# EDGAR Filing Document

**Accession Number:** 0001516212
**File Stem:** 0001410368-25-011150
**Filing Date:** 2025-9
**Character Count:** 133657
**Document Hash:** 4188b01fb5447ce15ce0c019f1f232a5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-011150.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0001410368-25-011150

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SSGA Active Trust
- **CENTRAL INDEX KEY:** 0001516212

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22542
- **FILM NUMBER:** 251343178

**BUSINESS ADDRESS:**
- **STREET 1:** ONE CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02114
- **BUSINESS PHONE:** 6176643920

**MAIL ADDRESS:**
- **STREET 1:** ONE CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02114

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SSgA Active Trust
- **DATE OF NAME CHANGE:** 20141208

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SSgA Active ETF Trust
- **DATE OF NAME CHANGE:** 20110322

## Series and Classes Contracts Data

### SPDR Galaxy Digital Asset Ecosystem ETF (Series ID: S000087748)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000253656 | SPDR Galaxy Digital Asset Ecosystem ETF | DECO            |

## Nport-Ex

## Quarterly Report
July 31, 2025

## SSGA Active Trust

---

| |
|:---|
| SPDR Galaxy Transformative Tech Accelerators ETF |
| SPDR Galaxy Digital Asset Ecosystem ETF |
| SPDR Galaxy Hedged Digital Asset Ecosystem ETF |
| SPDR Bridgewater All Weather ETF |
| SPDR SSGA IG Public & Private Credit 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.ssga.com*. Please read the prospectus carefully before you invest.**<br> ![](img6e7044ed1.jpg)

------

**TABLE OF CONTENTS** (Unaudited)

---

| | |
|:---|:---|
| **[(Consolidated) Schedules of Investments (Unaudited)](#xx_bb6f646f-255f-44e0-8894-07c240aff383_1)** |  |
| &nbsp;&nbsp;&nbsp;[SPDR Galaxy Transformative Tech Accelerators ETF (TEKX)](#xx_bb6f646f-255f-44e0-8894-07c240aff383_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;[SPDR Galaxy Digital Asset Ecosystem ETF (DECO)](#xx_cbb73ac1-5d67-4ff0-8d36-fad320aa5ec5_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;[SPDR Galaxy Hedged Digital Asset Ecosystem ETF (HECO)](#xx_92d5b551-a415-4205-9983-67aac1410f1c_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| &nbsp;&nbsp;&nbsp;[SPDR Bridgewater All Weather ETF (ALLW)](#xx_dbe146d3-d387-49ae-a4ca-16b449f42963_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA IG Public & Private Credit ETF (PRIV)](#xx_ce13a67d-426b-4f8f-af21-016aa86873c3_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11 |
| **[Notes to Schedules of Investments (Unaudited)](#xx_235da676-48f8-4abb-98ba-ed5ba6fd1689_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;18 |

---

**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.ssga.com*. Please read the prospectus carefully before you invest.**

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR GALAXY TRANSFORMATIVE TECH ACCELERATORS ETF

#### SCHEDULE OF INVESTMENTS

#### July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.2%** | **COMMON STOCKS — 99.2%** | **COMMON STOCKS — 99.2%** |
| **CAPITAL MARKETS — 4.7%** | **CAPITAL MARKETS — 4.7%** | **CAPITAL MARKETS — 4.7%** |
| Coinbase Global, Inc. Class A (a) | 122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46086 |
| Etoro Group Ltd. Class A (a) | 757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45390 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91476 |
| **ELECTRIC UTILITIES — 5.3%** | **ELECTRIC UTILITIES — 5.3%** | **ELECTRIC UTILITIES — 5.3%** |
| NRG Energy, Inc. | 626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104667 |
| **ELECTRICAL EQUIPMENT — 13.9%** | **ELECTRICAL EQUIPMENT — 13.9%** | **ELECTRICAL EQUIPMENT — 13.9%** |
| Eaton Corp. PLC | &nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35394 |
| Hubbell, Inc. | 186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81371 |
| nVent Electric PLC | 577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45249 |
| Schneider Electric SE | 201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52510 |
| Vertiv Holdings Co. Class A | 402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58531 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273055 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.2%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.2%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.2%** |
| Amphenol Corp. Class A | 197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20982 |
| Coherent Corp. (a) | 386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41534 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62516 |
| **FINANCIAL SERVICES — 5.4%** | **FINANCIAL SERVICES — 5.4%** | **FINANCIAL SERVICES — 5.4%** |
| Mastercard, Inc. Class A | &nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49283 |
| Visa, Inc. Class A | 166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57348 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106631 |
| **INDEPENDENT POWER & RENEWABLE ELECTRICITY PRODUCERS — 2.4%** | **INDEPENDENT POWER & RENEWABLE ELECTRICITY PRODUCERS — 2.4%** | **INDEPENDENT POWER & RENEWABLE ELECTRICITY PRODUCERS — 2.4%** |
| Vistra Corp. | 227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47339 |
| **INTERACTIVE MEDIA & SERVICES — 3.7%** | **INTERACTIVE MEDIA & SERVICES — 3.7%** | **INTERACTIVE MEDIA & SERVICES — 3.7%** |
| Alphabet, Inc. Class A | 378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72538 |
| **METALS & MINING — 1.8%** | **METALS & MINING — 1.8%** | **METALS & MINING — 1.8%** |
| Freeport-McMoRan, Inc. | 858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34526 |
| **MULTI-UTILITIES — 3.0%** | **MULTI-UTILITIES — 3.0%** | **MULTI-UTILITIES — 3.0%** |
| Public Service Enterprise Group, Inc. | 664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59621 |
| **OIL, GAS & CONSUMABLE FUELS — 2.7%** | **OIL, GAS & CONSUMABLE FUELS — 2.7%** | **OIL, GAS & CONSUMABLE FUELS — 2.7%** |
| Exxon Mobil Corp. | 470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52471 |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT — 1.5%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT — 1.5%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT — 1.5%** |
| Landbridge Co. LLC Class A | 511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28963 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 2.9%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 2.9%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 2.9%** |
| Lam Research Corp. | 284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26935 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29719 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56654 |
| **SOFTWARE — 44.2%** | **SOFTWARE — 44.2%** | **SOFTWARE — 44.2%** |
| Bitfarms Ltd. (a) | 64824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81678 |
| Cipher Mining, Inc. (a) | 16882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92176 |
| Core Scientific, Inc. (a) | 19430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263082 |
| Hut 8 Corp. (a) | &nbsp;&nbsp;1829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38830 |
| Iren, Ltd. (a) | &nbsp;&nbsp;9488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152852 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69888 |
| MicroStrategy, Inc. Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31345 |
| Riot Platforms, Inc. (a) | 10480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140537 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870388 |
| **SPECIALIZED REITs — 2.8%** | **SPECIALIZED REITs — 2.8%** | **SPECIALIZED REITs — 2.8%** |
| Equinix, Inc. REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55747 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 1.7%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 1.7%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 1.7%** |
| Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34151 |
| **TOTAL COMMON STOCKS<br>(Cost $1,600,161)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950743 |
| **SHORT-TERM INVESTMENT — 0.8%** | **SHORT-TERM INVESTMENT — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 4.29% (b) (c)<br>(Cost $16,297) | 16297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16297 |
| **TOTAL INVESTMENTS — 100.0%<br>(Cost $1,616,458)<br>** | **TOTAL INVESTMENTS — 100.0%<br>(Cost $1,616,458)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;1967040 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0% <sup>\*</sup><br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0% <sup>\*</sup><br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | &nbsp;&nbsp;$1967222 |

---

(a) Non-income producing security.

(b) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the period ended July 31, 2025 are shown
in the Affiliate Table below.

(c) The rate shown is the annualized seven-day yield at July 31, 2025.

\* Amount is less than 0.05% of net assets.

