# EDGAR Filing Document

**Accession Number:** 0001064642
**File Stem:** 0001193125-26-098709
**Filing Date:** 2026-3
**Character Count:** 933261
**Document Hash:** 01d892a71d7126c35f7678c6da11c01a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-098709.hdr.sgml**: 20260309

**ACCESSION NUMBER**: 0001193125-26-098709

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 26

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260309

**DATE AS OF CHANGE**: 20260309

**EFFECTIVENESS DATE**: 20260309

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SPDR SERIES TRUST
- **CENTRAL INDEX KEY:** 0001064642

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08839
- **FILM NUMBER:** 26735725

**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:** STREETTRACKS SERIES TRUST
- **DATE OF NAME CHANGE:** 20000925

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INDEX EXCHANGE LISTED SECURITIES TRUST
- **DATE OF NAME CHANGE:** 19980622

## Series and Classes Contracts Data

### SPDR(R) Bloomberg International Treasury Bond ETF (Series ID: S000018782)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000051964 | SPDR(R) Bloomberg International Treasury Bond ETF | BWX             |

### SPDR(R) FTSE International Government Inflation-Protected Bond ETF (Series ID: S000018783)

| Class ID   | Class Name                                                         | Ticker Symbol   |
|:---|:---|:---|
| C000051965 | SPDR(R) FTSE International Government Inflation-Protected Bond ETF | WIP             |

### SPDR(R) Bloomberg Emerging Markets Local Bond ETF (Series ID: S000022631)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000065485 | SPDR(R) Bloomberg Emerging Markets Local Bond ETF | EBND            |

### SPDR(R) Bloomberg Short Term International Treasury Bond ETF (Series ID: S000023655)

| Class ID   | Class Name                                                   | Ticker Symbol   |
|:---|:---|:---|
| C000069669 | SPDR(R) Bloomberg Short Term International Treasury Bond ETF | BWZ             |

### SPDR(R) Bloomberg International Corporate Bond ETF (Series ID: S000028947)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000088912 | SPDR(R) Bloomberg International Corporate Bond ETF | IBND            |

### State Street(R) SPDR(R) S&P(R) Leveraged Loan ETF (Series ID: S000095649)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000264380 | State Street(R) SPDR(R) S&P(R) Leveraged Loan ETF | LVLN            |

?xml version='1.0' encoding='ASCII'? SPDR SERIES TRUST

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM N-CSR

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED

#### MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number: 811-08839

## SPDR<sup>®</sup><sup></sup>SERIES TRUST

#### (Exact name of registrant as specified in charter)

#### One Congress Street, Boston, Massachusetts 02114

#### (Address of principal executive offices) (zip code)

#### Andrew J. DeLorme, Esq.

#### Chief Legal Officer

#### c/o SSGA Funds Management, Inc.

#### One Congress Street

#### Boston, Massachusetts 02114

#### (Name and address of agent for service)

#### Copy to:
W. John McGuire, Esq.

#### Morgan, Lewis & Bockius LLP

#### 1111 Pennsylvania Avenue, NW

#### Washington, DC 20004

#### Registrant's telephone number, including area code: (617) 664-3920

#### Date of fiscal year end: December 31

#### Date of reporting period: December 31, 2025

------

#### Item 1. Report to Stockholders.
(a) The Report to Shareholders is attached herewith.

# SPDR Bloomberg Emerging Markets Local Bond ETF
![Image](g58388g62j90.jpg)

# EBND

## Principal Listing Exchange: NYSE Arca Exchange

#### Annual Shareholder Report

#### December 31, 2025
This annual shareholder report contains important information about the SPDR Bloomberg Emerging Markets Local Bond ETF (the "Fund") for the period of January 1, 2025 through December 31, 2025. You can find additional information about the Fund, including the Prospectus, Statement of Additional Information, financial statements and other information at www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs. You can also request this information about the Fund by contacting us at 1-866-787-2257.

**What were the Fund costs for the last year? *(based on a hypothetical $10,000 Investment)***

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| SPDR Bloomberg Emerging Markets Local Bond ETF | $32 | 0.30% |

---

## How did the Fund perform last year and what affected its performance?
Resilient economic growth, disinflation trends, high real yields, policy easing by some of the major emerging market ("EM") central banks and a weaker U.S. Dollar were primary drivers of the Fund's performance during the reporting period.

EM debt proved resilient in 2025 despite tariff uncertainty and geopolitical tensions. Early-year stress from U.S. trade actions, a strong dollar, and volatile EM currencies eased as the year progressed. Policy responses diverged: Brazil tightened rates while Mexico, India, Thailand, and Turkey eased. Mid-year tariff threats unsettled markets before negotiations led to a U.S.–China tariff pause. The macro backdrop improved in H2 as the U.S. Federal Reserve ("the Fed") cut rates thrice and ended quantitative tightening, boosting risk appetite. Additionally, dovish messaging from the Fed, heightened policy and fiscal uncertainty in the U.S. and a broad uptick in risk appetite weighed on the U.S. dollar, enabling positive FX returns. Country dispersion persisted, but dovish global conditions and fading trade risks drove a strong year-end finish.

The Fund uses forwards to manage currency exposure, particularly when there are flows around month end, and for currency exposure purposes during market holidays and in the event of challenging liquidity in bond markets.

## Fund Performance
The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains.

### **Comparison of Change in Value of a $10,000 Investment** 

### (Based on Net Asset Value)
![Growth of 10K Chart](g58388g91t93.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **EBND** | **Bloomberg Global Aggregate Bond Index** | **Bloomberg EM Local Currency Government Diversified Index** |
| **12/31/15** | $10000 | $10000 | $10000 |
| **01/31/16** | $9976 | $10087 | $9984 |
| **02/29/16** | $10082 | $10311 | $10090 |
| **03/31/16** | $10912 | $10590 | $10947 |
| **04/30/16** | $11150 | $10731 | $11180 |
| **05/31/16** | $10616 | $10587 | $10652 |
| **06/30/16** | $11174 | $10896 | $11214 |
| **07/31/16** | $11279 | $10978 | $11336 |
| **08/31/16** | $11297 | $10925 | $11367 |
| **09/30/16** | $11441 | $10985 | $11517 |
| **10/31/16** | $11296 | $10680 | $11381 |
| **11/30/16** | $10580 | $10256 | $10654 |
| **12/31/16** | $10709 | $10209 | $10793 |
| **01/31/17** | $10994 | $10324 | $11084 |
| **02/28/17** | $11191 | $10372 | $11285 |
| **03/31/17** | $11368 | $10388 | $11475 |
| **04/30/17** | $11430 | $10506 | $11550 |
| **05/31/17** | $11639 | $10668 | $11767 |
| **06/30/17** | $11675 | $10659 | $11806 |
| **07/31/17** | $11948 | $10838 | $12087 |
| **08/31/17** | $12081 | $10945 | $12217 |
| **09/30/17** | $12047 | $10847 | $12193 |
| **10/31/17** | $11798 | $10806 | $11949 |
| **11/30/17** | $12010 | $10926 | $12184 |
| **12/31/17** | $12166 | $10964 | $12352 |
| **01/31/18** | $12562 | $11094 | $12760 |
| **02/28/18** | $12379 | $10996 | $12583 |
| **03/31/18** | $12494 | $11113 | $12709 |
| **04/30/18** | $12178 | $10935 | $12398 |
| **05/31/18** | $11653 | $10852 | $11863 |
| **06/30/18** | $11322 | $10804 | $11539 |
| **07/31/18** | $11486 | $10786 | $11713 |
| **08/31/18** | $10933 | $10797 | $11163 |
| **09/30/18** | $11125 | $10704 | $11363 |
| **10/31/18** | $11043 | $10584 | $11281 |
| **11/30/18** | $11245 | $10617 | $11504 |
| **12/31/18** | $11365 | $10832 | $11648 |
| **01/31/19** | $11874 | $10997 | $12178 |
| **02/28/19** | $11789 | $10934 | $12098 |
| **03/31/19** | $11650 | $11070 | $11964 |
| **04/30/19** | $11592 | $11038 | $11909 |
| **05/31/19** | $11584 | $11187 | $11904 |
| **06/30/19** | $12193 | $11435 | $12522 |
| **07/31/19** | $12335 | $11403 | $12680 |
| **08/31/19** | $12014 | $11635 | $12362 |
| **09/30/19** | $12088 | $11517 | $12442 |
| **10/31/19** | $12356 | $11594 | $12719 |
| **11/30/19** | $12165 | $11506 | $12535 |
| **12/31/19** | $12551 | $11573 | $12938 |
| **01/31/20** | $12436 | $11721 | $12824 |
| **02/29/20** | $12159 | $11799 | $12553 |
| **03/31/20** | $11155 | $11535 | $11530 |
| **04/30/20** | $11565 | $11761 | $11941 |
| **05/31/20** | $11942 | $11813 | $12333 |
| **06/30/20** | $12045 | $11918 | $12449 |
| **07/31/20** | $12361 | $12298 | $12790 |
| **08/31/20** | $12325 | $12279 | $12756 |
| **09/30/20** | $12153 | $12235 | $12583 |
| **10/31/20** | $12217 | $12247 | $12652 |
| **11/30/20** | $12746 | $12470 | $13205 |
| **12/31/20** | $13127 | $12637 | $13602 |
| **01/31/21** | $12964 | $12526 | $13447 |
| **02/28/21** | $12642 | $12310 | $13124 |
| **03/31/21** | $12250 | $12073 | $12722 |
| **04/30/21** | $12508 | $12226 | $12986 |
| **05/31/21** | $12700 | $12341 | $13213 |
| **06/30/21** | $12567 | $12232 | $13060 |
| **07/31/21** | $12519 | $12395 | $13032 |
| **08/31/21** | $12582 | $12343 | $13083 |
| **09/30/21** | $12141 | $12124 | $12636 |
| **10/31/21** | $12006 | $12094 | $12495 |
| **11/30/21** | $11757 | $12059 | $12242 |
| **12/31/21** | $11848 | $12042 | $12335 |
| **01/31/22** | $11791 | $11795 | $12282 |
| **02/28/22** | $11492 | $11655 | $11984 |
| **03/31/22** | $11127 | $11300 | $11459 |
| **04/30/22** | $10501 | $10681 | $10823 |
| **05/31/22** | $10606 | $10710 | $10921 |
| **06/30/22** | $10082 | $10367 | $10392 |
| **07/31/22** | $10170 | $10587 | $10479 |
| **08/31/22** | $10133 | $10169 | $10439 |
| **09/30/22** | $9552 | $9647 | $9850 |
| **10/31/22** | $9505 | $9580 | $9800 |
| **11/30/22** | $10204 | $10031 | $10501 |
| **12/31/22** | $10440 | $10086 | $10765 |
| **01/31/23** | $10947 | $10417 | $11287 |
| **02/28/23** | $10515 | $10070 | $10841 |
| **03/31/23** | $10919 | $10389 | $11255 |
| **04/30/23** | $10905 | $10435 | $11258 |
| **05/31/23** | $10838 | $10231 | $11183 |
| **06/30/23** | $10975 | $10230 | $11350 |
| **07/31/23** | $11216 | $10301 | $11594 |
| **08/31/23** | $10911 | $10160 | $11290 |
| **09/30/23** | $10527 | $9863 | $10899 |
| **10/31/23** | $10394 | $9745 | $10747 |
| **11/30/23** | $11034 | $10237 | $11416 |
| **12/31/23** | $11462 | $10662 | $11857 |
| **01/31/24** | $11233 | $10515 | $11631 |
| **02/29/24** | $11174 | $10383 | $11577 |
| **03/31/24** | $11131 | $10440 | $11545 |
| **04/30/24** | $10879 | $10176 | $11284 |
| **05/31/24** | $11038 | $10310 | $11451 |
| **06/30/24** | $10986 | $10325 | $11408 |
| **07/31/24** | $11238 | $10610 | $11667 |
| **08/31/24** | $11606 | $10861 | $12046 |
| **09/30/24** | $11937 | $11046 | $12402 |
| **10/31/24** | $11384 | $10675 | $11832 |
| **11/30/24** | $11393 | $10712 | $11847 |
| **12/31/24** | $11171 | $10482 | $11618 |
| **01/31/25** | $11413 | $10542 | $11868 |
| **02/28/25** | $11496 | $10692 | $11962 |
| **03/31/25** | $11541 | $10758 | $12019 |
| **04/30/25** | $11918 | $11074 | $12417 |
| **05/31/25** | $12080 | $11035 | $12596 |
| **06/30/25** | $12415 | $11244 | $12953 |
| **07/31/25** | $12273 | $11077 | $12813 |
| **08/31/25** | $12507 | $11238 | $13060 |
| **09/30/25** | $12599 | $11311 | $13171 |
| **10/31/25** | $12630 | $11282 | $13206 |
| **11/30/25** | $12684 | $11309 | $13271 |
| **12/31/25** | $12860 | $11338 | $13466 |

---

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **1 Year** | **5 Years** | **10 Years** |
| EBND | 15.12% | (0.41%) | 2.55% |
| Bloomberg Global Aggregate Bond Index | 8.17% | (2.15%) | 1.26% |
| Bloomberg EM Local Currency Government Diversified Index | 15.91% | (0.20%) | 3.02% |

---

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. Updated performance information is available by calling 1-866-787-2257 or visiting our website at www.ssga.com.**

## Key Fund Statistics as of 12/31/2025
* Total Net Assets$2,228,266,295

* Number of Portfolio Holdings626

* Portfolio Turnover Rate32%

* Total Advisory Fees Paid$6,035,926

## **What did the Fund invest in as of 12/31/2025 ?** (as a percentage of total net assets)

### Top Ten Countries

---

| | |
|:---|:---|
| **Countries** | **%** |
| China | 12.4% |
| South Korea | 10.7% |
| India | 7.1% |
| Malaysia | 5.9% |
| Mexico | 5.7% |
| Indonesia | 5.7% |
| Thailand | 4.6% |
| Brazil | 4.4% |
| South Africa | 4.4% |
| Poland | 4.3% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Brazil Notas do Tesouro Nacional, 10.00%, due 01/01/31 | 0.7% |
| Brazil Notas do Tesouro Nacional, 10.00%, due 01/01/29 | 0.7% |
| Republic of South Africa Government Bonds, 8.75%, due 01/31/44 | 0.7% |
| Mexico Bonos, 8.50%, due 03/01/29 | 0.6% |
| Mexico Bonos, 7.75%, due 05/29/31 | 0.6% |
| Republic of South Africa Government Bonds, 8.88%, due 02/28/35 | 0.6% |
| Peru Government Bonds, 6.90%, due 08/12/37 | 0.6% |
| Republic of South Africa Government Bonds, 9.00%, due 01/31/40 | 0.6% |
| Republic of South Africa Government Bonds, 8.25%, due 03/31/32 | 0.6% |
| Republic of South Africa Government Bonds, 8.50%, due 01/31/37 | 0.5% |

---

#### Availability of Additional Information
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and

proxy information please visit: www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs.

TSR AR EBND

# SPDR Bloomberg International Corporate Bond ETF
![Image](g58388g62j90.jpg)

# IBND

## Principal Listing Exchange: NYSE Arca Exchange

#### Annual Shareholder Report

#### December 31, 2025
This annual shareholder report contains important information about the SPDR Bloomberg International Corporate Bond ETF (the "Fund") for the period of January 1, 2025 through December 31, 2025. You can find additional information about the Fund, including the Prospectus, Statement of Additional Information, financial statements and other information at www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs. You can also request this information about the Fund by contacting us at 1-866-787-2257.

**What were the Fund costs for the last year? *(based on a hypothetical $10,000 Investment)***

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| SPDR Bloomberg International Corporate Bond ETF | $54 | 0.50% |

---

## How did the Fund perform last year and what affected its performance?
Global concerns around heightened inflation and changes in central bank policies were primary drivers of the Fund's performance during the reporting period. The Fund performed in line with expectations. In 2025, global central banks maintained an easing bias but at a slower and more uneven pace than in 2024. The U.S. Federal Reserve cut rates three times for a total of 75 basis points, while both the European Central Bank and the Bank of England delivered four cuts each, totaling 100 basis points. The Bank of Japan was an exception, raising rates twice. Global bonds rallied, supported by gradual policy easing and elevated starting yields. Persistent uncertainty around U.S. tariff policy and data-quality gaps kept investors cautious about the forward path of interest rates. Corporate spreads remained near historic lows, supported by resilient credit fundamentals.

## Fund Performance
The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains.

### **Comparison of Change in Value of a $10,000 Investment** 

### (Based on Net Asset Value)
![Growth of 10K Chart](g58388g76k20.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **IBND** | **Bloomberg Global Aggregate Bond Index** | **Bloomberg Global Aggregate ex-USD >$1B: Corporate Bond Index** |
| **12/31/15** | $10000 | $10000 | $10000 |
| **01/31/16** | $9998 | $10087 | $10007 |
| **02/29/16** | $10041 | $10311 | $10059 |
| **03/31/16** | $10658 | $10590 | $10677 |
| **04/30/16** | $10743 | $10731 | $10765 |
| **05/31/16** | $10508 | $10587 | $10537 |
| **06/30/16** | $10541 | $10896 | $10574 |
| **07/31/16** | $10803 | $10978 | $10834 |
| **08/31/16** | $10811 | $10925 | $10835 |
| **09/30/16** | $10840 | $10985 | $10873 |
| **10/31/16** | $10379 | $10680 | $10427 |
| **11/30/16** | $9985 | $10256 | $10033 |
| **12/31/16** | $9999 | $10209 | $10052 |
| **01/31/17** | $10151 | $10324 | $10214 |
| **02/28/17** | $10125 | $10372 | $10190 |
| **03/31/17** | $10146 | $10388 | $10216 |
| **04/30/17** | $10382 | $10506 | $10458 |
| **05/31/17** | $10719 | $10668 | $10800 |
| **06/30/17** | $10780 | $10659 | $10865 |
| **07/31/17** | $11199 | $10838 | $11291 |
| **08/31/17** | $11321 | $10945 | $11419 |
| **09/30/17** | $11248 | $10847 | $11351 |
| **10/31/17** | $11182 | $10806 | $11292 |
| **11/30/17** | $11415 | $10926 | $11531 |
| **12/31/17** | $11475 | $10964 | $11600 |
| **01/31/18** | $11868 | $11094 | $12001 |
| **02/28/18** | $11594 | $10996 | $11725 |
| **03/31/18** | $11698 | $11113 | $11836 |
| **04/30/18** | $11488 | $10935 | $11628 |
| **05/31/18** | $11081 | $10852 | $11222 |
| **06/30/18** | $11072 | $10804 | $11213 |
| **07/31/18** | $11099 | $10786 | $11245 |
| **08/31/18** | $11041 | $10797 | $11190 |
| **09/30/18** | $10982 | $10704 | $11134 |
| **10/31/18** | $10704 | $10584 | $10857 |
| **11/30/18** | $10606 | $10617 | $10767 |
| **12/31/18** | $10742 | $10832 | $10912 |
| **01/31/19** | $10935 | $10997 | $11110 |
| **02/28/19** | $10928 | $10934 | $11107 |
| **03/31/19** | $10931 | $11070 | $11112 |
| **04/30/19** | $10963 | $11038 | $11151 |
| **05/31/19** | $10860 | $11187 | $11050 |
| **06/30/19** | $11248 | $11435 | $11449 |
| **07/31/19** | $11143 | $11403 | $11353 |
| **08/31/19** | $11100 | $11635 | $11312 |
| **09/30/19** | $10930 | $11517 | $11146 |
| **10/31/19** | $11194 | $11594 | $11415 |
| **11/30/19** | $11036 | $11506 | $11259 |
| **12/31/19** | $11231 | $11573 | $11461 |
| **01/31/20** | $11241 | $11721 | $11478 |
| **02/29/20** | $11049 | $11799 | $11287 |
| **03/31/20** | $10252 | $11535 | $10492 |
| **04/30/20** | $10751 | $11761 | $11003 |
| **05/31/20** | $10900 | $11813 | $11156 |
| **06/30/20** | $11115 | $11918 | $11379 |
| **07/31/20** | $11891 | $12298 | $12176 |
| **08/31/20** | $12009 | $12279 | $12305 |
| **09/30/20** | $11783 | $12235 | $12080 |
| **10/31/20** | $11789 | $12247 | $12090 |
| **11/30/20** | $12234 | $12470 | $12546 |
| **12/31/20** | $12544 | $12637 | $12871 |
| **01/31/21** | $12414 | $12526 | $12747 |
| **02/28/21** | $12278 | $12310 | $12604 |
| **03/31/21** | $11918 | $12073 | $12242 |
| **04/30/21** | $12183 | $12226 | $12517 |
| **05/31/21** | $12324 | $12341 | $12711 |
| **06/30/21** | $12051 | $12232 | $12392 |
| **07/31/21** | $12200 | $12395 | $12550 |
| **08/31/21** | $12075 | $12343 | $12427 |
| **09/30/21** | $11748 | $12124 | $12095 |
| **10/31/21** | $11686 | $12094 | $12033 |
| **11/30/21** | $11392 | $12059 | $11740 |
| **12/31/21** | $11489 | $12042 | $11845 |
| **01/31/22** | $11152 | $11795 | $11502 |
| **02/28/22** | $10911 | $11655 | $11255 |
| **03/31/22** | $10682 | $11300 | $11022 |
| **04/30/22** | $9834 | $10681 | $10153 |
| **05/31/22** | $9867 | $10710 | $10195 |
| **06/30/22** | $9317 | $10367 | $9625 |
| **07/31/22** | $9510 | $10587 | $9839 |
| **08/31/22** | $8898 | $10169 | $9205 |
| **09/30/22** | $8326 | $9647 | $8631 |
| **10/31/22** | $8480 | $9580 | $8780 |
| **11/30/22** | $9054 | $10031 | $9379 |
| **12/31/22** | $9207 | $10086 | $9524 |
| **01/31/23** | $9558 | $10417 | $9910 |
| **02/28/23** | $9172 | $10070 | $9515 |
| **03/31/23** | $9515 | $10389 | $9881 |
| **04/30/23** | $9715 | $10435 | $10089 |
| **05/31/23** | $9388 | $10231 | $9752 |
| **06/30/23** | $9545 | $10230 | $9918 |
| **07/31/23** | $9757 | $10301 | $10143 |
| **08/31/23** | $9607 | $10160 | $9990 |
| **09/30/23** | $9282 | $9863 | $9653 |
| **10/31/23** | $9297 | $9745 | $9670 |
| **11/30/23** | $9831 | $10237 | $10227 |
| **12/31/23** | $10231 | $10662 | $10644 |
| **01/31/24** | $10062 | $10515 | $10473 |
| **02/29/24** | $9925 | $10383 | $10332 |
| **03/31/24** | $10027 | $10440 | $10442 |
| **04/30/24** | $9824 | $10176 | $10233 |
| **05/31/24** | $10000 | $10310 | $10422 |
| **06/30/24** | $9945 | $10325 | $10358 |
| **07/31/24** | $10215 | $10610 | $10648 |
| **08/31/24** | $10478 | $10861 | $10924 |
| **09/30/24** | $10694 | $11046 | $11152 |
| **10/31/24** | $10322 | $10675 | $10778 |
| **11/30/24** | $10226 | $10712 | $10669 |
| **12/31/24** | $9972 | $10482 | $10409 |
| **01/31/25** | $10059 | $10542 | $10500 |
| **02/28/25** | $10119 | $10692 | $10567 |
| **03/31/25** | $10389 | $10758 | $10839 |
| **04/30/25** | $11017 | $11074 | $11511 |
| **05/31/25** | $11068 | $11035 | $11565 |
| **06/30/25** | $11461 | $11244 | $11981 |
| **07/31/25** | $11206 | $11077 | $11720 |
| **08/31/25** | $11440 | $11238 | $11969 |
| **09/30/25** | $11523 | $11311 | $12061 |
| **10/31/25** | $11403 | $11282 | $11940 |
| **11/30/25** | $11437 | $11309 | $11978 |
| **12/31/25** | $11545 | $11338 | $12097 |

---

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **1 Year** | **5 Years** | **10 Years** |
| IBND | 15.78% | (1.65%) | 1.45% |
| Bloomberg Global Aggregate Bond Index | 8.17% | (2.15%) | 1.26% |
| Bloomberg Global Aggregate ex-USD >$1B: Corporate Bond Index | 16.21% | (1.23%) | 1.92% |

---

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. Updated performance information is available by calling 1-866-787-2257 or visiting our website at www.ssga.com.**

## Key Fund Statistics as of 12/31/2025
* Total Net Assets$398,719,414

* Number of Portfolio Holdings928

* Portfolio Turnover Rate29%

* Total Advisory Fees Paid$1,642,523

## **What did the Fund invest in as of 12/31/2025 ?** (as a percentage of total net assets)

### Top Ten Countries

---

| | |
|:---|:---|
| **Countries** | **%** |
| United States | 28.1% |
| France | 21.1% |
| United Kingdom | 9.9% |
| Germany | 9.7% |
| Spain | 5.4% |
| Italy | 5.2% |
| Netherlands | 4.5% |
| Switzerland | 2.9% |
| Japan | 2.0% |
| Belgium | 2.0% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| NTT Finance Corp., 0.38%, due 09/20/30 | 0.3% |
| JPMorgan Chase & Co., 1.96%, due 03/23/30 | 0.3% |
| Banco Santander SA, 3.25%, due 04/02/29 | 0.3% |
| Morgan Stanley, 4.66%, due 03/02/29 | 0.3% |
| Banco Santander SA, 4.88%, due 10/18/31 | 0.3% |
| UBS Group AG, 7.75%, due 03/01/29 | 0.2% |
| Anheuser-Busch InBev SA, 2.00%, due 03/17/28 | 0.2% |
| Novartis Finance SA, due 09/23/28 | 0.2% |
| Volkswagen International Finance NV, 1.88%, due 03/30/27 | 0.2% |
| Credit Agricole SA, 1.75%, due 03/05/29 | 0.2% |

---

#### Availability of Additional Information
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and

proxy information please visit: www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs.

TSR AR IBND

# SPDR Bloomberg International Treasury Bond ETF
![Image](g58388g62j90.jpg)

# BWX

## Principal Listing Exchange: NYSE Arca Exchange

#### Annual Shareholder Report

#### December 31, 2025
This annual shareholder report contains important information about the SPDR Bloomberg International Treasury Bond ETF (the "Fund") for the period of January 1, 2025 through December 31, 2025. You can find additional information about the Fund, including the Prospectus, Statement of Additional Information, financial statements and other information at www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs. You can also request this information about the Fund by contacting us at 1-866-787-2257.

**What were the Fund costs for the last year? *(based on a hypothetical $10,000 Investment)***

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| SPDR Bloomberg International Treasury Bond ETF | $36 | 0.35% |

---

## How did the Fund perform last year and what affected its performance?
Global concerns around heightened inflation and changes in central bank policies were primary drivers of the Fund's performance during the reporting period. The Fund performed in line with expectations.

In 2025, global central banks maintained an easing bias but at a slower and more uneven pace than in 2024. The U.S. Federal Reserve cut rates three times for a total of 75 basis points, while both the European central bank and the Bank of England delivered four cuts each, totaling 100 basis points. The Bank of Japan was an exception, raising rates twice. Global Treasuries delivered positive, income-led returns in 2025, supported by gradual policy easing and elevated starting yields. Persistent uncertainty around U.S. tariff policy and data-quality gaps kept investors cautious about the forward path of interest rates.

## Fund Performance
The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains.

### **Comparison of Change in Value of a $10,000 Investment** 

### (Based on Net Asset Value)
![Growth of 10K Chart](g58388g71j35.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **BWX** | **Bloomberg Global Aggregate Bond Index** | **Bloomberg Global Treasury Ex-US Capped Index** |
| **12/31/15** | $10000 | $10000 | $10000 |
| **01/31/16** | $10063 | $10087 | $10070 |
| **02/29/16** | $10376 | $10311 | $10384 |
| **03/31/16** | $10849 | $10590 | $10863 |
| **04/30/16** | $10997 | $10731 | $11018 |
| **05/31/16** | $10708 | $10587 | $10734 |
| **06/30/16** | $11129 | $10896 | $11160 |
| **07/31/16** | $11219 | $10978 | $11261 |
| **08/31/16** | $11132 | $10925 | $11172 |
| **09/30/16** | $11235 | $10985 | $11281 |
| **10/31/16** | $10754 | $10680 | $10806 |
| **11/30/16** | $10187 | $10256 | $10240 |
| **12/31/16** | $10103 | $10209 | $10158 |
| **01/31/17** | $10273 | $10324 | $10335 |
| **02/28/17** | $10324 | $10372 | $10391 |
| **03/31/17** | $10357 | $10388 | $10430 |
| **04/30/17** | $10484 | $10506 | $10562 |
| **05/31/17** | $10724 | $10668 | $10809 |
| **06/30/17** | $10727 | $10659 | $10816 |
| **07/31/17** | $11003 | $10838 | $11099 |
| **08/31/17** | $11118 | $10945 | $11224 |
| **09/30/17** | $10969 | $10847 | $11079 |
| **10/31/17** | $10867 | $10806 | $10981 |
| **11/30/17** | $11098 | $10926 | $11219 |
| **12/31/17** | $11128 | $10964 | $11257 |
| **01/31/18** | $11452 | $11094 | $11589 |
| **02/28/18** | $11331 | $10996 | $11470 |
| **03/31/18** | $11512 | $11113 | $11658 |
| **04/30/18** | $11243 | $10935 | $11390 |
| **05/31/18** | $11028 | $10852 | $11179 |
| **06/30/18** | $10943 | $10804 | $11097 |
| **07/31/18** | $10922 | $10786 | $11080 |
| **08/31/18** | $10872 | $10797 | $11034 |
| **09/30/18** | $10777 | $10704 | $10940 |
| **10/31/18** | $10598 | $10584 | $10760 |
| **11/30/18** | $10660 | $10617 | $10826 |
| **12/31/18** | $10876 | $10832 | $11051 |
| **01/31/19** | $11093 | $10997 | $11276 |
| **02/28/19** | $10976 | $10934 | $11159 |
| **03/31/19** | $11063 | $11070 | $11249 |
| **04/30/19** | $10983 | $11038 | $11169 |
| **05/31/19** | $11097 | $11187 | $11290 |
| **06/30/19** | $11466 | $11435 | $11668 |
| **07/31/19** | $11404 | $11403 | $11611 |
| **08/31/19** | $11578 | $11635 | $11790 |
| **09/30/19** | $11431 | $11517 | $11646 |
| **10/31/19** | $11532 | $11594 | $11753 |
| **11/30/19** | $11364 | $11506 | $11587 |
| **12/31/19** | $11489 | $11573 | $11719 |
| **01/31/20** | $11560 | $11721 | $11797 |
| **02/29/20** | $11526 | $11799 | $11767 |
| **03/31/20** | $11109 | $11535 | $11349 |
| **04/30/20** | $11342 | $11761 | $11589 |
| **05/31/20** | $11441 | $11813 | $11687 |
| **06/30/20** | $11563 | $11918 | $11815 |
| **07/31/20** | $12055 | $12298 | $12319 |
| **08/31/20** | $12065 | $12279 | $12334 |
| **09/30/20** | $11998 | $12235 | $12268 |
| **10/31/20** | $12047 | $12247 | $12324 |
| **11/30/20** | $12343 | $12470 | $12628 |
| **12/31/20** | $12607 | $12637 | $12906 |
| **01/31/21** | $12440 | $12526 | $12739 |
| **02/28/21** | $12129 | $12310 | $12427 |
| **03/31/21** | $11821 | $12073 | $12114 |
| **04/30/21** | $11997 | $12226 | $12299 |
| **05/31/21** | $12091 | $12341 | $12439 |
| **06/30/21** | $11894 | $12232 | $12201 |
| **07/31/21** | $12053 | $12395 | $12372 |
| **08/31/21** | $11988 | $12343 | $12307 |
| **09/30/21** | $11649 | $12124 | $11968 |
| **10/31/21** | $11585 | $12094 | $11898 |
| **11/30/21** | $11493 | $12059 | $11807 |
| **12/31/21** | $11471 | $12042 | $11787 |
| **01/31/22** | $11219 | $11795 | $11536 |
| **02/28/22** | $11079 | $11655 | $11396 |
| **03/31/22** | $10666 | $11300 | $10971 |
| **04/30/22** | $9904 | $10681 | $10189 |
| **05/31/22** | $9910 | $10710 | $10199 |
| **06/30/22** | $9432 | $10367 | $9712 |
| **07/31/22** | $9642 | $10587 | $9930 |
| **08/31/22** | $9164 | $10169 | $9440 |
| **09/30/22** | $8581 | $9647 | $8849 |
| **10/31/22** | $8571 | $9580 | $8837 |
| **11/30/22** | $9122 | $10031 | $9407 |
| **12/31/22** | $9216 | $10086 | $9495 |
| **01/31/23** | $9562 | $10417 | $9866 |
| **02/28/23** | $9130 | $10070 | $9426 |
| **03/31/23** | $9513 | $10389 | $9829 |
| **04/30/23** | $9520 | $10435 | $9845 |
| **05/31/23** | $9283 | $10231 | $9598 |
| **06/30/23** | $9329 | $10230 | $9647 |
| **07/31/23** | $9436 | $10301 | $9760 |
| **08/31/23** | $9219 | $10160 | $9540 |
| **09/30/23** | $8866 | $9863 | $9179 |
| **10/31/23** | $8745 | $9745 | $9053 |
| **11/30/23** | $9281 | $10237 | $9611 |
| **12/31/23** | $9743 | $10662 | $10089 |
| **01/31/24** | $9469 | $10515 | $9810 |
| **02/29/24** | $9337 | $10383 | $9676 |
| **03/31/24** | $9352 | $10440 | $9691 |
| **04/30/24** | $9048 | $10176 | $9382 |
| **05/31/24** | $9127 | $10310 | $9468 |
| **06/30/24** | $9061 | $10325 | $9403 |
| **07/31/24** | $9381 | $10610 | $9736 |
| **08/31/24** | $9710 | $10861 | $10079 |
| **09/30/24** | $9925 | $11046 | $10309 |
| **10/31/24** | $9432 | $10675 | $9799 |
| **11/30/24** | $9446 | $10712 | $9814 |
| **12/31/24** | $9125 | $10482 | $9486 |
| **01/31/25** | $9190 | $10542 | $9551 |
| **02/28/25** | $9291 | $10692 | $9659 |
| **03/31/25** | $9370 | $10758 | $9744 |
| **04/30/25** | $9889 | $11074 | $10286 |
| **05/31/25** | $9862 | $11035 | $10264 |
| **06/30/25** | $10077 | $11244 | $10488 |
| **07/31/25** | $9788 | $11077 | $10194 |
| **08/31/25** | $9964 | $11238 | $10379 |
| **09/30/25** | $9989 | $11311 | $10409 |
| **10/31/25** | $9857 | $11282 | $10272 |
| **11/30/25** | $9808 | $11309 | $10226 |
| **12/31/25** | $9842 | $11338 | $10265 |

---

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **1 Year** | **5 Years** | **10 Years** |
| BWX | 7.86% | (4.83%) | (0.16%) |
| Bloomberg Global Aggregate Bond Index | 8.17% | (2.15%) | 1.26% |
| Bloomberg Global Treasury Ex-US Capped Index | 8.20% | (4.48%) | 0.26% |

---

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. Updated performance information is available by calling 1-866-787-2257 or visiting our website at www.ssga.com.**

## Key Fund Statistics as of 12/31/2025
* Total Net Assets$1,302,166,341

* Number of Portfolio Holdings1,313

* Portfolio Turnover Rate16%

* Total Advisory Fees Paid$4,438,852

## **What did the Fund invest in as of 12/31/2025 ?** (as a percentage of total net assets)

### Top Ten Countries

---

| | |
|:---|:---|
| **Countries** | **%** |
| Japan | 22.9% |
| United Kingdom | 5.1% |
| France | 4.9% |
| South Korea | 4.6% |
| China | 4.6% |
| Canada | 4.6% |
| Italy | 4.6% |
| Spain | 4.5% |
| Germany | 4.5% |
| Australia | 3.8% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Kingdom of Belgium Government Bonds, 5.50%, due 03/28/28 | 0.3% |
| Japan Government Ten Year Bonds, 1.50%, due 06/20/35 | 0.3% |
| Japan Government Ten Year Bonds, 1.40%, due 03/20/35 | 0.3% |
| Kingdom of Belgium Government Bonds, 5.00%, due 03/28/35 | 0.3% |
| Japan Government Ten Year Bonds, 1.70%, due 09/20/35 | 0.3% |
| China Government Bonds, 4.08%, due 10/22/48 | 0.3% |
| Japan Government Five Year Bonds, 1.00%, due 03/20/30 | 0.3% |
| Japan Government Ten Year Bonds, 1.20%, due 12/20/34 | 0.3% |
| Japan Government Five Year Bonds, 0.50%, due 06/20/29 | 0.3% |
| Japan Government Ten Year Bonds, 0.20%, due 09/20/32 | 0.3% |

---

#### Availability of Additional Information
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and

proxy information please visit: www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs.

TSR AR BWX

# SPDR Bloomberg Short Term International Treasury Bond ETF
![Image](g58388g62j90.jpg)

# BWZ

## Principal Listing Exchange: NYSE Arca Exchange

#### Annual Shareholder Report

#### December 31, 2025
This annual shareholder report contains important information about the SPDR Bloomberg Short Term International Treasury Bond ETF (the "Fund") for the period of January 1, 2025 through December 31, 2025. You can find additional information about the Fund, including the Prospectus, Statement of Additional Information, financial statements and other information at www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs. You can also request this information about the Fund by contacting us at 1-866-787-2257.

**What were the Fund costs for the last year? *(based on a hypothetical $10,000 Investment)***

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| SPDR Bloomberg Short Term International Treasury Bond ETF | $37 | 0.35% |

---

## How did the Fund perform last year and what affected its performance?
Global concerns around heightened inflation and changes in central bank policies were primary drivers of the Fund's performance during the reporting period. The Fund performed in line with expectations.

In 2025, global central banks maintained an easing bias but at a slower and more uneven pace than in 2024. The U.S. Federal Reserve cut rates three times for a total of 75 basis points, while both the European Central Bank and the Bank of England delivered four cuts each, totaling 100 basis points. The Bank of Japan was an exception, raising rates twice. Global Treasuries delivered positive, income-led returns in 2025, supported by gradual policy easing and elevated starting yields. Persistent uncertainty around U.S. tariff policy and data-quality gaps kept investors cautious about the forward path of interest rates.

## Fund Performance
The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains.

### **Comparison of Change in Value of a $10,000 Investment** 

### (Based on Net Asset Value)
![Growth of 10K Chart](g58388g66v13.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **BWZ** | **Bloomberg Global Aggregate Bond Index** | **Bloomberg 1-3 Year Global Treasury ex-U.S. Capped Index** |
| **12/31/15** | $10000 | $10000 | $10000 |
| **01/31/16** | $9912 | $10087 | $9917 |
| **02/29/16** | $10119 | $10311 | $10126 |
| **03/31/16** | $10540 | $10590 | $10556 |
| **04/30/16** | $10718 | $10731 | $10738 |
| **05/31/16** | $10350 | $10587 | $10377 |
| **06/30/16** | $10577 | $10896 | $10608 |
| **07/31/16** | $10622 | $10978 | $10658 |
| **08/31/16** | $10565 | $10925 | $10606 |
| **09/30/16** | $10674 | $10985 | $10721 |
| **10/31/16** | $10381 | $10680 | $10431 |
| **11/30/16** | $9955 | $10256 | $10006 |
| **12/31/16** | $9861 | $10209 | $9916 |
| **01/31/17** | $10136 | $10324 | $10195 |
| **02/28/17** | $10111 | $10372 | $10174 |
| **03/31/17** | $10170 | $10388 | $10237 |
| **04/30/17** | $10245 | $10506 | $10316 |
| **05/31/17** | $10457 | $10668 | $10533 |
| **06/30/17** | $10510 | $10659 | $10590 |
| **07/31/17** | $10788 | $10838 | $10872 |
| **08/31/17** | $10827 | $10945 | $10919 |
| **09/30/17** | $10734 | $10847 | $10829 |
| **10/31/17** | $10603 | $10806 | $10700 |
| **11/30/17** | $10798 | $10926 | $10902 |
| **12/31/17** | $10843 | $10964 | $10952 |
| **01/31/18** | $11212 | $11094 | $11327 |
| **02/28/18** | $11078 | $10996 | $11195 |
| **03/31/18** | $11149 | $11113 | $11269 |
| **04/30/18** | $10930 | $10935 | $11052 |
| **05/31/18** | $10703 | $10852 | $10829 |
| **06/30/18** | $10605 | $10804 | $10730 |
| **07/31/18** | $10621 | $10786 | $10749 |
| **08/31/18** | $10571 | $10797 | $10703 |
| **09/30/18** | $10528 | $10704 | $10661 |
| **10/31/18** | $10346 | $10584 | $10479 |
| **11/30/18** | $10372 | $10617 | $10510 |
| **12/31/18** | $10500 | $10832 | $10644 |
| **01/31/19** | $10639 | $10997 | $10790 |
| **02/28/19** | $10524 | $10934 | $10676 |
| **03/31/19** | $10466 | $11070 | $10619 |
| **04/30/19** | $10419 | $11038 | $10573 |
| **05/31/19** | $10414 | $11187 | $10573 |
| **06/30/19** | $10631 | $11435 | $10800 |
| **07/31/19** | $10475 | $11403 | $10646 |
| **08/31/19** | $10429 | $11635 | $10602 |
| **09/30/19** | $10357 | $11517 | $10533 |
| **10/31/19** | $10527 | $11594 | $10710 |
| **11/30/19** | $10405 | $11506 | $10588 |
| **12/31/19** | $10593 | $11573 | $10783 |
| **01/31/20** | $10490 | $11721 | $10683 |
| **02/29/20** | $10382 | $11799 | $10580 |
| **03/31/20** | $10181 | $11535 | $10381 |
| **04/30/20** | $10276 | $11761 | $10484 |
| **05/31/20** | $10354 | $11813 | $10568 |
| **06/30/20** | $10451 | $11918 | $10667 |
| **07/31/20** | $10834 | $12298 | $11063 |
| **08/31/20** | $10932 | $12279 | $11167 |
| **09/30/20** | $10793 | $12235 | $11028 |
| **10/31/20** | $10812 | $12247 | $11052 |
| **11/30/20** | $11070 | $12470 | $11319 |
| **12/31/20** | $11281 | $12637 | $11539 |
| **01/31/21** | $11188 | $12526 | $11448 |
| **02/28/21** | $11124 | $12310 | $11385 |
| **03/31/21** | $10837 | $12073 | $11093 |
| **04/30/21** | $11031 | $12226 | $11297 |
| **05/31/21** | $11112 | $12341 | $11421 |
| **06/30/21** | $10890 | $12232 | $11159 |
| **07/31/21** | $10894 | $12395 | $11168 |
| **08/31/21** | $10862 | $12343 | $11140 |
| **09/30/21** | $10676 | $12124 | $10952 |
| **10/31/21** | $10647 | $12094 | $10926 |
| **11/30/21** | $10450 | $12059 | $10729 |
| **12/31/21** | $10501 | $12042 | $10784 |
| **01/31/22** | $10378 | $11795 | $10662 |
| **02/28/22** | $10353 | $11655 | $10645 |
| **03/31/22** | $10107 | $11300 | $10385 |
| **04/30/22** | $9567 | $10681 | $9833 |
| **05/31/22** | $9660 | $10710 | $9929 |
| **06/30/22** | $9305 | $10367 | $9567 |
| **07/31/22** | $9297 | $10587 | $9565 |
| **08/31/22** | $9041 | $10169 | $9304 |
| **09/30/22** | $8642 | $9647 | $8904 |
| **10/31/22** | $8643 | $9580 | $8907 |
| **11/30/22** | $9064 | $10031 | $9345 |
| **12/31/22** | $9338 | $10086 | $9630 |
| **01/31/23** | $9574 | $10417 | $9879 |
| **02/28/23** | $9233 | $10070 | $9529 |
| **03/31/23** | $9482 | $10389 | $9792 |
| **04/30/23** | $9490 | $10435 | $9806 |
| **05/31/23** | $9273 | $10231 | $9585 |
| **06/30/23** | $9308 | $10230 | $9627 |
| **07/31/23** | $9475 | $10301 | $9803 |
| **08/31/23** | $9294 | $10160 | $9620 |
| **09/30/23** | $9086 | $9863 | $9409 |
| **10/31/23** | $9027 | $9745 | $9349 |
| **11/30/23** | $9381 | $10237 | $9719 |
| **12/31/23** | $9664 | $10662 | $10016 |
| **01/31/24** | $9458 | $10515 | $9806 |
| **02/29/24** | $9353 | $10383 | $9699 |
| **03/31/24** | $9332 | $10440 | $9682 |
| **04/30/24** | $9148 | $10176 | $9494 |
| **05/31/24** | $9263 | $10310 | $9616 |
| **06/30/24** | $9172 | $10325 | $9524 |
| **07/31/24** | $9406 | $10610 | $9770 |
| **08/31/24** | $9693 | $10861 | $10076 |
| **09/30/24** | $9873 | $11046 | $10266 |
| **10/31/24** | $9466 | $10675 | $9846 |
| **11/30/24** | $9404 | $10712 | $9784 |
| **12/31/24** | $9162 | $10482 | $9535 |
| **01/31/25** | $9242 | $10542 | $9620 |
| **02/28/25** | $9331 | $10692 | $9716 |
| **03/31/25** | $9523 | $10758 | $9917 |
| **04/30/25** | $9979 | $11074 | $10397 |
| **05/31/25** | $10001 | $11035 | $10424 |
| **06/30/25** | $10212 | $11244 | $10643 |
| **07/31/25** | $9960 | $11077 | $10384 |
| **08/31/25** | $10167 | $11238 | $10602 |
| **09/30/25** | $10179 | $11311 | $10618 |
| **10/31/25** | $10009 | $11282 | $10444 |
| **11/30/25** | $10016 | $11309 | $10455 |
| **12/31/25** | $10117 | $11338 | $10563 |

---

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **1 Year** | **5 Years** | **10 Years** |
| BWZ | 10.42% | (2.16%) | 0.12% |
| Bloomberg Global Aggregate Bond Index | 8.17% | (2.15%) | 1.26% |
| Bloomberg 1-3 Year Global Treasury ex-U.S. Capped Index | 10.79% | (1.75%) | 0.55% |

---

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. Updated performance information is available by calling 1-866-787-2257 or visiting our website at www.ssga.com.**

## Key Fund Statistics as of 12/31/2025
* Total Net Assets$348,093,326

* Number of Portfolio Holdings262

* Portfolio Turnover Rate61%

* Total Advisory Fees Paid$1,128,465

## **What did the Fund invest in as of 12/31/2025 ?** (as a percentage of total net assets)

### Top Ten Countries

---

| | |
|:---|:---|
| **Countries** | **%** |
| Japan | 22.9% |
| France | 5.0% |
| Germany | 4.8% |
| South Korea | 4.6% |
| Canada | 4.6% |
| China | 4.6% |
| United Kingdom | 4.6% |
| Spain | 4.6% |
| Italy | 4.6% |
| Australia | 4.4% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Kingdom of Belgium Government Bonds, 5.50%, due 03/28/28 | 1.5% |
| Japan Government Ten Year Bonds, 0.10%, due 03/20/28 | 1.3% |
| Australia Government Bonds, 4.75%, due 04/21/27 | 1.3% |
| Australia Government Bonds, 2.75%, due 11/21/28 | 1.2% |
| Australia Government Bonds, 2.25%, due 05/21/28 | 1.1% |
| Japan Government Ten Year Bonds, 0.10%, due 06/20/27 | 1.1% |
| Japan Government Ten Year Bonds, 0.10%, due 03/20/27 | 1.1% |
| Japan Government Ten Year Bonds, 0.10%, due 06/20/28 | 1.0% |
| Japan Government Ten Year Bonds, 0.10%, due 09/20/27 | 1.0% |
| Japan Government Ten Year Bonds, 0.10%, due 12/20/27 | 1.0% |

---

#### Availability of Additional Information
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and

proxy information please visit: www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs.

