212 | ||||||
Metso Oyj (b) | 26,215 | 825,680 | ||||||
Neste Oyj (b) | 9,472 | 659,341 | ||||||
Nokia Oyj (e) | 210,629 | 1,161,804 | ||||||
Nokia Oyj (e) | 111,591 | 614,425 | ||||||
Sampo Oyj Class A | 33,151 | 1,845,285 | ||||||
Stora Enso Oyj Class R (b) | 69,860 | 1,282,316 | ||||||
UPM-Kymmene Oyj | 60,527 | 2,240,619 | ||||||
Wartsila Oyj Abp | 32,940 | 727,177 | ||||||
|
| |||||||
11,648,801 | ||||||||
|
| |||||||
FRANCE — 7.1% | ||||||||
Accor SA | 24,907 | 1,343,208 | ||||||
Air Liquide SA | 36,766 | 4,498,156 | ||||||
Airbus SE | 47,480 | 5,477,291 | ||||||
Alstom SA | 21,216 | 955,247 | ||||||
AXA SA | 134,839 | 3,581,967 | ||||||
BNP Paribas SA | 78,031 | 5,774,302 | ||||||
Bouygues SA | 24,030 | 1,203,115 | ||||||
Capgemini SE | 15,617 | 1,943,705 | ||||||
Carrefour SA | 67,586 | 1,400,583 | ||||||
Cie de Saint-Gobain | 35,937 | 1,894,289 | ||||||
Cie Generale des Etablissements Michelin SCA | 13,972 | 2,060,298 | ||||||
Credit Agricole SA | 79,999 | 1,299,198 | ||||||
Danone SA | 55,243 | 4,465,738 | ||||||
Electricite de France SA | 6,506 | 94,097 | ||||||
Engie SA | 93,324 | 1,555,769 | ||||||
Essilor International Cie Generale d’Optique SA | 21,112 | 2,845,720 | ||||||
Hermes International | 1,014 | 600,463 | ||||||
ICADE REIT | 676 | 65,596 | ||||||
Kering SA | 7,301 | 3,491,089 |
Security Description | Shares | Value | ||||||
Klepierre SA REIT | 3,508 | $ | 141,294 | |||||
Lagardere SCA | 18,016 | 514,042 | ||||||
Legrand SA | 19,995 | 1,566,438 | ||||||
L’Oreal SA | 23,057 | 5,199,194 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 21,207 | 6,525,576 | ||||||
Orange SA | 177,848 | 3,015,144 | ||||||
Pernod Ricard SA | 18,453 | 3,069,422 | ||||||
Peugeot SA | 34,773 | 836,067 | ||||||
Publicis Groupe SA | 25,917 | 1,803,433 | ||||||
Renault SA | 16,760 | 2,030,311 | ||||||
Safran SA | 22,546 | 2,384,071 | ||||||
Sanofi | 92,478 | 7,430,249 | ||||||
Schneider Electric SE | 48,461 | 4,251,848 | ||||||
Societe Generale SA | 56,815 | 3,085,634 | ||||||
Sodexo SA | 14,036 | 1,413,773 | ||||||
TOTAL SA (b) | 180,943 | 10,265,439 | ||||||
Unibail-Rodamco SE REIT | 7,015 | 1,601,677 | ||||||
Valeo SA | 17,219 | 1,135,923 | ||||||
Veolia Environnement SA | 42,688 | 1,010,360 | ||||||
Vinci SA | 45,044 | 4,426,251 | ||||||
Vivendi SA | 115,043 | 2,971,199 | ||||||
|
| |||||||
109,227,176 | ||||||||
|
| |||||||
GERMANY — 6.4% | ||||||||
adidas AG | 16,489 | 3,987,866 | ||||||
Allianz SE | 40,416 | 9,116,014 | ||||||
BASF SE | 72,220 | 7,324,969 | ||||||
Bayer AG | 66,057 | 7,457,041 | ||||||
Bayerische Motoren Werke AG | 26,193 | 2,839,618 | ||||||
Commerzbank AG (a) | 59,485 | 771,374 | ||||||
Continental AG | 8,393 | 2,315,255 | ||||||
Covestro AG (c) | 1,290 | 126,698 | ||||||
Daimler AG | 73,159 | 6,205,550 | ||||||
Deutsche Bank AG | 136,336 | 1,899,063 | ||||||
Deutsche Boerse AG | 24,047 | 3,270,908 | ||||||
Deutsche Lufthansa AG | 37,068 | 1,182,555 | ||||||
Deutsche Post AG | 98,926 | 4,321,512 | ||||||
Deutsche Telekom AG | 268,971 | 4,383,022 | ||||||
E.ON SE | 171,858 | 1,906,464 | ||||||
Fresenius Medical Care AG & Co. KGaA | 27,844 | 2,841,563 | ||||||
Fresenius SE & Co. KGaA | 30,147 | 2,300,955 | ||||||
Henkel AG & Co. KGaA Preference Shares | 7,005 | 920,524 | ||||||
Infineon Technologies AG | 38,560 | 1,030,977 | ||||||
KS AG | 5,857 | 168,844 | ||||||
Linde AG (e) | 3 | 601 | ||||||
Linde AG (a) (e) | 12,776 | 2,688,421 | ||||||
MAN SE | 4,482 | 522,280 | ||||||
Merck KGaA | 20,440 | 1,958,261 | ||||||
METRO AG | 18,216 | 322,379 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 19,220 | 4,463,984 | ||||||
OSRAM Licht AG | 7,445 | 547,177 | ||||||
RWE AG (a) | 44,322 | 1,093,459 | ||||||
SAP SE | 85,152 | 8,898,417 | ||||||
Siemens AG | 67,586 | 8,604,652 |
4
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
ThyssenKrupp AG | 36,282 | $ | 945,528 | |||||
TUI AG | 28,958 | 620,708 | ||||||
United Internet AG | 1,560 | 98,039 | ||||||
Volkswagen AG | 5,659 | 1,131,651 | ||||||
Volkswagen AG Preference Shares | 10,670 | 2,117,710 | ||||||
Vonovia SE | 23,732 | 1,174,769 | ||||||
|
| |||||||
99,558,808 | ||||||||
|
| |||||||
GREECE — 0.1% | ||||||||
Alpha Bank AE (a) | 98,055 | 208,626 | ||||||
Eurobank Ergasias SA (a) | 123,333 | 116,415 | ||||||
Hellenic Telecommunications Organization SA | 2,846 | 38,432 | ||||||
JUMBO SA | 27,278 | 486,444 | ||||||
National Bank of Greece SA (a) | 459,502 | 147,609 | ||||||
OPAP SA | 39,251 | 448,455 | ||||||
Piraeus Bank SA (a) | 30,719 | 97,094 | ||||||
|
| |||||||
1,543,075 | ||||||||
|
| |||||||
HONG KONG — 2.8% | ||||||||
AIA Group, Ltd. | 961,400 | 8,133,858 | ||||||
Alibaba Pictures Group, Ltd. (a) (b) | 510,000 | 66,282 | ||||||
ASM Pacific Technology, Ltd. | 7,400 | 103,340 | ||||||
Bank of East Asia, Ltd. | 361,040 | 1,439,873 | ||||||
BOC Hong Kong Holdings, Ltd. | 173,500 | 844,476 | ||||||
CK Asset Holdings, Ltd. | 230,032 | 1,930,049 | ||||||
CK Hutchison Holdings, Ltd. | 279,532 | 3,344,426 | ||||||
CLP Holdings, Ltd. | 118,000 | 1,201,305 | ||||||
Fullshare Holdings, Ltd. (a) (b) | 380,000 | 210,619 | ||||||
Galaxy Entertainment Group, Ltd. | 180,000 | 1,634,112 | ||||||
Haier Electronics Group Co., Ltd. | 23,000 | 81,909 | ||||||
Hanergy Thin Film Power Group, Ltd. (a) (d) | 448,000 | — | ||||||
Hang Lung Properties, Ltd. | 402,000 | 936,325 | ||||||
Hang Seng Bank, Ltd. | 60,000 | 1,388,326 | ||||||
Henderson Land Development Co., Ltd. | 220,263 | 1,434,124 | ||||||
Hong Kong & China Gas Co., Ltd. | 1,395,252 | 2,865,775 | ||||||
Hong Kong Exchanges & Clearing, Ltd. | 107,650 | 3,500,412 | ||||||
Jardine Matheson Holdings, Ltd. | 3,200 | 197,184 | ||||||
Jardine Strategic Holdings, Ltd. | 1,000 | 38,340 | ||||||
Li & Fung, Ltd. | 804,000 | 393,379 | ||||||
Link REIT | 319,286 | 2,725,706 | ||||||
Melco Resorts & Entertainment, Ltd. ADR | 6,582 | 190,746 | ||||||
New World Development Co., Ltd. | 884,740 | 1,249,050 | ||||||
Sands China, Ltd. | 240,800 | 1,294,772 | ||||||
Shangri-La Asia, Ltd. | 400,333 | 805,940 | ||||||
Sino Biopharmaceutical, Ltd. | 768,000 | 1,506,976 | ||||||
SJM Holdings, Ltd. | 38,000 | 33,021 | ||||||
Sun Art Retail Group, Ltd. | 228,000 | 265,235 | ||||||
Sun Hung Kai Properties, Ltd. | 188,185 | 2,973,248 |
Security Description | Shares | Value | ||||||
Swire Pacific, Ltd. Class A | 111,006 | $ | 1,119,494 | |||||
Techtronic Industries Co., Ltd. | 178,500 | 1,040,528 | ||||||
WH Group, Ltd. (c) | 298,101 | 317,537 | ||||||
Wharf Holdings, Ltd. | 6,000 | 20,603 | ||||||
Wharf Real Estate Investment Co., Ltd. (a) | 6,000 | 39,066 | ||||||
Wheelock & Co., Ltd. | 6,000 | 43,844 | ||||||
|
| |||||||
43,369,880 | ||||||||
|
| |||||||
HUNGARY — 0.1% | ||||||||
MOL Hungarian Oil & Gas PLC | 99,524 | 1,086,846 | ||||||
OTP Bank PLC | 24,681 | 1,110,391 | ||||||
|
| |||||||
2,197,237 | ||||||||
|
| |||||||
INDIA — 1.9% | ||||||||
ACC, Ltd. | 24,680 | 570,441 | ||||||
Adani Ports & Special Economic Zone, Ltd. | 50,610 | 274,771 | ||||||
Ambuja Cements, Ltd. | 127,090 | 453,923 | ||||||
Apollo Hospitals Enterprise, Ltd. | 369 | 6,023 | ||||||
Aurobindo Pharma, Ltd. | 28,542 | 244,124 | ||||||
Axis Bank, Ltd. | 79,563 | 622,751 | ||||||
Bajaj Auto, Ltd. | 5,842 | 245,847 | ||||||
Bajaj Finance, Ltd. | 17,551 | 475,643 | ||||||
Bajaj Finserv, Ltd. | 1,940 | 153,826 | ||||||
Bharat Forge, Ltd. | 9,570 | 102,660 | ||||||
Bharat Heavy Electricals, Ltd. | 103,808 | 129,478 | ||||||
Bharat Petroleum Corp., Ltd. | 45,411 | 297,615 | ||||||
Bharti Airtel, Ltd. | 31,397 | 191,930 | ||||||
Bharti Infratel, Ltd. | 68,128 | 351,129 | ||||||
Bosch, Ltd. | 134 | 37,018 | ||||||
Cadila Healthcare, Ltd. | 7,660 | 44,377 | ||||||
Dabur India, Ltd. | 60,009 | 302,153 | ||||||
Dr Reddy’s Laboratories, Ltd. ADR (b) | 19,800 | 647,262 | ||||||
Eicher Motors, Ltd. | 801 | 348,450 | ||||||
Glenmark Pharmaceuticals, Ltd. | 19,577 | 157,975 | ||||||
Godrej Consumer Products, Ltd. | 25,916 | 434,564 | ||||||
HCL Technologies, Ltd. | 39,793 | 590,961 | ||||||
Hindalco Industries, Ltd. | 18,538 | 60,982 | ||||||
Hindustan Petroleum Corp., Ltd. | 45,017 | 238,021 | ||||||
Hindustan Unilever, Ltd. | 45,570 | 931,603 | ||||||
Housing Development Finance Corp., Ltd. | 94,843 | 2,654,720 | ||||||
ICICI Bank, Ltd. ADR | 114,403 | 1,012,467 | ||||||
Idea Cellular, Ltd. (a) | 63,901 | 74,363 | ||||||
Indiabulls Housing Finance, Ltd. | 23,950 | 454,329 | ||||||
Indian Oil Corp., Ltd. | 35,414 | 95,890 | ||||||
Infosys, Ltd. ADR (b) | 172,810 | 3,084,658 | ||||||
ITC, Ltd. | 185,947 | 728,430 | ||||||
LIC Housing Finance, Ltd. | 33,503 | 274,510 | ||||||
Lupin, Ltd. | 10,764 | 121,443 | ||||||
Mahindra & Mahindra Financial Services, Ltd. | 111,006 | 788,442 | ||||||
Mahindra & Mahindra, Ltd., GDR | 70,117 | 806,345 | ||||||
Marico, Ltd. | 94,566 | 472,745 | ||||||
Maruti Suzuki India, Ltd. | 2,827 | 384,080 |
5
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Motherson Sumi Systems, Ltd. | 18,316 | $ | 87,323 | |||||
Nestle India, Ltd. | 3,700 | 465,384 | ||||||
Piramal Enterprises, Ltd. | 5,923 | 220,935 | ||||||
Power Finance Corp., Ltd. | 58,326 | 76,594 | ||||||
Reliance Industries, Ltd. GDR (c) | 141,135 | 3,824,758 | ||||||
Rural Electrification Corp., Ltd. | 19,627 | 37,526 | ||||||
Shree Cement, Ltd. | 1,990 | 494,175 | ||||||
Shriram Transport Finance Co., Ltd. | 27,105 | 598,273 | ||||||
Siemens, Ltd. | 32,620 | 536,576 | ||||||
State Bank of India | 8,543 | 32,733 | ||||||
Sun Pharmaceutical Industries, Ltd. | 42,502 | 322,634 | ||||||
Tata Consultancy Services, Ltd. | 22,046 | 963,059 | ||||||
Tata Motors, Ltd. ADR (a) | 40,172 | 1,032,420 | ||||||
Tata Power Co., Ltd. | 264,624 | 320,527 | ||||||
Tech Mahindra, Ltd. | 8,228 | 80,575 | ||||||
United Spirits, Ltd. (a) | 4,521 | 216,939 | ||||||
UPL, Ltd. | 21,265 | 238,092 | ||||||
Vedanta, Ltd. | 37,833 | 161,172 | ||||||
Yes Bank, Ltd. | 60,349 | 282,075 | ||||||
Zee Entertainment Enterprises, Ltd. | 85,751 | 756,645 | ||||||
|
| |||||||
29,614,364 | ||||||||
|
| |||||||
INDONESIA — 0.5% | ||||||||
Adaro Energy Tbk PT | 399,000 | 61,730 | ||||||
Astra International Tbk PT | 2,159,200 | 1,144,882 | ||||||
Bank Central Asia Tbk PT | 703,400 | 1,190,428 | ||||||
Bank Danamon Indonesia Tbk PT | 17,500 | 8,739 | ||||||
Bank Mandiri Persero Tbk PT | 1,634,700 | 911,300 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 7,734,700 | 2,022,511 | ||||||
Bumi Serpong Damai Tbk PT | 202,500 | 26,181 | ||||||
Charoen Pokphand Indonesia Tbk PT | 2,068,600 | 518,371 | ||||||
Gudang Garam Tbk PT | 98,500 | 518,525 | ||||||
Matahari Department Store Tbk PT | 217,400 | 172,909 | ||||||
Surya Citra Media Tbk PT | 36,500 | 7,185 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 5,543,900 | 1,449,649 | ||||||
United Tractors Tbk PT | 52,400 | 121,794 | ||||||
|
| |||||||
8,154,204 | ||||||||
|
| |||||||
IRELAND — 0.5% | ||||||||
Bank of Ireland Group PLC (a) | 75,520 | 660,365 | ||||||
CRH PLC | 72,031 | 2,442,353 | ||||||
James Hardie Industries PLC | 107,236 | 1,881,180 | ||||||
Kerry Group PLC Class A | 17,438 | 1,767,161 | ||||||
Paddy Power Betfair PLC | 1,619 | 166,160 | ||||||
|
| |||||||
6,917,219 | ||||||||
|
| |||||||
ISRAEL — 0.4% | ||||||||
Bank Hapoalim BM | 233,095 | 1,596,082 | ||||||
Bank Leumi Le-Israel BM | 230,453 | 1,385,665 | ||||||
Check Point Software Technologies, Ltd. (a) | 818 | 81,260 |
Security Description | Shares | Value | ||||||
Nice, Ltd. | 10,634 | $ | 986,512 | |||||
Teva Pharmaceutical Industries, Ltd. ADR (b) | 75,679 | 1,293,354 | ||||||
|
| |||||||
5,342,873 | ||||||||
|
| |||||||
ITALY — 1.4% | ||||||||
Assicurazioni Generali SpA | 93,873 | 1,803,902 | ||||||
Atlantia SpA | 70,855 | 2,191,597 | ||||||
Enel SpA | 535,902 | 3,275,624 | ||||||
Eni SpA | 184,694 | 3,245,462 | ||||||
Ferrari NV | 14,776 | 1,772,523 | ||||||
Intesa Sanpaolo SpA | 966,779 | 3,511,693 | ||||||
Leonardo SpA | 52,841 | 609,444 | ||||||
Mediobanca Banca di Credito Finanziario SpA | 64,207 | 753,958 | ||||||
Snam SpA | 181,427 | 832,937 | ||||||
Telecom Italia SpA/Milano (a) | 1,322,311 | 1,253,835 | ||||||
UniCredit SpA (a) | 123,941 | 2,589,462 | ||||||
|
| |||||||
21,840,437 | ||||||||
|
| |||||||
JAPAN — 16.5% | ||||||||
Acom Co., Ltd. (a) (b) | 43,800 | 194,392 | ||||||
Aeon Co., Ltd. | 59,800 | 1,056,832 | ||||||
Aisin Seiki Co., Ltd. | 38,700 | 2,088,745 | ||||||
Ajinomoto Co., Inc. | 24,900 | 449,183 | ||||||
Alps Electric Co., Ltd. (b) | 6,100 | 148,557 | ||||||
Asahi Glass Co., Ltd. | 35,000 | 1,446,403 | ||||||
Asahi Group Holdings, Ltd. | 60,200 | 3,220,856 | ||||||
Asahi Kasei Corp. | 170,600 | 2,243,386 | ||||||
Astellas Pharma, Inc. | 241,600 | 3,671,139 | ||||||
Bridgestone Corp. | 60,200 | 2,619,705 | ||||||
Canon, Inc. | 80,000 | 2,896,098 | ||||||
Central Japan Railway Co. | 10,200 | 1,928,745 | ||||||
Chiba Bank, Ltd. | 192,000 | 1,547,193 | ||||||
Chubu Electric Power Co., Inc. | 80,200 | 1,143,991 | ||||||
Concordia Financial Group, Ltd. | 201,000 | 1,120,762 | ||||||
Credit Saison Co., Ltd. | 59,700 | 984,615 | ||||||
Dai-ichi Life Holdings, Inc. | 57,400 | 1,049,770 | ||||||
Daiichi Sankyo Co., Ltd. | 80,300 | 2,669,116 | ||||||
Daikin Industries, Ltd. | 17,300 | 1,894,297 | ||||||
Daiwa Securities Group, Inc. | 199,000 | 1,265,479 | ||||||
Denso Corp. | 40,200 | 2,185,580 | ||||||
Dentsu, Inc. | 2,200 | 96,192 | ||||||
East Japan Railway Co. | 39,700 | 3,685,175 | ||||||
Eisai Co., Ltd. | 20,100 | 1,282,544 | ||||||
Electric Power Development Co., Ltd. | 20,100 | 514,076 | ||||||
FANUC Corp. | 17,700 | 4,422,087 | ||||||
Fast Retailing Co., Ltd. | 1,900 | 749,281 | ||||||
FUJIFILM Holdings Corp. | 59,900 | 2,363,332 | ||||||
Fujitsu, Ltd. | 201,000 | 1,207,701 | ||||||
Hitachi, Ltd. | 401,000 | 2,877,321 | ||||||
Honda Motor Co., Ltd. | 140,500 | 4,810,160 | ||||||
Hoya Corp. | 40,200 | 2,006,787 | ||||||
Inpex Corp. | 79,600 | 970,394 | ||||||
ITOCHU Corp. | 197,200 | 3,804,004 | ||||||
Japan Real Estate Investment Corp. REIT | 240 | 1,243,441 |
6
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Japan Retail Fund Investment Corp. REIT | 751 | $ | 1,454,687 | |||||
Japan Tobacco, Inc. | 80,300 | 2,291,589 | ||||||
JFE Holdings, Inc. | 42,800 | 852,177 | ||||||
JSR Corp. | 40,200 | 893,207 | ||||||
JXTG Holdings, Inc. | 324,908 | 1,947,920 | ||||||
Kajima Corp. | 201,000 | 1,865,416 | ||||||
Kamigumi Co., Ltd. | 85,500 | 1,892,496 | ||||||
Kansai Electric Power Co., Inc. | 99,900 | 1,295,365 | ||||||
Kao Corp. | 38,100 | 2,841,647 | ||||||
KDDI Corp. | 120,600 | 3,068,014 | ||||||
Keikyu Corp. (b) | 104,711 | 1,826,412 | ||||||
Keyence Corp. | 6,700 | 4,126,469 | ||||||
Kintetsu Group Holdings Co., Ltd. (b) | 38,700 | 1,511,975 | ||||||
Kobe Steel, Ltd. (a) | 40,200 | 394,251 | ||||||
Komatsu, Ltd. | 100,300 | 3,305,609 | ||||||
Konica Minolta, Inc. (b) | 100,500 | 843,879 | ||||||
Kose Corp. (b) | 2,200 | 456,963 | ||||||
Kubota Corp. | 122,000 | 2,116,502 | ||||||
Kyocera Corp. | 40,000 | 2,229,243 | ||||||
LIXIL Group Corp. | 39,900 | 876,037 | ||||||
Makita Corp. | 39,800 | 1,946,027 | ||||||
Marubeni Corp. | 200,000 | 1,441,843 | ||||||
Marui Group Co., Ltd. (b) | 70,700 | 1,409,347 | ||||||
Mazda Motor Corp. | 15,600 | 206,753 | ||||||
Mebuki Financial Group, Inc. | 237,200 | 909,992 | ||||||
MEIJI Holdings Co., Ltd. | 3,200 | 244,626 | ||||||
Mitsubishi Chemical Holdings Corp. | 201,000 | 1,927,786 | ||||||
Mitsubishi Corp. | 140,500 | 3,732,795 | ||||||
Mitsubishi Electric Corp. | 200,000 | 3,196,051 | ||||||
Mitsubishi Estate Co., Ltd. | 180,618 | 2,972,087 | ||||||
Mitsubishi Heavy Industries, Ltd. (b) | 38,700 | 1,477,041 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 836,200 | 5,474,810 | ||||||
Mitsui & Co., Ltd. | 197,100 | 3,354,499 | ||||||
Mitsui Chemicals, Inc. | 38,800 | 1,214,894 | ||||||
Mitsui Fudosan Co., Ltd. | 26,000 | 619,013 | ||||||
Mizuho Financial Group, Inc. | 1,158,900 | 2,086,783 | ||||||
MS&AD Insurance Group Holdings, Inc. | 60,200 | 1,854,398 | ||||||
Murata Manufacturing Co., Ltd. | 17,900 | 2,438,843 | ||||||
NEC Corp. | 17,800 | 495,421 | ||||||
Nidec Corp. | 25,000 | 3,784,673 | ||||||
Nintendo Co., Ltd. | 5,900 | 2,588,566 | ||||||
Nippon Steel & Sumitomo Metal Corp. | 65,800 | 1,427,987 | ||||||
Nippon Telegraph & Telephone Corp. | 61,400 | 2,830,116 | ||||||
Nippon Yusen KK | 19,400 | 375,961 | ||||||
Nissan Motor Co., Ltd. (b) | 200,700 | 2,065,502 | ||||||
Nitori Holdings Co., Ltd. | 3,100 | 538,820 | ||||||
Nitto Denko Corp. | 20,000 | 1,487,917 | ||||||
Nomura Holdings, Inc. | 221,400 | 1,272,399 | ||||||
NTT Data Corp. | 100,500 | 1,042,327 | ||||||
NTT DOCOMO, Inc. | 126,300 | 3,194,018 | ||||||
Obayashi Corp. | 145,100 | 1,577,204 |
Security Description | Shares | Value | ||||||
Ono Pharmaceutical Co., Ltd. | 25,100 | $ | 791,352 | |||||
Oriental Land Co., Ltd. | 5,800 | 588,453 | ||||||
ORIX Corp. | 160,300 | 2,831,439 | ||||||
Osaka Gas Co., Ltd. (b) | 77,400 | 1,526,166 | ||||||
Otsuka Holdings Co., Ltd. | 8,700 | 432,996 | ||||||
Panasonic Corp. | 202,200 | 2,858,559 | ||||||
Rakuten, Inc. | 43,900 | 360,281 | ||||||
Recruit Holdings Co., Ltd. | 38,400 | 947,453 | ||||||
Resona Holdings, Inc. | 60,200 | 319,765 | ||||||
Rohm Co., Ltd. | 19,900 | 1,852,468 | ||||||
Ryohin Keikaku Co., Ltd. | 1,300 | 430,277 | ||||||
Secom Co., Ltd. | 20,100 | 1,479,859 | ||||||
Seven & i Holdings Co., Ltd. | 80,300 | 3,421,905 | ||||||
Sharp Corp. (a) (b) | 7,100 | 210,296 | ||||||
Shin-Etsu Chemical Co., Ltd. | 37,700 | 3,855,078 | ||||||
Shionogi & Co., Ltd. | 18,300 | 943,822 | ||||||
Shiseido Co., Ltd. | 21,300 | 1,359,515 | ||||||
Shizuoka Bank, Ltd. | 156,000 | 1,481,523 | ||||||
SMC Corp. | 1,300 | 520,611 | ||||||
SoftBank Group Corp. | 79,400 | 5,827,893 | ||||||
Sompo Holdings, Inc. | 54,700 | 2,181,314 | ||||||
Sony Corp. | 100,100 | 4,809,694 | ||||||
Subaru Corp. | 23,800 | 780,801 | ||||||
Sumitomo Chemical Co., Ltd. | 201,000 | 1,149,111 | ||||||
Sumitomo Corp. | 100,400 | 1,660,589 | ||||||
Sumitomo Electric Industries, Ltd. | 80,300 | 1,212,994 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 64,500 | 2,699,478 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 20,000 | 809,215 | ||||||
Sysmex Corp. | 1,400 | 125,585 | ||||||
T&D Holdings, Inc. | 39,900 | 627,858 | ||||||
Takeda Pharmaceutical Co., Ltd. | 80,300 | 3,865,877 | ||||||
TDK Corp. | 20,100 | 1,759,577 | ||||||
Teijin, Ltd. | 66,700 | 1,254,349 | ||||||
Terumo Corp. | 57,600 | 2,968,011 | ||||||
Tohoku Electric Power Co., Inc. | 40,300 | 543,775 | ||||||
Tokio Marine Holdings, Inc. | 60,200 | 2,701,783 | ||||||
Tokyo Electric Power Co. Holdings, Inc. (a) | 140,400 | 545,230 | ||||||
Tokyo Electron, Ltd. | 20,100 | 3,631,608 | ||||||
Tokyo Gas Co., Ltd. | 70,600 | 1,870,717 | ||||||
Tokyu Corp. | 106,500 | 1,665,346 | ||||||
Toppan Printing Co., Ltd. | 201,000 | 1,632,948 | ||||||
Toray Industries, Inc. | 201,000 | 1,891,876 | ||||||
Toshiba Corp. (a) | 241,000 | 693,427 | ||||||
Toyota Motor Corp. | 201,100 | 12,937,717 | ||||||
Toyota Tsusho Corp. | 60,200 | 2,006,667 | ||||||
West Japan Railway Co. | 20,700 | 1,454,937 | ||||||
Yahoo! Japan Corp. (b) | 261,000 | 1,212,355 | ||||||
Yakult Honsha Co., Ltd. | 900 | 67,109 | ||||||
Yamada Denki Co., Ltd. (b) | 120,900 | 728,697 | ||||||
Yamaha Corp. | 27,500 | 1,190,762 | ||||||
Yamaha Motor Co., Ltd. | 60,300 | 1,771,862 | ||||||
|
| |||||||
255,626,676 | ||||||||
|
| |||||||
LUXEMBOURG — 0.1% | ||||||||
ArcelorMittal (a) | 39,345 | 1,243,583 |
7
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SES SA (b) | 26,032 | $ | 351,690 | |||||
|
| |||||||
1,595,273 | ||||||||
|
| |||||||
MACAU — 0.0% (f) | ||||||||
MGM China Holdings, Ltd. | 62,400 | 161,003 | ||||||
Wynn Macau, Ltd. | 65,200 | 236,349 | ||||||
|
| |||||||
397,352 | ||||||||
|
| |||||||
MALAYSIA — 0.5% | ||||||||
AirAsia Bhd | 541,700 | 554,584 | ||||||
Alliance Bank Malaysia Bhd | 656,800 | 725,061 | ||||||
AMMB Holdings Bhd | 211,300 | 211,956 | ||||||
Astro Malaysia Holdings Bhd | 100,600 | 53,057 | ||||||
British American Tobacco Malaysia Bhd | 38,500 | 261,776 | ||||||
CIMB Group Holdings Bhd | 414,114 | 766,561 | ||||||
Dialog Group Bhd | 900,000 | 688,728 | ||||||
Felda Global Ventures Holdings Bhd | 668,900 | 287,067 | ||||||
Gamuda Bhd | 56,766 | 75,580 | ||||||
Genting Bhd | 187,100 | 420,830 | ||||||
Genting Malaysia Bhd | 470,300 | 589,699 | ||||||
Genting Plantations Bhd | 208,700 | 550,346 | ||||||
Hong Leong Financial Group Bhd | 35,439 | 175,729 | ||||||
IOI Properties Group Bhd | 615,400 | 256,151 | ||||||
Malaysia Airports Holdings Bhd | 155,500 | 355,785 | ||||||
Petronas Chemicals Group Bhd | 18,000 | 37,927 | ||||||
PPB Group Bhd | 112,700 | 557,673 | ||||||
RHB Capital Bhd | 114,410 | 152,921 | ||||||
Sapura Energy Bhd | 141,400 | 18,461 | ||||||
Tenaga Nasional Bhd | 140,600 | 587,408 | ||||||
UMW Holdings Bhd (a) | 38,400 | 59,764 | ||||||
Westports Holdings Bhd | 157,300 | 143,555 | ||||||
|
| |||||||
7,530,619 | ||||||||
|
| |||||||
MEXICO — 0.8% | ||||||||
America Movil SAB de CV Series L | 2,892,812 | 2,733,778 | ||||||
Cemex SAB de CV Series CPO (a) | 1,708,912 | 1,126,261 | ||||||
Fomento Economico Mexicano SAB de CV | 272,136 | 2,472,161 | ||||||
Fresnillo PLC | 22,026 | 391,942 | ||||||
Gentera SAB de CV (b) | 261,072 | 189,652 | ||||||
Grupo Financiero Banorte SAB de CV Series O | 382,672 | 2,329,764 | ||||||
Grupo Mexico SAB de CV Series B | 236,137 | 783,307 | ||||||
Grupo Televisa SAB Series CPO (b) | 329,065 | 1,042,530 | ||||||
Industrias Penoles SAB de CV | 17,002 | 342,080 | ||||||
Kimberly-Clark de Mexico SAB de CV Class A | 236,926 | 441,831 | ||||||
Wal-Mart de Mexico SAB de CV | 303,942 | 770,283 | ||||||
|
| |||||||
12,623,589 | ||||||||
|
| |||||||
NETHERLANDS — 3.2% | ||||||||
Akzo Nobel NV | 23,586 | 2,226,017 |
Security Description | Shares | Value | ||||||
Altice NV Class A (a) | 25,497 | $ | 210,032 | |||||
ASML Holding NV | 31,568 | 6,217,651 | ||||||
Gemalto NV | 1,704 | 104,050 | ||||||
Heineken NV | 25,630 | 2,751,789 | ||||||
ING Groep NV | 247,925 | 4,177,276 | ||||||
Koninklijke Ahold Delhaize NV | 138,391 | 3,274,993 | ||||||
Koninklijke DSM NV | 22,843 | 2,265,458 | ||||||
Koninklijke KPN NV | 483,110 | 1,447,951 | ||||||
Koninklijke Philips NV | 102,282 | 3,920,294 | ||||||
NXP Semiconductors NV (a) | 12,936 | 1,513,512 | ||||||
Royal Dutch Shell PLC Class A | 347,301 | 10,881,474 | ||||||
Royal Dutch Shell PLC Class B | 278,858 | 8,907,214 | ||||||
Wolters Kluwer NV | 37,178 | 1,974,793 | ||||||
|
| |||||||
49,872,504 | ||||||||
|
| |||||||
NEW ZEALAND — 0.1% | ||||||||
Mercury NZ, Ltd. | 241,570 | 561,145 | ||||||
Meridian Energy, Ltd. | 234,371 | 482,709 | ||||||
Spark New Zealand, Ltd. | 171,309 | 412,765 | ||||||
|
| |||||||
1,456,619 | ||||||||
|
| |||||||
NORWAY — 0.5% | ||||||||
DNB ASA | 108,701 | 2,106,606 | ||||||
Norsk Hydro ASA | 177,852 | 1,040,931 | ||||||
Statoil ASA | 92,065 | 2,165,318 | ||||||
Telenor ASA | 78,267 | 1,764,533 | ||||||
Yara International ASA | 20,031 | 844,772 | ||||||
|
| |||||||
7,922,160 | ||||||||
|
| |||||||
PERU — 0.1% | ||||||||
Cia de Minas Buenaventura SAA ADR | 19,711 | 300,198 | ||||||
Credicorp, Ltd. | 7,568 | 1,718,239 | ||||||
|
| |||||||
2,018,437 | ||||||||
|
| |||||||
PHILIPPINES — 0.3% | ||||||||
Alliance Global Group, Inc. (a) | 622,500 | 157,482 | ||||||
Ayala Land, Inc. | 545,400 | 429,609 | ||||||
BDO Unibank, Inc. | 41,307 | 110,041 | ||||||
DMCI Holdings, Inc. | 1,474,050 | 343,528 | ||||||
Globe Telecom, Inc. | 2,920 | 90,772 | ||||||
GT Capital Holdings, Inc. | 8,260 | 185,059 | ||||||
JG Summit Holdings, Inc. | 260,090 | 312,542 | ||||||
Jollibee Foods Corp. | 111,780 | 640,549 | ||||||
Megaworld Corp. | 1,779,300 | 159,933 | ||||||
Metro Pacific Investments Corp. | 3,882,800 | 389,936 | ||||||
PLDT, Inc. ADR | 16,447 | 466,601 | ||||||
SM Prime Holdings, Inc. | 577,900 | 373,250 | ||||||
Universal Robina Corp. | 65,810 | 191,713 | ||||||
|
| |||||||
3,851,015 | ||||||||
|
| |||||||
POLAND — 0.2% | ||||||||
Alior Bank SA (a) | 38,229 | 820,875 | ||||||
Bank Millennium SA (a) | 133,696 | 320,452 | ||||||
Bank Zachodni WBK SA | 3,808 | 402,668 | ||||||
CCC SA | 7,974 | 542,883 | ||||||
Grupa Azoty SA | 12,416 | 202,988 | ||||||
LPP SA | 48 | 121,916 | ||||||
Orange Polska SA (a) | 96,653 | 163,661 |
8
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Polski Koncern Naftowy ORLEN SA | 18,630 | $ | 457,524 | |||||
Powszechna Kasa Oszczednosci Bank Polski SA (a) | 50,471 | 595,874 | ||||||
|
| |||||||
3,628,841 | ||||||||
|
| |||||||
PORTUGAL — 0.1% | ||||||||
EDP - Energias de Portugal SA | 170,505 | 647,540 | ||||||
Jeronimo Martins SGPS SA | 21,604 | 393,364 | ||||||
|
| |||||||
1,040,904 | ||||||||
|
| |||||||
QATAR — 0.0% (f) | ||||||||
Commercial Bank PQSC | 12,627 | 104,011 | ||||||
Ezdan Holding Group QSC | 13,561 | 39,097 | ||||||
Qatar Electricity & Water Co. QSC | 5,974 | 308,378 | ||||||
Qatar Gas Transport Co., Ltd. | 19,728 | 82,769 | ||||||
|
| |||||||
534,255 | ||||||||
|
| |||||||
ROMANIA — 0.0% (f) | ||||||||
NEPI Rockcastle PLC | 7,505 | 72,841 | ||||||
|
| |||||||
RUSSIA — 0.9% | ||||||||
Gazprom PJSC ADR | 472,498 | 2,299,175 | ||||||
LUKOIL PJSC ADR | 53,415 | 3,697,386 | ||||||
Magnit PJSC GDR | 8,336 | 153,674 | ||||||
MMC Norilsk Nickel PJSC ADR (b) | 39,882 | 745,793 | ||||||
Mobile TeleSystems PJSC ADR | 94,354 | 1,074,692 | ||||||
RusHydro PJSC ADR (e) | 58,736 | 71,658 | ||||||
RusHydro PJSC ADR (e) | 122,584 | 154,211 | ||||||
Sberbank of Russia PJSC ADR | 124,382 | 2,317,237 | ||||||
Surgutneftegas OJSC ADR | 131,551 | 660,386 | ||||||
Tatneft PJSC ADR (b) | 39,473 | 2,491,536 | ||||||
|
| |||||||
13,665,748 | ||||||||
|
| |||||||
SINGAPORE — 1.0% | ||||||||
CapitaLand, Ltd. | 401,000 | 1,091,718 | ||||||
DBS Group Holdings, Ltd. | 217,558 | 4,562,530 | ||||||
Singapore Exchange, Ltd. | 401,000 | 2,253,771 | ||||||
Singapore Press Holdings, Ltd. (b) | 602,300 | 1,157,474 | ||||||
Singapore Telecommunications, Ltd. | 979,500 | 2,517,284 | ||||||
United Overseas Bank, Ltd. | 204,929 | 4,297,680 | ||||||
|
| |||||||
15,880,457 | ||||||||
|
| |||||||
SOUTH AFRICA — 1.7% | ||||||||
Anglo American Platinum, Ltd. | 7,474 | 204,374 | ||||||
AngloGold Ashanti, Ltd. | 42,028 | 399,113 | ||||||
Aspen Pharmacare Holdings, Ltd. | 25,150 | 550,726 | ||||||
Bid Corp., Ltd. | 23,398 | 508,985 | ||||||
Bidvest Group, Ltd. | 23,451 | 443,538 | ||||||
Brait SE (a) | 33,236 | 101,261 | ||||||
Capitec Bank Holdings, Ltd. | 5,191 | 381,257 | ||||||
Coronation Fund Managers, Ltd. | 46,760 | 318,633 | ||||||
Discovery, Ltd. (b) | 76,863 | 1,106,036 | ||||||
FirstRand, Ltd. (b) | 325,989 | 1,840,588 | ||||||
Foschini Group, Ltd. | 31,201 | 589,195 | ||||||
Gold Fields, Ltd. | 49,079 | 198,739 |
Security Description | Shares | Value | ||||||
Imperial Holdings, Ltd. (b) | 21,794 | $ | 429,028 | |||||
Mr. Price Group, Ltd. | 29,851 | 718,011 | ||||||
MTN Group, Ltd. (b) | 126,805 | 1,273,749 | ||||||
Naspers, Ltd. Class N | 34,446 | 8,406,990 | ||||||
Pioneer Foods Group, Ltd. (b) | 30,631 | 321,078 | ||||||
PSG Group, Ltd. | 16,414 | 311,788 | ||||||
Rand Merchant Investment Holdings, Ltd. | 35,868 | 121,086 | ||||||
Remgro, Ltd. | 39,100 | 732,584 | ||||||
Resilient REIT, Ltd. | 49,940 | 210,740 | ||||||
Sanlam, Ltd. | 240,709 | 1,732,881 | ||||||
Sasol, Ltd. | 43,989 | 1,497,009 | ||||||
Sibanye Gold, Ltd. | 144,218 | 143,259 | ||||||
Standard Bank Group, Ltd. | 132,031 | 2,436,758 | ||||||
Steinhoff International Holdings NV (b) | 213,898 | 59,573 | ||||||
Truworths International, Ltd. (b) | 58,385 | 529,857 | ||||||
Woolworths Holdings, Ltd. | 47,572 | 240,896 | ||||||
|
| |||||||
25,807,732 | ||||||||
|
| |||||||
SOUTH KOREA — 3.9% | ||||||||
Amorepacific Corp. | 409 | 117,800 | ||||||
Amorepacific Corp. Preference Shares | 2,137 | 320,781 | ||||||
AMOREPACIFIC Group | 532 | 68,378 | ||||||
BGF retail Co., Ltd. | 781 | 111,739 | ||||||
Celltrion, Inc. (a) (b) | 8,945 | 2,660,254 | ||||||
CJ CheilJedang Corp. | 2,406 | 722,319 | ||||||
CJ Corp. | 790 | 116,732 | ||||||
Coway Co., Ltd. | 3,206 | 264,084 | ||||||
E-MART, Inc. | 2,796 | 709,558 | ||||||
Hana Financial Group, Inc. | 45,711 | 1,955,551 | ||||||
Hanmi Pharm Co., Ltd. | 374 | 181,403 | ||||||
Hanmi Science Co., Ltd. (b) | 1,855 | 164,286 | ||||||
Hanssem Co., Ltd. | 1,190 | 167,464 | ||||||
Hotel Shilla Co., Ltd. | 910 | 78,544 | ||||||
Hyundai Department Store Co., Ltd. | 4,697 | 398,798 | ||||||
Hyundai Development Co-Engineering & Construction | 11,817 | 420,175 | ||||||
Hyundai Heavy Industries Co., Ltd. (a) | 4,794 | 618,421 | ||||||
Hyundai Mobis Co., Ltd. | 6,544 | 1,559,411 | ||||||
Hyundai Motor Co. | 14,440 | 1,944,028 | ||||||
Hyundai Robotics Co., Ltd. (a) | 844 | 337,315 | ||||||
Hyundai Steel Co. | 6,665 | 322,651 | ||||||
KB Financial Group, Inc. | 47,535 | 2,747,121 | ||||||
Kia Motors Corp. | 28,690 | 857,282 | ||||||
Korea Aerospace Industries, Ltd. (a) | 4,544 | 212,940 | ||||||
Korea Electric Power Corp. ADR (a) (b) | 48,615 | 748,185 | ||||||
Korea Zinc Co., Ltd. | 2,486 | 1,124,169 | ||||||
KT Corp. ADR (a) | 39,684 | 543,671 | ||||||
KT&G Corp. | 13,869 | 1,301,154 | ||||||
LG Chem, Ltd. | 810 | 293,330 | ||||||
LG Chem, Ltd. Preference Shares | 569 | 115,038 |
9
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
LG Electronics, Inc. | 15,580 | $ | 1,593,226 | |||||
LG Household & Health Care, Ltd. | 1,366 | 1,527,603 | ||||||
Lotte Chemical Corp. | 2,760 | 1,121,193 | ||||||
NAVER Corp. | 2,876 | 2,120,777 | ||||||
NCSoft Corp. | 2,407 | 925,856 | ||||||
POSCO ADR (a) | 29,023 | 2,288,463 | ||||||
Samsung C&T Corp. | 4,552 | 585,068 | ||||||
Samsung Electronics Co., Ltd. GDR | 15,036 | 17,231,256 | ||||||
Samsung Electronics Co., Ltd. Preference Shares | 545 | 1,035,393 | ||||||
Samsung Fire & Marine Insurance Co., Ltd. | 4,855 | 1,220,696 | ||||||
Samsung Heavy Industries Co., Ltd. (a) | 21,676 | 160,247 | ||||||
Samsung SDS Co., Ltd. | 1,445 | 342,305 | ||||||
Samsung Securities Co., Ltd. | 27,030 | 996,603 | ||||||
Shinhan Financial Group Co., Ltd. | 42,203 | 1,787,659 | ||||||
SK Holdings Co., Ltd. | 4,399 | 1,231,918 | ||||||
SK Hynix, Inc. | 35,354 | 2,663,408 | ||||||
SK Innovation Co., Ltd. | 6,282 | 1,237,658 | ||||||
SK Telecom Co., Ltd. ADR | 19,673 | 475,496 | ||||||
|
| |||||||
59,727,407 | ||||||||
|
| |||||||
SPAIN — 2.1% | ||||||||
Abertis Infraestructuras SA | 93,565 | 2,096,593 | ||||||
ACS Actividades de Construccion y Servicios SA | 46,085 | 1,793,848 | ||||||
Aena SME SA (c) | 1,006 | 202,473 | ||||||
Amadeus IT Group SA | 24,646 | 1,818,048 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 462,215 | 3,654,599 | ||||||
Banco de Sabadell SA | 240,691 | 491,679 | ||||||
Banco Santander SA | 1,147,808 | 7,474,592 | ||||||
CaixaBank SA | 33,878 | 161,326 | ||||||
Ferrovial SA | 79,003 | 1,648,351 | ||||||
Gas Natural SDG SA | 33,672 | 802,970 | ||||||
Iberdrola SA | 515,594 | 3,786,866 | ||||||
Industria de Diseno Textil SA | 96,119 | 3,006,131 | ||||||
Mapfre SA | 230,310 | 765,050 | ||||||
Repsol SA | 104,786 | 1,857,677 | ||||||
Telefonica SA | 360,702 | 3,561,297 | ||||||
|
| |||||||
33,121,500 | ||||||||
|
| |||||||
SWEDEN — 1.8% | ||||||||
Assa Abloy AB Class B | 125,975 | 2,712,852 | ||||||
Atlas Copco AB Class B | 87,395 | 3,386,311 | ||||||
Essity AB Class B (a) | 5,550 | 152,819 | ||||||
Hennes & Mauritz AB Class B (b) | 86,293 | 1,289,841 | ||||||
Husqvarna AB Class B | 201,590 | 1,937,236 | ||||||
Nordea Bank AB | 217,869 | 2,317,921 | ||||||
Sandvik AB | 108,792 | 1,980,386 | ||||||
Securitas AB Class B | 65,600 | 1,110,331 | ||||||
Skandinaviska Enskilda Banken AB Class A | 117,412 | 1,225,881 | ||||||
Skanska AB Class B | 65,407 | 1,332,773 |
Security Description | Shares | Value | ||||||
SKF AB Class B (b) | 53,565 | $ | 1,090,514 | |||||
Svenska Handelsbanken AB Class A (b) | 144,198 | 1,794,124 | ||||||
Swedbank AB Class A (b) | 71,519 | 1,596,940 | ||||||
Tele2 AB Class B | 90,062 | 1,077,006 | ||||||
Telefonaktiebolaget LM Ericsson Class B (b) | 275,114 | 1,738,433 | ||||||
Telia Co. AB | 158,710 | 743,065 | ||||||
Volvo AB Class B | 112,906 | 2,052,579 | ||||||
|
| |||||||
27,539,012 | ||||||||
|
| |||||||
SWITZERLAND — 5.8% | ||||||||
ABB, Ltd. | 191,708 | 4,548,461 | ||||||
Adecco Group AG | 16,250 | 1,153,926 | ||||||
Cie Financiere Richemont SA | 41,103 | 3,681,071 | ||||||
Coca-Cola HBC AG (a) | 12,984 | 479,756 | ||||||
Credit Suisse Group AG (a) | 155,357 | 2,594,150 | ||||||
Ferguson PLC | 20,051 | 1,505,949 | ||||||
Geberit AG | 4,417 | 1,948,351 | ||||||
Givaudan SA | 1,172 | 2,663,191 | ||||||
Glencore PLC (a) | 835,931 | 4,148,814 | ||||||
Julius Baer Group, Ltd. (a) | 12,578 | 771,545 | ||||||
Kuehne + Nagel International AG | 9,425 | 1,479,300 | ||||||
LafargeHolcim, Ltd. (a) | 26,738 | 1,460,315 | ||||||
Lonza Group AG (a) | 4,397 | 1,034,048 | ||||||
Nestle SA | 236,318 | 18,661,620 | ||||||
Novartis AG | 178,453 | 14,397,743 | ||||||
Roche Holding AG | 52,068 | 11,913,219 | ||||||
SGS SA | 803 | 1,968,926 | ||||||
Sika AG | 154 | 1,203,728 | ||||||
Sonova Holding AG | 2,383 | 377,756 | ||||||
STMicroelectronics NV (b) | 26,349 | 582,810 | ||||||
Swatch Group AG | 4,595 | 2,022,069 | ||||||
Swiss Re AG | 27,442 | 2,787,759 | ||||||
UBS Group AG (a) | 275,054 | 4,824,073 | ||||||
Zurich Insurance Group AG (a) | 12,795 | 4,187,503 | ||||||
|
| |||||||
90,396,083 | ||||||||
|
| |||||||
TAIWAN — 2.7% | ||||||||
Advanced Semiconductor Engineering, Inc. ADR | 222,852 | 1,617,905 | ||||||
Advantech Co., Ltd. | 28,599 | 205,000 | ||||||
Asia Pacific Telecom Co., Ltd. (a) | 48,000 | 15,014 | ||||||
Asustek Computer, Inc. | 11,000 | 102,428 | ||||||
AU Optronics Corp. ADR (b) | 268,400 | 1,226,588 | ||||||
Catcher Technology Co., Ltd. | 32,000 | 396,749 | ||||||
Cathay Financial Holding Co., Ltd. | 229,000 | 406,839 | ||||||
Chicony Electronics Co., Ltd. | 162,581 | 413,186 | ||||||
China Airlines, Ltd. (a) | 786,000 | 287,097 | ||||||
China Development Financial Holding Corp. | 448,000 | 158,260 | ||||||
China Life Insurance Co., Ltd. | 193,296 | 200,542 | ||||||
Chunghwa Telecom Co., Ltd. ADR | 71,895 | 2,793,840 | ||||||
Compal Electronics, Inc. | 237,000 | 161,349 |
10
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
CTBC Financial Holding Co., Ltd. | 573,558 | $ | 411,132 | |||||
Delta Electronics, Inc. | 59,785 | 266,559 | ||||||
E.Sun Financial Holding Co., Ltd. | 799,741 | 537,604 | ||||||
Eclat Textile Co., Ltd. | 15,650 | 182,495 | ||||||
Eva Airways Corp. | 508,897 | 260,933 | ||||||
Feng TAY Enterprise Co., Ltd. | 34,036 | 154,672 | ||||||
Formosa Plastics Corp. | 336,000 | 1,186,953 | ||||||
Foxconn Technology Co., Ltd. | 24,240 | 64,929 | ||||||
Fubon Financial Holding Co., Ltd. | 360,000 | 618,582 | ||||||
Giant Manufacturing Co., Ltd. | 17,000 | 89,207 | ||||||
Globalwafers Co., Ltd. | 6,000 | 95,380 | ||||||
Highwealth Construction Corp. | 164,400 | 253,166 | ||||||
Hiwin Technologies Corp. | 6,429 | 91,506 | ||||||
Hon Hai Precision Industry Co., Ltd. GDR | 878,934 | 5,466,969 | ||||||
Hotai Motor Co., Ltd. | 7,000 | 69,743 | ||||||
HTC Corp. (a) | 51,000 | 115,969 | ||||||
Innolux Corp. | 230,000 | 100,576 | ||||||
Largan Precision Co., Ltd. | 5,000 | 568,474 | ||||||
MediaTek, Inc. | 61,000 | 692,492 | ||||||
Mega Financial Holding Co., Ltd. | 25,948 | 22,293 | ||||||
Pegatron Corp. | 48,000 | 119,518 | ||||||
Phison Electronics Corp. | 18,000 | 187,365 | ||||||
Pou Chen Corp. | 145,000 | 192,458 | ||||||
Powertech Technology, Inc. | 162,000 | 505,052 | ||||||
President Chain Store Corp. | 35,000 | 351,717 | ||||||
Ruentex Development Co., Ltd. (a) | 42,189 | 49,631 | ||||||
Siliconware Precision Industries Co., Ltd. ADR (b) | 106,856 | 924,304 | ||||||
Standard Foods Corp. | 230,822 | 540,698 | ||||||
Taishin Financial Holding Co., Ltd. | 808,500 | 396,527 | ||||||
Taiwan Business Bank | 1,982,173 | 591,450 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 364,799 | 15,963,604 | ||||||
Teco Electric and Machinery Co., Ltd. | 394,000 | 324,989 | ||||||
Transcend Information, Inc. | 3,000 | 8,849 | ||||||
Uni-President Enterprises Corp. | 370,000 | 866,722 | ||||||
United Microelectronics Corp. ADR (b) | 822,854 | 2,131,192 | ||||||
Zhen Ding Technology Holding, Ltd. | 21,000 | 50,273 | ||||||
|
| |||||||
42,438,780 | ||||||||
|
| |||||||
THAILAND — 0.6% | ||||||||
Bangkok Bank PCL (g) | 201,276 | 1,377,456 | ||||||
Bumrungrad Hospital PCL (g) | 79,100 | 523,623 | ||||||
Central Pattana PCL (g) | 240,200 | 602,996 | ||||||
CP ALL PCL NVDR | 362,200 | 1,010,616 | ||||||
Delta Electronics Thailand PCL (g) | 75,400 | 159,746 | ||||||
Indorama Ventures PCL (g) | 43,600 | 79,127 | ||||||
IRPC PCL (g) | 5,114,000 | 1,185,689 |
Security Description | Shares | Value | ||||||
Kasikornbank PCL (g) | 63,300 | $ | 431,177 | |||||
Minor International PCL (g) | 217,100 | 263,825 | ||||||
PTT PCL (g) | 115,862 | 2,030,457 | ||||||
Siam Commercial Bank PCL NVDR | 116,800 | 536,003 | ||||||
Thai Union Group PCL Class F (g) | 241,000 | 144,122 | ||||||
TMB Bank PCL (g) | 1,224,400 | 98,672 | ||||||
|
| |||||||
8,443,509 | ||||||||
|
| |||||||
TURKEY — 0.3% | ||||||||
Akbank Turk A/S | 505,243 | 1,219,297 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S REIT (a) | 921,979 | 588,834 | ||||||
Turkiye Garanti Bankasi A/S | 387,167 | 1,065,310 | ||||||
Turkiye Is Bankasi A/S Class C | 538,064 | 968,445 | ||||||
|
| |||||||
3,841,886 | ||||||||
|
| |||||||
UNITED ARAB EMIRATES — 0.1% |
| |||||||
Abu Dhabi Commercial Bank PJSC | 69,909 | 125,619 | ||||||
DP World, Ltd. | 9,646 | 217,035 | ||||||
DXB Entertainments PJSC (a) | 383,611 | 50,758 | ||||||
Emaar Malls PJSC | 71,379 | 41,782 | ||||||
Emaar Properties PJSC | 138,440 | 218,609 | ||||||
Emirates Telecommunications Group Co. PJSC | 13,991 | 67,232 | ||||||
First Abu Dhabi Bank PJSC | 28,214 | 89,873 | ||||||
|
| |||||||
810,908 | ||||||||
|
| |||||||
UNITED KINGDOM — 10.8% | ||||||||
3i Group PLC | 168,890 | 2,035,133 | ||||||
Anglo American PLC | 105,076 | 2,448,324 | ||||||
Associated British Foods PLC | 1,854 | 64,786 | ||||||
AstraZeneca PLC | 89,976 | 6,179,018 | ||||||
Aviva PLC | 292,922 | 2,037,708 | ||||||
BAE Systems PLC | 251,013 | 2,047,232 | ||||||
Barclays PLC | 1,206,765 | 3,495,735 | ||||||
Barratt Developments PLC | 45,176 | 336,130 | ||||||
Berkeley Group Holdings PLC | 3,974 | 211,226 | ||||||
BP PLC | 1,463,468 | 9,838,777 | ||||||
British American Tobacco PLC | 165,699 | 9,602,202 | ||||||
British Land Co. PLC REIT | 218,519 | 1,967,977 | ||||||
BT Group PLC | 570,070 | 1,819,304 | ||||||
Burberry Group PLC | 53,593 | 1,275,057 | ||||||
Capita PLC | 50,467 | 101,980 | ||||||
Centrica PLC | 643,053 | 1,282,750 | ||||||
CNH Industrial NV | 67,635 | 834,305 | ||||||
Cobham PLC (a) | 164,307 | 283,272 | ||||||
Compass Group PLC | 191,310 | 3,906,120 | ||||||
Diageo PLC | 178,770 | 6,048,779 | ||||||
Experian PLC | 76,875 | 1,658,044 | ||||||
Fiat Chrysler Automobiles NV | 105,287 | 2,136,799 | ||||||
G4S PLC | 118,700 | 413,117 | ||||||
GlaxoSmithKline PLC | 346,713 | 6,779,984 | ||||||
Hammerson PLC REIT | 195,066 | 1,468,345 | ||||||
HSBC Holdings PLC | 1,490,816 | 13,915,621 |
11
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Imperial Brands PLC | 92,158 | $ | 3,136,314 | |||||
InterContinental Hotels Group PLC | 13,590 | 813,654 | ||||||
ITV PLC | 53,863 | 108,918 | ||||||
J Sainsbury PLC | 202,065 | 676,895 | ||||||
Land Securities Group PLC REIT | 101,782 | 1,337,989 | ||||||
Legal & General Group PLC | 91,636 | 331,394 | ||||||
Lloyds Banking Group PLC | 4,089,935 | 3,709,777 | ||||||
Marks & Spencer Group PLC | 169,382 | 642,020 | ||||||
National Grid PLC | 372,532 | 4,192,200 | ||||||
Next PLC | 17,159 | 1,145,522 | ||||||
Old Mutual PLC | 573,320 | 1,924,578 | ||||||
Pearson PLC | 91,059 | 956,754 | ||||||
Persimmon PLC | 14,772 | 524,271 | ||||||
Prudential PLC | 138,774 | 3,462,244 | ||||||
Randgold Resources, Ltd. | 5,643 | 465,619 | ||||||
Reckitt Benckiser Group PLC | 47,262 | 4,000,490 | ||||||
RELX NV | 123,260 | 2,551,283 | ||||||
RELX PLC | 132,577 | 2,724,593 | ||||||
Rio Tinto PLC | 90,420 | 4,580,235 | ||||||
Rio Tinto, Ltd. | 31,663 | 1,765,672 | ||||||
Rolls-Royce Holdings PLC (a) | 148,472 | 1,815,338 | ||||||
Royal Bank of Scotland Group PLC (a) | 222,732 | 808,617 | ||||||
RSA Insurance Group PLC | 94,182 | 832,347 | ||||||
Sage Group PLC | 183,083 | 1,641,650 | ||||||
Segro PLC REIT | 91,207 | 769,206 | ||||||
Severn Trent PLC | 59,889 | 1,549,187 | ||||||
Shire PLC | 51,364 | 2,572,667 | ||||||
Sky PLC | 118,285 | 2,152,944 | ||||||
Smith & Nephew PLC | 126,239 | 2,357,042 | ||||||
Smiths Group PLC | 30,244 | 642,122 | ||||||
SSE PLC | 128,617 | 2,302,209 | ||||||
Standard Chartered PLC | 206,689 | 2,066,426 | ||||||
Standard Life Aberdeen PLC | 262,687 | 1,325,485 | ||||||
Taylor Wimpey PLC | 179,009 | 463,556 | ||||||
Tesco PLC | 738,267 | 2,132,385 | ||||||
Unilever NV | 127,844 | 7,212,094 | ||||||
Unilever PLC | 104,329 | 5,788,982 | ||||||
United Utilities Group PLC | 88,738 | 890,542 | ||||||
Vodafone Group PLC | 2,142,081 | 5,836,139 | ||||||
Whitbread PLC | 12,981 | 673,761 | ||||||
WPP PLC | 130,764 | 2,077,410 | ||||||
|
| |||||||
167,148,256 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 1,532,214,500 | |||||||
|
| |||||||
RIGHTS — 0.0% (f) | ||||||||
SOUTH KOREA — 0.0% (f) | ||||||||
Samsung Heavy Industries Co., Ltd. (expires 4/13/18) (a) (Cost $0) | 11,428 | 22,247 | ||||||
|
|
Security Description | Shares | Value | ||||||
SHORT-TERM INVESTMENTS — 2.3% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (h) (i) | 2,338,108 | $ | 2,338,108 | |||||
State Street Navigator Securities Lending Government Money Market Portfolio (h) (j) | 32,639,102 | 32,639,102 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| 34,977,210 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 101.3% |
| 1,567,213,957 | ||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.3)% |
| (19,654,945 | ) | |||||
|
| |||||||
NET ASSETS — 100.0% |
| $ | 1,547,559,012 | |||||
|
|
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.3% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(d) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $0, representing 0.0% of the Fund’s net assets. |
(e) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(f) | Amount is less than 0.05% of net assets. |
(g) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $6,896,890 representing 0.4% of net assets. |
(h) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(i) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(j) | Investment of cash collateral for securities loaned. |
ADR | = American Depositary Receipt | |
GDR | = Global Depositary Receipt | |
NVDR | = Non Voting Depositary Receipt | |
REIT | = Real Estate Investment Trust |
12
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
ASSETS: | ||||||||||||||||
INVESTMENTS: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Australia | $ | 70,907,689 | $ | — | $ | — | $ | 70,907,689 | ||||||||
Austria | 4,820,045 | — | — | 4,820,045 | ||||||||||||
Belgium | 14,239,538 | — | — | 14,239,538 | ||||||||||||
Brazil | 29,550,197 | — | — | 29,550,197 | ||||||||||||
Canada | 94,858,757 | — | — | 94,858,757 | ||||||||||||
Chile | 5,073,113 | — | — | 5,073,113 | ||||||||||||
China | 114,985,050 | — | 0 | (a) | 114,985,050 | |||||||||||
Colombia | 1,467,836 | — | — | 1,467,836 | ||||||||||||
Denmark | 18,880,507 | — | — | 18,880,507 | ||||||||||||
Egypt | 1,025,331 | — | — | 1,025,331 | ||||||||||||
Finland | 11,648,801 | — | — | 11,648,801 | ||||||||||||
France | 109,227,176 | — | — | 109,227,176 | ||||||||||||
Germany | 99,558,808 | — | — | 99,558,808 | ||||||||||||
Greece | 1,543,075 | — | — | 1,543,075 | ||||||||||||
Hong Kong | 43,369,880 | — | 0 | (a) | 43,369,880 | |||||||||||
Hungary | 2,197,237 | — | — | 2,197,237 | ||||||||||||
India | 29,614,364 | — | — | 29,614,364 | ||||||||||||
Indonesia | 8,154,204 | — | — | 8,154,204 | ||||||||||||
Ireland | 6,917,219 | — | — | 6,917,219 | ||||||||||||
Israel | 5,342,873 | — | — | 5,342,873 | ||||||||||||
Italy | 21,840,437 | — | — | 21,840,437 | ||||||||||||
Japan | 255,626,676 | — | — | 255,626,676 | ||||||||||||
Luxembourg | 1,595,273 | — | — | 1,595,273 | ||||||||||||
Macau | 397,352 | — | — | 397,352 | ||||||||||||
Malaysia | 7,530,619 | — | — | 7,530,619 | ||||||||||||
Mexico | 12,623,589 | — | — | 12,623,589 | ||||||||||||
Netherlands | 49,872,504 | — | — | 49,872,504 | ||||||||||||
New Zealand | 1,456,619 | — | — | 1,456,619 | ||||||||||||
Norway | 7,922,160 | — | — | 7,922,160 | ||||||||||||
Peru | 2,018,437 | — | — | 2,018,437 | ||||||||||||
Philippines | 3,851,015 | — | — | 3,851,015 | ||||||||||||
Poland | 3,628,841 | — | — | 3,628,841 | ||||||||||||
Portugal | 1,040,904 | — | — | 1,040,904 | ||||||||||||
Qatar | 534,255 | — | — | 534,255 | ||||||||||||
Romania | 72,841 | — | — | 72,841 | ||||||||||||
Russia | 13,665,748 | — | — | 13,665,748 | ||||||||||||
Singapore | 15,880,457 | — | — | 15,880,457 | ||||||||||||
South Africa | 25,807,732 | — | — | 25,807,732 | ||||||||||||
South Korea | 59,727,407 | — | — | 59,727,407 | ||||||||||||
Spain | 33,121,500 | — | — | 33,121,500 | ||||||||||||
Sweden | 27,539,012 | — | — | 27,539,012 | ||||||||||||
Switzerland | 90,396,083 | — | — | 90,396,083 | ||||||||||||
Taiwan | 42,438,780 | — | — | 42,438,780 | ||||||||||||
Thailand | 1,546,619 | 6,896,890 | — | 8,443,509 | ||||||||||||
Turkey | 3,841,886 | — | — | 3,841,886 | ||||||||||||
United Arab Emirates | 810,908 | — | — | 810,908 |
13
Table of Contents
SPDR MSCI ACWI EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
United Kingdom | $ | 167,148,256 | $ | — | $ | — | $ | 167,148,256 | ||||||||
Rights | ||||||||||||||||
South Korea | 22,247 | — | — | 22,247 | ||||||||||||
Short-Term Investments | 34,977,210 | — | — | 34,977,210 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL INVESTMENTS | $ | 1,560,317,067 | $ | 6,896,890 | $ | 0 | $ | 1,567,213,957 | ||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 1,559,265 | $ | 1,559,265 | $ | 27,790,407 | $ | 27,011,564 | $ | — | $ | — | 2,338,108 | $ | 2,338,108 | $ | 13,344 | $ | — | ||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 19,433,641 | 19,433,641 | 197,035,868 | 183,830,407 | — | — | 32,639,102 | 32,639,102 | 149,706 | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Total | $ | 20,992,906 | $ | 224,826,275 | $ | 210,841,971 | $ | — | $ | — | $ | 34,977,210 | $ | 163,050 | $ | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.7% | ||||||||
BRAZIL — 4.5% | ||||||||
AES Tiete Energia SA | 48,858 | $ | 178,462 | |||||
Aliansce Shopping Centers SA (a) | 99,189 | 560,467 | ||||||
Alupar Investimento SA | 48,367 | 260,055 | ||||||
Anima Holding SA | 81,960 | 624,145 | ||||||
Arezzo Industria e Comercio SA | 48,155 | 732,409 | ||||||
Banco ABC Brasil SA Preference Shares | 86,860 | 474,338 | ||||||
BR Properties SA | 95,955 | 260,992 | ||||||
Cia de Saneamento de Minas Gerais-COPASA | 54,148 | 783,318 | ||||||
Cia de Saneamento do Parana Preference Shares | 185,493 | 604,432 | ||||||
CiaEnergetica de Sao Paulo Class B, Preference Shares | 107,339 | 510,277 | ||||||
CiaFerro Ligas da Bahia - FERBASA Preference Shares | 110,836 | 707,315 | ||||||
Cia Hering | 133,146 | 826,854 | ||||||
Construtora Tenda SA (a) | 25,768 | 204,293 | ||||||
Cosan Logistica SA (a) | 81,462 | 246,327 | ||||||
Cosan, Ltd. | 99,929 | 1,038,196 | ||||||
CVC Brasil Operadora e Agencia de Viagens SA | 108,309 | 1,976,454 | ||||||
Cyrela Brazil Realty SA Empreendimentos e Participacoes | 167,210 | 769,238 | ||||||
Direcional Engenharia SA (a) | 178,730 | 326,958 | ||||||
Duratex SA | 157,370 | 561,089 | ||||||
EcoRodovias Infraestrutura e Logistica SA | 144,242 | 379,744 | ||||||
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA | 102,088 | 548,589 | ||||||
Even Construtora e Incorporadora SA (a) | 258,027 | 406,030 | ||||||
Ez Tec Empreendimentos e Participacoes SA | 91,688 | 636,707 | ||||||
Gafisa SA (a) | 67,917 | 208,435 | ||||||
Helbor Empreendimentos SA (a) | 307,651 | 138,848 | ||||||
International Meal Co. Alimentacao SA Class A (a) | 99,823 | 255,294 | ||||||
Iochpe Maxion SA | 110,903 | 873,249 | ||||||
JSL SA (a) | 47,738 | 91,351 | ||||||
Kepler Weber SA (a) | 18,547 | 67,634 | ||||||
Light SA (a) | 75,142 | 306,347 | ||||||
Linx SA | 69,748 | 424,750 | ||||||
LPS Brasil Consultoria de Imoveis SA (a) | 100,405 | 147,725 | ||||||
Magnesita Refratarios SA | 41,816 | 732,246 | ||||||
Mahle-Metal Leve SA | 37,594 | 278,256 | ||||||
Marcopolo SA Preference Shares | 513,296 | 602,315 | ||||||
Marfrig Global Foods SA (a) | 212,401 | 379,607 | ||||||
Metalurgica Gerdau SA Preference Shares | 500,794 | 1,075,842 | ||||||
Mills Estruturas e Servicos de Engenharia SA (a) | 145,457 | 141,798 | ||||||
Minerva SA | 43,410 | 98,873 | ||||||
MRV Engenharia e Participacoes SA | 261,487 | 1,278,482 |
Security Description | Shares | Value | ||||||
Oi SA Preference Shares (a) | 186,700 | $ | 197,733 | |||||
Paranapanema SA (a) | 253,596 | 113,689 | ||||||
QGEP Participacoes SA | 179,052 | 612,535 | ||||||
Randon SA Implementos e Participacoes Preference Shares | 271,909 | 706,034 | ||||||
Santos Brasil Participacoes SA (a) | 167,697 | 178,111 | ||||||
Sao Martinho SA | 79,835 | 421,082 | ||||||
Ser Educacional SA (b) | 58,314 | 351,084 | ||||||
SLC Agricola SA | 80,479 | 836,608 | ||||||
TOTVS SA | 91,933 | 796,904 | ||||||
Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA | 79,543 | 435,577 | ||||||
Wiz Solucoes e Corretagem de Seguros SA | 5,800 | 19,371 | ||||||
|
| |||||||
25,386,469 | ||||||||
|
| |||||||
CHILE — 1.5% | ||||||||
Besalco SA | 132,412 | 153,000 | ||||||
CAP SA | 63,887 | 725,598 | ||||||
Inversiones Aguas Metropolitanas SA | 556,503 | 1,024,279 | ||||||
Inversiones La Construccion SA | 50,887 | 1,001,864 | ||||||
Ripley Corp. SA | 1,032,093 | 1,064,677 | ||||||
Salfacorp SA | 479,808 | 911,338 | ||||||
SMU SA (a) | 2,199,501 | 674,174 | ||||||
Sociedad Matriz SAAM SA | 7,367,176 | 754,825 | ||||||
SONDA SA | 222,300 | 431,809 | ||||||
Vina Concha y Toro SA | 635,708 | 1,375,130 | ||||||
|
| |||||||
8,116,694 | ||||||||
|
| |||||||
CHINA — 15.1% | ||||||||
21Vianet Group, Inc. ADR (a) | 47,310 | 327,858 | ||||||
361 Degrees International, Ltd. | 1,008,000 | 324,942 | ||||||
500.com, Ltd. Class A, ADR (a) (c) | 30,005 | 514,886 | ||||||
Anton Oilfield Services Group (a) | 2,494,000 | 308,243 | ||||||
AVIC International Holding HK, Ltd. (a) (c) | 3,323,933 | 139,762 | ||||||
Baozun, Inc. ADR (a) | 23,888 | 1,095,981 | ||||||
Beijing Capital Land, Ltd. Class H | 1,240,400 | 755,464 | ||||||
Beijing Enterprises Clean Energy Group, Ltd. (a) (c) | 20,023,885 | 650,598 | ||||||
Boshiwa International Holding, Ltd. (a) (c) (d) | 1,843,000 | — | ||||||
Boyaa Interactive International, Ltd. (a) | 928,000 | 359,456 | ||||||
Bright Scholar Education Holdings, Ltd. ADR (a) (c) | 1,200 | 18,528 | ||||||
CGN Meiya Power Holdings Co., Ltd. (a) (b) | 1,918,000 | 259,047 | ||||||
Changyou.com, Ltd. ADR (a) | 16,168 | 450,925 | ||||||
Chaowei Power Holdings, Ltd. (c) | 783,000 | 423,011 | ||||||
Cheetah Mobile, Inc. ADR (a) (c) | 38,997 | 521,390 | ||||||
China Aerospace International Holdings, Ltd. | 2,468,000 | 267,294 | ||||||
China Aircraft Leasing Group Holdings, Ltd. | 544,500 | 573,757 | ||||||
China Animal Healthcare, Ltd. (a) (c) (d) | 1,059,700 | — |
15
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
China Aoyuan Property Group, Ltd. | 1,208,000 | $ | 1,109,754 | |||||
China BlueChemical, Ltd. Class H | 1,982,000 | 555,585 | ||||||
China Chengtong Development Group, Ltd. (a) (c) | 2,916,000 | 141,187 | ||||||
China Distance Education Holdings, Ltd. ADR | 37,994 | 310,411 | ||||||
China Dongxiang Group Co., Ltd. | 4,497,000 | 784,997 | ||||||
China Electronics Corp. Holdings Co., Ltd. | 1,274,000 | 186,677 | ||||||
China Energine International Holdings, Ltd. (a) | 698,000 | 30,683 | ||||||
China Fangda Group Co., Ltd. Class B | 441,050 | 278,175 | ||||||
China Foods, Ltd. | 782,000 | 359,698 | ||||||
China Forestry Holdings Co., Ltd. (c) (d) | 1,642,000 | — | ||||||
China Greenland Broad Greenstate Group Co., Ltd. (c) | 848,000 | 124,256 | ||||||
China Harmony New Energy Auto Holding, Ltd. (a) (c) | 747,500 | 479,075 | ||||||
China Hongxing Sports, Ltd. (a) (c) (d) | 4,053,000 | — | ||||||
China Huiyuan Juice Group, Ltd. (a) | 1,494,400 | 384,630 | ||||||
China Lilang, Ltd. | 1,028,000 | 1,283,641 | ||||||
China Logistics Property Holdings Co., Ltd. (a) (c) | 1,283,000 | 398,879 | ||||||
China Maple Leaf Educational Systems, Ltd. | 696,000 | 932,931 | ||||||
China Modern Dairy Holdings, Ltd. (a) | 2,532,000 | 432,308 | ||||||
China National Materials Co., Ltd. Class H | 1,347,000 | 1,228,867 | ||||||
China Nuclear Energy Technology Corp., Ltd. (a) | 1,312,000 | 234,038 | ||||||
China Overseas Grand Oceans Group, Ltd. | 1,172,000 | 567,460 | ||||||
China Overseas Property Holdings, Ltd. (c) | 1,766,232 | 551,364 | ||||||
China Pioneer Pharma Holdings, Ltd. | 498,000 | 157,999 | ||||||
China Power Clean Energy Development Co., Ltd. | 550,000 | 299,237 | ||||||
China Rare Earth Holdings, Ltd. (a) | 1,910,400 | 113,188 | ||||||
China Resources Phoenix Healthcare Holdings Co., Ltd. | 645,500 | 778,880 | ||||||
China SCE Property Holdings, Ltd. | 2,415,800 | 1,249,716 | ||||||
China Shanshui Cement Group, Ltd. (a) (c) (d) | 1,224,000 | 58,484 | ||||||
China Shengmu Organic Milk, Ltd. (a) (b) (c) | 2,712,000 | 369,741 | ||||||
China Shineway Pharmaceutical Group, Ltd. (a) | 390,000 | 594,320 | ||||||
China Silver Group, Ltd. | 1,086,000 | 238,003 | ||||||
China Singyes Solar Technologies Holdings, Ltd. (c) | 568,600 | 207,928 |
Security Description | Shares | Value | ||||||
China South City Holdings, Ltd. | 1,054,000 | $ | 237,705 | |||||
China Suntien Green Energy Corp., Ltd. Class H | 1,667,000 | 467,286 | ||||||
China Travel International Investment Hong Kong, Ltd. | 3,574,000 | 1,265,971 | ||||||
China Yurun Food Group, Ltd. (a) (c) | 1,129,000 | 151,045 | ||||||
Chinasoft International, Ltd. (a) (c) | 1,934,000 | 1,734,816 | ||||||
Chlitina Holding, Ltd. | 71,678 | 480,607 | ||||||
Chongqing Iron & Steel Co., Ltd. Class H (a) | 646,000 | 124,289 | ||||||
CITIC Resources Holdings, Ltd. | 3,469,000 | 388,966 | ||||||
CITIC Telecom International Holdings, Ltd. | 1,959,000 | 566,611 | ||||||
Colour Life Services Group Co., Ltd. | 625,000 | 586,911 | ||||||
Consun Pharmaceutical Group, Ltd. | 530,600 | 563,166 | ||||||
Coolpad Group, Ltd. (a) (d) | 2,353,600 | 107,959 | ||||||
CPMC Holdings, Ltd. | 81,000 | 52,016 | ||||||
CSMall Group, Ltd. (a) | 17,600 | 5,270 | ||||||
CT Environmental Group, Ltd. (c) | 3,409,900 | 612,611 | ||||||
Dah Chong Hong Holdings, Ltd. | 1,260,000 | 635,755 | ||||||
Daqo New Energy Corp. ADR (a) | 3,103 | 151,892 | ||||||
Eastern Communications Co., Ltd. Class B | 246,074 | 146,660 | ||||||
Fang Holdings, Ltd. ADR (a) (c) | 176,767 | 908,582 | ||||||
Fanhua, Inc. ADR (c) | 41,184 | 1,112,792 | ||||||
First Tractor Co., Ltd. Class H (c) | 646,500 | 240,534 | ||||||
Foshan Electrical and Lighting Co., Ltd. Class B | 157,800 | 119,029 | ||||||
Foxsemicon Integrated Technology, Inc | 81,000 | 641,733 | ||||||
Fu Shou Yuan International Group, Ltd. | 1,508,000 | 1,494,877 | ||||||
Fufeng Group, Ltd. | 1,180,600 | 699,488 | ||||||
Future Land Holdings Co., Ltd. Class A | 531,529 | 2,955,144 | ||||||
GDS Holdings, Ltd. ADR (a) | 5,000 | 137,250 | ||||||
Genscript Biotech Corp. (c) | 510,000 | 1,631,054 | ||||||
Goodbaby International Holdings, Ltd. | 945,000 | 645,388 | ||||||
Grand Baoxin Auto Group, Ltd. (a) | 922,101 | 386,544 | ||||||
Greatview Aseptic Packaging Co., Ltd. | 1,022,048 | 687,590 | ||||||
Greentown Service Group Co., Ltd. | 1,338,000 | 1,130,301 | ||||||
Guorui Properties, Ltd. | 1,147,000 | 302,523 | ||||||
Harbin Electric Co., Ltd. Class H | 1,222,000 | 428,182 | ||||||
Hilong Holding, Ltd. | 1,158,100 | 175,597 | ||||||
HNA Holding Group Co., Ltd. (a) (c) | 4,054,000 | 173,043 | ||||||
Hollysys Automation Technologies, Ltd. | 47,047 | 1,163,002 | ||||||
Honghua Group, Ltd. (a) | 2,718,000 | 283,980 | ||||||
Hua Hong Semiconductor, Ltd. (b) | 120,000 | 237,606 | ||||||
Huadian Energy Co.,Ltd. Class B (a) | 345,900 | 125,216 |
16
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Huangshan Tourism Development Co., Ltd. Class B | 427,861 | $ | 539,105 | |||||
JA Solar Holdings Co., Ltd. ADR (a) (c) | 65,273 | 428,191 | ||||||
Jiangnan Group, Ltd. (c) | 504,000 | 31,146 | ||||||
JinkoSolar Holding Co., Ltd. ADR (a) (c) | 23,708 | 432,671 | ||||||
Jumei International Holding, Ltd. ADR (a) (c) | 47,587 | 138,002 | ||||||
Kama Co., Ltd. Class B (a) | 270,800 | 212,578 | ||||||
Kandi Technologies Group, Inc. (a) (c) | 45,064 | 218,560 | ||||||
Kangda International Environmental Co., Ltd. (b) | 1,904,200 | 356,660 | ||||||
Kingdee International Software Group Co., Ltd. (a) (c) | 1,928,000 | 1,940,701 | ||||||
Launch Tech Co., Ltd. Class H | 180,500 | 200,088 | ||||||
Leyou Technologies Holdings, Ltd. (a) | 1,459,200 | 304,918 | ||||||
Li Ning Co., Ltd. (a) | 2,197,249 | 2,250,918 | ||||||
Lifetech Scientific Corp. (a) (c) | 2,478,000 | 719,881 | ||||||
Link Motion, Inc. ADR (a) (c) | 105,480 | 175,097 | ||||||
Lonking Holdings, Ltd. | 2,415,000 | 1,027,751 | ||||||
Luoyang Glass Co., Ltd. Class H (a) (c) | 472,000 | 230,939 | ||||||
Luye Pharma Group, Ltd. (c) | 1,916,500 | 1,833,889 | ||||||
Maoye International Holdings, Ltd. | 1,666,000 | 186,802 | ||||||
Nanjing Panda Electronics Co., Ltd. Class H | 144,000 | 74,309 | ||||||
National Agricultural Holdings, Ltd. (a) (d) | 396,000 | 30,022 | ||||||
Noah Holdings, Ltd. ADS (a) (c) | 26,530 | 1,252,481 | ||||||
Ourgame International Holdings, Ltd. (a) | 604,000 | 159,306 | ||||||
Ozner Water International Holding, Ltd. (a) (b) (c) | 1,309,000 | 350,254 | ||||||
Pacific Online, Ltd. | 932,100 | 133,016 | ||||||
Parkson Retail Group, Ltd. (a) | 2,874,000 | 333,236 | ||||||
Poly Culture Group Corp., Ltd. Class H | 166,700 | 295,665 | ||||||
Poly Property Group Co., Ltd. (a) | 2,099,000 | 1,032,343 | ||||||
Powerlong Real Estate Holdings, Ltd. (c) | 1,344,000 | 707,251 | ||||||
PW Medtech Group, Ltd. (a) | 2,526,000 | 415,191 | ||||||
Real Gold Mining, Ltd. (a) (d) | 251,500 | — | ||||||
Renhe Commercial Holdings Co., Ltd. (a) (c) | 7,450,000 | 145,235 | ||||||
Renren, Inc. ADR (a) (c) | 23,786 | 199,802 | ||||||
Shandong Airlines Co., Ltd. Class B | 216,700 | 407,816 | ||||||
Shandong Zhonglu Oceanic Fisheries Co., Ltd. Class B (a) | 90,900 | 53,973 | ||||||
Shang Gong Group Co., Ltd. Class B (a) | 252,000 | 224,532 | ||||||
Shanghai Chlor-Alkali Chemical Co., Ltd. Class B (a) | 429,600 | 333,799 | ||||||
Shanghai Diesel Engine Co., Ltd. Class B | 373,360 | 255,005 |
Security Description | Shares | Value | ||||||
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. Class H (c) | 498,000 | $ | 237,950 | |||||
Shanghai Greencourt Investment Group Co., Ltd. Class B (a) | 466,800 | 256,740 | ||||||
Shanghai Haixin Group Co. Class B | 645,708 | 397,756 | ||||||
Shanghai Highly Group Co., Ltd. Class B | 259,900 | 229,752 | ||||||
Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H | 1,072,000 | 438,454 | ||||||
Shanghai Jinjiang International Industrial Investment Co., Ltd. Class B | 115,600 | 139,992 | ||||||
Shanghai Jinjiang International Travel Co., Ltd. Class B | 99,400 | 256,452 | ||||||
Shanghai Potevio Co., Ltd. Class B (a) | 79,800 | 32,638 | ||||||
Shenwan Hongyuan HK, Ltd. | 520,000 | 159,678 | ||||||
Shenzhen China Bicycle Co. Holdings, Ltd. Class B (a) | 231,500 | 66,663 | ||||||
Shenzhen Chiwan Petroleum Class B (a) | 40,300 | 125,445 | ||||||
Shenzhen SEG Co., Ltd. Class B | 150,300 | 66,070 | ||||||
Shougang Concord International Enterprises Co., Ltd. (a) (c) | 19,058,000 | 529,369 | ||||||
Shougang Fushan Resources Group, Ltd. | 3,122,000 | 795,586 | ||||||
Shui On Land, Ltd. | 491,500 | 133,391 | ||||||
Shunfeng International Clean Energy, Ltd. (a) | 1,445,300 | 55,246 | ||||||
Sichuan Expressway Co., Ltd. Class H | 1,642,000 | 579,532 | ||||||
Silergy Corp. | 64,000 | 1,442,124 | ||||||
Sinofert Holdings, Ltd. (a) (c) | 1,588,000 | 202,337 | ||||||
Sinopec Kantons Holdings, Ltd. | 1,096,000 | 540,438 | ||||||
Sinosoft Technology Group, Ltd. | 728,200 | 245,879 | ||||||
Sinotrans Shipping, Ltd. (c) | 2,170,500 | 580,769 | ||||||
Sinovac Biotech, Ltd. (a) | 73,417 | 632,120 | ||||||
Skyfame Realty Holdings, Ltd. (a) | 554,000 | 407,296 | ||||||
Sohu.com, Inc. (a) | 30,947 | 956,881 | ||||||
Springland International Holdings, Ltd. | 1,357,000 | 325,059 | ||||||
Sun King Power Electronics Group | 1,119,000 | 219,571 | ||||||
Tarena International, Inc. ADR | 39,970 | 448,463 | ||||||
Tian Ge Interactive Holdings, Ltd. (b) | 741,000 | 624,085 | ||||||
Tiangong International Co., Ltd. | 1,712,000 | 296,666 | ||||||
Tianjin Development Holdings, Ltd. | 836,000 | 370,689 | ||||||
Tianjin Port Development Holdings, Ltd. | 4,070,000 | 565,256 | ||||||
Tianjin ZhongXin Pharmaceutical Group Corp., Ltd. | 361,500 | 332,580 | ||||||
Tianneng Power International, Ltd. | 996,000 | 1,178,961 | ||||||
Tong Ren Tang Technologies Co., Ltd. Class H | 754,000 | 1,256,619 |
17
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Tongfang Kontafarma Holdings, Ltd. (a) | 2,013,553 | $ | 112,886 | |||||
Tuniu Corp. ADR (a) (c) | 90,956 | 547,555 | ||||||
Universal Medical Financial & Technical Advisory Services Co., Ltd. (b) | 949,900 | 827,863 | ||||||
V1 Group, Ltd. (a) (c) | 2,188,999 | 61,361 | ||||||
Virscend Education Co., Ltd. (b) | 1,038,000 | 645,419 | ||||||
West China Cement, Ltd. (a) | 2,616,000 | 496,648 | ||||||
Wisdom Sports Group (c) | 1,251,000 | 125,924 | ||||||
Xiamen International Port Co., Ltd. Class H | 2,098,000 | 382,266 | ||||||
Xi’an Haitiantian Holdings Co., Ltd. (a) | 242,000 | 185,625 | ||||||
Xunlei, Ltd. ADR (a) (c) | 20,400 | 205,836 | ||||||
Yangtze Optical Fibre and Cable Joint Stock, Ltd. Co. Class H (b) | 174,000 | 804,786 | ||||||
Yestar Healthcare Holdings Co., Ltd. (c) | 1,692,200 | 588,625 | ||||||
YiChang HEC ChangJiang Pharmaceutical Co., Ltd. Class H (b) | 34,400 | 158,450 | ||||||
YuanShengTai Dairy Farm, Ltd. (a) | 5,309,000 | 236,758 | ||||||
Yuexiu Transport Infrastructure, Ltd. | 1,160,549 | 893,151 | ||||||
Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H | 220,600 | 118,897 | ||||||
|
| |||||||
84,541,935 | ||||||||
|
| |||||||
COLOMBIA — 0.0% (e) | ||||||||
Avianca Holdings SA Preference Shares | 189,675 | 203,046 | ||||||
|
| |||||||
CZECH REPUBLIC — 0.5% | ||||||||
Moneta Money Bank A/S (b) | 506,469 | 2,097,947 | ||||||
Philip Morris CR A/S | 1,032 | 857,971 | ||||||
|
| |||||||
2,955,918 | ||||||||
|
| |||||||
EGYPT — 1.1% | ||||||||
Eastern Tobacco | 43,562 | 1,469,742 | ||||||
Egypt Kuwait Holding Co. SAE | 558,391 | 558,391 | ||||||
Egyptian Financial Group-Hermes Holding Co. | 404,753 | 590,944 | ||||||
ElSewedy Electric Co. | 107,126 | 1,316,380 | ||||||
Ezz Steel (a) | 383,580 | 576,349 | ||||||
Global Telecom Holding SAE (a) | 1,489,242 | 554,981 | ||||||
Juhayna Food Industries | 467,628 | 301,849 | ||||||
Orascom Telecom Media And Technology Holding SAE | 2,912,994 | 143,750 | ||||||
Sidi Kerir Petrochemicals Co. | 126,671 | 213,322 | ||||||
Six of October Development & Investment (a) | 431,618 | 664,442 | ||||||
|
| |||||||
6,390,150 | ||||||||
|
| |||||||
GREECE — 0.9% | ||||||||
Aegean Airlines SA | 53,542 | 588,028 | ||||||
Aegean Marine Petroleum Network, Inc. | 43,542 | 97,970 |
Security Description | Shares | Value | ||||||
Attica Bank SA (a) | 540,359 | $ | 20,203 | |||||
Diana Shipping, Inc. (a) | 70,867 | 259,373 | ||||||
Ellaktor SA (a) | 93,990 | 181,020 | ||||||
FF Group (a) | 24,815 | 483,417 | ||||||
Grivalia Properties REIC AE REIT | 47,984 | 522,266 | ||||||
Hellenic Exchanges - Athens Stock Exchange SA | 76,425 | 437,060 | ||||||
Holding Co. ADMIE IPTO SA (a) | 129,043 | 279,318 | ||||||
Mytilineos Holdings SA (a) | 94,302 | 1,009,003 | ||||||
Public Power Corp. SA (a) | 108,603 | 345,400 | ||||||
Star Bulk Carriers Corp. (a) | 20,144 | 234,275 | ||||||
StealthGas, Inc. (a) | 67,939 | 272,435 | ||||||
Tsakos Energy Navigation, Ltd. | 112,483 | 371,194 | ||||||
|
| |||||||
5,100,962 | ||||||||
|
| |||||||
HONG KONG — 2.8% | ||||||||
Ajisen China Holdings, Ltd. | 687,000 | 323,879 | ||||||
Anxin-China Holdings, Ltd. (a) (d) | 2,248,000 | — | ||||||
Beijing Enterprises Medical & Health Group, Ltd. (a) | 2,351,600 | 107,867 | ||||||
Carnival Group International Holdings, Ltd. (a) | 6,350,000 | 291,273 | ||||||
China All Access Holdings, Ltd. | 1,282,000 | 408,369 | ||||||
China Animation Characters Co., Ltd. (c) | 1,062,000 | 389,710 | ||||||
China Beidahuang Industry Group Holdings, Ltd. Class A (a) | 2,170,400 | 110,618 | ||||||
China Financial International Investments, Ltd. (a) | 2,850,000 | 98,047 | ||||||
China First Capital Group, Ltd. (a) | 2,760,000 | 1,297,657 | ||||||
China High Precision Automation Group, Ltd. (a) (d) | 1,226,000 | — | ||||||
China High Speed Transmission Equipment Group Co., Ltd. (c) | 836,000 | 1,314,455 | ||||||
China Lumena New Materials Corp. (a) (c) (d) | 4,181,298 | — | ||||||
China Metal Recycling Holdings, Ltd. (a) (c) (d) | 693,675 | — | ||||||
China Minsheng Drawin Technology Group, Ltd. (a) (c) | 1,480,000 | 38,469 | ||||||
China Minsheng Financial Holding Corp., Ltd. (a) | 1,230,000 | 39,180 | ||||||
China NT Pharma Group Co., Ltd. | 949,400 | 227,422 | ||||||
China Oil & Gas Group, Ltd. | 4,868,000 | 390,765 | ||||||
China Soft Power Technology Holdings, Ltd. (a) | 1,736,000 | 26,986 | ||||||
China Water Affairs Group, Ltd. | 28,000 | 28,506 | ||||||
Comba Telecom Systems Holdings, Ltd. | 1,140,575 | 152,594 | ||||||
Concord New Energy Group, Ltd. | 8,380,000 | 379,050 | ||||||
Co-Prosperity Holdings, Ltd. (a) | 656,000 | 25,911 | ||||||
Dawnrays Pharmaceutical Holdings, Ltd. | 705,000 | 386,262 | ||||||
Digital China Holdings, Ltd. (a) (c) | 942,000 | 517,312 | ||||||
EPI Holdings, Ltd. (a) | 540,000 | 63,988 | ||||||
Glorious Property Holdings, Ltd. (a) | 2,003,000 | 176,098 | ||||||
Golden Meditech Holdings, Ltd. | 684,000 | 78,437 |
18
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Greater China Financial Holdings, Ltd. (a) | 1,560,300 | $ | 35,984 | |||||
Green Leader Holdings Group, Ltd. (a) | 1,580,000 | 71,468 | ||||||
Hengdeli Holdings, Ltd. | 2,168,400 | 103,608 | ||||||
Hi Sun Technology China, Ltd. (a) | 1,797,000 | 318,264 | ||||||
Hua Han Health Industry Holdings, Ltd. (a) (d) | 2,414,560 | 122,292 | ||||||
Huabao International Holdings, Ltd. | 1,390,000 | 920,964 | ||||||
Huayi Tencent Entertainment Co., Ltd. (a) (c) | 3,090,000 | 153,549 | ||||||
Jiayuan International Group, Ltd. (a) | 150,000 | 216,735 | ||||||
Ju Teng International Holdings, Ltd. | 995,500 | 246,075 | ||||||
MIE Holdings Corp. (a) | 2,042,754 | 106,715 | ||||||
Munsun Capital Group, Ltd. (a) | 2,402,000 | 12,242 | ||||||
Neo Telemedia, Ltd. | 4,820,000 | 105,633 | ||||||
NetDragon Websoft Holdings, Ltd. (c) | 259,500 | 631,532 | ||||||
New Provenance Everlasting Holdings, Ltd. (a) (c) | 7,930,000 | 162,676 | ||||||
NewOcean Energy Holdings, Ltd. (a) | 1,656,000 | 377,692 | ||||||
Pou Sheng International Holdings, Ltd. | 2,217,000 | 562,138 | ||||||
Qianhai Health Holdings, Ltd. (a) | 849,005 | 8,546 | ||||||
Skyworth Digital Holdings, Ltd. | 1,836,000 | 825,794 | ||||||
Solartech International Holdings, Ltd. (a) | 300,000 | 31,727 | ||||||
SSY Group, Ltd. | 1,969,562 | 1,729,073 | ||||||
Tech Pro Technology Development, Ltd. (a) (f) | 6,035,100 | 52,290 | ||||||
Tibet Water Resources, Ltd. (a) (c) | 1,984,000 | 786,188 | ||||||
United Laboratories International Holdings, Ltd. (a) (c) | 996,500 | 1,032,268 | ||||||
Vision Values Holdings, Ltd. (a) | 430,000 | 31,778 | ||||||
Wasion Group Holdings, Ltd. | 783,000 | 399,067 | ||||||
|
| |||||||
15,917,153 | ||||||||
|
| |||||||
HUNGARY — 0.2% | ||||||||
Magyar Telekom | ||||||||
Telecommunications PLC | 571,848 | 1,021,657 | ||||||
|
| |||||||
INDIA — 13.1% | ||||||||
Aarti Industries | 1,510 | 26,550 | ||||||
Abbott India, Ltd. | 3,952 | 330,412 | ||||||
Adani Power, Ltd. (a) | 805,404 | 292,664 | ||||||
Aditya Birla Capital, Ltd. (a) | 399,787 | 894,624 | ||||||
Aditya Birla Fashion and Retail, Ltd. (a) | 273,739 | 633,126 | ||||||
Aegis Logistics, Ltd. | 17,698 | 70,443 | ||||||
AIA Engineering, Ltd. | 52,233 | 1,154,350 | ||||||
Ajanta Pharma, Ltd. | 1,199 | 25,559 | ||||||
Arvind, Ltd. | 178,130 | 1,045,892 | ||||||
Avanti Feeds, Ltd. | 4,606 | 157,812 | ||||||
Bajaj Corp., Ltd. | 58,574 | 423,936 | ||||||
Bajaj Hindusthan Sugar, Ltd. (a) | 904,905 | 122,094 | ||||||
Balrampur Chini Mills, Ltd. | 360,417 | 418,044 |
Security Description | Shares | Value | ||||||
Bata India, Ltd. | 102,195 | $ | 1,143,749 | |||||
Bharat Financial Inclusion, Ltd. (a) | 104,983 | 1,765,526 | ||||||
Blue Dart Express, Ltd. | 6,426 | 371,318 | ||||||
CARE Ratings, Ltd. | 20,693 | 383,486 | ||||||
Ceat, Ltd. | 34,067 | 786,780 | ||||||
CG Power and Industrial Solutions, Ltd. (a) | 539,183 | 641,513 | ||||||
Chennai Super Kings Cricket, Ltd. (a) (d) | 418,560 | — | ||||||
City Union Bank, Ltd. | 198,522 | 524,904 | ||||||
Coffee Day Enterprises, Ltd. (a) (b) | 7,365 | 34,424 | ||||||
Cyient, Ltd. | 47,150 | 502,320 | ||||||
DCM Shriram, Ltd. | 5,934 | 38,599 | ||||||
DEN Networks, Ltd. (a) | 21,115 | 32,747 | ||||||
Dilip Buildcon, Ltd. (b) | 12,470 | 191,825 | ||||||
Dish TV India, Ltd. (a) | 580,204 | 633,831 | ||||||
Dixon Technologies India, Ltd. (a) | 666 | 33,606 | ||||||
Dr Lal PathLabs, Ltd. (b) | 31,362 | 421,371 | ||||||
eClerx Services, Ltd. | 17,307 | 318,826 | ||||||
Engineers India, Ltd. | 104,015 | 252,695 | ||||||
Eros International Media, Ltd. (a) | 78,802 | 200,806 | ||||||
Escorts, Ltd. | 114,143 | 1,431,738 | ||||||
Force Motors, Ltd. | 10,516 | 440,654 | ||||||
Fortis Healthcare, Ltd. (a) | 229,936 | 434,865 | ||||||
Gateway Distriparks, Ltd. | 188,197 | 504,241 | ||||||
GE T&D India, Ltd. | 87,235 | 545,037 | ||||||
GMR Infrastructure, Ltd. (a) | 2,493,975 | 644,317 | ||||||
Godfrey Phillips India, Ltd. | 23,764 | 299,228 | ||||||
Godrej Properties, Ltd. (a) | 77,149 | 855,099 | ||||||
Graphite India, Ltd. | 36,246 | 403,519 | ||||||
GTL Infrastructure, Ltd. (a) | 972,215 | 38,756 | ||||||
Gujarat Alkalies & Chemicals, Ltd. | 4,302 | 46,076 | ||||||
Gujarat Fluorochemicals, Ltd. | 3,553 | 43,390 | ||||||
Gujarat Narmada Valley Fertilizers & Chemicals, Ltd. | 9,931 | 55,417 | ||||||
Gujarat Pipavav Port, Ltd. | 374,332 | 834,219 | ||||||
GVK Power & Infrastructure, Ltd. (a) | 196,798 | 42,545 | ||||||
Hathway Cable & Datacom, Ltd. (a) | 139,090 | 72,188 | ||||||
HEG, Ltd. | 12,144 | 593,033 | ||||||
Hexaware Technologies, Ltd. | 215,637 | 1,245,947 | ||||||
Himachal Futuristic Communications, Ltd. (a) | 351,674 | 139,383 | ||||||
Himadri Speciality Chemical, Ltd. | 38,420 | 86,092 | ||||||
Hindustan Construction Co., Ltd. (a) | 141,116 | 48,033 | ||||||
Hindustan Copper, Ltd. | 18,768 | 18,100 | ||||||
Housing Development & Infrastructure, Ltd. (a) | 349,914 | 207,089 | ||||||
HSIL, Ltd. | 3,677 | 20,927 | ||||||
IDBI Bank, Ltd. (a) | 243,206 | 269,227 | ||||||
IDFC, Ltd. | 889,215 | 664,644 | ||||||
IFCI, Ltd. (a) | 977,802 | 293,093 | ||||||
India Cements, Ltd. | 400,931 | 871,366 | ||||||
Indiabulls Real Estate, Ltd. (a) | 454,901 | 1,265,557 |
19
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Indiabulls Ventures, Ltd. | 172,657 | $ | 645,660 | |||||
Indian Hotels Co., Ltd. | 601,544 | 1,193,465 | ||||||
Infibeam Incorporation, Ltd. | 29,719 | 67,666 | ||||||
Info Edge India, Ltd. | 84,867 | 1,529,440 | ||||||
Ipca Laboratories, Ltd. | 68,083 | 684,414 | ||||||
IRB Infrastructure Developers, Ltd. | 211,438 | 722,929 | ||||||
J Kumar Infraprojects, Ltd. | 5,375 | 22,366 | ||||||
Jain Irrigation Systems, Ltd. | 291,658 | 476,022 | ||||||
Jaiprakash Associates, Ltd. (a) | 795,035 | 230,386 | ||||||
Jaiprakash Power Ventures, Ltd. (a) | 369,736 | 26,927 | ||||||
Jammu & Kashmir Bank, Ltd. (a) | 430,004 | 397,885 | ||||||
Jaypee Infratech, Ltd. (a) | 304,143 | 39,171 | ||||||
Jindal Steel & Power, Ltd. (a) | 299,180 | 1,005,039 | ||||||
JM Financial, Ltd. | 43,441 | 85,787 | ||||||
JSW Energy, Ltd. | 718,231 | 801,684 | ||||||
Jubilant Foodworks, Ltd. | 54,417 | 1,940,547 | ||||||
Jubilant Life Sciences, Ltd. | 106,181 | 1,366,626 | ||||||
Just Dial, Ltd. (a) | 49,842 | 338,576 | ||||||
Jyothy Laboratories, Ltd. | 51,394 | 311,926 | ||||||
Kajaria Ceramics, Ltd. | 118,883 | 1,043,617 | ||||||
Karur Vysya Bank, Ltd. | 465,229 | 716,514 | ||||||
KEC International, Ltd. | 4,524 | 27,034 | ||||||
KEI Industries, Ltd. | 11,261 | 66,473 | ||||||
KPIT Technologies, Ltd. | 239,764 | 796,068 | ||||||
KRBL, Ltd. | 43,252 | 289,234 | ||||||
Mahindra CIE Automotive, Ltd. (a) | 114,835 | 378,108 | ||||||
MakeMyTrip, Ltd. (a) (c) | 38,166 | 1,324,360 | ||||||
Manappuram Finance, Ltd. | 554,702 | 927,456 | ||||||
Manpasand Beverages, Ltd. | 4,228 | 23,972 | ||||||
Marksans Pharma, Ltd. | 549,434 | 266,623 | ||||||
McLeod Russel India, Ltd. | 125,381 | 276,438 | ||||||
Minda Industries, Ltd. | 5,872 | 96,027 | ||||||
Mindtree, Ltd. | 170,441 | 2,017,303 | ||||||
Monsanto India, Ltd. | 6,752 | 285,638 | ||||||
Mphasis, Ltd. | 84,577 | 1,086,362 | ||||||
Natco Pharma, Ltd. | 85,543 | 988,467 | ||||||
NCC, Ltd. | 736,612 | 1,327,606 | ||||||
Oberoi Realty, Ltd. | 71,459 | 559,046 | ||||||
PC Jeweller, Ltd. | 111,758 | 548,666 | ||||||
Persistent Systems, Ltd. | 55,232 | 587,746 | ||||||
Pfizer, Ltd. | 11,803 | 395,450 | ||||||
Phoenix Mills, Ltd. | 42,479 | 385,180 | ||||||
PI Industries, Ltd. | 97,293 | 1,320,477 | ||||||
Prestige Estates Projects, Ltd. | 120,495 | 539,091 | ||||||
PTC India, Ltd. | 431,251 | 577,896 | ||||||
PVR, Ltd. | 53,392 | 994,832 | ||||||
Quess Corp., Ltd. (a) (b) | 17,563 | 276,821 | ||||||
Radico Khaitan, Ltd. | 13,164 | 67,060 | ||||||
Rain Industries, Ltd. | 50,869 | 292,204 | ||||||
Redington India, Ltd. | 367,613 | 827,418 | ||||||
Reliance Communications, Ltd. (a) | 1,072,846 | 357,771 | ||||||
Reliance Home Finance, Ltd. (a) | 121,394 | 110,931 | ||||||
Reliance Naval and Engineering, Ltd. (a) | 340,290 | 142,958 |
Security Description | Shares | Value | ||||||
Reliance Power, Ltd. (a) | 397,256 | $ | 219,880 | |||||
Repco Home Finance, Ltd. | 8,749 | 75,435 | ||||||
Sadbhav Engineering, Ltd. | 88,291 | 527,201 | ||||||
Sanghvi Movers, Ltd. | 14,917 | 39,670 | ||||||
Schaeffler India, Ltd. | 3,964 | 316,112 | ||||||
Shree Renuka Sugars, Ltd. (a) | 206,604 | 48,624 | ||||||
Sintex Industries, Ltd. | 460,375 | 126,702 | ||||||
Sintex Plastics Technology, Ltd. (a) | 483,594 | 426,341 | ||||||
SKF India, Ltd. | 25,799 | 693,493 | ||||||
Sobha, Ltd. | 15,447 | 120,314 | ||||||
Sterlite Technologies, Ltd. | 71,188 | 340,977 | ||||||
Strides Shasun, Ltd. | 66,306 | 680,275 | ||||||
Sun Pharma Advanced Research Co., Ltd. (a) | 121,745 | 704,374 | ||||||
Sundram Fasteners, Ltd. | 7,728 | 65,323 | ||||||
Suzlon Energy, Ltd. (a) | 3,867,988 | 634,566 | ||||||
Symphony, Ltd. | 38,036 | 1,044,971 | ||||||
Syndicate Bank (a) | 43,155 | 36,689 | ||||||
Tata Elxsi, Ltd. | 18,352 | 277,257 | ||||||
Tata Global Beverages, Ltd. | 384,936 | 1,527,133 | ||||||
Thermax, Ltd. | 61,183 | 1,064,343 | ||||||
Time Technoplast, Ltd. | 22,307 | 54,774 | ||||||
Torrent Power, Ltd. | 229,424 | 806,410 | ||||||
TTK Prestige, Ltd. | 219 | 20,765 | ||||||
TV18 Broadcast, Ltd. (a) | 95,183 | 97,924 | ||||||
Union Bank of India (a) | 355,687 | 512,630 | ||||||
Unitech, Ltd. (a) | 1,817,647 | 154,672 | ||||||
Vardhman Textiles, Ltd. | 1,232 | 23,087 | ||||||
Varun Beverages, Ltd. | 4,968 | 47,942 | ||||||
Videocon d2h, Ltd. ADR (a) | 56,933 | 466,851 | ||||||
WABCO India, Ltd. | 6,335 | 770,321 | ||||||
Welspun Corp., Ltd. | 221,570 | 458,280 | ||||||
Welspun India, Ltd. | 314,563 | 279,974 | ||||||
WNS Holdings, Ltd. ADR (a) | 51,952 | 2,354,984 | ||||||
Wockhardt, Ltd. (a) | 1,983 | 22,089 | ||||||
|
| |||||||
73,135,358 | ||||||||
|
| |||||||
INDONESIA — 3.1% | ||||||||
Ace Hardware Indonesia Tbk PT | 2,170,400 | 209,670 | ||||||
Adhi Karya Persero Tbk PT | 3,869,291 | 581,764 | ||||||
AKR Corporindo Tbk PT | 1,961,500 | 808,536 | ||||||
Alam Sutera Realty Tbk PT | 18,758,600 | 515,036 | ||||||
Bank Pan Indonesia Tbk PT (a) | 293,500 | 22,811 | ||||||
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT | 4,456,400 | 666,801 | ||||||
Blue Bird Tbk PT | 735,305 | 153,817 | ||||||
Bumitama Agri, Ltd. | 556,100 | 301,099 | ||||||
Ciputra Development Tbk PT | 11,922,699 | 1,017,554 | ||||||
Delta Dunia Makmur Tbk PT (a) | 1,277,700 | 87,701 | ||||||
Eagle High Plantations Tbk PT (a) | 2,606,900 | 40,900 | ||||||
Gajah Tunggal Tbk PT | 1,995,000 | 117,374 | ||||||
Garuda Indonesia Persero Tbk PT (a) | 10,002,500 | 213,600 | ||||||
Global Mediacom Tbk PT | 3,828,600 | 148,778 | ||||||
Indah Kiat Pulp & Paper Corp. Tbk PT | 2,528,300 | 2,020,069 | ||||||
Indika Energy Tbk PT (a) | 1,010,000 | 258,965 | ||||||
Indo Tambangraya Megah Tbk PT | 586,135 | 1,213,354 |
20
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Intiland Development Tbk PT | 6,201,500 | $ | 148,647 | |||||
Japfa Comfeed Indonesia Tbk PT | 5,801,300 | 623,637 | ||||||
Kawasan Industri Jababeka Tbk PT | 28,707,184 | 546,307 | ||||||
Link Net Tbk PT | 1,811,000 | 687,305 | ||||||
Lippo Cikarang Tbk PT (a) | 514,900 | 115,939 | ||||||
Lippo Karawaci Tbk PT | 12,117,300 | 422,466 | ||||||
Matahari Putra Prima Tbk PT (a) | 2,675,600 | 77,737 | ||||||
Medco Energi Internasional Tbk PT (a) | 9,525,966 | 837,220 | ||||||
Media Nusantara Citra Tbk PT | 7,871,200 | 808,988 | ||||||
Mitra Adiperkasa Tbk PT | 1,011,100 | 571,004 | ||||||
MNC Investama Tbk PT (a) | 12,641,300 | 103,756 | ||||||
Modernland Realty Tbk PT | 6,238,700 | 157,695 | ||||||
Pembangunan Perumahan Persero Tbk PT | 4,435,698 | 840,906 | ||||||
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT | 7,076,800 | 665,659 | ||||||