ADR American Depositary Receipt <br> REIT Real Estate Investment Trust

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR GALAXY TRANSFORMATIVE TECH ACCELERATORS ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of July 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $1950743 | $— | $— | $1950743 |
| Short-Term Investment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16297 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16297 |
| **TOTAL INVESTMENTS<br>**  | $1967040 | $— | $— | $1967040 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 10/31/24** | **Value at<br>10/31/24** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 7/31/25** | **Value at<br>7/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 23313 | $23313 | $620969 | $627985 | $— | $— | 16297 | $16297 | $1123 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR GALAXY DIGITAL ASSET ECOSYSTEM ETF

#### CONSOLIDATED SCHEDULE OF INVESTMENTS

#### July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 80.4%** | **COMMON STOCKS — 80.4%** | **COMMON STOCKS — 80.4%** |
| **BANKS — 3.8%** | **BANKS — 3.8%** | **BANKS — 3.8%** |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;1328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$393407 |
| **CAPITAL MARKETS — 11.6%** | **CAPITAL MARKETS — 11.6%** | **CAPITAL MARKETS — 11.6%** |
| Blackrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254382 |
| Coinbase Global, Inc. Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261032 |
| Etoro Group Ltd. Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;4285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256929 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;1924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274093 |
| Robinhood Markets, Inc. Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;1508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155399 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1201835 |
| **ELECTRICAL EQUIPMENT — 4.1%** | **ELECTRICAL EQUIPMENT — 4.1%** | **ELECTRICAL EQUIPMENT — 4.1%** |
| Vertiv Holdings Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;2919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425006 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.3%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.3%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.3%** |
| Coherent Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;3209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345288 |
| **FINANCIAL SERVICES — 7.5%** | **FINANCIAL SERVICES — 7.5%** | **FINANCIAL SERVICES — 7.5%** |
| Block, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120835 |
| Mastercard, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334217 |
| Visa, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320596 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775648 |
| **INTERACTIVE MEDIA & SERVICES — 5.2%** | **INTERACTIVE MEDIA & SERVICES — 5.2%** | **INTERACTIVE MEDIA & SERVICES — 5.2%** |
| Alphabet, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;2156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413737 |
| Meta Platforms, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129164 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542901 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 4.1%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 4.1%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 4.1%** |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134578 |
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;1211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292602 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427180 |
| **SOFTWARE — 38.3%** | **SOFTWARE — 38.3%** | **SOFTWARE — 38.3%** |
| Bitfarms Ltd. (a) | 394170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496654 |
| Cipher Mining, Inc. (a) | &nbsp;&nbsp;90466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493944 |
| Cleanspark, Inc. (a) | &nbsp;&nbsp;25225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286808 |
| Core Scientific, Inc. (a) | 119737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1621239 |
| Iren, Ltd. (a) | &nbsp;&nbsp;17826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287177 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| Riot Platforms, Inc. (a) | &nbsp;&nbsp;59072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$792156 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3977978 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 2.5%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 2.5%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 2.5%** |
| Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266051 |
| **TOTAL COMMON STOCKS<br>(Cost $6,275,689)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8355294 |
| **MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS — 16.7%** | **MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS — 16.7%** | **MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS — 16.7%** |
| iShares Bitcoin Trust ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;24175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603286 |
| iShares Ethereum Trust ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137025 |
| **TOTAL MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS<br>(Cost $1,465,779)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1740311 |
| **SHORT-TERM INVESTMENT — 2.9%** | **SHORT-TERM INVESTMENT — 2.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 4.29% (b) (c)<br>(Cost $302,355) | 302355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302355 |
| **TOTAL INVESTMENTS — 100.0%<br>(Cost $8,043,823)<br>** | **TOTAL INVESTMENTS — 100.0%<br>(Cost $8,043,823)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;10397960 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% <sup>\*</sup><br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% <sup>\*</sup><br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2630) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | &nbsp;&nbsp;&nbsp;$10395330 |

---

(a) Non-income producing security.

(b) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the period ended July 31, 2025 are shown
in the Affiliate Table below.

(c) The rate shown is the annualized seven-day yield at July 31, 2025.

\* Amount is less than 0.05% of net assets.

ADR American Depositary Receipt

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of July 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| &nbsp;&nbsp;$8355294 | $— | $— | &nbsp;&nbsp;$8355294 |
| Mutual Funds and Exchange Traded Products<br>| &nbsp;&nbsp;&nbsp;&nbsp;1740311 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1740311 |
| Short-Term Investment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302355 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302355 |
| **TOTAL INVESTMENTS<br>**  | $10397960 | $— | $— | $10397960 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR GALAXY DIGITAL ASSET ECOSYSTEM ETF

#### CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 10/31/24** | **Value at<br>10/31/24** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 7/31/25** | **Value at<br>7/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 71452 | $71452 | $2362872 | $2131969 | $— | $— | 302355 | $302355 | $5827 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR GALAXY HEDGED DIGITAL ASSET ECOSYSTEM ETF

#### CONSOLIDATED SCHEDULE OF INVESTMENTS

#### July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 84.8%** | **COMMON STOCKS — 84.8%** | **COMMON STOCKS — 84.8%** |
| **BANKS — 4.2%** | **BANKS — 4.2%** | **BANKS — 4.2%** |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;10161 | &nbsp;&nbsp;&nbsp;&nbsp;$3010095 |
| **CAPITAL MARKETS — 12.1%** | **CAPITAL MARKETS — 12.1%** | **CAPITAL MARKETS — 12.1%** |
| Blackrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1823811 |
| Coinbase Global, Inc. Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1634190 |
| Etoro Group Ltd. Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;30849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1849706 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;14692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093022 |
| Robinhood Markets, Inc. Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;11160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150038 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8550767 |
| **ELECTRICAL EQUIPMENT — 4.5%** | **ELECTRICAL EQUIPMENT — 4.5%** | **ELECTRICAL EQUIPMENT — 4.5%** |
| Vertiv Holdings Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;21856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3182234 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.4%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.4%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.4%** |
| Coherent Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;22517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2422829 |
| **FINANCIAL SERVICES — 8.3%** | **FINANCIAL SERVICES — 8.3%** | **FINANCIAL SERVICES — 8.3%** |
| Block, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;11076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855731 |
| Mastercard, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2571774 |
| Visa, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2454219 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5881724 |
| **INTERACTIVE MEDIA & SERVICES — 5.5%** | **INTERACTIVE MEDIA & SERVICES — 5.5%** | **INTERACTIVE MEDIA & SERVICES — 5.5%** |
| Alphabet, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;15283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932807 |
| Meta Platforms, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969894 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3902701 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 4.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 4.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 4.2%** |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933605 |
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077449 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3011054 |
| **SOFTWARE — 40.0%** | **SOFTWARE — 40.0%** | **SOFTWARE — 40.0%** |
| Bitfarms Ltd. (a) | 2690097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3389522 |
| Cipher Mining, Inc. (a) | &nbsp;&nbsp;&nbsp;652373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3561957 |
| Cleanspark, Inc. (a) | &nbsp;&nbsp;&nbsp;165984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1887238 |
| Core Scientific, Inc. (a) | &nbsp;&nbsp;&nbsp;898334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12163442 |
| Iren, Ltd. (a) | &nbsp;&nbsp;&nbsp;110422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1778899 |
| Riot Platforms, Inc. (a) | &nbsp;&nbsp;&nbsp;416073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5579539 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28360597 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 2.6%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 2.6%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 2.6%** |
| Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817739 |
| **TOTAL COMMON STOCKS<br>(Cost $46,494,957)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60139740 |
| **MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS — 16.6%** | **MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS — 16.6%** | **MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS — 16.6%** |
| iShares Bitcoin Trust ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;163172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10821567 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| iShares Ethereum Trust ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;33045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$934182 |
| **TOTAL MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS<br>(Cost $9,737,878)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11755749 |
| **PUT OPTIONS PURCHASED — 0.2%** | **PUT OPTIONS PURCHASED — 0.2%** | **PUT OPTIONS PURCHASED — 0.2%** |
| Alphabet, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;15200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24092 |
| Block, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850 |
| Cleanspark, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 |
| Cleanspark, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38250 |
| Coherent Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;20300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9135 |
| Coinbase Global, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3042 |
| Etoro Group, Ltd.<br>| &nbsp;&nbsp;&nbsp;&nbsp;27900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17437 |
| Iren, Ltd.<br>| &nbsp;&nbsp;110400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104 |
| iShares Bitcoin Trust ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;25800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10062 |
| JPMorgan Chase & Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1820 |
| Lam Research Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232 |
| Meta Plaforms, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 |
| Morgan Stanley<br>| &nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518 |
| Riot Platforms, Inc.<br>| &nbsp;&nbsp;271000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13550 |
| Robinhood Markets, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20590 |
| Taiwan Semiconductor Manufacturing Co. Ltd.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194 |
| Vertiv Holdings Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;19700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4039 |
| Western Digital Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6006 |
| **TOTAL PURCHASED OPTIONS<br>(Cost $730,939)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164328 |
| **SHORT-TERM INVESTMENT — 0.5%** | **SHORT-TERM INVESTMENT — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 4.29% (b) (c)<br>(Cost $349,707) | 349707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349707 |
| **TOTAL INVESTMENTS — 102.1%<br>(Cost $57,313,481)<br>** | **TOTAL INVESTMENTS — 102.1%<br>(Cost $57,313,481)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;72409524 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (2.1)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (2.1)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;(1468313) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | &nbsp;&nbsp;&nbsp;$70941211 |

---

(a) Non-income producing security.

(b) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the period ended July 31, 2025 are shown
in the Affiliate Table below.

(c) The rate shown is the annualized seven-day yield at July 31, 2025.