TSR AR BWZ

# SPDR FTSE International Government Inflation-Protected Bond ETF
![Image](g58388g62j90.jpg)

# WIP

## Principal Listing Exchange: NYSE Arca Exchange

#### Annual Shareholder Report

#### December 31, 2025
This annual shareholder report contains important information about the SPDR FTSE International Government Inflation-Protected Bond ETF (the "Fund") for the period of January 1, 2025 through December 31, 2025. You can find additional information about the Fund, including the Prospectus, Statement of Additional Information, financial statements and other information at www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs. You can also request this information about the Fund by contacting us at 1-866-787-2257.

**What were the Fund costs for the last year? *(based on a hypothetical $10,000 Investment)***

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| SPDR FTSE International Government Inflation-Protected Bond ETF | $54 | 0.50% |

---

## How did the Fund perform last year and what affected its performance?
Global concerns around heightened inflation and changes in central bank policies were primary drivers of the Fund's performance during the reporting period. The Fund performed in line with expectations. In 2025, global central banks maintained an easing bias but at a slower and more uneven pace than in 2024. The U.S. Federal Reserve cut rates three times for a total of 75 basis points, while both the European Central Bank and the Bank of England delivered four cuts each, totaling 100 basis points. The Bank of Japan was an exception, raising rates twice. Global Treasuries delivered positive, income-led returns in 2025, supported by gradual policy easing and elevated starting yields. Persistent uncertainty around U.S. tariff policy and data-quality gaps kept investors cautious about the forward path of interest rates.

## Fund Performance
The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains.

### **Comparison of Change in Value of a $10,000 Investment** 

### (Based on Net Asset Value)
![Growth of 10K Chart](g58388g87g20.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **WIP** | **Bloomberg Global Aggregate Bond Index** | **FTSE International Inflation-Linked Securities Select Index** |
| **12/31/15** | $10000 | $10000 | $10000 |
| **01/31/16** | $9967 | $10087 | $9973 |
| **02/29/16** | $10039 | $10311 | $10065 |
| **03/31/16** | $10701 | $10590 | $10706 |
| **04/30/16** | $10847 | $10731 | $10859 |
| **05/31/16** | $10546 | $10587 | $10563 |
| **06/30/16** | $10889 | $10896 | $10912 |
| **07/31/16** | $11024 | $10978 | $11054 |
| **08/31/16** | $11159 | $10925 | $11189 |
| **09/30/16** | $11233 | $10985 | $11266 |
| **10/31/16** | $10898 | $10680 | $10945 |
| **11/30/16** | $10361 | $10256 | $10419 |
| **12/31/16** | $10515 | $10209 | $10576 |
| **01/31/17** | $10739 | $10324 | $10804 |
| **02/28/17** | $10845 | $10372 | $10911 |
| **03/31/17** | $10857 | $10388 | $10928 |
| **04/30/17** | $11081 | $10506 | $11158 |
| **05/31/17** | $11179 | $10668 | $11262 |
| **06/30/17** | $11149 | $10659 | $11237 |
| **07/31/17** | $11424 | $10838 | $11515 |
| **08/31/17** | $11597 | $10945 | $11698 |
| **09/30/17** | $11508 | $10847 | $11614 |
| **10/31/17** | $11331 | $10806 | $11441 |
| **11/30/17** | $11518 | $10926 | $11635 |
| **12/31/17** | $11736 | $10964 | $11865 |
| **01/31/18** | $12135 | $11094 | $12268 |
| **02/28/18** | $11916 | $10996 | $12046 |
| **03/31/18** | $12117 | $11113 | $12255 |
| **04/30/18** | $11763 | $10935 | $11900 |
| **05/31/18** | $11414 | $10852 | $11549 |
| **06/30/18** | $11284 | $10804 | $11425 |
| **07/31/18** | $11367 | $10786 | $11511 |
| **08/31/18** | $10953 | $10797 | $11101 |
| **09/30/18** | $11040 | $10704 | $11189 |
| **10/31/18** | $10965 | $10584 | $11114 |
| **11/30/18** | $10922 | $10617 | $11078 |
| **12/31/18** | $11043 | $10832 | $11205 |
| **01/31/19** | $11480 | $10997 | $11649 |
| **02/28/19** | $11359 | $10934 | $11536 |
| **03/31/19** | $11414 | $11070 | $11594 |
| **04/30/19** | $11373 | $11038 | $11564 |
| **05/31/19** | $11437 | $11187 | $11634 |
| **06/30/19** | $11824 | $11435 | $12035 |
| **07/31/19** | $11877 | $11403 | $12094 |
| **08/31/19** | $11852 | $11635 | $12074 |
| **09/30/19** | $11834 | $11517 | $12058 |
| **10/31/19** | $11943 | $11594 | $12176 |
| **11/30/19** | $11728 | $11506 | $11941 |
| **12/31/19** | $12010 | $11573 | $12234 |
| **01/31/20** | $11998 | $11721 | $12253 |
| **02/29/20** | $11750 | $11799 | $12004 |
| **03/31/20** | $10661 | $11535 | $10902 |
| **04/30/20** | $10965 | $11761 | $11219 |
| **05/31/20** | $11317 | $11813 | $11587 |
| **06/30/20** | $11473 | $11918 | $11750 |
| **07/31/20** | $12135 | $12298 | $12433 |
| **08/31/20** | $12132 | $12279 | $12443 |
| **09/30/20** | $11842 | $12235 | $12153 |
| **10/31/20** | $11859 | $12247 | $12181 |
| **11/30/20** | $12409 | $12470 | $12750 |
| **12/31/20** | $12942 | $12637 | $13299 |
| **01/31/21** | $12782 | $12526 | $13130 |
| **02/28/21** | $12458 | $12310 | $12794 |
| **03/31/21** | $12293 | $12073 | $12631 |
| **04/30/21** | $12482 | $12226 | $12835 |
| **05/31/21** | $12813 | $12341 | $13230 |
| **06/30/21** | $12594 | $12232 | $12965 |
| **07/31/21** | $12873 | $12395 | $13256 |
| **08/31/21** | $12867 | $12343 | $13258 |
| **09/30/21** | $12397 | $12124 | $12786 |
| **10/31/21** | $12511 | $12094 | $12915 |
| **11/30/21** | $12366 | $12059 | $12770 |
| **12/31/21** | $12466 | $12042 | $12887 |
| **01/31/22** | $12322 | $11795 | $12738 |
| **02/28/22** | $12475 | $11655 | $12874 |
| **03/31/22** | $12612 | $11300 | $13021 |
| **04/30/22** | $11800 | $10681 | $12194 |
| **05/31/22** | $11644 | $10710 | $12033 |
| **06/30/22** | $10847 | $10367 | $11219 |
| **07/31/22** | $11147 | $10587 | $11526 |
| **08/31/22** | $10673 | $10169 | $11044 |
| **09/30/22** | $9921 | $9647 | $10241 |
| **10/31/22** | $10016 | $9580 | $10412 |
| **11/30/22** | $10621 | $10031 | $11050 |
| **12/31/22** | $10545 | $10086 | $10982 |
| **01/31/23** | $10997 | $10417 | $11452 |
| **02/28/23** | $10634 | $10070 | $11087 |
| **03/31/23** | $11126 | $10389 | $11601 |
| **04/30/23** | $11043 | $10435 | $11523 |
| **05/31/23** | $10704 | $10231 | $11170 |
| **06/30/23** | $10999 | $10230 | $11495 |
| **07/31/23** | $11245 | $10301 | $11752 |
| **08/31/23** | $10901 | $10160 | $11409 |
| **09/30/23** | $10443 | $9863 | $10928 |
| **10/31/23** | $10192 | $9745 | $10686 |
| **11/30/23** | $10877 | $10237 | $11400 |
| **12/31/23** | $11467 | $10662 | $12026 |
| **01/31/24** | $11099 | $10515 | $11644 |
| **02/29/24** | $10989 | $10383 | $11533 |
| **03/31/24** | $11045 | $10440 | $11604 |
| **04/30/24** | $10706 | $10176 | $11247 |
| **05/31/24** | $10903 | $10310 | $11456 |
| **06/30/24** | $10733 | $10325 | $11288 |
| **07/31/24** | $10951 | $10610 | $11527 |
| **08/31/24** | $11211 | $10861 | $11808 |
| **09/30/24** | $11448 | $11046 | $12063 |
| **10/31/24** | $10868 | $10675 | $11455 |
| **11/30/24** | $10861 | $10712 | $11452 |
| **12/31/24** | $10451 | $10482 | $11025 |
| **01/31/25** | $10616 | $10542 | $11203 |
| **02/28/25** | $10716 | $10692 | $11320 |
| **03/31/25** | $10838 | $10758 | $11453 |
| **04/30/25** | $11258 | $11074 | $11895 |
| **05/31/25** | $11288 | $11035 | $11931 |
| **06/30/25** | $11656 | $11244 | $12326 |
| **07/31/25** | $11364 | $11077 | $12023 |
| **08/31/25** | $11570 | $11238 | $12251 |
| **09/30/25** | $11763 | $11311 | $12455 |
| **10/31/25** | $11805 | $11282 | $12506 |
| **11/30/25** | $11893 | $11309 | $12604 |
| **12/31/25** | $12006 | $11338 | $12730 |

---

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **1 Year** | **5 Years** | **10 Years** |
| WIP | 14.88% | (1.49%) | 1.84% |
| Bloomberg Global Aggregate Bond Index | 8.17% | (2.15%) | 1.26% |
| FTSE International Inflation-Linked Securities Select Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup><sup>Footnote Reference(3)</sup> | 15.46% | (0.87%) | 2.44% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;Effective February 12, 2016 (the "Benchmark Index Change Date"), the Fund changed its benchmark index from the DB Global Government ex-US Inflation-Linked Bond Capped Index (the "Previous Benchmark Index") to the Citi International Inflation-Linked Securities Select Index, consistent with a change in the Fund's principal investment strategy to track the performance of the Citi International Inflation-Linked Securities Select Index. Performance of the Fund prior to the Benchmark Index Change Date is therefore based on the Fund's investment strategy to track the Previous Benchmark Index and may have been different had the Fund tracked the current index. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Effective May 21, 2018, the Fund's benchmark index rebranded from the Citi International Inflation-Linked Securities Select Index to the FTSE International Inflation-Linked Securities Select Index. |
| &nbsp;&nbsp;Footnote<sup>(3)</sup> | &nbsp;&nbsp;Returns represent the DB Global Government ex-US Inflation-Linked Bond Capped Index from fund inception through 02/11/16 and the FTSE International Inflation-Linked Securities Select Index (Previously branded as the Citi International Inflation-Linked Securities Select Index before 05/21/2018) effective 02/12/2016 and thereafter. |

---

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. Updated performance information is available by calling 1-866-787-2257 or visiting our website at www.ssga.com.**

## Key Fund Statistics as of 12/31/2025
* Total Net Assets$352,091,349

* Number of Portfolio Holdings176

* Portfolio Turnover Rate15%

* Total Advisory Fees Paid$1,698,859

## **What did the Fund invest in as of 12/31/2025 ?** (as a percentage of total net assets)

### Top Ten Countries

---

| | |
|:---|:---|
| **Countries** | **%** |
| United Kingdom | 18.4% |
| France | 8.1% |
| Brazil | 7.2% |
| Italy | 5.5% |
| Mexico | 5.2% |
| Chile | 4.6% |
| Spain | 4.6% |
| Australia | 4.6% |
| South Africa | 4.6% |
| Israel | 4.5% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Deutsche Bundesrepublik Bonds Inflation-Linked, 0.50%, due 04/15/30 | 2.2% |
| Spain Government Bonds Inflation-Linked, 0.70%, due 11/30/33 | 1.5% |
| Republic of Poland Government Bonds, 2.00%, due 08/25/36 | 1.4% |
| Spain Government Bonds Inflation-Linked, 0.65%, due 11/30/27 | 1.3% |
| Turkiye Government Bonds, 3.00%, due 05/28/31 | 1.3% |
| New Zealand Government Bonds Inflation-Linked, 2.50%, due 09/20/35 | 1.3% |
| Deutsche Bundesrepublik Bonds Inflation-Linked, 0.10%, due 04/15/46 | 1.2% |
| Sweden Bonds Inflation-Linked, 3.50%, due 12/01/28 | 1.2% |
| Colombia TES, 3.75%, due 02/25/37 | 1.1% |
| Australia Government Bonds, 2.50%, due 09/20/30 | 1.1% |

---

#### Availability of Additional Information
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and

proxy information please visit: www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs.

TSR AR WIP

# State Street<sup>®</sup> SPDR<sup>®</sup> S&P<sup>®</sup> Leveraged Loan ETF
![Image](g58388g00v43.jpg)

# LVLN

#### Annual Shareholder Report

#### December 31, 2025

#### Principal Listing Exchange: NYSE Arca Exchange
This annual shareholder report contains important information about the State Street<sup>®</sup> SPDR<sup>®</sup> S&P<sup>®</sup> Leveraged Loan ETF (the "Fund") for the period of November 18, 2025 (commencement of operations) through December 31, 2025. You can find additional information about the Fund, including the Prospectus, Statement of Additional Information, financial statements and other information at www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs. You can also request this information about the Fund by contacting us at 1-866-787-2257.

## **What were the Fund costs for the last year ? *(based on a hypothetical $10,000 Investment)*** 

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| State Street<sup>®</sup>SPDR<sup>®</sup> S&P<sup>®</sup> Leveraged Loan ETF | $5 | 0.40% |

---

The dollar amount above reflects expenses paid since the commencement of operations. Expenses for the full reporting period would be higher.

#### How did the Fund perform last year and what affected its performance?
Performance information is not provided since the Fund has less than six months of operations.

## Key Fund Statistics as of 12/31/2025
* Total Net Assets$50,196,603

* Number of Portfolio Holdings162

* Portfolio Turnover Rate9%

* Total Advisory Fees Paid$21,648

## **What did the Fund invest in as of 12/31/2025 ?** (as a percentage of total net assets)

### **Top Ten Industries** 

---

| | |
|:---|:---|
| **Industries** | **%** |
| Software | 16.4% |
| Commercial Services | 6.2% |
| Insurance | 5.3% |
| Chemicals | 4.9% |
| Health Care Providers & Services | 4.5% |
| Containers & Packaging | 4.4% |
| Retail | 4.4% |
| Computers | 4.1% |
| Pharmaceuticals | 3.9% |
| Construction & Engineering | 2.5% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| DG Investment Intermediate Holdings 2, Inc. | 1.5% |
| Bausch & Lomb Corp. | 1.0% |
| Lumexa Imaging, Inc. | 1.0% |
| Amneal Pharmaceuticals LLC | 1.0% |
| Peloton Interactive, Inc. | 1.0% |
| Element Solutions, Inc. | 1.0% |
| Genmab AS | 1.0% |
| Albion Financing 3 SARL | 1.0% |
| White Cap Buyer LLC, due 10/19/29 | 1.0% |
| TK Elevator Midco GmbH | 1.0% |

---

#### Availability of Additional Information
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and

proxy information please visit: www.ssga.com/us/en/institutional/fund-finder?tab=documents&type=etfs.

TSR AR LVLN

------

(b) Not applicable.

#### Item 2. Code of Ethics.
As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party (the "Code of Ethics"). During the period covered by this report, no substantive amendments were made to the Code of Ethics. During the period covered by this report, the registrant did not grant any waivers, including any implicit waivers, from any provision of the Code of Ethics.

The Code of Ethics is attached hereto as Exhibit 19(a)(1).

#### Item 3. Audit Committee Financial Expert.
(a)(1) The Board of Trustees of the registrant has determined that the registrant has six Board members serving on the Audit Committee that possess the attributes identified in Instructions 2(b) of Item 3 to Form N-CSR to qualify as an "audit committee financial expert."

(2) Dwight Churchill, Clare Richer, Kristi Rowsell, James Ross, Sandra Sponem and Carl Verboncoeur are the registrant's audit committee financial experts. The Board also determined that each of the foregoing persons are not "interested person(s)" of the registrant as that term is defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended (the "1940 Act").

#### Item 4. Principal Accountant Fees and Services.
(a) <u>Audit Fees</u>. For the fiscal years ended December 31, 2025 and December 31, 2024, the aggregate audit fees billed for professional services rendered by the principal accountant, Ernst & Young LLP ("EY"), were $142,411 and $126,175, respectively. Audit fees include the performance of the annual audits, security counts performed during the course of the period for each series of the registrant and routine regulatory filings (one for each SEC registrant).

(b) <u>Audit-Related Fees</u>. For the fiscal years ending December 31, 2025 and December 31, 2024, EY did not bill the registrant any fees for assurances ended related services that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported under paragraph (a) of this Item.

(c) <u>Tax Fees</u>. For the fiscal year ended December 31, 2025, the aggregate tax fees billed for professional services rendered by EY for tax preparation and tax compliance services were $63,959. For the fiscal year ended December 31, 2024, the aggregate tax fees billed for professional services rendered by EY for the review of year-end distribution requirements were $13,890.

(d) <u>All Other Fees</u>. For the fiscal years ended December 31, 2025 and December 31, 2024, there were no fees billed for professional services rendered by EY for products and services provided by EY to the Trust, other than the services reported in paragraphs (a) through (c).

For the fiscal years ended December 31, 2025 and December 31, 2024, the aggregate fees for professional services rendered by EY for products and services provided by EY to the Adviser and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the Trust that (i) relate directly to the operations and financial reporting of the Trust and (ii) were pre-approved by the Audit Committee were approximately $9,761,443 and $9,556,710, respectively.

------

(e)(1) <u>Audit Committee Pre-Approval Policies and Procedures</u>. The registrant's Audit Committee Charter states the following with respect to pre-approval procedures:

Before the independent auditors are engaged by the Trust to render audit, audit-related or permissible non-audit services, either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Audit Committee shall pre-approve all audit, audit-related and permissible non-audit services provided to the Trust. The Audit Committee may delegate to one or more of its members the authority to grant pre-approvals. Any decision of any member to whom authority is delegated under this section shall be presented to the full Audit Committee at its next regularly scheduled meeting;

or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The engagement to render the audit, audit-related or permissible non-audit service is entered into pursuant to pre-approval policies and procedures established by the Audit Committee. Any such policies and procedures must (1) be detailed as to the particular service and (2) not involve any delegation of the Audit Committee's responsibilities to the investment adviser. The Audit Committee must be informed of each service entered into pursuant to the policies and procedures. A copy of any such policies and procedures shall be attached as an exhibit to the Audit Committee Charter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Pre-Approval for a service provided to the Trust other than audit or audit-related services is not required if: (1) the aggregate amount of all such permissible non-audit services provided to the Trust constitutes not more than five percent (5%) of the total amount of revenues paid by the Trust to the independent auditors during the fiscal year in which the permissible non-audit services are provided; (2) such services were not recognized by the Trust at the time of the engagement to be permissible non-audit services; and (3) such services are promptly brought to the attention of the Audit Committee and are approved by the Audit Committee or by one or more members of the Audit Committee to whom authority to grant such approvals has been delegated by the Audit Committee prior to the completion of the audit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Audit Committee shall pre-approve any permissible non-audit services proposed to be provided by the independent auditors to (a) the investment adviser and (b) any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Trust, if the independent auditors' engagement with the investment adviser or any such control persons relates directly to the operations and financial reporting of the Trust. It shall be the responsibility of the independent auditors to notify the Audit Committee of any permissible non-audit services that need to be pre-approved.

Notwithstanding the above, Pre-Approval for any permissible non-audit services under this Sub-section is not required if: (1) the aggregate amount of all such permissible non-audit services constitutes not more than five percent (5%) of the total amount of revenues paid to the independent auditors by the Trust and any other entity that has its services approved under this Section (i.e., the investment adviser or any control person) during the fiscal year in which the permissible non-audit services are provided; (2) such services were not recognized by the Trust at the time of the engagement to be permissible non-audit services; and (3) such services are promptly brought to the attention of the Audit Committee and are approved by the Audit Committee or by one or more members of the Audit Committee to whom authority to grant such approvals has been delegated by the Audit Committee prior to the completion of the audit.

------

(e)(2) <u>Percentage of Services</u>. None of the services described in each of paragraphs (b) through (d) of this Item were approved by the registrant's Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) Not applicable.

(g) The aggregate non-audit fees billed for by EY for services rendered to the registrant, and rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser were as follows:

---

| | | |
|:---|:---|:---|
|  | FY 2025<br>(in millions) | FY 2024<br>(in millions) |
|  Non audit services billed to: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registrant: | See Item 4 (c) | See Item 4 (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Adviser: |  |  |
|  Other entities in the Investment Company Complex <sup>(1)(2)</sup>: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit Related Fees | $18.6 | $18.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax Fees | $3.6 | $3.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Other Fees | $15.8 | $15.0 |

---

<sup>(1)</sup> Information is for the calendar years 2025 and 2024, respectively.

<sup>(2)</sup> Services under the caption Audit-Related Fees consisted principally of reports on the processing of transactions by servicing organizations, audits of employee benefit plan, non-statutory audits and due diligence procedures. Services under the caption Tax Fees consisted principally of expatriate, compliance and corporate tax advisory services. Services under the caption All Other Fees primarily related to statutory and financial statement audits and the requirement to opine on the design and operating effectiveness of internal control over financial reporting. 

(h) EY notified the registrant's Audit Committee of all non-audit services that were rendered by EY to the Adviser and any entity controlling, controlled by, or under common control with the Adviser that provides services to the registrant, which services were not required to be pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, allowing the registrant's Audit Committee to consider whether such services were compatible with maintaining EY's independence.

(i) Not applicable.

(j) Not applicable.

#### Item 5. Audit Committees of Listed Registrants.
The registrant has an audit committee which was established by the Board of Trustees of the Trust in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (the "1934 Act"). The members of the registrant's Audit Committee are Dwight Churchill, Carolyn Clancy, Clare Richer, Kristi Rowsell, James Ross, Sandra Sponem and Carl Verboncoeur.

------

#### Item 6. Investments.
(a) A Schedule of Investments for each applicable series of the registrant is included as a part of the Financial Statements filed under Item 7(a) of this Form N-CSR.

(b) Not applicable to the registrant.

#### Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies
(a) The registrant's Financial Statements are attached herewith.

(b) The registrant's Financial Highlights are included as part of the Financial Statements filed under Item 7(a) of this Form.

------

## Annual Financial Statements and Other Information
December 31, 2025

## SPDR<sup>®</sup> Series Trust - Fixed Income Funds

---

| |
|:---|
| SPDR Bloomberg Emerging Markets Local Bond ETF |
| SPDR Bloomberg International Corporate Bond ETF |
| SPDR Bloomberg International Treasury Bond ETF |
| SPDR Bloomberg Short Term International Treasury Bond ETF |
| SPDR FTSE International Government Inflation-Protected Bond ETF |
| State Street SPDR S&P Leveraged Loan 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.**![](g58388img0e87e4a71.jpg)

------

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **[Schedules of Investments (N-CSR Item 6)](#xx_c89060b5-33c7-489c-8418-dade10acf2cd_1)** |  |
| &nbsp;&nbsp;&nbsp;[SPDR Bloomberg Emerging Markets Local Bond ETF (EBND)](#xx_c89060b5-33c7-489c-8418-dade10acf2cd_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;[SPDR Bloomberg International Corporate Bond ETF (IBND)](#xx_ba7479b4-fc72-46de-a84d-e6c6aa421aae_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10 |
| &nbsp;&nbsp;&nbsp;[SPDR Bloomberg International Treasury Bond ETF (BWX)](#xx_ad5d47f5-068e-4d3a-8c28-b917eb248d4a_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;30 |
| &nbsp;&nbsp;&nbsp;[SPDR Bloomberg Short Term International Treasury Bond ETF (BWZ)](#xx_898e47f8-8e65-4c4a-9518-d340b01c8619_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;45 |
| &nbsp;&nbsp;&nbsp;[SPDR FTSE International Government Inflation-Protected Bond ETF (WIP)](#xx_49017f28-e514-4e35-bb9d-1562af383d5e_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;51 |
| &nbsp;&nbsp;&nbsp;[State Street SPDR S&P Leveraged Loan ETF (LVLN)](#xx_67c96f86-b380-4865-9bbe-c5dd7d1ae7cc_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;55 |
| **[Financial Statements (N-CSR Item 7)](#xx_486a2d03-8f51-44cc-bfab-7fe63d364145_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;63 |
| **[Financial Highlights (N-CSR Item 7)](#xx_60774669-2624-43af-8087-093e257ba0e7_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;71 |
| **[Notes to Financial Statements (N-CSR Item 7)](#xx_bfa6223c-ad0a-49c3-aab3-bf550b1d5701_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;77 |
| **[Report of Independent Registered Public Accounting Firm (N-CSR Item 7)](#xx_c77384f1-e5e6-4422-8500-9bb086ca4639_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;88 |
| **[Other Information (N-CSR Item 7)](#xx_358f1176-8fa9-4177-80a0-fc8fe504fe1d_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;90 |
| **[Statement Regarding Basis for Approval of Investment Advisory Contract (Unaudited) (N-CSR Item 11)](#xx_5890b5ae-07ef-4646-ae25-ab7ac622e298_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;91 |

---

#### Changes in and Disagreements with Accountants for Open-End Management Investment Companies (N-CSR Item 8) - Not Applicable

#### Proxy Disclosures for Open-End Management Investment Companies (N-CSR Item 9) - Not Applicable
**Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies (N-CSR Item 10) - Please see Statement of Operations in the Financial Statements under Item 7 above**