Siloam International Hospitals Tbk PT (a) | 1,090,743 | 633,807 | ||||||
Summarecon Agung Tbk PT | 8,728,100 | 573,737 | ||||||
Surya Semesta Internusa Tbk PT | 3,428,300 | 136,958 | ||||||
Timah Persero Tbk PT | 4,162,329 | 293,260 | ||||||
Wijaya Karya Persero Tbk PT | 5,467,436 | 667,172 | ||||||
|
| |||||||
17,290,029 | ||||||||
|
| |||||||
MALAYSIA — 5.0% | ||||||||
Aeon Co. M Bhd | 995,900 | 460,874 | ||||||
Alliance Bank Malaysia Bhd | 645,600 | 712,697 | ||||||
Berjaya Corp. Bhd (a) | 4,037,667 | 334,037 | ||||||
Berjaya Sports Toto Bhd | 1,158,458 | 646,915 | ||||||
Bermaz Auto Bhd (a) | 860,760 | 505,151 | ||||||
Bumi Armada Bhd (a) | 3,093,000 | 663,700 | ||||||
Bursa Malaysia Bhd | 490,073 | 1,388,625 | ||||||
Cahya Mata Sarawak Bhd | 582,900 | 580,187 | ||||||
Carlsberg Brewery Malaysia Bhd Class B | 116,000 | 565,605 | ||||||
Datasonic Group Bhd | 1,163,100 | 258,600 | ||||||
DRB-Hicom Bhd | 1,067,100 | 662,110 | ||||||
Eastern & Oriental Bhd | 1,285,152 | 478,443 | ||||||
Evergreen Fibreboard Bhd | 1,606,750 | 195,236 | ||||||
Felda Global Ventures Holdings Bhd | 1,774,400 | 761,506 | ||||||
Gas Malaysia Bhd | 562,900 | 411,843 | ||||||
Heineken Malaysia Bhd | 132,900 | 721,536 | ||||||
Hengyuan Refining Co. Bhd | 66,100 | 129,534 | ||||||
Hibiscus Petroleum Bhd (a) | 251,300 | 53,275 | ||||||
IGB Real Estate Investment Trust | 1,096,900 | 436,718 | ||||||
Inari Amertron Bhd | 1,411,586 | 1,021,831 | ||||||
Karex Bhd | 708,100 | 149,199 | ||||||
KNM Group Bhd (a) | 3,404,806 | 184,852 | ||||||
KPJ Healthcare Bhd | 3,695,672 | 855,126 | ||||||
Lafarge Malaysia Bhd (a) | 252,300 | 279,826 | ||||||
Magnum Bhd | 1,337,100 | 632,599 | ||||||
Malaysia Building Society Bhd | 1,676,000 | 467,963 | ||||||
Malaysian Pacific Industries Bhd | 15,700 | 35,029 | ||||||
Malaysian Resources Corp. Bhd | 2,717,500 | 681,483 | ||||||
Media Prima Bhd | 1,431,900 | 142,524 | ||||||
My EG Services Bhd | 2,818,450 | 2,069,389 |
Security Description | Shares | Value | ||||||
OSK Holdings Bhd | 1,579,850 | $ | 400,272 | |||||
Padini Holdings Bhd | 553,600 | 622,585 | ||||||
Pavilion Real Estate Investment Trust | 1,079,700 | 385,208 | ||||||
Petron Malaysia Refining & Marketing Bhd | 10,800 | 23,873 | ||||||
Pos Malaysia Bhd | 678,700 | 628,166 | ||||||
PureCircle, Ltd. (a) (c) | 58,640 | 302,717 | ||||||
QL Resources Bhd | 418,150 | 541,606 | ||||||
Sime Darby Property Bhd (a) | 2,018,300 | 740,948 | ||||||
SKP Resources Bhd | 223,200 | 91,173 | ||||||
Sunway Real Estate Investment Trust | 2,238,900 | 931,910 | ||||||
TIME dotCom Bhd | 244,000 | 526,101 | ||||||
Top Glove Corp. Bhd | 855,300 | 2,155,940 | ||||||
UEM Sunrise Bhd (a) | 1,112,400 | 286,153 | ||||||
UMW Holdings Bhd (a) | 363,400 | 565,581 | ||||||
UMW Oil & Gas Corp. Bhd (a) | 2,065,915 | 165,572 | ||||||
Unisem M Bhd | 438,300 | 277,620 | ||||||
UOA Development Bhd | 1,533,500 | 959,429 | ||||||
VS Industry Bhd | 1,389,600 | 844,250 | ||||||
WCT Holdings Bhd (a) | 1,372,289 | 471,857 | ||||||
Yinson Holdings Bhd | 700,700 | 681,135 | ||||||
|
| |||||||
28,088,509 | ||||||||
|
| |||||||
MEXICO — 2.0% | ||||||||
Asesor de Activos Prisma SAPI de CV REIT (a) | 403,139 | 268,119 | ||||||
Axtel SAB de CV (a) (c) | 1,709,882 | 383,127 | ||||||
Bolsa Mexicana de Valores SAB de CV | 596,063 | 1,134,425 | ||||||
Concentradora Fibra Hotelera Mexicana SA de CV (b) | 483,658 | 302,858 | ||||||
Concentradora Hipotecaria SAPI de CV REIT | 597,161 | 558,116 | ||||||
Consorcio ARA SAB de CV | 1,908,774 | 747,678 | ||||||
Controladora Vuela Cia de Aviacion SAB de CV Class A (a) (c) | 794,654 | 637,778 | ||||||
Corp. Inmobiliaria Vesta SAB de CV | 420,458 | 621,698 | ||||||
Credito Real SAB de CV SOFOM ER | 275,285 | 393,921 | ||||||
Genomma Lab Internacional SAB de CV Class B (a) | 644,664 | 695,750 | ||||||
Grupo Aeromexico SAB de CV (a) (c) | 172,983 | 274,824 | ||||||
Grupo GICSA SA de CV (a) | 433,675 | 246,138 | ||||||
Hoteles City Express SAB de CV (a) | 349,624 | 474,823 | ||||||
Macquarie Mexico Real Estate Management SA de CV REIT (a) | 685,956 | 767,372 | ||||||
Megacable Holdings SAB de CV | 247,587 | 1,138,953 | ||||||
PLA Administradora Industrial S de RL de CV (a) | 775,568 | 1,284,859 | ||||||
Prologis Property Mexico SA de CV REIT | 388,118 | 739,090 | ||||||
Qualitas Controladora SAB de CV | 184,510 | 508,645 |
21
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
TV Azteca SAB de CV Series CPO (c) | 1,465,962 | $ | 208,006 | |||||
|
| |||||||
11,386,180 | ||||||||
|
| |||||||
MONACO — 0.2% | ||||||||
Costamare, Inc. | 45,373 | 283,128 | ||||||
GasLog, Ltd. | 54,754 | 900,703 | ||||||
Navios Maritime Holdings, Inc. (a) (c) | 96,403 | 86,560 | ||||||
|
| |||||||
1,270,391 | ||||||||
|
| |||||||
PAKISTAN — 1.3% | ||||||||
Attock Refinery, Ltd. | 10,700 | 23,506 | ||||||
Bank Alfalah, Ltd. | 176,500 | 80,266 | ||||||
Bank of Punjab (a) | 272,500 | 23,094 | ||||||
Dawood Hercules Corp., Ltd. | 22,600 | 25,463 | ||||||
DG Khan Cement Co., Ltd. | 693,100 | 984,034 | ||||||
Engro Corp., Ltd. | 249,000 | 670,488 | ||||||
Engro Fertilizers, Ltd. | 513,500 | 309,613 | ||||||
Fauji Cement Co., Ltd. | 95,000 | 24,186 | ||||||
Fauji Fertilizer Bin Qasim, Ltd. | 73,000 | 26,562 | ||||||
Fauji Fertilizer Co., Ltd. | 293,500 | 237,954 | ||||||
Hascol Petroleum, Ltd. | 21,700 | 50,358 | ||||||
Honda Atlas Cars Pakistan, Ltd. | 14,650 | 59,873 | ||||||
Hub Power Co. Ltd. | 77,500 | 67,910 | ||||||
K-Electric, Ltd. (a) | 500,000 | 30,286 | ||||||
Kot Addu Power Co., Ltd. | 173,500 | 97,485 | ||||||
Lucky Cement, Ltd. | 158,700 | 946,699 | ||||||
Maple Leaf Cement Factory, Ltd. | 593,900 | 371,573 | ||||||
Mari Petroleum Co., Ltd. | 3,680 | 46,575 | ||||||
Millat Tractors, Ltd. | 12,340 | 136,297 | ||||||
National Bank of Pakistan | 163,000 | 71,514 | ||||||
National Refinery, Ltd. | 16,200 | 60,075 | ||||||
Pak Elektron, Ltd. | 171,500 | 69,952 | ||||||
PAK Suzuki Motor Co., Ltd. | 15,600 | 64,580 | ||||||
Pakistan Oilfields, Ltd. | 65,900 | 369,543 | ||||||
Pakistan State Oil Co., Ltd. | 405,798 | 1,134,757 | ||||||
Pakistan Stock Exchange, Ltd. | 399,000 | 90,069 | ||||||
Searle Co. Ltd. | 17,300 | 52,609 | ||||||
SUI Northern Gas Pipeline | 811,400 | 787,283 | ||||||
Thal, Ltd. | 17,150 | 76,976 | ||||||
TRG Pakistan (a) | 250,000 | 82,756 | ||||||
|
| |||||||
7,072,336 | ||||||||
|
| |||||||
PERU — 0.6% | ||||||||
Ferreycorp SAA | 1,893,991 | 1,490,800 | ||||||
Grana y Montero SAA (a) | 356,171 | 210,814 | ||||||
InRetail Peru Corp. (b) | 38,326 | 852,754 | ||||||
Volcan Cia Minera SAA Class B | 2,040,258 | 758,707 | ||||||
|
| |||||||
3,313,075 | ||||||||
|
| |||||||
PHILIPPINES — 1.2% | ||||||||
Belle Corp. | 3,615,400 | 257,067 | ||||||
Cebu Air, Inc. | 446,418 | 809,375 | ||||||
CEMEX Holdings Philippines, Inc. (a) (b) | 4,288,105 | 299,146 | ||||||
Cosco Capital, Inc. | 5,914,200 | 838,773 | ||||||
D&L Industries, Inc. | 5,279,500 | 1,169,681 | ||||||
First Gen Corp. | 1,562,200 | 508,982 | ||||||
First Philippine Holdings Corp. | 371,250 | 469,599 |
Security Description | Shares | Value | ||||||
MacroAsia Corp. | 147,900 | $ | 74,407 | |||||
Manila Water Co., Inc. | 1,087,300 | 579,310 | ||||||
Melco Resorts And Entertainment Philippines Corp. (a) | 306,800 | 45,863 | ||||||
Nickel Asia Corp. | 3,918,600 | 458,118 | ||||||
Philex Mining Corp. | 1,532,900 | 178,916 | ||||||
Rizal Commercial Banking Corp. | 582,020 | 509,208 | ||||||
Robinsons Land Corp. | 1,597,171 | 610,370 | ||||||
SM Prime Holdings, Inc. | 1 | 1 | ||||||
|
| |||||||
6,808,816 | ||||||||
|
| |||||||
POLAND — 2.0% | ||||||||
Alumetal SA | 12,993 | 208,628 | ||||||
Asseco Poland SA | 95,737 | 1,257,748 | ||||||
Boryszew SA (a) | 90,651 | 242,950 | ||||||
Ciech SA (a) | 55,424 | 954,666 | ||||||
Dino Polska SA (a) (b) | 43,412 | 1,100,731 | ||||||
Emperia Holding SA (a) | 28,521 | 832,657 | ||||||
Enea SA | 137,357 | 369,729 | ||||||
Energa SA | 196,807 | 553,310 | ||||||
Eurocash SA | 90,142 | 618,438 | ||||||
Getin Noble Bank SA (a) | 345,883 | 136,321 | ||||||
Globe Trade Centre SA | 392,428 | 1,047,147 | ||||||
Grupa Azoty SA | 44,199 | 722,606 | ||||||
Grupa Kety SA | 8,882 | 889,419 | ||||||
KRUK SA | 15,685 | 998,257 | ||||||
Lubelski Wegiel Bogdanka SA | 11,000 | 149,972 | ||||||
Netia SA | 397,418 | 616,089 | ||||||
PKP Cargo SA (a) | 18,221 | 221,293 | ||||||
|
| |||||||
10,919,961 | ||||||||
|
| |||||||
QATAR — 0.5% | ||||||||
Al Meera Consumer Goods Co. QSC | 12,980 | 506,084 | ||||||
Gulf Warehousing Co. | 17,783 | 197,752 | ||||||
Medicare Group | 17,908 | 337,213 | ||||||
Qatar First Bank (a) | 284,361 | 498,139 | ||||||
Salam International Investment, Ltd. QSC (a) | 93,936 | 149,854 | ||||||
Vodafone Qatar QSC (a) | 449,170 | 1,071,743 | ||||||
|
| |||||||
2,760,785 | ||||||||
|
| |||||||
RUSSIA — 0.9% | ||||||||
Etalon Group PLC GDR | 118,906 | 362,664 | ||||||
Globaltrans Investment PLC GDR | 111,827 | 1,326,268 | ||||||
LSR Group PJSC GDR | 216,646 | 693,267 | ||||||
M Video PJSC | 50,000 | 358,261 | ||||||
QIWI PLC ADR (c) | 41,883 | 800,384 | ||||||
Ros Agro PLC GDR | 44,770 | 463,817 | ||||||
Sistema PJSC FC GDR | 151,320 | 611,333 | ||||||
TMK PJSC GDR | 83,864 | 472,993 | ||||||
|
| |||||||
5,088,987 | ||||||||
|
| |||||||
SINGAPORE — 0.3% | ||||||||
Asian Pay Television Trust | 1,545,800 | 624,780 | ||||||
SIIC Environment Holdings, Ltd. | 1,175,560 | 416,865 | ||||||
Silverlake Axis, Ltd. | 952,800 | 388,735 | ||||||
|
| |||||||
1,430,380 | ||||||||
|
|
22
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SOUTH AFRICA — 5.6% | ||||||||
Adcock Ingram Holdings, Ltd. | 203,828 | $ | 1,219,312 | |||||
Advtech, Ltd. | 483,007 | 644,485 | ||||||
AECI, Ltd. | 94,440 | 920,588 | ||||||
African Rainbow Minerals, Ltd. | 71,051 | 608,045 | ||||||
Alexander Forbes Group Holdings, Ltd. | 874,583 | 531,448 | ||||||
ArcelorMittal South Africa, Ltd. (a) | 274,850 | 61,471 | ||||||
Arrowhead Properties, Ltd. Class A, REIT | 1,238,438 | 758,819 | ||||||
Ascendis Health, Ltd. | 115,594 | 96,680 | ||||||
Astral Foods, Ltd. | 1,944 | 51,324 | ||||||
Attacq, Ltd. (a) | 510,255 | 850,084 | ||||||
Aveng, Ltd. (a) | 390,579 | 32,964 | ||||||
Balwin Properties, Ltd. | 276,567 | 143,550 | ||||||
Blue Label Telecoms, Ltd. | 445,991 | 485,560 | ||||||
Cashbuild, Ltd. | 1,062 | 43,310 | ||||||
Coronation Fund Managers, Ltd. | 210,012 | 1,431,068 | ||||||
Curro Holdings, Ltd. (a) (c) | 199,573 | 537,135 | ||||||
DataTec, Ltd. | 311,055 | 546,044 | ||||||
Dis-Chem Pharmacies, Ltd. (b) | 111,500 | 324,655 | ||||||
Emira Property Fund, Ltd. REIT | 671,966 | 881,871 | ||||||
EOH Holdings, Ltd. | 112,795 | 409,341 | ||||||
Famous Brands, Ltd. (a) (c) | 72,875 | 689,403 | ||||||
Grindrod, Ltd. (a) | 529,298 | 614,676 | ||||||
Harmony Gold Mining Co., Ltd. | 296,140 | 703,063 | ||||||
Hosken Consolidated Investments, Ltd. | 113,266 | 1,376,542 | ||||||
JSE, Ltd. | 111,331 | 1,741,363 | ||||||
KAP Industrial Holdings, Ltd. | 1,380,838 | 1,002,233 | ||||||
Lewis Group, Ltd. | 200,456 | 713,936 | ||||||
Montauk Holdings, Ltd. | 1 | 5 | ||||||
Mpact, Ltd. | 237,357 | 580,935 | ||||||
Murray & Roberts Holdings, Ltd. | 368,376 | 429,040 | ||||||
Nampak, Ltd. (a) | 550,973 | 706,808 | ||||||
Net 1 UEPS Technologies, Inc. (a) (c) | 66,707 | 631,048 | ||||||
Northam Platinum, Ltd. (a) | 356,564 | 1,093,578 | ||||||
Omnia Holdings, Ltd. | 61,121 | 768,607 | ||||||
PPC, Ltd. (a) | 1,430,722 | 947,878 | ||||||
Reunert, Ltd. | 253,706 | 1,594,769 | ||||||
SA Corporate Real Estate, Ltd. REIT | 2,886,087 | 1,188,657 | ||||||
Stadio Holdings, Ltd. (a) (c) | 191,572 | 92,805 | ||||||
Sun International, Ltd. (a) | 117,689 | 568,642 | ||||||
Super Group, Ltd. (a) | 423,084 | 1,289,739 | ||||||
Tongaat Hulett, Ltd. | 101,935 | 874,497 | ||||||
Trencor, Ltd. | 107,758 | 343,771 | ||||||
Tsogo Sun Holdings, Ltd. | 222,997 | 439,078 | ||||||
Vukile Property Fund, Ltd. REIT | 677,498 | 1,251,073 | ||||||
Wilson Bayly Holmes-Ovcon, Ltd. | 90,361 | 1,182,138 | ||||||
|
| |||||||
31,402,038 | ||||||||
|
| |||||||
TAIWAN — 29.0% | ||||||||
Ability Enterprise Co., Ltd. | 334,141 | 222,325 | ||||||
AcBel Polytech, Inc. | 901,000 | 635,029 | ||||||
Accton Technology Corp. | 487,341 | 1,587,866 | ||||||
Acer, Inc. (a) | 2,343,000 | 1,944,665 |
Security Description | Shares | Value | ||||||
A-DATA Technology Co., Ltd. | 241,652 | $ | 624,912 | |||||
Adlink Technology, Inc. | 167,625 | 349,542 | ||||||
Advanced Ceramic X Corp. | 57,642 | 535,754 | ||||||
Advanced Wireless Semiconductor Co. | 34,000 | 72,182 | ||||||
AGV Products Corp. (a) | 1,828,414 | 466,557 | ||||||
Alpha Networks, Inc. | 446,513 | 356,818 | ||||||
Altek Corp. | 209,516 | 210,903 | ||||||
AmTRAN Technology Co., Ltd. | 904,717 | 440,614 | ||||||
Arcadyan Technology Corp. | 208,172 | 381,260 | ||||||
Ardentec Corp. | 104,000 | 134,472 | ||||||
Asia Optical Co., Inc. | 208,540 | 736,688 | ||||||
Asia Polymer Corp. | 878,028 | 540,543 | ||||||
ASPEED Technology, Inc. | 17,000 | 529,993 | ||||||
Aten International Co., Ltd. | 213,000 | 693,271 | ||||||
Basso Industry Corp. | 110,800 | 197,606 | ||||||
BES Engineering Corp. | 2,791,356 | 767,798 | ||||||
Bizlink Holding, Inc. | 92,764 | 769,931 | ||||||
Capital Securities Corp. | 2,057,730 | 786,902 | ||||||
Career Technology MFG. Co., Ltd. | 429,060 | 612,901 | ||||||
Casetek Holdings, Ltd. | 135,820 | 398,744 | ||||||
Cathay Real Estate Development Co., Ltd. | 847,332 | 450,446 | ||||||
Center Laboratories, Inc. (a) | 289,527 | 607,712 | ||||||
Chang Wah Electromaterials, Inc. | 76,419 | 391,832 | ||||||
Charoen Pokphand Enterprise | 339,675 | 761,901 | ||||||
Cheng Loong Corp. | 1,221,128 | 680,568 | ||||||
Cheng Uei Precision Industry Co., Ltd. | 388,915 | 544,217 | ||||||
Chicony Electronics Co., Ltd. | 469,310 | 1,192,711 | ||||||
Chilisin Electronics Corp. | 66,000 | 235,415 | ||||||
China Bills Finance Corp. | 960,394 | 494,081 | ||||||
China Chemical & Pharmaceutical Co., Ltd. | 652,000 | 442,762 | ||||||
China Man-Made Fiber Corp. (a) | 1,957,899 | 637,927 | ||||||
China Motor Corp. | 781,000 | 735,276 | ||||||
China Petrochemical Development Corp. (a) | 2,128,575 | 916,199 | ||||||
China Steel Chemical Corp. | 173,000 | 901,876 | ||||||
China Synthetic Rubber Corp. | 546,373 | 899,472 | ||||||
Chin-Poon Industrial Co., Ltd. | 304,000 | 544,254 | ||||||
Chipbond Technology Corp. | 685,000 | 1,609,305 | ||||||
Chong Hong Construction Co., Ltd. | 263,275 | 762,998 | ||||||
Chroma ATE, Inc. | 326,680 | 2,011,149 | ||||||
Chung Hung Steel Corp. (a) | 720,239 | 285,309 | ||||||
Clevo Co. | 522,265 | 531,096 | ||||||
CMC Magnetics Corp. (a) | 1,211,788 | 189,933 | ||||||
Compeq Manufacturing Co., Ltd. | 999,000 | 1,027,884 | ||||||
Coremax Corp. | 6,000 | 26,237 | ||||||
Coretronic Corp. | 451,652 | 670,732 | ||||||
Crown Bioscience International | 23,000 | 57,900 | ||||||
CTCI Corp. | 664,000 | 1,081,730 | ||||||
Cub Elecparts, Inc. | 61,000 | 850,448 | ||||||
CyberTAN Technology, Inc. | 508,210 | 324,200 | ||||||
Darwin Precisions Corp. | 376,576 | 331,281 | ||||||
D-Link Corp. | 973,054 | 382,120 |
23
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Dynapack International Technology Corp. | 169,000 | $ | 242,861 | |||||
E Ink Holdings, Inc. | 704,000 | 1,165,003 | ||||||
Elan Microelectronics Corp. | 522,899 | 793,575 | ||||||
Elite Advanced Laser Corp. | 6,000 | 22,945 | ||||||
Elite Material Co., Ltd. | 279,782 | 918,309 | ||||||
Elite Semiconductor Memory Technology, Inc. | 298,674 | 455,842 | ||||||
eMemory Technology, Inc. | 73,000 | 876,290 | ||||||
Ennoconn Corp. | 38,000 | 624,275 | ||||||
Epistar Corp. (a) | 919,572 | 1,313,584 | ||||||
Eternal Materials Co., Ltd. | 1,030,659 | 1,035,714 | ||||||
Everlight Chemical Industrial Corp. | 541,304 | 328,603 | ||||||
Everlight Electronics Co., Ltd. | 626,503 | 962,628 | ||||||
Excelsior Medical Co., Ltd. | 164,403 | 272,624 | ||||||
Far Eastern Department Stores, Ltd. | 851,490 | 474,559 | ||||||
Far Eastern International Bank | 3,329,096 | 1,116,664 | ||||||
Faraday Technology Corp. | 273,385 | 650,716 | ||||||
Farglory Land Development Co., Ltd. | 222,464 | 250,641 | ||||||
Feng Hsin Steel Co., Ltd. | 461,270 | 927,065 | ||||||
Firich Enterprises Co., Ltd. (a) | 192,792 | 308,129 | ||||||
FLEXium Interconnect, Inc. | 272,099 | 932,287 | ||||||
Formosa Taffeta Co., Ltd. | 951,000 | 1,046,990 | ||||||
Formosan Rubber Group, Inc. | 345,610 | 177,801 | ||||||
Gamania Digital Entertainment Co., Ltd. (a) | 38,000 | 98,268 | ||||||
Gemtek Technology Corp. | 437,234 | 404,888 | ||||||
Genius Electronic Optical Co., Ltd. (a) | 62,000 | 645,368 | ||||||
GeoVision, Inc. | 180,631 | 180,897 | ||||||
Giant Manufacturing Co., Ltd. | 206,000 | 1,080,975 | ||||||
Gigabyte Technology Co., Ltd. | 495,000 | 1,152,742 | ||||||
Gigastorage Corp. (a) | 391,114 | 201,211 | ||||||
Ginko International Co., Ltd. | 39,000 | 289,587 | ||||||
Gintech Energy Corp. (a) | 477,275 | 258,632 | ||||||
Global Unichip Corp. | 88,669 | 970,107 | ||||||
Gloria Material Technology Corp. | 546,909 | 372,334 | ||||||
Goldsun Building Materials Co., Ltd. (a) | 1,805,041 | 580,694 | ||||||
Gourmet Master Co., Ltd. | 81,200 | 1,055,486 | ||||||
Grand Pacific Petrochemical | 851,000 | 890,198 | ||||||
Grape King Bio, Ltd. | 109,000 | 957,026 | ||||||
Great Wall Enterprise Co., Ltd. | 855,867 | 1,014,172 | ||||||
HannStar Display Corp. | 2,242,599 | 772,992 | ||||||
HannsTouch Solution, Inc. (a) | 631,511 | 172,622 | ||||||
Hey Song Corp. | 295,770 | 315,480 | ||||||
Highwealth Construction Corp. | 745,730 | 1,148,379 | ||||||
Himax Technologies, Inc. ADR (c) | 101,167 | 623,189 | ||||||
Ho Tung Chemical Corp. (a) | 1,561,351 | 455,173 | ||||||
Holy Stone Enterprise Co., Ltd. | 58,000 | 258,600 | ||||||
Hota Industrial Manufacturing Co., Ltd. | 208,680 | 887,482 | ||||||
HTC Corp. (a) | 557,000 | 1,266,560 | ||||||
Huaku Development Co., Ltd. | 307,260 | 757,691 | ||||||
Huang Hsiang Construction Corp. | 294,484 | 297,443 | ||||||
Ibase Technology, Inc. | 350,817 | 550,464 |
Security Description | Shares | Value | ||||||
Ichia Technologies, Inc. (a) | 358,000 | $ | 205,662 | |||||
Iron Force Industrial Co., Ltd. | 81,000 | 274,195 | ||||||
ITE Technology, Inc. | 525,887 | 691,696 | ||||||
Jess-Link Products Co., Ltd. | 193,230 | 194,178 | ||||||
Jhen Vei Electronic Co., Ltd. (a) | 39,000 | 22,873 | ||||||
Jih Sun Financial Holdings Co., Ltd. | 1,836,422 | 533,474 | ||||||
KEE TAI Properties Co., Ltd. | 972,076 | 341,729 | ||||||
Kenda Rubber Industrial Co., Ltd. | 692,247 | 870,146 | ||||||
Kerry TJ Logistics Co., Ltd. | 227,000 | 294,679 | ||||||
King Slide Works Co., Ltd. | 60,000 | 841,650 | ||||||
King Yuan Electronics Co., Ltd. | 1,172,656 | 1,216,615 | ||||||
Kingpak Technology, Inc. | 6,000 | 47,947 | ||||||
King’s Town Bank Co., Ltd. | 1,174,000 | 1,485,770 | ||||||
Kinpo Electronics | 1,832,371 | 647,303 | ||||||
Kinsus Interconnect Technology Corp. | 314,030 | 600,983 | ||||||
Kuoyang Construction Co., Ltd. (a) | 850,527 | 482,773 | ||||||
Land Mark Optoelectronics Corp. | 20,000 | 260,658 | ||||||
LCY Chemical Corp. | 712,862 | 1,083,094 | ||||||
Lextar Electronics Corp. (a) | 46,000 | 32,894 | ||||||
Lien Hwa Industrial Corp. | 756,000 | 972,322 | ||||||
Lingsen Precision Industries, Ltd. | 784,694 | 356,593 | ||||||
Lite-On Semiconductor Corp. | 26,000 | 37,542 | ||||||
Long Chen Paper Co., Ltd. | 605,000 | 680,591 | ||||||
Longwell Co. | 224,000 | 376,445 | ||||||
Lotes Co., Ltd. | 73,000 | 537,041 | ||||||
Lumax International Corp., Ltd. | 181,322 | 357,582 | ||||||
Lung Yen Life Service Corp. | 190,000 | 411,188 | ||||||
Machvision, Inc. | 6,000 | 61,941 | ||||||
Makalot Industrial Co., Ltd. | 160,070 | 754,866 | ||||||
Masterlink Securities Corp. | 1,520,329 | 481,800 | ||||||
Medigen Biotechnology Corp. (a) | 193,000 | 258,154 | ||||||
Mercuries & Associates Holding, Ltd. | 563,978 | 486,471 | ||||||
Merida Industry Co., Ltd. | 204,000 | 958,535 | ||||||
Merry Electronics Co., Ltd. | 161,000 | 922,146 | ||||||
Microbio Co., Ltd. (a) | 511,723 | 383,481 | ||||||
Micro-Star International Co., Ltd. | 578,000 | 1,936,777 | ||||||
MIN AIK Technology Co., Ltd. | 200,800 | 160,808 | ||||||
Mirle Automation Corp. | 297,331 | 458,891 | ||||||
Mitac Holdings Corp. | 731,412 | 844,120 | ||||||
Motech Industries, Inc. (a) | 438,728 | 343,074 | ||||||
Nan Kang Rubber Tire Co., Ltd. | 811,204 | 712,241 | ||||||
Nantex Industry Co., Ltd. | 670,004 | 540,011 | ||||||
Neo Solar Power Corp. (a) | 982,758 | 436,489 | ||||||
OBI Pharma, Inc. (a) | 119,000 | 746,888 | ||||||
On-Bright Electronics, Inc. | 4,000 | 43,489 | ||||||
OptoTech Corp. | 45,000 | 35,497 | ||||||
Oriental Union Chemical Corp. | 701,500 | 715,767 | ||||||
Pan Jit International, Inc. | 86,000 | 142,611 | ||||||
Pan-International Industrial Corp. | 491,539 | 375,098 | ||||||
Parade Technologies, Ltd. | 63,000 | 1,227,287 | ||||||
PChome Online, Inc. | 85,670 | 473,055 | ||||||
PharmaEngine, Inc. | 104,197 | 514,606 | ||||||
Phytohealth Corp. (a) | 452,511 | 380,235 | ||||||
Pixart Imaging, Inc. | 106,060 | 452,875 |
24
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Polaris Group/Tw (a) | 48,000 | $ | 99,039 | |||||
Poya International Co., Ltd. | 46,300 | 581,191 | ||||||
President Securities Corp. (a) | 1,336,943 | 674,043 | ||||||
Primax Electronics, Ltd. | 405,000 | 894,536 | ||||||
Prince Housing & Development Corp. | 1,786,996 | 726,272 | ||||||
Promate Electronic Co., Ltd. | 375,000 | 368,479 | ||||||
Qisda Corp. | 1,434,641 | 1,062,806 | ||||||
Radiant Opto-Electronics Corp. | 474,331 | 1,163,174 | ||||||
Radium Life Tech Co., Ltd. (a) | 938,810 | 367,062 | ||||||
Realtek Semiconductor Corp. | 440,053 | 1,894,113 | ||||||
Ritek Corp. (a) | 1,867,045 | 345,785 | ||||||
Ruentex Development Co., Ltd. (a) | 788,000 | 926,995 | ||||||
Ruentex Industries, Ltd. (a) | 520,000 | 1,004,081 | ||||||
Sampo Corp. | 845,527 | 404,538 | ||||||
Sanyang Motor Co., Ltd. | 812,945 | 599,455 | ||||||
ScinoPharm Taiwan, Ltd. | 499,500 | 580,754 | ||||||
SDI Corp. | 54,000 | 154,831 | ||||||
Senao International Co., Ltd. | 164,911 | 295,807 | ||||||
Sercomm Corp. | 235,000 | 643,173 | ||||||
Shin Kong No.1 REIT | 459,000 | 231,885 | ||||||
Shinkong Insurance Co., Ltd. | 397,841 | 416,848 | ||||||
Shinkong Synthetic Fibers Corp. | 2,516,796 | 829,523 | ||||||
ShunSin Technology Holding, Ltd. | 5,000 | 25,380 | ||||||
Shuttle, Inc. | 73,000 | 44,440 | ||||||
Sigurd Microelectronics Corp. | 894,694 | 1,120,017 | ||||||
Silicon Integrated Systems Corp. (a) | 918,299 | 309,596 | ||||||
Silicon Motion Technology Corp. ADR | 31,543 | 1,517,849 | ||||||
Simplo Technology Co., Ltd. | 115,277 | 733,405 | ||||||
Sinbon Electronics Co., Ltd. | 334,444 | 878,637 | ||||||
Sinmag Equipment Corp. | 72,726 | 407,816 | ||||||
Sino-American Silicon Products, Inc. (a) | 425,058 | 1,567,162 | ||||||
Sinon Corp. | 844,662 | 496,826 | ||||||
Sinphar Pharmaceutical Co., Ltd. | 415,879 | 339,470 | ||||||
Sinyi Realty, Inc. | 627,611 | 932,042 | ||||||
Soft-World International Corp. | 101,848 | 265,125 | ||||||
Solartech Energy Corp. (a) | 426,207 | 198,800 | ||||||
St Shine Optical Co., Ltd. | 37,000 | 1,084,988 | ||||||
Sunny Friend Environmental Technology Co., Ltd. | 12,000 | 92,396 | ||||||
Sunonwealth Electric Machine Industry Co., Ltd. | 20,000 | 30,902 | ||||||
Synnex Technology International Corp. | 1,077,000 | 1,606,801 | ||||||
Systex Corp. | 293,000 | 640,124 | ||||||
Taichung Commercial Bank Co., Ltd. | 2,661,405 | 931,040 | ||||||
Taiflex Scientific Co., Ltd. | 313,699 | 461,559 | ||||||
Taimide Tech, Inc. | 31,000 | 80,910 | ||||||
Tainan Enterprises Co., Ltd. | 316,000 | 254,148 | ||||||
Tainan Spinning Co., Ltd. | 1,624,105 | 729,697 | ||||||
Taisun Enterprise Co., Ltd. (a) | 740,549 | 436,857 | ||||||
Taiwan Business Bank | 4,282,648 | 1,277,876 | ||||||
Taiwan Cogeneration Corp. | 709,469 | 658,200 | ||||||
Taiwan Fertilizer Co., Ltd. | 658,000 | 872,233 |
Security Description | Shares | Value | ||||||
Taiwan Glass Industry Corp. (a) | 944,000 | $ | 555,256 | |||||
Taiwan Hon Chuan Enterprise Co., Ltd. | 404,218 | 776,356 | ||||||
Taiwan Land Development Corp. (a) | 869,781 | 286,079 | ||||||
Taiwan Paiho, Ltd. | 214,000 | 595,240 | ||||||
Taiwan Secom Co., Ltd. | 315,961 | 976,372 | ||||||
Taiwan Semiconductor Co., Ltd. | 58,000 | 155,160 | ||||||
Taiwan Surface Mounting Technology Corp. | 562,308 | 538,066 | ||||||
Taiwan Union Technology Corp. | 224,000 | 707,563 | ||||||
Taiyen Biotech Co., Ltd. | 386,979 | 374,277 | ||||||
Tatung Co., Ltd. (a) | 1,658,691 | 1,200,342 | ||||||
TCI Co., Ltd. | 23,000 | 322,633 | ||||||
Teco Electric and Machinery Co., Ltd. | 1,773,000 | 1,462,450 | ||||||
Test Rite International Co., Ltd. | 496,896 | 400,489 | ||||||
Thye Ming Industrial Co., Ltd. | 288,218 | 397,378 | ||||||
Ton Yi Industrial Corp. | 725,000 | 323,250 | ||||||
Tong Hsing Electronic Industries, Ltd. | 141,327 | 601,041 | ||||||
Tong Yang Industry Co., Ltd. | 412,872 | 740,584 | ||||||
Topco Scientific Co., Ltd. | 299,299 | 867,399 | ||||||
TPK Holding Co., Ltd. (a) | 229,000 | 568,632 | ||||||
Transcend Information, Inc. | 206,484 | 609,035 | ||||||
Tripod Technology Corp. | 427,353 | 1,437,848 | ||||||
TSRC Corp. | 691,028 | 705,082 | ||||||
TTY Biopharm Co., Ltd. | 222,436 | 755,262 | ||||||
Tung Ho Steel Enterprise Corp. | 677,258 | 570,247 | ||||||
Tung Thih Electronic Co., Ltd. | 38,893 | 166,073 | ||||||
TXC Corp. | 470,120 | 631,245 | ||||||
U-Ming Marine Transport Corp. | 437,000 | 522,326 | ||||||
Unimicron Technology Corp. | 1,221,000 | 789,376 | ||||||
Unitech Printed Circuit Board Corp. (a) | 162,000 | 112,789 | ||||||
Unity Opto Technology Co., Ltd. (a) | 701,307 | 233,553 | ||||||
Unizyx Holding Corp. | 526,694 | 254,703 | ||||||
UPC Technology Corp. | 899,536 | 580,007 | ||||||
USI Corp. | 1,512,344 | 754,694 | ||||||
Visual Photonics Epitaxy Co., Ltd. | 197,371 | 761,541 | ||||||
Voltronic Power Technology Corp. | 42,000 | 813,870 | ||||||
Wafer Works Corp. (a) | 491,872 | 767,575 | ||||||
Walsin Lihwa Corp. | 2,550,000 | 1,556,745 | ||||||
Walsin Technology Corp. | 282,000 | 1,146,106 | ||||||
Wan Hai Lines, Ltd. | 1,064,320 | 653,405 | ||||||
Waterland Financial Holdings Co., Ltd. | 2,228,547 | 779,613 | ||||||
Wei Chuan Foods Corp. (a) | 618,899 | 513,680 | ||||||
Wistron NeWeb Corp. | 268,872 | 704,524 | ||||||
WT Microelectronics Co., Ltd. | 486,090 | 785,226 | ||||||
WUS Printed Circuit Co., Ltd. | 360,750 | 210,335 | ||||||
XinTec, Inc. (a) | 80,000 | 183,832 | ||||||
Yang Ming Marine Transport Corp. (a) | 627,970 | 223,990 | ||||||
Yeong Guan Energy Technology Group Co., Ltd. | 92,000 | 271,359 | ||||||
YFY, Inc. (a) | 1,778,941 | 790,112 | ||||||
Yieh Phui Enterprise Co., Ltd. | 1,223,079 | 453,039 |
25
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Yulon Finance Corp. | 220,000 | $ | 916,761 | |||||
Yungtay Engineering Co., Ltd. | 397,000 | 750,238 | ||||||
Zenitron Corp. | 421,348 | 330,928 | ||||||
Zhen Ding Technology Holding, Ltd. | 452,000 | 1,082,059 | ||||||
Zinwell Corp. | 524,674 | 492,157 | ||||||
|
| |||||||
162,253,436 | ||||||||
|
| |||||||
THAILAND — 5.8% | ||||||||
Bangkok Chain Hospital PCL NVDR | 1,952,000 | 1,054,966 | ||||||
Bangkok Land PCL NVDR | 15,170,300 | 892,656 | ||||||
Beauty Community PCL (f) | 2,432,400 | 1,656,863 | ||||||
BEC World PCL NVDR | 1,075,400 | 433,324 | ||||||
Carabao Group PCL Class F (f) | 434,162 | 860,826 | ||||||
Central Plaza Hotel PCL NVDR | 820,002 | 1,258,717 | ||||||
Chularat Hospital PCL NVDR | 7,739,000 | 462,806 | ||||||
CPN Retail Growth Leasehold REIT (f) | 1,420,400 | 1,022,034 | ||||||
Dynasty Ceramic PCL NVDR | 3,975,420 | 376,311 | ||||||
Esso Thailand PCL NVDR (a) | 1,459,367 | 826,057 | ||||||
GFPT PCL (f) | 305,100 | 130,743 | ||||||
Global Power Synergy PCL NVDR | 66,100 | 159,595 | ||||||
Group Lease PCL NVDR | 799,079 | 196,767 | ||||||
Gunkul Engineering PCL NVDR | 6,478,370 | 729,257 | ||||||
Hana Microelectronics PCL (f) | 806,657 | 838,387 | ||||||
Ichitan Group PCL NVDR (a) | 1,516,500 | 390,401 | ||||||
Inter Far East Energy Corp. NVDR (a) (d) | 283,900 | — | ||||||
International Engineering PCL (a) (d) | 127,711,868 | — | ||||||
Jasmine International PCL NVDR | 2,889,825 | 568,354 | ||||||
KCE Electronics PCL NVDR | 398,000 | 852,766 | ||||||
Kiatnakin Bank PCL NVDR | 510,500 | 1,175,440 | ||||||
Krungthai Card PCL (f) | 46,800 | 481,919 | ||||||
LPN Development PCL NVDR | 906,700 | 298,657 | ||||||
Major Cineplex Group PCL NVDR | 1,074,300 | 979,135 | ||||||
MK Restaurants Group PCL NVDR | 452,731 | 1,071,381 | ||||||
Precious Shipping PCL (a) (f) | 616,400 | 230,633 | ||||||
Pruksa Holding PCL NVDR | 1,352,531 | 938,597 | ||||||
PTG Energy PCL NVDR | 797,700 | 415,814 | ||||||
Robinson PCL NVDR | 647,200 | 1,293,572 | ||||||
RS PCL (a) (f) | 56,800 | 52,677 | ||||||
Siam Global House PCL NVDR | 1,856,476 | 926,160 | ||||||
Sino-Thai Engineering & Construction PCL NVDR | 1,292,700 | 773,057 | ||||||
Sri Trang Agro-Industry PCL NVDR | 1,017,180 | 357,818 | ||||||
Srisawad Corp. PCL NVDR | 730,309 | 1,424,651 | ||||||
Supalai PCL NVDR | 1,076,600 | 753,999 | ||||||
Tesco Lotus Retail Growth Freehold & Leasehold Property Fund | 1,870,000 | 1,070,451 | ||||||
Thai Airways International PCL NVDR (a) | 893,600 | 437,227 | ||||||
Thai Vegetable Oil PCL NVDR | 470,000 | 514,791 |
Security Description | Shares | Value | ||||||
Thaicom PCL NVDR | 701,800 | $ | 267,075 | |||||
Thoresen Thai Agencies PCL (f) | 3,193,706 | 817,066 | ||||||
Tipco Asphalt PCL NVDR | 965,400 | 527,929 | ||||||
Tisco Financial Group PCL (f) | 323,103 | 909,276 | ||||||
TPI Polene PCL (f) | 1,043,400 | 57,058 | ||||||
TPI Polene Power PCL NVDR | 4,488,600 | 990,449 | ||||||
TTW PCL (f) | 1,718,900 | 659,635 | ||||||
VGI Global Media PCL NVDR | 3,996,012 | 1,003,156 | ||||||
WHA Corp. PCL NVDR | 9,953,630 | 1,203,221 | ||||||
|
| |||||||
32,341,674 | ||||||||
|
| |||||||
TURKEY — 1.6% | ||||||||
Afyon Cimento Sanayi TAS (a) | 315,285 | 574,635 | ||||||
AKIS Gayrimenkul Yatirimi A/S REIT | 329,458 | 272,788 | ||||||
Albaraka Turk Katilim Bankasi A/S | 1,705,748 | 676,030 | ||||||
Aygaz A/S | 126,782 | 466,623 | ||||||
Bera Holding A/S (a) | 210,995 | 156,060 | ||||||
Dogan Sirketler Grubu Holding A/S (a) (c) | 1,037,907 | 348,467 | ||||||
Ihlas Holding A/S (a) | 1,140,954 | 144,009 | ||||||
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class D (a) | 1,291,343 | 1,297,406 | ||||||
Koza Altin Isletmeleri A/S (a) | 69,825 | 716,687 | ||||||
Koza Anadolu Metal Madencilik Isletmeleri A/S (a) | 186,303 | 291,583 | ||||||
Migros Ticaret A/S (a) | 125,115 | 748,530 | ||||||
NET Holding A/S (a) | 291,043 | 164,572 | ||||||
Pegasus Hava Tasimaciligi A/S (a) | 42,706 | 385,727 | ||||||
Tekfen Holding A/S | 258,859 | 1,110,871 | ||||||
Torunlar Gayrimenkul Yatirim Ortakligi A/S REIT | 417,489 | 304,575 | ||||||
Turkiye Sinai Kalkinma Bankasi A/S | 1,933,748 | 741,984 | ||||||
Yazicilar Holding A/S Class A | 95,845 | 570,028 | ||||||
|
| |||||||
8,970,575 | ||||||||
|
| |||||||
UNITED ARAB EMIRATES — 0.7% |
| |||||||
Air Arabia PJSC | 1,834,393 | 569,346 | ||||||
Ajman Bank PJSC (f) | 592,627 | 163,767 | ||||||
Al Waha Capital PJSC | 1,110,280 | 658,974 | ||||||
Arabtec Holding PJSC (a) | 787,143 | 477,901 | ||||||
Dana Gas PJSC (a) | 3,003,693 | 752,354 | ||||||
DXB Entertainments PJSC (a) | 2,832,681 | 374,812 | ||||||
Eshraq Properties Co. PJSC (a) | 1,700,217 | 333,285 | ||||||
RAK Properties PJSC | 2,732,087 | 505,804 | ||||||
|
| |||||||
3,836,243 | ||||||||
|
| |||||||
UNITED KINGDOM — 0.0% (e) |
| |||||||
Pan African Resources PLC | 1,269,532 | 128,574 | ||||||
|
| |||||||
UNITED STATES — 0.2% | ||||||||
IntelliEPI, Inc. | 6,000 | 19,570 | ||||||
Luxoft Holding, Inc. (a) | 25,451 | 1,042,218 |
26
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Navios Maritime Acquisition Corp. (c) | 33,400 | $ | 28,056 | |||||
|
| |||||||
1,089,844 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 558,221,175 | |||||||
|
| |||||||
WARRANTS — 0.0% (e) | ||||||||
INDONESIA — 0.0% (e) | ||||||||
Medco Energi Internasional Tbk PT (expiring 12/11/20) (a) | 2,135,866 | 97,737 | ||||||
|
| |||||||
MALAYSIA — 0.0% (e) | ||||||||
Hibiscus Petroleum Bhd (expiring 3/18/21) (a) (f) | 50,260 | 4,093 | ||||||
Malaysian Resources Corp. Bhd (expiring 10/29/27) (a) | 303,781 | 26,310 | ||||||
|
| |||||||
30,403 | ||||||||
|
| |||||||
THAILAND — 0.0% (e) | ||||||||
International Engineering PCL (expiring 5/22/19) (a) (d) | 13,635,806 | — | ||||||
Superblock PCL (expiring 8/31/20) (a) | 2,640,860 | 22,802 | ||||||
|
| |||||||
22,802 | ||||||||
|
| |||||||
TOTAL WARRANTS | 150,942 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 3.7% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (g) (h) | 823,507 | 823,507 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (g) (i) | 19,823,794 | 19,823,794 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| 20,647,301 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 103.4% |
| 579,019,418 | ||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (3.4)% |
| (19,272,977 | ) | |||||
|
| |||||||
NET ASSETS — 100.0% |
| $ | 559,746,441 | |||||
|
|
(a) | Non-income producing security. |
(b) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.9% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(c) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(d) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $318,757, representing less than 0.05% of the Fund’s net assets. |
(e) | Amount is less than 0.05% of net assets. |
(f) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $7,937,267 representing 1.4% of net assets. |
(g) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(h) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(i) | Investment of cash collateral for securities loaned. |
ADR | = American Depositary Receipt | |
ADS | = American Depositary Shares | |
CPO | = Certificate of Ordinary Participation | |
GDR | = Global Depositary Receipt | |
NVDR | = Non Voting Depositary Receipt | |
REIC | = Real Estate Investment Company | |
REIT | = Real Estate Investment Trust |
During the period ended March 31, 2018, average notional value related to futures contracts was $0 or less than 0.5% of net assets.
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Brazil | $ | 25,386,469 | $ | — | $ | — | $ | 25,386,469 |
27
Table of Contents
SPDR S&P EMERGING MARKETS SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Chile | $ | 8,116,694 | $ | — | $ | — | $ | 8,116,694 | ||||||||||||
China | 84,345,470 | — | 196,465 | 84,541,935 | ||||||||||||||||
Colombia | 203,046 | — | — | 203,046 | ||||||||||||||||
Czech Republic | 2,955,918 | — | — | 2,955,918 | ||||||||||||||||
Egypt | 6,390,150 | — | — | 6,390,150 | ||||||||||||||||
Greece | 5,100,962 | — | — | 5,100,962 | ||||||||||||||||
Hong Kong | 15,742,571 | 52,290 | 122,292 | 15,917,153 | ||||||||||||||||
Hungary | 1,021,657 | — | — | 1,021,657 | ||||||||||||||||
India | 73,135,358 | — | 0 | (a) | 73,135,358 | |||||||||||||||
Indonesia | 17,290,029 | — | — | 17,290,029 | ||||||||||||||||
Malaysia | 28,088,509 | — | — | 28,088,509 | ||||||||||||||||
Mexico | 11,386,180 | — | — | 11,386,180 | ||||||||||||||||
Monaco | 1,270,391 | — | — | 1,270,391 | ||||||||||||||||
Pakistan | 7,072,336 | — | — | 7,072,336 | ||||||||||||||||
Peru | 3,313,075 | — | — | 3,313,075 | ||||||||||||||||
Philippines | 6,808,816 | — | — | 6,808,816 | ||||||||||||||||
Poland | 10,919,961 | — | — | 10,919,961 | ||||||||||||||||
Qatar | 2,760,785 | — | — | 2,760,785 | ||||||||||||||||
Russia | 5,088,987 | — | — | 5,088,987 | ||||||||||||||||
Singapore | 1,430,380 | — | — | 1,430,380 | ||||||||||||||||
South Africa | 31,402,038 | — | — | 31,402,038 | ||||||||||||||||
Taiwan | 162,253,436 | — | — | 162,253,436 | ||||||||||||||||
Thailand | 24,624,557 | 7,717,117 | 0 | (a) | 32,341,674 | |||||||||||||||
Turkey | 8,970,575 | — | — | 8,970,575 | ||||||||||||||||
United Arab Emirates | 3,672,476 | 163,767 | — | 3,836,243 | ||||||||||||||||
United Kingdom | 128,574 | — | — | 128,574 | ||||||||||||||||
United States | 1,089,844 | — | — | 1,089,844 | ||||||||||||||||
Warrants | ||||||||||||||||||||
Indonesia | 97,737 | — | — | 97,737 | ||||||||||||||||
Malaysia | 26,310 | 4,093 | — | 30,403 | ||||||||||||||||
Thailand | 22,802 | — | 0 | (a) | 22,802 | |||||||||||||||
Short-Term Investments | 20,647,301 | — | — | 20,647,301 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 570,763,394 | $ | 7,937,267 | $ | 318,757 | $ | 579,019,418 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 379,285 | $ | 379,285 | $ | 25,055,869 | $ | 24,611,647 | $ | — | $ | — | 823,507 | $ | 823,507 | $ | 6,544 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 16,261,252 | 16,261,252 | 39,107,436 | 35,544,894 | — | — | 19,823,794 | 19,823,794 | 405,535 | — | ||||||||||||||||||||||||||||||||||||||||
|
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|
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|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 16,640,537 | $ | 64,163,305 | $ | 60,156,541 | $ | — | $ | — | $ | 20,647,301 | $ | 412,079 | $ | — | ||||||||||||||||||||||||||||||||||
|
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|
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28
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.2% | ||||||||
ARGENTINA — 0.0% (a) | ||||||||
MercadoLibre, Inc. | 132 | $ | 47,043 | |||||
|
| |||||||
AUSTRALIA — 2.0% | ||||||||
Amcor, Ltd. | 2,314 | 25,151 | ||||||
AMP, Ltd. | 12,549 | 48,032 | ||||||
APA Group | 14,312 | 86,507 | ||||||
Aristocrat Leisure, Ltd. | 2,627 | 48,482 | ||||||
Aurizon Holdings, Ltd. | 2,081 | 6,752 | ||||||
Australia & New Zealand Banking Group, Ltd. | 10,407 | 214,415 | ||||||
Bank of Queensland, Ltd. | 3,609 | 30,340 | ||||||
Bendigo & Adelaide Bank, Ltd. (b) | 2,686 | 20,273 | ||||||
Brambles, Ltd. | 9,258 | 70,872 | ||||||
Caltex Australia, Ltd. | 450 | 10,838 | ||||||
Challenger, Ltd. | 1,826 | 16,163 | ||||||
Coca-Cola Amatil, Ltd. | 2,727 | 18,135 | ||||||
Cochlear, Ltd. | 28 | 3,901 | ||||||
Commonwealth Bank of Australia | 6,513 | 361,246 | ||||||
Computershare, Ltd. | 2,957 | 39,262 | ||||||
Crown Resorts, Ltd. | 1,018 | 9,909 | ||||||
CSL, Ltd. | 1,456 | 173,622 | ||||||
Dexus REIT | 3,575 | 25,557 | ||||||
Domino’s Pizza Enterprises, Ltd. (b) | 250 | 8,002 | ||||||
Flight Centre Travel Group, Ltd. (b) | 392 | 17,136 | ||||||
Fortescue Metals Group, Ltd. (b) | 25,419 | 84,425 | ||||||
Goodman Group REIT | 8,221 | 53,159 | ||||||
GPT Group REIT | 5,886 | 21,400 | ||||||
Harvey Norman Holdings, Ltd. (b) | 2,601 | 7,362 | ||||||
Healthscope, Ltd. | 8,746 | 12,981 | ||||||
Insurance Australia Group, Ltd. | 10,485 | 60,158 | ||||||
LendLease Group | 2,334 | 30,990 | ||||||
Macquarie Group, Ltd. | 1,430 | 112,869 | ||||||
Medibank Pvt, Ltd. | 8,023 | 17,847 | ||||||
Mirvac Group REIT | 13,939 | 22,988 | ||||||
National Australia Bank, Ltd. | 10,652 | 232,781 | ||||||
Newcrest Mining, Ltd. | 2,536 | 38,049 | ||||||
QBE Insurance Group, Ltd. | 5,010 | 37,007 | ||||||
Ramsay Health Care, Ltd. (b) | 452 | 21,607 | ||||||
Scentre Group REIT | 25,230 | 74,121 | ||||||
SEEK, Ltd. | 1,309 | 18,676 | ||||||
Sonic Healthcare, Ltd. | 1,078 | 18,919 | ||||||
Stockland REIT | 10,895 | 33,679 | ||||||
Suncorp Group, Ltd. | 7,265 | 74,339 | ||||||
Sydney Airport | 12,894 | 66,364 | ||||||
Tabcorp Holdings, Ltd. | 11,895 | 40,055 | ||||||
Telstra Corp., Ltd. | 20,544 | 49,481 | ||||||
TPG Telecom, Ltd. (b) | 1,620 | 6,822 | ||||||
Transurban Group Stapled Security | 17,671 | 154,793 | ||||||
Treasury Wine Estates, Ltd. | 3,569 | 46,156 | ||||||
Vicinity Centres REIT | 5,532 | 10,226 | ||||||
Wesfarmers, Ltd. | 2,947 | 93,946 | ||||||
Westfield Corp. REIT | 8,119 | 53,060 | ||||||
Westpac Banking Corp. | 12,098 | 265,587 | ||||||
Woolworths, Ltd. | 1,846 | 37,226 | ||||||
|
| |||||||
3,031,668 | ||||||||
|
|
Security Description | Shares | Value | ||||||
AUSTRIA — 0.1% | ||||||||
ANDRITZ AG | 170 | $ | 9,492 | |||||
Erste Group Bank AG | 1,383 | 69,396 | ||||||
Raiffeisen Bank International AG (c) | 1,020 | 39,628 | ||||||
|
| |||||||
118,516 | ||||||||
|
| |||||||
BELGIUM — 0.3% | ||||||||
Ageas | 491 | 25,338 | ||||||
Anheuser-Busch InBev SA | 2,876 | 315,788 | ||||||
Colruyt SA | 272 | 15,026 | ||||||
Groupe Bruxelles Lambert SA | 277 | 31,614 | ||||||
Proximus SADP | 442 | 13,715 | ||||||
UCB SA | 340 | 27,673 | ||||||
Umicore SA | 1,096 | 57,866 | ||||||
|
| |||||||
487,020 | ||||||||
|
| |||||||
BERMUDA — 0.0% (a) | ||||||||
Marvell Technology Group, Ltd. | 1,918 | 40,278 | ||||||
|
| |||||||
BRAZIL — 1.0% | ||||||||
Ambev SA | 21,590 | 156,358 | ||||||
B3 SA - Brasil Bolsa Balcao | 8,144 | 65,400 | ||||||
Banco Bradesco SA Preference Shares | 11,953 | 142,058 | ||||||
Banco Bradesco SA | 3,010 | 34,840 | ||||||
Banco do Brasil SA | 3,363 | 41,516 | ||||||
Banco Santander Brasil SA | 900 | 10,807 | ||||||
BB Seguridade Participacoes SA | 1,287 | 11,334 | ||||||
CCR SA | 7,852 | 29,531 | ||||||
Cielo SA | 5,722 | 35,620 | ||||||
Cosan SA Industria e Comercio | 3,371 | 42,102 | ||||||
Embraer SA | 3,087 | 20,016 | ||||||
Fibria Celulose SA | 1,400 | 27,393 | ||||||
Hypera SA | 2,100 | 22,847 | ||||||
Itau Unibanco Holding SA Preference Shares | 10,182 | 157,191 | ||||||
Itausa - Investimentos Itau SA Preference Shares | 6,200 | 25,725 | ||||||
Itausa - Investimentos Itau SA (c) | 145 | 602 | ||||||
Klabin SA | 4,913 | 30,599 | ||||||
Kroton Educacional SA | 3,852 | 15,762 | ||||||
Localiza Rent a Car SA | 5,700 | 49,255 | ||||||
Lojas Renner SA | 2,500 | 25,838 | ||||||
Qualicorp SA | 2,100 | 14,077 | ||||||
Raia Drogasil SA | 500 | 11,253 | ||||||
Rumo SA (c) | 5,500 | 21,761 | ||||||
Suzano Papel e Celulose SA | 2,700 | 27,101 | ||||||
Telefonica Brasil SA Preference Shares | 2,184 | 33,119 | ||||||
TIM Participacoes SA | 1,607 | 6,963 | ||||||
Transmissora Alianca de Energia Eletrica SA | 4,600 | 30,075 | ||||||
Ultrapar Participacoes SA | 6,360 | 135,712 | ||||||
Vale SA | 17,272 | 219,356 | ||||||
WEG SA | 2,900 | 19,728 | ||||||
|
| |||||||
1,463,939 | ||||||||
|
| |||||||
CANADA — 3.1% | ||||||||
Agnico Eagle Mines, Ltd. | 1,815 | 76,303 |
29
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Alimentation Couche-Tard, Inc. Class B | 1,823 | $ | 81,545 | |||||
Bank of Montreal | 2,287 | 172,636 | ||||||
Bank of Nova Scotia | 4,571 | 281,369 | ||||||
Barrick Gold Corp. | 2,168 | 26,990 | ||||||
BCE, Inc. | 1,773 | 76,242 | ||||||
BlackBerry, Ltd. (c) | 3,437 | 39,482 | ||||||
Bombardier, Inc. Class B (c) | 12,262 | 35,666 | ||||||
Brookfield Asset Management, Inc. Class A | 3,327 | 129,596 | ||||||
CAE, Inc. | 784 | 14,582 | ||||||
Cameco Corp. | 2,512 | 22,816 | ||||||
Canadian Imperial Bank of Commerce | 1,733 | 152,862 | ||||||
Canadian National Railway Co. | 2,216 | 161,845 | ||||||
Canadian Pacific Railway, Ltd. | 127 | 22,381 | ||||||
Canadian Tire Corp., Ltd. Class A | 260 | 34,163 | ||||||
CCL Industries, Inc. Class B | 925 | 46,664 | ||||||
CGI Group, Inc. Class A (c) | 524 | 30,198 | ||||||
CI Financial Corp. (b) | 1,200 | 25,689 | ||||||
Constellation Software, Inc. | 55 | 37,292 | ||||||
Dollarama, Inc. | 400 | 48,580 | ||||||
Element Fleet Management Corp. (b) | 2,500 | 8,047 | ||||||
Enbridge, Inc. (d) | 2,043 | 64,210 | ||||||
Enbridge, Inc. (d) | 4,681 | 147,311 | ||||||
Fairfax Financial Holdings, Ltd. | 132 | 66,865 | ||||||
Finning International, Inc. | 16 | 386 | ||||||
First Quantum Minerals, Ltd. | 8,698 | 122,045 | ||||||
Franco-Nevada Corp. | 1,423 | 97,019 | ||||||
George Weston, Ltd. | 800 | 64,360 | ||||||
Goldcorp, Inc. | 4,110 | 56,713 | ||||||
Great-West Lifeco, Inc. | 524 | 13,364 | ||||||
Hydro One, Ltd. (e) | 11,567 | 187,692 | ||||||
Intact Financial Corp. | 300 | 22,527 | ||||||
Inter Pipeline, Ltd. (b) | 3,344 | 57,996 | ||||||
Loblaw Cos., Ltd. | 825 | 41,652 | ||||||
Lundin Mining Corp. | 21,100 | 138,294 | ||||||
Magna International, Inc. | 182 | 10,245 | ||||||
Manulife Financial Corp. | 5,508 | 102,192 | ||||||
Metro, Inc. | 600 | 19,127 | ||||||
National Bank of Canada | 800 | 37,628 | ||||||
Open Text Corp. | 520 | 18,077 | ||||||
Pembina Pipeline Corp. | 8,163 | 254,530 | ||||||
Power Corp. of Canada | 1,048 | 23,899 | ||||||
Power Financial Corp. | 800 | 20,018 | ||||||
PrairieSky Royalty, Ltd. (b) | 12,087 | 264,100 | ||||||
Restaurant Brands International, Inc. | 1,060 | 60,282 | ||||||
Rogers Communications, Inc. Class B | 1,563 | 69,758 | ||||||
Royal Bank of Canada | 5,372 | 414,676 | ||||||
Shaw Communications, Inc. Class B | 1,408 | 27,106 | ||||||
Shopify, Inc. Class A (c) | 200 | 24,870 | ||||||
SNC-Lavalin Group, Inc. (b) | 1,598 | 70,117 | ||||||
Sun Life Financial, Inc. (b) | 1,687 | 69,233 | ||||||
TELUS Corp. | 1,300 | 45,617 | ||||||
Thomson Reuters Corp. | 690 | 26,647 |
Security Description | Shares | Value | ||||||
Toronto-Dominion Bank | 6,917 | $ | 392,245 | |||||
Wheaton Precious Metals Corp. | 5,812 | 118,336 | ||||||
|
| |||||||
4,674,085 | ||||||||
|
| |||||||
CHILE — 0.3% | ||||||||
Aguas Andinas SA Class A | 83,447 | 54,311 | ||||||
Antofagasta PLC | 16,766 | 216,613 | ||||||
Cencosud SA | 10,492 | 32,125 | ||||||
SACI Falabella | 3,062 | 29,543 | ||||||
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares | 936 | 45,588 | ||||||
|
| |||||||
378,180 | ||||||||
|
| |||||||
CHINA — 3.5% | ||||||||
58.com, Inc. ADR (c) | 300 | 23,958 | ||||||
AAC Technologies Holdings, Inc. | 2,500 | 45,105 | ||||||
Agricultural Bank of China, Ltd. Class H | 150,000 | 85,241 | ||||||
Alibaba Group Holding, Ltd. ADR (b) (c) | 3,785 | 694,699 | ||||||
ANTA Sports Products, Ltd. | 3,000 | 15,137 | ||||||
Baidu, Inc. ADR (c) | 913 | 203,773 | ||||||
Bank of China, Ltd. Class H | 341,000 | 183,354 | ||||||
Bank of Communications Co., Ltd. Class H | 77,000 | 60,338 | ||||||
Beijing Capital International Airport Co., Ltd. Class H | 22,000 | 29,545 | ||||||
Beijing Enterprises Water Group, Ltd. | 68,000 | 37,950 | ||||||
Brilliance China Automotive Holdings, Ltd. | 12,000 | 25,045 | ||||||
Byd Co., Ltd. Class H (b) | 2,000 | 15,596 | ||||||
CGN Power Co., Ltd. Class H (e) | 369,200 | 95,495 | ||||||
China Cinda Asset Management Co., Ltd. Class H | 54,000 | 19,609 | ||||||
China CITIC Bank Corp., Ltd. Class H | 68,000 | 46,441 | ||||||
China Construction Bank Corp. Class H | 347,000 | 356,360 | ||||||
China Everbright Bank Co., Ltd. Class H | 17,000 | 8,166 | ||||||
China Evergrande Group (b) (c) | 12,700 | 39,969 | ||||||
China Life Insurance Co., Ltd. Class H | 34,000 | 93,574 | ||||||
China Mengniu Dairy Co., Ltd. | 6,000 | 20,565 | ||||||
China Merchants Bank Co., Ltd. Class H | 19,500 | 79,880 | ||||||
China Merchants Port Holdings Co., Ltd. | 26,598 | 58,630 | ||||||
China Minsheng Banking Corp., Ltd. Class H (b) | 40,000 | 38,887 | ||||||
China Mobile, Ltd. | 17,000 | 155,849 | ||||||
China Oilfield Services, Ltd. Class H | 34,000 | 35,047 | ||||||
China Overseas Land & Investment, Ltd. | 6,000 | 20,833 | ||||||
China Pacific Insurance Group Co., Ltd. Class H | 10,400 | 46,578 | ||||||
China Resources Beer Holdings Co., Ltd. | 6,000 | 25,993 |
30
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
China Resources Gas Group, Ltd. | 28,000 | $ | 97,219 | |||||
China Taiping Insurance Holdings Co., Ltd. | 2,000 | 6,613 | ||||||
China Telecom Corp., Ltd. Class H | 34,000 | 14,989 | ||||||
China Unicom Hong Kong, Ltd. (c) | 22,000 | 27,751 | ||||||
China Vanke Co., Ltd. Class H | 6,696 | 30,544 | ||||||
Chongqing Rural Commercial Bank Co., Ltd. Class H | 26,000 | 19,910 | ||||||
CITIC Securities Co., Ltd. Class H | 8,500 | 19,451 | ||||||
COSCO SHIPPING Ports, Ltd. | 12,953 | 10,893 | ||||||
Country Garden Holdings Co., Ltd. | 17,000 | 35,004 | ||||||
CSPC Pharmaceutical Group, Ltd. | 12,000 | 31,880 | ||||||
Ctrip.com International, Ltd. ADR (c) | 1,163 | 54,219 | ||||||
Geely Automobile Holdings, Ltd. | 19,000 | 54,713 | ||||||
Great Wall Motor Co., Ltd. Class H (b) | 25,500 | 25,571 | ||||||
Guangdong Investment, Ltd. | 26,000 | 40,880 | ||||||
Guangzhou Automobile Group Co., Ltd. Class H | 12,000 | 22,109 | ||||||
Haitian International Holdings, Ltd. | 4,000 | 12,130 | ||||||
Haitong Securities Co., Ltd. Class H | 1,600 | 2,116 | ||||||
Huaneng Renewables Corp., Ltd. Class H | 188,000 | 70,186 | ||||||
Huatai Securities Co., Ltd. Class H (e) | 6,500 | 12,506 | ||||||
Industrial & Commercial Bank of China, Ltd. Class H | 287,000 | 246,106 | ||||||
JD.com, Inc. ADR (b) (c) | 2,405 | 97,378 | ||||||
Jiangsu Expressway Co., Ltd. Class H | 24,000 | 33,944 | ||||||
Lenovo Group, Ltd. (b) | 34,000 | 17,372 | ||||||
NetEase, Inc. ADR | 271 | 75,986 | ||||||
New China Life Insurance Co., Ltd. Class H | 3,200 | 14,903 | ||||||
New Oriental Education & Technology Group, Inc. ADR | 405 | 35,498 | ||||||
People’s Insurance Co. Group of China, Ltd. Class H | 78,000 | 36,474 | ||||||
PICC Property & Casualty Co., Ltd. Class H | 12,000 | 21,008 | ||||||
Ping An Insurance Group Co. of China, Ltd. Class H | 19,500 | 198,272 | ||||||
Shanghai Electric Group Co., Ltd. Class H (b) (c) | 44,000 | 15,249 | ||||||
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H | 3,500 | 21,495 | ||||||
Shanghai Industrial Holdings, Ltd. | 3,000 | 7,817 | ||||||
SINA Corp. (c) | 164 | 17,100 | ||||||
Sunac China Holdings, Ltd. | 8,000 | 30,886 | ||||||
Sunny Optical Technology Group Co., Ltd. | 2,000 | 36,925 | ||||||
TAL Education Group ADR | 1,026 | 38,054 | ||||||
Tencent Holdings, Ltd. | 19,184 | 1,001,206 | ||||||
Vipshop Holdings, Ltd. ADR (c) | 1,407 | 23,384 | ||||||
Want Want China Holdings, Ltd. | 17,000 | 13,625 | ||||||
Weibo Corp. ADR | 16 | 1,913 | ||||||
Yangzijiang Shipbuilding Holdings, Ltd. | 34,000 | 31,373 |
Security Description | Shares | Value | ||||||
Yum China Holdings, Inc. | 1,410 | $ | 58,515 | |||||
Zhejiang Expressway Co., Ltd. Class H | 24,000 | 24,495 | ||||||
Zhuzhou CRRC Times Electric Co., Ltd. Class H | 2,000 | 9,684 | ||||||
ZTE Corp. Class H (c) | 4,600 | 14,975 | ||||||
|
| |||||||
5,273,938 | ||||||||
|
| |||||||
COLOMBIA — 0.2% | ||||||||
Bancolombia SA | 3,396 | 36,743 | ||||||
Bancolombia SA Preference Shares | 2,562 | 26,858 | ||||||
Grupo Aval Acciones y Valores SA Preference Shares | 171,816 | 71,664 | ||||||
Grupo de Inversiones Suramericana SA Preference Shares | 696 | 8,871 | ||||||
Grupo de Inversiones Suramericana SA | 6,331 | 84,501 | ||||||
Interconexion Electrica SA ESP | 26,273 | 125,293 | ||||||
|
| |||||||
353,930 | ||||||||
|
| |||||||
CZECH REPUBLIC — 0.0% (a) | ||||||||
Komercni banka A/S | 477 | 21,746 | ||||||
|
| |||||||
DENMARK — 0.5% | ||||||||
Carlsberg A/S Class B | 9 | 1,070 | ||||||
Chr Hansen Holding A/S | 677 | 58,195 | ||||||
Coloplast A/S Class B | 374 | 31,508 | ||||||
Danske Bank A/S | 1,712 | 63,668 | ||||||
Genmab A/S (c) | 153 | 32,766 | ||||||
ISS A/S | 513 | 18,926 | ||||||
Novo Nordisk A/S Class B | 6,352 | 311,789 | ||||||
Novozymes A/S Class B | 1,759 | 90,665 | ||||||
Pandora A/S | 425 | 45,565 | ||||||
TDC A/S (c) | 3,362 | 27,802 | ||||||
Vestas Wind Systems A/S | 753 | 53,398 | ||||||
|
| |||||||
735,352 | ||||||||
|
| |||||||
FINLAND — 0.3% | ||||||||
Kone Oyj Class B | 1,660 | 82,744 | ||||||
Metso Oyj (b) | 100 | 3,150 | ||||||
Neste Oyj (b) | 674 | 46,917 | ||||||
Nokia Oyj (d) | 21,883 | 120,704 | ||||||
Nokia Oyj (d) | 2,449 | 13,484 | ||||||
Nokian Renkaat Oyj | 493 | 22,373 | ||||||
Sampo Oyj Class A | 1,689 | 94,015 | ||||||
Wartsila Oyj Abp | 2,169 | 47,882 | ||||||
|
| |||||||
431,269 | ||||||||
|
| |||||||
FRANCE — 3.6% | ||||||||
Aeroports de Paris | 579 | 126,039 | ||||||
Airbus SE | 2,401 | 276,979 | ||||||
Alstom SA | 1,174 | 52,859 | ||||||
Amundi SA (e) | 358 | 28,733 | ||||||
Atos SE | 332 | 45,363 | ||||||
AXA SA | 8,100 | 215,175 | ||||||
BNP Paribas SA | 3,820 | 282,680 | ||||||
Bollore SA (d) | 10,605 | 56,474 | ||||||
Bollore SA (c) (d) | 60 | 318 | ||||||
Bureau Veritas SA | 1,464 | 38,009 | ||||||
Capgemini SE | 707 | 87,994 |
31
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
CNP Assurances | 1,654 | $ | 41,701 | |||||
Credit Agricole SA | 4,635 | 75,273 | ||||||
Danone SA | 2,188 | 176,874 | ||||||
Dassault Aviation SA | 17 | 32,428 | ||||||
Dassault Systemes SE | 292 | 39,646 | ||||||
Edenred | 1,821 | 63,245 | ||||||
Eiffage SA | 370 | 42,083 | ||||||
Essilor International Cie Generale d’Optique SA | 744 | 100,285 | ||||||
Eurazeo SA | 530 | 48,724 | ||||||
Eutelsat Communications SA | 1,018 | 20,157 | ||||||
Fonciere Des Regions REIT | 419 | 46,197 | ||||||
Gecina SA REIT | 325 | 56,398 | ||||||
Getlink SE | 4,744 | 67,679 | ||||||
Hermes International | 125 | 74,022 | ||||||
ICADE REIT | 196 | 19,019 | ||||||
Iliad SA | 175 | 36,158 | ||||||
Ingenico Group SA | 194 | 15,718 | ||||||
Kering SA | 293 | 140,103 | ||||||
Klepierre SA REIT | 1,431 | 57,637 | ||||||
Lagardere SCA | 340 | 9,701 | ||||||
Legrand SA | 1,385 | 108,503 | ||||||
L’Oreal SA | 1,336 | 301,259 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 1,124 | 345,864 | ||||||
Natixis SA | 4,073 | 33,351 | ||||||
Orange SA | 8,254 | 139,934 | ||||||
Pernod Ricard SA | 970 | 161,347 | ||||||
Peugeot SA | 2,778 | 66,793 | ||||||
Publicis Groupe SA | 734 | 51,075 | ||||||
Remy Cointreau SA | 157 | 22,359 | ||||||
Renault SA | 1,182 | 143,188 | ||||||
Rexel SA | 2,366 | 40,010 | ||||||
Safran SA | 1,630 | 172,360 | ||||||
Sanofi | 4,287 | 344,444 | ||||||
Schneider Electric SE | 2,899 | 254,351 | ||||||
SCOR SE | 776 | 31,742 | ||||||
Societe BIC SA | 102 | 10,142 | ||||||
Societe Generale SA | 2,855 | 155,056 | ||||||
Sodexo SA | 502 | 50,564 | ||||||
Teleperformance | 113 | 17,511 | ||||||
Thales SA | 437 | 53,175 | ||||||
Ubisoft Entertainment SA (c) | 223 | 18,792 | ||||||
Unibail-Rodamco SE REIT (b) | 463 | 105,713 | ||||||
Valeo SA | 673 | 44,397 | ||||||
Vinci SA | 2,781 | 273,275 | ||||||
Vivendi SA | 5,191 | 134,067 | ||||||
|
| |||||||
5,452,943 | ||||||||
|
| |||||||
GERMANY — 3.1% | ||||||||
1&1 Drillisch AG | 287 | 19,325 | ||||||
adidas AG | 708 | 171,230 | ||||||
Allianz SE | 1,887 | 425,621 | ||||||
BASF SE | 3,352 | 339,979 | ||||||
Bayer AG | 2,484 | 280,414 | ||||||
Bayerische Motoren Werke AG | 1,636 | 177,361 | ||||||
Bayerische Motoren Werke AG Preference Shares | 630 | 59,001 | ||||||
Beiersdorf AG | 528 | 59,754 |
Security Description | Shares | Value | ||||||
Brenntag AG | 1,132 | $ | 67,243 | |||||
Commerzbank AG (c) | 2,569 | 33,314 | ||||||
Continental AG | 272 | 75,033 | ||||||
Daimler AG | 4,212 | 357,274 | ||||||
Deutsche Bank AG | 9,178 | 127,843 | ||||||
Deutsche Boerse AG | 607 | 82,565 | ||||||
Deutsche Post AG | 1,935 | 84,529 | ||||||
Deutsche Telekom AG | 11,989 | 195,367 | ||||||
Deutsche Wohnen SE | 790 | 36,823 | ||||||
Fraport AG Frankfurt Airport Services Worldwide | 476 | 46,891 | ||||||
Fresenius Medical Care AG & Co. KGaA | 838 | 85,520 | ||||||
Fresenius SE & Co. KGaA | 1,467 | 111,968 | ||||||
Fuchs Petrolub SE Preference Shares | 747 | 40,515 | ||||||
GEA Group AG | 595 | 25,282 | ||||||
Hannover Rueck SE | 78 | 10,638 | ||||||
Henkel AG & Co. KGaA Preference Shares | 547 | 71,881 | ||||||
Henkel AG & Co. KGaA | 601 | 75,614 | ||||||
HUGO BOSS AG | 279 | 24,280 | ||||||
Infineon Technologies AG | 4,246 | 113,525 | ||||||
KION Group AG | 220 | 20,493 | ||||||
Merck KGaA | 510 | 48,861 | ||||||
MTU Aero Engines AG | 235 | 39,537 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 886 | 205,780 | ||||||
ProSiebenSat.1 Media SE | 645 | 22,354 | ||||||
SAP SE | 3,694 | 386,024 | ||||||
Siemens AG | 3,027 | 385,380 | ||||||
Symrise AG | 1,081 | 86,894 | ||||||
Telefonica Deutschland Holding AG | 9,319 | 43,735 | ||||||
United Internet AG | 332 | 20,865 | ||||||
Volkswagen AG Preference Shares | 733 | 145,481 | ||||||
Vonovia SE | 1,303 | 64,500 | ||||||
Wirecard AG | 397 | 46,833 | ||||||
Zalando SE (c) (e) | 319 | 17,372 | ||||||
|
| |||||||
4,732,899 | ||||||||
|
| |||||||
GREECE — 0.0% (a) | ||||||||
Alpha Bank AE (c) | 2,943 | 6,262 | ||||||
OPAP SA | 1,717 | 19,617 | ||||||
|
| |||||||
25,879 | ||||||||
|
| |||||||
HONG KONG — 1.2% | ||||||||
AIA Group, Ltd. | 44,000 | 372,259 | ||||||
BOC Hong Kong Holdings, Ltd. | 5,500 | 26,770 | ||||||
China Gas Holdings, Ltd. | 8,000 | 29,102 | ||||||
CK Asset Holdings, Ltd. | 9,459 | 79,364 | ||||||
CK Hutchison Holdings, Ltd. | 500 | 5,982 | ||||||
CK Infrastructure Holdings, Ltd. | 2,000 | 16,347 | ||||||
Galaxy Entertainment Group, Ltd. | 7,000 | 63,549 | ||||||
Hanergy Thin Film Power Group, Ltd. (c) (f) | 24,000 | — | ||||||
Hang Lung Properties, Ltd. | 11,000 | 25,621 | ||||||
Henderson Land Development Co., Ltd. | 5,630 | 36,657 |
32
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Hong Kong & China Gas Co., Ltd. | 112,020 | $ | 230,083 | |||||
Hong Kong Exchanges & Clearing, Ltd. | 2,874 | 93,453 | ||||||
Hongkong Land Holdings, Ltd. | 6,800 | 46,852 | ||||||
Jardine Matheson Holdings, Ltd. | 800 | 49,296 | ||||||
Kerry Properties, Ltd. | 7,000 | 31,529 | ||||||
Kingston Financial Group, Ltd. (b) | 22,000 | 9,839 | ||||||
Li & Fung, Ltd. | 34,000 | 16,635 | ||||||
Link REIT | 7,000 | 59,758 | ||||||
Melco Resorts & Entertainment, Ltd. ADR | 1,409 | 40,833 | ||||||
MTR Corp., Ltd. | 11,380 | 61,190 | ||||||
Power Assets Holdings, Ltd. | 24,500 | 218,363 | ||||||
Sands China, Ltd. | 11,200 | 60,222 | ||||||
Sino Land Co., Ltd. | 6,237 | 10,093 | ||||||
Sun Hung Kai Properties, Ltd. | 6,000 | 94,798 | ||||||
Swire Properties, Ltd. | 6,800 | 23,827 | ||||||
Techtronic Industries Co., Ltd. | 4,000 | 23,317 | ||||||
Wharf Holdings, Ltd. | 5,000 | 17,169 | ||||||
Wheelock & Co., Ltd. | 4,000 | 29,229 | ||||||
|
| |||||||
1,772,137 | ||||||||
|
| |||||||
HUNGARY — 0.0% (a) | ||||||||
OTP Bank PLC | 1,274 | 57,317 | ||||||
|
| |||||||
INDIA — 0.9% | ||||||||
Adani Ports & Special Economic Zone, Ltd. | 5,918 | 32,130 | ||||||
Asian Paints, Ltd. | 3,701 | 63,577 | ||||||
Axis Bank, Ltd. | 4,683 | 36,655 | ||||||
Bajaj Auto, Ltd. | 578 | 24,324 | ||||||
Bharat Petroleum Corp., Ltd. | 10,860 | 71,174 | ||||||
Bharti Airtel, Ltd. | 4,501 | 27,515 | ||||||
Bharti Infratel, Ltd. | 3,012 | 15,524 | ||||||
Eicher Motors, Ltd. | 52 | 22,621 | ||||||
Godrej Consumer Products, Ltd. | 1,128 | 18,914 | ||||||
HCL Technologies, Ltd. | 1,915 | 28,439 | ||||||
Hindustan Petroleum Corp., Ltd. | 6,902 | 36,493 | ||||||
Hindustan Unilever, Ltd. | 3,336 | 68,199 | ||||||
Housing Development Finance Corp., Ltd. | 5,058 | 141,577 | ||||||
ICICI Bank, Ltd. ADR | 4,895 | 43,321 | ||||||
Idea Cellular, Ltd. (c) | 15,021 | 17,480 | ||||||
Infosys, Ltd. ADR (b) | 8,224 | 146,798 | ||||||
ITC, Ltd. | 17,927 | 70,227 | ||||||
Larsen & Toubro, Ltd. GDR | 2,818 | 56,642 | ||||||
Lupin, Ltd. | 329 | 3,712 | ||||||
Mahindra & Mahindra, Ltd. GDR | 2,238 | 25,737 | ||||||
Maruti Suzuki India, Ltd. | 421 | 57,198 | ||||||
Nestle India, Ltd. | 195 | 24,527 | ||||||
Power Finance Corp., Ltd. | 4,887 | 6,418 | ||||||
Reliance Industries, Ltd. | 2,260 | 30,586 | ||||||
Rural Electrification Corp., Ltd. | 8,180 | 15,640 | ||||||
State Bank of India GDR | 929 | 35,859 | ||||||
Sun Pharmaceutical Industries, Ltd. | 2,792 | 21,194 | ||||||
Tata Consultancy Services, Ltd. | 1,849 | 80,772 | ||||||
Tata Motors, Ltd. (c) (d) | 10,536 | 29,611 | ||||||
Tata Motors, Ltd. (c) (d) | 2,808 | 14,072 | ||||||
Tech Mahindra, Ltd. | 2,866 | 28,066 |
Security Description | Shares | Value | ||||||
Titan Co., Ltd. | 1,844 | $ | 26,641 | |||||
United Spirits, Ltd. (c) | 413 | 19,818 | ||||||
Wipro, Ltd. ADR (b) | 3,204 | 16,533 | ||||||
Yes Bank, Ltd. | 4,203 | 19,645 | ||||||
|
| |||||||
1,377,639 | ||||||||
|
| |||||||
INDONESIA — 0.3% | ||||||||
Astra International Tbk PT | 91,800 | 48,675 | ||||||
Bank Central Asia Tbk PT | 36,500 | 61,772 | ||||||
Bank Mandiri Persero Tbk PT | 68,000 | 37,908 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 170,000 | 44,452 | ||||||
Gudang Garam Tbk PT | 4,700 | 24,742 | ||||||
Hanjaya Mandala Sampoerna Tbk PT | 159,000 | 45,965 | ||||||
Indofood CBP Sukses Makmur Tbk PT | 15,600 | 9,376 | ||||||
Jasa Marga Persero Tbk PT | 63,050 | 20,975 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 248,900 | 65,084 | ||||||
Unilever Indonesia Tbk PT | 8,500 | 30,577 | ||||||
|
| |||||||
389,526 | ||||||||
|
| |||||||
IRELAND — 0.2% | ||||||||
AerCap Holdings NV (c) | 882 | 44,735 | ||||||
AIB Group PLC | 4,628 | 27,844 | ||||||
James Hardie Industries PLC | 1,323 | 23,209 | ||||||
Kerry Group PLC Class A | 537 | 54,419 | ||||||
Paddy Power Betfair PLC | 286 | 29,352 | ||||||
XL Group, Ltd. | 1,187 | 65,594 | ||||||
|
| |||||||
245,153 | ||||||||
|
| |||||||
ISRAEL — 0.1% | ||||||||
Bank Leumi Le-Israel BM | 2,181 | 13,114 | ||||||
Bezeq The Israeli Telecommunication Corp., Ltd. | 5,345 | 6,821 | ||||||
Check Point Software Technologies, Ltd. (c) | 528 | 52,452 | ||||||
Elbit Systems, Ltd. | 88 | 10,552 | ||||||
Frutarom Industries, Ltd. | 654 | 59,814 | ||||||
Teva Pharmaceutical Industries, Ltd. | 3,531 | 59,902 | ||||||
|
| |||||||
202,655 | ||||||||
|
| |||||||
ITALY — 0.7% | ||||||||
Assicurazioni Generali SpA | 6,502 | 124,945 | ||||||
Atlantia SpA | 3,522 | 108,938 | ||||||
Davide Campari-Milano SpA | 2,841 | 21,488 | ||||||
Ferrari NV | 783 | 93,928 | ||||||
Intesa Sanpaolo SpA | 53,695 | 195,040 | ||||||
Leonardo SpA | 1,722 | 19,861 | ||||||
Luxottica Group SpA | 759 | 47,140 | ||||||
Mediobanca Banca di Credito Finanziario SpA | 2,469 | 28,993 | ||||||
Poste Italiane SpA (e) | 3,413 | 31,145 | ||||||
Snam SpA | 11,356 | 52,136 | ||||||
Telecom Italia SpA/Milano | 132,070 | 109,865 | ||||||
Terna Rete Elettrica Nazionale SpA | 15,163 | 88,560 | ||||||
UniCredit SpA (c) | 7,296 | 152,433 |
33
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
UnipolSai Assicurazioni SpA | 12,711 | $ | 30,218 | |||||
|
| |||||||
1,104,690 | ||||||||
|
| |||||||
JAPAN — 8.0% | ||||||||
Aisin Seiki Co., Ltd. | 300 | 16,192 | ||||||
Alfresa Holdings Corp. (b) | 600 | 13,365 | ||||||
Alps Electric Co., Ltd. (b) | 500 | 12,177 | ||||||
Amada Holdings Co., Ltd. | 900 | 10,790 | ||||||
Asahi Group Holdings, Ltd. | 1,300 | 69,553 | ||||||
Asics Corp. (b) | 400 | 7,376 | ||||||
Astellas Pharma, Inc. | 8,200 | 124,600 | ||||||
Bandai Namco Holdings, Inc. | 400 | 12,788 | ||||||
Bank of Kyoto, Ltd. | 200 | 11,171 | ||||||
Benesse Holdings, Inc. | 600 | 21,551 | ||||||
Bridgestone Corp. | 800 | 34,813 | ||||||
Brother Industries, Ltd. | 500 | 11,410 | ||||||
Canon, Inc. | 4,800 | 173,766 | ||||||
Casio Computer Co., Ltd. (b) | 1,100 | 16,177 | ||||||
Central Japan Railway Co. | 800 | 151,274 | ||||||
Chiba Bank, Ltd. | 3,000 | 24,175 | ||||||
Chugai Pharmaceutical Co., Ltd. | 600 | 30,071 | ||||||
Coca-Cola Bottlers Japan Holdings, Inc. | 600 | 24,654 | ||||||
Concordia Financial Group, Ltd. | 5,600 | 31,225 | ||||||
Daifuku Co., Ltd. | 400 | 23,282 | ||||||
Dai-ichi Life Holdings, Inc. | 3,300 | 60,353 | ||||||
Daiichi Sankyo Co., Ltd. | 1,700 | 56,507 | ||||||
Daikin Industries, Ltd. | 1,200 | 131,396 | ||||||
Daito Trust Construction Co., Ltd. | 200 | 33,869 | ||||||
Daiwa House Industry Co., Ltd. | 2,600 | 98,768 | ||||||
Daiwa Securities Group, Inc. | 11,000 | 69,951 | ||||||
DeNA Co., Ltd. (b) | 200 | 3,607 | ||||||
Denso Corp. | 2,000 | 108,735 | ||||||
Dentsu, Inc. | 1,200 | 52,468 | ||||||
East Japan Railway Co. | 1,100 | 102,108 | ||||||
Eisai Co., Ltd. | 1,100 | 70,189 | ||||||
FANUC Corp. | 700 | 174,885 | ||||||
Fast Retailing Co., Ltd. | 200 | 78,872 | ||||||
FUJIFILM Holdings Corp. | 600 | 23,673 | ||||||
Fujitsu, Ltd. | 5,000 | 30,042 | ||||||
Fukuoka Financial Group, Inc. | 3,000 | 16,248 | ||||||
Hachijuni Bank Ltd. | 3,100 | 16,673 | ||||||
Hankyu Hanshin Holdings, Inc. | 400 | 14,857 | ||||||
Hitachi Chemical Co., Ltd. | 400 | 8,816 | ||||||
Hitachi, Ltd. | 13,000 | 93,280 | ||||||
Honda Motor Co., Ltd. | 5,600 | 191,722 | ||||||
Hoshizaki Corp. | 200 | 17,640 | ||||||
Hoya Corp. | 1,400 | 69,888 | ||||||
IHI Corp. | 500 | 15,421 | ||||||
Iida Group Holdings Co., Ltd. | 200 | 3,693 | ||||||
Isetan Mitsukoshi Holdings, Ltd. | 1,900 | 20,778 | ||||||
Isuzu Motors, Ltd. | 3,100 | 46,901 | ||||||
ITOCHU Corp. (b) | 7,200 | 138,889 | ||||||
Japan Airport Terminal Co., Ltd. (b) | 300 | 11,509 | ||||||
Japan Exchange Group, Inc. | 300 | 5,543 | ||||||
Japan Post Bank Co., Ltd. (b) | 3,700 | 49,855 | ||||||
Japan Post Holdings Co., Ltd. | 6,332 | 76,508 | ||||||
Japan Real Estate Investment Corp. REIT | 3 | 15,543 |
Security Description | Shares | Value | ||||||
Japan Tobacco, Inc. | 4,700 | $ | 134,128 | |||||
JGC Corp. (b) | 1,400 | 30,014 | ||||||
Kajima Corp. | 6,000 | 55,684 | ||||||
Kamigumi Co., Ltd. | 2,000 | 44,269 | ||||||
Kansai Paint Co., Ltd. | 2,800 | 64,820 | ||||||
Kao Corp. | 1,400 | 104,417 | ||||||
KDDI Corp. | 6,600 | 167,901 | ||||||
Keikyu Corp. | 1,000 | 17,442 | ||||||
Keio Corp. | 400 | 17,076 | ||||||
Keisei Electric Railway Co., Ltd. | 1,000 | 30,465 | ||||||
Keyence Corp. | 300 | 184,767 | ||||||
Kikkoman Corp. | 400 | 16,023 | ||||||
Kirin Holdings Co., Ltd. | 1,700 | 44,974 | ||||||
Koito Manufacturing Co., Ltd. | 600 | 41,354 | ||||||
Komatsu, Ltd. | 3,000 | 98,872 | ||||||
Konami Holdings Corp. | 300 | 15,007 | ||||||
Kose Corp. | 100 | 20,771 | ||||||
Kubota Corp. | 3,600 | 62,454 | ||||||
Kyocera Corp. | 1,000 | 55,731 | ||||||
Lawson, Inc. (b) | 700 | 47,654 | ||||||
Lion Corp. | 100 | 2,036 | ||||||
M3, Inc. (b) | 500 | 22,661 | ||||||
Mabuchi Motor Co., Ltd. | 200 | 9,817 | ||||||
Makita Corp. | 800 | 39,116 | ||||||
Marubeni Corp. | 58,100 | 418,855 | ||||||
Marui Group Co., Ltd. (b) | 500 | 9,967 | ||||||
Mazda Motor Corp. (b) | 1,700 | 22,531 | ||||||
Mebuki Financial Group, Inc. | 6,200 | 23,786 | ||||||
Medipal Holdings Corp. | 1,300 | 26,868 | ||||||
MINEBEA MITSUMI, Inc. | 800 | 16,873 | ||||||
MISUMI Group, Inc. (b) | 1,200 | 32,666 | ||||||
Mitsubishi Corp. | 11,200 | 297,561 | ||||||
Mitsubishi Electric Corp. | 7,000 | 111,862 | ||||||
Mitsubishi Estate Co., Ltd. | 5,000 | 82,276 | ||||||
Mitsubishi Heavy Industries, Ltd. | 1,100 | 41,983 | ||||||
Mitsubishi Motors Corp. (b) | 1,700 | 12,021 | ||||||
Mitsubishi Tanabe Pharma Corp. | 500 | 10,042 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 44,400 | 290,698 | ||||||
Mitsui & Co., Ltd. | 37,600 | 639,925 | ||||||
Mitsui Fudosan Co., Ltd. | 3,800 | 90,471 | ||||||
Mizuho Financial Group, Inc. (b) | 101,800 | 183,307 | ||||||
MS&AD Insurance Group Holdings, Inc. | 1,800 | 55,447 | ||||||
Murata Manufacturing Co., Ltd. | 500 | 68,124 | ||||||
Nabtesco Corp. | 400 | 15,327 | ||||||
NEC Corp. | 600 | 16,700 | ||||||
Nexon Co., Ltd. (c) | 1,200 | 20,186 | ||||||
NGK Spark Plug Co., Ltd. | 600 | 14,268 | ||||||
Nidec Corp. | 900 | 136,248 | ||||||
Nikon Corp. | 1,700 | 30,355 | ||||||
Nintendo Co., Ltd. (b) | 400 | 175,496 | ||||||
Nippon Building Fund, Inc. REIT | 3 | 16,587 | ||||||
Nippon Paint Holdings Co., Ltd. (b) | 1,600 | 58,298 | ||||||
Nippon Telegraph & Telephone Corp. | 2,600 | 119,842 | ||||||
Nissan Chemical Industries, Ltd. | 400 | 16,399 | ||||||
Nissan Motor Co., Ltd. (b) | 6,400 | 65,866 |
34
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Nitori Holdings Co., Ltd. | 300 | $ | 52,144 | |||||
Nitto Denko Corp. | 700 | 52,077 | ||||||
Nomura Holdings, Inc. | 17,000 | 97,700 | ||||||
Nomura Real Estate Holdings, Inc. | 1,200 | 27,825 | ||||||
Nomura Research Institute, Ltd. | 800 | 37,273 | ||||||
NTT Data Corp. | 1,500 | 15,557 | ||||||
NTT DOCOMO, Inc. | 6,000 | 151,735 | ||||||
Obayashi Corp. | 3,700 | 40,218 | ||||||
Odakyu Electric Railway Co., Ltd. (b) | 1,400 | 28,303 | ||||||
Olympus Corp. | 1,200 | 45,360 | ||||||
Omron Corp. (b) | 500 | 28,726 | ||||||
Ono Pharmaceutical Co., Ltd. | 1,400 | 44,139 | ||||||
Oriental Land Co., Ltd. | 1,100 | 111,603 | ||||||
ORIX Corp. | 4,800 | 84,784 | ||||||
Otsuka Holdings Co., Ltd. | 900 | 44,793 | ||||||
Panasonic Corp. | 6,800 | 96,134 | ||||||
Rakuten, Inc. | 5,500 | 45,138 | ||||||
Recruit Holdings Co., Ltd. | 4,500 | 111,030 | ||||||
Renesas Electronics Corp. (c) | 2,600 | 25,694 | ||||||
Resona Holdings, Inc. | 11,900 | 63,209 | ||||||
Rohm Co., Ltd. | 300 | 27,927 | ||||||
Ryohin Keikaku Co., Ltd. | 100 | 33,098 | ||||||
SBI Holdings, Inc. (b) | 1,700 | 39,035 | ||||||
Secom Co., Ltd. | 1,500 | 110,437 | ||||||
Sekisui House, Ltd. | 3,400 | 61,766 | ||||||
Seven & i Holdings Co., Ltd. | 2,300 | 98,012 | ||||||
Seven Bank, Ltd. (b) | 5,300 | 16,844 | ||||||
Sharp Corp. (c) | 700 | 20,733 | ||||||
Shimano, Inc. | 200 | 28,679 | ||||||
Shimizu Corp. | 5,600 | 49,339 | ||||||
Shin-Etsu Chemical Co., Ltd. | 1,700 | 173,836 | ||||||
Shinsei Bank, Ltd. | 600 | 9,236 | ||||||
Shionogi & Co., Ltd. (b) | 800 | 41,260 | ||||||
Shiseido Co., Ltd. | 1,200 | 76,592 | ||||||
Shizuoka Bank, Ltd. | 2,000 | 18,994 | ||||||
SMC Corp. | 200 | 80,094 | ||||||
SoftBank Group Corp. | 3,100 | 227,537 | ||||||
Sohgo Security Services Co., Ltd. | 200 | 9,723 | ||||||
Sompo Holdings, Inc. | 1,700 | 67,792 | ||||||
Sony Corp. | 4,700 | 225,830 | ||||||
Start Today Co., Ltd. | 500 | 12,830 | ||||||
Subaru Corp. | 2,600 | 85,298 | ||||||
Sumitomo Corp. | 4,000 | 66,159 | ||||||
Sumitomo Heavy Industries, Ltd. | 300 | 11,283 | ||||||
Sumitomo Metal Mining Co., Ltd. (b) | 1,400 | 56,935 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 5,900 | 246,929 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 1,700 | 68,783 | ||||||
Sumitomo Realty & Development Co., Ltd. | 1,000 | 36,897 | ||||||
Suntory Beverage & Food, Ltd. | 300 | 14,527 | ||||||
Suzuki Motor Corp. (b) | 1,700 | 91,162 | ||||||
Sysmex Corp. | 500 | 44,852 | ||||||
T&D Holdings, Inc. | 1,100 | 17,309 | ||||||
Taisei Corp. | 1,300 | 65,764 |
Security Description | Shares | Value | ||||||
Takeda Pharmaceutical Co., Ltd. | 3,000 | $ | 144,429 | |||||
Terumo Corp. | 1,100 | 56,681 | ||||||
Toho Gas Co., Ltd. (b) | 3,200 | 99,144 | ||||||
Tokio Marine Holdings, Inc. | 3,000 | 134,640 | ||||||
Tokyo Electron, Ltd. | 600 | 108,406 | ||||||
Tokyu Corp. | 1,800 | 28,147 | ||||||
Toshiba Corp. (c) | 7,000 | 20,141 | ||||||
TOTO, Ltd. | 800 | 41,298 | ||||||
Toyota Industries Corp. | 800 | 47,842 | ||||||
Toyota Motor Corp. | 9,700 | 624,047 | ||||||
Toyota Tsusho Corp. | 2,500 | 83,333 | ||||||
Trend Micro, Inc. | 200 | 11,603 | ||||||
Unicharm Corp. | 1,000 | 28,669 | ||||||
USS Co., Ltd. | 1,000 | 20,254 | ||||||
Yahoo! Japan Corp. (b) | 5,100 | 23,690 | ||||||
Yakult Honsha Co., Ltd. | 300 | 22,370 | ||||||
Yamaha Corp. | 300 | 12,990 | ||||||
Yamaha Motor Co., Ltd. | 600 | 17,630 | ||||||
Yamato Holdings Co., Ltd. (b) | 200 | 4,983 | ||||||
Yaskawa Electric Corp. | 500 | 22,191 | ||||||
|
| |||||||
12,169,307 | ||||||||
|
| |||||||
LUXEMBOURG — 0.1% | ||||||||
Millicom International Cellular SA SDR | 188 | 12,785 | ||||||
SES SA | 1,540 | 20,805 | ||||||
Tenaris SA | 2,506 | 42,994 | ||||||
|
| |||||||
76,584 | ||||||||
|
| |||||||
MACAU — 0.0% (a) | ||||||||
MGM China Holdings, Ltd. | 6,800 | 17,545 | ||||||
|
| |||||||
MALAYSIA — 0.4% | ||||||||
AMMB Holdings Bhd | 23,300 | 23,372 | ||||||
Astro Malaysia Holdings Bhd | 38,500 | 20,305 | ||||||
Axiata Group Bhd | 16,200 | 22,868 | ||||||
British American Tobacco Malaysia Bhd | 900 | 6,119 | ||||||
CIMB Group Holdings Bhd | 21,820 | 40,391 | ||||||
Dialog Group Bhd | 67,300 | 51,502 | ||||||
Gamuda Bhd | 23,100 | 30,756 | ||||||
IHH Healthcare Bhd | 12,900 | 20,010 | ||||||
IOI Properties Group Bhd | 8,712 | 3,626 | ||||||
Malayan Banking Bhd | 23,144 | 62,946 | ||||||
Maxis Bhd | 11,000 | 16,153 | ||||||
Petronas Chemicals Group Bhd | 200 | 421 | ||||||
Petronas Dagangan Bhd | 17,900 | 114,305 | ||||||
PPB Group Bhd | 11,100 | 54,926 | ||||||
Sapura Energy Bhd | 1,000 | 131 | ||||||
Telekom Malaysia Bhd | 13,400 | 18,049 | ||||||
Westports Holdings Bhd | 65,162 | 59,468 | ||||||
|
| |||||||
545,348 | ||||||||
|
| |||||||
MEXICO — 0.4% | ||||||||
America Movil SAB de CV Series L | 78,072 | 73,780 | ||||||
Arca Continental SAB de CV | 3,200 | 22,038 | ||||||
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand Class B (b) | 14,700 | 21,059 |
35
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Coca-Cola Femsa SAB de CV Series L | 1,687 | $ | 11,112 | |||||
Fibra Uno Administracion SA de CV REIT | 22,096 | 33,119 | ||||||
Fomento Economico Mexicano SAB de CV | 6,730 | 61,137 | ||||||
Fresnillo PLC | 3,196 | 56,871 | ||||||
Grupo Aeroportuario del Pacifico SAB de CV Class B | 1,687 | 16,602 | ||||||
Grupo Aeroportuario del Sureste SAB de CV Class B | 3,014 | 50,596 | ||||||
Grupo Financiero Banorte SAB de CV Series O | 9,862 | 60,041 | ||||||
Grupo Financiero Inbursa SAB de CV Series O (b) | 13,000 | 21,430 | ||||||
Grupo Mexico SAB de CV Series B | 3,743 | 12,416 | ||||||
Grupo Televisa SAB Series CPO (b) | 6,730 | 21,322 | ||||||
Promotora y Operadora de Infraestructura SAB de CV | 4,364 | 43,211 | ||||||
Wal-Mart de Mexico SAB de CV | 23,537 | 59,650 | ||||||
|
| |||||||
564,384 | ||||||||
|
| |||||||
NETHERLANDS — 0.8% | ||||||||
ABN AMRO Group NV (e) | 833 | 25,069 | ||||||
Aegon NV | 5,830 | 39,263 | ||||||
Altice NV Class A (b) (c) | 1,214 | 10,000 | ||||||
ASML Holding NV | 1,309 | 257,821 | ||||||
Heineken NV | 647 | 69,466 | ||||||
ING Groep NV | 10,199 | 171,843 | ||||||
Koninklijke Ahold Delhaize NV | 2,107 | 49,862 | ||||||
Koninklijke DSM NV | 1,050 | 104,134 | ||||||
Koninklijke KPN NV | 10,916 | 32,717 | ||||||
Koninklijke Philips NV | 3,836 | 147,027 | ||||||
Koninklijke Vopak NV | 219 | 10,733 | ||||||
NN Group NV | 1,683 | 74,597 | ||||||
NXP Semiconductors NV (c) | 1,038 | 121,446 | ||||||
Randstad Holding NV (b) | 782 | 51,376 | ||||||
Royal Dutch Shell PLC Class A | 2 | 63 | ||||||
Wolters Kluwer NV | 1,018 | 54,073 | ||||||
|
| |||||||
1,219,490 | ||||||||
|
| |||||||
NEW ZEALAND — 0.1% | ||||||||
Meridian Energy, Ltd. | 47,457 | 97,742 | ||||||
|
| |||||||
NORWAY — 0.3% | ||||||||
DNB ASA | 6,309 | 122,267 | ||||||
Gjensidige Forsikring ASA | 3,195 | 58,439 | ||||||
Marine Harvest ASA | 4,395 | 88,001 | ||||||
Orkla ASA | 8,052 | 86,295 | ||||||
Schibsted ASA Class B | 877 | 22,185 | ||||||
Telenor ASA | 5,682 | 128,101 | ||||||
|
| |||||||
505,288 | ||||||||
|
| |||||||
PERU — 0.1% | ||||||||
Cia de Minas Buenaventura SAA ADR | 260 | 3,960 | ||||||
Southern Copper Corp. (b) | 3,484 | 188,763 | ||||||
|
| |||||||
192,723 | ||||||||
|
|
Security Description | Shares | Value | ||||||
PHILIPPINES — 0.1% | ||||||||
International Container Terminal Services, Inc. | 3,400 | $ | 6,516 | |||||
PLDT, Inc. | 425 | 11,973 | ||||||
SM Investments Corp. | 1,970 | 34,622 | ||||||
SM Prime Holdings, Inc. | 32,300 | 20,862 | ||||||
Universal Robina Corp. | 2,040 | 5,943 | ||||||
|
| |||||||
79,916 | ||||||||
|
| |||||||
POLAND — 0.1% | ||||||||
Bank Pekao SA | 1,113 | 40,064 | ||||||
Bank Zachodni WBK SA | 136 | 14,381 | ||||||
CCC SA | 182 | 12,391 | ||||||
Cyfrowy Polsat SA | 1,224 | 8,912 | ||||||
LPP SA | 12 | 30,479 | ||||||
mBank SA (c) | 68 | 8,314 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA (c) | 4,444 | 52,467 | ||||||
Powszechny Zaklad Ubezpieczen SA | 3,655 | 44,550 | ||||||
|
| |||||||
211,558 | ||||||||
|
| |||||||
PORTUGAL — 0.1% | ||||||||
Galp Energia SGPS SA | 8,029 | 151,129 | ||||||
|
| |||||||
QATAR — 0.1% | ||||||||
Barwa Real Estate Co. | 5,815 | 53,488 | ||||||
Commercial Bank PQSC | 2,179 | 17,949 | ||||||
Ezdan Holding Group QSC | 6,804 | 19,616 | ||||||
Qatar National Bank QPSC | 522 | 18,632 | ||||||
|
| |||||||
109,685 | ||||||||
|
| |||||||
ROMANIA — 0.0% (a) | ||||||||
NEPI Rockcastle PLC | 1,449 | 14,064 | ||||||
|
| |||||||
RUSSIA — 0.3% | ||||||||
Magnit PJSC GDR | 1,985 | 36,593 | ||||||
Mobile TeleSystems PJSC ADR | 5,044 | 57,451 | ||||||
Moscow Exchange MICEX-RTS PJSC | 30,397 | 61,915 | ||||||
Sberbank of Russia PJSC ADR | 14,693 | 273,731 | ||||||
VTB Bank PJSC GDR | 20,690 | 40,511 | ||||||
|
| |||||||
470,201 | ||||||||
|
| |||||||
SINGAPORE — 0.6% | ||||||||
Broadcom, Ltd. | 1,524 | 359,131 | ||||||
City Developments, Ltd. | 1,832 | 18,162 | ||||||
DBS Group Holdings, Ltd. | 6,549 | 137,343 | ||||||
Genting Singapore PLC | 34,000 | 28,003 | ||||||
Hutchison Port Holdings Trust | 78,000 | 23,010 | ||||||
Jardine Cycle & Carriage, Ltd. | 784 | 20,627 | ||||||
Oversea-Chinese Banking Corp., Ltd. | 9,708 | 94,911 | ||||||
SATS, Ltd. | 6,200 | 24,255 | ||||||
Singapore Press Holdings, Ltd. (b) | 13,100 | 25,175 | ||||||
Singapore Technologies Engineering, Ltd. | 9,000 | 24,640 | ||||||
Singapore Telecommunications, Ltd. | 44,129 | 113,410 | ||||||
United Overseas Bank, Ltd. | 3,554 | 74,533 | ||||||
UOL Group, Ltd. | 2,892 | 18,856 | ||||||
|
| |||||||
962,056 | ||||||||
|
|
36
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SOUTH AFRICA — 0.9% | ||||||||
Aspen Pharmacare Holdings, Ltd. | 1,579 | $ | 34,576 | |||||
Barclays Africa Group, Ltd. | 3,455 | 55,315 | ||||||
Bid Corp., Ltd. | 1,657 | 36,045 | ||||||
Brait SE (b) (c) | 9,239 | 28,149 | ||||||
Discovery, Ltd. | 1,173 | 16,879 | ||||||
FirstRand, Ltd. (b) | 17,502 | 98,819 | ||||||
Fortress REIT, Ltd. Class A, | 22,317 | 30,117 | ||||||
Growthpoint Properties, Ltd. REIT (b) | 32,009 | 76,749 | ||||||
Hyprop Investments, Ltd. | 2,053 | 18,751 | ||||||
Investec PLC | 5,644 | 43,514 | ||||||
Investec, Ltd. | 1,825 | 14,213 | ||||||
Liberty Holdings, Ltd. (b) | 2,205 | 23,364 | ||||||
Mediclinic International PLC (b) | 1,509 | 12,722 | ||||||
MMI Holdings, Ltd. | 15,027 | 27,876 | ||||||
Mr. Price Group, Ltd. | 1,788 | 43,007 | ||||||
MTN Group, Ltd. | 6,994 | 70,254 | ||||||
Naspers, Ltd. Class N | 1,534 | 374,393 | ||||||
Nedbank Group, Ltd. (b) | 1,241 | 29,907 | ||||||
Redefine Properties, Ltd. REIT | 52,463 | 51,317 | ||||||
Resilient REIT, Ltd. | 1,877 | 7,921 | ||||||
RMB Holdings, Ltd. | 6,790 | 44,211 | ||||||
Sanlam, Ltd. (b) | 10,773 | 77,556 | ||||||
SPAR Group, Ltd. | 1,590 | 27,182 | ||||||
Standard Bank Group, Ltd. (b) | 5,561 | 102,634 | ||||||
Steinhoff International Holdings NV | 15,597 | 4,344 | ||||||
Truworths International, Ltd. | 1,673 | 15,183 | ||||||
Vodacom Group, Ltd. | 2,418 | 31,237 | ||||||
|
| |||||||
1,396,235 | ||||||||
|
| |||||||
SOUTH KOREA — 1.7% | ||||||||