ADR American Depositary Receipt

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR GALAXY HEDGED DIGITAL ASSET ECOSYSTEM ETF

#### CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

The Fund had the following Written Call Options contracts at July 31, 2025 :

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Strike<br> Price** | **Expiration<br> Date** | **Number of<br> Contracts** | **Notional<br> Amount** | **Market<br> Value** | **Premiums<br> Received** | **Unrealized<br> Appreciation/<br> Depreciation** |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 100 | 08/15/2025 | (88) | USD (880000) | &nbsp;&nbsp;&nbsp;&nbsp;$(8228) | &nbsp;&nbsp;$(19093) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10865 |
| Vertiv Holdings Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 140 | 08/15/2025 | (197) | USD (2758000) | &nbsp;&nbsp;&nbsp;&nbsp; (179763) | &nbsp;&nbsp;&nbsp;&nbsp;(75433) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104330) |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 145 | 08/15/2025 | (132) | USD (1914000) | &nbsp;&nbsp;&nbsp;&nbsp; (23826) | &nbsp;&nbsp;&nbsp;&nbsp;(21714) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2112) |
| Riot Platforms, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 13 | 08/15/2025 | (2710) | USD (3523000) | &nbsp;&nbsp;&nbsp;&nbsp; (322490) | &nbsp;&nbsp;&nbsp;&nbsp;(73036) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(249454) |
| Coherent Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 95 | 08/15/2025 | (203) | USD (1928500) | &nbsp;&nbsp;&nbsp;&nbsp; (293335) | &nbsp;&nbsp;&nbsp;&nbsp;(49435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(243900) |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 295 | 08/15/2025 | (91) | USD (2684500) | &nbsp;&nbsp;&nbsp;&nbsp; (54372) | &nbsp;&nbsp;&nbsp;&nbsp;(27488) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26884) |
| Taiwan Semiconductor<br> Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 240 | 08/15/2025 | (77) | USD (1848000) | &nbsp;&nbsp;&nbsp;&nbsp; (59098) | &nbsp;&nbsp;&nbsp;&nbsp;(23757) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35341) |
| Coinbase Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 380 | 08/15/2025 | (39) | USD (1482000) | &nbsp;&nbsp;&nbsp;&nbsp; (77513) | &nbsp;&nbsp;&nbsp;&nbsp;(39248) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38265) |
| Etoro Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 80 | 08/15/2025 | (279) | USD (2232000) | &nbsp;&nbsp;&nbsp;&nbsp; (18833) | &nbsp;&nbsp;&nbsp;&nbsp;(68401) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49568 |
| Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 70 | 08/15/2025 | (231) | USD (1617000) | &nbsp;&nbsp;&nbsp;&nbsp; (209632) | &nbsp;&nbsp;&nbsp;&nbsp;(18340) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(191292) |
| Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 75 | 08/15/2025 | (100) | USD (750000) | &nbsp;&nbsp;&nbsp;&nbsp; (56250) | &nbsp;&nbsp;&nbsp;&nbsp;(18245) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38005) |
| Iren, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 14 | 08/15/2025 | (1104) | USD (1545600) | &nbsp;&nbsp;&nbsp;&nbsp; (277656) | &nbsp;&nbsp;&nbsp;&nbsp;(50610) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(227046) |
| Meta Platforms, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 745 | 08/15/2025 | (11) | USD (819500) | &nbsp;&nbsp;&nbsp;&nbsp; (40837) | &nbsp;&nbsp;&nbsp;&nbsp;(18749) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22088) |
| Cleanspark, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 12 | 08/15/2025 | (750) | USD (900000) | &nbsp;&nbsp;&nbsp;&nbsp; (40875) | &nbsp;&nbsp;&nbsp;&nbsp;(19838) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21037) |
| Cleanspark, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 13 | 08/15/2025 | (750) | USD (975000) | &nbsp;&nbsp;&nbsp;&nbsp; (22875) | &nbsp;&nbsp;&nbsp;&nbsp;(15338) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7537) |
| Core Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 20 | 08/15/2025 | (812) | USD (1624000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2842) | &nbsp;&nbsp;&nbsp;(109986) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107144 |
| iShares Bitcoin Trust ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 80 | 08/15/2025 | (258) | USD (2064000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1806) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7374) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5568 |
| Robinhood Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 130 | 08/15/2025 | (111) | USD (1443000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5383) | &nbsp;&nbsp;&nbsp;&nbsp;(29247) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23864 |
| Alphabet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A | USD 208 | 08/15/2025 | (152) | USD (3154000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9500) | &nbsp;&nbsp;&nbsp;&nbsp;(15638) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6138 |
|  |  |  |  |  |  | $(1705114) | $(700970) | $(1004144) |

---

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of July 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $60139740 | $— | $— | $60139740 |
| Mutual Funds and Exchange Traded Products<br>| &nbsp;&nbsp;&nbsp;11755749 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;11755749 |
| Put Options Purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164328 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164328 |
| Short-Term Investment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349707 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349707 |
| **TOTAL INVESTMENTS<br>**  | $72409524 | $— | $— | $72409524 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Call Options Written - Unrealized Appreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;$203147 | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;$203147 |
| Call Options Written - Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;(1207291) | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(1207291) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | $(1004144) | $— | $— | $(1004144) |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR GALAXY HEDGED DIGITAL ASSET ECOSYSTEM ETF

#### CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 10/31/24** | **Value at<br>10/31/24** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 7/31/25** | **Value at<br>7/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 252344 | $252344 | $19429407 | $19332044 | $— | $— | 349707 | $349707 | $23879 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR BRIDGEWATER ALL WEATHER ETF

#### CONSOLIDATED SCHEDULE OF INVESTMENTS

#### July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. TREASURY OBLIGATIONS — 38.8%** |  |  |
| U.S. Treasury Bills 4.29%, 11/4/2025 <br>| &nbsp;&nbsp;&nbsp;$14550000 | &nbsp;&nbsp;&nbsp;$14388382 |
| U.S. Treasury Inflation-Indexed Bonds: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 2/15/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569075 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 2/15/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3521865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1845953 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 2/15/2050<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3175737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1814636 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.63%, 2/15/2043<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3935708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2907812 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 2/15/2042<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3912040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022280 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 2/15/2045<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4443238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3217616 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.88%, 2/15/2047<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2363626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695440 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 2/15/2046<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2577578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1935046 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 2/15/2048<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1707189 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 2/15/2049<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2427098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1739547 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 2/15/2044<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4358398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3636879 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 2/15/2053<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3298209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570026 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 2/15/2041<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2066097 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 2/15/2054<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3377800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3037711 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 2/15/2055<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649837 |
| U.S. Treasury Inflation-Indexed Notes: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.63%, 7/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1382513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289301 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 1/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11735430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11203210 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 7/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8678880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8414784 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 1/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9176193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9078517 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 7/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9450182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9440400 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 7/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5406156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5359169 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 1/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9676320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9804267 |
| **TOTAL U.S. TREASURY OBLIGATIONS<br>(Cost $104,064,427)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;103393174 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS — 20.8%** | **MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS — 20.8%** | **MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS — 20.8%** |
| SPDR Portfolio Emerging Markets ETF (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258905 | &nbsp;&nbsp;&nbsp;$11135504 |
| SPDR Portfolio S&P 500 ETF (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37185983 |
| SPDR S&P China ETF (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6989136 |
| **TOTAL MUTUAL FUNDS AND EXCHANGE TRADED PRODUCTS<br>(Cost $49,886,231)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55310623 |
| **SHORT-TERM INVESTMENT — 37.5%** | **SHORT-TERM INVESTMENT — 37.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 4.29% (b) (c)<br>(Cost $99,793,021) | 99793021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99793021 |
| **TOTAL INVESTMENTS — 97.1%<br>(Cost $253,743,679)<br>** | **TOTAL INVESTMENTS — 97.1%<br>(Cost $253,743,679)<br>** | &nbsp;&nbsp;&nbsp;258496818 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 2.9% <br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 2.9% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7806366 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $266303184 |

---

(a) Affiliated fund managed by SSGA Funds Management, Inc. Amounts related to these investments during the period ended July 31, 2025 are shown in the Affiliate Table below.

(b) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the period ended July 31, 2025 are shown
in the Affiliate Table below.

(c) The rate shown is the annualized seven-day yield at July 31, 2025.