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG EMERGING MARKETS LOCAL BOND ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS — 97.3%** | **FOREIGN GOVERNMENT OBLIGATIONS — 97.3%** | **FOREIGN GOVERNMENT OBLIGATIONS — 97.3%** |  |
| **BRAZIL — 4.4%** | **BRAZIL — 4.4%** | **BRAZIL — 4.4%** |  |
| Brazil Government International Bonds 10.25%, 1/10/2028<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;$180738 |
| Brazil Letras do Tesouro Nacional: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 7/1/2027<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8638781 |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 7/1/2028<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1609341 |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 7/1/2029<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121388 |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 1/1/2030<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7561520 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 4/1/2027<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5379340 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 10/1/2027<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8192052 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/1/2029<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7551021 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/1/2032<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4401899 |
| Brazil Notas do Tesouro Nacional: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.00%, 1/1/2027<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8760575 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.00%, 1/1/2029<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14973827 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.00%, 1/1/2031<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15892041 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.00%, 1/1/2033<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5284694 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.00%, 1/1/2035<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8461781 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99008998 |
| **CHILE — 3.0%** | **CHILE — 3.0%** | **CHILE — 3.0%** |  |
| Bonos de la Tesoreria de la Republica en pesos: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 5/6/2027<br>| CLP | &nbsp;&nbsp;1700000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1782400 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.30%, 10/1/2028<br>| CLP | &nbsp;&nbsp;4255000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4428603 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 10/1/2033<br>| CLP | &nbsp;&nbsp;2200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2046696 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.70%, 9/1/2030<br>| CLP | &nbsp;&nbsp;6805000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7408568 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.90%, 11/1/2027<br>| CLP | &nbsp;&nbsp;1400000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567025 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/1/2028<br>| CLP | &nbsp;&nbsp;4780000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5340747 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 3/1/2035<br>| CLP | &nbsp;&nbsp;6000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6491141 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.10%, 7/15/2050<br>| CLP | &nbsp;&nbsp;4970000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5136330 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.30%, 11/1/2037<br>| CLP | &nbsp;&nbsp;5040000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5566498 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.80%, 10/1/2029<br>| CLP | &nbsp;&nbsp;7020000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7984926 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.80%, 10/1/2034<br>| CLP | &nbsp;&nbsp;1250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1428663 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 4/1/2033<br>| CLP | &nbsp;&nbsp;9330000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10750642 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 1/1/2043<br>| CLP | &nbsp;&nbsp;4795000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5610587 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.10%, 4/1/2056<br>| CLP | &nbsp;&nbsp;&nbsp;&nbsp;600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715127 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.20%, 10/1/2040<br>| CLP | &nbsp;&nbsp;&nbsp;&nbsp;590000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;704262 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 5/1/2034<br>| CLP | &nbsp;&nbsp;&nbsp;&nbsp;670000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824472 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67786687 |
| **CHINA — 12.4%** | **CHINA — 12.4%** | **CHINA — 12.4%** |  |
| China Development Bank: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 1/25/2036<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073491 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 2/9/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457304 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| China Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 6/15/2027<br>| CNY | &nbsp;&nbsp;24000000 | &nbsp;&nbsp;$3437227 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.42%, 11/15/2027<br>| CNY | &nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2150008 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.42%, 8/15/2028<br>| CNY | &nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3579486 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.43%, 1/25/2030<br>| CNY | &nbsp;&nbsp;40000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5692702 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.44%, 9/15/2027<br>| CNY | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2865263 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.45%, 2/25/2028<br>| CNY | &nbsp;&nbsp;40000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5738993 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.46%, 5/25/2028<br>| CNY | &nbsp;&nbsp;40000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5742514 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.55%, 7/25/2030<br>| CNY | &nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3572934 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.59%, 3/15/2027<br>| CNY | &nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4307285 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.61%, 2/15/2035<br>| CNY | &nbsp;&nbsp;33000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4620695 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.62%, 8/15/2027<br>| CNY | &nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2587795 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 10/25/2030<br>| CNY | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2861558 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.65%, 5/15/2035<br>| CNY | &nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2106338 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.67%, 5/25/2035<br>| CNY | &nbsp;&nbsp;33000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4654735 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.74%, 10/15/2029<br>| CNY | &nbsp;&nbsp;27000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3896537 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.78%, 9/15/2032<br>| CNY | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2867240 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.78%, 11/15/2035<br>| CNY | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1420920 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.79%, 3/25/2032<br>| CNY | &nbsp;&nbsp;40000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5753141 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.83%, 8/25/2035<br>| CNY | &nbsp;&nbsp;35000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4993442 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.85%, 5/15/2027<br>| CNY | &nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161433 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.87%, 9/15/2031<br>| CNY | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1443671 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.91%, 7/15/2029<br>| CNY | &nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3626876 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.92%, 1/15/2055<br>| CNY | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1316932 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.04%, 2/25/2027<br>| CNY | &nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4327486 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.04%, 11/25/2034<br>| CNY | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452510 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.05%, 4/15/2029<br>| CNY | &nbsp;&nbsp;40000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5828139 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.11%, 8/25/2034<br>| CNY | &nbsp;&nbsp;21000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3068035 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.12%, 6/25/2031<br>| CNY | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2927015 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.27%, 5/25/2034<br>| CNY | &nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4435961 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.28%, 3/25/2031<br>| CNY | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2952087 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.35%, 2/25/2034<br>| CNY | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2973936 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.37%, 1/20/2027<br>| CNY | &nbsp;&nbsp;18500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2676095 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.37%, 1/15/2029<br>| CNY | &nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3678115 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 7/15/2028<br>| CNY | &nbsp;&nbsp;21000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3082324 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.44%, 10/15/2027<br>| CNY | &nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2185658 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.48%, 4/15/2027<br>| CNY | &nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2177526 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.48%, 9/25/2028<br>| CNY | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473952 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/25/2027<br>| CNY | &nbsp;&nbsp;19000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2762822 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.52%, 8/25/2033<br>| CNY | &nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2708502 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.54%, 12/25/2030<br>| CNY | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988912 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.55%, 10/15/2028<br>| CNY | &nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3693373 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 9/15/2030<br>| CNY | &nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1796767 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 9/1/2032<br>| CNY | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3014918 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.62%, 4/15/2028<br>| CNY | &nbsp;&nbsp;21000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3090201 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.62%, 9/25/2029<br>| CNY | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2974397 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.62%, 6/25/2030<br>| CNY | &nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690169 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.64%, 1/15/2028<br>| CNY | &nbsp;&nbsp;21000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3083932 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.67%, 5/25/2033<br>| CNY | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3037414 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.67%, 11/25/2033<br>| CNY | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3045318 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.68%, 5/21/2030<br>| CNY | &nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3741330 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.69%, 8/15/2032<br>| CNY | &nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4539528 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 6/15/2029<br>| CNY | &nbsp;&nbsp;14000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088847 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 2/17/2032<br>| CNY | &nbsp;&nbsp;23000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3487792 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG EMERGING MARKETS LOCAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.76%, 5/15/2032<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;$2281120 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.79%, 12/15/2029<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3001193 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 3/24/2029<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982916 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 3/25/2030<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3459686 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 11/15/2032<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2294501 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.85%, 6/4/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3217641 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 2/25/2033<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1233656 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.89%, 11/18/2031<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3137912 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.91%, 10/14/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982210 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/15/2053<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2422450 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.01%, 5/13/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1189509 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.02%, 5/27/2031<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4614180 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.12%, 10/25/2052<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478321 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 11/21/2029<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3044556 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/22/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510481 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.27%, 11/19/2030<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3887517 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.27%, 8/22/2046<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1653587 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.27%, 3/25/2073<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878565 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.28%, 12/3/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3033177 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.29%, 5/23/2029<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3748896 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.32%, 4/15/2052<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354530 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.39%, 3/16/2050<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2545446 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 7/15/2072<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807953 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.48%, 11/21/2066<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210004 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.52%, 5/4/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739297 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.52%, 4/25/2046<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853332 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.53%, 10/18/2051<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225480 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.54%, 8/16/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518009 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.72%, 4/12/2051<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3593265 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.73%, 5/25/2070<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4833827 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.74%, 9/22/2035<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325507 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.74%, 10/20/2045<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531899 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.76%, 3/22/2071<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3894893 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.77%, 2/20/2047<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416721 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.81%, 9/14/2050<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3082779 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.86%, 7/22/2049<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2718971 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.96%, 7/29/2040<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1425301 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.97%, 7/23/2048<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468432 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 6/24/2069<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825730 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.05%, 7/24/2047<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1479292 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.08%, 3/1/2040<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903093 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.08%, 10/22/2048<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2849143 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.09%, 4/27/2035<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174437 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.22%, 3/19/2048<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513577 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.28%, 10/23/2047<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619539 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 6/23/2041<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2096798 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 8/11/2034<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257265 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.76%, 9/16/2043<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398227 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275626402 |
| **COLOMBIA — 3.3%** | **COLOMBIA — 3.3%** | **COLOMBIA — 3.3%** |  |
| Colombia TES: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/3/2027<br>| COP | &nbsp;&nbsp;&nbsp;&nbsp;5700000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365216 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 4/28/2028<br>| COP | &nbsp;&nbsp;36441000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8434002 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 7/9/2036<br>| COP | &nbsp;&nbsp;13200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2163105 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 3/26/2031<br>| COP | &nbsp;&nbsp;28650000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5902434 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 6/30/2032<br>| COP | &nbsp;&nbsp;24260000000 | &nbsp;&nbsp;$4735249 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.25%, 10/18/2034<br>| COP | &nbsp;&nbsp;26825000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5019031 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.25%, 10/26/2050<br>| COP | &nbsp;&nbsp;21700000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3283363 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.75%, 9/18/2030<br>| COP | &nbsp;&nbsp;20700000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4489712 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.25%, 5/28/2042<br>| COP | &nbsp;&nbsp;39800000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7814041 |
| &nbsp;&nbsp;&nbsp;&nbsp;11.00%, 8/22/2029<br>| COP | &nbsp;&nbsp;16600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4150826 |
| &nbsp;&nbsp;&nbsp;&nbsp;11.50%, 7/25/2046<br>| COP | &nbsp;&nbsp;36600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8707962 |
| &nbsp;&nbsp;&nbsp;&nbsp;11.75%, 1/24/2035<br>| COP | &nbsp;&nbsp;&nbsp;&nbsp;5600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378384 |
| &nbsp;&nbsp;&nbsp;&nbsp;12.00%, 3/13/2058<br>| COP | &nbsp;&nbsp;&nbsp;&nbsp;3082400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747953 |
| &nbsp;&nbsp;&nbsp;&nbsp;12.75%, 11/28/2040<br>| COP | &nbsp;&nbsp;11300000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2985443 |
| &nbsp;&nbsp;&nbsp;&nbsp;13.25%, 2/9/2033<br>| COP | &nbsp;&nbsp;43080000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11445827 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72622548 |
| **CZECH REPUBLIC — 3.9%** | **CZECH REPUBLIC — 3.9%** | **CZECH REPUBLIC — 3.9%** |  |
| Czech Republic Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.05%, 11/29/2029<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701157 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 2/10/2027<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120030000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5632811 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.95%, 5/15/2030<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4266268 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.20%, 3/13/2031<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7605216 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 4/24/2040<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2317672 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 6/23/2032<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5950900 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.95%, 7/30/2037<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1493289 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 10/13/2033<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5813225 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 8/25/2028<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7233955 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 7/23/2029<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7216848 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 3/3/2033<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702952 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 5/30/2035<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6028517 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.60%, 6/3/2036<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2312184 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/4/2044<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342602 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.20%, 12/4/2036<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3661669 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 10/24/2034<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666412 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/11/2032<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5736434 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 11/26/2057<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021203 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.90%, 4/14/2034<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5811974 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 9/30/2030<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5779694 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.30%, 9/19/2035<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819375 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/12/2028<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865274 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 3/29/2029<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433592 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.20%, 6/16/2031<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1067275 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86480498 |
| **FRANCE — 0.0% <sup>\*</sup>** | **FRANCE — 0.0% <sup>\*</sup>** | **FRANCE — 0.0% <sup>\*</sup>** |  |
| Agence Francaise de Developpement EPIC Series EMTN, 5.75%, 10/9/2030<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;18000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1064240 |
| **HUNGARY — 3.1%** | **HUNGARY — 3.1%** | **HUNGARY — 3.1%** |  |
| Hungary Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 5/23/2029 (a)<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;1732430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4624716 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 4/20/2033<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;1071200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2460142 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/22/2034<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1938903 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/27/2027<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;2368170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6861906 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 8/21/2030<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;2405000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6380885 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/27/2038<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;1588160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3211856 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG EMERGING MARKETS LOCAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 4/25/2041<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;671300000 | &nbsp;&nbsp;$1262953 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 10/22/2031<br>| HUF | &nbsp;&nbsp;3030870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7876300 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 3/23/2028<br>| HUF | &nbsp;&nbsp;2299300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6784821 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 5/27/2032<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;890000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2431400 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/24/2032<br>| HUF | &nbsp;&nbsp;1727700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4756318 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 10/22/2028<br>| HUF | &nbsp;&nbsp;3311590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10252644 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 7/23/2031<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551187 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 10/24/2035<br>| HUF | &nbsp;&nbsp;2450000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7591956 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67985987 |
| **INDIA — 7.1%** | **INDIA — 7.1%** | **INDIA — 7.1%** |  |
| India Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.77%, 8/3/2030<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;380000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4117252 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.79%, 5/11/2030<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;330000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3580223 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.85%, 12/1/2030<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;385000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4184997 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.01%, 7/21/2030<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;160000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757733 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.10%, 7/12/2031<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6548361 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.28%, 7/14/2032<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;115000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1259148 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.33%, 5/5/2035<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;650000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7090891 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.45%, 10/7/2029<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;180000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013823 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.48%, 10/6/2035<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093594 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.54%, 1/17/2032<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;650000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7201546 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.67%, 12/17/2050<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;550000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5637403 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 12/23/2029<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;110000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1244057 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.79%, 12/30/2031<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2246230 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.79%, 10/7/2034<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;650000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7275984 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.79%, 12/2/2034<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167210 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.99%, 12/15/2051<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6451365 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.02%, 6/18/2031<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2839488 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.04%, 6/3/2029<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;116000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324208 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.06%, 4/10/2028<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;201000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2296040 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.10%, 1/27/2028<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341379 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.10%, 4/18/2029<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;236000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2699915 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.10%, 4/8/2034<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;700000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7979578 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.16%, 9/20/2050<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;350000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3817549 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.17%, 4/17/2030<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;285000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3258585 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.18%, 8/14/2033<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;750000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8584562 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.18%, 7/24/2037<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;700000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7951782 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.25%, 11/13/2028<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57499 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.26%, 1/14/2029<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;195000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2243014 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.26%, 8/22/2032<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6889398 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.26%, 2/6/2033<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;560000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6427669 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.29%, 1/27/2033<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172458 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.30%, 6/19/2053<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;750000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8317362 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.32%, 11/13/2030<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2884421 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.36%, 9/12/2052<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;650000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7273091 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.37%, 10/23/2028<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095023 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.37%, 1/23/2054<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191806 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.38%, 6/20/2027<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;221000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2516633 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.41%, 12/19/2036<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;550000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6374786 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.54%, 5/23/2036<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;570000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6672330 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.72%, 6/15/2049<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;290000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3386373 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157464766 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **INDONESIA — 5.7%** | **INDONESIA — 5.7%** | **INDONESIA — 5.7%** |  |
| Indonesia Treasury Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.13%, 4/15/2027<br>| IDR | &nbsp;&nbsp;50000000000 | &nbsp;&nbsp;$2993455 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.13%, 5/15/2028<br>| IDR | &nbsp;&nbsp;48750000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2971688 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 6/15/2036<br>| IDR | &nbsp;&nbsp;30000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1809026 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 8/15/2028<br>| IDR | &nbsp;&nbsp;60000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3684870 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 4/15/2032<br>| IDR | &nbsp;&nbsp;90000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5502674 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 7/15/2037<br>| IDR | &nbsp;&nbsp;10000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604508 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 4/15/2042<br>| IDR | &nbsp;&nbsp;&nbsp;&nbsp;1700000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100683 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 7/15/2030<br>| IDR | &nbsp;&nbsp;28000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1744832 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 2/15/2031<br>| IDR | &nbsp;&nbsp;81700000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5036878 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 4/15/2036<br>| IDR | &nbsp;&nbsp;15000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925203 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 5/15/2033<br>| IDR | &nbsp;&nbsp;55000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3392421 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 2/15/2034<br>| IDR | &nbsp;&nbsp;55000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3405609 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 7/15/2035<br>| IDR | &nbsp;&nbsp;30000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889253 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 4/15/2029<br>| IDR | &nbsp;&nbsp;45000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2811836 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 8/15/2051<br>| IDR | &nbsp;&nbsp;30000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824320 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 7/15/2054<br>| IDR | &nbsp;&nbsp;35000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2140977 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 5/15/2027<br>| IDR | &nbsp;&nbsp;58000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3557556 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 9/15/2030<br>| IDR | &nbsp;&nbsp;75600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4771542 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 2/15/2033<br>| IDR | &nbsp;&nbsp;70000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4412082 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 6/15/2038<br>| IDR | &nbsp;&nbsp;36000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2297130 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 8/15/2040<br>| IDR | &nbsp;&nbsp;20000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285697 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 6/15/2042<br>| IDR | &nbsp;&nbsp;60000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3808757 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 6/15/2043<br>| IDR | &nbsp;&nbsp;42000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2664868 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 8/15/2045<br>| IDR | &nbsp;&nbsp;35000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2248753 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.38%, 5/15/2048<br>| IDR | &nbsp;&nbsp;41700000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2675052 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 8/15/2032<br>| IDR | &nbsp;&nbsp;31300000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021638 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 6/15/2035<br>| IDR | &nbsp;&nbsp;70600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4627711 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 5/15/2038<br>| IDR | &nbsp;&nbsp;43910000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2876910 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 4/15/2040<br>| IDR | &nbsp;&nbsp;75000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4909382 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.25%, 5/15/2029<br>| IDR | &nbsp;&nbsp;52150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3390022 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.25%, 6/15/2032<br>| IDR | &nbsp;&nbsp;&nbsp;&nbsp;3710000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249753 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.25%, 5/15/2036<br>| IDR | &nbsp;&nbsp;47090000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3244814 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.38%, 3/15/2034<br>| IDR | &nbsp;&nbsp;72700000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4968102 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.38%, 4/15/2039<br>| IDR | &nbsp;&nbsp;40000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2799447 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.75%, 5/15/2031<br>| IDR | &nbsp;&nbsp;39050000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2652190 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.75%, 2/15/2044<br>| IDR | &nbsp;&nbsp;17050000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257978 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.00%, 3/15/2029<br>| IDR | &nbsp;&nbsp;50000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3311154 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.50%, 5/15/2041<br>| IDR | &nbsp;&nbsp;&nbsp;&nbsp;1000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.75%, 5/15/2037<br>| IDR | &nbsp;&nbsp;&nbsp;&nbsp;1250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95985 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.00%, 2/15/2028<br>| IDR | &nbsp;&nbsp;10000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656198 |
| Perusahaan Penerbit SBSN Indonesia: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.88%, 7/15/2028<br>| IDR | &nbsp;&nbsp;23571000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435323 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 1/15/2027<br>| IDR | &nbsp;&nbsp;40000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2426783 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.10%, 2/15/2037<br>| IDR | &nbsp;&nbsp;&nbsp;&nbsp;2000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119402 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 3/15/2034<br>| IDR | &nbsp;&nbsp;87522000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5312395 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 6/15/2039<br>| IDR | &nbsp;&nbsp;10000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610631 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 9/15/2029<br>| IDR | &nbsp;&nbsp;10000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616092 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 7/15/2041<br>| IDR | &nbsp;&nbsp;&nbsp;&nbsp;2000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120598 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 6/15/2047<br>| IDR | &nbsp;&nbsp;56875000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3442109 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 12/15/2049<br>| IDR | &nbsp;&nbsp;35000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139588 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.75%, 10/15/2046<br>| IDR | &nbsp;&nbsp;23000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547434 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG EMERGING MARKETS LOCAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;8.88%, 11/15/2031<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;64200000000 | &nbsp;&nbsp;$4385133 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127851442 |
| **ISRAEL — 3.9%** | **ISRAEL — 3.9%** | **ISRAEL — 3.9%** |  |
| Israel Government Bonds - Fixed: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 3/31/2030<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5213789 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 4/30/2032<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9435681 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 5/31/2037<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9111161 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/31/2027<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8040429 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 9/28/2028<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24376000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7347428 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 11/29/2052<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5078380 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 9/30/2027<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7373106 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 2/28/2029<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9945289 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 3/31/2047<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20812000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6017750 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 3/30/2035<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7988361 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.60%, 8/31/2029<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2163536 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 1/31/2042<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8019537 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 10/30/2026<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1797790 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87532237 |
| **MALAYSIA — 5.9%** | **MALAYSIA — 5.9%** | **MALAYSIA — 5.9%** |  |
| Malaysia Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 4/15/2031<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4095352 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.34%, 5/15/2030<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741084 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.48%, 7/2/2035<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472868 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 5/31/2027<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16070000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3984456 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.52%, 4/20/2028<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3856496 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.58%, 7/15/2032<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3008331 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.73%, 6/15/2028<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100843 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.76%, 5/22/2040<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878234 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.83%, 7/5/2034<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4065216 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.84%, 4/15/2033<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7860000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1985898 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.89%, 3/15/2027<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149550 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.89%, 8/15/2029<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3227646 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.90%, 11/16/2027<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1448671 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.92%, 7/15/2055<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700286 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.05%, 4/18/2039<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3799347 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.07%, 6/15/2050<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3374897 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 4/15/2032<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205435 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.18%, 5/16/2044<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2562297 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.23%, 6/30/2031<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773412 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 5/31/2035<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1891842 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.46%, 3/31/2053<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1591249 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 4/30/2029<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1874360 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 4/15/2030<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3359731 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.64%, 11/7/2033<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13910000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3698330 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.70%, 10/15/2042<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2567743 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.74%, 3/15/2046<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8075000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2222180 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.76%, 4/7/2037<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2194172 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.89%, 6/8/2038<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2573985 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.92%, 7/6/2048<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8860000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2507705 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.94%, 9/30/2043<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400188 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Malaysia Government Investment Issue: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.42%, 9/30/2027<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;14180000 | &nbsp;&nbsp;$3517829 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 7/15/2036<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303495 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.47%, 10/15/2030<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5252000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1304625 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.60%, 7/31/2028<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;14160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3531953 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.61%, 4/30/2035<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2183191 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.64%, 8/30/2030<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751113 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.78%, 5/31/2045<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2433783 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 10/8/2031<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;12300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105876 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.97%, 7/16/2040<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1768688 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.12%, 11/30/2034<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;16000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4120705 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 7/9/2029<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3812791 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.19%, 10/7/2032<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;11000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2839690 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 9/30/2030<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;11600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2978784 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.26%, 7/26/2027<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375513 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.28%, 3/23/2054<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;14200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3661257 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.29%, 8/14/2043<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;10580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2751282 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.37%, 10/31/2028<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2036528 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.42%, 9/30/2041<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2453432 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.47%, 9/15/2039<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7376000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1964109 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.58%, 8/30/2033<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;13400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3551510 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.64%, 11/15/2049<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1096818 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.66%, 3/31/2038<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2362111 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.72%, 6/15/2033<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1388728 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.76%, 8/4/2037<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899822 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.79%, 10/31/2035<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219878 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.90%, 5/8/2047<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494090 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.36%, 5/15/2052<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;13000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3949585 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132168990 |
| **MEXICO — 5.7%** | **MEXICO — 5.7%** | **MEXICO — 5.7%** |  |
| Mexico Bonos: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 6/3/2027<br>| MXN | &nbsp;&nbsp;114250700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6346110 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 5/26/2033<br>| MXN | &nbsp;&nbsp;138560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7167635 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.75%, 5/29/2031<br>| MXN | &nbsp;&nbsp;261716800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14022908 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.75%, 11/23/2034<br>| MXN | &nbsp;&nbsp;231508100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11942184 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.75%, 11/13/2042<br>| MXN | &nbsp;&nbsp;166089600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7895942 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 5/24/2035<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;40000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072637 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 2/21/2036<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;51000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2626233 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 11/7/2047<br>| MXN | &nbsp;&nbsp;179050800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8568287 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 7/31/2053<br>| MXN | &nbsp;&nbsp;117000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5546592 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 4/29/2055<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472166 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 3/2/2028<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;52800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2969804 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 3/1/2029<br>| MXN | &nbsp;&nbsp;255000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14320499 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 5/31/2029<br>| MXN | &nbsp;&nbsp;151446300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8493442 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 2/28/2030<br>| MXN | &nbsp;&nbsp;127500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7109351 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 11/18/2038<br>| MXN | &nbsp;&nbsp;160630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8372737 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.00%, 11/20/2036<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306141 |
| Mexico Cetes: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 8/6/2026<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2663180 |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 5/13/2027<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004813 |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 7/8/2027<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;80000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3969321 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG EMERGING MARKETS LOCAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 9/2/2027<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;90000000 | &nbsp;&nbsp;$4409232 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/21/2027<br>| MXN | &nbsp;&nbsp;112000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5765948 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 3/18/2027<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;40000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2034488 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128079650 |
| **PERU — 2.9%** | **PERU — 2.9%** | **PERU — 2.9%** |  |
| Peru Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.35%, 8/12/2040<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2478130 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.40%, 8/12/2034<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;10775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3191116 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.94%, 2/12/2029<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861020 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.15%, 8/12/2032<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;29457000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9447829 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.71%, 2/12/2055<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2012589 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.85%, 8/12/2035 (a)<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;17275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5525654 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.85%, 2/12/2042<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1304900 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.90%, 8/12/2037<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;40275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12511408 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.95%, 8/12/2031<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;22220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7342793 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.30%, 8/12/2033<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;28350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9610050 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.60%, 8/12/2039 (a)<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;29040000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9419120 |
| Peru Government International Bonds 6.71%, 2/12/2055<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147074 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63851683 |
| **PHILIPPINES — 3.9%** | **PHILIPPINES — 3.9%** | **PHILIPPINES — 3.9%** |  |
| Philippines Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 7/9/2030<br>| PHP | &nbsp;&nbsp;153500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2314414 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 4/22/2028<br>| PHP | &nbsp;&nbsp;300000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4895207 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 3/21/2033<br>| PHP | &nbsp;&nbsp;&nbsp;&nbsp;43150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634227 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 8/12/2028<br>| PHP | &nbsp;&nbsp;230000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3747725 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 7/22/2031<br>| PHP | &nbsp;&nbsp;227000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3533195 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 9/9/2040<br>| PHP | &nbsp;&nbsp;156500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2232245 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 5/4/2027<br>| PHP | &nbsp;&nbsp;206950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3493774 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 1/20/2032<br>| PHP | &nbsp;&nbsp;190000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3064248 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.13%, 7/15/2041<br>| PHP | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148626 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 5/18/2037<br>| PHP | &nbsp;&nbsp;&nbsp;&nbsp;48800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766275 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 4/27/2030<br>| PHP | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856667 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.13%, 1/18/2031<br>| PHP | &nbsp;&nbsp;&nbsp;&nbsp;80000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374785 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.13%, 10/24/2037<br>| PHP | &nbsp;&nbsp;&nbsp;&nbsp;67000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132203 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 3/22/2028<br>| PHP | &nbsp;&nbsp;127700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207319 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 1/25/2034<br>| PHP | &nbsp;&nbsp;200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3442648 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 2/28/2044<br>| PHP | &nbsp;&nbsp;&nbsp;&nbsp;80000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1337618 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 7/27/2030<br>| PHP | &nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4338135 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 4/28/2035<br>| PHP | &nbsp;&nbsp;370000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6432413 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 1/30/2050<br>| PHP | &nbsp;&nbsp;&nbsp;&nbsp;40000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674088 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 5/19/2029<br>| PHP | &nbsp;&nbsp;157000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2741247 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 2/22/2038<br>| PHP | &nbsp;&nbsp;&nbsp;&nbsp;40000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695627 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 8/17/2033<br>| PHP | &nbsp;&nbsp;130000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2278952 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 9/15/2032<br>| PHP | &nbsp;&nbsp;400000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7094931 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 1/24/2039<br>| PHP | &nbsp;&nbsp;117700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2089749 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 1/10/2029<br>| PHP | &nbsp;&nbsp;293000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5169754 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 5/23/2044<br>| PHP | &nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2651070 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 10/13/2029<br>| PHP | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1775242 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.25%, 6/23/2032<br>| PHP | &nbsp;&nbsp;&nbsp;&nbsp;61000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112008 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 7/19/2031<br>| PHP | &nbsp;&nbsp;274237338 | &nbsp;&nbsp;$5155583 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 9/30/2035<br>| PHP | &nbsp;&nbsp;108000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2083294 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.13%, 12/16/2035<br>| PHP | &nbsp;&nbsp;198800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3862834 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.13%, 11/24/2042<br>| PHP | &nbsp;&nbsp;&nbsp;&nbsp;95000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900237 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.25%, 11/5/2034<br>| PHP | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067068 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87303408 |
| **POLAND — 4.3%** | **POLAND — 4.3%** | **POLAND — 4.3%** |  |
| Republic of Poland Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/25/2028<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;29900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7700242 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 10/25/2030<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;21330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5123479 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 4/25/2032<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;50600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11854504 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/25/2027<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;23840000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6517744 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 10/25/2029<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;21450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5650796 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/25/2047<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560124 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 7/25/2030<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;26100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7270151 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 7/25/2029<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;31400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8890104 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 1/25/2030<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;19600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5576843 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/25/2034<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;30200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8361964 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/25/2035<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;11000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3020448 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 4/25/2029<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;29550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8617807 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 10/25/2033<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;30660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9116369 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 7/25/2028<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;25540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7713671 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95974246 |
| **ROMANIA — 3.4%** | **ROMANIA — 3.4%** | **ROMANIA — 3.4%** |  |
| Romania Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/25/2027<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1964267 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.65%, 9/24/2031<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;17650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3504609 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.15%, 1/26/2028<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;15750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3474714 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.15%, 10/24/2030<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608277 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/11/2034<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;25340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5078393 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 7/25/2029<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;17700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3848096 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 2/12/2029<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;20585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4534507 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.80%, 7/26/2027<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099994 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.30%, 4/26/2028<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;16600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3803597 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.30%, 4/25/2029<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;11000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2507921 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.70%, 2/25/2032<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;28650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6577799 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 4/25/2035<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300375 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.10%, 7/31/2034<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;14250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3348163 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.20%, 5/31/2027<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;13000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3030421 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.20%, 10/30/2033<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;17500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4132275 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.35%, 4/28/2031<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;10500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2488425 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.40%, 4/28/2027<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;10500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2451831 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 7/27/2033<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791695 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.90%, 2/24/2038<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;17500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4376316 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 4/29/2030<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;23065000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5569696 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.25%, 9/29/2032<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;22295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5534196 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.75%, 10/30/2028<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;15650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3803297 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74828864 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG EMERGING MARKETS LOCAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SOUTH AFRICA — 4.4%** | **SOUTH AFRICA — 4.4%** | **SOUTH AFRICA — 4.4%** |  |
| Republic of South Africa Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 3/31/2036<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78241000 | &nbsp;&nbsp;$4008336 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 2/28/2031<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91667000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5399947 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 1/31/2030<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8827466 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.25%, 3/31/2032<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199627000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12324391 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 1/31/2037<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202227000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12086823 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.75%, 1/31/2044<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254056000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14665920 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.75%, 2/28/2048<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184035000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10676345 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.88%, 2/28/2035<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12892788 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.00%, 1/31/2040<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12470768 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.50%, 12/21/2026<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16993333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052043 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.50%, 12/21/2027<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16993333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084771 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.88%, 3/31/2038<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835885 |
| &nbsp;&nbsp;&nbsp;&nbsp;11.63%, 3/31/2053<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2358957 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98684440 |
| **SOUTH KOREA — 10.7%** | **SOUTH KOREA — 10.7%** | **SOUTH KOREA — 10.7%** |  |
| Korea Treasury Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 9/10/2039<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5450000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2863242 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 12/10/2029<br>| KRW | &nbsp;&nbsp;10000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6479734 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 6/10/2030<br>| KRW | &nbsp;&nbsp;10000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6403230 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 12/10/2030<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;8000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5106870 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 9/10/2036<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;6003000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3469299 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 9/10/2040<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2704124 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 3/10/2050<br>| KRW | &nbsp;&nbsp;14730000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7148320 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 9/10/2070<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;6550000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2865685 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 6/10/2029<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;7280000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4852146 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 9/10/2041<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;4000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2255287 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 3/10/2051<br>| KRW | &nbsp;&nbsp;18000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9449018 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 6/10/2031<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;8500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5517721 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/10/2046<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;1370000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762396 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/10/2049<br>| KRW | &nbsp;&nbsp;10835000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5914137 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 6/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;6282000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4322973 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 3/10/2047<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;6812000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3854367 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/10/2028<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;9000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6140853 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 9/10/2037<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;3570000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2211309 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 3/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;7000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4843983 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 12/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3852909 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 12/10/2028<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;1839000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255779 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 12/10/2031<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;7000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4613848 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 9/10/2038<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;4409000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2749928 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/10/2030<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3363118 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 3/10/2052<br>| KRW | &nbsp;&nbsp;10000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5963762 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 3/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;1500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040991 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 6/10/2028<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;2000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1376742 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 3/10/2030<br>| KRW | &nbsp;&nbsp;10000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6776260 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 6/10/2035<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;3500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2280132 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 9/10/2035<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566084 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 3/10/2048<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;6754000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4165640 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 3/10/2055<br>| KRW | &nbsp;&nbsp;15500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9451241 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 9/10/2055<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;7100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4353448 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 12/10/2044<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3169413 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 9/10/2045<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;1000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636383 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 9/10/2054<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;7500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4690189 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 9/10/2074<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;1000000000 | &nbsp;&nbsp;$623783 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 12/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;4000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2777946 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 9/10/2044<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;4000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2584652 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 9/10/2029<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3797406 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/10/2034<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;6000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4026291 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/10/2042<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;6265000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4104184 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 9/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3489446 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 9/10/2052<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;6000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4030516 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 6/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;4000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2796065 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 3/10/2028<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;7500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5245191 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 3/10/2029<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;7000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4885764 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 6/10/2033<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3779819 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 9/10/2042<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;3200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2168092 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 3/10/2053<br>| KRW | &nbsp;&nbsp;11000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7557314 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 3/10/2054<br>| KRW | &nbsp;&nbsp;10500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7225325 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 6/10/2032<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3826859 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 9/10/2028<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;7000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4919620 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 6/10/2034<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3835872 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 9/10/2072<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;2500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1874367 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 9/10/2053<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;7200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5290093 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 9/10/2043<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;3500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2566671 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/10/2031<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;1395000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003521 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 12/10/2033<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3643914 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/10/2032<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;5500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4020111 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237543383 |
| **SUPRANATIONAL — 1.7%** | **SUPRANATIONAL — 1.7%** | **SUPRANATIONAL — 1.7%** |  |
| Asian Development Bank: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 4.50%, 5/30/2028<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953905 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 5.25%, 1/29/2030<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1782906 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 11.00%, 8/31/2026<br>| COP | &nbsp;&nbsp;&nbsp;&nbsp;5280000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370869 |
| Asian Infrastructure Investment Bank Series EMTN, 7.00%, 3/1/2029<br>| &nbsp;&nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122170 |
| Corp. Andina de Fomento: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 7.40%, 6/30/2035<br>| &nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;50000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3032204 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 7.70%, 3/6/2029<br>| &nbsp;&nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414813 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 8.25%, 4/26/2034<br>| &nbsp;&nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742602 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 9.00%, 6/16/2027<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099752 |
| European Bank for Reconstruction & Development: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.01%, 1/28/2027<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597835 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 6.25%, 4/11/2028<br>| &nbsp;&nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3304645 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG EMERGING MARKETS LOCAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 6.30%, 10/26/2027<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;60000000 | &nbsp;&nbsp;$667032 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 6.75%, 3/14/2031<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554799 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 6.75%, 1/13/2032<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2215465 |
| Inter-American Development Bank: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 7.00%, 1/25/2029<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2804480 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 7.35%, 10/6/2030<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1135855 |
| International Bank for Reconstruction & Development: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.98%, 6/28/2028<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537127 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 6.50%, 4/17/2030<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090860 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 6.75%, 7/13/2029<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;60000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668109 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.85%, 4/24/2028<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;300000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3351458 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 7.05%, 7/22/2029<br>| &nbsp;&nbsp;INR | &nbsp;&nbsp;200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2246877 |
| International Finance Corp. Series GMTN, 7.02%, 4/6/2028<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1613554 |
| Nordic Investment Bank Series EMTN, 5.00%, 3/4/2026<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;11430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3182577 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38489894 |
| **THAILAND — 4.6%** | **THAILAND — 4.6%** | **THAILAND — 4.6%** |  |
| Thailand Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 6/17/2027<br>| THB | &nbsp;&nbsp;120000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3802166 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.59%, 12/17/2035<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;80000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2532354 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 12/17/2029<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;63400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2041485 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 6/17/2035<br>| THB | &nbsp;&nbsp;122700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3896399 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.66%, 3/17/2030<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;85000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2744854 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 6/17/2049<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;52000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510750 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/17/2031<br>| THB | &nbsp;&nbsp;125000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4120312 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 6/17/2042<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;49000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1517587 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.05%, 4/17/2028<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;75000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2429931 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 3/17/2027<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;79817000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2567707 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 11/17/2027<br>| THB | &nbsp;&nbsp;140000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4551398 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 3/17/2029<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;94200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3104879 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.41%, 3/17/2035<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;70000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2375332 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/17/2029<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;56080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1866179 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 6/17/2071<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;59000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848121 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.65%, 6/17/2028<br>| THB | &nbsp;&nbsp;103500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3401816 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 6/17/2040<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;60000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2081051 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 6/17/2052<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1703863 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 6/17/2034<br>| THB | &nbsp;&nbsp;110000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3828552 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 12/17/2028<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;77510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2582290 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 6/17/2046<br>| THB | &nbsp;&nbsp;100955000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3474061 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.98%, 6/17/2045<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;31000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093334 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;3.14%, 6/17/2047<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;27250000 | &nbsp;&nbsp;$962323 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 6/17/2050<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;32000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139708 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.30%, 6/17/2038<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;70136000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2565220 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.35%, 6/17/2033<br>| THB | &nbsp;&nbsp;107000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3861757 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.39%, 6/17/2037<br>| THB | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3690260 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 6/17/2036<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;51940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1904213 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 6/17/2043<br>| THB | &nbsp;&nbsp;115000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4256452 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.58%, 12/17/2027<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154672 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.60%, 6/17/2067<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;59000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2395756 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.65%, 6/20/2031<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;61575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2194466 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.78%, 6/25/2032<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;91120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3323218 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 6/14/2041<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;12750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494873 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 6/17/2055<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;47000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967437 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 6/17/2066<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;88080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3867582 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 6/17/2072<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;16000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723671 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.68%, 6/29/2044<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;78400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3386006 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 6/17/2061<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;53195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2618353 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 6/22/2029<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;88904000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3175486 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.67%, 3/13/2028<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348081 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102103955 |
| **TURKEY — 3.0%** | **TURKEY — 3.0%** | **TURKEY — 3.0%** |  |
| Turkiye Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.10%, 2/16/2028<br>| TRY | &nbsp;&nbsp;110000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662091 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.28%, 9/15/2027<br>| TRY | &nbsp;&nbsp;237735000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3933168 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.40%, 10/13/2032<br>| TRY | &nbsp;&nbsp;255000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2878439 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.50%, 8/11/2027<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;70604000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190612 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.60%, 2/11/2026<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;89224000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2019690 |
| &nbsp;&nbsp;&nbsp;&nbsp;11.00%, 2/24/2027<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;21938000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404793 |
| &nbsp;&nbsp;&nbsp;&nbsp;11.70%, 11/13/2030<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32153 |
| &nbsp;&nbsp;&nbsp;&nbsp;12.40%, 3/8/2028<br>| TRY | &nbsp;&nbsp;119330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1920259 |
| &nbsp;&nbsp;&nbsp;&nbsp;16.90%, 9/2/2026<br>| TRY | &nbsp;&nbsp;110100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2314817 |
| &nbsp;&nbsp;&nbsp;&nbsp;17.30%, 7/19/2028<br>| TRY | &nbsp;&nbsp;166000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2961026 |
| &nbsp;&nbsp;&nbsp;&nbsp;17.80%, 7/13/2033<br>| TRY | &nbsp;&nbsp;175500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2882598 |
| &nbsp;&nbsp;&nbsp;&nbsp;20.20%, 6/9/2027<br>| TRY | &nbsp;&nbsp;136500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700894 |
| &nbsp;&nbsp;&nbsp;&nbsp;21.50%, 4/28/2032<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;73000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1349299 |
| &nbsp;&nbsp;&nbsp;&nbsp;26.20%, 10/5/2033<br>| TRY | &nbsp;&nbsp;442316380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10004978 |
| &nbsp;&nbsp;&nbsp;&nbsp;27.70%, 9/27/2034<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;70000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1659481 |
| &nbsp;&nbsp;&nbsp;&nbsp;30.00%, 9/12/2029<br>| TRY | &nbsp;&nbsp;190000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4303242 |
| &nbsp;&nbsp;&nbsp;&nbsp;31.08%, 11/8/2028<br>| TRY | &nbsp;&nbsp;467400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10767040 |
| &nbsp;&nbsp;&nbsp;&nbsp;32.60%, 2/10/2027<br>| TRY | &nbsp;&nbsp;242000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5538038 |
| &nbsp;&nbsp;&nbsp;&nbsp;34.10%, 7/10/2030<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;12600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313107 |
| &nbsp;&nbsp;&nbsp;&nbsp;36.00%, 8/12/2026<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;55000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289598 |
| &nbsp;&nbsp;&nbsp;&nbsp;37.00%, 2/18/2026<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;43650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016425 |
| &nbsp;&nbsp;&nbsp;&nbsp;37.84%, 7/14/2027<br>| TRY | &nbsp;&nbsp;197000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4766491 |
| &nbsp;&nbsp;&nbsp;&nbsp;41.00%, 5/5/2027<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495061 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66403300 |
| **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $2,163,963,412)<br>** | **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $2,163,963,412)<br>** | **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $2,163,963,412)<br>** | &nbsp;&nbsp;&nbsp;2168855618 |

---

&nbsp;&nbsp;&nbsp;&nbsp;

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG EMERGING MARKETS LOCAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 0.7%** | **SHORT-TERM INVESTMENTS — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (b) (c) | &nbsp;&nbsp;2405831 | &nbsp;&nbsp;$2405831 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (d) (e) | 12174495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12174495 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $14,580,326)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $14,580,326)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14580326 |
| **TOTAL INVESTMENTS — 98.0%<br>(Cost $2,178,543,738)<br>** | **TOTAL INVESTMENTS — 98.0%<br>(Cost $2,178,543,738)<br>** | &nbsp;&nbsp;&nbsp;2183435944 |
| **OTHER ASSETS IN EXCESS OF<br>LIABILITIES — 2.0% <br>** | **OTHER ASSETS IN EXCESS OF<br>LIABILITIES — 2.0% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44830351 |
| **NET ASSETS — 100.0% <br>** | **NET ASSETS — 100.0% <br>** | $2228266295 |

---

(a) All or a portion of the shares of the security are on loan at December 31, 2025.

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

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

(d) The Fund invested in an affiliated entity. Amounts related to these investments during the year ended December 31, 2025 are shown in the Affiliate Table below.

(e) Investment of cash collateral for securities loaned.

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

---

| | |
|:---|:---|
| Abbreviations: |  |
| EMTN | Euro Medium Term Note |
| GMTN | Global Medium Term Note |
| BRL | Brazilian Real |
| CLP | Chilean Peso |
| CNY | China Yuan Renminbi |
| COP | Colombian Peso |
| CZK | Czech Koruna |
| HUF | Hungary Forint |
| IDR | Indonesia Rupiah |
| ILS | Israeli New Shekel |
| INR | Indian Rupee |
| KRW | South Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| PEN | Peru Nuevo Sol |
| PHP | Philippines Peso |
| PLN | Polish Zloty |
| RON | Romania New Leu |
| THB | Thai Baht |
| TRY | Turkish New Lira |
| ZAR | South African Rand |

---

At December 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)** |
| Barclays Capital PLC | &nbsp;&nbsp;&nbsp;&nbsp;USD3,461,789 | &nbsp;&nbsp;&nbsp;&nbsp;KRW5,000,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;$7818 |
| Barclays Capital PLC | &nbsp;&nbsp;&nbsp;&nbsp;KRW1,000,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;USD690,655 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3266) |
| Barclays Capital PLC | &nbsp;&nbsp;&nbsp;&nbsp;KRW3,000,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;USD2,071,966 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9797) |
| Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;USD4,831,918 | &nbsp;&nbsp;&nbsp;&nbsp;PLN17,500,000 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35653 |
| Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;ZAR45,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;USD2,646,382 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68936) |
| Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;PLN17,500,000 | &nbsp;&nbsp;&nbsp;&nbsp;USD4,827,047 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40524) |
| Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;USD2,634,644 | &nbsp;&nbsp;&nbsp;&nbsp;ZAR45,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80673 |
| Goldman Sachs Bank USA | &nbsp;&nbsp;&nbsp;&nbsp;USD2,002,893 | &nbsp;&nbsp;&nbsp;&nbsp;INR180,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(599) |
| Goldman Sachs Bank USA | &nbsp;&nbsp;&nbsp;&nbsp;BRL25,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;USD4,690,467 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131673 |
| Standard Chartered Bank | &nbsp;&nbsp;&nbsp;&nbsp;USD1,450,268 | &nbsp;&nbsp;&nbsp;&nbsp;INR130,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4167) |
| Standard Chartered Bank | &nbsp;&nbsp;&nbsp;&nbsp;USD222,817 | &nbsp;&nbsp;&nbsp;&nbsp;INR20,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(340) |
| UBS AG | &nbsp;&nbsp;&nbsp;&nbsp;USD4,683,347 | &nbsp;&nbsp;&nbsp;&nbsp;BRL25,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;01/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(124554) |
| Total |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$3634 |

---

---

| | |
|:---|:---|
| BRL | Brazilian Real |
| INR | Indian Rupee |
| KRW | South Korean Won |
| PLN | Polish Zloty |
| ZAR | South African Rand |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG EMERGING MARKETS LOCAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

During the year ended December 31, 2025, the average notional value related to forward foreign currency exchange contracts was $64,561,274.