Amorepacific Corp. | 147 | 42,339 | ||||||
Amorepacific Corp. Preference Shares | 52 | 7,806 | ||||||
AMOREPACIFIC Group | 130 | 16,709 | ||||||
BNK Financial Group, Inc. | 2,348 | 23,460 | ||||||
Celltrion, Inc. (c) | 293 | 87,139 | ||||||
Coway Co., Ltd. | 130 | 10,708 | ||||||
Daelim Industrial Co., Ltd. | 492 | 33,972 | ||||||
Daewoo Engineering & Construction Co., Ltd. (c) | 4,883 | 23,868 | ||||||
Dongsuh Cos., Inc. | 900 | 21,996 | ||||||
Hana Financial Group, Inc. | 916 | 39,187 | ||||||
Hanssem Co., Ltd. | 40 | 5,629 | ||||||
Hanwha Corp. | 371 | 13,696 | ||||||
Hanwha Life Insurance Co., Ltd. | 897 | 5,285 | ||||||
Hotel Shilla Co., Ltd. | 202 | 17,435 | ||||||
Hyundai Engineering & Construction Co., Ltd. | 910 | 36,369 | ||||||
Hyundai Glovis Co., Ltd. | 352 | 60,103 | ||||||
Hyundai Heavy Industries Co., Ltd. (c) | 679 | 87,590 | ||||||
Hyundai Mobis Co., Ltd. | 299 | 71,251 | ||||||
Hyundai Motor Co. | 228 | 30,695 | ||||||
Hyundai Motor Co. Preference Shares (d) | 395 | 34,538 | ||||||
Hyundai Motor Co. Preference Shares (d) | 404 | 32,710 |
Security Description | Shares | Value | ||||||
Hyundai Robotics Co., Ltd. (c) | 42 | $ | 16,786 | |||||
Industrial Bank of Korea | 897 | 13,128 | ||||||
Kakao Corp. | 194 | 23,570 | ||||||
Kangwon Land, Inc. | 840 | 21,475 | ||||||
KB Financial Group, Inc. | 1,125 | 65,015 | ||||||
KEPCO Plant Service & Engineering Co., Ltd. | 174 | 7,411 | ||||||
Kia Motors Corp. | 827 | 24,711 | ||||||
Korea Aerospace Industries, Ltd. (c) | 570 | 26,711 | ||||||
Korea Gas Corp. (c) | 1,437 | 65,453 | ||||||
Korea Zinc Co., Ltd. | 37 | 16,731 | ||||||
KT&G Corp. | 758 | 71,114 | ||||||
LG Electronics, Inc. | 398 | 40,700 | ||||||
LG Household & Health Care, Ltd. | 34 | 38,022 | ||||||
LG Household & Health Care, Ltd. Preference Shares | 13 | 8,562 | ||||||
Mirae Asset Daewoo Co., Ltd. | 2,070 | 17,886 | ||||||
NAVER Corp. | 102 | 75,215 | ||||||
NCSoft Corp. | 52 | 20,002 | ||||||
Orion Corp/Republic of Korea | 85 | 10,207 | ||||||
S-1 Corp. | 104 | 9,367 | ||||||
Samsung Biologics Co., Ltd. (c) (e) | 77 | 35,108 | ||||||
Samsung C&T Corp. | 370 | 47,556 | ||||||
Samsung Card Co., Ltd. | 156 | 5,247 | ||||||
Samsung Electronics Co., Ltd. Preference Shares | 65 | 123,487 | ||||||
Samsung Electronics Co., Ltd. | 324 | 745,331 | ||||||
Samsung Fire & Marine Insurance Co., Ltd. | 119 | 29,920 | ||||||
Samsung Life Insurance Co., Ltd. | 255 | 27,632 | ||||||
Samsung SDI Co., Ltd. | 91 | 16,306 | ||||||
Samsung SDS Co., Ltd. | 101 | 23,926 | ||||||
Samsung Securities Co., Ltd. | 206 | 7,595 | ||||||
Shinhan Financial Group Co., Ltd. | 1,079 | 45,705 | ||||||
SillaJen, Inc. (c) | 202 | 20,297 | ||||||
SK Holdings Co., Ltd. | 223 | 62,450 | ||||||
SK Hynix, Inc. | 1,902 | 143,288 | ||||||
SK Telecom Co., Ltd. | 65 | 14,026 | ||||||
Woori Bank | 1,417 | 19,143 | ||||||
|
| |||||||
2,641,568 | ||||||||
|
| |||||||
SPAIN — 1.2% | ||||||||
Abertis Infraestructuras SA | 5,853 | 131,153 | ||||||
Aena SME SA (e) | 495 | 99,626 | ||||||
Amadeus IT Group SA | 1,476 | 108,879 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 23,768 | 187,927 | ||||||
Banco de Sabadell SA | 13,364 | 27,300 | ||||||
Banco Santander SA | 55,415 | 360,866 | ||||||
Bankia SA (b) | 1,370 | 6,131 | ||||||
CaixaBank SA | 5,160 | 24,572 | ||||||
Enagas SA | 2,589 | 70,782 | ||||||
Ferrovial SA | 3,310 | 69,061 | ||||||
Industria de Diseno Textil SA | 5,403 | 168,980 | ||||||
Mapfre SA | 7,399 | 24,578 | ||||||
Red Electrica Corp. SA | 10,370 | 213,367 | ||||||
Siemens Gamesa Renewable Energy SA (b) | 2,650 | 42,450 |
37
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Telefonica SA | 21,559 | $ | 212,857 | |||||
|
| |||||||
1,748,529 | ||||||||
|
| |||||||
SWEDEN — 0.9% | ||||||||
Alfa Laval AB | 1,343 | 31,615 | ||||||
Assa Abloy AB Class B | 5,247 | 112,993 | ||||||
Atlas Copco AB Class A | 1,202 | 51,842 | ||||||
Atlas Copco AB Class B | 3,011 | 116,668 | ||||||
Autoliv, Inc. | 272 | 39,696 | ||||||
Boliden AB | 5,404 | 188,741 | ||||||
Electrolux AB Class B | 659 | 20,656 | ||||||
Hennes & Mauritz AB Class B (b) | 3,769 | 56,336 | ||||||
Hexagon AB Class B | 731 | 43,294 | ||||||
Industrivarden AB Class C | 2,294 | 53,126 | ||||||
Investor AB Class B | 2,991 | 131,857 | ||||||
Kinnevik AB Class B | 1,507 | 54,055 | ||||||
Nordea Bank AB | 9,165 | 97,507 | ||||||
Sandvik AB | 4,521 | 82,298 | ||||||
Skandinaviska Enskilda Banken AB Class A | 1,465 | 15,296 | ||||||
Skanska AB Class B | 1,832 | 37,330 | ||||||
Svenska Handelsbanken AB Class A | 233 | 2,899 | ||||||
Swedbank AB Class A | 1,120 | 25,008 | ||||||
Tele2 AB Class B | 1,277 | 15,271 | ||||||
Telefonaktiebolaget LM Ericsson Class B (b) | 12,710 | 80,314 | ||||||
Telia Co. AB | 11,749 | 55,008 | ||||||
Volvo AB Class B | 6,926 | 125,911 | ||||||
|
| |||||||
1,437,721 | ||||||||
|
| |||||||
SWITZERLAND — 2.6% | ||||||||
ABB, Ltd. | 5,259 | 124,775 | ||||||
Adecco Group AG | 782 | 55,530 | ||||||
Chocoladefabriken Lindt & Spruengli AG | 3 | 18,562 | ||||||
Cie Financiere Richemont SA | 1,873 | 167,741 | ||||||
Credit Suisse Group AG (c) | 8,342 | 139,295 | ||||||
EMS-Chemie Holding AG | 52 | 32,744 | ||||||
Ferguson PLC | 1,134 | 85,170 | ||||||
Geberit AG | 119 | 52,491 | ||||||
Givaudan SA | 66 | 149,975 | ||||||
Kuehne + Nagel International AG | 384 | 60,271 | ||||||
Lonza Group AG (c) | 124 | 29,161 | ||||||
Nestle SA | 10,933 | 863,360 | ||||||
Novartis AG | 7,418 | 598,491 | ||||||
Roche Holding AG | 2,349 | 537,454 | ||||||
SGS SA | 3 | 7,356 | ||||||
Sika AG | 16 | 125,063 | ||||||
STMicroelectronics NV | 2,177 | 48,153 | ||||||
Swatch Group AG | 706 | 59,018 | ||||||
Swiss Life Holding AG (c) | 48 | 17,057 | ||||||
Swiss Re AG | 1,371 | 139,276 | ||||||
Swisscom AG | 87 | 43,027 | ||||||
TE Connectivity, Ltd. | 1,406 | 140,459 | ||||||
UBS Group AG (c) | 11,924 | 209,131 | ||||||
Vifor Pharma AG | 131 | 20,144 | ||||||
Zurich Insurance Group AG (c) | 561 | 183,602 | ||||||
|
| |||||||
3,907,306 | ||||||||
|
|
Security Description | Shares | Value | ||||||
TAIWAN — 1.4% | ||||||||
Acer, Inc. (c) | 35,000 | $ | 29,050 | |||||
Advantech Co., Ltd. | 2,199 | 15,763 | ||||||
Asia Pacific Telecom Co., Ltd. (c) | 105,000 | 32,843 | ||||||
Asustek Computer, Inc. | 6,000 | 55,870 | ||||||
Catcher Technology Co., Ltd. | 3,000 | 37,195 | ||||||
Cathay Financial Holding Co., Ltd. | 49,000 | 87,053 | ||||||
Cheng Shin Rubber Industry Co., Ltd. | 12,000 | 19,487 | ||||||
China Development Financial Holding Corp. | 52,000 | 18,369 | ||||||
China Life Insurance Co., Ltd. | 19,620 | 20,355 | ||||||
Chunghwa Telecom Co., Ltd. | 23,000 | 87,955 | ||||||
CTBC Financial Holding Co., Ltd. | 55,359 | 39,682 | ||||||
Delta Electronics, Inc. | 6,000 | 26,752 | ||||||
Eclat Textile Co., Ltd. | 1,020 | 11,894 | ||||||
Fubon Financial Holding Co., Ltd. | 27,000 | 46,394 | ||||||
Hiwin Technologies Corp. | 2,040 | 29,036 | ||||||
Hon Hai Precision Industry Co., Ltd. | 57,820 | 178,475 | ||||||
Hotai Motor Co., Ltd. | 1,000 | 9,963 | ||||||
HTC Corp. (c) | 9,000 | 20,465 | ||||||
Macronix International (c) | 12,000 | 20,208 | ||||||
MediaTek, Inc. | 8,000 | 90,819 | ||||||
Mega Financial Holding Co., Ltd. | 49,922 | 42,890 | ||||||
Novatek Microelectronics Corp. | 4,000 | 18,109 | ||||||
President Chain Store Corp. | 5,000 | 50,245 | ||||||
Quanta Computer, Inc. | 6,000 | 12,100 | ||||||
Ruentex Industries, Ltd. (c) | 13,000 | 25,102 | ||||||
Shin Kong Financial Holding Co., Ltd. | 100,469 | 38,076 | ||||||
SinoPac Financial Holdings Co., Ltd. | 49,000 | 17,310 | ||||||
Synnex Technology International Corp. | 22,000 | 32,822 | ||||||
Taishin Financial Holding Co., Ltd. | 52,000 | 25,503 | ||||||
Taiwan Mobile Co., Ltd. | 7,000 | 26,169 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 88,000 | 736,427 | ||||||
Teco Electric and Machinery Co., Ltd. | 7,000 | 5,774 | ||||||
Uni-President Enterprises Corp. | 40,000 | 93,700 | ||||||
Win Semiconductors Corp. | 2,000 | 21,470 | ||||||
WPG Holdings, Ltd. | 6,000 | 7,758 | ||||||
Yuanta Financial Holding Co., Ltd. | 143,573 | 65,737 | ||||||
|
| |||||||
2,096,820 | ||||||||
|
| |||||||
THAILAND — 0.2% | ||||||||
Advanced Info Service PCL (g) | 3,400 | 22,398 | ||||||
Airports of Thailand PCL (g) | 44,900 | 94,768 | ||||||
Bangkok Bank PCL NVDR | 1,000 | 6,332 | ||||||
Bangkok Expressway & Metro PCL | 85,000 | 19,571 | ||||||
BTS Group Holdings PCL (g) | 43,000 | 11,413 | ||||||
CP ALL PCL (g) | 21,500 | 59,818 | ||||||
Energy Absolute PCL (g) | 12,738 | 17,822 | ||||||
Kasikornbank PCL (g) | 3,400 | 23,160 | ||||||
Kasikornbank PCL NVDR | 400 | 2,712 | ||||||
Minor International PCL NVDR | 16,200 | 19,687 |
38
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Siam Commercial Bank PCL (g) | 6,800 | $ | 30,771 | |||||
|
| |||||||
308,452 | ||||||||
|
| |||||||
TURKEY — 0.1% | ||||||||
Akbank Turk A/S | 9,781 | 23,604 | ||||||
BIM Birlesik Magazalar A/S | 1,415 | 25,486 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S REIT (c) | 29,727 | 18,986 | ||||||
TAV Havalimanlari Holding A/S | 1,020 | 6,092 | ||||||
Turkcell Iletisim Hizmetleri A/S | 102 | 388 | ||||||
Turkiye Garanti Bankasi A/S | 9,554 | 26,288 | ||||||
Turkiye Halk Bankasi A/S | 2,030 | 4,638 | ||||||
Turkiye Is Bankasi A/S Class C | 16,543 | 29,775 | ||||||
Yapi ve Kredi Bankasi A/S (c) | 20,108 | 22,588 | ||||||
|
| |||||||
157,845 | ||||||||
|
| |||||||
UNITED ARAB EMIRATES — 0.1% | ||||||||
Aldar Properties PJSC | 6,484 | 3,760 | ||||||
DP World, Ltd. | 644 | 14,490 | ||||||
Emaar Properties PJSC | 15,328 | 24,204 | ||||||
Emirates Telecommunications Group Co. PJSC | 6,597 | 31,701 | ||||||
First Abu Dhabi Bank PJSC | 1,353 | 4,310 | ||||||
|
| |||||||
78,465 | ||||||||
|
| |||||||
UNITED KINGDOM — 5.5% | ||||||||
3i Group PLC | 6,766 | 81,531 | ||||||
Ashtead Group PLC | 1,699 | 46,237 | ||||||
Associated British Foods PLC | 617 | 21,560 | ||||||
AstraZeneca PLC | 4,407 | 302,647 | ||||||
Auto Trader Group PLC (e) | 3,126 | 15,374 | ||||||
Aviva PLC | 19,325 | 134,434 | ||||||
Babcock International Group PLC | 537 | 5,038 | ||||||
BAE Systems PLC | 9,258 | 75,507 | ||||||
Barclays PLC | 58,877 | 170,554 | ||||||
Barratt Developments PLC | 5,176 | 38,512 | ||||||
Berkeley Group Holdings PLC | 657 | 34,921 | ||||||
British American Tobacco PLC ADR | 2,066 | 119,188 | ||||||
British American Tobacco PLC | 6,536 | 378,759 | ||||||
British Land Co. PLC REIT | 9,050 | 81,504 | ||||||
BT Group PLC | 36,952 | 117,927 | ||||||
Bunzl PLC | 1,557 | 45,758 | ||||||
Burberry Group PLC | 1,873 | 44,561 | ||||||
Capita PLC | 3,097 | 6,258 | ||||||
CNH Industrial NV | 3,424 | 42,236 | ||||||
Cobham PLC (c) | 9,045 | 15,594 | ||||||
Coca-Cola European Partners PLC | 333 | 13,873 | ||||||
Compass Group PLC | 7,954 | 162,403 | ||||||
ConvaTec Group PLC (e) | 8,998 | 25,131 | ||||||
Croda International PLC | 664 | 42,549 | ||||||
DCC PLC | 353 | 32,484 | ||||||
Diageo PLC | 10,500 | 355,273 | ||||||
Direct Line Insurance Group PLC | 4,516 | 24,156 | ||||||
Experian PLC | 5,134 | 110,730 | ||||||
Fiat Chrysler Automobiles NV | 3,027 | 61,433 | ||||||
GlaxoSmithKline PLC | 17,742 | 346,945 | ||||||
Hammerson PLC REIT (b) | 6,021 | 45,323 |
Security Description | Shares | Value | ||||||
Hargreaves Lansdown PLC | 561 | $ | 12,851 | |||||
HSBC Holdings PLC | 73,549 | 686,523 | ||||||
IMI PLC | 2,014 | 30,513 | ||||||
Imperial Brands PLC | 4,937 | 168,016 | ||||||
Intertek Group PLC | 717 | 46,871 | ||||||
ITV PLC | 13,129 | 26,549 | ||||||
John Wood Group PLC | 10,783 | 81,683 | ||||||
Johnson Matthey PLC | 1,695 | 72,331 | ||||||
Kingfisher PLC | 8,193 | 33,617 | ||||||
Land Securities Group PLC REIT | 6,549 | 86,091 | ||||||
Legal & General Group PLC | 23,253 | 84,093 | ||||||
Liberty Global PLC Class A (c) | 1,715 | 53,697 | ||||||
Liberty Global PLC Series C (c) | 583 | 17,741 | ||||||
Lloyds Banking Group PLC | 277,973 | 252,136 | ||||||
London Stock Exchange Group PLC | 867 | 50,182 | ||||||
Marks & Spencer Group PLC | 6,628 | 25,123 | ||||||
Meggitt PLC | 5,804 | 35,156 | ||||||
Merlin Entertainments PLC (e) | 3,755 | 18,257 | ||||||
Micro Focus International PLC ADR | 1,420 | 19,937 | ||||||
National Grid PLC | 7,225 | 81,305 | ||||||
Next PLC | 597 | 39,855 | ||||||
Old Mutual PLC | 17,154 | 57,584 | ||||||
Pearson PLC | 5,667 | 59,543 | ||||||
Pentair PLC | 733 | 49,939 | ||||||
Persimmon PLC | 1,477 | 52,420 | ||||||
Prudential PLC | 9,353 | 233,346 | ||||||
Randgold Resources, Ltd. | 573 | 47,280 | ||||||
Reckitt Benckiser Group PLC | 2,741 | 232,012 | ||||||
RELX NV | 4,419 | 91,466 | ||||||
RELX PLC | 5,448 | 111,962 | ||||||
Rolls-Royce Holdings PLC (c) | 7,733 | 94,550 | ||||||
Royal Bank of Scotland Group PLC (c) | 11,652 | 42,302 | ||||||
Royal Mail PLC | 2,656 | 20,149 | ||||||
RSA Insurance Group PLC | 2,894 | 25,576 | ||||||
Sage Group PLC | 4,101 | 36,772 | ||||||
Schroders PLC | 953 | 42,673 | ||||||
Segro PLC REIT | 6,088 | 51,344 | ||||||
Severn Trent PLC | 4,453 | 115,189 | ||||||
Shire PLC | 2,837 | 142,097 | ||||||
Sky PLC | 5,410 | 98,469 | ||||||
Smith & Nephew PLC | 3,575 | 66,750 | ||||||
Smiths Group PLC | 1,398 | 29,681 | ||||||
St James’s Place PLC | 1,340 | 20,423 | ||||||
Standard Chartered PLC | 12,814 | 128,111 | ||||||
Standard Life Aberdeen PLC | 14,942 | 75,395 | ||||||
Taylor Wimpey PLC | 13,813 | 35,770 | ||||||
TechnipFMC PLC (d) | 3,149 | 92,738 | ||||||
TechnipFMC PLC (d) | 3,708 | 107,760 | ||||||
Tesco PLC | 13,010 | 37,578 | ||||||
Travis Perkins PLC | 1,602 | 27,731 | ||||||
Unilever NV | 5,264 | 296,959 | ||||||
Unilever PLC | 4,651 | 258,074 | ||||||
United Utilities Group PLC | 18,697 | 187,636 | ||||||
Vodafone Group PLC | 122,281 | 333,157 | ||||||
Weir Group PLC | 1,347 | 37,687 | ||||||
Whitbread PLC | 884 | 45,883 |
39
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SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
WPP PLC | 5,536 | $ | 87,949 | |||||
|
| |||||||
8,394,882 | ||||||||
|
| |||||||
UNITED STATES — 51.7% | ||||||||
3M Co. | 2,051 | 450,236 | ||||||
Abbott Laboratories | 6,650 | 398,468 | ||||||
AbbVie, Inc. | 5,330 | 504,485 | ||||||
Accenture PLC Class A | 2,303 | 353,511 | ||||||
Activision Blizzard, Inc. | 2,339 | 157,789 | ||||||
Acuity Brands, Inc. (b) | 140 | 19,487 | ||||||
Adobe Systems, Inc. (c) | 1,715 | 370,577 | ||||||
Advance Auto Parts, Inc. | 221 | 26,200 | ||||||
Advanced Micro Devices, Inc. (b) (c) | 2,800 | 28,140 | ||||||
Aetna, Inc. | 1,323 | 223,587 | ||||||
Affiliated Managers Group, Inc. | 187 | 35,451 | ||||||
Aflac, Inc. | 3,294 | 144,145 | ||||||
AGCO Corp. | 392 | 25,421 | ||||||
Agilent Technologies, Inc. | 1,231 | 82,354 | ||||||
AGNC Investment Corp. REIT | 2,590 | 49,003 | ||||||
Akamai Technologies, Inc. (c) | 544 | 38,613 | ||||||
Albemarle Corp. (b) | 656 | 60,837 | ||||||
Alexandria Real Estate Equities, Inc. REIT | 260 | 32,471 | ||||||
Alexion Pharmaceuticals, Inc. (c) | 777 | 86,604 | ||||||
Align Technology, Inc. (c) | 260 | 65,294 | ||||||
Alkermes PLC (b) (c) | 437 | 25,329 | ||||||
Alleghany Corp. | 29 | 17,819 | ||||||
Allegion PLC | 400 | 34,116 | ||||||
Allergan PLC | 1,144 | 192,524 | ||||||
Alliance Data Systems Corp. | 170 | 36,186 | ||||||
Allstate Corp. | 1,163 | 110,252 | ||||||
Ally Financial, Inc. | 2,671 | 72,518 | ||||||
Alnylam Pharmaceuticals, Inc. (c) | 200 | 23,820 | ||||||
Alphabet, Inc. Class A (c) | 957 | 992,543 | ||||||
Alphabet, Inc. Class C (c) | 1,084 | 1,118,460 | ||||||
Altria Group, Inc. | 7,267 | 452,879 | ||||||
Amazon.com, Inc. (c) | 1,375 | 1,990,093 | ||||||
AMERCO | 100 | 34,510 | ||||||
American Express Co. | 3,062 | 285,623 | ||||||
American International Group, Inc. | 4,975 | 270,740 | ||||||
American Tower Corp. REIT | 1,456 | 211,615 | ||||||
American Water Works Co., Inc. | 4,196 | 344,618 | ||||||
Ameriprise Financial, Inc. | 488 | 72,195 | ||||||
AmerisourceBergen Corp. | 800 | 68,968 | ||||||
AMETEK, Inc. | 1,077 | 81,820 | ||||||
Amgen, Inc. | 2,541 | 433,190 | ||||||
Amphenol Corp. Class A | 362 | 31,179 | ||||||
Analog Devices, Inc. | 1,652 | 150,547 | ||||||
Andeavor | 1,800 | 181,008 | ||||||
Annaly Capital Management, Inc. REIT | 5,942 | 61,975 | ||||||
ANSYS, Inc. (c) | 132 | 20,683 | ||||||
Anthem, Inc. | 1,103 | 242,329 | ||||||
AO Smith Corp. | 792 | 50,363 | ||||||
Aon PLC | 1,066 | 149,592 | ||||||
Apple, Inc. | 17,425 | 2,923,567 | ||||||
Applied Materials, Inc. | 3,628 | 201,753 | ||||||
Aptiv PLC | 952 | 80,891 | ||||||
Arch Capital Group, Ltd. (c) | 60 | 5,135 |
Security Description | Shares | Value | ||||||
Arista Networks, Inc. (c) | 71 | $ | 18,126 | |||||
Arrow Electronics, Inc. (c) | 200 | 15,404 | ||||||
Assurant, Inc. | 104 | 9,507 | ||||||
AT&T, Inc. | 21,500 | 766,475 | ||||||
Atmos Energy Corp. | 2,592 | 218,350 | ||||||
Autodesk, Inc. (c) | 671 | 84,264 | ||||||
Automatic Data Processing, Inc. | 1,687 | 191,441 | ||||||
AutoZone, Inc. (c) | 119 | 77,194 | ||||||
AvalonBay Communities, Inc. REIT | 493 | 81,079 | ||||||
Avery Dennison Corp. | 565 | 60,031 | ||||||
Avnet, Inc. | 967 | 40,382 | ||||||
Axalta Coating Systems, Ltd. (c) | 3,046 | 91,959 | ||||||
Axis Capital Holdings, Ltd. | 270 | 15,544 | ||||||
Baker Hughes a GE Co. | 4,824 | 133,962 | ||||||
Ball Corp. | 1,014 | 40,266 | ||||||
Bank of America Corp. | 34,890 | 1,046,351 | ||||||
Bank of New York Mellon Corp. | 3,688 | 190,043 | ||||||
Baxter International, Inc. | 1,093 | 71,089 | ||||||
BB&T Corp. | 3,642 | 189,530 | ||||||
Becton Dickinson and Co. | 771 | 167,076 | ||||||
Berkshire Hathaway, Inc. Class B (c) | 2,512 | 501,094 | ||||||
Best Buy Co., Inc. | 891 | 62,361 | ||||||
Biogen, Inc. (c) | 643 | 176,066 | ||||||
BioMarin Pharmaceutical, Inc. (c) | 290 | 23,510 | ||||||
BlackRock, Inc. | 490 | 265,443 | ||||||
Boeing Co. | 2,132 | 699,040 | ||||||
Booking Holdings, Inc. (c) | 187 | 389,033 | ||||||
BorgWarner, Inc. | 683 | 34,307 | ||||||
Boston Properties, Inc. REIT | 391 | 48,179 | ||||||
Boston Scientific Corp. (c) | 5,044 | 137,802 | ||||||
Brighthouse Financial, Inc. (c) | 699 | 35,929 | ||||||
Bristol-Myers Squibb Co. | 5,504 | 348,128 | ||||||
Brixmor Property Group, Inc. REIT | 545 | 8,311 | ||||||
Brown-Forman Corp. Class B | 1,185 | 64,464 | ||||||
C.H. Robinson Worldwide, Inc. | 224 | 20,991 | ||||||
CA, Inc. | 1,373 | 46,545 | ||||||
Cadence Design Systems, Inc. (c) | 524 | 19,267 | ||||||
Camden Property Trust REIT | 60 | 5,051 | ||||||
Campbell Soup Co. (b) | 410 | 17,757 | ||||||
Capital One Financial Corp. | 1,981 | 189,819 | ||||||
Cardinal Health, Inc. | 1,283 | 80,418 | ||||||
CarMax, Inc. (b) (c) | 611 | 37,845 | ||||||
Caterpillar, Inc. | 2,184 | 321,878 | ||||||
CBRE Group, Inc. Class A (c) | 1,792 | 84,618 | ||||||
CBS Corp. Class B | 53 | 2,724 | ||||||
CDW Corp. | 200 | 14,062 | ||||||
Celgene Corp. (c) | 2,626 | 234,265 | ||||||
Centene Corp. (c) | 689 | 73,633 | ||||||
CenturyLink, Inc. | 2,371 | 38,956 | ||||||
Cerner Corp. (c) | 1,354 | 78,532 | ||||||
Charles Schwab Corp. | 3,194 | 166,791 | ||||||
Charter Communications, Inc. Class A (c) | 563 | 175,217 | ||||||
Chemours Co. | 1,200 | 58,452 | ||||||
Cheniere Energy, Inc. (b) (c) | 4,574 | 244,480 | ||||||
Chipotle Mexican Grill, Inc. (b) (c) | 102 | 32,957 | ||||||
Chubb, Ltd. | 1,813 | 247,964 | ||||||
Church & Dwight Co., Inc. | 524 | 26,389 |
40
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SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Cigna Corp. | 994 | $ | 166,734 | |||||
Cincinnati Financial Corp. | 455 | 33,788 | ||||||
Cintas Corp. | 417 | 71,132 | ||||||
Cisco Systems, Inc. | 17,467 | 749,160 | ||||||
CIT Group, Inc. | 1,200 | 61,800 | ||||||
Citigroup, Inc. | 10,098 | 681,615 | ||||||
Citizens Financial Group, Inc. | 2,293 | 96,260 | ||||||
Citrix Systems, Inc. (c) | 544 | 50,483 | ||||||
Clorox Co. | 285 | 37,936 | ||||||
CME Group, Inc. | 905 | 146,375 | ||||||
Coca-Cola Co. | 16,555 | 718,984 | ||||||
Cognex Corp. | 400 | 20,796 | ||||||
Cognizant Technology Solutions Corp. Class A | 2,217 | 178,469 | ||||||
Colgate-Palmolive Co. | 3,098 | 222,065 | ||||||
Colony NorthStar, Inc. Class A, REIT (b) | 4,308 | 24,211 | ||||||
Comcast Corp. Class A | 16,168 | 552,461 | ||||||
Comerica, Inc. | 417 | 40,003 | ||||||
Consolidated Edison, Inc. | 4,046 | 315,345 | ||||||
Constellation Brands, Inc. Class A | 656 | 149,516 | ||||||
Cooper Cos., Inc. | 170 | 38,898 | ||||||
Corning, Inc. | 2,348 | 65,462 | ||||||
CoStar Group, Inc. (c) | 65 | 23,574 | ||||||
Costco Wholesale Corp. | 1,873 | 352,929 | ||||||
Coty, Inc. Class A (b) | 2,126 | 38,906 | ||||||
Crown Castle International Corp. REIT | 1,553 | 170,224 | ||||||
CSX Corp. | 2,734 | 152,311 | ||||||
Cummins, Inc. | 505 | 81,855 | ||||||
CVS Health Corp. | 4,388 | 272,978 | ||||||
D.R. Horton, Inc. | 1,287 | 56,422 | ||||||
Danaher Corp. | 2,352 | 230,284 | ||||||
DaVita, Inc. (c) | 557 | 36,729 | ||||||
Deere & Co. | 912 | 141,652 | ||||||
Dell Technologies, Inc. Class V (c) | 648 | 47,440 | ||||||
Delphi Technologies PLC | 317 | 15,105 | ||||||
DENTSPLY SIRONA, Inc. | 861 | 43,317 | ||||||
Diamondback Energy, Inc. (c) | 1,574 | 199,143 | ||||||
Digital Realty Trust, Inc. REIT | 656 | 69,129 | ||||||
Discover Financial Services | 1,123 | 80,777 | ||||||
Discovery Communications, Inc. Class A (b) (c) | 463 | 9,922 | ||||||
Discovery Communications, Inc. Class C (b) (c) | 470 | 9,174 | ||||||
DISH Network Corp. Class A (c) | 964 | 36,526 | ||||||
Dollar General Corp. | 935 | 87,469 | ||||||
Dollar Tree, Inc. (c) | 800 | 75,920 | ||||||
Domino’s Pizza, Inc. | 260 | 60,726 | ||||||
Dover Corp. | 601 | 59,030 | ||||||
DowDuPont, Inc. | 6,900 | 439,599 | ||||||
Dr. Pepper Snapple Group, Inc. | 282 | 33,383 | ||||||
Duke Realty Corp. REIT | 916 | 24,256 | ||||||
DXC Technology Co. | 1,114 | 111,990 | ||||||
E*TRADE Financial Corp. (c) | 335 | 18,562 | ||||||
East West Bancorp, Inc. | 100 | 6,254 | ||||||
Eaton Corp. PLC | 1,634 | 130,573 | ||||||
eBay, Inc. (c) | 3,624 | 145,830 |
Security Description | Shares | Value | ||||||
Ecolab, Inc. | 2,417 | $ | 331,298 | |||||
Edison International | 3,496 | 222,555 | ||||||
Edwards Lifesciences Corp. (c) | 678 | 94,595 | ||||||
Electronic Arts, Inc. (c) | 952 | 115,420 | ||||||
Eli Lilly & Co. | 3,162 | 244,644 | ||||||
Emerson Electric Co. | 2,638 | 180,175 | ||||||
Equifax, Inc. | 611 | 71,982 | ||||||
Equinix, Inc. REIT | 292 | 122,097 | ||||||
Equity Residential REIT | 1,041 | 64,146 | ||||||
Essex Property Trust, Inc. REIT | 190 | 45,729 | ||||||
Estee Lauder Cos., Inc. Class A | 1,054 | 157,805 | ||||||
Everest Re Group, Ltd. | 131 | 33,643 | ||||||
Eversource Energy | 9,219 | 543,184 | ||||||
Expedia Group, Inc. | 669 | 73,864 | ||||||
Expeditors International of Washington, Inc. | 1,923 | 121,726 | ||||||
Express Scripts Holding Co. (c) | 2,543 | 175,670 | ||||||
Extra Space Storage, Inc. REIT | 224 | 19,569 | ||||||
F5 Networks, Inc. (c) | 21 | 3,037 | ||||||
Facebook, Inc. Class A (c) | 7,865 | 1,256,748 | ||||||
Fastenal Co. (b) | 1,123 | 61,305 | ||||||
Fidelity National Information Services, Inc. | 1,351 | 130,101 | ||||||
Fifth Third Bancorp | 3,362 | 106,744 | ||||||
First Data Corp. Class A (c) | 1,221 | 19,536 | ||||||
First Republic Bank | 231 | 21,393 | ||||||
Fiserv, Inc. (c) | 1,410 | 100,547 | ||||||
FleetCor Technologies, Inc. (c) | 334 | 67,635 | ||||||
FLIR Systems, Inc. | 392 | 19,604 | ||||||
Flowserve Corp. | 799 | 34,621 | ||||||
Fluor Corp. | 1,431 | 81,882 | ||||||
FMC Corp. | 800 | 61,256 | ||||||
FNF Group | 1,125 | 45,023 | ||||||
Ford Motor Co. | 11,210 | 124,207 | ||||||
Fortinet, Inc. (c) | 524 | 28,076 | ||||||
Fortive Corp. | 1,224 | 94,884 | ||||||
Fortune Brands Home & Security, Inc. | 54 | 3,180 | ||||||
Franklin Resources, Inc. | 1,687 | 58,505 | ||||||
Freeport-McMoRan, Inc. (c) | 4,564 | 80,189 | ||||||
Gap, Inc. | 867 | 27,050 | ||||||
Garmin, Ltd. | 459 | 27,049 | ||||||
Gartner, Inc. (c) | 200 | 23,524 | ||||||
General Dynamics Corp. | 1,149 | 253,814 | ||||||
General Electric Co. | 33,200 | 447,536 | ||||||
General Mills, Inc. | 2,111 | 95,122 | ||||||
General Motors Co. | 3,770 | 137,002 | ||||||
Genuine Parts Co. | 392 | 35,217 | ||||||
GGP, Inc. REIT | 1,687 | 34,516 | ||||||
Gilead Sciences, Inc. | 4,652 | 350,714 | ||||||
Global Payments, Inc. | 524 | 58,436 | ||||||
Goldman Sachs Group, Inc. | 1,355 | 341,270 | ||||||
H&R Block, Inc. | 243 | 6,175 | ||||||
Halliburton Co. | 7,272 | 341,348 | ||||||
Hanesbrands, Inc. (b) | 424 | 7,810 | ||||||
Harley-Davidson, Inc. | 765 | 32,803 | ||||||
Harris Corp. | 425 | 68,544 |
41
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SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Hartford Financial Services Group, Inc. | 1,476 | $ | 76,044 | |||||
Hasbro, Inc. | 425 | 35,828 | ||||||
HCA Healthcare, Inc. | 99 | 9,603 | ||||||
HCP, Inc. REIT | 987 | 22,928 | ||||||
HD Supply Holdings, Inc. (c) | 776 | 29,441 | ||||||
Helmerich & Payne, Inc. | 2,238 | 148,961 | ||||||
Henry Schein, Inc. (b) (c) | 32 | 2,151 | ||||||
Hershey Co. | 548 | 54,230 | ||||||
Hewlett Packard Enterprise Co. | 6,086 | 106,748 | ||||||
HollyFrontier Corp. | 4,300 | 210,098 | ||||||
Hologic, Inc. (c) | 712 | 26,600 | ||||||
Home Depot, Inc. | 4,346 | 774,631 | ||||||
Honeywell International, Inc. | 2,553 | 368,934 | ||||||
Hormel Foods Corp. (b) | 316 | 10,845 | ||||||
Host Hotels & Resorts, Inc. REIT | 3,127 | 58,287 | ||||||
HP, Inc. | 5,350 | 117,272 | ||||||
Humana, Inc. | 596 | 160,223 | ||||||
Huntington Bancshares, Inc. | 3,651 | 55,130 | ||||||
Huntington Ingalls Industries, Inc. | 83 | 21,394 | ||||||
IAC/InterActiveCorp (c) | 100 | 15,638 | ||||||
IDEX Corp. | 100 | 14,251 | ||||||
IDEXX Laboratories, Inc. (c) | 260 | 49,761 | ||||||
IHS Markit, Ltd. (c) | 2,119 | 102,221 | ||||||
Illinois Tool Works, Inc. | 1,409 | 220,734 | ||||||
Illumina, Inc. (c) | 459 | 108,517 | ||||||
Incyte Corp. (c) | 421 | 35,082 | ||||||
Ingersoll-Rand PLC | 873 | 74,650 | ||||||
Intel Corp. | 17,195 | 895,516 | ||||||
Intercontinental Exchange, Inc. | 1,559 | 113,059 | ||||||
International Business Machines Corp. | 3,330 | 510,922 | ||||||
International Flavors & Fragrances, Inc. | 632 | 86,527 | ||||||
Interpublic Group of Cos., Inc. | 1,031 | 23,744 | ||||||
Intuit, Inc. | 867 | 150,294 | ||||||
Intuitive Surgical, Inc. (c) | 320 | 132,106 | ||||||
Invesco, Ltd. | 911 | 29,161 | ||||||
Invitation Homes, Inc. REIT | 900 | 20,547 | ||||||
IPG Photonics Corp. (c) | 100 | 23,338 | ||||||
IQVIA Holdings, Inc. (c) | 434 | 42,580 | ||||||
Iron Mountain, Inc. REIT | 344 | 11,304 | ||||||
J.M. Smucker Co. | 611 | 75,770 | ||||||
Jacobs Engineering Group, Inc. | 1,699 | 100,496 | ||||||
Jazz Pharmaceuticals PLC (c) | 4 | 604 | ||||||
Johnson & Johnson | 9,560 | 1,225,114 | ||||||
Johnson Controls International PLC | 3,462 | 122,001 | ||||||
Jones Lang LaSalle, Inc. | 260 | 45,406 | ||||||
JPMorgan Chase & Co. | 11,997 | 1,319,310 | ||||||
Juniper Networks, Inc. | 787 | 19,148 | ||||||
Kellogg Co. (b) | 433 | 28,149 | ||||||
KeyCorp | 3,146 | 61,504 | ||||||
Kimberly-Clark Corp. | 3 | 330 | ||||||
Kimco Realty Corp. REIT | 2,687 | 38,693 | ||||||
Kinder Morgan, Inc. | 6,699 | 100,887 | ||||||
KLA-Tencor Corp. | 360 | 39,244 | ||||||
Knight-Swift Transportation Holdings, Inc. | 400 | 18,404 |
Security Description | Shares | Value | ||||||
Kohl’s Corp. | 61 | $ | 3,996 | |||||
Kraft Heinz Co. | 2,755 | 171,609 | ||||||
L Brands, Inc. | 1,028 | 39,280 | ||||||
L3 Technologies, Inc. | 393 | 81,744 | ||||||
Laboratory Corp. of America Holdings (c) | 285 | 46,099 | ||||||
Lam Research Corp. | 483 | 98,126 | ||||||
Las Vegas Sands Corp. | 1,687 | 121,295 | ||||||
Leidos Holdings, Inc. | 525 | 34,335 | ||||||
Lennar Corp. Class A | 481 | 28,350 | ||||||
Lennox International, Inc. | 200 | 40,874 | ||||||
Liberty Interactive Corp. QVC Group Class A (c) | 1,687 | 42,462 | ||||||
Liberty Media Corp.-Liberty Formula One Class C (b) (c) | 800 | 24,680 | ||||||
Liberty Media Corp.-Liberty SiriusXM Class A (c) | 93 | 3,822 | ||||||
Liberty Media Corp.-Liberty SiriusXM Class C (c) | 475 | 19,404 | ||||||
Lincoln National Corp. | 691 | 50,484 | ||||||
LKQ Corp. (c) | 1,259 | 47,779 | ||||||
Lockheed Martin Corp. | 946 | 319,682 | ||||||
Loews Corp. | 800 | 39,784 | ||||||
Lowe’s Cos., Inc. | 2,966 | 260,267 | ||||||
Lululemon Athletica, Inc. (c) | 392 | 34,935 | ||||||
M&T Bank Corp. | 438 | 80,750 | ||||||
Macerich Co. REIT | 285 | 15,966 | ||||||
Macquarie Infrastructure Corp. | 2,756 | 101,779 | ||||||
ManpowerGroup, Inc. | 505 | 58,126 | ||||||
Marathon Petroleum Corp. | 2,100 | 153,531 | ||||||
Markel Corp. (c) | 18 | 21,065 | ||||||
Marriott International, Inc. Class A | 856 | 116,399 | ||||||
Marsh & McLennan Cos., Inc. | 2,412 | 199,207 | ||||||
Masco Corp. | 1,687 | 68,222 | ||||||
Mastercard, Inc. Class A | 3,414 | 597,996 | ||||||
Mattel, Inc. (b) | 1,291 | 16,977 | ||||||
Maxim Integrated Products, Inc. | 250 | 15,055 | ||||||
McCormick & Co., Inc. | 539 | 57,344 | ||||||
McDonald’s Corp. | 3,097 | 484,309 | ||||||
McKesson Corp. | 884 | 124,529 | ||||||
Medtronic PLC | 4,747 | 380,804 | ||||||
Merck & Co., Inc. | 9,952 | 542,085 | ||||||
MetLife, Inc. | 3,696 | 169,609 | ||||||
MGM Resorts International | 1,560 | 54,631 | ||||||
Michael Kors Holdings, Ltd. (c) | 734 | 45,567 | ||||||
Microchip Technology, Inc. (b) | 724 | 66,145 | ||||||
Micron Technology, Inc. (c) | 3,662 | 190,937 | ||||||
Microsoft Corp. | 24,899 | 2,272,532 | ||||||
Mid-America Apartment Communities, Inc. REIT | 360 | 32,846 | ||||||
Middleby Corp. (c) | 260 | 32,185 | ||||||
Molson Coors Brewing Co. Class B | 842 | 63,428 | ||||||
Mondelez International, Inc. Class A | 6,063 | 253,009 | ||||||
Monsanto Co. | 2,117 | 247,033 | ||||||
Monster Beverage Corp. (c) | 1,524 | 87,188 | ||||||
Moody’s Corp. | 708 | 114,200 | ||||||
Morgan Stanley | 5,060 | 273,038 |
42
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SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Motorola Solutions, Inc. | 491 | $ | 51,702 | |||||
MSCI, Inc. | 200 | 29,894 | ||||||
Mylan NV (c) | 1,687 | 69,454 | ||||||
Nasdaq, Inc. | 51 | 4,397 | ||||||
National Oilwell Varco, Inc. | 4,708 | 173,302 | ||||||
NetApp, Inc. | 1,031 | 63,602 | ||||||
Netflix, Inc. (c) | 1,573 | 464,586 | ||||||
New York Community Bancorp, Inc. | 1,440 | 18,763 | ||||||
Newell Brands, Inc. | 1,704 | 43,418 | ||||||
News Corp. Class A | 2,690 | 42,502 | ||||||
Nielsen Holdings PLC | 2,272 | 72,227 | ||||||
NIKE, Inc. Class B | 4,912 | 326,353 | ||||||
Nordstrom, Inc. | 392 | 18,977 | ||||||
Norfolk Southern Corp. | 500 | 67,890 | ||||||
Northern Trust Corp. | 550 | 56,722 | ||||||
Northrop Grumman Corp. | 594 | 207,377 | ||||||
NVIDIA Corp. | 2,042 | 472,907 | ||||||
NVR, Inc. (c) | 10 | 28,000 | ||||||
Old Dominion Freight Line, Inc. | 400 | 58,788 | ||||||
Omnicom Group, Inc. | 743 | 53,994 | ||||||
ONEOK, Inc. | 10,283 | 585,308 | ||||||
Oracle Corp. | 11,489 | 525,622 | ||||||
O’Reilly Automotive, Inc. (c) | 357 | 88,315 | ||||||
PACCAR, Inc. | 1,187 | 78,544 | ||||||
Palo Alto Networks, Inc. (c) | 337 | 61,172 | ||||||
Parker-Hannifin Corp. | 355 | 60,716 | ||||||
Parsley Energy, Inc. Class A (c) | 1,304 | 37,803 | ||||||
Paychex, Inc. | 1,131 | 69,658 | ||||||
PayPal Holdings, Inc. (c) | 4,127 | 313,116 | ||||||
People’s United Financial, Inc. | 1,000 | 18,660 | ||||||
PepsiCo, Inc. | 5,429 | 592,575 | ||||||
Perrigo Co. PLC | 493 | 41,087 | ||||||
Pfizer, Inc. | 20,715 | 735,175 | ||||||
PG&E Corp. | 2,156 | 94,713 | ||||||
Philip Morris International, Inc. | 5,687 | 565,288 | ||||||
Phillips 66 | 6,681 | 640,842 | ||||||
Pioneer Natural Resources Co. | 333 | 57,203 | ||||||
PNC Financial Services Group, Inc. | 1,873 | 283,273 | ||||||
Polaris Industries, Inc. (b) | 187 | 21,415 | ||||||
PPG Industries, Inc. | 1,606 | 179,230 | ||||||
Principal Financial Group, Inc. | 1,189 | 72,422 | ||||||
Procter & Gamble Co. | 9,284 | 736,036 | ||||||
Progressive Corp. | 1,487 | 90,603 | ||||||
Prologis, Inc. REIT | 2,268 | 142,861 | ||||||
Prudential Financial, Inc. | 1,782 | 184,526 | ||||||
Public Storage REIT | 561 | 112,419 | ||||||
PulteGroup, Inc. | 587 | 17,311 | ||||||
PVH Corp. | 240 | 36,343 | ||||||
Qorvo, Inc. (c) | 304 | 21,417 | ||||||
QUALCOMM, Inc. | 5,529 | 306,362 | ||||||
Quest Diagnostics, Inc. | 510 | 51,153 | ||||||
Ralph Lauren Corp. | 289 | 32,310 | ||||||
Raytheon Co. | 1,170 | 252,509 | ||||||
Realty Income Corp. REIT | 337 | 17,433 | ||||||
Red Hat, Inc. (c) | 476 | 71,167 | ||||||
Regency Centers Corp. REIT | 500 | 29,490 | ||||||
Regeneron Pharmaceuticals, Inc. (c) | 255 | 87,812 | ||||||
Regions Financial Corp. | 4,510 | 83,796 |
Security Description | Shares | Value | ||||||
ResMed, Inc. | 425 | $ | 41,850 | |||||
Robert Half International, Inc. | 961 | 55,632 | ||||||
Rockwell Automation, Inc. | 405 | 70,551 | ||||||
Rockwell Collins, Inc. | 858 | 115,701 | ||||||
Rollins, Inc. | 600 | 30,618 | ||||||
Roper Technologies, Inc. | 461 | 129,398 | ||||||
Ross Stores, Inc. | 1,139 | 88,819 | ||||||
Royal Caribbean Cruises, Ltd. | 85 | 10,008 | ||||||
S&P Global, Inc. | 833 | 159,153 | ||||||
Sabre Corp. | 1,570 | 33,677 | ||||||
salesforce.com, Inc. (c) | 2,186 | 254,232 | ||||||
SBA Communications Corp. REIT (c) | 435 | 74,350 | ||||||
Schlumberger, Ltd. | 8,723 | 565,076 | ||||||
Seagate Technology PLC | 952 | 55,711 | ||||||
Sealed Air Corp. (b) | 1,118 | 47,839 | ||||||
Seattle Genetics, Inc. (b) (c) | 260 | 13,608 | ||||||
Sensata Technologies Holding PLC (c) | 1,034 | 53,592 | ||||||
ServiceNow, Inc. (c) | 512 | 84,710 | ||||||
Sherwin-Williams Co. | 530 | 207,824 | ||||||
Signature Bank (c) | 132 | 18,737 | ||||||
Simon Property Group, Inc. REIT | 1,220 | 188,307 | ||||||
Sirius XM Holdings, Inc. (b) | 4,526 | 28,242 | ||||||
Skyworks Solutions, Inc. | 645 | 64,668 | ||||||
SL Green Realty Corp. REIT | 387 | 37,473 | ||||||
Snap-on, Inc. | 340 | 50,164 | ||||||
Spirit AeroSystems Holdings, Inc. Class A | 500 | 41,850 | ||||||
Splunk, Inc. (c) | 471 | 46,342 | ||||||
Sprint Corp. (b) (c) | 5,133 | 25,049 | ||||||
Square, Inc. Class A (c) | 1,000 | 49,200 | ||||||
SS&C Technologies Holdings, Inc. | 500 | 26,820 | ||||||
Stanley Black & Decker, Inc. | 773 | 118,424 | ||||||
Starbucks Corp. | 5,796 | 335,530 | ||||||
State Street Corp. (h) | 1,155 | 115,188 | ||||||
Stryker Corp. | 1,323 | 212,897 | ||||||
SunTrust Banks, Inc. | 2,211 | 150,436 | ||||||
SVB Financial Group (c) | 200 | 48,002 | ||||||
Symantec Corp. | 2,182 | 56,405 | ||||||
Synchrony Financial | 3,084 | 103,407 | ||||||
Synopsys, Inc. (c) | 356 | 29,633 | ||||||
Sysco Corp. | 2,169 | 130,053 | ||||||
T Rowe Price Group, Inc. | 828 | 89,399 | ||||||
Take-Two Interactive Software, Inc. (c) | 400 | 39,112 | ||||||
Tapestry, Inc. | 997 | 52,452 | ||||||
Target Corp. | 1,287 | 89,356 | ||||||
TD Ameritrade Holding Corp. | 1,019 | 60,355 | ||||||
Teleflex, Inc. | 132 | 33,657 | ||||||
Tesla, Inc. (c) | 553 | 147,170 | ||||||
Texas Instruments, Inc. | 3,562 | 370,056 | ||||||
Textron, Inc. | 719 | 42,399 | ||||||
Thermo Fisher Scientific, Inc. | 1,423 | 293,793 | ||||||
Tiffany & Co. | 544 | 53,127 | ||||||
Time Warner, Inc. | 2,538 | 240,044 | ||||||
TJX Cos., Inc. | 2,375 | 193,705 | ||||||
T-Mobile US, Inc. (c) | 338 | 20,632 |
43
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Toll Brothers, Inc. | 1,010 | $ | 43,683 | |||||
Total System Services, Inc. | 569 | 49,082 | ||||||
Tractor Supply Co. | 425 | 26,784 | ||||||
TransDigm Group, Inc. | 219 | 67,220 | ||||||
TransUnion (c) | 600 | 34,068 | ||||||
Travelers Cos., Inc. | 1,130 | 156,912 | ||||||
Trimble, Inc. (c) | 899 | 32,256 | ||||||
TripAdvisor, Inc. (b) (c) | 391 | 15,988 | ||||||
Twenty-First Century Fox, Inc. Class A | 3,185 | 116,858 | ||||||
Twenty-First Century Fox, Inc. Class B | 1,039 | 37,788 | ||||||
Twitter, Inc. (c) | 2,397 | 69,537 | ||||||
UDR, Inc. REIT | 348 | 12,396 | ||||||
Ulta Salon Cosmetics & Fragrance, Inc. (c) | 172 | 35,134 | ||||||
Under Armour, Inc. Class A (b) (c) | 902 | 14,748 | ||||||
Under Armour, Inc. Class C (b) (c) | 1,512 | 21,697 | ||||||
Union Pacific Corp. | 2,402 | 322,901 | ||||||
United Parcel Service, Inc. Class B | 1,241 | 129,883 | ||||||
United Rentals, Inc. (c) | 359 | 62,010 | ||||||
United Technologies Corp. | 3,252 | 409,167 | ||||||
United Therapeutics Corp. (c) | 132 | 14,832 | ||||||
UnitedHealth Group, Inc. | 3,520 | 753,280 | ||||||
Unum Group | 163 | 7,760 | ||||||
US Bancorp | 6,110 | 308,555 | ||||||
Vail Resorts, Inc. | 100 | 22,170 | ||||||
Valero Energy Corp. | 3,534 | 327,849 | ||||||
Varian Medical Systems, Inc. (c) | 225 | 27,596 | ||||||
Veeva Systems, Inc. Class A (c) | 374 | 27,309 | ||||||
Ventas, Inc. REIT | 814 | 40,317 | ||||||
VEREIT, Inc. REIT | 3,131 | 21,792 | ||||||
Verisk Analytics, Inc. (c) | 827 | 86,008 | ||||||
Verizon Communications, Inc. | 14,049 | 671,823 | ||||||
Vertex Pharmaceuticals, Inc. (c) | 866 | 141,141 | ||||||
VF Corp. | 1,241 | 91,983 | ||||||
Viacom, Inc. Class B | 491 | 15,250 | ||||||
Visa, Inc. Class A | 6,688 | 800,019 | ||||||
VMware, Inc. Class A (b) (c) | 306 | 37,109 | ||||||
Vornado Realty Trust REIT | 388 | 26,112 | ||||||
Voya Financial, Inc. | 1,028 | 51,914 | ||||||
Vulcan Materials Co. | 500 | 57,085 | ||||||
W.W. Grainger, Inc. | 223 | 62,946 | ||||||
WABCO Holdings, Inc. (c) | 260 | 34,806 | ||||||
Wabtec Corp. (b) | 429 | 34,921 | ||||||
Walmart, Inc. | 5,345 | 475,545 | ||||||
Walgreens Boots Alliance, Inc. | 3,752 | 245,643 | ||||||
Walt Disney Co. | 5,671 | 569,595 | ||||||
Waters Corp. (c) | 257 | 51,053 | ||||||
Wells Fargo & Co. | 15,886 | 832,585 | ||||||
Welltower, Inc. REIT | 1,545 | 84,094 | ||||||
Western Digital Corp. | 1,097 | 101,220 | ||||||
Western Union Co. | 1,687 | 32,441 | ||||||
WestRock Co. | 638 | 40,940 | ||||||
Weyerhaeuser Co. REIT | 2,040 | 71,400 | ||||||
Whirlpool Corp. | 204 | 31,234 | ||||||
Willis Towers Watson PLC | 418 | 63,615 | ||||||
Workday, Inc. Class A (c) | 456 | 57,962 |
Security Description | Shares | Value | ||||||
Worldpay, Inc. Class A (c) (d) | 470 | $ | 38,653 | |||||
Worldpay, Inc. Class A (c) (d) | 621 | 50,064 | ||||||
WR Grace & Co. | 500 | 30,615 | ||||||
Wyndham Worldwide Corp. | 208 | 23,801 | ||||||
Wynn Resorts, Ltd. | 389 | 70,938 | ||||||
Xerox Corp. | 1,261 | 36,292 | ||||||
Xilinx, Inc. | 1,031 | 74,479 | ||||||
Xylem, Inc. | 1,518 | 116,765 | ||||||
Zayo Group Holdings, Inc. (c) | 600 | 20,496 | ||||||
Zillow Group, Inc. (b) (c) | 564 | 30,343 | ||||||
Zimmer Biomet Holdings, Inc. | 682 | 74,365 | ||||||
Zions Bancorp | 700 | 36,911 | ||||||
Zoetis, Inc. | 1,398 | 116,747 | ||||||
|
| |||||||
78,333,168 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 150,305,813 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 1.8% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (i) (j) | 345,905 | 345,905 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (i) (k) | 2,338,517 | 2,338,517 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| 2,684,422 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 101.0% |
| 152,990,235 | ||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.0)% |
| (1,577,751 | ) | |||||
|
| |||||||
NET ASSETS — 100.0% |
| $ | 151,412,484 | |||||
|
|
44
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
(a) | Amount shown represents less than 0.05% of net assets. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Non-income producing security. |
(d) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(e) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.4% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(f) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the security is $0, representing 0.0% of the Fund’s net assets. |
(g) | Fair valued as determined ingood faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $260,150 representing 0.2% of net assets. |
(h) | The Fund invested in an affiliated entity, State Street Corp. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(i) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(j) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(k) | Investment of cash collateral for securities loaned. |
ADR | =American Depositary Receipt | |
GDR | =Global Depositary Receipt | |
NVDR | =Non Voting Depositary Receipt | |
REIT | =Real Estate Investment Trust | |
SDR | =Swedish Depositary Receipt |
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Argentina | $ | 47,043 | $ | — | $ | — | $ | 47,043 | ||||||||||||
Australia | 3,031,668 | — | — | 3,031,668 | ||||||||||||||||
Austria | 118,516 | — | — | 118,516 | ||||||||||||||||
Belgium | 487,020 | — | — | 487,020 | ||||||||||||||||
Bermuda | 40,278 | — | — | 40,278 | ||||||||||||||||
Brazil | 1,463,939 | — | — | 1,463,939 | ||||||||||||||||
Canada | 4,674,085 | — | — | 4,674,085 | ||||||||||||||||
Chile | 378,180 | — | — | 378,180 | ||||||||||||||||
China | 5,273,938 | — | — | 5,273,938 | ||||||||||||||||
Colombia | 353,930 | — | — | 353,930 | ||||||||||||||||
Czech Republic | 21,746 | — | — | 21,746 | ||||||||||||||||
Denmark | 735,352 | — | — | 735,352 | ||||||||||||||||
Finland | 431,269 | — | — | 431,269 | ||||||||||||||||
France | 5,452,943 | — | — | 5,452,943 | ||||||||||||||||
Germany | 4,732,899 | — | — | 4,732,899 | ||||||||||||||||
Greece | 25,879 | — | — | 25,879 | ||||||||||||||||
Hong Kong | 1,772,137 | — | 0 | (a) | 1,772,137 | |||||||||||||||
Hungary | 57,317 | — | — | 57,317 | ||||||||||||||||
India | 1,377,639 | — | — | 1,377,639 | ||||||||||||||||
Indonesia | 389,526 | — | — | 389,526 |
45
Table of Contents
SPDR MSCI ACWI LOW CARBON TARGET ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Ireland | $ | 245,153 | $ | — | $ | — | $ | 245,153 | ||||||||||||
Israel | 202,655 | — | — | 202,655 | ||||||||||||||||
Italy | 1,104,690 | — | — | 1,104,690 | ||||||||||||||||
Japan | 12,169,307 | — | — | 12,169,307 | ||||||||||||||||
Luxembourg | 76,584 | — | — | 76,584 | ||||||||||||||||
Macau | 17,545 | — | — | 17,545 | ||||||||||||||||
Malaysia | 545,348 | — | — | 545,348 | ||||||||||||||||
Mexico | 564,384 | — | — | 564,384 | ||||||||||||||||
Netherlands | 1,219,490 | — | — | 1,219,490 | ||||||||||||||||
New Zealand | 97,742 | — | — | 97,742 | ||||||||||||||||
Norway | 505,288 | — | — | 505,288 | ||||||||||||||||
Peru | 192,723 | — | — | 192,723 | ||||||||||||||||
Philippines | 79,916 | — | — | 79,916 | ||||||||||||||||
Poland | 211,558 | — | — | 211,558 | ||||||||||||||||
Portugal | 151,129 | — | — | 151,129 | ||||||||||||||||
Qatar | 109,685 | — | — | 109,685 | ||||||||||||||||
Romania | 14,064 | — | — | 14,064 | ||||||||||||||||
Russia | 470,201 | — | — | 470,201 | ||||||||||||||||
Singapore | 962,056 | — | — | 962,056 | ||||||||||||||||
South Africa | 1,396,235 | — | — | 1,396,235 | ||||||||||||||||
South Korea | 2,641,568 | — | — | 2,641,568 | ||||||||||||||||
Spain | 1,748,529 | — | — | 1,748,529 | ||||||||||||||||
Sweden | 1,437,721 | — | — | 1,437,721 | ||||||||||||||||
Switzerland | 3,907,306 | — | — | 3,907,306 | ||||||||||||||||
Taiwan | 2,096,820 | — | — | 2,096,820 | ||||||||||||||||
Thailand | 48,302 | 260,150 | — | 308,452 | ||||||||||||||||
Turkey | 157,845 | — | — | 157,845 | ||||||||||||||||
United Arab Emirates | 78,465 | — | — | 78,465 | ||||||||||||||||
United Kingdom | 8,394,882 | — | — | 8,394,882 | ||||||||||||||||
United States | 78,333,168 | — | — | 78,333,168 | ||||||||||||||||
Short-Term Investments | 2,684,422 | — | — | 2,684,422 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 152,730,085 | $ | 260,150 | $ | 0 | $ | 152,990,235 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held a Level 3 security that was valued at $0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Corp. | 1,555 | $ | 148,565 | $ | — | $ | 38,137 | $ | 6,070 | $ | (1,310 | ) | 1,155 | $ | 115,188 | $ | 970 | $ | — | |||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 215,632 | 215,632 | 2,057,884 | 1,927,611 | — | — | 345,905 | 345,905 | 1,318 | — | ||||||||||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 378,038 | 378,038 | 9,317,082 | 7,356,603 | — | — | 2,338,517 | 2,338,517 | 4,991 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 742,235 | $ | 11,374,966 | $ | 9,322,351 | $ | 6,070 | $ | (1,310 | ) | $ | 2,799,610 | $ | 7,279 | $ | — | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
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|
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|
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46
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.4% | ||||||||
BRAZIL — 5.4% | ||||||||
Ambev SA ADR | 511,700 | $ | 3,720,060 | |||||
Ambev SA | 91,431 | 662,157 | ||||||
Atacadao Distribuicao Comercio e Industria Ltda (a) | 8,095 | 36,534 | ||||||
B3 SA - Brasil Bolsa Balcao | 20,926 | 168,045 | ||||||
Banco Bradesco SA Preference Shares | 70,202 | 834,330 | ||||||
Banco Bradesco SA | 23,883 | 276,441 | ||||||
Banco do Brasil SA | 32,705 | 403,745 | ||||||
Banco Santander Brasil SA | 10,656 | 127,958 | ||||||
BB Seguridade Participacoes SA | 83,636 | 736,558 | ||||||
BR Malls Participacoes SA | 10,262 | 35,971 | ||||||
Braskem SA Class A, Preference Shares | 3,539 | 51,111 | ||||||
BRF SA (a) | 1,694 | 11,636 | ||||||
BRF SA ADR (a) (b) | 5,348 | 37,008 | ||||||
CCR SA | 9,596 | 36,090 | ||||||
Centrais Eletricas Brasileiras SA (a) | 6,991 | 44,172 | ||||||
Centrais Eletricas Brasileiras SA ADR (b) | 7,506 | 54,569 | ||||||
Centrais Eletricas Brasileiras SA Class B, Preference Shares | 490 | 3,553 | ||||||
Cia Brasileira de Distribuicao ADR | 2,242 | 45,288 | ||||||
Cia Brasileira de Distribuicao Preference Shares | 600 | 12,014 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo | 2,402 | 25,295 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo ADR | 5,039 | 53,363 | ||||||
Cia Energetica de Minas Gerais ADR (b) | 36,621 | 94,482 | ||||||
Cia Energetica de Minas Gerais Preference Shares | 5,447 | 14,029 | ||||||
Cia Energetica de Minas Gerais (a) (c) | 868 | 2,243 | ||||||
Cia Energetica de Minas Gerais (a) (c) | 50 | 119 | ||||||
Cia Siderurgica Nacional SA ADR (a) (b) | 13,569 | 35,686 | ||||||
Cia Siderurgica Nacional SA (a) | 1,232 | 3,262 | ||||||
Cielo SA | 173,610 | 1,080,753 | ||||||
Cosan SA Industria e Comercio | 2,554 | 31,898 | ||||||
EDP - Energias do Brasil SA | 7,240 | 28,994 | ||||||
Embraer SA | 980 | 6,354 | ||||||
Embraer SA ADR | 4,338 | 112,788 | ||||||
Engie Brasil Energia SA | 16,843 | 198,451 | ||||||
Equatorial Energia SA | 18,601 | 400,160 | ||||||
Fibria Celulose SA ADR | 4,411 | 86,015 | ||||||
Gerdau SA Preference Shares | 25,538 | 119,099 | ||||||
Hypera SA | 982 | 10,684 | ||||||
Itau Unibanco Holding SA Preference Shares ADR | 70,791 | 1,104,340 | ||||||
Itau Unibanco Holding SA Preference Shares | 2,177 | 33,609 |
Security Description | Shares | Value | ||||||
Itausa - Investimentos Itau SA Preference Shares | 433,691 | $ | 1,799,434 | |||||
Itausa - Investimentos Itau SA (a) | 7,958 | 33,019 | ||||||
JBS SA | 68,570 | 192,902 | ||||||
Klabin SA | 6,163 | 38,384 | ||||||
Kroton Educacional SA | 19,138 | 78,312 | ||||||
Localiza Rent a Car SA | 2,745 | 23,720 | ||||||
Lojas Americanas SA Preference Shares | 5,401 | 30,616 | ||||||
Lojas Renner SA | 66,191 | 684,096 | ||||||
M Dias Branco SA | 10,471 | 160,707 | ||||||
Multiplan Empreendimentos Imobiliarios SA | 210 | 4,340 | ||||||
Natura Cosmeticos SA | 604 | 5,815 | ||||||
Odontoprev SA | 28,748 | 129,139 | ||||||
Petroleo Brasileiro SA Preference Shares ADR (a) | 35,827 | 465,393 | ||||||
Petroleo Brasileiro SA ADR (a) | 32,618 | 461,219 | ||||||
Petroleo Brasileiro SA Preference Shares (a) | 43,809 | 282,209 | ||||||
Petroleo Brasileiro SA (a) | 19,893 | 139,818 | ||||||
Porto Seguro SA | 2,384 | 34,832 | ||||||
Qualicorp SA | 746 | 5,001 | ||||||
Raia Drogasil SA | 15,816 | 355,950 | ||||||
Rumo SA (a) | 9,785 | 38,715 | ||||||
Sul America SA | 20,568 | 135,837 | ||||||
Suzano Papel e Celulose SA | 4,228 | 42,438 | ||||||
Telefonica Brasil SA ADR | 7,901 | 121,359 | ||||||
Telefonica Brasil SA Preference Shares | 712 | 10,797 | ||||||
Tim Participacoes SA ADR (b) | 3,931 | 85,185 | ||||||
TIM Participacoes SA | 1,806 | 7,825 | ||||||
Transmissora Alianca de Energia Eletrica SA | 1,570 | 10,265 | ||||||
Ultrapar Participacoes SA | 429 | 9,154 | ||||||
Ultrapar Participacoes SA ADR | 5,354 | 115,754 | ||||||
Vale SA ADR (b) | 33,563 | 426,921 | ||||||
Vale SA | 20,902 | 265,457 | ||||||
WEG SA | 42,347 | 288,081 | ||||||
|
| |||||||
17,221,558 | ||||||||
|
| |||||||
CHILE — 1.7% | ||||||||
AES Gener SA | 141,905 | 40,235 | ||||||
Aguas Andinas SA Class A | 1,236,993 | 805,096 | ||||||
Banco de Chile | 1,621,857 | 272,663 | ||||||
Banco de Chile ADR | 13,880 | 1,396,050 | ||||||
Banco de Credito e Inversiones SA | 3,348 | 248,502 | ||||||
Banco Santander Chile ADR | 2,409 | 80,726 | ||||||
Banco Santander Chile | 90,118 | 7,597 | ||||||
Cencosud SA | 47,390 | 145,099 | ||||||
Cia Cervecerias Unidas SA | 2,796 | 41,160 | ||||||
Cia Cervecerias Unidas SA ADR | 6,326 | 186,048 | ||||||
Colbun SA | 543,203 | 130,238 | ||||||
Embotelladora Andina SA Class B, Preference Shares | 1,220 | 5,990 | ||||||
Empresa Nacional de Telecomunicaciones SA | 1,413 | 16,219 | ||||||
Empresas CMPC SA | 21,618 | 82,355 |
47
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SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Empresas COPEC SA | 16,372 | $ | 257,155 | |||||
Enel Americas SA ADR | 14,881 | 172,917 | ||||||
Enel Americas SA | 137,946 | 32,221 | ||||||
Enel Chile SA ADR | 6,517 | 41,709 | ||||||
Enel Chile SA | 219,678 | 28,473 | ||||||
Enel Generacion Chile SA ADR | 14,876 | 353,900 | ||||||
Enel Generacion Chile SA | 33,558 | 27,380 | ||||||
Itau CorpBanca ADR (b) | 1,852 | 27,132 | ||||||
Latam Airlines Group SA ADR (b) | 5,548 | 85,384 | ||||||
Latam Airlines Group SA | 684 | 10,635 | ||||||
SACI Falabella | 113,220 | 1,092,366 | ||||||
Sociedad Quimica y Minera de Chile SA ADR (b) | 555 | 27,278 | ||||||
|
| |||||||
5,614,528 | ||||||||
|
| |||||||
CHINA — 25.3% | ||||||||
3SBio, Inc. (a) (d) | 76,890 | 173,211 | ||||||
58.com, Inc. ADR (a) | 215 | 17,170 | ||||||
AAC Technologies Holdings, Inc. | 109,500 | 1,975,613 | ||||||
Agile Group Holdings, Ltd. | 28,000 | 57,867 | ||||||
Agricultural Bank of China, Ltd. Class H | 4,040,000 | 2,295,835 | ||||||
Air China, Ltd. Class H | 52,000 | 66,256 | ||||||
Alibaba Group Holding, Ltd. ADR (a) (b) | 12,009 | 2,204,132 | ||||||
Aluminum Corp. of China, Ltd. Class H (a) | 74,000 | 41,015 | ||||||
Anhui Conch Cement Co., Ltd. Class H | 14,000 | 76,259 | ||||||
ANTA Sports Products, Ltd. | 197,000 | 993,999 | ||||||
Autohome, Inc. ADR | 5,808 | 499,140 | ||||||
AviChina Industry & Technology Co., Ltd. Class H | 58,000 | 40,867 | ||||||
Baidu, Inc. ADR (a) | 5,976 | 1,333,783 | ||||||
Bank of China, Ltd. Class H | 6,746,071 | 3,627,336 | ||||||
Bank of Communications Co., Ltd. Class H | 639,000 | 500,726 | ||||||
Beijing Capital International Airport Co., Ltd. Class H | 156,000 | 209,503 | ||||||
Beijing Enterprises Holdings, Ltd. | 12,500 | 65,301 | ||||||
Beijing Enterprises Water Group, Ltd. | 38,000 | 21,207 | ||||||
Brilliance China Automotive Holdings, Ltd. | 266,000 | 555,162 | ||||||
Byd Co., Ltd. Class H (b) | 6,000 | 46,787 | ||||||
BYD Electronic International Co., Ltd. | 11,000 | 20,631 | ||||||
CGN Power Co., Ltd. Class H (d) | 174,100 | 45,032 | ||||||
China Cinda Asset Management Co., Ltd. Class H | 370,548 | 134,559 | ||||||
China CITIC Bank Corp., Ltd. Class H | 996,000 | 680,219 | ||||||
China Communications Construction Co., Ltd. Class H | 226,000 | 232,096 | ||||||
China Communications Services Corp., Ltd. Class H | 96,000 | 57,368 | ||||||
China Conch Venture Holdings, Ltd. | 20,000 | 61,032 |
Security Description | Shares | Value | ||||||
China Construction Bank Corp. Class H | 5,094,394 | $ | 5,231,810 | |||||
China Everbright Bank Co., Ltd. Class H | 691,274 | 332,060 | ||||||
China Everbright International, Ltd. | 19,000 | 26,630 | ||||||
China Everbright, Ltd. | 18,000 | 37,705 | ||||||
China Evergrande Group (a) | 20,625 | 64,911 | ||||||
China Galaxy Securities Co., Ltd. Class H | 79,834 | 53,099 | ||||||
China Huarong Asset Management Co., Ltd. Class H (d) | 562,200 | 236,390 | ||||||
China Huishan Dairy Holdings Co., Ltd. (a) (e) | 1,072,393 | — | ||||||
China Jinmao Holdings Group, Ltd. | 88,000 | 50,120 | ||||||
China Life Insurance Co., Ltd. Class H | 163,000 | 448,607 | ||||||
China Longyuan Power Group Corp., Ltd. Class H | 55,000 | 42,188 | ||||||
China Medical System Holdings, Ltd. | 343,733 | 780,465 | ||||||
China Mengniu Dairy Co., Ltd. | 200,000 | 685,499 | ||||||
China Merchants Bank Co., Ltd. Class H | 101,500 | 415,788 | ||||||
China Merchants Port Holdings Co., Ltd. | 37,812 | 83,349 | ||||||
China Minsheng Banking Corp., Ltd. Class H (b) | 366,800 | 356,598 | ||||||
China Mobile, Ltd. | 740,997 | 6,793,157 | ||||||
China National Building Material Co., Ltd. Class H | 110,000 | 119,414 | ||||||
China Oilfield Services, Ltd. Class H | 28,000 | 28,862 | ||||||
China Overseas Land & Investment, Ltd. | 116,000 | 402,762 | ||||||
China Pacific Insurance Group Co., Ltd. Class H | 41,000 | 183,626 | ||||||
China Petroleum & Chemical Corp. Class H | 2,388,395 | 2,096,765 | ||||||
China Railway Construction Corp., Ltd. Class H | 122,000 | 122,182 | ||||||
China Railway Group, Ltd. Class H | 229,000 | 158,730 | ||||||
China Resources Beer Holdings Co., Ltd. | 186,092 | 806,178 | ||||||
China Resources Gas Group, Ltd. | 124,000 | 430,539 | ||||||
China Resources Land, Ltd. | 70,444 | 256,256 | ||||||
China Resources Pharmaceutical Group, Ltd. (d) | 93,000 | 130,347 | ||||||
China Resources Power Holdings Co., Ltd. | 142,267 | 259,580 | ||||||
China Shenhua Energy Co., Ltd. Class H | 96,500 | 239,765 | ||||||
China Southern Airlines Co., Ltd. Class H | 34,000 | 35,090 | ||||||
China State Construction International Holdings, Ltd. | 254,000 | 310,044 |
48
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
China Taiping Insurance Holdings Co., Ltd. | 34,810 | $ | 115,097 | |||||
China Telecom Corp., Ltd. Class H | 1,460,000 | 643,655 | ||||||
China Unicom Hong Kong, Ltd. (a) | 314,000 | 396,086 | ||||||
China Vanke Co., Ltd. Class H | 113,692 | 518,606 | ||||||
Chongqing Rural Commercial Bank Co., Ltd. Class H | 165,000 | 126,352 | ||||||
CIFI Holdings Group Co., Ltd. | 66,000 | 57,605 | ||||||
CITIC Securities Co., Ltd. Class H | 28,000 | 64,075 | ||||||
CITIC, Ltd. | 232,000 | 324,575 | ||||||
CNOOC, Ltd. | 573,000 | 843,989 | ||||||
COSCO SHIPPING Ports, Ltd. | 353,816 | 297,540 | ||||||
Country Garden Holdings Co., Ltd. | 47,266 | 97,323 | ||||||
CRRC Corp., Ltd. Class H | 143,000 | 121,895 | ||||||
CSPC Pharmaceutical Group, Ltd. | 958,000 | 2,545,048 | ||||||
Ctrip.com International, Ltd. ADR (a) | 1,748 | 81,492 | ||||||
Dongfeng Motor Group Co., Ltd. Class H | 346,000 | 401,623 | ||||||
ENN Energy Holdings, Ltd. | 9,000 | 80,387 | ||||||
Far East Horizon, Ltd. | 51,000 | 53,935 | ||||||
Fosun International, Ltd. | 65,500 | 141,878 | ||||||
Fuyao Glass Industry Group Co., Ltd. Class H (d) | 68,400 | 263,637 | ||||||
Geely Automobile Holdings, Ltd. | 492,000 | 1,416,765 | ||||||
GF Securities Co., Ltd. Class H | 36,200 | 66,512 | ||||||
GOME Retail Holdings, Ltd. (b) | 396,000 | 42,888 | ||||||
Great Wall Motor Co., Ltd. Class H (b) | 374,500 | 375,536 | ||||||
Guangdong Investment, Ltd. | 968,000 | 1,522,001 | ||||||
Guangzhou Automobile Group Co., Ltd. Class H | 22,000 | 40,534 | ||||||
Guangzhou R&F Properties Co., Ltd. Class H | 22,000 | 54,886 | ||||||
Haitian International Holdings, Ltd. | 52,000 | 157,690 | ||||||
Haitong Securities Co., Ltd. Class H | 82,400 | 108,981 | ||||||
Hengan International Group Co., Ltd. | 112,874 | 1,045,569 | ||||||
Huaneng Power International, Inc. Class H | 286,000 | 192,044 | ||||||
Huaneng Renewables Corp., Ltd. Class H | 130,000 | 48,533 | ||||||
Huatai Securities Co., Ltd. Class H (d) | 33,643 | 64,729 | ||||||
Industrial & Commercial Bank of China, Ltd. Class H | 4,257,448 | 3,650,807 | ||||||
JD.com, Inc. ADR (a) (b) | 2,219 | 89,847 | ||||||
Jiangsu Expressway Co., Ltd. Class H | 462,000 | 653,415 | ||||||
Jiangxi Copper Co., Ltd. Class H | 58,000 | 82,770 | ||||||
Kingsoft Corp., Ltd. | 2,000 | 6,345 | ||||||
Kunlun Energy Co., Ltd. | 58,000 | 50,031 | ||||||
Lenovo Group, Ltd. | 756,915 | 386,737 |
Security Description | Shares | Value | ||||||
Longfor Properties Co., Ltd. | 23,500 | $ | 71,863 | |||||
NetEase, Inc. ADR | 11,007 | 3,086,253 | ||||||
New China Life Insurance Co., Ltd. Class H | 17,900 | 83,361 | ||||||
New Oriental Education & Technology Group, Inc. ADR | 15,771 | 1,382,328 | ||||||
Nexteer Automotive Group, Ltd. | 92,000 | 138,557 | ||||||
People’s Insurance Co. Group of China, Ltd. Class H | 344,000 | 160,860 | ||||||
PetroChina Co., Ltd. Class H | 2,240,000 | 1,538,371 | ||||||
PICC Property & Casualty Co., Ltd. Class H | 438,180 | 767,121 | ||||||
Ping An Insurance Group Co. of China, Ltd. Class H | 97,500 | 991,361 | ||||||
Semiconductor Manufacturing International Corp. (a) (b) | 265,200 | 346,693 | ||||||
Shandong Weigao Group Medical Polymer Co., Ltd. Class H | 348,000 | 231,902 | ||||||
Shanghai Electric Group Co., Ltd. Class H (a) (b) | 104,000 | 36,043 | ||||||
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H | 1,500 | 9,212 | ||||||
Shanghai Industrial Holdings, Ltd. | 11,000 | 28,662 | ||||||
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B | 200,627 | 286,094 | ||||||
Shanghai Pharmaceuticals Holding Co., Ltd. Class H | 86,900 | 232,522 | ||||||
Shenzhou International Group Holdings, Ltd. | 146,000 | 1,537,518 | ||||||
Sihuan Pharmaceutical Holdings Group, Ltd. | 1,174,000 | 347,041 | ||||||
SINA Corp. (a) | 811 | 84,563 | ||||||
Sino-Ocean Group Holding, Ltd. | 113,500 | 82,287 | ||||||
Sinopec Shanghai Petrochemical Co., Ltd. Class H | 54,000 | 32,820 | ||||||
Sinopharm Group Co., Ltd. Class H | 66,400 | 332,495 | ||||||
SOHO China, Ltd. | 22,000 | 11,521 | ||||||
Sunac China Holdings, Ltd. | 9,697 | 37,437 | ||||||
Sunny Optical Technology Group Co., Ltd. | 86,693 | 1,600,578 | ||||||
TAL Education Group ADR | 10,285 | 381,471 | ||||||
Tencent Holdings, Ltd. | 136,678 | 7,133,176 | ||||||
Tingyi Cayman Islands Holding Corp. | 18,000 | 37,338 | ||||||
TravelSky Technology, Ltd. Class H | 230,000 | 666,705 | ||||||
Tsingtao Brewery Co., Ltd. Class H | 50,000 | 261,203 | ||||||
Vipshop Holdings, Ltd. ADR (a) | 7,811 | 129,819 | ||||||
Want Want China Holdings, Ltd. | 606,000 | 485,677 | ||||||
Weibo Corp. ADR | 3,986 | 476,486 | ||||||
Weichai Power Co., Ltd. Class H | 40,000 | 44,851 | ||||||
Yanzhou Coal Mining Co., Ltd.Class H | 46,000 | 58,611 | ||||||
Yum China Holdings, Inc. | 64,362 | 2,671,023 | ||||||
YY, Inc. ADR (a) | 3,759 | 395,447 |
49
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Zhejiang Expressway Co., Ltd. Class H | 20,000 | $ | 20,412 | |||||
Zhuzhou CRRC Times Electric Co., Ltd. Class H | 53,400 | 258,553 | ||||||
Zijin Mining Group Co., Ltd. Class H | 320,000 | 143,114 | ||||||
ZTE Corp. Class H (a) | 44,480 | 144,804 | ||||||
|
| |||||||
81,248,193 | ||||||||
|
| |||||||
COLOMBIA — 0.4% | ||||||||
Bancolombia SA ADR | 1,805 | 75,846 | ||||||
Bancolombia SA | 4,908 | 53,102 | ||||||
Bancolombia SA Preference Shares | 3,614 | 37,885 | ||||||
Cementos Argos SA | 1,555 | 5,395 | ||||||
Ecopetrol SA ADR (b) | 5,475 | 105,832 | ||||||
Ecopetrol SA | 9,534 | 8,926 | ||||||
Grupo Argos SA | 14,939 | 100,660 | ||||||
Grupo Aval Acciones y Valores SA Preference Shares | 38,422 | 16,026 | ||||||
Grupo de Inversiones Suramericana SA Preference Shares | 10,551 | 134,480 | ||||||
Grupo de Inversiones Suramericana SA | 5,618 | 74,984 | ||||||
Interconexion Electrica SA ESP | 113,507 | 541,303 | ||||||
|
| |||||||
1,154,439 | ||||||||
|
| |||||||
CZECH REPUBLIC — 0.3% | ||||||||
CEZ A/S | 6,946 | 172,971 | ||||||
Komercni banka A/S | 7,769 | 354,185 | ||||||
Moneta Money Bank A/S (d) | 75,738 | 313,730 | ||||||
O2 Czech Republic A/S | 19,091 | 263,602 | ||||||
|
| |||||||
1,104,488 | ||||||||
|
| |||||||
EGYPT — 0.3% | ||||||||
Commercial International Bank Egypt SAE | 193,077 | 980,831 | ||||||
|
| |||||||
GREECE — 0.6% | ||||||||
Alpha Bank AE (a) | 104,883 | 223,153 | ||||||
Eurobank Ergasias SA (a) | 161,302 | 152,255 | ||||||
FF Group (a) | 491 | 9,565 | ||||||
Hellenic Telecommunications Organization SA | 20,285 | 273,924 | ||||||
JUMBO SA | 15,563 | 277,532 | ||||||
National Bank of Greece SA (a) | 353,613 | 113,594 | ||||||
OPAP SA | 29,693 | 339,252 | ||||||
Piraeus Bank SA (a) | 41,082 | 129,848 | ||||||
Titan Cement Co. SA | 11,505 | 285,111 | ||||||
|
| |||||||
1,804,234 | ||||||||
|
| |||||||
HONG KONG — 0.9% | ||||||||
Alibaba Pictures Group, Ltd. (a) | 10,000 | 1,300 | ||||||
China Gas Holdings, Ltd. | 63,200 | 229,905 | ||||||
Fullshare Holdings, Ltd. (a) (b) | 505,893 | 280,396 | ||||||
GCL-Poly Energy Holdings, Ltd. (a) | 417,000 | 51,538 | ||||||
Haier Electronics Group Co., Ltd. | 142,000 | 505,702 | ||||||
Hanergy Thin Film Power Group, Ltd. (a) (e) | 598,000 | — |
Security Description | Shares | Value | ||||||
Kingboard Chemical Holdings, Ltd. | 21,500 | $ | 98,209 | |||||
Lee & Man Paper Manufacturing, Ltd. | 29,000 | 30,632 | ||||||
Nine Dragons Paper Holdings, Ltd. | 21,000 | 31,413 | ||||||
Shimao Property Holdings, Ltd. | 34,000 | 96,174 | ||||||
Sino Biopharmaceutical, Ltd. | 685,000 | 1,344,113 | ||||||
Sun Art Retail Group, Ltd. | 321,332 | 373,808 | ||||||
|
| |||||||
3,043,190 | ||||||||
|
| |||||||
HUNGARY — 0.4% | ||||||||
MOL Hungarian Oil & Gas PLC | 41,383 | 451,921 | ||||||
OTP Bank PLC | 4,729 | 212,756 | ||||||
Richter Gedeon Nyrt | 25,541 | 533,790 | ||||||
|
| |||||||
1,198,467 | ||||||||
|
| |||||||
INDIA — 9.8% | ||||||||
ACC, Ltd. | 193 | 4,461 | ||||||
Adani Ports & Special Economic Zone, Ltd. | 55,327 | 300,380 | ||||||
Ambuja Cements, Ltd. | 2,887 | 10,311 | ||||||
Ashok Leyland, Ltd. | 1,669 | 3,722 | ||||||
Asian Paints, Ltd. | 62,017 | 1,065,349 | ||||||
Aurobindo Pharma, Ltd. | 21,701 | 185,612 | ||||||
Axis Bank, Ltd. | 28,634 | 224,123 | ||||||
Bajaj Auto, Ltd. | 8,224 | 346,087 | ||||||
Bajaj Finance, Ltd. | 200 | 5,420 | ||||||
Bajaj Finserv, Ltd. | 187 | 14,828 | ||||||
Bharat Forge, Ltd. | 678 | 7,273 | ||||||
Bharat Heavy Electricals, Ltd. | 12,896 | 16,085 | ||||||
Bharat Petroleum Corp., Ltd. | 74,651 | 489,248 | ||||||
Bharti Airtel, Ltd. | 15,349 | 93,828 | ||||||
Bharti Infratel, Ltd. | 56,349 | 290,420 | ||||||
Bosch, Ltd. | 601 | 166,027 | ||||||
Britannia Industries, Ltd. | 3,249 | 247,609 | ||||||
Cadila Healthcare, Ltd. | 25,741 | 149,126 | ||||||
Cipla, Ltd. | 8,024 | 67,105 | ||||||
Coal India, Ltd. | 100,400 | 436,102 | ||||||
Container Corp. Of India, Ltd. | 170 | 3,245 | ||||||
Dabur India, Ltd. | 200,009 | 1,007,072 | ||||||
Dr Reddy’s Laboratories, Ltd. ADR (b) | 743 | 24,289 | ||||||
Dr Reddy’s Laboratories, Ltd. | 579 | 18,470 | ||||||
Eicher Motors, Ltd. | 1,532 | 666,448 | ||||||
GAIL India, Ltd. GDR | 1,790 | 72,674 | ||||||
Glenmark Pharmaceuticals, Ltd. | 11,546 | 93,169 | ||||||
Godrej Consumer Products, Ltd. | 20,139 | 337,695 | ||||||
Grasim Industries, Ltd. | 4,578 | 73,764 | ||||||
Havells India, Ltd. | 19,418 | 145,244 | ||||||
HCL Technologies, Ltd. | 117,425 | 1,743,865 | ||||||
Hero MotoCorp, Ltd. | 6,364 | 345,688 | ||||||
Hindalco Industries, Ltd. | 25,364 | 83,436 | ||||||
Hindustan Petroleum Corp., Ltd. | 72,350 | 382,540 | ||||||
Hindustan Unilever, Ltd. | 101,904 | 2,083,259 | ||||||
Housing Development Finance Corp., Ltd. | 22,791 | 637,936 | ||||||
ICICI Bank, Ltd. ADR | 19,934 | 176,416 | ||||||
ICICI Bank, Ltd. | 2,115 | 9,026 |
50
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Idea Cellular, Ltd. (a) | 28,189 | $ | 32,804 | |||||
IDFC Bank, Ltd. | 43,557 | 31,622 | ||||||
Indiabulls Housing Finance, Ltd. | 4,407 | 83,600 | ||||||
Indian Oil Corp., Ltd. | 28,654 | 77,586 | ||||||
Infosys, Ltd. ADR (b) | 165,681 | 2,957,406 | ||||||
Infosys, Ltd. | 100,407 | 1,742,375 | ||||||
ITC, Ltd. | 351,554 | 1,377,180 | ||||||
JSW Steel, Ltd. | 10,407 | 45,978 | ||||||
Larsen & Toubro, Ltd. GDR | 3,914 | 78,671 | ||||||
Larsen & Toubro, Ltd. | 429 | 8,623 | ||||||
LIC Housing Finance, Ltd. | 6,277 | 51,431 | ||||||
Lupin, Ltd. | 7,102 | 80,127 | ||||||
Mahindra & Mahindra Financial Services, Ltd. | 1,058 | 7,515 | ||||||
Mahindra & Mahindra, Ltd. GDR | 8,376 | 96,324 | ||||||
Mahindra & Mahindra, Ltd. | 672 | 7,613 | ||||||
Marico, Ltd. | 128,008 | 639,925 | ||||||
Maruti Suzuki India, Ltd. | 10,169 | 1,381,573 | ||||||
Motherson Sumi Systems, Ltd. | 3,802 | 18,126 | ||||||
Nestle India, Ltd. | 3,558 | 447,523 | ||||||
NTPC, Ltd. | 32,972 | 85,790 | ||||||
Oil & Natural Gas Corp., Ltd. | 29,833 | 81,327 | ||||||
Petronet LNG, Ltd. | 41,009 | 145,213 | ||||||
Piramal Enterprises, Ltd. | 155 | 5,782 | ||||||
Power Finance Corp., Ltd. | 12,757 | 16,753 | ||||||
Reliance Industries, Ltd. GDR (d) | 19,974 | 541,295 | ||||||
Reliance Industries, Ltd. | 12,968 | 175,507 | ||||||
Rural Electrification Corp., Ltd. | 25,488 | 48,732 | ||||||
Shree Cement, Ltd. | 612 | 151,977 | ||||||
Shriram Transport Finance Co., Ltd. | 1,243 | 27,436 | ||||||
Siemens, Ltd. | 93 | 1,530 | ||||||
State Bank of India GDR | 3,605 | 139,153 | ||||||
Sun Pharmaceutical Industries, Ltd. | 91,942 | 697,935 | ||||||
Tata Consultancy Services, Ltd. | 79,950 | 3,492,542 | ||||||
Tata Motors, Ltd. ADR (a) | 8,693 | 223,410 | ||||||
Tata Motors, Ltd. (a) | 16,600 | 46,653 | ||||||
Tata Motors, Ltd. (a) | 4,696 | 23,533 | ||||||
Tata Power Co., Ltd. | 21,349 | 25,859 | ||||||
Tata Steel, Ltd. | 742 | 6,497 | ||||||
Tata Steel, Ltd. GDR | 4,572 | 39,685 | ||||||
Tech Mahindra, Ltd. | 94,910 | 929,430 | ||||||
Titan Co., Ltd. | 41,506 | 599,664 | ||||||
UltraTech Cement, Ltd. | 325 | 19,683 | ||||||
United Spirits, Ltd. (a) | 35 | 1,680 | ||||||
UPL, Ltd. | 32,617 | 365,194 | ||||||
Vakrangee, Ltd. | 80,596 | 273,527 | ||||||
Vedanta, Ltd. | 16,384 | 69,797 | ||||||
Wipro, Ltd. ADR (b) | 164,490 | 848,768 | ||||||
Wipro, Ltd. | 129,924 | 560,061 | ||||||
Yes Bank, Ltd. | 18,612 | 86,994 | ||||||
Zee Entertainment Enterprises, Ltd. | 47,014 | 414,840 | ||||||
|
| |||||||
31,339,601 | ||||||||
|
| |||||||
INDONESIA — 4.1% | ||||||||
Adaro Energy Tbk PT | 279,600 | 43,258 | ||||||
AKR Corporindo Tbk PT | 19,500 | 8,038 |
Security Description | Shares | Value | ||||||
Astra International Tbk PT | 259,900 | $ | 137,808 | |||||
Bank Central Asia Tbk PT | 1,946,925 | 3,294,959 | ||||||
Bank Danamon Indonesia Tbk PT | 135,500 | 67,664 | ||||||
Bank Mandiri Persero Tbk PT | 614,900 | 342,790 | ||||||
Bank Negara Indonesia Persero Tbk PT | 175,300 | 110,458 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 6,661,500 | 1,741,885 | ||||||
Bank Tabungan Negara Persero Tbk PT | 160,800 | 44,383 | ||||||
Bumi Serpong Damai Tbk PT | 118,000 | 15,256 | ||||||
Charoen Pokphand Indonesia Tbk PT | 86,500 | 21,676 | ||||||
Gudang Garam Tbk PT | 85,900 | 452,196 | ||||||
Hanjaya Mandala Sampoerna Tbk PT | 3,404,800 | 984,282 | ||||||
Indocement Tunggal Prakarsa Tbk PT | 23,000 | 26,730 | ||||||
Indofood CBP Sukses Makmur Tbk PT | 477,900 | 287,243 | ||||||
Indofood Sukses Makmur Tbk PT | 480,200 | 251,131 | ||||||
Jasa Marga Persero Tbk PT | 140,600 | 46,773 | ||||||
Kalbe Farma Tbk PT | 5,549,100 | 604,587 | ||||||
Matahari Department Store Tbk PT | 331,400 | 263,579 | ||||||
Pakuwon Jati Tbk PT | 1,776,778 | 81,305 | ||||||
Perusahaan Gas Negara Persero Tbk | 299,200 | 49,984 | ||||||
Semen Indonesia Persero Tbk PT | 257,500 | 193,581 | ||||||
Surya Citra Media Tbk PT | 816,900 | 160,799 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 8,018,275 | 2,096,662 | ||||||
Tower Bersama Infrastructure Tbk PT | 17,391 | 7,042 | ||||||
Unilever Indonesia Tbk PT | 419,400 | 1,508,682 | ||||||
United Tractors Tbk PT | 152,000 | 353,296 | ||||||
Waskita Karya Persero Tbk PT | 23,000 | 4,126 | ||||||
XL Axiata Tbk PT (a) | 56,200 | 10,287 | ||||||
|
| |||||||
13,210,460 | ||||||||
|
| |||||||
MALAYSIA — 3.7% | ||||||||
AirAsia Bhd | 13,200 | 13,514 | ||||||
Alliance Bank Malaysia Bhd | 43,700 | 48,242 | ||||||
AMMB Holdings Bhd | 55,000 | 55,171 | ||||||
Astro Malaysia Holdings Bhd | 6,700 | 3,534 | ||||||
Axiata Group Bhd | 33,366 | 47,099 | ||||||
British American Tobacco Malaysia Bhd | 19,200 | 130,548 | ||||||
CIMB Group Holdings Bhd | 113,339 | 209,800 | ||||||
Dialog Group Bhd | 9,700 | 7,423 | ||||||
DiGi.Com Bhd | 97,200 | 116,348 | ||||||
Felda Global Ventures Holdings Bhd | 17,200 | 7,382 | ||||||
Gamuda Bhd | 11,400 | 15,178 | ||||||
Genting Bhd | 44,600 | 100,315 | ||||||
Genting Malaysia Bhd | 37,800 | 47,397 | ||||||
Genting Plantations Bhd | 800 | 2,110 | ||||||
HAP Seng Consolidated Bhd | 63,800 | 160,325 | ||||||
Hartalega Holdings Bhd | 112,600 | 170,880 |
51
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SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Hong Leong Bank Bhd | 269,120 | $ | 1,301,071 | |||||
Hong Leong Financial Group Bhd | 2,900 | 14,380 | ||||||
IHH Healthcare Bhd | 791,300 | 1,227,456 | ||||||
IJM Corp. Bhd | 38,400 | 26,705 | ||||||
IOI Corp. Bhd | 17,700 | 21,873 | ||||||
IOI Properties Group Bhd | 18,308 | 7,620 | ||||||
Kuala Lumpur Kepong Bhd | 2,600 | 17,194 | ||||||
Malayan Banking Bhd | 614,399 | 1,671,013 | ||||||
Malaysia Airports Holdings Bhd | 3,100 | 7,093 | ||||||
Maxis Bhd | 391,200 | 574,461 | ||||||
MISC Bhd | 24,400 | 44,473 | ||||||
Nestle Malaysia Bhd | 6,400 | 249,845 | ||||||
Petronas Chemicals Group Bhd | 359,700 | 757,899 | ||||||
Petronas Dagangan Bhd | 51,100 | 326,311 | ||||||
Petronas Gas Bhd | 178,000 | 820,052 | ||||||
PPB Group Bhd | 3,300 | 16,329 | ||||||
Public Bank Bhd | 370,511 | 2,298,931 | ||||||
RHB Capital Bhd | 16,738 | 22,372 | ||||||
Sapura Energy Bhd | 186,900 | 24,401 | ||||||
Sime Darby Bhd | 20,727 | 14,039 | ||||||
Sime Darby Plantation Bhd (a) | 20,727 | 29,472 | ||||||
Sime Darby Property Bhd (a) | 20,727 | 7,609 | ||||||
SP Setia Bhd Group | 39,400 | 30,457 | ||||||
Telekom Malaysia Bhd | 178,985 | 241,084 | ||||||
Tenaga Nasional Bhd | 174,600 | 729,456 | ||||||
UMW Holdings Bhd (a) | 11,000 | 17,120 | ||||||
Westports Holdings Bhd | 169,438 | 154,632 | ||||||
YTL Corp. Bhd | 77,538 | 26,862 | ||||||
YTL Power International Bhd | 18,156 | 4,741 | ||||||
|
| |||||||
11,820,217 | ||||||||
|
| |||||||
MEXICO — 2.0% | ||||||||
Alfa SAB de CV Class A | 103,841 | 132,493 | ||||||
America Movil SAB de CV Series L | 501,709 | 474,127 | ||||||
Arca Continental SAB de CV | 61,012 | 420,183 | ||||||
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand Class B (b) | 38,448 | 55,081 | ||||||
Cemex SAB de CV Series CPO (a) | 290,945 | 191,748 | ||||||
Coca-Cola Femsa SAB de CV Series L | 19,310 | 127,189 | ||||||
El Puerto de Liverpool SAB de CV Series C1 (b) | 2,386 | 17,712 | ||||||
Fibra Uno Administracion SA de CV REIT | 77,209 | 115,728 | ||||||
Fomento Economico Mexicano SAB de CV | 23,902 | 217,133 | ||||||
Gentera SAB de CV (b) | 120,196 | 87,315 | ||||||
Gruma SAB de CV Class B | 35,031 | 400,275 | ||||||
Grupo Aeroportuario del Pacifico SAB de CV Class B | 55,830 | 549,415 | ||||||
Grupo Aeroportuario del Sureste SAB de CV Class B | 18,579 | 311,884 | ||||||
Grupo Bimbo SAB de CV Series A | 36,852 | 80,312 |
Security Description | Shares | Value | ||||||
Grupo Carso SAB de CV Series A1 | 9,053 | $ | 31,756 | |||||
Grupo Financiero Banorte SAB de CV Series O | 41,778 | 254,351 | ||||||
Grupo Financiero Inbursa SAB de CV Series O (b) | 45,185 | 74,485 | ||||||
Grupo Lala SAB de CV (b) | 49,877 | 67,574 | ||||||
Grupo Mexico SAB de CV Series B | 58,055 | 192,578 | ||||||
Grupo Televisa SAB Series CPO (b) | 40,939 | 129,701 | ||||||
Industrias Penoles SAB de CV | 1,018 | 20,482 | ||||||
Infraestructura Energetica Nova SAB de CV | 47,313 | 230,480 | ||||||
Kimberly-Clark de Mexico SAB de CV Class A | 10,285 | 19,180 | ||||||
Mexichem SAB de CV | 19,406 | 59,153 | ||||||
Promotora y Operadora de Infraestructura SAB de CV | 2,519 | 24,942 | ||||||
Wal-Mart de Mexico SAB de CV | 801,824 | 2,032,069 | ||||||
|
| |||||||
6,317,346 | ||||||||
|
| |||||||
PAKISTAN — 0.1% | ||||||||
Habib Bank, Ltd. | 52,534 | 94,743 | ||||||
Lucky Cement, Ltd. | 26,106 | 155,731 | ||||||
MCB Bank, Ltd. | 72,397 | 139,336 | ||||||
Oil & Gas Development Co., Ltd. | 5,662 | 8,550 | ||||||
United Bank, Ltd. | 6,406 | 11,425 | ||||||
|
| |||||||
409,785 | ||||||||
|
| |||||||
PERU — 0.5% | ||||||||
Cia de Minas Buenaventura SAA ADR | 1,747 | 26,607 | ||||||
Credicorp, Ltd. | 6,810 | 1,546,143 | ||||||
Southern Copper Corp. (b) | 824 | 44,644 | ||||||
|
| |||||||
1,617,394 | ||||||||
|
| |||||||
PHILIPPINES — 1.5% | ||||||||
Aboitiz Equity Ventures, Inc. | 425,100 | 549,935 | ||||||
Aboitiz Power Corp. | 583,200 | 432,559 | ||||||
Alliance Global Group, Inc. (a) | 104,400 | 26,411 | ||||||
Ayala Corp. | 2,020 | 36,701 | ||||||
Ayala Land, Inc. | 39,700 | 31,272 | ||||||
Bank of the Philippine Islands | 314,140 | 704,411 | ||||||
BDO Unibank, Inc. | 298,732 | 795,817 | ||||||
DMCI Holdings, Inc. | 334,430 | 77,939 | ||||||
Globe Telecom, Inc. | 130 | 4,041 | ||||||
GT Capital Holdings, Inc. | 1,125 | 25,205 | ||||||
International Container Terminal Services, Inc. | 6,090 | 11,672 | ||||||
JG Summit Holdings, Inc. | 23,930 | 28,756 | ||||||
Jollibee Foods Corp. | 137,780 | 789,540 | ||||||
Manila Electric Co. | 23,830 | 145,234 | ||||||
Megaworld Corp. | 200,000 | 17,977 | ||||||
Metro Pacific Investments Corp. | 160,600 | 16,128 | ||||||
Metropolitan Bank & Trust Co. | 140,408 | 230,885 | ||||||
PLDT, Inc. | 2,051 | 57,783 | ||||||
Robinsons Land Corp. | 95,663 | 36,558 | ||||||
Security Bank Corp. | 36,050 | 165,819 | ||||||
SM Investments Corp. | 2,255 | 39,631 |
52
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SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SM Prime Holdings, Inc. | 75,000 | $ | 48,440 | |||||
Universal Robina Corp. | 143,470 | 417,947 | ||||||
|
| |||||||
4,690,661 | ||||||||
|
| |||||||
POLAND — 1.0% | ||||||||
Alior Bank SA (a) | 2,047 | 43,954 | ||||||
Bank Handlowy w Warszawie SA | 779 | 17,193 | ||||||
Bank Millennium SA (a) | 21,021 | 50,385 | ||||||
Bank Pekao SA | 13,689 | 492,761 | ||||||
Bank Zachodni WBK SA | 1,836 | 194,143 | ||||||
CCC SA | 206 | 14,025 | ||||||
CD Projekt SA | 1,835 | 58,608 | ||||||
Cyfrowy Polsat SA | 20,249 | 147,435 | ||||||
Dino Polska SA (a) (d) | 4,054 | 102,791 | ||||||
Grupa Azoty SA | 970 | 15,859 | ||||||
Grupa Lotos SA | 5,532 | 85,274 | ||||||
KGHM Polska Miedz SA | 2,205 | 55,889 | ||||||
LPP SA | 11 | 27,939 | ||||||
mBank SA (a) | 411 | 50,252 | ||||||
Orange Polska SA (a) | 22,924 | 38,817 | ||||||
PGE Polska Grupa Energetyczna SA (a) | 94,277 | 272,760 | ||||||
PLAY Communications SA (a) | 13,384 | 129,413 | ||||||
Polski Koncern Naftowy ORLEN SA | 18,058 | 443,476 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo SA | 39,661 | 65,421 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA (a) | 20,345 | 240,199 | ||||||
Powszechny Zaklad Ubezpieczen SA | 59,308 | 722,888 | ||||||
Tauron Polska Energia SA (a) | 110,907 | 78,680 | ||||||
|
| |||||||
3,348,162 | ||||||||
|
| |||||||
QATAR — 0.8% | ||||||||
Barwa Real Estate Co. | 2,062 | 18,967 | ||||||
Commercial Bank PQSC | 27,091 | 223,155 | ||||||
Doha Bank QPSC | 23,776 | 176,264 | ||||||
Ezdan Holding Group QSC | 27,624 | 79,641 | ||||||
Industries Qatar QSC | 2,021 | 58,322 | ||||||
Masraf Al Rayan QSC | 15,208 | 147,570 | ||||||
Ooredoo QSC | 3,471 | 78,645 | ||||||
Qatar Electricity & Water Co. QSC | 12,765 | 658,929 | ||||||
Qatar Gas Transport Co., Ltd. | 10,407 | 43,662 | ||||||
Qatar Insurance Co. SAQ | 3,482 | 35,853 | ||||||
Qatar Islamic Bank SAQ | 17,069 | 456,954 | ||||||
Qatar National Bank QPSC | 18,021 | 643,254 | ||||||
|
| |||||||
2,621,216 | ||||||||
|
| |||||||
ROMANIA — 0.1% | ||||||||
NEPI Rockcastle PLC | 24,874 | 241,419 | ||||||
|
| |||||||
RUSSIA — 3.7% | ||||||||
Alrosa PJSC | 241,348 | 381,456 | ||||||
Gazprom PJSC ADR | 457,553 | 2,226,453 | ||||||
Inter RAO UES PJSC | 1,676,638 | 111,562 | ||||||
LUKOIL PJSC ADR | 21,698 | 1,494,992 | ||||||
Magnit PJSC GDR | 35,662 | 657,429 |
Security Description | Shares | Value | ||||||
Magnitogorsk Iron & Steel Works PJSC | 50,355 | $ | 38,708 | |||||
MMC Norilsk Nickel PJSC ADR | 10,214 | 189,316 | ||||||
Mobile TeleSystems PJSC ADR | 50,599 | 576,323 | ||||||
Moscow Exchange MICEX-RTS PJSC | 18,240 | 37,153 | ||||||
Novatek PJSC GDR | 8,373 | 1,147,101 | ||||||
Novolipetsk Steel PJSC | 27,637 | 69,679 | ||||||
PhosAgro PJSC GDR | 772 | 11,225 | ||||||
Polyus PJSC | 357 | 27,796 | ||||||
Rosneft Oil Co. PJSC | 20,476 | 112,867 | ||||||
Rosneft Oil Co. PJSC GDR | 58,839 | 322,555 | ||||||
RusHydro PJSC ADR | 44,660 | 56,182 | ||||||
Sberbank of Russia PJSC ADR | 87,280 | 1,626,026 | ||||||
Sberbank of Russia PJSC ADR (b) | 6,842 | 127,603 | ||||||
Severstal PJSC GDR | 4,031 | 60,828 | ||||||
Surgutneftegas OJSC ADR (c) | 62,636 | 314,433 | ||||||
Surgutneftegas OJSC ADR (c) | 63,843 | 312,192 | ||||||
Tatneft PJSC ADR | 24,499 | 1,546,377 | ||||||
Tatneft PJSC ADR (b) | 1,551 | 99,621 | ||||||
Transneft PJSC Preference Shares | 36 | 110,442 | ||||||
VTB Bank PJSC GDR | 81,263 | 159,113 | ||||||
VTB Bank PJSC | 62,258,692 | 55,472 | ||||||
|
| |||||||
11,872,904 | ||||||||
|
| |||||||
SOUTH AFRICA — 5.0% | ||||||||
Anglo American Platinum, Ltd. | 429 | 11,731 | ||||||
AngloGold Ashanti, Ltd. | 13,983 | 132,788 | ||||||
Aspen Pharmacare Holdings, Ltd. | 3,399 | 74,430 | ||||||
Barclays Africa Group, Ltd. | 25,549 | 409,043 | ||||||
Bid Corp., Ltd. | 30,520 | 663,912 | ||||||
Bidvest Group, Ltd. | 14,481 | 273,885 | ||||||
Brait SE (a) | 60,753 | 185,098 | ||||||
Capitec Bank Holdings, Ltd. | 4,152 | 304,947 | ||||||
Coronation Fund Managers, Ltd. | 23,951 | 163,207 | ||||||
Discovery, Ltd. | 4,556 | 65,559 | ||||||
Exxaro Resources, Ltd. | 5,372 | 49,414 | ||||||
FirstRand, Ltd. (b) | 363,615 | 2,053,030 | ||||||
Fortress REIT, Ltd. Class A, | 193,322 | 260,890 | ||||||
Fortress REIT, Ltd. Class B, (b) | 4,842 | 4,863 | ||||||