At July 31, 2025, open futures contracts were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| 10 Year U.S. Treasury Notes Futures (long) | 604 | 09/19/2025 | $66524297 | $67081750 | &nbsp;&nbsp;&nbsp;$557453 |
| COMEX Gold 100 Troy Ounces Futures (long) | 101 | 12/29/2025 | &nbsp;&nbsp;&nbsp;34268155 | &nbsp;&nbsp;&nbsp;33820860 | &nbsp;&nbsp;&nbsp;&nbsp;(447295) |
| Eurex 10 Year Euro BUND Futures (long) | 311 | 09/08/2025 | &nbsp;&nbsp;&nbsp;46550064 | &nbsp;&nbsp;&nbsp;46167361 | &nbsp;&nbsp;&nbsp;&nbsp;(382703) |
| Eurex EURO STOXX 50 Futures (long) | 415 | 09/19/2025 | &nbsp;&nbsp;&nbsp;25315323 | &nbsp;&nbsp;&nbsp;25364367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49044 |
| FTSE 100 Index Futures (long) | &nbsp;&nbsp;&nbsp;91 | 09/19/2025 | &nbsp;&nbsp;&nbsp;10713007 | &nbsp;&nbsp;&nbsp;10987563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274556 |
| Long Gilt Futures (long) | 156 | 09/26/2025 | &nbsp;&nbsp;&nbsp;18749620 | &nbsp;&nbsp;&nbsp;19025750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276130 |
| SFE 10 Year Australian Bond Futures (long) | 327 | 09/15/2025 | &nbsp;&nbsp;&nbsp;23948311 | &nbsp;&nbsp;&nbsp;23956552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8241 |
| SFE S&P ASX Share Price Index 200 Futures (long) | &nbsp;&nbsp;&nbsp;74 | 09/18/2025 | &nbsp;&nbsp;&nbsp;10159067 | &nbsp;&nbsp;&nbsp;10366338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207271 |
| TSE TOPIX Futures (long) | &nbsp;&nbsp;&nbsp;69 | 09/11/2025 | &nbsp;&nbsp;&nbsp;12950202 | &nbsp;&nbsp;&nbsp;13520781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570579 |
| U.S. Treasury Bond Futures (long) | 295 | 09/19/2025 | &nbsp;&nbsp;&nbsp;32882391 | &nbsp;&nbsp;&nbsp;33685313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802922 |
|  |  |  |  |  | $1916198 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR BRIDGEWATER ALL WEATHER ETF

#### CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

#### TOTAL RETURN SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br> Total Return** | **Reference<br> Entity** | **Floating<br> Rate** | **Payment<br> Frequency** | **Currency** | **Notional<br> Amount** | **Maturity<br> Date** | **Counterparty<br> (OTC)** | **Upfront<br> Payments<br> Paid/<br> Received** | **Unrealized<br> Appreciation<br> (Depreciation)** | **Value** |
| Receive | Bloomberg Commodity Index Total Return | U.S. Treasury 3 Month Bill | At Maturity | USD | &nbsp;&nbsp;&nbsp;$996391 | &nbsp;&nbsp;9/15/2025 | Bank of America NA | $— | &nbsp;&nbsp;&nbsp;$(4525) | &nbsp;&nbsp;&nbsp;$(4525) |
| Receive | Bloomberg Commodity Index Total Return | U.S. Treasury 3 Month Bill | At Maturity | USD | $14911631 | &nbsp;&nbsp;3/16/2026 | Goldman Sachs & Co. LLC | $— | $(67716) | $(67716) |
| Receive | Bloomberg Commodity Index Total Return | U.S. Treasury 3 Month Bill | At Maturity | USD | $9819495 | 12/15/2025 | BNP Paribas SA | $— | $(44592) | $(44592) |
| Receive | Bloomberg Commodity Index Total Return | U.S. Treasury 3 Month Bill | At Maturity | USD | $24953944 | &nbsp;&nbsp;6/15/2026 | JPMorgan Securities LLC | $— | $(113319) | $(113319) |
| Receive | Bloomberg Commodity Index Total Return | U.S. Treasury 3 Month Bill | At Maturity | USD | &nbsp;&nbsp;&nbsp;$700000 | &nbsp;&nbsp;9/15/2025 | Goldman Sachs & Co. LLC | $— | $(15432) | $(15432) |
| Receive | Bloomberg Commodity Index Total Return | U.S. Treasury 3 Month Bill | At Maturity | USD | $1215628 | &nbsp;&nbsp;9/15/2025 | BNP Paribas SA | $— | $(36008) | $(36008) |
| Receive | Bloomberg Commodity Index Total Return | U.S. Treasury 3 Month Bill | At Maturity | USD | $6868058 | &nbsp;&nbsp;9/15/2025 | JPMorgan Securities LLC | $— | $(203438) | $(203438) |
| Receive | Bloomberg Commodity Index Total Return | U.S. Treasury 3 Month Bill | At Maturity | USD | $1758000 | &nbsp;&nbsp;9/15/2025 | JPMorgan Securities LLC | $— | $(48827) | $(48827) |
| Receive | Bloomberg Commodity Index Total Return | U.S. Treasury 3 Month Bill | At Maturity | USD | &nbsp;&nbsp;&nbsp;$231000 | &nbsp;&nbsp;9/15/2025 | Goldman Sachs & Co. LLC | $— | &nbsp;&nbsp;&nbsp;$(7497) | &nbsp;&nbsp;&nbsp;$(7497) |
| Receive | Bloomberg Commodity Index Total Return | U.S. Treasury 3 Month Bill | At Maturity | USD | &nbsp;&nbsp;&nbsp;$887000 | &nbsp;&nbsp;9/15/2025 | JPMorgan Securities LLC | $— | $(25224) | $(25224) |
| **Total** |  |  |  |  |  |  |  | **$—** | **$(566578)** | **$(566578)** |

---

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of July 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| U.S. Treasury Obligations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | $103393174 | $— | $103393174 |
| Mutual Funds and Exchange Traded Products<br>| &nbsp;&nbsp;&nbsp;&nbsp;55310623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;55310623 |
| Short-Term Investment<br>| &nbsp;&nbsp;&nbsp;&nbsp;99793021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;99793021 |
| **TOTAL INVESTMENTS<br>**  | $155103644 | $103393174 | $— | $258496818 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Appreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;$2746196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | $— | &nbsp;&nbsp;&nbsp;&nbsp;$2746196 |
| Futures Contracts - Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(829998) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(829998) |
| Total Return Swap Contracts - Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(566578) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(566578) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;$1916198 | &nbsp;&nbsp;&nbsp;&nbsp;$(566578) | $— | &nbsp;&nbsp;&nbsp;&nbsp;$1349620 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR BRIDGEWATER ALL WEATHER ETF

#### CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 3/6/25\*** | **Value at<br>3/6/25\*** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 7/31/25** | **Value at<br>7/31/25** | **Dividend<br> Income** |
| SPDR Portfolio Emerging Markets ETF<br>|  | $— | $10255323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | $— | &nbsp;&nbsp;$880181 | &nbsp;&nbsp;&nbsp;&nbsp;258905 | &nbsp;&nbsp;$11135504 | &nbsp;&nbsp;$123960 |
| SPDR Portfolio S&P 500 ETF<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;33129864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;4056119 | &nbsp;&nbsp;&nbsp;&nbsp;500215 | &nbsp;&nbsp;&nbsp;37185983 | &nbsp;&nbsp;&nbsp;&nbsp;136301 |
| SPDR S&P China ETF<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;6501044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;488092 | &nbsp;&nbsp;&nbsp;&nbsp;76384 | &nbsp;&nbsp;&nbsp;&nbsp;6989136 | &nbsp;&nbsp;&nbsp;&nbsp;67704 |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;115635996 | &nbsp;&nbsp;15842975 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 99793021 | &nbsp;&nbsp;&nbsp;99793021 | &nbsp;&nbsp;1206174 |
| Total<br>|  | $— | $165522227 | $15842975 | $— | $5424392 |  | $155103644 | $1534139 |

---

\* Commencement of operations.

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA IG PUBLIC & PRIVATE CREDIT ETF