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of December 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:** |  |  |  |  |
| Foreign Government Obligations<br>| $— | $2168855618 | $— | $2168855618 |
| Short-Term Investments<br>| &nbsp;&nbsp;14580326 | &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;14580326 |
| **TOTAL INVESTMENTS<br>**  | $14580326 | $2168855618 | $— | $2183435944 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts -<br>Unrealized Appreciation<br>| $— | $255817 | $— | $255817 |
| 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;(252183) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(252183) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | $— | $3634 | $— | $3634 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 12/31/24** | **Value at<br>12/31/24** | **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> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| &nbsp;&nbsp;3777202 | $3777202 | $366491253 | $367862624 | $— | $— | &nbsp;&nbsp;2405831 | $2405831 | $183693 |
| State Street Navigator Securities Lending Portfolio II<br>| 25029574 | &nbsp;&nbsp;25029574 | &nbsp;&nbsp;107042727 | &nbsp;&nbsp;119897806 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 12174495 | &nbsp;&nbsp;12174495 | &nbsp;&nbsp;&nbsp;59147 |
| Total<br>|  | $28806776 | $473533980 | $487760430 | $— | $— |  | $14580326 | $242840 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 98.2%** | **CORPORATE BONDS & NOTES — 98.2%** | **CORPORATE BONDS & NOTES — 98.2%** |  |
| **AUSTRALIA — 1.0%** | **AUSTRALIA — 1.0%** | **AUSTRALIA — 1.0%** |  |
| Australia & New Zealand Banking Group Ltd. Series MTN, 4.95%, 2/5/2029<br>| AUD | &nbsp;&nbsp;200000 | &nbsp;&nbsp;$134158 |
| BHP Billiton Finance Ltd. Series 12, 4.30%, 9/25/2042 (a)<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341233 |
| Commonwealth Bank of Australia Series MTN, 4.90%, 8/17/2028<br>| AUD | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134090 |
| National Australia Bank Ltd.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 1.38%, 8/30/2028<br>| EUR | &nbsp;&nbsp;196000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223028 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 2.13%, 5/24/2028<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232383 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 2.90%, 2/25/2027<br>| AUD | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327840 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 2/28/2030<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591558 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 4.85%, 3/22/2029<br>| AUD | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133713 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 5.10%, 10/16/2035<br>| AUD | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259810 |
| Scentre Group Trust 1 Series MTN, 5.35%, 9/18/2035<br>| AUD | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381853 |
| Sydney Airport Finance Co. Pty. Ltd. Series EMTN, 4.38%, 5/3/2033<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552343 |
| Westpac Banking Corp.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 4.50%, 10/30/2030<br>| AUD | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163692 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 5.00%, 1/15/2029<br>| AUD | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134295 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 5.10%, 5/14/2029<br>| AUD | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336589 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3946585 |
| **BELGIUM — 2.0%** | **BELGIUM — 2.0%** | **BELGIUM — 2.0%** |  |
| Anheuser-Busch InBev SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.13%, 7/1/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345858 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.15%, 1/22/2027<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811780 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 4/18/2030 (a)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222712 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.65%, 3/28/2031<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109540 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.00%, 3/17/2028<br>| EUR | &nbsp;&nbsp;820000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950069 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.75%, 3/17/2036<br>| EUR | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811115 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.88%, 4/2/2032<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807036 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.38%, 5/19/2033 (a)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;$586296 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.45%, 9/22/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597155 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.70%, 4/2/2040<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615155 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.75%, 3/22/2037<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581535 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 5/19/2038<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579603 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.95%, 3/22/2044<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612722 |
| KBC Group NV Series EMTN, 3 mo. EUR EURIBOR + 1.38%, 4.38%, 4/19/2030 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367271 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7997847 |
| **CANADA — 1.4%** | **CANADA — 1.4%** | **CANADA — 1.4%** |  |
| Bank of Montreal: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.00%, 3.75%, 7/10/2030 (b)<br>| EUR | &nbsp;&nbsp;173000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207431 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.05%, 3.25%, 1/9/2032 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583252 |
| Bank of Nova Scotia Series EMTN, 3.50%, 4/17/2029<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239643 |
| Canadian Imperial Bank of Commerce Series EMTN, 3 mo. EUR EURIBOR + 1.12%, 3.25%, 7/16/2031 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468108 |
| Royal Bank of Canada Series EMTN, 2.13%, 4/26/2029<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573359 |
| Toronto-Dominion Bank: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 1/18/2027<br>| EUR | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288075 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.95%, 4/8/2030<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783510 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.55%, 8/3/2027<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528674 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.88%, 4/5/2027<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397001 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 8/3/2032<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575886 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3.56%, 4/16/2031<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415248 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 12/13/2029<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599447 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5659634 |
| **CHINA — 0.0% <sup>\*</sup>** | **CHINA — 0.0% <sup>\*</sup>** | **CHINA — 0.0% <sup>\*</sup>** |  |
| Prosus NV 1.29%, 7/13/2029<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109663 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **DENMARK — 1.5%** | **DENMARK — 1.5%** | **DENMARK — 1.5%** |  |
| Carlsberg Breweries AS: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.00%, 8/28/2029<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;$589093 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 2/28/2032<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409023 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.50%, 2/28/2035<br>| EUR | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172699 |
| Danske Bank AS: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EUR Swap + 1.25%, 4.13%, 1/10/2031 (b)<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428348 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 1.70%, 4.75%, 6/21/2030 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619805 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. U.K. Government Bond + 1.65%, 2.25%, 1/14/2028 (b)<br>| GBP | &nbsp;&nbsp;108000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142371 |
| DSV Finance BV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 11/6/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355892 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 11/6/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472952 |
| Novo Nordisk Finance Netherlands BV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.38%, 5/27/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467486 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.88%, 8/27/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351414 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 1/21/2029<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238134 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 1/21/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593251 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.38%, 5/21/2034<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816829 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 5/27/2037<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464710 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6122007 |
| **FINLAND — 0.9%** | **FINLAND — 0.9%** | **FINLAND — 0.9%** |  |
| Nordea Bank Abp: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 5/14/2027<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687421 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 11/2/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551241 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.13%, 2/16/2027<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404989 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.13%, 9/27/2027<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114925 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.50%, 5/23/2029<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232760 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.75%, 5/2/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466203 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 6/11/2029<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 3/15/2034<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118085 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 5/5/2028<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;$424367 |
| OP Corporate Bank PLC Series EMTN, 0.10%, 11/16/2027<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112465 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3471556 |
| **FRANCE — 21.1%** | **FRANCE — 21.1%** | **FRANCE — 21.1%** |  |
| Abertis France SAS Series EMTN, 1.48%, 1/18/2031<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321509 |
| Air Liquide Finance SA Series EMTN, 1.25%, 6/13/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341028 |
| Airbus SE: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.63%, 6/9/2030<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612615 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.38%, 4/7/2032<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.38%, 6/9/2040<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195255 |
| Autoroutes du Sud de la France SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 1/18/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348124 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 1/22/2030<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221668 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 2/21/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539801 |
| Ayvens SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 2/22/2027<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119191 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 1/24/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360949 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.88%, 10/6/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494746 |
| Banque Federative du Credit Mutuel SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 7/19/2028<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660279 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 11/3/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330942 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 2/21/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408333 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 1/17/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106857 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.13%, 1/19/2032<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305947 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 5/26/2027<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692720 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.75%, 3/15/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451481 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.63%, 11/6/2029<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345965 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.00%, 5/7/2030<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 9/14/2027<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592946 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 10/17/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466392 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 3/7/2035<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;$345415 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.75%, 2/1/2033<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711859 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.75%, 2/3/2034<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353459 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 1/26/2028<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720979 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 3/13/2029<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608617 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 6/14/2033<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606862 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.38%, 5/2/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489653 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.75%, 11/10/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622937 |
| BNP Paribas SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 12/3/2032<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675417 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 7/13/2031<br>| GBP | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222475 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 5/28/2029<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555747 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 5/23/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114240 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 5/25/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114206 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 12/14/2027<br>| GBP | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128254 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.10%, 4/7/2032<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647040 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 9/1/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.10%, 2/13/2034<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599874 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 5/24/2033<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488430 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 5.75%, 6/13/2032<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.73%, 0.50%, 2/19/2028 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573511 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.83%, 0.50%, 1/19/2030 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217725 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.95%, 0.50%, 9/1/2028 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680069 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 1.35%, 1.13%, 4/17/2029 (b)<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790536 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.78%, 3.88%, 2/23/2029 (b)<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120577 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.80%, 2.88%, 5/6/2030 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584885 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.83%, 0.88%, 7/11/2030 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;$434054 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.92%, 3.88%, 1/10/2031 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482967 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.95%, 4.13%, 9/26/2032 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611583 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.05%, 3.49%, 9/17/2033 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579556 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.20%, 3.58%, 1/15/2031 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593653 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.37%, 2.75%, 7/25/2028 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.37%, 4.25%, 4/13/2031 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487417 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.45%, 4.38%, 1/13/2029 (a) (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605076 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.50%, 3.98%, 5/6/2036 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353110 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.60%, 4.75%, 11/13/2032 (a) (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746795 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 5 yr. U.K. Government Bond + 1.55%, 6.00%, 8/18/2029 (b)<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419599 |
| Bouygues SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 2/11/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319402 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 7/24/2028<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227018 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 6/7/2027<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115880 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/29/2029<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693088 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 6/30/2037<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445712 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 7/17/2031<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363709 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 6/7/2032 (a)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626962 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.38%, 6/30/2042<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388912 |
| BPCE SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 1/14/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405807 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 2/24/2027<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229638 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 3/3/2031<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308927 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.00%, 10/5/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112463 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.00%, 1/14/2032<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202695 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.75%, 4/26/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465429 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.50%, 1/25/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;$597477 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 1/11/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481091 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 1/25/2036<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235528 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.00%, 11/29/2032<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725097 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.38%, 7/13/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365534 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.50%, 1/13/2033<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615423 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.20%, 3.63%, 10/1/2033 (b)<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.45%, 3.88%, 2/26/2036 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698334 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.45%, 4.13%, 3/8/2033 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481235 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.47%, 4.00%, 1/20/2034 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475220 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.60%, 4.63%, 3/2/2030 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.85%, 4.25%, 1/11/2035 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482791 |
| Capgemini SE: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 4/15/2029<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800219 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 4/15/2032 (a)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331712 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 9/25/2031<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231935 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 9/25/2034<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458672 |
| Cie de Saint-Gobain SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.88%, 3/15/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442021 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.38%, 4/8/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476048 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 4/8/2034 (a)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352592 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 11/29/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121463 |
| Cie Generale des Etablissements Michelin SCA 1.75%, 9/3/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445162 |
| Credit Agricole SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.13%, 12/9/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336189 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.38%, 4/20/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445821 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.88%, 1/14/2032<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202884 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.00%, 7/3/2029<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220715 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.13%, 2/24/2029<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;$334797 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 5/3/2027<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231617 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.75%, 3/5/2029<br>| EUR | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904135 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.88%, 12/20/2026<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584997 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.50%, 8/29/2029<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348149 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 2/26/2032<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464934 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.38%, 7/28/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476135 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 9/26/2034<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459702 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.75%, 1/22/2034<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591794 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.75%, 5/27/2035<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232630 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 4/20/2031<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847393 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 11/28/2034<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833074 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.00%, 1/18/2033<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363584 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 3/7/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367491 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 2/26/2036<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477784 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.38%, 11/27/2033<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490084 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 10/23/2029<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408471 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.68%, 0.50%, 9/21/2029 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441051 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.92%, 3.25%, 8/25/2032 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347868 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.45%, 4.25%, 7/11/2029 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606600 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. U.K. Government Bond + 1.20%, 5.50%, 7/31/2032 (b)<br>| GBP | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276387 |
| Credit Mutuel Arkea SA Series EMTN, 3.38%, 9/19/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357226 |
| Danone SA Series EMTN, 1.21%, 11/3/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339493 |
| Dassault Systemes SE 0.38%, 9/16/2029<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214552 |
| Engie SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 10/24/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312303 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 1/11/2030<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601755 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.00%, 1/11/2035<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;$479472 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 5.00%, 10/1/2060<br>| GBP | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394825 |
| EssilorLuxottica SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.38%, 11/27/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339130 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 6/5/2028 (a)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336098 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 11/27/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412112 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.63%, 1/10/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349212 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.88%, 3/5/2029<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707423 |
| HSBC Continental Europe SA Series EMTN, 0.10%, 9/3/2027<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564580 |
| Kering SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.38%, 3/11/2032<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469326 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 9/5/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476888 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 9/5/2035<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352928 |
| L'Oreal SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.88%, 5/19/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593568 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.38%, 1/19/2036<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347124 |
| LVMH Moet Hennessy Louis Vuitton SE: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 2/11/2028 (a)<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783466 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.38%, 2/11/2031<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207546 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.13%, 2/11/2027<br>| GBP | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130517 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.63%, 3/7/2029 (a)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469281 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 9/7/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478590 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.50%, 9/7/2033<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598265 |
| Orange SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 9/4/2032<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 12/16/2033<br>| EUR | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 3/20/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572129 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 1/16/2030<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.88%, 9/12/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334385 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.00%, 1/15/2029 (a)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460270 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 1/15/2032<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373181 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.75%, 9/4/2037<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;$230581 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.75%, 5/13/2038<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798356 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 55, 8.13%, 1/28/2033<br>| EUR | &nbsp;&nbsp;536000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814502 |
| Pernod Ricard SA 1.75%, 4/8/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111657 |
| Societe Generale SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.13%, 2/18/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111511 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.25%, 7/8/2027<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567980 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 1/25/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461252 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 6/12/2030<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.75%, 3/22/2029<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.13%, 9/27/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115343 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.63%, 5/30/2029<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233740 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 2/12/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472209 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.00%, 11/16/2027<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241062 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 6/2/2027<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720456 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 11/21/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488088 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.25%, 11/16/2032<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493912 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 0.95%, 0.50%, 6/12/2029 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443356 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 1.28%, 0.88%, 9/22/2028 (b)<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113963 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.08%, 3.50%, 3/1/2032 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350389 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.35%, 3.63%, 11/13/2030 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475258 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.37%, 3.38%, 5/14/2030 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590032 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.40%, 3.75%, 9/2/2033 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350343 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.45%, 3.75%, 7/15/2031 (b)<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118912 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.50%, 4.75%, 9/28/2029 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737322 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.73%, 4.13%, 5/14/2036 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473134 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.80%, 4.25%, 12/6/2030 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;$728976 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.90%, 4.88%, 11/21/2031 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498984 |
| Suez SACA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.88%, 5/24/2034<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435143 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 5.00%, 11/3/2032<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253035 |
| TotalEnergies Capital Canada Ltd. Series EMTN, 2.13%, 9/18/2029<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802250 |
| TotalEnergies Capital International SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 7/12/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335850 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 10/4/2029<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111947 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.49%, 4/8/2027<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580586 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.62%, 5/18/2040<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512552 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.99%, 4/8/2032<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763837 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.08%, 7/1/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.16%, 3/3/2033<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347669 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.65%, 7/1/2035<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349361 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.85%, 3/3/2045<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215234 |
| Unibail-Rodamco-Westfield SE: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 5/4/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343919 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 12/4/2031<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310206 |
| Vinci SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.63%, 1/18/2029<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341549 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.75%, 9/26/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444881 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84250674 |
| **GERMANY — 9.7%** | **GERMANY — 9.7%** | **GERMANY — 9.7%** |  |
| Allianz Finance II BV Series 62, 4.50%, 3/13/2043<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358369 |
| Amprion GmbH 3.97%, 9/22/2032<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363328 |
| Aroundtown SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.38%, 4/15/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455669 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.50%, 5/13/2030<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232018 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| BASF SE: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.25%, 6/5/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;$341979 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.88%, 11/15/2027<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114290 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 3/17/2031 (a)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434110 |
| Bayer AG: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.38%, 1/12/2029<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653615 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.63%, 7/12/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405918 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 1/6/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461266 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 1/6/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326109 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTF, 1.38%, 7/6/2032<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309288 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.63%, 5/26/2033<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561650 |
| Bayer Capital Corp. BV 2.13%, 12/15/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454100 |
| BMW Finance NV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 2/6/2029<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397109 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.63%, 5/20/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117530 |
| BMW International Investment BV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.00%, 8/27/2027<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532798 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 7/22/2029 (a)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473411 |
| BMW U.S. Capital LLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.00%, 11/2/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473413 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.38%, 2/2/2034<br>| EUR | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288821 |
| Deutsche Bank AG: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 1.50%, 1.38%, 2/17/2032 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211849 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 2.05%, 1.75%, 11/19/2030 (b)<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776093 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.60%, 2.63%, 8/13/2028 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234182 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.05%, 3.00%, 6/16/2029 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586739 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.25%, 3.38%, 2/13/2031 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587085 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.25%, 3.75%, 1/15/2030 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480472 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.38%, 1.88%, 2/23/2028 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232791 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.50%, 4.13%, 4/4/2030 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724661 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.70%, 4.50%, 7/12/2035 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;$368320 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 2.95%, 5.00%, 9/5/2030 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744576 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, Sterling Overnight Index Average + 2.62%, 6.13%, 12/12/2030 (b)<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423004 |
| Deutsche Boerse AG 3.88%, 9/28/2033<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242266 |
| Deutsche Post AG Series EMTN, 3.50%, 3/25/2036<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349636 |
| Deutsche Telekom AG: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 7/5/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342959 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.75%, 3/25/2031<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221373 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 2/3/2045<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431683 |
| Deutsche Telekom International Finance BV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 4/3/2028<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629074 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.00%, 12/1/2029<br>| EUR | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195018 |
| E.ON International Finance BV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 7/31/2029<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 5.88%, 10/30/2037<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 6.13%, 7/6/2039<br>| GBP | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482782 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 11024, 6.25%, 6/3/2030<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431187 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 4, 6.38%, 6/7/2032<br>| GBP | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639298 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 6.75%, 1/27/2039<br>| GBP | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145738 |
| E.ON SE: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.38%, 9/29/2027<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113401 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 1/12/2035<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481341 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 3/25/2044<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346685 |
| Eurogrid GmbH Series EMTN, 3.73%, 10/18/2035<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463048 |
| Grand City Properties SA Series EMTN, 0.13%, 1/11/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555915 |
| Mercedes-Benz Group AG: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 9/10/2030<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372659 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 3/11/2033<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;$442415 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.00%, 11/15/2027<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685936 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.13%, 11/6/2031<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105265 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 5/11/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567884 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 7/3/2029<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394601 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.13%, 7/3/2037<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599494 |
| Mercedes-Benz International Finance BV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 5/6/2027<br>| EUR | &nbsp;&nbsp;316000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362311 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 11/15/2030<br>| EUR | &nbsp;&nbsp;284000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336302 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.70%, 5/30/2031<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363428 |
| Robert Bosch GmbH: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 6/2/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480163 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.00%, 6/2/2035<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119026 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.38%, 6/2/2043<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693144 |
| RWE AG Series EMTN, 2.75%, 5/24/2030<br>| EUR | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395950 |
| SAP SE: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 3/10/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572695 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 3/10/2031<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660730 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.75%, 2/22/2027<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116876 |
| Siemens Financieringsmaatschappij NV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.25%, 2/20/2029<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219028 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 9/5/2034<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 9/6/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446883 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.63%, 5/27/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470211 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.88%, 3/10/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.00%, 11/22/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476171 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.00%, 9/8/2033<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577545 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 5/22/2032<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705248 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.38%, 8/24/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480048 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 2/22/2037<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343102 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 5/27/2036<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;$587136 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 2/22/2044<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439939 |
| Traton Finance Luxembourg SA Series EMTN, 0.75%, 3/24/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435565 |
| Volkswagen Financial Services AG: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.13%, 2/12/2027<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571153 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.88%, 1/31/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564253 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 5/19/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354806 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 5/19/2029<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237835 |
| Volkswagen International Finance NV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.88%, 9/22/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556785 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.63%, 1/16/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111067 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 10Y, 1.88%, 3/30/2027<br>| EUR | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929975 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/18/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116845 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 11/16/2038<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577328 |
| Volkswagen Leasing GmbH Series EMTN, 3.88%, 10/11/2028<br>| EUR | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300543 |
| Vonovia SE: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.25%, 9/1/2028<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219952 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 12/14/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427274 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 9/1/2032<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390021 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 6/16/2033<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385496 |
| Wintershall Dea Finance BV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.33%, 9/25/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334365 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.82%, 9/25/2031<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103997 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38844203 |
| **IRELAND — 0.2%** | **IRELAND — 0.2%** | **IRELAND — 0.2%** |  |
| AIB Group PLC Series EMTN, 1 yr. EUR Swap + 1.30%, 2.25%, 4/4/2028 (b)<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526374 |
| Flutter Treasury DAC 6.13%, 6/4/2031<br>| GBP | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135445 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661819 |
| **ITALY — 5.2%** | **ITALY — 5.2%** | **ITALY — 5.2%** |  |
| ASTM SpA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 1/25/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442612 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.38%, 11/25/2033<br>| EUR | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262096 |
| Autostrade per l'Italia SpA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/4/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572447 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 1/15/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336587 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Enel Finance International NV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.25%, 6/17/2027 (c)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;$341190 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.38%, 6/17/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341925 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 5/28/2029 (c)<br>| EUR | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 6/17/2030 (c)<br>| EUR | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689587 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.88%, 9/28/2034<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418747 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.88%, 6/17/2036<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174974 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.88%, 4/11/2029<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385304 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 3/9/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484712 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 1/23/2035<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474665 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 5.75%, 9/14/2040<br>| GBP | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552351 |
| Eni SpA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.38%, 6/14/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444625 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 1/23/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428186 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.00%, 5/18/2031<br>| EUR | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166371 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 1/29/2029<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601112 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 1/15/2034<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418868 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.25%, 5/19/2033<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490112 |
| Intesa Sanpaolo SpA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 3/16/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563916 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.75%, 3/20/2028<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634059 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.75%, 7/4/2029<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113086 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 10/16/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.75%, 9/6/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365275 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.88%, 5/19/2030<br>| EUR | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655167 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 5.13%, 8/29/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641734 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 6.63%, 5/31/2033<br>| GBP | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146677 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.48%, 3.85%, 9/16/2032 (b)<br>| EUR | &nbsp;&nbsp;726000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867094 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.70%, 5.00%, 3/8/2028 (b)<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;$542997 |
| Italgas SpA Series EMTN, 3.13%, 2/8/2029<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533985 |
| Nexi SpA 2.13%, 4/30/2029 (a)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225820 |
| Snam SpA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 7/1/2032<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 2/19/2034<br>| EUR | &nbsp;&nbsp;382000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453880 |
| Terna - Rete Elettrica Nazionale Series EMTN, 1.38%, 7/26/2027<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115611 |
| UniCredit SpA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.85%, 1/19/2031<br>| EUR | &nbsp;&nbsp;382000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400881 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.73%, 6/10/2035<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.00%, 3/5/2034<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481091 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.20%, 6/11/2034<br>| EUR | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180747 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.90%, 0.80%, 7/5/2029 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559136 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.85%, 0.93%, 1/18/2028 (b)<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115583 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.85%, 3.88%, 6/11/2028 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358439 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.90%, 3.20%, 9/22/2031 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466043 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.95%, 3.10%, 6/10/2031 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468737 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.98%, 3.30%, 7/16/2029 (b)<br>| EUR | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890363 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.40%, 3.80%, 1/16/2033 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356330 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.60%, 4.45%, 2/16/2029 (b)<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424917 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.80%, 4.30%, 1/23/2031 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367288 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.90%, 4.80%, 1/17/2029 (b)<br>| EUR | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641994 |
| Unipol Assicurazioni SpA Series EMTN, 3.25%, 9/23/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355702 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20812364 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **JAPAN — 2.0%** | **JAPAN — 2.0%** | **JAPAN — 2.0%** |  |
| Mitsubishi UFJ Financial Group, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.12%, 3.56%, 9/5/2032 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;$474290 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.34%, 3.87%, 6/10/2036 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235798 |
| Mizuho Financial Group, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.69%, 10/7/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367071 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 0.72%, 0.47%, 9/6/2029 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441311 |
| NTT Finance Corp.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.34%, 3/3/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421890 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 18, 0.38%, 9/20/2030<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1183734 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 26, 0.84%, 6/20/2033<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572262 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 32, 0.97%, 6/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620370 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.91%, 3/16/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587824 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.68%, 7/16/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826662 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.09%, 7/16/2037<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237743 |
| Panasonic Holdings Corp. Series 24, 0.71%, 9/14/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621871 |
| Sumitomo Mitsui Financial Group, Inc. Series EMTN, 0.63%, 10/23/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215207 |
| Takeda Pharmaceutical Co. Ltd.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 7/9/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518580 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 7/9/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178683 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/21/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583576 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8086872 |
| **MEXICO — 0.1%** | **MEXICO — 0.1%** | **MEXICO — 0.1%** |  |
| America Movil SAB de CV 4.38%, 8/7/2041<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226881 |
| **NETHERLANDS — 4.5%** | **NETHERLANDS — 4.5%** | **NETHERLANDS — 4.5%** |  |
| ABN AMRO Bank NV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 9/23/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536417 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 1/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230652 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 6/2/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196135 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 1/20/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98249 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.75%, 6/4/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587344 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 1/21/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118599 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 1/15/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480655 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.00%, 1/16/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;$482163 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.25%, 2/21/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367592 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 10/20/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611908 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/21/2034<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622907 |
| Cooperatieve Rabobank UA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 1.13%, 5/7/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528608 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 1.38%, 2/3/2027<br>| EUR | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3.55%, 10/8/2035<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578211 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3.82%, 7/26/2034<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238707 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.00%, 1/10/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365388 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3 mo. EUR EURIBOR - 1.18%, 0.88%, 5/5/2028 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229805 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3 mo. EUR EURIBOR + 1.15%, 4.23%, 4/25/2029 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606075 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3 mo. EUR EURIBOR + 1.55%, 4.63%, 1/27/2028 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480026 |
| ING Groep NV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 1/11/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344076 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.00%, 9/20/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346258 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.50%, 11/15/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343214 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 0.68%, 0.25%, 2/18/2029 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667731 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 0.70%, 0.25%, 2/1/2030 (b)<br>| EUR | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864447 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 0.70%, 0.38%, 9/29/2028 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338879 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.92%, 3.00%, 8/17/2031 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581519 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.10%, 3.50%, 9/3/2030 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714354 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.15%, 1.75%, 2/16/2031 (b)<br>| EUR | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888424 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.15%, 3.38%, 11/19/2032 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468700 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.20%, 3.50%, 8/17/2036 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457950 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.30%, 3.75%, 9/3/2035 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;$470005 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.60%, 4.50%, 5/23/2029 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730770 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.72%, 3.88%, 8/12/2029 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240591 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.78%, 4.00%, 2/12/2035 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481517 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.90%, 4.75%, 5/23/2034 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754561 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 2.15%, 5.25%, 11/14/2033 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517857 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, Sterling Overnight Index Average + 0.91%, 1.13%, 12/7/2028 (b)<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380279 |
| Koninklijke KPN NV Series GMTN, 3.88%, 2/16/2036<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470490 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17839638 |
| **NORWAY — 0.7%** | **NORWAY — 0.7%** | **NORWAY — 0.7%** |  |
| DNB Bank ASA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.53%, 0.25%, 2/23/2029 (b)<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501564 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.32%, 0.38%, 1/18/2028 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229903 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.65%, 4.00%, 3/14/2029 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241635 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.00%, 4.50%, 7/19/2028 (b)<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120826 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.02%, 3.00%, 11/29/2030 (b)<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527663 |
| SpareBank 1 Sor-Norge ASA Series EMTN, 3.75%, 11/23/2027<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599400 |
| Var Energi ASA Series EMTN, 3.88%, 3/12/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590278 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2811269 |
| **PORTUGAL — 0.1%** | **PORTUGAL — 0.1%** | **PORTUGAL — 0.1%** |  |
| EDP Finance BV Series EMTN, 1.88%, 9/21/2029<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340008 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SPAIN — 5.4%** | **SPAIN — 5.4%** | **SPAIN — 5.4%** |  |
| Abertis Infraestructuras SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.38%, 9/27/2027<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;$116959 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.00%, 3/27/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463330 |
| Banco Bilbao Vizcaya Argentaria SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 0.50%, 1/14/2027<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230241 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 7/15/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117439 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3.38%, 9/20/2027<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714539 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.50%, 3/26/2031<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119871 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3.75%, 8/26/2035<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 1/15/2034 (a)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484991 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 4.38%, 10/14/2029<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743268 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 0.82%, 0.88%, 1/14/2029 (a) (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680576 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.70%, 4.63%, 1/13/2031 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496883 |
| Banco Santander SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.20%, 2/11/2028<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223524 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 2/4/2027<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230034 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.00%, 11/4/2031<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103269 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.13%, 6/23/2027<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230278 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 5/27/2032<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584427 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.50%, 10/2/2032<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.50%, 2/17/2035<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346412 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.75%, 1/9/2034<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715008 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 1/16/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 4/22/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482634 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.25%, 6/12/2030<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.88%, 10/18/2031<br>| EUR | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011046 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EUR Swap - 0.78%, 0.63%, 6/24/2029 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222842 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EUR Swap + 0.95%, 3.50%, 1/9/2028 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;$237371 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EUR Swap + 1.15%, 3.50%, 1/9/2030 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358771 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 1.00%, 3.25%, 4/2/2029 (b)<br>| EUR | &nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066467 |
| CaixaBank SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.38%, 6/26/2035<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345755 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.75%, 9/7/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484263 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.25%, 9/6/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.38%, 11/29/2033<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249789 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 1.00%, 0.75%, 5/26/2028 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458296 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.62%, 0.63%, 1/21/2028 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230410 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.30%, 3.63%, 9/19/2032 (a) (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592469 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.35%, 3.75%, 1/27/2036 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.50%, 4.13%, 2/9/2032 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607978 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.65%, 5.00%, 7/19/2029 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493906 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 2.40%, 5.38%, 11/14/2030 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508539 |
| Cellnex Finance Co. SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.00%, 9/15/2027<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571781 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 6/8/2028<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228046 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.00%, 2/15/2033<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209712 |
| Cellnex Telecom SA Series EMTN, 1.75%, 10/23/2030 (a)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437545 |
| Iberdrola Finanzas SA Series EMTN, 1.38%, 3/11/2032<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106096 |
| Santander Consumer Finance SA Series EMTN, 3.75%, 1/17/2029<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602428 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Telefonica Emisiones SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.66%, 2/3/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;$106931 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.20%, 8/21/2027<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.45%, 1/22/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465974 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.72%, 1/12/2028<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231448 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.79%, 3/12/2029<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113797 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.59%, 5/25/2031<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227747 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.70%, 1/24/2032<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596432 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.72%, 1/23/2034<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464106 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21634420 |
| **SWEDEN — 1.5%** | **SWEDEN — 1.5%** | **SWEDEN — 1.5%** |  |
| Skandinaviska Enskilda Banken AB: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.38%, 2/11/2027<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229671 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 0.38%, 6/21/2028<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221812 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 11/12/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429054 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 8/9/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342647 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.38%, 3/19/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356401 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3.75%, 2/7/2028<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660062 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 5/9/2028<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664434 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 6/29/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481429 |
| Svenska Handelsbanken AB: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.05%, 9/6/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109752 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 2/18/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423629 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 2/23/2029<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336836 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 2/17/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597022 |
| Swedbank AB: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.10%, 5/25/2027<br>| EUR | &nbsp;&nbsp;478000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 4.13%, 11/13/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488379 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900380 |
| **SWITZERLAND — 2.9%** | **SWITZERLAND — 2.9%** | **SWITZERLAND — 2.9%** |  |
| Holcim Finance Luxembourg SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 9/3/2030<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208601 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.25%, 5/26/2028 (a)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;$694249 |
| Lonza Finance International NV Series EMTN, 3.88%, 4/24/2036<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467812 |
| Richemont International Holding SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 3/26/2030 (a)<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610093 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/26/2038<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488462 |
| UBS AG: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.25%, 9/1/2028<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385231 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 3/31/2031<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205868 |
| UBS Group AG: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 2/24/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446434 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 1/18/2033<br>| EUR | &nbsp;&nbsp;563000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541404 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.63%, 2/24/2033<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287491 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.65%, 9/10/2029<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216014 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.88%, 11/3/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409418 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EUR Swap - 0.77%, 0.25%, 11/5/2028 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674558 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EUR Swap + 1.95%, 2.88%, 4/2/2032 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343590 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 0.78%, 2.88%, 2/12/2030 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701984 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 1.05%, 3.25%, 2/12/2034 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687895 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 1.15%, 3.76%, 8/11/2036 (b)<br>| EUR | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291631 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 1.15%, 4.63%, 3/17/2028 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360605 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 1.35%, 3.13%, 6/15/2030 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470597 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 1.55%, 4.38%, 1/11/2031 (b)<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122756 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EURIBOR ICE Swap + 1.75%, 4.13%, 6/9/2033 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727607 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EURIBOR ICE Swap + 4.95%, 7.75%, 3/1/2029 (b)<br>| EUR | &nbsp;&nbsp;754000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975177 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. U.K. Government Bond + 2.23%, 2.25%, 6/9/2028 (b)<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;$392300 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. U.K. Government Bond + 4.55%, 7.38%, 9/7/2033 (b)<br>| GBP | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152366 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap - 0.77%, 0.65%, 1/14/2028 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575967 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11438110 |
| **UNITED KINGDOM — 9.9%** | **UNITED KINGDOM — 9.9%** | **UNITED KINGDOM — 9.9%** |  |
| Anglian Water Services Financing PLC Series GMTN, 6.25%, 9/12/2044<br>| GBP | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258695 |
| Barclays PLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 2/12/2027<br>| GBP | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133050 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 1/17/2033<br>| GBP | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476583 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EUR Swap - 1.26%, 0.58%, 8/9/2029 (b)<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774793 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EUR Swap + 1.75%, 4.92%, 8/8/2030 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621562 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EUR Swap + 2.55%, 5.26%, 1/29/2034 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385757 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EURIBOR ICE Swap + 0.85%, 0.88%, 1/28/2028 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230692 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 1.18%, 3.79%, 10/31/2036 (b)<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519095 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EURIBOR ICE Swap + 1.55%, 4.35%, 5/8/2035 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727630 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EURIBOR ICE Swap + 2.05%, 4.51%, 1/31/2033 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492304 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. GBP SONIA Linked ICE Swap + 1.61%, 5.75%, 7/31/2032 (b)<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417082 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. GBP Swap + 2.55%, 7.09%, 11/6/2029 (b)<br>| GBP | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536911 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. U.K. Government Bond + 2.80%, 6.37%, 1/31/2031 (b)<br>| GBP | &nbsp;&nbsp;506000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719847 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sterling Overnight Index Average + 2.06%, 5.85%, 3/21/2035 (b)<br>| GBP | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276370 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EUR Swap + 1.00%, 1.11%, 5/12/2032 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;$207866 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 1.38%, 3.54%, 8/14/2031 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591278 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EURIBOR ICE Swap + 1.55%, 3.94%, 1/31/2036 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234443 |
| BAT International Finance PLC Series EMTN, 2.25%, 1/16/2030<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680669 |
| British Telecommunications PLC Series EMTN, 1.50%, 6/23/2027<br>| EUR | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173709 |
| Cadent Finance PLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.13%, 9/22/2028<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382224 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.63%, 9/22/2038<br>| GBP | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381615 |
| CCEP Finance Ireland DAC 0.88%, 5/6/2033<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295335 |
| CK Hutchison Group Telecom Finance SA 1.13%, 10/17/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111731 |
| Connect Plus M25 Issuer PLC 2.61%, 3/31/2039<br>| GBP | &nbsp;&nbsp;332002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374331 |
| Diageo Finance PLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.50%, 3/27/2032<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225623 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 2/28/2031<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352391 |
| DWR Cymru Financing U.K. PLC Series EMTN, 5.75%, 9/10/2044<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382746 |
| easyJet FinCo BV Series EMTN, 1.88%, 3/3/2028<br>| EUR | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727172 |
| GlaxoSmithKline Capital PLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 10/12/2028<br>| GBP | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250015 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.63%, 5/12/2035<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302704 |
| Heathrow Funding Ltd.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.63%, 10/31/2048<br>| GBP | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110108 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 5.88%, 5/13/2043<br>| GBP | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531028 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.45%, 12/10/2033<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433584 |
| HSBC Holdings PLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 8/16/2028<br>| GBP | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129193 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. GBP Swap + 1.65%, 3.00%, 7/22/2028 (b)<br>| GBP | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329805 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. GBP Swap + 1.77%, 3.00%, 5/29/2030 (b)<br>| GBP | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320560 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 0.78%, 0.64%, 9/24/2029 (b)<br>| EUR | &nbsp;&nbsp;289000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319875 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 1.03%, 0.77%, 11/13/2031 (a) (b)<br>| EUR | &nbsp;&nbsp;661000 | &nbsp;&nbsp;$688744 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 0.86%, 3.76%, 5/20/2029 (b)<br>| EUR | &nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748663 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.12%, 3.61%, 12/1/2033 (b)<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116713 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.19%, 3.45%, 9/25/2030 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593013 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.27%, 3.31%, 5/13/2030 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473334 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.29%, 4.75%, 3/10/2028 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361130 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.46%, 3.83%, 9/25/2035 (b)<br>| EUR | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765774 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.54%, 3.91%, 5/13/2034 (b)<br>| EUR | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392158 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.55%, 4.79%, 3/10/2032 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500387 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.94%, 4.86%, 5/23/2033 (b)<br>| EUR | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642205 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sterling Overnight Index Average + 1.73%, 5.29%, 9/16/2032 (b)<br>| GBP | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548746 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, Sterling Overnight Index Average + 1.81%, 5.81%, 5/22/2033 (b)<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420654 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sterling Overnight Index Average + 2.12%, 6.80%, 9/14/2031 (b)<br>| GBP | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409660 |
| Imperial Brands Finance Netherlands BV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.75%, 3/18/2033<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610442 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 5.25%, 2/15/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633216 |
| Imperial Brands Finance PLC Series EMTN, 3.88%, 2/12/2034<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230660 |
| Lloyds Bank PLC Series EMTN, 6.50%, 9/17/2040<br>| GBP | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389150 |
| Lloyds Banking Group PLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 9/12/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462258 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EUR Swap + 1.28%, 3.63%, 3/4/2036 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233240 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EUR Swap + 1.50%, 3.13%, 8/24/2030 (b)<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;$412041 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EUR Swap + 1.60%, 4.75%, 9/21/2031 (b)<br>| EUR | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466061 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 0.95%, 3.50%, 11/6/2030 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477188 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 1.18%, 3.88%, 5/14/2032 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360823 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. U.K. Government Bond + 1.25%, 5.25%, 10/16/2031 (b)<br>| GBP | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549768 |
| Motability Operations Group PLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 1/24/2034<br>| EUR | &nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559030 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.00%, 1/17/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120987 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.25%, 6/17/2035<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239346 |
| National Grid Electricity Distribution West Midlands PLC Series EMTN, 5.75%, 4/16/2032<br>| GBP | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490847 |
| National Grid PLC Series EMTN, 4.28%, 1/16/2035<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486021 |
| Nationwide Building Society: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.00%, 3/3/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469305 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 8/18/2032<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231345 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 6.13%, 8/21/2028<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421308 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. GBP SONIA Linked ICE Swap + 1.08%, 5.53%, 1/13/2033 (b)<br>| GBP | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554026 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.15%, 3.83%, 7/24/2032 (b)<br>| EUR | &nbsp;&nbsp;474000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567736 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.23%, 3.77%, 1/27/2036 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352648 |
| NatWest Group PLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. U.K. Government Bond + 2.10%, 3.62%, 3/29/2029 (b)<br>| GBP | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450361 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 0.89%, 0.67%, 9/14/2029 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;$332721 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.95%, 0.78%, 2/26/2030 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438274 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.16%, 3.63%, 9/3/2034 (a) (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350470 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.22%, 3.24%, 5/13/2030 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590404 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.52%, 3.99%, 5/13/2036 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596503 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.83%, 4.77%, 2/16/2029 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489342 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.91%, 4.07%, 9/6/2028 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480762 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. U.K. Government Bond + 0.93%, 4.76%, 11/10/2031 (b)<br>| GBP | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268684 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.22%, 3.58%, 9/12/2032 (b)<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118608 |
| NatWest Markets PLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.38%, 3/2/2027<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116087 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.75%, 11/4/2027<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707703 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.00%, 9/3/2030<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233293 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 1/10/2030<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471518 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 6.38%, 11/8/2027<br>| GBP | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139502 |
| Santander U.K. PLC Series EMTN, 3.35%, 3/25/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355271 |
| Standard Chartered PLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EUR Swap + 1.45%, 4.20%, 3/4/2032 (b)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243321 |
| &nbsp;&nbsp;&nbsp;&nbsp;1 yr. EUR Swap + 1.85%, 4.87%, 5/10/2031 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624610 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. EURIBOR ICE Swap + 1.30%, 3.86%, 3/17/2033 (b)<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416575 |
| SW Finance I PLC Series EMTN, 6.88%, 8/7/2032<br>| GBP | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279118 |
| THFC Funding No. 3 PLC Series EMTN, 5.20%, 10/11/2045<br>| GBP | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437775 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Unilever Finance Netherlands BV 1.75%, 3/25/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;$337083 |
| University of Oxford 2.54%, 12/8/2117<br>| GBP | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214365 |
| Vodafone Group PLC Series EMTN, 1.63%, 11/24/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110101 |
| Wellcome Trust Ltd. 2.52%, 2/7/2118<br>| GBP | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249776 |
| Yorkshire Water Finance PLC Series EMTN, 2.75%, 4/18/2041<br>| GBP | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174756 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39623986 |
| **UNITED STATES — 28.1%** | **UNITED STATES — 28.1%** | **UNITED STATES — 28.1%** |  |
| Alphabet, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 11/6/2028<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233775 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 5/6/2029<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817913 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 11/6/2031<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407144 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 5/6/2033<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346691 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 11/6/2034<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228965 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 5/6/2037<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455659 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/6/2038<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624383 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 5/6/2045<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449117 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/6/2044<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798660 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 5/6/2054<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435730 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 11/6/2064<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223727 |
| Altria Group, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 6/15/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467421 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 6/15/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579192 |
| American Express Co. 3 mo. EUR EURIBOR + 1.10%, 3.43%, 5/20/2032 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354212 |
| American Honda Finance Corp. 0.30%, 7/7/2028<br>| EUR | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165558 |
| American Medical Systems Europe BV 3.50%, 3/8/2032<br>| EUR | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450619 |
| Amgen, Inc. 4.00%, 9/13/2029<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398561 |
| Apple, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 11/15/2031<br>| EUR | &nbsp;&nbsp;504000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518031 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 5/24/2029<br>| EUR | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169505 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 9/17/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350461 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.05%, 7/31/2029<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391708 |
| AT&T, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 3/4/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321841 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 5/19/2028<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687919 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.35%, 9/5/2029<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230054 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.45%, 3/15/2035<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104886 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 6/1/2030<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411675 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 9/4/2036<br>| EUR | &nbsp;&nbsp;771000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840095 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.55%, 12/17/2032<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823837 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.60%, 6/1/2033<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410268 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.95%, 4/30/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606557 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 6/1/2043<br>| GBP | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589934 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;4.30%, 11/18/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;$425846 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 9/14/2029<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602524 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 6/1/2044<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346091 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 7.00%, 4/30/2040<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368806 |
| Bank of America Corp.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 6/12/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728212 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 7.00%, 7/31/2028<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430544 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. U.K. Government Bond + 1.10%, 1.67%, 6/2/2029 (b)<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506059 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.73%, 0.58%, 8/8/2029 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.76%, 0.58%, 8/24/2028 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.79%, 0.69%, 3/22/2031 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635917 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.94%, 0.65%, 10/26/2031 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311876 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 3.67%, 3.65%, 3/31/2029 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694526 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.76%, 2.98%, 10/30/2031 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462647 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.89%, 1.66%, 4/25/2028 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464501 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.90%, 3.26%, 1/28/2031 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530823 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.91%, 1.38%, 5/9/2030 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780174 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.95%, 1.10%, 5/24/2032 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575546 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.10%, 3.49%, 3/10/2034 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583161 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.20%, 2.82%, 4/27/2033 (b)<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451722 |
| Becton Dickinson & Co. 3.83%, 6/7/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359051 |
| Berkshire Hathaway Finance Corp.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 6/19/2039<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286525 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 6/19/2059<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146093 |
| Berkshire Hathaway, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.03%, 12/8/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631758 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 3/16/2027<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;$578659 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 3/16/2035<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598794 |
| BG Energy Capital PLC Series EMTN, 5.00%, 11/4/2036<br>| GBP | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594631 |
| Blackrock, Inc. 3.75%, 7/18/2035<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593697 |
| BMS Ireland Capital Funding DAC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.36%, 11/10/2033<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696375 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.86%, 11/10/2038<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693699 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.58%, 11/10/2055<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229203 |
| Booking Holdings, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 3/3/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349654 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 5/12/2033<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365216 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497576 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/15/2034<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756300 |
| BorgWarner, Inc. 1.00%, 5/19/2031<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619305 |
| BP Capital Markets PLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.23%, 5/8/2031<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318985 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.52%, 4/7/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468890 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.82%, 4/7/2032<br>| EUR | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284798 |
| Citigroup, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 4/10/2029<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669564 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 10/26/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113889 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.03%, 3.49%, 10/22/2034 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691146 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.05%, 3.75%, 5/14/2032 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596034 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.25%, 3.71%, 9/22/2028 (b)<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657903 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.58%, 4.11%, 4/29/2036 (b)<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835563 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.60%, 4.11%, 9/22/2033 (b)<br>| EUR | &nbsp;&nbsp;256000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310822 |
| Coca-Cola Co.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 3/15/2029<br>| EUR | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459718 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 3/9/2027<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347034 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 3/9/2035<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401280 |
| Comcast Corp.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 2/20/2032<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201114 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 2/20/2036<br>| GBP | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122858 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 9/26/2040<br>| GBP | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317314 |
| DH Europe Finance II SARL: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.45%, 3/18/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448631 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 9/18/2031<br>| EUR | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669627 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;1.35%, 9/18/2039<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;$344991 |
| Digital Intrepid Holding BV 0.63%, 7/15/2031<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398733 |
| Eli Lilly & Co. 1.70%, 11/1/2049<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522783 |
| Exxon Mobil Corp.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.52%, 6/26/2028<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391188 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.84%, 6/26/2032<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202322 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.41%, 6/26/2039<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380082 |
| FedEx Corp. 1.63%, 1/11/2027<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407306 |
| Fidelity National Information Services, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 5/21/2027<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578297 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 5/21/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111847 |
| Ford Motor Credit Co. LLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.62%, 7/27/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354831 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.45%, 2/14/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120102 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.87%, 8/3/2027<br>| EUR | &nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701214 |
| Goldman Sachs Group, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.25%, 1/26/2028<br>| EUR | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895037 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 3/23/2032<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301380 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.88%, 5/9/2029<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494921 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.88%, 1/21/2030<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541636 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.00%, 3/18/2033<br>| EUR | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373232 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 2/7/2029<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392084 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 12/7/2027<br>| GBP | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638992 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.00%, 11/1/2028<br>| EUR | &nbsp;&nbsp;377000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.00%, 2/12/2031<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117421 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.13%, 7/25/2029<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386640 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.00%, 9/21/2029<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243790 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1 yr. U.K. Government Bond + 1.95%, 3.63%, 10/29/2029 (b)<br>| GBP | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263197 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.15%, 3.50%, 1/23/2033 (b)<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822278 |
| Honeywell International, Inc. 4.13%, 11/2/2034<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602329 |
| International Business Machines Corp.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 2/11/2028<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672220 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.65%, 2/11/2032<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502072 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.88%, 2/9/2030<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;$108194 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 1/29/2027<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 2/9/2034<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493934 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 5/23/2029<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112942 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 1/31/2031<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495590 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 2/10/2033<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577540 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 2/6/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474108 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 2/6/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599503 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 2/6/2035<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236971 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 2/6/2043<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338866 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 2/6/2038<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378818 |
| Johnson & Johnson: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.65%, 5/20/2035<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713150 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.35%, 2/26/2037<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574082 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.55%, 6/1/2044<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110410 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.70%, 2/26/2055<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319853 |
| JPMorgan Chase & Co.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.88%, 5/24/2028<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236788 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.65%, 0.39%, 2/24/2028 (b)<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458558 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 0.65%, 0.60%, 2/17/2033 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498161 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.60%, 3.67%, 6/6/2028 (b)<br>| EUR | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775292 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.84%, 1.64%, 5/18/2028 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695861 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.85%, 1.00%, 7/25/2031 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534180 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.87%, 1.05%, 11/4/2032 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517138 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.95%, 1.81%, 6/12/2029 (b)<br>| EUR | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172266 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.98%, 3.76%, 3/21/2034 (b)<br>| EUR | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890791 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.05%, 3.59%, 1/23/2036 (b)<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521559 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.13%, 1.96%, 3/23/2030 (b)<br>| EUR | &nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1082893 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.28%, 4.46%, 11/13/2031 (b)<br>| EUR | &nbsp;&nbsp;674000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834910 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, Sterling Overnight Index Average + 1.13%, 1.90%, 4/28/2033 (b)<br>| GBP | &nbsp;&nbsp;210000 | &nbsp;&nbsp;$241255 |
| Kraft Heinz Foods Co. 2.25%, 5/25/2028<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231425 |
| McDonald's Corp. Series EMTN, 3.50%, 5/21/2032<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354174 |
| Medtronic Global Holdings SCA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.38%, 10/15/2028<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385921 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 7/2/2031<br>| EUR | &nbsp;&nbsp;333000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348943 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 3/7/2027<br>| EUR | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867497 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 10/15/2040<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287992 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 7/2/2039<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394163 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 3/7/2031<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546176 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 10/15/2050<br>| EUR | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101466 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 7/2/2049<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285062 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 3/7/2039<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291905 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/15/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473833 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 10/15/2031<br>| EUR | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293658 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 10/15/2034<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233046 |
| Microsoft Corp. 3.13%, 12/6/2028<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417685 |
| Morgan Stanley: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 1.88%, 4/27/2027<br>| EUR | &nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272696 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 2.63%, 3/9/2027<br>| GBP | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132202 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 0.72%, 0.50%, 2/7/2031 (b)<br>| EUR | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843196 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR - 0.87%, 0.50%, 10/26/2029 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549568 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3 mo. EUR EURIBOR + 0.83%, 1.10%, 4/29/2033 (b)<br>| EUR | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659999 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3 mo. EUR EURIBOR + 0.86%, 3.15%, 11/7/2031 (b)<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814766 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.04%, 3.79%, 3/21/2030 (b)<br>| EUR | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841107 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3 mo. EUR EURIBOR + 1.12%, 3.75%, 11/7/2036 (b)<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635482 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.24%, 3.96%, 3/21/2035 (b)<br>| EUR | &nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3 mo. EUR EURIBOR + 1.25%, 2.95%, 5/7/2032 (b)<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344866 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.30%, 4.66%, 3/2/2029 (b)<br>| EUR | &nbsp;&nbsp;869000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059799 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.32%, 3.52%, 5/22/2031 (b)<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;$712408 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.55%, 4.10%, 5/22/2036 (b)<br>| EUR | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298603 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. EUR EURIBOR + 1.76%, 4.81%, 10/25/2028 (b)<br>| EUR | &nbsp;&nbsp;252000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307105 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3 mo. EUR EURIBOR + 1.95%, 5.15%, 1/25/2034 (b)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641749 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sterling Overnight Index Average + 1.46%, 5.21%, 10/24/2035 (b)<br>| GBP | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536714 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sterling Overnight Index Average + 2.25%, 5.79%, 11/18/2033 (b)<br>| GBP | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848358 |
| Nestle Finance International Ltd.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.38%, 5/12/2032<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100289 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 4/1/2030<br>| EUR | &nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399606 |
| Netflix, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 5/15/2027 (a)<br>| EUR | &nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685080 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 6/15/2030<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240162 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 11/15/2029<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666691 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 5/15/2029<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495443 |
| Novartis Finance SA Zero Coupon, 9/23/2028<br>| EUR | &nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931487 |
| PepsiCo, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 5/6/2028 (a)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224042 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 10/14/2033<br>| EUR | &nbsp;&nbsp;461000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447552 |
| Pfizer Netherlands International Finance BV 3.25%, 5/19/2032<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117581 |
| Pfizer, Inc. 2.74%, 6/15/2043<br>| GBP | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452488 |
| Procter & Gamble Co. 4.88%, 5/11/2027<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242490 |
| Robert Bosch Finance LLC Series EMTN, 2.75%, 5/28/2028<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469532 |
| Sanofi SA: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 1/13/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461066 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 12FX, 1.38%, 3/21/2030<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556472 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 4/1/2030<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334776 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 20FX, 1.88%, 3/21/2038<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290513 |
| Schlumberger Finance BV 2.00%, 5/6/2032<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434908 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Schneider Electric SE Series EMTN, 3.62%, 9/2/2037<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;$232875 |
| Shell International Finance BV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.13%, 11/8/2027<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675989 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 11/8/2031<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101354 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 8/15/2028<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336285 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.88%, 11/8/2039<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310381 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 5/12/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113801 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 11/11/2032<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616254 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 4/7/2028<br>| EUR | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286887 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.63%, 1/20/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466361 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.88%, 4/7/2032<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108700 |
| Stellantis NV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 3/30/2027<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566914 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 1/18/2029 (a)<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548045 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 6/20/2033<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285498 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.75%, 4/1/2032<br>| EUR | &nbsp;&nbsp;382000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415930 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.25%, 6/16/2031<br>| EUR | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.38%, 3/14/2030 (a)<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242505 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 7/7/2028<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606477 |
| Thermo Fisher Scientific Finance I BV: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 10/18/2030<br>| EUR | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690358 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 10/18/2033<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449048 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 10/18/2041<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503296 |
| Thermo Fisher Scientific, Inc. Series EMTN, 1.88%, 10/1/2049<br>| EUR | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162269 |
| T-Mobile USA, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 2/11/2032<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580798 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 2/11/2037<br>| EUR | &nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432426 |
| Toyota Motor Credit Corp.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.13%, 11/5/2027<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448948 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 7/15/2031<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239833 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.05%, 9/13/2029<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731441 |
| Upjohn Finance BV 1.91%, 6/23/2032<br>| EUR | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669534 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Verizon Communications, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.38%, 3/22/2029<br>| EUR | &nbsp;&nbsp;384000 | &nbsp;&nbsp;$417317 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 3/22/2032<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502340 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 4/8/2030<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654516 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 5/18/2033<br>| EUR | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471898 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 11/2/2028<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113334 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 12/1/2031<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396760 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 20Y, 2.88%, 1/15/2038<br>| EUR | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572954 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 10/29/2032<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231674 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 10/27/2036<br>| GBP | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278691 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 6/28/2032<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412890 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.75%, 2/28/2036<br>| EUR | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174047 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 8/6/2037<br>| EUR | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456787 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 10/31/2030<br>| EUR | &nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584125 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/31/2034<br>| EUR | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284223 |
| Visa, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 6/15/2029<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574333 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 5/15/2028<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408154 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 5/15/2033<br>| EUR | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407866 |
| Walmart, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 9/21/2029<br>| EUR | &nbsp;&nbsp;351000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445260 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 9/28/2035<br>| GBP | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349327 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 3/27/2034<br>| GBP | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430777 |
| Wells Fargo & Co.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 3/25/2030<br>| EUR | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530629 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.63%, 8/14/2030<br>| EUR | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210238 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.00%, 2/2/2027<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520358 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 5/24/2027<br>| EUR | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694903 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/2/2035<br>| GBP | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194090 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR - 1.85%, 1.74%, 5/4/2030 (b)<br>| EUR | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 0.73%, 2.77%, 7/23/2029 (b)<br>| EUR | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526923 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.16%, 3.87%, 7/23/2036 (b)<br>| EUR | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117245 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3 mo. EUR EURIBOR + 1.22%, 3.90%, 7/22/2032 (b)<br>| EUR | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901780 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;111946995 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $382,564,528)<br>** | **TOTAL CORPORATE BONDS & NOTES<br>(Cost $382,564,528)<br>** | **TOTAL CORPORATE BONDS & NOTES<br>(Cost $382,564,528)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;391724911 |

---

&nbsp;&nbsp;&nbsp;&nbsp;

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 2.6%** | **SHORT-TERM INVESTMENTS — 2.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (d) (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57276 | &nbsp;&nbsp;$57276 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (f) (g) | 10281356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10281356 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $10,338,632)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $10,338,632)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;10338632 |
| **TOTAL INVESTMENTS — 100.8%<br>(Cost $392,903,160)<br>** | **TOTAL INVESTMENTS — 100.8%<br>(Cost $392,903,160)<br>** | &nbsp;&nbsp;&nbsp;402063543 |
| **LIABILITIES IN EXCESS OF OTHER<br>ASSETS — (0.8)% <br>** | **LIABILITIES IN EXCESS OF OTHER<br>ASSETS — (0.8)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3344129) |
| **NET ASSETS — 100.0% <br>** | **NET ASSETS — 100.0% <br>** | $398719414 |

---

(a) All or a portion of the shares of the security are on loan at December 31, 2025.

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

(c) Step-up bond - Coupon rate increases in increments to maturity. Rate shown as of December 31, 2025. Maturity date shown is the final maturity.

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

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

(f) The Fund invested in an affiliated entity. Amounts related to these investments during the year ended December 31, 2025 are shown in the Affiliate Table below.

(g) Investment of cash collateral for securities loaned.