Foschini Group, Ltd. | 19,100 | 360,682 | ||||||
Gold Fields, Ltd. | 34,173 | 138,379 | ||||||
Growthpoint Properties, Ltd. REIT (b) | 38,299 | 91,830 | ||||||
Hyprop Investments, Ltd. | 3,356 | 30,652 | ||||||
Imperial Holdings, Ltd. | 6,112 | 120,319 | ||||||
Investec, Ltd. | 9,387 | 73,108 | ||||||
Kumba Iron Ore, Ltd. (b) | 7,562 | 180,646 | ||||||
Liberty Holdings, Ltd. (b) | 3,966 | 42,024 | ||||||
Life Healthcare Group Holdings, Ltd. | 14,551 | 33,907 | ||||||
MMI Holdings, Ltd. | 27,627 | 51,249 | ||||||
Mondi, Ltd. | 11,241 | 305,702 | ||||||
Mr. Price Group, Ltd. | 29,251 | 703,579 | ||||||
MTN Group, Ltd. | 33,543 | 336,937 | ||||||
Naspers, Ltd. Class N | 1,217 | 297,025 | ||||||
Nedbank Group, Ltd. (b) | 6,737 | 162,353 | ||||||
Netcare, Ltd. | 132,368 | 312,801 | ||||||
Pick n Pay Stores, Ltd. | 42,856 | 247,904 |
53
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Pioneer Foods Group, Ltd. (b) | 1,775 | $ | 18,606 | |||||
PSG Group, Ltd. | 789 | 14,987 | ||||||
Rand Merchant Investment Holdings, Ltd. | 54,687 | 184,617 | ||||||
Redefine Properties, Ltd. REIT | 103,060 | 100,809 | ||||||
Remgro, Ltd. | 10,609 | 198,772 | ||||||
Resilient REIT, Ltd. | 5,137 | 21,677 | ||||||
RMB Holdings, Ltd. | 80,858 | 526,485 | ||||||
Sanlam, Ltd. (b) | 143,619 | 1,033,923 | ||||||
Sappi, Ltd. | 20,475 | 131,676 | ||||||
Sasol, Ltd. | 14,161 | 481,919 | ||||||
Shoprite Holdings, Ltd. | 45,811 | 976,554 | ||||||
Sibanye Gold, Ltd. | 17,645 | 17,528 | ||||||
SPAR Group, Ltd. | 27,261 | 466,040 | ||||||
Standard Bank Group, Ltd. (b) | 32,711 | 603,713 | ||||||
Steinhoff International Holdings NV | 74,041 | 20,621 | ||||||
Telkom SA SOC, Ltd. | 6,631 | 29,627 | ||||||
Tiger Brands, Ltd. | 18,770 | 589,298 | ||||||
Truworths International, Ltd. | 56,049 | 508,657 | ||||||
Vodacom Group, Ltd. | 119,159 | 1,539,375 | ||||||
Woolworths Holdings, Ltd. | 100,277 | 507,785 | ||||||
|
| |||||||
16,114,563 | ||||||||
|
| |||||||
SOUTH KOREA — 11.7% | ||||||||
Amorepacific Corp. | 2,404 | 692,399 | ||||||
Amorepacific Corp. Preference Shares | 724 | 108,678 | ||||||
AMOREPACIFIC Group | 370 | 47,556 | ||||||
BGF retail Co., Ltd. | 489 | 69,962 | ||||||
BNK Financial Group, Inc. | 19,510 | 194,935 | ||||||
Celltrion, Inc. (a) | 774 | 230,189 | ||||||
Cheil Worldwide, Inc. | 5,284 | 90,223 | ||||||
CJ CheilJedang Corp. | 510 | 153,110 | ||||||
CJ Corp. | 729 | 107,719 | ||||||
CJ E&M Corp. | 95 | 8,226 | ||||||
CJ Logistics Corp. (a) | 1,368 | 176,471 | ||||||
Coway Co., Ltd. | 7,205 | 593,488 | ||||||
Daelim Industrial Co., Ltd. | 768 | 53,030 | ||||||
Daewoo Engineering & Construction Co., Ltd. (a) | 1,280 | 6,256 | ||||||
DB Insurance Co., Ltd. | 14,730 | 912,074 | ||||||
DGB Financial Group, Inc. | 11,281 | 123,298 | ||||||
Dongsuh Cos., Inc. | 104 | 2,542 | ||||||
Doosan Bobcat, Inc. | 668 | 19,772 | ||||||
Doosan Heavy Industries & Construction Co., Ltd. (a) | 3,825 | 57,057 | ||||||
E-MART, Inc. | 1,230 | 312,145 | ||||||
GS Engineering & Construction Corp. | 3,026 | 84,600 | ||||||
GS Holdings Corp. | 1,957 | 113,098 | ||||||
GS Retail Co., Ltd. | 2,257 | 65,006 | ||||||
Hana Financial Group, Inc. | 12,465 | 533,262 | ||||||
Hankook Tire Co., Ltd. | 2,277 | 112,365 | ||||||
Hanmi Pharm Co., Ltd. | 7 | 3,395 | ||||||
Hanmi Science Co., Ltd. | 10 | 886 | ||||||
Hanon Systems | 15,638 | 169,452 | ||||||
Hanssem Co., Ltd. | 1,754 | 246,834 | ||||||
Hanwha Chemical Corp. | 3,007 | 83,363 |
Security Description | Shares | Value | ||||||
Hanwha Corp. | 4,815 | $ | 177,756 | |||||
Hanwha Life Insurance Co., Ltd. | 25,070 | 147,706 | ||||||
Hanwha Techwin Co., Ltd. (a) | 1,388 | 37,633 | ||||||
Hotel Shilla Co., Ltd. | 70 | 6,042 | ||||||
Hyosung Corp. | 830 | 93,053 | ||||||
Hyundai Department Store Co., Ltd. | 734 | 62,320 | ||||||
Hyundai Development Co-Engineering & Construction | 1,682 | 59,807 | ||||||
Hyundai Engineering & Construction Co., Ltd. | 4,302 | 171,935 | ||||||
Hyundai Glovis Co., Ltd. | 533 | 91,009 | ||||||
Hyundai Heavy Industries Co., Ltd. (a) | 1,574 | 203,044 | ||||||
Hyundai Marine & Fire Insurance Co., Ltd. | 9,105 | 335,277 | ||||||
Hyundai Mobis Co., Ltd. | 2,533 | 603,604 | ||||||
Hyundai Motor Co. | 7,592 | 1,022,096 | ||||||
Hyundai Motor Co. Preference Shares | 2,860 | 250,072 | ||||||
Hyundai Motor Co. Preference Shares | 1,419 | 114,889 | ||||||
Hyundai Motor Co. GDR | 1,246 | 49,965 | ||||||
Hyundai Robotics Co., Ltd. (a) | 194 | 77,534 | ||||||
Hyundai Steel Co. | 4,602 | 222,782 | ||||||
Hyundai Wia Corp. | 1,357 | 70,021 | ||||||
Industrial Bank of Korea | 12,906 | 188,886 | ||||||
ING Life Insurance Korea, Ltd. | 993 | 41,596 | ||||||
Kakao Corp. | 1,703 | 206,904 | ||||||
Kangwon Land, Inc. | 29,306 | 749,215 | ||||||
KB Financial Group, Inc. | 3,107 | 179,558 | ||||||
KB Financial Group, Inc. ADR (a) | 11,956 | 692,731 | ||||||
KCC Corp. | 208 | 64,689 | ||||||
KEPCO Plant Service & Engineering Co., Ltd. | 1,080 | 46,001 | ||||||
Kia Motors Corp. | 23,845 | 712,509 | ||||||
Korea Aerospace Industries, Ltd. (a) | 730 | 34,209 | ||||||
Korea Electric Power Corp. ADR (a) (b) | 41,586 | 640,009 | ||||||
Korea Electric Power Corp. | 6,980 | 215,444 | ||||||
Korea Gas Corp. (a) | 2,763 | 125,850 | ||||||
Korea Investment Holdings Co., Ltd. | 912 | 70,674 | ||||||
Korea Zinc Co., Ltd. | 139 | 62,856 | ||||||
Korean Air Lines Co., Ltd. | 2,175 | 66,725 | ||||||
KT Corp. ADR (a) | 17,817 | 244,093 | ||||||
KT Corp. | 123 | 3,156 | ||||||
KT&G Corp. | 20,621 | 1,934,609 | ||||||
Kumho Petrochemical Co., Ltd. | 747 | 67,839 | ||||||
LG Chem, Ltd. | 636 | 230,318 | ||||||
LG Chem, Ltd. Preference Shares | 208 | 42,053 | ||||||
LG Corp. | 2,224 | 181,317 | ||||||
LG Display Co., Ltd. ADR (a) (b) | 23,890 | 289,069 | ||||||
LG Display Co., Ltd. | 3,045 | 73,847 | ||||||
LG Electronics, Inc. | 3,639 | 372,128 | ||||||
LG Household & Health Care, Ltd. | 849 | 949,440 |
54
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
LG Household & Health Care, Ltd. Preference Shares | 198 | $ | 130,402 | |||||
LG Innotek Co., Ltd. | 244 | 28,271 | ||||||
Lotte Chemical Corp. | 375 | 152,336 | ||||||
Lotte Corp. (a) | 1,605 | 95,466 | ||||||
Lotte Shopping Co., Ltd. | 547 | 120,084 | ||||||
Medy-Tox, Inc. | 423 | 296,326 | ||||||
Mirae Asset Daewoo Co., Ltd. | 9,263 | 80,038 | ||||||
NAVER Corp. | 3,542 | 2,611,889 | ||||||
NCSoft Corp. | 1,251 | 481,199 | ||||||
Netmarble Games Corp. (d) | 217 | 29,927 | ||||||
NH Investment & Securities Co., Ltd. | 2,852 | 37,326 | ||||||
OCI Co., Ltd. | 368 | 54,549 | ||||||
Orion Corp./Republic of Korea | 173 | 20,775 | ||||||
Ottogi Corp. | 4 | 2,668 | ||||||
Pan Ocean Co., Ltd. (a) | 4,977 | 24,654 | ||||||
POSCO ADR (a) | 9,100 | 717,535 | ||||||
POSCO | 550 | 173,891 | ||||||
Posco Daewoo Corp. | 3,207 | 69,050 | ||||||
S-1 Corp. | 6,634 | 597,489 | ||||||
Samsung Biologics Co., Ltd. (a) (d) | 1,072 | 488,781 | ||||||
Samsung C&T Corp. | 1,238 | 159,120 | ||||||
Samsung Card Co., Ltd. | 367 | 12,343 | ||||||
Samsung Electro-Mechanics Co., Ltd. | 2,138 | 214,622 | ||||||
Samsung Electronics Co., Ltd. GDR (c) | 3,218 | 3,687,828 | ||||||
Samsung Electronics Co., Ltd. Preference Shares | 131 | 248,874 | ||||||
Samsung Electronics Co., Ltd. | 740 | 1,702,299 | ||||||
Samsung Electronics Co., Ltd. GDR (c) | 768 | 728,064 | ||||||
Samsung Fire & Marine Insurance Co., Ltd. | 3,210 | 807,093 | ||||||
Samsung Heavy Industries Co., Ltd. (a) | 8,872 | 65,589 | ||||||
Samsung Life Insurance Co., Ltd. | 8,186 | 887,028 | ||||||
Samsung SDI Co., Ltd. | 2,129 | 381,498 | ||||||
Samsung SDS Co., Ltd. | 410 | 97,124 | ||||||
Samsung Securities Co., Ltd. | 1,502 | 55,379 | ||||||
Shinhan Financial Group Co., Ltd. | 4,093 | 173,374 | ||||||
Shinhan Financial Group Co., Ltd. ADR (a) (b) | 13,985 | 592,964 | ||||||
Shinsegae, Inc. | 193 | 63,102 | ||||||
SK Holdings Co., Ltd. | 1,781 | 498,760 | ||||||
SK Hynix, Inc. | 20,260 | 1,526,295 | ||||||
SK Innovation Co., Ltd. | 1,951 | 384,379 | ||||||
SK Networks Co., Ltd. | 12,549 | 68,167 | ||||||
SK Telecom Co., Ltd. ADR | 30,218 | 730,369 | ||||||
SK Telecom Co., Ltd. | 656 | 141,552 | ||||||
S-Oil Corp. | 798 | 89,465 | ||||||
Woori Bank | 14,854 | 200,673 | ||||||
Yuhan Corp. | 214 | 44,370 | ||||||
|
| |||||||
37,426,648 | ||||||||
|
| |||||||
TAIWAN — 14.5% | ||||||||
Acer, Inc. (a) | 155,258 | 128,862 |
Security Description | Shares | Value | ||||||
Advanced Semiconductor Engineering, Inc. | 250,248 | $ | 361,764 | |||||
Advantech Co., Ltd. | 126,951 | 909,996 | ||||||
Asia Cement Corp. | 43,200 | 41,634 | ||||||
Asia Pacific Telecom Co., Ltd. (a) | 9,000 | 2,815 | ||||||
Asustek Computer, Inc. | 63,000 | 586,634 | ||||||
AU Optronics Corp. | 772,000 | 357,444 | ||||||
Catcher Technology Co., Ltd. | 60,000 | 743,904 | ||||||
Cathay Financial Holding Co., Ltd. | 192,100 | 341,283 | ||||||
Chailease Holding Co., Ltd. | 10,160 | 34,846 | ||||||
Chang Hwa Commercial Bank, Ltd. | 142,585 | 82,401 | ||||||
Cheng Shin Rubber Industry Co., Ltd. | 38,000 | 61,711 | ||||||
Chicony Electronics Co., Ltd. | 238,644 | 606,493 | ||||||
China Airlines, Ltd. (a) | 127,000 | 46,389 | ||||||
China Development Financial Holding Corp. | 452,000 | 159,673 | ||||||
China Life Insurance Co., Ltd. | 52,711 | 54,687 | ||||||
China Steel Corp. | 263,440 | 209,617 | ||||||
Chunghwa Telecom Co., Ltd. | 739,540 | 2,828,093 | ||||||
Compal Electronics, Inc. | 394,000 | 268,234 | ||||||
CTBC Financial Holding Co., Ltd. | 511,900 | 366,935 | ||||||
Delta Electronics, Inc. | 239,623 | 1,068,388 | ||||||
E.Sun Financial Holding Co., Ltd. | 204,750 | 137,638 | ||||||
Eclat Textile Co., Ltd. | 16,379 | 190,996 | ||||||
Eva Airways Corp. | 211,279 | 108,331 | ||||||
Evergreen Marine Corp. Taiwan, Ltd. (a) | 38,985 | 20,123 | ||||||
Far Eastern New Century Corp. | 150,560 | 135,549 | ||||||
Far EasTone Telecommunications Co., Ltd. | 604,449 | 1,596,274 | ||||||
Feng TAY Enterprise Co., Ltd. | 36,468 | 165,724 | ||||||
First Financial Holding Co., Ltd. | 1,641,458 | 1,140,019 | ||||||
Formosa Chemicals & Fibre Corp. | 41,000 | 153,274 | ||||||
Formosa Petrochemical Corp. | 169,000 | 686,851 | ||||||
Formosa Plastics Corp. | 137,000 | 483,966 | ||||||
Formosa Taffeta Co., Ltd. | 15,000 | 16,514 | ||||||
Foxconn Technology Co., Ltd. | 127,892 | 342,572 | ||||||
Fubon Financial Holding Co., Ltd. | 180,000 | 309,291 | ||||||
General Interface Solution Holding, Ltd. | 11,000 | 66,588 | ||||||
Giant Manufacturing Co., Ltd. | 4,000 | 20,990 | ||||||
Globalwafers Co., Ltd. | 3,000 | 47,690 | ||||||
Highwealth Construction Corp. | 15,500 | 23,869 | ||||||
Hiwin Technologies Corp. | 1,020 | 14,518 | ||||||
Hon Hai Precision Industry Co., Ltd. | 1,973,163 | 6,090,636 | ||||||
Hotai Motor Co., Ltd. | 3,000 | 29,890 | ||||||
HTC Corp. (a) | 8,000 | 18,191 | ||||||
Hua Nan Financial Holdings Co., Ltd. | 1,447,009 | 868,493 | ||||||
Innolux Corp. | 749,751 | 327,857 | ||||||
Inventec Corp. | 142,000 | 112,501 | ||||||
Largan Precision Co., Ltd. | 11,000 | 1,250,643 | ||||||
Lite-On Technology Corp. | 446,952 | 623,896 | ||||||
MediaTek, Inc. | 28,877 | 327,821 | ||||||
Mega Financial Holding Co., Ltd. | 362,657 | 311,574 |
55
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Micro-Star International Co., Ltd. | 56,000 | $ | 187,646 | |||||
Nan Ya Plastics Corp. | 75,000 | 210,413 | ||||||
Nanya Technology Corp. | 173,000 | 547,652 | ||||||
Nien Made Enterprise Co., Ltd. | 16,000 | 153,102 | ||||||
Novatek Microelectronics Corp. | 64,000 | 289,742 | ||||||
Pegatron Corp. | 133,000 | 331,166 | ||||||
Phison Electronics Corp. | 26,000 | 270,638 | ||||||
Pou Chen Corp. | 49,000 | 65,038 | ||||||
Powertech Technology, Inc. | 80,000 | 249,408 | ||||||
President Chain Store Corp. | 148,000 | 1,487,259 | ||||||
Quanta Computer, Inc. | 171,000 | 344,850 | ||||||
Realtek Semiconductor Corp. | 3,000 | 12,913 | ||||||
Ruentex Development Co., Ltd. (a) | 11,443 | 13,461 | ||||||
Ruentex Industries, Ltd. (a) | 43,000 | 83,030 | ||||||
Shin Kong Financial Holding Co., Ltd. | 231,936 | 87,900 | ||||||
Siliconware Precision Industries Co., Ltd. | 748,300 | 1,306,323 | ||||||
SinoPac Financial Holdings Co., Ltd. | 460,620 | 162,719 | ||||||
Standard Foods Corp. | 84,168 | 197,163 | ||||||
Synnex Technology International Corp. | 408,900 | 610,047 | ||||||
Taishin Financial Holding Co., Ltd. | 258,027 | 126,549 | ||||||
Taiwan Business Bank | 522,575 | 155,928 | ||||||
Taiwan Cement Corp. | 66,000 | 82,735 | ||||||
Taiwan Cooperative Financial Holding Co., Ltd. | 2,648,165 | 1,557,637 | ||||||
Taiwan High Speed Rail Corp. | 18,000 | 13,767 | ||||||
Taiwan Mobile Co., Ltd. | 529,542 | 1,979,630 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 1,123,495 | 9,401,954 | ||||||
Teco Electric and Machinery Co., Ltd. | 32,000 | 26,395 | ||||||
Uni-President Enterprises Corp. | 77,164 | 180,756 | ||||||
United Microelectronics Corp. | 829,000 | 435,014 | ||||||
Vanguard International Semiconductor Corp. | 74,000 | 161,162 | ||||||
Win Semiconductors Corp. | 3,000 | 32,205 | ||||||
Winbond Electronics Corp. | 158,000 | 105,940 | ||||||
Wistron Corp. | 182,671 | 156,314 | ||||||
WPG Holdings, Ltd. | 230,000 | 297,390 | ||||||
Yageo Corp. | 3,000 | 53,503 | ||||||
Yuanta Financial Holding Co., Ltd. | 318,466 | 145,815 | ||||||
Zhen Ding Technology Holding, Ltd. | 15,000 | 35,909 | ||||||
|
| |||||||
46,443,155 | ||||||||
|
| |||||||
THAILAND — 3.7% | ||||||||
Advanced Info Service PCL (f) | 140,300 | 924,266 | ||||||
Airports of Thailand PCL (f) | 55,300 | 116,719 | ||||||
Airports of Thailand PCL NVDR | 352,870 | 744,785 | ||||||
Bangkok Bank PCL (f) | 3,700 | 25,321 | ||||||
Bangkok Bank PCL NVDR | 3,500 | 22,162 | ||||||
Bangkok Dusit Medical Services PCL (f) | 982,592 | 738,437 |
Security Description | Shares | Value | ||||||
Bangkok Expressway & Metro PCL (f) | 1,835,333 | $ | 422,590 | |||||
Banpu PCL (f) | 35,770 | 22,649 | ||||||
Berli Jucker PCL NVDR | 17,400 | 31,439 | ||||||
BTS Group Holdings PCL (f) | 2,280,898 | 605,419 | ||||||
Bumrungrad Hospital PCL (f) | 121,500 | 804,301 | ||||||
Central Pattana PCL NVDR | 43,100 | 108,198 | ||||||
Central Pattana PCL (f) | 97,900 | 245,767 | ||||||
Charoen Pokphand Foods PCL (f) | 80,086 | 64,668 | ||||||
CP ALL PCL (f) | 422,800 | 1,176,322 | ||||||
Delta Electronics Thailand PCL (f) | 179,444 | 380,178 | ||||||
Delta Electronics Thailand PCL NVDR | 300 | 636 | ||||||
Electricity Generating PCL (f) | 54,400 | 398,388 | ||||||
Energy Absolute PCL (f) | 900 | 1,259 | ||||||
Energy Absolute PCL NVDR | 2,700 | 3,778 | ||||||
Glow Energy PCL (f) | 97,300 | 264,487 | ||||||
Glow Energy PCL NVDR | 119,000 | 323,473 | ||||||
Home Product Center PCL (f) | 977,759 | 434,629 | ||||||
Indorama Ventures PCL (f) | 1,400 | 2,541 | ||||||
Indorama Ventures PCL NVDR | 36,200 | 65,697 | ||||||
IRPC PCL (f) | 274,100 | 63,551 | ||||||
Kasikornbank PCL (f) | 19,700 | 134,189 | ||||||
Kasikornbank PCL NVDR | 64,600 | 437,966 | ||||||
KCE Electronics PCL NVDR | 137,300 | 294,183 | ||||||
Krung Thai Bank PCL (f) | 136,800 | 83,121 | ||||||
Minor International PCL (f) | 17,800 | 21,631 | ||||||
Minor International PCL NVDR | 83,419 | 101,373 | ||||||
PTT Exploration & Production PCL (f) | 43,328 | 158,652 | ||||||
PTT Global Chemical PCL (f) | 58,803 | 178,177 | ||||||
PTT PCL (f) | 33,356 | 584,557 | ||||||
Robinson PCL NVDR | 76,700 | 153,302 | ||||||
Robinson PCL (f) | 19,200 | 38,375 | ||||||
Siam Cement PCL (f) | 61,150 | 966,041 | ||||||
Siam Cement PCL NVDR | 13,100 | 206,952 | ||||||
Siam Commercial Bank PCL (f) | 55,000 | 248,881 | ||||||
Thai Oil PCL (f) | 21,288 | 61,781 | ||||||
Thai Union Group PCL NVDR | 203,600 | 121,756 | ||||||
Thai Union Group PCL Class F (f) | 21,900 | 13,097 | ||||||
TMB Bank PCL (f) | 44,000 | 3,546 | ||||||
TMB Bank PCL NVDR | 271,600 | 21,888 | ||||||
True Corp. PCL (f) | 175,600 | 39,028 | ||||||
|
| |||||||
11,860,156 | ||||||||
|
| |||||||
TURKEY — 0.8% | ||||||||
Akbank Turk A/S | 84,929 | 204,958 | ||||||
Anadolu Efes Biracilik Ve Malt Sanayii A/S | 5,176 | 35,383 | ||||||
Arcelik A/S | 4,944 | 22,315 | ||||||
Aselsan Elektronik Sanayi Ve Ticaret A/S | 17,237 | 133,583 | ||||||
BIM Birlesik Magazalar A/S | 27,100 | 488,106 | ||||||
Coca-Cola Icecek A/S | 812 | 7,387 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S REIT (a) | 182,809 | 116,753 | ||||||
Eregli Demir ve Celik Fabrikalari TAS | 27,863 | 73,150 |
56
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Ford Otomotiv Sanayi A/S | 6,722 | $ | 104,103 | |||||
Haci Omer Sabanci Holding A/S | 23,481 | 62,120 | ||||||
KOC Holding A/S | 17,767 | 73,016 | ||||||
Petkim Petrokimya Holding A/S | 7,539 | 15,415 | ||||||
TAV Havalimanlari Holding A/S | 3,162 | 18,885 | ||||||
Tofas Turk Otomobil Fabrikasi A/S | 10,989 | 73,512 | ||||||
Tupras Turkiye Petrol Rafinerileri A/S | 13,178 | 365,594 | ||||||
Turk Hava Yollari AO (a) | 33,737 | 165,304 | ||||||
Turk Telekomunikasyon A/S (a) | 8,322 | 14,096 | ||||||
Turkcell Iletisim Hizmetleri A/S | 26,511 | 100,786 | ||||||
Turkiye Garanti Bankasi A/S | 83,331 | 229,290 | ||||||
Turkiye Halk Bankasi A/S | 52,591 | 120,147 | ||||||
Turkiye Is Bankasi A/S Class C | 81,818 | 147,262 | ||||||
Turkiye Sise ve Cam Fabrikalari A/S | 36,335 | 47,421 | ||||||
Turkiye Vakiflar Bankasi TAO | 34,937 | 57,326 | ||||||
Ulker Biskuvi Sanayi A/S | 1,166 | 6,464 | ||||||
Yapi ve Kredi Bankasi A/S (a) | 35,235 | 39,581 | ||||||
|
| |||||||
2,721,957 | ||||||||
|
| |||||||
UNITED ARAB EMIRATES — 1.1% |
| |||||||
Abu Dhabi Commercial Bank PJSC | 61,684 | 110,840 | ||||||
Aldar Properties PJSC | 86,266 | 50,026 | ||||||
DAMAC Properties Dubai Co. PJSC | 252,666 | 205,682 | ||||||
DP World, Ltd. | 24,486 | 550,935 | ||||||
Dubai Investments PJSC | 55,960 | 31,842 | ||||||
Dubai Islamic Bank PJSC | 128,861 | 186,293 | ||||||
DXB Entertainments PJSC (a) | 65,426 | 8,657 | ||||||
Emaar Malls PJSC | 6,474 | 3,790 | ||||||
Emaar Properties PJSC | 59,031 | 93,215 | ||||||
Emirates Telecommunications Group Co. PJSC | 284,453 | 1,366,892 | ||||||
First Abu Dhabi Bank PJSC | 322,043 | 1,025,838 | ||||||
|
| |||||||
3,634,010 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 319,059,582 | |||||||
|
| |||||||
RIGHTS — 0.0% (g) | ||||||||
SOUTH KOREA — 0.0% (g) | ||||||||
Samsung Heavy Industries Co., Ltd. (expires 4/13/18) (a) (Cost $0) | 4,217 | 8,209 | ||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 2.0% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (h) (i) | 419,516 | 419,516 |
Security Description | Shares | Value | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (h) (j) | 5,879,993 | $ | 5,879,993 | |||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 6,299,509 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 101.4% | 325,367,300 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.4)% | (4,366,673 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 321,000,627 | ||||||
|
|
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(d) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.7% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(e) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $0, representing 0.0% of the Fund’s net assets. |
(f) | Fair valued as determined ingood faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $9,222,568 representing 2.9% of net assets. |
(g) | Amount shown represents less than 0.05% of net assets. |
(h) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(i) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(j) | Investment of cash collateral for securities loaned. |
ADR | =American Depositary Receipt | |
GDR | =Global Depositary Receipt | |
NVDR | =Non Voting Depositary Receipt | |
REIT | =Real Estate Investment Trust |
57
Table of Contents
SPDR MSCI EMERGING MARKETS STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Brazil | $ | 17,221,558 | $ | — | $ | — | $ | 17,221,558 | ||||||||||||
Chile | 5,614,528 | — | — | 5,614,528 | ||||||||||||||||
China | 81,248,193 | — | 0 | (a) | 81,248,193 | |||||||||||||||
Colombia | 1,154,439 | — | — | 1,154,439 | ||||||||||||||||
Czech Republic | 1,104,488 | — | — | 1,104,488 | ||||||||||||||||
Egypt | 980,831 | — | — | 980,831 | ||||||||||||||||
Greece | 1,804,234 | — | — | 1,804,234 | ||||||||||||||||
Hong Kong | 3,043,190 | — | 0 | (a) | 3,043,190 | |||||||||||||||
Hungary | 1,198,467 | — | — | 1,198,467 | ||||||||||||||||
India | 31,339,601 | — | — | 31,339,601 | ||||||||||||||||
Indonesia | 13,210,460 | — | — | 13,210,460 | ||||||||||||||||
Malaysia | 11,820,217 | — | — | 11,820,217 | ||||||||||||||||
Mexico | 6,317,346 | — | — | 6,317,346 | ||||||||||||||||
Pakistan | 409,785 | — | — | 409,785 | ||||||||||||||||
Peru | 1,617,394 | — | — | 1,617,394 | ||||||||||||||||
Philippines | 4,690,661 | — | — | 4,690,661 | ||||||||||||||||
Poland | 3,348,162 | — | — | 3,348,162 | ||||||||||||||||
Qatar | 2,621,216 | — | — | 2,621,216 | ||||||||||||||||
Romania | 241,419 | — | — | 241,419 | ||||||||||||||||
Russia | 11,872,904 | — | — | 11,872,904 | ||||||||||||||||
South Africa | 16,114,563 | — | — | 16,114,563 | ||||||||||||||||
South Korea | 37,426,648 | — | — | 37,426,648 | ||||||||||||||||
Taiwan | 46,443,155 | — | — | 46,443,155 | ||||||||||||||||
Thailand | 2,637,588 | 9,222,568 | — | 11,860,156 | ||||||||||||||||
Turkey | 2,721,957 | — | — | 2,721,957 | ||||||||||||||||
United Arab Emirates | 3,634,010 | — | — | 3,634,010 | ||||||||||||||||
Rights | ||||||||||||||||||||
South Korea | 8,209 | — | — | 8,209 | ||||||||||||||||
Short-Term Investments | 6,299,509 | — | — | 6,299,509 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 316,144,732 | $ | 9,222,568 | $ | 0 | $ | 325,367,300 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $ 0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 647,704 | $ | 647,704 | $ | 12,177,070 | $ | 12,405,258 | $ | — | $ | — | 419,516 | $ | 419,516 | $ | 2,997 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 3,055,835 | 3,055,835 | 14,107,878 | 11,283,720 | — | — | 5,879,993 | 5,879,993 | 12,523 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 3,703,539 | $ | 26,284,948 | $ | 23,688,978 | $ | — | $ | — | $ | 6,299,509 | $ | 15,520 | $ | — | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
58
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.6% | ||||||||
ARGENTINA — 0.1% | ||||||||
MercadoLibre, Inc. | 50 | $ | 17,820 | |||||
|
| |||||||
AUSTRALIA — 1.3% | ||||||||
AGL Energy, Ltd. | 346 | 5,754 | ||||||
Amcor, Ltd. | 1,196 | 12,999 | ||||||
AMP, Ltd. | 901 | 3,449 | ||||||
Aurizon Holdings, Ltd. | 933 | 3,027 | ||||||
Australia & New Zealand Banking Group, Ltd. | 1,104 | 22,746 | ||||||
Bendigo & Adelaide Bank, Ltd. (a) | 246 | 1,857 | ||||||
BHP Billiton PLC | 275 | 5,415 | ||||||
BHP Billiton, Ltd. | 539 | 11,663 | ||||||
Brambles, Ltd. | 1,679 | 12,853 | ||||||
Caltex Australia, Ltd. | 88 | 2,119 | ||||||
Cochlear, Ltd. | 76 | 10,588 | ||||||
Commonwealth Bank of Australia | 468 | 25,958 | ||||||
CSL, Ltd. | 711 | 84,784 | ||||||
Flight Centre Travel Group, Ltd. (a) | 4 | 175 | ||||||
Fortescue Metals Group, Ltd. (a) | 1,049 | 3,484 | ||||||
Incitec Pivot, Ltd. | 499 | 1,343 | ||||||
Insurance Australia Group, Ltd. | 805 | 4,619 | ||||||
LendLease Group | 338 | 4,488 | ||||||
Macquarie Group, Ltd. | 80 | 6,314 | ||||||
Medibank Pvt, Ltd. | 793 | 1,764 | ||||||
National Australia Bank, Ltd. | 1,013 | 22,137 | ||||||
Newcrest Mining, Ltd. | 434 | 6,511 | ||||||
Oil Search, Ltd. | 398 | 2,183 | ||||||
Orica, Ltd. | 232 | 3,160 | ||||||
QBE Insurance Group, Ltd. | 438 | 3,235 | ||||||
REA Group, Ltd. | 108 | 6,562 | ||||||
Santos, Ltd. (b) | 4 | 16 | ||||||
Scentre Group REIT | 1,870 | 5,494 | ||||||
SEEK, Ltd. | 291 | 4,152 | ||||||
Sonic Healthcare, Ltd. | 406 | 7,125 | ||||||
South32, Ltd. | 761 | 1,880 | ||||||
Suncorp Group, Ltd. | 334 | 3,418 | ||||||
Telstra Corp., Ltd. | 10,568 | 25,453 | ||||||
Transurban Group Stapled Security | 127 | 1,112 | ||||||
Wesfarmers, Ltd. | 247 | 7,874 | ||||||
Westfield Corp. REIT | 2,273 | 14,855 | ||||||
Westpac Banking Corp. | 1,138 | 24,982 | ||||||
Woodside Petroleum, Ltd. | 301 | 6,751 | ||||||
Woolworths, Ltd. | 1,151 | 23,211 | ||||||
|
| |||||||
395,510 | ||||||||
|
| |||||||
AUSTRIA — 0.1% | ||||||||
Erste Group Bank AG | 132 | 6,623 | ||||||
OMV AG | 120 | 6,978 | ||||||
Raiffeisen Bank International AG (b) | 4 | 155 | ||||||
Voestalpine AG | 92 | 4,817 | ||||||
|
| |||||||
18,573 | ||||||||
|
| |||||||
BELGIUM — 0.3% | ||||||||
Ageas | 104 | 5,367 | ||||||
Anheuser-Busch InBev SA | 116 | 12,737 | ||||||
Colruyt SA | 84 | 4,641 |
Security Description | Shares | Value | ||||||
Groupe Bruxelles Lambert SA | 40 | $ | 4,565 | |||||
KBC Group NV | 76 | 6,610 | ||||||
Proximus SADP | 801 | 24,854 | ||||||
Solvay SA | 32 | 4,441 | ||||||
UCB SA | 192 | 15,627 | ||||||
Umicore SA | 168 | 8,870 | ||||||
|
| |||||||
87,712 | ||||||||
|
| |||||||
BERMUDA — 0.1% | ||||||||
RenaissanceRe Holdings, Ltd. | 240 | 33,242 | ||||||
|
| |||||||
CANADA — 3.0% | ||||||||
Agnico Eagle Mines, Ltd. | 738 | 31,026 | ||||||
Alimentation Couche-Tard, Inc. Class B | 382 | 17,087 | ||||||
Bank of Montreal | 539 | 40,687 | ||||||
Bank of Nova Scotia | 374 | 23,022 | ||||||
Barrick Gold Corp. | 2,357 | 29,343 | ||||||
BCE, Inc. | 627 | 26,962 | ||||||
Bombardier, Inc. Class B (b) | 773 | 2,248 | ||||||
Brookfield Asset Management, Inc. Class A | 196 | 7,635 | ||||||
Canadian Imperial Bank of Commerce | 322 | 28,402 | ||||||
Canadian National Railway Co. | 754 | 55,068 | ||||||
Canadian Natural Resources, Ltd. | 247 | 7,759 | ||||||
Canadian Pacific Railway, Ltd. | 128 | 22,557 | ||||||
Canadian Tire Corp., Ltd. Class A | 44 | 5,781 | ||||||
CI Financial Corp. (a) | 160 | 3,425 | ||||||
Constellation Software, Inc. | 24 | 16,273 | ||||||
Dollarama, Inc. | 20 | 2,429 | ||||||
Enbridge, Inc. | 204 | 6,412 | ||||||
Enbridge, Inc. | 204 | 6,420 | ||||||
Fairfax Financial Holdings, Ltd. | 48 | 24,314 | ||||||
First Capital Realty, Inc. | 479 | 7,561 | ||||||
Franco-Nevada Corp. | 957 | 65,247 | ||||||
Gildan Activewear, Inc. | 208 | 6,003 | ||||||
Goldcorp, Inc. | 2,420 | 33,393 | ||||||
Great-West Lifeco, Inc. | 148 | 3,774 | ||||||
Imperial Oil, Ltd. | 84 | 2,223 | ||||||
Intact Financial Corp. | 663 | 49,785 | ||||||
Loblaw Cos., Ltd. | 104 | 5,251 | ||||||
Magna International, Inc. | 523 | 29,439 | ||||||
Manulife Financial Corp. | 797 | 14,787 | ||||||
Metro, Inc. | 299 | 9,532 | ||||||
Nutrien, Ltd. (a) | 80 | 3,778 | ||||||
Onex Corp. | 72 | 5,189 | ||||||
Pembina Pipeline Corp. | 32 | 998 | ||||||
Power Corp. of Canada | 156 | 3,557 | ||||||
Power Financial Corp. | 132 | 3,303 | ||||||
PrairieSky Royalty, Ltd. (a) | 314 | 6,861 | ||||||
Restaurant Brands International, Inc. | 9 | 512 | ||||||
RioCan Real Estate Investment Trust | 587 | 10,763 | ||||||
Rogers Communications, Inc. Class B | 957 | 42,712 | ||||||
Royal Bank of Canada | 492 | 37,979 | ||||||
Saputo, Inc. | 224 | 7,184 |
59
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Shaw Communications, Inc. Class B | 1,440 | $ | 27,722 | |||||
SmartCentres Real Estate Investment Trust | 410 | 9,257 | ||||||
Sun Life Financial, Inc. (a) | 128 | 5,253 | ||||||
Suncor Energy, Inc. | 793 | 27,365 | ||||||
TELUS Corp. | 627 | 22,002 | ||||||
Thomson Reuters Corp. | 595 | 22,979 | ||||||
Toronto-Dominion Bank | 1,164 | 66,007 | ||||||
Wheaton Precious Metals Corp. | 607 | 12,359 | ||||||
|
| |||||||
899,625 | ||||||||
|
| |||||||
CHILE — 0.0% (c) | ||||||||
Antofagasta PLC | 148 | 1,912 | ||||||
|
| |||||||
DENMARK — 1.2% | ||||||||
Carlsberg A/S Class B | 40 | 4,757 | ||||||
Chr Hansen Holding A/S | 293 | 25,186 | ||||||
Coloplast A/S Class B | 374 | 31,508 | ||||||
Danske Bank A/S | 208 | 7,735 | ||||||
DONG Energy A/S (d) | 583 | 37,707 | ||||||
DSV A/S | 247 | 19,329 | ||||||
H Lundbeck A/S | 398 | 22,182 | ||||||
ISS A/S | 185 | 6,825 | ||||||
Novo Nordisk A/S Class B | 2,886 | 141,660 | ||||||
Novozymes A/S Class B | 370 | 19,071 | ||||||
Pandora A/S | 136 | 14,581 | ||||||
Tryg A/S | 240 | 5,564 | ||||||
Vestas Wind Systems A/S | 32 | 2,269 | ||||||
William Demant Holding A/S (b) | 715 | 26,449 | ||||||
|
| |||||||
364,823 | ||||||||
|
| |||||||
FINLAND — 0.3% | ||||||||
Elisa Oyj | 667 | 30,163 | ||||||
Fortum Oyj (a) | 4 | 86 | ||||||
Kone Oyj Class B | 398 | 19,839 | ||||||
Nokia Oyj | 511 | 2,818 | ||||||
Nokia Oyj | 579 | 3,188 | ||||||
Orion Oyj Class B | 140 | 4,282 | ||||||
Sampo Oyj Class A | 96 | 5,344 | ||||||
Stora Enso Oyj Class R (a) | 410 | 7,526 | ||||||
UPM-Kymmene Oyj | 236 | 8,736 | ||||||
Wartsila Oyj Abp | 432 | 9,537 | ||||||
|
| |||||||
91,519 | ||||||||
|
| |||||||
FRANCE — 2.3% | ||||||||
Aeroports de Paris | 100 | 21,768 | ||||||
Air Liquide SA | 69 | 8,442 | ||||||
Airbus SE | 120 | 13,843 | ||||||
Alstom SA | 108 | 4,863 | ||||||
Arkema SA | 44 | 5,736 | ||||||
AXA SA | 1,037 | 27,548 | ||||||
BNP Paribas SA | 695 | 51,430 | ||||||
Bouygues SA | 108 | 5,407 | ||||||
Bureau Veritas SA | 4 | 104 | ||||||
Capgemini SE | 56 | 6,970 | ||||||
Carrefour SA (a) | 258 | 5,347 | ||||||
Casino Guichard Perrachon SA (a) | 4 | 196 | ||||||
Cie de Saint-Gobain | 152 | 8,012 | ||||||
Cie Generale des Etablissements Michelin SCA | 68 | 10,027 |
Security Description | Shares | Value | ||||||
CNP Assurances | 192 | $ | 4,841 | |||||
Credit Agricole SA | 1,332 | 21,632 | ||||||
Danone SA | 106 | 8,569 | ||||||
Dassault Systemes SE | 100 | 13,578 | ||||||
Electricite de France SA | 4 | 58 | ||||||
Engie SA | 1,014 | 16,904 | ||||||
Essilor International Cie Generaled’Optique SA | 60 | 8,087 | ||||||
Hermes International | 35 | 20,726 | ||||||
Iliad SA | 4 | 826 | ||||||
Kering SA | 20 | 9,563 | ||||||
Lagardere SCA | 4 | 114 | ||||||
Legrand SA | 64 | 5,014 | ||||||
L’Oreal SA | 251 | 56,599 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 286 | 88,005 | ||||||
Natixis SA | 627 | 5,134 | ||||||
Orange SA | 845 | 14,326 | ||||||
Pernod Ricard SA | 40 | 6,653 | ||||||
Peugeot SA | 322 | 7,742 | ||||||
Publicis Groupe SA | 134 | 9,324 | ||||||
Renault SA | 100 | 12,114 | ||||||
Rexel SA | 176 | 2,976 | ||||||
Safran SA | 64 | 6,767 | ||||||
Sanofi | 251 | 20,167 | ||||||
Schneider Electric SE | 104 | 9,125 | ||||||
SCOR SE | 116 | 4,745 | ||||||
Societe BIC SA | 32 | 3,182 | ||||||
Societe Generale SA | 599 | 32,532 | ||||||
Sodexo SA | 40 | 4,029 | ||||||
Suez | 220 | 3,185 | ||||||
Thales SA | 112 | 13,628 | ||||||
TOTAL SA | 1,151 | 65,300 | ||||||
Unibail-Rodamco SE REIT (a) | 20 | 4,566 | ||||||
Valeo SA | 275 | 18,141 | ||||||
Veolia Environnement SA | 244 | 5,775 | ||||||
Vinci SA | 148 | 14,543 | ||||||
Vivendi SA | 228 | 5,889 | ||||||
|
| |||||||
694,052 | ||||||||
|
| |||||||
GERMANY — 2.5% | ||||||||
adidas AG | 192 | 46,435 | ||||||
Allianz SE | 180 | 40,600 | ||||||
BASF SE | 306 | 31,036 | ||||||
Bayer AG | 168 | 18,965 | ||||||
Bayerische Motoren Werke AG | 180 | 19,514 | ||||||
Bayerische Motoren Werke AG Preference Shares | 44 | 4,121 | ||||||
Beiersdorf AG | 88 | 9,959 | ||||||
Brenntag AG | 72 | 4,277 | ||||||
Commerzbank AG (b) | 1,336 | 17,325 | ||||||
Continental AG | 128 | 35,309 | ||||||
Covestro AG (d) | 149 | 14,634 | ||||||
Daimler AG | 523 | 44,362 | ||||||
Deutsche Bank AG | 2,032 | 28,304 | ||||||
Deutsche Boerse AG | 24 | 3,265 | ||||||
Deutsche Lufthansa AG | 4 | 128 | ||||||
Deutsche Post AG | 1,136 | 49,625 | ||||||
Deutsche Telekom AG | 1,124 | 18,316 |
60
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
E.ON SE | 1,563 | $ | 17,339 | |||||
Fresenius Medical Care AG & Co. KGaA | 40 | 4,082 | ||||||
Fresenius SE & Co. KGaA | 84 | 6,411 | ||||||
Fuchs Petrolub SE Preference Shares | 88 | 4,773 | ||||||
Hannover Rueck SE | 48 | 6,547 | ||||||
HeidelbergCement AG | 48 | 4,710 | ||||||
Henkel AG & Co. KGaA Preference Shares | 180 | 23,654 | ||||||
Henkel AG & Co. KGaA | 108 | 13,588 | ||||||
HUGO BOSS AG | 92 | 8,006 | ||||||
Infineon Technologies AG | 374 | 10,000 | ||||||
KS AG | 116 | 3,344 | ||||||
Lanxess AG | 60 | 4,590 | ||||||
Linde AG (b) | 40 | 8,417 | ||||||
MAN SE | 180 | 20,975 | ||||||
Merck KGaA | 48 | 4,599 | ||||||
METRO AG | 338 | 5,982 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 84 | 19,510 | ||||||
Porsche Automobil Holding SE Preference Shares | 240 | 19,924 | ||||||
ProSiebenSat.1 Media SE | 200 | 6,931 | ||||||
RWE AG (b) | 723 | 17,837 | ||||||
SAP SE | 120 | 12,540 | ||||||
Siemens AG | 204 | 25,972 | ||||||
Telefonica Deutschland Holding AG | 1,288 | 6,045 | ||||||
ThyssenKrupp AG | 148 | 3,857 | ||||||
TUI AG | 1,751 | 37,532 | ||||||
United Internet AG | 120 | 7,541 | ||||||
Volkswagen AG | 64 | 12,798 | ||||||
Volkswagen AG Preference Shares | 208 | 41,282 | ||||||
|
| |||||||
744,961 | ||||||||
|
| |||||||
HONG KONG — 1.9% | ||||||||
AIA Group, Ltd. | 1,600 | 13,537 | ||||||
Bank of East Asia, Ltd. | 2,524 | 10,066 | ||||||
BOC Hong Kong Holdings, Ltd. | 4,000 | 19,469 | ||||||
CK Asset Holdings, Ltd. | 1,770 | 14,851 | ||||||
CK Hutchison Holdings, Ltd. | 2,000 | 23,929 | ||||||
CK Infrastructure Holdings, Ltd. | 4,000 | 32,695 | ||||||
CLP Holdings, Ltd. | 8,000 | 81,444 | ||||||
Hang Seng Bank, Ltd. | 4,000 | 92,555 | ||||||
HK Electric Investments & HK Electric Investments, Ltd. (a) (d) | 13,831 | 13,393 | ||||||
HKT Trust & HKT, Ltd. | 15,540 | 19,543 | ||||||
Hong Kong & China Gas Co., Ltd. | 17,193 | 35,314 | ||||||
Hong Kong Exchanges & Clearing, Ltd. | 1,238 | 40,256 | ||||||
Jardine Matheson Holdings, Ltd. | 100 | 6,162 | ||||||
Jardine Strategic Holdings, Ltd. | 400 | 15,336 | ||||||
Link REIT | 4,000 | 34,147 | ||||||
MTR Corp., Ltd. | 8,059 | 43,333 | ||||||
New World Development Co., Ltd. | 4,267 | 6,024 | ||||||
Power Assets Holdings, Ltd. | 4,000 | 35,651 | ||||||
Sands China, Ltd. | 3,200 | 17,206 |
Security Description | Shares | Value | ||||||
Yue Yuen Industrial Holdings, Ltd. | 4,000 | $ | 15,876 | |||||
|
| |||||||
570,787 | ||||||||
|
| |||||||
IRELAND — 0.4% | ||||||||
AerCap Holdings NV (b) | 398 | 20,187 | ||||||
Bank of Ireland Group PLC (b) | 365 | 3,192 | ||||||
CRH PLC | 177 | 6,002 | ||||||
James Hardie Industries PLC | 434 | 7,613 | ||||||
Kerry Group PLC Class A | 422 | 42,765 | ||||||
Paddy Power Betfair PLC | 76 | 7,800 | ||||||
Ryanair Holdings PLC ADR (b) | 100 | 12,285 | ||||||
XL Group, Ltd. | 128 | 7,073 | ||||||
|
| |||||||
106,917 | ||||||||
|
| |||||||
ISRAEL — 0.4% | ||||||||
Azrieli Group, Ltd. | 224 | 10,725 | ||||||
Bank Hapoalim BM | 3,904 | 26,732 | ||||||
Bank Leumi Le-Israel BM | 3,341 | 20,089 | ||||||
Bezeq The Israeli Telecommunication Corp., Ltd. | 4,653 | 5,937 | ||||||
Check Point Software Technologies, Ltd. (b) | 279 | 27,716 | ||||||
Israel Chemicals, Ltd. | 4 | 17 | ||||||
Mizrahi Tefahot Bank, Ltd. | 781 | 14,911 | ||||||
Nice, Ltd. | 62 | 5,752 | ||||||
Teva Pharmaceutical Industries, Ltd. | 607 | 10,297 | ||||||
|
| |||||||
122,176 | ||||||||
|
| |||||||
ITALY — 0.7% | ||||||||
Assicurazioni Generali SpA | 801 | 15,392 | ||||||
Atlantia SpA | 152 | 4,702 | ||||||
Enel SpA | 3,728 | 22,787 | ||||||
Eni SpA | 519 | 9,120 | ||||||
Ferrari NV | 104 | 12,476 | ||||||
Intesa Sanpaolo SpA | 4,601 | 16,713 | ||||||
Luxottica Group SpA | 301 | 18,694 | ||||||
Mediobanca Banca di Credito Finanziario SpA | 909 | 10,674 | ||||||
Snam SpA | 8,709 | 39,983 | ||||||
Telecom Italia SpA/Milano (b) | 6,915 | 6,557 | ||||||
Telecom Italia SpA/Milano | 5,376 | 4,472 | ||||||
UniCredit SpA (b) | 1,833 | 38,296 | ||||||
|
| |||||||
199,866 | ||||||||
|
| |||||||
JAPAN — 10.2% | ||||||||
ABC-Mart, Inc. | 400 | 26,178 | ||||||
Aeon Co., Ltd. | 400 | 7,069 | ||||||
Ajinomoto Co., Inc. | 800 | 14,432 | ||||||
ANA Holdings, Inc. | 800 | 30,714 | ||||||
Aozora Bank, Ltd. | 400 | 15,910 | ||||||
Astellas Pharma, Inc. | 4,400 | 66,858 | ||||||
Benesse Holdings, Inc. | 400 | 14,368 | ||||||
Bridgestone Corp. | 400 | 17,407 | ||||||
Canon, Inc. | 2,100 | 76,023 | ||||||
Chubu Electric Power Co., Inc. | 400 | 5,706 | ||||||
Chugai Pharmaceutical Co., Ltd. | 400 | 20,047 | ||||||
Chugoku Electric Power Co., Inc. (a) | 400 | 4,859 | ||||||
Concordia Financial Group, Ltd. | 400 | 2,230 | ||||||
Dai-ichi Life Holdings, Inc. | 1,200 | 21,946 |
61
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Daiichi Sankyo Co., Ltd. | 800 | $ | 26,591 | |||||
Daito Trust Construction Co., Ltd. | 300 | 50,804 | ||||||
Daiwa House REIT Investment Corp. | 6 | 14,465 | ||||||
Denso Corp. | 400 | 21,747 | ||||||
East Japan Railway Co. | 100 | 9,283 | ||||||
Eisai Co., Ltd. | 400 | 25,523 | ||||||
FUJIFILM Holdings Corp. | 400 | 15,782 | ||||||
Hino Motors, Ltd. | 400 | 5,138 | ||||||
Hitachi Construction Machinery Co., Ltd. (a) | 400 | 15,270 | ||||||
Hitachi, Ltd. | 4,000 | 28,701 | ||||||
Honda Motor Co., Ltd. | 800 | 27,389 | ||||||
Hoya Corp. | 400 | 19,968 | ||||||
Idemitsu Kosan Co., Ltd. | 400 | 15,045 | ||||||
Inpex Corp. | 800 | 9,753 | ||||||
Isetan Mitsukoshi Holdings, Ltd. | 400 | 4,374 | ||||||
Isuzu Motors, Ltd. | 400 | 6,052 | ||||||
ITOCHU Corp. (a) | 1,200 | 23,148 | ||||||
Japan Airlines Co., Ltd. | 800 | 32,263 | ||||||
Japan Exchange Group, Inc. | 400 | 7,391 | ||||||
Japan Post Bank Co., Ltd. | 400 | 5,390 | ||||||
Japan Post Holdings Co., Ltd. | 400 | 4,833 | ||||||
Japan Prime Realty Investment Corp. REIT | 4 | 14,480 | ||||||
Japan Real Estate Investment Corp. REIT | 4 | 20,724 | ||||||
Japan Retail Fund Investment Corp. REIT | 12 | 23,244 | ||||||
Japan Tobacco, Inc. | 1,200 | 34,245 | ||||||
JFE Holdings, Inc. | 800 | 15,928 | ||||||
JTEKT Corp. | 400 | 5,785 | ||||||
JXTG Holdings, Inc. | 2,500 | 14,988 | ||||||
Kajima Corp. | 1,000 | 9,281 | ||||||
Kakaku.com, Inc. | 800 | 13,924 | ||||||
Kansai Electric Power Co., Inc. | 400 | 5,187 | ||||||
Kao Corp. | 400 | 29,834 | ||||||
Kawasaki Heavy Industries, Ltd. | 400 | 12,732 | ||||||
KDDI Corp. | 2,800 | 71,231 | ||||||
Keikyu Corp. | 1,000 | 17,442 | ||||||
Keyence Corp. | 100 | 61,589 | ||||||
Kirin Holdings Co., Ltd. | 1,100 | 29,101 | ||||||
Kobe Steel, Ltd. (b) | 400 | 3,923 | ||||||
Komatsu, Ltd. | 400 | 13,183 | ||||||
Konami Holdings Corp. | 300 | 15,007 | ||||||
Konica Minolta, Inc. | 400 | 3,359 | ||||||
Kubota Corp. | 400 | 6,939 | ||||||
Kyowa Hakko Kirin Co., Ltd. | 800 | 17,204 | ||||||
Kyushu Electric Power Co., Inc. | 400 | 4,799 | ||||||
Kyushu Financial Group, Inc. | 400 | 1,978 | ||||||
Kyushu Railway Co. | 657 | 20,386 | ||||||
Lawson, Inc. | 100 | 6,808 | ||||||
M3, Inc. (a) | 400 | 18,129 | ||||||
Marubeni Corp. | 4,000 | 28,837 | ||||||
Mazda Motor Corp. | 400 | 5,301 | ||||||
McDonald’s Holdings Co. Japan, Ltd. | 400 | 18,843 | ||||||
MEIJI Holdings Co., Ltd. | 100 | 7,645 |
Security Description | Shares | Value | ||||||
Mitsubishi Chemical Holdings Corp. | 1,200 | $ | 11,509 | |||||
Mitsubishi Corp. | 900 | 23,911 | ||||||
Mitsubishi Heavy Industries, Ltd. | 400 | 15,267 | ||||||
Mitsubishi Motors Corp. (a) | 1,200 | 8,485 | ||||||
Mitsubishi Tanabe Pharma Corp. | 1,200 | 24,102 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 10,800 | 70,710 | ||||||
Mitsubishi UFJ Lease & Finance Co., Ltd. | 400 | 2,358 | ||||||
Mitsui & Co., Ltd. | 1,200 | 20,423 | ||||||
Mitsui OSK Lines, Ltd. | 400 | 11,227 | ||||||
Mizuho Financial Group, Inc. (a) | 20,000 | 36,013 | ||||||
MS&AD Insurance Group Holdings, Inc. | 400 | 12,322 | ||||||
Nagoya Railroad Co., Ltd. | 800 | 20,265 | ||||||
NGK Spark Plug Co., Ltd. | 400 | 9,512 | ||||||
NH Foods, Ltd. | 500 | 20,428 | ||||||
Nikon Corp. | 400 | 7,142 | ||||||
Nippon Building Fund, Inc. REIT | 4 | 22,116 | ||||||
Nippon Prologis REIT, Inc. | 8 | 17,309 | ||||||
Nippon Steel & Sumitomo Metal Corp. | 400 | 8,681 | ||||||
Nippon Telegraph & Telephone Corp. | 1,900 | 87,577 | ||||||
Nippon Yusen KK | 400 | 7,752 | ||||||
Nissan Motor Co., Ltd. (a) | 1,600 | 16,466 | ||||||
Nissin Foods Holdings Co., Ltd. | 400 | 27,607 | ||||||
Nitori Holdings Co., Ltd. | 300 | 52,144 | ||||||
Nomura Holdings, Inc. | 2,000 | 11,494 | ||||||
Nomura Real Estate Master Fund, Inc. | 16 | 22,221 | ||||||
Nomura Research Institute, Ltd. | 800 | 37,273 | ||||||
NSK, Ltd. | 800 | 10,591 | ||||||
NTT Data Corp. | 4,000 | 41,486 | ||||||
NTT DOCOMO, Inc. | 3,668 | 92,761 | ||||||
Oracle Corp. Japan | 400 | 32,684 | ||||||
Oriental Land Co., Ltd. | 400 | 40,583 | ||||||
ORIX Corp. | 400 | 7,065 | ||||||
Osaka Gas Co., Ltd. | 800 | 15,774 | ||||||
Otsuka Corp. | 800 | 40,320 | ||||||
Otsuka Holdings Co., Ltd. | 800 | 39,816 | ||||||
Panasonic Corp. | 1,200 | 16,965 | ||||||
Park24 Co., Ltd. (a) | 400 | 10,840 | ||||||
Rakuten, Inc. | 400 | 3,283 | ||||||
Recruit Holdings Co., Ltd. | 1,198 | 29,558 | ||||||
Resona Holdings, Inc. | 2,000 | 10,623 | ||||||
Ricoh Co., Ltd. | 400 | 3,900 | ||||||
Sankyo Co., Ltd. | 400 | 13,916 | ||||||
Santen Pharmaceutical Co., Ltd. | 500 | 8,275 | ||||||
SBI Holdings, Inc. (a) | 400 | 9,185 | ||||||
Secom Co., Ltd. | 500 | 36,812 | ||||||
Sekisui House, Ltd. | 400 | 7,267 | ||||||
Seven & i Holdings Co., Ltd. | 400 | 17,046 | ||||||
Shionogi & Co., Ltd. (a) | 400 | 20,630 | ||||||
Showa Shell Sekiyu KK | 800 | 10,764 | ||||||
SoftBank Group Corp. | 400 | 29,360 | ||||||
Sompo Holdings, Inc. | 400 | 15,951 |
62
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Sony Corp. | 400 | $ | 19,220 | |||||
Subaru Corp. | 800 | 26,245 | ||||||
Sumitomo Corp. | 800 | 13,232 | ||||||
Sumitomo Electric Industries, Ltd. | 400 | 6,042 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 1,200 | 50,223 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 400 | 16,184 | ||||||
Suntory Beverage & Food, Ltd. | 800 | 38,740 | ||||||
Suzuken Co., Ltd. | 400 | 16,662 | ||||||
T&D Holdings, Inc. | 800 | 12,589 | ||||||
Taisho Pharmaceutical Holdings Co., Ltd. (a) | 400 | 39,304 | ||||||
Takeda Pharmaceutical Co., Ltd. | 789 | 37,985 | ||||||
Terumo Corp. | 400 | 20,611 | ||||||
Tobu Railway Co., Ltd. | 800 | 24,222 | ||||||
Toho Co., Ltd. | 400 | 13,183 | ||||||
Tohoku Electric Power Co., Inc. (a) | 400 | 5,397 | ||||||
Tokio Marine Holdings, Inc. | 400 | 17,952 | ||||||
Tokyo Electric Power Co. Holdings, Inc. (b) | 1,200 | 4,660 | ||||||
Toshiba Corp. (b) | 4,000 | 11,509 | ||||||
Toyo Suisan Kaisha, Ltd. | 400 | 15,722 | ||||||
Toyota Motor Corp. | 1,500 | 96,502 | ||||||
Toyota Tsusho Corp. | 400 | 13,333 | ||||||
Unicharm Corp. | 400 | 11,468 | ||||||
United Urban Investment Corp. REIT | 12 | 18,753 | ||||||
USS Co., Ltd. | 1,200 | 24,305 | ||||||
Yahoo! Japan Corp. (a) | 1,600 | 7,432 | ||||||
Yamada Denki Co., Ltd. (a) | 3,500 | 21,095 | ||||||
Yamaha Motor Co., Ltd. | 400 | 11,754 | ||||||
Yamato Holdings Co., Ltd. | 100 | 2,491 | ||||||
Yokohama Rubber Co., Ltd. | 400 | 9,155 | ||||||
|
| |||||||
3,020,452 | ||||||||
|
| |||||||
LUXEMBOURG — 0.1% | ||||||||
ArcelorMittal (b) | 395 | 12,485 | ||||||
RTL Group SA | 132 | 10,950 | ||||||
SES SA | 68 | 918 | ||||||
Tenaris SA | 184 | 3,157 | ||||||
|
| |||||||
27,510 | ||||||||
|
| |||||||
MEXICO — 0.0% (c) | ||||||||
Fresnillo PLC | 16 | 285 | ||||||
|
| |||||||
NETHERLANDS — 1.0% | ||||||||
Aegon NV | 1,257 | 8,466 | ||||||
Akzo Nobel NV | 60 | 5,663 | ||||||
Altice NV Class A (a) (b) | 48 | 395 | ||||||
ASML Holding NV | 382 | 75,239 | ||||||
EXOR NV | 108 | 7,667 | ||||||
Heineken Holding NV | 64 | 6,588 | ||||||
Heineken NV | 64 | 6,871 | ||||||
ING Groep NV | 1,723 | 29,031 | ||||||
Koninklijke Ahold Delhaize NV | 472 | 11,170 | ||||||
Koninklijke DSM NV | 56 | 5,554 | ||||||
Koninklijke KPN NV | 1,340 | 4,016 | ||||||
Koninklijke Philips NV | 232 | 8,892 | ||||||
NN Group NV | 234 | 10,372 |
Security Description | Shares | Value | ||||||
Randstad Holding NV (a) | 72 | $ | 4,730 | |||||
Royal Dutch Shell PLC Class A | 1,823 | 57,117 | ||||||
Royal Dutch Shell PLC Class B | 1,599 | 51,075 | ||||||
|
| |||||||
292,846 | ||||||||
|
| |||||||
NEW ZEALAND — 0.1% | ||||||||
Auckland International Airport, Ltd. | 4,278 | 18,887 | ||||||
Ryman Healthcare, Ltd. | 2,037 | 15,562 | ||||||
|
| |||||||
34,449 | ||||||||
|
| |||||||
NORWAY — 0.1% | ||||||||
DNB ASA | 374 | 7,248 | ||||||
Norsk Hydro ASA | 773 | 4,524 | ||||||
Statoil ASA | 489 | 11,501 | ||||||
Telenor ASA | 180 | 4,058 | ||||||
Yara International ASA | 240 | 10,122 | ||||||
|
| |||||||
37,453 | ||||||||
|
| |||||||
PORTUGAL — 0.0% (c) | ||||||||
EDP - Energias de Portugal SA | 905 | 3,437 | ||||||
Galp Energia SGPS SA | 240 | 4,517 | ||||||
Jeronimo Martins SGPS SA | 287 | 5,226 | ||||||
|
| |||||||
13,180 | ||||||||
|
| |||||||
SINGAPORE — 0.7% | ||||||||
Broadcom, Ltd. | 36 | 8,483 | ||||||
CapitaLand Commercial Trust | 10,900 | 15,212 | ||||||
Keppel Corp., Ltd. | 1,500 | 8,888 | ||||||
Oversea-Chinese Banking Corp., Ltd. | 4,026 | 39,361 | ||||||
SATS, Ltd. | 4,108 | 16,071 | ||||||
Singapore Airlines, Ltd. | 4,000 | 33,066 | ||||||
Singapore Press Holdings, Ltd. (a) | 8,000 | 15,374 | ||||||
Singapore Telecommunications, Ltd. | 27,042 | 69,497 | ||||||
StarHub, Ltd. (a) | 4,000 | 7,016 | ||||||
|
| |||||||
212,968 | ||||||||
|
| |||||||
SOUTH AFRICA — 0.1% | ||||||||
Investec PLC | 220 | 1,696 | ||||||
Mondi PLC | 450 | 12,089 | ||||||
|
| |||||||
13,785 | ||||||||
|
| |||||||
SPAIN — 0.9% | ||||||||
ACS Actividades de Construccion y Servicios SA | 107 | 4,165 | ||||||
Amadeus IT Group SA | 727 | 53,628 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 4,174 | 33,003 | ||||||
Banco de Sabadell SA | 1,667 | 3,405 | ||||||
Banco Santander SA | 7,881 | 51,322 | ||||||
CaixaBank SA | 4 | 19 | ||||||
Endesa SA | 603 | 13,264 | ||||||
Ferrovial SA | 203 | 4,235 | ||||||
Gas Natural SDG SA | 4 | 95 | ||||||
Iberdrola SA | 2,487 | 18,266 | ||||||
Industria de Diseno Textil SA | 1,172 | 36,654 | ||||||
Mapfre SA | 750 | 2,491 | ||||||
Repsol SA | 1,212 | 21,487 | ||||||
Telefonica SA | 1,848 | 18,246 | ||||||
|
| |||||||
260,280 | ||||||||
|
|
63
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SWEDEN — 0.8% | ||||||||
Alfa Laval AB | 303 | $ | 7,133 | |||||
Assa Abloy AB Class B | 969 | 20,867 | ||||||
Atlas Copco AB Class A | 719 | 31,010 | ||||||
Atlas Copco AB Class B | 422 | 16,351 | ||||||
Autoliv, Inc. | 40 | 5,838 | ||||||
Boliden AB | 295 | 10,303 | ||||||
Electrolux AB Class B | 168 | 5,266 | ||||||
Essity AB Class B (b) | 144 | 3,965 | ||||||
Hennes & Mauritz AB Class B (a) | 1,188 | 17,757 | ||||||
Investor AB Class B | 731 | 32,226 | ||||||
Kinnevik AB Class B | 310 | 11,120 | ||||||
Nordea Bank AB | 1,472 | 15,661 | ||||||
Sandvik AB | 279 | 5,079 | ||||||
Skandinaviska Enskilda Banken AB Class A | 459 | 4,792 | ||||||
Skanska AB Class B | 418 | 8,518 | ||||||
SKF AB Class B (a) | 430 | 8,754 | ||||||
Svenska Handelsbanken AB Class A | 418 | 5,201 | ||||||
Swedbank AB Class A | 267 | 5,962 | ||||||
Telefonaktiebolaget LM Ericsson Class B (a) | 675 | 4,265 | ||||||
Telia Co. AB | 691 | 3,235 | ||||||
Volvo AB Class B | 430 | 7,817 | ||||||
|
| |||||||
231,120 | ||||||||
|
| |||||||
SWITZERLAND — 4.5% | ||||||||
ABB, Ltd. | 438 | 10,392 | ||||||
Adecco Group AG | 204 | 14,486 | ||||||
Baloise Holding AG | 36 | 5,493 | ||||||
Barry Callebaut AG | 4 | 7,803 | ||||||
Chocoladefabriken Lindt & Spruengli AG | 1 | 6,187 | ||||||
Chocoladefabriken Lindt & Spruengli AG | 1 | 72,577 | ||||||
Cie Financiere Richemont SA | 4 | 358 | ||||||
Credit Suisse Group AG (b) | 1,413 | 23,594 | ||||||
EMS-Chemie Holding AG | 52 | 32,744 | ||||||
Ferguson PLC | 275 | 20,654 | ||||||
Geberit AG | 40 | 17,644 | ||||||
Givaudan SA | 16 | 36,358 | ||||||
Glencore PLC (b) | 9,175 | 45,537 | ||||||
Julius Baer Group, Ltd. (b) | 134 | 8,220 | ||||||
Kuehne + Nagel International AG | 326 | 51,167 | ||||||
LafargeHolcim, Ltd. (b) | 220 | 12,016 | ||||||
Nestle SA | 1,762 | 139,142 | ||||||
Novartis AG | 1,168 | 94,235 | ||||||
Partners Group Holding AG | 94 | 69,695 | ||||||
Roche Holding AG | 1,200 | 274,561 | ||||||
Schindler Holding AG | 76 | 16,349 | ||||||
Schindler Holding AG | 124 | 25,898 | ||||||
SGS SA | 4 | 9,808 | ||||||
Sika AG | 4 | 31,266 | ||||||
Sonova Holding AG | 275 | 43,593 | ||||||
STMicroelectronics NV | 208 | 4,601 | ||||||
Straumann Holding AG | 56 | 35,205 | ||||||
Swatch Group AG | 4 | 334 | ||||||
Swiss Life Holding AG (b) | 16 | 5,686 | ||||||
Swiss Prime Site AG (b) | 295 | 28,480 |
Security Description | Shares | Value | ||||||
Swiss Re AG | 156 | $ | 15,848 | |||||
Swisscom AG | 136 | 67,262 | ||||||
TE Connectivity, Ltd. | 406 | 40,559 | ||||||
UBS Group AG (b) | 1,603 | 28,115 | ||||||
Vifor Pharma AG | 40 | 6,151 | ||||||
Zurich Insurance Group AG (b) | 52 | 17,018 | ||||||
|
| |||||||
1,319,036 | ||||||||
|
| |||||||
UNITED KINGDOM — 6.1% | ||||||||
3i Group PLC | 422 | 5,085 | ||||||
Admiral Group PLC | 255 | 6,596 | ||||||
Anglo American PLC (a) | 1,371 | 31,945 | ||||||
Ashtead Group PLC | 96 | 2,613 | ||||||
Associated British Foods PLC | 84 | 2,935 | ||||||
AstraZeneca PLC | 1,731 | 118,875 | ||||||
Auto Trader Group PLC (d) | 68 | 334 | ||||||
Aviva PLC | 1,344 | 9,350 | ||||||
Babcock International Group PLC | 48 | 450 | ||||||
BAE Systems PLC | 4,343 | 35,421 | ||||||
Barclays PLC | 12,669 | 36,699 | ||||||
Barratt Developments PLC | 208 | 1,548 | ||||||
Berkeley Group Holdings PLC | 168 | 8,930 | ||||||
BP PLC | 7,786 | 52,345 | ||||||
British American Tobacco PLC ADR | 591 | 34,095 | ||||||
British Land Co. PLC REIT | 334 | 3,008 | ||||||
BT Group PLC | 12,797 | 40,840 | ||||||
Bunzl PLC | 346 | 10,169 | ||||||
Burberry Group PLC | 507 | 12,062 | ||||||
Capita PLC | 1,049 | 2,120 | ||||||
Carnival PLC | 104 | 6,682 | ||||||
Centrica PLC | 266 | 531 | ||||||
CNH Industrial NV | 374 | 4,613 | ||||||
Cobham PLC (b) | 837 | 1,443 | ||||||
Coca-Cola European Partners PLC | 259 | 10,790 | ||||||
Compass Group PLC | 3,558 | 72,646 | ||||||
ConvaTec Group PLC (d) | 5,896 | 16,467 | ||||||
Croda International PLC | 152 | 9,740 | ||||||
Diageo PLC | 2,619 | 88,615 | ||||||
Direct Line Insurance Group PLC | 885 | 4,734 | ||||||
easyJet PLC | 61 | 1,373 | ||||||
Experian PLC | 1,029 | 22,194 | ||||||
Fiat Chrysler Automobiles NV | 1,631 | 33,101 | ||||||
G4S PLC | 555 | 1,932 | ||||||
GKN PLC | 2,744 | 17,822 | ||||||
GlaxoSmithKline PLC | 2,185 | 42,728 | ||||||
Hargreaves Lansdown PLC | 291 | 6,666 | ||||||
HSBC Holdings PLC | 8,824 | 82,365 | ||||||
IMI PLC | 4 | 61 | ||||||
Imperial Brands PLC | 1,029 | 35,019 | ||||||
International Consolidated Airlines Group SA | 639 | 5,517 | ||||||
Intertek Group PLC | 220 | 14,382 | ||||||
ITV PLC | 4,263 | 8,620 | ||||||
J Sainsbury PLC | 683 | 2,288 | ||||||
Johnson Matthey PLC | 204 | 8,705 | ||||||
Kingfisher PLC | 5,790 | 23,757 | ||||||
Land Securities Group PLC REIT | 236 | 3,102 | ||||||
Legal & General Group PLC | 7,196 | 26,024 |
64
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Liberty Global PLC Class A (b) | 124 | $ | 3,882 | |||||
Liberty Global PLC Series C (b) | 180 | 5,477 | ||||||
Lloyds Banking Group PLC | 10,387 | 9,422 | ||||||
London Stock Exchange Group PLC | 200 | 11,576 | ||||||
Marks & Spencer Group PLC | 1,897 | 7,190 | ||||||
Merlin Entertainments PLC (d) | 1,599 | 7,775 | ||||||
Micro Focus International PLC ADR | 197 | 2,766 | ||||||
National Grid PLC | 2,410 | 27,120 | ||||||
Next PLC | 306 | 20,428 | ||||||
Old Mutual PLC | 1,424 | 4,780 | ||||||
Pearson PLC | 212 | 2,228 | ||||||
Pentair PLC | 56 | 3,815 | ||||||
Persimmon PLC | 386 | 13,699 | ||||||
Prudential PLC | 491 | 12,250 | ||||||
Randgold Resources, Ltd. | 442 | 36,471 | ||||||
Reckitt Benckiser Group PLC | 930 | 78,720 | ||||||
RELX NV | 1,360 | 28,150 | ||||||
RELX PLC | 1,528 | 31,402 | ||||||
Rio Tinto PLC | 1,517 | 76,844 | ||||||
Rio Tinto, Ltd. | 318 | 17,733 | ||||||
Rolls-Royce Holdings PLC (b) | 911 | 11,139 | ||||||
Royal Bank of Scotland Group PLC (b) | 3,046 | 11,058 | ||||||
Royal Mail PLC | 3,090 | 23,442 | ||||||
RSA Insurance Group PLC | 559 | 4,940 | ||||||
Sage Group PLC | 1,192 | 10,688 | ||||||
Schroders PLC | 120 | 5,373 | ||||||
Shire PLC | 116 | 5,810 | ||||||
Sky PLC | 1,332 | 24,244 | ||||||
Smith & Nephew PLC | 877 | 16,375 | ||||||
Smiths Group PLC | 442 | 9,384 | ||||||
SSE PLC | 68 | 1,217 | ||||||
St James’s Place PLC | 515 | 7,849 | ||||||
Standard Chartered PLC | 2,728 | 27,274 | ||||||
Standard Life Aberdeen PLC | 1,383 | 6,978 | ||||||
Taylor Wimpey PLC | 3,449 | 8,931 | ||||||
TechnipFMC PLC | 8 | 233 | ||||||
Tesco PLC | 6,794 | 19,624 | ||||||
Travis Perkins PLC | 156 | 2,700 | ||||||
Unilever NV | 1,889 | 106,565 | ||||||
Unilever PLC | 1,456 | 80,790 | ||||||
Vodafone Group PLC | 14,031 | 38,228 | ||||||
Weir Group PLC | 4 | 112 | ||||||
Whitbread PLC | 164 | 8,512 | ||||||
Wm Morrison Supermarkets PLC | 1,368 | 4,097 | ||||||
WPP PLC | 303 | 4,814 | ||||||
|
| |||||||
1,809,442 | ||||||||
|
| |||||||
UNITED STATES — 60.4% | ||||||||
3M Co. | 861 | 189,007 | ||||||
Abbott Laboratories | 994 | 59,560 | ||||||
AbbVie, Inc. | 208 | 19,687 | ||||||
Accenture PLC Class A | 1,228 | 188,498 | ||||||
Activision Blizzard, Inc. | 196 | 13,222 | ||||||
Adobe Systems, Inc. (b) | 68 | 14,693 | ||||||
Advance Auto Parts, Inc. | 76 | 9,010 | ||||||
AES Corp. | 295 | 3,354 | ||||||
Aetna, Inc. | 306 | 51,714 |
Security Description | Shares | Value | ||||||
Aflac, Inc. | 748 | $ | 32,732 | |||||
AGCO Corp. | 76 | 4,929 | ||||||
Agilent Technologies, Inc. | 72 | 4,817 | ||||||
AGNC Investment Corp. REIT | 1,779 | 33,659 | ||||||
Air Products & Chemicals, Inc. | 102 | 16,221 | ||||||
Albemarle Corp. (a) | 84 | 7,790 | ||||||
Align Technology, Inc. (b) | 100 | 25,113 | ||||||
Alleghany Corp. | 76 | 46,697 | ||||||
Allergan PLC | 32 | 5,385 | ||||||
Allstate Corp. | 750 | 71,100 | ||||||
Ally Financial, Inc. | 386 | 10,480 | ||||||
Alphabet, Inc. Class A (b) | 283 | 293,511 | ||||||
Alphabet, Inc. Class C (b) | 299 | 308,505 | ||||||
Altria Group, Inc. | 3,770 | 234,946 | ||||||
Amazon.com, Inc. (b) | 20 | 28,947 | ||||||
Ameren Corp. | 108 | 6,116 | ||||||
American Electric Power Co., Inc. | 144 | 9,877 | ||||||
American Express Co. | 160 | 14,925 | ||||||
American International Group, Inc. | 379 | 20,625 | ||||||
American Tower Corp. REIT | 75 | 10,901 | ||||||
American Water Works Co., Inc. | 196 | 16,097 | ||||||
Ameriprise Financial, Inc. | 40 | 5,918 | ||||||
AmerisourceBergen Corp. | 68 | 5,862 | ||||||
Amgen, Inc. | 873 | 148,829 | ||||||
Amphenol Corp. Class A | 687 | 59,171 | ||||||
Anadarko Petroleum Corp. | 76 | 4,591 | ||||||
Analog Devices, Inc. | 141 | 12,849 | ||||||
Andeavor | 84 | 8,447 | ||||||
Annaly Capital Management, Inc. REIT | 5,380 | 56,113 | ||||||
ANSYS, Inc. (b) | 298 | 46,694 | ||||||
Anthem, Inc. | 120 | 26,364 | ||||||
Aon PLC | 241 | 33,820 | ||||||
Apache Corp. (a) | 160 | 6,157 | ||||||
Apple, Inc. | 3,872 | 649,644 | ||||||
Applied Materials, Inc. | 1,203 | 66,899 | ||||||
Aptiv PLC | 426 | 36,197 | ||||||
Arch Capital Group, Ltd. (b) | 793 | 67,873 | ||||||
Archer-Daniels-Midland Co. | 283 | 12,274 | ||||||
Arconic, Inc. | 112 | 2,580 | ||||||
Arrow Electronics, Inc. (b) | 76 | 5,854 | ||||||
Assurant, Inc. | 64 | 5,850 | ||||||
AT&T, Inc. | 4,025 | 143,491 | ||||||
Athene Holding, Ltd. Class A (b) | 394 | 18,837 | ||||||
Automatic Data Processing, Inc. | 1,019 | 115,636 | ||||||
AutoZone, Inc. (b) | 44 | 28,542 | ||||||
AvalonBay Communities, Inc. REIT | 303 | 49,831 | ||||||
Avnet, Inc. | 96 | 4,009 | ||||||
Axis Capital Holdings, Ltd. | 483 | 27,806 | ||||||
Baker Hughes a GE Co. | 108 | 2,999 | ||||||
Ball Corp. | 32 | 1,271 | ||||||
Bank of America Corp. | 3,854 | 115,581 | ||||||
Bank of New York Mellon Corp. | 382 | 19,684 | ||||||
Baxter International, Inc. | 797 | 51,837 | ||||||
BB&T Corp. | 232 | 12,073 | ||||||
Becton Dickinson and Co. | 565 | 122,436 | ||||||
Berkshire Hathaway, Inc. Class B (b) | 841 | 167,763 |
65
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Best Buy Co., Inc. | 378 | $ | 26,456 | |||||
Biogen, Inc. (b) | 322 | 88,170 | ||||||
BlackRock, Inc. | 24 | 13,001 | ||||||
Boeing Co. | 81 | 26,558 | ||||||
Booking Holdings, Inc. (b) | 52 | 108,180 | ||||||
BorgWarner, Inc. | 68 | 3,416 | ||||||
Boston Scientific Corp. (b) | 306 | 8,360 | ||||||
Brighthouse Financial, Inc. (b) | 32 | 1,645 | ||||||
Bristol-Myers Squibb Co. | 2,134 | 134,976 | ||||||
Brixmor Property Group, Inc. REIT | 295 | 4,499 | ||||||
Broadridge Financial Solutions, Inc. | 664 | 72,834 | ||||||
Brown-Forman Corp. Class B | 328 | 17,843 | ||||||
Bunge, Ltd. | 92 | 6,802 | ||||||
C.H. Robinson Worldwide, Inc. | 575 | 53,883 | ||||||
CA, Inc. | 342 | 11,594 | ||||||
Camden Property Trust REIT | 72 | 6,061 | ||||||
Campbell Soup Co. (a) | 603 | 26,116 | ||||||
Capital One Financial Corp. | 236 | 22,614 | ||||||
Cardinal Health, Inc. | 346 | 21,687 | ||||||
CarMax, Inc. (a) (b) | 96 | 5,946 | ||||||
Carnival Corp. | 100 | 6,558 | ||||||
Caterpillar, Inc. | 172 | 25,349 | ||||||
Cboe Global Markets, Inc. | 133 | 15,175 | ||||||
CBS Corp. Class B | 432 | 22,200 | ||||||
CDK Global, Inc. | 216 | 13,681 | ||||||
Celanese Corp. Series A | 68 | 6,814 | ||||||
CenterPoint Energy, Inc. | 188 | 5,151 | ||||||
CenturyLink, Inc. | 208 | 3,417 | ||||||
Cerner Corp. (b) | 398 | 23,084 | ||||||
CF Industries Holdings, Inc. | 299 | 11,281 | ||||||
Charles Schwab Corp. | 156 | 8,146 | ||||||
Charter Communications, Inc. Class A (b) | 164 | 51,040 | ||||||
Chevron Corp. | 603 | 68,766 | ||||||
Chipotle Mexican Grill, Inc. (a) (b) | 52 | 16,802 | ||||||
Chubb, Ltd. | 495 | 67,701 | ||||||
Church & Dwight Co., Inc. | 1,563 | 78,713 | ||||||
Cigna Corp. | 68 | 11,406 | ||||||
Cimarex Energy Co. | 32 | 2,992 | ||||||
Cincinnati Financial Corp. | 398 | 29,555 | ||||||
Cintas Corp. | 132 | 22,517 | ||||||
Cisco Systems, Inc. | 1,889 | 81,019 | ||||||
CIT Group, Inc. | 100 | 5,150 | ||||||
Citigroup, Inc. | 1,364 | 92,070 | ||||||
Citizens Financial Group, Inc. | 271 | 11,377 | ||||||
Citrix Systems, Inc. (b) | 148 | 13,734 | ||||||
Clorox Co. | 611 | 81,330 | ||||||
CME Group, Inc. | 96 | 15,527 | ||||||
Coca-Cola Co. | 2,549 | 110,703 | ||||||
Cognizant Technology Solutions Corp. Class A | 88 | 7,084 | ||||||
Colgate-Palmolive Co. | 411 | 29,460 | ||||||
Comcast Corp. Class A | 2,093 | 71,518 | ||||||
Comerica, Inc. | 92 | 8,826 | ||||||
Conagra Brands, Inc. | 128 | 4,721 | ||||||
ConocoPhillips | 362 | 21,463 | ||||||
Consolidated Edison, Inc. | 1,504 | 117,222 | ||||||
Constellation Brands, Inc. Class A | 100 | 22,792 |
Security Description | Shares | Value | ||||||
Corning, Inc. | 370 | $ | 10,316 | |||||
Costco Wholesale Corp. | 633 | 119,276 | ||||||
Crown Castle International Corp. REIT | 475 | 52,065 | ||||||
CSX Corp. | 208 | 11,588 | ||||||
Cummins, Inc. | 172 | 27,879 | ||||||
CVS Health Corp. | 585 | 36,393 | ||||||
Danaher Corp. | 303 | 29,667 | ||||||
Darden Restaurants, Inc. | 88 | 7,502 | ||||||
DaVita, Inc. (b) | 60 | 3,956 | ||||||
Deere & Co. | 108 | 16,775 | ||||||
Dell Technologies, Inc. Class V (b) | 487 | 35,653 | ||||||
Delta Air Lines, Inc. | 108 | 5,919 | ||||||
Devon Energy Corp. | 100 | 3,179 | ||||||
Discover Financial Services | 132 | 9,495 | ||||||
Discovery Communications, Inc. Class C (b) | 88 | 1,718 | ||||||
DISH Network Corp. Class A (b) | 72 | 2,728 | ||||||
Dollar General Corp. | 338 | 31,620 | ||||||
Dollar Tree, Inc. (b) | 216 | 20,498 | ||||||
Dominion Energy, Inc. | 989 | 66,688 | ||||||
Dover Corp. | 48 | 4,715 | ||||||
DowDuPont, Inc. | 346 | 22,044 | ||||||
Dr. Pepper Snapple Group, Inc. | 591 | 69,963 | ||||||
DTE Energy Co. | 64 | 6,682 | ||||||
Duke Energy Corp. | 985 | 76,308 | ||||||
DXC Technology Co. | 92 | 9,249 | ||||||
Eastman Chemical Co. | 160 | 16,893 | ||||||
Eaton Corp. PLC | 96 | 7,671 | ||||||
Eaton Vance Corp. | 128 | 7,126 | ||||||
eBay, Inc. (b) | 575 | 23,138 | ||||||
Edison International | 96 | 6,111 | ||||||
Edwards Lifesciences Corp. (b) | 216 | 30,136 | ||||||
Eli Lilly & Co. | 821 | 63,521 | ||||||
Emerson Electric Co. | 106 | 7,240 | ||||||
Entergy Corp. | 72 | 5,672 | ||||||
EOG Resources, Inc. | 84 | 8,843 | ||||||
EQT Corp. | 52 | 2,471 | ||||||
Equity Residential REIT | 467 | 28,777 | ||||||
Estee Lauder Cos., Inc. Class A | 240 | 35,933 | ||||||
Everest Re Group, Ltd. | 232 | 59,582 | ||||||
Eversource Energy | 291 | 17,146 | ||||||
Exelon Corp. | 303 | 11,820 | ||||||
Expeditors International of Washington, Inc. | 985 | 62,351 | ||||||
Express Scripts Holding Co. (b) | 263 | 18,168 | ||||||
Exxon Mobil Corp. | 2,369 | 176,751 | ||||||
F5 Networks, Inc. (b) | 172 | 24,873 | ||||||
Facebook, Inc. Class A (b) | 242 | 38,669 | ||||||
Fastenal Co. (a) | 295 | 16,104 | ||||||
Federal Realty Investment Trust REIT | 24 | 2,787 | ||||||
FedEx Corp. | 68 | 16,327 | ||||||
Fidelity National Information Services, Inc. | 434 | 41,794 | ||||||
Fifth Third Bancorp | 342 | 10,859 | ||||||
FirstEnergy Corp. | 180 | 6,122 | ||||||
Fiserv, Inc. (b) | 1,198 | 85,429 |
66
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
FleetCor Technologies, Inc. (b) | 60 | $ | 12,150 | |||||
Flex, Ltd. (b) | 414 | 6,761 | ||||||
Flowserve Corp. | 140 | 6,066 | ||||||
Fluor Corp. | 172 | 9,842 | ||||||
FNF Group | 574 | 22,971 | ||||||
Ford Motor Co. | 2,117 | 23,456 | ||||||
Fortive Corp. | 434 | 33,644 | ||||||
Franklin Resources, Inc. | 406 | 14,080 | ||||||
Freeport-McMoRan, Inc. (b) | 719 | 12,633 | ||||||
Gap, Inc. | 314 | 9,797 | ||||||
Gartner, Inc. (b) | 200 | 23,524 | ||||||
General Dynamics Corp. | 416 | 91,894 | ||||||
General Electric Co. | 2,057 | 27,728 | ||||||
General Mills, Inc. | 1,723 | 77,638 | ||||||
General Motors Co. | 1,001 | 36,376 | ||||||
Genuine Parts Co. | 267 | 23,987 | ||||||
Gilead Sciences, Inc. | 1,767 | 133,214 | ||||||
Goldman Sachs Group, Inc. | 168 | 42,312 | ||||||
Halliburton Co. | 144 | 6,759 | ||||||
Harris Corp. | 241 | 38,868 | ||||||
Hartford Financial Services Group, Inc. | 160 | 8,243 | ||||||
Hasbro, Inc. | 100 | 8,430 | ||||||
HCA Healthcare, Inc. | 84 | 8,148 | ||||||
HCP, Inc. REIT | 104 | 2,416 | ||||||
Henry Schein, Inc. (a) (b) | 592 | 39,788 | ||||||
Hershey Co. | 208 | 20,584 | ||||||
Hess Corp. | 120 | 6,074 | ||||||
Hewlett Packard Enterprise Co. | 1,076 | 18,873 | ||||||
HollyFrontier Corp. | 88 | 4,300 | ||||||
Home Depot, Inc. | 366 | 65,236 | ||||||
Honeywell International, Inc. | 809 | 116,909 | ||||||
Hormel Foods Corp. (a) | 483 | 16,577 | ||||||
Host Hotels & Resorts, Inc. REIT | 196 | 3,653 | ||||||
HP, Inc. | 1,909 | 41,845 | ||||||
Humana, Inc. | 52 | 13,979 | ||||||
Huntington Ingalls Industries, Inc. | 100 | 25,776 | ||||||
Illinois Tool Works, Inc. | 467 | 73,160 | ||||||
Ingersoll-Rand PLC | 72 | 6,157 | ||||||
Intel Corp. | 5,746 | 299,252 | ||||||
Intercontinental Exchange, Inc. | 120 | 8,702 | ||||||
International Business Machines Corp. | 1,367 | 209,739 | ||||||
International Flavors & Fragrances, Inc. | 76 | 10,405 | ||||||
International Paper Co. | 128 | 6,839 | ||||||
Interpublic Group of Cos., Inc. | 398 | 9,166 | ||||||
Intuit, Inc. | 420 | 72,807 | ||||||
Intuitive Surgical, Inc. (b) | 311 | 128,390 | ||||||
Invesco, Ltd. | 116 | 3,713 | ||||||
J.M. Smucker Co. | 196 | 24,306 | ||||||
Jack Henry & Associates, Inc. | 498 | 60,233 | ||||||
Jacobs Engineering Group, Inc. | 76 | 4,495 | ||||||
JB Hunt Transport Services, Inc. | 271 | 31,748 | ||||||
Johnson & Johnson | 4,251 | 544,766 | ||||||
Johnson Controls International PLC | 358 | 12,616 | ||||||
JPMorgan Chase & Co. | 1,345 | 147,910 | ||||||
Juniper Networks, Inc. | 164 | 3,990 |
Security Description | Shares | Value | ||||||
Kellogg Co. (a) | 945 | $ | 61,434 | |||||
KeyCorp | 330 | 6,452 | ||||||
Kimberly-Clark Corp. | 864 | 95,152 | ||||||
Kinder Morgan, Inc. | 503 | 7,575 | ||||||
KLA-Tencor Corp. | 68 | 7,413 | ||||||
Kohl’s Corp. | 88 | 5,765 | ||||||
Kraft Heinz Co. | 362 | 22,549 | ||||||
Kroger Co. | 446 | 10,677 | ||||||
L Brands, Inc. | 144 | 5,502 | ||||||
L3 Technologies, Inc. | 169 | 35,152 | ||||||
Laboratory Corp. of America Holdings (b) | 263 | 42,540 | ||||||
Las Vegas Sands Corp. | 487 | 35,015 | ||||||
Lear Corp. | 100 | 18,609 | ||||||
Leucadia National Corp. | 160 | 3,637 | ||||||
Liberty Broadband Corp. Class C (b) | 200 | 17,138 | ||||||
Liberty Interactive Corp. QVC Group Class A (b) | 160 | 4,027 | ||||||
Liberty Media Corp.-Liberty SiriusXM Class A (b) | 132 | 5,425 | ||||||
Liberty Media Corp.-Liberty SiriusXM Class C (b) | 263 | 10,744 | ||||||
Lincoln National Corp. | 88 | 6,429 | ||||||
Lockheed Martin Corp. | 366 | 123,682 | ||||||
Loews Corp. | 108 | 5,371 | ||||||
Lowe’s Cos., Inc. | 1,180 | 103,545 | ||||||
Lululemon Athletica, Inc. (b) | 116 | 10,338 | ||||||
LyondellBasell Industries NV Class A | 579 | 61,189 | ||||||
M&T Bank Corp. | 68 | 12,536 | ||||||
ManpowerGroup, Inc. | 52 | 5,985 | ||||||
Marathon Oil Corp. | 639 | 10,307 | ||||||
Marathon Petroleum Corp. | 467 | 34,142 | ||||||
Markel Corp. (b) | 73 | 85,428 | ||||||
Marriott International, Inc. Class A | 40 | 5,439 | ||||||
Marsh & McLennan Cos., Inc. | 1,017 | 83,994 | ||||||
Mastercard, Inc. Class A | 1,333 | 233,488 | ||||||
Maxim Integrated Products, Inc. | 299 | 18,006 | ||||||
McCormick & Co., Inc. | 679 | 72,239 | ||||||
McDonald’s Corp. | 853 | 133,392 | ||||||
McKesson Corp. | 314 | 44,233 | ||||||
Medtronic PLC | 669 | 53,667 | ||||||
Merck & Co., Inc. | 1,371 | 74,678 | ||||||
MetLife, Inc. | 358 | 16,429 | ||||||
Mettler-Toledo International, Inc. (b) | 36 | 20,701 | ||||||
MGM Resorts International | 164 | 5,743 | ||||||
Michael Kors Holdings, Ltd. (b) | 271 | 16,824 | ||||||
Micron Technology, Inc. (b) | 355 | 18,510 | ||||||
Microsoft Corp. | 6,845 | 624,743 | ||||||
Molson Coors Brewing Co. Class B | 64 | 4,821 | ||||||
Mondelez International, Inc. Class A | 434 | 18,111 | ||||||
Monsanto Co. | 790 | 92,185 | ||||||
Monster Beverage Corp. (b) | 438 | 25,058 | ||||||
Morgan Stanley | 419 | 22,609 | ||||||
Mosaic Co. | 96 | 2,331 | ||||||
Motorola Solutions, Inc. | 415 | 43,700 |
67
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Mylan NV (b) | 88 | $ | 3,623 | |||||
National Oilwell Varco, Inc. | 499 | 18,368 | ||||||
NetApp, Inc. | 116 | 7,156 | ||||||
New York Community Bancorp, Inc. | 291 | 3,792 | ||||||
Newell Brands, Inc. | 267 | 6,803 | ||||||
Newmont Mining Corp. | 1,265 | 49,424 | ||||||
News Corp. Class A | 251 | 3,966 | ||||||
NextEra Energy, Inc. | 338 | 55,206 | ||||||
NIKE, Inc. Class B | 1,767 | 117,400 | ||||||
Noble Energy, Inc. | 60 | 1,818 | ||||||
Nordstrom, Inc. | 156 | 7,552 | ||||||
Norfolk Southern Corp. | 60 | 8,147 | ||||||
Northern Trust Corp. | 72 | 7,425 | ||||||
Northrop Grumman Corp. | 672 | 234,609 | ||||||
Nucor Corp. | 84 | 5,132 | ||||||
NVIDIA Corp. | 764 | 176,935 | ||||||
Occidental Petroleum Corp. | 603 | 39,171 | ||||||
Omnicom Group, Inc. | 259 | 18,822 | ||||||
ONEOK, Inc. | 64 | 3,643 | ||||||
Oracle Corp. | 817 | 37,378 | ||||||
O’Reilly Automotive, Inc. (b) | 251 | 62,092 | ||||||
PACCAR, Inc. | 72 | 4,764 | ||||||
Parker-Hannifin Corp. | 36 | 6,157 | ||||||
Paychex, Inc. | 1,579 | 97,251 | ||||||
PayPal Holdings, Inc. (b) | 120 | 9,104 | ||||||
People’s United Financial, Inc. | 121 | 2,258 | ||||||
PepsiCo, Inc. | 1,106 | 120,720 | ||||||
Pfizer, Inc. | 2,974 | 105,547 | ||||||
PG&E Corp. | 467 | 20,515 | ||||||
Philip Morris International, Inc. | 251 | 24,949 | ||||||
Phillips 66 | 318 | 30,503 | ||||||
Pioneer Natural Resources Co. | 20 | 3,436 | ||||||
Plains GP Holdings L.P. Class A (b) | 148 | 3,219 | ||||||
PNC Financial Services Group, Inc. | 216 | 32,668 | ||||||
Polaris Industries, Inc. (a) | 76 | 8,704 | ||||||
PPG Industries, Inc. | 48 | 5,357 | ||||||
PPL Corp. | 176 | 4,979 | ||||||
Principal Financial Group, Inc. | 88 | 5,360 | ||||||
Procter & Gamble Co. | 3,916 | 310,461 | ||||||
Progressive Corp. | 599 | 36,497 | ||||||
Prologis, Inc. REIT | 108 | 6,803 | ||||||
Prudential Financial, Inc. | 140 | 14,497 | ||||||
Public Service Enterprise Group, Inc. | 144 | 7,235 | ||||||
Public Storage REIT | 410 | 82,160 | ||||||
PulteGroup, Inc. | 216 | 6,370 | ||||||
QUALCOMM, Inc. | 366 | 20,280 | ||||||
Quest Diagnostics, Inc. | 72 | 7,222 | ||||||
Ralph Lauren Corp. | 60 | 6,708 | ||||||
Raytheon Co. | 772 | 166,613 | ||||||
Realty Income Corp. REIT | 398 | 20,589 | ||||||
Red Hat, Inc. (b) | 200 | 29,902 | ||||||
Regeneron Pharmaceuticals, Inc. (b) | 100 | 34,436 | ||||||
Regions Financial Corp. | 539 | 10,015 | ||||||
Republic Services, Inc. | 1,340 | 88,748 | ||||||
ResMed, Inc. | 136 | 13,392 | ||||||
Robert Half International, Inc. | 152 | 8,799 | ||||||
Rockwell Automation, Inc. | 148 | 25,782 |
Security Description | Shares | Value | ||||||
Rockwell Collins, Inc. | 152 | $ | 20,497 | |||||
Ross Stores, Inc. | 777 | 60,590 | ||||||
Royal Caribbean Cruises, Ltd. | 76 | 8,948 | ||||||
SBA Communications Corp. REIT (b) | 64 | 10,939 | ||||||
SCANA Corp. | 120 | 4,506 | ||||||
Schlumberger, Ltd. | 442 | 28,633 | ||||||
Seagate Technology PLC | 96 | 5,618 | ||||||
SEI Investments Co. | 156 | 11,686 | ||||||
Sempra Energy | 88 | 9,787 | ||||||
Sherwin-Williams Co. | 84 | 32,938 | ||||||
Simon Property Group, Inc. REIT | 28 | 4,322 | ||||||
Skyworks Solutions, Inc. | 164 | 16,443 | ||||||
Southern Co. | 1,891 | 84,452 | ||||||
Southwest Airlines Co. | 24 | 1,375 | ||||||
Stanley Black & Decker, Inc. | 48 | 7,354 | ||||||
Starbucks Corp. | 2,572 | 148,893 | ||||||
State Street Corp. (e) | 144 | 14,361 | ||||||
Stericycle, Inc. (b) | 20 | 1,171 | ||||||
Stryker Corp. | 383 | 61,632 | ||||||
SunTrust Banks, Inc. | 212 | 14,424 | ||||||
Symantec Corp. | 184 | 4,756 | ||||||
Synchrony Financial | 128 | 4,292 | ||||||
Synopsys, Inc. (b) | 471 | 39,206 | ||||||
Sysco Corp. | 549 | 32,918 | ||||||
T Rowe Price Group, Inc. | 267 | 28,828 | ||||||
Tapestry, Inc. | 382 | 20,097 | ||||||
Target Corp. | 257 | 17,844 | ||||||
TD Ameritrade Holding Corp. | 244 | 14,452 | ||||||
Texas Instruments, Inc. | 1,477 | 153,446 | ||||||
Textron, Inc. | 112 | 6,605 | ||||||
Thermo Fisher Scientific, Inc. | 52 | 10,736 | ||||||
Tiffany & Co. | 116 | 11,329 | ||||||
Time Warner, Inc. | 442 | 41,804 | ||||||
TJX Cos., Inc. | 1,779 | 145,095 | ||||||
Tractor Supply Co. | 156 | 9,831 | ||||||
Travelers Cos., Inc. | 495 | 68,736 | ||||||
TripAdvisor, Inc. (a)(b) | 112 | 4,580 | ||||||
Twenty-First Century Fox, Inc. Class A | 259 | 9,503 | ||||||
Twenty-First Century Fox, Inc. Class B | 515 | 18,731 | ||||||
Tyson Foods, Inc. Class A | 112 | 8,197 | ||||||
UDR, Inc. REIT | 793 | 28,247 | ||||||
Ulta Salon Cosmetics & Fragrance, Inc. (b) | 60 | 12,256 | ||||||
Under Armour, Inc. Class A (a) (b) | 136 | 2,224 | ||||||
Under Armour, Inc. Class C (a) (b) | 136 | 1,952 | ||||||
Union Pacific Corp. | 909 | 122,197 | ||||||
United Parcel Service, Inc. Class B | 543 | 56,830 | ||||||
United Technologies Corp. | 156 | 19,628 | ||||||
UnitedHealth Group, Inc. | 563 | 120,482 | ||||||
Universal Health Services, Inc. Class B | 48 | 5,684 | ||||||
Unum Group | 120 | 5,713 | ||||||
US Bancorp | 750 | 37,875 | ||||||
Valero Energy Corp. | 322 | 29,872 | ||||||
Varian Medical Systems, Inc. (b) | 375 | 45,994 |
68
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Ventas, Inc. REIT | 41 | $ | 2,031 | |||||
VeriSign, Inc. (a) (b) | 100 | 11,856 | ||||||
Verisk Analytics, Inc. (b) | 200 | 20,800 | ||||||
Verizon Communications, Inc. | 3,255 | 155,654 | ||||||
VF Corp. | 395 | 29,277 | ||||||
Visa, Inc. Class A | 2,620 | 313,404 | ||||||
VMware, Inc. Class A (a) (b) | 398 | 48,265 | ||||||
Voya Financial, Inc. | 112 | 5,656 | ||||||
W.W. Grainger, Inc. | 64 | 18,065 | ||||||
Wabtec Corp. (a) | 88 | 7,163 | ||||||
Walmart, Inc. | 2,600 | 231,322 | ||||||
Walgreens Boots Alliance, Inc. | 176 | 11,523 | ||||||
Walt Disney Co. | 1,917 | 192,544 | ||||||
Waste Management, Inc. | 1,308 | 110,029 | ||||||
Waters Corp. (b) | 84 | 16,687 | ||||||
WEC Energy Group, Inc. | 769 | 48,216 | ||||||
Wells Fargo & Co. | 1,911 | 100,156 | ||||||
Welltower, Inc. REIT | 205 | 11,158 | ||||||
Western Digital Corp. | 60 | 5,536 | ||||||
Western Union Co. | 667 | 12,826 | ||||||
WestRock Co. | 88 | 5,647 | ||||||
Weyerhaeuser Co. REIT | 136 | 4,760 | ||||||
Whirlpool Corp. | 28 | 4,287 | ||||||
Williams Cos., Inc. | 88 | 2,188 | ||||||
Willis Towers Watson PLC | 48 | 7,305 | ||||||
Worldpay, Inc. Class A (b) | 200 | 16,448 | ||||||
WR Berkley Corp. | 551 | 40,058 | ||||||
Xcel Energy, Inc. | 1,344 | 61,125 | ||||||
Xerox Corp. | 121 | 3,482 | ||||||
Xilinx, Inc. | 228 | 16,471 | ||||||
Yum! Brands, Inc. | 112 | 9,535 | ||||||
Zimmer Biomet Holdings, Inc. | 40 | 4,362 | ||||||
Zoetis, Inc. | 32 | 2,672 | ||||||
|
| |||||||
17,922,138 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 29,544,439 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 1.3% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (f) (g) | 14,591 | 14,591 |
Security Description | Shares | Value | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (f) (h) | 376,622 | $ | 376,622 | |||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 391,213 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 100.9% | 29,935,652 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.9)% | (259,700 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 29,675,952 | ||||||
|
|
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Non-income producing security. |
(c) | Amount is less than 0.05% of net assets. |
(d) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.3% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(e) | The Fund invested in an affiliated entity, State Street Corp. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(f) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(g) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(h) | Investment of cash collateral for securities loaned. |
ADR | =American Depositary Receipt | |
REIT | =Real Estate Investment Trust |
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Argentina | $ | 17,820 | $ | — | $ | — | $ | 17,820 | ||||||||||||
Australia | 395,510 | — | — | 395,510 | ||||||||||||||||
Austria | 18,573 | — | — | 18,573 | ||||||||||||||||
Belgium | 87,712 | — | — | 87,712 | ||||||||||||||||
Bermuda | 33,242 | — | — | 33,242 |
69
Table of Contents
SPDR MSCI WORLD STRATEGICFACTORSSM ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
Canada | $ | 899,625 | $ | — | $ | — | $ | 899,625 | ||||||||||||
Chile | 1,912 | — | — | 1,912 | ||||||||||||||||
Denmark | 364,823 | — | — | 364,823 | ||||||||||||||||
Finland | 91,519 | — | — | 91,519 | ||||||||||||||||
France | 694,052 | — | — | 694,052 | ||||||||||||||||
Germany | 744,961 | — | — | 744,961 | ||||||||||||||||
Hong Kong | 570,787 | — | — | 570,787 | ||||||||||||||||
Ireland | 106,917 | — | — | 106,917 | ||||||||||||||||
Israel | 122,176 | — | — | 122,176 | ||||||||||||||||
Italy | 199,866 | — | — | 199,866 | ||||||||||||||||
Japan | 3,020,452 | — | — | 3,020,452 | ||||||||||||||||
Luxembourg | 27,510 | — | — | 27,510 | ||||||||||||||||
Mexico | 285 | — | — | 285 | ||||||||||||||||
Netherlands | 292,846 | — | — | 292,846 | ||||||||||||||||
New Zealand | 34,449 | — | — | 34,449 | ||||||||||||||||
Norway | 37,453 | — | — | 37,453 | ||||||||||||||||
Portugal | 13,180 | — | — | 13,180 | ||||||||||||||||
Singapore | 212,968 | — | — | 212,968 | ||||||||||||||||
South Africa | 13,785 | — | — | 13,785 | ||||||||||||||||
Spain | 260,280 | — | — | 260,280 | ||||||||||||||||
Sweden | 231,120 | — | — | 231,120 | ||||||||||||||||
Switzerland | 1,319,036 | — | — | 1,319,036 | ||||||||||||||||
United Kingdom | 1,809,442 | — | — | 1,809,442 | ||||||||||||||||
United States | 17,922,138 | — | — | 17,922,138 | ||||||||||||||||
Short-Term Investments | 391,213 | — | — | 391,213 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 29,935,652 | $ | — | $ | — | $ | 29,935,652 | ||||||||||||
|
|
|
|
|
|
|
|
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Corp. | 108 | $ | 10,318 | $ | 3,650 | $ | — | $ | — | $ | 393 | 367,874,930 | $ | 14,361 | $ | 106 | $ | — | ||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 4,411,701 | 4,411,701 | 565,543 | 4,962,653 | — | — | 14,591 | 14,591 | 252 | — | ||||||||||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 24,983 | 24,983 | 1,427,994 | 1,076,355 | — | — | 376,622 | 376,622 | 792 | — | ||||||||||||||||||||||||||||||||||||||||
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| |||||||||||||||||||||||||||||||||||
Total | $4,447,002 | $1,997,187 | $ | 6,039,008 | $ | — | $ | 393 | $ | 405,574 | $ | 1,150 | $ | — | ||||||||||||||||||||||||||||||||||||
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70
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.3% | ||||||||
BRAZIL — 8.5% | ||||||||
Ambev SA ADR | 1,647,853 | $ | 11,979,891 | |||||
Anima Holding SA | 8,470 | 64,501 | ||||||
B2W Cia Digital (a) | 25,448 | 196,319 | ||||||
B3 SA - Brasil Bolsa Balcao | 647,263 | 5,197,812 | ||||||
Banco Bradesco SA Preference Shares ADR | 1,405,188 | 16,693,633 | ||||||
Banco Bradesco SA | 25,200 | 291,685 | ||||||
Banco do Brasil SA | 304,999 | 3,765,227 | ||||||
Banco Pan SA Preference Shares (a) | 115,297 | 66,259 | ||||||
Banco Pan SA (a) | 13,746 | 7,900 | ||||||
Banco Santander Brasil SA | 5,972 | 71,712 | ||||||
BB Seguridade Participacoes SA | 202,325 | 1,781,819 | ||||||
BR Malls Participacoes SA | 376,423 | 1,319,451 | ||||||
Bradespar SA Preference Shares | 168,499 | 1,596,472 | ||||||
Brasil Brokers Participacoes SA (a) | 35,315 | 5,313 | ||||||
Braskem SA Preference Shares ADR | 65,191 | 1,889,887 | ||||||
BRF SA ADR (a) (b) | 185,473 | 1,283,473 | ||||||
CCR SA | 181,755 | 683,577 | ||||||
Centrais Eletricas Brasileiras SA ADR (a) (b) | 208,798 | 1,325,867 | ||||||
Cia Brasileira de Distribuicao ADR (b) | 82,430 | 1,665,086 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo | 265,309 | 2,793,903 | ||||||
Cia Energetica de Minas Gerais ADR (b) | 465,756 | 1,201,650 | ||||||
Cia Energetica de Sao Paulo Class B, Preference Shares | 16,303 | 77,503 | ||||||
Cia Hering | 13,774 | 85,538 | ||||||
Cia Siderurgica Nacional SA ADR (a) (b) | 533,872 | 1,404,083 | ||||||
Cielo SA | 376,026 | 2,340,829 | ||||||
Construtora Tenda SA (a) | 730 | 5,788 | ||||||
Cosan Logistica SA (a) | 14,759 | 44,629 | ||||||
Cosan SA Industria e Comercio | 66,587 | 831,636 | ||||||
Cyrela Brazil Realty SA Empreendimentos e Participacoes | 187,665 | 863,340 | ||||||
Duratex SA | 143,386 | 511,230 | ||||||
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA | 9,260 | 49,760 | ||||||