#### SCHEDULE OF INVESTMENTS

#### July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 44.8%** | **CORPORATE BONDS & NOTES — 44.8%** | **CORPORATE BONDS & NOTES — 44.8%** |
| **AEROSPACE & DEFENSE — 1.4%** | **AEROSPACE & DEFENSE — 1.4%** | **AEROSPACE & DEFENSE — 1.4%** |
| Boeing Co.<br>6.30%, 5/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;$1011000 | &nbsp;&nbsp;&nbsp;&nbsp;$1066807 |
| Howmet Aerospace, Inc.<br>4.85%, 10/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455337 |
| RTX Corp.<br>6.10%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457882 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980026 |
| **AGRICULTURE — 2.1%** | **AGRICULTURE — 2.1%** | **AGRICULTURE — 2.1%** |
| BAT Capital Corp.<br>6.00%, 2/20/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375660 |
| Imperial Brands Finance PLC<br>5.50%, 2/1/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002466 |
| JBS USA LUX SARL/JBS USA Food Co./JBS USA Foods Group<br>5.95%, 4/20/2035 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650896 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3029022 |
| **AUTO MANUFACTURERS — 0.3%** | **AUTO MANUFACTURERS — 0.3%** | **AUTO MANUFACTURERS — 0.3%** |
| Daimler Truck Finance North America LLC<br>5.38%, 6/25/2034 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200442 |
| General Motors Co.<br>5.00%, 4/1/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189746 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390188 |
| **AUTO PARTS & EQUIPMENT — 0.2%** | **AUTO PARTS & EQUIPMENT — 0.2%** | **AUTO PARTS & EQUIPMENT — 0.2%** |
| Aptiv Swiss Holdings Ltd.<br>5.15%, 9/13/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360590 |
| **BANKS — 5.0%** | **BANKS — 5.0%** | **BANKS — 5.0%** |
| Bank of America Corp.<br>SOFR + 1.31%, 5.51%, 1/24/2036 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512140 |
| Barclays PLC<br>SOFR + 1.91%, 5.34%, 9/10/2035 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635894 |
| Goldman Sachs Group, Inc.<br>SOFR + 1.38%, 5.54%, 1/28/2036 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204610 |
| JPMorgan Chase & Co.<br>SOFR + 1.32%, 5.50%, 1/24/2036 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718046 |
| M&T Bank Corp.<br>Series MTN, SOFR + 1.61%, 5.39%, 1/16/2036 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145550 |
| Morgan Stanley<br>SOFR + 1.42%, 5.59%, 1/18/2036 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155015 |
| Morgan Stanley Private Bank NA<br>SOFR + 1.08%, 4.73%, 7/18/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567492 |
| U.S. Bancorp: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, SOFR + 2.11%, 4.97%, 7/22/2033 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463570 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 1.25%, 5.10%, 7/23/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$510230 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 1.41%, 5.42%, 2/12/2036 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610044 |
| Wells Fargo & Co.<br>SOFR + 1.38%, 5.21%, 12/3/2035 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751748 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7274339 |
| **BEVERAGES — 1.1%** | **BEVERAGES — 1.1%** | **BEVERAGES — 1.1%** |
| Anheuser-Busch InBev Worldwide, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 6/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860641 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 6/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773667 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1634308 |
| **BIOTECHNOLOGY — 0.9%** | **BIOTECHNOLOGY — 0.9%** | **BIOTECHNOLOGY — 0.9%** |
| Amgen, Inc.<br>5.25%, 3/2/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535337 |
| Gilead Sciences, Inc.<br>5.10%, 6/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803227 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1338564 |
| **CHEMICALS — 0.2%** | **CHEMICALS — 0.2%** | **CHEMICALS — 0.2%** |
| Dow Chemical Co.<br>5.15%, 2/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196792 |
| Eastman Chemical Co.<br>5.63%, 2/20/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101668 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298460 |
| **COMMERCIAL SERVICES — 0.6%** | **COMMERCIAL SERVICES — 0.6%** | **COMMERCIAL SERVICES — 0.6%** |
| Verisk Analytics, Inc.<br>5.25%, 6/5/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837367 |
| **CONSTRUCTION MATERIALS — 0.2%** | **CONSTRUCTION MATERIALS — 0.2%** | **CONSTRUCTION MATERIALS — 0.2%** |
| Carrier Global Corp.<br>5.90%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317610 |
| **DISTRIBUTION & WHOLESALE — 0.2%** | **DISTRIBUTION & WHOLESALE — 0.2%** | **DISTRIBUTION & WHOLESALE — 0.2%** |
| LKQ Corp.<br>6.25%, 6/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313461 |
| **DIVERSIFIED FINANCIAL SERVICES — 1.8%** | **DIVERSIFIED FINANCIAL SERVICES — 1.8%** | **DIVERSIFIED FINANCIAL SERVICES — 1.8%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust<br>5.38%, 12/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774021 |
| Ally Financial, Inc.<br>SOFR + 1.73%, 5.54%, 1/17/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322020 |
| Blackrock, Inc.<br>4.75%, 5/25/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200596 |
| Charles Schwab Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 2/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423178 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 2.21%, 5.64%, 5/19/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485599 |
| Intercontinental Exchange, Inc.<br>5.25%, 6/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454947 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2660361 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA IG PUBLIC & PRIVATE CREDIT ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ELECTRIC — 2.5%** | **ELECTRIC — 2.5%** | **ELECTRIC — 2.5%** |
| American Electric Power Co., Inc.<br>5.63%, 3/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$426000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$441851 |
| Dominion Energy, Inc.<br>Series C, 3.38%, 4/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328447 |
| Duke Energy Corp.<br>2.45%, 6/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436986 |
| Exelon Corp.<br>4.05%, 4/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411953 |
| FirstEnergy Transmission LLC<br>4.55%, 1/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473917 |
| Georgia Power Co.<br>4.55%, 3/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508596 |
| Pacific Gas & Electric Co.<br>5.55%, 5/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693036 |
| PPL Capital Funding, Inc.<br>4.13%, 4/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294857 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3589643 |
| **ELECTRONICS — 0.3%** | **ELECTRONICS — 0.3%** | **ELECTRONICS — 0.3%** |
| Honeywell International, Inc.<br>5.00%, 3/1/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449829 |
| **FOOD — 1.2%** | **FOOD — 1.2%** | **FOOD — 1.2%** |
| Campbell's Co.<br>5.40%, 3/21/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970619 |
| J.M. Smucker Co.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400563 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 3/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370896 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742078 |
| **HEALTH CARE PRODUCTS — 0.3%** | **HEALTH CARE PRODUCTS — 0.3%** | **HEALTH CARE PRODUCTS — 0.3%** |
| GE HealthCare Technologies, Inc.<br>5.91%, 11/22/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508837 |
| **HEALTH CARE SERVICES — 1.3%** | **HEALTH CARE SERVICES — 1.3%** | **HEALTH CARE SERVICES — 1.3%** |
| Elevance Health, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 2/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472898 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 10/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247944 |
| HCA, Inc.<br>5.50%, 3/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852252 |
| UnitedHealth Group, Inc.<br>4.80%, 1/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302994 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1876088 |
| **HOUSEHOLD PRODUCTS — 0.3%** | **HOUSEHOLD PRODUCTS — 0.3%** | **HOUSEHOLD PRODUCTS — 0.3%** |
| Haleon U.S. Capital LLC<br>3.63%, 3/24/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420849 |
| **HOUSEHOLD PRODUCTS & WARES — 0.4%** | **HOUSEHOLD PRODUCTS & WARES — 0.4%** | **HOUSEHOLD PRODUCTS & WARES — 0.4%** |
| Church & Dwight Co., Inc.<br>5.60%, 11/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529595 |
| **INSURANCE — 1.3%** | **INSURANCE — 1.3%** | **INSURANCE — 1.3%** |
| American Financial Group, Inc.<br>5.25%, 4/2/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179889 |
| Arthur J Gallagher & Co.<br>5.00%, 2/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403096 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Athene Global Funding<br>5.58%, 1/9/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$154221 |
| Athene Holding Ltd.<br>6.65%, 2/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220621 |
| Corebridge Financial, Inc.<br>3.90%, 4/5/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422766 |
| Lincoln National Corp.<br>5.85%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230389 |
| Marsh & McLennan Cos., Inc.<br>4.65%, 3/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176656 |
| MetLife, Inc.<br>5.30%, 12/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102200 |
| Progressive Corp.<br>3.20%, 3/26/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1961147 |
| **INTERNET — 0.9%** | **INTERNET — 0.9%** | **INTERNET — 0.9%** |
| Amazon.com, Inc.<br>4.80%, 12/5/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203412 |
| Meta Platforms, Inc.<br>4.75%, 8/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046630 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250042 |
| **INVESTMENT COMPANY SECURITIES — 0.8%** | **INVESTMENT COMPANY SECURITIES — 0.8%** | **INVESTMENT COMPANY SECURITIES — 0.8%** |
| ARES Capital Corp.<br>5.88%, 3/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836511 |
| Blackstone Private Credit Fund<br>6.00%, 1/29/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303837 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1140348 |
| **IRON/STEEL — 0.2%** | **IRON/STEEL — 0.2%** | **IRON/STEEL — 0.2%** |
| ArcelorMittal SA<br>6.00%, 6/17/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314139 |
| **IT SERVICES — 1.9%** | **IT SERVICES — 1.9%** | **IT SERVICES — 1.9%** |
| CGI, Inc.<br>4.95%, 3/14/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202448 |
| Leidos, Inc.<br>5.40%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840964 |
| NetApp, Inc.<br>5.50%, 3/17/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1771040 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2814452 |
| **LODGING — 0.7%** | **LODGING — 0.7%** | **LODGING — 0.7%** |
| Sands China Ltd.<br>5.40%, 8/8/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061676 |
| **MACHINERY-DIVERSIFIED — 0.2%** | **MACHINERY-DIVERSIFIED — 0.2%** | **MACHINERY-DIVERSIFIED — 0.2%** |
| Ingersoll Rand, Inc.<br>5.45%, 6/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225817 |
| **MEDIA — 0.5%** | **MEDIA — 0.5%** | **MEDIA — 0.5%** |
| Charter Communications Operating LLC/Charter Communications Operating Capital<br>6.65%, 2/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582439 |
| Comcast Corp.<br>4.40%, 8/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188586 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771025 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA IG PUBLIC & PRIVATE CREDIT ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MINING — 0.5%** | **MINING — 0.5%** | **MINING — 0.5%** |
| Glencore Funding LLC<br>5.63%, 4/4/2034 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$663260 |
| **OIL & GAS — 2.4%** | **OIL & GAS — 2.4%** | **OIL & GAS — 2.4%** |
| BP Capital Markets America, Inc.<br>5.23%, 11/17/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138320 |
| Diamondback Energy, Inc.<br>5.40%, 4/18/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101492 |
| Occidental Petroleum Corp.<br>6.63%, 9/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263862 |
| Ovintiv, Inc.<br>6.25%, 7/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1034060 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3537734 |