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

---

| | |
|:---|:---|
| Abbreviations: |  |
| EMTN | Euro Medium Term Note |
| GMTN | Global Medium Term Note |
| MTN | Medium Term Note |
| SONIA | Sterling Overnight Index Average |
| AUD | Australian Dollar |
| EUR | Euro |
| GBP | British Pound |
| JPY | Japanese Yen |

---

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of December 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>| $— | $391724911 | $— | $391724911 |
| Short-Term Investments<br>| &nbsp;&nbsp;10338632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10338632 |
| **TOTAL INVESTMENTS<br>**  | $10338632 | $391724911 | $— | $402063543 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 12/31/24** | **Value at<br>12/31/24** | **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> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| &nbsp;&nbsp;&nbsp;&nbsp;15125 | $15125 | $111221764 | $111179613 | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;57276 | $57276 | $30897 |
| State Street Navigator Securities Lending Portfolio II<br>| 17057091 | &nbsp;&nbsp;17057091 | &nbsp;&nbsp;128480369 | &nbsp;&nbsp;135256104 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 10281356 | &nbsp;&nbsp;10281356 | &nbsp;&nbsp;51930 |
| Total<br>|  | $17072216 | $239702133 | $246435717 | $— | $— |  | $10338632 | $82827 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS — 99.0%** | **FOREIGN GOVERNMENT OBLIGATIONS — 99.0%** | **FOREIGN GOVERNMENT OBLIGATIONS — 99.0%** |  |
| **AUSTRALIA — 3.8%** | **AUSTRALIA — 3.8%** | **AUSTRALIA — 3.8%** |  |
| Australia Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 12/21/2030<br>| AUD | &nbsp;&nbsp;4587000 | &nbsp;&nbsp;$2611852 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 11/21/2031<br>| AUD | &nbsp;&nbsp;4662000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2564867 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 5/21/2032<br>| AUD | &nbsp;&nbsp;4671000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2565707 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 6/21/2031<br>| AUD | &nbsp;&nbsp;4722000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2715266 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 11/21/2032<br>| AUD | &nbsp;&nbsp;3498000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954683 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 6/21/2051<br>| AUD | &nbsp;&nbsp;2435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830238 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 5/21/2028<br>| AUD | &nbsp;&nbsp;3707000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369424 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 5/21/2030<br>| AUD | &nbsp;&nbsp;4503000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2794579 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 11/21/2027<br>| AUD | &nbsp;&nbsp;3565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2321547 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 11/21/2028<br>| AUD | &nbsp;&nbsp;4497000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2886428 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 11/21/2029<br>| AUD | &nbsp;&nbsp;4797000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3032601 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 6/21/2035<br>| AUD | &nbsp;&nbsp;2287000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296033 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 5/21/2041<br>| AUD | &nbsp;&nbsp;1695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859081 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/21/2033<br>| AUD | &nbsp;&nbsp;2962000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1768188 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 3/21/2047<br>| AUD | &nbsp;&nbsp;1635000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786237 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 4/21/2029<br>| AUD | &nbsp;&nbsp;4714000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3053782 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 6/21/2039<br>| AUD | &nbsp;&nbsp;1513000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843184 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 12/21/2034<br>| AUD | &nbsp;&nbsp;2018000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229232 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 5/21/2034<br>| AUD | &nbsp;&nbsp;2650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1658225 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 4/21/2037<br>| AUD | &nbsp;&nbsp;2264000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1369009 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 6/21/2034<br>| AUD | &nbsp;&nbsp;1874000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215323 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/21/2035<br>| AUD | &nbsp;&nbsp;3775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2418552 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 3/21/2036<br>| AUD | &nbsp;&nbsp;1984000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268230 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 4/21/2033<br>| AUD | &nbsp;&nbsp;2903000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931161 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 4/21/2027<br>| AUD | &nbsp;&nbsp;4388000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2953175 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 6/21/2054<br>| AUD | &nbsp;&nbsp;1279000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793513 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50090117 |
| **AUSTRIA — 2.6%** | **AUSTRIA — 2.6%** | **AUSTRIA — 2.6%** |  |
| Republic of Austria Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 10/20/2028<br>| EUR | &nbsp;&nbsp;1375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516676 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 2/20/2030<br>| EUR | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590642 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 2/20/2031<br>| EUR | &nbsp;&nbsp;1765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1812196 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 10/20/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;743000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521819 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 10/20/2036<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;861000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737793 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 4/20/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;822000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946664 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 2/20/2029<br>| EUR | &nbsp;&nbsp;1611000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787457 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 4/20/2071<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;807000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323890 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 2/20/2028<br>| EUR | &nbsp;&nbsp;1441000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643008 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 3/20/2051<br>| EUR | &nbsp;&nbsp;1071000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644556 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.85%, 6/30/2120<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228529 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 2/20/2032<br>| EUR | &nbsp;&nbsp;1480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1556016 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 2/20/2047<br>| EUR | &nbsp;&nbsp;1142000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908807 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 11/2/2086<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251471 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.85%, 5/23/2049<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;936000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778970 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 9/20/2117<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;501000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336520 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 5/23/2034<br>| EUR | &nbsp;&nbsp;1036000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1162270 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/20/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;893000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050292 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.90%, 5/23/2029<br>| EUR | &nbsp;&nbsp;1036000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1238228 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.90%, 2/20/2033<br>| EUR | &nbsp;&nbsp;2075000 | &nbsp;&nbsp;$2440933 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.90%, 2/20/2034<br>| EUR | &nbsp;&nbsp;1411000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644957 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 2/20/2035<br>| EUR | &nbsp;&nbsp;1208000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402117 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 6/20/2044<br>| EUR | &nbsp;&nbsp;1126000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1237419 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 10/20/2053<br>| EUR | &nbsp;&nbsp;1048000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1089039 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.20%, 7/15/2039<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;831000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952403 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 10/20/2030<br>| EUR | &nbsp;&nbsp;1095000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1335025 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 1/26/2062<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598887 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.15%, 3/15/2037<br>| EUR | &nbsp;&nbsp;2103000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2674765 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 7/15/2027<br>| EUR | &nbsp;&nbsp;1165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452994 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33864343 |
| **BELGIUM — 3.7%** | **BELGIUM — 3.7%** | **BELGIUM — 3.7%** |  |
| Kingdom of Belgium Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 10/22/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;787000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889344 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 10/22/2031<br>| EUR | &nbsp;&nbsp;1517000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515512 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 6/22/2030<br>| EUR | &nbsp;&nbsp;1809200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900768 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.35%, 6/22/2032<br>| EUR | &nbsp;&nbsp;1546000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542157 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.65%, 6/22/2071<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232286 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 6/22/2028<br>| EUR | &nbsp;&nbsp;1833000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077411 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 6/22/2029<br>| EUR | &nbsp;&nbsp;2203000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2454629 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 6/22/2031<br>| EUR | &nbsp;&nbsp;1961000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2094636 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 4/22/2033<br>| EUR | &nbsp;&nbsp;1398000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455366 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 6/22/2053<br>| EUR | &nbsp;&nbsp;1296000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820125 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.45%, 6/22/2037<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;889000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837468 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 6/22/2047<br>| EUR | &nbsp;&nbsp;1322000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001824 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 6/22/2050<br>| EUR | &nbsp;&nbsp;1088000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794627 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 6/22/2038<br>| EUR | &nbsp;&nbsp;1255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219746 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.15%, 6/22/2066<br>| EUR | &nbsp;&nbsp;1075000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732969 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/22/2057<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;978000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737272 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 10/22/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818056 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 10/22/2029<br>| EUR | &nbsp;&nbsp;1027000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213398 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 4/22/2039<br>| EUR | &nbsp;&nbsp;1024000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1083329 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.85%, 10/22/2034<br>| EUR | &nbsp;&nbsp;2022000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2299393 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 6/22/2033<br>| EUR | &nbsp;&nbsp;2259000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2641357 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 6/22/2034<br>| EUR | &nbsp;&nbsp;1275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476207 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.10%, 6/22/2035<br>| EUR | &nbsp;&nbsp;1252000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441232 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.30%, 6/22/2054<br>| EUR | &nbsp;&nbsp;1248000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228049 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 6/22/2042<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;557000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615689 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 6/22/2043<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;564000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619219 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 6/22/2055<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734902 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 6/22/2045<br>| EUR | &nbsp;&nbsp;1263000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1431770 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 3/28/2032<br>| EUR | &nbsp;&nbsp;1052000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314048 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 3/28/2041<br>| EUR | &nbsp;&nbsp;2152000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2646699 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 3/28/2035<br>| EUR | &nbsp;&nbsp;2884000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3843495 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 3/28/2028<br>| EUR | &nbsp;&nbsp;3287000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4130436 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47843419 |
| **CANADA — 4.6%** | **CANADA — 4.6%** | **CANADA — 4.6%** |  |
| Canada Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 12/1/2030<br>| CAD | &nbsp;&nbsp;2942000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1903248 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 6/1/2027<br>| CAD | &nbsp;&nbsp;1285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917972 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 3/1/2027<br>| CAD | &nbsp;&nbsp;1116000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802942 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 6/1/2030<br>| CAD | &nbsp;&nbsp;3580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2430639 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 6/1/2031<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900000 | &nbsp;&nbsp;$2625825 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 12/1/2031<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2947000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1964273 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 12/1/2053<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327440 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 6/1/2028<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634543 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 6/1/2032<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439604 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/1/2051<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2311417 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 2/1/2028<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760152 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/1/2029<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751905 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 12/1/2029<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385357 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 8/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2004736 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418849 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 12/1/2032<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1728000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206518 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 5/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848210 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 9/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112031 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 3/1/2030<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3252000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2358000 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 9/1/2030<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2348678 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 6/1/2033<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219199 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 12/1/2048<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1096000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671297 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 12/1/2055<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2547000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495832 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 12/1/2064<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381575 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 2/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607251 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 3/1/2032<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416827 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 6/1/2034<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900058 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 8/24/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55316 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 9/1/2028<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394261 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 12/1/2033<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1231077 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 12/1/2034<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3066000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2219777 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 6/1/2035<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2633618 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 12/1/2035<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150202 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 3/1/2028<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928306 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 9/1/2029<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3865000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2884109 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 3/1/2034<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1393000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031364 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 12/1/2045<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1901000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1340040 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 12/1/2057<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921624 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 3/1/2029<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1720934 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 6/1/2041<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1697000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288915 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 6/1/2037<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878581 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 6/1/2029<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936189 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 6/1/2033<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1497000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271284 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 6/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370438 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59500413 |
| **CHILE — 0.4%** | **CHILE — 0.4%** | **CHILE — 0.4%** |  |
| Bonos de la Tesoreria de la Republica en pesos: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 5/6/2027<br>| CLP | &nbsp;&nbsp;290000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304057 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 4/1/2029<br>| CLP | &nbsp;&nbsp;605000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580990 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.70%, 9/1/2030<br>| CLP | &nbsp;&nbsp;490000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533460 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/1/2028<br>| CLP | &nbsp;&nbsp;115000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128491 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 3/1/2035<br>| CLP | &nbsp;&nbsp;365000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394878 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.10%, 7/15/2050<br>| CLP | &nbsp;&nbsp;350000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361713 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.30%, 11/1/2037<br>| CLP | &nbsp;&nbsp;270000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298205 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.80%, 10/1/2029<br>| CLP | &nbsp;&nbsp;375000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426545 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.80%, 10/1/2034<br>| CLP | &nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285733 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 4/1/2033<br>| CLP | &nbsp;&nbsp;815000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939097 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 1/1/2043<br>| CLP | &nbsp;&nbsp;330000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386130 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;6.10%, 4/1/2056<br>| CLP | &nbsp;&nbsp;145000000 | &nbsp;&nbsp;$172822 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.20%, 10/1/2040<br>| CLP | &nbsp;&nbsp;235000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280511 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 5/1/2034<br>| CLP | &nbsp;&nbsp;275000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338403 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5431035 |
| **CHINA — 4.6%** | **CHINA — 4.6%** | **CHINA — 4.6%** |  |
| China Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 6/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045490 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.42%, 11/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;10750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540839 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.43%, 1/25/2030<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;11250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1601072 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.44%, 9/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322342 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.45%, 2/25/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968455 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.46%, 5/25/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270531 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.49%, 12/25/2031<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656937 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.55%, 7/25/2030<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786045 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.59%, 3/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055285 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.61%, 2/15/2035<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001151 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.62%, 8/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006365 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 10/25/2030<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815544 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.65%, 5/15/2035<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421268 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.67%, 5/25/2035<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493684 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.74%, 10/15/2029<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721581 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.79%, 3/25/2032<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1222543 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.83%, 8/25/2035<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535012 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.85%, 5/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871778 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.87%, 9/15/2031<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5070000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731941 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.91%, 7/15/2029<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935734 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.92%, 1/15/2055<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474096 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.04%, 2/25/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099181 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.04%, 11/25/2034<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;16700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2425692 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.05%, 4/15/2029<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1187483 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.11%, 8/25/2034<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022678 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.12%, 6/25/2031<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104948 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.27%, 5/25/2034<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872406 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.28%, 3/25/2031<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738022 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.35%, 2/25/2034<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847572 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.37%, 1/20/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549684 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.37%, 1/15/2029<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978379 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 7/15/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660498 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.44%, 10/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881549 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.48%, 4/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544381 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.48%, 9/25/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847522 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/25/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654353 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.52%, 8/25/2033<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752362 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.55%, 10/15/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719469 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 9/15/2030<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643842 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 9/1/2032<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130594 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.62%, 4/15/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654828 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.62%, 6/25/2030<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597815 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.64%, 1/15/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807696 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.65%, 3/25/2074<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226897 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.67%, 5/25/2033<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820102 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.67%, 11/25/2033<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456798 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.69%, 8/15/2032<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605270 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 6/15/2029<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380469 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 2/17/2032<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;5650000 | &nbsp;&nbsp;$856784 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.76%, 5/15/2032<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;2650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402998 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.79%, 12/15/2029<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300119 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 3/24/2029<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596583 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 3/25/2030<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541516 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 11/15/2032<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;7750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1185492 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.85%, 6/4/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;6700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979918 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 2/25/2033<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;3850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593697 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.89%, 11/18/2031<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;6400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979641 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/15/2053<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726735 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.12%, 10/25/2052<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574902 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.19%, 4/15/2053<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915748 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/22/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;6470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977281 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.27%, 11/19/2030<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;8350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1298431 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.27%, 3/25/2073<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;3750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658924 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.32%, 4/15/2052<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1523846 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.39%, 3/16/2050<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;3550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602422 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 7/15/2072<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180795 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.76%, 3/22/2071<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486862 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.81%, 9/14/2050<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453350 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.86%, 7/22/2049<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453162 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.08%, 10/22/2048<br>| CNY | &nbsp;&nbsp;19330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3599604 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 8/11/2034<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89805 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59666798 |
| **CROATIA — 0.3%** | **CROATIA — 0.3%** | **CROATIA — 0.3%** |  |
| Croatia Government International Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 6/19/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214071 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 6/17/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545958 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 4/22/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991999 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 3/20/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444426 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 2/11/2037<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1111081 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 3/12/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359170 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3666705 |
| **CYPRUS — 0.1%** | **CYPRUS — 0.1%** | **CYPRUS — 0.1%** |  |
| Cyprus Government International Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.63%, 1/21/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216701 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.95%, 1/20/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157895 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.25%, 1/21/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88030 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 4/16/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174494 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.38%, 9/25/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59018 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.75%, 2/26/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114549 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.75%, 5/3/2049<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389156 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1199843 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CZECH REPUBLIC — 1.0%** | **CZECH REPUBLIC — 1.0%** | **CZECH REPUBLIC — 1.0%** |  |
| Czech Republic Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.05%, 11/29/2029<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;8610000 | &nbsp;&nbsp;$360416 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 2/10/2027<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;4360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204608 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.95%, 5/15/2030<br>| CZK | &nbsp;&nbsp;15790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675129 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.20%, 3/13/2031<br>| CZK | &nbsp;&nbsp;15410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648246 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 4/24/2040<br>| CZK | &nbsp;&nbsp;12600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401908 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 6/23/2032<br>| CZK | &nbsp;&nbsp;15700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655643 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.95%, 7/30/2037<br>| CZK | &nbsp;&nbsp;11500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422976 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 10/13/2033<br>| CZK | &nbsp;&nbsp;16580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677086 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 8/25/2028<br>| CZK | &nbsp;&nbsp;15890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749332 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 7/23/2029<br>| CZK | &nbsp;&nbsp;15390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719581 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 3/3/2033<br>| CZK | &nbsp;&nbsp;15720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700007 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 5/30/2035<br>| CZK | &nbsp;&nbsp;18480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828305 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.60%, 6/3/2036<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266790 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.20%, 12/4/2036<br>| CZK | &nbsp;&nbsp;11350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531593 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 10/24/2034<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;5250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249905 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/11/2032<br>| CZK | &nbsp;&nbsp;15900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779567 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 11/26/2057<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80139 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.90%, 4/14/2034<br>| CZK | &nbsp;&nbsp;11600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579449 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 9/30/2030<br>| CZK | &nbsp;&nbsp;21720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098582 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.30%, 9/19/2035<br>| CZK | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102422 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/12/2028<br>| CZK | &nbsp;&nbsp;13400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682039 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 3/29/2029<br>| CZK | &nbsp;&nbsp;11200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575492 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.20%, 6/16/2031<br>| CZK | &nbsp;&nbsp;11560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616885 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12606100 |
| **DENMARK — 0.6%** | **DENMARK — 0.6%** | **DENMARK — 0.6%** |  |
| Denmark Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 11/15/2031<br>| DKK | &nbsp;&nbsp;&nbsp;&nbsp;7112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976434 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 11/15/2052<br>| DKK | &nbsp;&nbsp;&nbsp;&nbsp;7617000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581781 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 11/15/2027<br>| DKK | &nbsp;&nbsp;&nbsp;&nbsp;2850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437349 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 11/15/2029<br>| DKK | &nbsp;&nbsp;&nbsp;&nbsp;5290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781589 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 11/15/2033<br>| DKK | &nbsp;&nbsp;&nbsp;&nbsp;9738000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495691 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 11/15/2035<br>| DKK | &nbsp;&nbsp;&nbsp;&nbsp;2475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372406 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2039<br>| DKK | &nbsp;&nbsp;13951000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580654 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7225904 |
| **ESTONIA — 0.0% <sup>\*</sup>** | **ESTONIA — 0.0% <sup>\*</sup>** | **ESTONIA — 0.0% <sup>\*</sup>** |  |
| Estonia Government International Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 6/10/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.25%, 1/17/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145407 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/12/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215365 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555868 |
| **FINLAND — 1.3%** | **FINLAND — 1.3%** | **FINLAND — 1.3%** |  |
| Finland Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 9/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711575 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 9/15/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806673 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 4/15/2036<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564827 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 4/15/2052<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407079 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 9/15/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437042 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 9/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;684000 | &nbsp;&nbsp;$781401 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 9/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;768000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860108 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 9/15/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;834000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912761 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 4/15/2043<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;558000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391796 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 4/15/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;622000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661249 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 4/15/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;597000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604170 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 4/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218893 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 4/15/2047<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618445 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 9/15/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;772000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832497 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 4/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;669000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784651 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 4/15/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610062 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 7/4/2042<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707606 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 7/4/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;547000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650909 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 4/15/2038<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;604000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661831 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 4/15/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;691000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823778 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 4/15/2055<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;582000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572164 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 9/15/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;935000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100532 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 9/15/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;945000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1103985 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 9/15/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;669000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775022 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16599056 |
| **FRANCE — 4.9%** | **FRANCE — 4.9%** | **FRANCE — 4.9%** |  |
| French Republic Government Bonds OAT: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 2/25/2027<br>| EUR | &nbsp;&nbsp;1213000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390234 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 11/25/2029<br>| EUR | &nbsp;&nbsp;1480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571199 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 11/25/2030<br>| EUR | &nbsp;&nbsp;1776000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1821826 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 11/25/2031<br>| EUR | &nbsp;&nbsp;1770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1749458 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 5/25/2032<br>| EUR | &nbsp;&nbsp;1393000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1349888 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 5/25/2029<br>| EUR | &nbsp;&nbsp;1687000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1851048 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 5/25/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;904000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662957 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 6/25/2044<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;586000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369018 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 5/25/2072<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46538 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 2/25/2028<br>| EUR | &nbsp;&nbsp;1492000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695392 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 5/25/2028<br>| EUR | &nbsp;&nbsp;1951000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2206440 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 11/25/2028<br>| EUR | &nbsp;&nbsp;1836000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2055150 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 5/25/2052<br>| EUR | &nbsp;&nbsp;1022000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524886 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 5/25/2053<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;534000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265438 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 5/25/2027<br>| EUR | &nbsp;&nbsp;1297000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1498488 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 5/25/2034<br>| EUR | &nbsp;&nbsp;1859000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1849241 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 5/25/2036<br>| EUR | &nbsp;&nbsp;1734000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1622783 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 5/25/2038<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;974000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856460 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 5/25/2031<br>| EUR | &nbsp;&nbsp;1809000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1979661 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 5/25/2050<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179486 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 6/25/2039<br>| EUR | &nbsp;&nbsp;1014000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929592 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 5/25/2066<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;714000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409557 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 11/25/2032<br>| EUR | &nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202063 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 5/25/2048<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;576000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456593 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 9/24/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;876000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028185 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/24/2027<br>| EUR | &nbsp;&nbsp;1284000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1514705 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 5/25/2030<br>| EUR | &nbsp;&nbsp;2093000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2437703 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 5/25/2043<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664557 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 2/25/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991215 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 10/25/2027<br>| EUR | &nbsp;&nbsp;1874000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2220143 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 2/25/2029<br>| EUR | &nbsp;&nbsp;1668000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1973561 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 2/25/2030<br>| EUR | &nbsp;&nbsp;1678000 | &nbsp;&nbsp;$1975925 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 5/25/2033<br>| EUR | &nbsp;&nbsp;1360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1575022 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/25/2034<br>| EUR | &nbsp;&nbsp;1325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506086 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 6/25/2049<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;498000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474454 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 5/25/2054<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;782000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707314 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.20%, 5/25/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545054 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 5/25/2045<br>| EUR | &nbsp;&nbsp;1377000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1424106 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 5/25/2055<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;764000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722411 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/25/2033<br>| EUR | &nbsp;&nbsp;1583000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886262 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/25/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701217 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.60%, 5/25/2042<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543719 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 5/25/2056<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465260 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/25/2038<br>| EUR | &nbsp;&nbsp;1192000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1427280 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/25/2055<br>| EUR | &nbsp;&nbsp;1080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179774 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/25/2060<br>| EUR | &nbsp;&nbsp;1058000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133881 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 4/25/2041<br>| EUR | &nbsp;&nbsp;1851000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2303749 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 4/25/2035<br>| EUR | &nbsp;&nbsp;1369000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769891 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 4/25/2029<br>| EUR | &nbsp;&nbsp;1606000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2062147 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 10/25/2032<br>| EUR | &nbsp;&nbsp;1309000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1785654 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63562671 |
| **GERMANY — 4.5%** | **GERMANY — 4.5%** | **GERMANY — 4.5%** |  |
| Bundesobligation: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 4/16/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949908 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 10/15/2027<br>| EUR | &nbsp;&nbsp;1208000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1399807 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 4/12/2029<br>| EUR | &nbsp;&nbsp;1519000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1774268 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 4/13/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764459 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 10/10/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754863 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 10/19/2028<br>| EUR | &nbsp;&nbsp;1041000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228946 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 4/18/2030<br>| EUR | &nbsp;&nbsp;1091000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281570 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/11/2029<br>| EUR | &nbsp;&nbsp;1039000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1227585 |
| Bundesrepublik Deutschland Bundesanleihe: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 11/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;371000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419308 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 11/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;542000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598365 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 8/15/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;429000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464199 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 2/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;484000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516493 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 8/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;892000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939484 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 2/15/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617461 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 8/15/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;995000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017933 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 2/15/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261723 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 5/15/2036<br>| EUR | &nbsp;&nbsp;1237000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074342 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 8/15/2050<br>| EUR | &nbsp;&nbsp;2114000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1068163 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 8/15/2052<br>| EUR | &nbsp;&nbsp;1392000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656334 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 2/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;422000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486068 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 8/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;713000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797222 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 2/15/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132629 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 8/15/2027<br>| EUR | &nbsp;&nbsp;1086000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243778 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 2/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;787000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893972 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 5/15/2038<br>| EUR | &nbsp;&nbsp;1344000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242364 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 8/15/2048<br>| EUR | &nbsp;&nbsp;1456000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1129782 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 8/15/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833653 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 8/15/2053<br>| EUR | &nbsp;&nbsp;1694000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405203 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 11/15/2029<br>| EUR | &nbsp;&nbsp;1068000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243438 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 2/15/2034<br>| EUR | &nbsp;&nbsp;1317000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485310 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.30%, 2/15/2033<br>| EUR | &nbsp;&nbsp;2397000 | &nbsp;&nbsp;$2752706 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 11/15/2030<br>| EUR | &nbsp;&nbsp;1643000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925125 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 2/15/2035<br>| EUR | &nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1487945 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/4/2044<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;844000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878498 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 8/15/2046<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;789000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806823 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 8/15/2054<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629250 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 8/15/2033<br>| EUR | &nbsp;&nbsp;1693000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974339 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 8/15/2034<br>| EUR | &nbsp;&nbsp;1261000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1459828 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 8/15/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488554 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.90%, 8/15/2056<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733208 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 7/4/2042<br>| EUR | &nbsp;&nbsp;1123000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315555 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 1/4/2037<br>| EUR | &nbsp;&nbsp;1270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635248 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 7/4/2039<br>| EUR | &nbsp;&nbsp;1155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1524343 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 7/4/2028<br>| EUR | &nbsp;&nbsp;1284000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1602666 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 7/4/2034<br>| EUR | &nbsp;&nbsp;1080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1459562 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 7/4/2040<br>| EUR | &nbsp;&nbsp;1085000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506198 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 1/4/2031<br>| EUR | &nbsp;&nbsp;1263000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1693222 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 1/4/2028<br>| EUR | &nbsp;&nbsp;1349000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1692702 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 1/4/2030<br>| EUR | &nbsp;&nbsp;1179000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1589344 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 7/4/2027<br>| EUR | &nbsp;&nbsp;1157000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1447069 |
| Bundesschatzanweisungen: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 6/10/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051423 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 9/16/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643755 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 3/11/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782462 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58988455 |
| **GREECE — 0.8%** | **GREECE — 0.8%** | **GREECE — 0.8%** |  |
| Hellenic Republic Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 6/18/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604861 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 6/18/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783709 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 6/18/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571867 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 1/24/2052<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264595 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 6/15/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826687 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 6/15/2035<br>| EUR | &nbsp;&nbsp;1075000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281613 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 6/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761031 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 3/12/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551552 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 6/15/2054<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859522 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 6/15/2033<br>| EUR | &nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571620 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 7/18/2038<br>| EUR | &nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2198521 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10275578 |
| **HONG KONG — 0.1%** | **HONG KONG — 0.1%** | **HONG KONG — 0.1%** |  |
| Hong Kong Government Bonds Programme: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 6/29/2027<br>| HKD | &nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227566 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.59%, 3/4/2036<br>| HKD | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22160 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.89%, 3/2/2032<br>| HKD | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97634 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.97%, 1/17/2029<br>| HKD | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76043 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.02%, 3/7/2034<br>| HKD | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36014 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 7/16/2030<br>| HKD | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63035 |
| Hong Kong Government Infrastructure Bonds Programme: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.76%, 4/25/2028<br>| HKD | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64520 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.89%, 10/25/2027<br>| HKD | &nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122805 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;3.23%, 12/5/2029<br>| HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;$131332 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.84%, 1/16/2035<br>| HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231449 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072558 |
| **HUNGARY — 0.4%** | **HUNGARY — 0.4%** | **HUNGARY — 0.4%** |  |
| Hungary Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 5/23/2029 (a)<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359875 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 4/20/2033<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281887 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/22/2034<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159770 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/27/2027<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183299 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 8/21/2030<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486088 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/27/2038<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209316 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 4/25/2041<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253287 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 10/22/2031<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545725 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 3/23/2028<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407213 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 5/27/2032<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193966 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/24/2032<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503795 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 11/28/2029<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245368 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 10/22/2028<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908982 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 7/23/2031<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201654 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 10/24/2035<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517493 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5457718 |
| **INDONESIA — 2.4%** | **INDONESIA — 2.4%** | **INDONESIA — 2.4%** |  |
| Indonesia Treasury Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.88%, 3/15/2031<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;7019000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427045 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.13%, 5/15/2028<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;13589000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828354 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 6/15/2036<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;7270000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438387 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 8/15/2028<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;16828000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033483 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 4/15/2032<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;26352000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1611183 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 7/15/2037<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;2105000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127249 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 7/15/2030<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;21449000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1336604 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 2/15/2031<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;24990000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540656 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 4/15/2036<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;3550000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218965 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 5/15/2033<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;18475000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139545 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 2/15/2034<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;28598000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1770793 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 7/15/2035<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;39123000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2463775 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 4/15/2029<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;22462000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403543 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 8/15/2051<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;8315000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505641 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 7/15/2054<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;10130000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619660 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 5/15/2027<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;18350000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125537 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 9/15/2030<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;18400000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161328 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 2/15/2033<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;36205000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2281992 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 6/15/2038<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;19658000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254361 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 8/15/2040<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;17500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124985 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 6/15/2042<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;18230000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157227 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 6/15/2043<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;13000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824840 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 8/15/2045<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;17000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092251 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.38%, 10/15/2030<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;20000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1277313 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.38%, 5/15/2048<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;10875000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697631 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 5/15/2038<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;15342000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005182 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 4/15/2040<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;12980000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;849650 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.00%, 3/15/2029<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;2000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132446 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Perusahaan Penerbit SBSN Indonesia: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.88%, 7/15/2028<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;10000000000 | &nbsp;&nbsp;$608936 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 3/15/2034<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;6900000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418815 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 6/15/2039<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;2814000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171832 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 6/15/2047<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;4500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272343 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 3/15/2036<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;10000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631495 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 12/15/2049<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;5500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336221 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31889268 |
| **IRELAND — 1.0%** | **IRELAND — 1.0%** | **IRELAND — 1.0%** |  |
| Ireland Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 10/18/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984991 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 5/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171904 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 10/18/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981277 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.35%, 10/18/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538014 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 5/15/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513078 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.55%, 4/22/2041<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429294 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 5/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1064128 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.10%, 5/15/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1244956 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 5/15/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645077 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.35%, 3/18/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969518 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 5/15/2050<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582263 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 5/15/2037<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865021 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 2/18/2045<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1148000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062841 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 5/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255487 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 10/18/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1143246 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/18/2043<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861471 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 10/18/2055<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382912 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13695478 |
| **ISRAEL — 1.0%** | **ISRAEL — 1.0%** | **ISRAEL — 1.0%** |  |
| Israel Government Bonds - Fixed: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 3/31/2030<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3449000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966794 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 4/30/2032<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061176 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 5/31/2037<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3878000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935976 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/31/2027<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789452 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 9/28/2028<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3919000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1181267 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 11/29/2052<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3337000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777365 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 9/30/2027<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3915000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228328 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 2/28/2029<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3681000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155575 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 3/31/2047<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944068 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 3/30/2035<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5113000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1614407 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.60%, 8/31/2029<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017185 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 1/31/2042<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3148000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139237 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12810830 |
| **ITALY — 4.6%** | **ITALY — 4.6%** | **ITALY — 4.6%** |  |
| Italy Buoni Poliennali Del Tesoro: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 4/1/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911633 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.95%, 8/1/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779618 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.95%, 12/1/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367033 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.95%, 6/1/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655771 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.35%, 4/1/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713998 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;1.45%, 3/1/2036<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;368000 | &nbsp;&nbsp;$356693 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 4/30/2045<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;427000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330173 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.65%, 12/1/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;667000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743182 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.65%, 3/1/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;863000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938568 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 9/1/2051<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;367000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260757 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 3/1/2041<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378799 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 2/1/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;513000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599657 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.05%, 8/1/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;618000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724850 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 8/26/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527667 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.15%, 9/1/2052<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215555 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.15%, 3/1/2072<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158270 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 6/1/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688201 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 9/1/2036<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;538000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559946 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.35%, 1/15/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350962 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.45%, 9/1/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;651000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726859 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.45%, 9/1/2050<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;444000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380715 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.55%, 2/25/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533257 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.65%, 12/1/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;603000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713633 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.65%, 6/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413734 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 10/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532746 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 3/1/2047<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;137000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128628 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 12/1/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873114 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 6/15/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;557000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660164 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 3/1/2067<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183284 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.85%, 2/1/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470506 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 2/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;418000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495268 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 7/1/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;789000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935560 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 9/1/2038<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;564000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611324 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 8/1/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;984000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1174323 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/1/2029<br>| EUR | &nbsp;&nbsp;1146000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364669 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.10%, 3/1/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;458000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495351 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 11/15/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;771000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915187 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/15/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769576 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 3/1/2038<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;484000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544257 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 9/1/2046<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;431000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445063 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.35%, 7/1/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;799000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962972 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.35%, 3/1/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;679000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796137 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 4/1/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;469000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563822 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 7/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568408 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 7/15/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;846000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021937 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 3/1/2048<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;591000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622820 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 3/1/2030<br>| EUR | &nbsp;&nbsp;1146000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1391319 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 2/15/2031<br>| EUR | &nbsp;&nbsp;1165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1411745 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.65%, 8/1/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918599 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.70%, 6/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;631000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771388 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 8/1/2028<br>| EUR | &nbsp;&nbsp;1134000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1379054 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.85%, 7/1/2034<br>| EUR | &nbsp;&nbsp;1209000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473705 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.85%, 2/1/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912642 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.85%, 10/1/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642653 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.85%, 9/1/2049<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;583000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651497 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;564000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698788 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/30/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;644000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800895 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/30/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;418000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515717 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 2/1/2037<br>| EUR | &nbsp;&nbsp;1219000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1488181 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.10%, 2/1/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;859000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057167 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;4.15%, 10/1/2039<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | &nbsp;&nbsp;$1014573 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.20%, 3/1/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882546 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.30%, 10/1/2054<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644609 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.35%, 11/1/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431361 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.45%, 9/1/2043<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845136 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 10/1/2053<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747612 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 9/1/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698969 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 9/1/2044<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001834 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 8/1/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197953 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 8/1/2039<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204347 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 9/1/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483906 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 11/1/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757220 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 2/1/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043221 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 5/1/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510481 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 11/1/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537245 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59279010 |
| **JAPAN — 22.9%** | **JAPAN — 22.9%** | **JAPAN — 22.9%** |  |
| Japan Government Five Year Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 3/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;292750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1846597 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 6/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;390000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2451144 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;153950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972229 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 9/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;358250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2247048 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;303100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889045 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 6/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;163450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015237 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 12/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;288000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804288 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 3/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;137100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856345 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 6/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;120500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750299 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 12/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;154900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957426 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 12/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;184050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155296 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 6/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;128500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802062 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 9/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;121800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757865 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 12/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;300000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859778 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 9/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;309350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1930287 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 12/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554308 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 3/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929235 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 6/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;157250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970597 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 3/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;172400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071433 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 6/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;554000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3431485 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 3/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;164100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023190 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 6/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;158500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985128 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 9/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1238700 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 9/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;304000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889709 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 12/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;325000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030034 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 12/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;175000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097673 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 3/20/2030<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;569000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3559676 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 6/20/2030<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;406000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2533365 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.10%, 12/20/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;300000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1888634 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.10%, 6/20/2030<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;325000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2037022 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 9/20/2030<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;315500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990763 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 9/20/2030<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;300000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1901458 |
| Japan Government Forty Year Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 3/20/2056<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;149200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426702 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 3/20/2059<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;106350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297857 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 3/20/2060<br>| JPY | &nbsp;&nbsp;145700000 | &nbsp;&nbsp;$401345 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 3/20/2061<br>| JPY | &nbsp;&nbsp;131700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386282 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 3/20/2058<br>| JPY | &nbsp;&nbsp;143900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465718 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 3/20/2057<br>| JPY | &nbsp;&nbsp;111100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379375 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 3/20/2062<br>| JPY | &nbsp;&nbsp;173300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560095 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 3/20/2063<br>| JPY | &nbsp;&nbsp;158100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556621 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 3/20/2055<br>| JPY | &nbsp;&nbsp;123350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501584 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 3/20/2054<br>| JPY | &nbsp;&nbsp;108850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484365 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 3/20/2053<br>| JPY | &nbsp;&nbsp;258350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215545 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/20/2052<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;62100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301802 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 3/20/2049<br>| JPY | &nbsp;&nbsp;112450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604645 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 3/20/2050<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;75000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395946 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 3/20/2051<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;82950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428306 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 3/20/2064<br>| JPY | &nbsp;&nbsp;225500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046267 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 3/20/2048<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;77200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438426 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.10%, 3/20/2065<br>| JPY | &nbsp;&nbsp;225000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315894 |
| Japan Government Ten Year Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/20/2027<br>| JPY | &nbsp;&nbsp;311050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1964311 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 6/20/2027<br>| JPY | &nbsp;&nbsp;266750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1678800 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 9/20/2027<br>| JPY | &nbsp;&nbsp;449600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2820021 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 12/20/2027<br>| JPY | &nbsp;&nbsp;388900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2431627 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/20/2028<br>| JPY | &nbsp;&nbsp;480750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2996050 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 6/20/2028<br>| JPY | &nbsp;&nbsp;471850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2930952 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 9/20/2028<br>| JPY | &nbsp;&nbsp;418000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2586883 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 12/20/2028<br>| JPY | &nbsp;&nbsp;449350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2768887 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/20/2029<br>| JPY | &nbsp;&nbsp;359050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2202908 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 6/20/2029<br>| JPY | &nbsp;&nbsp;379200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2316544 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 9/20/2029<br>| JPY | &nbsp;&nbsp;405950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2467866 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 12/20/2029<br>| JPY | &nbsp;&nbsp;441200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2669774 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/20/2030<br>| JPY | &nbsp;&nbsp;421500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2538708 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 6/20/2030<br>| JPY | &nbsp;&nbsp;495200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2968578 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 9/20/2030<br>| JPY | &nbsp;&nbsp;462050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2756736 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 12/20/2030<br>| JPY | &nbsp;&nbsp;460400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2734614 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/20/2031<br>| JPY | &nbsp;&nbsp;501100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2962259 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 6/20/2031<br>| JPY | &nbsp;&nbsp;425500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2502916 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 9/20/2031<br>| JPY | &nbsp;&nbsp;422100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2469640 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 12/20/2031<br>| JPY | &nbsp;&nbsp;435000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2531628 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 3/20/2032<br>| JPY | &nbsp;&nbsp;495250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2884801 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 6/20/2032<br>| JPY | &nbsp;&nbsp;439150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2544041 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 9/20/2032<br>| JPY | &nbsp;&nbsp;586900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3381551 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 6/20/2033<br>| JPY | &nbsp;&nbsp;551550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3172525 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 12/20/2032<br>| JPY | &nbsp;&nbsp;523000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3062859 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 3/20/2033<br>| JPY | &nbsp;&nbsp;556800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3243361 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 12/20/2033<br>| JPY | &nbsp;&nbsp;478250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2765639 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 12/20/2033<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;92100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536753 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 9/20/2033<br>| JPY | &nbsp;&nbsp;436650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2577557 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 3/20/2034<br>| JPY | &nbsp;&nbsp;488100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2855764 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 9/20/2034<br>| JPY | &nbsp;&nbsp;490000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2865193 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 3/20/2034<br>| JPY | &nbsp;&nbsp;105000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624105 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.10%, 6/20/2034<br>| JPY | &nbsp;&nbsp;548950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3278711 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.20%, 12/20/2034<br>| JPY | &nbsp;&nbsp;587000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3509005 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 3/20/2035<br>| JPY | &nbsp;&nbsp;650000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3939188 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 6/20/2035<br>| JPY | &nbsp;&nbsp;649000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3956397 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 9/20/2035<br>| JPY | &nbsp;&nbsp;165700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016270 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 9/20/2035<br>| JPY | &nbsp;&nbsp;613500000 | &nbsp;&nbsp;$3797011 |
| Japan Government Thirty Year Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 6/20/2046<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;82750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312977 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 6/20/2049<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;75000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259960 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 9/20/2049<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;45600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156529 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 12/20/2049<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;74150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251934 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 3/20/2050<br>| JPY | &nbsp;&nbsp;103800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348984 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 9/20/2046<br>| JPY | &nbsp;&nbsp;118750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468007 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 3/20/2049<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;66600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239929 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 12/20/2046<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;80250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321527 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 6/20/2050<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;61650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218034 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 9/20/2050<br>| JPY | &nbsp;&nbsp;146750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513515 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 6/20/2048<br>| JPY | &nbsp;&nbsp;132000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516092 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 12/20/2048<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;77500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297911 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 12/20/2050<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;88550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316175 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 3/20/2051<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;76550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270383 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 6/20/2051<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;90500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316469 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 9/20/2051<br>| JPY | &nbsp;&nbsp;137300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477337 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 12/20/2051<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;96150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331656 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 3/20/2046<br>| JPY | &nbsp;&nbsp;158650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682394 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 3/20/2047<br>| JPY | &nbsp;&nbsp;180750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753731 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 6/20/2047<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;71500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295880 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 9/20/2047<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;89650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368163 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 12/20/2047<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;88950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362723 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 3/20/2048<br>| JPY | &nbsp;&nbsp;191550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774840 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 9/20/2048<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;60150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245477 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 3/20/2052<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;83500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313810 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.20%, 6/20/2053<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;92800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362461 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 6/20/2052<br>| JPY | &nbsp;&nbsp;108850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443247 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 9/20/2045<br>| JPY | &nbsp;&nbsp;146100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718742 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 12/20/2045<br>| JPY | &nbsp;&nbsp;243650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1193356 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 9/20/2052<br>| JPY | &nbsp;&nbsp;129500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539778 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 3/20/2053<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;97400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403382 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 12/20/2044<br>| JPY | &nbsp;&nbsp;291900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485264 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 3/20/2045<br>| JPY | &nbsp;&nbsp;237850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204705 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 6/20/2045<br>| JPY | &nbsp;&nbsp;148500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762713 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 12/20/2052<br>| JPY | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437953 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 12/20/2053<br>| JPY | &nbsp;&nbsp;195000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845052 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 6/20/2033<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;75250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476325 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 12/20/2043<br>| JPY | &nbsp;&nbsp;143000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768776 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 3/20/2044<br>| JPY | &nbsp;&nbsp;132550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708275 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 6/20/2044<br>| JPY | &nbsp;&nbsp;120200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639247 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 9/20/2044<br>| JPY | &nbsp;&nbsp;105900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561082 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 3/20/2043<br>| JPY | &nbsp;&nbsp;122600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679183 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 9/20/2043<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;89900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493178 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 9/20/2053<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;95000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434232 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 3/20/2054<br>| JPY | &nbsp;&nbsp;222450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013496 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 9/20/2042<br>| JPY | &nbsp;&nbsp;148250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840649 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 6/20/2043<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;83300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466426 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/20/2033<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;99700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642190 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 9/20/2040<br>| JPY | &nbsp;&nbsp;131950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782836 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 9/20/2041<br>| JPY | &nbsp;&nbsp;141600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;827937 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/20/2042<br>| JPY | &nbsp;&nbsp;236900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1376044 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 9/20/2054<br>| JPY | &nbsp;&nbsp;428050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2094412 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 3/20/2041<br>| JPY | &nbsp;&nbsp;107500000 | &nbsp;&nbsp;$649177 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 6/20/2054<br>| JPY | &nbsp;&nbsp;180050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902725 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.30%, 12/20/2035<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;42000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273624 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.30%, 12/20/2036<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;76000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490925 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.30%, 3/20/2039<br>| JPY | &nbsp;&nbsp;115350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725157 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.30%, 3/20/2040<br>| JPY | &nbsp;&nbsp;149700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928895 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.30%, 12/20/2054<br>| JPY | &nbsp;&nbsp;319500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636748 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 3/20/2034<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;77900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515946 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 12/20/2034<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;51750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341739 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 3/20/2037<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;69300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450926 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 9/20/2038<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;70750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452417 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 3/20/2055<br>| JPY | &nbsp;&nbsp;290600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1522718 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 6/20/2034<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;85900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572696 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/20/2034<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;88150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587112 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/20/2035<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;56550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375262 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 3/20/2036<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;82950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548895 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/20/2036<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;32000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211086 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/20/2037<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;91550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598549 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 6/20/2055<br>| JPY | &nbsp;&nbsp;215400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230066 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.20%, 9/20/2055<br>| JPY | &nbsp;&nbsp;281100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1739343 |
| Japan Government Twenty Year Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 6/20/2036<br>| JPY | &nbsp;&nbsp;131000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686245 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 6/20/2039<br>| JPY | &nbsp;&nbsp;197450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950095 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 9/20/2039<br>| JPY | &nbsp;&nbsp;182750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871900 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 12/20/2039<br>| JPY | &nbsp;&nbsp;178200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843189 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 3/20/2036<br>| JPY | &nbsp;&nbsp;147550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795647 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 3/20/2039<br>| JPY | &nbsp;&nbsp;200400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986971 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 3/20/2040<br>| JPY | &nbsp;&nbsp;177900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848000 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 6/20/2040<br>| JPY | &nbsp;&nbsp;208850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987509 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 9/20/2040<br>| JPY | &nbsp;&nbsp;252300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1182878 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 6/20/2041<br>| JPY | &nbsp;&nbsp;211700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967260 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 9/20/2036<br>| JPY | &nbsp;&nbsp;193550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041845 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 3/20/2038<br>| JPY | &nbsp;&nbsp;221550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141779 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 6/20/2038<br>| JPY | &nbsp;&nbsp;199000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017732 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 12/20/2038<br>| JPY | &nbsp;&nbsp;259800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307975 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 12/20/2040<br>| JPY | &nbsp;&nbsp;209600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990574 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 3/20/2041<br>| JPY | &nbsp;&nbsp;218150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022394 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 9/20/2041<br>| JPY | &nbsp;&nbsp;224100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033566 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 12/20/2041<br>| JPY | &nbsp;&nbsp;219050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002547 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 12/20/2036<br>| JPY | &nbsp;&nbsp;155350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839938 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 6/20/2037<br>| JPY | &nbsp;&nbsp;166550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888359 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 9/20/2037<br>| JPY | &nbsp;&nbsp;171300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907520 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 12/20/2037<br>| JPY | &nbsp;&nbsp;146000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768157 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 3/20/2037<br>| JPY | &nbsp;&nbsp;119650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650222 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 9/20/2038<br>| JPY | &nbsp;&nbsp;174800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910952 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 3/20/2042<br>| JPY | &nbsp;&nbsp;200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;958933 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 6/20/2042<br>| JPY | &nbsp;&nbsp;211500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025460 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 12/20/2035<br>| JPY | &nbsp;&nbsp;192350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110205 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.10%, 9/20/2042<br>| JPY | &nbsp;&nbsp;355900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1775152 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.10%, 3/20/2043<br>| JPY | &nbsp;&nbsp;225150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110531 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.10%, 6/20/2043<br>| JPY | &nbsp;&nbsp;205000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004212 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.20%, 12/20/2034<br>| JPY | &nbsp;&nbsp;260750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1558694 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.20%, 3/20/2035<br>| JPY | &nbsp;&nbsp;433100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2579369 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.20%, 9/20/2035<br>| JPY | &nbsp;&nbsp;190450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125289 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 6/20/2035<br>| JPY | &nbsp;&nbsp;250850000 | &nbsp;&nbsp;$1502331 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 12/20/2043<br>| JPY | &nbsp;&nbsp;245000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229588 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 9/20/2034<br>| JPY | &nbsp;&nbsp;199900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219869 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 12/20/2042<br>| JPY | &nbsp;&nbsp;242600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1265677 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 3/20/2033<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;86200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539445 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 3/20/2034<br>| JPY | &nbsp;&nbsp;157950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977336 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 6/20/2034<br>| JPY | &nbsp;&nbsp;255900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1579186 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 9/20/2043<br>| JPY | &nbsp;&nbsp;225000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1174731 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 6/20/2030<br>| JPY | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640556 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 3/20/2032<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;84050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533792 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 6/20/2032<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;75000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475350 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 3/20/2033<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;29850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188071 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 12/20/2033<br>| JPY | &nbsp;&nbsp;229600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1436470 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 3/20/2044<br>| JPY | &nbsp;&nbsp;196750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033551 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 3/20/2032<br>| JPY | &nbsp;&nbsp;101400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647706 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 6/20/2032<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318830 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 9/20/2032<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;84000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534868 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 12/20/2032<br>| JPY | &nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635644 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 6/20/2033<br>| JPY | &nbsp;&nbsp;200750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270714 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 9/20/2033<br>| JPY | &nbsp;&nbsp;195250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1233085 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 9/20/2030<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;95050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613694 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 9/20/2031<br>| JPY | &nbsp;&nbsp;180700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1163987 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 12/20/2031<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;86550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556875 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 3/20/2032<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;75000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481915 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 12/20/2032<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;33450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214012 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 9/20/2044<br>| JPY | &nbsp;&nbsp;226200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218604 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 12/20/2028<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;79500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516353 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 3/20/2029<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;54300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352651 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 9/20/2030<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;88200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571931 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 6/20/2044<br>| JPY | &nbsp;&nbsp;237250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1304576 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/20/2027<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;88050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568818 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/20/2044<br>| JPY | &nbsp;&nbsp;262650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457968 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 3/20/2027<br>| JPY | &nbsp;&nbsp;146300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946197 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 6/20/2027<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;47800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309650 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 12/20/2027<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;92250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599541 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 9/20/2028<br>| JPY | &nbsp;&nbsp;111350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726856 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 12/20/2028<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326578 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 9/20/2029<br>| JPY | &nbsp;&nbsp;170900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1117389 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 3/20/2030<br>| JPY | &nbsp;&nbsp;167550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1096149 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 9/20/2027<br>| JPY | &nbsp;&nbsp;149350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970573 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 3/20/2028<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;83000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541416 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 9/20/2028<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;72200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472505 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 12/20/2029<br>| JPY | &nbsp;&nbsp;103600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680048 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 3/20/2031<br>| JPY | &nbsp;&nbsp;&nbsp;&nbsp;60650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398968 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.30%, 6/20/2027<br>| JPY | &nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974462 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 6/20/2028<br>| JPY | &nbsp;&nbsp;125800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825940 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 3/20/2045<br>| JPY | &nbsp;&nbsp;256650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515634 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 6/20/2045<br>| JPY | &nbsp;&nbsp;125000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747959 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 9/20/2045<br>| JPY | &nbsp;&nbsp;185000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138291 |
| Japan Government Two Year Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 2/1/2027<br>| JPY | &nbsp;&nbsp;172000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094668 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 5/1/2027<br>| JPY | &nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953198 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 7/1/2027<br>| JPY | &nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951954 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 3/1/2027<br>| JPY | &nbsp;&nbsp;135000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860014 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 6/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;250000000 | &nbsp;&nbsp;$1589875 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 4/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;253000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1612795 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 8/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;220700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404147 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 9/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953887 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 10/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;294000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1871944 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 11/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;234500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1492395 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.10%, 1/1/2028 (b)<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;122000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777245 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297613509 |
| **LATVIA — 0.1%** | **LATVIA — 0.1%** | **LATVIA — 0.1%** |  |
| Latvia Government International Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 1.38%, 5/16/2036<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209803 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 2.25%, 2/15/2047<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86583 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 2.88%, 5/21/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292497 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3.50%, 1/17/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724041 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3.50%, 10/2/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173039 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3.88%, 3/25/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239306 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725269 |
| **LITHUANIA — 0.2%** | **LITHUANIA — 0.2%** | **LITHUANIA — 0.2%** |  |
| Lithuania Government International Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.50%, 7/28/2050<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137108 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.75%, 5/6/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161150 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.10%, 5/26/2047<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205015 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.13%, 10/22/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.88%, 1/28/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471309 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 3/10/2036<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202523 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.63%, 1/28/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277744 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 3.88%, 6/14/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303469 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 4/25/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182324 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286032 |
| **LUXEMBOURG — 0.2%** | **LUXEMBOURG — 0.2%** | **LUXEMBOURG — 0.2%** |  |
| State of the Grand-Duchy of Luxembourg: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.63%, 2/1/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379448 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 5/25/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113407 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 3/19/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94316 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 10/23/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369841 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 3/1/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116756 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 3/2/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;$707755 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 3/2/2043<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272296 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2053819 |
| **MALAYSIA — 2.4%** | **MALAYSIA — 2.4%** | **MALAYSIA — 2.4%** |  |
| Malaysia Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 4/15/2031<br>| MYR | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594563 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.34%, 5/15/2030<br>| MYR | &nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321137 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.48%, 7/2/2035<br>| MYR | &nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392765 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.52%, 4/20/2028<br>| MYR | &nbsp;&nbsp;2705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673890 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.58%, 7/15/2032<br>| MYR | &nbsp;&nbsp;2050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510520 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.73%, 6/15/2028<br>| MYR | &nbsp;&nbsp;3350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838835 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.76%, 5/22/2040<br>| MYR | &nbsp;&nbsp;5250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288984 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.83%, 7/5/2034<br>| MYR | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757023 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.84%, 4/15/2033<br>| MYR | &nbsp;&nbsp;3875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979053 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.89%, 8/15/2029<br>| MYR | &nbsp;&nbsp;2910000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733499 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.90%, 11/16/2027<br>| MYR | &nbsp;&nbsp;2820000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708016 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.05%, 4/18/2039<br>| MYR | &nbsp;&nbsp;4700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190462 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.07%, 6/15/2050<br>| MYR | &nbsp;&nbsp;3425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860046 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.18%, 5/16/2044<br>| MYR | &nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448402 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.23%, 6/30/2031<br>| MYR | &nbsp;&nbsp;2120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546545 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 5/31/2035<br>| MYR | &nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352031 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.46%, 3/31/2053<br>| MYR | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798286 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 4/30/2029<br>| MYR | &nbsp;&nbsp;4375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123332 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.70%, 10/15/2042<br>| MYR | &nbsp;&nbsp;2110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573934 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.74%, 3/15/2046<br>| MYR | &nbsp;&nbsp;2670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734764 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.76%, 4/7/2037<br>| MYR | &nbsp;&nbsp;2870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779365 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.94%, 9/30/2043<br>| MYR | &nbsp;&nbsp;1910000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534872 |
| Malaysia Government Investment Issue: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.42%, 9/30/2027<br>| MYR | &nbsp;&nbsp;2455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609046 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 7/15/2036<br>| MYR | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487288 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.47%, 10/15/2030<br>| MYR | &nbsp;&nbsp;3150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782477 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.60%, 7/31/2028<br>| MYR | &nbsp;&nbsp;4520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127431 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.61%, 4/30/2035<br>| MYR | &nbsp;&nbsp;1525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378337 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.64%, 8/30/2030<br>| MYR | &nbsp;&nbsp;1375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344260 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.78%, 5/31/2045<br>| MYR | &nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389405 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 10/8/2031<br>| MYR | &nbsp;&nbsp;6125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1546625 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.87%, 8/8/2028<br>| MYR | &nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313803 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.97%, 7/16/2040<br>| MYR | &nbsp;&nbsp;3850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972779 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.12%, 11/30/2034<br>| MYR | &nbsp;&nbsp;2275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585913 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 7/9/2029<br>| MYR | &nbsp;&nbsp;3250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826105 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.19%, 10/7/2032<br>| MYR | &nbsp;&nbsp;2175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561484 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 9/30/2030<br>| MYR | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256792 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.26%, 7/26/2027<br>| MYR | &nbsp;&nbsp;1220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306227 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.28%, 3/23/2054<br>| MYR | &nbsp;&nbsp;4125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063569 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.29%, 8/14/2043<br>| MYR | &nbsp;&nbsp;2550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663116 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.42%, 9/30/2041<br>| MYR | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396568 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.47%, 9/15/2039<br>| MYR | &nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299569 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.58%, 8/30/2033<br>| MYR | &nbsp;&nbsp;2978000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789283 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.72%, 6/15/2033<br>| MYR | &nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427301 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.76%, 8/4/2037<br>| MYR | &nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572614 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.79%, 10/31/2035<br>| MYR | &nbsp;&nbsp;2520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684064 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.90%, 5/8/2047<br>| MYR | &nbsp;&nbsp;1530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431976 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.94%, 12/6/2028<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187548 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;5.36%, 5/15/2052<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;3650000 | &nbsp;&nbsp;$1108922 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31852826 |
| **MEXICO — 2.1%** | **MEXICO — 2.1%** | **MEXICO — 2.1%** |  |
| Mexico Bonos: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 3/4/2027<br>| MXN | &nbsp;&nbsp;14770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802607 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 6/3/2027<br>| MXN | &nbsp;&nbsp;37077000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2059460 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 5/26/2033<br>| MXN | &nbsp;&nbsp;45572000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2357415 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.75%, 5/29/2031<br>| MXN | &nbsp;&nbsp;47679000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2554663 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.75%, 11/23/2034<br>| MXN | &nbsp;&nbsp;36227000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1868745 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.75%, 11/13/2042<br>| MXN | &nbsp;&nbsp;45775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2176155 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 4/15/2032<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133742 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 5/24/2035<br>| MXN | &nbsp;&nbsp;12920000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669462 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 2/21/2036<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;7300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375912 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 11/7/2047<br>| MXN | &nbsp;&nbsp;37358000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787728 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 7/31/2053<br>| MXN | &nbsp;&nbsp;52780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2502129 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 3/2/2028<br>| MXN | &nbsp;&nbsp;34550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1943309 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 3/1/2029<br>| MXN | &nbsp;&nbsp;37050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080684 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 5/31/2029<br>| MXN | &nbsp;&nbsp;36170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2028493 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 2/28/2030<br>| MXN | &nbsp;&nbsp;42400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2364208 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 11/18/2038<br>| MXN | &nbsp;&nbsp;26713000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392398 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.00%, 11/20/2036<br>| MXN | &nbsp;&nbsp;14530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858732 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27955842 |
| **NETHERLANDS — 3.1%** | **NETHERLANDS — 3.1%** | **NETHERLANDS — 3.1%** |  |
| Netherlands Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784825 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/15/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1784000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1955255 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 7/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1721000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807482 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 7/15/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1839000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1872354 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/15/2038<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1429000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145554 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/15/2052<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;2236000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051458 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 7/15/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1581000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724672 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 7/15/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1713000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1749213 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 1/15/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1635000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1321628 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 7/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1858000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139293 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 7/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;2007000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2272662 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 1/15/2054<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1762000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1492591 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 1/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1562000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1838832 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 1/15/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1677000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940424 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/15/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1444549 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/15/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1372000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1565718 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/15/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1123000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268553 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 1/15/2047<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;2334000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2444502 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 1/15/2044<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1144000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313207 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 1/15/2056<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577354 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 1/15/2042<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;2655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3266132 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 1/15/2037<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;2373000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3018808 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 1/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1672000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093206 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40088272 |
| **NEW ZEALAND — 0.8%** | **NEW ZEALAND — 0.8%** | **NEW ZEALAND — 0.8%** |  |
| New Zealand Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 5/15/2028<br>| NZD | &nbsp;&nbsp;&nbsp;&nbsp;1586000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852462 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 5/15/2031<br>| NZD | &nbsp;&nbsp;1476000 | &nbsp;&nbsp;$750861 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 5/15/2041<br>| NZD | &nbsp;&nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207459 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 5/15/2032<br>| NZD | &nbsp;&nbsp;1626000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;827807 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 4/15/2037<br>| NZD | &nbsp;&nbsp;&nbsp;&nbsp;988000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475031 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 5/15/2051<br>| NZD | &nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239654 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 4/20/2029<br>| NZD | &nbsp;&nbsp;2344000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329494 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 4/14/2033<br>| NZD | &nbsp;&nbsp;1511000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832150 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 5/15/2034<br>| NZD | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515721 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 5/15/2036<br>| NZD | &nbsp;&nbsp;1634000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919359 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 4/15/2027<br>| NZD | &nbsp;&nbsp;1898000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115702 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 5/15/2030<br>| NZD | &nbsp;&nbsp;1834000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1089115 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 5/15/2035<br>| NZD | &nbsp;&nbsp;2106000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219508 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 5/15/2054<br>| NZD | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392678 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10767001 |
| **NORWAY — 0.4%** | **NORWAY — 0.4%** | **NORWAY — 0.4%** |  |
| Norway Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 9/17/2031<br>| NOK | &nbsp;&nbsp;3998000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342403 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 8/19/2030<br>| NOK | &nbsp;&nbsp;6938000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615054 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 2/17/2027<br>| NOK | &nbsp;&nbsp;3340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323193 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 9/6/2029<br>| NOK | &nbsp;&nbsp;6216000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571397 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 4/26/2028<br>| NOK | &nbsp;&nbsp;4509000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428454 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 5/18/2032<br>| NOK | &nbsp;&nbsp;4744000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421276 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 8/15/2033<br>| NOK | &nbsp;&nbsp;8700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803064 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 10/6/2042<br>| NOK | &nbsp;&nbsp;3571000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326730 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 4/13/2034<br>| NOK | &nbsp;&nbsp;7425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711913 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 5/31/2039<br>| NOK | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93563 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 6/12/2035<br>| NOK | &nbsp;&nbsp;7325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703301 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5340348 |
| **PERU — 0.5%** | **PERU — 0.5%** | **PERU — 0.5%** |  |
| Peru Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.35%, 8/12/2040<br>| PEN | &nbsp;&nbsp;1890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498262 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.40%, 8/12/2034<br>| PEN | &nbsp;&nbsp;1470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435354 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.94%, 2/12/2029<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;945000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294273 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.15%, 8/12/2032<br>| PEN | &nbsp;&nbsp;2590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830698 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.35%, 8/12/2028<br>| PEN | &nbsp;&nbsp;1025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320807 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.85%, 8/12/2035<br>| PEN | &nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719695 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.90%, 8/12/2037<br>| PEN | &nbsp;&nbsp;3450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071741 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.95%, 8/12/2031<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165229 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.30%, 8/12/2033<br>| PEN | &nbsp;&nbsp;2350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796600 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.60%, 8/12/2039<br>| PEN | &nbsp;&nbsp;2075000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673026 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.20%, 8/12/2026<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99010 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5904695 |
| **POLAND — 1.8%** | **POLAND — 1.8%** | **POLAND — 1.8%** |  |
| Republic of Poland Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/25/2027<br>| PLN | &nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737586 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/25/2028<br>| PLN | &nbsp;&nbsp;1550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399176 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 10/25/2030<br>| PLN | &nbsp;&nbsp;5973000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1434718 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 4/25/2032<br>| PLN | &nbsp;&nbsp;6964000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631517 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/25/2027<br>| PLN | &nbsp;&nbsp;4794000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1310657 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 4/25/2028<br>| PLN | &nbsp;&nbsp;4929000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339801 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 10/25/2029<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;8651000 | &nbsp;&nbsp;$2279023 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 5/25/2027<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;3706000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1032819 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/25/2047<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131863 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 7/25/2030<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;5700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587734 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 7/25/2029<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;9041000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2559727 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 1/25/2030<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;6600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1877917 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/25/2034<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;8345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2310616 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/25/2035<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521714 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 4/25/2029<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;885000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258097 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 10/25/2033<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;6735000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002568 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 7/25/2028<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;6327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910900 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23326433 |
| **PORTUGAL — 1.4%** | **PORTUGAL — 1.4%** | **PORTUGAL — 1.4%** |  |
| Portugal Obrigacoes do Tesouro OT: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 10/17/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;991000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018202 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.48%, 10/18/2030<br>| EUR | &nbsp;&nbsp;1068000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141606 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 10/12/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;858000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815942 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 4/12/2052<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;794000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492191 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.15%, 4/11/2042<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;502000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408933 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.65%, 7/16/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;701000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768230 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.95%, 6/15/2029<br>| EUR | &nbsp;&nbsp;1399400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1626170 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 10/17/2028<br>| EUR | &nbsp;&nbsp;1635000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1918900 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 4/18/2034<br>| EUR | &nbsp;&nbsp;1010000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121270 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/14/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408715 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/20/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;827699 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 6/15/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551340 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 6/18/2038<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;572000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674291 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 6/12/2054<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;519000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569854 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 2/15/2030<br>| EUR | &nbsp;&nbsp;1585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1968557 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.10%, 4/15/2037<br>| EUR | &nbsp;&nbsp;1829000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2302976 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.10%, 2/15/2045<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094322 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 4/14/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957936 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18667134 |
| **ROMANIA — 0.6%** | **ROMANIA — 0.6%** | **ROMANIA — 0.6%** |  |
| Romania Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.65%, 9/24/2031<br>| RON | &nbsp;&nbsp;1885000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374288 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.15%, 1/26/2028<br>| RON | &nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386079 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.15%, 10/24/2030<br>| RON | &nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477487 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 4/28/2036<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89467 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/11/2034<br>| RON | &nbsp;&nbsp;2730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547120 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 7/25/2029<br>| RON | &nbsp;&nbsp;2230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484816 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 2/12/2029<br>| RON | &nbsp;&nbsp;3295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725829 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.80%, 7/26/2027<br>| RON | &nbsp;&nbsp;1720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393345 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.30%, 4/26/2028<br>| RON | &nbsp;&nbsp;1425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326514 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.30%, 4/25/2029<br>| RON | &nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387588 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.70%, 2/25/2032<br>| RON | &nbsp;&nbsp;1645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377678 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.10%, 7/31/2034<br>| RON | &nbsp;&nbsp;1415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332467 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.20%, 5/31/2027<br>| RON | &nbsp;&nbsp;2110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491861 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.35%, 4/28/2031<br>| RON | &nbsp;&nbsp;1525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361414 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.40%, 4/28/2027<br>| RON | &nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303560 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 7/27/2033<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173933 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.65%, 7/27/2031<br>| RON | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180112 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;7.90%, 2/24/2038<br>| RON | &nbsp;&nbsp;3320000 | &nbsp;&nbsp;$830249 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 4/29/2030<br>| RON | &nbsp;&nbsp;1695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409306 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.25%, 9/29/2032<br>| RON | &nbsp;&nbsp;2775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688827 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8341940 |
| **SINGAPORE — 1.0%** | **SINGAPORE — 1.0%** | **SINGAPORE — 1.0%** |  |
| Singapore Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 7/1/2031<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517133 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 3/1/2050<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;338000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247540 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 10/1/2051<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252835 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 8/1/2036<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;877000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683555 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 7/1/2040<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175393 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 7/1/2039<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583440 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 4/1/2030<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419975 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 5/1/2028<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;854000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680274 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 8/1/2032<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;708000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572060 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 3/1/2035<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657279 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 4/1/2042<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;656000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546290 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 3/1/2046<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;985000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834883 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 9/1/2027<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;938000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745892 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 8/1/2028<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421495 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 7/1/2029<br>| SGD | &nbsp;&nbsp;1027000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829851 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 9/1/2030<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;916000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744731 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 4/1/2029<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;883000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715880 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 8/1/2072<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;842000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768092 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 6/1/2054<br>| SGD | &nbsp;&nbsp;1212000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122976 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 9/1/2033<br>| SGD | &nbsp;&nbsp;1055000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895625 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 5/1/2034<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341499 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 3/1/2027<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632220 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13388918 |
| **SLOVAKIA — 0.6%** | **SLOVAKIA — 0.6%** | **SLOVAKIA — 0.6%** |  |
| Slovakia Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.38%, 4/21/2036<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401792 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 6/12/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370872 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 10/9/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;351000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381500 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 5/14/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;317000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327997 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 1/21/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;349000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386630 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 3/9/2037<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;358000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350539 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 10/17/2047<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300917 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/12/2068<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47672 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 2/7/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327373 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/6/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316467 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 1/16/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;633000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767447 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 6/8/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;467000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559493 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 3/6/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;526000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633495 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 2/23/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119422 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 2/27/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024742 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/19/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;961000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1185734 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 2/23/2043<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317061 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7819153 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SLOVENIA — 0.3%** | **SLOVENIA — 0.3%** | **SLOVENIA — 0.3%** |  |
| Slovenia Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 2/12/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;$283655 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.28%, 1/14/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216273 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.88%, 7/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182887 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 3/6/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251508 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.18%, 2/13/2062<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146965 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.19%, 3/14/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250340 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 3/22/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217739 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 3/25/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306428 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 11/3/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218373 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 3/3/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558076 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 3/10/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351449 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 7/2/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145048 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 8/7/2045<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692627 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3821368 |
| **SOUTH KOREA — 4.6%** | **SOUTH KOREA — 4.6%** | **SOUTH KOREA — 4.6%** |  |
| Korea Treasury Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 9/10/2039<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;835000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438680 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 12/10/2029<br>| KRW | &nbsp;&nbsp;1100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;712771 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 6/10/2030<br>| KRW | &nbsp;&nbsp;1493000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956002 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 12/10/2030<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;914000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583460 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 9/10/2036<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;685690000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396279 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 9/10/2040<br>| KRW | &nbsp;&nbsp;1000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540825 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 3/10/2050<br>| KRW | &nbsp;&nbsp;3850000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1868366 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 9/10/2070<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;950000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415634 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 9/10/2041<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;750000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422866 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 3/10/2051<br>| KRW | &nbsp;&nbsp;4265000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2238892 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 6/10/2031<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;814000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528403 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/10/2046<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;975000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542581 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/10/2049<br>| KRW | &nbsp;&nbsp;2264000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235773 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 6/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;657870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452715 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 3/10/2047<br>| KRW | &nbsp;&nbsp;1820330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029979 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 9/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;949000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652923 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/10/2028<br>| KRW | &nbsp;&nbsp;2775000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893430 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 9/10/2037<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309707 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 3/10/2027<br>| KRW | &nbsp;&nbsp;1470000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017236 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 12/10/2031<br>| KRW | &nbsp;&nbsp;1054000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694714 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/10/2030<br>| KRW | &nbsp;&nbsp;1135000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763428 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 3/10/2052<br>| KRW | &nbsp;&nbsp;2598000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1549385 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 3/10/2027<br>| KRW | &nbsp;&nbsp;1225000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850143 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 3/10/2030<br>| KRW | &nbsp;&nbsp;2188000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1482646 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 6/10/2035<br>| KRW | &nbsp;&nbsp;1575000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026060 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 9/10/2035<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;839210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546050 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 3/10/2048<br>| KRW | &nbsp;&nbsp;2090000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289042 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 3/10/2055<br>| KRW | &nbsp;&nbsp;4675000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850616 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 9/10/2055<br>| KRW | &nbsp;&nbsp;2275000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394943 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 12/10/2044<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;998000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632615 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 9/10/2054<br>| KRW | &nbsp;&nbsp;1920000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200688 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 9/10/2074<br>| KRW | &nbsp;&nbsp;1250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779729 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 12/10/2027<br>| KRW | &nbsp;&nbsp;1332000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925056 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 9/10/2044<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;800000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516930 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 9/10/2029<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;925000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638655 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/10/2034<br>| KRW | &nbsp;&nbsp;1500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006573 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/10/2042<br>| KRW | &nbsp;&nbsp;1421780000 | &nbsp;&nbsp;$931404 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 9/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;858000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598789 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 9/10/2052<br>| KRW | &nbsp;&nbsp;1100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738928 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 6/10/2027<br>| KRW | &nbsp;&nbsp;1264000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883557 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 3/10/2028<br>| KRW | &nbsp;&nbsp;1482000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036450 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 3/10/2029<br>| KRW | &nbsp;&nbsp;2360000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1647201 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 6/10/2033<br>| KRW | &nbsp;&nbsp;1069000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734659 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 9/10/2042<br>| KRW | &nbsp;&nbsp;1350000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914664 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 3/10/2053<br>| KRW | &nbsp;&nbsp;2700000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854977 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 3/10/2054<br>| KRW | &nbsp;&nbsp;2985000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2054057 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 6/10/2032<br>| KRW | &nbsp;&nbsp;1579000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098656 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 9/10/2028<br>| KRW | &nbsp;&nbsp;1600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124484 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 6/10/2034<br>| KRW | &nbsp;&nbsp;2446000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1705917 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 9/10/2053<br>| KRW | &nbsp;&nbsp;1750000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285786 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 12/10/2033<br>| KRW | &nbsp;&nbsp;1436250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020925 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 9/10/2043<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;950000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696668 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/10/2031<br>| KRW | &nbsp;&nbsp;1222640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879531 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 12/10/2033<br>| KRW | &nbsp;&nbsp;1005000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732427 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/10/2032<br>| KRW | &nbsp;&nbsp;1313000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959710 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 12/10/2030<br>| KRW | &nbsp;&nbsp;3095050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2291110 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 3/10/2028<br>| KRW | &nbsp;&nbsp;3337000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2442912 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60016607 |
| **SPAIN — 4.5%** | **SPAIN — 4.5%** | **SPAIN — 4.5%** |  |
| Spain Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/31/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771585 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/31/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507240 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 4/30/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1267000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1298826 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 4/30/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324501 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 10/31/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1265425 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 10/31/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1193434 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 4/30/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1319219 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 7/30/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910251 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 7/30/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375288 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.85%, 7/30/2037<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716731 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 7/30/2042<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603621 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 10/31/2050<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576753 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.20%, 10/31/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738013 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 10/31/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456640 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 4/30/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378318 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 7/30/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354990 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.45%, 10/31/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313644 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.45%, 4/30/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268587 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.45%, 10/31/2071<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247859 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 4/30/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885642 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.85%, 7/30/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897017 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 10/31/2052<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536677 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.95%, 7/30/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433145 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.35%, 7/30/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1107179 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 5/31/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029631 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 5/31/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1111000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1310973 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.55%, 10/31/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328945 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 1/31/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913125 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 10/31/2048<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938764 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.90%, 10/31/2046<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966379 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;3.10%, 7/30/2031<br>| EUR | &nbsp;&nbsp;1177000 | &nbsp;&nbsp;$1406965 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 4/30/2033<br>| EUR | &nbsp;&nbsp;1237000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468189 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 4/30/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;996000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161876 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.20%, 10/31/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933416 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 4/30/2034<br>| EUR | &nbsp;&nbsp;1134000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343352 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 10/31/2034<br>| EUR | &nbsp;&nbsp;1155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1384129 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 7/30/2043<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;838000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937220 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 7/30/2066<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;777000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779114 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 5/31/2029<br>| EUR | &nbsp;&nbsp;1230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1494707 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.55%, 10/31/2033<br>| EUR | &nbsp;&nbsp;1129000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370936 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.90%, 7/30/2039<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047122 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/31/2054<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736255 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.20%, 1/31/2037<br>| EUR | &nbsp;&nbsp;1719000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2165708 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.70%, 7/30/2041<br>| EUR | &nbsp;&nbsp;1311000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1718649 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.90%, 7/30/2040<br>| EUR | &nbsp;&nbsp;1337000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1788268 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.15%, 10/31/2028<br>| EUR | &nbsp;&nbsp;1316000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1664277 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.15%, 10/31/2044<br>| EUR | &nbsp;&nbsp;1140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576176 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 7/30/2032<br>| EUR | &nbsp;&nbsp;1466000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2017850 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 1/31/2029<br>| EUR | &nbsp;&nbsp;1695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205456 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59168067 |
| **SWEDEN — 0.4%** | **SWEDEN — 0.4%** | **SWEDEN — 0.4%** |  |
| Sweden Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 5/12/2031<br>| SEK | &nbsp;&nbsp;5510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529740 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 11/24/2045<br>| SEK | &nbsp;&nbsp;2155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146983 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 5/12/2028<br>| SEK | &nbsp;&nbsp;7875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828011 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 11/12/2029<br>| SEK | &nbsp;&nbsp;9165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939127 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 6/23/2071<br>| SEK | &nbsp;&nbsp;1455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87877 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 11/11/2033<br>| SEK | &nbsp;&nbsp;5770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587478 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/1/2032<br>| SEK | &nbsp;&nbsp;6545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699277 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 5/11/2035<br>| SEK | &nbsp;&nbsp;9800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019500 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/15/2036<br>| SEK | &nbsp;&nbsp;2425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254953 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 3/30/2039<br>| SEK | &nbsp;&nbsp;5545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638889 |
| Sweden Government International Bonds 0.13%, 9/9/2030<br>| SEK | &nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156560 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5888395 |
| **SWITZERLAND — 0.9%** | **SWITZERLAND — 0.9%** | **SWITZERLAND — 0.9%** |  |
| Swiss Confederation Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 6/22/2029<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;497000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627023 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 6/26/2034<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;294000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362978 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 7/24/2039<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;334000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397497 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 6/23/2035<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375926 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 5/27/2030<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;427000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548533 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 6/27/2032<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;321000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412942 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 6/28/2045<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;393000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495100 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 5/24/2055<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345933 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 5/30/2058<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;222000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285670 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.88%, 5/22/2047<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;426000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575984 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 6/27/2037<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;423000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585499 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 6/28/2043<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;366000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519426 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 10/26/2038<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584549 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 4/30/2042<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561498 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