Embraer SA | 286,647 | 1,858,600 | ||||||
Engie Brasil Energia SA | 23,842 | 280,916 | ||||||
Estacio Participacoes SA | 80,677 | 848,861 | ||||||
Eternit SA (a) | 37,424 | 9,571 | ||||||
Fibria Celulose SA ADR | 102,699 | 2,002,631 | ||||||
Gafisa SA (a) | 2,958 | 9,078 | ||||||
Gerdau SA ADR (b) | 397,579 | 1,852,718 | ||||||
Hypera SA | 16,503 | 179,549 | ||||||
Itau Unibanco Holding SA Preference Shares ADR | 1,268,749 | 19,792,484 | ||||||
Itausa - Investimentos Itau SA Preference Shares | 1,707,925 | 7,086,378 | ||||||
Itausa - Investimentos Itau SA | 157,928 | 665,240 |
Security Description | Shares | Value | ||||||
Itausa - Investimentos Itau SA (a) | 3,518 | $ | 14,819 | |||||
Itausa - Investimentos Itau SA (a) | 38,048 | 157,866 | ||||||
JBS SA | 132,414 | 372,509 | ||||||
Kepler Weber SA (a) | 5,535 | 20,184 | ||||||
Klabin SA | 54,529 | 339,617 | ||||||
Kroton Educacional SA | 399,965 | 1,636,636 | ||||||
Log-in Logistica Intermodal SA (a) | 4,554 | 4,714 | ||||||
Lojas Americanas SA Preference Shares | 329,949 | 1,870,333 | ||||||
Lojas Renner SA | 545,696 | 5,639,866 | ||||||
Magnesita Refratarios SA | 17,519 | 306,778 | ||||||
Marcopolo SA Preference Shares | 128,598 | 150,900 | ||||||
Metalurgica Gerdau SA Preference Shares | 529,543 | 1,137,603 | ||||||
Mills Estruturas e Servicos de Engenharia SA (a) | 20,498 | 19,982 | ||||||
MMX Mineracao e Metalicos SA (a) | 6,509 | 5,621 | ||||||
MRV Engenharia e Participacoes SA | 31,303 | 153,049 | ||||||
Natura Cosmeticos SA | 102,615 | 987,989 | ||||||
Oi SA ADR (a) | 893 | 5,296 | ||||||
PDG Realty SA Empreendimentos e Participacoes (a) | 5,472 | 2,634 | ||||||
Petroleo Brasileiro SA Preference Shares ADR (a) | 798,594 | 10,373,736 | ||||||
Petroleo Brasileiro SA ADR (a) | 355,706 | 5,029,683 | ||||||
Profarma Distribuidora de Produtos Farmaceuticos SA (a) | 9,317 | 16,848 | ||||||
Prumo Logistica SA (a) | 336 | 1,152 | ||||||
Qualicorp SA | 28,806 | 193,103 | ||||||
Raia Drogasil SA | 22,171 | 498,974 | ||||||
Restoque Comercio e Confeccoes de Roupas SA (a) | 4,662 | 43,904 | ||||||
Rodobens Negocios Imobiliarios SA (a) | 24,618 | 45,850 | ||||||
Rossi Residencial SA (a) | 38,339 | 75,441 | ||||||
Rumo SA (a) | 20,962 | 82,937 | ||||||
Suzano Papel e Celulose SA | 27,424 | 275,263 | ||||||
T4F Entretenimento SA | 50,065 | 159,673 | ||||||
Telefonica Brasil SA ADR | 73,780 | 1,133,261 | ||||||
Telefonica Brasil SA Preference Shares | 240,613 | 3,648,723 | ||||||
Tim Participacoes SA ADR | 82,670 | 1,791,459 | ||||||
TOTVS SA | 19,522 | 169,223 | ||||||
Ultrapar Participacoes SA | 97,984 | 2,090,813 | ||||||
Usinas Siderurgicas de Minas Gerais SA ADR (a) (b) | 286,276 | 930,397 | ||||||
Vale SA ADR (b) | 693,490 | 8,821,193 | ||||||
WEG SA | 433,061 | 2,946,055 | ||||||
|
| |||||||
145,835,883 | ||||||||
|
|
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SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
CHILE — 1.8% | ||||||||
AntarChile SA | 117,260 | $ | 2,148,726 | |||||
Empresas COPEC SA | 274,679 | 4,314,385 | ||||||
Empresas Iansa SA | 1,897,298 | 56,583 | ||||||
Enel Americas SA ADR | 256,803 | 2,984,051 | ||||||
Enel Chile SA ADR | 235,950 | 1,510,080 | ||||||
Enel Generacion Chile SA ADR | 61,396 | 1,460,611 | ||||||
Enjoy SA (a) | 1,133,963 | 113,253 | ||||||
Latam Airlines Group SA ADR (b) | 182,596 | 2,810,152 | ||||||
Multiexport Foods SA | 1,191,589 | 552,790 | ||||||
Parque Arauco SA | 1,850,520 | 5,578,249 | ||||||
SACI Falabella | 683,937 | 6,598,743 | ||||||
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares | 8,101 | 394,564 | ||||||
Vina Concha y Toro SA ADR (b) | 40,346 | 1,714,705 | ||||||
|
| |||||||
30,236,892 | ||||||||
|
| |||||||
CHINA — 31.5% | ||||||||
21Vianet Group, Inc. ADR (a) | 4,792 | 33,209 | ||||||
3SBio, Inc. (a) (b) (c) | 218,000 | 491,092 | ||||||
500.com, Ltd. Class A, ADR (a) (b) | 2,656 | 45,577 | ||||||
58.com, Inc. ADR (a) | 6,244 | 498,646 | ||||||
AAC Technologies Holdings, Inc. | 406,492 | 7,333,979 | ||||||
Agile Group Holdings, Ltd. | 1,642,999 | 3,395,569 | ||||||
Agricultural Bank of China, Ltd. Class H | 7,966,000 | 4,526,886 | ||||||
Air China, Ltd. Class H | 903,744 | 1,151,516 | ||||||
Alibaba Group Holding, Ltd. ADR (a) (b) | 349,873 | 64,215,690 | ||||||
Aluminum Corp. of China, Ltd. Class H (a) (b) | 2,508,000 | 1,390,085 | ||||||
Angang Steel Co., Ltd. Class H (b) | 734,640 | 702,037 | ||||||
Anhui Conch Cement Co., Ltd. Class H | 847,135 | 4,614,378 | ||||||
Anhui Expressway Co., Ltd. Class H | 8,000 | 6,116 | ||||||
ANTA Sports Products, Ltd. | 365,000 | 1,841,673 | ||||||
Anton Oilfield Services Group (a) (b) | 130,000 | 16,067 | ||||||
Autohome, Inc. ADR | 10,109 | 868,767 | ||||||
AVIC International Holding HK, Ltd. (a) (b) | 1,414,527 | 59,477 | ||||||
AVIC International Holdings, Ltd. Class H (b) | 730,000 | 497,624 | ||||||
AviChina Industry & Technology Co., Ltd. Class H (b) | 816,000 | 574,963 | ||||||
BAIC Motor Corp., Ltd. Class H (c) | 6,500 | 7,967 | ||||||
Baidu, Inc. ADR (a) | 91,225 | 20,360,508 | ||||||
BAIOO Family Interactive, Ltd. (c) | 894,000 | 53,538 | ||||||
Bank of China, Ltd. Class H | 23,004,900 | 12,369,644 |
Security Description | Shares | Value | ||||||
Bank of Communications Co., Ltd. Class H | 6,573,864 | $ | 5,151,340 | |||||
BBMG Corp. Class H (b) | 366,000 | 165,085 | ||||||
Beijing Capital International Airport Co., Ltd. Class H | 1,620,000 | 2,175,605 | ||||||
Beijing Capital Land, Ltd. Class H | 28,000 | 17,053 | ||||||
Beijing Enterprises Clean Energy Group, Ltd. (a) | 7,554,856 | 245,466 | ||||||
Beijing Enterprises Holdings, Ltd. | 213,500 | 1,115,337 | ||||||
Beijing Enterprises Water Group, Ltd. | 1,644,000 | 917,488 | ||||||
Beijing Jingneng Clean Energy Co., Ltd. Class H | 136,000 | 33,098 | ||||||
Bitauto Holdings, Ltd. ADR (a) (b) | 6,120 | 129,438 | ||||||
BOE Technology Group Co., Ltd. Class B | 243,000 | 137,781 | ||||||
Boer Power Holdings, Ltd. (a) | 7,000 | 1,391 | ||||||
Boyaa Interactive International, Ltd. (a) | 64,000 | 24,790 | ||||||
Brilliance China Automotive Holdings, Ltd. | 902,000 | 1,882,543 | ||||||
Byd Co., Ltd. Class H (b) | 215,000 | 1,676,541 | ||||||
BYD Electronic International Co., Ltd. (b) | 213,500 | 400,433 | ||||||
C.banner International Holdings, Ltd. (a) | 12,000 | 3,930 | ||||||
Cabbeen Fashion, Ltd. | 376,000 | 104,920 | ||||||
CAR, Inc. (a) | 367,000 | 330,138 | ||||||
CGN Meiya Power Holdings Co., Ltd. (a) (c) | 24,000 | 3,242 | ||||||
CGN Mining Co., Ltd. | 325,000 | 20,705 | ||||||
CGN PowerCo.,Ltd.Class H (b) (c) | 3,062,000 | 792,001 | ||||||
Changyou.com, Ltd. ADR (a) | 2,136 | 59,573 | ||||||
Chanjet Information Technology Co., Ltd. Class H (a) | 2,600 | 4,923 | ||||||
Chaowei Power Holdings, Ltd. (b) | 75,000 | 40,518 | ||||||
Cheetah Mobile, Inc. ADR (a) (b) | 3,464 | 46,314 | ||||||
China Aerospace International Holdings, Ltd. | 740,000 | 80,145 | ||||||
China Agri-Industries Holdings, Ltd. | 436,000 | 191,659 | ||||||
China Aircraft Leasing Group Holdings, Ltd. | 6,500 | 6,849 | ||||||
China Aoyuan Property Group, Ltd. (b) | 374,000 | 343,583 | ||||||
China Biologic Products Holdings, Inc. (a) (b) | 5,119 | 414,639 | ||||||
China Chengtong Development Group, Ltd. (a) (b) | 1,640,000 | 79,406 | ||||||
China Child Care Corp., Ltd. (a) | 443,000 | 9,031 | ||||||
China Cinda Asset Management Co., Ltd. Class H | 3,708,000 | 1,346,508 |
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SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
China CITIC Bank Corp., Ltd. Class H | 3,525,000 | $ | 2,407,400 | |||||
China Coal Energy Co., Ltd. Class H | 2,220,000 | 888,192 | ||||||
China Communications Construction Co., Ltd. Class H | 1,701,241 | 1,747,130 | ||||||
China Communications Services Corp., Ltd. Class H | 152,000 | 90,832 | ||||||
China Conch Venture Holdings, Ltd. | 450,700 | 1,375,363 | ||||||
China Construction Bank Corp. Class H | 30,770,280 | 31,600,277 | ||||||
China Datang Corp. Renewable Power Co., Ltd. Class H | 510,000 | 68,881 | ||||||
China Distance Education Holdings, Ltd. ADR | 3,984 | 32,549 | ||||||
China Dongxiang Group Co., Ltd. | 370,000 | 64,587 | ||||||
China Eastern Airlines Corp., Ltd. Class H | 144,000 | 104,583 | ||||||
China Electronics Corp. Holdings Co., Ltd. | 134,000 | 19,635 | ||||||
China Energine International Holdings, Ltd. (a) | 864,000 | 37,980 | ||||||
China Everbright International, Ltd. | 874,000 | 1,224,979 | ||||||
China Everbright, Ltd. | 24,000 | 50,273 | ||||||
China Evergrande Group (a) (b) | 1,321,000 | 4,157,423 | ||||||
China Fangda Group Co., Ltd. Class B | 641,500 | 404,600 | ||||||
China Financial Services Holdings, Ltd. | 758,000 | �� | 63,744 | |||||
China Foods, Ltd. | 16,000 | 7,360 | ||||||
China Galaxy Securities Co., Ltd. Class H | 889,900 | 591,883 | ||||||
China Hanking Holdings, Ltd. | 379,000 | 50,705 | ||||||
China Harmony New Energy Auto Holding, Ltd. (a) (b) | 7,000 | 4,486 | ||||||
China Hongqiao Group, Ltd. (b) | 24,500 | 26,753 | ||||||
China Huarong Energy Co., Ltd. (a) | 128,400 | 3,926 | ||||||
China Huishan Dairy Holdings Co., | 310,600 | — | ||||||
China Huiyuan Juice Group, Ltd. (a) | 188,500 | 48,516 | ||||||
China International Marine Containers Group Co., Ltd. Class H | 51,700 | 80,630 | ||||||
China Lesso Group Holdings, Ltd. | 365,000 | 277,646 | ||||||
China Life Insurance Co., Ltd. Class H | 2,369,260 | 6,520,650 | ||||||
China Lodging Group, Ltd. ADR | 6,120 | 806,065 | ||||||
China Longyuan Power Group Corp., Ltd. Class H | 817,000 | 626,676 | ||||||
China Machinery Engineering Corp. Class H | 14,000 | 7,421 |
Security Description | Shares | Value | ||||||
China Medical System Holdings, Ltd. | 451,000 | $ | 1,024,021 | |||||
China Mengniu Dairy Co., Ltd. | 1,320,620 | 4,526,417 | ||||||
China Merchants Bank Co., Ltd. Class H | 1,559,923 | 6,390,113 | ||||||
China Merchants China Direct Investments, Ltd. | 4,000 | 6,636 | ||||||
China Merchants Port Holdings Co., Ltd. | 761,281 | 1,678,091 | ||||||
China Minsheng Banking Corp., Ltd. Class H (b) | 1,933,900 | 1,880,109 | ||||||
China Mobile, Ltd. | 1,773,366 | 16,257,493 | ||||||
China Modern Dairy Holdings, Ltd. (a) (b) | 6,000 | 1,024 | ||||||
China Molybdenum Co., Ltd. Class H | 222,000 | 167,455 | ||||||
China National Accord Medicines Corp., Ltd. Class B | 7,100 | 32,568 | ||||||
China National Building Material Co., Ltd. Class H (b) | 732,000 | 794,649 | ||||||
China National Materials Co., Ltd. Class H | 374,000 | 341,200 | ||||||
China Oilfield Services, Ltd. Class H | 897,723 | 925,370 | ||||||
China Overseas Grand Oceans Group, Ltd. | 109,500 | 53,018 | ||||||
China Overseas Land & Investment, Ltd. | 1,779,200 | 6,177,542 | ||||||
China Overseas Property Holdings, Ltd. (b) | 62,066 | 19,375 | ||||||
China Pacific Insurance Group Co., Ltd. Class H | 787,200 | 3,525,614 | ||||||
China Petroleum & Chemical Corp. Class H | 8,859,200 | 7,777,466 | ||||||
China Power Clean Energy Development Co., Ltd. | 34,246 | 18,632 | ||||||
China Power International Development, Ltd. | 2,220,000 | 571,385 | ||||||
China Railway Construction Corp., Ltd. Class H | 854,990 | 856,265 | ||||||
China Railway Group, Ltd. Class H | 1,787,487 | 1,238,985 | ||||||
China Rare Earth Holdings, Ltd. (a) | 745,200 | 44,152 | ||||||
China Resources Beer Holdings Co., Ltd. | 754,625 | 3,269,147 | ||||||
China Resources Gas Group, Ltd. | 44,000 | 152,772 | ||||||
China Resources Land, Ltd. | 914,222 | 3,325,693 | ||||||
China Resources Power Holdings Co., Ltd. | 894,432 | 1,631,980 | ||||||
China Sanjiang Fine Chemicals Co., Ltd. | 73,000 | 29,857 | ||||||
China Shenhua Energy Co., Ltd. Class H | 1,547,056 | 3,843,838 | ||||||
China Singyes Solar Technologies Holdings, Ltd. (b) | 9,600 | 3,511 |
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SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
China South City Holdings, Ltd. (b) | 742,000 | $ | 167,341 | |||||
China Southern Airlines Co., Ltd. Class H | 732,000 | 755,476 | ||||||
China State Construction International Holdings, Ltd. | 159,250 | 194,388 | ||||||
China Taiping Insurance Holdings Co., Ltd. | 354,435 | 1,171,921 | ||||||
China Telecom Corp., Ltd. Class H | 6,069,615 | 2,675,849 | ||||||
China Travel International Investment Hong Kong, Ltd. | 2,518,000 | 891,918 | ||||||
China Unicom Hong Kong, Ltd. (a) | 1,781,668 | 2,247,431 | ||||||
China Vanke Co., Ltd. Class H | 347,500 | 1,585,120 | ||||||
China Yurun Food Group, Ltd. (a) | 12,000 | 1,605 | ||||||
China ZhengTong Auto Services Holdings, Ltd. (b) | 38,000 | 27,598 | ||||||
ChinaCache International Holdings, Ltd. ADR (a) | 6,120 | 6,548 | ||||||
Chinasoft International, Ltd. (a) (b) | 142,000 | 127,375 | ||||||
Chlitina Holding, Ltd. | 2,000 | 13,410 | ||||||
Chong Sing Holdings FinTech Gr (a) (b) | 1,681,618 | 220,693 | ||||||
Chongqing Changan Automobile Co., Ltd. Class B | 344,000 | 344,075 | ||||||
Chongqing Machinery & Electric Co., Ltd. Class H | 138,000 | 13,539 | ||||||
CIFI Holdings Group Co., Ltd. | 26,000 | 22,693 | ||||||
CIMC Enric Holdings, Ltd. (a) | 10,000 | 9,582 | ||||||
CITIC Resources Holdings, Ltd. (b) | 738,000 | 82,749 | ||||||
CITIC Securities Co., Ltd. Class H | 476,000 | 1,089,275 | ||||||
CITIC Telecom International Holdings, Ltd. | 368,000 | 106,438 | ||||||
CITIC, Ltd. | 2,143,000 | 2,998,119 | ||||||
CNOOC, Ltd. | 5,807,603 | 8,554,195 | ||||||
Cogobuy Group (b) (c) | 64,000 | 32,455 | ||||||
Colour Life Services Group Co., Ltd. | 69,000 | 64,795 | ||||||
Comtec Solar Systems Group, Ltd. (a) | 872,000 | 25,221 | ||||||
Coolpad Group, Ltd. (a) (d) | 253,600 | 11,633 | ||||||
COSCO SHIPPING Development Co., Ltd. Class H (a) (b) | 2,658,117 | 494,483 | ||||||
COSCO SHIPPING Energy Transportation Co., Ltd. Class H | 872,000 | 448,872 | ||||||
COSCO SHIPPING Holdings Co., Ltd. | 1,334,925 | 661,654 | ||||||
COSCO SHIPPING Ports, Ltd. . | 898,086 | 755,242 | ||||||
Cosmo Lady China Holdings Co., Ltd. (c) | 71,000 | 38,448 | ||||||
Country Garden Holdings Co., Ltd. | 1,829,466 | 3,766,952 |
Security Description | Shares | Value | ||||||
CRRC Corp., Ltd. Class H | 1,325,000 | $ | 1,129,448 | |||||
CSG Holding Co., Ltd. Class B | 28,300 | 16,226 | ||||||
Ctrip.com International, Ltd. ADR (a) | 108,040 | 5,036,825 | ||||||
Daqo New Energy Corp. ADR (a) | 3,984 | 195,017 | ||||||
Datang International Power Generation Co., Ltd. Class H (a) | 2,664,000 | 797,676 | ||||||
Dazhong Transportation Group Co., Ltd. Class B | 479,150 | 294,198 | ||||||
Dongfang Electric Corp., Ltd. Class H (a) | 88,800 | 69,132 | ||||||
Dongfeng Motor Group Co., Ltd. Class H | 1,772,000 | 2,056,868 | ||||||
E-Commodities Holdings, Ltd. | 6,500 | 613 | ||||||
Fang Holdings, Ltd. ADR (a) (b) | 55,912 | 287,388 | ||||||
Fanhua, Inc. ADR (b) | 12,765 | 344,910 | ||||||
Fantasia Holdings Group Co., Ltd. | 549,000 | 106,326 | ||||||
Far East Horizon, Ltd. | 809,000 | 855,561 | ||||||
Fufeng Group, Ltd. | �� | 71,000 | 42,066 | |||||
Future Land Holdings Co., Ltd. Class A | 59,871 | 332,864 | ||||||
Geely Automobile Holdings, Ltd. | 612,000 | 1,762,318 | ||||||
GF Securities Co., Ltd. Class H | 530,000 | 973,791 | ||||||
Global Bio-Chem Technology Group Co., Ltd. (a) | 914,000 | 11,413 | ||||||
Goldpac Group, Ltd. | 64,000 | 19,408 | ||||||
GOME Retail Holdings, Ltd. (b) | 3,479,000 | 376,789 | ||||||
Goodbaby International Holdings, Ltd. | 67,000 | 45,758 | ||||||
Grand Baoxin Auto Group, Ltd. (a) | 3,158 | 1,324 | ||||||
Great Wall Motor Co., Ltd. Class H (b) | 1,097,250 | 1,100,284 | ||||||
Greatview Aseptic Packaging Co., Ltd. | 10,000 | 6,728 | ||||||
Greentown China Holdings, Ltd. (b) | 216,500 | 292,959 | ||||||
Guangdong Electric Power Development Co., Ltd. Class B | 653,340 | 257,230 | ||||||
Guangdong Investment, Ltd. | 1,778,000 | 2,795,576 | ||||||
Guangshen Railway Co., Ltd. Class H (b) | 1,776,000 | 1,049,990 | ||||||
Guangzhou Automobile Group Co., Ltd. Class H | 908,636 | 1,674,105 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class H | 6,000 | 18,501 | ||||||
Guangzhou R&F Properties Co., Ltd. Class H | 856,800 | 2,137,551 | ||||||
Guodian Technology & Environment Group Corp., Ltd. Class H (a) | 73,000 | 4,651 | ||||||
Guotai Junan International Holdings, Ltd. (b) | 512,000 | 147,436 |
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SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Haichang Ocean Park Holdings, Ltd. (a) (c) | 374,000 | $ | 95,307 | |||||
Haitian International Holdings, Ltd. | 5,000 | 15,163 | ||||||
Haitong Securities Co., Ltd. Class H | 856,800 | 1,133,186 | ||||||
Hangzhou Steam Turbine Co., Ltd. Class B (a) | 126,900 | 122,077 | ||||||
Harbin Electric Co., Ltd. Class H | 732,000 | 256,489 | ||||||
Health and Happiness H&H International Holdings, Ltd. (a) | 5,000 | 38,066 | ||||||
Hengan International Group Co., Ltd. | 224,000 | 2,074,946 | ||||||
HNA Infrastructure Co., Ltd. Class H | 65,000 | 69,569 | ||||||
Honghua Group, Ltd. (a) | 14,000 | 1,463 | ||||||
Honworld Group, Ltd. (b) (c) | 35,000 | 15,876 | ||||||
Hopson Development Holdings, Ltd. | 26,000 | 29,683 | ||||||
Hua Hong Semiconductor, Ltd. (c) | 7,000 | 13,860 | ||||||
Huadian Fuxin Energy Corp., Ltd. Class H | 128,000 | 32,782 | ||||||
Huadian Power International Corp., Ltd. Class H | 1,021,308 | 392,996 | ||||||
Huaneng Power International, Inc. Class H | 1,776,000 | 1,192,554 | ||||||
Huaneng Renewables Corp., Ltd. Class H | 884,000 | 330,023 | ||||||
Huangshan Tourism Development Co., Ltd. Class B | 309,332 | 389,758 | ||||||
Huatai Securities Co., Ltd. Class H (c) | 250,200 | 481,381 | ||||||
Industrial & Commercial Bank of China, Ltd. Class H | 24,794,590 | 21,261,622 | ||||||
Inner Mongolia Yitai Coal Co., Ltd. Class B | 172,436 | 230,202 | ||||||
JA Solar Holdings Co., Ltd. ADR (a) (b) | 7,451 | 48,879 | ||||||
JD.com, Inc. ADR (a) | 271,935 | 11,010,648 | ||||||
Jiangnan Group, Ltd. | 134,000 | 8,281 | ||||||
Jiangsu Expressway Co., Ltd. Class H | 1,022,000 | 1,445,434 | ||||||
Jiangxi Copper Co., Ltd. Class H | 446,000 | 636,469 | ||||||
JinkoSolar Holding Co., Ltd. ADR (a) (b) | 4,792 | 87,454 | ||||||
Joy City Property, Ltd. | 908,000 | 145,774 | ||||||
Jumei International Holding, Ltd. ADR (a) (b) | 2,656 | 7,702 | ||||||
Kama Co., Ltd. Class B (a) | 30,600 | 24,021 | ||||||
Kingdee International Software Group Co., Ltd. (a) (b) | 746,000 | 750,914 | ||||||
Kingsoft Corp., Ltd. | 75,000 | 237,950 | ||||||
Konka Group Co., Ltd. Class B (a) | 4,761,600 | 1,989,991 |
Security Description | Shares | Value | ||||||
Kunlun Energy Co., Ltd. | 2,508,000 | $ | 2,163,419 | |||||
KWG Property Holding, Ltd. | 455,168 | 620,554 | ||||||
Lao Feng Xiang Co., Ltd. Class B | 48,530 | 175,921 | ||||||
Lenovo Group, Ltd. (b) | 3,396,000 | 1,735,148 | ||||||
Li Ning Co., Ltd. (a) | 660,333 | 676,462 | ||||||
Lianhua Supermarket Holdings Co., Ltd. Class H (a) | 13,000 | 3,959 | ||||||
Lifetech Scientific Corp. (a) (b) | 730,000 | 212,071 | ||||||
Link Motion, Inc. ADR (a) (b) | 12,253 | 20,340 | ||||||
Livzon Pharmaceutical Group, Inc. Class H | 40,666 | 327,471 | ||||||
Luye Pharma Group, Ltd. (b) | 218,000 | 208,603 | ||||||
Maanshan Iron & Steel Co., Ltd. Class H (a) | 1,620,000 | 693,552 | ||||||
Metallurgical Corp. of China, Ltd. Class H | 446,000 | 127,294 | ||||||
Minth Group, Ltd. | 34,000 | 154,874 | ||||||
MOBI Development Co., Ltd. | 516,000 | 69,034 | ||||||
Momo, Inc. ADR (a) | 5,312 | 198,563 | ||||||
National Agricultural Holdings, Ltd. (a) (b) (d) | 72,000 | 5,459 | ||||||
NetEase, Inc. ADR | 31,298 | 8,775,646 | ||||||
New China Life Insurance Co., Ltd. Class H | 220,100 | 1,025,019 | ||||||
New Oriental Education & Technology Group, Inc. ADR | 37,457 | 3,283,106 | ||||||
Noah Holdings, Ltd. ADS (a) | 3,984 | 188,085 | ||||||
Ourgame International Holdings, Ltd. (a) (b) | 65,000 | 17,144 | ||||||
Ozner Water International Holding, | 371,000 | 99,270 | ||||||
Pacific Online, Ltd. | 64,000 | 9,133 | ||||||
Parkson Retail Group, Ltd. (a) | 626,634 | 72,657 | ||||||
People’s Insurance Co. Group of China, Ltd. Class H | 1,705,000 | 797,287 | ||||||
PetroChina Co., Ltd. Class H | 7,028,970 | 4,827,306 | ||||||
PICC Property & Casualty Co., Ltd. Class H | 2,515,506 | 4,403,890 | ||||||
Ping An Insurance Group Co. of China, Ltd. Class H | 1,551,000 | 15,770,269 | ||||||
Poly Culture Group Corp., Ltd. Class H (b) | 7,200 | 12,770 | ||||||
Poly Property Group Co., Ltd. (a) | 378,000 | 185,910 | ||||||
PW Medtech Group, Ltd. (a) | 68,000 | 11,177 | ||||||
ReneSola, Ltd. ADR (a) (b) | 11,108 | 28,325 | ||||||
Renhe Commercial Holdings Co., Ltd. (a) (b) | 5,165,000 | 100,690 | ||||||
Semiconductor Manufacturing International Corp. (a) (b) | 858,400 | 1,122,177 | ||||||
Shandong Airlines Co., Ltd. Class B | 5,800 | 10,915 | ||||||
Shandong Chenming Paper Holdings, Ltd. Class B | 83,400 | 138,145 | ||||||
Shandong Weigao Group Medical Polymer Co., Ltd. Class H | 272,000 | 181,257 |
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SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Shanghai Baosight Software Co., Ltd. Class B | 28,300 | $ | 50,912 | |||||
Shanghai Electric Group Co., Ltd. | 1,794,077 | 621,777 | ||||||
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H | 33,500 | 205,739 | ||||||
Shanghai Fudan Microelectronics Group Co., Ltd. Class H (a) | 16,000 | 13,394 | ||||||
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. Class H | 8,000 | 3,823 | ||||||
Shanghai Greencourt Investment Group Co., Ltd. Class B (a) | 216,848 | 119,266 | ||||||
Shanghai Huayi Group Corp., Ltd. Class B | 200 | 185 | ||||||
Shanghai Industrial Urban Development Group, Ltd. | 26,000 | 5,930 | ||||||
Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H | 28,000 | 11,452 | ||||||
Shanghai Jinjiang International Industrial Investment Co., Ltd. Class B | 257,082 | 311,326 | ||||||
Shanghai Jinjiang International Travel Co., Ltd. Class B | 6,000 | 15,480 | ||||||
Shanghai Jinqiao Export Processing Zone Development Co., Ltd. Class B | 322,766 | 417,014 | ||||||
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B | 171,740 | 244,901 | ||||||
Shanghai Pharmaceuticals Holding Co., Ltd. Class H | 88,900 | 237,873 | ||||||
Shanghai Prime Machinery Co., Ltd. Class H | 136,000 | 24,607 | ||||||
Shengjing Bank Co., Ltd. Class H (c) | 215,300 | 160,756 | ||||||
Shenwan Hongyuan HK, Ltd. | 10,000 | 3,071 | ||||||
Shenzhen Expressway Co., Ltd. Class H | 860,482 | 876,018 | ||||||
Shenzhen International Holdings, Ltd. | 222,865 | 487,854 | ||||||
Shenzhen Investment, Ltd. (b) | 765,099 | 324,628 | ||||||
Shenzhou International Group Holdings, Ltd. | 64,000 | 673,980 | ||||||
Shougang Concord International Enterprises Co., Ltd. (a) (b) | 1,456,000 | 40,443 | ||||||
Shunfeng International Clean Energy, Ltd. (a) | 138,000 | 5,275 | ||||||
Silver Grant International Industries, Ltd. (a) | 142,000 | 29,854 | ||||||
SINA Corp. (a) | 26,365 | 2,749,079 | ||||||
Sinofert Holdings, Ltd. (a) (b) | 130,000 | 16,564 | ||||||
SinoMedia Holding, Ltd. (a) (b) | 65,000 | 17,392 | ||||||
Sino-Ocean Group Holding, Ltd. | 1,762,480 | 1,277,794 | ||||||
Sinopec Oilfield Service Corp. Class H (a) (b) | 148,000 | 22,252 | ||||||
Sinopec Shanghai Petrochemical Co., Ltd. Class H | 1,774,600 | 1,078,557 |
Security Description | Shares | Value | ||||||
Sinopharm Group Co., Ltd. Class H | 326,800 | $ | 1,636,436 | |||||
Sinosoft Technology Group, Ltd. (b) | 366,600 | 123,784 | ||||||
Sinotrans, Ltd. Class H | 2,144,300 | 1,177,571 | ||||||
Sinovac Biotech, Ltd. (a) | 36,152 | 311,269 | ||||||
SITC International Holdings Co., Ltd. | 69,000 | 68,575 | ||||||
SOHO China, Ltd. | 189,000 | 98,976 | ||||||
SPT Energy Group, Inc. (a) | 20,000 | 2,013 | ||||||
Sunac China Holdings, Ltd. (b) | 444,000 | 1,714,155 | ||||||
Sunny Optical Technology Group Co., Ltd. | 134,000 | 2,473,988 | ||||||
Synertone Communication Corp. (a) | 54,400 | 582 | ||||||
TCL Multimedia Technology Holdings, Ltd. | 52,000 | 24,250 | ||||||
Tencent Holdings, Ltd. | 1,806,167 | 94,263,217 | ||||||
Tian Ge Interactive Holdings, Ltd. (b) (c) | 70,000 | 58,955 | ||||||
Tiangong International Co., Ltd. | 138,000 | 23,913 | ||||||
Tianneng Power International, Ltd. | 130,000 | 153,880 | ||||||
Tingyi Cayman Islands Holding Corp. | 1,024,000 | 2,124,119 | ||||||
Tong Ren Tang Technologies Co., Ltd. Class H | 10,000 | 16,666 | ||||||
TravelSky Technology, Ltd. Class H | 885,841 | 2,567,802 | ||||||
Trigiant Group, Ltd. | 22,000 | 3,308 | ||||||
Uni-President China Holdings, Ltd. | 72,000 | 62,291 | ||||||
Universal Health International Group Holding, Ltd. (a) | 69,000 | 1,372 | ||||||
Universal Medical Financial & Technical Advisory Services Co., Ltd. (b) (c) | 225,600 | 196,616 | ||||||
V1 Group, Ltd. (a) | 1,630,200 | 45,697 | ||||||
Vipshop Holdings, Ltd. ADR (a) | 92,277 | 1,533,644 | ||||||
Want Want China Holdings, Ltd. (b) | 2,588,000 | 2,074,146 | ||||||
Weibo Corp. ADR | 2,592 | 309,848 | ||||||
West China Cement, Ltd. (a) | 750,000 | 142,388 | ||||||
Wisdom Sports Group (b) | 75,000 | 7,549 | ||||||
Xiamen International Port Co., Ltd. Class H | 26,000 | 4,737 | ||||||
Xinchen China Power Holdings, Ltd. (a) | 369,000 | 44,666 | ||||||
Xinjiang Goldwind Science & Technology Co., Ltd. Class H (b) | 16,260 | 26,063 | ||||||
Xinyi Solar Holdings, Ltd. | 882,000 | 356,248 | ||||||
Yangtze Optical Fibre and Cable Joint Stock, Ltd. Co. Class H (c) | 6,500 | 30,064 | ||||||
Yanzhou Coal Mining Co., Ltd. Class H | 1,620,000 | 2,064,141 | ||||||
Yestar Healthcare Holdings Co., Ltd. (b) | 22,500 | 7,827 |
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SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Yingli Green Energy Holding Co., Ltd. ADR (a) (b) | 6,623 | $ | 11,127 | |||||
Yuexiu Property Co., Ltd. | 3,396,000 | 800,505 | ||||||
Yuexiu Transport Infrastructure, Ltd. (b) | 1,258 | 968 | ||||||
Yum China Holdings, Inc. | 23,535 | 976,703 | ||||||
YY, Inc. ADR (a) | 7,966 | 838,023 | ||||||
Zhaojin Mining Industry Co., Ltd. Class H (b) | 36,500 | 28,695 | ||||||
Zhejiang Expressway Co., Ltd. Class H | 1,643,862 | 1,677,731 | ||||||
Zhuzhou CRRC Times Electric Co., Ltd. Class H | 217,800 | 1,054,547 | ||||||
Zijin Mining Group Co., Ltd. Class H (b) | 2,577,000 | 1,152,513 | ||||||
ZTE Corp. Class H (a) (b) | 445,327 | 1,449,754 | ||||||
|
| |||||||
541,621,967 | ||||||||
|
| |||||||
COLOMBIA — 0.5% | ||||||||
Almacenes Exito SA | 46,509 | 274,415 | ||||||
Avianca Holdings SA Preference Shares | 697,012 | 746,148 | ||||||
Banco Davivienda SA Preference Shares | 78,382 | 845,249 | ||||||
Banco de Bogota SA | 24,305 | 591,026 | ||||||
Bancolombia SA ADR | 26,348 | 1,107,143 | ||||||
Bancolombia SA | 72,786 | 787,510 | ||||||
Bolsa de Valores de Colombia | 44,768,079 | 363,838 | ||||||
Celsia SA ESP | 40,616 | 65,655 | ||||||
Cementos Argos SA | 49,162 | 170,556 | ||||||
Cementos Argos SA Preference Shares | 58,901 | 177,772 | ||||||
Cemex Latam Holdings SA (a) | 14,728 | 46,930 | ||||||
Constructora Conconcreto SA | 108,336 | 37,507 | ||||||
Corp. Financiera Colombiana SA | 24,369 | 207,648 | ||||||
Ecopetrol SA | 700,843 | 656,154 | ||||||
Empresa de Telecomunicaciones de Bogota (a) | 1,292,876 | 185,153 | ||||||
Grupo Argos SA Preference Shares | 79,320 | 465,736 | ||||||
Grupo Argos SA | 18,023 | 121,440 | ||||||
Grupo Aval Acciones y Valores SA | 1,764,739 | 732,912 | ||||||
Grupo de Inversiones Suramericana SA Preference Shares | 28,752 | 366,464 | ||||||
Grupo de Inversiones Suramericana SA | 28,568 | 381,302 | ||||||
Grupo Nutresa SA | 26,192 | 243,625 | ||||||
Interconexion Electrica SA ESP | 106,183 | 506,376 | ||||||
|
| |||||||
9,080,559 | ||||||||
|
| |||||||
CZECH REPUBLIC — 0.3% | ||||||||
CEZ A/S | 95,604 | 2,380,756 | ||||||
Komercni banka A/S | 50,545 | 2,304,323 | ||||||
UNIPETROL A/S | 3,565 | 65,287 | ||||||
|
| |||||||
4,750,366 | ||||||||
|
|
Security Description | Shares | Value | ||||||
EGYPT — 0.3% | ||||||||
Commercial International Bank Egypt SAE | 908,771 | $ | 4,588,185 | |||||
Egypt Kuwait Holding Co. SAE | 355,362 | 355,362 | ||||||
Egyptian Financial Group-Hermes Holding Co. | 434,601 | 634,522 | ||||||
Global Telecom Holding SAE (a) | 462,109 | 172,210 | ||||||
Orascom Telecom Media And Technology Holding SAE | 100,088 | 4,939 | ||||||
|
| |||||||
5,755,218 | ||||||||
|
| |||||||
GREECE — 0.2% | ||||||||
Alpha Bank AE (a) | 16,742 | 35,621 | ||||||
Diana Shipping, Inc. (a) | 16,283 | 59,596 | ||||||
Ellaktor SA (a) | 354 | 682 | ||||||
Eurobank Ergasias SA (a) | 12,195 | 11,511 | ||||||
FF Group (a) | 5,237 | 102,021 | ||||||
Fourlis Holdings SA (a) | 176 | 1,221 | ||||||
Frigoglass SAIC (a) | 99 | 20 | ||||||
GEK Terna Holding Real Estate Construction SA (a) | 665 | 3,999 | ||||||
Grivalia Properties REIC AE REIT | 30,955 | 336,920 | ||||||
Hellenic Exchanges - Athens Stock Exchange SA | 58,651 | 335,413 | ||||||
Hellenic Telecommunications Organization SA | 49,016 | 661,900 | ||||||
Holding Co. ADMIE IPTO SA (a) | 5,208 | 11,273 | ||||||
Intralot SA-Integrated Lottery Systems & Services (a) | 126,041 | 178,263 | ||||||
JUMBO SA | 20,172 | 359,724 | ||||||
Marfin Investment Group Holdings SA (a) | 8,445 | 1,869 | ||||||
Mytilineos Holdings SA (a) | 181 | 1,937 | ||||||
National Bank of Greece SA (a) | 4,078 | 1,310 | ||||||
OPAP SA | 60,438 | 690,523 | ||||||
Piraeus Bank SA (a) | 49 | 155 | ||||||
Public Power Corp. SA (a) | 16,236 | 51,637 | ||||||
Terna Energy SA | 215 | 1,317 | ||||||
Titan Cement Co. SA | 9,800 | 242,858 | ||||||
|
| |||||||
3,089,770 | ||||||||
|
| |||||||
HONG KONG — 1.2% | ||||||||
AGTech Holdings, Ltd. (a) (b) | 56,000 | 6,636 | ||||||
Alibaba Pictures Group, Ltd. (a) (b) | 4,312,400 | 560,459 | ||||||
AMVIG Holdings, Ltd. | 130,000 | 35,613 | ||||||
Asian Citrus Holdings, Ltd. (a) (d) | 51,000 | 1,949 | ||||||
Bosideng International Holdings, Ltd. | 736,000 | 72,209 | ||||||
Carnival Group International Holdings, Ltd. (a) (b) | 680,000 | 31,191 | ||||||
Chia Tai Enterprises International, Ltd. (a) | 2,300 | 615 | ||||||
China All Access Holdings, Ltd. | 28,000 | 8,919 | ||||||
China Animation Characters Co., Ltd. (b) | 65,000 | 23,852 |
77
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SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
China Fiber Optic Network System Group, Ltd. (a) (d) | 88,800 | $ | — | |||||
China Financial International Investments, Ltd. (a) | 640,000 | 22,018 | ||||||
China Financial Leasing Group, Ltd. (a) | 80,000 | 1,651 | ||||||
China Gas Holdings, Ltd. | 806,000 | 2,932,011 | ||||||
China High Speed Transmission Equipment Group Co., Ltd. (b) | 319,000 | 501,568 | ||||||
China Jicheng Holdings, Ltd. (a) (b) (c) | 117,414 | 1,092 | ||||||
China National Culture Group, Ltd. (a) | 670,000 | 1,537 | ||||||
China NT Pharma Group Co., Ltd. | 852,100 | 204,114 | ||||||
China Ocean Industry Group, Ltd. (a) | 2,175,000 | 16,074 | ||||||
China Oil & Gas Group, Ltd. | 132,000 | 10,596 | ||||||
China Public Procurement, Ltd. (a) | 67,200 | 1,062 | ||||||
China Soft Power Technology Holdings, Ltd. (a) (b) | 168,000 | 2,612 | ||||||
China Vanguard You Champion Holdings, Ltd. (a) | 70,000 | 6,511 | ||||||
Citychamp Watch & Jewellery Group, Ltd. (b) | 734,000 | 157,119 | ||||||
Comba Telecom Systems Holdings, Ltd. (b) | 146,117 | 19,549 | ||||||
Concord New Energy Group, Ltd. | 120,000 | 5,428 | ||||||
CP Pokphand Co., Ltd. | 1,652,000 | 128,400 | ||||||
Digital China Holdings, Ltd. (a) (b) | 376,000 | 206,485 | ||||||
Essex Bio-technology, Ltd. | 377,000 | 377,082 | ||||||
Eternity Investment, Ltd. (a) | 40,574 | 931 | ||||||
Feiyu Technology International Co., Ltd. (a) (c) | 19,500 | 1,938 | ||||||
First Shanghai Investments, Ltd. (a) | 40,000 | 4,179 | ||||||
Fullshare Holdings, Ltd. (a) (b) | 2,134,500 | 1,183,068 | ||||||
GCL-Poly Energy Holdings, Ltd. (a) | 2,581,000 | 318,995 | ||||||
Golden Meditech Holdings, Ltd. | 44,000 | 5,046 | ||||||
Haier Electronics Group Co., Ltd. | 72,000 | 256,412 | ||||||
Hanergy Thin Film Power Group, Ltd. (a) (d) | 856,000 | — | ||||||
Hengdeli Holdings, Ltd. | 5,585,600 | 266,886 | ||||||
Hi Sun Technology China, Ltd. (a) | 225,000 | 39,849 | ||||||
Hua Han Health Industry Holdings, Ltd. (a) (b) (d) | 283,600 | 14,364 | ||||||
Huabao International Holdings, Ltd. | 344,000 | 227,922 | ||||||
Huayi Tencent Entertainment Co., Ltd. (a) (b) | 110,000 | 5,466 | ||||||
Imperial Pacific International Holdings, Ltd. (a) (b) | 8,930,000 | 111,507 |
Security Description | Shares | Value | ||||||
Ju Teng International Holdings, Ltd. | 134,500 | $ | 33,247 | |||||
Kingboard Chemical Holdings, Ltd. | 441,340 | 2,015,983 | ||||||
Kingboard Laminates Holdings, Ltd. | 225,500 | 326,974 | ||||||
Lee & Man Paper Manufacturing, Ltd. | 76,000 | 80,277 | ||||||
Life Healthcare Group, Ltd. (a) | 88,000 | 2,669 | ||||||
Millennium Pacific Group Holdings, Ltd. (a) | 190,000 | 4,745 | ||||||
Munsun Capital Group, Ltd. (a) (b) | 982,224 | 5,006 | ||||||
Neo Telemedia, Ltd. | 3,516,000 | 77,055 | ||||||
NetDragon Websoft Holdings, Ltd. (b) | 34,500 | 83,961 | ||||||
New Provenance Everlasting Holdings, Ltd. (a) (b) | 3,648,030 | 74,836 | ||||||
NewOcean Energy Holdings, Ltd. (a) (b) | 22,000 | 5,018 | ||||||
Nine Dragons Paper Holdings, Ltd. | 810,000 | 1,211,651 | ||||||
Portico International Holdings, Ltd. (a) | 37,000 | 12,682 | ||||||
Pou Sheng International Holdings, Ltd. | 456,000 | 115,622 | ||||||
Qianhai Health Holdings, Ltd. (a) | 59,221 | 596 | ||||||
Real Nutriceutical Group, Ltd. (a) | 195,000 | 5,739 | ||||||
Shimao Property Holdings, Ltd. | 666,000 | 1,883,873 | ||||||
SIM Technology Group, Ltd. | 1,622,000 | 74,401 | ||||||
Sino Biopharmaceutical, Ltd. | 1,326,000 | 2,601,888 | ||||||
Skyworth Digital Holdings, Ltd. | 733,225 | 329,789 | ||||||
Solargiga Energy Holdings, Ltd. (a) | 3,036,000 | 82,783 | ||||||
SSY Group, Ltd. | 23,740 | 20,841 | ||||||
Sun Art Retail Group, Ltd. | 408,000 | 474,630 | ||||||
Suncorp Technologies, Ltd. (a) | 4,330,000 | 11,034 | ||||||
Tech Pro Technology Development, Ltd. (a) (e) | 486,000 | 4,211 | ||||||
Tibet Water Resources, Ltd. (a) | 67,000 | 26,550 | ||||||
United Laboratories International Holdings, Ltd. (a) (b) | 12,000 | 12,431 | ||||||
Vision Values Holdings, Ltd. (a) | 90,000 | 6,651 | ||||||
Wanda Hotel Development Co., Ltd. (a) | 328,000 | 50,569 | ||||||
Wasion Group Holdings, Ltd. (b) | 24,000 | 12,232 | ||||||
WH Group, Ltd. (c) | 2,196,000 | 2,339,177 | ||||||
Xinyi Automobile Glass Hong Kong Enterprises, Ltd. (a) | 12,250 | 3,215 | ||||||
Xinyi Glass Holdings, Ltd. | 854,000 | 1,286,174 | ||||||
Yip’s Chemical Holdings, Ltd. | 10,000 | 3,695 | ||||||
|
| |||||||
21,053,120 | ||||||||
|
| |||||||
HUNGARY — 0.6% | ||||||||
MOL Hungarian Oil & Gas PLC | 256,002 | 2,795,656 | ||||||
OTP Bank PLC | 129,255 | 5,815,144 |
78
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Richter Gedeon Nyrt | 110,670 | $ | 2,312,929 | |||||
|
| |||||||
10,923,729 | ||||||||
|
| |||||||
INDIA — 11.0% | ||||||||
Adani Enterprises, Ltd. | 2,378 | 5,702 | ||||||
Adani Ports & Special Economic Zone, Ltd. | 266,678 | 1,447,841 | ||||||
Adani Power, Ltd. (a) | 3,460 | 1,257 | ||||||
Adani Transmission, Ltd. (a) | 3,300 | 9,801 | ||||||
Aditya Birla Capital, Ltd. GDR (a) | 322 | 721 | ||||||
AIA Engineering, Ltd. | 3,541 | 78,256 | ||||||
Alok Industries, Ltd. (a) | 1,263,036 | 57,127 | ||||||
Amtek Auto, Ltd. (a) | 25,377 | 8,132 | ||||||
Anant Raj, Ltd. | 369,961 | 264,332 | ||||||
Apollo Hospitals Enterprise, Ltd. | 32,995 | 538,596 | ||||||
Ashok Leyland, Ltd. | 198,542 | 442,766 | ||||||
Asian Paints, Ltd. | 28,032 | 481,543 | ||||||
Aurobindo Pharma, Ltd. | 107,700 | 921,173 | ||||||
Axis Bank, Ltd. | 421,042 | 3,295,559 | ||||||
Bajaj Finance, Ltd. | 16,654 | 451,334 | ||||||
Bajaj Hindusthan Sugar, Ltd. (a) | 532,769 | 71,883 | ||||||
Balrampur Chini Mills, Ltd. | 262,663 | 304,660 | ||||||
BF Investment, Ltd. (a) | 64,921 | 279,356 | ||||||
Bharat Financial Inclusion, Ltd. (a) | 16,812 | 282,732 | ||||||
Bharat Forge, Ltd. | 13,817 | 148,218 | ||||||
Bharat Heavy Electricals, Ltd. | 644,155 | 803,444 | ||||||
Bharat Petroleum Corp., Ltd. | 73,961 | 484,726 | ||||||
Bharti Airtel, Ltd. | 701,316 | 4,287,142 | ||||||
Bharti Infratel, Ltd. | 114,138 | 588,263 | ||||||
Biocon, Ltd. | 40,430 | 368,150 | ||||||
Bosch, Ltd. | 427 | 117,959 | ||||||
Britannia Industries, Ltd. | 27,664 | 2,108,296 | ||||||
Cipla, Ltd. | 293,156 | 2,451,668 | ||||||
Coal India, Ltd. | 216,390 | 939,922 | ||||||
CORE Education & Technologies, Ltd. (a) (d) | 9,253 | — | ||||||
DCB Bank, Ltd. | 778,123 | 1,927,361 | ||||||
Dewan Housing Finance Corp., Ltd. | 217,222 | 1,699,063 | ||||||
Dr Reddy’s Laboratories, Ltd. ADR (b) | 84,787 | 2,771,687 | ||||||
Educomp Solutions, Ltd. (a) | 29,982 | 2,069 | ||||||
Eicher Motors, Ltd. | 2,732 | 1,188,471 | ||||||
Era Infra Engineering, Ltd. (a) (d) | 2,941 | — | ||||||
Fortis Healthcare, Ltd. (a) | 153,193 | 289,725 | ||||||
GAIL India, Ltd. | 429,949 | 2,165,840 | ||||||
GAIL India, Ltd. (a) (e) | 143,316 | 721,946 | ||||||
Gammon India, Ltd. (a) | 139,302 | 9,077 | ||||||
Gateway Distriparks, Ltd. | 91,654 | 245,571 | ||||||
Gitanjali Gems, Ltd. | 3,473 | 442 | ||||||
Glenmark Pharmaceuticals, Ltd. | 24,606 | 198,556 | ||||||
Godrej Consumer Products, Ltd. | 38,164 | 639,941 | ||||||
Godrej Industries, Ltd. | 157,713 | 1,329,717 | ||||||
Grasim Industries, Ltd. GDR | 230 | 3,726 | ||||||
Grasim Industries, Ltd. | 31,377 | 505,569 |
Security Description | Shares | Value | ||||||
GRUH Finance, Ltd. | 257,707 | $ | 2,272,954 | |||||
GTL Infrastructure, Ltd. (a) | 1,523,200 | 60,721 | ||||||
GTL, Ltd. (a) | 3,458 | 604 | ||||||
Gujarat NRE Coke, Ltd. (a) (e) | 25,505 | 352 | ||||||
Gujarat Pipavav Port, Ltd. | 12,241 | 27,280 | ||||||
GVK Power & Infrastructure, Ltd. (a) | 678,690 | 146,723 | ||||||
HCL Technologies, Ltd. | 165,499 | 2,457,807 | ||||||
HDFC Bank, Ltd. | 220,439 | 6,374,719 | ||||||
Hero MotoCorp, Ltd. | 93,857 | 5,098,251 | ||||||
Hindalco Industries, Ltd. | 298,831 | 983,019 | ||||||
Hindustan Construction Co., Ltd. (a) | 71,470 | 24,327 | ||||||
Hindustan Unilever, Ltd. | 403,334 | 8,245,498 | ||||||
Housing Development & Infrastructure, Ltd. (a) | 64,845 | 38,377 | ||||||
Housing Development Finance Corp., Ltd. | 613,615 | 17,175,504 | ||||||
ICICI Bank, Ltd. ADR | 850,956 | 7,530,961 | ||||||
Idea Cellular, Ltd. (a) | 122,237 | 142,250 | ||||||
IDFC Bank, Ltd. | 27 | 20 | ||||||
IDFC, Ltd. | 18 | 13 | ||||||
Indiabulls Housing Finance, Ltd. | 49,891 | 946,428 | ||||||
Indiabulls Real Estate, Ltd. (a) | 111,378 | 309,859 | ||||||
Indian Hotels Co., Ltd. | 403,176 | 799,902 | ||||||
Indian Oil Corp., Ltd. | 198,674 | 537,947 | ||||||
IndusInd Bank, Ltd. | 28,577 | 787,249 | ||||||
Infosys, Ltd. ADR (b) | 837,144 | 14,943,020 | ||||||
IRB Infrastructure Developers, Ltd. | 21,534 | 73,627 | ||||||
ITC, Ltd. | 796,946 | 3,121,962 | ||||||
ITC, Ltd. GDR | 60,326 | 236,321 | ||||||
IVRCL, Ltd. (a) | 23,282 | 1,071 | ||||||
Jain Irrigation Systems, Ltd. | 58,977 | 96,258 | ||||||
Jaiprakash Associates, Ltd. (a) | 300,888 | 87,192 | ||||||
Jet Airways India, Ltd. (a) | 83,315 | 777,625 | ||||||
Jindal Steel & Power, Ltd. (a) | 28,269 | 94,964 | ||||||
Kotak Mahindra Bank, Ltd. | 184,708 | 2,967,372 | ||||||
Lanco Infratech, Ltd. (a) | 51,317 | 865 | ||||||
Larsen & Toubro, Ltd. GDR | 272,374 | 5,474,717 | ||||||
LIC Housing Finance, Ltd. | 92,719 | 759,702 | ||||||
Lupin, Ltd. | 56,391 | 636,219 | ||||||
Magma Fincorp, Ltd. | 42,624 | 99,009 | ||||||
Mahanagar Telephone Nigam, Ltd. (a) | 259,382 | 74,567 | ||||||
Mahindra & Mahindra Financial Services, Ltd. | 83,639 | 594,062 | ||||||
Mahindra & Mahindra, Ltd. GDR | 407,700 | 4,688,550 | ||||||
Marico, Ltd. | 43,669 | 218,306 | ||||||
Marksans Pharma, Ltd. | 46,473 | 22,552 | ||||||
Maruti Suzuki India, Ltd. | 66,707 | 9,062,895 | ||||||
Mindtree, Ltd. | 16,687 | 197,504 | ||||||
Monnet Ispat & Energy, Ltd. (a) | 13,336 | 3,077 | ||||||
MRF, Ltd. | 876 | 973,934 | ||||||
NCC, Ltd. | 100,098 | 180,408 | ||||||
NTPC, Ltd. | 589,170 | 1,532,958 | ||||||
Oil & Natural Gas Corp., Ltd. | 1,210,205 | 3,299,124 | ||||||
OnMobile Global, Ltd. | 12,965 | 8,587 |
79
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Opto Circuits India, Ltd. (a) | 7,471 | $ | 899 | |||||
Page Industries, Ltd. | 952 | 331,112 | ||||||
Paisalo Digital, Ltd. | 10,341 | 47,962 | ||||||
Power Grid Corp. of India, Ltd. | 152,889 | 453,006 | ||||||
PS IT Infrastructure & Services, Ltd. (a) | 132 | 108 | ||||||
PTC India, Ltd. | 269,773 | 361,508 | ||||||
Punj Lloyd, Ltd. (a) | 22,533 | 5,839 | ||||||
Rajesh Exports, Ltd. | 43,960 | 498,497 | ||||||
RattanIndia Infrastructure, Ltd. (a) | 169,615 | 14,433 | ||||||
REI Agro, Ltd. (a) (e) | 1,873,023 | 4,308 | ||||||
Reliance Capital, Ltd. | 36,995 | 240,104 | ||||||
Reliance Communications, Ltd. (a) | 422,235 | 140,806 | ||||||
Reliance Home Finance, Ltd. (a) | 12,479 | 11,403 | ||||||
Reliance Industries, Ltd. GDR (c) | 407,620 | 11,046,502 | ||||||
Reliance Infrastructure, Ltd. | 109,073 | 714,926 | ||||||
Rolta India, Ltd. (a) | 19,156 | 16,815 | ||||||
Ruchi Soya Industries, Ltd. (a) | 144,973 | 35,453 | ||||||
Sharda Cropchem, Ltd. | 10,351 | 60,506 | ||||||
Shree Renuka Sugars, Ltd. (a) | 365,980 | 86,134 | ||||||
Shriram Transport Finance Co., Ltd. | 38,529 | 850,428 | ||||||
Siemens, Ltd. | 99,510 | 1,636,868 | ||||||
Sintex Industries, Ltd. | 232,951 | 64,112 | ||||||
Sintex Plastics Technology, Ltd. (a) | 70,273 | 61,953 | ||||||
State Bank of India GDR | 47,464 | 1,832,110 | ||||||
Strides Shasun, Ltd. | 10,446 | 107,172 | ||||||
Sun Pharma Advanced Research Co., Ltd. (a) | 10,801 | 62,491 | ||||||
Sun Pharmaceutical Industries, Ltd. | 350,345 | 2,659,480 | ||||||
Sun TV Network, Ltd. | 32,995 | 429,298 | ||||||
Suzlon Energy, Ltd. (a) | 1,888,700 | 309,852 | ||||||
Symphony, Ltd. | 4,909 | 134,866 | ||||||
Tata Communications, Ltd. | 74,138 | 704,929 | ||||||
Tata Consultancy Services, Ltd. | 202,250 | 8,835,105 | ||||||
Tata Elxsi, Ltd. | 12,039 | 181,882 | ||||||
Tata Motors, Ltd. ADR (a) | 147,197 | 3,782,963 | ||||||
Tata Power Co., Ltd. | 1,070,388 | 1,296,511 | ||||||
Tata Steel, Ltd. | 157,422 | 1,378,312 | ||||||
Tech Mahindra, Ltd. | 142,281 | 1,393,323 | ||||||
UltraTech Cement, Ltd. | 7,921 | 479,717 | ||||||
Unitech, Ltd. (a) | 534,381 | 45,473 | ||||||
United Breweries, Ltd. | 23,285 | 338,395 | ||||||
United Spirits, Ltd. (a) | 20,614 | 989,159 | ||||||
UPL, Ltd. | 46,907 | 525,191 | ||||||
Vedanta, Ltd. | 270,434 | 1,152,072 | ||||||
Videocon Industries, Ltd. (a) | 79,375 | 15,882 | ||||||
VST Industries, Ltd. | 8,747 | 393,725 | ||||||
Welspun India, Ltd. | 65,871 | 58,628 | ||||||
Wipro, Ltd. ADR (b) | 647,293 | 3,340,032 | ||||||
Wockhardt, Ltd. (a) | 9,419 | 104,918 | ||||||
Yes Bank, Ltd. | 164,963 | 771,047 |
Security Description | Shares | Value | ||||||
Zee Entertainment Enterprises, Ltd. | 182,093 | $ | 1,606,743 | |||||
|
| |||||||
188,739,491 | ||||||||
|
| |||||||
INDONESIA — 2.8% | ||||||||
Alam Sutera Realty Tbk PT | 2,891,300 | 79,383 | ||||||
Astra International Tbk PT | 9,586,488 | 5,083,084 | ||||||
Bank Central Asia Tbk PT | 6,324,787 | 10,704,016 | ||||||
Bank Danamon Indonesia Tbk PT | 1,938,618 | 968,077 | ||||||
Bank Mandiri Persero Tbk PT | 9,561,898 | 5,330,493 | ||||||
Bank Negara Indonesia Persero Tbk PT | 777,000 | 489,593 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 23,987,325 | 6,272,335 | ||||||
Barito Pacific Tbk PT (a) | 7,590,600 | 1,273,600 | ||||||
Bekasi Fajar Industrial Estate Tbk PT | 1,795,600 | 37,562 | ||||||
Bumi Resources Tbk PT (a) | 1,115,100 | 23,165 | ||||||
Bumi Serpong Damai Tbk PT | 1,521,500 | 196,715 | ||||||
Charoen Pokphand Indonesia Tbk PT | 1,679,000 | 420,741 | ||||||
Ciputra Development Tbk PT | 2,385,452 | 203,589 | ||||||
Citra Marga Nusaphala Persada Tbk PT (a) | 649,241 | 68,378 | ||||||
Garuda Indonesia Persero Tbk PT (a) | 5,113,400 | 109,195 | ||||||
Global Mediacom Tbk PT | 254,300 | 9,882 | ||||||
Indocement Tunggal Prakarsa Tbk PT | 210,800 | 244,983 | ||||||
Indofood Sukses Makmur Tbk PT | 4,206,551 | 2,199,903 | ||||||
Indosat Tbk PT | 1,010,300 | 348,569 | ||||||
Japfa Comfeed Indonesia Tbk PT | 434,500 | 46,709 | ||||||
Kalbe Farma Tbk PT | 21,085,367 | 2,297,298 | ||||||
Kawasan Industri Jababeka Tbk PT | 1,982,631 | 37,730 | ||||||
Lippo Cikarang Tbk PT (a) | 80,700 | 18,171 | ||||||
Lippo Karawaci Tbk PT | 4,940,000 | 172,232 | ||||||
Matahari Putra Prima Tbk PT (a) | 254,500 | 7,394 | ||||||
Mayora Indah Tbk PT | 3,540,575 | 758,649 | ||||||
Medco Energi Internasional Tbk PT (a) | 12,259,066 | 1,077,426 | ||||||
Media Nusantara Citra Tbk PT | 337,100 | 34,647 | ||||||
Modernland Realty Tbk PT | 3,087,400 | 78,040 | ||||||
Pakuwon Jati Tbk PT | 2,176,000 | 99,574 | ||||||
Perusahaan Gas Negara Persero Tbk | 5,781,900 | 965,925 | ||||||
Semen Indonesia Persero Tbk PT | 339,900 | 255,527 | ||||||
Sigmagold Inti Perkasa Tbk PT (a) (e) | 1,312,600 | 4,767 | ||||||
Summarecon Agung Tbk PT | 1,684,100 | 110,703 | ||||||
Telekomunikasi Indonesia Persero Tbk PT | 14,653,100 | 3,831,571 | ||||||
Tiga Pilar Sejahtera Food Tbk (a) | 2,375,800 | 110,442 | ||||||
Unilever Indonesia Tbk PT | 253,500 | 911,900 |
80
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SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
United Tractors Tbk PT | 1,031,115 | $ | 2,396,635 | |||||
XL Axiata Tbk PT (a) | 305,125 | 55,850 | ||||||
|
| |||||||
47,334,453 | ||||||||
|
| |||||||
MACAU — 0.0% (f) | ||||||||
Newtree Group Holdings, Ltd. (a) | 35,000 | 2,141 | ||||||
|
| |||||||
MALAYSIA — 2.6% | ||||||||
Aeon Co. M Bhd | 3,175,490 | 1,469,526 | ||||||
AEON Credit Service M Bhd | 49,350 | 156,930 | ||||||
AirAsia Bhd | 486,900 | 498,481 | ||||||
Alliance Bank Malaysia Bhd | 1,875,800 | 2,070,751 | ||||||
Axiata Group Bhd | 580,199 | 818,999 | ||||||
Berjaya Sports Toto Bhd | 919,314 | 513,371 | ||||||
Bintulu Port Holdings Bhd (e) | 94 | 143 | ||||||
British American Tobacco Malaysia Bhd | 7,200 | 48,955 | ||||||
Bursa Malaysia Bhd | 391,893 | 1,110,431 | ||||||
Capitaland Malaysia Mall Trust REIT | 591,800 | 163,709 | ||||||
Carlsberg Brewery Malaysia Bhd Class B | 967,976 | 4,719,759 | ||||||
CIMB Group Holdings Bhd | 562,980 | 1,042,124 | ||||||
Dialog Group Bhd | 6,655,067 | 5,092,812 | ||||||
DiGi.Com Bhd | 2,435,400 | 2,915,176 | ||||||
Felda Global Ventures Holdings Bhd | 156,500 | 67,164 | ||||||
Genting Bhd | 1,469,000 | 3,304,111 | ||||||
Genting Malaysia Bhd | 264,800 | 332,027 | ||||||
Guan Chong Bhd | 369,000 | 129,741 | ||||||
Hap Seng Plantations Holdings Bhd | 26,500 | 17,059 | ||||||
IHH Healthcare Bhd | 371,900 | 576,887 | ||||||
IOI Corp. Bhd | 2,331,360 | 2,881,050 | ||||||
IOI Properties Group Bhd | 1,775,162 | 738,886 | ||||||
Iskandar Waterfront City Bhd (a) | 133,000 | 38,511 | ||||||
KLCCP Stapled Group | 257,600 | 475,508 | ||||||
KNM Group Bhd (a) | 1,884,021 | 102,287 | ||||||
KPJ Healthcare Bhd | 660,880 | 152,918 | ||||||
Lingkaran Trans Kota Holdings Bhd | 168,400 | 243,806 | ||||||
Magnum Bhd | 1,405,760 | 665,083 | ||||||
Malayan Banking Bhd | 1,123,449 | 3,055,502 | ||||||
Malaysian Resources Corp. Bhd | 3,492,100 | 875,733 | ||||||
MPHB Capital Bhd (a) | 676,630 | 223,911 | ||||||
Naim Holdings Bhd (a) | 87 | 22 | ||||||
OSK Holdings Bhd | 4,079,359 | 1,033,550 | ||||||
Pavilion Real Estate Investment Trust | 572,500 | 204,253 | ||||||
Petronas Chemicals Group Bhd | 99,100 | 208,807 | ||||||
Pos Malaysia Bhd | 452,600 | 418,901 | ||||||
Public Bank Bhd | 412,100 | 2,556,980 | ||||||
Sapura Energy Bhd | 205,600 | 26,843 | ||||||
Sime Darby Bhd | 442,924 | 300,016 | ||||||
Sime Darby Plantation Bhd (a) | 218,024 | 310,013 | ||||||
Sime Darby Property Bhd (a) | 218,024 | 80,040 | ||||||
SP Setia Bhd Group | 136,120 | 105,222 | ||||||
Sunway Real Estate Investment Trust | 611,600 | 254,570 |
Security Description | Shares | Value | ||||||
TA Enterprise Bhd | 2,402,900 | $ | 329,249 | |||||
TA Global Bhd | 1,663,956 | 124,754 | ||||||
Telekom Malaysia Bhd | 309,027 | 416,244 | ||||||
Tenaga Nasional Bhd | 421,800 | 1,762,225 | ||||||
UEM Edgenta Bhd | 295,000 | 176,939 | ||||||
UEM Sunrise Bhd (a) | 1,937,488 | 498,397 | ||||||
UMW Holdings Bhd (a) | 128,500 | 199,992 | ||||||
UMW Oil & Gas Corp. Bhd (a) | 38,463 | 3,083 | ||||||
Unisem M Bhd | 121,900 | 77,212 | ||||||
United Plantations Bhd | 37,500 | 276,112 | ||||||
VS Industry Bhd | 635,000 | 385,794 | ||||||
WCT Holdings Bhd (a) | 3,516,796 | 1,209,240 | ||||||
|
| |||||||
45,459,809 | ||||||||
|
| |||||||
MEXICO — 3.5% | ||||||||
Alfa SAB de CV Class A | 1,846,449 | 2,355,921 | ||||||
America Movil SAB de CV Series L | 10,502,722 | 9,925,327 | ||||||
Axtel SAB de CV (a) (b) | 746,786 | 167,330 | ||||||
Cemex SAB de CV Series CPO (a) | 5,432,086 | 3,580,025 | ||||||
Coca-Cola Femsa SAB de CV Series L | 273,010 | 1,798,230 | ||||||
Consorcio ARA SAB de CV | 742,015 | 290,651 | ||||||
Desarrolladora Homex SAB de CV (a) | 15,435 | 307 | ||||||
El Puerto de Liverpool SAB de CV Series C1 (b) | 154,568 | 1,147,394 | ||||||
Fibra Uno Administracion SA de CV REIT | 635,544 | 952,611 | ||||||
Fomento Economico Mexicano SAB de CV | 906,720 | 8,236,903 | ||||||
Grupo Aeroportuario del Sureste SAB de CV Class B (b) | 200,672 | 3,368,664 | ||||||
Grupo Bimbo SAB de CV Series A | 1,269,240 | 2,766,065 | ||||||
Grupo Elektra SAB DE CV (b) | 23,044 | 643,947 | ||||||
Grupo Financiero Banorte SAB de CV Series O | 714,480 | 4,349,860 | ||||||
Grupo Financiero Inbursa SAB de CV Series O (b) | 572,729 | 944,116 | ||||||
Grupo Mexico SAB de CV Series B | 1,413,616 | 4,689,207 | ||||||
Grupo Televisa SAB Series CPO (b) | 849,334 | 2,690,826 | ||||||
Impulsora del Desarrollo y el Empleo en America Latina SAB de CV (a) | 731,174 | 1,291,827 | ||||||
Industrias CH SAB de CV Series B (b) | 198,464 | 831,976 | ||||||
Industrias Penoles SAB de CV | 68,793 | 1,384,114 | ||||||
Kimberly-Clark de Mexico SAB de CV Class A (b) | 1,130,769 | 2,108,712 | ||||||
Sare Holding SAB de CV Class B (a) | 832,296 | 2,143 | ||||||
Telesites SAB de CV (a) (b) | 529,902 | 414,260 | ||||||
TV Azteca SAB de CV Series CPO (b) | 1,707,097 | 242,221 |
81
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Urbi Desarrollos Urbanos SAB de CV (a) | 255,403 | $ | 93,467 | |||||
Wal-Mart de Mexico SAB de CV | 2,207,718 | 5,595,038 | ||||||
|
| |||||||
59,871,142 | ||||||||
|
| |||||||
MONACO — 0.0%(f) | ||||||||
GasLog, Ltd. (b) | 7,530 | 123,868 | ||||||
|
| |||||||
NETHERLANDS — 0.0% (f) | ||||||||
VEON, Ltd. ADR (b) | 170,558 | 450,273 | ||||||
|
| |||||||
PERU — 0.9% | ||||||||
Cia de Minas Buenaventura SAA | 141,913 | 2,161,335 | ||||||
Cia de Minas Buenaventura SAA | 5,932 | 86,963 | ||||||
Credicorp, Ltd. | 30,548 | 6,935,618 | ||||||
Southern Copper Corp. (b) (g) | 94,102 | 5,098,446 | ||||||
Southern Copper Corp. (g) | 4,688 | 245,417 | ||||||
Volcan Cia Minera SAA Class B | 2,087,904 | 776,425 | ||||||
|
| |||||||
15,304,204 | ||||||||
|
| |||||||
PHILIPPINES — 1.4% | ||||||||
Alliance Global Group, Inc. (a) | 923,700 | 233,680 | ||||||
Ayala Land, Inc. | 5,944,680 | 4,682,600 | ||||||
Bank of the Philippine Islands | 2,142,557 | 4,804,354 | ||||||
BDO Unibank, Inc. | 1,580,246 | 4,209,749 | ||||||
Bloomberry Resorts Corp. (a) | 354,600 | 97,455 | ||||||
Cebu Air, Inc. | 643,960 | 1,167,527 | ||||||
Cebu Holdings, Inc. | 3,182,300 | 363,500 | ||||||
D&L Industries, Inc. | 972,100 | 215,370 | ||||||
DoubleDragon Properties Corp. (a) | 651,750 | 398,463 | ||||||
East West Banking Corp. | 537,600 | 194,732 | ||||||
Filinvest Land, Inc. | 27,294,000 | 863,113 | ||||||
First Philippine Holdings Corp. | 180,390 | 228,178 | ||||||
Global Ferronickel Holdings, Inc. (a) | 812,333 | 37,676 | ||||||
GMA Holdings, Inc. | 1,547,500 | 182,399 | ||||||
GT Capital Holdings, Inc. | 4,390 | 98,355 | ||||||
JG Summit Holdings, Inc. | 215,270 | 258,683 | ||||||
Megawide Construction Corp. (a) | 2,065,388 | 809,490 | ||||||
Megaworld Corp. | 3,027,500 | 272,128 | ||||||
Nickel Asia Corp. | 258,000 | 30,162 | ||||||
PLDT, Inc. | 45,965 | 1,294,975 | ||||||
Puregold Price Club, Inc. | 140,350 | 141,083 | ||||||
San Miguel Corp. | 61,780 | 158,661 | ||||||
SM Investments Corp. | 73,910 | 1,298,941 | ||||||
SM Prime Holdings, Inc. | 1,374,290 | 887,616 | ||||||
Top Frontier Investment Holdings, Inc. (a) | 8,171 | 43,222 | ||||||
Universal Robina Corp. | 102,860 | 299,645 | ||||||
Vista Land & Lifescapes, Inc. | 478,878 | 59,656 | ||||||
|
| |||||||
23,331,413 | ||||||||
|
| |||||||
POLAND — 1.1% | ||||||||
Asseco Poland SA | 38,361 | 503,969 | ||||||
Bank Pekao SA | 70,023 | 2,520,607 | ||||||
Bank Zachodni WBK SA | 10,484 | 1,108,605 |
Security Description | Shares | Value | ||||||
Bioton SA (a) | 450 | $ | 562 | |||||
Eurocash SA | 3,544 | 24,314 | ||||||
Getin Holding SA (a) | 137,432 | 46,141 | ||||||
Getin Noble Bank SA (a) | 127,468 | 50,239 | ||||||
Globe Trade Centre SA | 118,981 | 317,487 | ||||||
Grupa Lotos SA | 74,414 | 1,147,070 | ||||||
KGHM Polska Miedz SA | 74,947 | 1,899,658 | ||||||
LPP SA | 73 | 185,414 | ||||||
mBank SA (a) | 11,403 | 1,394,207 | ||||||
Orange Polska SA (a) | 459,047 | 777,296 | ||||||
Orbis SA | 36,026 | 1,020,209 | ||||||
PGE Polska Grupa Energetyczna SA (a) | 261,211 | 755,730 | ||||||
Polimex-Mostostal SA (a) | 6,647 | 7,568 | ||||||
Polski Koncern Naftowy ORLEN SA | 99,179 | 2,435,681 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA (a) | 207,615 | 2,451,158 | ||||||
Powszechny Zaklad Ubezpieczen SA | 133,505 | 1,627,254 | ||||||
|
| |||||||
18,273,169 | ||||||||
|
| |||||||
QATAR — 0.5% | ||||||||
Aamal Co. | 16,876 | 44,854 | ||||||
Industries Qatar QSC | 19,810 | 571,672 | ||||||
Mannai Corp. QSC | 12,637 | 195,003 | ||||||
Masraf Al Rayan QSC | 141,147 | 1,369,614 | ||||||
Mazaya Qatar Real Estate Development QSC (a) | 76,961 | 154,683 | ||||||
Medicare Group | 10,167 | 191,448 | ||||||
National Leasing | 113,412 | 320,431 | ||||||
Ooredoo QSC | 36,182 | 819,807 | ||||||
Qatar Electricity & Water Co. QSC | 3,294 | 170,036 | ||||||
Qatar Insurance Co. SAQ | 39,528 | 407,002 | ||||||
Qatar National Bank QPSC | 86,990 | 3,105,080 | ||||||
Qatari Investors Group QSC | 36,186 | 336,623 | ||||||
Vodafone Qatar QSC (a) | 140,523 | 335,295 | ||||||
|
| |||||||
8,021,548 | ||||||||
|
| |||||||
RUSSIA — 4.3% | ||||||||
Evraz PLC | 86,517 | 527,336 | ||||||
Gazprom PJSC ADR | 2,193,337 | 10,672,778 | ||||||
LSR Group PJSC, GDR | 52,305 | 167,376 | ||||||
LUKOIL PJSC ADR | 178,836 | 12,321,800 | ||||||
Magnit PJSC GDR | 61,320 | 1,130,434 | ||||||
Mail.Ru Group, Ltd. GDR (a) | 15,391 | 538,377 | ||||||
Mechel PJSC ADR (a) (b) | 65,827 | 286,347 | ||||||
MMC Norilsk Nickel PJSC ADR | 261,828 | 4,852,982 | ||||||
Mobile TeleSystems PJSC ADR | 333,223 | 3,795,410 | ||||||
Novatek PJSC, GDR | 34,583 | 4,737,871 | ||||||
Novolipetsk Steel PJSC, GDR | 14,092 | 350,891 | ||||||
Novorossiysk Commercial Sea Port PJSC, GDR | 21,999 | 222,190 | ||||||
Polymetal International PLC | 47,667 | 490,806 | ||||||
Rosneft Oil Co. PJSC GDR | 536,165 | 2,939,257 | ||||||
Rostelecom PJSC ADR | 39,641 | 275,505 |
82
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Sberbank of Russia PJSC ADR (g) | 339,107 | $ | 6,317,563 | |||||
Sberbank of Russia PJSC ADR (g) | 355,019 | 6,621,104 | ||||||
Severstal PJSC GDR | 200,690 | 3,028,412 | ||||||
Sistema PJSC FC GDR | 57,924 | 234,013 | ||||||
Surgutneftegas OJSC ADR | 774,602 | 3,787,804 | ||||||
Tatneft PJSC ADR (b) | 101,618 | 6,414,128 | ||||||
Tatneft PJSC ADR | 12,997 | 834,797 | ||||||
TMK PJSC, GDR | 19,817 | 111,768 | ||||||
VTB Bank PJSC GDR | 882,251 | 1,727,448 | ||||||
X5 Retail Group NV GDR (a) | 16,097 | 540,859 | ||||||
Yandex NV Class A (a) | 44,271 | 1,746,491 | ||||||
|
| |||||||
74,673,747 | ||||||||
|
| |||||||
SOUTH AFRICA — 7.4% | ||||||||
Adbee Rf, Ltd. (a) | 6,985 | 33,013 | ||||||
Adcock Ingram Holdings, Ltd. | 38,881 | 232,589 | ||||||
Adcorp Holdings, Ltd. | 224,685 | 319,523 | ||||||
African Phoenix Investments, Ltd. (a) | 992,463 | 52,769 | ||||||
African Rainbow Minerals, Ltd. | 47,936 | 410,230 | ||||||
Allied Electronics Corp., Ltd. (a) | 52,875 | 57,611 | ||||||
Anglo American Platinum, Ltd. | 13,164 | 359,965 | ||||||
AngloGold Ashanti, Ltd. | 115,380 | 1,095,690 | ||||||
ArcelorMittal South Africa, Ltd. (a) | 69,157 | 15,467 | ||||||
Aspen Pharmacare Holdings, Ltd. | 114,912 | 2,516,305 | ||||||
Aveng, Ltd. (a) | 258,482 | 21,815 | ||||||
Barclays Africa Group, Ltd. | 155,386 | 2,487,750 | ||||||
Barloworld, Ltd. | 110,593 | 1,549,959 | ||||||
Bid Corp., Ltd. | 44,379 | 965,392 | ||||||
Bidvest Group, Ltd. | 162,114 | 3,066,125 | ||||||
Coronation Fund Managers, Ltd. | 233,603 | 1,591,822 | ||||||
Discovery, Ltd. (b) | 159,279 | 2,291,978 | ||||||
FirstRand, Ltd. (b) | 1,226,187 | 6,923,254 | ||||||
Foschini Group, Ltd. | 106,258 | 2,006,560 | ||||||
Gold Fields, Ltd. | 257,153 | 1,041,308 | ||||||
Grindrod, Ltd. (a) | 435,088 | 505,269 | ||||||
Group Five, Ltd. | 123,607 | 82,413 | ||||||
Growthpoint Properties, Ltd. REIT | 355,773 | 853,045 | ||||||
Harmony Gold Mining Co., Ltd. | 104,139 | 247,235 | ||||||
Impala Platinum Holdings, Ltd. (a) (b) | 184,859 | 367,261 | ||||||
Imperial Holdings, Ltd. (b) | 85,414 | 1,681,428 | ||||||
Investec, Ltd. | 94,269 | 734,182 | ||||||
Invicta Holdings, Ltd. | 176,388 | 751,775 | ||||||
Kumba Iron Ore, Ltd. (b) | 18,427 | 440,195 | ||||||
Lewis Group, Ltd. | 111,717 | 397,886 | ||||||
Massmart Holdings, Ltd. | 72,736 | 994,470 | ||||||
Mediclinic International PLC | 56,687 | 479,139 | ||||||
MMI Holdings, Ltd. | 413,625 | 767,294 | ||||||
Mr. Price Group, Ltd. | 75,815 | 1,823,591 | ||||||
MTN Group, Ltd. (b) | 468,396 | 4,705,010 | ||||||
Murray & Roberts Holdings, Ltd. | 309,656 | 360,650 |
Security Description | Shares | Value | ||||||
Naspers, Ltd. Class N | 134,550 | $ | 32,838,660 | |||||
Nedbank Group, Ltd. | 125,690 | 3,028,971 | ||||||
Netcare, Ltd. | 973,029 | 2,299,383 | ||||||
Northam Platinum, Ltd. (a) | 130,118 | 399,071 | ||||||
PPC, Ltd. (a) | 222,514 | 147,419 | ||||||
PSG Group, Ltd. | 105,724 | 2,008,254 | ||||||
Rand Merchant Investment Holdings, Ltd. | 516,261 | 1,742,837 | ||||||
Remgro, Ltd. | 219,572 | 4,113,935 | ||||||
RMB Holdings, Ltd. | 418,339 | 2,723,904 | ||||||
Sanlam, Ltd. | 658,712 | 4,742,115 | ||||||
Sappi, Ltd. | 131,336 | 844,629 | ||||||
Sasol, Ltd. | 154,619 | 5,261,907 | ||||||
Shoprite Holdings, Ltd. | 220,524 | 4,700,914 | ||||||
Sibanye Gold, Ltd. | 395,177 | 392,551 | ||||||
Standard Bank Group, Ltd. | 423,815 | 7,821,911 | ||||||
Steinhoff International Holdings NV (b) | 946,432 | 263,591 | ||||||
Sun International, Ltd. (a) | 76,897 | 371,546 | ||||||
Telkom SA SOC, Ltd. | 124,491 | 556,224 | ||||||
Tiger Brands, Ltd. | 90,899 | 2,853,839 | ||||||
Trans Hex Group, Ltd. (a) | 9,341 | 1,340 | ||||||
Truworths International, Ltd. (b) | 184,256 | 1,672,164 | ||||||
Vodacom Group, Ltd. | 162,909 | 2,104,566 | ||||||
Wilson Bayly Holmes-Ovcon, Ltd. | 107,095 | 1,401,059 | ||||||
Woolworths Holdings, Ltd. | 379,303 | 1,920,724 | ||||||
|
| |||||||
126,441,482 | ||||||||
|
| |||||||
TAIWAN — 13.8% | ||||||||
Acer, Inc. (a) | 1,303,701 | 1,082,058 | ||||||
Adlink Technology, Inc. | 367,665 | 766,678 | ||||||
Advanced Ceramic X Corp. | 4,000 | 37,178 | ||||||
Advanced Semiconductor Engineering, Inc. | 2,698,117 | 3,900,457 | ||||||
Advanced Wireless Semiconductor Co. | 13,000 | 27,599 | ||||||
Advancetek Enterprise Co., Ltd. | 1,342,996 | 912,005 | ||||||
Advantech Co., Ltd. | 5,499 | 39,417 | ||||||
AGV Products Corp. (a) | 2,226,415 | 568,115 | ||||||
Airmate Cayman International Co., Ltd. | 11,000 | 8,941 | ||||||
APCB, Inc. | 441,000 | 390,982 | ||||||
Asustek Computer, Inc. | 368,340 | 3,429,856 | ||||||
AU Optronics Corp. ADR (b) | 474,276 | 2,167,441 | ||||||
Audix Corp. | 377,600 | 562,703 | ||||||
Bank of Kaohsiung Co., Ltd. | 813,390 | 259,720 | ||||||
Basso Industry Corp. | 1,262,900 | 2,252,317 | ||||||
Biostar Microtech International Corp. (a) | 856,000 | 688,452 | ||||||
C Sun Manufacturing, Ltd. (a) | 439,000 | 400,501 | ||||||
Carnival Industrial Corp. (a) | 841,000 | 131,528 | ||||||
Catcher Technology Co., Ltd. | 370,000 | 4,587,406 | ||||||
Cathay Financial Holding Co., Ltd. | 2,225,541 | 3,953,871 | ||||||
Cathay No. 1 REIT | 490,000 | 231,245 | ||||||
Center Laboratories, Inc. (a) | 386,961 | 812,224 | ||||||
Chailease Holding Co., Ltd. | 367,608 | 1,260,788 |
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SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Champion Building Materials Co., Ltd. (a) | 490,000 | $ | 139,486 | |||||
Chang Hwa Commercial Bank, Ltd. | 3,903,465 | 2,255,835 | ||||||
Chang Wah Electromaterials, Inc. | 7,431 | 38,102 | ||||||
Charoen Pokphand Enterprise | 2,165,060 | 4,856,293 | ||||||
Chen Full International Co., Ltd. | 12,000 | 18,500 | ||||||
Cheng Loong Corp. | 365,000 | 203,425 | ||||||
Cheng Shin Rubber Industry Co., Ltd. | 68,850 | 111,810 | ||||||
China Airlines, Ltd. (a) | 881,000 | 321,797 | ||||||
China Chemical & Pharmaceutical Co., Ltd. | 810,000 | 550,057 | ||||||
China Development Financial Holding Corp. | 5,529,945 | 1,953,508 | ||||||
China Steel Chemical Corp. | 373,595 | 1,947,609 | ||||||
China Steel Corp. | 3,535,451 | 2,813,131 | ||||||
Chipbond Technology Corp. | 66,000 | 155,057 | ||||||
Chong Hong Construction Co., Ltd. | 7,717 | 22,365 | ||||||
Chung Hwa Pulp Corp. | 882,794 | 346,675 | ||||||
Chunghwa Chemical Synthesis & Biotech Co., Ltd. | 370,000 | 341,993 | ||||||
Chunghwa Telecom Co., Ltd. | 1,252,457 | 4,789,552 | ||||||
CMC Magnetics Corp. (a) | 904,933 | 141,837 | ||||||
Coland Holdings, Ltd. | 11,938 | 19,448 | ||||||
Compal Electronics, Inc. | 2,220,774 | 1,511,896 | ||||||
Coxon Precise Industrial Co., Ltd. (a) | 10,000 | 10,100 | ||||||
CTBC Financial Holding Co., Ltd. | 6,193,527 | 4,439,576 | ||||||
Da-Li Development Co., Ltd. | 511,444 | 617,444 | ||||||
Delta Electronics, Inc. | 886,167 | 3,951,082 | ||||||
Dimerco Express Corp. | 1,267,000 | 925,579 | ||||||
E.Sun Financial Holding Co., Ltd. | 849,687 | 571,179 | ||||||
Eclat Textile Co., Ltd. | 8,854 | 103,247 | ||||||
Elan Microelectronics Corp. | 2,000 | 3,035 | ||||||
Elite Advanced Laser Corp. | 11,520 | 44,054 | ||||||
Elite Material Co., Ltd. | 13,000 | 42,669 | ||||||
Elite Semiconductor Memory Technology, Inc. | 814,750 | 1,243,488 | ||||||
Episil-Precision, Inc. (a) | 998 | 1,244 | ||||||
Epistar Corp. (a) | 366,180 | 523,078 | ||||||
Etron Technology, Inc. (a) | 12,445 | 5,122 | ||||||
Eva Airways Corp. | 503,291 | 258,058 | ||||||
Excelsior Medical Co., Ltd. | 72,344 | 119,965 | ||||||
Far Eastern New Century Corp. | 2,582,850 | 2,325,336 | ||||||
Feng TAY Enterprise Co., Ltd. | 15,747 | 71,560 | ||||||
Flytech Technology Co., Ltd. | 8,854 | 24,384 | ||||||
Formosa Chemicals & Fibre Corp. | 1,262,243 | 4,718,746 | ||||||
Formosa Petrochemical Corp. | 59,000 | 239,788 | ||||||
Formosa Plastics Corp. | 1,785,714 | 6,308,212 | ||||||
Founding Construction & Development Co., Ltd. | 1,834,677 | 1,006,785 | ||||||
Foxconn Technology Co., Ltd. | 508,223 | 1,361,327 |
Security Description | Shares | Value | ||||||
Fubon Financial Holding Co., Ltd. | 3,019,903 | $ | 5,189,050 | |||||
Fullerton Technology Co., Ltd. | 363,000 | 303,776 | ||||||
Fwusow Industry Co., Ltd. | 885,383 | 560,254 | ||||||
Giant Manufacturing Co., Ltd. | 72,302 | 379,401 | ||||||
Grape King Bio, Ltd. | 73,664 | 646,774 | ||||||
Great Wall Enterprise Co., Ltd. | 365,300 | 432,867 | ||||||
HannStar Display Corp. | 483,500 | 166,656 | ||||||
Himax Technologies, Inc. ADR (b) | 22,907 | 141,107 | ||||||
Hiwin Technologies Corp. | 9,548 | 135,899 | ||||||
Hocheng Corp. (a) | 1,322,000 | 431,644 | ||||||
Hon Hai Precision Industry Co., Ltd. | 4,781,495 | 14,759,219 | ||||||
Hong TAI Electric Industrial | 876,000 | 345,509 | ||||||
Hota Industrial Manufacturing Co., Ltd. | 9,574 | 40,717 | ||||||
Hotai Motor Co., Ltd. | 72,433 | 721,672 | ||||||
HTC Corp. (a) | 436,198 | 991,869 | ||||||
Hua Nan Financial Holdings Co., Ltd. | 3,940,683 | 2,365,194 | ||||||
Hung Sheng Construction, Ltd. | 446,000 | 465,014 | ||||||
Ibase Technology, Inc. | 823,222 | 1,291,711 | ||||||
Innolux Corp. | 1,766,820 | 772,609 | ||||||
Iron Force Industrial Co., Ltd. | 6,000 | 20,311 | ||||||
Janfusun Fancyworld Corp. (a) | 886,112 | 68,380 | ||||||
KEE TAI Properties Co., Ltd. | 422,000 | 148,352 | ||||||
Kenda Rubber Industrial Co., Ltd. | 4,766 | 5,991 | ||||||
Kerry TJ Logistics Co., Ltd. | 435,000 | 564,693 | ||||||
Kindom Construction Corp. | 371,000 | 260,846 | ||||||
Kung Long Batteries Industrial Co., Ltd. | 9,000 | 44,912 | ||||||
Kuoyang Construction Co., Ltd. (a) | 363,225 | 206,173 | ||||||
Kwong Fong Industries Corp. | 55,776 | 31,659 | ||||||
Land Mark Optoelectronics Corp. | 2,600 | 33,886 | ||||||
Largan Precision Co., Ltd. | 6,000 | 682,169 | ||||||
Leofoo Development Co., Ltd. (a) | 879,645 | 224,761 | ||||||
Li Cheng Enterprise Co., Ltd. | 9,225 | 15,788 | ||||||
Lite-On Technology Corp. | 1,263,265 | 1,763,380 | ||||||
Long Bon International Co., Ltd. | 11,000 | 5,319 | ||||||
Long Chen Paper Co., Ltd. | 6,595,165 | 7,419,193 | ||||||
Makalot Industrial Co., Ltd. | 4,139 | 19,519 | ||||||
MediaTek, Inc. | 435,329 | 4,942,000 | ||||||
Medigen Biotechnology Corp. (a) | 5,248 | 7,020 | ||||||
Mega Financial Holding Co., Ltd. | 2,649,333 | 2,276,153 | ||||||
Merida Industry Co., Ltd. | 2,100 | 9,867 | ||||||
Merry Electronics Co., Ltd. | 13,356 | 76,498 | ||||||
Mosel Vitelic, Inc. (a) | 759 | 725 | ||||||
Namchow Holdings Co., Ltd. | 434,000 | 902,027 | ||||||
Nan Ya Plastics Corp. | 1,777,486 | 4,986,739 | ||||||
Nanya Technology Corp. | 3,982 | 12,605 | ||||||
National Petroleum Co., Ltd. | 2,140,003 | 2,979,872 | ||||||
Neo Solar Power Corp. (a) | 63,938 | 28,398 |
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SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
New Era Electronics Co., Ltd. | 70,000 | $ | 43,935 | |||||
Newmax Technology Co., Ltd. (a) | 67,185 | 98,046 | ||||||
Nexcom International Co., Ltd. | 452,638 | 449,424 | ||||||
Novatek Microelectronics Corp. | 354,225 | 1,603,653 | ||||||
OBI Pharma, Inc. (a) | 3,000 | 18,829 | ||||||
Pacific Hospital Supply Co., Ltd. | 68,000 | 176,081 | ||||||
Pan Jit International, Inc. | 9,000 | 14,924 | ||||||
Parade Technologies, Ltd. | 4,000 | 77,923 | ||||||
PChome Online, Inc. | 3,519 | 19,431 | ||||||
Pegatron Corp. | 436,686 | 1,087,334 | ||||||
Phytohealth Corp. (a) | 9,000 | 7,562 | ||||||
Pihsiang Machinery Manufacturing Co., Ltd. (a) (d) | 51,000 | — | ||||||
Pou Chen Corp. | 1,584,462 | 2,103,052 | ||||||
Powertech Technology, Inc. | 448,285 | 1,397,575 | ||||||
Promate Electronic Co., Ltd. | 438,000 | 430,384 | ||||||
ProMOS Technologies, Inc. (a) (d) | 257 | — | ||||||
Quanta Computer, Inc. | 1,696,664 | 3,421,609 | ||||||
Radiant Opto-Electronics Corp. | 14,000 | 34,331 | ||||||
Sampo Corp. | 1,503,000 | 719,102 | ||||||
Sesoda Corp. | 520,574 | 533,840 | ||||||
Shih Wei Navigation Co., Ltd. (a) | 870,321 | 217,304 | ||||||
Shin Kong Financial Holding Co., Ltd. | 2,137,663 | 810,137 | ||||||
Silicon Motion Technology Corp. ADR | 6,261 | 301,279 | ||||||
Siliconware Precision Industries Co., Ltd. | 875,473 | 1,528,332 | ||||||
Sinbon Electronics Co., Ltd. | 456,068 | 1,198,162 | ||||||
Sinon Corp. | 877,000 | 515,847 | ||||||
SinoPac Financial Holdings Co., Ltd. | 5,683,907 | 2,007,897 | ||||||
Sinphar Pharmaceutical Co., Ltd. | 501,524 | 409,379 | ||||||
Solar Applied Materials Technology Co. (a) | 696,418 | 517,113 | ||||||
Solartech Energy Corp. (a) | 10,041 | 4,684 | ||||||
Stark Technology, Inc. | 403,400 | 506,377 | ||||||
Supreme Electronics Co., Ltd. | 1,253,818 | 1,369,623 | ||||||
Ta Ya Electric Wire & Cable (a) | 2,654,000 | 1,365,367 | ||||||
Tainan Enterprises Co., Ltd. | 373,000 | 299,991 | ||||||
Taishin Financial Holding Co., Ltd. | 5,242,615 | 2,571,231 | ||||||
Taisun Enterprise Co., Ltd. (a) | 957,000 | 564,544 | ||||||
Taiwan Cement Corp. | 2,138,533 | 2,680,776 | ||||||
Taiwan Chinsan Electronic Industrial Co., Ltd. | 75,000 | 168,999 | ||||||
Taiwan Cogeneration Corp. | 375,000 | 347,901 | ||||||
Taiwan Fire & Marine Insurance Co., Ltd. | 69,000 | 48,868 | ||||||
Taiwan FU Hsing Industrial Co., Ltd. | 367,000 | 463,203 | ||||||
Taiwan Land Development Corp. (a) | 1,353,750 | 445,261 |
Security Description | Shares | Value | ||||||
Taiwan Mobile Co., Ltd. | 4,000 | $ | 14,954 | |||||
Taiwan Paiho, Ltd. | 377,433 | 1,049,827 | ||||||
Taiwan Pulp & Paper Corp. (a) | 2,185,000 | 1,363,892 | ||||||
Taiwan Sakura Corp. | 463,200 | 606,066 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 173,372 | 7,586,759 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 4,822,500 | 40,357,033 | ||||||
Taiwan TEA Corp. | 814,913 | 410,852 | ||||||
Taiwan Union Technology Corp. | 884,000 | 2,792,345 | ||||||
Taiyen Biotech Co., Ltd. | 428,500 | 414,436 | ||||||
Tatung Co., Ltd. (a) | 1,240,885 | 897,989 | ||||||
TPK Holding Co., Ltd. (a) | 8,000 | 19,865 | ||||||
Transasia Airways Corp. (a) (d) | 361,784 | — | ||||||
Tripod Technology Corp. | 448,320 | 1,508,392 | ||||||
TrueLight Corp. | 9,100 | 9,426 | ||||||
Tung Thih Electronic Co., Ltd. | 5,000 | 21,350 | ||||||
Uni-President Enterprises Corp. | 877,993 | 2,056,690 | ||||||
United Microelectronics Corp. ADR (b) | 1,735,440 | 4,494,790 | ||||||
Unity Opto Technology Co., Ltd. (a) | 12,759 | 4,249 | ||||||
Ve Wong Corp. | 436,000 | 393,278 | ||||||
Visual Photonics Epitaxy Co., Ltd. | 491,151 | 1,895,068 | ||||||
Wei Chuan Foods Corp. (a) | 362,000 | 300,456 | ||||||
Wei Mon Industry Co., Ltd. (a) (d) | 240,450 | — | ||||||
Weikeng Industrial Co., Ltd. | 448,526 | 337,660 | ||||||
Winbond Electronics Corp. | 381,670 | 255,913 | ||||||
Wistron Corp. | 1,261,911 | 1,079,833 | ||||||
Yulon Finance Corp. | 9,000 | 37,504 | ||||||
Zeng Hsing Industrial Co., Ltd. | 70,350 | 316,077 | ||||||
Zenitron Corp. | 894,000 | 702,150 | ||||||
|
| |||||||
237,309,258 | ||||||||
|
| |||||||
THAILAND — 3.3% | ||||||||
Advanced Info Service PCL (e) | 741,515 | 4,884,940 | ||||||
Airports of Thailand PCL (e) | 1,180,300 | 2,491,199 | ||||||
Bangkok Dusit Medical Services PCL (e) | 345,900 | 259,950 | ||||||
Bangkok Expressway & Metro PCL (e) | 21,690,908 | 4,994,389 | ||||||
Bangkok Land PCL (e) | 4,705,600 | 276,889 | ||||||
Bank of Ayudhya PCL | 154,000 | 200,688 | ||||||
Banpu PCL (e) | 1,475,860 | 934,507 | ||||||
BEC World PCL (e) | 177,400 | 71,482 | ||||||
BTS Group Holdings PCL (e) | 220,500 | 58,527 | ||||||
Bumrungrad Hospital PCL (e) | 45,500 | 301,199 | ||||||
Central Pattana PCL (e) | 352,000 | 883,658 | ||||||
Central Plaza Hotel PCL (e) | 262,700 | 403,249 | ||||||
CH Karnchang PCL (e) | 44,248 | 33,253 | ||||||
Charoen Pokphand Foods PCL (e) | 132,300 | 106,830 | ||||||
CP ALL PCL (e) | 1,226,600 | 3,412,670 | ||||||
Electricity Generating PCL (e) | 532,374 | 3,898,741 | ||||||
IRPC PCL (e) | 6,117,858 | 1,418,435 | ||||||
Jasmine International PCL (e) | 1,848,141 | 363,482 | ||||||
Kasikornbank PCL (e) | 393,600 | 2,681,062 |
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SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Krung Thai Bank PCL (e) | 305,100 | $ | 185,382 | |||||
Land & Houses PCL (e) | 472,400 | 158,625 | ||||||
Minor International PCL (e) | 50,728 | 61,646 | ||||||
Pruksa Holding PCL (e) | 176,900 | 122,761 | ||||||
PTT Exploration & Production PCL (e) | 773,530 | 2,832,401 | ||||||
PTT Global Chemical PCL (e) | 139,500 | 422,693 | ||||||
PTT PCL (e) | 391,936 | 6,868,594 | ||||||
Quality Houses PCL (e) | 1,645,383 | 153,646 | ||||||
Sansiri PCL (e) | 1,715,233 | 91,055 | ||||||
Siam Cement PCL (e) | 264,723 | 4,182,065 | ||||||
Siam Commercial Bank PCL (e) | 788,802 | 3,569,411 | ||||||
Siam Future Development PCL (e) | 1,192,513 | 343,224 | ||||||
Tesco Lotus Retail Growth Freehold & Leasehold Property Fund | 581,066 | 332,622 | ||||||
Thai Airways International PCL (a) (e) | 434,400 | 212,546 | ||||||
Thai Beverage PCL (b) | 2,683,200 | 1,596,047 | ||||||
Thai Oil PCL (e) | 749,995 | 2,176,592 | ||||||
Thaicom PCL (e) | 265,600 | 101,076 | ||||||
TICON Industrial Connection PCL (e) | 781,880 | 442,574 | ||||||
Tisco Financial Group PCL NVDR | 43,000 | 121,011 | ||||||
Tisco Financial Group PCL (e) | 926,818 | 2,608,250 | ||||||
TMB Bank PCL (e) | 30,573,517 | 2,463,872 | ||||||
Total Access Communication PCL (a) (e) | 45,000 | 64,759 | ||||||
True Corp. PCL (e) | 3,402,510 | 756,234 | ||||||
TTCL PCL (e) | 44,800 | 11,318 | ||||||
U City PCL (a) (e) | 55,879,500 | 53,610 | ||||||
|
| |||||||
57,607,164 | ||||||||
|
| |||||||
TURKEY — 1.2% | ||||||||
Akbank Turk A/S | 692,084 | 1,670,198 | ||||||
Anadolu Efes Biracilik Ve Malt Sanayii A/S | 148,745 | 1,016,816 | ||||||
Aselsan Elektronik Sanayi Ve Ticaret A/S | 41,070 | 318,284 | ||||||
BIM Birlesik Magazalar A/S | 27,110 | 488,287 | ||||||
Coca-Cola Icecek A/S | 3,094 | 28,149 | ||||||
Dogan Sirketler Grubu Holding A/S (a) | 987,767 | 331,633 | ||||||
Eregli Demir ve Celik Fabrikalari TAS | 1,023,388 | 2,686,736 | ||||||
Haci Omer Sabanci Holding A/S | 369,181 | 976,679 | ||||||
KOC Holding A/S | 554,111 | 2,277,207 | ||||||
Migros Ticaret A/S (a) | 5,749 | 34,395 | ||||||
Tupras Turkiye Petrol Rafinerileri A/S | 75,703 | 2,100,207 | ||||||
Turk Hava Yollari AO (a) | 181,733 | 890,452 | ||||||
Turkcell Iletisim Hizmetleri A/S | 318,212 | 1,209,742 | ||||||
Turkiye Garanti Bankasi A/S | 1,373,113 | 3,778,192 | ||||||
Turkiye Halk Bankasi A/S | 70,846 | 161,851 | ||||||
Turkiye Is Bankasi A/S Class C | 864,515 | 1,556,013 | ||||||
Turkiye Vakiflar Bankasi TAO | 120,800 | 198,213 | ||||||
Ulker Biskuvi Sanayi A/S | 191,006 | 1,058,841 |
Security Description | Shares | Value | ||||||
Yapi ve Kredi Bankasi A/S (a) | 556,141 | $ | 624,735 | |||||
|
| |||||||
21,406,630 | ||||||||
|
| |||||||
UNITED ARAB EMIRATES — 0.6% |
| |||||||
Abu Dhabi Commercial Bank PJSC | 624,100 | 1,121,443 | ||||||
Agthia Group PJSC | 35,863 | 42,961 | ||||||
Air Arabia PJSC | 1,441,800 | 447,496 | ||||||
Ajman Bank PJSC (e) | 595,778 | 164,638 | ||||||
Al Waha Capital PJSC | 266,355 | 158,087 | ||||||
Aldar Properties PJSC | 1,209,581 | 701,445 | ||||||
Arabtec Holding PJSC (a) | 188,641 | 114,530 | ||||||
Bank of Sharjah | 230,323 | 68,978 | ||||||
DAMAC Properties Dubai Co. PJSC | 1,002,468 | 816,058 | ||||||
Depa, Ltd. | 120,293 | 48,799 | ||||||
Deyaar Development PJSC (a) | 898,807 | 116,480 | ||||||
DP World, Ltd. | 49,386 | 1,111,185 | ||||||
Dubai Financial Market PJSC (a) | 541,753 | 153,396 | ||||||
Dubai Investments PJSC | 487,034 | 277,131 | ||||||
Emaar Malls PJSC | 289,046 | 169,194 | ||||||
Emaar Properties PJSC | 1,044,471 | 1,649,314 | ||||||
Eshraq Properties Co. PJSC (a) | 690,450 | 135,345 | ||||||
First Abu Dhabi Bank PJSC | 522,475 | 1,664,296 | ||||||
Gulf General Investment Co. (a) (e) | 469,156 | 42,023 | ||||||
Gulf Pharmaceutical Industries PSC | 81,964 | 51,325 | ||||||
Invest bank PSC | 59,153 | 38,652 | ||||||
National Central Cooling Co. PJSC | 1,087,135 | 458,769 | ||||||
Orascom Construction, Ltd. (a) | 3,310 | 28,764 | ||||||
RAK Properties PJSC | 1,071,683 | 198,406 | ||||||
Ras Al Khaimah Ceramics | 86,729 | 59,031 | ||||||
SHUAA Capital PSC (a) | 1,498,243 | 428,303 | ||||||
Union National Bank PJSC | 225,268 | 217,724 | ||||||
Union Properties PJSC (a) | 426,038 | 100,797 | ||||||
|
| |||||||
10,584,570 | ||||||||
|
| |||||||
UNITED KINGDOM — 0.0% (f) | ||||||||
Tiso Blackstar Group SE | 871 | 379 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 1,707,282,245 | |||||||
|
| |||||||
PREFERRED STOCKS — 0.0% (f) | ||||||||
SOUTH AFRICA — 0.0% (f) | ||||||||
Zambezi Platinum RF, Ltd. | 33,422 | 169,271 | ||||||
|
| |||||||
WARRANTS — 0.0% (f) | ||||||||
INDONESIA — 0.0% (f) | ||||||||
Medco Energi Internasional Tbk | 1,696,566 | 77,635 | ||||||
|
|
86
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SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||
MALAYSIA — 0.0% (f) | ||||||
Malaysian Resources Corp. Bhd | 179,301 | $ | 15,529 | |||
|
| |||||
SOUTH AFRICA — 0.0% (f) | ||||||
Adcock Ingram Holdings, Ltd. | 335 | 226 | ||||
|
| |||||
TOTAL WARRANTS | 93,390 | |||||
|
| |||||
RIGHTS — 0.0% (f) | ||||||
BRAZIL — 0.0% (f) | ||||||
PDG Realty SA | 3,501 | 32 | ||||
|
| |||||
SHORT-TERM INVESTMENTS — 2.5% | ||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (h) (i) | 4,427,757 | 4,427,757 | ||||
State Street Navigator Securities Lending Government Money Market Portfolio (h) (j) | 37,930,341 | 37,930,341 | ||||
|
| |||||
TOTAL SHORT-TERM INVESTMENTS (Cost $42,358,098) | 42,358,098 | |||||
|
| |||||
TOTAL INVESTMENTS — 101.8% | 1,749,903,036 | |||||
|
| |||||
LIABILITIES IN EXCESS OF OTHER | (30,253,971 | ) | ||||
|
| |||||
NET ASSETS — 100.0% | $ | 1,719,649,065 | ||||
|
|
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.9% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(d) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $33,405, representing less than 0.05% of the Fund’s net assets. |
(e) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $56,299,184 representing 3.3% of net assets. |
(f) | Amount is less than 0.05% of net assets. |
(g) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(h) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(i) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(j) | Investment of cash collateral for securities loaned. |
ADR = American Depositary Receipt
ADS = American Depositary Shares
GDR = Global Depositary Receipt
NVDR = Non Voting Depositary Receipt
REIC = Real Estate Investment Company
REIT = Real Estate Investment Trust
At March 31, 2018, open futures contracts purchased were as follows:
Description | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation/ Depreciation | |||||||||||||||
MSCI Taiwan Index Futures | 13 | 04/27/2018 | $ | 528,197 | $ | 530,010 | $ | 1,813 |
During the period ended March 31, 2018, average notional value related to futures contracts was $519,369 or less than 0.5% of net assets.