| **PHARMACEUTICALS — 1.6%** | **PHARMACEUTICALS — 1.6%** | **PHARMACEUTICALS — 1.6%** |
| AbbVie, Inc.<br>4.95%, 3/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822394 |
| CVS Health Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 4/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270472 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 7/20/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238665 |
| Eli Lilly & Co.<br>4.90%, 2/12/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408600 |
| Pfizer Investment Enterprises Pte. Ltd.<br>4.75%, 5/19/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567819 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2307950 |
| **PIPELINES — 0.9%** | **PIPELINES — 0.9%** | **PIPELINES — 0.9%** |
| Energy Transfer LP<br>3.75%, 5/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359257 |
| Enterprise Products Operating LLC<br>4.85%, 1/31/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396480 |
| ONEOK, Inc.<br>5.05%, 11/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242980 |
| Williams Cos., Inc.<br>5.60%, 3/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255493 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254210 |
| **PRIVATE CREDIT SECURITIES — 6.7%** | **PRIVATE CREDIT SECURITIES — 6.7%** | **PRIVATE CREDIT SECURITIES — 6.7%** |
| AGL Energy Ltd.<br>7.91%, 12/8/2035 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100000 |
| AP Fides Holdings I<br>6.00%, 11/30/2048 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2017890 |
| AP Grange Holdings<br>6.50%, 3/20/2045 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3163915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3030000 |
| AP Hermes Holdings I LLC<br>6.25%, 7/25/2048 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1387903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1632208 |
| AP Maia Holdings I LLC<br>5.50%, 7/28/2047 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460094 |
| AP Oryx Holdings LLC<br>6.10%, 9/8/2043 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499675 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9739867 |
| **REAL ESTATE INVESTMENT TRUSTS — 1.0%** | **REAL ESTATE INVESTMENT TRUSTS — 1.0%** | **REAL ESTATE INVESTMENT TRUSTS — 1.0%** |
| American Tower Corp.<br>5.40%, 1/31/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101736 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| COPT Defense Properties LP<br>2.75%, 4/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$323171 |
| Digital Realty Trust LP<br>3.60%, 7/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351637 |
| Essex Portfolio LP<br>3.00%, 1/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282839 |
| UDR, Inc.<br>Series MTN, 3.20%, 1/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331338 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390721 |
| **RETAIL — 0.8%** | **RETAIL — 0.8%** | **RETAIL — 0.8%** |
| AutoNation, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 11/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194351 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.85%, 3/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275901 |
| AutoZone, Inc.<br>6.55%, 11/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127762 |
| Dick's Sporting Goods, Inc.<br>3.15%, 1/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224465 |
| O'Reilly Automotive, Inc.<br>5.00%, 8/19/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346479 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168958 |
| **SEMICONDUCTORS — 2.3%** | **SEMICONDUCTORS — 2.3%** | **SEMICONDUCTORS — 2.3%** |
| Advanced Micro Devices, Inc.<br>3.92%, 6/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1223000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178446 |
| Broadcom, Inc.<br>5.20%, 4/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169318 |
| Marvell Technology, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 4/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350672 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.95%, 9/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701289 |
| Micron Technology, Inc.<br>5.88%, 9/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989739 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3389464 |
| **SOFTWARE — 1.0%** | **SOFTWARE — 1.0%** | **SOFTWARE — 1.0%** |
| Synopsys, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 4/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473289 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.15%, 4/1/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379111 |
| Workday, Inc.<br>3.80%, 4/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549379 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401779 |
| **TELECOMMUNICATIONS — 0.8%** | **TELECOMMUNICATIONS — 0.8%** | **TELECOMMUNICATIONS — 0.8%** |
| AT&T, Inc.<br>2.55%, 12/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457043 |
| Deutsche Telekom International Finance BV<br>4.75%, 6/21/2038 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392761 |
| T-Mobile USA, Inc.<br>4.70%, 1/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241515 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091319 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $64,734,195)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65035123 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA IG PUBLIC & PRIVATE CREDIT ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ASSET-BACKED SECURITIES — 8.8%** |  |  |
| **AUTOMOBILE — 0.9%** |  |  |
| Wheels Fleet Lease Funding 1 LLC<br>Series 2024-1A, Class D, 6.66%, 2/18/2039 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;$1250000 | &nbsp;&nbsp;&nbsp;&nbsp;$1288091 |
| **HOME EQUITY ABS — 0.4%** |  |  |
| RCKT Mortgage Trust<br>Series 2023-CES3, Class A2, 7.61%, 11/25/2043 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507728 |
| **OTHER ABS — 6.4%** |  |  |
| Antares CLO Ltd.<br>Series 2018-3A, Class DR, 3 mo. USD Term SOFR + 3.85%, 8.18%, 7/20/2036 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499800 |
| Golub Capital Partners CLO 38M Ltd.<br>Series 2018-38A, Class DR, 3 mo. USD Term SOFR + 4.20%, 8.51%, 7/28/2036 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002200 |
| PK ALIFT Loan Funding 3 LP: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class C, 6.55%, 9/15/2039 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781976 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class D, 7.49%, 9/15/2039 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1535631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570350 |
| PK ALIFT Loan Funding 4 LP<br>Series 2024-2, Class D, 6.41%, 10/15/2039 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1347677 |
| RR 12 Ltd.<br>Series 2020-12A, Class CR3, 3 mo. USD Term SOFR + 3.00%, 7.32%, 1/15/2036 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990600 |
| RR 27 Ltd.<br>Series 2023-27A, Class C2, 3 mo. USD Term SOFR + 5.92%, 10.24%, 10/15/2035 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005200 |
| SunStrong Issuer LLC<br>Series 2025-A, Class A, 6.19%, 6/21/2055 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9315000 |
| **STUDENT LOAN ABS — 1.1%** |  |  |
| Ascent Education Funding Trust<br>Series 2024-A, Class C, 8.01%, 10/25/2050 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1622083 |
| **TOTAL ASSET-BACKED SECURITIES<br>(Cost $12,713,643)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12732902 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS — 23.0%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS — 23.0%** |  |
| Federal Home Loan Mortgage Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/1/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;$6933237 | &nbsp;&nbsp;&nbsp;&nbsp;$5443150 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 5/1/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5650371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4637493 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 5/1/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3684737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3156136 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 7/1/2055<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929601 |
| Federal National Mortgage Association: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 12/1/2051<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2447290 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 3/1/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8869037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7621413 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 4/1/2052<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5085593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4356029 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 2/1/2055<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2890457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2875937 |
| **TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS<br>(Cost $33,664,341)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33467049 |
| **U.S. TREASURY OBLIGATIONS — 11.1%** |  |  |
| U.S. Treasury Bonds 4.63%, 2/15/2055 <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469524 |
| U.S. Treasury Notes: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 6/30/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12456055 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 1/31/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940918 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 2/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328234 |
| **TOTAL U.S. TREASURY OBLIGATIONS<br>(Cost $16,285,686)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16194731 |
| **MORTGAGE-BACKED SECURITIES — 6.1%** | **MORTGAGE-BACKED SECURITIES — 6.1%** |  |
| MF1 LLC: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-FL14, Class C, 1 mo. USD Term SOFR + 3.29%, 7.64%, 3/19/2039 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999999 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL17, Class D, 1 mo. USD Term SOFR + 2.74%, 7.09%, 2/18/2040 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1137786 |
| MF1 Trust Series 2024-FL16, Class C, 1 mo. USD Term SOFR + 2.54%, 6.89%, 11/18/2039 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990004 |
| MFA Trust Series 2025-NQM1, Class M1, CMO, 6.29%, 3/25/2070 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502866 |
| NYMT Loan Trust Series 2025-CP1, Class A2, CMO, 3.75%, 11/25/2069 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319633 |
| PFP Ltd. Series 2024-11, Class C, 1 mo. USD Term SOFR + 2.99%, 7.33%, 9/17/2039 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1951249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941497 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA IG PUBLIC & PRIVATE CREDIT ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Verus Securitization Trust Series 2023-2, Class M1, CMO, 7.46%, 3/25/2068 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;$2000000 | &nbsp;&nbsp;&nbsp;&nbsp;$2003880 |
| **TOTAL MORTGAGE-BACKED SECURITIES<br>(Cost $8,910,624)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8895665 |
| **COMMERCIAL MORTGAGE BACKED SECURITIES — 3.3%** | **COMMERCIAL MORTGAGE BACKED SECURITIES — 3.3%** |  |
| Bank: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-BN25, Class AS, 2.84%, 1/15/2063<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896131 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-BNK41, Class A4, VRN, 3.79%, 4/15/2065 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935644 |
| BBCMS Mortgage Trust Series 2024-5C27, Class AS, VRN, 6.41%, 7/15/2057 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2975704 |
| **TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES<br>(Cost $4,822,379)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4807479 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENT — 2.3%** | **SHORT-TERM INVESTMENT — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 4.29% (d) (e)<br>(Cost $3,297,941) | 3297941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3297941 |
| **TOTAL INVESTMENTS — 99.4%<br>(Cost $144,428,809)<br>** | **TOTAL INVESTMENTS — 99.4%<br>(Cost $144,428,809)<br>** | &nbsp;&nbsp;&nbsp;144430890 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.6% <br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.6% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850311 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $145281201 |