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| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 6/25/2064<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519000 | &nbsp;&nbsp;$1039089 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/22/2031<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878147 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 3/8/2036<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591959 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 6/27/2027<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423745 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 4/8/2033<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700293 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/8/2028<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578447 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 1/6/2049<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608073 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11498311 |
| **THAILAND — 2.4%** | **THAILAND — 2.4%** | **THAILAND — 2.4%** |  |
| Thailand Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.59%, 12/17/2035<br>| THB | &nbsp;&nbsp;17650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558701 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 6/17/2035<br>| THB | &nbsp;&nbsp;11225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356456 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.66%, 3/17/2030<br>| THB | &nbsp;&nbsp;26400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852519 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 6/17/2049<br>| THB | &nbsp;&nbsp;16250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472109 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/17/2031<br>| THB | &nbsp;&nbsp;38900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1282241 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 6/17/2042<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;8600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266352 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.05%, 4/17/2028<br>| THB | &nbsp;&nbsp;26725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865865 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 3/17/2027<br>| THB | &nbsp;&nbsp;29750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957055 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 11/17/2027<br>| THB | &nbsp;&nbsp;29350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954168 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 3/17/2029<br>| THB | &nbsp;&nbsp;33775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113241 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.41%, 3/17/2035<br>| THB | &nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848333 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/17/2029<br>| THB | &nbsp;&nbsp;47100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567350 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.65%, 6/17/2028<br>| THB | &nbsp;&nbsp;23850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783897 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 6/17/2040<br>| THB | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693684 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 6/17/2052<br>| THB | &nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511159 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 6/17/2034<br>| THB | &nbsp;&nbsp;31750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105059 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 12/17/2028<br>| THB | &nbsp;&nbsp;21750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724614 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 6/17/2046<br>| THB | &nbsp;&nbsp;18350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631460 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.14%, 6/17/2047<br>| THB | &nbsp;&nbsp;20900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738075 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 6/17/2050<br>| THB | &nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1068476 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.30%, 6/17/2038<br>| THB | &nbsp;&nbsp;24300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888771 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.35%, 6/17/2033<br>| THB | &nbsp;&nbsp;26350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951003 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.39%, 6/17/2037<br>| THB | &nbsp;&nbsp;27100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000061 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 6/17/2036<br>| THB | &nbsp;&nbsp;17710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649280 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 6/17/2043<br>| THB | &nbsp;&nbsp;39700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469401 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.60%, 6/17/2067<br>| THB | &nbsp;&nbsp;16750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680151 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.78%, 6/25/2032<br>| THB | &nbsp;&nbsp;25250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920887 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 6/17/2055<br>| THB | &nbsp;&nbsp;16000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669766 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 6/17/2066<br>| THB | &nbsp;&nbsp;16920000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742955 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 6/17/2072<br>| THB | &nbsp;&nbsp;17500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791515 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.26%, 12/12/2037<br>| THB | &nbsp;&nbsp;32100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249057 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.68%, 6/29/2044<br>| THB | &nbsp;&nbsp;21540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930288 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 6/17/2061<br>| THB | &nbsp;&nbsp;22210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093216 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 6/22/2029<br>| THB | &nbsp;&nbsp;41255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473552 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.67%, 3/13/2028<br>| THB | &nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870201 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30730918 |
| **UNITED KINGDOM — 5.1%** | **UNITED KINGDOM — 5.1%** | **UNITED KINGDOM — 5.1%** |  |
| U.K. Gilts: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 1/31/2028<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470478 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 7/31/2031<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;1394000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532975 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 1/31/2029<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;1019000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243744 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 10/22/2061<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44279 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.63%, 7/31/2035<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;1117000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056529 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;0.63%, 10/22/2050<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;698000 | &nbsp;&nbsp;$346227 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.88%, 10/22/2029<br>| GBP | &nbsp;&nbsp;1017000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229642 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.88%, 7/31/2033<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;628000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660483 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.88%, 1/31/2046<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;807000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511550 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 1/31/2032<br>| GBP | &nbsp;&nbsp;1028000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1154850 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 10/22/2073<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;329000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142193 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 7/31/2051<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;931000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555489 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 7/22/2047<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;699000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496684 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 7/31/2053<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417485 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 10/22/2028<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;304000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386794 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 10/22/2054<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;809000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510699 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 10/22/2071<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460246 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 1/22/2049<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;799000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583789 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 7/22/2057<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;984000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622491 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/22/2065<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;658000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494160 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 1/31/2033<br>| GBP | &nbsp;&nbsp;1294000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1634886 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 1/22/2044<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;917000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966343 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 1/22/2045<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;896000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970155 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 7/22/2068<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;686000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667837 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 3/7/2027<br>| GBP | &nbsp;&nbsp;1060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1425912 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 1/29/2038<br>| GBP | &nbsp;&nbsp;1519000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1856274 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 7/22/2052<br>| GBP | &nbsp;&nbsp;1034000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1103357 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 10/22/2053<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;872000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920902 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 5/22/2029<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337677 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/22/2031<br>| GBP | &nbsp;&nbsp;1062000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421952 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 1/22/2060<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872273 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/22/2063<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552572 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 1/29/2027<br>| GBP | &nbsp;&nbsp;1163000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570711 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 7/22/2029<br>| GBP | &nbsp;&nbsp;1638000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2222773 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/7/2027<br>| GBP | &nbsp;&nbsp;1052000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1431147 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 6/7/2032<br>| GBP | &nbsp;&nbsp;1228000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1667093 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 7/31/2034<br>| GBP | &nbsp;&nbsp;1974000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2623208 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 3/7/2036<br>| GBP | &nbsp;&nbsp;1191000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559558 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 9/7/2039<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;907000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1148762 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/7/2040<br>| GBP | &nbsp;&nbsp;1148000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435786 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/7/2046<br>| GBP | &nbsp;&nbsp;1588000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1895107 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/7/2049<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018421 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/7/2055<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;889000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027058 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 3/7/2028<br>| GBP | &nbsp;&nbsp;2045000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2785452 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 3/7/2030<br>| GBP | &nbsp;&nbsp;1507000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2061307 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 1/31/2040<br>| GBP | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275695 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 7/31/2054<br>| GBP | &nbsp;&nbsp;1037000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1222787 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 6/7/2028<br>| GBP | &nbsp;&nbsp;1970000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2695103 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 9/7/2034<br>| GBP | &nbsp;&nbsp;2255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3053445 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 3/7/2035<br>| GBP | &nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1751492 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 12/7/2042<br>| GBP | &nbsp;&nbsp;1390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1760514 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 1/31/2034<br>| GBP | &nbsp;&nbsp;1439000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1969468 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 12/7/2030<br>| GBP | &nbsp;&nbsp;1503000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2099278 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 12/7/2038<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;821000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102634 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 12/7/2028<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;624000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890972 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65918698 |
| **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $1,409,059,814)<br>** | **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $1,409,059,814)<br>** | **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $1,409,059,814)<br>** | &nbsp;&nbsp;&nbsp;1289454722 |

---

&nbsp;&nbsp;&nbsp;&nbsp;

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 0.2%** | **SHORT-TERM INVESTMENTS — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (c) (d) | 2222654 | &nbsp;&nbsp;$2222654 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (e) (f) | &nbsp;&nbsp;&nbsp;358568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358568 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $2,581,222)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $2,581,222)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2581222 |
| **TOTAL INVESTMENTS — 99.2%<br>(Cost $1,411,641,036)<br>** | **TOTAL INVESTMENTS — 99.2%<br>(Cost $1,411,641,036)<br>** | &nbsp;&nbsp;&nbsp;1292035944 |
| **OTHER ASSETS IN EXCESS OF<br>LIABILITIES — 0.8% <br>** | **OTHER ASSETS IN EXCESS OF<br>LIABILITIES — 0.8% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10130397 |
| **NET ASSETS — 100.0% <br>** | **NET ASSETS — 100.0% <br>** | $1302166341 |

---

(a) All or a portion of the shares of the security are on loan at December 31, 2025.

(b) When-issued security.

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

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

(e) The Fund invested in an affiliated entity. Amounts related to these investments during the year ended December 31, 2025 are shown in the Affiliate Table below.

(f) Investment of cash collateral for securities loaned.

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

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations: |  |
| EMTN | Euro Medium Term Note |
| GMTN | Global Medium Term Note |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| CNY | China Yuan Renminbi |
| CZK | Czech Koruna |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| HKD | Hong Kong Dollar |
| HUF | Hungary Forint |
| IDR | Indonesia Rupiah |
| ILS | Israeli New Shekel |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peru Nuevo Sol |
| PLN | Polish Zloty |
| RON | Romania New Leu |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Baht |

---

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of December 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:** |  |  |  |  |
| Foreign Government Obligations<br>| $— | $1289454722 | $— | $1289454722 |
| Short-Term Investments<br>| &nbsp;&nbsp;2581222 | &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;2581222 |
| **TOTAL INVESTMENTS<br>**  | $2581222 | $1289454722 | $— | $1292035944 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 12/31/24** | **Value at<br>12/31/24** | **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> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 9967697 | $9967697 | $366432276 | $374177319 | $— | $— | 2222654 | $2222654 | $136225 |
| State Street Navigator Securities Lending Portfolio II<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;15629213 | &nbsp;&nbsp;&nbsp;15270645 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;358568 | &nbsp;&nbsp;&nbsp;&nbsp;358568 | &nbsp;&nbsp;&nbsp;&nbsp;4717 |
| Total<br>|  | $9967697 | $382061489 | $389447964 | $— | $— |  | $2581222 | $140942 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG SHORT TERM INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS — 99.2%** | **FOREIGN GOVERNMENT OBLIGATIONS — 99.2%** | **FOREIGN GOVERNMENT OBLIGATIONS — 99.2%** |  |
| **AUSTRALIA — 4.4%** | **AUSTRALIA — 4.4%** | **AUSTRALIA — 4.4%** |  |
| Australia Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 5/21/2028<br>| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5870000 | &nbsp;&nbsp;$3751960 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 11/21/2027<br>| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2946705 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 11/21/2028<br>| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4236252 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 4/21/2027<br>| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6579000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4427743 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15362660 |
| **AUSTRIA — 2.5%** | **AUSTRIA — 2.5%** | **AUSTRIA — 2.5%** |  |
| Republic of Austria Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 10/20/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268493 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 4/20/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2441517 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 2/20/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2508409 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 7/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2114000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2636592 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8855011 |
| **BELGIUM — 3.3%** | **BELGIUM — 3.3%** | **BELGIUM — 3.3%** |  |
| Kingdom of Belgium Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 10/22/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638562 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 6/22/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1627000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875526 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 6/22/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2720015 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 3/28/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4278000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5375724 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11609827 |
| **CANADA — 4.6%** | **CANADA — 4.6%** | **CANADA — 4.6%** |  |
| Canada Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 6/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092994 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 3/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393557 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 6/1/2028<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1042001 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 2/1/2028<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904942 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 8/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075268 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1999549 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 5/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2858000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091954 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 9/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1320537 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 2/1/2027<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3531000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2591418 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 9/1/2028<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2085000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542193 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 3/1/2028<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1838045 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15892458 |
| **CHILE — 0.4%** | **CHILE — 0.4%** | **CHILE — 0.4%** |  |
| Bonos de la Tesoreria de la Republica en pesos: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 5/6/2027<br>| CLP | &nbsp;&nbsp;910000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954108 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.90%, 11/1/2027<br>| CLP | &nbsp;&nbsp;&nbsp;&nbsp;75000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83948 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/1/2028<br>| CLP | &nbsp;&nbsp;400000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446925 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484981 |
| **CHINA — 4.6%** | **CHINA — 4.6%** | **CHINA — 4.6%** |  |
| China Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 6/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675988 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.42%, 11/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602002 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;1.42%, 8/15/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;7600000 | &nbsp;&nbsp;$1088164 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.45%, 2/25/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;6400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918239 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.46%, 5/25/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;7700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105434 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.59%, 3/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;5020000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720752 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.62%, 8/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;6140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882726 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.85%, 5/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;4800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691658 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.04%, 2/25/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;5050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728460 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.44%, 10/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;6250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910691 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.48%, 4/15/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435505 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/25/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;2820000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410061 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.62%, 4/15/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030067 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.64%, 1/15/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587416 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.85%, 6/4/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;8700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1272431 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.01%, 5/13/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683968 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/22/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528668 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.28%, 12/3/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594741 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.52%, 5/4/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739297 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.59%, 8/3/2027<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223312 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.69%, 5/17/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910371 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.85%, 2/1/2028<br>| CNY | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151443 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15891394 |
| **CROATIA — 0.4%** | **CROATIA — 0.4%** | **CROATIA — 0.4%** |  |
| Croatia Government Bonds 2.65%, 3/10/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294749 |
| Croatia Government International Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 6/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431203 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 3/20/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711082 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1437034 |
| **CYPRUS — 0.1%** | **CYPRUS — 0.1%** | **CYPRUS — 0.1%** |  |
| Cyprus Government International Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 1.50%, 4/16/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145412 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 2.38%, 9/25/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265581 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410993 |
| **CZECH REPUBLIC — 0.8%** | **CZECH REPUBLIC — 0.8%** | **CZECH REPUBLIC — 0.8%** |  |
| Czech Republic Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 2/10/2027<br>| CZK | &nbsp;&nbsp;25510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197143 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 8/25/2028<br>| CZK | &nbsp;&nbsp;21600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018601 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/12/2028<br>| CZK | &nbsp;&nbsp;13000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661680 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2877424 |
| **DENMARK — 0.4%** | **DENMARK — 0.4%** | **DENMARK — 0.4%** |  |
| Denmark Government Bonds 0.50%, 11/15/2027<br>| DKK | &nbsp;&nbsp;&nbsp;&nbsp;9817000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506476 |
| **FINLAND — 1.2%** | **FINLAND — 1.2%** | **FINLAND — 1.2%** |  |
| Finland Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 9/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113840 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG SHORT TERM INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 9/15/2028<br>| EUR | &nbsp;&nbsp;1100000 | &nbsp;&nbsp;$1231926 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 4/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;563000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655514 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 7/4/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;965000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1148312 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4149592 |
| **FRANCE — 5.0%** | **FRANCE — 5.0%** | **FRANCE — 5.0%** |  |
| French Republic Government Bonds OAT: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 2/25/2027<br>| EUR | &nbsp;&nbsp;1205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381065 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 2/25/2028<br>| EUR | &nbsp;&nbsp;1472000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1672666 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 5/25/2028<br>| EUR | &nbsp;&nbsp;2425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2742500 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 11/25/2028<br>| EUR | &nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1902917 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 5/25/2027<br>| EUR | &nbsp;&nbsp;1582000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1827762 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 9/24/2028<br>| EUR | &nbsp;&nbsp;1850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2171395 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/24/2027<br>| EUR | &nbsp;&nbsp;2381000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2808811 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 10/25/2027<br>| EUR | &nbsp;&nbsp;2499000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2960586 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17467702 |
| **GERMANY — 4.8%** | **GERMANY — 4.8%** | **GERMANY — 4.8%** |  |
| Bundesobligation: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 4/16/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921296 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 10/15/2027<br>| EUR | &nbsp;&nbsp;1785000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2068442 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 4/13/2028<br>| EUR | &nbsp;&nbsp;1375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1617125 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 10/19/2028<br>| EUR | &nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416652 |
| Bundesrepublik Deutschland Bundesanleihe: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 11/15/2027<br>| EUR | &nbsp;&nbsp;1225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1384506 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 11/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551998 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 2/15/2027<br>| EUR | &nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1295796 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 8/15/2028<br>| EUR | &nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1341749 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 8/15/2027<br>| EUR | &nbsp;&nbsp;1441000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650354 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 2/15/2028<br>| EUR | &nbsp;&nbsp;1525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732284 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 1/4/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457996 |
| Bundesschatzanweisungen: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.70%, 6/10/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677583 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 9/16/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380401 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/16/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468676 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 3/11/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753046 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16717904 |
| **GREECE — 0.7%** | **GREECE — 0.7%** | **GREECE — 0.7%** |  |
| Hellenic Republic Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 4/22/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323615 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 1/30/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1089868 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 6/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016737 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2430220 |
| **HONG KONG — 0.2%** | **HONG KONG — 0.2%** | **HONG KONG — 0.2%** |  |
| Hong Kong Government Bonds Programme 1.25%, 6/29/2027<br>| HKD | &nbsp;&nbsp;1550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195960 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Hong Kong Government Infrastructure Bonds Programme: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.76%, 4/25/2028<br>| HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;$270983 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.89%, 10/25/2027<br>| HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193902 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660845 |
| **HUNGARY — 0.6%** | **HUNGARY — 0.6%** | **HUNGARY — 0.6%** |  |
| Hungary Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/27/2027<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602692 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 3/23/2028<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442623 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 10/22/2028<br>| HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145515 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190830 |
| **INDONESIA — 1.7%** | **INDONESIA — 1.7%** | **INDONESIA — 1.7%** |  |
| Indonesia Treasury Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.13%, 4/15/2027<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;14623000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875466 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.13%, 5/15/2028<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;17090000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041767 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 8/15/2028<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;23548000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1446189 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.00%, 5/15/2027<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;19442000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1192517 |
| Perusahaan Penerbit SBSN Indonesia: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.88%, 7/15/2028<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;13950000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;849466 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 1/15/2027<br>| &nbsp;&nbsp;IDR | &nbsp;&nbsp;10861000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658932 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6064337 |
| **IRELAND — 0.8%** | **IRELAND — 0.8%** | **IRELAND — 0.8%** |  |
| Ireland Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 5/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289282 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 5/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1305000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1488410 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2777692 |
| **ISRAEL — 1.4%** | **ISRAEL — 1.4%** | **ISRAEL — 1.4%** |  |
| Israel Government Bonds - Fixed: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/31/2027<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156532 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 9/28/2028<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1785917 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 9/30/2027<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1866807 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.10%, 7/31/2028<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157971 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4967227 |
| **ITALY — 4.6%** | **ITALY — 4.6%** | **ITALY — 4.6%** |  |
| Italy Buoni Poliennali Del Tesoro: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 3/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769912 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 7/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813331 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.95%, 9/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967133 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.10%, 4/1/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661260 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 2/1/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052029 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.05%, 8/1/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054434 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 6/1/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629380 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.55%, 2/25/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949717 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.65%, 12/1/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240277 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.65%, 6/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418516 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 10/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941185 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 2/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001199 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG SHORT TERM INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 4/1/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925000 | &nbsp;&nbsp;$1112016 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 7/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1336000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1598722 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 9/1/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650392 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15859503 |
| **JAPAN — 22.9%** | **JAPAN — 22.9%** | **JAPAN — 22.9%** |  |
| Japan Government Five Year Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 3/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;221200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395277 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 6/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;453500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850241 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;195000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1231469 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 9/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;532550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340308 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;393000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2449339 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 6/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;189000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173935 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 12/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;380000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2380658 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 3/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;280000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1748917 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 6/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;230000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1432106 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.20%, 12/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;165000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019853 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 12/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;220000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380956 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 6/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560432 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 9/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;225000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1399997 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.30%, 12/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;165000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022875 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 9/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;425000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2651922 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 12/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;175000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1088015 |
| Japan Government Ten Year Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;591500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3735380 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 6/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;595000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3744653 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 9/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;565000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543843 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 12/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;561000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3507695 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;721000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4493296 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 6/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;575000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3571680 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 9/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;560000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3465680 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 12/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;525000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3235041 |
| Japan Government Twenty Year Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 12/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;165000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071676 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323009 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 3/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1293502 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 6/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;80550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521806 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 9/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324396 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 12/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;240000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559782 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 9/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979151 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 9/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;170000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104769 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 3/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1304616 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.30%, 6/20/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;103650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673353 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 3/20/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;64800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424494 |
| Japan Government Two Year Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 5/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;205000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1302704 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 7/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1586590 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 3/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;118000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751716 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 6/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;203000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1290979 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 4/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;233000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485302 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 8/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;204000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1297898 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.90%, 9/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271849 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 10/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;251000000 | &nbsp;&nbsp;$1598156 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 11/1/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;345000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195635 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79784951 |
| **LATVIA — 0.2%** | **LATVIA — 0.2%** | **LATVIA — 0.2%** |  |
| Latvia Government International Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 1.13%, 5/30/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170474 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3.50%, 1/17/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239353 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 3.88%, 3/25/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239306 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649133 |
| **LITHUANIA — 0.1%** | **LITHUANIA — 0.1%** | **LITHUANIA — 0.1%** |  |
| Lithuania Government International Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 0.95%, 5/26/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143995 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series EMTN, 4.13%, 4/25/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303874 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447869 |
| **LUXEMBOURG — 0.1%** | **LUXEMBOURG — 0.1%** | **LUXEMBOURG — 0.1%** |  |
| State of the Grand-Duchy of Luxembourg 0.63%, 2/1/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470839 |
| **MALAYSIA — 2.4%** | **MALAYSIA — 2.4%** | **MALAYSIA — 2.4%** |  |
| Malaysia Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 5/31/2027<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314102 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.52%, 4/20/2028<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824613 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.73%, 6/15/2028<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101753 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.90%, 11/16/2027<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886276 |
| Malaysia Government Investment Issue: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.42%, 9/30/2027<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;948921 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.60%, 7/31/2028<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066320 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.90%, 6/15/2027<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281971 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.26%, 7/26/2027<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370234 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.37%, 10/31/2028<br>| MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1428115 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8222305 |
| **MEXICO — 2.2%** | **MEXICO — 2.2%** | **MEXICO — 2.2%** |  |
| Mexico Bonos: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 3/4/2027<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;32150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1747042 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 6/3/2027<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;53300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2960574 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 3/2/2028<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;51600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2902308 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7609924 |
| **NETHERLANDS — 3.3%** | **NETHERLANDS — 3.3%** | **NETHERLANDS — 3.3%** |  |
| Netherlands Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1772445 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 7/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2458000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2830130 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 7/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3283866 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG SHORT TERM INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 1/15/2028<br>| EUR | &nbsp;&nbsp;2760000 | &nbsp;&nbsp;$3455292 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11341733 |
| **NEW ZEALAND — 0.8%** | **NEW ZEALAND — 0.8%** | **NEW ZEALAND — 0.8%** |  |
| New Zealand Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 5/15/2028<br>| NZD | &nbsp;&nbsp;1920000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031984 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 4/15/2027<br>| NZD | &nbsp;&nbsp;3123000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835795 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2867779 |
| **NORWAY — 0.4%** | **NORWAY — 0.4%** | **NORWAY — 0.4%** |  |
| Norway Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 2/17/2027<br>| NOK | &nbsp;&nbsp;8450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817658 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 4/26/2028<br>| NOK | &nbsp;&nbsp;7625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724543 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542201 |
| **PERU — 0.1%** | **PERU — 0.1%** | **PERU — 0.1%** |  |
| Peru Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.35%, 8/12/2028<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78246 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.20%, 8/12/2026<br>| PEN | &nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114242 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192488 |
| **POLAND — 2.6%** | **POLAND — 2.6%** | **POLAND — 2.6%** |  |
| Republic of Poland Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/25/2027<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;2260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606161 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/25/2028<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;3850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991503 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/25/2027<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;6103000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1668532 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 4/25/2028<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;5925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610534 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 5/25/2027<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;3975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1107787 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 7/25/2028<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;9900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2990029 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8974546 |
| **PORTUGAL — 1.6%** | **PORTUGAL — 1.6%** | **PORTUGAL — 1.6%** |  |
| Portugal Obrigacoes do Tesouro OT: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 10/15/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762431 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 10/17/2028<br>| EUR | &nbsp;&nbsp;2350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2758052 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 4/14/2027<br>| EUR | &nbsp;&nbsp;1685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030342 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5550825 |
| **ROMANIA — 1.0%** | **ROMANIA — 1.0%** | **ROMANIA — 1.0%** |  |
| Romania Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/25/2027<br>| RON | &nbsp;&nbsp;2025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437103 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.15%, 1/26/2028<br>| RON | &nbsp;&nbsp;3045000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671778 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.80%, 7/26/2027<br>| RON | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571723 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.30%, 4/26/2028<br>| RON | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229132 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.20%, 5/31/2027<br>| RON | &nbsp;&nbsp;3745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872994 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.75%, 10/30/2028<br>| RON | &nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534649 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3317379 |
| **SINGAPORE — 1.2%** | **SINGAPORE — 1.2%** | **SINGAPORE — 1.2%** |  |
| Singapore Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 5/1/2028<br>| SGD | &nbsp;&nbsp;1105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880214 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 9/1/2027<br>| SGD | &nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834954 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 8/1/2028<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755000 | &nbsp;&nbsp;$606150 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 3/1/2027<br>| SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1689897 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4011215 |
| **SLOVAKIA — 0.5%** | **SLOVAKIA — 0.5%** | **SLOVAKIA — 0.5%** |  |
| Slovakia Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 6/17/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289367 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 6/12/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510374 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 1/21/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436486 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 2/7/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446418 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1682645 |
| **SLOVENIA — 0.3%** | **SLOVENIA — 0.3%** | **SLOVENIA — 0.3%** |  |
| Slovenia Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 3/6/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459376 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 3/22/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465753 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925129 |
| **SOUTH KOREA — 4.6%** | **SOUTH KOREA — 4.6%** | **SOUTH KOREA — 4.6%** |  |
| Korea Treasury Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 6/10/2027<br>| KRW | &nbsp;&nbsp;1276000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878082 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 9/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;885000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608890 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/10/2028<br>| KRW | &nbsp;&nbsp;3830000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2613274 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 3/10/2027<br>| KRW | &nbsp;&nbsp;2609000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805422 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 12/10/2027<br>| KRW | &nbsp;&nbsp;1220000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839384 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 3/10/2027<br>| KRW | &nbsp;&nbsp;1971000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367862 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 6/10/2028<br>| KRW | &nbsp;&nbsp;1360000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936184 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 12/10/2028<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;810000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558989 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 12/10/2027<br>| KRW | &nbsp;&nbsp;1748000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213962 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 9/10/2027<br>| KRW | &nbsp;&nbsp;1377000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960994 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 6/10/2027<br>| KRW | &nbsp;&nbsp;1770000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1237259 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 3/10/2028<br>| KRW | &nbsp;&nbsp;1824000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275631 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 9/10/2028<br>| KRW | &nbsp;&nbsp;1765000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240447 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 3/10/2027<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;275000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196613 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 3/10/2028<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366034 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16099027 |
| **SPAIN — 4.6%** | **SPAIN — 4.6%** | **SPAIN — 4.6%** |  |
| Spain Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/31/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1042558 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/31/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735235 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.80%, 7/30/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1479877 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 4/30/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1764709 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 7/30/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1827340 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.45%, 10/31/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1594476 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 4/30/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666405 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 5/31/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1708198 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 5/31/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1353000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596532 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.15%, 10/31/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1454345 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15869675 |
| **SWEDEN — 0.4%** | **SWEDEN — 0.4%** | **SWEDEN — 0.4%** |  |
| Sweden Government Bonds 0.75%, 5/12/2028<br>| &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1316932 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG SHORT TERM INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SWITZERLAND — 0.5%** | **SWITZERLAND — 0.5%** | **SWITZERLAND — 0.5%** |  |
| Swiss Confederation Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 6/27/2027<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;$52968 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/8/2028<br>| CHF | &nbsp;&nbsp;&nbsp;&nbsp;1240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1707796 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1760764 |
| **THAILAND — 2.3%** | **THAILAND — 2.3%** | **THAILAND — 2.3%** |  |
| Thailand Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 6/17/2027<br>| THB | &nbsp;&nbsp;58600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1856725 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.05%, 4/17/2028<br>| THB | &nbsp;&nbsp;49500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603754 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 3/17/2027<br>| THB | &nbsp;&nbsp;42650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372048 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 11/17/2027<br>| THB | &nbsp;&nbsp;32200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046821 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.65%, 6/17/2028<br>| THB | &nbsp;&nbsp;54800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801155 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 12/17/2028<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199893 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.58%, 12/17/2027<br>| THB | &nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182946 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8063342 |
| **UNITED KINGDOM — 4.6%** | **UNITED KINGDOM — 4.6%** | **UNITED KINGDOM — 4.6%** |  |
| U.K. Gilts: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 1/31/2028<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1630989 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 7/22/2027<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074043 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 10/22/2028<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;1325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685863 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 3/7/2027<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;1355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1822747 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 1/29/2027<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1251977 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/7/2027<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190355 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 3/7/2028<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;2410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3282611 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 6/7/2028<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;2150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2941357 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15879942 |
| **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $344,182,316)<br>** | **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $344,182,316)<br>** | **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $344,182,316)<br>** | &nbsp;&nbsp;&nbsp;345194753 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENT — 0.1%** | **SHORT-TERM INVESTMENT — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (a) (b)<br>(Cost $467,506) | 467506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467506 |
| **TOTAL INVESTMENTS — 99.3%<br>(Cost $344,649,822)<br>** | **TOTAL INVESTMENTS — 99.3%<br>(Cost $344,649,822)<br>** | &nbsp;&nbsp;&nbsp;345662259 |
| **OTHER ASSETS IN EXCESS OF<br>LIABILITIES — 0.7% <br>** | **OTHER ASSETS IN EXCESS OF<br>LIABILITIES — 0.7% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2431067 |
| **NET ASSETS — 100.0% <br>** | **NET ASSETS — 100.0% <br>** | $348093326 |