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
ASSETS: | ||||||||||||||||
INVESTMENTS: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Brazil | $ | 145,835,883 | $ | — | $ | — | $ | 145,835,883 | ||||||||
Chile | 30,236,892 | — | — | 30,236,892 | ||||||||||||
China | 541,604,875 | — | 17,092 | 541,621,967 | ||||||||||||
Colombia | 9,080,559 | — | — | 9,080,559 |
87
Table of Contents
SPDR PORTFOLIO EMERGING MARKETS ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
Czech Republic | $ | 4,750,366 | $ | — | $ | — | $ | 4,750,366 | ||||||||
Egypt | 5,755,218 | — | — | 5,755,218 | ||||||||||||
Greece | 3,089,770 | — | — | 3,089,770 | ||||||||||||
Hong Kong | 21,032,596 | 4,211 | 16,313 | 21,053,120 | ||||||||||||
Hungary | 10,923,729 | — | — | 10,923,729 | ||||||||||||
India | 188,012,885 | 726,606 | 0 | (a) | 188,739,491 | |||||||||||
Indonesia | 47,329,686 | 4,767 | — | 47,334,453 | ||||||||||||
Macau | 2,141 | — | — | 2,141 | ||||||||||||
Malaysia | 45,459,666 | 143 | — | 45,459,809 | ||||||||||||
Mexico | 59,871,142 | — | — | 59,871,142 | ||||||||||||
Monaco | 123,868 | — | — | 123,868 | ||||||||||||
Netherlands | 450,273 | — | — | 450,273 | ||||||||||||
Peru | 15,304,204 | — | — | 15,304,204 | ||||||||||||
Philippines | 23,331,413 | — | — | 23,331,413 | ||||||||||||
Poland | 18,273,169 | — | — | 18,273,169 | ||||||||||||
Qatar | 8,021,548 | — | — | 8,021,548 | ||||||||||||
Russia | 74,673,747 | — | — | 74,673,747 | ||||||||||||
South Africa | 126,441,482 | — | — | 126,441,482 | ||||||||||||
Taiwan | 237,309,258 | — | 0 | (a) | 237,309,258 | |||||||||||
Thailand | 2,250,368 | 55,356,796 | — | 57,607,164 | ||||||||||||
Turkey | 21,406,630 | — | — | 21,406,630 | ||||||||||||
United Arab Emirates | 10,377,909 | 206,661 | — | 10,584,570 | ||||||||||||
United Kingdom | 379 | — | — | 379 | ||||||||||||
Preferred Stocks | ||||||||||||||||
South Africa | 169,271 | — | — | 169,271 | ||||||||||||
Warrants | ||||||||||||||||
Indonesia | 77,635 | — | — | 77,635 | ||||||||||||
Malaysia | 15,529 | — | — | 15,529 | ||||||||||||
South Africa | 226 | — | — | 226 | ||||||||||||
Rights | ||||||||||||||||
Brazil | 32 | — | — | 32 | ||||||||||||
Short-Term Investments | 42,358,098 | — | — | 42,358,098 | ||||||||||||
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TOTAL INVESTMENTS | $ | 1,693,570,447 | $ | 56,299,184 | $ | 33,405 | $ | 1,749,903,036 | ||||||||
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OTHER FINANCIAL INSTRUMENTS: | ||||||||||||||||
Futures Contracts(b) | 1,813 | — | — | 1,813 | ||||||||||||
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TOTAL INVESTMENTS AND OTHER FINANCIAL INSTRUMENTS | $ | 1,693,572,260 | $ | 56,299,184 | $ | 33,405 | $ | 1,749,904,849 | ||||||||
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(a) | Fund held Level 3 securities that were valued at $ 0 at March 31, 2018. |
(b) | Futures Contracts are valued at unrealized appreciation (depreciation). |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | — | $ | — | $ | 90,676,387 | $ | 86,248,630 | $ | — | $ | — | 4,427,757 | $ | 4,427,757 | $ | 12,171 | $ | — | ||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 8,647,800 | 8,647,800 | 84,715,944 | 55,433,403 | — | — | 37,930,341 | 37,930,341 | 133,723 | — | ||||||||||||||||||||||||||||||
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Total | 8,647,800 | $ | 175,392,331 | $ | 141,682,033 | $ | — | $ | — | $ | 42,358,098 | $ | 145,894 | $ | — | |||||||||||||||||||||||||
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88
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.4% | ||||||||
AUSTRALIA — 5.6% | ||||||||
Abacus Property Group REIT | 37,637 | $ | 100,177 | |||||
AGL Energy, Ltd. | 85,846 | 1,427,588 | ||||||
Alumina, Ltd. | 845,312 | 1,530,216 | ||||||
Amcor, Ltd. | 234,554 | 2,549,390 | ||||||
AMP, Ltd. | 475,297 | 1,819,237 | ||||||
Ansell, Ltd. | 74,903 | 1,451,297 | ||||||
APA Group | 348,790 | 2,108,210 | ||||||
Aristocrat Leisure, Ltd. | 151,948 | 2,804,234 | ||||||
Arrium, Ltd. (a) (b) (c) | 163,093 | — | ||||||
Atlassian Corp. PLC Class A (b) | 14,769 | 796,344 | ||||||
Australia & New Zealand Banking Group, Ltd. | 352,176 | 7,255,869 | ||||||
Bendigo & Adelaide Bank, Ltd. | 73,637 | 555,795 | ||||||
BHP Billiton PLC | 240,492 | 4,735,215 | ||||||
BHP Billiton, Ltd. | 402,120 | 8,701,266 | ||||||
BlueScope Steel, Ltd. | 108,085 | 1,251,061 | ||||||
Boral, Ltd. | 87,468 | 499,167 | ||||||
Brambles, Ltd. | 341,914 | 2,617,406 | ||||||
BWP Trust REIT | 521,315 | 1,207,621 | ||||||
Caltex Australia, Ltd. | 34,457 | 829,910 | ||||||
carsales.com, Ltd. | 46,333 | 480,142 | ||||||
Challenger, Ltd. | 84,931 | 751,789 | ||||||
Coca-Cola Amatil, Ltd. | 80,698 | 536,668 | ||||||
Cochlear, Ltd. | 7,071 | 985,072 | ||||||
Commonwealth Bank of Australia | 215,502 | 11,952,901 | ||||||
Computershare, Ltd. | 219,271 | 2,911,400 | ||||||
CSL, Ltd. | 65,087 | 7,761,338 | ||||||
CSR, Ltd. | 305,288 | 1,213,007 | ||||||
Dexus REIT | 140,025 | 1,001,026 | ||||||
Domain Holdings Australia, Ltd. | 20,659 | 51,501 | ||||||
Fairfax Media, Ltd. | 206,740 | 107,041 | ||||||
Fortescue Metals Group, Ltd. | 218,821 | 726,776 | ||||||
Goodman Group REIT | 202,106 | 1,306,864 | ||||||
GPT Group REIT | 225,126 | 818,517 | ||||||
GWA Group, Ltd. | 280,086 | 721,862 | ||||||
Harvey Norman Holdings, Ltd. (c) | 74,717 | 211,480 | ||||||
Healthscope, Ltd. | 264,450 | 392,508 | ||||||
Iluka Resources, Ltd. | 67,578 | 547,385 | ||||||
Incitec Pivot, Ltd. | 213,869 | 575,809 | ||||||
Infigen Energy (b) | 200,416 | 89,932 | ||||||
Ingenia Communities Group REIT | 190,805 | 406,872 | ||||||
Insurance Australia Group, Ltd. | 543,434 | 3,117,971 | ||||||
LendLease Group | 213,547 | 2,835,399 | ||||||
Macquarie Group, Ltd. | 57,471 | 4,536,154 | ||||||
Medibank Pvt, Ltd. | 351,480 | 781,848 | ||||||
Mirvac Group REIT | 230,063 | 379,410 | ||||||
National Australia Bank, Ltd. | 313,303 | 6,846,690 | ||||||
Newcrest Mining, Ltd. | 111,173 | 1,667,984 | ||||||
Oil Search, Ltd. | 149,270 | 818,657 | ||||||
Orica, Ltd. | 38,992 | 531,181 | ||||||
Origin Energy, Ltd. (b) | 287,350 | 1,917,583 | ||||||
Orora, Ltd. | 240,733 | 609,359 | ||||||
OZ Minerals, Ltd. | 61,177 | 421,863 |
Security Description | Shares | Value | ||||||
Perpetual, Ltd. | 38,683 | $ | 1,381,222 | |||||
QBE Insurance Group, Ltd. | 172,483 | 1,274,079 | ||||||
Ramsay Health Care, Ltd. | 16,504 | 788,933 | ||||||
REA Group, Ltd. | 6,670 | 405,256 | ||||||
Santos, Ltd. (b) | 320,309 | 1,245,664 | ||||||
Scentre Group REIT | 667,204 | 1,960,113 | ||||||
SEEK, Ltd. | 45,246 | 645,531 | ||||||
Sonic Healthcare, Ltd. | 77,130 | 1,353,639 | ||||||
South32, Ltd. (d) | 636,745 | 1,572,471 | ||||||
Stockland REIT | 317,797 | 982,378 | ||||||
Suncorp Group, Ltd. | 164,218 | 1,680,352 | ||||||
Sydney Airport | 141,724 | 729,440 | ||||||
Tabcorp Holdings, Ltd. | 393,342 | 1,324,520 | ||||||
Telstra Corp., Ltd. | 553,550 | 1,333,246 | ||||||
TPG Telecom, Ltd. (c) | 30,510 | 128,481 | ||||||
Transurban Group Stapled Security | 238,606 | 2,090,120 | ||||||
Treasury Wine Estates, Ltd. | 159,845 | 2,067,189 | ||||||
Vicinity Centres REIT | 416,983 | 770,831 | ||||||
Wesfarmers, Ltd. | 150,953 | 4,812,170 | ||||||
Westfield Corp. REIT | 257,710 | 1,684,203 | ||||||
Westpac Banking Corp. | 407,780 | 8,951,982 | ||||||
Woodside Petroleum, Ltd. | 130,228 | 2,920,824 | ||||||
Woolworths, Ltd. | 207,566 | 4,185,723 | ||||||
WorleyParsons, Ltd. | 68,748 | 756,721 | ||||||
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| |||||||
145,299,080 | ||||||||
|
| |||||||
AUSTRIA — 0.3% | ||||||||
ams AG | 7,802 | 813,605 | ||||||
ANDRITZ AG | 4,550 | 254,050 | ||||||
Erste Group Bank AG | 45,033 | 2,259,661 | ||||||
OMV AG | 44,685 | 2,598,313 | ||||||
Raiffeisen Bank International AG (b) | 16,904 | 656,737 | ||||||
Voestalpine AG | 39,821 | 2,084,818 | ||||||
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8,667,184 | ||||||||
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BELGIUM — 1.2% | ||||||||
Ackermans & van Haaren NV | 2,867 | 501,395 | ||||||
Aedifica SA REIT | 9,150 | 841,734 | ||||||
Ageas | 58,947 | 3,041,932 | ||||||
Anheuser-Busch InBev SA | 123,856 | 13,599,518 | ||||||
Bekaert SA | 12,462 | 530,600 | ||||||
Colruyt SA | 7,935 | 438,368 | ||||||
Galapagos NV (b) (c) | 5,449 | 544,828 | ||||||
Gimv NV | 2,442 | 147,612 | ||||||
Groupe Bruxelles Lambert SA | 10,315 | 1,177,252 | ||||||
KBC Group NV | 43,122 | 3,750,537 | ||||||
Proximus SADP | 18,161 | 563,520 | ||||||
Solvay SA | 9,478 | 1,315,439 | ||||||
UCB SA | 29,779 | 2,423,758 | ||||||
Umicore SA | 25,156 | 1,328,173 | ||||||
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30,204,666 | ||||||||
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| |||||||
CANADA — 7.7% | ||||||||
AGF Management, Ltd. Class B | 84,585 | 430,388 | ||||||
Agnico Eagle Mines, Ltd. | 29,013 | 1,219,705 | ||||||
Air Canada (b) | 33,522 | 696,051 | ||||||
Alamos Gold, Inc. Class A | 48,765 | 253,423 |
89
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Algonquin Power & Utilities Corp. (c) | 33,918 | $ | 335,957 | |||||
Alimentation Couche-Tard, Inc. Class B (c) | 53,529 | 2,394,429 | ||||||
AltaGas, Ltd. (c) | 18,565 | 343,292 | ||||||
ARC Resources, Ltd. (c) | 47,388 | 516,058 | ||||||
Atco, Ltd. Class I | 9,478 | 304,208 | ||||||
Athabasca Oil Corp. (b) | 43,561 | 40,208 | ||||||
Avigilon Corp. (b) | 8,679 | 181,624 | ||||||
B2Gold Corp. (b) | 141,186 | 386,571 | ||||||
Badger Daylighting, Ltd. (c) | 8,330 | 166,503 | ||||||
Bank of Montreal (c) | 76,708 | 5,790,361 | ||||||
Bank of Nova Scotia | 152,180 | 9,367,465 | ||||||
Barrick Gold Corp. | 153,284 | 1,908,248 | ||||||
BCE, Inc. | 34,805 | 1,496,676 | ||||||
BlackBerry, Ltd. (b) | 82,097 | 943,073 | ||||||
Bombardier, Inc. Class B (b) | 305,140 | 887,551 | ||||||
Brookfield Asset Management, Inc. Class A | 133,963 | 5,218,245 | ||||||
CAE, Inc. | 36,613 | 681,000 | ||||||
Cameco Corp. (c) | 84,844 | 770,621 | ||||||
Canadian Imperial Bank of Commerce (c) | 56,403 | 4,975,101 | ||||||
Canadian National Railway Co. | 101,906 | 7,442,675 | ||||||
Canadian Natural Resources, Ltd. | 165,903 | 5,211,613 | ||||||
Canadian Pacific Railway, Ltd. | 25,265 | 4,452,362 | ||||||
Canadian Solar, Inc. (b) (c) | 5,780 | 94,041 | ||||||
Canadian Tire Corp., Ltd. Class A (c) | 10,705 | 1,406,575 | ||||||
Canadian Utilities, Ltd. Class A | 14,866 | 396,542 | ||||||
Canadian Western Bank (c) | 56,355 | 1,444,664 | ||||||
CCL Industries, Inc. Class B | 15,327 | 773,215 | ||||||
Cenovus Energy, Inc. | 97,732 | 831,584 | ||||||
CES Energy Solutions Corp. | 39,821 | 181,615 | ||||||
CGI Group, Inc. Class A (b) | 53,956 | 3,109,506 | ||||||
CI Financial Corp. (c) | 30,626 | 655,635 | ||||||
Cineplex, Inc. (c) | 7,935 | 192,951 | ||||||
Constellation Software, Inc. | 2,513 | 1,703,889 | ||||||
Crescent Point Energy Corp. (c) | 90,365 | 613,998 | ||||||
CT Real Estate Investment Trust | 37,015 | 381,849 | ||||||
Detour Gold Corp. (b) | 24,454 | 247,338 | ||||||
Dollarama, Inc. | 14,428 | 1,752,287 | ||||||
ECN Capital Corp. | 40,898 | 109,125 | ||||||
Eldorado Gold Corp. (b) (c) | 65,944 | 55,241 | ||||||
Element Fleet Management Corp. (c) | 48,961 | 157,602 | ||||||
Emera, Inc. | 18,583 | 587,507 | ||||||
Empire Co., Ltd. | 20,462 | 410,430 | ||||||
Enbridge Income Fund Holdings, Inc. (c) | 12,356 | 267,582 | ||||||
Enbridge, Inc. | 201,959 | 6,347,395 | ||||||
Encana Corp. | 119,855 | 1,317,313 | ||||||
Enerplus Corp. | 19,858 | 223,186 | ||||||
Exchange Income Corp. (c) | 18,178 | 435,116 | ||||||
Fairfax Financial Holdings, Ltd. | 4,888 | 2,476,018 | ||||||
Finning International, Inc. | 17,731 | 427,304 | ||||||
Firm Capital Mortgage Investment Corp. | 73,885 | 742,145 |
Security Description | Shares | Value | ||||||
First Capital Realty, Inc. | 17,025 | $ | 268,729 | |||||
First Majestic Silver Corp. (b) (c) | 34,892 | 213,533 | ||||||
First Quantum Minerals, Ltd. | 84,967 | 1,192,207 | ||||||
Fortis, Inc. (c) | 51,459 | 1,735,856 | ||||||
Franco-Nevada Corp. (c) | 21,596 | 1,472,397 | ||||||
George Weston, Ltd. | 5,862 | 471,597 | ||||||
Gildan Activewear, Inc. | 29,425 | 849,257 | ||||||
Goldcorp, Inc. | 119,203 | 1,644,849 | ||||||
Gran Tierra Energy, Inc. (b) | 63,466 | 176,233 | ||||||
Great-West Lifeco, Inc. | 38,571 | 983,684 | ||||||
H&R Real Estate Investment Trust | 17,025 | 277,708 | ||||||
Home Capital Group, Inc. (c) | 8,692 | 91,420 | ||||||
Husky Energy, Inc. | 75,906 | 1,085,675 | ||||||
Hydro One, Ltd. (e) | 21,116 | 342,638 | ||||||
IAMGOLD Corp. (b) | 107,269 | 555,794 | ||||||
Imperial Oil, Ltd. (c) | 31,416 | 831,424 | ||||||
Industrial Alliance Insurance & Financial Services, Inc. | 12,858 | 528,582 | ||||||
Innergex Renewable Energy, Inc. (c) | 64,213 | 655,951 | ||||||
Intact Financial Corp. | 17,845 | 1,339,984 | ||||||
Inter Pipeline, Ltd. (c) | 42,720 | 740,911 | ||||||
International Petroleum Corp. (b) | 9,497 | 39,293 | ||||||
K-Bro Linen, Inc. | 17,731 | 498,270 | ||||||
Keyera Corp. | 21,874 | 568,546 | ||||||
Kinross Gold Corp. (b) | 139,393 | 550,328 | ||||||
Linamar Corp. | 6,280 | 342,824 | ||||||
Loblaw Cos., Ltd. (c) | 24,092 | 1,216,326 | ||||||
Lundin Mining Corp. | 93,759 | 614,515 | ||||||
Magna International, Inc. | 49,850 | 2,805,984 | ||||||
Manulife Financial Corp. | 264,033 | 4,898,716 | ||||||
Maxar Technologies, Ltd. | 5,780 | 267,111 | ||||||
Methanex Corp. | 10,713 | 648,555 | ||||||
Metro, Inc. (c) | 31,175 | 993,828 | ||||||
National Bank of Canada | 47,562 | 2,237,083 | ||||||
New Gold, Inc. (b) | 75,931 | 196,711 | ||||||
Nutrien, Ltd. (c) | 113,554 | 5,363,043 | ||||||
Obsidian Energy, Ltd. (b) (c) | 64,770 | 64,808 | ||||||
Onex Corp. | 10,355 | 746,315 | ||||||
Open Text Corp. (c) | 27,729 | 963,982 | ||||||
Pan American Silver Corp. | 18,976 | 305,706 | ||||||
Parex Resources, Inc. (b) | 46,242 | 649,917 | ||||||
Pembina Pipeline Corp. | 49,962 | 1,557,861 | ||||||
Pengrowth Energy Corp. (b) (c) | 58,394 | 37,593 | ||||||
Peyto Exploration & Development Corp. (c) | 16,900 | 141,571 | ||||||
Power Corp. of Canada | 47,388 | 1,080,634 | ||||||
Power Financial Corp. | 39,452 | 987,180 | ||||||
PrairieSky Royalty, Ltd. (c) | 26,077 | 569,780 | ||||||
Precision Drilling Corp. (b) | 39,311 | 109,159 | ||||||
Pure Industrial Real Estate Trust | 106,847 | 666,317 | ||||||
Quebecor, Inc. Class B | 21,000 | 401,187 | ||||||
Restaurant Brands International, Inc. | 28,982 | 1,648,214 | ||||||
RioCan Real Estate Investment Trust | 19,822 | 363,461 |
90
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Ritchie Bros Auctioneers, Inc. (c) | 13,609 | $ | 427,508 | |||||
Rogers Communications, Inc. Class B | 71,672 | 3,198,764 | ||||||
Royal Bank of Canada | 179,931 | 13,889,264 | ||||||
Russel Metals, Inc. | 7,497 | 163,169 | ||||||
Saputo, Inc. | 33,312 | 1,068,413 | ||||||
Secure Energy Services, Inc. (c) | 24,380 | 138,801 | ||||||
SEMAFO, Inc. (b) | 58,556 | 168,503 | ||||||
Seven Generations Energy, Ltd. Class A (b) | 22,116 | 274,467 | ||||||
Shaw Communications, Inc. Class B | 103,594 | 1,994,340 | ||||||
Sherritt International Corp. (b) (c) | 92,471 | 81,049 | ||||||
Shopify, Inc. Class A (b) | 7,378 | 917,464 | ||||||
SNC-Lavalin Group, Inc. (c) | 25,254 | 1,108,101 | ||||||
Stantec, Inc. (c) | 9,873 | 243,446 | ||||||
Stars Group, Inc. (b) | 23,579 | 650,354 | ||||||
Sun Life Financial, Inc. (c) | 98,187 | 4,029,532 | ||||||
Suncor Energy, Inc. | 244,513 | 8,437,761 | ||||||
Teck Resources, Ltd. Class B | 74,644 | 1,921,030 | ||||||
TELUS Corp. | 59,751 | 2,096,673 | ||||||
Thomson Reuters Corp. | 53,875 | 2,080,618 | ||||||
TMX Group, Ltd. | 6,237 | 361,618 | ||||||
Toromont Industries, Ltd. | 9,873 | 428,309 | ||||||
Toronto-Dominion Bank | 249,991 | 14,176,337 | ||||||
Tourmaline Oil Corp. (c) | 16,133 | 273,419 | ||||||
TransCanada Corp. (c) | 112,647 | 4,655,290 | ||||||
Trinidad Drilling, Ltd. (b) (c) | 28,942 | 39,959 | ||||||
Turquoise Hill Resources, Ltd. (b) | 120,970 | 369,689 | ||||||
Valeant Pharmaceuticals International, Inc. (b) | 42,736 | 679,864 | ||||||
Vermilion Energy, Inc. (c) | 14,122 | 455,015 | ||||||
Waste Connections, Inc. | 32,664 | 2,342,028 | ||||||
West Fraser Timber Co., Ltd. | 5,299 | 351,869 | ||||||
Wheaton Precious Metals Corp. | 50,670 | 1,031,675 | ||||||
Whitecap Resources, Inc. (c) | 45,837 | 280,159 | ||||||
Yamana Gold, Inc. | 148,518 | 410,102 | ||||||
Yellow Pages, Ltd. (b) (c) | 14,422 | 78,193 | ||||||
|
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199,571,091 | ||||||||
|
| |||||||
CHILE — 0.0% (f) | ||||||||
Antofagasta PLC | 43,660 | 564,078 | ||||||
|
| |||||||
CHINA — 0.1% | ||||||||
APT Satellite Holdings, Ltd. | 460,000 | 211,587 | ||||||
China Everbright Water, Ltd. | 292,515 | 94,806 | ||||||
Chong Hing Bank, Ltd. | 1,385 | 2,760 | ||||||
ENN Energy Holdings, Ltd. | 38,000 | 339,411 | ||||||
Fosun International, Ltd. | 247,000 | 535,020 | ||||||
HC International, Inc. | 184,500 | 133,762 | ||||||
Sino Grandness Food Industry Group, Ltd. (b) (c) | 917,745 | 137,176 | ||||||
|
| |||||||
1,454,522 | ||||||||
|
| |||||||
DENMARK — 1.4% | ||||||||
AP Moeller - Maersk A/S Class B | 817 | 1,259,557 |
Security Description | Shares | Value | ||||||
AP Moller - Maersk A/S Class A | 408 | $ | 596,090 | |||||
Carlsberg A/S Class B | 13,208 | 1,570,778 | ||||||
Chr Hansen Holding A/S | 12,360 | 1,062,476 | ||||||
Coloplast A/S Class B | 11,107 | 935,708 | ||||||
Danske Bank A/S | 127,307 | 4,734,445 | ||||||
DONG Energy A/S (e) | 25,653 | 1,659,155 | ||||||
DSV A/S | 22,345 | 1,748,624 | ||||||
FLSmidth & Co. A/S | 23,358 | 1,498,004 | ||||||
Genmab A/S (b) | 6,949 | 1,488,195 | ||||||
GN Store Nord A/S | 18,207 | 641,055 | ||||||
ISS A/S | 22,788 | 840,700 | ||||||
Jyske Bank A/S | 6,122 | 361,407 | ||||||
Novo Nordisk A/S Class B | 249,053 | 12,224,796 | ||||||
Novozymes A/S Class B | 27,746 | 1,430,126 | ||||||
Pandora A/S | 15,666 | 1,679,580 | ||||||
SimCorp A/S | 4,999 | 346,249 | ||||||
TDC A/S (b) | 33,166 | 274,263 | ||||||
Vestas Wind Systems A/S | 34,349 | 2,435,810 | ||||||
|
| |||||||
36,787,018 | ||||||||
|
| |||||||
FINLAND — 0.9% | ||||||||
Amer Sports Oyj (b) | 17,024 | 524,890 | ||||||
Caverion Oyj (b) (c) | 33,250 | 250,876 | ||||||
Elisa Oyj (c) | 19,408 | 877,661 | ||||||
Fortum Oyj (c) | 57,075 | 1,224,880 | ||||||
Kemira Oyj | 12,524 | 160,187 | ||||||
Kesko Oyj Class B | 9,543 | 546,450 | ||||||
Kone Oyj Class B | 48,756 | 2,430,284 | ||||||
Konecranes Oyj | 8,730 | 378,358 | ||||||
Metso Oyj (c) | 16,088 | 506,715 | ||||||
Neste Oyj (c) | 16,108 | 1,121,270 | ||||||
Nokia Oyj (d) | 503,113 | 2,775,110 | ||||||
Nokia Oyj (d) | 270,199 | 1,487,727 | ||||||
Nokian Renkaat Oyj (c) | 14,121 | 640,832 | ||||||
Orion Oyj Class B | 12,805 | 391,659 | ||||||
Sampo Oyj Class A | 60,460 | 3,365,387 | ||||||
Sanoma Oyj | 10,027 | 117,459 | ||||||
Stockmann Oyj Abp Class B (b) (c) | 4,521 | 21,184 | ||||||
Stora Enso Oyj Class R (c) | 71,372 | 1,310,070 | ||||||
Tikkurila Oyj | 4,537 | 87,157 | ||||||
UPM-Kymmene Oyj (c) | 66,740 | 2,470,614 | ||||||
Valmet Oyj (c) | 16,691 | 334,187 | ||||||
Wartsila Oyj Abp | 57,084 | 1,260,176 | ||||||
YIT Oyj (c) | 15,819 | 132,294 | ||||||
|
| |||||||
22,415,427 | ||||||||
|
| |||||||
FRANCE — 8.1% | ||||||||
Accor SA | 44,850 | 2,418,713 | ||||||
Aeroports de Paris | 4,102 | 892,938 | ||||||
Air Liquide SA | 50,572 | 6,187,258 | ||||||
Airbus SE | 79,471 | 9,167,772 | ||||||
Albioma SA | 40,495 | 959,202 | ||||||
Alstom SA | 39,917 | 1,797,256 | ||||||
Arkema SA | 5,453 | 710,876 | ||||||
Atos SE | 10,404 | 1,421,565 | ||||||
AXA SA | 246,473 | 6,547,498 | ||||||
BNP Paribas SA | 139,116 | 10,294,598 | ||||||
Bollore SA | 66,354 | 353,352 |
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SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Bollore SA (b) (c) | 347 | $ | 1,839 | |||||
Bourbon Corp. (c) | 49,157 | 287,769 | ||||||
Bouygues SA | 41,055 | 2,055,509 | ||||||
Bureau Veritas SA | 28,198 | 732,080 | ||||||
Capgemini SE | 19,869 | 2,472,913 | ||||||
Carrefour SA (c) | 115,636 | 2,396,322 | ||||||
Casino Guichard Perrachon SA (c) | 17,737 | 868,410 | ||||||
CGG SA (b) | 20,787 | 41,185 | ||||||
Christian Dior SE | 339 | 133,789 | ||||||
Cie de Saint-Gobain | 83,303 | 4,391,017 | ||||||
Cie Generale des Etablissements Michelin SCA | 19,434 | 2,865,720 | ||||||
Cie Plastic Omnium SA | 9,117 | 436,168 | ||||||
Credit Agricole SA | 151,738 | 2,464,252 | ||||||
Danone SA | 78,775 | 6,368,019 | ||||||
Dassault Systemes SE | 12,810 | 1,739,284 | ||||||
Edenred | 46,885 | 1,628,362 | ||||||
Eiffage SA | 6,673 | 758,964 | ||||||
Electricite de France SA | 52,706 | 762,289 | ||||||
Elis SA | 23,193 | 573,331 | ||||||
Engie SA | 206,357 | 3,440,100 | ||||||
Essilor International Cie Generale d’Optique SA | 25,641 | 3,456,192 | ||||||
Eutelsat Communications SA | 10,805 | 213,945 | ||||||
Faurecia SA | 7,051 | 569,902 | ||||||
Fonciere Des Regions REIT | 6,601 | 727,800 | ||||||
Gecina SA REIT | 5,366 | 931,172 | ||||||
Getlink SE | 51,525 | 735,069 | ||||||
Groupe Fnac SA (b) (d) | 3,652 | 390,978 | ||||||
Groupe Fnac SA (b) (d) | 1,233 | 130,563 | ||||||
Hermes International | 4,543 | 2,690,242 | ||||||
Iliad SA | 2,862 | 591,332 | ||||||
Ingenico Group SA | 6,560 | 531,508 | ||||||
Ipsen SA | 4,507 | 699,241 | ||||||
Kering SA | 9,537 | 4,560,268 | ||||||
Klepierre SA REIT | 24,027 | 967,750 | ||||||
Lagardere SCA | 39,331 | 1,122,213 | ||||||
Legrand SA | 34,552 | 2,706,855 | ||||||
L’Oreal SA | 26,009 | 5,864,849 | ||||||
LVMH Moet Hennessy Louis Vuitton SE (c) | 34,060 | 10,480,554 | ||||||
Natixis SA | 59,222 | 484,930 | ||||||
Nexans SA | 12,377 | 639,318 | ||||||
Orange SA | 264,064 | 4,476,806 | ||||||
Orpea | 5,791 | 735,353 | ||||||
Pernod Ricard SA | 26,483 | 4,405,110 | ||||||
Peugeot SA | 76,281 | 1,834,068 | ||||||
Publicis Groupe SA | 42,661 | 2,968,563 | ||||||
Renault SA | 32,286 | 3,911,135 | ||||||
Rexel SA | 37,384 | 632,180 | ||||||
Rubis SCA | 11,128 | 802,671 | ||||||
Safran SA | 43,244 | 4,572,730 | ||||||
Sanofi | 152,181 | 12,227,154 | ||||||
Schneider Electric SE (d) | 73,923 | 6,485,821 | ||||||
Schneider Electric SE (d) | 2,000 | 175,746 | ||||||
SCOR SE | 23,162 | 947,438 | ||||||
SEB SA | 3,318 | 633,316 |
Security Description | Shares | Value | ||||||
Societe BIC SA | 3,364 | $ | 334,494 | |||||
Societe Generale SA | 105,255 | 5,716,420 | ||||||
Sodexo SA | 12,802 | 1,289,478 | ||||||
Suez | 49,302 | 713,663 | ||||||
Technicolor SA | 60,014 | 101,413 | ||||||
Teleperformance | 7,360 | 1,140,514 | ||||||
Television Francaise 1 | 14,946 | 202,746 | ||||||
Thales SA | 12,839 | 1,562,268 | ||||||
TOTAL SA | 317,178 | 17,994,460 | ||||||
Ubisoft Entertainment SA (b) | 20,044 | 1,689,095 | ||||||
Unibail-Rodamco SE REIT (c) | 11,980 | 2,735,294 | ||||||
Unibail-Rodamco SE REIT | 390 | 89,045 | ||||||
Valeo SA | 48,566 | 3,203,859 | ||||||
Vallourec SA (b) (c) | 62,993 | 333,439 | ||||||
Veolia Environnement SA | 108,505 | 2,568,148 | ||||||
Vinci SA | 59,523 | 5,849,031 | ||||||
Vivendi SA | 159,631 | 4,122,767 | ||||||
Wendel SA | 3,683 | 573,893 | ||||||
|
| |||||||
208,691,149 | ||||||||
|
| |||||||
GERMANY — 7.8% | ||||||||
1&1 Drillisch AG | 5,434 | 365,895 | ||||||
Aareal Bank AG | 6,282 | 299,302 | ||||||
adidas AG | 26,045 | 6,298,986 | ||||||
Allianz SE | 57,181 | 12,897,436 | ||||||
Aurubis AG | 3,668 | 308,017 | ||||||
Axel Springer SE | 7,856 | 656,996 | ||||||
BASF SE | 114,818 | 11,645,504 | ||||||
Bayer AG | 105,584 | 11,919,164 | ||||||
Bayerische Motoren Werke AG | 39,855 | 4,320,733 | ||||||
Bayerische Motoren Werke AG Preference Shares | 6,958 | 651,638 | ||||||
Bechtle AG | 3,344 | 270,610 | ||||||
Beiersdorf AG | 12,778 | 1,446,097 | ||||||
Bilfinger SE | 16,569 | 753,963 | ||||||
Brenntag AG | 19,804 | 1,176,393 | ||||||
CECONOMY AG | 20,663 | 237,606 | ||||||
Commerzbank AG (b) | 116,453 | 1,510,109 | ||||||
Continental AG | 14,024 | 3,868,597 | ||||||
Covestro AG (e) | 10,701 | 1,051,008 | ||||||
CTS Eventim AG & Co. KGaA | 5,889 | 275,653 | ||||||
Daimler AG | 124,233 | 10,537,789 | ||||||
Delivery Hero AG (b) (e) | 7,908 | 382,218 | ||||||
Deutsche Bank AG | 257,708 | 3,589,688 | ||||||
Deutsche Boerse AG | 29,449 | 4,005,696 | ||||||
Deutsche EuroShop AG | 7,925 | 290,448 | ||||||
Deutsche Lufthansa AG | 22,762 | 726,161 | ||||||
Deutsche Post AG | 150,771 | 6,586,324 | ||||||
Deutsche Telekom AG | 427,216 | 6,961,706 | ||||||
Deutsche Wohnen SE | 42,939 | 2,001,444 | ||||||
DMG Mori AG | 9,108 | 521,989 | ||||||
Duerr AG | 2,961 | 324,611 | ||||||
E.ON SE | 257,030 | 2,851,298 | ||||||
Evonik Industries AG | 15,367 | 541,271 | ||||||
Evotec AG (b) | 14,856 | 290,503 | ||||||
Fielmann AG | 3,240 | 261,796 | ||||||
Fraport AG Frankfurt Airport Services Worldwide | 6,604 | 650,567 | ||||||
Freenet AG | 16,491 | 501,155 |
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SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Fresenius Medical Care AG & Co. KGaA | 27,365 | $ | 2,792,680 | |||||
Fresenius SE & Co. KGaA | 50,484 | 3,853,167 | ||||||
Fuchs Petrolub SE Preference Shares | 8,768 | 475,545 | ||||||
GEA Group AG | 22,391 | 951,423 | ||||||
Gerresheimer AG | 5,366 | 439,849 | ||||||
Grand City Properties SA | 13,217 | 315,671 | ||||||
GRENKE AG | 3,242 | 343,296 | ||||||
Hamborner REIT AG | 59,319 | 687,951 | ||||||
Hannover Rueck SE | 7,554 | 1,030,293 | ||||||
HeidelbergCement AG | 18,140 | 1,779,851 | ||||||
Hella GmbH & Co. KGaA | 5,464 | 358,843 | ||||||
Henkel AG & Co. KGaA Preference Shares | 25,201 | 3,311,651 | ||||||
Henkel AG & Co. KGaA | 15,791 | 1,986,724 | ||||||
HOCHTIEF AG | 2,069 | 386,010 | ||||||
HUGO BOSS AG | 8,294 | 721,779 | ||||||
Infineon Technologies AG | 143,900 | 3,847,447 | ||||||
Innogy SE (e) | 17,328 | 819,828 | ||||||
Jungheinrich AG Preference Shares | 5,889 | 260,444 | ||||||
KION Group AG | 9,619 | 895,999 | ||||||
Krones AG | 1,996 | 268,553 | ||||||
KS AG | 26,866 | 774,485 | ||||||
Lanxess AG | 11,635 | 890,039 | ||||||
LEG Immobilien AG | 7,466 | 838,690 | ||||||
Leoni AG | 4,108 | 262,312 | ||||||
Linde AG (b) | 23,280 | 4,898,750 | ||||||
MAN SE | 11,982 | 1,396,242 | ||||||
Merck KGaA | 26,478 | 2,536,734 | ||||||
METRO AG | 20,663 | 365,684 | ||||||
MorphoSys AG | 2,848 | 290,717 | ||||||
MTU Aero Engines AG | 6,560 | 1,103,678 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 18,696 | 4,342,282 | ||||||
Norma Group SE | 6,246 | 467,044 | ||||||
OSRAM Licht AG | 9,992 | 734,371 | ||||||
Porsche Automobil Holding SE Preference Shares | 22,283 | 1,849,821 | ||||||
ProSiebenSat.1 Media SE | 28,194 | 977,125 | ||||||
Puma SE | 356 | 173,598 | ||||||
QIAGEN NV (b) | 29,405 | 949,298 | ||||||
Rational AG | 412 | 258,923 | ||||||
Rheinmetall AG | 5,401 | 766,203 | ||||||
RWE AG (b) | 68,520 | 1,690,443 | ||||||
Salzgitter AG | 12,889 | 658,473 | ||||||
SAP SE | 124,386 | 12,998,386 | ||||||
Sartorius AG Preference Shares | 5,854 | 817,148 | ||||||
Schaeffler AG Preference Shares | 20,723 | 319,469 | ||||||
Scout24 AG (e) | 9,127 | 424,748 | ||||||
Siemens AG | 106,173 | 13,517,322 | ||||||
Siltronic AG (b) | 2,519 | 429,847 | ||||||
Software AG | 6,306 | 329,761 | ||||||
Stabilus SA | 2,967 | 282,977 | ||||||
STADA Arzneimittel AG | 9,534 | 980,712 | ||||||
Symrise AG | 15,668 | 1,259,441 |
Security Description | Shares | Value | ||||||
TAG Immobilien AG | 18,213 | $ | 377,652 | |||||
Telefonica Deutschland Holding AG | 64,642 | 303,372 | ||||||
ThyssenKrupp AG | 65,857 | 1,716,268 | ||||||
TUI AG | 60,579 | 1,298,498 | ||||||
Uniper SE | 25,670 | 781,364 | ||||||
United Internet AG | 15,696 | 986,421 | ||||||
Volkswagen AG | 4,934 | 986,670 | ||||||
Volkswagen AG Preference Shares | 22,783 | 4,521,816 | ||||||
Vonovia SE | 56,386 | 2,791,190 | ||||||
Wacker Chemie AG | 1,994 | 327,017 | ||||||
Wirecard AG | 17,029 | 2,008,864 | ||||||
Zalando SE (b) (e) | 14,102 | 767,964 | ||||||
|
| |||||||
200,957,194 | ||||||||
|
| |||||||
HONG KONG — 2.9% | ||||||||
AIA Group, Ltd. | 1,576,600 | 13,338,715 | ||||||
ASM Pacific Technology, Ltd. | 37,600 | 525,077 | ||||||
Bank of East Asia, Ltd. | 168,555 | 672,218 | ||||||
BOC Hong Kong Holdings, Ltd. | 432,500 | 2,105,106 | ||||||
China Water Industry Group, Ltd. (b) (c) | 1,852,000 | 391,718 | ||||||
CK Asset Holdings, Ltd. | 408,348 | 3,426,183 | ||||||
CK Hutchison Holdings, Ltd. | 408,348 | 4,885,628 | ||||||
CK Infrastructure Holdings, Ltd. | 26,000 | 212,517 | ||||||
CLP Holdings, Ltd. | 217,500 | 2,214,269 | ||||||
Dah Sing Banking Group, Ltd. | 342,125 | 746,299 | ||||||
Dah Sing Financial Holdings, Ltd. | 171,285 | 1,082,494 | ||||||
Dairy Farm International Holdings, Ltd. | 40,200 | 319,590 | ||||||
Esprit Holdings, Ltd. (b) (c) | 453,319 | 154,220 | ||||||
Galaxy Entertainment Group, Ltd. | 386,000 | 3,504,262 | ||||||
Hang Lung Group, Ltd. | 402,000 | 1,313,826 | ||||||
Hang Lung Properties, Ltd. | 353,000 | 822,196 | ||||||
Hang Seng Bank, Ltd. | 86,800 | 2,008,445 | ||||||
Henderson Land Development Co., Ltd. | 63,405 | 412,828 | ||||||
HK Electric Investments & HK Electric Investments, Ltd. (c) (e) | 239,000 | 231,439 | ||||||
HKT Trust & HKT, Ltd. | 385,900 | 485,307 | ||||||
Hong Kong & China Gas Co., Ltd. | 1,157,506 | 2,377,457 | ||||||
Hong Kong Exchanges & Clearing, Ltd. | 162,562 | 5,285,963 | ||||||
Hongkong Land Holdings, Ltd. | 287,500 | 1,980,875 | ||||||
Hopewell Highway Infrastructure, Ltd. | 6,975 | 4,257 | ||||||
Hysan Development Co., Ltd. | 26,841 | 141,929 | ||||||
Jardine Matheson Holdings, Ltd. | 39,405 | 2,428,136 | ||||||
Jardine Strategic Holdings, Ltd. | 34,800 | 1,334,232 | ||||||
Kerry Properties, Ltd. | 29,000 | 130,621 | ||||||
Li & Fung, Ltd. | 942,000 | 460,900 | ||||||
Link REIT | 386,351 | 3,298,232 | ||||||
Melco International Development, Ltd. | 34,000 | 98,773 |
93
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SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Melco Resorts & Entertainment, Ltd. ADR | 18,585 | $ | 538,593 | |||||
MTR Corp., Ltd. | 200,179 | 1,076,355 | ||||||
New World Development Co., Ltd. | 786,411 | 1,110,232 | ||||||
Noble Group, Ltd. (b) (c) | 47,740 | 2,840 | ||||||
NWS Holdings, Ltd. | 72,000 | 130,637 | ||||||
Pacific Basin Shipping, Ltd. (b) | 3,292,000 | 880,853 | ||||||
PCCW, Ltd. | 455,000 | 263,204 | ||||||
Power Assets Holdings, Ltd. | 195,500 | 1,742,444 | ||||||
Sands China, Ltd. | 328,400 | 1,765,794 | ||||||
Shangri-La Asia, Ltd. | 60,000 | 120,790 | ||||||
Sino Land Co., Ltd. | 897,938 | 1,453,030 | ||||||
SJM Holdings, Ltd. | 57,000 | 49,532 | ||||||
Sun Hung Kai Properties, Ltd. | 273,509 | 4,321,333 | ||||||
Sundart Holdings, Ltd. | 82,000 | 44,927 | ||||||
Swire Pacific, Ltd. Class A | 25,500 | 257,167 | ||||||
Swire Properties, Ltd. | 153,800 | 538,907 | ||||||
Techtronic Industries Co., Ltd. | 193,500 | 1,127,967 | ||||||
VTech Holdings, Ltd. | 33,600 | 424,265 | ||||||
Wharf Holdings, Ltd. | 359,000 | 1,232,757 | ||||||
Wharf Real Estate Investment Co., Ltd. (b) | 133,000 | 865,958 | ||||||
Wheelock & Co., Ltd. | 34,000 | 248,449 | ||||||
Yue Yuen Industrial Holdings, Ltd. | 34,000 | 134,946 | ||||||
|
| |||||||
74,724,692 | ||||||||
|
| |||||||
IRELAND — 0.5% | ||||||||
AerCap Holdings NV (b) | 10,379 | 526,423 | ||||||
Bank of Ireland Group PLC (b) | 114,769 | 1,003,567 | ||||||
C&C Group PLC | 50,952 | 166,684 | ||||||
CRH PLC | 101,958 | 3,457,088 | ||||||
Glanbia PLC | 15,675 | 269,891 | ||||||
Green REIT PLC | 83,993 | 156,394 | ||||||
Greencore Group PLC | 102,788 | 191,125 | ||||||
Irish Bank Resolution Corp., Ltd. (a) | 5,635 | — | ||||||
James Hardie Industries PLC | 53,147 | 932,328 | ||||||
Kerry Group PLC Class A | 19,387 | 1,964,672 | ||||||
Kingspan Group PLC | 18,145 | 767,658 | ||||||
Paddy Power Betfair PLC | 10,703 | 1,098,460 | ||||||
Ryanair Holdings PLC ADR (b) | 15,697 | 1,928,376 | ||||||
Smurfit Kappa Group PLC | 24,384 | 987,227 | ||||||
UDG Healthcare PLC | 31,019 | 377,697 | ||||||
|
| |||||||
13,827,590 | ||||||||
|
| |||||||
ISRAEL — 0.5% | ||||||||
Bank Hapoalim BM | 136,890 | 937,333 | ||||||
Bank Leumi Le-Israel BM | 181,070 | 1,088,736 | ||||||
Bezeq The Israeli Telecommunication Corp., Ltd. | 269,370 | 343,728 | ||||||
Check Point Software Technologies, Ltd. (b) | 18,246 | 1,812,558 | ||||||
Israel Chemicals, Ltd. | 55,828 | 235,343 | ||||||
Mazor Robotics, Ltd. (b) | 19,805 | 581,032 | ||||||
Nice, Ltd. | 7,900 | 732,879 |
Security Description | Shares | Value | ||||||
Rami Levy Chain Stores Hashikma Marketing 2006, Ltd. | 20,458 | $ | 1,026,731 | |||||
Reit 1, Ltd. | 191,498 | 784,897 | ||||||
Shufersal, Ltd. | 294,567 | 1,873,529 | ||||||
Strauss Group, Ltd. | 84,140 | 1,809,411 | ||||||
Teva Pharmaceutical Industries, Ltd. ADR | 136,185 | 2,327,402 | ||||||
|
| |||||||
13,553,579 | ||||||||
|
| |||||||
ITALY — 2.0% | ||||||||
A2A SpA | 185,526 | 354,689 | ||||||
Assicurazioni Generali SpA | 174,572 | 3,354,648 | ||||||
Atlantia SpA | 51,724 | 1,599,861 | ||||||
Azimut Holding SpA | 12,430 | 266,682 | ||||||
Banca Generali SpA | 9,126 | 294,059 | ||||||
Banca IFIS SpA | 24,403 | 938,777 | ||||||
Banca Monte dei Paschi di Siena SpA (b) (c) | 3,304 | 10,451 | ||||||
Banca Popolare di Sondrio SCPA | 92,821 | 367,354 | ||||||
Banco BPM SpA (b) | 127,335 | 441,151 | ||||||
Biesse SpA | 1,295 | 76,766 | ||||||
BPER Banca (c) | 67,362 | 375,289 | ||||||
Brembo SpA | 56,003 | 863,696 | ||||||
Cairo Communication SpA (c) | 64,344 | 288,837 | ||||||
Credito Valtellinese SpA (b) | 1,163,888 | 164,898 | ||||||
Davide Campari-Milano SpA | 60,561 | 458,058 | ||||||
Enel SpA | 900,114 | 5,501,818 | ||||||
Eni SpA | 331,868 | 5,831,619 | ||||||
Esprinet SpA (c) | 50,675 | 271,104 | ||||||
Falck Renewables SpA | 14,886 | 38,446 | ||||||
Ferrari NV | 16,451 | 1,973,455 | ||||||
Immobiliare Grande Distribuzione SIIQ SpA | 49,391 | 460,922 | ||||||
Interpump Group SpA | 24,928 | 841,861 | ||||||
Intesa Sanpaolo SpA | 1,713,696 | 6,224,766 | ||||||
Iren SpA | 377,285 | 1,182,282 | ||||||
Italgas SpA | 40,912 | 244,333 | ||||||
Leonardo SpA | 98,147 | 1,131,982 | ||||||
Luxottica Group SpA | 17,780 | 1,104,270 | ||||||
Mediaset SpA (b) | 91,195 | 349,030 | ||||||
Mediobanca Banca di Credito Finanziario SpA | 52,995 | 622,300 | ||||||
Moncler SpA | 20,206 | 767,876 | ||||||
PRADA SpA (c) | 46,600 | 215,238 | ||||||
Prysmian SpA | 22,795 | 714,878 | ||||||
Recordati SpA | 19,807 | 730,302 | ||||||
Reply SpA | 17,309 | 954,531 | ||||||
Saipem SpA (b) | 124,670 | 487,882 | ||||||
Salvatore Ferragamo SpA (c) | 8,604 | 237,240 | ||||||
Snam SpA | 272,583 | 1,251,437 | ||||||
Societa Cattolica di Assicurazioni SC | 63,403 | 674,494 | ||||||
Sogefi SpA (b) (c) | 48,421 | 174,126 | ||||||
Telecom Italia SpA/Milano (b) (d) | 1,823,528 | 1,729,096 | ||||||
Telecom Italia SpA/Milano (d) | 769,107 | 639,798 |
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SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Terna Rete Elettrica Nazionale SpA | 178,700 | $ | 1,043,708 | |||||
UniCredit SpA (b) | 248,453 | 5,190,854 | ||||||
Unione di Banche Italiane SpA | 129,656 | 591,747 | ||||||
Unipol Gruppo Finanziario SpA | 45,917 | 224,642 | ||||||
UnipolSai Assicurazioni SpA | 116,733 | 277,509 | ||||||
Yoox Net-A-Porter Group SpA (b) | 9,116 | 423,788 | ||||||
Zignago Vetro SpA | 49,725 | 507,581 | ||||||
|
| |||||||
52,470,131 | ||||||||
|
| |||||||
JAPAN — 23.3% | ||||||||
Acom Co., Ltd. (b) (c) | 77,400 | 343,515 | ||||||
Activia Properties, Inc. REIT | 20 | 89,234 | ||||||
Advance Residence Investment Corp. REIT | 38 | 96,331 | ||||||
Advantest Corp. (c) | 77,400 | 1,597,489 | ||||||
Aeon Co., Ltd. (c) | 165,820 | 2,930,500 | ||||||
AEON Financial Service Co., Ltd. (c) | 3,500 | 80,235 | ||||||
AEON REIT Investment Corp. | 58 | 61,190 | ||||||
Air Water, Inc. | 35,100 | 677,577 | ||||||
Aisin Seiki Co., Ltd. | 35,800 | 1,932,224 | ||||||
Ajinomoto Co., Inc. | 78,000 | 1,407,080 | ||||||
Akita Bank, Ltd. | 16,555 | 443,646 | ||||||
Alconix Corp. | 7,800 | 152,113 | ||||||
Alfresa Holdings Corp. | 36,900 | 821,966 | ||||||
Alps Electric Co., Ltd. (c) | 35,900 | 874,292 | ||||||
Amada Holdings Co., Ltd. | 43,100 | 516,714 | ||||||
ANA Holdings, Inc. | 10,100 | 387,760 | ||||||
Aomori Bank, Ltd. | 1,010 | 30,865 | ||||||
Aoyama Trading Co., Ltd. | 2,100 | 82,144 | ||||||
Aozora Bank, Ltd. | 14,200 | 564,796 | ||||||
Asahi Glass Co., Ltd. | 35,100 | 1,450,536 | ||||||
Asahi Group Holdings, Ltd. | 87,636 | 4,688,753 | ||||||
Asahi Intecc Co., Ltd. | 6,400 | 255,458 | ||||||
Asahi Kasei Corp. | 163,150 | 2,145,419 | ||||||
Asics Corp. (c) | 36,300 | 669,340 | ||||||
Astellas Pharma, Inc. | 373,800 | 5,679,932 | ||||||
Atom Corp. (c) | 127,400 | 1,144,024 | ||||||
Awa Bank, Ltd. | 11,550 | 74,937 | ||||||
Azbil Corp. | 3,800 | 177,047 | ||||||
Bandai Namco Holdings, Inc. | 37,300 | 1,192,478 | ||||||
Bank of Iwate, Ltd. | 37,855 | 1,519,895 | ||||||
Bank of Kyoto, Ltd. | 3,200 | 178,731 | ||||||
Bank of Okinawa, Ltd. | 41,400 | 1,759,549 | ||||||
Benesse Holdings, Inc. | 4,100 | 147,268 | ||||||
Bridgestone Corp. | 85,465 | 3,719,154 | ||||||
Brother Industries, Ltd. | 36,100 | 823,834 | ||||||
Calbee, Inc. (c) | 3,700 | 124,899 | ||||||
Can Do Co., Ltd. (c) | 5,300 | 89,305 | ||||||
Canon, Inc. | 155,616 | 5,633,489 | ||||||
Casio Computer Co., Ltd. (c) | 86,900 | 1,277,965 | ||||||
Central Japan Railway Co. | 36,200 | 6,845,153 | ||||||
Chiba Bank, Ltd. | 66,550 | 536,280 | ||||||
Chubu Electric Power Co., Inc. | 80,765 | 1,152,050 | ||||||
Chugai Pharmaceutical Co., Ltd. | 43,580 | 2,184,122 | ||||||
Chugoku Bank Ltd. | 35,100 | 415,523 |
Security Description | Shares | Value | ||||||
Chugoku Electric Power Co., Inc. (c) | 35,600 | $ | 432,489 | |||||
Coca-Cola Bottlers Japan | ||||||||
Holdings, Inc. | 34,700 | 1,425,849 | ||||||
COLOPL, Inc. (c) | 2,000 | 17,677 | ||||||
Colowide Co., Ltd. (c) | 2,400 | 55,086 | ||||||
COMSYS Holdings Corp. | 9,500 | 249,135 | ||||||
Concordia Financial Group, Ltd. | 163,300 | 910,549 | ||||||
COOKPAD, Inc. (c) | 35,800 | 198,608 | ||||||
Credit Saison Co., Ltd. | 80,800 | 1,332,611 | ||||||
CyberAgent, Inc. | 5,800 | 296,681 | ||||||
Dai Nippon Printing Co., Ltd. | 31,600 | 648,639 | ||||||
Daicel Corp. | 39,000 | 423,188 | ||||||
Daifuku Co., Ltd. | 10,600 | 616,963 | ||||||
Dai-ichi Life Holdings, Inc. | 161,100 | 2,946,305 | ||||||
Daiichi Sankyo Co., Ltd. | 124,365 | 4,133,806 | ||||||
Daiken Medical Co., Ltd. | 40,700 | 294,678 | ||||||
Daikin Industries, Ltd. | 45,310 | 4,961,307 | ||||||
Daishi Bank, Ltd. | 1,517 | 67,256 | ||||||
Daito Trust Construction Co., Ltd. | 9,255 | 1,567,302 | ||||||
Daiwa House Industry Co., Ltd. | 84,400 | 3,206,168 | ||||||
Daiwa House REIT Investment Corp. | 51 | 122,956 | ||||||
Daiwa Securities Group, Inc. | 382,550 | 2,432,709 | ||||||
DeNA Co., Ltd. (c) | 35,700 | 643,842 | ||||||
Denka Co., Ltd. | 7,000 | 233,333 | ||||||
Denso Corp. | 76,710 | 4,170,543 | ||||||
Dentsu, Inc. | 36,900 | 1,613,399 | ||||||
DIC Corp. | 5,300 | 175,919 | ||||||
Disco Corp. | 2,500 | 524,683 | ||||||
Don Quijote Holdings Co., Ltd. | 16,300 | 925,736 | ||||||
Dowa Holdings Co., Ltd. (c) | 4,400 | 155,355 | ||||||
East Japan Railway Co. | 44,300 | 4,112,173 | ||||||
Ebara Corp. | 3,800 | 133,277 | ||||||
Eighteenth Bank, Ltd. | 8,251 | 21,258 | ||||||
Eisai Co., Ltd. | 41,551 | 2,651,294 | ||||||
Electric Power Development Co., Ltd. | 29,100 | 744,260 | ||||||
euglena Co., Ltd. (b) (c) | 5,000 | 48,519 | ||||||
Ezaki Glico Co., Ltd. | 2,700 | 142,934 | ||||||
F@N Communications, Inc. | 5,200 | 34,471 | ||||||
FamilyMart UNY Holdings Co., Ltd. | 9,500 | 786,977 | ||||||
FANUC Corp. | 29,855 | 7,458,837 | ||||||
Fast Retailing Co., Ltd. | 7,700 | 3,036,559 | ||||||
Feed One Co., Ltd. | 624,400 | 1,256,433 | ||||||
Financial Products Group Co., Ltd. | 40,100 | 516,945 | ||||||
Foster Electric Co., Ltd. | 43,100 | 1,045,991 | ||||||
Frontier Real Estate Investment Corp. | 20 | 81,993 | ||||||
Fuji Electric Co., Ltd. | 83,000 | 561,138 | ||||||
FUJIFILM Holdings Corp. | 82,910 | 3,271,183 | ||||||
Fujitsu, Ltd. | 375,513 | 2,256,256 | ||||||
Fukuoka Financial Group, Inc. | 414,550 | 2,245,236 | ||||||
Fukuoka REIT Corp. | 10 | 15,618 | ||||||
Furukawa Electric Co., Ltd. | 38,355 | 2,026,846 | ||||||
GLP J - REIT | 428 | 472,068 |
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SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
GMO internet, Inc. (c) | 3,500 | $ | 73,883 | |||||
GS Yuasa Corp. | 17,000 | 91,274 | ||||||
GungHo Online Entertainment, Inc. (c) | 43,600 | 142,669 | ||||||
Gunma Bank Ltd. | 46,900 | 267,244 | ||||||
Gurunavi, Inc. (c) | 5,200 | 71,680 | ||||||
Hachijuni Bank Ltd. | 75,300 | 404,999 | ||||||
Hakuhodo DY Holdings, Inc. | 39,500 | 539,666 | ||||||
Hamamatsu Photonics KK | 35,900 | 1,367,137 | ||||||
Hankyu Hanshin Holdings, Inc. | 40,600 | 1,507,945 | ||||||
Hankyu Reit, Inc. | 451 | 567,832 | ||||||
Haseko Corp. | 39,900 | 605,910 | ||||||
Heiwa Real Estate REIT, Inc. | 1,226 | 1,179,312 | ||||||
Hikari Tsushin, Inc. | 1,400 | 223,394 | ||||||
Hino Motors, Ltd. | 36,600 | 470,104 | ||||||
Hirose Electric Co., Ltd. | 2,940 | 401,952 | ||||||
Hiroshima Bank Ltd. (c) | 15,500 | 117,033 | ||||||
Hisamitsu Pharmaceutical Co., Inc. | 10,100 | 773,051 | ||||||
Hitachi Chemical Co., Ltd. | 4,800 | 105,794 | ||||||
Hitachi Construction Machinery Co., Ltd. (c) | 5,200 | 198,514 | ||||||
Hitachi High-Technologies Corp. | 3,700 | 172,562 | ||||||
Hitachi Metals, Ltd. | 38,600 | 448,609 | ||||||
Hitachi, Ltd. | 791,475 | 5,679,122 | ||||||
Hokkoku Bank, Ltd. | 16,555 | 651,459 | ||||||
Honda Motor Co., Ltd. | 245,075 | 8,390,391 | ||||||
Horiba, Ltd. | 4,900 | 377,348 | ||||||
Hoshizaki Corp. | 7,200 | 635,035 | ||||||
Hoya Corp. | 43,706 | 2,181,807 | ||||||
Hulic Co., Ltd. | 42,100 | 454,450 | ||||||
Hyakugo Bank, Ltd. | 35,450 | 168,333 | ||||||
Ibiden Co., Ltd. | 41,900 | 614,218 | ||||||
Ichigo Office REIT Investment | 1,653 | 1,255,876 | ||||||
Idemitsu Kosan Co., Ltd. | 12,000 | 451,340 | ||||||
IHI Corp. | 12,900 | 397,856 | ||||||
Iida Group Holdings Co., Ltd. (c) | 5,000 | 92,337 | ||||||
Industrial & Infrastructure Fund Investment Corp. REIT | 160 | 179,332 | ||||||
Infomart Corp. (c) | 79,400 | 796,613 | ||||||
Inpex Corp. | 127,800 | 1,557,994 | ||||||
Intage Holdings, Inc. | 76,200 | 830,426 | ||||||
Iriso Electronics Co., Ltd. (c) | 4,400 | 265,200 | ||||||
Isetan Mitsukoshi Holdings, Ltd. | 44,400 | 485,540 | ||||||
Isuzu Motors, Ltd. | 169,500 | 2,564,415 | ||||||
ITOCHU Corp. | 296,250 | 5,714,686 | ||||||
Iwatani Corp. | 2,800 | 102,548 | ||||||
Iyo Bank Ltd. | 40,800 | 309,980 | ||||||
J Front Retailing Co., Ltd. | 35,500 | 591,166 | ||||||
Jafco Co., Ltd. (b) | 2,100 | 96,657 | ||||||
Japan Airlines Co., Ltd. | 14,000 | 564,607 | ||||||
Japan Airport Terminal Co., Ltd. (c) | 4,800 | 184,147 | ||||||
Japan Excellent, Inc. | 357 | 461,566 | ||||||
Japan Exchange Group, Inc. | 82,200 | 1,518,787 | ||||||
Japan Hotel REIT Investment Corp. | 429 | 303,346 |
Security Description | Shares | Value | ||||||
Japan Logistics Fund, Inc. REIT | 37 | $ | 74,731 | |||||
Japan Post Bank Co., Ltd. (c) | 44,300 | 596,915 | ||||||
Japan Post Holdings Co., Ltd. | 48,100 | 581,180 | ||||||
Japan Prime Realty Investment Corp. REIT | 29 | 104,984 | ||||||
Japan Real Estate Investment Corp. REIT | 151 | 782,332 | ||||||
Japan Retail Fund Investment Corp. REIT | 399 | 772,863 | ||||||
Japan Tissue Engineering Co., Ltd. (b) (c) | 2,200 | 37,980 | ||||||
Japan Tobacco, Inc. | 131,300 | 3,747,019 | ||||||
JFE Holdings, Inc. | 82,910 | 1,650,794 | ||||||
JGC Corp. (c) | 36,800 | 788,942 | ||||||
JSR Corp. | 78,300 | 1,739,755 | ||||||
JTEKT Corp. | 37,800 | 546,652 | ||||||
JXTG Holdings, Inc. | 449,600 | 2,695,486 | ||||||
Kajima Corp. | 100,475 | 932,476 | ||||||
Kakaku.com, Inc. (c) | 39,200 | 682,268 | ||||||
Kaken Pharmaceutical Co., Ltd. | 2,000 | 117,348 | ||||||
Kaneka Corp. | 38,000 | 374,819 | ||||||
Kansai Electric Power Co., Inc. | 161,600 | 2,095,406 | ||||||
Kansai Paint Co., Ltd. | 39,300 | 909,794 | ||||||
Kao Corp. | 78,100 | 5,825,004 | ||||||
Kawasaki Heavy Industries, Ltd. | 14,000 | 445,604 | ||||||
KDDI Corp. | 244,500 | 6,219,979 | ||||||
Keihan Holdings Co., Ltd. | 4,800 | 147,814 | ||||||
Keikyu Corp. (c) | 40,900 | 713,394 | ||||||
Keio Corp. | 14,700 | 627,532 | ||||||
Keisei Electric Railway Co., Ltd. | 37,000 | 1,127,221 | ||||||
Kenedix Office Investment Corp. REIT | 42 | 255,515 | ||||||
Kenedix, Inc. | 40,800 | 251,284 | ||||||
Kewpie Corp. | 5,500 | 150,235 | ||||||
Keyence Corp. | 10,800 | 6,651,622 | ||||||
Kikkoman Corp. | 16,200 | 648,914 | ||||||
Kintetsu Group Holdings Co., Ltd. (c) | 15,910 | 621,590 | ||||||
Kirin Holdings Co., Ltd. | 118,500 | 3,134,929 | ||||||
Kiyo Bank, Ltd. (c) | 86,200 | 1,376,282 | ||||||
KNT-CT Holdings Co., Ltd. (b) | 15,000 | 244,993 | ||||||
Kobayashi Pharmaceutical Co., Ltd. | 2,500 | 176,775 | ||||||
Kobe Steel, Ltd. (b) | 43,099 | 422,682 | ||||||
Koito Manufacturing Co., Ltd. | 12,100 | 833,973 | ||||||
Komatsu, Ltd. | 161,720 | 5,329,841 | ||||||
Konami Holdings Corp. | 12,400 | 620,292 | ||||||
Konica Minolta, Inc. (c) | 130,875 | 1,098,932 | ||||||
Kose Corp. (c) | 3,600 | 747,757 | ||||||
Kubota Corp. | 204,150 | 3,541,671 | ||||||
Kuraray Co., Ltd. | 42,700 | 730,738 | ||||||
Kurita Water Industries, Ltd. | 42,210 | 1,343,496 | ||||||
Kyocera Corp. | 42,500 | 2,368,571 | ||||||
Kyoritsu Maintenance Co., Ltd. (c) | 1,200 | 56,530 | ||||||
Kyoto Kimono Yuzen Co., Ltd. (c) | 77,100 | 561,123 | ||||||
Kyowa Hakko Kirin Co., Ltd. | 37,000 | 795,665 | ||||||
Kyushu Electric Power Co., Inc. | 45,200 | 542,315 |
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Security Description | Shares | Value | ||||||
Kyushu Financial Group, Inc. | 36,800 | $ | 182,010 | |||||
Kyushu Railway Co. | 18,500 | 574,048 | ||||||
Lawson, Inc. (c) | 1,500 | 102,116 | ||||||
Leopalace21 Corp. | 1,600 | 13,029 | ||||||
Lion Corp. | 25,000 | 508,933 | ||||||
LIXIL Group Corp. | 37,100 | 814,560 | ||||||
M3, Inc. | 36,000 | 1,631,594 | ||||||
Mabuchi Motor Co., Ltd. | 3,500 | 171,791 | ||||||
Makita Corp. | 38,300 | 1,872,685 | ||||||
Marubeni Corp. | 417,050 | 3,006,603 | ||||||
Marui Group Co., Ltd. (c) | 37,400 | 745,538 | ||||||
Matsumotokiyoshi Holdings Co., Ltd. | 5,000 | 209,685 | ||||||
Matsuya Co., Ltd. | 80,800 | 1,124,438 | ||||||
Mazda Motor Corp. | 83,400 | 1,105,334 | ||||||
McDonald’s Holdings Co. Japan, Ltd. | 5,600 | 263,808 | ||||||
MCUBS MidCity Investment Corp. | 1,940 | 1,415,552 | ||||||
Mebuki Financial Group, Inc. | 117,500 | 450,776 | ||||||
Medipal Holdings Corp. | 85,199 | 1,760,859 | ||||||
MEIJI Holdings Co., Ltd. | 18,400 | 1,406,601 | ||||||
Meiko Network Japan Co., Ltd. | 80,700 | 975,078 | ||||||
Milbon Co., Ltd. | 1,200 | 53,089 | ||||||
MINEBEA MITSUMI, Inc. (c) | 44,400 | 936,429 | ||||||
MISUMI Group, Inc. | 39,300 | 1,069,803 | ||||||
Mitsubishi Chemical Holdings Corp. | 202,800 | 1,945,049 | ||||||
Mitsubishi Corp. | 246,938 | 6,560,633 | ||||||
Mitsubishi Electric Corp. | 368,050 | 5,881,532 | ||||||
Mitsubishi Estate Co., Ltd. | 166,625 | 2,741,831 | ||||||
Mitsubishi Gas Chemical Co., Inc. | 37,000 | 877,076 | ||||||
Mitsubishi Heavy Industries, Ltd. (c) | 36,710 | 1,401,090 | ||||||
Mitsubishi Logistics Corp. (c) | 4,500 | 93,681 | ||||||
Mitsubishi Materials Corp. | 5,700 | 166,953 | ||||||
Mitsubishi Motors Corp. (c) | 124,200 | 878,217 | ||||||
Mitsubishi Tanabe Pharma Corp. | 38,000 | 763,216 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 1,702,324 | 11,145,540 | ||||||
Mitsubishi UFJ Lease & Finance Co., Ltd. | 76,600 | 451,605 | ||||||
Mitsui & Co., Ltd. | 291,526 | 4,961,561 | ||||||
Mitsui Chemicals, Inc. | 27,110 | 848,860 | ||||||
Mitsui Fudosan Co., Ltd. | 127,200 | 3,028,401 | ||||||
Mitsui Mining & Smelting Co., Ltd. | 3,200 | 139,614 | ||||||
Mitsui OSK Lines, Ltd. | 14,255 | 400,105 | ||||||
Miura Co., Ltd. (c) | 16,300 | 521,110 | ||||||
Mixi, Inc. | 2,100 | 77,800 | ||||||
Mizuho Financial Group, Inc. | 3,227,100 | 5,810,904 | ||||||
Mori Hills REIT Investment Corp. | 52 | 65,813 | ||||||
Morinaga & Co., Ltd. | 2,600 | 114,048 | ||||||
MS&AD Insurance Group Holdings, Inc. | 83,199 | 2,562,858 | ||||||
Murata Manufacturing Co., Ltd. | 37,400 | 5,095,684 | ||||||
Musashino Bank, Ltd. | 41,455 | 1,317,517 |
Security Description | Shares | Value | ||||||
Nabtesco Corp. | 15,000 | $ | 574,753 | |||||
Nachi-Fujikoshi Corp. | 15,000 | 89,563 | ||||||
Nagoya Railroad Co., Ltd. (c) | 23,300 | 590,223 | ||||||
Nankai Electric Railway Co., Ltd. (c) | 5,400 | 135,216 | ||||||
Nanto Bank, Ltd. (c) | 41,255 | 1,119,529 | ||||||
NEC Corp. | 21,800 | 606,751 | ||||||
Nexon Co., Ltd. (b) | 67,600 | 1,137,155 | ||||||
NGK Insulators, Ltd. | 40,800 | 696,688 | ||||||
NGK Spark Plug Co., Ltd. | 22,400 | 532,671 | ||||||
NH Foods, Ltd. | 13,000 | 531,124 | ||||||
NHK Spring Co., Ltd. | 37,600 | 398,097 | ||||||
Nichirei Corp. | 34,500 | 929,083 | ||||||
Nidec Corp. | 40,600 | 6,146,309 | ||||||
Nifco, Inc. (c) | 5,000 | 166,667 | ||||||
Nihon M&A Center, Inc. (c) | 7,400 | 252,929 | ||||||
Nikon Corp. | 82,600 | 1,474,917 | ||||||
Nintendo Co., Ltd. | 13,900 | 6,098,486 | ||||||
Nippon Accommodations Fund, Inc. REIT | 11 | 48,354 | ||||||
Nippon Building Fund, Inc. REIT | 163 | 901,213 | ||||||
Nippon Electric Glass Co., Ltd. | 4,000 | 114,339 | ||||||
Nippon Express Co., Ltd. | 11,000 | 718,853 | ||||||
Nippon Paint Holdings Co., Ltd. (c) | 37,000 | 1,348,143 | ||||||
Nippon Paper Industries Co., Ltd. (c) | 4,200 | 77,049 | ||||||
Nippon Prologis REIT, Inc. | 349 | 755,100 | ||||||
Nippon Shinyaku Co., Ltd. | 2,600 | 174,556 | ||||||
Nippon Steel & Sumitomo Metal Corp. | 117,100 | 2,541,296 | ||||||
Nippon Suisan Kaisha, Ltd. | 253,500 | 1,308,618 | ||||||
Nippon Telegraph & Telephone Corp. | 83,500 | 3,848,773 | ||||||
Nippon Television Holdings, Inc. | 2,000 | 34,810 | ||||||
Nippon Yusen KK | 16,555 | 320,826 | ||||||
Nissan Chemical Industries, Ltd. | 12,600 | 516,559 | ||||||
Nissan Motor Co., Ltd. | 331,541 | 3,412,051 | ||||||
Nissei ASB Machine Co., Ltd. (c) | 4,300 | 292,732 | ||||||
Nisshin Seifun Group, Inc. | 38,500 | 759,502 | ||||||
Nissin Foods Holdings Co., Ltd. | 10,400 | 717,781 | ||||||
Nitori Holdings Co., Ltd. | 9,800 | 1,703,366 | ||||||
Nitto Denko Corp. | 36,700 | 2,730,328 | ||||||
NOK Corp. | 5,700 | 109,927 | ||||||
Nomura Holdings, Inc. | 500,485 | 2,876,318 | ||||||
Nomura Real Estate Holdings, Inc. | 6,000 | 139,126 | ||||||
Nomura Real Estate Master Fund, Inc. | 448 | 622,187 | ||||||
Nomura Research Institute, Ltd. | 16,100 | 750,122 | ||||||
NSK, Ltd. | 45,100 | 597,093 | ||||||
NTT Data Corp. | 165,600 | 1,717,506 | ||||||
NTT DOCOMO, Inc. | 162,500 | 4,109,485 | ||||||
Obayashi Corp. | 84,750 | 921,213 | ||||||
Obic Co., Ltd. | 8,000 | 664,222 |
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Security Description | Shares | Value | ||||||
Odakyu Electric Railway Co., Ltd. | 43,499 | $ | 879,387 | |||||
Ogaki Kyoritsu Bank, Ltd. | 16,555 | 419,362 | ||||||
Oji Holdings Corp. | 126,000 | 803,272 | ||||||
Oki Electric Industry Co., Ltd. (c) | 3,600 | 47,120 | ||||||
Olympus Corp. | 42,300 | 1,598,928 | ||||||
Omron Corp. | 36,600 | 2,102,736 | ||||||
Ono Pharmaceutical Co., Ltd. | 77,900 | 2,456,029 | ||||||
Oracle Corp. Japan | 1,900 | 155,252 | ||||||
Oriental Land Co., Ltd. | 39,300 | 3,987,278 | ||||||
ORIX Corp. | 165,700 | 2,926,821 | ||||||
Orix JREIT, Inc. REIT | 334 | 518,823 | ||||||
Osaka Gas Co., Ltd. (c) | 52,600 | 1,037,162 | ||||||
Otsuka Corp. | 13,200 | 665,275 | ||||||
Otsuka Holdings Co., Ltd. | 78,700 | 3,916,870 | ||||||
Panasonic Corp. | 306,750 | 4,336,611 | ||||||
Park24 Co., Ltd. (c) | 5,100 | 138,206 | ||||||
PeptiDream, Inc. (b) | 11,300 | 610,954 | ||||||
Pigeon Corp. | 37,400 | 1,675,703 | ||||||
Pola Orbis Holdings, Inc. | 4,800 | 198,364 | ||||||
Rakuten, Inc. | 85,000 | 697,583 | ||||||
Raysum Co., Ltd. | 3,300 | 40,183 | ||||||
Recruit Holdings Co., Ltd. | 202,400 | 4,993,866 | ||||||
Relo Group, Inc. | 10,000 | 275,788 | ||||||
Renesas Electronics Corp. (b) | 37,800 | 373,557 | ||||||
Resona Holdings, Inc. | 286,700 | 1,522,866 | ||||||
Ricoh Co., Ltd. (c) | 81,200 | 791,767 | ||||||
Ringer Hut Co., Ltd. (c) | 900 | 20,937 | ||||||
Rinnai Corp. | 1,700 | 160,489 | ||||||
Riso Kyoiku Co., Ltd. (c) | 47,006 | 345,197 | ||||||
Rock Field Co., Ltd. | 80,000 | 1,643,630 | ||||||
Rohm Co., Ltd. | 8,400 | 781,946 | ||||||
Rohto Pharmaceutical Co., Ltd. | 5,901 | 164,074 | ||||||
Ryohin Keikaku Co., Ltd. | 2,500 | 827,457 | ||||||
San-In Godo Bank, Ltd. | 35,550 | 314,886 | ||||||
Sankyu, Inc. | 7,300 | 359,680 | ||||||
Sanrio Co., Ltd. (c) | 3,900 | 70,409 | ||||||
Santen Pharmaceutical Co., Ltd. | 45,200 | 748,021 | ||||||
Sanwa Holdings Corp. | 35,800 | 454,106 | ||||||
Sawai Pharmaceutical Co., Ltd. (c) | 1,600 | 70,033 | ||||||
SBI Holdings, Inc. (c) | 36,400 | 835,814 | ||||||
SCREEN Holdings Co., Ltd. | 2,800 | 247,748 | ||||||
Secom Co., Ltd. | 41,648 | 3,066,327 | ||||||
Sega Sammy Holdings, Inc. | 5,300 | 84,969 | ||||||
Seibu Holdings, Inc. | 37,300 | 646,744 | ||||||
Seiko Epson Corp. | 45,500 | 779,511 | ||||||
Seino Holdings Co., Ltd. | 36,500 | 666,850 | ||||||
Sekisui Chemical Co., Ltd. | 44,300 | 766,450 | ||||||
Sekisui House Residential Investment Corp. REIT | 427 | 468,556 | ||||||
Sekisui House, Ltd. | 82,600 | 1,500,547 | ||||||
Seria Co., Ltd. | 3,800 | 186,516 | ||||||
Seven & i Holdings Co., Ltd. | 124,228 | 5,293,853 | ||||||
Seven Bank, Ltd. (c) | 86,100 | 273,642 | ||||||
Sharp Corp. (b) (c) | 14,200 | 420,592 | ||||||
Shiga Bank, Ltd. | 11,550 | 58,537 |
Security Description | Shares | Value | ||||||
Shikoku Bank, Ltd. | 1,820 | $ | 25,670 | |||||
Shikoku Electric Power Co., Inc. | 36,600 | 436,722 | ||||||
Shimadzu Corp. | 42,300 | 1,147,887 | ||||||
Shimamura Co., Ltd. | 1,400 | 173,503 | ||||||
Shimano, Inc. | 10,300 | 1,476,963 | ||||||
Shimizu Corp. | 81,313 | 716,411 | ||||||
Shin-Etsu Chemical Co., Ltd. | 47,217 | 4,828,255 | ||||||
Shinsei Bank, Ltd. (c) | 5,200 | 80,041 | ||||||
Shionogi & Co., Ltd. | 41,200 | 2,124,890 | ||||||
Shiseido Co., Ltd. | 45,100 | 2,878,597 | ||||||
Shizuoka Bank, Ltd. | 71,000 | 674,283 | ||||||
Showa Denko KK | 13,100 | 537,673 | ||||||
SMC Corp. | 8,100 | 3,243,808 | ||||||
SMS Co., Ltd. (c) | 36,300 | 1,532,553 | ||||||
SoftBank Group Corp. | 114,536 | 8,406,845 | ||||||
Sohgo Security Services Co., Ltd. | 3,800 | 184,730 | ||||||
Sojitz Corp. | 161,400 | 508,406 | ||||||
Sompo Holdings, Inc. | 83,600 | 3,333,781 | ||||||
Sony Corp. | 163,820 | 7,871,370 | ||||||
Sony Financial Holdings, Inc. (c) | 33,800 | 610,847 | ||||||
Square Enix Holdings Co., Ltd. | 3,400 | 151,697 | ||||||
Stanley Electric Co., Ltd. | 28,673 | 1,060,914 | ||||||
Start Today Co., Ltd. | 37,600 | 964,837 | ||||||
Starts Proceed Investment Corp. REIT | 51 | 79,413 | ||||||
Subaru Corp. | 83,100 | 2,726,243 | ||||||
SUMCO Corp. | 34,500 | 883,018 | ||||||
Sumitomo Chemical Co., Ltd. | 414,550 | 2,369,971 | ||||||
Sumitomo Corp. | 212,775 | 3,519,240 | ||||||
Sumitomo Dainippon Pharma Co., Ltd. (c) | 5,300 | 87,611 | ||||||
Sumitomo Electric Industries, Ltd. | 128,420 | 1,939,885 | ||||||
Sumitomo Forestry Co., Ltd. | 33,500 | 533,291 | ||||||
Sumitomo Heavy Industries, Ltd. | 14,800 | 556,653 | ||||||
Sumitomo Metal Mining Co., Ltd. | 25,500 | 1,037,024 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 168,200 | 7,039,569 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 78,855 | 3,190,532 | ||||||
Sumitomo Realty & Development Co., Ltd. | 55,000 | 2,029,337 | ||||||
Sumitomo Rubber Industries, Ltd. | 37,100 | 675,370 | ||||||
Sun Corp. (c) | 3,000 | 19,831 | ||||||
Sun Frontier Fudousan Co., Ltd. (c) | 3,100 | 33,638 | ||||||
Sundrug Co., Ltd. | 3,900 | 180,790 | ||||||
Suntory Beverage & Food, Ltd. | 11,100 | 537,518 | ||||||
Suruga Bank, Ltd. | 36,200 | 502,409 | ||||||
Suzuken Co., Ltd. | 4,100 | 170,785 | ||||||
Suzuki Motor Corp. (c) | 54,900 | 2,944,003 | ||||||
Sysmex Corp. | 27,200 | 2,439,944 | ||||||
T&D Holdings, Inc. | 124,600 | 1,960,678 | ||||||
Tadano, Ltd. | 5,200 | 77,205 |
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SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Taiheiyo Cement Corp. | 6,200 | $ | 220,367 | |||||
Taisei Corp. | 27,387 | 1,385,445 | ||||||
Taisho Pharmaceutical Holdings Co., Ltd. | 6,300 | 619,041 | ||||||
Taiyo Nippon Sanso Corp. (c) | 35,800 | 535,569 | ||||||
Taiyo Yuden Co., Ltd. (c) | 46,700 | 772,844 | ||||||
Takashimaya Co., Ltd. | 21,000 | 200,028 | ||||||
Takeda Pharmaceutical Co., Ltd. | 113,465 | 5,462,537 | ||||||
Takeuchi Manufacturing Co., Ltd. (c) | 43,900 | 957,255 | ||||||
TDK Corp. | 38,555 | 3,375,149 | ||||||
Teijin, Ltd. | 83,710 | 1,574,236 | ||||||
Temp Holdings Co., Ltd. | 28,500 | 817,348 | ||||||
Terumo Corp. | 41,800 | 2,153,869 | ||||||
THK Co., Ltd. | 14,200 | 577,480 | ||||||
TIS, Inc. | 9,700 | 382,163 | ||||||
Tobu Railway Co., Ltd. | 18,100 | 548,021 | ||||||
Toho Bank, Ltd. | 12,101 | 46,424 | ||||||
Toho Co., Ltd. | 35,700 | 1,176,573 | ||||||
Toho Gas Co., Ltd. | 4,400 | 136,323 | ||||||
Tohoku Electric Power Co., Inc. | 80,600 | 1,087,551 | ||||||
Tokai Carbon Co., Ltd. | 36,400 | 530,170 | ||||||
Tokio Marine Holdings, Inc. | 119,765 | 5,375,067 | ||||||
Tokyo Century Corp. | 6,500 | 402,774 | ||||||
Tokyo Dome Corp. | 88,000 | 828,284 | ||||||
Tokyo Electric Power Co. Holdings, Inc. (b) | 166,175 | 645,325 | ||||||
Tokyo Electron, Ltd. | 33,355 | 6,026,482 | ||||||
Tokyo Gas Co., Ltd. | 38,795 | 1,027,967 | ||||||
Tokyo Tatemono Co., Ltd. | 35,600 | 533,916 | ||||||
Tokyu Corp. | 58,475 | 914,376 | ||||||
Tokyu Fudosan Holdings Corp. | 45,800 | 326,005 | ||||||
Toppan Printing Co., Ltd. | 77,000 | 625,557 | ||||||
Toray Industries, Inc. | 396,550 | 3,732,455 | ||||||
Toshiba Corp. (b) | 736,513 | 2,119,163 | ||||||
Tosoh Corp. | 32,500 | 631,053 | ||||||
TOTO, Ltd. | 13,300 | 686,573 | ||||||
Toyo Seikan Group Holdings, Ltd. | 34,500 | 509,958 | ||||||
Toyo Suisan Kaisha, Ltd. | 12,300 | 483,441 | ||||||
Toyo Tire & Rubber Co., Ltd. | 35,600 | 602,539 | ||||||
Toyota Industries Corp. | 36,300 | 2,170,832 | ||||||
Toyota Motor Corp. | 340,688 | 21,918,075 | ||||||
Toyota Tsusho Corp. | 35,700 | 1,190,000 | ||||||
Trend Micro, Inc. | 10,000 | 580,160 | ||||||
Tsumura & Co. | 3,500 | 120,945 | ||||||
Tsuruha Holdings, Inc. | 4,200 | 599,887 | ||||||
Ube Industries, Ltd. | 5,200 | 151,086 | ||||||
Ulvac, Inc. | 2,600 | 143,996 | ||||||
Unicharm Corp. | 44,100 | 1,264,324 | ||||||
United Urban Investment Corp. REIT | 399 | 623,543 | ||||||
USS Co., Ltd. | 37,110 | 751,621 | ||||||
Warabeya Nichiyo Holdings Co., Ltd. | 41,700 | 1,028,874 | ||||||
West Japan Railway Co. | 35,600 | 2,502,210 | ||||||
Yahoo! Japan Corp. (c) | 129,300 | 600,604 | ||||||
Yakult Honsha Co., Ltd. | 34,100 | 2,542,670 |
Security Description | Shares | Value | ||||||
Yamada Denki Co., Ltd. (c) | 211,580 | $ | 1,275,249 | |||||
Yamagata Bank, Ltd. (c) | 1,634 | 36,798 | ||||||
Yamaguchi Financial Group, Inc. | 12,000 | 147,250 | ||||||
Yamaha Corp. | 37,300 | 1,615,106 | ||||||
Yamaha Motor Co., Ltd. | 38,400 | 1,128,350 | ||||||
Yamanashi Chuo Bank, Ltd. | 7,550 | 31,024 | ||||||
Yamato Holdings Co., Ltd. (c) | 42,300 | 1,053,821 | ||||||
Yamazaki Baking Co., Ltd. | 36,500 | 760,202 | ||||||
Yaskawa Electric Corp. (c) | 37,200 | 1,651,001 | ||||||
Yokogawa Electric Corp. | 36,900 | 736,265 | ||||||
Yokohama Rubber Co., Ltd. | 6,300 | 144,186 | ||||||
Zenrin Co., Ltd. | 2,100 | 43,659 | ||||||
Zeon Corp. | 24,300 | 347,763 | ||||||
|
| |||||||
603,806,433 | ||||||||
|
| |||||||
JORDAN — 0.0% (f) | ||||||||
Hikma Pharmaceuticals PLC | 17,751 | 300,930 | ||||||
|
| |||||||
LUXEMBOURG — 0.2% | ||||||||
APERAM SA | 5,772 | 275,643 | ||||||
ArcelorMittal (b) | 66,261 | 2,094,322 | ||||||
Eurofins Scientific SE | 1,230 | 648,955 | ||||||
Millicom International Cellular SA SDR | 7,477 | 508,448 | ||||||
SES SA (c) | 42,747 | 577,508 | ||||||
Tenaris SA | 47,575 | 816,216 | ||||||
|
| |||||||
4,921,092 | ||||||||
|
| |||||||
MACAU — 0.0% (f) | ||||||||
MGM China Holdings, Ltd. | 21,600 | 55,732 | ||||||
Wynn Macau, Ltd. | 156,000 | 565,498 | ||||||
|
| |||||||
621,230 | ||||||||
|
| |||||||
MALTA — 0.0% (f) | ||||||||
Catena Media PLC (b) | 26,483 | 357,964 | ||||||
Kindred Group PLC | 28,540 | 389,005 | ||||||
|
| |||||||
746,969 | ||||||||
|
| |||||||
MEXICO — 0.0% (f) | ||||||||
Fresnillo PLC | 25,223 | 448,831 | ||||||
|
| |||||||
NETHERLANDS — 3.7% | ||||||||
ABN AMRO Group NV (e) | 26,884 | 809,059 | ||||||
Aegon NV | 301,445 | 2,030,130 | ||||||
Akzo Nobel NV | 46,267 | 4,366,620 | ||||||
Altice NV Class A (b) | 39,821 | 328,027 | ||||||
ASML Holding NV | 65,592 | 12,919,036 | ||||||
ASR Nederland NV | 18,606 | 794,484 | ||||||
Constellium NV Class A (b) | 10,348 | 112,276 | ||||||
EXOR NV | 12,356 | 877,115 | ||||||
Fugro NV (b) | 16,929 | 223,400 | ||||||
Gemalto NV | 6,936 | 423,527 | ||||||
Gemalto NV (g) | 221 | 13,495 | ||||||
Heineken Holding NV | 12,062 | 1,241,644 | ||||||
Heineken NV | 27,690 | 2,972,963 | ||||||
ING Groep NV | 524,648 | 8,839,768 | ||||||
Koninklijke Ahold Delhaize NV | 202,756 | 4,798,177 | ||||||
Koninklijke DSM NV | 36,993 | 3,668,786 | ||||||
Koninklijke KPN NV | 581,856 | 1,743,907 | ||||||
Koninklijke Philips NV | 167,046 | 6,402,587 |
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SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
NN Group NV | 39,302 | $ | 1,742,014 | |||||
NXP Semiconductors NV (b) | 39,329 | 4,601,493 | ||||||
OCI NV (b) (c) | 4,995 | 115,214 | ||||||
Philips Lighting NV (e) | 18,633 | 698,932 | ||||||
PostNL NV | 103,021 | 385,423 | ||||||
Randstad Holding NV (c) | 8,198 | 538,597 | ||||||
Royal Dutch Shell PLC Class A | 562,303 | 17,617,818 | ||||||
Royal Dutch Shell PLC Class B | 465,278 | 14,861,796 | ||||||
SBM Offshore NV | 52,995 | 846,961 | ||||||
Wolters Kluwer NV | 38,514 | 2,045,757 | ||||||
|
| |||||||
96,019,006 | ||||||||
|
| |||||||
NEW ZEALAND - 0.3% | ||||||||
a2 Milk Co., Ltd. (b) | 359,561 | 3,216,401 | ||||||
Air New Zealand, Ltd. | 159,250 | 371,072 | ||||||
Auckland International Airport, Ltd. | 69,160 | 305,339 | ||||||
Fisher & Paykel Healthcare Corp., Ltd. | 86,596 | 824,608 | ||||||
Fletcher Building, Ltd. | 45,234 | 196,770 | ||||||
Goodman Property Trust REIT | 294,821 | 282,869 | ||||||
Infratil, Ltd. | 126,067 | 281,929 | ||||||
Investore Property, Ltd. (c) | 51,456 | 51,969 | ||||||
Kiwi Property Group, Ltd. | 334,136 | 323,001 | ||||||
Spark New Zealand, Ltd. | 227,232 | 547,510 | ||||||
Stride Property Group (c) | 194,499 | 238,530 | ||||||
Vital Healthcare Property Trust REIT | 263,298 | 396,031 | ||||||
Xero, Ltd. (b)(c) | 141 | 3,617 | ||||||
|
| |||||||
7,039,646 | ||||||||
|
| |||||||
NORWAY — 0.7% | ||||||||
Akastor ASA (b) | 17,731 | 34,419 | ||||||
Aker Solutions ASA (b) | 17,731 | 93,613 | ||||||
DNB ASA | 152,598 | 2,957,322 | ||||||
DNO ASA (b) | 101,193 | 159,247 | ||||||
Marine Harvest ASA | 43,668 | 874,367 | ||||||
Norsk Hydro ASA | 255,961 | 1,498,087 | ||||||
Orkla ASA | 245,238 | 2,628,258 | ||||||
Schibsted ASA Class A | 8,768 | 244,581 | ||||||
Schibsted ASA Class B | 8,608 | 217,751 | ||||||
Statoil ASA (c) | 148,007 | 3,481,043 | ||||||
Storebrand ASA | 141,869 | 1,152,523 | ||||||
Telenor ASA | 130,074 | 2,932,524 | ||||||
TGS Nopec Geophysical Co. ASA | 14,442 | 351,993 | ||||||
Yara International ASA | 42,845 | 1,806,912 | ||||||
|
| |||||||
18,432,640 | ||||||||
|
| |||||||
PORTUGAL — 0.2% | ||||||||
Banco Comercial Portugues SA Class R (b) | 1,062,597 | 355,459 | ||||||
EDP - Energias de Portugal SA | 435,927 | 1,655,554 | ||||||
Galp Energia SGPS SA | 53,115 | 999,777 | ||||||
Jeronimo Martins SGPS SA | 30,592 | 557,017 | ||||||
Mota-Engil SGPS SA | 68,793 | 276,659 | ||||||
NOS SGPS SA | 163,004 | 960,254 | ||||||
Pharol SGPS SA (b) (c) | 188,556 | 52,872 | ||||||
|
| |||||||
4,857,592 | ||||||||
|
|
Security Description | Shares | Value | ||||||
SINGAPORE — 1.2% | ||||||||
AIMS AMP Capital Industrial REIT | 371,498 | $ | 385,295 | |||||
Ascendas REIT | 254,215 | 509,865 | ||||||
Ascendas Hospitality Trust REIT | 534,500 | 332,203 | ||||||
Cache Logistics Trust REIT | 497,629 | 316,876 | ||||||
CapitaLand Mall Trust REIT | 290,300 | 460,477 | ||||||
CapitaLand, Ltd. | 829,000 | 2,256,943 | ||||||
China New Town Development Co., | 1,443,800 | 52,430 | ||||||
City Developments, Ltd. | 77,200 | 765,347 | ||||||
ComfortDelGro Corp., Ltd. | 254,300 | 397,556 | ||||||
COSCO Shipping International Singapore Co., Ltd. (b) (c) | 1,205,100 | 436,530 | ||||||
DBS Group Holdings, Ltd. | 242,092 | 5,077,046 | ||||||
Genting Singapore PLC | 1,674,600 | 1,379,218 | ||||||
IGG, Inc. (c) | 52,000 | 71,159 | ||||||
Jardine Cycle & Carriage, Ltd. | 3,333 | 87,690 | ||||||
Keppel REIT | 120,209 | 110,923 | ||||||
Keppel Corp., Ltd. | 422,175 | 2,501,563 | ||||||
Lippo Malls Indonesia Retail Trust REIT | 2,482,100 | 728,749 | ||||||
Oversea-Chinese Banking Corp., Ltd. | 456,737 | 4,465,316 | ||||||
Sembcorp Industries, Ltd. | 120,500 | 285,789 | ||||||
Singapore Airlines, Ltd. | 130,856 | 1,081,735 | ||||||
Singapore Exchange, Ltd. | 118,600 | 666,577 | ||||||
Singapore Press Holdings, Ltd. (c) | 205,500 | 394,921 | ||||||
Singapore Technologies Engineering, Ltd. | 89,800 | 245,849 | ||||||
Singapore Telecommunications, Ltd. | 993,600 | 2,553,521 | ||||||
Soilbuild Business Space REIT (c) | 705,800 | 349,859 | ||||||
United Overseas Bank, Ltd. | 161,108 | 3,378,685 | ||||||
UOL Group, Ltd. | 81,754 | 533,056 | ||||||
Wilmar International, Ltd. | 412,000 | 999,131 | ||||||
|
| |||||||
30,824,309 | ||||||||
|
| |||||||
SOUTH AFRICA — 0.1% | ||||||||
Investec PLC | 71,808 | 553,624 | ||||||
Mondi PLC | 92,037 | 2,472,447 | ||||||
|
| |||||||
3,026,071 | ||||||||
|
| |||||||
SOUTH KOREA — 5.0% | ||||||||
Advanced Process Systems Corp. (b) (d) | 4,785 | 127,043 | ||||||
Amorepacific Corp. | 3,308 | 952,769 | ||||||
AMOREPACIFIC Group | 3,702 | 475,818 | ||||||
APS Holdings Corp. (b) (d) | 2,314 | 16,043 | ||||||
Asiana Airlines, Inc. (b) | 94,526 | 422,126 | ||||||
BNK Financial Group, Inc. | 40,141 | 401,071 | ||||||
Celltrion, Inc. (b) (c) | 11,943 | 3,551,863 | ||||||
CJ CGV Co., Ltd. | 14,809 | 941,974 | ||||||
CMG Pharmaceutical Co., Ltd. (b) | 21,145 | 133,706 | ||||||
Coway Co., Ltd. | 4,902 | 403,786 |
100
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SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Crown Confectionery Co., Ltd. (d) | 9,507 | $ | 111,490 | |||||
CROWNHAITAI Holdings Co., Ltd. (d) | 7,716 | 96,278 | ||||||
CUROCOM Co., Ltd. (b) (c) | 23,484 | 54,309 | ||||||
Dae Han Flour Mills Co., Ltd. | 5,373 | 846,856 | ||||||
Daewoo Shipbuilding & Marine Engineering Co., Ltd. (b) | 499 | 13,085 | ||||||
Digitech Systems Co., Ltd. (a) | 19,094 | — | ||||||
DIO Corp. (b) | 3,479 | 145,734 | ||||||
Dongkuk Industries Co., Ltd. | 194,548 | 686,275 | ||||||
Dongwon F&B Co., Ltd. | 2,872 | 590,082 | ||||||
Dongwon Industries Co., Ltd. | 3,254 | 917,372 | ||||||
DY Corp. | 27,875 | 154,294 | ||||||
E-MART, Inc. | 2,098 | 532,422 | ||||||
Eyegene, Inc. (b) | 5,370 | 113,607 | ||||||
GS Home Shopping, Inc. | 2,843 | 501,172 | ||||||
Hana Financial Group, Inc. | 32,293 | 1,381,519 | ||||||
Hana Tour Service, Inc. | 9,916 | 1,111,701 | ||||||
Hancom, Inc. | 22,056 | 337,286 | ||||||
Hankook Shell Oil Co., Ltd. | 1,201 | 376,897 | ||||||
Hankook Tire Co., Ltd. | 5,260 | 259,570 | ||||||
Hanssem Co., Ltd. | 5,852 | 823,529 | ||||||
Harim Co., Ltd. (b) | 116,230 | 383,290 | ||||||
Hotel Shilla Co., Ltd. | 11,914 | 1,028,322 | ||||||
HS Industries Co., Ltd. | 20,038 | 157,913 | ||||||
Huons Co., Ltd. | 6,670 | 673,320 | ||||||
Huons Global Co., Ltd. | 5,750 | 383,549 | ||||||
Hyundai Construction Equipment Co., Ltd. (b) | 295 | 48,848 | ||||||
Hyundai Electric & Energy System Co., Ltd. (b) | 270 | 20,822 | ||||||
Hyundai Elevator Co., Ltd. | 7,470 | 557,149 | ||||||
Hyundai Engineering Plastics Co., Ltd. | 138,719 | 844,625 | ||||||
Hyundai Glovis Co., Ltd. | 1,619 | 276,441 | ||||||
Hyundai Heavy Industries Co., Ltd. (b) | 49 | 6,321 | ||||||
Hyundai Hy Communications & Network Co., Ltd. | 137,192 | 563,106 | ||||||
Hyundai Mobis Co., Ltd. | 7,493 | 1,785,554 | ||||||
Hyundai Motor Co. | 19,102 | 2,571,664 | ||||||
Hyundai Motor Co. Preference Shares | 3,169 | 277,091 | ||||||
Hyundai Robotics Co., Ltd. (b) | 2,080 | 831,297 | ||||||
Hyundai Steel Co. | 6,522 | 315,729 | ||||||
Infinitt Healthcare Co., Ltd. (b) | 44,988 | 350,737 | ||||||
Interpark Holdings Corp. | 21,372 | 73,085 | ||||||
Jeil Pharma Holdings, Inc. | 281 | 8,357 | ||||||
Jeil Pharmaceutical Co., Ltd. | 869 | 49,732 | ||||||
Jenax, Inc. (b) (c) | 49,181 | 1,504,175 | ||||||
JoyCity Corp. (b) (c) | 7,370 | 110,284 | ||||||
Kakao Corp. | 4,871 | 591,795 | ||||||
Kangstem Biotech Co., Ltd. (b) | 4,706 | 61,811 | ||||||
Kangwon Land, Inc. | 10,822 | 276,667 | ||||||
KB Financial Group, Inc. | 72,789 | 4,206,588 | ||||||
KCC Corp. | 393 | 122,225 | ||||||
Kia Motors Corp. | 27,601 | 824,741 |
Security Description | Shares | Value | ||||||
KIWOOM Securities Co., Ltd. (c) | 21,873 | $ | 2,185,453 | |||||
Koh Young Technology, Inc. | 35,609 | 3,347,426 | ||||||
Korea Aerospace Industries, Ltd. (b) | 6,393 | 299,588 | ||||||
Korea Electric Power Corp. ADR (b) (c) | 95,674 | 1,472,423 | ||||||
Korea Zinc Co., Ltd. | 1,701 | 769,192 | ||||||
Korean Air Lines Co., Ltd. | 11,187 | 343,198 | ||||||
KT Corp. ADR (b) | 89,890 | 1,231,493 | ||||||
KT&G Corp. | 13,567 | 1,272,821 | ||||||
KyungDong City Gas Co., Ltd. | 2,283 | 82,033 | ||||||
LG Chem, Ltd. | 5,442 | 1,970,740 | ||||||
LG Chem, Ltd. Preference Shares | 2,421 | 489,469 | ||||||
LG Display Co., Ltd. ADR (b) (c) | 124,251 | 1,503,437 | ||||||
LG Display Co., Ltd. | 27,227 | 660,304 | ||||||
LG Electronics, Inc. | 15,654 | 1,600,794 | ||||||
LG Household & Health Care, Ltd. | 1,252 | 1,400,116 | ||||||
LG Uplus Corp. | 28,810 | 332,454 | ||||||
Lotte Chemical Corp. | 1,687 | 685,309 | ||||||
Lotte Corp. (b) | 2,269 | 134,961 | ||||||
Lotte Food Co., Ltd. | 851 | 519,750 | ||||||
Lotte Shopping Co., Ltd. | 395 | 86,715 | ||||||
Medy-Tox, Inc. | 2,109 | 1,477,428 | ||||||
Mirae Asset Daewoo Co., Ltd. | 49,430 | 427,104 | ||||||
Modetour Network, Inc. | 51,997 | 1,895,190 | ||||||
Muhak Co., Ltd. | 30,610 | 495,377 | ||||||
NAVER Corp. | 4,083 | 3,010,825 | ||||||
NCSoft Corp. | 2,053 | 789,689 | ||||||
Netmarble Games Corp. (e) | 7,912 | 1,091,157 | ||||||
Nexon GT Co., Ltd. (b) | 24,901 | 265,153 | ||||||
NHN Entertainment Corp. (b) | 930 | 58,894 | ||||||
OCI Co., Ltd. | 1,666 | 246,954 | ||||||
Orientbio, Inc. (b) | 29,611 | 29,030 | ||||||
Orion Corp./Republic of Korea | 2,062 | 247,618 | ||||||
Orion Holdings Corp. | 673 | 16,953 | ||||||
Ottogi Corp. | 877 | 584,996 | ||||||
POSCO ADR (b) | 58,223 | 4,590,884 | ||||||
S-1 Corp. | 4,507 | 405,922 | ||||||
Sajo Industries Co., Ltd. | 19,041 | 1,221,882 | ||||||
Samsung Biologics Co., Ltd. (b) (e) | 2,037 | 928,776 | ||||||
Samsung C&T Corp. | 11,626 | 1,494,288 | ||||||
Samsung Electro-Mechanics Co., Ltd. | 6,957 | 698,376 | ||||||
Samsung Electronics Co., Ltd. GDR | 24,680 | 28,283,280 | ||||||
Samsung Electronics Co., Ltd. Preference Shares | 1,991 | 3,782,508 | ||||||
Samsung Engineering Co., Ltd. (b) | 16,209 | 281,327 | ||||||
Samsung Fire & Marine | ||||||||
Insurance Co., Ltd. | 3,346 | 841,287 | ||||||
Samsung Heavy Industries Co., Ltd. (b) | 32,465 | 240,008 |
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SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Samsung Life Insurance Co., Ltd. | 10,273 | $ | 1,113,173 | |||||
Samsung SDI Co., Ltd. | 7,452 | 1,335,334 | ||||||
Samsung SDS Co., Ltd. | 4,580 | 1,084,952 | ||||||
Shinhan Financial Group Co., Ltd. | 52,795 | 2,236,321 | ||||||
Shinsegae Food Co., Ltd. | 7,309 | 846,854 | ||||||
SillaJen, Inc. (b) | 9,223 | 926,713 | ||||||
SK Bioland Co., Ltd. | 33,881 | 657,976 | ||||||
SK Holdings Co., Ltd. | 3,274 | 916,867 | ||||||
SK Hynix, Inc. | 64,828 | 4,883,843 | ||||||
SK Innovation Co., Ltd. | 15,230 | 3,000,563 | ||||||
SK Telecom Co., Ltd. ADR | 74,948 | 1,811,493 | ||||||
S-Oil Corp. | 4,987 | 559,102 | ||||||
Woori Bank | 67,677 | 914,297 | ||||||
Youlchon Chemical Co., Ltd. | 28,000 | 422,929 | ||||||
Yungjin Pharmaceutical Co., Ltd. (b) (c) | 12,351 | 95,364 | ||||||
|
| |||||||
129,983,278 | ||||||||
|
| |||||||
SPAIN — 2.7% | ||||||||
Abertis Infraestructuras SA | 93,288 | 2,090,386 | ||||||
Acciona SA (c) | 3,324 | 252,313 | ||||||
Acerinox SA | 18,164 | 253,436 | ||||||
ACS Actividades de Construccion y Servicios SA | 25,979 | 1,011,226 | ||||||
Aena SME SA (e) | 9,431 | 1,898,130 | ||||||
Amadeus IT Group SA | 57,155 | 4,216,120 | ||||||
Atresmedia Corp. de Medios de Comunicacion SA (c) | 29,072 | 276,916 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 866,223 | 6,848,973 | ||||||
Banco de Sabadell SA | 611,210 | 1,248,569 | ||||||
Banco Santander SA | 2,053,626 | 13,373,332 | ||||||
Bankia SA (c) | 95,337 | 426,674 | ||||||
Bankinter SA (c) | 104,776 | 1,076,744 | ||||||
Bolsas y Mercados Espanoles SHMSF SA (c) | 8,512 | 287,883 | ||||||
CaixaBank SA | 445,837 | 2,123,067 | ||||||
Cellnex Telecom SA (e) | 19,020 | 507,367 | ||||||
Distribuidora Internacional de Alimentacion SA (c) | 97,913 | 415,082 | ||||||
Ebro Foods SA (c) | 13,199 | 335,370 | ||||||
Enagas SA | 28,961 | 791,781 | ||||||
Endesa SA | 39,416 | 866,989 | ||||||
Faes Farma SA | 36,224 | 132,314 | ||||||
Ferrovial SA | 55,839 | 1,165,048 | ||||||
Gas Natural SDG SA | 45,929 | 1,095,260 | ||||||
Grifols SA | 52,324 | 1,480,709 | ||||||
Grifols SA ADR | 32,272 | 684,166 | ||||||
Grifols SA Class B, Preference | ||||||||
Shares | 30,854 | 655,704 | ||||||
Iberdrola SA | 784,356 | 5,760,833 | ||||||
Indra Sistemas SA (b) | 63,849 | 881,833 | ||||||
Industria de Diseno Textil SA | 143,228 | 4,479,470 | ||||||
Inmobiliaria Colonial Socimi SA REIT | 37,346 | 431,742 | ||||||
Let’s GOWEX SA (a) (b) (c) | 4,019 | — | ||||||
Mapfre SA | 122,814 | 407,967 |
Security Description | Shares | Value | ||||||
Mediaset Espana Comunicacion SA | 25,652 | $ | 260,777 | |||||
Merlin Properties Socimi SA | 40,241 | 615,661 | ||||||
NH Hotel Group SA | 100,806 | 791,589 | ||||||
Pharma Mar SA (b) | 134,812 | 273,236 | ||||||
Red Electrica Corp. SA | 55,363 | 1,139,116 | ||||||
Repsol SA | 187,990 | 3,332,742 | ||||||
Sacyr SA | 67,230 | 179,504 | ||||||
Siemens Gamesa Renewable | ||||||||
Energy SA (c) | 28,531 | 457,032 | ||||||
Telefonica SA | 588,596 | 5,811,349 | ||||||
Viscofan SA | 5,380 | 371,191 | ||||||
|
| |||||||
68,707,601 | ||||||||
|
| |||||||
SWEDEN — 2.6% | ||||||||
Alfa Laval AB | 106,365 | 2,503,924 | ||||||
Arjo AB Class B (b) | 9,467 | 27,582 | ||||||
Assa Abloy AB Class B | 126,510 | 2,724,373 | ||||||
Atlas Copco AB Class A | 83,272 | 3,591,470 | ||||||
Atlas Copco AB Class B | 51,004 | 1,976,262 | ||||||
Bilia AB Class A | 38,454 | 339,781 | ||||||
BillerudKorsnas AB | 22,727 | 350,343 | ||||||
Boliden AB | 33,968 | 1,186,373 | ||||||
Castellum AB (c) | 34,013 | 554,374 | ||||||
Dometic Group AB (e) | 36,954 | 336,455 | ||||||
Electrolux AB Class B | 61,733 | 1,934,961 | ||||||
Elekta AB Class B | 33,247 | 353,558 | ||||||
Essity AB Class B (b) | 75,760 | 2,086,051 | ||||||
Fabege AB | 17,452 | 376,764 | ||||||
Fastighets AB Balder (b) | 12,095 | 302,707 | ||||||
Getinge AB Class B | 12,876 | 145,967 | ||||||
Hennes & Mauritz AB Class B (c) | 130,197 | 1,946,084 | ||||||
Hexagon AB Class B | 33,100 | 1,960,357 | ||||||
Hexpol AB | 39,864 | 368,186 | ||||||
Holmen AB Class B | 6,197 | 335,201 | ||||||
Husqvarna AB Class B | 52,583 | 505,311 | ||||||
ICA Gruppen AB (c) | 9,891 | 348,880 | ||||||
Industrivarden AB Class A | 24,808 | 600,738 | ||||||
Industrivarden AB Class C | 20,975 | 485,755 | ||||||
Indutrade AB | 11,147 | 286,435 | ||||||
Intrum Justitia AB (c) | 9,152 | 258,666 | ||||||
Investor AB Class B | 56,886 | 2,507,799 | ||||||
JM AB | 10,419 | 235,755 | ||||||
Karo Pharma AB (c) | 180,453 | 709,978 | ||||||
Kinnevik AB Class B | 41,112 | 1,474,667 | ||||||
KNOW IT AB | 48,904 | 981,023 | ||||||
L E Lundbergforetagen AB Class B | 4,584 | 327,319 | ||||||
Loomis AB Class B | 9,062 | 325,050 | ||||||
Lundin Petroleum AB (b) | 29,004 | 725,897 | ||||||
NetEnt AB (b) | 181,391 | 908,385 | ||||||
Nibe Industrier AB Class B | 48,151 | 454,326 | ||||||
Nordea Bank AB | 407,018 | 4,330,289 | ||||||
Opus Group AB (c) | 188,060 | 138,101 | ||||||
Qliro Group AB (b) | 146,948 | 214,067 | ||||||
SAAB AB Class B | 12,782 | 576,768 | ||||||
Sandvik AB | 196,462 | 3,576,280 | ||||||
Securitas AB Class B | 40,880 | 691,926 |
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SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Skandinaviska Enskilda Banken AB Class A (c) | 221,780 | $ | 2,315,571 | |||||
Skanska AB Class B | 51,039 | 1,040,002 | ||||||
SKF AB Class B (c) | 46,656 | 949,855 | ||||||
Svenska Cellulosa AB SCA Class B | 62,986 | 668,758 | ||||||
Svenska Handelsbanken AB Class A (c) | 189,970 | 2,363,623 | ||||||
Swedbank AB Class A (c) | 131,457 | 2,935,289 | ||||||
Swedish Match AB | 20,231 | 911,927 | ||||||
Swedish Orphan Biovitrum AB (b) | 28,134 | 500,377 | ||||||
Tele2 AB Class B | 109,293 | 1,306,980 | ||||||
Telefonaktiebolaget LM Ericsson Class B (c) | 482,072 | 3,046,192 | ||||||
Telia Co. AB | 323,529 | 1,514,731 | ||||||
Tethys Oil AB | 39,400 | 316,148 | ||||||
Trelleborg AB Class B | 31,004 | 776,692 | ||||||
Volvo AB Class A | 44,661 | 813,250 | ||||||
Volvo AB Class B (c) | 202,160 | 3,675,176 | ||||||
|
| |||||||
67,198,759 | ||||||||
|
| |||||||
SWITZERLAND — 6.9% | ||||||||
ABB, Ltd. | 255,676 | 6,066,164 | ||||||
Adecco Group AG | 38,201 | 2,712,686 | ||||||
Aryzta AG (b) (c) | 4,686 | 103,987 | ||||||
Baloise Holding AG | 6,289 | 959,506 | ||||||
Barry Callebaut AG | 364 | 710,058 | ||||||
Chocoladefabriken Lindt & Spruengli AG (d) | 42 | 259,868 | ||||||
Chocoladefabriken Lindt & Spruengli AG (d) | 5 | 362,886 | ||||||
Cie Financiere Richemont SA | 66,695 | 5,973,019 | ||||||
Clariant AG (b) | 36,453 | 868,309 | ||||||
Coca-Cola HBC AG (b) | 22,288 | 823,536 | ||||||
Comet Holding AG (b) | 6,971 | 962,371 | ||||||
Credit Suisse Group AG (b) | 270,048 | 4,509,260 | ||||||
Dufry AG (b) | 4,110 | 537,141 | ||||||
EMS-Chemie Holding AG | 842 | 530,207 | ||||||
Ferguson PLC | 45,893 | 3,446,836 | ||||||
Flughafen Zurich AG | 2,416 | 531,843 | ||||||
Geberit AG | 4,938 | 2,178,165 | ||||||
Georg Fischer AG | 451 | 601,898 | ||||||
Givaudan SA | 1,219 | 2,769,992 | ||||||
Glencore PLC (b) | 1,351,009 | 6,705,201 | ||||||
Idorsia, Ltd. (b) | 12,483 | 298,779 | ||||||
Julius Baer Group, Ltd. (b) | 42,013 | 2,577,113 | ||||||
Kuehne + Nagel International AG | 15,354 | 2,409,885 | ||||||
LafargeHolcim, Ltd. (b) (d) | 74,200 | 4,052,485 | ||||||
LafargeHolcim, Ltd. (b) (d) | 1,239 | 67,473 | ||||||
Leonteq AG (b) | 5,836 | 332,145 | ||||||
Logitech International SA | 21,476 | 784,044 | ||||||
Lonza Group AG (b) | 8,683 | 2,041,992 | ||||||
Meyer Burger Technology AG (b) (c) | 16,072 | 18,563 | ||||||
Nestle SA | 386,759 | 30,541,683 | ||||||
Novartis AG | 328,125 | 26,473,410 | ||||||
Partners Group Holding AG | 2,414 | 1,789,829 |
Security Description | Shares | Value | ||||||
PSP Swiss Property AG | 4,968 | $ | 483,519 | |||||
Roche Holding AG Bearer Shares | 3,302 | 764,812 | ||||||
Roche Holding AG | 93,196 | 21,323,354 | ||||||
Schindler Holding AG | 5,742 | 1,235,226 | ||||||
Schindler Holding AG | 2,936 | 613,200 | ||||||
SGS SA | 771 | 1,890,464 | ||||||
Sika AG | 366 | 2,860,808 | ||||||
Sonova Holding AG | 7,114 | 1,127,721 | ||||||
STMicroelectronics NV | 104,293 | 2,306,842 | ||||||
Straumann Holding AG | 1,266 | 795,877 | ||||||
Sulzer AG | 10,763 | 1,410,564 | ||||||
Swatch Group AG | 7,489 | 3,295,598 | ||||||
Swatch Group AG | 7,468 | 624,283 | ||||||
Swiss Life Holding AG (b) | 4,119 | 1,463,759 | ||||||
Swiss Prime Site AG (b) | 9,016 | 870,436 | ||||||
Swiss Re AG | 44,635 | 4,534,349 | ||||||
Swisscom AG (c) | 3,283 | 1,623,673 | ||||||
Temenos Group AG (b) | 12,365 | 1,477,189 | ||||||
u-blox Holding AG | 2,130 | 382,581 | ||||||
UBS Group AG (b) | 456,139 | 8,000,057 | ||||||
Vifor Pharma AG | 4,646 | 714,415 | ||||||
Zurich Insurance Group AG (b) | 21,607 | 7,071,464 | ||||||
|
| |||||||
177,870,525 | ||||||||
|
| |||||||
UNITED KINGDOM — 13.3% | ||||||||
3i Group PLC | 264,300 | 3,184,829 | ||||||
Admiral Group PLC | 31,248 | 808,312 | ||||||
Afren PLC (a) (c) | 55,933 | — | ||||||
Aggreko PLC | 27,705 | 285,344 | ||||||
Anglo American PLC | 197,924 | 4,611,730 | ||||||
Ashtead Group PLC | 55,910 | 1,521,553 | ||||||
Associated British Foods PLC | 45,484 | 1,589,381 | ||||||
AstraZeneca PLC | 172,777 | 11,865,300 | ||||||
Auto Trader Group PLC (e) | 94,904 | 466,758 | ||||||
Aviva PLC | 648,063 | 4,508,241 | ||||||
Avon Rubber PLC (c) | 58,480 | 1,041,854 | ||||||
Babcock International Group PLC (c) | 65,922 | 618,475 | ||||||
BAE Systems PLC | 398,264 | 3,248,193 | ||||||
Balfour Beatty PLC | 341,898 | 1,283,448 | ||||||
Barclays PLC | 1,775,397 | 5,142,938 | ||||||
Barratt Developments PLC | 204,969 | 1,525,062 | ||||||
BBA Aviation PLC | 149,656 | 672,640 | ||||||
Bellway PLC | 12,881 | 550,938 | ||||||
Berkeley Group Holdings PLC | 13,606 | 723,187 | ||||||
Big Yellow Group PLC REIT | 35,464 | 424,358 | ||||||
BP PLC | 2,467,608 | 16,589,529 | ||||||
British American Tobacco PLC | 283,584 | 16,433,599 | ||||||
British Land Co. PLC REIT | 220,070 | 1,981,945 | ||||||
Britvic PLC | 27,366 | 262,005 | ||||||
BT Group PLC | 1,201,404 | 3,834,125 | ||||||
BTG PLC (b) | 48,124 | 456,356 | ||||||
Bunzl PLC | 42,298 | 1,243,082 | ||||||
Burberry Group PLC | 69,860 | 1,662,073 | ||||||
Cairn Energy PLC (b) | 55,676 | 160,891 | ||||||
Capita PLC | 118,617 | 239,693 |
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SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Capital & Counties Properties PLC (c) | 94,470 | $ | 360,461 | |||||
Carnival PLC | 40,479 | 2,600,705 | ||||||
Centamin PLC | 289,612 | 627,074 | ||||||
Centrica PLC | 848,757 | 1,693,085 | ||||||
CNH Industrial NV | 126,685 | 1,562,710 | ||||||
Cobham PLC (b) | 221,781 | 382,360 | ||||||
Coca-Cola European Partners PLC | 29,378 | 1,223,888 | ||||||
Compass Group PLC | 212,912 | 4,347,185 | ||||||
Croda International PLC | 9,168 | 587,485 | ||||||
CYBG PLC | 93,980 | 388,551 | ||||||
Daily Mail & General Trust PLC | 28,950 | 262,347 | ||||||
DCC PLC | 10,807 | 994,500 | ||||||
Derwent London PLC | 14,426 | 627,745 | ||||||
Diageo PLC | 345,741 | 11,698,332 | ||||||
Dialog Semiconductor PLC (b) | 9,953 | 236,184 | ||||||
Direct Line Insurance Group PLC | 182,296 | 975,079 | ||||||
Dixons Carphone PLC | 129,287 | 338,334 | ||||||
Drax Group PLC | 48,911 | 188,410 | ||||||
DS Smith PLC | 70,170 | 463,233 | ||||||
easyJet PLC | 31,885 | 717,665 | ||||||
Experian PLC | 141,047 | 3,042,109 | ||||||
Fiat Chrysler Automobiles NV | 135,862 | 2,757,318 | ||||||
Firstgroup PLC (b) | 440,401 | 507,209 | ||||||
Foxtons Group PLC | 46,335 | 52,844 | ||||||
G4S PLC | 461,555 | 1,606,372 | ||||||
GKN PLC | 215,904 | 1,402,289 | ||||||
GlaxoSmithKline PLC | 662,371 | 12,952,686 | ||||||
Grafton Group PLC | 27,691 | 299,106 | ||||||
Great Portland Estates PLC REIT | 35,864 | 335,018 | ||||||
Greene King PLC | 39,034 | 258,124 | ||||||
Halma PLC | 48,200 | 797,180 | ||||||
Hammerson PLC REIT | 93,760 | 705,771 | ||||||
Hansteen Holdings PLC REIT | 53,836 | 96,365 | ||||||
Hargreaves Lansdown PLC | 25,019 | 573,128 | ||||||
Hays PLC | 176,066 | 465,074 | ||||||
Hiscox, Ltd. | 37,277 | 761,374 | ||||||
HomeServe PLC | 50,972 | 527,696 | ||||||
Howden Joinery Group PLC | 75,543 | 488,318 | ||||||
HSBC Holdings PLC | 2,609,645 | 24,359,030 | ||||||
IG Group Holdings PLC | 46,048 | 515,154 | ||||||
IMI PLC | 29,377 | 445,069 | ||||||
Imperial Brands PLC | 121,684 | 4,141,141 | ||||||
Inchcape PLC | 52,759 | 511,411 | ||||||
Indivior PLC (b) | 102,350 | 585,218 | ||||||
Informa PLC | 95,813 | 965,845 | ||||||
Inmarsat PLC | 38,997 | 198,087 | ||||||
InterContinental Hotels Group PLC | 26,458 | 1,584,080 | ||||||
International Consolidated Airlines Group SA | 86,132 | 742,596 | ||||||
International Personal Finance PLC | 42,662 | 137,287 | ||||||
Intertek Group PLC | 21,291 | 1,391,803 | ||||||
Intu Properties PLC REIT (c) | 100,785 | 293,649 |
Security Description | Shares | Value | ||||||
ITV PLC | 462,410 | $ | 935,056 | |||||
J Sainsbury PLC | 311,256 | 1,042,672 | ||||||
John Wood Group PLC | 132,092 | 1,000,613 | ||||||
Johnson Matthey PLC | 25,208 | 1,075,705 | ||||||
Just Eat PLC (b) | 65,552 | 642,223 | ||||||
Keller Group PLC | 12,792 | 156,118 | ||||||
Kingfisher PLC | 494,487 | 2,028,974 | ||||||
Land Securities Group PLC REIT | 155,820 | 2,048,353 | ||||||
Legal & General Group PLC | 746,114 | 2,698,260 | ||||||
Lloyds Banking Group PLC | 8,848,625 | 8,026,150 | ||||||
London Stock Exchange Group PLC | 39,334 | 2,276,633 | ||||||
Lonmin PLC (b) (c) | 25,523 | 20,802 | ||||||
Man Group PLC | 348,021 | 837,758 | ||||||
Marks & Spencer Group PLC | 317,096 | 1,201,910 | ||||||
Meggitt PLC | 79,881 | 483,862 | ||||||
Melrose Industries PLC (c) | 231,620 | 750,557 | ||||||
Micro Focus International PLC | 54,674 | 756,843 | ||||||
National Grid PLC | 504,969 | 5,682,548 | ||||||
NEX Group PLC | 116,080 | 1,597,431 | ||||||
Next PLC | 26,930 | 1,797,827 | ||||||
Ocado Group PLC (b) (c) | 50,485 | 375,914 | ||||||
Old Mutual PLC | 951,704 | 3,194,776 | ||||||
Ophir Energy PLC (b) | 74,801 | 55,194 | ||||||
Pearson PLC | 150,551 | 1,581,835 | ||||||
Pennon Group PLC | 52,598 | 474,729 | ||||||
Persimmon PLC | 30,611 | 1,086,410 | ||||||
Petrofac, Ltd. | 30,196 | 214,675 | ||||||
Provident Financial PLC (c) | 8,327 | 79,619 | ||||||
Prudential PLC | 322,109 | 8,036,232 | ||||||
Randgold Resources, Ltd. | 21,910 | 1,807,853 | ||||||
Reckitt Benckiser Group PLC | 83,659 | 7,081,312 | ||||||
RELX NV | 133,553 | 2,764,331 | ||||||
RELX PLC | 154,452 | 3,174,146 | ||||||
Rentokil Initial PLC | 233,391 | 889,548 | ||||||
Rightmove PLC | 12,888 | 785,907 | ||||||
Rio Tinto PLC | 149,144 | 7,554,905 | ||||||
Rio Tinto, Ltd. | 49,736 | 2,773,505 | ||||||
Rolls-Royce Holdings PLC (b) | 275,189 | 3,364,682 | ||||||
Royal Bank of Scotland Group PLC (b) | 411,223 | 1,492,923 | ||||||
Royal Mail PLC | 57,692 | 437,671 | ||||||
RPC Group PLC | 51,448 | 558,028 | ||||||
RSA Insurance Group PLC | 172,329 | 1,522,982 | ||||||
Sage Group PLC | 141,585 | 1,269,550 | ||||||
Schroders PLC | 14,445 | 646,809 | ||||||
Segro PLC REIT | 119,015 | 1,003,729 | ||||||
Serco Group PLC (b) | 228,499 | 282,715 | ||||||
Severn Trent PLC | 30,172 | 780,478 | ||||||
Shaftesbury PLC | 35,195 | 484,829 | ||||||
Shire PLC | 114,247 | 5,722,287 | ||||||
Sky PLC | 168,546 | 3,067,761 | ||||||
Smith & Nephew PLC | 120,731 | 2,254,201 | ||||||
Smiths Group PLC | 124,279 | 2,638,614 | ||||||
Spirax-Sarco Engineering PLC | 9,140 | 737,883 | ||||||
Sports Direct International PLC (b) | 19,816 | 102,185 |
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SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SSE PLC | 192,300 | $ | 3,442,118 | |||||
St James’s Place PLC | 65,995 | 1,005,858 | ||||||
Standard Chartered PLC | 367,041 | 3,669,586 | ||||||
Standard Life Aberdeen PLC | 535,137 | 2,700,233 | ||||||
TalkTalk Telecom Group PLC | 54,952 | 89,266 | ||||||
Tate & Lyle PLC | 114,929 | 878,017 | ||||||
Taylor Wimpey PLC | 310,917 | 805,141 | ||||||
Telecom Plus PLC | 7,905 | 135,509 | ||||||
Tesco PLC | 1,377,223 | 3,977,923 | ||||||
Thomas Cook Group PLC | 135,344 | 224,415 | ||||||
TP ICAP PLC | 73,803 | 462,576 | ||||||
Travis Perkins PLC | 20,230 | 350,192 | ||||||
Trinity Mirror PLC | 59,669 | 66,544 | ||||||
Tullow Oil PLC (b) | 228,844 | 629,204 | ||||||
UBM PLC | 49,720 | 654,229 | ||||||
Unilever NV | 214,288 | 12,088,680 | ||||||
Unilever PLC | 185,129 | 10,272,392 | ||||||