---

(a) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 17.8% of net assets as of July 31, 2025, may be resold in
transactions exempt from registration, normally to qualified institutional buyers.

(b) Variable Rate Security - Interest rate shown is rate in effect at July 31, 2025. For securities based on a published reference rate and spread, the reference rate and spread are
indicated in the description above.

(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 July 31, 2025, total aggregate fair value of the securities is $9,739,867, representing 6.70% 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 investments during the period ended July 31, 2025 are shown
in the Affiliate Table below.

(e) The rate shown is the annualized seven-day yield at July 31, 2025.

---

| | |
|:---|:---|
| ABS | Asset-Backed Security |
| CLO | Collateralized Loan Obligation |
| CMO | Collateralized Mortgage Obligation |
| MTN | Medium Term Note |
| SOFR | Secured Overnight Financing Rate |
| VRN | Variable Rate Note |

---

At July 31, 2025, open forward foreign currency exchange contracts were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount Bought** | &nbsp;&nbsp;&nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Net Unrealized<br> Appreciation/<br> (Depreciation)** |
| HSBC Bank USA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR534,414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD628,710 | &nbsp;&nbsp;&nbsp;&nbsp;09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp;$15628 |
| HSBC Bank USA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR2,158,861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD2,516,600 | &nbsp;&nbsp;&nbsp;&nbsp;09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39946 |
| Standard Chartered Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR1,218,309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD1,397,518 | &nbsp;&nbsp;&nbsp;&nbsp;09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(130) |
| Total |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$55444 |

---

---

| | |
|:---|:---|
| EUR | Euro |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA IG PUBLIC & PRIVATE CREDIT ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

At July 31, 2025, open futures contracts were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| 5 Yr. U.S. Treasury Notes Futures (long) | 247 | 09/30/2025 | $26726068 | $26718453 | $(7615) |
| Ultra U.S. Treasury Bond Futures (long) | &nbsp;&nbsp;&nbsp;12 | 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1386009 | &nbsp;&nbsp;&nbsp;&nbsp;1407750 | &nbsp;&nbsp;&nbsp;21741 |
|  |  |  |  |  | $14126 |

---

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of July 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Corporate Bonds & Notes<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$55295256 | $9739867 | &nbsp;&nbsp;$65035123 |
| Asset-Backed Securities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;12732902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;12732902 |
| U.S. Government Agency Obligations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;33467049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;33467049 |
| U.S. Treasury Obligations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;16194731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;16194731 |
| Mortgage-Backed Securities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8895665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8895665 |
| Commercial Mortgage Backed Securities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4807479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4807479 |
| Short-Term Investment<br>| &nbsp;&nbsp;3297941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3297941 |
| **TOTAL INVESTMENTS<br>**  | $3297941 | $131393082 | $9739867 | $144430890 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts -<br>Unrealized Appreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$55574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$55574 |
| Forward Foreign Currency Exchange Contracts -<br>Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(130) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(130) |
| Futures Contracts - Unrealized Appreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21741 |
| Futures Contracts - Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7615) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7615) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;$14126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$55444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$69570 |

---

The following table reconciles the valuation of the Fund's Level 3 investment securities and related transactions for the period ended July 31, 2025.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Beginning<br> Value at<br> February 27, 2025\*** | **Transfers<br> into<br> Level 3\*\*** | **Purchases** | **Sales** | **Net<br> realized<br> gain** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Transfers<br> out of<br> Level 3** | **Ending<br> Value at<br> July 31, 2025** |
| Corporate Bonds & Notes<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | $0 | $9662943 | $7310 | $0 | $84234 | $— | $9739867 |
| Change in net unrealized<br>appreciation (depreciation) on<br>investments still held<br>as of July 31, 2025\*\*\*<br>| $84234 |  |  |  |  |  |  |  |

---

\* Commencement of operations.

\*\* Transfers into or out of Level 3 are based on the beginning market value of the period in which they occurred. These transfers are the result of changes in the availability of pricing sources and/or in the observability of significant inputs used in valuing the securities.

\*\*\* Net unrealized depreciation is included in the related amounts on investments in the Fund's Statement of Operations.

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA IG PUBLIC & PRIVATE CREDIT ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

#### Significant Unobservable Inputs
The following table summarizes the significant unobservable inputs used to value the Level 3 investments as of July 31, 2025.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type of Investment** | **Fair Value as of<br> July 31, 2025** | **Valuation<br> Technique** | **Unobservable<br> Input** | **Range (Weighted Avg)<sup>(a) (b)</sup>** | **Impact to<br> Valuation from an<br> Increase to Input** |
| Corporate Bonds & Notes<br>| $8930796 | Transaction Approach | Recent Transactions | 99.50%–105.00%; (102.76%) | Increase |
| Corporate Bonds & Notes<br>| &nbsp;&nbsp;&nbsp;$809071 | Discounted Cash Flow | Discount Rate (Mid) | 5.43%–7.35%; (6.12%) | Decrease |

---

(a) Represents the range and weighted average of the unobservable input values.

(b) Weighted average is calculated by weighing the significant unobservable input by the relative fair value of each investment in the category.

#### Affiliate Table

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 7/31/25** | **Value at<br>7/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>– $— | $44356735 | $41058794 | $— | $— | 3297941 | $3297941 | $58183 |

---

\* Commencement of operations.

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO SCHEDULES OF INVESTMENTS

#### July 31, 2025 (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 overseeing the determination of the fair value of investments.

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

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

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

• Forward foreign currency exchange contracts are valued based on that day's prevailing forward exchange rate for the underlying currencies. The rates are obtained from independent pricing services in accordance with the valuation policy and procedures approved by the Board.

• 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.

• Swap agreements are valued daily based upon prices supplied by Board approved pricing vendors or through brokers. Depending on the product and terms of the transaction, the value of agreements is determined using a series of techniques including valuation models that incorporate a number of market data factors, such as discounted cash flows, yields, curves, trades and values of the underlying reference instruments. In the event the advisor is unable to obtain an independent, third–party valuation the agreements will be fair valued.

• Options are priced at their last sale price on the principal market on which they are traded on the valuation date. If there were no sales on that day, options are valued at either the last reported sale or official closing price on their primary exchange determined in accordance with the valuation policy and procedures approved by the Board.

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 benchmark. Various inputs are used in determining the value of the Portfolios' or 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.

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO SCHEDULES OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

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 July 31, 2025, is disclosed in each Fund's respective (Consolidated) Schedule of Investments.

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

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

During the period ended July 31, 2025, the SPDR Bridgewater All Weather ETF and SPDR SSGA IG Public & Private Credit ETF entered into futures contracts to hedge interest rate risk and manage duration.

#### Forward Foreign Currency Exchange Contracts
Certain Portfolios or Funds may engage in forward foreign currency exchange contracts to acquire exposure to foreign currencies or to hedge the Portfolios' or Funds' investments against currency fluctuations. A forward foreign currency exchange contract is a commitment to purchase or sell a foreign currency at the settlement date at a negotiated rate. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in cash without the delivery of foreign currency. The contract is marked-to-market daily and the change in marketvalue is recorded by the Portfolio or Fund as an unrealized gain or loss. When the contract is closed, the Portfolio or Fund recognizes a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Certain risks may arise upon entering into forward foreign currency exchange contracts from the potential inability of counter parties to meet the terms of their contracts and are generally limited to the amount of unrealized gains on appreciated contracts, if any. Additionally, when utilizing forward foreign currency exchange contracts to hedge,the Portfolio or Fund gives up the opportunity to profit from favorable exchange rate movements during the term of the contract.

For the period ended July 31, 2025, the SPDR SSGA IG Public & Private Credit ETF entered into forward foreign currency exchange contracts to offset the Fund's exposure to the component currencies.