---

&nbsp;&nbsp;&nbsp;&nbsp;

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

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

---

| | |
|:---|:---|
| Abbreviations: |  |
| EMTN | Euro Medium Term Note |
| GMTN | Global Medium Term Note |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| CNY | China Yuan Renminbi |
| CZK | Czech Koruna |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| HKD | Hong Kong Dollar |
| HUF | Hungary Forint |
| IDR | Indonesia Rupiah |
| ILS | Israeli New Shekel |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peru Nuevo Sol |
| PLN | Polish Zloty |
| RON | Romania New Leu |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Baht |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR BLOOMBERG SHORT TERM INTERNATIONAL TREASURY BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of December 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:** |  |  |  |  |
| Foreign Government Obligations<br>| $— | $345194753 | $— | $345194753 |
| Short-Term Investment<br>| &nbsp;&nbsp;467506 | &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;467506 |
| **TOTAL INVESTMENTS<br>**  | $467506 | $345194753 | $— | $345662259 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 12/31/24** | **Value at<br>12/31/24** | **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> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 58364 | $58364 | $279328390 | $278919248 | $— | $— | 467506 | $467506 | $80676 |
| State Street Navigator Securities Lending Portfolio II<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613894 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;250 |
| Total<br>|  | $58364 | $279942284 | $279533142 | $— | $— |  | $467506 | $80926 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR FTSE INTERNATIONAL GOVERNMENT INFLATION-PROTECTED BOND ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS — 98.4%** | **FOREIGN GOVERNMENT OBLIGATIONS — 98.4%** | **FOREIGN GOVERNMENT OBLIGATIONS — 98.4%** |  |
| **AUSTRALIA — 4.6%** | **AUSTRALIA — 4.6%** | **AUSTRALIA — 4.6%** |  |
| Australia Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 11/21/2032<br>| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3864974 | &nbsp;&nbsp;$2256921 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 11/21/2027<br>| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4810028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3177265 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 2/21/2050<br>| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3191745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403414 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 8/21/2040<br>| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3997256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190804 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 8/21/2035<br>| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4858140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3112109 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/20/2030<br>| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5716828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3919096 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16059609 |
| **BRAZIL — 7.2%** | **BRAZIL — 7.2%** | **BRAZIL — 7.2%** |  |
| Brazil Notas do Tesouro Nacional: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 5/15/2027<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10392539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1842883 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 8/15/2028<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16710470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2917443 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 5/15/2029<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8011869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390922 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 8/15/2030<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18724883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3208009 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 8/15/2032<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8011869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1346359 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 5/15/2033<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6409495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1069438 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 5/15/2035<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16939380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2826516 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 8/15/2040<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9957609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1625786 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 5/15/2045<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14833403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397045 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 8/15/2050<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9660025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540967 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 5/15/2055<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13459940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139238 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 8/15/2060<br>| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19915218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3125914 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25430520 |
| **CANADA — 4.3%** | **CANADA — 4.3%** | **CANADA — 4.3%** |  |
| Canada Government Real Return Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 12/1/2054<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4112350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939487 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 12/1/2050<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2905994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540161 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 12/1/2047<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3423969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2219616 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 12/1/2044<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3481612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2409380 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/1/2041<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2377840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1793662 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/1/2036<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2832578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2351014 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/1/2031<br>| CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3306377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2785678 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15038998 |
| **CHILE — 4.6%** | **CHILE — 4.6%** | **CHILE — 4.6%** |  |
| Bonos de la Tesoreria de la Republica: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 10/1/2028<br>| CLP | &nbsp;&nbsp;2562453420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2682453 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 10/1/2033<br>| CLP | &nbsp;&nbsp;&nbsp;&nbsp;893879100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831765 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 9/1/2030<br>| CLP | &nbsp;&nbsp;2383677600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2601935 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/1/2035<br>| CLP | &nbsp;&nbsp;1946670040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2101010 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.10%, 7/15/2050<br>| CLP | &nbsp;&nbsp;1827486160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1937498 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.80%, 11/1/2055<br>| CLP | &nbsp;&nbsp;1072654920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281266 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 1/1/2044<br>| CLP | &nbsp;&nbsp;2840549140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3475480 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 10/1/2039<br>| CLP | &nbsp;&nbsp;1072654920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328818 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16240225 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLOMBIA — 4.4%** | **COLOMBIA — 4.4%** | **COLOMBIA — 4.4%** |  |
| Colombia TES: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 4/18/2029<br>| COP | &nbsp;&nbsp;&nbsp;&nbsp;7028277545 | &nbsp;&nbsp;$1648369 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 3/25/2033<br>| COP | &nbsp;&nbsp;&nbsp;&nbsp;5956840500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269814 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.30%, 3/17/2027<br>| COP | &nbsp;&nbsp;&nbsp;&nbsp;7851115779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2016531 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 2/25/2037<br>| COP | &nbsp;&nbsp;19061889600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3944222 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 6/16/2049<br>| COP | &nbsp;&nbsp;10147676353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1832687 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 4/4/2035<br>| COP | &nbsp;&nbsp;10631371802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2514299 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 3/20/2041<br>| COP | &nbsp;&nbsp;&nbsp;&nbsp;3574104300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825183 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 5/19/2055<br>| COP | &nbsp;&nbsp;&nbsp;&nbsp;3574104300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796686 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 2/1/2062<br>| COP | &nbsp;&nbsp;&nbsp;&nbsp;3177124800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818186 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15665977 |
| **FRANCE — 8.1%** | **FRANCE — 8.1%** | **FRANCE — 8.1%** |  |
| French Republic Government Bonds OAT: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/1/2026<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/1/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1903043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2183177 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/1/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2692802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3085713 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 7/25/2031<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518251 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/1/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;948299 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/1/2036<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1184062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160892 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 7/25/2036<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1780079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1766987 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 7/25/2038<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832775 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 7/25/2047<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896632 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 7/25/2053<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841185 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.55%, 3/1/2039<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619315 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.60%, 7/25/2034<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593106 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 7/25/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802087 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.95%, 7/25/2043<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390672 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 7/25/2040<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1768825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040004 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.85%, 7/25/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2968834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3558575 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 7/25/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2659625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3502491 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 7/25/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1905632 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28645864 |
| **GERMANY — 4.5%** | **GERMANY — 4.5%** | **GERMANY — 4.5%** |  |
| Deutsche Bundesrepublik Bonds Inflation-Linked: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 4/15/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3486571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3861770 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 4/15/2046<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4776487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4318160 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 4/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6673303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7746236 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15926166 |
| **ISRAEL — 4.5%** | **ISRAEL — 4.5%** | **ISRAEL — 4.5%** |  |
| Israel Government Bonds CPI-Linked: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 7/31/2026<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249106 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 11/30/2031<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9150157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2613810 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 5/31/2029<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9091124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2738820 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 11/30/2051<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7902564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698806 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 5/31/2027<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6504935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008089 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 5/31/2045<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5533754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1464828 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.10%, 10/31/2028<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6513676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2006672 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 10/31/2033<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524699 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 8/30/2041<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5431712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1897485 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR FTSE INTERNATIONAL GOVERNMENT INFLATION-PROTECTED BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 5/30/2036<br>| &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195877 | &nbsp;&nbsp;$830077 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16032392 |
| **ITALY — 5.5%** | **ITALY — 5.5%** | **ITALY — 5.5%** |  |
| Italy Buoni Poliennali Del Tesoro: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 5/15/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2734907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2904435 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.15%, 5/15/2051<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558406 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.40%, 5/15/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077040 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 9/15/2032<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1744806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2047473 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.30%, 5/15/2028<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823060 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 5/15/2029<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1688372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2015931 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.80%, 5/15/2036<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858533 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.35%, 9/15/2035<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2744066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3456839 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.40%, 5/15/2039<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018291 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.55%, 9/15/2041<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2673647 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.10%, 9/15/2026<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825454 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19259109 |
| **JAPAN — 4.5%** | **JAPAN — 4.5%** | **JAPAN — 4.5%** |  |
| Japan Government CPI-Linked Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 3/10/2032<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;247241540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1593566 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 3/10/2033<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;497361904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3155376 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 3/10/2034<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;355390100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2228982 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 3/10/2035<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;209253750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1306130 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/10/2027<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;261693868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1697827 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/10/2028<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;424120455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2755866 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.10%, 3/10/2029<br>| &nbsp;&nbsp;JPY | &nbsp;&nbsp;488853615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3173397 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15911144 |
| **MEXICO — 5.2%** | **MEXICO — 5.2%** | **MEXICO — 5.2%** |  |
| Mexico Udibonos: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 11/27/2031<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;48784326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2453963 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/12/2043<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;19063851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889143 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/30/2028<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;34054971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1884478 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 8/30/2029<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;11265003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620781 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 8/24/2034<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;30762124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635173 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/2040<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;25138288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322523 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/8/2046<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;42027127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2201413 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/3/2050<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;59357901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3110335 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/29/2054<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;25129622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1310552 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/22/2035<br>| MXN | &nbsp;&nbsp;&nbsp;&nbsp;51905668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2870971 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18299332 |
| **NEW ZEALAND — 3.0%** | **NEW ZEALAND — 3.0%** | **NEW ZEALAND — 3.0%** |  |
| New Zealand Government Bonds Inflation-Linked: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/20/2035<br>| NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7778394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4470762 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/20/2040<br>| NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3701307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024644 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 9/20/2030<br>| NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4894334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2979922 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 9/20/2050<br>| NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002748 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10478076 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **POLAND — 1.4%** | **POLAND — 1.4%** | **POLAND — 1.4%** |  |
| Republic of Poland Government Bonds 2.00%, 8/25/2036<br>| &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19437313 | &nbsp;&nbsp;$4913255 |
| **SOUTH AFRICA — 4.6%** | **SOUTH AFRICA — 4.6%** | **SOUTH AFRICA — 4.6%** |  |
| Republic of South Africa Government Bond CPI-Linked: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 3/31/2029<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22956966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289801 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 2/28/2033<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27751726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1437076 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 1/31/2038<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43892547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2156426 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 3/31/2046<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52630286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2439228 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 12/31/2050<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62840569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2798036 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 3/31/2028<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15897083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924889 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 12/7/2033<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46912967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2683627 |
| Republic of South Africa Government Bonds CPI-Linked: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 1/31/2031<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7615422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459718 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.13%, 1/31/2043<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20129416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355310 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.13%, 1/31/2058<br>| &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7110935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500345 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16044456 |
| **SOUTH KOREA — 0.7%** | **SOUTH KOREA — 0.7%** | **SOUTH KOREA — 0.7%** |  |
| Korea Treasury Bonds Inflation-Linked: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 6/10/2034<br>| KRW | &nbsp;&nbsp;&nbsp;&nbsp;772725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527300 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 6/10/2032<br>| KRW | &nbsp;&nbsp;1503099201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120207 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 6/10/2028<br>| KRW | &nbsp;&nbsp;1377848000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993166 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640673 |
| **SPAIN — 4.6%** | **SPAIN — 4.6%** | **SPAIN — 4.6%** |  |
| Spain Government Bonds Inflation-Linked: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.65%, 11/30/2027<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3893917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4577327 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.70%, 11/30/2033<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4652633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5234880 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.00%, 11/30/2030<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3056320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3604324 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.15%, 11/30/2036<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950542 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.05%, 11/30/2039<br>| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801672 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16168745 |
| **SWEDEN — 3.8%** | **SWEDEN — 3.8%** | **SWEDEN — 3.8%** |  |
| Sweden Bonds Inflation-Linked: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 6/1/2026<br>| &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6722383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722368 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 12/1/2027<br>| &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23562502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2485825 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 6/1/2030<br>| &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24583380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550330 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 6/1/2032<br>| &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24113066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2494299 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 6/1/2039<br>| &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10319450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963726 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 12/1/2028<br>| &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35712038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4128458 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13345006 |
| **TURKEY — 4.5%** | **TURKEY — 4.5%** | **TURKEY — 4.5%** |  |
| Turkiye Government Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 9/7/2033<br>| &nbsp;&nbsp;TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20468602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345504 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 7/19/2028<br>| &nbsp;&nbsp;TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12815445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250770 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR FTSE INTERNATIONAL GOVERNMENT INFLATION-PROTECTED BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 2/11/2032<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;40722080 | &nbsp;&nbsp;$723546 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 8/4/2032<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;36107296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628121 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.01%, 1/12/2033<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;18680650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317385 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 1/14/2026<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;49695166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1153940 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.90%, 7/7/2027<br>| TRY | &nbsp;&nbsp;129095718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2828363 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.90%, 1/12/2028<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;96390610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2064398 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 8/18/2027<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;40933936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894384 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 5/28/2031<br>| TRY | &nbsp;&nbsp;212088055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4570575 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.30%, 6/28/2028<br>| TRY | &nbsp;&nbsp;&nbsp;&nbsp;89869411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1923311 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15700297 |
| **UNITED KINGDOM — 18.4%** | **UNITED KINGDOM — 18.4%** | **UNITED KINGDOM — 18.4%** |  |
| U.K. Inflation-Linked Gilts: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 3/22/2026<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 8/10/2028<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2612782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3467265 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 3/22/2029<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2796705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3677724 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 8/10/2031<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2767943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543571 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 11/22/2036<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1911313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2176298 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 3/22/2039<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1853334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980550 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 8/10/2041<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2444685 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 3/22/2044<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2562549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2433543 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 3/22/2046<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219363 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 8/10/2048<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405412 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 3/22/2051<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1720258 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 11/22/2056<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830442 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 11/22/2065<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942609 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 3/22/2068<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2235004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485997 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.13%, 3/22/2073<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638905 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 3/22/2052<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2019540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710155 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.38%, 3/22/2062<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637140 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.50%, 3/22/2050<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1813446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698009 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.63%, 3/22/2040<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3010192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3395500 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.63%, 11/22/2042<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2035264 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.63%, 3/22/2045<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1915382 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 11/22/2033<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2675612 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 3/22/2034<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3102407 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.75%, 11/22/2047<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1648347 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 9/22/2035<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1594490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2051589 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 11/22/2037<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941686 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 11/22/2027<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2674202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3632932 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 11/22/2032<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600425 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 11/22/2054<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1431093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1574946 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.25%, 11/22/2055<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275692 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 9/22/2038<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817160 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 9/22/2049<br>| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435553 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 1/26/2035<br>| GBP | &nbsp;&nbsp;1524800 | &nbsp;&nbsp;$2109547 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 7/22/2030<br>| GBP | &nbsp;&nbsp;1028871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1575454 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64799446 |
| **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $386,405,154)<br>** | **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $386,405,154)<br>** | **TOTAL FOREIGN GOVERNMENT OBLIGATIONS<br>(Cost $386,405,154)<br>** | &nbsp;&nbsp;&nbsp;346599290 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENT — 0.4%** | **SHORT-TERM INVESTMENT — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (a) (b)<br>(Cost $1,363,326) | 1363326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363326 |
| **TOTAL INVESTMENTS — 98.8%<br>(Cost $387,768,480)<br>** | **TOTAL INVESTMENTS — 98.8%<br>(Cost $387,768,480)<br>** | &nbsp;&nbsp;&nbsp;347962616 |
| **OTHER ASSETS IN EXCESS OF<br>LIABILITIES — 1.2% <br>** | **OTHER ASSETS IN EXCESS OF<br>LIABILITIES — 1.2% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4128733 |
| **NET ASSETS — 100.0% <br>** | **NET ASSETS — 100.0% <br>** | $352091349 |

---

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

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

---

| | |
|:---|:---|
| Abbreviations: |  |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CLP | Chilean Peso |
| COP | Colombian Peso |
| EUR | Euro |
| GBP | British Pound |
| ILS | Israeli New Shekel |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| MXN | Mexican Peso |
| NZD | New Zealand Dollar |
| PLN | Polish Zloty |
| SEK | Swedish Krona |
| TRY | Turkish New Lira |
| ZAR | South African Rand |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR FTSE INTERNATIONAL GOVERNMENT INFLATION-PROTECTED BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of December 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:** |  |  |  |  |
| Foreign Government Obligations<br>| $— | $346599290 | $— | $346599290 |
| Short-Term Investment<br>| &nbsp;&nbsp;1363326 | &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;1363326 |
| **TOTAL INVESTMENTS<br>**  | $1363326 | $346599290 | $— | $347962616 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 12/31/24** | **Value at<br>12/31/24** | **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> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 123691 | $123691 | $86716414 | $85476779 | $— | $— | 1363326 | $1363326 | $24157 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### STATE STREET SPDR S&P LEVERAGED LOAN ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 1.6%** |  |  |
| **NETHERLANDS — 0.3%** | **NETHERLANDS — 0.3%** | **NETHERLANDS — 0.3%** |
| Ziggo BV<br>4.88%, 1/15/2030 (a)<br>| &nbsp;&nbsp;$200000 | &nbsp;&nbsp;$189016 |
| **UNITED STATES — 1.3%** | **UNITED STATES — 1.3%** | **UNITED STATES — 1.3%** |
| Connect Holding II LLC<br>10.50%, 4/3/2031 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95009 |
| Directv Financing LLC<br>8.88%, 2/1/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101335 |
| Gray Media, Inc.<br>10.50%, 7/15/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96880 |
| JetBlue Airways Corp./JetBlue Loyalty LP<br>9.88%, 9/20/2031 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100726 |
| Magnera Corp.<br>4.75%, 11/15/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92527 |
| Rand Parent LLC<br>8.50%, 2/15/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156378 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642855 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $826,840)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831871 |
| **SENIOR FLOATING RATE LOANS — 99.7%** |  |  |
| **ADVERTISING SERVICES — 2.3%** | **ADVERTISING SERVICES — 2.3%** | **ADVERTISING SERVICES — 2.3%** |
| Neptune Bidco U.S., Inc.: |  |  |
| 2022 USD Term Loan A, 3 mo. USD Term SOFR + 4.75%, 8.76%, 10/11/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247288 |
| 2022 USD Term Loan B, 3 mo. USD Term SOFR + 5.00%, 9.03%, 4/11/2029 (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;495562 |
| Wasserman Media Group LLC, Repriced Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401500 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144350 |
| **AEROSPACE & DEFENSE — 0.5%** | **AEROSPACE & DEFENSE — 0.5%** | **AEROSPACE & DEFENSE — 0.5%** |
| TransDigm, Inc., 2023 Term Loan J, 1 mo. USD Term SOFR + 2.50%, 6.22%, 2/28/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250585 |
| **AIRLINES — 0.5%** | **AIRLINES — 0.5%** | **AIRLINES — 0.5%** |
| American Airlines, Inc., 2025 Term Loan, 3 mo. USD Term SOFR + 2.25%, 6.13%, 4/20/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250906 |
| **APPAREL — 0.5%** | **APPAREL — 0.5%** | **APPAREL — 0.5%** |
| Beach Acquisition Bidco LLC, USD Term Loan B, 3 mo. USD Term SOFR + 3.25%, 6.92%, 9/12/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252345 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **AUTO PARTS & EQUIPMENT — 1.5%** | **AUTO PARTS & EQUIPMENT — 1.5%** | **AUTO PARTS & EQUIPMENT — 1.5%** |
| Clarios Global LP, 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.75%, 6.47%, 1/28/2032 (b)<br>| &nbsp;&nbsp;$498750 | &nbsp;&nbsp;$501944 |
| Tenneco, Inc., 2022 Term Loan A, 3 mo. USD Term SOFR + 4.75%, 8.74%, 11/17/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244979 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746923 |
| **BIOTECHNOLOGY — 1.0%** | **BIOTECHNOLOGY — 1.0%** | **BIOTECHNOLOGY — 1.0%** |
| Genmab AS, Term Loan B, 3 mo. USD Term SOFR + 3.00%, 6.73%, 12/13/2032 (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;502970 |
| **BUILDING MATERIALS — 1.5%** | **BUILDING MATERIALS — 1.5%** | **BUILDING MATERIALS — 1.5%** |
| Chamberlain Group, Inc., 2025 Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500358 |
| Smyrna Ready Mix Concrete LLC, 2025 Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251242 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751600 |
| **CHEMICALS — 4.9%** | **CHEMICALS — 4.9%** | **CHEMICALS — 4.9%** |
| AAP Buyer, Inc., Term Loan B, 1 mo. USD Term SOFR + 2.75%, 6.47%, 9/9/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250696 |
| Axalta Coating Systems U.S. Holdings, Inc., 2024 Term Loan B7 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220492 |
| Discovery Purchaser Corp., Term Loan, 3 mo. USD Term SOFR + 3.75%, 7.61%, 10/4/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240247 |
| Element Solutions, Inc., 2025 Add-on Term Loan B (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;503645 |
| Hexion Holdings Corp., 2024 Term Loan B, 1 mo. USD Term SOFR + 4.00%, 7.73%, 3/15/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218752 |
| Nouryon Finance BV, 2024 USD Term Loan B1, 6 mo. USD Term SOFR + 3.25%, 7.04%, 4/3/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499768 |
| Paint Intermediate III LLC, 2024 Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251009 |
| SCIH Salt Holdings, Inc., 2025 Repriced Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250795 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2435404 |
| **COMMERCIAL SERVICES — 6.2%** | **COMMERCIAL SERVICES — 6.2%** | **COMMERCIAL SERVICES — 6.2%** |
| Albion Financing 3 SARL, 2025 USD Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502876 |
| Allied Universal Holdco LLC, 2025 USD Term Loan B, 1 mo. USD Term SOFR + 3.25%, 6.97%, 8/20/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250972 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### STATE STREET SPDR S&P LEVERAGED LOAN ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Ensemble RCM LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 3.00%, 6.84%, 8/1/2029 (b)<br>| &nbsp;&nbsp;$498731 | &nbsp;&nbsp;$501758 |
| Garda World Security Corp., 2025 Term Loan B, 1 mo. USD Term SOFR + 3.00%, 6.75%, 2/1/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251375 |
| Hertz Corp.: |  |  |
| 2021 Term Loan B, 1 mo. USD Term SOFR + 3.50%, 7.33%, 6/30/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175527 |
| 2021 Term Loan C, 1 mo. USD Term SOFR + 3.50%, 7.33%, 6/30/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34639 |
| Parexel International Corp., 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 2.75%, 6.47% (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199227 |
| PG Investment Co. 59 SARL, 2025 Repriced Term Loan B, 3 mo. USD Term SOFR + 2.25%, 5.92%, 3/26/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251153 |
| Prime Security Services Borrower LLC, 2025 Incremental Term Loan B 9.08% (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498088 |
| Pye-Barker Fire & Safety LLC, 2025 Term Loan, 3 mo. USD Term SOFR + 2.50%, 6.21%, 12/16/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438217 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3103832 |
| **COMMUNICATIONS EQUIPMENT — 0.5%** | **COMMUNICATIONS EQUIPMENT — 0.5%** | **COMMUNICATIONS EQUIPMENT — 0.5%** |
| CommScope, Inc., 2024 Term Loan, 1 mo. USD Term SOFR + 4.75%, 8.47%, 12/17/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250795 |
| **COMPUTERS — 4.1%** | **COMPUTERS — 4.1%** | **COMPUTERS — 4.1%** |
| Amentum Government Services Holdings LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 2.00%, 5.72%, 9/29/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250231 |
| McAfee LLC, 2024 USD 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.00%, 6.72%, 3/1/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461901 |
| Sandisk Corp., Term Loan B, 3 mo. USD Term SOFR + 3.00%, 6.86%, 2/20/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116942 |
| Verifone Systems, Inc., 2025 Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237465 |
| X Corp.: |  |  |
| 2025 Fixed Term Loan 9.50%, 10/26/2029 (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;499195 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Term Loan, 3 mo. USD Term SOFR + 6.50%, 10.45%, 10/26/2029 (b)<br>| &nbsp;&nbsp;$498715 | &nbsp;&nbsp;$491057 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2056791 |
| **CONSTRUCTION & ENGINEERING — 2.5%** | **CONSTRUCTION & ENGINEERING — 2.5%** | **CONSTRUCTION & ENGINEERING — 2.5%** |
| DG Investment Intermediate Holdings 2, Inc., 2025 Term Loan, 1 mo. USD Term SOFR + 3.75%, 7.47%, 7/9/2032 (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;752813 |
| Tecta America Corp., 2025 Repriced Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501278 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254091 |
| **CONTAINERS & PACKAGING — 4.4%** | **CONTAINERS & PACKAGING — 4.4%** | **CONTAINERS & PACKAGING — 4.4%** |
| Berlin Packaging LLC, 2025 Term Loan B7, 3 mo. USD Term SOFR + 3.25%, 7.24%, 6/7/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250233 |
| BradyPlus Holdings LLC, 2025 Term Loan B (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;495520 |
| Clydesdale Acquisition Holdings, Inc.: |  |  |
| 2025 Delayed Draw Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435 |
| 2025 Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498742 |
| Pregis TopCo Corp., 2025 Refinancing Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251755 |
| Proampac PG Borrower LLC, 2024 Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250195 |
| Trident TPI Holdings, Inc., 2024 Term Loan B7, 3 mo. USD Term SOFR + 3.75%, 7.42%, 9/15/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480292 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2228172 |
| **DISTRIBUTION/WHOLESALE — 1.5%** | **DISTRIBUTION/WHOLESALE — 1.5%** | **DISTRIBUTION/WHOLESALE — 1.5%** |
| Dealer Tire Financial LLC, 2024 Term Loan B4, 1 mo. USD Term SOFR + 3.00%, 6.72%, 7/2/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249993 |
| Fluid-Flow Products, Inc., 2025 Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250643 |
| Windsor Holdings III LLC, 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.75%, 6.47%, 8/1/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250267 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750903 |
| **DIVERSIFIED FINAN SERV — 2.2%** | **DIVERSIFIED FINAN SERV — 2.2%** | **DIVERSIFIED FINAN SERV — 2.2%** |
| Blackhawk Network Holdings, Inc., 2025 Term Loan B, 3 mo. USD Term SOFR + 4.00%, 7.67%, 3/12/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501740 |
| IMC Financing LLC, Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353283 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### STATE STREET SPDR S&P LEVERAGED LOAN ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Mariner Wealth Advisors LLC, 2025 Repriced Term Loan B (c)<br>| &nbsp;&nbsp;$249375 | &nbsp;&nbsp;$251106 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1106129 |
| **DIVERSIFIED FINANCIAL SERVICES — 2.4%** | **DIVERSIFIED FINANCIAL SERVICES — 2.4%** | **DIVERSIFIED FINANCIAL SERVICES — 2.4%** |
| Advisor Group, Inc., 2025 Term Loan, 6 mo. USD Term SOFR + 3.00%, 6.60%, 7/30/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251335 |
| Apex Group Treasury LLC, 2025 USD Term Loan B, 3 mo. USD Term SOFR + 3.50%, 7.39%, 2/27/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471313 |
| Jane Street Group LLC, 2024 Term Loan B1, 3 mo. USD Term SOFR + 2.00%, 5.82%, 12/15/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496972 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219620 |
| **DIVERSIFIED TELECOMMUNICATION SERVICES — 1.9%** | **DIVERSIFIED TELECOMMUNICATION SERVICES — 1.9%** | **DIVERSIFIED TELECOMMUNICATION SERVICES — 1.9%** |
| Connect Finco SARL, 2024 Extended Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249331 |
| Crown Subsea Communications Holding, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 3.50%, 7.22%, 1/30/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252250 |
| Zayo Group Holdings, Inc., 2025 USD Term Loan, 1 mo. USD Term SOFR + 0.50%, 0.50%, 3/11/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476313 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977894 |
| **ELECTRIC — 1.9%** | **ELECTRIC — 1.9%** | **ELECTRIC — 1.9%** |
| Cornerstone Generation LLC, Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252070 |
| Forgent Intermediate IV LLC, Term Loan, 3 mo. USD Term SOFR + 3.25%, 6.96%, 12/20/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248750 |
| MRP Buyer LLC: |  |  |
| Delayed Draw Term Loan 3.25%, 6/4/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33756 |
| Term Loan, 3 mo. USD Term SOFR + 3.25%, 6.92%, 6/4/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439951 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974527 |
| **ELECTRONICS — 0.5%** | **ELECTRONICS — 0.5%** | **ELECTRONICS — 0.5%** |
| LSF12 Crown U.S. Commercial Bidco LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.50%, 7.37%, 12/2/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245316 |
| **ENTERTAINMENT — 1.5%** | **ENTERTAINMENT — 1.5%** | **ENTERTAINMENT — 1.5%** |
| Caesars Entertainment, Inc., 2024 Term Loan B1, 1 mo. USD Term SOFR + 2.25%, 5.97%, 2/6/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247495 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Crown Finance U.S., Inc., 2025 Term Loan B (c)<br>| &nbsp;&nbsp;$249373 | &nbsp;&nbsp;$246412 |
| EOC Borrower LLC, Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251119 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745026 |
| **ENVIRONMENTAL CONTROL — 1.0%** | **ENVIRONMENTAL CONTROL — 1.0%** | **ENVIRONMENTAL CONTROL — 1.0%** |
| Filtration Group Corp., 2025 USD Term Loan, 1 mo. USD Term SOFR + 2.75%, 6.47%, 10/21/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240989 |
| Madison IAQ LLC, Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250835 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491824 |
| **FOOD PRODUCTS — 2.0%** | **FOOD PRODUCTS — 2.0%** | **FOOD PRODUCTS — 2.0%** |
| Aramark Services, Inc., 2025 Term Loan, 1 mo. USD Term SOFR + 1.75%, 5.47%, 6/22/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499692 |
| Savor Acquisition, Inc.: |  |  |
| Delayed Draw Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43436 |
| Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458120 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001248 |
| **GROUND TRANSPORTATION — 2.5%** | **GROUND TRANSPORTATION — 2.5%** | **GROUND TRANSPORTATION — 2.5%** |
| First Student Bidco, Inc.: |  |  |
| 2025 Term Loan B, 3 mo. USD Term SOFR + 2.50%, 6.17%, 8/15/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212309 |
| 2025 Term Loan C, 3 mo. USD Term SOFR + 2.50%, 6.17%, 8/15/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38822 |
| Genesee & Wyoming, Inc., 2024 Term Loan, 3 mo. USD Term SOFR + 1.75%, 5.42%, 4/10/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249639 |
| PODS LLC, 2021 Term Loan B, 1 mo. USD Term SOFR + 3.00%, 6.83%, 3/31/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246904 |
| Student Transportation of America Holdings, Inc.: |  |  |
| 2025 Delayed Draw Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215333 |
| 2025 Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286241 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249248 |
| **HEALTH CARE EQUIPMENT & SUPPLIES — 1.1%** | **HEALTH CARE EQUIPMENT & SUPPLIES — 1.1%** | **HEALTH CARE EQUIPMENT & SUPPLIES — 1.1%** |
| Bausch & Lomb Corp., 2025 Term Loan B, 1 mo. USD Term SOFR + 4.25%, 7.97%, 1/15/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504607 |
| Medline Borrower LP, 2025 Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47730 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552337 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### STATE STREET SPDR S&P LEVERAGED LOAN ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **HEALTH CARE PROVIDERS & SERVICES — 4.5%** | **HEALTH CARE PROVIDERS & SERVICES — 4.5%** | **HEALTH CARE PROVIDERS & SERVICES — 4.5%** |
| Dermatology Intermediate Holdings III, Inc., 2022 Term Loan B, 3 mo. USD Term SOFR + 4.25%, 8.09%, 3/30/2029 (b)<br>| &nbsp;&nbsp;$249354 | &nbsp;&nbsp;$241302 |
| Heartland Dental LLC, 2025 Term Loan, 1 mo. USD Term SOFR + 3.75%, 7.47%, 8/25/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250710 |
| Lumexa Imaging, Inc., Term Loan B (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;504065 |
| Star Parent, Inc., Term Loan B, 3 mo. USD Term SOFR + 4.00%, 7.67%, 9/27/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499881 |
| U.S. Anesthesia Partners, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 4.00%, 7.99%, 10/1/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250849 |
| U.S. Fertility Enterprises LLC: |  |  |
| 2025 Delayed Draw Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66118 |
| 2025 Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436382 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2249307 |
| **HOLDING COMPANIES & DIVERSIFIED — 0.8%** | **HOLDING COMPANIES & DIVERSIFIED — 0.8%** | **HOLDING COMPANIES & DIVERSIFIED — 0.8%** |
| GC Ferry Acquisition I, Inc., Term Loan, 3 mo. USD Term SOFR + 3.50%, 7.17%, 8/16/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427056 |
| **HOME FURNISHINGS — 0.5%** | **HOME FURNISHINGS — 0.5%** | **HOME FURNISHINGS — 0.5%** |
| AI Aqua Merger Sub, Inc., 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 3.00%, 6.85%, 7/31/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250202 |
| **HOUSEWARES — 1.5%** | **HOUSEWARES — 1.5%** | **HOUSEWARES — 1.5%** |
| American Greetings Corp., 2024 Term Loan B, 1 mo. USD Term SOFR + 5.75%, 9.47%, 10/30/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246263 |
| Hunter Douglas, Inc., 2025 USD Term Loan B, 3 mo. USD Term SOFR + 3.00%, 6.67%, 1/20/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502125 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748388 |
| **INSURANCE — 5.3%** | **INSURANCE — 5.3%** | **INSURANCE — 5.3%** |
| Acrisure LLC, 2024 1st Lien Term Loan B6, 1 mo. USD Term SOFR + 3.00%, 6.72%, 11/6/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498975 |
| Alera Group, Inc., 2025 Term Loan, 1 mo. USD Term SOFR + 3.25%, 6.97%, 5/31/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250857 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Asurion LLC: |  |  |
| 2021 Second Lien Term Loan B4, 1 mo. USD Term SOFR + 5.25%, 9.08%, 1/20/2029 (b)<br>| &nbsp;&nbsp;$500000 | &nbsp;&nbsp;$492430 |
| 2023 Term Loan B11, 1 mo. USD Term SOFR + 4.25%, 8.07%, 8/19/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500207 |
| Baldwin Insurance Group Holdings LLC, 2025 Term Loan B2 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 |
| Howden Group Holdings Ltd., 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.75%, 6.47%, 2/15/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250286 |
| HUB International Ltd., 2025 Term Loan B, 3 mo. USD Term SOFR + 2.25%, 6.12%, 6/20/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250838 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2643593 |
| **INTERNET & TELECOM — 2.0%** | **INTERNET & TELECOM — 2.0%** | **INTERNET & TELECOM — 2.0%** |
| Arches Buyer, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.07%, 12/6/2027 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250213 |
| MH Sub I LLC, 2023 Term Loan, 1 mo. USD Term SOFR + 4.25%, 7.97%, 5/3/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232591 |
| Proofpoint, Inc., 2025 Repriced Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251062 |
| Speedster Bidco GmbH, Facility B1 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249683 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983549 |
| **INVESTMENT COMPANIES — 1.5%** | **INVESTMENT COMPANIES — 1.5%** | **INVESTMENT COMPANIES — 1.5%** |
| NEXUS Buyer LLC: |  |  |
| 2025 Incremental Term Loan, 1 mo. USD Term SOFR + 4.00%, 7.72%, 7/31/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247869 |
| 2025 Term Loan B, 1 mo. USD Term SOFR + 3.50%, 7.22%, 7/31/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492537 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740406 |
| **LEISURE TIME — 2.0%** | **LEISURE TIME — 2.0%** | **LEISURE TIME — 2.0%** |
| Peloton Interactive, Inc., 2024 Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503721 |
| Recess Holdings, Inc., 2025 Repriced Term Loan, 3 mo. USD Term SOFR + 3.75%, 7.62%, 2/20/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251279 |
| Topgolf Callaway Brands Corp., Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250353 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005353 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### STATE STREET SPDR S&P LEVERAGED LOAN ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **LODGING — 1.5%** | **LODGING — 1.5%** | **LODGING — 1.5%** |
| Fertitta Entertainment LLC, 2022 Term Loan B, 1 mo. USD Term SOFR + 3.25%, 6.97%, 1/27/2029 (b)<br>| &nbsp;&nbsp;$498705 | &nbsp;&nbsp;$499158 |
| Travel & Leisure Co., 2024 Incremental Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250102 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749260 |
| **MACHINERY — 1.0%** | **MACHINERY — 1.0%** | **MACHINERY — 1.0%** |
| TK Elevator Midco GmbH, 2025 USD Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502418 |
| **MACHINERY-CONSTRUCTION & MINING — 0.5%** | **MACHINERY-CONSTRUCTION & MINING — 0.5%** | **MACHINERY-CONSTRUCTION & MINING — 0.5%** |
| Chromalloy Corp., 2024 Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.23%, 3/27/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251140 |
| **MEDIA — 1.0%** | **MEDIA — 1.0%** | **MEDIA — 1.0%** |
| Cengage Learning, Inc., 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 3.50%, 7.32%, 3/24/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250689 |
| Virgin Media Bristol LLC, 2023 USD Term Loan Y (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248083 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498772 |
| **OFFICE AUTOMATION&EQUIP — 0.4%** | **OFFICE AUTOMATION&EQUIP — 0.4%** | **OFFICE AUTOMATION&EQUIP — 0.4%** |
| Xerox Holdings Corp., 2023 Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214688 |
| **PHARMACEUTICALS — 3.9%** | **PHARMACEUTICALS — 3.9%** | **PHARMACEUTICALS — 3.9%** |
| Amneal Pharmaceuticals LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.50%, 7.22%, 8/1/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503737 |
| Gainwell Acquisition Corp., Term Loan B, 3 mo. USD Term SOFR + 4.00%, 7.77%, 10/1/2027 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490833 |
| Jazz Financing Lux SARL, 2024 1st Lien Term Loan B2, 1 mo. USD Term SOFR + 2.25%, 5.97%, 5/5/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250356 |
| Organon & Co., 2024 USD Term Loan, 1 mo. USD Term SOFR + 2.25%, 5.97%, 5/19/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241500 |
| Paradigm Parent LLC, 1st Lien Term Loan, 3 mo. USD Term SOFR + 4.50%, 8.17%, 4/16/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220269 |
| Southern Veterinary Partners LLC, 2025 Term Loan B, 3 mo. USD Term SOFR + 2.50%, 6.37%, 12/4/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249354 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956049 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **PIPELINES — 1.6%** | **PIPELINES — 1.6%** | **PIPELINES — 1.6%** |
| AL GCX Holdings LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 2.25%, 5.98%, 12/17/2032 (b)<br>| &nbsp;&nbsp;$300000 | &nbsp;&nbsp;$300657 |
| Brazos Delaware II LLC, 2025 Repriced Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249978 |
| GIP Pilot Acquisition Partners LP, 2025 Term Loan B, 3 mo. USD Term SOFR + 2.00%, 5.94%, 10/4/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250895 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801530 |
| **REAL ESTATE INVESTMENT TRUSTS (REITs) — 1.0%** | **REAL ESTATE INVESTMENT TRUSTS (REITs) — 1.0%** | **REAL ESTATE INVESTMENT TRUSTS (REITs) — 1.0%** |
| Blackstone Mortgage Trust, Inc., 2025 Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250469 |
| Iron Mountain, Inc., 2023 Term Loan B, 1 mo. USD Term SOFR + 2.00%, 5.72%, 1/31/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249675 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500144 |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.5%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.5%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.5%** |
| Cushman & Wakefield U.S. Borrower LLC, 2025 Term Loan B3, 1 mo. USD Term SOFR + 2.75%, 6.47%, 1/31/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251806 |
| **RETAIL — 4.4%** | **RETAIL — 4.4%** | **RETAIL — 4.4%** |
| Boots Group Bidco Ltd., USD Term Loan, 3 mo. USD Term SOFR + 3.50%, 7.21%, 8/30/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251666 |
| Dave & Buster's, Inc., 2024 Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231211 |
| Flynn Restaurant Group LP, 2025 Incremental Term Loan, 1 mo. USD Term SOFR + 3.75%, 7.47%, 1/28/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250685 |
| Great Outdoors Group LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.25%, 6.97%, 1/23/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502294 |
| IRB Holding Corp., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.50%, 6.22%, 12/16/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250238 |
| LBM Acquisition LLC, 2024 Incremental Term Loan B, 1 mo. USD Term SOFR + 3.75%, 7.58%, 6/6/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234586 |
| White Cap Buyer LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 3.25%, 6.97%, 10/19/2029 (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;502603 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223283 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### STATE STREET SPDR S&P LEVERAGED LOAN ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.5%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.5%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.5%** |
| Gryphon Acquire Newco LLC, Term Loan B, 6 mo. USD Term SOFR + 3.00%, 6.85%, 9/13/2032 (b)<br>| &nbsp;&nbsp;$250000 | &nbsp;&nbsp;$252006 |
| **SOFTWARE — 16.4%** | **SOFTWARE — 16.4%** | **SOFTWARE — 16.4%** |
| Athenahealth Group, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.75%, 6.47%, 2/15/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500302 |
| BCPE Pequod Buyer, Inc., USD Term Loan B, 1 mo. USD Term SOFR + 3.00%, 6.72%, 11/25/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250232 |
| Boxer Parent Co., Inc., 2024 2nd Lien Term Loan, 1 mo. USD Term SOFR + 5.75%, 9.47%, 7/30/2032 (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;483312 |
| Cast & Crew Payroll LLC, 2021 Incremental Term Loan, 1 mo. USD Term SOFR + 3.75%, 7.47%, 12/29/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150593 |
| Central Parent, Inc., 2024 Term Loan B (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212036 |
| Cloud Software Group, Inc., 2025 Term Loan B (2032), 3 mo. USD Term SOFR + 3.25%, 6.92%, 8/13/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499959 |
| CoreLogic, Inc., Term Loan, 1 mo. USD Term SOFR + 3.50%, 7.33%, 6/2/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499830 |
| Cvent, Inc., 2025 Term Loan B, 3 mo. USD Term SOFR + 2.75%, 6.42%, 6/17/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499075 |
| Finastra USA, Inc., 2025 USD Term Loan, 3 mo. USD Term SOFR + 4.00%, 7.72%, 9/15/2032 (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;490407 |
| Genesys Cloud Services Holdings II LLC, 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.50%, 6.22%, 1/30/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249805 |
| Kaseya, Inc.: |  |  |
| 2025 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.00%, 6.72%, 3/20/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249886 |
| 2025 2nd Lien Term Loan B (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;490625 |
| Mitchell International, Inc., 2024 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.25%, 6.97%, 6/17/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250492 |
| Playtika Holding Corp., 2021 Term Loan B1, 1 mo. USD Term SOFR + 2.75%, 6.58%, 3/13/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483030 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Polaris Newco LLC, USD Term Loan B (c)<br>| &nbsp;&nbsp;$498698 | &nbsp;&nbsp;$482056 |
| Project Alpha Intermediate Holding, Inc., 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 3.25%, 6.92%, 10/26/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498523 |
| RealPage, Inc., 1st Lien Term Loan, 3 mo. USD Term SOFR + 3.00%, 6.93%, 4/24/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498890 |
| Renaissance Holding Corp., 2024 1st Lien Term Loan (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218491 |
| Rocket Software, Inc., 2023 USD Term Loan B, 1 mo. USD Term SOFR + 3.75%, 7.47%, 11/28/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249633 |
| SS&C Technologies, Inc., 2024 Term Loan B8, 1 mo. USD Term SOFR + 2.00%, 5.72%, 5/9/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245524 |
| UKG, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 2.50%, 6.34%, 2/10/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249925 |
| Zelis Payments Buyer, Inc., 5th Amendment Term Loan, 1 mo. USD Term SOFR + 3.25%, 6.97%, 11/26/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495623 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8248249 |
| **TOTAL SENIOR FLOATING RATE LOANS<br>(Cost $49,963,627)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50040035 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENT — 28.5%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (d) (e)<br>(Cost $14,283,679)<br>| 14283679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14283679 |
| **TOTAL INVESTMENTS — 129.8%<br>(Cost $65,074,146)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65155585 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (29.8)% <br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;(14958982) |
| **NET ASSETS — 100.0% <br>**  |  | &nbsp;&nbsp;$50196603 |

---

&nbsp;&nbsp;&nbsp;&nbsp;

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### STATE STREET SPDR S&P LEVERAGED LOAN ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

(a) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.7% of net assets as of December 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 December 31, 2025. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above.