United Utilities Group PLC | 89,597 | 899,162 | ||||||
Victrex PLC | 12,017 | 432,899 | ||||||
Vodafone Group PLC | 3,630,455 | 9,891,241 | ||||||
Weir Group PLC | 14,513 | 406,057 | ||||||
Whitbread PLC | 23,959 | 1,243,558 | ||||||
William Hill PLC | 181,572 | 841,305 | ||||||
Wm Morrison Supermarkets PLC | 497,770 | 1,490,810 | ||||||
Workspace Group PLC REIT | 29,787 | 414,509 | ||||||
WPP PLC | 169,409 | 2,691,352 | ||||||
|
| |||||||
343,830,812 | ||||||||
|
| |||||||
UNITED STATES — 0.2% | ||||||||
Argonaut Gold, Inc. (b) | 44,443 | 84,801 | ||||||
Flex, Ltd. (b) | 174,046 | 2,842,171 | ||||||
ICON PLC (b) | 7,776 | 918,657 | ||||||
REC Silicon ASA (b) | 383,191 | 73,017 | ||||||
Stratasys, Ltd. (b) (c) | 5,861 | 118,275 | ||||||
Tahoe Resources, Inc. | 18,178 | 85,303 | ||||||
Worldpay, Inc. Class A (b) | 377 | 30,393 | ||||||
|
| |||||||
4,152,617 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 2,571,975,742 | |||||||
|
| |||||||
WARRANTS — 0.0% (f) | ||||||||
FRANCE — 0.0% (f) | ||||||||
CGG SA (expiring 2/21/22) (b) (c) | 4,461 | 1,810 | ||||||
CGG SA (expiring 2/21/23) (b) (c) | 14,495 | 2,514 | ||||||
|
| |||||||
TOTAL WARRANTS | 4,324 | |||||||
|
| |||||||
RIGHTS — 0.0% (f) | ||||||||
ITALY — 0.0% (f) | ||||||||
Immobiliare Grande Distribuzione SIIQ SpA (expiring 04/13/18) (b) | 48,911 | 52,009 | ||||||
|
|
Security Description | Shares | Value | ||||||
SOUTH KOREA — 0.0% (f) | ||||||||
Samsung Heavy Industries Co., Ltd. (expires 4/13/18) (b) | 16,450 | $ | 32,023 | |||||
|
| |||||||
UNITED KINGDOM — 0.0% (f) | ||||||||
Provident Financial PLC (expiring 4/9/18) (b) (c) | 5,756 | 29,957 | ||||||
|
| |||||||
TOTAL RIGHTS | 113,989 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 2.6% | ||||||||
State Street Institutional | 2,509,422 | 2,509,422 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (h) (j) | 65,277,407 | 65,277,407 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS | 67,786,829 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 102.0% | 2,639,880,884 | |||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.0)% | (50,947,933 | ) | ||||||
|
| |||||||
NET ASSETS — 100.0% | $ | 2,588,932,951 | ||||||
|
|
(a) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $0, representing 0.0% of the Fund’s net assets. |
(b) | Non-income producing security. |
(c) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(d) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(e) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.5% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(f) | Amount is less than 0.05% of net assets. |
(g) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $65,925, representing less than 0.05% of net assets. |
(h) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(i) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(j) | Investment of cash collateral for securities loaned. |
105
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
ADR =American Depositary Receipt
GDR =Global Depositary Receipt
REIT =Real Estate Investment Trust
SDR =Swedish Depositary Receipt
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
INVESTMENTS: | ||||||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | $ | 145,299,080 | $ | — | $ | 0 | (a) | $ | 145,299,080 | |||||||||||
Austria | 8,667,184 | — | — | 8,667,184 | ||||||||||||||||
Belgium | 30,204,666 | — | — | 30,204,666 | ||||||||||||||||
Canada | 199,571,091 | — | — | 199,571,091 | ||||||||||||||||
Chile | 564,078 | — | — | 564,078 | ||||||||||||||||
China | 1,454,522 | — | — | 1,454,522 | ||||||||||||||||
Denmark | 36,787,018 | — | — | 36,787,018 | ||||||||||||||||
Finland | 22,415,427 | — | — | 22,415,427 | ||||||||||||||||
France | 208,691,149 | — | — | 208,691,149 | ||||||||||||||||
Germany | 200,957,194 | — | — | 200,957,194 | ||||||||||||||||
Hong Kong | 74,724,692 | — | — | 74,724,692 | ||||||||||||||||
Ireland | 13,827,590 | — | 0 | (a) | 13,827,590 | |||||||||||||||
Israel | 13,553,579 | — | — | 13,553,579 | ||||||||||||||||
Italy | 52,470,131 | — | — | 52,470,131 | ||||||||||||||||
Japan | 603,806,433 | — | — | 603,806,433 | ||||||||||||||||
Jordan | 300,930 | — | — | 300,930 | ||||||||||||||||
Luxembourg | 4,921,092 | — | — | 4,921,092 | ||||||||||||||||
Macau | 621,230 | — | — | 621,230 | ||||||||||||||||
Malta | 746,969 | — | — | 746,969 | ||||||||||||||||
Mexico | 448,831 | — | — | 448,831 | ||||||||||||||||
Netherlands | 96,005,511 | 13,495 | — | 96,019,006 | ||||||||||||||||
New Zealand | 7,039,646 | — | — | 7,039,646 | ||||||||||||||||
Norway | 18,432,640 | — | — | 18,432,640 | ||||||||||||||||
Portugal | 4,857,592 | — | — | 4,857,592 | ||||||||||||||||
Singapore | 30,771,879 | 52,430 | — | 30,824,309 | ||||||||||||||||
South Africa | 3,026,071 | — | — | 3,026,071 | ||||||||||||||||
South Korea | 129,983,278 | — | 0 | (a) | 129,983,278 | |||||||||||||||
Spain | 68,707,601 | — | 0 | (a) | 68,707,601 | |||||||||||||||
Sweden | 67,198,759 | — | — | 67,198,759 | ||||||||||||||||
Switzerland | 177,870,525 | — | — | 177,870,525 | ||||||||||||||||
United Kingdom | 343,830,812 | — | 0 | (a) | 343,830,812 | |||||||||||||||
United States | 4,152,617 | — | — | 4,152,617 | ||||||||||||||||
Warrants | ||||||||||||||||||||
France | 4,324 | — | — | 4,324 | ||||||||||||||||
Rights | ||||||||||||||||||||
Italy | 52,009 | — | — | 52,009 | ||||||||||||||||
South Korea | 32,023 | — | — | 32,023 | ||||||||||||||||
United Kingdom | 29,957 | — | — | 29,957 | ||||||||||||||||
Short-Term Investments | 67,786,829 | — | — | 67,786,829 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL INVESTMENTS | $ | 2,639,814,959 | $ | 65,925 | $ | 0 | $ | 2,639,880,884 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
106
Table of Contents
SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 1,169,081 | $ | 1,169,081 | $ | 9,556,166 | $ | 7,046,744 | $ | — | $ | — | 2,509,422 | $ | 2,509,422 | $ | 28,979 | $ | — | ||||||||||||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 22,963,226 | 22,963,226 | 224,925,176 | 182,610,995 | — | — | 65,277,407 | 65,277,407 | 283,601 | — | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||
Total | $ | 24,132,307 | $ | 234,481,342 | $ | 189,657,739 | $ | — | $ | — | $ | 67,786,829 | $ | 312,580 | $ | — | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
107
Table of Contents
SPDR S&P CHINA ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.9% | ||||||||
AEROSPACE & DEFENSE — 0.1% |
| |||||||
AviChina Industry & Technology Co., Ltd. Class H (a) | 1,728,000 | $ | 1,217,568 | |||||
|
| |||||||
AIR FREIGHT & LOGISTICS — 0.2% | ||||||||
Sinotrans, Ltd. Class H | 824,000 | 452,511 | ||||||
ZTO Express Cayman, Inc. ADR (a) | 123,794 | 1,855,672 | ||||||
|
| |||||||
2,308,183 | ||||||||
|
| |||||||
AIRLINES — 0.4% | ||||||||
Air China, Ltd. Class H | 1,582,000 | 2,015,723 | ||||||
China Eastern Airlines Corp., Ltd. Class H | 1,516,000 | 1,101,028 | ||||||
China Southern Airlines Co., Ltd. Class H | 1,210,000 | 1,248,806 | ||||||
Shandong Airlines Co., Ltd. Class B | 106,000 | 199,485 | ||||||
|
| |||||||
4,565,042 | ||||||||
|
| |||||||
AUTO COMPONENTS — 0.5% | ||||||||
China First Capital Group, Ltd. (b) | 518,000 | 243,546 | ||||||
Fuyao Glass Industry Group Co., Ltd. Class H (c) | 186,000 | 716,907 | ||||||
Minth Group, Ltd. | 636,000 | 2,897,060 | ||||||
Xinyi Glass Holdings, Ltd. | 1,044,000 | 1,572,325 | ||||||
|
| |||||||
5,429,838 | ||||||||
|
| |||||||
AUTOMOBILES — 2.3% | ||||||||
BAIC Motor Corp., Ltd. Class H (c) | 925,400 | 1,134,303 | ||||||
Brilliance China Automotive Holdings, Ltd. | 1,688,000 | 3,522,985 | ||||||
Byd Co., Ltd. Class H (a) | 429,000 | 3,345,285 | ||||||
Chongqing Changan Automobile Co., Ltd. Class B | 727,300 | 727,458 | ||||||
Dongfeng Motor Group Co., Ltd. Class H | 2,149,300 | 2,494,823 | ||||||
Geely Automobile Holdings, Ltd. | 3,254,000 | 9,370,233 | ||||||
Great Wall Motor Co., Ltd. Class H (a) | 2,363,000 | 2,369,534 | ||||||
Guangzhou Automobile Group Co., Ltd. Class H | 1,612,637 | 2,971,182 | ||||||
Qingling Motors Co., Ltd. Class H | 2,508,000 | 821,268 | ||||||
|
| |||||||
26,757,071 | ||||||||
|
| |||||||
BANKS — 15.4% | ||||||||
Agricultural Bank of China, Ltd. Class H | 17,007,000 | 9,664,669 | ||||||
Bank of China, Ltd. Class H | 47,648,700 | 25,620,518 | ||||||
Bank of Chongqing Co., Ltd. Class H | 1,240,500 | 964,164 | ||||||
Bank of Communications Co., Ltd. Class H | 14,645,824 | 11,476,602 | ||||||
China CITIC Bank Corp., Ltd. Class H | 7,176,471 | 4,901,174 | ||||||
China Construction Bank Corp. Class H | 66,318,623 | 68,107,501 | ||||||
China Merchants Bank Co., Ltd. Class H | 2,452,235 | 10,045,406 |
Security Description | Shares | Value | ||||||
China Minsheng Banking Corp., Ltd. Class H | 4,654,800 | $ | 4,525,327 | |||||
Chongqing Rural Commercial Bank Co., Ltd. Class H | 1,864,000 | 1,427,397 | ||||||
Huishang Bank Corp., Ltd. Class H | 1,737,000 | 854,302 | ||||||
Industrial & Commercial Bank of China, Ltd. Class H | 48,386,789 | 41,492,182 | ||||||
Postal Savings Bank of China Co., Ltd. Class H (c) | 2,132,000 | 1,339,240 | ||||||
Shengjing Bank Co., Ltd. Class H (c) | 561,500 | 419,249 | ||||||
|
| |||||||
180,837,731 | ||||||||
|
| |||||||
BEVERAGES — 0.5% | ||||||||
China Resources Beer Holdings Co., Ltd. | 1,053,667 | 4,564,642 | ||||||
Tibet Water Resources, Ltd. (b) | 1,461,000 | 578,942 | ||||||
Tsingtao Brewery Co., Ltd. Class H | 213,000 | 1,112,725 | ||||||
|
| |||||||
6,256,309 | ||||||||
|
| |||||||
BIOTECHNOLOGY — 0.6% | ||||||||
3SBio, Inc. (a) (b) (c) | 545,000 | 1,227,731 | ||||||
BeiGene, Ltd. ADR (b) | 26,792 | 4,501,056 | ||||||
China Biologic Products Holdings, Inc. (b) | 10,998 | 890,838 | ||||||
Shanghai Haohai Biological Technology Co., Ltd. Class H (c) | 15,700 | 98,221 | ||||||
|
| |||||||
6,717,846 | ||||||||
|
| |||||||
BUILDING PRODUCTS — 0.0% (d) |
| |||||||
China Lesso Group Holdings, Ltd. | 356,000 | 270,800 | ||||||
|
| �� | ||||||
CAPITAL MARKETS — 1.6% | ||||||||
Central China Securities Co., Ltd. Class H (a) | 360,000 | 134,399 | ||||||
China Cinda Asset Management Co., Ltd. Class H | 7,265,200 | 2,638,255 | ||||||
China Everbright, Ltd. | 648,000 | 1,357,379 | ||||||
China Financial International Investments, Ltd. (a) (b) | 4,010,000 | 137,953 | ||||||
China Galaxy Securities Co., Ltd. Class H | 2,097,000 | 1,394,740 | ||||||
China Huarong Asset Management Co., Ltd. Class H (c) | 5,286,000 | 2,222,622 | ||||||
CITIC Securities Co., Ltd. Class H | 1,394,500 | 3,191,165 | ||||||
GF Securities Co., Ltd. Class H | 1,074,200 | 1,973,671 | ||||||
Guotai Junan International Holdings, Ltd. (a) | 1,776,000 | 511,418 | ||||||
Haitong Securities Co., Ltd. Class H | 2,015,400 | 2,665,527 | ||||||
Huatai Securities Co., Ltd. Class H (c) | 711,200 | 1,368,337 | ||||||
Noah Holdings, Ltd. ADS (b) | 15,494 | 731,472 | ||||||
Shenwan Hongyuan HK, Ltd. (a) | 505,000 | 155,072 | ||||||
|
| |||||||
18,482,010 | ||||||||
|
| |||||||
CHEMICALS — 0.2% | ||||||||
China BlueChemical, Ltd. Class H | 2,022,000 | 566,798 | ||||||
China Lumena New Materials Corp. (a) (b) (e) | 3,564,548 | — | ||||||
Fufeng Group, Ltd. (a) | 564,000 | 334,161 |
108
Table of Contents
SPDR S&P CHINA ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Sinopec Shanghai Petrochemical Co., Ltd. Class H | 2,801,999 | $ | 1,702,985 | |||||
|
| |||||||
2,603,944 | ||||||||
|
| |||||||
COMMERCIAL SERVICES & SUPPLIES — 0.8% |
| |||||||
China Everbright International, Ltd. | 1,933,000 | 2,709,249 | ||||||
China Evergrande Group (a) (b) | 2,151,600 | 6,771,469 | ||||||
Dongjiang Environmental Co., Ltd. Class H (a) | 151,600 | 203,594 | ||||||
|
| |||||||
9,684,312 | ||||||||
|
| |||||||
COMMUNICATIONS EQUIPMENT — 0.4% |
| |||||||
BYD Electronic International Co., Ltd. (a) | 517,000 | 969,668 | ||||||
China All Access Holdings, Ltd. | 1,268,000 | 403,909 | ||||||
China Fiber Optic Network System Group, Ltd. (b) (e) | 1,131,600 | — | ||||||
Comba Telecom Systems Holdings, Ltd. (a) | 1,398,310 | 187,076 | ||||||
Shanghai Potevio Co., Ltd. Class B (b) | 264,700 | 108,262 | ||||||
Yangtze Optical Fibre and Cable Joint Stock, Ltd. Co. Class H (c) | 176,000 | 814,036 | ||||||
ZTE Corp. Class H (a) (b) | 584,597 | 1,903,145 | ||||||
|
| |||||||
4,386,096 | ||||||||
|
| |||||||
CONSTRUCTION & ENGINEERING — 0.8% |
| |||||||
China Communications Construction Co., Ltd. Class H | 3,002,394 | 3,083,381 | ||||||
China Machinery Engineering Corp. Class H | 459,000 | 243,293 | ||||||
China Railway Construction Corp., Ltd. Class H | 1,208,875 | 1,210,677 | ||||||
China Railway Group, Ltd. Class H | 2,689,000 | 1,863,864 | ||||||
China Singyes Solar Technologies Holdings, Ltd. (a) | 368,000 | 134,572 | ||||||
China State Construction International Holdings, Ltd. | 1,176,000 | 1,435,480 | ||||||
Concord New Energy Group, Ltd. | 3,560,000 | 161,029 | ||||||
Metallurgical Corp. of China, Ltd. Class H | 1,634,000 | 466,363 | ||||||
Sinopec Engineering Group Co., Ltd. Class H | 1,083,000 | 1,077,715 | ||||||
|
| |||||||
9,676,374 | ||||||||
|
| |||||||
CONSTRUCTION MATERIALS — 0.8% |
| |||||||
Anhui Conch Cement Co., Ltd. Class H | 851,500 | 4,638,154 | ||||||
BBMG Corp. Class H (a) | 1,301,000 | 586,820 | ||||||
China National Building Material Co., Ltd. Class H (a) | 2,326,000 | 2,525,071 | ||||||
China Resources Cement Holdings, Ltd. | 801,163 | 692,110 | ||||||
China Shanshui Cement Group, Ltd. (a) (b) (e) | 1,896,000 | 90,593 | ||||||
CSG Holding Co., Ltd. Class B | 446,200 | 255,839 | ||||||
|
| |||||||
8,788,587 | ||||||||
|
|
Security Description | Shares | Value | ||||||
CONSUMER FINANCE — 0.2% | ||||||||
China Financial Services Holdings, Ltd. | 2,990,000 | $ | 251,443 | |||||
Chong Sing Holdings FinTech Gr (a) (b) | 15,842,900 | 2,079,200 | ||||||
|
| |||||||
2,330,643 | ||||||||
|
| |||||||
CONTAINERS & PACKAGING — 0.1% |
| |||||||
Beijing Enterprises Clean Energy Group, Ltd. (b) | 9,505,714 | 308,851 | ||||||
Greatview Aseptic Packaging Co., Ltd. | 456,000 | 306,777 | ||||||
|
| |||||||
615,628 | ||||||||
|
| |||||||
DISTRIBUTORS — 0.0% (d) | ||||||||
Qianhai Health Holdings, Ltd. (a) (b) | 11,000,000 | 110,725 | ||||||
Xinhua Winshare Publishing and Media Co., Ltd. Class H | 593,000 | 473,747 | ||||||
|
| |||||||
584,472 | ||||||||
|
| |||||||
DIVERSIFIED CONSUMER SERVICES — 1.4% |
| |||||||
China Maple Leaf Educational Systems, Ltd. | 456,000 | 611,230 | ||||||
Fu Shou Yuan International Group, Ltd. | 723,000 | 716,708 | ||||||
New Oriental Education & Technology Group, Inc. ADR | 86,975 | 7,623,359 | ||||||
TAL Education Group ADR | 189,262 | 7,019,728 | ||||||
|
| |||||||
15,971,025 | ||||||||
|
| |||||||
DIVERSIFIED FINANCIAL SERVICES — 0.1% |
| |||||||
Far East Horizon, Ltd. | 1,161,000 | 1,227,820 | ||||||
|
| |||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.9% |
| |||||||
China Communications Services Corp., Ltd. Class H | 2,179,600 | 1,302,489 | ||||||
China Telecom Corp., Ltd. Class H | 9,424,951 | 4,155,082 | ||||||
China Unicom Hong Kong, Ltd. (b) | 3,855,805 | 4,863,788 | ||||||
CITIC Telecom International Holdings, Ltd. | 1,169,000 | 338,115 | ||||||
|
| |||||||
10,659,474 | ||||||||
|
| |||||||
ELECTRICAL EQUIPMENT — 0.3% |
| |||||||
Dongfang Electric Corp., Ltd. Class H (b) | 247,800 | 192,915 | ||||||
Shanghai Electric Group Co., Ltd. Class H (a) (b) | 2,122,000 | 735,425 | ||||||
Tech Pro Technology Development, Ltd. (b) (f) | 4,481,396 | 38,828 | ||||||
Xinjiang Goldwind Science & Technology Co., Ltd. Class H (a) | 359,160 | 575,696 | ||||||
Zhuzhou CRRC Times Electric Co., Ltd. Class H | 430,100 | 2,082,464 | ||||||
|
| |||||||
3,625,328 | ||||||||
|
| |||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 1.8% |
| |||||||
AAC Technologies Holdings, Inc. | 466,745 | 8,421,071 |
109
Table of Contents
SPDR S&P CHINA ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Anxin-China Holdings, Ltd. (b) (e) | 3,068,000 | $ | — | |||||
AVIC International Holdings, Ltd. Class H | 267,982 | 182,677 | ||||||
China Soft Power Technology Holdings, Ltd. (a) (b) | 2,219,000 | 34,494 | ||||||
Dongxu Optoelectronic Technology Co., Ltd. Class B | 1,410,700 | 839,414 | ||||||
FIT Hon Teng, Ltd. (a) (c) | 807,000 | 369,141 | ||||||
Ju Teng International Holdings, Ltd. | 1,052,000 | 260,041 | ||||||
Kingboard Chemical Holdings, Ltd. | 550,999 | 2,516,891 | ||||||
Kingboard Laminates Holdings, Ltd. | 338,000 | 490,098 | ||||||
Sunny Optical Technology Group Co., Ltd. | 429,000 | 7,920,454 | ||||||
Wasion Group Holdings, Ltd. (a) | 358,000 | 182,460 | ||||||
|
| |||||||
21,216,741 | ||||||||
|
| |||||||
ENERGY EQUIPMENT & SERVICES — 0.1% |
| |||||||
Anton Oilfield Services Group (a) (b) | 928,000 | 114,695 | ||||||
China Oilfield Services, Ltd. Class H | 1,257,900 | 1,296,639 | ||||||
Hilong Holding, Ltd. | 672,000 | 101,892 | ||||||
Sinopec Oilfield Service Corp. Class H (a) (b) | 1,288,000 | 193,652 | ||||||
|
| |||||||
1,706,878 | ||||||||
|
| |||||||
FOOD & STAPLES RETAILING — 0.1% |
| |||||||
Sun Art Retail Group, Ltd. | 1,439,000 | 1,674,002 | ||||||
|
| |||||||
FOOD PRODUCTS — 1.9% | ||||||||
China Agri-Industries Holdings, Ltd. | 1,641,600 | 721,624 | ||||||
China Huishan Dairy Holdings Co., Ltd. (a) (b) (e) | 2,729,000 | — | ||||||
China Huiyuan Juice Group, Ltd. (b) | 701,000 | 180,424 | ||||||
China Mengniu Dairy Co., Ltd. | 1,839,220 | 6,303,915 | ||||||
China Yurun Food Group, Ltd. (b) | 1,139,000 | 152,383 | ||||||
CP Pokphand Co., Ltd. | 3,204,000 | 249,027 | ||||||
Health and Happiness H&H International Holdings, Ltd. (b) | 159,500 | 1,214,292 | ||||||
Tingyi Cayman Islands Holding Corp. | 1,341,844 | 2,783,434 | ||||||
Uni-President China Holdings, Ltd. | 1,234,400 | 1,067,948 | ||||||
Want Want China Holdings, Ltd. | 4,719,933 | 3,782,778 | ||||||
WH Group, Ltd. (c) | 4,820,106 | 5,134,371 | ||||||
YuanShengTai Dairy Farm, Ltd. (a) (b) | 2,308,000 | 102,927 | ||||||
|
| |||||||
21,693,123 | ||||||||
|
| |||||||
GAS UTILITIES — 0.7% | ||||||||
China Gas Holdings, Ltd. | 1,500,000 | 5,456,595 | ||||||
China Oil & Gas Group, Ltd. | 1,616,000 | 129,720 | ||||||
China Resources Gas Group, Ltd. | 645,000 | 2,239,498 | ||||||
|
| |||||||
7,825,813 | ||||||||
|
|
Security Description | Shares | Value | ||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 0.1% |
| |||||||
Shandong Weigao Group Medical Polymer Co., Ltd. Class H | 1,692,000 | $ | 1,127,526 | |||||
Yestar Healthcare Holdings Co., Ltd. (a) | 695,000 | 241,753 | ||||||
|
| |||||||
1,369,279 | ||||||||
|
| |||||||
HEALTH CARE PROVIDERS & SERVICES — 0.5% |
| |||||||
China Resources Phoenix Healthcare Holdings Co., Ltd. (a) | 421,000 | 507,992 | ||||||
Shanghai Pharmaceuticals Holding Co., Ltd. Class H | 709,600 | 1,898,704 | ||||||
Sinopharm Group Co., Ltd. Class H | 771,600 | 3,863,751 | ||||||
|
| |||||||
6,270,447 | ||||||||
|
| |||||||
HOTELS, RESTAURANTS & LEISURE — 1.3% |
| |||||||
Ajisen China Holdings, Ltd. | 458,000 | 215,919 | ||||||
China Lodging Group, Ltd. ADR | 18,551 | 2,443,352 | ||||||
China Travel International Investment Hong Kong, Ltd. | 3,034,000 | 1,074,694 | ||||||
Imperial Pacific International Holdings, Ltd. (a) (b) | 29,330,300 | 366,241 | ||||||
Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H | 1,216,187 | 497,428 | ||||||
Yum China Holdings, Inc. | 243,244 | 10,094,626 | ||||||
|
| |||||||
14,692,260 | ||||||||
|
| |||||||
HOUSEHOLD DURABLES — 0.4% | ||||||||
Haier Electronics Group Co., Ltd. | 941,000 | 3,351,165 | ||||||
Hisense Kelon Electrical Holdings Co., Ltd. Class H | 295,000 | 336,411 | ||||||
Skyworth Digital Holdings, Ltd. | 1,715,423 | 771,561 | ||||||
|
| |||||||
4,459,137 | ||||||||
|
| |||||||
HOUSEHOLD PRODUCTS — 0.1% | ||||||||
Vinda International Holdings, Ltd. | 434,000 | 764,227 | ||||||
|
| |||||||
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 1.0% |
| |||||||
Beijing Jingneng Clean Energy Co., Ltd. Class H | 1,178,000 | 286,684 | ||||||
CGN PowerCo.,Ltd.Class H (a) (c) | 7,947,000 | 2,055,529 | ||||||
China Datang Corp. Renewable Power Co., Ltd. Class H | 1,919,000 | 259,182 | ||||||
China Longyuan Power Group Corp., Ltd. Class H | 2,365,000 | 1,814,062 | ||||||
China Power International Development, Ltd. | 2,369,000 | 609,734 | ||||||
China Resources Power Holdings Co., Ltd. | 1,262,092 | 2,302,812 | ||||||
Datang International Power Generation Co., Ltd. Class H (b) | 3,036,287 | 909,149 | ||||||
Huadian Fuxin Energy Corp., Ltd. Class H | 1,850,000 | 473,797 |
110
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SPDR S&P CHINA ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Huadian Power International Corp., Ltd. Class H | 984,000 | $ | 378,640 | |||||
Huaneng Power International, Inc. Class H | 2,732,129 | 1,834,578 | ||||||
Huaneng Renewables Corp., Ltd. Class H | 2,554,000 | 953,483 | ||||||
|
| |||||||
11,877,650 | ||||||||
|
| |||||||
INDUSTRIAL CONGLOMERATES — 0.8% |
| |||||||
Beijing Enterprises Holdings, Ltd. | 429,500 | 2,243,734 | ||||||
CITIC, Ltd. | 4,282,000 | 5,990,643 | ||||||
Shanghai Industrial Holdings, Ltd. | 320,000 | 833,811 | ||||||
|
| |||||||
9,068,188 | ||||||||
|
| |||||||
INSURANCE — 5.6% |
| |||||||
China Life Insurance Co., Ltd. Class H | 4,771,040 | 13,130,801 | ||||||
China Pacific Insurance Group Co., Ltd. Class H | 1,584,200 | 7,095,120 | ||||||
China Taiping Insurance Holdings Co., Ltd. | 796,891 | 2,634,879 | ||||||
Fanhua, Inc. ADR (a) | 27,274 | 736,943 | ||||||
New China Life Insurance Co., Ltd. Class H | 419,500 | 1,953,636 | ||||||
People’s Insurance Co. Group of China, Ltd. Class H | 4,945,000 | 2,312,367 | ||||||
PICC Property & Casualty Co., Ltd. Class H | 2,998,858 | 5,250,094 | ||||||
Ping An Insurance Group Co. of China, Ltd. Class H (a) | 3,140,100 | 31,927,931 | ||||||
|
| |||||||
65,041,771 | ||||||||
|
| |||||||
INTERNET & CATALOG RETAIL — 3.0% |
| |||||||
Ctrip.com International, Ltd. ADR (b) | 241,421 | 11,255,047 | ||||||
JD.com, Inc. ADR (b) | 496,240 | 20,092,757 | ||||||
Vipshop Holdings, Ltd. ADR (b) | 227,874 | 3,787,266 | ||||||
|
| |||||||
35,135,070 | ||||||||
|
| |||||||
INTERNET SOFTWARE & SERVICES — 32.4% |
| |||||||
21Vianet Group, Inc. ADR (b) | 39,390 | 272,973 | ||||||
58.com, Inc. ADR (b) | 50,383 | 4,023,586 | ||||||
Alibaba Group Holding, Ltd. ADR (b) | 709,906 | 130,296,147 | ||||||
Autohome, Inc. ADR | 27,170 | 2,334,990 | ||||||
Baidu, Inc. ADR (b) | 169,905 | 37,921,097 | ||||||
Baozun, Inc. ADR (b) | 14,547 | 667,416 | ||||||
Bitauto Holdings, Ltd. ADR (a) (b) | 19,665 | 415,915 | ||||||
China Literature, Ltd. (a) (b) (c) | 80,000 | 740,033 | ||||||
Fang Holdings, Ltd. ADR (a) (b) | 118,574 | 609,470 | ||||||
Momo, Inc. ADR (b) | 29,597 | 1,106,336 | ||||||
NetEase, Inc. ADR | 46,342 | 12,993,833 | ||||||
Phoenix New Media, Ltd. ADR (b) | 39,351 | 171,177 | ||||||
SINA Corp. (b) | 43,184 | 4,502,796 | ||||||
Sohu.com, Inc. (b) | 28,146 | 870,274 | ||||||
Tencent Holdings, Ltd. | 3,383,615 | 176,589,670 | ||||||
Tian Ge Interactive Holdings, Ltd. (a) (c) | 130,000 | 109,489 | ||||||
Weibo Corp. ADR | 28,685 | 3,429,005 |
Security Description | Shares | Value | ||||||
YY, Inc. ADR (b) | 26,215 | $ | 2,757,818 | |||||
|
| |||||||
379,812,025 | ||||||||
|
| |||||||
IT SERVICES — 0.4% |
| |||||||
AGTech Holdings, Ltd. (a) (b) | 1,452,000 | 172,058 | ||||||
Chinasoft International, Ltd. (a) (b) | 1,694,000 | 1,519,534 | ||||||
Digital China Holdings, Ltd. (a) (b) | 722,000 | 396,496 | ||||||
Hi Sun Technology China, Ltd. (b) | 1,377,000 | 243,878 | ||||||
TravelSky Technology, Ltd. Class H | 860,000 | 2,492,897 | ||||||
|
| |||||||
4,824,863 | ||||||||
|
| |||||||
LIFE SCIENCES TOOLS & SERVICES — 0.2% |
| |||||||
Genscript Biotech Corp. (a) | 442,000 | 1,413,580 | ||||||
Wuxi Biologics Cayman, Inc. (b) (c) | 110,500 | 1,062,297 | ||||||
|
| |||||||
2,475,877 | ||||||||
|
| |||||||
MACHINERY — 1.1% |
| |||||||
China Conch Venture Holdings, Ltd. | 738,000 | 2,252,093 | ||||||
China International Marine Containers Group Co., Ltd. Class H | 544,300 | 848,876 | ||||||
CIMC Enric Holdings, Ltd. (a) (b) | 614,000 | 588,316 | ||||||
CRRC Corp., Ltd. Class H | 2,790,950 | 2,379,044 | ||||||
First Tractor Co., Ltd. Class H (a) | 356,000 | 132,452 | ||||||
Haitian International Holdings, Ltd. | 625,000 | 1,895,315 | ||||||
Lonking Holdings, Ltd. | 1,983,000 | 843,905 | ||||||
Weichai Power Co., Ltd. Class H | 2,004,680 | 2,247,771 | ||||||
Yangzijiang Shipbuilding Holdings, Ltd. | 1,881,500 | 1,736,151 | ||||||
Zoomlion Heavy Industry Science and Technology Co., Ltd. (a) | 863,800 | 330,186 | ||||||
|
| |||||||
13,254,109 | ||||||||
|
| |||||||
MARINE — 0.2% |
| |||||||
COSCO SHIPPING Development Co., Ltd. Class H (b) | 2,104,500 | 391,495 | ||||||
COSCO SHIPPING Energy Transportation Co., Ltd. Class H | 823,800 | 424,060 | ||||||
COSCO SHIPPING Holdings Co., Ltd. Class H (a) (b) | 1,489,175 | 738,108 | ||||||
SITC International Holdings Co., Ltd. | 710,000 | 705,630 | ||||||
|
| |||||||
2,259,293 | ||||||||
|
| |||||||
MEDIA — 0.1% |
| |||||||
Alibaba Pictures Group, Ltd. (a) (b) | 7,370,000 | 957,838 | ||||||
Huayi Tencent Entertainment Co., Ltd. (a) (b) | 1,330,000 | 66,091 | ||||||
Poly Culture Group Corp., Ltd. Class H (a) | 92,700 | 164,416 | ||||||
Wisdom Sports Group (a) | 1,037,000 | 104,383 | ||||||
|
| |||||||
1,292,728 | ||||||||
|
| |||||||
METALS & MINING — 1.0% |
| |||||||
Aluminum Corp. of China, Ltd. Class H (a) (b) | 2,752,000 | 1,525,324 | ||||||
Angang Steel Co., Ltd. Class H (a) | 1,075,720 | 1,027,981 |
111
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SPDR S&P CHINA ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
China Hongqiao Group, Ltd. (a) | 205,297 | $ | 224,175 | |||||
China Metal Recycling Holdings, Ltd. (a) (b) (e) | 268,085 | — | ||||||
China Molybdenum Co., Ltd. Class H | 2,592,000 | 1,955,155 | ||||||
China Zhongwang Holdings, Ltd. (a) | 812,400 | 482,370 | ||||||
Jiangxi Copper Co., Ltd. Class H | 981,000 | 1,399,947 | ||||||
Maanshan Iron & Steel Co., Ltd. Class H (b) | 1,772,000 | 758,625 | ||||||
MMG, Ltd. (a) (b) | 1,232,000 | 751,918 | ||||||
Munsun Capital Group, Ltd. (a) (b) | 4,132,000 | 21,059 | ||||||
Shougang Fushan Resources Group, Ltd. | 2,748,000 | 700,279 | ||||||
Zhaojin Mining Industry Co., Ltd. Class H (a) | 760,500 | 597,873 | ||||||
Zijin Mining Group Co., Ltd. Class H (a) | 5,160,750 | 2,308,045 | ||||||
|
| |||||||
11,752,751 | ||||||||
|
| |||||||
MULTILINE RETAIL — 0.1% |
| |||||||
Golden Eagle Retail Group, Ltd. (a) | 533,120 | 610,674 | ||||||
Parkson Retail Group, Ltd. (a) (b) | 1,612,000 | 186,909 | ||||||
|
| |||||||
797,583 | ||||||||
|
| |||||||
OIL, GAS & CONSUMABLE FUELS — 4.2% |
| |||||||
China Coal Energy Co., Ltd. Class H | 1,868,013 | 747,367 | ||||||
China Petroleum & Chemical Corp. Class H | 16,016,640 | 14,060,962 | ||||||
China Shenhua Energy Co., Ltd. Class H | 2,179,200 | 5,414,472 | ||||||
China Suntien Green Energy Corp., Ltd. Class H | 950,000 | 266,300 | ||||||
CNOOC, Ltd. | 10,459,174 | 15,405,636 | ||||||
Kunlun Energy Co., Ltd. | 2,579,400 | 2,225,009 | ||||||
NewOcean Energy Holdings, Ltd. (a) (b) | 712,000 | 162,389 | ||||||
PetroChina Co., Ltd. Class H | 13,430,930 | 9,223,999 | ||||||
Sinopec Kantons Holdings, Ltd. | 1,072,000 | 528,604 | ||||||
Yanzhou Coal Mining Co., Ltd. Class H | 1,299,900 | 1,656,282 | ||||||
|
| |||||||
49,691,020 | ||||||||
|
| |||||||
PAPER & FOREST PRODUCTS — 0.3% |
| |||||||
Lee & Man Paper Manufacturing, Ltd. | 1,626,000 | 1,717,511 | ||||||
Nine Dragons Paper Holdings, Ltd. | 1,281,000 | 1,916,203 | ||||||
|
| |||||||
3,633,714 | ||||||||
|
| |||||||
PERSONAL PRODUCTS — 0.4% |
| |||||||
Hengan International Group Co., Ltd. | 518,500 | 4,802,945 | ||||||
|
| |||||||
PHARMACEUTICALS — 1.9% |
| |||||||
China Animal Healthcare, Ltd. (a) (b) (e) | 763,600 | — | ||||||
China Medical System Holdings, Ltd. | 843,300 | 1,914,759 |
Security Description | Shares | Value | ||||||
China Resources Pharmaceutical Group, Ltd. (c) | 677,000 | $ | 948,868 | |||||
China Shineway Pharmaceutical Group, Ltd. (b) | 297,000 | 452,597 | ||||||
Consun Pharmaceutical Group, Ltd. | 615,000 | 652,746 | ||||||
CSPC Pharmaceutical Group, Ltd. | 2,280,000 | 6,057,108 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class H | 204,000 | 629,028 | ||||||
Hua Han Health Industry Holdings, Ltd. (a) (b) (e) | 3,728,400 | 188,836 | ||||||
Luye Pharma Group, Ltd. (a) | 1,099,000 | 1,051,628 | ||||||
Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H | 216,000 | 1,326,555 | ||||||
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. Class H | 520,000 | 248,461 | ||||||
Sihuan Pharmaceutical Holdings Group, Ltd. | 1,310,000 | 387,243 | ||||||
Sino Biopharmaceutical, Ltd. | 3,113,000 | 6,108,355 | ||||||
SSY Group, Ltd. | 1,934,332 | 1,698,145 | ||||||
Tong Ren Tang Technologies Co., Ltd. Class H (a) | 427,000 | 711,639 | ||||||
|
| |||||||
22,375,968 | ||||||||
|
| |||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 5.8% |
| |||||||
Agile Group Holdings, Ltd. | 1,230,747 | 2,543,572 | ||||||
Beijing Capital Land, Ltd. Class H | 852,000 | 518,910 | ||||||
Carnival Group International Holdings, Ltd. (a) (b) | 6,926,800 | 317,731 | ||||||
China Jinmao Holdings Group, Ltd. | 1,658,000 | 944,314 | ||||||
China Overseas Land & Investment, Ltd. | 2,703,862 | 9,388,051 | ||||||
China Overseas Property Holdings, Ltd. (a) | 942,620 | 294,257 | ||||||
China Resources Land, Ltd. | 1,926,555 | 7,008,288 | ||||||
China South City Holdings, Ltd. | 2,186,000 | 493,001 | ||||||
China Vanke Co., Ltd. Class H | 891,664 | 4,067,323 | ||||||
CIFI Holdings Group Co., Ltd. | 1,050,000 | 916,440 | ||||||
Colour Life Services Group Co., Ltd. | 282,000 | 264,814 | ||||||
Country Garden Holdings Co., Ltd. | 4,365,500 | 8,988,759 | ||||||
Fullshare Holdings, Ltd. (a) (b) | 4,192,500 | 2,323,736 | ||||||
Future Land Holdings Co., Ltd. Class A | 588,295 | 3,270,744 | ||||||
Greentown China Holdings, Ltd. (a) | 384,500 | 520,290 | ||||||
Guangzhou R&F Properties Co., Ltd. Class H | 864,224 | 2,156,073 | ||||||
Hopson Development Holdings, Ltd. | 394,000 | 449,809 | ||||||
Hydoo International Holding, Ltd. (b) | 1,302,000 | 104,514 | ||||||
Kaisa Group Holdings, Ltd. (b) | 920,000 | 516,953 | ||||||
KWG Property Holding, Ltd. | 837,806 | 1,142,225 | ||||||
Longfor Properties Co., Ltd. | 916,000 | 2,801,116 | ||||||
Poly Property Group Co., Ltd. (b) | 1,332,000 | 655,113 |
112
Table of Contents
SPDR S&P CHINA ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Redco Group (c) | 402,200 | $ | 214,724 | |||||
Renhe Commercial Holdings Co., Ltd. (a) (b) | 8,651,000 | 168,648 | ||||||
Shanghai Jinqiao Export Processing Zone Development Co., Ltd. Class B | 297,650 | 384,564 | ||||||
Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. Class B | 779,960 | 1,112,223 | ||||||
Shenzhen Investment, Ltd. | 1,948,606 | 826,785 | ||||||
Shimao Property Holdings, Ltd. | 917,441 | 2,595,109 | ||||||
Shui On Land, Ltd. | 3,129,500 | 849,335 | ||||||
Sino-Ocean Group Holding, Ltd. | 2,634,212 | 1,909,798 | ||||||
SOHO China, Ltd. | 943,500 | 494,092 | ||||||
Sunac China Holdings, Ltd. (a) | 1,273,300 | 4,915,840 | ||||||
Yanlord Land Group, Ltd. | 412,900 | 532,144 | ||||||
Yuexiu Property Co., Ltd. | 6,508,000 | 1,534,065 | ||||||
Yuzhou Properties Co., Ltd. | 2,524,840 | 1,721,124 | ||||||
Zall Group, Ltd. (a) (b) | 660,000 | 936,814 | ||||||
|
| |||||||
67,881,298 | ||||||||
|
| |||||||
ROAD & RAIL — 0.2% |
| |||||||
CAR, Inc. (b) | 821,300 | 738,807 | ||||||
Dazhong Transportation Group Co., Ltd. Class B | 372,000 | 228,408 | ||||||
Guangshen Railway Co., Ltd. Class H (a) | 1,494,000 | 883,269 | ||||||
|
| |||||||
1,850,484 | ||||||||
|
| |||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.4% |
| |||||||
GCL-Poly Energy Holdings, Ltd. (b) | 7,309,000 | 903,346 | ||||||
Hanergy Thin Film Power Group, Ltd. (a) (b) (e) | 17,589,376 | — | ||||||
JinkoSolar Holding Co., Ltd. ADR (a) (b) | 13,512 | 246,594 | ||||||
Semiconductor Manufacturing International Corp. (a) (b) | 1,944,600 | 2,542,155 | ||||||
Shunfeng International Clean Energy, Ltd. (b) | 670,000 | 25,611 | ||||||
Xinyi Solar Holdings, Ltd. | 2,596,000 | 1,048,548 | ||||||
|
| |||||||
4,766,254 | ||||||||
|
| |||||||
SOFTWARE — 0.4% | ||||||||
Boyaa Interactive International, Ltd. (a) (b) | 302,000 | 116,978 | ||||||
Cheetah Mobile, Inc. ADR (a) (b) | 15,410 | 206,032 | ||||||
Kingdee International Software Group Co., Ltd. (a) (b) | 1,080,000 | 1,087,114 | ||||||
Kingsoft Corp., Ltd. | 525,000 | 1,665,647 | ||||||
NetDragon Websoft Holdings, Ltd. (a) | 210,000 | 511,066 | ||||||
Shanghai Baosight Software Co., Ltd. Class B | 345,500 | 621,555 | ||||||
V1 Group, Ltd. (b) | 2,066,000 | 57,913 | ||||||
|
| |||||||
4,266,305 | ||||||||
|
|
Security Description | Shares | Value | ||||||
SPECIALTY RETAIL — 0.3% | ||||||||
China Harmony New Energy Auto Holding, Ltd. (a) (b) | 830,000 | $ | 531,950 | |||||
China ZhengTong Auto Services Holdings, Ltd. | 32,500 | 23,604 | ||||||
GOME Retail Holdings, Ltd. (a) | 7,241,279 | 784,257 | ||||||
Grand Baoxin Auto Group, Ltd. (b) | 866,074 | 363,057 | ||||||
Hengdeli Holdings, Ltd. (a) | 2,576,895 | 123,127 | ||||||
Zhongsheng Group Holdings, Ltd. | 546,500 | 1,493,626 | ||||||
|
| |||||||
3,319,621 | ||||||||
|
| |||||||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 0.3% |
| |||||||
Coolpad Group, Ltd. (b) (e) | 2,629,400 | 120,610 | ||||||
Lenovo Group, Ltd. (a) | 4,718,000 | 2,410,609 | ||||||
Meitu, Inc. (a) (b) (c) | 1,133,500 | 1,298,391 | ||||||
|
| |||||||
3,829,610 | ||||||||
|
| |||||||
TEXTILES,APPAREL & LUXURY GOODS — 0.9% |
| |||||||
ANTA Sports Products, Ltd. | 634,000 | 3,198,960 | ||||||
Bosideng International Holdings, Ltd. | 3,230,000 | 316,897 | ||||||
China Dongxiang Group Co., Ltd. | 3,181,000 | 555,276 | ||||||
China Jicheng Holdings, Ltd. (b) (c) | 460,750 | 4,286 | ||||||
Cosmo Lady China Holdings Co., Ltd. (c) | 301,000 | 162,997 | ||||||
Lao Feng Xiang Co., Ltd. Class B | 172,911 | 626,802 | ||||||
Li Ning Co., Ltd. (b) | 1,407,207 | 1,441,579 | ||||||
Shenzhou International Group Holdings, Ltd. | 429,000 | 4,517,774 | ||||||
|
| |||||||
10,824,571 | ||||||||
|
| |||||||
TRADING COMPANIES & DISTRIBUTORS — 0.0% (d) |
| |||||||
CITIC Resources Holdings, Ltd. (a) | 1,824,000 | 204,518 | ||||||
New Provenance Everlasting Holdings, Ltd. (a) (b) | 5,600,000 | 114,879 | ||||||
|
| |||||||
319,397 | ||||||||
|
| |||||||
TRANSPORTATION INFRASTRUCTURE — 1.0% |
| |||||||
Anhui Expressway Co., Ltd. Class H | 618,000 | 472,459 | ||||||
Beijing Capital International Airport Co., Ltd. Class H | 1,197,939 | 1,608,791 | ||||||
China Merchants Port Holdings Co., Ltd. | 920,663 | 2,029,417 | ||||||
COSCO SHIPPING International Hong Kong Co., Ltd. | 612,000 | 254,210 | ||||||
COSCO SHIPPING Ports, Ltd. | 1,122,980 | 944,366 | ||||||
Dalian Port PDA Co., Ltd. Class H (a) | 1,182,200 | 198,833 | ||||||
HNA Infrastructure Co., Ltd. Class H | 391,000 | 418,486 | ||||||
Jiangsu Expressway Co., Ltd. Class H | 830,795 | 1,175,009 |
113
Table of Contents
SPDR S&P CHINA ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Qingdao Port International Co., Ltd. Class H (c) | 882,000 | $ | 652,934 | |||||
Shenzhen Expressway Co., Ltd. Class H | 652,000 | 663,772 | ||||||
Shenzhen International Holdings, Ltd. | 748,121 | 1,637,644 | ||||||
Sichuan Expressway Co., Ltd. Class H | 812,000 | 286,589 | ||||||
Xiamen International Port Co., Ltd. Class H | 985,000 | 179,472 | ||||||
Yuexiu Transport Infrastructure, Ltd. (a) | 380,000 | 292,446 | ||||||
Zhejiang Expressway Co., Ltd. Class H | 866,000 | 883,842 | ||||||
|
| |||||||
11,698,270 | ||||||||
|
| |||||||
WATER UTILITIES — 0.5% |
| |||||||
Beijing Enterprises Water Group, Ltd. | 3,436,000 | 1,917,572 | ||||||
CT Environmental Group, Ltd. (a) | 1,736,400 | 311,956 | ||||||
Guangdong Investment, Ltd. | 2,144,000 | 3,371,044 | ||||||
Kangda International Environmental Co., Ltd. (c) | 750,000 | 140,476 | ||||||
|
| |||||||
5,741,048 | ||||||||
|
| |||||||
WIRELESS TELECOMMUNICATION SERVICES — 2.8% |
| |||||||
China Mobile, Ltd. | 3,520,504 | 32,274,539 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 1,169,534,960 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 1.8% |
| |||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares 1.62% (g) (h) | 2,369,667 | 2,369,667 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (g) (i) | 18,667,846 | 18,667,846 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| 21,037,513 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 101.7% |
| 1,190,572,473 | ||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.7)% |
| (19,767,962 | ) | |||||
|
| |||||||
NET ASSETS — 100.0% | $ | 1,170,804,511 | ||||||
|
|
(a) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(b) | Non-income producing security. |
(c) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.0% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(d) | Amount is less than 0.05% of net assets. |
(e) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $400,039, representing less than 0.05% of the Fund’s net assets. |
(f) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $38,828, representing less than 0.05% of net assets. |
(g) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(h) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(i) | Investment of cash collateral for securities loaned. |
ADR = American Depositary Receipt
ADS = American Depositary Shares
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
ASSETS: | ||||||||||||||||
INVESTMENTS: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Aerospace & Defense | $ | 1,217,568 | $ | — | $ | — | $ | 1,217,568 | ||||||||
Air Freight & Logistics | 2,308,183 | — | — | 2,308,183 |
114
Table of Contents
SPDR S&P CHINA ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
Airlines | $ | 4,565,042 | $ | — | $ | — | $ | 4,565,042 | ||||||||
Auto Components | 5,429,838 | — | — | 5,429,838 | ||||||||||||
Automobiles | 26,757,071 | — | — | 26,757,071 | ||||||||||||
Banks | 180,837,731 | — | — | 180,837,731 | ||||||||||||
Beverages | 6,256,309 | — | — | 6,256,309 | ||||||||||||
Biotechnology | 6,717,846 | — | — | 6,717,846 | ||||||||||||
Building Products | 270,800 | — | — | 270,800 | ||||||||||||
Capital Markets | 18,482,010 | — | — | 18,482,010 | ||||||||||||
Chemicals | 2,603,944 | — | 0 | (a) | 2,603,944 | |||||||||||
Commercial Services & Supplies | 9,684,312 | — | — | 9,684,312 | ||||||||||||
Communications Equipment | 4,386,096 | — | 0 | (a) | 4,386,096 | |||||||||||
Construction & Engineering | 9,676,374 | — | — | 9,676,374 | ||||||||||||
Construction Materials | 8,697,994 | — | 90,593 | 8,788,587 | ||||||||||||
Consumer Finance | 2,330,643 | — | — | 2,330,643 | ||||||||||||
Containers & Packaging | 615,628 | — | — | 615,628 | ||||||||||||
Distributors | 584,472 | — | — | 584,472 | ||||||||||||
Diversified Consumer Services | 15,971,025 | — | — | 15,971,025 | ||||||||||||
Diversified Financial Services | 1,227,820 | — | — | 1,227,820 | ||||||||||||
Diversified Telecommunication Services | 10,659,474 | — | — | 10,659,474 | ||||||||||||
Electrical Equipment | 3,586,500 | 38,828 | — | 3,625,328 | ||||||||||||
Electronic Equipment, Instruments & Components | 21,216,741 | — | 0 | (a) | 21,216,741 | |||||||||||
Energy Equipment & Services | 1,706,878 | — | — | 1,706,878 | ||||||||||||
Food & Staples Retailing | 1,674,002 | — | — | 1,674,002 | ||||||||||||
Food Products | 21,693,123 | — | 0 | (a) | 21,693,123 | |||||||||||
Gas Utilities | 7,825,813 | — | — | 7,825,813 | ||||||||||||
Health Care Equipment & Supplies | 1,369,279 | — | — | 1,369,279 | ||||||||||||
Health Care Providers & Services | 6,270,447 | — | — | 6,270,447 | ||||||||||||
Hotels, Restaurants & Leisure | 14,692,260 | — | — | 14,692,260 | ||||||||||||
Household Durables | 4,459,137 | — | — | 4,459,137 | ||||||||||||
Household Products | 764,227 | — | — | 764,227 | ||||||||||||
Independent Power Producers & Energy Traders | 11,877,650 | — | — | 11,877,650 | ||||||||||||
Industrial Conglomerates | 9,068,188 | — | — | 9,068,188 | ||||||||||||
Insurance | 65,041,771 | — | — | 65,041,771 | ||||||||||||
Internet & Catalog Retail | 35,135,070 | — | — | 35,135,070 | ||||||||||||
Internet Software & Services | 379,812,025 | — | — | 379,812,025 | ||||||||||||
IT Services | 4,824,863 | — | — | 4,824,863 | ||||||||||||
Life Sciences Tools & Services | 2,475,877 | — | — | 2,475,877 | ||||||||||||
Machinery | 13,254,109 | — | — | 13,254,109 | ||||||||||||
Marine | 2,259,293 | — | — | 2,259,293 | ||||||||||||
Media | 1,292,728 | — | — | 1,292,728 | ||||||||||||
Metals & Mining | 11,752,751 | — | 0 | (a) | 11,752,751 | |||||||||||
Multiline Retail | 797,583 | — | — | 797,583 | ||||||||||||
Oil, Gas & Consumable Fuels | 49,691,020 | — | — | 49,691,020 | ||||||||||||
Paper & Forest Products | 3,633,714 | — | — | 3,633,714 | ||||||||||||
Personal Products | 4,802,945 | — | — | 4,802,945 | ||||||||||||
Pharmaceuticals | 22,187,132 | — | 188,836 | 22,375,968 | ||||||||||||
Real Estate Management & Development | 67,881,298 | — | — | 67,881,298 | ||||||||||||
Road & Rail | 1,850,484 | — | — | 1,850,484 | ||||||||||||
Semiconductors & Semiconductor Equipment | 4,766,254 | — | 0 | (a) | 4,766,254 | |||||||||||
Software | 4,266,305 | — | — | 4,266,305 | ||||||||||||
Specialty Retail | 3,319,621 | — | — | 3,319,621 | ||||||||||||
Technology Hardware, Storage & Peripherals | 3,709,000 | — | 120,610 | 3,829,610 | ||||||||||||
Textiles, Apparel & Luxury Goods | 10,824,571 | — | — | 10,824,571 | ||||||||||||
Trading Companies & Distributors | 319,397 | — | — | 319,397 |
115
Table of Contents
SPDR S&P CHINA ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
Transportation Infrastructure | $ | 11,698,270 | $ | — | $ | — | $ | 11,698,270 | ||||||||
Water Utilities | 5,741,048 | — | — | 5,741,048 | ||||||||||||
Wireless Telecommunication Services | 32,274,539 | — | — | 32,274,539 | ||||||||||||
Short-Term Investments | 21,037,513 | — | — | 21,037,513 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL INVESTMENTS | $ | 1,190,133,606 | $ | 38,828 | $ | 400,039 | $ | 1,190,572,473 | ||||||||
|
|
|
|
|
|
|
|
(a) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 2,785,729 | $ | 2,785,729 | $ | 54,675,652 | $ | 55,091,714 | $ | — | $ | — | 2,369,667 | $ | 2,369,667 | $ | 17,272 | $ | — | ||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 22,187,451 | 22,187,451 | 62,355,765 | 65,875,370 | — | — | 18,667,846 | 18,667,846 | 416,932 | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Total | $ | 24,973,180 | $ | 117,031,417 | $ | 120,967,084 | $ | — | $ | — | $ | 21,037,513 | $ | 434,204 | $ | — | ||||||||||||||||||||||||
|
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116
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS — 99.0% |
| |||||||
AUSTRALIA — 6.3% | ||||||||
Abacus Property Group REIT | 169,808 | $ | 451,972 | |||||
Accent Group, Ltd. | 277,764 | 269,520 | ||||||
AET&D Holdings No. 1 Pty, Ltd. (a) (b) | 110,316 | — | ||||||
Afterpay Touch Group, Ltd. (b) (c) | 79,569 | 393,055 | ||||||
Ainsworth Game Technology, Ltd. (b) | 53,142 | 75,411 | ||||||
Altium, Ltd. | 64,456 | 983,875 | ||||||
Amaysim Australia, Ltd. (b) | 154,042 | 135,291 | ||||||
Appen, Ltd. | 55,366 | 377,545 | ||||||
ARB Corp., Ltd. | 43,281 | 657,998 | ||||||
Ardent Leisure Group (b) | 125,559 | 177,692 | ||||||
Arena REIT | 177,378 | 293,885 | ||||||
Arrium, Ltd. (a) (b) (c) | 1,727,582 | — | ||||||
Asaleo Care, Ltd. | 203,351 | 199,655 | ||||||
Astro Japan Property Group (d) | 33,776 | — | ||||||
Atlas Iron, Ltd. (c) | 5,534,798 | 84,909 | ||||||
Ausdrill, Ltd. | 149,532 | 309,686 | ||||||
Austal, Ltd. | 162,550 | 226,301 | ||||||
Australian Agricultural Co., Ltd. (b) (c) | 196,999 | 179,063 | ||||||
Australian Pharmaceutical Industries, Ltd. | 117,659 | 135,376 | ||||||
Australian Property Systems, Ltd. (b) (c) | 98,288 | 349,818 | ||||||
Automotive Holdings Group, Ltd. (b) | 105,893 | 285,101 | ||||||
Aveo Group | 126,986 | 257,148 | ||||||
AWE, Ltd. (c) | 307,650 | 223,004 | ||||||
Bapcor, Ltd. | 106,168 | 462,557 | ||||||
BCI Minerals, Ltd. (c) | 3 | — | ||||||
Beach Energy, Ltd. | 1,532,360 | 1,428,107 | ||||||
Beadell Resources, Ltd. (b) (c) | 560,731 | 33,549 | ||||||
Bega Cheese, Ltd. (b) | 89,537 | 464,959 | ||||||
Bellamy’s Australia, Ltd. (c) | 33,358 | 507,651 | ||||||
Bingo Industries, Ltd. (b) | 146,696 | 315,065 | ||||||
Blackmores, Ltd. (b) | 7,088 | 683,793 | ||||||
Breville Group, Ltd. | 60,555 | 540,199 | ||||||
Brickworks, Ltd. | 42,123 | 501,458 | ||||||
Buru Energy, Ltd. (c) | 12 | 3 | ||||||
BWP Trust REIT | 173,655 | 402,270 | ||||||
BWX, Ltd. (b) | 60,500 | 224,608 | ||||||
Cabcharge Australia, Ltd. | 5,546 | 7,572 | ||||||
Cardno, Ltd. (c) | 76,516 | 76,299 | ||||||
Cash Converters International, Ltd. (c) | 4,878 | 1,459 | ||||||
Central Petroleum, Ltd. (c) | 21 | 2 | ||||||
Charter Hall Group REIT | 230,054 | 1,011,133 | ||||||
Charter Hall Long Wale REIT | 76,339 | 228,368 | ||||||
Charter Hall Retail REIT | 256,398 | 757,180 | ||||||
Clean TeQ Holdings, Ltd. (b) (c) | 254,590 | 227,505 | ||||||
Cleanaway Waste Management, Ltd. | 924,876 | 1,025,121 | ||||||
Collins Foods, Ltd. | 53,021 | 211,483 | ||||||
Cooper Energy, Ltd. (b) (c) | 942,350 | 216,849 |
Security Description | Shares | Value | ||||||
Corporate Travel Management, Ltd. (b) | 52,000 | $ | 936,537 | |||||
Costa Group Holdings, Ltd. | 140,434 | 735,727 | ||||||
Credit Corp. Group, Ltd. (b) | 28,539 | 422,274 | ||||||
Cromwell Property Group REIT (b) | 497,355 | 406,293 | ||||||
CSR, Ltd. | 347,380 | 1,380,252 | ||||||
Dacian Gold, Ltd. (b) (c) | 132,269 | 298,283 | ||||||
Data#3, Ltd. | 6 | 7 | ||||||
Domain Holdings Australia, Ltd. | 103,733 | 258,597 | ||||||
DuluxGroup, Ltd. | 166,348 | 941,668 | ||||||
Eclipx Group, Ltd. | 151,482 | 415,976 | ||||||
Elders, Ltd. | 64,794 | 370,764 | ||||||
Emeco Holdings, Ltd. (c) | 30 | 7 | ||||||
EML Payments, Ltd. (c) | 194,667 | 172,464 | ||||||
Estia Health, Ltd. | 103,277 | 268,551 | ||||||
Evolution Mining, Ltd. | 45 | 105 | ||||||
Fairfax Media, Ltd. | 1,084,457 | 561,487 | ||||||
FAR, Ltd. (b) (c) | 4,422,302 | 267,978 | ||||||
Fleetwood Corp., Ltd. | 30 | 65 | ||||||
FlexiGroup, Ltd. | 105,696 | 145,933 | ||||||
Folkestone Education Trust REIT | 145,969 | 307,905 | ||||||
G8 Education, Ltd. (b) | 188,675 | 382,069 | ||||||
Galaxy Resources, Ltd. (b) (c) | 168,957 | 383,611 | ||||||
Gateway Lifestyle (b) | 178,987 | 271,152 | ||||||
GDI Property Group REIT | 226,212 | 213,425 | ||||||
Genworth Mortgage Insurance Australia, Ltd. (b) | 92,191 | 163,352 | ||||||
Gold Road Resources, Ltd. (b) (c) | 474,490 | 296,625 | ||||||
GrainCorp, Ltd. Class A | 108,981 | 708,040 | ||||||
Greencross, Ltd. | 54,136 | 219,667 | ||||||
Greenland Minerals & Energy, Ltd. (c) | 85 | 5 | ||||||
Growthpoint Properties Australia, Ltd. (b) | 81,426 | 206,111 | ||||||
GUD Holdings, Ltd. | 47,428 | 432,918 | ||||||
GWA Group, Ltd. | 138,956 | 358,130 | ||||||
Hansen Technologies, Ltd. | 101,117 | 321,106 | ||||||
Horizon Oil, Ltd. (c) | 54 | 5 | ||||||
Hotel Property Investments REIT | 86,981 | 206,828 | ||||||
HT&E, Ltd. (b) | 72,753 | 106,309 | ||||||
Icon Energy, Ltd. (c) | 24 | 1 | ||||||
IDP Education, Ltd. | 50,182 | 286,766 | ||||||
Imdex, Ltd. (c) | 9 | 8 | ||||||
Independence Group NL (b) | 266,805 | 941,403 | ||||||
Industria REIT | 103,154 | 198,602 | ||||||
Infigen Energy (c) | 928,402 | 416,597 | ||||||
Ingenia Communities Group REIT | 64,707 | 137,981 | ||||||
Inghams Group, Ltd. | 88,424 | 230,607 | ||||||
InvoCare, Ltd. | 201,637 | 2,009,107 | ||||||
IPH, Ltd. (b) | 107,989 | 280,804 | ||||||
IRESS, Ltd. | 56,158 | 408,791 | ||||||
iSelect, Ltd. | 168,246 | 131,634 | ||||||
iSentia Group, Ltd. | 28,980 | 18,561 | ||||||
Jacana Minerals, Ltd. (a) (b) (c) | 12,051 | — |
117
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Japara Healthcare, Ltd. (b) | 135,340 | $ | 208,663 | |||||
JB Hi-Fi, Ltd. | 156 | 3,088 | ||||||
Karoon Gas Australia, Ltd. (b) (c) | 13,170 | 11,617 | ||||||
Kingsgate Consolidated, Ltd. (c) | 1,425 | 361 | ||||||
Liquefied Natural Gas, Ltd. (b) (c) | 259,234 | 86,498 | ||||||
Lynas Corp., Ltd. (c) | 218,090 | 411,523 | ||||||
MACA, Ltd. | 30,942 | 31,566 | ||||||
Mantra Group, Ltd. | 151,307 | 456,116 | ||||||
Mayne Pharma Group, Ltd. (b) (c) | 976,063 | 554,030 | ||||||
McMillan Shakespeare, Ltd. | 43,479 | 561,957 | ||||||
Melbourne IT, Ltd. | 6 | 16 | ||||||
Mesoblast, Ltd. (b) (c) | 27,364 | 31,274 | ||||||
Metals X, Ltd. (b) | 203,295 | 112,275 | ||||||
Mincor Resources NL (c) | 9 | 3 | ||||||
Monadelphous Group, Ltd. | 77,679 | 905,672 | ||||||
Mount Gibson Iron, Ltd. | 52,248 | 15,229 | ||||||
Myer Holdings, Ltd. (b) | 167,083 | 48,060 | ||||||
MYOB Group, Ltd. (b) | 120,724 | 282,434 | ||||||
Nanosonics, Ltd. (b) (c) | 162,219 | 319,785 | ||||||
Navitas, Ltd. (b) | 151,186 | 575,197 | ||||||
New South Resources, Ltd. (c) | 272,398 | 328,040 | ||||||
NEXTDC, Ltd. (c) | 197,578 | 991,151 | ||||||
Nick Scali, Ltd. | 43,519 | 224,322 | ||||||
Nine Entertainment Co. Holdings, Ltd. | 248,693 | 433,025 | ||||||
NRW Holdings, Ltd. (c) | 6 | 6 | ||||||
Nufarm, Ltd. | 155,506 | 1,007,923 | ||||||
OceanaGold Corp. | 344,918 | 928,342 | ||||||
OFX Group, Ltd. (b) | 47,489 | 61,561 | ||||||
oOh!media, Ltd. (b) | 94,443 | 332,511 | ||||||
Orocobre, Ltd. (b) (c) | 100,856 | 414,658 | ||||||
OZ Minerals, Ltd. | 163,744 | 1,129,143 | ||||||
Pact Group Holdings, Ltd. | 76,152 | 320,100 | ||||||
Paladin Energy, Ltd. (b) (c) | 15,456 | 2,015 | ||||||
Perseus Mining, Ltd. (c) | 55,493 | 19,793 | ||||||
Pilbara Minerals, Ltd. (b) (c) | 687,692 | 435,183 | ||||||
Premier Investments, Ltd. (b) | 46,706 | 565,690 | ||||||
Primary Health Care, Ltd. | 182,802 | 546,851 | ||||||
Propertylink Group REIT (b) | 383,894 | 295,938 | ||||||
Quintis, Ltd. (a) (b) (c) | 148,677 | — | ||||||
RCR Tomlinson, Ltd. | 52,345 | 160,203 | ||||||
Regis Healthcare, Ltd. (b) | 104,945 | 293,818 | ||||||
Regis Resources, Ltd. | 218,997 | 760,957 | ||||||
Reject Shop, Ltd. | 31,479 | 182,544 | ||||||
Resapp Health, Ltd. (c) | 20,004 | 1,841 | ||||||
Resolute Mining, Ltd. | 323,374 | 308,815 | ||||||
Retail Food Group, Ltd. (b) | 70,853 | 50,543 | ||||||
Rural Funds Group REIT | 170,077 | 293,530 | ||||||
Sandfire Resources NL | 59,359 | 333,289 | ||||||
Saracen Mineral Holdings, Ltd. (c) | 283,683 | 386,238 | ||||||
Select Harvests, Ltd. (b) | 52,910 | 225,650 | ||||||
Senex Energy, Ltd. (b) (c) | 593,463 | 182,086 | ||||||
Service Stream, Ltd. | 231,204 | 287,299 | ||||||
Seven West Media, Ltd. | 215,119 | 89,104 |
Security Description | Shares | Value | ||||||
SG Fleet Group, Ltd. | 77,311 | $ | 226,531 | |||||
Shopping Centres Australasia Property Group REIT | 332,121 | 593,575 | ||||||
Sigma Healthcare, Ltd. | 937,711 | 561,032 | ||||||
Silver Chef, Ltd. (b) | 11,385 | 34,058 | ||||||
Silver Lake Resources, Ltd. (c) | 286,760 | 86,884 | ||||||
Sirtex Medical, Ltd. | 33,088 | 704,045 | ||||||
Slater & Gordon, Ltd. (c) | 41 | 102 | ||||||
SmartGroup Corp., Ltd. | 48,268 | 404,672 | ||||||
Southern Cross Media Group, Ltd. | 520,923 | 413,559 | ||||||
SpeedCast International, Ltd. | 130,673 | 514,194 | ||||||
St Barbara, Ltd. | 279,178 | 854,433 | ||||||
Steadfast Group, Ltd. | 399,086 | 768,359 | ||||||
Strandline Resources, Ltd. (c) | 53 | 5 | ||||||
Super Retail Group, Ltd. (b) | 60,279 | 314,412 | ||||||
Superloop, Ltd. | 109,011 | 166,816 | ||||||
Syrah Resources, Ltd. (b) (c) | 118,305 | 287,664 | ||||||
Tap Oil, Ltd. (c) | 9 | — | ||||||
Tassal Group, Ltd. (b) | 47,772 | 138,879 | ||||||
Technology One, Ltd. | 134,769 | 536,514 | ||||||
Tiger Resources, Ltd. (a) (c) | 2,464 | — | ||||||
Tox Free Solutions, Ltd. (b) | 80,383 | 210,253 | ||||||
Village Roadshow, Ltd. (c) | 24,050 | 57,556 | ||||||
Virtus Health, Ltd. (b) | 17,334 | 71,932 | ||||||
Vita Group, Ltd. (b) | 3,985 | 3,729 | ||||||
Viva Energy REIT | 170,479 | 261,532 | ||||||
Vocus Group, Ltd. (b) | 345,274 | 587,950 | ||||||
Webjet, Ltd. (b) | 76,580 | 649,085 | ||||||
Western Areas, Ltd. (b) | 120,813 | 290,056 | ||||||
Westgold Resources, Ltd. (b) (c) | 99,849 | 114,884 | ||||||
WiseTech Global, Ltd. (b) | 57,165 | 413,052 | ||||||
WPP AUNZ, Ltd. | 373,331 | 262,023 | ||||||
|
| |||||||
58,349,902 | ||||||||
|
| |||||||
AUSTRIA — 0.3% |
| |||||||
DO & Co. AG | 3,749 | 235,649 | ||||||
Palfinger AG | 5,591 | 225,192 | ||||||
POLYTEC Holding AG | 4,508 | 87,154 | ||||||
Porr AG (b) | 8,332 | 286,407 | ||||||
S IMMO AG | 32,181 | 637,203 | ||||||
S&T AG | 24,217 | 535,206 | ||||||
Schoeller-Bleckmann Oilfield Equipment AG (c) | 5,155 | 566,468 | ||||||
Semperit AG Holding | 5,500 | 110,391 | ||||||
Zumtobel Group AG (b) | 23,418 | 219,749 | ||||||
|
| |||||||
2,903,419 | ||||||||
|
| |||||||
BELGIUM — 1.4% |
| |||||||
Ablynx NV (c) | 37,391 | 2,050,026 | ||||||
Aedifica SA REIT | 7,997 | 735,667 | ||||||
AGFA-Gevaert NV (c) | 182,649 | 706,689 | ||||||
Barco NV | 18,725 | 2,302,895 | ||||||
Befimmo SA REIT | 7,531 | 486,255 | ||||||
Celyad SA (c) | 4,611 | 160,258 | ||||||
Econocom Group SA | 51,835 | 379,308 | ||||||
Euronav NV (b) | 65,527 | 542,763 | ||||||
EVS Broadcast Equipment SA | 9,055 | 292,328 | ||||||
Fagron (c) | 1,463 | 22,779 |
118
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Greenyard NV | 11,563 | $ | 257,680 | |||||
Ion Beam Applications (b) | 11,500 | 231,808 | ||||||
Kinepolis Group NV | 3,623 | 240,165 | ||||||
MDxHealth (b) (c) | 54,305 | 240,767 | ||||||
Nyrstar NV (b) (c) | 47,157 | 331,158 | ||||||
Orange Belgium SA | 23,288 | 476,010 | ||||||
Recticel SA | 31,481 | 394,138 | ||||||
Retail Estates NV REIT | 4,661 | 415,594 | ||||||
Rezidor Hotel Group AB | 73,868 | 206,394 | ||||||
Tessenderlo Group SA (c) | 40,793 | 1,708,264 | ||||||
X-Fab Silicon Foundries SE (b) (c) (e) | 47,268 | 508,660 | ||||||
|
| |||||||
12,689,606 | ||||||||
|
| |||||||
CANADA — 7.9% |
| |||||||
Advantage Oil & Gas, Ltd. (c) | 142,383 | 420,771 | ||||||
Aecon Group, Inc. | 30,274 | 431,127 | ||||||
AG Growth International, Inc. (b) | 6,793 | 283,259 | ||||||
AGF Management, Ltd. Class B | 12,189 | 62,020 | ||||||
AGT Food & Ingredients, Inc. (b) | 11,530 | 149,262 | ||||||
Aimia, Inc. (b) | 36,965 | 49,602 | ||||||
Alamos Gold, Inc. Class A | 38,204 | 198,539 | ||||||
Alaris Royalty Corp. (b) | 16,720 | 212,558 | ||||||
Alio Gold, Inc. (c) | 415 | 808 | ||||||
Altius Minerals Corp. | 11,272 | 122,928 | ||||||
Altus Group, Ltd. (b) | 20,389 | 515,873 | ||||||
Aphria, Inc. (b) (c) | 75,208 | 670,266 | ||||||
Arbutus Biopharma Corp. (c) (f) | 2,074 | 10,370 | ||||||
Arbutus Biopharma Corp. (c) (d) (f) | 11,276 | 56,380 | ||||||
Aritzia, Inc. (b) (c) | 34,123 | 319,196 | ||||||
Arizona Mining, Inc. (b) (c) | 105,393 | 331,078 | ||||||
Artis Real Estate Investment Trust | 18,195 | 191,794 | ||||||
Asanko Gold, Inc. (b) (c) | 4,618 | 4,657 | ||||||
Athabasca Oil Corp. (b) (c) | 166,673 | 153,842 | ||||||
Atrium Mortgage Investment Corp. (b) | 37,219 | 354,797 | ||||||
ATS Automation Tooling Systems, Inc. (c) | 35,867 | 492,137 | ||||||
Aurinia Pharmaceuticals, Inc. (c) | 50,825 | 267,282 | ||||||
Aurora Cannabis, Inc. (b) (c) | 213,479 | 1,539,930 | ||||||
AutoCanada, Inc. | 919 | 15,853 | ||||||
Avigilon Corp. (c) | 16,399 | 343,180 | ||||||
Badger Daylighting, Ltd. (b) | 16,145 | 322,712 | ||||||
Ballard Power Systems, Inc. (b) (c) | 76,269 | 271,534 | ||||||
Baytex Energy Corp. (b) (c) | 100,315 | 274,665 | ||||||
Bellatrix Exploration, Ltd. (b) (c) | 1,210 | 1,323 | ||||||
Birchcliff Energy, Ltd. | 117,898 | 341,097 | ||||||
Bird Construction, Inc. (b) | 20,545 | 136,250 | ||||||
Black Diamond Group, Ltd. (b) | 645 | 1,166 | ||||||
Boardwalk Real Estate Investment Trust | 13,317 | 457,276 | ||||||
Bonavista Energy Corp. (b) | 96,796 | 88,594 | ||||||
Bonterra Energy Corp. (b) | 893 | 9,171 |
Security Description | Shares | Value | ||||||
Boralex, Inc. Class A | 26,670 | $ | 462,756 | |||||
Boyd Group Income Fund | 5,376 | 434,417 | ||||||
Calfrac Well Services, Ltd. (b) (c) | 25,108 | 114,707 | ||||||
Callidus Capital Corp. (b) | 13,992 | 71,520 | ||||||
Canaccord Genuity Group, Inc. | 6,021 | 32,364 | ||||||
Canacol Energy, Ltd. (b) (c) | 54,624 | 178,373 | ||||||
Canadian Solar, Inc. (b) (c) | 19,527 | 317,704 | ||||||
Canadian Western Bank (b) | 46,992 | 1,204,643 | ||||||
Canopy Growth Corp. (b) (c) | 97,308 | 2,540,537 | ||||||
Capstone Mining Corp. (c) | 220,289 | 205,039 | ||||||
Cara Operations, Ltd. | 9,651 | 218,659 | ||||||
Cardinal Energy, Ltd. (b) | 34,675 | 116,995 | ||||||
Cargojet, Inc. | 7,876 | 416,693 | ||||||
Cascades, Inc. | 27,220 | 281,437 | ||||||
Celestica, Inc. (c) | 116,926 | 1,208,938 | ||||||
Centerra Gold, Inc. (c) | 108,934 | 624,411 | ||||||
CES Energy Solutions Corp. | 154,987 | 706,863 | ||||||
Chemtrade Logistics Income Fund | 23,736 | 283,341 | ||||||
Chorus Aviation, Inc. | 38,789 | 249,718 | ||||||
Cineplex, Inc. (b) | 36,407 | 885,289 | ||||||
Cogeco, Inc. (b) | 4,668 | 247,982 | ||||||
Colliers International Group, Inc. | 30,939 | 2,146,352 | ||||||
Colossus Minerals, Inc. (a) (c) | 390 | — | ||||||
Computer Modelling Group, Ltd. | 44,276 | 319,041 | ||||||
Continental Gold, Inc. (c) | 5,753 | 15,796 | ||||||
Crew Energy, Inc. (b) (c) | 83,175 | 121,932 | ||||||
Crombie Real Estate Investment Trust | 19,911 | 194,129 | ||||||
Dalradian Resources, Inc. (b) (c) | 117,014 | 87,131 | ||||||
Delphi Energy Corp. (b) (c) | 13,683 | 9,233 | ||||||
Denison Mines Corp. (b) (c) | 152,820 | 68,750 | ||||||
DIRTT Environmental Solutions (b) (c) | 32,497 | 124,770 | ||||||
Dorel Industries, Inc. Class B | 15,818 | 357,646 | ||||||
Dream Global Real Estate Investment Trust | 32,374 | 345,272 | ||||||
Dream Office Real Estate Investment Trust | 17,206 | 311,623 | ||||||
DREAM Unlimited Corp. Class A (c) | 8,299 | 59,479 | ||||||
Dundee Precious Metals, Inc. (c) | 5,981 | 14,289 | ||||||
ECN Capital Corp. | 236,190 | 630,206 | ||||||
Eldorado Gold Corp. (b) (c) | 423,596 | 354,845 | ||||||
Endeavour Mining Corp. (b) (c) | 28,689 | 528,941 | ||||||
Endeavour Silver Corp. (b) (c) | 6,339 | 15,390 | ||||||
Enercare, Inc. | 51,316 | 702,125 | ||||||
Enerflex, Ltd. | 44,458 | 529,668 | ||||||
Enghouse Systems, Ltd. | 12,283 | 649,282 | ||||||
Ensign Energy Services, Inc. | 59,747 | 279,908 | ||||||
Entertainment One, Ltd. | 153,154 | 603,713 | ||||||
Equitable Group, Inc. (b) | 6,943 | 289,083 | ||||||
Exchange Income Corp. (b) | 13,641 | 326,516 | ||||||
Extendicare, Inc. | 48,876 | 320,722 | ||||||
Fiera Capital Corp. | 32,677 | 278,550 |
119
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Firm Capital Mortgage Investment Corp. | 33,159 | $ | 333,069 | |||||
First Majestic Silver Corp. (b) (c) | 100,725 | 616,421 | ||||||
First Mining Gold Corp. (b) (c) | 387,444 | 136,736 | ||||||
Fortuna Silver Mines, Inc. (c) | 81,720 | 425,952 | ||||||
Freehold Royalties, Ltd. (b) | 56,141 | 537,787 | ||||||
GASFRAC Energy Services, Inc. (a) (c) | 21,904 | — | ||||||
Gibson Energy, Inc. (b) | 67,055 | 863,900 | ||||||
Gluskin Sheff + Associates, Inc. (b) | 13,685 | 154,762 | ||||||
Gran Tierra Energy, Inc. (c) | 124,537 | 345,815 | ||||||
Granite Oil Corp. (b) | 14,562 | 29,932 | ||||||
Granite Real Estate Investment Trust | 26,352 | 1,038,546 | ||||||
Great Basin Gold, Ltd. (a) (c) | 266,255 | — | ||||||
Great Canadian Gaming Corp. (c) | 31,084 | 789,366 | ||||||
Guyana Goldfields, Inc. (c) | 84,423 | 326,102 | ||||||
High Liner Foods, Inc. (b) | 6,003 | 51,917 | ||||||
Home Capital Group, Inc. (b) | 25,030 | 263,259 | ||||||
Horizon North Logistics, Inc. (b) | 7,464 | 12,158 | ||||||
Hudson’s Bay Co. (b) | 65,758 | 454,963 | ||||||
Innergex Renewable Energy, Inc. (b) | 61,484 | 628,074 | ||||||
Interfor Corp. (c) | 29,785 | 542,680 | ||||||
InterRent Real Estate Investment Trust | 8,676 | 68,102 | ||||||
Intertape Polymer Group, Inc. | 37,810 | 607,365 | ||||||
Jamieson Wellness, Inc. | 17,522 | 312,589 | ||||||
Just Energy Group, Inc. (b) | 38,191 | 168,553 | ||||||
Kelt Exploration, Ltd. (c) | 62,551 | 333,799 | ||||||
Killam Apartment Real Estate Investment Trust | 21,874 | 235,494 | ||||||
Kinaxis, Inc. (c) | 12,732 | 818,087 | ||||||
Kinder Morgan Canada, Ltd. (e) | �� | 61,919 | 889,943 | |||||
Klondex Mines, Ltd. (b) (c) | 66,975 | 158,444 | ||||||
Knight Therapeutics, Inc. (c) | 33,447 | 201,058 | ||||||
Labrador Iron Ore Royalty Corp. (b) | 27,212 | 445,354 | ||||||
Laurentian Bank of Canada (b) | 19,532 | 717,499 | ||||||
Lightstream Resources, Ltd. (a) (c) | 64,736 | — | ||||||
Liquor Stores NA, Ltd. (b) | 17,364 | 132,124 | ||||||
Lithium Americas Corp. (b) (c) | 31,466 | 170,357 | ||||||
Lucara Diamond Corp. (b) | 120,945 | 188,559 | ||||||
MAG Silver Corp. (c) | 52,526 | 514,158 | ||||||
Major Drilling Group International, Inc. (c) | 49,449 | 255,443 | ||||||
Martinrea International, Inc. | 72,689 | 858,680 | ||||||
Maxar Technologies, Ltd. | 18,693 | 863,858 | ||||||
Medical Facilities Corp. (b) | 17,536 | 190,832 | ||||||
MEG Energy Corp. (c) | 93,603 | 330,342 | ||||||
Morneau Shepell, Inc. | 36,478 | 731,399 | ||||||
Mountain Province Diamonds, Inc. (b) (c) | 45,342 | 112,542 | ||||||
MTY Food Group, Inc. | 10,372 | 405,467 | ||||||
Mullen Group, Ltd. (b) | 62,813 | 717,654 | ||||||
Nemaska Lithium, Inc. (b) (c) | 227,162 | 232,580 |
Security Description | Shares | Value | ||||||
Nevsun Resources, Ltd. | 114,693 | $ | 273,110 | |||||
NexGen Energy, Ltd. (b) (c) | 160,084 | 275,654 | ||||||
North American Palladium, Ltd. (c) | 3 | 23 | ||||||
North West Co., Inc. (b) | 30,738 | 644,443 | ||||||
Northern Dynasty Minerals, Ltd. (b) (c) | 178,624 | 166,259 | ||||||
Northview Apartment Real Estate Investment Trust | 16,170 | 323,588 | ||||||
NorthWest Healthcare Properties Real Estate Investment Trust | 22,829 | 199,560 | ||||||
Novagold Resources, Inc. (b) (c) | 124,448 | 538,623 | ||||||
NuVista Energy, Ltd. (c) | 109,764 | 601,073 | ||||||
Obsidian Energy, Ltd. (c) | 202,221 | 202,339 | ||||||
Osisko Mining, Inc. (c) | 94,809 | 187,522 | ||||||
Painted Pony Energy, Ltd. (b) (c) | 84,091 | 138,929 | ||||||
Paramount Resources, Ltd. Class A (b) (c) | 42,245 | 485,936 | ||||||
Parex Resources, Inc. (c) | 97,136 | 1,365,216 | ||||||
Pason Systems, Inc. | 41,735 | 558,409 | ||||||
Pengrowth Energy Corp. (b) (c) | 250,663 | 161,373 | ||||||
Pizza Pizza Royalty Corp. (b) | 23,903 | 262,344 | ||||||
Poseidon Concepts Corp. (a) (c) | 43,064 | — | ||||||
Precision Drilling Corp. (c) | 150,796 | 418,732 | ||||||
Premier Gold Mines, Ltd. (c) | 102,550 | 224,309 | ||||||
Pretium Resources, Inc. (c) | 79,705 | 529,203 | ||||||
Primero Mining Corp. (c) | 3,044 | 578 | ||||||
ProMetic Life Sciences, Inc. (c) (f) | 3,753 | 2,534 | ||||||
ProMetic Life Sciences, Inc. (b) (c) (f) | 284,868 | 194,442 | ||||||
Pure Industrial Real Estate Trust | 62,344 | 388,789 | ||||||
Quarterhill, Inc. | 1,143 | 1,658 | ||||||
Raging River Exploration, Inc. (c) | 139,819 | 676,727 | ||||||
Redknee Solutions, Inc. (c) | 837 | 682 | ||||||
Rogers Sugar, Inc. (b) | 66,691 | 320,717 | ||||||
Rubicon Minerals Corp. (c) | 15 | 15 | ||||||
Russel Metals, Inc. | 35,096 | 763,850 | ||||||
Sabina Gold & Silver Corp. (b) (c) | 120,945 | 148,220 | ||||||
Sandstorm Gold, Ltd. (b) (c) | 112,428 | 535,434 | ||||||
Savaria Corp. (b) | 24,768 | 331,393 | ||||||
Seabridge Gold, Inc. (b) (c) | 2,617 | 28,377 | ||||||
Secure Energy Services, Inc. (b) | 113,587 | 646,677 | ||||||
SEMAFO, Inc. (c) | 148,739 | 428,018 | ||||||
ShawCor, Ltd. | 34,538 | 653,657 | ||||||
Sherritt International Corp. (b) (c) | 173,307 | 151,900 | ||||||
Sienna Senior Living, Inc. (b) | 39,945 | 552,429 | ||||||
Sierra Wireless, Inc. (b) (c) | 18,079 | 297,986 | ||||||
Silvercorp Metals, Inc. (b) | 76,098 | 204,817 | ||||||
SilverCrest Metals, Inc. (c) | 54 | 97 | ||||||
Slate Office REIT | 37,961 | 224,365 | ||||||
Sleep Country Canada Holdings, Inc. (b) (e) | 17,718 | 468,769 | ||||||
Southern Pacific Resource Corp. (a) (c) | 281,142 | — | ||||||
Spartan Energy Corp. (c) | 540 | 2,404 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Sprott, Inc. (b) | 134,962 | $ | 325,563 | |||||
SSR Mining, Inc. (c) | 70,423 | 677,874 | ||||||
Stornoway Diamond Corp. (b) (c) | 161,072 | 69,963 | ||||||
Stuart Olson, Inc. | 69 | 400 | ||||||
Student Transportation, Inc. (b) | 40,033 | 299,335 | ||||||
Summit Industrial Income REIT | 41,804 | 265,885 | ||||||
SunOpta, Inc. (c) | 33,327 | 236,622 | ||||||
Sunshine Oilsands, Ltd. (c) | 902,000 | 26,893 | ||||||
Superior Plus Corp. | 63,805 | 610,707 | ||||||
Surge Energy, Inc. (b) | 11,420 | 17,450 | ||||||
Tamarack Valley Energy, Ltd. (c) | 178,088 | 386,772 | ||||||
Teranga Gold Corp. (c) | 34,681 | 120,782 | ||||||
Theratechnologies, Inc. (b) (c) | 56,757 | 410,737 | ||||||
Timbercreek Financial Corp. | 26,960 | 190,084 | ||||||
TORC Oil & Gas, Ltd. (b) | 55,989 | 286,622 | ||||||
Torex Gold Resources, Inc. (c) | 39,782 | 244,076 | ||||||
Total Energy Services, Inc. (b) | 43,497 | 463,901 | ||||||
TransAlta Corp. | 151,134 | 818,240 | ||||||
Transcontinental, Inc. Class A | 43,467 | 858,046 | ||||||
Trevali Mining Corp. (c) | 386,384 | 389,606 | ||||||
Trican Well Service, Ltd. (c) | 213,951 | 497,850 | ||||||
Tricon Capital Group, Inc. (b) | 69,822 | 533,447 | ||||||
Trinidad Drilling, Ltd. (b) (c) | 10,054 | 13,881 | ||||||
Twin Butte Energy, Ltd. (a) (c) | 83,708 | — | ||||||
Uni-Select, Inc. (b) | 63,834 | 990,250 | ||||||
Valener, Inc. (b) | 11,099 | 174,072 | ||||||
Wajax Corp. | 5,897 | 111,422 | ||||||
Western Forest Products, Inc. | 199,842 | 401,467 | ||||||
Westshore Terminals Investment Corp. (b) | 30,655 | 529,760 | ||||||
Yellow Pages, Ltd. (b) (c) | 616 | 3,340 | ||||||
ZCL Composites, Inc. (b) | 24,065 | 219,138 | ||||||
|
| |||||||
72,555,161 | ||||||||
|
| |||||||
CHINA — 0.3% |
| |||||||
APT Satellite Holdings, Ltd. (b) | 139,300 | 64,074 | ||||||
Beijing Tong Ren Tang Chinese Medicine Co., Ltd. | 87,000 | 163,396 | ||||||
BOE Varitronix, Ltd. (b) | 106,000 | 54,025 | ||||||
China Everbright Water, Ltd. | 19,393 | 6,285 | ||||||
China Gold International Resources Corp., Ltd. (c) | 85,860 | 177,148 | ||||||
China Merchants Land, Ltd. | 212,000 | 44,570 | ||||||
China Yuchai International, Ltd. (b) | 23,659 | 500,861 | ||||||
Chong Hing Bank, Ltd. | 57,000 | 113,589 | ||||||
Gemdale Properties & Investment Corp., Ltd. (b) | 2,872,000 | 343,983 | ||||||
Greenland Hong Kong Holdings, Ltd. | 205,000 | 98,212 | ||||||
HC International, Inc. (b) | 7,000 | 5,075 | ||||||
HengTen Networks Group, Ltd. (b) (c) | 11,384,000 | 485,919 | ||||||
Nam Tai Property, Inc. (b) | 14,321 | 178,297 | ||||||
Sino Grandness Food Industry Group, Ltd. (c) | 100,972 | 15,092 | ||||||
Towngas China Co., Ltd. (c) | 491,000 | 427,294 | ||||||
|
| |||||||
2,677,820 | ||||||||
|
|
Security Description | Shares | Value | ||||||
DENMARK — 0.7% |
| |||||||
ALK-Abello A/S (c) | 2,483 | $ | 310,124 | |||||
Alm Brand A/S | 21,279 | 215,918 | ||||||
Amagerbanken A/S (a) (c) | 308,573 | — | ||||||
Ascendis Pharma A/S ADR (c) | 13,171 | 861,383 | ||||||
Bang & Olufsen A/S (c) | 31,271 | 787,334 | ||||||
D/S Norden A/S (c) | 14,525 | 259,542 | ||||||
Forward Pharma A/S ADR (b) (c) | 29,426 | 63,854 | ||||||
H+H International A/S Class B (c) | 32,493 | 704,447 | ||||||
Matas A/S | 14,761 | 159,278 | ||||||
NNIT A/S (e) | 8,266 | 235,942 | ||||||
OW Bunker A/S (a) (c) | 9,828 | — | ||||||
Per Aarsleff Holding A/S | 12,313 | 460,145 | ||||||
Ringkjoebing Landbobank A/S | 11,143 | 610,384 | ||||||
Scandinavian Tobacco Group A/S Class A (e) | 31,758 | 558,040 | ||||||
Solar A/S Class B | 1,563 | 102,895 | ||||||
Spar Nord Bank A/S | 37,048 | 439,498 | ||||||
Zealand Pharma A/S (b) (c) | 23,624 | 362,883 | ||||||
|
| |||||||
6,131,667 | ||||||||
|
| |||||||
FINLAND — 0.7% |
| |||||||
Ahtium PLC (a) | 572,382 | — | ||||||
Caverion Oyj (b) (c) | 34,827 | 262,774 | ||||||
Cramo Oyj | 16,757 | 349,316 | ||||||
Ferratum Oyj | 7,628 | 241,099 | ||||||
Finnair Oyj | 30,074 | 417,948 | ||||||
F-Secure Oyj | 67,911 | 305,267 | ||||||
Kemira Oyj | 50,506 | 645,994 | ||||||
Lehto Group Oyj | 17,419 | 250,218 | ||||||
Oriola Oyj Class B (b) | 37,305 | 112,864 | ||||||
Outotec Oyj (c) | 61,885 | 552,553 | ||||||
Pihlajalinna Oyj | 12,153 | 188,623 | ||||||
Raisio Oyj Class V | 48,342 | 215,221 | ||||||
Ramirent Oyj | 36,360 | 299,383 | ||||||
Revenio Group Oyj | 16,146 | 254,966 | ||||||
Sanoma Oyj | 36,603 | 428,779 | ||||||
Stockmann Oyj Abp Class B (b) (c) | 16,933 | 79,343 | ||||||
Technopolis Oyj | 54,016 | 243,804 | ||||||
Tikkurila Oyj (b) | 21,661 | 416,114 | ||||||
Tokmanni Group Corp. | 23,346 | 190,505 | ||||||
Uponor Oyj | 27,200 | 453,943 | ||||||
YIT Oyj (b) | 75,994 | 635,537 | ||||||
|
| |||||||
6,544,251 | ||||||||
|
| |||||||
FRANCE — 2.1% |
| |||||||
AB Science SA (b) (c) | 14,637 | 147,971 | ||||||
Akka Technologies | 7,582 | 460,641 | ||||||
Albioma SA | 12,470 | 295,376 | ||||||
Assystem | 2,312 | 79,189 | ||||||
Beneteau SA | 13,790 | 299,507 | ||||||
Boiron SA | 3,478 | 293,003 | ||||||
Bonduelle SCA | 5,283 | 223,182 | ||||||
Bourbon Corp. (b) | 9,415 | 55,116 | ||||||
Cellectis SA (c) | 15,546 | 493,277 | ||||||
CGG SA (c) | 2,270 | 4,498 | ||||||
Chargeurs SA | 9,051 | 264,036 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Cie des Alpes | 6,074 | $ | 220,742 | |||||
Coface SA (c) | 44,920 | 513,225 | ||||||
Derichebourg SA | 34,674 | 304,690 | ||||||
Devoteam SA | 3,114 | 329,359 | ||||||
Eramet (c) | 4,433 | 609,525 | ||||||
Esker SA | 9,890 | 632,488 | ||||||
Etablissements Maurel et Prom (c) | 2,112 | 10,026 | ||||||
Gaztransport Et Technigaz SA | 12,659 | 792,446 | ||||||
Genfit (b) (c) | 11,751 | 339,621 | ||||||
GL Events | 25,257 | 759,474 | ||||||
Guerbet | 3,187 | 253,594 | ||||||
Haulotte Group SA | 3,419 | 70,389 | ||||||
ID Logistics Group (c) | 1,321 | 235,572 | ||||||
Innate Pharma SA (b) (c) | 22,385 | 157,886 | ||||||
Interparfums SA | 2,369 | 108,966 | ||||||
IPSOS | 15,750 | 618,295 | ||||||
Jacquet Metal Service | 32,185 | 1,161,753 | ||||||
Kaufman & Broad SA | 8,613 | 452,520 | ||||||
Lectra | 15,796 | 445,843 | ||||||
LNA Sante SA | 7,837 | 545,530 | ||||||
Maisons du Monde SA (e) | 20,770 | 757,635 | ||||||
Manitou BF SA | 6,410 | 271,975 | ||||||
Marie Brizard Wine & Spirits SA (b) (c) | 15,149 | 164,884 | ||||||
Mercialys SA REIT | 20,323 | 390,160 | ||||||
Mersen SA | 24,448 | 1,110,990 | ||||||
Nanobiotix (c) | 14,458 | 225,288 | ||||||
Naturex (c) | 3,723 | 613,550 | ||||||
Neopost SA | 19,568 | 515,006 | ||||||
Nicox (b) (c) | 18,775 | 209,430 | ||||||
Parrot SA (c) | 7,234 | 46,441 | ||||||
Pierre & Vacances SA (c) | 1,118 | 49,980 | ||||||
Rallye SA (b) | 11,534 | 173,058 | ||||||
SOITEC (c) | 9,715 | 703,737 | ||||||
Solocal Group (c) | 215,891 | 305,341 | ||||||
Solutions 30 SE (c) | 22,421 | 846,536 | ||||||
SRP Groupe SA (c) (e) | 617 | 5,919 | ||||||
Ste Industrielle d’Aviation Latecoere SA (c) | 57,225 | 350,132 | ||||||
Talend SA ADR (c) | 9,754 | 469,363 | ||||||
Technicolor SA | 231,502 | 391,195 | ||||||
Valneva SE (b) (c) | 48,298 | 211,462 | ||||||
Virbac SA (b) (c) | 2,004 | 294,276 | ||||||
|
| |||||||
19,284,098 | ||||||||
|
| |||||||
GERMANY — 3.2% |
| |||||||
ADVA Optical Networking SE (c) | 12,961 | 85,200 | ||||||
AIXTRON SE (c) | 65,663 | 1,265,845 | ||||||
Amadeus Fire AG | 3,391 | 378,674 | ||||||
Aumann AG (c) (e) | 3,600 | 228,014 | ||||||
AURELIUS Equity Opportunities SE & Co. KGaA (b) | 16,504 | 1,148,836 | ||||||
Bauer AG | 5,817 | 136,928 | ||||||
BayWa AG | 2,457 | 86,573 | ||||||
Bertrandt AG | 3,032 | 345,483 | ||||||
bet-at-home.com AG | 1,893 | 159,592 |
Security Description | Shares | Value | ||||||
Bilfinger SE | 16,876 | $ | 767,933 | |||||
Biotest AG Preference Shares | 12,344 | 402,304 | ||||||
Borussia Dortmund GmbH & Co. KGaA | 42,423 | 266,870 | ||||||
CANCOM SE | 9,426 | 969,718 | ||||||
Cewe Stiftung & Co. KGAA | 3,403 | 334,396 | ||||||
Deutsche Beteiligungs AG | 6,765 | 327,390 | ||||||
Deutsche Pfandbriefbank AG (e) | 38,712 | 609,408 | ||||||
Deutz AG | 65,701 | 601,978 | ||||||
DIC Asset AG | 70,520 | 888,105 | ||||||
Draegerwerk AG & Co. KGaA | 2,429 | 178,940 | ||||||
Draegerwerk AG & Co. KGaA Preference Shares | 1,598 | 151,721 | ||||||
Elmos Semiconductor AG | 10,842 | 332,018 | ||||||
ElringKlinger AG (b) | 8,970 | 167,021 | ||||||
Encavis AG | 68,772 | 542,153 | ||||||
GFT Technologies SE | 12,684 | 202,948 | ||||||
Grammer AG | 8,001 | 501,350 | ||||||
Hamborner REIT AG | 48,569 | 563,278 | ||||||
Heidelberger Druckmaschinen AG (c) | 123,809 | 463,499 | ||||||
HELMA Eigenheimbau AG | 2,747 | 125,508 | ||||||
Hornbach Holding AG & Co. KGaA | 2,722 | 228,979 | ||||||
Hypoport AG (b) (c) | 2,075 | 348,085 | ||||||
Indus Holding AG | 29,915 | 2,093,407 | ||||||
Isra Vision AG | 853 | 179,390 | ||||||
Jenoptik AG | 80,061 | 2,827,859 | ||||||
Kloeckner & Co. SE | 37,866 | 475,009 | ||||||
Koenig & Bauer AG | 9,313 | 853,866 | ||||||
KSB SE & Co. KGaA Preference Shares | 274 | 150,293 | ||||||
LPKF Laser & Electronics AG (c) | 10,752 | 115,440 | ||||||
Medigene AG (c) | 15,725 | 279,454 | ||||||
MLP SE | 28,393 | 172,326 | ||||||
Nordex SE (b) (c) | 41,729 | 362,835 | ||||||
Norma Group SE | 16,699 | 1,248,666 | ||||||
PATRIZIA Immobilien AG (c) | 59,943 | 1,326,977 | ||||||
Pfeiffer Vacuum Technology AG | 2,311 | 358,968 | ||||||
QSC AG | 2,159 | 3,770 | ||||||
RIB Software SE | 17,827 | 379,075 | ||||||
SAF-Holland SA | 16,971 | 342,297 | ||||||
SGL Carbon SE (c) | 25,161 | 354,312 | ||||||
SLM Solutions Group AG (c) | 6,178 | 244,276 | ||||||
SMA Solar Technology AG | 3,832 | 216,694 | ||||||
STRATEC Biomedical AG | 3,189 | 287,874 | ||||||
SUESS MicroTec SE (c) | 11,303 | 172,372 | ||||||
Surteco SE | 8,897 | 275,738 | ||||||
Takkt AG | 17,573 | 399,825 | ||||||
Technotrans AG | 4,261 | 210,402 | ||||||
Tele Columbus AG (c) (e) | 30,296 | 326,766 | ||||||
TLG Immobilien AG | 23,433 | 642,666 | ||||||
Trivago NV ADR (c) | 21,256 | 147,729 | ||||||
Vossloh AG (c) | 4,456 | 223,045 | ||||||
VTG AG | 4,559 | 257,637 | ||||||
Wacker Neuson SE | 10,416 | 360,477 | ||||||
Washtec AG | 6,493 | 618,071 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
XING SE | 1,787 | $ | 519,766 | |||||
Zeal Network SE | 5,500 | 176,545 | ||||||
zooplus AG (c) | 2,843 | 517,477 | ||||||
|
| |||||||
29,930,051 | ||||||||
|
| |||||||
GREECE — 0.0% (g) |
| |||||||
TT Hellenic Postbank SA (a) (c) | 129,076 | — | ||||||
|
| |||||||
HONG KONG — 2.6% |
| |||||||
Beijing Gas Blue Sky Holdings, Ltd. (b) (c) | 3,848,000 | 269,663 | ||||||
Cafe de Coral Holdings, Ltd. | 177,191 | 442,509 | ||||||
Century Sunshine Group Holdings, Ltd. (c) | 114,998 | 3,663 | ||||||
China Baoli Technologies Holdings, Ltd. (c) | 6,523,200 | 100,570 | ||||||
China Goldjoy Group, Ltd. | 4,384,000 | 323,984 | ||||||
China Household Holdings, Ltd. (c) (d) | 780,000 | 50,686 | ||||||
China Innovationpay Group, Ltd. (b) (c) | 2,532,000 | 161,309 | ||||||
China LNG Group, Ltd. (b) (c) | 445,499 | 67,549 | ||||||
China LotSynergy Holdings, Ltd. (c) | 460,000 | 8,616 | ||||||
China Ocean Resources Co., Ltd. (a) (b) (c) | 26,593 | — | ||||||
China Regenerative Medicine International, Ltd. (b) (c) | 6,343,056 | 126,080 | ||||||
China Ruifeng Renewable Energy Holdings, Ltd. (c) | 71,200 | 5,897 | ||||||
China Smarter Energy Group Holdings, Ltd. (b) (c) | 2,134,000 | 239,277 | ||||||
China Strategic Holdings, Ltd. (c) | 6,293,367 | 71,367 | ||||||
China Water Industry Group, Ltd. (b) (c) | 440,000 | 93,065 | ||||||
Chow Sang Sang Holdings International, Ltd. | 269,939 | 567,511 | ||||||
CK Life Sciences Int’l Holdings, Inc. | 2,884,000 | 209,457 | ||||||
Common Splendor International Health Industry Group, Ltd. (b) (c) | 2,450,000 | 296,561 | ||||||
Digital Domain Holdings, Ltd. (b) (c) | 2,626,696 | 57,231 | ||||||
Dingyi Group Investment, Ltd. (b) (c) | 1,160,000 | 122,676 | ||||||
Enerchina Holdings, Ltd. (b) | 426,385 | 27,164 | ||||||
Esprit Holdings, Ltd. (b) (c) | 975,935 | 332,014 | ||||||
Evergrande Health Industry Group, Ltd. (b) (c) | 1,335,000 | 525,611 | ||||||
Fairwood Holdings, Ltd. | 162,500 | 637,718 | ||||||
FDG Electric Vehicles, Ltd. (b) (c) | 7,927,493 | 262,624 | ||||||
Freeman FinTech Corp., Ltd. (c) | 5,180,000 | 924,022 | ||||||
Future World Financial Holdings, Ltd. (c) | 4,910,303 | 130,136 | ||||||
GCL New Energy Holdings, Ltd. (b) (c) | 3,962,000 | 224,646 | ||||||
Giordano International, Ltd. | 1,484,000 | 869,793 |
Security Description | Shares | Value | ||||||
Global Brands Group Holding, Ltd. (c) | 2,294,000 | $ | 128,609 | |||||
Global Cord Blood Corp. (c) | 49,364 | 503,513 | ||||||
G-Resources Group, Ltd. (c) | 4,105,790 | 38,189 | ||||||
HKBN, Ltd. | 572,413 | 675,375 | ||||||
HKR International, Ltd. (b) | 2,347,259 | 1,405,670 | ||||||
HMV Digital China Group, Ltd. (b) (c) | 8,560,000 | 260,673 | ||||||
Honbridge Holdings, Ltd. (b) (c) | 1,472,000 | 296,339 | ||||||
Hopewell Highway Infrastructure, Ltd. | 626,000 | 382,062 | ||||||
Huarong International Financial Holdings, Ltd. (b) (c) | 366,000 | 102,129 | ||||||
Hutchison Telecommunications Hong Kong Holdings, Ltd. (b) | 836,000 | 293,995 | ||||||
K Wah International Holdings, Ltd. | 1,787,548 | 1,186,642 | ||||||
Kong Sun Holdings, Ltd. (c) | 75,000 | 2,150 | ||||||
Lai Sun Development Co., Ltd. | 148,200 | 242,836 | ||||||
Landing International Development, Ltd. (c) | 39,786,000 | 1,105,124 | ||||||
Lee’s Pharmaceutical Holdings, Ltd. | 227,000 | 294,441 | ||||||
Noble Group, Ltd. (b) (c) | 709,919 | 42,228 | ||||||
O Luxe Holdings, Ltd. (b) (c) | 880,000 | 196,221 | ||||||
Pacific Basin Shipping, Ltd. (c) | 1,857,000 | 496,885 | ||||||
Pacific Textiles Holdings, Ltd. (b) | 510,000 | 488,017 | ||||||
Panda Green Energy Group, Ltd. (b) (c) | 2,362,000 | 252,804 | ||||||
PAX Global Technology, Ltd. (b) | 378,000 | 170,980 | ||||||
Peace Mark Holdings, Ltd. (a) (c) | 504,228 | — | ||||||
Pico Far East Holdings, Ltd. (b) | 202,000 | 77,214 | ||||||
Playmates Toys, Ltd. | 108,000 | 11,834 | ||||||
Prosperity REIT | 620,000 | 258,323 | ||||||
Road King Infrastructure, Ltd. | 639,482 | 1,264,575 | ||||||
Sa Sa International Holdings, Ltd. | 756,906 | 391,555 | ||||||
Shun Tak Holdings, Ltd. | 1,340,849 | 553,540 | ||||||
Singamas Container Holdings, Ltd. | 960,000 | 160,239 | ||||||
SmarTone Telecommunications Holdings, Ltd. | 239,631 | 254,949 | ||||||
SMI Holdings Group, Ltd. (b) | 664,081 | 287,690 | ||||||
Spring Real Estate Investment Trust | 273,000 | 118,615 | ||||||
Stella International Holdings, Ltd. | 213,500 | 284,547 | ||||||
Summit Ascent Holdings, Ltd. (c) | 26,000 | 3,048 | ||||||
Sun Hung Kai & Co., Ltd. | 357,000 | 222,434 | ||||||
SUNeVision Holdings, Ltd. | 301,000 | 189,844 | ||||||
Sunlight Real Estate Investment Trust | 182,000 | 123,601 | ||||||
Superb Summit International Group, Ltd. (a) (b) (c) | 1,685,500 | — | ||||||
Television Broadcasts, Ltd. (b) | 171,016 | 566,545 | ||||||
Texhong Textile Group, Ltd. | 240,500 | 337,079 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Texwinca Holdings, Ltd. | 704,850 | $ | 370,014 | |||||
Tongda Group Holdings, Ltd. (b) | 2,320,000 | 443,408 | ||||||
Tongda Hong Tai Holdings, Ltd. (b) (c) | 58,499 | 11,628 | ||||||
Tou Rong Chang Fu Group, Ltd. (c) | 2,492,000 | 44,453 | ||||||
Town Health International Medical Group, Ltd. (b) (d) | 1,848,000 | 162,471 | ||||||
Truly International Holdings, Ltd. (b) | 838,000 | 212,482 | ||||||
Value Partners Group, Ltd. (b) | 456,000 | 424,724 | ||||||
Viva China Holdings, Ltd. (c) | 1,968,000 | 223,172 | ||||||
Yuexiu Real Estate Investment Trust | 1,204,000 | 834,545 | ||||||
|
| |||||||
23,548,810 | ||||||||
|
| |||||||
INDIA — 0.0% (g) |
| |||||||
Eros International PLC (b) (c) | 17,109 | 186,488 | ||||||
|
| |||||||
IRELAND — 0.8% |
| |||||||
Amarin Corp. PLC ADR (b) (c) | 157,919 | 475,336 | ||||||
C&C Group PLC | 169,203 | 553,531 | ||||||
Cairn Homes PLC (c) | 402,383 | 895,716 | ||||||
Dalata Hotel Group PLC (c) | 85,979 | 655,596 | ||||||
Fly Leasing, Ltd. ADR (c) | 25,780 | 343,132 | ||||||
Green REIT PLC | 338,660 | 630,583 | ||||||
Greencore Group PLC | 396,492 | 737,242 | ||||||
Hibernia REIT PLC | 403,219 | 716,078 | ||||||
Hostelworld Group PLC (e) | 55,536 | 297,600 | ||||||
Irish Continental Group PLC | 81,961 | 576,575 | ||||||
Irish Residential Properties REIT PLC | 378,040 | 646,256 | ||||||
Origin Enterprises PLC | 63,646 | 418,772 | ||||||
Trinity Biotech PLC ADR (b) (c) | 21,125 | 108,794 | ||||||
|
| |||||||
7,055,211 | ||||||||
|
| |||||||
ISRAEL — 1.8% |
| |||||||
Africa Israel Properties, Ltd. (c) | 2,747 | 67,602 | ||||||
Airport City, Ltd. (c) | 46,751 | 503,082 | ||||||
Alony Hetz Properties & Investments, Ltd. | 35,860 | 322,866 | ||||||
Amot Investments, Ltd. | 55,907 | 299,054 | ||||||
Bayside Land Corp. | 737 | 348,258 | ||||||
Caesarstone, Ltd. (b) | 11,701 | 229,925 | ||||||
Cellcom Israel, Ltd. (c) | 35,365 | 249,610 | ||||||
Ceragon Networks, Ltd. (c) | 49,947 | 134,358 | ||||||
Clal Insurance Enterprises Holdings, Ltd. (c) | 17,408 | 313,219 | ||||||
CyberArk Software, Ltd. (c) | 15,505 | 791,065 | ||||||
Delek Automotive Systems, Ltd. | 22,030 | 164,903 | ||||||
Delta-Galil Industries, Ltd. | 5,974 | 175,603 | ||||||
Electra, Ltd. | 2,323 | 582,264 | ||||||
First International Bank Of Israel, Ltd. | 28,197 | 593,520 | ||||||
Gazit-Globe, Ltd. | 52,419 | 517,046 | ||||||
Harel Insurance Investments & Financial Services, Ltd. | 46,683 | 368,720 | ||||||
IDI Insurance Co., Ltd. | 7,373 | 480,914 |
Security Description | Shares | Value | ||||||
Inrom Construction Industries, Ltd. | 78,808 | $ | 365,886 | |||||
Israel Corp., Ltd. (c) | 1,645 | 308,679 | ||||||
Israel Discount Bank, Ltd. Class A (c) | 1 | 3 | ||||||
Ituran Location & Control, Ltd. | 14,634 | 455,117 | ||||||
Jerusalem Economy, Ltd. (c) | 140,383 | 339,157 | ||||||
Jerusalem Oil Exploration (c) | 5,940 | 329,920 | ||||||
Kornit Digital, Ltd. (b) (c) | 19,621 | 253,111 | ||||||
Matrix IT, Ltd. | 16,315 | 183,790 | ||||||
Mazor Robotics, Ltd. (c) | 18,681 | 548,056 | ||||||
Migdal Insurance & Financial Holding, Ltd. | 195,785 | 208,731 | ||||||
Norstar Holdings, Inc. | 7,373 | 133,837 | ||||||
Nova Measuring Instruments, Ltd. (c) | 27,359 | 735,475 | ||||||
Oil Refineries, Ltd. | 1,082,188 | 499,967 | ||||||
Orbotech, Ltd. (c) | 27,030 | 1,680,725 | ||||||
Partner Communications Co., Ltd. (c) | 59,636 | 268,382 | ||||||
Paz Oil Co., Ltd. | 6,194 | 909,468 | ||||||
Radware, Ltd. (c) | 28,846 | 615,862 | ||||||
Rami Levy Chain Stores Hashikma Marketing 2006, Ltd. | 4,968 | 249,330 | ||||||
Reit 1, Ltd. | 126,955 | 520,353 | ||||||
Sapiens International Corp. NV | 27,779 | 244,095 | ||||||
Shikun & Binui, Ltd. | 87,466 | 143,873 | ||||||
Shufersal, Ltd. | 63,496 | 403,853 | ||||||
SodaStream International, Ltd. (c) | 12,129 | 1,113,806 | ||||||
|
| |||||||
16,653,485 | ||||||||
|
| |||||||
ITALY — 1.2% |
| |||||||
Ascopiave SpA | 40,781 | 163,504 | ||||||
Astaldi SpA (b) | 5,170 | 14,077 | ||||||
Banca Carige SpA (c) | 20,299,877 | 204,720 | ||||||
Banca Farmafactoring SpA (b) (c) (e) | 49,574 | 362,153 | ||||||
Banca Monte dei Paschi di Siena SpA (b) (c) | 552 | 1,746 | ||||||
Banca Popolare di Sondrio SCPA | 210,093 | 831,476 | ||||||
BasicNet SpA | 28,477 | 130,283 | ||||||
Beni Stabili SpA SIIQ | 406,020 | 337,556 | ||||||
Brunello Cucinelli SpA | 13,427 | 421,087 | ||||||
Cairo Communication SpA (b) | 38,351 | 172,156 | ||||||
Cementir Holding SpA | 36,541 | 316,827 | ||||||
CIR-Compagnie Industriali Riunite SpA | 93,403 | 123,602 | ||||||
Credito Valtellinese SpA (c) | 5,448,470 | 771,933 | ||||||
Danieli & C Officine Meccaniche SpA | 18,710 | 340,555 | ||||||
Datalogic SpA | 8,499 | 266,016 | ||||||
doBank SpA (c) (e) | 23,470 | 330,500 | ||||||
Ei Towers SpA | 19,047 | 1,067,007 | ||||||
Esprinet SpA (b) | 47,517 | 254,209 | ||||||
Fila SpA | 11,577 | 248,880 | ||||||
Fincantieri SpA (c) | 265,591 | 388,698 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
GEDI Gruppo Editoriale SpA (c) | 2,802 | $ | 1,546 | |||||
Immobiliare Grande Distribuzione SIIQ SpA | 16,859 | 157,330 | ||||||
Italmobiliare SpA | 2,418 | 67,951 | ||||||
Juventus Football Club SpA (b) (c) | 213,733 | 169,676 | ||||||
Maire Tecnimont SpA (b) | 68,949 | 354,451 | ||||||
MARR SpA | 13,498 | 400,737 | ||||||
Massimo Zanetti Beverage Group SpA (e) | 11,939 | 107,040 | ||||||
OVS SpA (e) | 78,508 | 481,028 | ||||||
Piaggio & C SpA | 91,952 | 255,125 | ||||||
RAI Way SpA (e) | 52,791 | 292,487 | ||||||
Safilo Group SpA (c) | 628 | 3,170 | ||||||
Salini Impregilo SpA (b) | 97,192 | 288,071 | ||||||
Societa Cattolica di Assicurazioni SC | 80,506 | 856,439 | ||||||
Sogefi SpA (b) (c) | 37,461 | 134,713 | ||||||
Tamburi Investment Partners SpA | 72,838 | 548,229 | ||||||
Technogym SpA (e) | 40,013 | 472,416 | ||||||
Vittoria Assicurazioni SpA | 8,282 | 123,450 | ||||||
|
| |||||||
11,460,844 | ||||||||
|
| |||||||
JAPAN — 36.6% |
| |||||||
3-D Matrix, Ltd. (b) (c) | 17,300 | 131,275 | ||||||
77 Bank, Ltd. | 38,000 | 901,495 | ||||||
Access Co., Ltd. (b) (c) | 15,500 | 153,032 | ||||||
Achilles Corp. | 3,100 | 63,662 | ||||||
Adastria Co., Ltd. (b) | 24,200 | 493,785 | ||||||
ADEKA Corp. | 45,800 | 808,767 | ||||||
Advanced Media, Inc. (b) (c) | 16,600 | 312,957 | ||||||
Adways, Inc. (b) | 10,500 | 50,254 | ||||||
Aeon Delight Co., Ltd. | 13,800 | 495,684 | ||||||
AEON REIT Investment Corp. | 504 | 531,724 | ||||||
Ahresty Corp. | 8,100 | 71,289 | ||||||
Ai Holdings Corp. | 22,600 | 623,492 | ||||||
Aichi Steel Corp. | 3,200 | 130,588 | ||||||
Aida Engineering, Ltd. | 32,600 | 393,284 | ||||||
Aiful Corp. (b) (c) | 132,376 | 436,897 | ||||||
Akatsuki, Inc. (b) (c) | 2,300 | 111,378 | ||||||
Akebono Brake Industry Co., Ltd. (b) (c) | 77,300 | 201,336 | ||||||
Alconix Corp. | 15,400 | 300,325 | ||||||
Alpine Electronics, Inc. (b) | 23,700 | 442,355 | ||||||
Altech Corp. | 15,300 | 350,742 | ||||||
Amano Corp. | 32,600 | 863,203 | ||||||
Amiyaki Tei Co., Ltd. | 1,700 | 90,635 | ||||||
AnGes, Inc. (b) (c) | 51,800 | 250,354 | ||||||
Anicom Holdings, Inc. (b) | 10,800 | 444,288 | ||||||
Anritsu Corp. | 70,300 | 846,112 | ||||||
AOKI Holdings, Inc. | 9,800 | 148,636 | ||||||
Aomori Bank, Ltd. (b) | 7,600 | 232,252 | ||||||
Aoyama Trading Co., Ltd. | 23,400 | 915,317 | ||||||
Arakawa Chemical Industries, Ltd. | 11,100 | 194,759 | ||||||
Arata Corp. | 7,300 | 407,729 | ||||||
Arcland Sakamoto Co., Ltd. | 14,800 | 236,995 |
Security Description | Shares | Value | ||||||
Arcs Co., Ltd. | 27,200 | $ | 658,069 | |||||
Argo Graphics, Inc. | 8,200 | 269,478 | ||||||
Arisawa Manufacturing Co., Ltd. (b) (c) | 15,100 | 138,434 | ||||||
Artnature, Inc. | 2,300 | 15,355 | ||||||
As One Corp. | 3,800 | 241,899 | ||||||
Asahi Diamond Industrial Co., Ltd. | 31,400 | 325,367 | ||||||
Asahi Holdings, Inc. | 47,873 | 881,385 | ||||||
Asia Pile Holdings Corp. | 6,600 | 39,718 | ||||||
ASKA Pharmaceutical Co., Ltd. | 11,000 | 172,214 | ||||||
ASKUL Corp. (b) | 11,800 | 392,779 | ||||||
Ateam, Inc. | 6,400 | 149,123 | ||||||
Atom Corp. (b) | 16,400 | 147,268 | ||||||
Aucnet, Inc. (b) | 21,800 | 302,351 | ||||||
Autobacs Seven Co., Ltd. | 46,900 | 871,409 | ||||||
Avex, Inc. (b) | 20,400 | 286,578 | ||||||
Awa Bank, Ltd. | 254,000 | 1,647,955 | ||||||
Axial Retailing, Inc. | 6,900 | 262,764 | ||||||
Bando Chemical Industries, Ltd. | 32,700 | 371,738 | ||||||
Bank of Iwate, Ltd. | 1,800 | 72,271 | ||||||
Bank of Nagoya, Ltd. (b) | 21,460 | 806,137 | ||||||
Bank of Okinawa, Ltd. | 30,800 | 1,309,036 | ||||||
Bank of the Ryukyus, Ltd. | 92,020 | 1,407,772 | ||||||
Belc Co., Ltd. | 6,300 | 363,724 | ||||||
Belluna Co., Ltd. | 27,300 | 317,794 | ||||||
Benefit One, Inc. | 16,900 | 462,903 | ||||||
BML, Inc. | 16,700 | 431,201 | ||||||
Broadleaf Co., Ltd. | 60,000 | 291,678 | ||||||
Bunka Shutter Co., Ltd. | 45,000 | 436,671 | ||||||
Can Do Co., Ltd. (b) | 25,000 | 421,251 | ||||||
Capcom Co., Ltd. | 52,800 | 1,202,956 | ||||||