#### Option Contracts
The Funds may purchase and write (sell) call and put options on futures. Options on futures give the holder the right, in return for the premium paid, to assume a long position (call) or short position (put) in a futures contract at a specified exercise price upon expiration of, or at any time during the period of, the option. Upon exercise of a call

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO SCHEDULES OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

option, the holder acquires a long position in the futures contract and the writer is assigned the opposite short position. In the case of a put option, the opposite is true. The Fund is required to make a good faith margin deposit in cash or U.S. government securities (or other eligible collateral) with a broker or custodian to initiate and maintain open positions in futures contracts. A margin deposit is intended to assure completion of the contract (delivery or acceptance of the underlying commodity or payment of the cash settlement amount) if it is not terminated prior to the specified delivery date. Brokers may establish deposit requirements which are higher than the exchange minimums. Futures contracts are customarily purchased and sold on margin deposits which may range upward from less than 5% of the value of the contract being traded.

The Funds may purchase and sell put and call options. Such options may relate to particular securities and may or may not be listed on a national securities exchange and issued by the Options Clearing Corporation Options trading is a highly specialized activity that entails greater than ordinary investment risk. Options on particular securities may be more volatile than the underlying securities, and therefore, on a percentage basis, an investment in options may be subject to greater fluctuation than an investment in the underlying securities themselves.

During the period ended July 31, 2025, the SPDR Galaxy Hedged Digital Asset Ecosystem ETF entered into option contracts.

#### Swaps
The Fund may enter into swap agreements, in which the Fund and counterparty agree either to make periodic net payments on a specified notional amount or a net payment upon termination. Swap agreements are privately negotiated in the OTC market and may be entered into as a bilateral contract ("BL OTC") or centrally cleared ("centrally cleared swaps"). Swaps are marked-to-market daily and changes in value are recorded as unrealized appreciation (depreciation).

A BL OTC swap is a transaction between a fund and dealer counterparty where cash flows are exchanged between the two parties for the life of the swap. For BL OTC swaps, any upfront premiums paid are recorded as assets and any upfront fees received are recorded as liabilities and are shown as credit default swap contracts premiums paid and credit default swap contracts premiums received, respectively, in the Statements of Assets and Liabilities and amortized to realized gain/loss ratably over the term of the BL OTC swap. Payments received or made by the Fund for BL OTC swaps are recorded in the Statements of Operations as realized gains or losses,respectively. When a BL OTC swap is terminated, the Fund will record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Fund's basis in the contract, if any. Generally, the basis of the contracts is the premium received or paid.

A centrally cleared OTC swap is a transaction executed between a fund and a dealer counterparty, then cleared by a futures commission merchant (FCM) through a clearinghouse. Once cleared, the clearinghouse serves as a central counterparty ("CCP"), with whom a exchanges cash flows for the life of the transaction, similar to transactions in futures contracts.

The Fund is required to interface with the CCP through a broker. Upon entering into a centrally cleared swap, the Fund is required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on the size and risk profile of the particular swap. Securities deposited as initial margin if any, are designated on the Consolidated Schedule of Investments and cash deposited is segregated and recorded on the Consolidated Statement of Assets and Liabilities as Net cash at broker. The daily change in valuation of centrally cleared swaps is recorded as a receivable or payable for variation margin in the Statement of Assets and Liabilities. Payments received from (paid to) the counterparty, including at termination, are recorded as realized gain (loss) in the Statement of Operations. For both bi-lateral and centrally cleared OTC swaps, payments are exchanged at specified intervals, accrued daily commencing with the effective date of the contract and recorded as realized gain or (loss). Some swaps may be terminated prior to the effective date and realize a gain or loss upon termination.

During the period ended July 31, 2025, the SPDR Bridgewater All Weather ETF entered into swap contracts.

#### Total Return Swaps
Total return swaps are agreements in which there is an exchange of cash flows whereby one party commits to make payments on the total return (coupon plus capital gains/losses) of an underlying instrument in exchange for fixed or floating rate interest payments. To the extent the total return of the instrument or index underlying the transaction exceeds or falls short of the offsetting interest rate obligation, the Fund will receive a payment or make a payment to the counterparty.

------

[**Table of Contents**](#JOB_SSGA__9edb61e3-7b94-4152-a2c2-f5adc2b6d377_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO SCHEDULES OF INVESTMENTS (continued)

#### July 31, 2025 (Unaudited)

------

#### 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 July 31, 2025, are disclosed in the (Consolidated) Schedules of Investments.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** SSGA Active Trust

- **b. Investment Company Act file number:** 811-22542

- **c. CIK number of Registrant:** 0001516212

- **d. LEI of Registrant:** 549300MAXSRPQ75ICU67

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** One Iron Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 617-664-8594

**Item A.2. Information about the Series.**

- **a. Name of Series:** SPDR Galaxy Digital Asset Ecosystem ETF

- **b. EDGAR series identifier (if any):** S000087748

- **c. LEI of Series:** 9845009VDFAE67B2C657

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $10398718.87

**Total Liabilities:** $5718.32

**Net Assets:** $10393000.55

**Amount of Assets Invested in Other Investment Companies:** $1604286.00

**Cash Not Reported:** $1000.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253656 | 15.33%               | 27.29%               | 2.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-277498.68              | $1352593.90                                |
| Month 2  | $87882.81                | $2082683.42                                |
| Month 3  | $817975.89               | $-511848.60                                |

### Schedule of Portfolio Investments

| Name                                      | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Blackrock Inc                             | Blackrock Inc                                              | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |       230 | NS      | $254382.30    | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp                      | Western Digital Corp                                       | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |      3652 | NS      | $287375.88    | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors              | State Street Institutional US Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |    300689 | NS      | $300688.92    | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc                     | Robinhood Markets Inc                                      | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |      1508 | NS      | $155399.40    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                              | Alphabet Inc                                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      2156 | NS      | $413736.40    | 3.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                             | Coherent Corp                                              | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      3209 | NS      | $345288.40    | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                  | Visa Inc                                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |       928 | NS      | $320596.16    | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                         | Lam Research Corp                                          | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      1419 | NS      | $134577.96    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                                 | Block Inc                                                  | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |      1564 | NS      | $120834.64    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co                        | Vertiv Holdings Co                                         | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      2919 | NS      | $425006.40    | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleanspark Inc                            | Cleanspark Inc                                             | CUSIP: 18452B209<br>LEI: 254900VO7KBRJQDGY810 | Long             | EC               | CORP              | US        |     25225 | NS      | $286808.25    | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Cipher Mining Inc                         | Cipher Mining Inc                                          | CUSIP: 17253J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     90466 | NS      | $493944.36    | 4.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Riot Platforms Inc                        | Riot Platforms Inc                                         | CUSIP: 767292105<br>LEI: 5299005LKZAJQDQZDF73 | Long             | EC               | CORP              | US        |     59072 | NS      | $792155.52    | 7.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Bitfarms Ltd/Canada                       | Bitfarms Ltd/Canada                                        | CUSIP: 09173B107<br>LEI: 254900YWMA64Y1RPNJ12 | Long             | EC               | CORP              | CA        |    405024 | NS      | $510330.24    | 4.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                            | Mastercard Inc                                             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       590 | NS      | $334217.30    | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Bitcoin Trust ETF                 | iShares Bitcoin Trust ETF                                  | CUSIP: 46438F101<br>LEI: 529900HVFN08L8P4H851 | Long             | EC               | RF                | US        |     24175 | NS      | $1603286.00   | 15.43%            |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                        | Meta Platforms Inc                                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |       167 | NS      | $129164.48    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Etoro Group Ltd                           | Etoro Group Ltd                                            | CUSIP: 000000000<br>LEI: 213800XPRPJK2X5QRG86 | Long             | EC               | CORP              | VG        |      4285 | NS      | $256928.60    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| IREN Ltd                                  | IREN Ltd                                                   | CUSIP: 000000000<br>LEI: 254900FZF02RB3NNGB71 | Long             | EC               | CORP              | AU        |     17826 | NS      | $287176.86    | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Scientific Inc                       | Core Scientific Inc                                        | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               | CORP              | US        |    119737 | NS      | $1621238.98   | 15.60%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                            | Morgan Stanley                                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      1924 | NS      | $274093.04    | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd | Taiwan Semiconductor Manufacturing Co Ltd                  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      1211 | NS      | $292601.82    | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                       | JPMorgan Chase & Co                                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1328 | NS      | $393406.72    | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc                       | Coinbase Global Inc                                        | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |       691 | NS      | $261032.16    | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc                       | Onto Innovation Inc                                        | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |      1035 | NS      | $98066.25     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors              | State Street Institutional US Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |      1666 | NS      | $1665.93      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-28

**Name of Applicant:** SSGA Active Trust

**Signature:** Arthur Jensen

**Name of Signer:** Arthur Jensen

**Title:** Deputy Treasurer