Central Glass Co., Ltd. | 53,769 | 1,228,572 | ||||||
Chiome Bioscience, Inc. (b) (c) | 23,700 | 76,883 | ||||||
Chiyoda Co., Ltd. | 21,300 | 528,344 | ||||||
Chiyoda Corp. (b) | 111,100 | 1,021,681 | ||||||
Chiyoda Integre Co., Ltd. | 5,600 | 132,009 | ||||||
Chofu Seisakusho Co., Ltd. | 14,100 | 340,336 | ||||||
Chubu Shiryo Co., Ltd. | 15,300 | 305,281 | ||||||
Chudenko Corp. | 4,600 | 123,056 | ||||||
Chugoku Marine Paints, Ltd. | 36,400 | 358,695 | ||||||
Ci:z Holdings Co., Ltd. | 23,300 | 1,154,593 | ||||||
CKD Corp. (b) | 26,500 | 565,632 | ||||||
Clarion Co., Ltd. | 59,000 | 178,637 | ||||||
CMK Corp. (b) | 36,900 | 282,432 | ||||||
cocokara fine, Inc. | 16,100 | 1,111,180 | ||||||
COLOPL, Inc. (b) | 40,100 | 354,433 | ||||||
Colowide Co., Ltd. (b) | 31,000 | 711,528 | ||||||
Comforia Residential REIT, Inc. (b) | 308 | 719,101 | ||||||
COOKPAD, Inc. (b) | 22,766 | 126,299 | ||||||
Cosmo Energy Holdings Co., Ltd. | 36,300 | 1,151,975 | ||||||
Create Restaurants Holdings, Inc. (b) | 17,000 | 201,730 | ||||||
Create SD Holdings Co., Ltd. | 13,800 | 357,879 | ||||||
CYBERDYNE, Inc. (b) (c) | 39,700 | 560,690 |
125
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
D.Western Therapeutics Institute, Inc. (b) (c) | 21,300 | $ | 122,172 | |||||
DA Consortium Holdings, Inc. (c) | 15,500 | 357,076 | ||||||
Dai Nippon Toryo Co., Ltd. | 15,300 | 224,573 | ||||||
Daibiru Corp. | 25,800 | 297,907 | ||||||
Dai-Dan Co., Ltd. | 15,400 | 339,133 | ||||||
Daido Metal Co., Ltd. | 29,300 | 335,841 | ||||||
Daihen Corp. (b) | 48,000 | 360,169 | ||||||
Daiho Corp. | 82,000 | 461,081 | ||||||
Daiken Corp. | 9,900 | 233,932 | ||||||
Daikyonishikawa Corp. | 20,600 | 332,002 | ||||||
Dainichiseika Color & Chemicals Manufacturing Co., Ltd. | 8,800 | 361,185 | ||||||
Daio Paper Corp. (b) | 52,400 | 732,664 | ||||||
Daiseki Co., Ltd. | 15,200 | 417,911 | ||||||
Daishi Bank, Ltd. | 19,200 | 851,227 | ||||||
Daishinku Corp. | 1,800 | 22,714 | ||||||
Daito Bank, Ltd. | 4,100 | 48,306 | ||||||
Daito Pharmaceutical Co., Ltd. | 8,600 | 308,096 | ||||||
Daiwabo Holdings Co., Ltd. | 10,600 | 453,503 | ||||||
DCM Holdings Co., Ltd. (b) | 81,493 | 824,508 | ||||||
Denyo Co., Ltd. | 3,800 | 67,532 | ||||||
Descente, Ltd. | 15,500 | 245,143 | ||||||
Dexerials Corp. | 34,100 | 348,214 | ||||||
Digital Arts, Inc. (b) | 8,300 | 312,177 | ||||||
Digital Garage, Inc. | 19,300 | 629,723 | ||||||
Dip Corp. | 17,600 | 549,431 | ||||||
Doshisha Co., Ltd. | 14,400 | 327,673 | ||||||
Doutor Nichires Holdings Co., Ltd. | 69,672 | 1,644,351 | ||||||
DTS Corp. | 34,962 | 1,206,493 | ||||||
Duskin Co., Ltd. | 24,100 | 596,891 | ||||||
DyDo Group Holdings, Inc. | 4,100 | 257,527 | ||||||
Dynam Japan Holdings Co., Ltd. | 6,400 | 8,595 | ||||||
Eagle Industry Co., Ltd. (b) | 15,700 | 269,269 | ||||||
Earth Corp. | 10,600 | 554,170 | ||||||
EDION Corp. | 110,000 | 1,261,871 | ||||||
Ehime Bank, Ltd. | 101,140 | 1,203,029 | ||||||
Eighteenth Bank, Ltd. | 323,730 | 834,058 | ||||||
Eiken Chemical Co., Ltd. | 20,600 | 515,048 | ||||||
Eizo Corp. | 11,500 | 522,826 | ||||||
Elecom Co., Ltd. | 8,600 | 204,023 | ||||||
en-japan, Inc. | 15,400 | 860,141 | ||||||
Enplas Corp. | 5,300 | 171,683 | ||||||
EPS Holdings, Inc. | 21,300 | 431,207 | ||||||
eRex Co., Ltd. (b) | 27,900 | 208,561 | ||||||
ESPEC Corp. | 17,700 | 408,922 | ||||||
euglena Co., Ltd. (b) (c) | 3,900 | 37,845 | ||||||
Exedy Corp. | 18,900 | 591,791 | ||||||
F@N Communications, Inc. | 2,300 | 15,247 | ||||||
Fancl Corp. | 40,100 | 1,461,095 | ||||||
FCC Co., Ltd. | 49,128 | 1,368,285 | ||||||
Feed One Co., Ltd. | 53,400 | 107,453 | ||||||
Ferrotec Holdings Corp. | 10,400 | 255,331 | ||||||
Fields Corp. | 3,500 | 38,143 |
Security Description | Shares | Value | ||||||
Financial Products Group Co., Ltd. | 29,400 | $ | 379,007 | |||||
Foster Electric Co., Ltd. | 16,200 | 393,157 | ||||||
Fudo Tetra Corp. | 94,400 | 166,875 | ||||||
Fuji Co., Ltd./Ehime | 11,900 | 254,896 | ||||||
Fuji Kyuko Co., Ltd. (b) | 13,500 | 350,480 | ||||||
Fuji Machine Manufacturing Co., Ltd. | 44,800 | 873,674 | ||||||
Fuji Pharma Co., Ltd. | 3,500 | 159,614 | ||||||
Fuji Seal International, Inc. (b) | 20,600 | 812,572 | ||||||
Fuji Soft, Inc. | 19,700 | 777,997 | ||||||
Fujibo Holdings, Inc. | 7,200 | 258,279 | ||||||
Fujicco Co., Ltd. | 10,000 | 225,200 | ||||||
Fujimi, Inc. | 11,200 | 238,954 | ||||||
Fujimori Kogyo Co., Ltd. | 7,500 | 264,457 | ||||||
Fujita Kanko, Inc. (b) | 4,399 | 131,949 | ||||||
Fujitec Co., Ltd. | 41,800 | 551,831 | ||||||
Fujiya Co., Ltd. | 6,800 | 162,599 | ||||||
Fukuda Corp. | 4,000 | 246,732 | ||||||
Fukui Bank, Ltd. | 12,900 | 283,473 | ||||||
Fukuoka REIT Corp. | 882 | 1,377,529 | ||||||
Fukushima Industries Corp. | 8,400 | 362,539 | ||||||
Fukuyama Transporting Co., Ltd. | 19,400 | 840,940 | ||||||
FULLCAST Holdings Co., Ltd. | 15,000 | 364,175 | ||||||
Funai Soken Holdings, Inc. | 22,800 | 478,939 | ||||||
Furukawa Co., Ltd. | 17,838 | 328,414 | ||||||
Fuso Chemical Co., Ltd. | 14,200 | 361,709 | ||||||
Futaba Corp. | 14,900 | 304,725 | ||||||
Futaba Industrial Co., Ltd. | 32,400 | 270,838 | ||||||
Fuyo General Lease Co., Ltd. | 9,600 | 647,221 | ||||||
Genky DrugStores Co., Ltd. (c) | 5,100 | 178,632 | ||||||
Geo Holdings Corp. (b) | 21,700 | 341,976 | ||||||
Giken, Ltd. | 8,900 | 249,635 | ||||||
Global One Real Estate Investment Corp. REIT (b) | 348 | 336,056 | ||||||
GLOBERIDE, Inc. | 6,800 | 164,006 | ||||||
GMO internet, Inc. (b) | 33,000 | 696,615 | ||||||
GNI Group, Ltd. (b) (c) | 51,000 | 246,968 | ||||||
Goldwin, Inc. (b) | 8,000 | 476,164 | ||||||
Gree, Inc. | 50,200 | 286,992 | ||||||
GS Yuasa Corp. | 214,000 | 1,148,980 | ||||||
G-Tekt Corp. | 16,900 | 324,175 | ||||||
Gumi, Inc. (b) (c) | 23,900 | 233,944 | ||||||
Gunosy, Inc. (b) (c) | 8,653 | 225,051 | ||||||
Gunze, Ltd. (b) | 9,200 | 520,771 | ||||||
Gurunavi, Inc. (b) | 8,900 | 122,684 | ||||||
Hankyu Reit, Inc. | 119 | 149,827 | ||||||
Hanwa Co., Ltd. | 17,600 | 720,715 | ||||||
Happinet Corp. | 3,700 | 53,021 | ||||||
Hazama Ando Corp. (b) | 103,200 | 776,305 | ||||||
Hearts United Group Co., Ltd. (b) | 6,200 | 100,039 | ||||||
Heiwa Real Estate Co., Ltd. | 17,600 | 336,113 | ||||||
Heiwa Real Estate REIT, Inc. | 426 | 409,777 | ||||||
Heiwado Co., Ltd. | 21,300 | 513,724 | ||||||
Hibiya Engineering, Ltd. | 7,500 | 138,293 | ||||||
Hiday Hidaka Corp. | 11,640 | 289,167 |
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SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Hiramatsu, Inc. (b) | 18,100 | $ | 86,458 | |||||
Hirata Corp. (b) | 3,400 | 304,034 | ||||||
Hitachi Zosen Corp. (b) | 173,200 | 889,207 | ||||||
Hito Communications, Inc. (b) | 15,600 | 263,007 | ||||||
Hodogaya Chemical Co., Ltd. | 4,000 | 175,458 | ||||||
Hogy Medical Co., Ltd. | 10,800 | 432,102 | ||||||
Hokkaido Electric Power Co., Inc. (b) | 114,500 | 755,797 | ||||||
Hokkaido Gas Co., Ltd. | 12,000 | 34,189 | ||||||
Hokkoku Bank, Ltd. | 16,300 | 641,425 | ||||||
Hokuetsu Bank, Ltd. | 41,300 | 910,270 | ||||||
Hokuetsu Kishu Paper Co., Ltd. (b) | 53,100 | 340,020 | ||||||
Hokuhoku Financial Group, Inc. | 48,800 | 663,974 | ||||||
Hokuriku Electric Industry Co., Ltd. | 9,400 | 131,874 | ||||||
Hokuto Corp. | 8,200 | 156,906 | ||||||
Hoshino Resorts REIT, Inc. | 69 | 362,680 | ||||||
Hosiden Corp. (b) | 56,300 | 694,552 | ||||||
Hosokawa Micron Corp. (b) | 4,800 | 326,319 | ||||||
Hulic Reit, Inc. | 338 | 514,866 | ||||||
Hyakugo Bank, Ltd. | 119,600 | 567,917 | ||||||
Hyakujushi Bank, Ltd. | 178,000 | 600,865 | ||||||
IBJ Leasing Co., Ltd. | 15,000 | 420,451 | ||||||
Ichibanya Co., Ltd. | 5,600 | 229,318 | ||||||
Ichigo Hotel REIT Investment Corp. | 250 | 291,255 | ||||||
Ichigo Office REIT Investment | 596 | 452,814 | ||||||
Ichigo, Inc. | 124,200 | 543,047 | ||||||
Idec Corp. (b) | 16,000 | 382,586 | ||||||
IDOM, Inc. | 34,100 | 238,556 | ||||||
Iino Kaiun Kaisha, Ltd. | 101,280 | 474,259 | ||||||
Inaba Denki Sangyo Co., Ltd. | 3,000 | 131,312 | ||||||
Inabata & Co., Ltd. | 3,400 | 50,640 | ||||||
Industrial & Infrastructure Fund Investment Corp. REIT | 686 | 768,888 | ||||||
Infomart Corp. | 48,600 | 487,599 | ||||||
Intage Holdings, Inc. | 8,000 | 87,184 | ||||||
Internet Initiative Japan, Inc. (b) | 16,500 | 336,671 | ||||||
Invesco Office J-Reit, Inc. | 2,532 | 356,408 | ||||||
Invincible Investment Corp. REIT | 1,850 | 850,635 | ||||||
Iriso Electronics Co., Ltd. (b) | 10,300 | 620,809 | ||||||
Iseki & Co., Ltd. | 5,600 | 110,736 | ||||||
Ishihara Sangyo Kaisha, Ltd. (c) | 8,400 | 100,310 | ||||||
Istyle, Inc. (b) | 40,800 | 570,855 | ||||||
Itfor, Inc. (b) | 42,400 | 371,972 | ||||||
Itochu Enex Co., Ltd. | 29,900 | 280,304 | ||||||
Itoki Corp. | 30,600 | 195,656 | ||||||
Iwasaki Electric Co., Ltd. | 2,700 | 41,382 | ||||||
Iwatani Corp. | 53,000 | 1,941,091 | ||||||
J Trust Co., Ltd. (b) | 16,300 | 105,755 | ||||||
Jaccs Co., Ltd. | 15,000 | 329,901 | ||||||
Japan Asset Marketing Co., Ltd. (b) (c) | 40,900 | 47,688 | ||||||
Japan Aviation Electronics Industry, Ltd. (b) | 35,000 | 489,046 | ||||||
Japan Cash Machine Co., Ltd. | 3,200 | 34,452 |
Security Description | Shares | Value | ||||||
Japan Communications, Inc. (b) (c) | 2,600 | $ | 2,836 | |||||
Japan Display, Inc. (b) (c) | 155,910 | 287,338 | ||||||
Japan Excellent, Inc. | 753 | 973,554 | ||||||
Japan Logistics Fund, Inc. REIT | 661 | 1,335,052 | ||||||
Japan Material Co., Ltd. | 49,100 | 608,498 | ||||||
Japan Petroleum Exploration Co., Ltd. (b) | 17,900 | 400,751 | ||||||
Japan Pulp & Paper Co., Ltd. | 7,900 | 323,874 | ||||||
Japan Rental Housing Investments, Inc. | 603 | 464,937 | ||||||
Japan Securities Finance Co., Ltd. | 27,800 | 170,172 | ||||||
Japan Steel Works, Ltd. | 32,400 | 1,048,011 | ||||||
Japan Tissue Engineering Co., Ltd. (c) | 7,600 | 131,205 | ||||||
Japan Wool Textile Co., Ltd. | 23,900 | 231,696 | ||||||
JCR Pharmaceuticals Co., Ltd. | 10,500 | 568,688 | ||||||
JCU Corp. | 14,000 | 327,127 | ||||||
Jeol, Ltd. | 41,000 | 373,954 | ||||||
JIG-SAW, Inc. (c) | 2,800 | 100,837 | ||||||
JINS, Inc. (b) | 6,600 | 361,805 | ||||||
Joshin Denki Co., Ltd. | 13,500 | 504,584 | ||||||
Joyful Honda Co., Ltd. | 24,400 | 867,250 | ||||||
JSP Corp. | 8,100 | 246,008 | ||||||
Juki Corp. | 34,900 | 483,382 | ||||||
Juroku Bank, Ltd. | 19,400 | 518,610 | ||||||
Justsystems Corp. | 17,800 | 428,137 | ||||||
JVC Kenwood Corp. | 83,700 | 273,097 | ||||||
Kadokawa Dwango (b) (c) | 2,700 | 27,724 | ||||||
Kaga Electronics Co., Ltd. | 6,400 | 162,663 | ||||||
Kameda Seika Co., Ltd. | 8,400 | 405,980 | ||||||
Kanamoto Co., Ltd. | 19,600 | 652,412 | ||||||
Kanematsu Corp. | 118,299 | 1,576,208 | ||||||
Kansai Super Market, Ltd. | 5,500 | 57,819 | ||||||
Kanto Denka Kogyo Co., Ltd. (b) | 24,000 | 243,047 | ||||||
Kasai Kogyo Co., Ltd. | 8,000 | 102,379 | ||||||
Katakura Industries Co., Ltd. | 70,174 | 913,879 | ||||||
Kato Sangyo Co., Ltd. | 17,300 | 602,694 | ||||||
KAWADA TECHNOLOGIES, Inc. (b) | 1,300 | 69,676 | ||||||
Keihin Corp. | 15,500 | 315,247 | ||||||
Keiyo Bank, Ltd. | 167,000 | 745,886 | ||||||
Keiyo Co., Ltd. (b) | 33,300 | 173,467 | ||||||
Kenedix Residential Next Investment Corp. | 282 | 402,781 | ||||||
Kenedix Retail REIT Corp. | 270 | 587,729 | ||||||
Kenedix, Inc. | 112,400 | 692,261 | ||||||
Kenko Mayonnaise Co., Ltd. (b) | 14,400 | 480,677 | ||||||
Key Coffee, Inc. (b) | 6,100 | 120,795 | ||||||
KH Neochem Co., Ltd. | 18,700 | 538,054 | ||||||
Kintetsu World Express, Inc. | 16,800 | 308,829 | ||||||
Kisoji Co., Ltd. | 10,300 | 266,919 | ||||||
Kissei Pharmaceutical Co., Ltd. | 24,500 | 660,244 | ||||||
Kito Corp. | 17,700 | 324,542 | ||||||
Kitz Corp. | 152,900 | 1,301,124 | ||||||
Kiyo Bank, Ltd. | 94,360 | 1,506,566 | ||||||
KLab, Inc. (b) | 18,200 | 292,295 |
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SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Koa Corp. | 20,200 | $ | 411,787 | |||||
Kobe Bussan Co., Ltd. | 5,700 | 256,460 | ||||||
Kohnan Shoji Co., Ltd. | 15,800 | 378,843 | ||||||
Kokuyo Co., Ltd. | 59,117 | 1,139,538 | ||||||
KOMEDA Holdings Co., Ltd. | 23,300 | 437,738 | ||||||
Komeri Co., Ltd. | 10,300 | 276,410 | ||||||
Komori Corp. (b) | 80,136 | 1,003,678 | ||||||
Konishi Co., Ltd. | 16,100 | 256,449 | ||||||
Konoike Transport Co., Ltd. | 15,600 | 265,794 | ||||||
Kotobuki Spirits Co., Ltd. (b) | 22,900 | 1,192,910 | ||||||
Kourakuen Holdings Corp. | 8,000 | 140,893 | ||||||
Kumagai Gumi Co., Ltd. (b) | 18,200 | 567,306 | ||||||
Kumiai Chemical Industry Co., Ltd. | 53,700 | 316,090 | ||||||
Kura Corp. (b) | 5,700 | 391,255 | ||||||
Kurabo Industries, Ltd. | 362,700 | 1,122,034 | ||||||
Kureha Corp. | 8,200 | 532,017 | ||||||
Kusuri no Aoki Holdings Co., Ltd. | 9,800 | 706,779 | ||||||
KYB Corp. | 24,683 | 1,143,054 | ||||||
Kyoei Steel, Ltd. (b) | 4,000 | 67,551 | ||||||
Kyokuto Kaihatsu Kogyo Co., Ltd. | 18,500 | 271,020 | ||||||
Kyokuyo Co., Ltd. (b) | 2,200 | 79,022 | ||||||
KYORIN Holdings, Inc. | 33,000 | 620,282 | ||||||
Kyoritsu Maintenance Co., Ltd. (b) | 14,400 | 678,364 | ||||||
Kyosan Electric Manufacturing Co., Ltd. | 12,000 | 72,553 | ||||||
Kyoto Kimono Yuzen Co., Ltd. (b) | 20,700 | 150,652 | ||||||
LAC Co., Ltd. | 6,900 | 91,416 | ||||||
LaSalle Logiport REIT | 379 | 403,055 | ||||||
Lasertec Corp. | 23,900 | 851,725 | ||||||
LEC, Inc. (b) | 8,200 | 297,236 | ||||||
Leopalace21 Corp. | 139,800 | 1,138,381 | ||||||
Life Corp. | 16,100 | 448,105 | ||||||
LIFULL Co., Ltd. | 33,600 | 294,138 | ||||||
Lintec Corp. | 15,400 | 438,035 | ||||||
LIXIL VIVA Corp. | 11,200 | 219,787 | ||||||
M&A Capital Partners Co., Ltd. (c) | 4,200 | 351,086 | ||||||
Macnica Fuji Electronics Holdings, Inc. | 18,400 | 324,920 | ||||||
Macromill, Inc. (b) | 10,800 | 330,550 | ||||||
Maeda Road Construction Co., Ltd. | 30,000 | 595,487 | ||||||
Makino Milling Machine Co., Ltd. | 158,000 | 1,466,347 | ||||||
Mandom Corp. | 18,500 | 639,281 | ||||||
Mani, Inc. | 10,900 | 423,803 | ||||||
Marudai Food Co., Ltd. | 324,656 | 1,544,673 | ||||||
Maruha Nichiro Corp. (b) | 37,220 | 1,174,171 | ||||||
Marusan Securities Co., Ltd. (b) | 67,338 | 640,138 | ||||||
Maruwa Co., Ltd. | 1,900 | 147,033 | ||||||
Marvelous, Inc. (b) | 21,900 | 187,391 | ||||||
Matsui Construction Co., Ltd. | 36,400 | 269,363 | ||||||
Matsuya Co., Ltd. | 30,600 | 425,839 | ||||||
Max Co., Ltd. | 21,900 | 279,233 |
Security Description | Shares | Value | ||||||
Maxell Holdings, Ltd. | 27,900 | $ | 528,093 | |||||
MCJ Co., Ltd. | 21,800 | 280,213 | ||||||
MCUBS MidCity Investment Corp. | 535 | 390,371 | ||||||
Mebuki Financial Group, Inc. | 1,500 | 5,755 | ||||||
Medinet Co., Ltd. (c) | 88,700 | 108,425 | ||||||
Megachips Corp. (b) (c) | 11,100 | 383,047 | ||||||
Meidensha Corp. | 153,000 | 581,213 | ||||||
Meiko Electronics Co., Ltd. (b) | 14,267 | 234,631 | ||||||
Meitec Corp. | 15,200 | 821,815 | ||||||
Melco Holdings, Inc. (b) | 4,000 | 132,205 | ||||||
Menicon Co., Ltd. | 19,100 | 480,957 | ||||||
Michinoku Bank, Ltd. (b) | 39,920 | 656,137 | ||||||
Micronics Japan Co., Ltd. (b) | 2,300 | 23,768 | ||||||
Milbon Co., Ltd. | 16,100 | 712,276 | ||||||
Mirai Corp. REIT | 162 | 284,700 | ||||||
Mirait Holdings Corp. (b) | 47,260 | 750,116 | ||||||
Miroku Jyoho Service Co., Ltd. | 15,300 | 440,226 | ||||||
Mitsuba Corp. | 20,800 | 264,229 | ||||||
Mitsubishi Logisnext Co., Ltd. | 10,900 | 90,090 | ||||||
Mitsubishi Pencil Co., Ltd. | 28,900 | 648,382 | ||||||
Mitsubishi Shokuhin Co., Ltd. | 8,000 | 228,679 | ||||||
Mitsuboshi Belting, Ltd. | 30,000 | 331,735 | ||||||
Mitsui Engineering & Shipbuilding Co., Ltd. (b) | 31,100 | 504,150 | ||||||
Mitsui Fudosan Logistics Park, Inc. REIT | 65 | 214,833 | ||||||
Mitsui High-Tec, Inc. (b) | 13,900 | 201,279 | ||||||
Mitsui Sugar Co., Ltd. | 34,100 | 1,301,796 | ||||||
Mitsui-Soko Holdings Co., Ltd. (c) | 224,000 | 709,807 | ||||||
Miyaji Engineering Group, Inc. (b) | 2,600 | 49,115 | ||||||
Miyazaki Bank, Ltd. | 29,480 | 921,683 | ||||||
Mizuno Corp. | 7,800 | 233,597 | ||||||
Mochida Pharmaceutical Co., Ltd. (b) | 9,100 | 643,460 | ||||||
Modec, Inc. | 9,000 | 220,282 | ||||||
Monex Group, Inc. (b) | 102,400 | 327,372 | ||||||
Monogatari Corp. | 1,400 | 140,329 | ||||||
Mori Trust Hotel Reit, Inc. | 187 | 249,861 | ||||||
Morinaga Milk Industry Co., Ltd. | 19,400 | 784,391 | ||||||
Morita Holdings Corp. | 23,500 | 443,926 | ||||||
MOS Food Services, Inc. (b) | 11,800 | 349,506 | ||||||
Musashi Seimitsu Industry Co., Ltd. | 15,500 | 522,496 | ||||||
Musashino Bank, Ltd. | 35,580 | 1,130,798 | ||||||
Nachi-Fujikoshi Corp. | 144,000 | 859,803 | ||||||
Nagaileben Co., Ltd. | 11,900 | 328,075 | ||||||
Nakanishi, Inc. | 80,040 | 1,607,573 | ||||||
Namura Shipbuilding Co., Ltd. (b) | 6,300 | 35,010 | ||||||
NanoCarrier Co., Ltd. (b) (c) | 9,800 | 66,623 | ||||||
Nanto Bank, Ltd. | 15,400 | 417,907 | ||||||
NEC Networks & System Integration Corp. | 15,600 | 401,478 | ||||||
NET One Systems Co., Ltd. | 87,200 | 1,265,978 | ||||||
Neturen Co., Ltd. | 117,583 | 1,196,284 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Nichias Corp. | 76,000 | $ | 954,020 | |||||
Nichiban Co., Ltd. | 10,000 | 321,580 | ||||||
Nichicon Corp. (b) | 43,300 | 486,540 | ||||||
Nichiha Corp. (b) | 18,600 | 696,079 | ||||||
NichiiGakkan Co., Ltd. | 63,700 | 715,165 | ||||||
Nichi-iko Pharmaceutical Co., Ltd. | 25,300 | 391,335 | ||||||
Nichireki Co., Ltd. | 11,000 | 123,912 | ||||||
Nihon Dempa Kogyo Co., Ltd. | 2,300 | 14,187 | ||||||
Nihon Kagaku Sangyo Co., Ltd. (b) | 3,348 | 39,635 | ||||||
Nihon Nohyaku Co., Ltd. | 2,300 | 13,473 | ||||||
Nihon Parkerizing Co., Ltd. | 60,000 | 973,766 | ||||||
Nihon Tokushu Toryo Co., Ltd. | 15,300 | 293,772 | ||||||
Nihon Trim Co., Ltd. | 1,500 | 77,010 | ||||||
Nihon Unisys, Ltd. | 33,300 | 712,028 | ||||||
Nikkiso Co., Ltd. | 70,340 | 726,880 | ||||||
Nikkon Holdings Co., Ltd. (b) | 138,480 | 3,614,673 | ||||||
Nippon Beet Sugar Manufacturing Co., Ltd. | 3,300 | 73,571 | ||||||
Nippon Carbon Co., Ltd. | 19,171 | 926,553 | ||||||
Nippon Chemi-Con Corp. | 6,900 | 160,384 | ||||||
Nippon Coke & Engineering Co., Ltd. | 95,000 | 95,581 | ||||||
Nippon Concrete Industries Co., Ltd. | 34,100 | 139,478 | ||||||
Nippon Denko Co., Ltd. (b) | 67,700 | 206,251 | ||||||
Nippon Densetsu Kogyo Co., Ltd. | 25,900 | 505,093 | ||||||
Nippon Flour Mills Co., Ltd. | 30,800 | 479,304 | ||||||
Nippon Gas Co., Ltd. | 33,400 | 1,579,709 | ||||||
Nippon Koei Co., Ltd. | 9,800 | 298,561 | ||||||
Nippon Light Metal Holdings Co., Ltd. | 261,500 | 673,728 | ||||||
Nippon Parking Development Co., Ltd. | 47,500 | 78,162 | ||||||
Nippon Pillar Packing Co., Ltd. | 16,500 | 244,048 | ||||||
NIPPON REIT Investment Corp. | 605 | 1,820,404 | ||||||
Nippon Road Co., Ltd. | 4,700 | 230,691 | ||||||
Nippon Seiki Co., Ltd. | 55,000 | 1,000,188 | ||||||
Nippon Sheet Glass Co., Ltd. (b) (c) | 46,800 | 369,647 | ||||||
Nippon Signal Co., Ltd. | 34,300 | 317,682 | ||||||
Nippon Soda Co., Ltd. | 64,000 | 358,665 | ||||||
Nippon Steel & Sumikin Bussan Corp. | 3,600 | 197,010 | ||||||
Nippon Suisan Kaisha, Ltd. | 170,999 | 882,731 | ||||||
Nippon Thompson Co., Ltd. | 135,900 | 1,088,733 | ||||||
Nippon Valqua Industries, Ltd. | 10,476 | 285,369 | ||||||
Nippon Yakin Kogyo Co., Ltd. | 84,500 | 228,035 | ||||||
Nishimatsu Construction Co., Ltd. (b) | 28,600 | 704,579 | ||||||
Nishimatsuya Chain Co., Ltd. | 25,953 | 292,353 | ||||||
Nishi-Nippon Financial Holdings, Inc. | 55,000 | 642,313 | ||||||
Nishi-Nippon Railroad Co., Ltd. | 33,400 | 865,542 | ||||||
Nishio Rent All Co., Ltd. | 7,000 | 215,891 | ||||||
Nissan Shatai Co., Ltd. | 23,900 | 246,978 |
Security Description | Shares | Value | ||||||
Nissei ASB Machine Co., Ltd. (b) | 4,700 | $ | 319,962 | |||||
Nissei Build Kogyo Co., Ltd. | 28,800 | 343,650 | ||||||
Nissha Co., Ltd. (b) | 26,100 | 683,729 | ||||||
Nisshin Oillio Group, Ltd. | 13,600 | 376,606 | ||||||
Nisshin Steel Co., Ltd. | 13,900 | 161,546 | ||||||
Nisshinbo Holdings, Inc. | 78,600 | 1,047,261 | ||||||
Nissin Corp. | 10,800 | 281,907 | ||||||
Nissin Electric Co., Ltd. | 24,700 | 229,000 | ||||||
Nissin Kogyo Co., Ltd. (b) | 15,600 | 267,408 | ||||||
Nitta Corp. | 9,900 | 367,236 | ||||||
Nittetsu Mining Co., Ltd. | 3,200 | 176,624 | ||||||
Nitto Boseki Co., Ltd. | 30,630 | 647,737 | ||||||
Nitto Kogyo Corp. | 8,500 | 130,757 | ||||||
Nittoku Engineering Co., Ltd. (b) | 9,400 | 345,153 | ||||||
Nohmi Bosai, Ltd. | 19,100 | 409,119 | ||||||
Nojima Corp. | 14,800 | 353,614 | ||||||
Nomura Co., Ltd. | 23,300 | 494,262 | ||||||
Noritake Co., Ltd. | 6,900 | 291,636 | ||||||
Noritsu Koki Co., Ltd. (b) | 9,800 | 220,419 | ||||||
Noritz Corp. | 16,600 | 299,221 | ||||||
North Pacific Bank, Ltd. | 162,400 | 542,097 | ||||||
NS United Kaiun Kaisha, Ltd. (b) | 1,900 | 37,607 | ||||||
NSD Co., Ltd. | 21,800 | 440,100 | ||||||
NuFlare Technology, Inc. | 1,800 | 113,061 | ||||||
Obara Group, Inc. | 3,500 | 203,385 | ||||||
Oenon Holdings, Inc. | 101,800 | 451,806 | ||||||
Ogaki Kyoritsu Bank, Ltd. | 9,500 | 240,649 | ||||||
Ohsho Food Service Corp. | 6,800 | 331,208 | ||||||
Oiles Corp. | 10,900 | 230,197 | ||||||
Oita Bank, Ltd. | 26,580 | 984,722 | ||||||
Okabe Co., Ltd. | 20,100 | 185,030 | ||||||
Okamoto Industries, Inc. (b) | 31,800 | 318,150 | ||||||
Okamura Corp. | 62,100 | 840,262 | ||||||
Okasan Securities Group, Inc. (b) | 88,682 | 523,670 | ||||||
Oki Electric Industry Co., Ltd. (b) | 51,900 | 679,312 | ||||||
Okinawa Electric Power Co., Inc. | 20,890 | 586,727 | ||||||
OKUMA Corp. | 13,600 | 782,623 | ||||||
Okumura Corp. | 16,800 | 651,622 | ||||||
Okura Industrial Co., Ltd. | 33,950 | 183,237 | ||||||
Okuwa Co., Ltd. | 18,000 | 187,532 | ||||||
OncoTherapy Science, Inc. (b) (c) | 53,700 | 109,066 | ||||||
One REIT, Inc. | 96 | 217,817 | ||||||
Onward Holdings Co., Ltd. | 69,300 | 598,841 | ||||||
Open House Co., Ltd. | 15,800 | 961,222 | ||||||
Optex Group Co., Ltd. | 19,200 | 482,212 | ||||||
Osaka Soda Co., Ltd. (b) | 11,200 | 292,769 | ||||||
OSAKA Titanium Technologies Co., Ltd. | 8,500 | 159,850 | ||||||
Osaki Electric Co., Ltd. | 16,000 | 115,994 | ||||||
OSG Corp. | 51,840 | 1,169,386 | ||||||
OSJB Holdings Corp. (b) | 102,600 | 276,880 | ||||||
Outsourcing, Inc. | 30,900 | 530,254 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Pacific Industrial Co., Ltd. (b) | 32,000 | $ | 421,251 | |||||
Pacific Metals Co., Ltd. (c) | 7,399 | 219,152 | ||||||
Pack Corp. | 4,800 | 177,828 | ||||||
PAL GROUP Holdings Co., Ltd. | 5,700 | 154,680 | ||||||
Paramount Bed Holdings Co., Ltd. | 5,600 | 282,238 | ||||||
Pasona Group, Inc. (b) | 15,300 | 326,429 | ||||||
Penta-Ocean Construction Co., Ltd. | 129,100 | 939,571 | ||||||
Pepper Food Service Co., Ltd. (b) | 7,400 | 336,427 | ||||||
Piolax, Inc. | 17,700 | 458,519 | ||||||
Pioneer Corp. (b) (c) | 126,700 | 206,103 | ||||||
Plenus Co., Ltd. (b) | 9,900 | 191,670 | ||||||
Poletowin Pitcrew Holdings, Inc. | 10,000 | 178,373 | ||||||
Premier Investment Corp. | 1,506 | 1,583,176 | ||||||
Press Kogyo Co., Ltd. | 68,900 | 407,504 | ||||||
Pressance Corp. | 18,900 | 281,501 | ||||||
Prestige International, Inc. | 29,600 | 357,093 | ||||||
Prima Meat Packers, Ltd. | 76,000 | 423,771 | ||||||
Qol Co., Ltd. | 12,000 | 234,810 | ||||||
Raito Kogyo Co., Ltd. | 17,200 | 180,006 | ||||||
Relia, Inc. | 25,300 | 306,407 | ||||||
Remixpoint Co., Ltd. (b) | 21,100 | 172,808 | ||||||
Rengo Co., Ltd. | 235,600 | 2,022,593 | ||||||
ReproCELL, Inc. (c) | 22,200 | 71,391 | ||||||
Riken Corp. (b) | 7,000 | 390,315 | ||||||
Riken Keiki Co., Ltd. (b) | 13,800 | 298,059 | ||||||
Riken Vitamin Co., Ltd. | 5,400 | 209,958 | ||||||
Ringer Hut Co., Ltd. (b) | 15,400 | 358,247 | ||||||
Riso Kagaku Corp. | 9,200 | 169,467 | ||||||
Rock Field Co., Ltd. | 10,600 | 217,781 | ||||||
Rokko Butter Co., Ltd. | 10,600 | 226,153 | ||||||
Roland DG Corp. | 4,400 | 99,047 | ||||||
Round One Corp. | 24,800 | 388,032 | ||||||
Royal Holdings Co., Ltd. | 14,300 | 384,157 | ||||||
Ryobi, Ltd. | 16,400 | 430,702 | ||||||
Ryosan Co., Ltd. (b) | 10,000 | 357,311 | ||||||
S Foods, Inc. | 5,700 | 234,485 | ||||||
Sagami Chain Co., Ltd. (b) | 23,900 | 308,104 | ||||||
Saizeriya Co., Ltd. | 16,100 | 452,344 | ||||||
Sakai Chemical Industry Co., Ltd. | 44,253 | 1,133,476 | ||||||
Sakai Moving Service Co., Ltd. | 4,200 | 216,812 | ||||||
Sakata INX Corp. | 24,700 | 364,403 | ||||||
Sakata Seed Corp. | 17,500 | 611,307 | ||||||
San-A Co., Ltd. | 10,200 | 586,008 | ||||||
San-Ai Oil Co., Ltd. | 20,400 | 298,279 | ||||||
Sanden Holdings Corp. (b) (c) | 11,200 | 155,547 | ||||||
Sangetsu Corp. | 35,000 | 718,759 | ||||||
San-In Godo Bank, Ltd. | 53,100 | 470,336 | ||||||
Sanken Electric Co., Ltd. | 68,000 | 494,255 | ||||||
Sanki Engineering Co., Ltd. | 26,600 | 296,639 | ||||||
Sankyo Tateyama, Inc. | 29,500 | 434,941 | ||||||
Sanrio Co., Ltd. (b) | 31,000 | 559,662 | ||||||
Sanyo Chemical Industries, Ltd. | 5,400 | 251,594 | ||||||
Sanyo Denki Co., Ltd. | 5,000 | 379,408 | ||||||
Sanyo Electric Railway Co., Ltd. | 7,800 | 194,138 |
Security Description | Shares | Value | ||||||
Sanyo Shokai, Ltd. (b) | 3,000 | $ | 64,457 | |||||
Sanyo Special Steel Co., Ltd. (b) | 38,387 | 960,126 | ||||||
Sato Holdings Corp. | 37,240 | 1,183,556 | ||||||
Seika Corp. | 4,400 | 108,728 | ||||||
Seikagaku Corp. (b) | 23,300 | 423,935 | ||||||
Seiko Holdings Corp. | 11,800 | 277,941 | ||||||
Seiren Co., Ltd. (b) | 69,180 | 1,264,560 | ||||||
Sekisui House Reit, Inc. (b) | 465 | 625,684 | ||||||
Sekisui House Residential Investment Corp. REIT | 589 | 646,322 | ||||||
Sekisui Plastics Co., Ltd. (b) | 23,900 | 264,282 | ||||||
Senko Group Holdings Co., Ltd. (b) | 48,800 | 378,561 | ||||||
Senshu Ikeda Holdings, Inc. | 10,560 | 40,115 | ||||||
Senshukai Co., Ltd. (c) | 19,800 | 105,749 | ||||||
Septeni Holdings Co., Ltd. | 42,100 | 144,490 | ||||||
Shibuya Corp. | 10,900 | 384,344 | ||||||
Shiga Bank, Ltd. | 155,000 | 785,567 | ||||||
Shikoku Bank, Ltd. | 24,000 | 338,505 | ||||||
Shikoku Chemicals Corp. | 24,900 | 365,013 | ||||||
Shima Seiki Manufacturing, Ltd. (b) | 26,545 | 1,837,059 | ||||||
Shimachu Co., Ltd. | 45,960 | 1,456,372 | ||||||
Shindengen Electric Manufacturing Co., Ltd. | 4,100 | 263,310 | ||||||
Shin-Etsu Polymer Co., Ltd. | 23,500 | 247,043 | ||||||
Shinkawa, Ltd. (b) (c) | 9,200 | 97,493 | ||||||
Shinko Electric Industries Co., Ltd. | 29,200 | 213,063 | ||||||
Shinko Plantech Co., Ltd. | 32,000 | 290,061 | ||||||
Shinmaywa Industries, Ltd. | 26,000 | 212,205 | ||||||
Shinsho Corp. | 4,000 | 137,283 | ||||||
Ship Healthcare Holdings, Inc. | 16,400 | 576,737 | ||||||
Shizuoka Gas Co., Ltd. | 29,100 | 261,312 | ||||||
SHO-BOND Holdings Co., Ltd. | 15,100 | 1,113,155 | ||||||
Shochiku Co., Ltd. | 20,160 | 2,832,068 | ||||||
Shoei Co., Ltd. | 5,600 | 213,785 | ||||||
Shoei Foods Corp. (b) | 7,200 | 272,496 | ||||||
Showa Corp. | 25,200 | 427,227 | ||||||
Showa Sangyo Co., Ltd. | 7,600 | 196,164 | ||||||
Siix Corp. (b) | 22,400 | 475,803 | ||||||
Sinanen Holdings Co., Ltd. | 7,600 | 186,588 | ||||||
Sinfonia Technology Co., Ltd. (b) | 226,400 | 766,375 | ||||||
Sinko Industries, Ltd. | 15,400 | 241,679 | ||||||
Sintokogio, Ltd. | 35,700 | 368,245 | ||||||
SKY Perfect JSAT Holdings, Inc. | 60,000 | 267,983 | ||||||
SMK Corp. | 115,043 | 469,475 | ||||||
SMS Co., Ltd. (b) | 23,300 | 983,705 | ||||||
Sodick Co., Ltd. (b) | 26,800 | 344,985 | ||||||
Sogo Medical Co., Ltd. | 7,800 | 217,608 | ||||||
Sosei Group Corp. (b) (c) | 10,300 | 831,942 | ||||||
St Marc Holdings Co., Ltd. | 3,000 | 87,024 | ||||||
Star Asia Investment Corp. REIT | 224 | 215,891 | ||||||
Star Micronics Co., Ltd. | 20,900 | 383,019 | ||||||
Starts Corp., Inc. | 16,400 | 444,427 |
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SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Starts Proceed Investment Corp. REIT | 163 | $ | 253,811 | |||||
Starzen Co., Ltd. | 4,800 | 235,599 | ||||||
Stella Chemifa Corp. (b) | 7,200 | 213,258 | ||||||
Sumida Corp. (b) | 19,800 | 250,037 | ||||||
Sumitomo Bakelite Co., Ltd. | 87,000 | 759,972 | ||||||
Sumitomo Mitsui Construction Co., Ltd. | 81,060 | 480,186 | ||||||
Sumitomo Osaka Cement Co., Ltd. (b) | 211,793 | 928,026 | ||||||
Sumitomo Seika Chemicals Co., Ltd. (b) | 2,400 | 114,189 | ||||||
Sumitomo Warehouse Co., Ltd. | 48,000 | 316,389 | ||||||
Sun Corp. (b) | 10,000 | 66,102 | ||||||
Sun Frontier Fudousan Co., Ltd. (b) | 5,800 | 62,936 | ||||||
Sushiro Global Holdings, Ltd. (b) (c) | 11,000 | 535,778 | ||||||
SWCC Showa Holdings Co., Ltd. | 4,500 | 39,478 | ||||||
Systena Corp. | 11,200 | 447,052 | ||||||
T Hasegawa Co., Ltd. | 15,800 | 300,252 | ||||||
T RAD Co., Ltd. | 1,500 | 55,007 | ||||||
Tabuchi Electric Co., Ltd. (b) (c) | 2,300 | 5,904 | ||||||
Tachi-S Co., Ltd. | 21,200 | 376,557 | ||||||
Tadano, Ltd. | 68,900 | 1,022,972 | ||||||
Taihei Dengyo Kaisha, Ltd. (b) | 12,500 | 316,173 | ||||||
Taikisha, Ltd. | 15,800 | 511,810 | ||||||
Taiko Pharmaceutical Co., Ltd. (b) | 14,300 | 271,747 | ||||||
Taiyo Holdings Co., Ltd. | 4,600 | 196,370 | ||||||
Taiyo Yuden Co., Ltd. (b) | 67,800 | 1,122,031 | ||||||
Takamatsu Construction Group Co., Ltd. | 7,900 | 224,706 | ||||||
Takaoka Toko Co., Ltd. | 1,900 | 30,211 | ||||||
Takara Bio, Inc. | 25,800 | 520,609 | ||||||
Takara Leben Co., Ltd. (b) | 42,500 | 182,228 | ||||||
Takara Standard Co., Ltd. | 30,300 | 510,556 | ||||||
Takasago International Corp. | 42,300 | 1,240,959 | ||||||
Takasago Thermal Engineering Co., Ltd. | 35,000 | 641,420 | ||||||
TAKATA Corp. (a) (c) | 300 | — | ||||||
Takeuchi Manufacturing Co., Ltd. | 22,800 | 497,162 | ||||||
Takuma Co., Ltd. | 39,900 | 433,329 | ||||||
Tamron Co., Ltd. | 5,400 | 111,453 | ||||||
Tamura Corp. (b) | 50,800 | 378,791 | ||||||
Tanseisha Co., Ltd. | 24,300 | 291,554 | ||||||
TechnoPro Holdings, Inc. | 17,100 | 1,021,016 | ||||||
Teikoku Electric Manufacturing Co., Ltd. | 3,600 | 54,093 | ||||||
Teikoku Sen-I Co., Ltd. (b) | 15,900 | 303,647 | ||||||
Tekken Corp. (b) | 7,200 | 206,150 | ||||||
T-Gaia Corp. | 10,300 | 287,160 | ||||||
TKC Corp. | 7,700 | 310,606 | ||||||
Toa Corp. (f) | 20,200 | 248,060 | ||||||
Toa Corp. (f) | 8,000 | 166,921 | ||||||
Toagosei Co., Ltd. | 186,200 | 2,183,276 | ||||||
Tobishima Corp. | 111,100 | 182,816 |
Security Description | Shares | Value | ||||||
TOC Co., Ltd. | 147,960 | $ | 1,214,566 | |||||
Tocalo Co., Ltd. (b) | 33,400 | 398,539 | ||||||
Tochigi Bank, Ltd. | 153,300 | 585,236 | ||||||
Toei Animation Co., Ltd. | 8,700 | 283,456 | ||||||
Toei Co., Ltd. | 14,140 | 1,497,098 | ||||||
Toho Bank, Ltd. | 90,000 | 345,275 | ||||||
Toho Holdings Co., Ltd. (b) | 73,819 | 1,740,143 | ||||||
Toho Zinc Co., Ltd. (b) | 5,300 | 245,190 | ||||||
Tokai Carbon Co., Ltd. | 134,000 | 1,951,725 | ||||||
TOKAI Holdings Corp. | 62,700 | 621,989 | ||||||
Tokai Rika Co., Ltd. | 20,200 | 407,039 | ||||||
Tokai Tokyo Financial Holdings, Inc. | 75,200 | 513,354 | ||||||
Token Corp. | 3,800 | 376,248 | ||||||
Tokushu Tokai Paper Co., Ltd. | 5,100 | 194,937 | ||||||
Tokuyama Corp. (b) | 47,200 | 1,473,474 | ||||||
Tokyo Base Co., Ltd. (b) (c) | 12,000 | 163,498 | ||||||
Tokyo Dome Corp. | 45,900 | 432,025 | ||||||
Tokyo Ohka Kogyo Co., Ltd. | 19,600 | 704,937 | ||||||
Tokyo Seimitsu Co., Ltd. | 23,900 | 951,730 | ||||||
Tokyo Steel Manufacturing Co., Ltd. (b) | 56,500 | 451,044 | ||||||
Tokyo Tekko Co., Ltd. | 1,800 | 25,997 | ||||||
Tokyo TY Financial Group, Inc. | 15,600 | 371,994 | ||||||
Tokyotokeiba Co., Ltd. | 8,900 | 331,815 | ||||||
Tokyu Construction Co., Ltd. | 42,000 | 450,606 | ||||||
Tokyu REIT, Inc. | 355 | 481,345 | ||||||
Tomoe Engineering Co., Ltd. | 2,800 | 55,842 | ||||||
TOMONY Holdings, Inc. | 185,480 | 833,657 | ||||||
Tomy Co., Ltd. | 57,800 | 578,272 | ||||||
Topcon Corp. | 58,100 | 1,121,573 | ||||||
Topre Corp. | 25,700 | 743,089 | ||||||
Topy Industries, Ltd. | 29,598 | 847,446 | ||||||
Toridoll Holdings Corp. | 10,200 | 372,130 | ||||||
Torii Pharmaceutical Co., Ltd. | 5,600 | 147,806 | ||||||
Torishima Pump Manufacturing Co., Ltd. (b) | 5,600 | 52,393 | ||||||
Tosei Reit Investment Corp. | 217 | 227,304 | ||||||
Toshiba Machine Co., Ltd. | 51,000 | 348,632 | ||||||
Toshiba Plant Systems & Services Corp. | 24,900 | 539,441 | ||||||
Toshiba TEC Corp. | 54,000 | 315,825 | ||||||
Tosho Co., Ltd. | 9,000 | 344,006 | ||||||
Totetsu Kogyo Co., Ltd. | 15,800 | 488,782 | ||||||
Towa Corp. (b) | 21,200 | 283,464 | ||||||
Towa Pharmaceutical Co., Ltd. | 2,800 | 176,925 | ||||||
Toyo Construction Co., Ltd. | 41,400 | 187,244 | ||||||
Toyo Corp. | 82,568 | 738,337 | ||||||
Toyo Engineering Corp. (b) (c) | 3,400 | 32,162 | ||||||
Toyo Ink SC Holdings Co., Ltd. | 60,000 | 371,227 | ||||||
Toyo Kanetsu KK | 7,500 | 214,034 | ||||||
Toyo Tanso Co., Ltd. | 8,300 | 257,546 | ||||||
Toyobo Co., Ltd. | 42,778 | 836,253 | ||||||
TPR Co., Ltd. | 17,800 | 502,116 | ||||||
Transcosmos, Inc. (c) | 15,500 | 400,216 | ||||||
Trusco Nakayama Corp. | 23,200 | 569,365 | ||||||
TSI Holdings Co., Ltd. | 73,200 | 529,986 | ||||||
Tsubaki Nakashima Co., Ltd. | 14,700 | 374,584 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Tsubakimoto Chain Co. | 62,000 | $ | 500,780 | |||||
Tsugami Corp. (b) | 39,000 | 489,196 | ||||||
Tsukishima Kikai Co., Ltd. | 28,400 | 397,894 | ||||||
Tsukui Corp. | 30,400 | 233,824 | ||||||
Tsurumi Manufacturing Co., Ltd. | 10,900 | 196,784 | ||||||
UACJ Corp. (b) | 14,500 | 368,397 | ||||||
Uchida Yoko Co., Ltd. | 6,800 | 182,676 | ||||||
Unipres Corp. | 18,900 | 422,606 | ||||||
United Arrows, Ltd. | 15,200 | 570,268 | ||||||
United Super Markets Holdings, Inc. | 34,600 | 369,262 | ||||||
UNITED, Inc. (b) | 5,300 | 209,807 | ||||||
Unitika, Ltd. (c) | 86,500 | 532,746 | ||||||
Unizo Holdings Co., Ltd. (b) | 6,900 | 167,391 | ||||||
Ushio, Inc. | 63,500 | 840,696 | ||||||
UT Group Co., Ltd. (c) | 14,900 | 476,352 | ||||||
V Technology Co., Ltd. (b) | 1,936 | 554,313 | ||||||
Valor Holdings Co., Ltd. | 34,100 | 924,403 | ||||||
Vector, Inc. (c) | 18,900 | 432,559 | ||||||
Vital KSK Holdings, Inc. | 29,200 | 288,293 | ||||||
VT Holdings Co., Ltd. (b) | 24,200 | 124,243 | ||||||
Wacoal Holdings Corp. | 36,000 | 1,034,133 | ||||||
Wacom Co., Ltd. (b) | 77,100 | 373,357 | ||||||
Wakachiku Construction Co., Ltd. | 3,800 | 58,742 | ||||||
Wakita & Co., Ltd. | 10,900 | 120,120 | ||||||
WATAMI Co., Ltd. (b) | 17,300 | 225,461 | ||||||
WirelessGate, Inc. | 3,700 | 50,690 | ||||||
W-Scope Corp. (b) | 9,400 | 127,455 | ||||||
Xebio Holdings Co., Ltd. | 8,000 | 156,991 | ||||||
Yahagi Construction Co., Ltd. | 27,700 | 206,024 | ||||||
YAMABIKO Corp. | 23,500 | 304,937 | ||||||
Yamagata Bank, Ltd. | 15,600 | 351,312 | ||||||
Yamaichi Electronics Co., Ltd. (b) | 17,300 | 292,969 | ||||||
Yamanashi Chuo Bank, Ltd. | 112,000 | 460,216 | ||||||
Yamato Kogyo Co., Ltd. | 13,400 | 366,279 | ||||||
Yamazen Corp. | 51,500 | 528,801 | ||||||
Yaoko Co., Ltd. | 9,000 | 479,831 | ||||||
Yasunaga Corp. (b) | 6,900 | 147,602 | ||||||
Yellow Hat, Ltd. | 10,300 | 304,109 | ||||||
Yodogawa Steel Works, Ltd. | 45,300 | 1,196,925 | ||||||
Yokogawa Bridge Holdings Corp. | 19,400 | 411,714 | ||||||
Yokohama Reito Co., Ltd. (b) | 27,800 | 272,380 | ||||||
Yondoshi Holdings, Inc. (b) | 15,700 | 404,347 | ||||||
Yonex Co., Ltd. (b) | 27,000 | 151,058 | ||||||
Yorozu Corp. | 15,700 | 258,197 | ||||||
Yoshinoya Holdings Co., Ltd. | 33,100 | 663,245 | ||||||
Yuasa Trading Co., Ltd. | 10,300 | 334,133 | ||||||
Yume No Machi Souzou Iinkai Co., Ltd. (b) | 14,672 | 304,891 | ||||||
Yumeshin Holdings Co., Ltd. | 46,900 | 517,289 | ||||||
Yushin Precision Equipment Co., Ltd. | 16,400 | 261,845 | ||||||
Zenrin Co., Ltd. | 52,165 | 1,084,502 | ||||||
ZERIA Pharmaceutical Co., Ltd. | 23,400 | 468,660 |
Security Description | Shares | Value | ||||||
Zojirushi Corp. (b) | 24,800 | $ | 360,982 | |||||
|
| |||||||
338,474,876 | ||||||||
|
| |||||||
LIECHTENSTEIN — 0.0% (g) |
| |||||||
VP Bank AG | 1,823 | 282,131 | ||||||
|
| |||||||
LUXEMBOURG — 0.1% |
| |||||||
Orion Engineered Carbons SA | 19,911 | 539,588 | ||||||
|
| |||||||
MACAU — 0.1% |
| |||||||
Macau Legend Development, Ltd. (b) (c) | 3,261,740 | 477,938 | ||||||
|
| |||||||
MALTA — 0.0% (g) |
| |||||||
Catena Media PLC (c) | 28,235 | 381,645 | ||||||
|
| |||||||
NETHERLANDS — 1.4% |
| |||||||
Accell Group | 13,209 | 287,863 | ||||||
AMG Advanced Metallurgical Group NV | 12,726 | 567,195 | ||||||
Amsterdam Commodities NV | 16,935 | 443,626 | ||||||
Arcadis NV | 32,769 | 642,801 | ||||||
Beter Bed Holding NV | 15,280 | 174,955 | ||||||
BinckBank NV | 4,310 | 24,569 | ||||||
Brack Capital Properties NV (c) | 2,068 | 247,334 | ||||||
Constellium NV Class A (c) | 53,589 | 581,441 | ||||||
Corbion NV | 43,082 | 1,304,476 | ||||||
Flow Traders (e) | 20,990 | 893,700 | ||||||
ForFarmers NV | 10,689 | 149,074 | ||||||
Fugro NV (c) | 32,064 | 423,126 | ||||||
Heijmans NV (c) | 25,097 | 289,519 | ||||||
Intertrust NV (e) | 42,931 | 889,130 | ||||||
Kendrion NV | 12,660 | 516,921 | ||||||
Koninklijke BAM Groep NV (b) | 131,351 | 611,275 | ||||||
NSI NV REIT | 11,876 | 498,785 | ||||||
Pharming Group NV (b) (c) | 415,607 | 605,694 | ||||||
PostNL NV | 178,566 | 668,052 | ||||||
Refresco Group NV (e) | 28,891 | 708,856 | ||||||
Rhi Magnesita NV (c) (f) | 12,252 | 748,886 | ||||||
Rhi Magnesita NV (c) (f) | 1,458 | 89,992 | ||||||
Takeaway.com NV (c) (e) | 16,070 | 853,792 | ||||||
Vastned Retail NV REIT | 6,518 | 310,626 | ||||||
Wessanen | 32,688 | 654,076 | ||||||
|
| |||||||
13,185,764 | ||||||||
|
| |||||||
NEW ZEALAND — 1.1% |
| |||||||
Argosy Property, Ltd. | 388,602 | 280,337 | ||||||
Arvida Group, Ltd. | 267,566 | 227,766 | ||||||
Chorus, Ltd. (b) | 168,243 | 485,482 | ||||||
EBOS Group, Ltd. | 33,654 | 435,790 | ||||||
Freightways, Ltd. | 87,708 | 478,973 | ||||||
Genesis Energy, Ltd. | 203,194 | 348,137 | ||||||
Goodman Property Trust REIT | 406,289 | 389,819 | ||||||
Heartland Bank, Ltd. | 283,478 | 359,922 | ||||||
Infratil, Ltd. | 336,571 | 752,687 | ||||||
Investore Property, Ltd. (b) | 185,441 | 187,288 | ||||||
Kiwi Property Group, Ltd. | 609,103 | 588,805 | ||||||
Metlifecare, Ltd. | 72,555 | 306,196 | ||||||
New Zealand Refining Co., Ltd. | 111,273 | 183,824 | ||||||
Precinct Properties New Zealand, Ltd. | 517,373 | 477,738 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Restaurant Brands New Zealand, Ltd. | 159,987 | $ | 827,522 | |||||
SKY Network Television, Ltd. | 141,888 | 234,400 | ||||||
SKYCITY Entertainment Group, Ltd. | 376,435 | 1,059,084 | ||||||
Stride Property Group | 285,475 | 350,101 | ||||||
Summerset Group Holdings, Ltd. (b) | 142,208 | 711,966 | ||||||
Tourism Holdings, Ltd. | 65,578 | 288,578 | ||||||
Trade Me Group, Ltd. | 223,169 | 713,204 | ||||||
Vital Healthcare Property Trust REIT (b) | 238,344 | 358,498 | ||||||
Warehouse Group, Ltd. | 57,956 | 84,037 | ||||||
|
| |||||||
10,130,154 | ||||||||
|
| |||||||
NORWAY — 1.3% |
| |||||||
Akastor ASA (c) | 101,731 | 197,477 | ||||||
Aker Solutions ASA (c) | 62,928 | 332,236 | ||||||
Asetek A/S (b) | 10,291 | 119,020 | ||||||
Atea ASA | 44,157 | 715,425 | ||||||
Avance Gas Holding, Ltd. (c) (e) | 15,200 | 44,530 | ||||||
B2Holding ASA | 168,111 | 419,691 | ||||||
Borregaard ASA | 59,288 | 558,826 | ||||||
BW Offshore, Ltd. (c) | 53,159 | 289,800 | ||||||
DNO ASA (c) | 352,152 | 554,180 | ||||||
Europris ASA (e) | 54,470 | 174,838 | ||||||
Frontline, Ltd. (b) | 12,384 | 56,313 | ||||||
Golden Ocean Group, Ltd. (b) | 38,172 | 303,467 | ||||||
Grieg Seafood ASA | 30,653 | 281,895 | ||||||
Hoegh LNG Holdings, Ltd. | 22,149 | 117,926 | ||||||
IDEX ASA (c) | 327,933 | 169,168 | ||||||
Kongsberg Automotive ASA (c) | 287,288 | 325,676 | ||||||
Kongsberg Gruppen ASA | 14,071 | 339,097 | ||||||
Kvaerner ASA (c) | 118,608 | 195,793 | ||||||
Nordic Nanovector ASA (b) (c) | 31,835 | 200,800 | ||||||
Nordic Semiconductor ASA (c) | 89,529 | 531,977 | ||||||
Norway Royal Salmon ASA (b) | 9,639 | 197,422 | ||||||
Norwegian Air Shuttle ASA (b) (c) | 9,153 | 195,862 | ||||||
Ocean Yield ASA | 23,254 | 195,488 | ||||||
Petroleum Geo-Services ASA (b) (c) | 160,492 | 495,727 | ||||||
Prosafe SE (b) (c) | 63,012 | 95,028 | ||||||
Protector Forsikring ASA | 61,532 | 664,622 | ||||||
Sbanken ASA (e) | 40,406 | 378,793 | ||||||
Scatec Solar ASA (b) (e) | 101,239 | 591,242 | ||||||
Ship Finance International, Ltd. (b) | 36,638 | 523,923 | ||||||
SpareBank 1 Nord Norge | 42,310 | 334,128 | ||||||
SpareBank 1 SMN | 43,896 | 452,326 | ||||||
Stolt-Nielsen, Ltd. | 13,555 | 165,575 | ||||||
Thin Film Electronics ASA (c) | 304,476 | 81,830 | ||||||
Veidekke ASA (b) | 112,126 | 1,252,517 | ||||||
XXL ASA (b) (e) | 58,632 | 600,438 | ||||||
|
| |||||||
12,153,056 | ||||||||
|
| |||||||
PERU — 0.0% (g) |
| |||||||
Hochschild Mining PLC | 91,708 | 256,202 |
Security Description | Shares | Value | ||||||
PORTUGAL — 0.2% |
| |||||||
Altri SGPS SA | 215,886 | $ | 1,439,051 | |||||
Banco Comercial Portugues SA Class R (c) | 3,045 | 1,019 | ||||||
CTT-Correios de Portugal SA (b) | 32,023 | 123,191 | ||||||
Mota-Engil SGPS SA | 42,748 | 171,916 | ||||||
Pharol SGPS SA (c) | 68,282 | 19,147 | ||||||
REN - Redes Energeticas Nacionais SGPS SA | 112,252 | 346,237 | ||||||
|
| |||||||
2,100,561 | ||||||||
|
| |||||||
SINGAPORE — 1.5% |
| |||||||
Accordia Golf Trust | 434,300 | 213,623 | ||||||
AIMS AMP Capital Industrial REIT | 267,058 | 276,976 | ||||||
Ascendas Hospitality Trust REIT | 555,200 | 345,068 | ||||||
Ascott Residence Trust REIT (b) | 577,225 | 497,418 | ||||||
BW LPG, Ltd. (b) (c) (e) | 22,486 | 103,337 | ||||||
Cache Logistics Trust REIT | 543,948 | 346,371 | ||||||
CapitaLand Retail China Trust REIT | 372,873 | 449,279 | ||||||
CDL Hospitality Trusts | 476,680 | 614,344 | ||||||
China New Town Development Co., Ltd. (c) (d) | 428,500 | 15,560 | ||||||
COSCO Shipping International Singapore Co., Ltd. (b) (c) | 556,200 | 201,476 | ||||||
ESR-REIT | 1,294,009 | 527,945 | ||||||
Ezion Holdings, Ltd. (b) (c) (d) | 648,440 | 97,417 | ||||||
Ezra Holdings, Ltd. (a) (b) (c) | 1,444,295 | — | ||||||
Far East Hospitality Trust | 425,247 | 225,384 | ||||||
First Real Estate Investment Trust | 624,800 | 657,534 | ||||||
Frasers Centrepoint Trust REIT | 285,900 | 477,481 | ||||||
Frasers Commercial Trust REIT | 351,837 | 383,686 | ||||||
Frasers Logistics & Industrial Trust REIT | 605,500 | 503,314 | ||||||
Hyflux, Ltd. | 33,300 | 7,111 | ||||||
Hyfluxshop Holdings Pte, Ltd. (c) (d) | 3,380 | 460 | ||||||
Keppel DC REIT | 330,466 | 362,900 | ||||||
Keppel Infrastructure Trust | 1,384,638 | 564,921 | ||||||
Lian Beng Group, Ltd. | 134,600 | 68,260 | ||||||
Lippo Malls Indonesia Retail Trust REIT | 1,302,200 | 382,328 | ||||||
M1, Ltd. (b) | 228,100 | 302,672 | ||||||
Manulife US Real Estate Investment Trust | 339,300 | 315,549 | ||||||
Metro Holdings, Ltd. | 364,500 | 316,884 | ||||||
Midas Holdings, Ltd. (c) (d) | 1,078,700 | 157,943 | ||||||
OUE Hospitality Trust | 374,633 | 235,699 | ||||||
OUE Lippo Healthcare, Ltd. (c) | 1,800 | 174 | ||||||
OUE, Ltd. (b) | 97,600 | 135,463 | ||||||
Parkway Life Real Estate Investment Trust | 271,300 | 579,303 | ||||||
Raffles Medical Group, Ltd. (b) | 512,649 | 449,589 | ||||||
RHT Health Trust | 498,800 | 308,113 | ||||||
Rowsley, Ltd. (b) (c) | 1,164,200 | 108,314 |
133
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Sabana Shari’ah Compliant Industrial Real Estate Investment Trust | 210,849 | $ | 68,337 | |||||
Sheng Siong Group, Ltd. | 303,700 | 215,390 | ||||||
Soilbuild Business Space REIT (b) | 307,010 | 152,182 | ||||||
Starhill Global REIT | 803,900 | 447,531 | ||||||
Swiber Holdings, Ltd. (a) (b) (c) | 100,100 | — | ||||||
Tat Hong Holdings, Ltd. (c) | 849 | 320 | ||||||
Technics Oil & Gas, Ltd. (a) (c) | 1,254 | — | ||||||
UMS Holdings, Ltd. | 447,974 | 399,702 | ||||||
United Engineers, Ltd. | 311,700 | 620,405 | ||||||
Wing Tai Holdings, Ltd. | 607,499 | 958,990 | ||||||
Yoma Strategic Holdings, Ltd. (b) | 786,533 | 254,920 | ||||||
|
| |||||||
13,349,673 | ||||||||
|
| |||||||
SOUTH AFRICA — 0.0% (g) |
| |||||||
Petra Diamonds, Ltd. (b) (c) | 212,460 | 195,216 | ||||||
|
| |||||||
SOUTH KOREA — 11.5% |
| |||||||
Able C&C Co., Ltd. (b) (c) | 7,786 | 137,327 | ||||||
Advanced Process Systems Corp. (c) | 3,420 | 90,802 | ||||||
AeroSpace Technology of Korea, Inc. (b) (c) | 5,976 | 102,880 | ||||||
AfreecaTV Co., Ltd. | 5,520 | 149,406 | ||||||
Ahnlab, Inc. | 2,858 | 227,643 | ||||||
AJ Rent A Car Co., Ltd. (c) | 2,816 | 33,552 | ||||||
AK Holdings, Inc. | 2,007 | 135,382 | ||||||
Amicogen, Inc. (c) | 6,879 | 438,206 | ||||||
Aprogen pharmaceuticals, Inc. (b) (c) | 43,424 | 170,901 | ||||||
APS Holdings Corp. (c) | 3,032 | 21,021 | ||||||
Asiana Airlines, Inc. (c) | 46,918 | 209,522 | ||||||
Barun Electronics Co., Ltd. (b) (c) | 173,439 | 213,972 | ||||||
BH Co., Ltd. (c) | 17,538 | 299,457 | ||||||
Binex Co., Ltd. (c) | 16,215 | 178,747 | ||||||
Binggrae Co., Ltd. | 1,451 | 81,950 | ||||||
Boryung Pharmaceutical Co., Ltd. | 3,901 | 210,074 | ||||||
Bukwang Pharmaceutical Co., Ltd. | 13,878 | 324,849 | ||||||
Byucksan Corp. | 6,509 | 22,961 | ||||||
Cell Biotech Co., Ltd. | 3,464 | 157,617 | ||||||
Celltrion Pharm, Inc. (b) (c) | 9,521 | 756,571 | ||||||
Chabiotech Co., Ltd. (b) (c) | 28,359 | 573,353 | ||||||
Cheil Worldwide, Inc. | 47,032 | 803,061 | ||||||
Choa Pharmaceutical Co. (b) (c) | 18,441 | 107,438 | ||||||
Chong Kun Dang Pharmaceutical Corp. (b) | 3,916 | 468,421 | ||||||
Chongkundang Holdings Corp. | 2,053 | 140,603 | ||||||
CJ CGV Co., Ltd. | 7,419 | 471,909 | ||||||
CJ Freshway Corp. | 1,757 | 58,270 | ||||||
CJ O Shopping Co., Ltd. | 2,524 | 529,237 | ||||||
CNK International Co., Ltd. (a) (c) | 16,071 | — | ||||||
Com2uSCorp | 7,716 | 1,350,789 | ||||||
Cosmax BTI, Inc. | 6,954 | 209,422 |
Security Description | Shares | Value | ||||||
Cosmax, Inc. | 5,591 | $ | 721,233 | |||||
Crown Confectionery Co., Ltd. | 2,343 | 27,477 | ||||||
CROWNHAITAI Holdings Co., Ltd. | 1,920 | 23,957 | ||||||
CrucialTec Co., Ltd. (c) | 11,439 | 22,268 | ||||||
CrystalGenomics, Inc. (c) | 12,973 | 300,622 | ||||||
CTC BIO, Inc. (c) | 6,650 | 90,775 | ||||||
Dae Han Flour Mills Co., Ltd. | 499 | 78,649 | ||||||
Dae Hwa Pharmaceutical Co., Ltd. (b) | 9,573 | 268,536 | ||||||
Daeduck GDS Co., Ltd. | 6,408 | 101,299 | ||||||
Daesang Corp. | 17,689 | 428,990 | ||||||
Daesang Holdings Co., Ltd. | 5,077 | 45,583 | ||||||
Daewon Pharmaceutical Co., Ltd. | 10,938 | 209,340 | ||||||
Daewoong Co., Ltd. | 25,897 | 508,999 | ||||||
Daewoong Pharmaceutical Co., Ltd. | 1,838 | 345,735 | ||||||
Daishin Securities Co., Ltd. Preference Shares | 65,358 | 531,620 | ||||||
Daou Technology, Inc. | 19,829 | 406,477 | ||||||
DB HiTek Co., Ltd. | 27,173 | 369,649 | ||||||
Dentium Co., Ltd. | 6,188 | 471,400 | ||||||
DGB Financial Group, Inc. | 107,013 | 1,169,623 | ||||||
Digital Power Communications Co., Ltd. | 14,221 | 62,039 | ||||||
DIO Corp. (c) | 9,717 | 407,040 | ||||||
Dong-A Socio Holdings Co., Ltd. (b) | 4,528 | 564,991 | ||||||
Dong-A ST Co., Ltd. | 4,774 | 508,349 | ||||||
Dongjin Semichem Co., Ltd. | 21,327 | 295,125 | ||||||
DongKook Pharmaceutical Co., Ltd. | 3,424 | 226,147 | ||||||
Dongkuk Steel Mill Co., Ltd. | 53,320 | 512,740 | ||||||
Dongsung Finetec Co., Ltd. (c) | 8,703 | 66,871 | ||||||
Dongwha Pharm Co., Ltd. | 32,862 | 366,880 | ||||||
Dongwon F&B Co., Ltd. | 422 | 86,704 | ||||||
Dongwon Industries Co., Ltd. | 1,238 | 349,019 | ||||||
Doosan Heavy Industries & Construction Co., Ltd. (b) (c) | 46,935 | 700,128 | ||||||
Doosan Infracore Co., Ltd. (c) | 61,564 | 561,405 | ||||||
DoubleUGames Co., Ltd. | 6,863 | 462,298 | ||||||
Douzone Bizon Co., Ltd. | 18,373 | 1,018,711 | ||||||
Ecopro Co., Ltd. (c) | 11,468 | 417,987 | ||||||
Eo Technics Co., Ltd. | 5,460 | 378,035 | ||||||
Eugene Investment & Securities Co., Ltd. (c) | 120,467 | 393,306 | ||||||
Eugene Technology Co., Ltd. | 4,007 | 70,298 | ||||||
Eusu Holdings Co., Ltd. (c) | 6,748 | 44,569 | ||||||
Fila Korea, Ltd. | 7,456 | 751,966 | ||||||
Finetex EnE, Inc. (b) (c) (d) | 52,969 | 177,905 | ||||||
Foosung Co., Ltd. (b) (c) | 40,899 | 374,111 | ||||||
Gamevil, Inc. (b) (c) | 3,514 | 240,662 | ||||||
GemVax & Kael Co., Ltd. (c) | 6,775 | 100,427 | ||||||
Genexine Co., Ltd. (c) | 8,417 | 807,034 | ||||||
GNCO Co., Ltd. (b) (c) | 23,408 | 58,745 | ||||||
GOLFZON Co., Ltd. | 2,277 | 96,130 | ||||||
GOLFZONNEWDIN Co., Ltd. | 2,676 | 14,185 | ||||||
Grand Korea Leisure Co., Ltd. | 15,510 | 356,502 |
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SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Green Cross Cell Corp. | 3,338 | $ | 175,058 | |||||
Green Cross Corp. | 4,228 | 797,287 | ||||||
Green Cross Holdings Corp. | 15,402 | 574,378 | ||||||
GS Engineering & Construction Corp. (b) | 27,351 | 764,668 | ||||||
GS Home Shopping, Inc. | 2,664 | 469,618 | ||||||
G-treeBNT Co., Ltd. (c) | 14,858 | 641,212 | ||||||
Halla Holdings Corp. | 2,799 | 129,591 | ||||||
Hana Tour Service, Inc. | 4,961 | 556,187 | ||||||
Hanall Biopharma Co., Ltd. (c) | 16,666 | 505,030 | ||||||
Hancom, Inc. | 6,416 | 98,115 | ||||||
Handsome Co., Ltd. | 12,215 | 353,535 | ||||||
Hanil Cement Co., Ltd. | 1,805 | 182,888 | ||||||
Hanjin Heavy Industries & Construction Co., Ltd. (c) | 27,992 | 81,016 | ||||||
Hanjin Kal Corp. | 24,405 | 451,054 | ||||||
Hanjin Shipping Co., Ltd. (a) (c) | 1,732 | — | ||||||
Hanjin Transportation Co., Ltd. | 4,197 | 90,760 | ||||||
Hankook Shell Oil Co., Ltd. | 301 | 94,460 | ||||||
Hankook Tire Worldwide Co., Ltd. | 14,820 | 262,781 | ||||||
Hanmi Pharm Co., Ltd. | 505 | 244,943 | ||||||
Hanmi Semiconductor Co., Ltd. | 14,582 | 151,853 | ||||||
Hansae Co., Ltd. | 11,284 | 227,077 | ||||||
Hansol Chemical Co., Ltd. | 8,927 | 582,906 | ||||||
Hansol Holdings Co., Ltd. | 49,859 | 209,091 | ||||||
Hansol Paper Co., Ltd. | 31,921 | 479,159 | ||||||
Hansol Technics Co., Ltd. (c) | 13,569 | 154,671 | ||||||
Hanwha Investment & Securities Co., Ltd. (c) | 209,441 | 596,354 | ||||||
Hanwha Techwin Co., Ltd. (b) (c) | 23,686 | 642,204 | ||||||
Harim Co., Ltd. (c) | 19,859 | 65,489 | ||||||
Heung-A Shipping Co., Ltd. (c) | 60,047 | 37,519 | ||||||
Hite Jinro Co., Ltd. | 17,448 | 365,853 | ||||||
HLB, Inc. (c) | 17,909 | 1,108,916 | ||||||
Homecast Co., Ltd. (c) | 15,400 | 180,599 | ||||||
HS Industries Co., Ltd. | 37,805 | 297,929 | ||||||
Huchems Fine Chemical Corp. | 22,552 | 518,364 | ||||||
Humax Co., Ltd. (c) | 34,363 | 271,770 | ||||||
Humedix Co., Ltd. | 1,155 | 48,382 | ||||||
Huons Co., Ltd. | 2,699 | 272,457 | ||||||
Huons Global Co., Ltd. | 2,248 | 149,951 | ||||||
Hwa Shin Co., Ltd. | 1,196 | 4,443 | ||||||
Hyundai BNG Steel Co., Ltd. | 2,607 | 28,249 | ||||||
Hyundai Construction Equipment Co., Ltd. (c) | 3,796 | 628,571 | ||||||
Hyundai Corp. | 2,463 | 41,478 | ||||||
Hyundai Electric & Energy System Co., Ltd. (c) | 4,675 | 360,526 | ||||||
Hyundai Elevator Co., Ltd. | 7,837 | 584,522 | ||||||
Hyundai Engineering Plastics Co., Ltd. | 5,295 | 32,240 | ||||||
Hyundai Greenfood Co., Ltd. | 36,950 | 478,384 | ||||||
Hyundai Home Shopping Network Corp. | 4,296 | 419,161 | ||||||
Hyundai Hy Communications & Network Co., Ltd. | 13,147 | 53,962 | ||||||
Hyundai IBT Co., Ltd. (b) (c) | 48,307 | 255,154 |
Security Description | Shares | Value | ||||||
Hyundai Livart Furniture Co., Ltd. | 13,828 | $ | 306,165 | |||||
Hyundai Merchant Marine Co., Ltd. (c) | 100,802 | 412,797 | ||||||
Hyundai Mipo Dockyard Co., Ltd. (c) | 4,485 | 417,826 | ||||||
Hyundai Rotem Co., Ltd. (c) | 26,264 | 385,619 | ||||||
Hyundai Wia Corp. (b) | 12,529 | 646,491 | ||||||
Il Dong Pharmaceutical Co., Ltd. | 8,587 | 192,541 | ||||||
Iljin Materials Co., Ltd. | 10,442 | 360,998 | ||||||
Ilyang Pharmaceutical Co., Ltd. (c) | 8,894 | 336,685 | ||||||
iMarketKorea, Inc. | 1,627 | 15,264 | ||||||
InBody Co., Ltd. | 4,566 | 216,755 | ||||||
Innocean Worldwide, Inc. | 6,245 | 377,313 | ||||||
Innox Advanced Materials Co., Ltd. (c) | 2,740 | 167,089 | ||||||
Inscobee, Inc. (c) | 56,895 | 461,181 | ||||||
Interflex Co., Ltd. (b) (c) | 7,351 | 150,344 | ||||||
Interojo Co., Ltd. | 3,762 | 143,118 | ||||||
Interpark Holdings Corp. | 6,265 | 21,424 | ||||||
iNtRON Biotechnology, Inc. (b) (c) | 7,741 | 317,730 | ||||||
IS Dongseo Co., Ltd. | 6,386 | 180,934 | ||||||
i-SENS, Inc. | 2,677 | 73,210 | ||||||
Jayjun Cosmetic Co., Ltd. (b) (c) | 15,984 | 295,417 | ||||||
JB Financial Group Co., Ltd. | 217,350 | 1,239,786 | ||||||
Jeil Holdings Co., Ltd. | 40,580 | 546,321 | ||||||
Jeil Pharma Holdings, Inc. | 1,479 | 43,986 | ||||||
Jeil Pharmaceutical Co., Ltd. (b) | 3,674 | 210,258 | ||||||
Jeju Air Co., Ltd. | 5,448 | 228,725 | ||||||
Jenax, Inc. (b) (c) | 7,586 | 232,014 | ||||||
JoyCity Corp. (c) | 332 | 4,968 | ||||||
Jusung Engineering Co., Ltd. | 22,881 | 229,690 | ||||||
JW Holdings Corp. | 28,771 | 221,606 | ||||||
JW Pharmaceutical Corp. | 6,482 | 256,933 | ||||||
JYP Entertainment Corp. (b) (c) | 24,476 | 526,995 | ||||||
KB Financial Group, Inc. | 136 | 7,860 | ||||||
KC Co., Ltd. | 6,008 | 134,150 | ||||||
KC Tech Co., Ltd./New | 8,932 | 187,288 | ||||||
KEPCO Plant Service & Engineering Co., Ltd. | 16,199 | 689,966 | ||||||
Kginicis Co., Ltd. | 17,112 | 336,332 | ||||||
KGMobilians Co., Ltd. | 47,763 | 419,870 | ||||||
KH Vatec Co., Ltd. (c) | 6,181 | 68,137 | ||||||
KIWOOM Securities Co., Ltd. (b) | 7,477 | 747,069 | ||||||
Koh Young Technology, Inc. | 5,071 | 476,700 | ||||||
Kolao Holdings | 1,569 | 7,360 | ||||||
Kolon Corp. | 4,216 | 195,790 | ||||||
Kolon Industries, Inc. | 9,808 | 604,546 | ||||||
Kolon Life Science, Inc. (c) | 3,174 | 262,043 | ||||||
Komipharm International Co., Ltd. (b) (c) | 15,145 | 561,242 | ||||||
KONA I Co., Ltd. (c) | 1,178 | 12,102 | ||||||
Korea Asset In Trust Co., Ltd. | 63,021 | 354,157 | ||||||
Korea Electric Terminal Co., Ltd. | 2,753 | 138,179 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Korea Kolmar Co., Ltd. (b) | 9,650 | $ | 704,353 | |||||
Korea Kolmar Holdings Co., Ltd. | 2,161 | 97,214 | ||||||
Korea Line Corp. (c) | 7,169 | 187,985 | ||||||
Korea Petrochemical Ind Co., Ltd. | 2,794 | 765,408 | ||||||
Korea Real Estate Investment & Trust Co., Ltd. | 56,457 | 159,164 | ||||||
Korea United Pharm, Inc. | 7,476 | 192,529 | ||||||
Korean Reinsurance Co. | 100,635 | 1,076,310 | ||||||
Kortek Corp. | 8,261 | 108,504 | ||||||
KT Skylife Co., Ltd. | 5,372 | 61,486 | ||||||
Kumho Industrial Co., Ltd. | 14,595 | 147,881 | ||||||
Kumho Tire Co., Inc. (b) (c) | 53,599 | 178,513 | ||||||
Kwang Dong Pharmaceutical Co., Ltd. | 18,591 | 154,184 | ||||||
KyungDong City Gas Co., Ltd. | 835 | 30,003 | ||||||
KyungDong Invest Co., Ltd. | 151 | 5,936 | ||||||
Kyungdong Pharm Co., Ltd. | 7,433 | 165,968 | ||||||
L&F Co., Ltd. (b) | 11,643 | 423,819 | ||||||
Leaders Cosmetics Co., Ltd. (c) | 7,685 | 163,664 | ||||||
LEENO Industrial, Inc. | 7,373 | 412,954 | ||||||
LF Corp. | 13,847 | 344,908 | ||||||
LG Hausys, Ltd. | 3,120 | 225,972 | ||||||
LG International Corp. | 41,211 | 1,043,904 | ||||||
LIG Nex1 Co., Ltd. | 5,661 | 246,165 | ||||||
Lock&Lock Co., Ltd. | 3,509 | 78,845 | ||||||
Loen Entertainment, Inc. | 4,356 | 451,579 | ||||||
Lotte Chilsung Beverage Co., Ltd. | 296 | 424,603 | ||||||
Lotte Corp. (c) | 5,302 | 315,364 | ||||||
LOTTE Fine Chemical Co., Ltd. | 15,781 | 1,051,178 | ||||||
Lotte Food Co., Ltd. | 725 | 442,795 | ||||||
LOTTE Himart Co., Ltd. | 4,512 | 310,705 | ||||||
LS Industrial Systems Co., Ltd. | 12,208 | 702,083 | ||||||
Lumens Co., Ltd. (c) | 19,316 | 67,685 | ||||||
Lutronic Corp. | 1,578 | 30,719 | ||||||
Macrogen, Inc. (b) (c) | 4,563 | 204,627 | ||||||
Maeil Dairies Co., Ltd. | 935 | 54,912 | ||||||
Maeil Holdings Co., Ltd. | 702 | 9,089 | ||||||
MagnaChip Semiconductor Corp. (b) (c) | 26,100 | 250,560 | ||||||
Medipost Co., Ltd. (c) | 4,656 | 622,460 | ||||||
Meritz Financial Group, Inc. | 35,474 | 482,572 | ||||||
Minwise Co., Ltd. | 38,987 | 894,298 | ||||||
Mirae Corp. (c) | 235,162 | 49,861 | ||||||
Modetour Network, Inc. | 7,645 | 278,646 | ||||||
Muhak Co., Ltd. | 4,979 | 80,578 | ||||||
Naturalendo Tech Co., Ltd. (b) (c) | 10,913 | 205,278 | ||||||
Naturecell Co., Ltd. (c) | 30,627 | 781,550 | ||||||
Neowiz (c) | 6,816 | 128,531 | ||||||
NEPES Corp. | 10,574 | 83,132 | ||||||
Nexen Tire Corp. | 28,492 | 332,794 | ||||||
NHN Entertainment Corp. (c) | 9,128 | 578,047 | ||||||
NHN KCP Corp. (c) | 7,824 | 129,189 | ||||||
NICE Holdings Co., Ltd. | 5,576 | 82,654 | ||||||
NongShim Co., Ltd. | 3,055 | 859,837 |
Security Description | Shares | Value | ||||||
OCI Co., Ltd. | 8,205 | $ | 1,216,240 | |||||
Orion Holdings Corp. | 13,096 | 329,888 | ||||||
Osstem Implant Co., Ltd. (c) | 8,357 | 418,673 | ||||||
Paradise Co., Ltd. (b) | 26,891 | 514,660 | ||||||
Partron Co., Ltd. | 26,298 | 210,206 | ||||||
Paru Co., Ltd. (b) (c) | 92,121 | 309,836 | ||||||
Peptron, Inc. (c) | 7,483 | 466,152 | ||||||
Pharmicell Co., Ltd. (c) | 65,580 | 959,797 | ||||||
Poongsan Corp. | 20,228 | 729,681 | ||||||
POSCO Chemtech Co., Ltd. | 13,567 | 601,408 | ||||||
Posco ICT Co., Ltd. | 8,162 | 60,034 | ||||||
Power Logics Co., Ltd. (c) | 15,954 | 69,225 | ||||||
PSK, Inc. | 15,742 | 374,388 | ||||||
Qurient Co., Ltd. (c) | 6,855 | 163,352 | ||||||
Redrover Co., Ltd. (b) (c) | 22,928 | 76,792 | ||||||
S&T Dynamics Co., Ltd. (c) | 7,617 | 56,168 | ||||||
S&T Motiv Co., Ltd. | 10,748 | 396,281 | ||||||
Sajo Industries Co., Ltd. | 1,260 | 80,856 | ||||||
Sam Chun Dang Pharm Co., Ltd. | 6,383 | 234,145 | ||||||
Sam Kwang Glass Co., Ltd. (d) | 191 | 10,321 | ||||||
Sam Yung Trading Co., Ltd. | 5,818 | 96,339 | ||||||
Samchully Co., Ltd. | 506 | 53,406 | ||||||
Samjin Pharmaceutical Co., Ltd. | 10,812 | 439,723 | ||||||
Samsung Engineering Co., Ltd. (c) | 99,738 | 1,731,075 | ||||||
Samsung Pharmaceutical Co., Ltd. (b) (c) | 37,990 | 156,822 | ||||||
Samyang Holdings Corp. | 4,265 | 385,727 | ||||||
Seah Besteel Corp. | 12,058 | 298,650 | ||||||
SeAH Steel Corp. | 684 | 53,775 | ||||||
Sebang Co., Ltd. | 2,736 | 34,781 | ||||||
Seegene, Inc. (c) | 14,902 | 485,129 | ||||||
Seobu T&D (c) | 11,932 | 124,816 | ||||||
Seohan Co., Ltd. | 158,997 | 343,084 | ||||||
Seoul Semiconductor Co., Ltd. | 25,652 | 478,914 | ||||||
SEOWONINTECH Co., Ltd. | 7,029 | 45,633 | ||||||
Seoyon Co., Ltd. | 3,310 | 19,284 | ||||||
Seoyon E-Hwa Co., Ltd. | 3,595 | 28,871 | ||||||
SFA Engineering Corp. | 30,847 | 1,007,107 | ||||||
Shinsegae Information & Communication Co., Ltd. | 7,638 | 1,268,342 | ||||||
Shinsegae, Inc. | 3,540 | 1,157,416 | ||||||
Silicon Works Co., Ltd. | 5,386 | 192,267 | ||||||
SillaJen, Inc. (c) | 33,254 | 3,341,311 | ||||||
Sindoh Co., Ltd. | 1,312 | 80,623 | ||||||
SK Bioland Co., Ltd. | 4,062 | 78,885 | ||||||
SK Chemicals Co., Ltd. (c) | 4,134 | 403,355 | ||||||
SK Discovery Co., Ltd. | 3,850 | 147,188 | ||||||
SK Gas, Ltd. | 3,836 | 335,771 | ||||||
SK Materials Co., Ltd. (b) | 3,197 | 445,702 | ||||||
SK Networks Co., Ltd. | 76,213 | 413,991 | ||||||
SK Securities Co., Ltd. (c) | 254,908 | 280,999 | ||||||
SKC Co., Ltd. | 15,281 | 547,644 | ||||||
SKCKOLONPI, Inc. | 9,582 | 399,587 | ||||||
SM Culture & Contents Co., Ltd. (b) (c) | 103,607 | 333,401 |
136
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SM Entertainment Co., Ltd. (b) (c) | 9,774 | $ | 426,850 | |||||
Songwon Industrial Co., Ltd. | 16,189 | 463,237 | ||||||
Soulbrain Co., Ltd. | 8,198 | 449,163 | ||||||
SPC Samlip Co., Ltd. | 1,740 | 202,421 | ||||||
Suheung Co., Ltd. | 1,559 | 47,096 | ||||||
SundayToz Corp. (c) | 1,006 | 41,055 | ||||||
Sungshin Cement Co., Ltd. (c) | 1,703 | 8,835 | ||||||
Sungwoo Hitech Co., Ltd. | 9,413 | 55,724 | ||||||
Suprema, Inc. (c) | 1,772 | 41,478 | ||||||
Synopex, Inc. (c) | 31,217 | 118,612 | ||||||
Taekwang Industrial Co., Ltd. | 566 | 669,068 | ||||||
Taeyoung Engineering & Construction Co., Ltd. | 47,955 | 472,397 | ||||||
Taihan Electric Wire Co., Ltd. (c) | 100,050 | 122,962 | ||||||
TBH Global Co., Ltd. (c) | 9,602 | 61,347 | ||||||
Tera Semicon Co., Ltd. | 5,610 | 104,474 | ||||||
TES Co., Ltd. | 18,001 | 495,665 | ||||||
Texcell-NetCom Co., Ltd. (c) | 15,387 | 344,291 | ||||||
Tongyang Life Insurance Co., Ltd. | 8,051 | 55,818 | ||||||
Tongyang, Inc. (b) | 142,986 | 244,145 | ||||||
Toptec Co., Ltd. (c) | 21,269 | 623,563 | ||||||
Tovis Co., Ltd. | 7,741 | 57,664 | ||||||
Value Added Technology Co., Ltd. | 3,758 | 141,026 | ||||||
Viatron Technologies, Inc. | 12,176 | 169,064 | ||||||
Vieworks Co., Ltd. | 7,107 | 263,037 | ||||||
ViroMed Co., Ltd. (c) | 8,460 | 1,754,067 | ||||||
Wave Electronics Co., Ltd. (c) | 6,959 | 187,375 | ||||||
Webzen, Inc. (c) | 12,500 | 376,442 | ||||||
WeMade Entertainment Co., Ltd. | 6,037 | 281,206 | ||||||
Whanin Pharmaceutical Co., Ltd. | 9,349 | 219,275 | ||||||
Wins Co., Ltd. | 6,997 | 86,322 | ||||||
WiSoL Co., Ltd. | 6,458 | 85,428 | ||||||
Wonik Holdings Co., Ltd. (c) | 109,486 | 763,187 | ||||||
WONIK IPS Co., Ltd. | 18,342 | 565,283 | ||||||
Woojeon Co., Ltd. (a) (c) | 7,674 | — | ||||||
Woongjin Thinkbig Co., Ltd. | 8,476 | 53,119 | ||||||
YG Entertainment, Inc. | 4,062 | 118,708 | ||||||
Youngone Corp. | 10,953 | 280,530 | ||||||
Yuanta Securities Korea Co., Ltd. (c) | 80,349 | 338,085 | ||||||
Yungjin Pharmaceutical Co., Ltd. (b) (c) | 57,836 | 446,562 | ||||||
|
| |||||||
106,013,970 | ||||||||
|
| |||||||
SPAIN — 1.4% |
| |||||||
Abengoa SA Class B (c) | 13,317,101 | 171,969 | ||||||
Almirall SA (b) | 37,220 | 438,983 | ||||||
Applus Services SA | 58,978 | 767,411 | ||||||
Axiare Patrimonio SOCIMI SA REIT | 34,462 | 700,169 | ||||||
Codere SA (c) | 31,280 | 349,690 | ||||||
Construcciones y Auxiliar de Ferrocarriles SA | 24,658 | 1,273,677 |
Security Description | Shares | Value | ||||||
Ence Energia y Celulosa SA | 56,780 | $ | 427,365 | |||||
Ercros SA | 69,527 | 363,579 | ||||||
Euskaltel SA (e) | 34,506 | 287,512 | ||||||
Faes Farma SA | 265,007 | 967,980 | ||||||
Fluidra SA | 38,658 | 657,052 | ||||||
Hispania Activos Inmobiliarios SOCIMI SA REIT | 50,807 | 1,079,741 | ||||||
Lar Espana Real Estate Socimi SA REIT | 27,495 | 329,694 | ||||||
Let’s GOWEX SA (a) (b) (c) | 9,561 | — | ||||||
Liberbank SA (c) | 683,870 | 374,103 | ||||||
Neinor Homes SA (b) (c) (e) | 26,515 | 497,621 | ||||||
Obrascon Huarte Lain SA (b) (c) | 52,931 | 225,432 | ||||||
Papeles y Cartones de Europa SA | 29,819 | 519,288 | ||||||
Parques Reunidos Servicios Centrales SAU (e) | 16,831 | 265,369 | ||||||
Pharma Mar SA (b) (c) | 192,117 | 389,381 | ||||||
Promotora de Informaciones SA Class A (b) (c) | 228,416 | 476,436 | ||||||
Sacyr SA | 134,248 | 358,443 | ||||||
Saeta Yield SA | 15,092 | 226,072 | ||||||
Talgo SA (b) (e) | 41,083 | 265,261 | ||||||
Tecnicas Reunidas SA (b) | 21,705 | 640,387 | ||||||
Telepizza Group SA (c) (e) | 36,073 | 237,350 | ||||||
Tubacex SA (b) (c) | 167,639 | 692,734 | ||||||
|
| |||||||
12,982,699 | ||||||||
|
| |||||||
SWEDEN — 2.9% |
| |||||||
AcadeMedia AB (c) (e) | 32,056 | 208,226 | ||||||
Acando AB | 96,203 | 340,021 | ||||||
AF AB Class B | 32,413 | 705,169 | ||||||
Alimak Group AB (e) | 21,989 | 333,453 | ||||||
Ambea AB (c) (e) | 19,920 | 142,952 | ||||||
Attendo AB (e) | 53,287 | 500,433 | ||||||
Avanza Bank Holding AB (b) | 11,058 | 581,236 | ||||||
Axactor AB (c) | 778,015 | 256,664 | ||||||
Bergman & Beving AB | 14,599 | 147,650 | ||||||
Betsson AB (c) | 55,450 | 417,921 | ||||||
Bilia AB Class A | 28,789 | 254,381 | ||||||
BioGaia AB Class B | 6,894 | 346,560 | ||||||
Biotage AB | 39,816 | 339,454 | ||||||
Bonava AB Class B | 41,568 | 568,813 | ||||||
Boozt AB (b) (c) (e) | 21,837 | 192,952 | ||||||
Bravida Holding AB (e) | 90,061 | 642,002 | ||||||
Bufab AB | 25,278 | 325,377 | ||||||
Bure Equity AB | 24,543 | 269,320 | ||||||
Byggmax Group AB (b) | 37,887 | 187,743 | ||||||
Capio AB (e) | 77,424 | 391,058 | ||||||
Cellavision AB | 20,704 | 339,183 | ||||||
Clas Ohlson AB Class B | 21,133 | 227,863 | ||||||
Cloetta AB Class B | 120,063 | 456,179 | ||||||
CLX Communications AB (c) (e) | 918 | 6,423 | ||||||
Coor Service Management Holding AB (e) | 47,677 | 380,856 | ||||||
D Carnegie & Co. AB (c) (f) | 13,810 | 203,156 | ||||||
D Carnegie & Co. AB (b) (c) (f) | 1,987 | 28,756 | ||||||
Duni AB | 18,384 | 253,760 | ||||||
Dustin Group AB (e) | 35,373 | 312,557 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Eltel AB (b) (c) (e) | 62,726 | $ | 194,736 | |||||
Fingerprint Cards AB Class B (b) (c) | 156,707 | 150,629 | ||||||
G5 Entertainment AB | 4,662 | 169,896 | ||||||
Granges AB | 40,459 | 473,201 | ||||||
Haldex AB (c) | 48,248 | 491,997 | ||||||
Hansa Medical AB (b) (c) | 15,362 | 432,898 | ||||||
Hemfosa Fastigheter AB | 62,188 | 752,214 | ||||||
HIQ International AB (c) | 35,089 | 299,573 | ||||||
Hoist Finance AB (e) | 28,322 | 259,385 | ||||||
Infant Bacterial Therapeutics AB (c) | 15 | 206 | ||||||
Investment AB Oresund | 16,948 | 258,628 | ||||||
INVISIO Communications AB | 30,375 | 224,508 | ||||||
Inwido AB | 33,786 | 300,955 | ||||||
KappAhl AB | 40,819 | 124,775 | ||||||
Karo Pharma AB (b) | 89,069 | 350,435 | ||||||
Klovern AB Class B (b) | 206,989 | 255,560 | ||||||
KNOW IT AB | 25,597 | 513,481 | ||||||
Kungsleden AB | 88,988 | 592,382 | ||||||
LeoVegas AB (e) | 70,539 | 598,859 | ||||||
Lindab International AB | 22,692 | 170,973 | ||||||
Medicover AB (c) | 39,599 | 293,158 | ||||||
Medivir AB Class B (b) (c) | 945 | 4,074 | ||||||
Mekonomen AB (b) | 10,388 | 176,879 | ||||||
Momentum Group AB Class B (c) | 21,629 | 258,263 | ||||||
Mycronic AB (b) | 33,306 | 424,736 | ||||||
New Wave Group AB Class B | 103,602 | 671,728 | ||||||
Nobia AB | 57,581 | 516,694 | ||||||
Nobina AB (e) | 53,251 | 342,404 | ||||||
Nolato AB Class B | 13,186 | 958,862 | ||||||
Opus Group AB | 16,370 | 12,021 | ||||||
Qliro Group AB (c) | 104,073 | 151,609 | ||||||
Ratos AB Class B | 60,498 | 235,063 | ||||||
RaySearch Laboratories AB (b) (c) | 15,420 | 226,472 | ||||||
Recipharm AB Class B (b) | 11,117 | 126,903 | ||||||
Sagax AB Class D | 30 | 115 | ||||||
SAS AB (b) (c) | 95,210 | 225,099 | ||||||
Scandi Standard AB | 31,621 | 216,727 | ||||||
Scandic Hotels Group AB (e) | 33,539 | 320,180 | ||||||
SkiStar AB | 11,775 | 235,365 | ||||||
Starbreeze AB (b) (c) | 51,093 | 58,232 | ||||||
Tethys Oil AB | 33,991 | 272,746 | ||||||
Thule Group AB (e) | 30,107 | 649,248 | ||||||
Tobii AB (b) (c) | 43,156 | 165,929 | ||||||
Troax Group AB | 6,872 | 193,651 | ||||||
Vitrolife AB | 9,245 | 652,409 | ||||||
Wihlborgs Fastigheter AB | 129,933 | 3,000,554 | ||||||
|
| |||||||
26,364,530 | ||||||||
|
| |||||||
SWITZERLAND — 2.2% |
| |||||||
APG SGA SA | 321 | 135,091 | ||||||
Arbonia AG (b) (c) | 22,038 | 402,741 | ||||||
Ascom Holding AG | 22,817 | 483,694 | ||||||
Autoneum Holding AG | 1,540 | 418,129 | ||||||
Bachem Holding AG Class B | 3,925 | 515,628 | ||||||
Basilea Pharmaceutica AG (c) | 9,379 | 650,340 |
Security Description | Shares | Value | ||||||
Bell Food Group AG | 886 | $ | 340,947 | |||||
Bobst Group SA | 3,006 | 331,803 | ||||||
Bossard Holding AG Class A | 2,166 | 443,333 | ||||||
Burckhardt Compression Holding AG | 1,499 | 477,125 | ||||||
Burkhalter Holding AG | 2,938 | 343,626 | ||||||
Comet Holding AG (c) | 3,679 | 507,899 | ||||||
Evolva Holding SA (b) (c) | 267,645 | 74,206 | ||||||
Gurit Holding AG (c) | 255 | 207,174 | ||||||
HBM Healthcare Investments AG Class A (c) | 3,180 | 478,195 | ||||||
HOCHDORF Holding AG (b) (c) | 950 | 281,250 | ||||||
Huber + Suhner AG | 6,804 | 385,105 | ||||||
Implenia AG | 8,932 | 706,557 | ||||||
Inficon Holding AG (c) | 1,019 | 625,170 | ||||||
Interroll Holding AG | 442 | 692,356 | ||||||
Intershop Holding AG | 272 | 142,590 | ||||||
Kardex AG (c) | 4,408 | 595,651 | ||||||
Komax Holding AG | 2,385 | 686,908 | ||||||
Kudelski SA (b) (c) | 42,637 | 445,249 | ||||||
LEM Holding SA | 292 | 484,837 | ||||||
Leonteq AG (c) | 3,944 | 224,465 | ||||||
Metall Zug AG | 63 | 216,776 | ||||||
Meyer Burger Technology AG (b) (c) | 256,306 | 296,026 | ||||||
Mobilezone Holding AG (b) | 19,673 | 251,870 | ||||||
Mobimo Holding AG (c) | 3,355 | 886,398 | ||||||
Newron Pharmaceuticals SpA (c) | 200 | 1,729 | ||||||
Orior AG | 6,225 | 512,899 | ||||||
Phoenix Mecano AG | 488 | 337,360 | ||||||
Resurs Holding AB (e) | 55,056 | 387,866 | ||||||
Rieter Holding AG (c) | 1,584 | 309,158 | ||||||
Santhera Pharmaceuticals Holding AG (b) (c) | 4,312 | 76,009 | ||||||
Schmolz + Bickenbach AG (c) | 200,004 | 154,765 | ||||||
Schweiter Technologies AG | 353 | 418,764 | ||||||
Siegfried Holding AG (c) | 1,876 | 630,819 | ||||||
Swissquote Group Holding SA | 5,971 | 361,652 | ||||||
u-blox Holding AG | 3,099 | 556,629 | ||||||
Valiant Holding AG | 7,176 | 848,291 | ||||||
Valora Holding AG | 5,283 | 1,804,032 | ||||||
Vaudoise Assurances Holding SA | 484 | 259,791 | ||||||
Vetropack Holding AG | 141 | 275,345 | ||||||
Ypsomed Holding AG (b) (c) | 2,009 | 306,091 | ||||||
Zehnder Group AG | 2,783 | 128,019 | ||||||
Zur Rose Group AG (c) | 2,808 | 319,038 | ||||||
|
| |||||||
20,419,396 | ||||||||
|
| |||||||
UNITED ARAB EMIRATES — 0.0% (g) |
| |||||||
Lamprell PLC (c) | 125,868 | 128,894 | ||||||
NMC Health PLC | 3 | 143 | ||||||
|
| |||||||
129,037 | ||||||||
|
| |||||||
UNITED KINGDOM — 8.5% |
| |||||||
888 Holdings PLC | 84,117 | 318,362 | ||||||
A.G. Barr PLC | 49,862 | 459,548 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
AA PLC | 370,411 | $ | 418,288 | |||||
Acacia Mining PLC | 90,594 | 181,605 | ||||||
Allied Minds PLC (c) | 93,111 | 137,147 | ||||||
Anglo Pacific Group PLC | 133,948 | 282,793 | ||||||
AO World PLC (b) (c) | 88,932 | 144,215 | ||||||
Arrow Global Group PLC | 95,758 | 470,153 | ||||||
Ascential PLC | 207,861 | 1,215,336 | ||||||
Assura PLC REIT | 1,143,062 | 950,868 | ||||||
AVEVA Group PLC | 34,095 | 914,002 | ||||||
Avon Rubber PLC | 18,362 | 327,129 | ||||||
Biffa PLC (e) | 151,834 | 425,986 | ||||||
Big Yellow Group PLC REIT | 62,818 | 751,673 | ||||||
Bovis Homes Group PLC | 76,327 | 1,219,545 | ||||||
Brewin Dolphin Holdings PLC | 118,321 | 572,301 | ||||||
Cairn Energy PLC (c) | 270,535 | 781,783 | ||||||
Capital & Regional PLC REIT | 370,198 | 280,429 | ||||||
Card Factory PLC | 107,720 | 285,748 | ||||||
Carillion PLC (a) (b) | 8,202 | — | ||||||
Chemring Group PLC | 109,150 | 306,231 | ||||||
Cineworld Group PLC | 30 | 99 | ||||||
Civitas Social Housing PLC REIT | 140,472 | 191,931 | ||||||
Clarkson PLC | 13,098 | 554,891 | ||||||
CMC Markets PLC (e) | 40,246 | 95,525 | ||||||
Coats Group PLC | 619,828 | 666,033 | ||||||
Computacenter PLC | 35,065 | 564,692 | ||||||
Connect Group PLC | 76,168 | 59,835 | ||||||
Costain Group PLC | 55,946 | 364,545 | ||||||
Countrywide PLC (c) | 7,515 | 11,132 | ||||||
Cranswick PLC | 23,470 | 936,351 | ||||||
Crest Nicholson Holdings PLC | 145,968 | 930,447 | ||||||
Dairy Crest Group PLC | 69,110 | 496,371 | ||||||
De La Rue PLC | 40,302 | 287,766 | ||||||
Debenhams PLC | 450,982 | 132,095 | ||||||
Devro PLC | 66,941 | 184,053 | ||||||
DFS Furniture PLC | 82,635 | 213,525 | ||||||
Dialight PLC (b) (c) | 13,424 | 94,533 | ||||||
Dignity PLC | 26,628 | 326,659 | ||||||
Diploma PLC | 51,824 | 829,492 | ||||||
Domino’s Pizza Group PLC | 286,854 | 1,329,928 | ||||||
Drax Group PLC | 224,708 | 865,595 | ||||||
Dunelm Group PLC | 58,326 | 431,190 | ||||||
EI Group PLC (c) | 466,265 | 752,188 | ||||||
Elementis PLC | 228,339 | 946,207 | ||||||
Empiric Student Property PLC REIT | 391,835 | 452,925 | ||||||
EnQuest PLC (c) | 527,448 | 214,572 | ||||||
Equiniti Group PLC (e) | 214,433 | 897,908 | ||||||
Essentra PLC | 115,639 | 687,482 | ||||||
esure Group PLC | 153,937 | 467,300 | ||||||
F&C Commercial Property Trust, Ltd. | 303,724 | 602,455 | ||||||
Fenner PLC | 178,393 | 1,524,021 | ||||||
Fidessa Group PLC | 20,467 | 1,052,262 | ||||||
Firstgroup PLC (c) | 562,746 | 648,114 | ||||||
Forterra PLC (e) | 109,843 | 456,100 | ||||||
Foxtons Group PLC | 9,778 | 11,152 | ||||||
Galliford Try PLC | 44,156 | 517,216 |
Security Description | Shares | Value | ||||||
Games Workshop Group PLC | 13,347 | $ | 431,569 | |||||
Genel Energy PLC (b) (c) | 25,134 | 59,233 | ||||||
Genus PLC | 36,236 | 1,184,382 | ||||||
Go-Ahead Group PLC | 18,911 | 465,307 | ||||||
Gocompare.Com Group PLC | 180,006 | 282,814 | ||||||
Grainger PLC | 184,115 | 746,419 | ||||||
Greene King PLC (b) | 6 | 40 | ||||||
Greggs PLC | 55,150 | 950,809 | ||||||
Gulf Keystone Petroleum, Ltd. (c) | 171,874 | 313,436 | ||||||
Halfords Group PLC | 92,577 | 423,367 | ||||||
Hansteen Holdings PLC REIT | 151,494 | 271,170 | ||||||
Helical PLC | 44,258 | 200,535 | ||||||
Hill & Smith Holdings PLC | 40,757 | 759,841 | ||||||
Hunting PLC (c) | 69,810 | 657,596 | ||||||
Huntsworth PLC | 1,886 | 2,513 | ||||||
Ibstock PLC (e) | 222,903 | 881,781 | ||||||
Indivior PLC (c) | 24 | 137 | ||||||
International Personal Finance PLC | 92,990 | 299,244 | ||||||
Interserve PLC (b) (c) | 77,662 | 87,864 | ||||||
ITE Group PLC | 303,952 | 666,012 | ||||||
J D Wetherspoon PLC | 92,793 | 1,482,637 | ||||||
Jackpotjoy PLC (c) | 44,172 | 503,152 | ||||||
JD Sports Fashion PLC | 9 | 42 | ||||||
John Laing Group PLC (e) | 263,725 | 996,655 | ||||||
John Menzies PLC | 30,267 | 266,640 | ||||||
Johnston Press PLC (c) | 374 | 48 | ||||||
Just Group PLC | 378,076 | 722,357 | ||||||
KCOM Group PLC | 244,080 | 315,346 | ||||||
Keller Group PLC | 60,123 | 733,763 | ||||||
Kier Group PLC (b) | 56,925 | 746,239 | ||||||
Laird PLC | 66,600 | 187,040 | ||||||
Lancashire Holdings, Ltd. | 109,954 | 894,612 | ||||||
Lb-shell PLC (c) | 571 | 2 | ||||||
LondonMetric Property PLC | 320,488 | 801,153 | ||||||
Lonmin PLC (c) | 109,500 | 89,245 | ||||||
Lookers PLC | 140,150 | 171,437 | ||||||
Luxfer Holdings PLC | 9,128 | 116,838 | ||||||
Marshalls PLC | 111,067 | 651,576 | ||||||
Marston’s PLC | 434,080 | 614,408 | ||||||
McBride PLC (c) (d) (f) | 4,089,696 | 5,737 | ||||||
McBride PLC (c) (f) | 157,773 | 350,135 | ||||||
McCarthy & Stone PLC (e) | 247,402 | 501,495 | ||||||
Medica Group PLC | 97,718 | 169,978 | ||||||
Mitchells & Butlers PLC | 114,437 | 400,367 | ||||||
Mitie Group PLC | 276,309 | 616,294 | ||||||
Moneysupermarket.com Group PLC | 27 | 109 | ||||||
Morgan Advanced Materials PLC | 191,648 | 855,999 | ||||||
Mothercare PLC (c) | 20,418 | 4,898 | ||||||
N Brown Group PLC | 65,907 | 163,182 | ||||||
NCC Group PLC | 137,745 | 363,463 | ||||||
NewRiver REIT PLC (b) | 151,524 | 612,167 | ||||||
Northgate PLC | 52,157 | 247,154 | ||||||
On the Beach Group PLC (e) | 38,465 | 288,679 | ||||||
OneSavings Bank PLC | 64,472 | 337,346 |
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SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
Ophir Energy PLC (c) | 215,402 | $ | 158,939 | |||||
Oxford Biomedica PLC (c) | 1,806,506 | 280,279 | ||||||
Oxford Instruments PLC | 25,181 | 261,750 | ||||||
Pagegroup PLC | 161,412 | 1,214,790 | ||||||
Paragon Banking Group PLC | 140,087 | 924,402 | ||||||
Pendragon PLC | 560,988 | 182,573 | ||||||
Petrofac, Ltd. | 152,094 | 1,081,296 | ||||||
Petropavlovsk PLC (c) | 1,016,493 | 101,527 | ||||||
Pets at Home Group PLC | 163,971 | 388,731 | ||||||
Photo-Me International PLC | 112,665 | 260,144 | ||||||
Picton Property Income, Ltd. | 187,321 | 221,518 | ||||||
Polypipe Group PLC | 121,904 | 595,104 | ||||||
Premier Foods PLC (c) | 67,169 | 35,617 | ||||||
Premier Oil PLC (c) | 375,646 | 364,654 | ||||||
Primary Health Properties PLC REIT (f) | 315,889 | 488,328 | ||||||
Primary Health Properties PLC (c) (d) (f) | 18,580 | 573 | ||||||
Provident Financial PLC (b) | 85,371 | 816,274 | ||||||
PZ Cussons PLC | 115,934 | 371,777 | ||||||
QinetiQ Group PLC | 301,347 | 872,091 | ||||||
Rank Group PLC | 79,906 | 231,470 | ||||||
Rathbone Brothers PLC | 26,693 | 913,657 | ||||||
RDI REIT PLC | 582,347 | 261,822 | ||||||
Regional REIT, Ltd. (e) | 161,645 | 224,942 | ||||||
Renewi PLC | 446,476 | 469,737 | ||||||
Renishaw PLC | 3 | 190 | ||||||
Restaurant Group PLC (b) | 92,069 | 327,794 | ||||||
RPC Group PLC | 12 | 130 | ||||||
RPS Group PLC | 217,572 | 778,286 | ||||||
Safestore Holdings PLC REIT | 84,809 | 584,143 | ||||||
Savills PLC | 60,050 | 826,797 | ||||||
Schroder Real Estate Investment Trust, Ltd. | 261,410 | 215,623 | ||||||
Senior PLC | 451,404 | 1,903,488 | ||||||
Serco Group PLC (c) | 600,826 | 743,384 | ||||||
SIG PLC | 282,210 | 535,631 | ||||||
Sirius Minerals PLC (b) (c) | 2,514,696 | 1,070,984 | ||||||
Soco International PLC | 107,647 | 138,625 | ||||||
Softcat PLC | 62,308 | 596,107 | ||||||
Spire Healthcare Group PLC (e) | 170,173 | 499,400 | ||||||
SSP Group PLC | 15 | 129 | ||||||
St Modwen Properties PLC | 76,655 | 416,578 | ||||||
Stagecoach Group PLC | 156,603 | 289,981 | ||||||
Stobart Group, Ltd. | 129,617 | 401,837 | ||||||
Stock Spirits Group PLC | 96,456 | 336,242 | ||||||
Superdry PLC | 25,765 | 564,194 | ||||||
SVG Capital PLC (c) (d) | 16,733 | 16,431 | ||||||
Ted Baker PLC | 11,502 | 403,375 | ||||||
Telecom Plus PLC | 10,496 | 179,925 | ||||||
Topps Tiles PLC | 112,968 | 123,608 | ||||||
TORM PLC (b) | 12,311 | 90,592 | ||||||
Trinity Mirror PLC | 10,795 | 12,039 | ||||||
Tyman PLC | 123,644 | 516,874 | ||||||
UK Commercial Property Trust, Ltd. (b) | 173,194 | 217,446 | ||||||
Ultra Electronics Holdings PLC | 41,231 | 799,911 | ||||||
Vectura Group PLC (c) | 303,594 | 330,697 |
Security Description | Shares | Value | ||||||
Virgin Money Holdings UK PLC | 171,706 | $ | 633,004 | |||||
Wincanton PLC | 159,364 | 489,587 | ||||||
Workspace Group PLC REIT | 48,117 | 669,585 | ||||||
ZPG PLC (e) | 151,652 | 714,798 | ||||||
|
| |||||||
78,283,404 | ||||||||
|
| |||||||
UNITED STATES — 0.9% | ||||||||
Adaptimmune Therapeutics PLC ADR (c) | 37,753 | 423,966 | ||||||
Alacer Gold Corp. (c) | 11,845 | 18,834 | ||||||
Argonaut Gold, Inc. (c) | 55,139 | 105,210 | ||||||
Avadel Pharmaceuticals PLC ADR (b) (c) | 22,140 | 161,401 | ||||||
Boart Longyear, Ltd. (c) | 36 | — | ||||||
BrightSphere Investment Group PLC | 63,497 | 1,000,713 | ||||||
Civeo Corp. (c) | 103,608 | 390,602 | ||||||
DHT Holdings, Inc. | 65,590 | 223,006 | ||||||
Ferroglobe Representation & Warranty Insurance Trust (a) (c) | 19,857 | — | ||||||
Globant SA (c) | 12,901 | 664,917 | ||||||
Golden Star Resources, Ltd. (b) (c) | 274,163 | 160,934 | ||||||
IMAX Corp. (c) | 38,172 | 732,902 | ||||||
MDC Partners, Inc. Class A (c) | 32,851 | 236,527 | ||||||
Mimecast, Ltd. (c) | 19,911 | 705,447 | ||||||
Mitel Networks Corp. (c) | 41,370 | 383,914 | ||||||
Nordic American Tankers, Ltd. | 65,939 | 127,922 | ||||||
Ormat Technologies, Inc. | 1 | 44 | ||||||
Oxford Immunotec Global PLC (b) (c) | 19,746 | 245,838 | ||||||
REC Silicon ASA (c) | 749,396 | 142,798 | ||||||
Reliance Worldwide Corp., Ltd. (b) | 288,753 | 978,977 | ||||||
Stratasys, Ltd. (b) (c) | 33,616 | 678,371 | ||||||
Tahoe Resources, Inc. | 175,510 | 823,607 | ||||||
Tucows, Inc. Class A (b) (c) | 8,200 | 459,200 | ||||||
Vail Resorts, Inc. | 24 | 5,321 | ||||||
|
| |||||||
8,670,451 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 914,361,104 | |||||||
|
| |||||||
WARRANTS — 0.0% (g) | ||||||||
AUSTRALIA — 0.0% (g) | ||||||||
Boart Longyear, Ltd. | 50 | 0 | ||||||
Westgold Resources, Ltd. | 19,337 | 2,893 | ||||||
|
| |||||||
2,893 | ||||||||
|
| |||||||
FRANCE — 0.0% (g) | ||||||||
CGG SA (expiring 2/21/22) (b) (c) | 533 | 216 | ||||||
CGG SA (expiring 2/21/23) (c) | 1,729 | 300 | ||||||
|
| |||||||
516 | ||||||||
|
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140
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Security Description | Shares | Value | ||||||
SINGAPORE — 0.0% (g) | ||||||||
Ezion Holdings, Ltd. | 115,305 | $ | 2,638 | |||||
|
| |||||||
TOTAL WARRANTS | 6,047 | |||||||
|
| |||||||
RIGHTS — 0.0% (g) | ||||||||
ITALY — 0.0% (g) | ||||||||
Immobiliare Grande Distribuzione SIIQ SpA | 16,859 | 17,927 | ||||||
|
| |||||||
SWEDEN — 0.0% (g) | ||||||||
Starbreeze AB (expiring 4/10/18) (b) (c) | 51,093 | 854 | ||||||
|
| |||||||
UNITED KINGDOM — 0.0% (g) | ||||||||
Galliford Try PLC | 14,719 | 57,812 | ||||||
Provident Financial PLC | 60,470 | 314,710 | ||||||
|
| |||||||
372,522 | ||||||||
|
| |||||||
TOTAL RIGHTS | 391,303 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 10.6% |
| |||||||
State Street Institutional | 1,510,725 | 1,510,725 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio (h) (j) | 95,964,387 | 95,964,387 | ||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS |
| 97,475,112 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 109.6% |
| 1,012,233,566 | ||||||
|
| |||||||
LIABILITIES IN EXCESS OF OTHER |
| (88,411,858 | ) | |||||
|
| |||||||
NET ASSETS — 100.0% |
| $ | 923,821,708 | |||||
|
|
(a) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of March 31, 2018, total aggregate fair value of the securities is $0, representing 0.0% of the Fund’s net assets. |
(b) | All or a portion of the shares of the security are on loan at March 31, 2018. |
(c) | Non-income producing security. |
(d) | Fair valued as determined in good faith by the Trust’s Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. As of March 31, 2018, total aggregate fair value of securities is $754,522, representing less than 0.05% of net assets. |
(e) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.1% of net assets as of March 31, 2018, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(f) | Reflects separate holdings of the issuer’s common stock traded on different securities exchanges. |
(g) | Amount is less than 0.05% of net assets. |
(h) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended March 31, 2018 are shown in the Affiliate Table below. |
(i) | The rate shown is the annualized seven-day yield at March 31, 2018. |
(j) | Investment of cash collateral for securities loaned. |
ADR = American Depositary Receipt
REIT = Real Estate Investment Trust
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of March 31, 2018.
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
ASSETS: | ||||||||||||||||
INVESTMENTS: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Australia | $ | 58,349,902 | $ | 0 | (a) | $ | 0 | (b) | $ | 58,349,902 | ||||||
Austria | 2,903,419 | — | — | 2,903,419 | ||||||||||||
Belgium | 12,689,606 | — | — | 12,689,606 | ||||||||||||
Canada | 72,498,781 | 56,380 | 0 | (b) | 72,555,161 | |||||||||||
China | 2,677,820 | — | — | 2,677,820 | ||||||||||||
Denmark | 6,131,667 | — | 0 | (b) | 6,131,667 | |||||||||||
Finland | 6,544,251 | — | 0 | (b) | 6,544,251 |
141
Table of Contents
SPDR S&P INTERNATIONAL SMALL CAP ETF
SCHEDULE OF INVESTMENTS
March 31, 2018 (Unaudited)
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
France | $ | 19,284,098 | $ | — | $ | — | $ | 19,284,098 | ||||||||
Germany | 29,930,051 | — | — | 29,930,051 | ||||||||||||
Greece | — | — | 0 | (b) | 0 | |||||||||||
Hong Kong | 23,335,653 | 213,157 | 0 | (b) | 23,548,810 | |||||||||||
India | 186,488 | — | — | 186,488 | ||||||||||||
Ireland | 7,055,211 | — | — | 7,055,211 | ||||||||||||
Israel | 16,653,485 | — | — | 16,653,485 | ||||||||||||
Italy | 11,460,844 | — | — | 11,460,844 | ||||||||||||
Japan | 338,474,876 | — | 0 | (b) | 338,474,876 | |||||||||||
Liechtenstein | 282,131 | — | — | 282,131 | ||||||||||||
Luxembourg | 539,588 | — | — | 539,588 | ||||||||||||
Macau | 477,938 | — | — | 477,938 | ||||||||||||
Malta | 381,645 | — | — | 381,645 | ||||||||||||
Netherlands | 13,185,764 | — | — | 13,185,764 | ||||||||||||
New Zealand | 10,130,154 | — | — | 10,130,154 | ||||||||||||
Norway | 12,153,056 | — | — | 12,153,056 | ||||||||||||
Peru | 256,202 | — | — | 256,202 | ||||||||||||
Portugal | 2,100,561 | — | — | 2,100,561 | ||||||||||||
Singapore | 13,078,293 | 271,380 | 0 | (b) | 13,349,673 | |||||||||||
South Africa | 195,216 | — | — | 195,216 | ||||||||||||
South Korea | 105,825,744 | 188,226 | 0 | (b) | 106,013,970 | |||||||||||
Spain | 12,982,699 | — | 0 | (b) | 12,982,699 | |||||||||||
Sweden | 26,364,530 | — | — | 26,364,530 | ||||||||||||
Switzerland | 20,419,396 | — | — | 20,419,396 | ||||||||||||
United Arab Emirates | 129,037 | — | — | 129,037 | ||||||||||||
United Kingdom | 78,260,663 | 22,741 | 0 | (b) | 78,283,404 | |||||||||||
United States | 8,670,451 | — | 0 | (b) | 8,670,451 | |||||||||||
Warrants | ||||||||||||||||
Australia | 2,893 | — | — | 2,893 | ||||||||||||
France | 516 | — | — | 516 | ||||||||||||
Singapore | — | 2,638 | — | 2,638 | ||||||||||||
Rights | ||||||||||||||||
Italy | 17,927 | — | — | 17,927 | ||||||||||||
Sweden | 854 | — | — | 854 | ||||||||||||
United Kingdom | 372,522 | — | — | 372,522 | ||||||||||||
Short-Term Investments | 97,475,112 | — | — | 97,475,112 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
TOTAL INVESTMENTS | $ | 1,011,479,044 | $ | 754,522 | $ | 0 | $ | 1,012,233,566 | ||||||||
|
|
|
|
|
|
|
|
(a) | Fund held a Level 2 security that was valued at $0 at March 31, 2018. |
(b) | Fund held Level 3 securities that were valued at $0 at March 31, 2018. |
Affiliate Table
Number of Shares Held at 9/30/17 | Value at 9/30/17 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation/ Depreciation | Number of Shares Held at 3/31/18 | Value at 3/31/18 | Dividend Income | Capital Gains Distributions | |||||||||||||||||||||||||||||||
State Street Institutional U.S. Government Money Market Fund, Class G Shares | 73,500 | $ | 73,500 | $ | 71,569,182 | $ | 70,131,957 | $ | — | $ | — | 1,510,725 | $ | 1,510,725 | $ | 24,500 | $ | — | ||||||||||||||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 66,029,680 | 66,029,680 | 101,110,821 | 71,176,114 | — | — | 95,964,387 | 95,964,387 | 1,512,147 | — | ||||||||||||||||||||||||||||||
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|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Total | $ | 66,103,180 | $ | 172,680,003 | $ | 141,308,071 | $ | — | $ | — | $ | 97,475,112 | $ | 1,536,647 | $ | — | ||||||||||||||||||||||||
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142
Table of Contents
(b) | Not applicable to the registrant. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to the registrant.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to the registrant.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to the registrant.
Item 10. Submission of Matters to a Vote of Security Holders.
The registrant has not adopted any material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board.
Item 11. Controls and Procedures.
(a) Within 90 days of the filing date of this Form N-CSR, Ellen M. Needham, the registrant’s President and Principal Executive Officer, and Bruce S. Rosenberg, the registrant’s Treasurer and Principal Financial Officer, reviewed the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) and evaluated their effectiveness. Based on their review, Ms. Needham and Mr. Rosenberg determined that the disclosure controls and procedures adequately ensure that information required to be disclosed by the registrant in its periodic reports is recorded, processed, summarized and reported within the time periods required by the U.S. Securities and Exchange Commission.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
(a) | Not applicable. |
(b) | Not applicable. |
Item 13. Exhibits.
(a)(1) Not applicable to the registrant; this Form N-CSR is a Semi-Annual Report.
Table of Contents
(a)(2) Separate certifications required by Rule 30a-2 under the 1940 Act for each principal executive officer and principal financial officer of the registrant are attached.
(a)(3) Not applicable to the registrant.
(a)(4) Not applicable to the registrant.
(b) A single certification required by Rule 30a-2(b) under the 1940 Act, Rule 13a-14(b) or Rule 15d-14(b) under the Securities Exchange Act of 1934, as amended, and Section 1350 of Chapter 63 of Title 18 of the United States Code for the principal executive officer and principal financial officer of the registrant is attached.
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SPDR® Index Shares Funds | ||
By: | /s/ Ellen M. Needham | |
Ellen M. Needham | ||
President and Principal Executive Officer | ||
Date: | June 1, 2018 |
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Ellen M. Needham | |
Ellen M. Needham | ||
President and Principal Executive Officer | ||
Date: | June 1, 2018 | |
By: | /s/ Bruce S. Rosenberg | |
Bruce S. Rosenberg | ||
Treasurer and Principal Financial Officer | ||
Date: | June 1, 2018 |