(c) Position is unsettled. Contract rate was not determined at December 31, 2025 and does not take effect until settlement date. Maturity date is not finalized until settlement date.

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

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

Abbreviations: <br> SOFR Secured Overnight Financing Rate

At December 31, 2025, the Fund had unfunded loan commitments of $160,336, which could be extended at the option of the borrowers, pursuant to the following loan agreements:

---

| | | | |
|:---|:---|:---|:---|
| **Borrower** | &nbsp;&nbsp;&nbsp;**Unfunded Loan<br> Commitment ($)** | &nbsp;&nbsp;&nbsp;**Value ($)** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation/(Depreciation) ($)** |
| GC Ferry Acquisition I, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |
| MRP Buyer LLC<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22293 | &nbsp;&nbsp;&nbsp;&nbsp;(126) |
| Pye-Barker Fire & Safety LLC<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65481 | &nbsp;&nbsp;&nbsp;&nbsp;481 |
|  | &nbsp;&nbsp;$160336 | &nbsp;&nbsp;$160686 | &nbsp;&nbsp;$350 |

---

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of December 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>| $— | $831871 | $— | $831871 |
| Senior Floating Rate Loans<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;50040035 | &nbsp;&nbsp;— | &nbsp;&nbsp;50040035 |
| Short-Term Investment<br>| &nbsp;&nbsp;14283679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;14283679 |
| **TOTAL INVESTMENTS<br>**  | $14283679 | $50871906 | $— | $65155585 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Unfunded Loans - Unrealized Appreciation<br>| $— | $355 | $— | $355 |
| Unfunded Loans - 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;&nbsp;&nbsp;&nbsp;&nbsp;(5) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | $— | $350 | $— | $350 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### STATE STREET SPDR S&P LEVERAGED LOAN ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025

------

#### 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> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>– $— | $50069332 | $35785653 | $— | $— | 14283679 | $14283679 | $138497 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### STATEMENTS OF ASSETS AND LIABILITIES

#### December 31, 2025

------

---

| | | |
|:---|:---|:---|
|  | **SPDR Bloomberg Emerging Markets Local Bond ETF** | **SPDR Bloomberg International Corporate Bond ETF** |
| **ASSETS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in unaffiliated issuers, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;$2168855618 | $391724911 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in affiliated issuers, at value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14580326 | &nbsp;&nbsp;&nbsp;&nbsp;10338632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Investments<br>| &nbsp;&nbsp;&nbsp;2183435944 | &nbsp;&nbsp;&nbsp;402063543 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign currency, at value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26888670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637146 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash at broker<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivable for investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19510995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333196 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation on forward foreign currency exchange contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends receivable — unaffiliated issuers<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends receivable — affiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest receivable — unaffiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38782042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6121064 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities lending income receivable — unaffiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities lending income receivable — affiliated issuers <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2931 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation on unfunded loan commitments<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivable from Adviser<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivable for foreign taxes recoverable<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL ASSETS <br>**  | &nbsp;&nbsp;&nbsp;2269653164 | &nbsp;&nbsp;&nbsp;409165510 |
| **LIABILITIES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3403337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Payable upon return of securities loaned<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12174495 | &nbsp;&nbsp;&nbsp;&nbsp;10281356 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payable for investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24496012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized depreciation on forward foreign currency exchange contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred foreign taxes payable<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Advisory fee payable<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164740 |
| &nbsp;&nbsp;&nbsp;&nbsp;Trustees' fees and expenses payable<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;40 | &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;**TOTAL LIABILITIES <br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41386869 | &nbsp;&nbsp;&nbsp;&nbsp;10446096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**NET ASSETS <br>**  | $2228266295 | $398719414 |
| **NET ASSETS CONSIST OF:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Paid-in capital<br>| &nbsp;&nbsp;&nbsp;&nbsp;$2335951965 | $392989137 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total distributable earnings (loss)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(107685670) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5730277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**NET ASSETS <br>**  | $2228266295 | $398719414 |
| **NET ASSET VALUE PER SHARE** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net asset value per share<br>| $21.36 | $32.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding (unlimited amount authorized, $0.01 par value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104300000 | &nbsp;&nbsp;&nbsp;&nbsp;12450000 |
| **COST OF INVESTMENTS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in unaffiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;$2163963412 | $382564528 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in affiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14580326 | &nbsp;&nbsp;&nbsp;&nbsp;10338632 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cost of investments<br>| $2178543738 | $392903160 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign currency, at cost<br>| $26339351 | $647903 |
| &nbsp;&nbsp;&nbsp;&nbsp;\* Includes investments in securities on loan, at value<br>| $11924304 | $10040872 |
| &nbsp;&nbsp;&nbsp;&nbsp;\*\* Includes deferred foreign taxes<br>| $496374 | $— |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

------

---

| | | | |
|:---|:---|:---|:---|
| **SPDR Bloomberg International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Short Term International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR FTSE International Government Inflation-Protected Bond ETF** | &nbsp;&nbsp;**State Street SPDR S&P Leveraged Loan ETF** |
| &nbsp;&nbsp;&nbsp;$1289454722 | &nbsp;&nbsp;&nbsp;&nbsp;$345194753 | &nbsp;&nbsp;$346599290 | &nbsp;&nbsp;$50871906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2581222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363326 | &nbsp;&nbsp;&nbsp;&nbsp;14283679 |
| &nbsp;&nbsp;1292035944 | &nbsp;&nbsp;&nbsp;&nbsp;345662259 | &nbsp;&nbsp;&nbsp;&nbsp;347962616 | &nbsp;&nbsp;&nbsp;&nbsp;65155585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2284537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2501183 | &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;6045633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8040160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750674 | &nbsp;&nbsp;&nbsp;&nbsp;1353534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11844695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1930058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 | &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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;350 |
| &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;&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;2493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96241 | &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;1312659695 | &nbsp;&nbsp;&nbsp;&nbsp;357087512 | &nbsp;&nbsp;&nbsp;&nbsp;353146101 | &nbsp;&nbsp;&nbsp;&nbsp;66749911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769640 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358568 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8979126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8109729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903431 | &nbsp;&nbsp;&nbsp;&nbsp;16536170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927 | &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;393947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17022 |
| &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;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10493354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8994186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054752 | &nbsp;&nbsp;&nbsp;&nbsp;16553308 |
| $1302166341 | &nbsp;&nbsp;$348093326 | &nbsp;&nbsp;$352091349 | &nbsp;&nbsp;$50196603 |
| &nbsp;&nbsp;&nbsp;$1445749507 | &nbsp;&nbsp;&nbsp;&nbsp;$350964009 | &nbsp;&nbsp;$422124711 | &nbsp;&nbsp;$50039670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(143583166) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2870683) | &nbsp;&nbsp;&nbsp;&nbsp;(70033362) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156933 |
| $1302166341 | &nbsp;&nbsp;$348093326 | &nbsp;&nbsp;$352091349 | &nbsp;&nbsp;$50196603 |
| $22.53 | &nbsp;&nbsp;$27.41 | &nbsp;&nbsp;$39.34 | &nbsp;&nbsp;$25.10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57800038 | &nbsp;&nbsp;&nbsp;&nbsp;12700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8950483 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 |
| &nbsp;&nbsp;&nbsp;$1409059814 | &nbsp;&nbsp;&nbsp;&nbsp;$344182316 | &nbsp;&nbsp;$386405154 | &nbsp;&nbsp;$50790467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2581222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363326 | &nbsp;&nbsp;&nbsp;&nbsp;14283679 |
| $1411641036 | &nbsp;&nbsp;$344649822 | &nbsp;&nbsp;$387768480 | &nbsp;&nbsp;$65074146 |
| $2276258 | &nbsp;&nbsp;$675641 | &nbsp;&nbsp;$2516280 | &nbsp;&nbsp;$— |
| $346407 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| $139011 | &nbsp;&nbsp;$5883 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |

---

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### STATEMENTS OF OPERATIONS

#### For the Year Ended December 31, 2025

------

---

| | | |
|:---|:---|:---|
|  | **SPDR Bloomberg Emerging Markets Local Bond ETF** | **SPDR Bloomberg International Corporate Bond ETF** |
| **INVESTMENT INCOME** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income — unaffiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;$132283140 | $10031442 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividend income — affiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30897 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated securities lending income<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated securities lending income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51930 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign taxes withheld<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4756762) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENT INCOME (LOSS)<br>**  | &nbsp;&nbsp;&nbsp;127769218 | &nbsp;&nbsp;&nbsp;10114279 |
| **EXPENSES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Advisory fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6035926 | &nbsp;&nbsp;&nbsp;&nbsp;1642523 |
| &nbsp;&nbsp;&nbsp;&nbsp;Trustees' fees and expenses <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088 |
| &nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL EXPENSES<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6052205 | &nbsp;&nbsp;&nbsp;&nbsp;1644749 |
| &nbsp;&nbsp;&nbsp;&nbsp;Expenses waived/reimbursed by the Adviser<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**NET EXPENSES<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6052205 | &nbsp;&nbsp;&nbsp;&nbsp;1644749 |
| &nbsp;&nbsp;&nbsp;&nbsp;**NET INVESTMENT INCOME (LOSS)<br>**  | $121717013 | $8469530 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments — unaffiliated issuers\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21166373) | &nbsp;&nbsp;&nbsp;&nbsp;(1417460) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In-kind redemptions — unaffiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596623 | &nbsp;&nbsp;&nbsp;&nbsp;2280430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency exchange contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency transactions<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7520062) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(28044855) | &nbsp;&nbsp;&nbsp;&nbsp;1097104 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation/depreciation on: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments — unaffiliated issuers\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179301512 | &nbsp;&nbsp;&nbsp;25027877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unfunded loan commitments<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency exchange contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2332870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation/depreciation<br>| &nbsp;&nbsp;&nbsp;181658904 | &nbsp;&nbsp;&nbsp;25244631 |
| &nbsp;&nbsp;&nbsp;&nbsp;**NET REALIZED AND UNREALIZED GAIN (LOSS)<br>**  | &nbsp;&nbsp;&nbsp;153614049 | &nbsp;&nbsp;&nbsp;26341735 |
| **NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS<br>**  | $275331062 | $34811265 |
| &nbsp;&nbsp;&nbsp;&nbsp;\* Includes foreign capital gain taxes<br>| $(138299) | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;\*\* Includes deferred foreign taxes<br>| $(407255) | $— |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

------

---

| | | | |
|:---|:---|:---|:---|
| **SPDR Bloomberg International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Short Term International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR FTSE International Government Inflation-Protected Bond ETF** | &nbsp;&nbsp;**State Street SPDR S&P Leveraged Loan ETF<sup>(a)</sup>** |
| &nbsp;&nbsp;&nbsp;$33082701 | &nbsp;&nbsp;&nbsp;&nbsp;$7776280 | &nbsp;&nbsp;$21955775 | &nbsp;&nbsp;$199733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24157 | &nbsp;&nbsp;&nbsp;&nbsp;138497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &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;(287520) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66300) | &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;32936163 | &nbsp;&nbsp;&nbsp;&nbsp;7790906 | &nbsp;&nbsp;&nbsp;&nbsp;21979932 | &nbsp;&nbsp;&nbsp;&nbsp;338230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4438852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698859 | &nbsp;&nbsp;&nbsp;&nbsp;24141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;4459292 | &nbsp;&nbsp;&nbsp;&nbsp;1136329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1701640 | &nbsp;&nbsp;&nbsp;&nbsp;24262 |
| &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2493) |
| &nbsp;&nbsp;&nbsp;&nbsp;4459292 | &nbsp;&nbsp;&nbsp;&nbsp;1136329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1701640 | &nbsp;&nbsp;&nbsp;&nbsp;21769 |
| $28476871 | &nbsp;&nbsp;$6654577 | &nbsp;&nbsp;$20278292 | &nbsp;&nbsp;$316461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9142923) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277196 | &nbsp;&nbsp;&nbsp;&nbsp;(5440943) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2357950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4497434 | &nbsp;&nbsp;&nbsp;&nbsp;(5781532) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(433747) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(480967) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;(7218720) | &nbsp;&nbsp;&nbsp;&nbsp;4879698 | &nbsp;&nbsp;&nbsp;&nbsp;(11703442) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52767396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6987845 | &nbsp;&nbsp;&nbsp;&nbsp;37254343 | &nbsp;&nbsp;&nbsp;&nbsp;81439 |
| &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;&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;350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;53318792 | &nbsp;&nbsp;&nbsp;&nbsp;7073737 | &nbsp;&nbsp;&nbsp;&nbsp;37399837 | &nbsp;&nbsp;&nbsp;&nbsp;81789 |
| &nbsp;&nbsp;46100072 | &nbsp;&nbsp;&nbsp;&nbsp;11953435 | &nbsp;&nbsp;&nbsp;&nbsp;25696395 | &nbsp;&nbsp;&nbsp;&nbsp;90236 |
| $74576943 | &nbsp;&nbsp;$18608012 | &nbsp;&nbsp;$45974687 | &nbsp;&nbsp;$406697 |
| $(39525) | &nbsp;&nbsp;$(9672) | &nbsp;&nbsp;$(106284) | &nbsp;&nbsp;$— |
| $(110424) | &nbsp;&nbsp;$(5593) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |

---

(a) For the period November 18, 2025 (commencement of operations) through December 31, 2025.

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### STATEMENTS OF CHANGES IN NET ASSETS

------

---

| | | |
|:---|:---|:---|
|  | **SPDR Bloomberg Emerging Markets Local Bond ETF** | **SPDR Bloomberg Emerging Markets Local Bond ETF** |
|  | **Year Ended<br> 12/31/25** | **Year Ended<br> 12/31/24** |
| **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;$121717013 | $120103528 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28044855) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31109652) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation/depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181658904 | &nbsp;&nbsp;&nbsp;&nbsp;(139072246) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275331062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50078370) |
| &nbsp;&nbsp;&nbsp;&nbsp;Distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76947591) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91537696) |
| &nbsp;&nbsp;&nbsp;&nbsp;Return of capital<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38137918) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18191153) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Distributions to shareholders <br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(115085509) | &nbsp;&nbsp;&nbsp;&nbsp;(109728849) |
| **FROM BENEFICIAL INTEREST TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275634843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161943475 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61765093) | &nbsp;&nbsp;&nbsp;&nbsp;(107745738) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other capital<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435038 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) in net assets from beneficial interest transactions <br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214350285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54632775 |
| &nbsp;&nbsp;&nbsp;&nbsp;Contribution from Affiliate (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets during the period<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374604611 | &nbsp;&nbsp;&nbsp;&nbsp;(105174444) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net assets at beginning of period<br>| &nbsp;&nbsp;&nbsp;1853661684 | &nbsp;&nbsp;&nbsp;1958836128 |
| **NET ASSETS AT END OF PERIOD<br>**  | $2228266295 | $1853661684 |
| **SHARES OF BENEFICIAL INTEREST:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3100000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5300000) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) from share transactions<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SPDR Bloomberg International<br> Corporate Bond ETF** | **SPDR Bloomberg International<br> Corporate Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg International<br> Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg International<br> Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Short Term<br> International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Short Term<br> International Treasury Bond ETF** |
| **Year Ended<br> 12/31/25** | &nbsp;&nbsp;**Year Ended<br> 12/31/24** | &nbsp;&nbsp;**Year Ended<br> 12/31/25** | &nbsp;&nbsp;**Year Ended<br> 12/31/24** | &nbsp;&nbsp;**Year Ended<br> 12/31/25** | &nbsp;&nbsp;**Year Ended<br> 12/31/24** |
| &nbsp;&nbsp;&nbsp;$8469530 | &nbsp;&nbsp;&nbsp;&nbsp;$4492929 | &nbsp;&nbsp;$28476871 | &nbsp;&nbsp;$19868624 | &nbsp;&nbsp;$6654577 | &nbsp;&nbsp;$3687480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2607246) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7218720) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27170437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4879698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3485091) |
| &nbsp;&nbsp;&nbsp;&nbsp;25244631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9475650) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53318792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61402636) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7073737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8740294) |
| &nbsp;&nbsp;&nbsp;&nbsp;34811265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7589967) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74576943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68704449) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18608012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8537905) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8784288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4469977) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28142163) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15360731) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6798473) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1391445) |
| &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;&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;(2518173) | &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;(2296915) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8784288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4469977) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28142163) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17878904) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6798473) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3688360) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314466573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60784203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613256692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289288066 | &nbsp;&nbsp;&nbsp;&nbsp;388270294 | &nbsp;&nbsp;&nbsp;&nbsp;21171847 |
| &nbsp;&nbsp;&nbsp;&nbsp;(142008880) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68242831) | &nbsp;&nbsp;&nbsp;&nbsp;(353071289) | &nbsp;&nbsp;&nbsp;&nbsp;(260768264) | &nbsp;&nbsp;&nbsp;&nbsp;(186633418) | &nbsp;&nbsp;&nbsp;&nbsp;(52608300) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16792 |
| &nbsp;&nbsp;&nbsp;172634427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7365836) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260889242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28799060 | &nbsp;&nbsp;&nbsp;&nbsp;201965511 | &nbsp;&nbsp;&nbsp;&nbsp;(31419661) |
| &nbsp;&nbsp;&nbsp;198661404 | &nbsp;&nbsp;&nbsp;&nbsp;(19425780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307324022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57784293) | &nbsp;&nbsp;&nbsp;&nbsp;213775050 | &nbsp;&nbsp;&nbsp;&nbsp;(43645926) |
| &nbsp;&nbsp;&nbsp;200058010 | &nbsp;&nbsp;&nbsp;&nbsp;219483790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994842319 | &nbsp;&nbsp;&nbsp;&nbsp;1052626612 | &nbsp;&nbsp;&nbsp;&nbsp;134318276 | &nbsp;&nbsp;&nbsp;&nbsp;177964202 |
| $398719414 | &nbsp;&nbsp;$200058010 | &nbsp;&nbsp;$1302166341 | &nbsp;&nbsp;$994842319 | &nbsp;&nbsp;$348093326 | &nbsp;&nbsp;$134318276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4600000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2350000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15700000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11700000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6800000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2000000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(300000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1200000) |

---

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### STATEMENTS OF CHANGES IN NET ASSETS (continued)

------

---

| | | |
|:---|:---|:---|
|  | **SPDR FTSE International Government Inflation-Protected Bond ETF** | **SPDR FTSE International Government Inflation-Protected Bond ETF** |
|  | **Year Ended<br> 12/31/25** | **Year Ended<br> 12/31/24** |
| **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;$20278292 | $21500637 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11703442) | &nbsp;&nbsp;&nbsp;&nbsp;(30010459) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation/depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;37399837 | &nbsp;&nbsp;&nbsp;&nbsp;(24641083) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;45974687 | &nbsp;&nbsp;&nbsp;&nbsp;(33150905) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net equalization credits and charges<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19537984) | &nbsp;&nbsp;&nbsp;&nbsp;(11160099) |
| &nbsp;&nbsp;&nbsp;&nbsp;Return of capital<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;(9860549) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Distributions to shareholders <br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(19537984) | &nbsp;&nbsp;&nbsp;&nbsp;(21020648) |
| **FROM BENEFICIAL INTEREST TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72713882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3790745 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44278404) | &nbsp;&nbsp;&nbsp;&nbsp;(98359745) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income equalization<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Other capital<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101514 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) in net assets from beneficial interest transactions <br>**  | &nbsp;&nbsp;&nbsp;&nbsp;28629742 | &nbsp;&nbsp;&nbsp;&nbsp;(94467486) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets during the period<br>| &nbsp;&nbsp;&nbsp;&nbsp;55066445 | &nbsp;&nbsp;&nbsp;(148639039) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net assets at beginning of period<br>| &nbsp;&nbsp;&nbsp;297024904 | &nbsp;&nbsp;&nbsp;&nbsp;445663943 |
| **NET ASSETS AT END OF PERIOD<br>**  | $352091349 | $297024904 |
| **SHARES OF BENEFICIAL INTEREST:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1150000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2500000) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) from share transactions<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2400000) |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

------

---

| |
|:---|
| **State Street SPDR S&P Leveraged Loan ETF** |
| **For the Period<br> 11/18/25\*- <br> 12/31/25** |
| &nbsp;&nbsp;&nbsp;$316461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(249764) |
| &nbsp;&nbsp;&nbsp;&nbsp;(249764) |
| &nbsp;&nbsp;&nbsp;&nbsp;50032170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32170) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500 |
| &nbsp;&nbsp;50007500 |
| &nbsp;&nbsp;50196603 |
| $50196603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 |

---

<br> \* Commencement of operations.

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### FINANCIAL HIGHLIGHTS

#### Selected data for a share outstanding throughout each period

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SPDR Bloomberg Emerging Markets Local Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Emerging Markets Local Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Emerging Markets Local Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Emerging Markets Local Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Emerging Markets Local Bond ETF** |
|  | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/25** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/24** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/23** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/22** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/21** |
| **Net asset value, beginning of period<br>**  | &nbsp;&nbsp;$19.64 | &nbsp;&nbsp;$21.31 | &nbsp;&nbsp;$20.49 | &nbsp;&nbsp;$24.37 | &nbsp;&nbsp;$28.00 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income (loss) (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.01 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.78) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.08) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.72) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.52) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.95) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.71) |
| Contribution from affiliate (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00(c) | &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;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 |
| **Distributions to shareholders from:** |  |  |  |  |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.96) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.73) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.81) |
| Return of capital<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.39) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.39) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.94) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.13) |
| Total distributions<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.98) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.94) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$21.36 | &nbsp;&nbsp;$19.64 | &nbsp;&nbsp;$21.31 | &nbsp;&nbsp;$20.49 | &nbsp;&nbsp;$24.37 |
| **Total return (d)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.12% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.53)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.79% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11.89)%(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9.74)% |
| **Ratios and Supplemental Data:** |  |  |  |  |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$2228266 | &nbsp;&nbsp;$1853662 | &nbsp;&nbsp;$1958836 | &nbsp;&nbsp;$2151484 | &nbsp;&nbsp;$1179569 |
| **Ratios to average net assets:** |  |  |  |  |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.30% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.30% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.30% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.31% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.30% |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.86% |
| Portfolio turnover rate (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22% |

---

(a) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.

(b) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.

(c) Amount is less than $0.005 per share.

(d) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.

(e) If an Affiliate had not made a contribution during the year ended December 31, 2022, the total return would have been (11.93)%.

(f) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### FINANCIAL HIGHLIGHTS (continued)

#### Selected data for a share outstanding throughout each period

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SPDR Bloomberg International Corporate Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg International Corporate Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg International Corporate Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg International Corporate Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg International Corporate Bond ETF** |
|  | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/25** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/24** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/23** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/22** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/21** |
| **Net asset value, beginning of period<br>**  | &nbsp;&nbsp;$28.38 | &nbsp;&nbsp;$29.86 | &nbsp;&nbsp;$27.47 | &nbsp;&nbsp;$34.46 | &nbsp;&nbsp;$37.76 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income (loss) (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.12 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.50) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7.08) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.30) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.76) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.85) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.18) |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01 |
| **Distributions to shareholders from:** |  |  |  |  |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.80) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.74) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.62) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.13) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$32.03 | &nbsp;&nbsp;$28.38 | &nbsp;&nbsp;$29.86 | &nbsp;&nbsp;$27.47 | &nbsp;&nbsp;$34.46 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.78% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.54)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19.86)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8.41)% |
| **Ratios and Supplemental Data:** |  |  |  |  |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$398719 | &nbsp;&nbsp;$200058 | &nbsp;&nbsp;$219484 | &nbsp;&nbsp;$140105 | &nbsp;&nbsp;$151641 |
| **Ratios to average net assets:** |  |  |  |  |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.51% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50% |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.58% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.54% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.78% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.32% |
| Portfolio turnover rate (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14% |

---

(a) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.

(b) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.

(c) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.

(d) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### FINANCIAL HIGHLIGHTS (continued)

#### Selected data for a share outstanding throughout each period

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SPDR Bloomberg International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg International Treasury Bond ETF** |
|  | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/25** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/24** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/23** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/22** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/21** |
| **Net asset value, beginning of period<br>**  | &nbsp;&nbsp;$21.35 | &nbsp;&nbsp;$23.24 | &nbsp;&nbsp;$22.35 | &nbsp;&nbsp;$28.15 | &nbsp;&nbsp;$31.22 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income (loss) (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.28 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.94) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.87) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.10) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.47) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.53) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.82) |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01 |
| **Distributions to shareholders from:** |  |  |  |  |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.49) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.37) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.38) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.27) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.26) |
| Return of capital<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.06) | &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;— |
| Total distributions<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.49) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.43) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.38) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.27) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.26) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$22.53 | &nbsp;&nbsp;$21.35 | &nbsp;&nbsp;$23.24 | &nbsp;&nbsp;$22.35 | &nbsp;&nbsp;$28.15 |
| **Total return (d)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.86% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.35)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.73% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19.66)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9.01)% |
| **Ratios and Supplemental Data:** |  |  |  |  |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$1302166 | &nbsp;&nbsp;$994842 | &nbsp;&nbsp;$1052627 | &nbsp;&nbsp;$1115366 | &nbsp;&nbsp;$951578 |
| **Ratios to average net assets:** |  |  |  |  |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.36% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35% |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.43% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.95% |
| Portfolio turnover rate (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15% |

---

(a) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.

(b) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.

(c) Amount is less than $0.005 per share.

(d) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.

(e) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### FINANCIAL HIGHLIGHTS (continued)

#### Selected data for a share outstanding throughout each period

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SPDR Bloomberg Short Term International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Short Term International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Short Term International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Short Term International Treasury Bond ETF** | &nbsp;&nbsp;**SPDR Bloomberg Short Term International Treasury Bond ETF** |
|  | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/25** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/24** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/23** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/22** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/21** |
| **Net asset value, beginning of period<br>**  | &nbsp;&nbsp;$25.34 | &nbsp;&nbsp;$27.38 | &nbsp;&nbsp;$26.90 | &nbsp;&nbsp;$30.38 | &nbsp;&nbsp;$32.84 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income (loss) (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.03) |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.04 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.47) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.26) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.42) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.35) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.29) |
| Contribution from affiliate<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.01) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01 |
| **Distributions to shareholders from:** |  |  |  |  |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.56) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.18) |
| Return of capital<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.39) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.45) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total distributions<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.56) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.62) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.45) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.18) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$27.41 | &nbsp;&nbsp;$25.34 | &nbsp;&nbsp;$27.38 | &nbsp;&nbsp;$26.90 | &nbsp;&nbsp;$30.38 |
| **Total return (d)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.42% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.20)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.49% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11.07)%(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.91)% |
| **Ratios and Supplemental Data:** |  |  |  |  |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$348093 | &nbsp;&nbsp;$134318 | &nbsp;&nbsp;$177964 | &nbsp;&nbsp;$145236 | &nbsp;&nbsp;$170134 |
| **Ratios to average net assets:** |  |  |  |  |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.36% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.36% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35% |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.06% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.09)% |
| Portfolio turnover rate (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64% |

---

(a) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.

(b) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.

(c) Amount is less than $0.005 per share.

(d) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.

(e) If an affiliate had not made a contribution during the year ended ended December 31, 2022, the total return would have remained (11.07)%

(f) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### FINANCIAL HIGHLIGHTS (continued)

#### Selected data for a share outstanding throughout each period

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SPDR FTSE International Government Inflation-Protected Bond ETF** | &nbsp;&nbsp;**SPDR FTSE International Government Inflation-Protected Bond ETF** | &nbsp;&nbsp;**SPDR FTSE International Government Inflation-Protected Bond ETF** | &nbsp;&nbsp;**SPDR FTSE International Government Inflation-Protected Bond ETF** | &nbsp;&nbsp;**SPDR FTSE International Government Inflation-Protected Bond ETF** |
|  | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/25** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/24** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/23** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/22** | &nbsp;&nbsp;**Year<br> Ended<br> 12/31/21** |
| **Net asset value, beginning of period<br>**  | &nbsp;&nbsp;$36.22 | &nbsp;&nbsp;$42.04 | &nbsp;&nbsp;$41.33 | &nbsp;&nbsp;$53.95 | &nbsp;&nbsp;$58.57 |
| **Income (loss) from investment operations:** |  |  |  |  |  |
| Net investment income (loss) (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.56 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.36) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.87) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12.97) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.71) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.64) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8.06) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.15) |
| Contribution from affiliate<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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 |
| **Distributions to shareholders from:** |  |  |  |  |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.63) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.53) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.49) |
| Return of capital<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.03) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.06) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total distributions<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.74) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.59) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.49) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$39.34 | &nbsp;&nbsp;$36.22 | &nbsp;&nbsp;$42.04 | &nbsp;&nbsp;$41.33 | &nbsp;&nbsp;$53.95 |
| **Total return (d)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.88% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8.86)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.74% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15.41)%(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.68)% |
| **Ratios and Supplemental Data:** |  |  |  |  |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$352091 | &nbsp;&nbsp;$297025 | &nbsp;&nbsp;$445664 | &nbsp;&nbsp;$520775 | &nbsp;&nbsp;$453227 |
| **Ratios to average net assets:** |  |  |  |  |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.51% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50% |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.97% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.68% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.68% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.57% |
| Portfolio turnover rate (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20% |

---

(a) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.

(b) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.

(c) Amount is less than $0.005 per share.

(d) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.

(e) If an Affiliate had not made a contribution during the year ended December 31 2022, the total return would have remained (15.41)%.

(f) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### FINANCIAL HIGHLIGHTS (continued)

#### Selected data for a share outstanding throughout each period

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**State Street SPDR S&P Leveraged Loan ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 11/18/25\*- <br> 12/31/25** |
| **Net asset value, beginning of period<br>**  | &nbsp;&nbsp;$25.00 |
| **Income (loss) from investment operations:** |  |
| Net investment income (loss) (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.16 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.04 |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.20 |
| Net equalization credits and charges<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00(c) |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.12) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$25.10 |
| **Total return (d)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.89% |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$50197 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.40%(e) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%(e) |
| Portfolio turnover rate (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9%(g) |

---

\* Commencement of operations.

(a) Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.

(b) Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.

(c) Amount is less than $0.005 per share.

(d) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.

(e) Annualized.

(f) Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

(g) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### NOTES TO FINANCIAL STATEMENTS

#### December 31, 2025

------

1.&nbsp;&nbsp;&nbsp;&nbsp;Organization

SPDR Series Trust (the "Trust"), a Massachusetts business trust, registered under the Investment Company Act of 1940, as amended ("1940 Act"), is an open-end management investment company.

As of December 31, 2025, the Trust consists of eighty-six (86) series, each of which represents a separate series of beneficial interest in the Trust. The Declaration of Trust permits the Board of Trustees of the Trust (the "Board") to authorize the issuance of an unlimited number of shares of beneficial interest at $0.01 par value. The financial statements herein relate to the following series (each a "Fund", and collectively, the "Funds"):

---

| |
|:---|
| SPDR Bloomberg Emerging Markets Local Bond ETF |
| SPDR Bloomberg International Corporate Bond ETF |
| SPDR Bloomberg International Treasury Bond ETF |
| SPDR Bloomberg Short Term International Treasury Bond ETF |
| SPDR FTSE International Government Inflation-Protected Bond ETF |
| State Street SPDR S&P Leveraged Loan ETF |

---

State Street SPDR S&P Leveraged Loan ETF was formed on November 17, 2025 and commenced operations on November 18, 2025.

Each Fund, except for SPDR Bloomberg International Corporate Bond ETF, is classified as a non-diversified investment company under the 1940 Act. SPDR Bloomberg International Corporate Bond ETF is classified as a diversified investment company under the 1940 Act.

2.&nbsp;&nbsp;&nbsp;&nbsp;Segment Reporting

Each Fund has one reportable segment. Business activities are managed on a consolidated basis and revenues are derived primarily through each Fund's investments in accordance with its investment objective. Each Fund's chief operating decision maker ("CODM") is the President of the Trust. The CODM assesses performance based on a Fund's Total Return as reported in the Financial Highlights, and the same accounting policies are applied as described in the summary of significant accounting policies. Each Fund's Total Return is utilized by the CODM to compare results, including the impact of a Fund's costs, to a Fund's competitors and to a Fund's benchmark index.

3.&nbsp;&nbsp;&nbsp;&nbsp;Summary of Significant Accounting Policies

The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements:

The preparation of financial statements in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies.

#### Security Valuation
Each Fund's investments are valued at fair value each day that the New York Stock Exchange ("NYSE") is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the NYSE is not open. Fair value is generally defined as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. By its nature, a fair value price is a good faith estimate of the valuation in a current sale and may not reflect an actual market price. The investments of each Fund are valued pursuant to the policy and procedures developed by the Oversight Committee (the "Committee") and approved by the Board. The Committee provides oversight of the valuation of investments for the Funds. The Board has responsibility for overseeing the determination of the fair value of investments.

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

• 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.

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### December 31, 2025

------

• Government and municipal fixed income securities are generally valued using quotations from independent pricing services or brokers. Certain government inflation-indexed securities may require a calculated fair valuation as the cumulative inflation is contained within the price provided by the pricing service or broker. For these securities, the inflation component of the price is "cleaned" from the pricing service or broker price utilizing the published inflation factors in order to ensure proper accrual of income.

• Debt obligations (including short-term investments and convertible debt securities) are valued using quotations from independent pricing services or brokers or are generally valued at the last reported evaluated prices.

• 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.

• Senior loans or other loans are valued at evaluated bid prices supplied by an independent pricing service, if available. Senior loans and other loans for which the Committee determines that there are no reliable valuations available from pricing services or brokers will be initially valued at cost and adjusted for amortization of principal until remeasurement is warranted due to a credit or economic event or other factors affecting the loan.

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.

Various inputs are used in determining the value of the Funds' investments.

The Funds value their assets and liabilities at fair value using a fair value hierarchy consisting of three broad levels that prioritize the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The categorization of a value determined for an investment within the hierarchy is based upon the pricing transparency of the investment and is not necessarily an indication of the risk associated with investing in it.

The three levels of the fair value hierarchy are as follows:

• Level 1 – Unadjusted quoted prices in active markets for an identical asset or liability;

• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and

• Level 3 – Unobservable inputs for the asset or liability, including the Committee's assumptions used in determining the fair value of investments.

The value of each Fund's investments according to the fair value hierarchy as of December 31, 2025 is disclosed in each Fund's respective Schedule of Investments.

#### Investment Transactions and Income Recognition
Investment transactions are accounted for on trade date for financial reporting purposes. Realized gains and losses from the sale or disposition of investments and foreign exchange transactions, if any, are determined using the identified cost method.

Dividend income and capital gain distributions, if any, are recognized on the ex-dividend date, or when the information becomes available, net of any foreign taxes withheld at source, if any. Non-cash dividends, if any, received in the form of stock are recorded as dividend income at fair value. Distributions received by the Funds may include a return of capital that is estimated by management. Such amounts are recorded as a reduction of the cost of investments or reclassified to capital gains.

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### December 31, 2025

------

#### Expenses
Certain expenses, which are directly identifiable to a specific Fund, are applied to that Fund within the Trust. Other expenses which cannot be attributed to a specific Fund are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative net assets of the Funds within the Trust.

#### Foreign Currency Translation
The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies as well as investment securities and other assets and liabilities denominated in a foreign currency are translated to U.S. dollars using exchange rates at period end. Purchases and sales of securities, income receipts and expense payments denominated in foreign currencies are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

#### Foreign Taxes
The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with SSGA FM understanding of the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Funds and are reflected in the Statements of Operations, if applicable. Foreign taxes payable or deferred as of December 31, 2025, if any, are disclosed in the Funds' Statements of Assets and Liabilities.

#### Distributions
Distributions from net investment income, if any, are declared and paid monthly. Net realized capital gains, if any, are distributed annually. Dividends may be declared and paid more frequently or at any other times to improve Index tracking or to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended ("Internal Revenue Code") as amended. The amount and character of income and capital gains to be distributed are determined in accordance with applicable tax regulations which may differ from net investment income and realized gains recognized for U.S. GAAP purposes.

#### Loan Agreements
State Street SPDR S&P Leveraged Loan ETF invests in Senior Loans. Senior Loans consist generally of obligations of companies and other entities (collectively, "borrowers") incurred for the purpose of reorganizing the assets and liabilities of a borrower; acquiring another company; taking over control of a company (leveraged buyout); temporary refinancing; or financing internal growth or other general business purposes. Senior Loans are often obligations of borrowers who have incurred a significant percentage of debt compared to their total assets and thus are highly leveraged. The State Street SPDR S&P Leveraged Loan ETF does not treat the banks originating or acting as agents for the lenders, or granting or acting as intermediaries in participation interests, in loans held by the State Street SPDR S&P Leveraged Loan ETF as the issuers of such loans.

4.&nbsp;&nbsp;&nbsp;&nbsp;Derivative Financial Instruments

#### Forward Foreign Currency Exchange Contracts
Certain Funds may engage in forward foreign currency contracts to acquire exposure to foreign currencies or to hedge the Fund's 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 market value is recorded by the Fund as an unrealized gain or loss. When the contract is closed, a 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 counterparties 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,

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### December 31, 2025

------

the Funds give up the opportunity to profit from favorable exchange rate movements during the term of the contract.

For the year ended December 31, 2025, the SPDR Bloomberg Emerging Markets Local Bond ETF entered into forward foreign currency exchange contracts to manage currency exposure.

The following tables summarize the value of the Funds' derivative instruments as of December 31, 2025, and the related location in the accompanying Statement of Assets and Liabilities and Statement of Operations, presented by primary underlying risk exposure:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Asset Derivatives** |
|  | &nbsp;&nbsp;**Interest<br> Rate<br> Risk** | &nbsp;&nbsp;**Foreign<br> Exchange<br> Risk** | &nbsp;&nbsp;**Credit<br> Risk** | &nbsp;&nbsp;**Equity<br> Risk** | &nbsp;&nbsp;**Commodity<br> Risk** | &nbsp;&nbsp;**Total** |
| **SPDR Bloomberg Emerging Markets Local Bond ETF** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$255817 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$255817 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Liability Derivatives** | &nbsp;&nbsp;**Liability Derivatives** | &nbsp;&nbsp;**Liability Derivatives** | &nbsp;&nbsp;**Liability Derivatives** | &nbsp;&nbsp;**Liability Derivatives** | &nbsp;&nbsp;**Liability Derivatives** |
|  | &nbsp;&nbsp;**Interest<br> Rate<br> Risk** | &nbsp;&nbsp;**Foreign<br> Exchange<br> Risk** | &nbsp;&nbsp;**Credit<br> Risk** | &nbsp;&nbsp;**Equity<br> Risk** | &nbsp;&nbsp;**Commodity<br> Risk** | &nbsp;&nbsp;**Total** |
| **SPDR Bloomberg Emerging Markets Local Bond ETF** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$252183 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$252183 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Net Realized Gain (Loss)** | &nbsp;&nbsp;**Net Realized Gain (Loss)** | &nbsp;&nbsp;**Net Realized Gain (Loss)** | &nbsp;&nbsp;**Net Realized Gain (Loss)** | &nbsp;&nbsp;**Net Realized Gain (Loss)** | &nbsp;&nbsp;**Net Realized Gain (Loss)** |
|  | &nbsp;&nbsp;**Interest<br> Rate<br> Risk** | &nbsp;&nbsp;**Foreign<br> Exchange<br> Risk** | &nbsp;&nbsp;**Credit<br> Risk** | &nbsp;&nbsp;**Equity<br> Risk** | &nbsp;&nbsp;**Commodity<br> Risk** | &nbsp;&nbsp;**Total** |
| **SPDR Bloomberg Emerging Markets Local Bond ETF** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$44957 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$44957 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Net Change in Unrealized Appreciation/Depreciation** | &nbsp;&nbsp;**Net Change in Unrealized Appreciation/Depreciation** | &nbsp;&nbsp;**Net Change in Unrealized Appreciation/Depreciation** | &nbsp;&nbsp;**Net Change in Unrealized Appreciation/Depreciation** | &nbsp;&nbsp;**Net Change in Unrealized Appreciation/Depreciation** | &nbsp;&nbsp;**Net Change in Unrealized Appreciation/Depreciation** |
|  | &nbsp;&nbsp;**Interest<br> Rate<br> Risk** | &nbsp;&nbsp;**Foreign<br> Exchange<br> Risk** | &nbsp;&nbsp;**Credit<br> Risk** | &nbsp;&nbsp;**Equity<br> Risk** | &nbsp;&nbsp;**Commodity<br> Risk** | &nbsp;&nbsp;**Total** |
| **SPDR Bloomberg Emerging Markets Local Bond ETF** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$24522 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$24522 |

---

For financial reporting purposes, the Funds do not offset derivative assets or liabilities, including those that may be subject to an enforceable Foreign Exchange Master Agreement that allows for net settlement between counterparties, on their Statements of Assets and Liabilities. The following tables set forth the SPDR Bloomberg Emerging Markets Local Bond ETF's net exposure to derivative assets and liabilities available for offset and net of collateral at December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Offsetting of Financial Assets and Derivative Assets** | **Offsetting of Financial Assets and Derivative Assets** | **Offsetting of Financial Assets and Derivative Assets** | **Offsetting of Financial Assets and Derivative Assets** | **Offsetting of Financial Assets and Derivative Assets** |
|  | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** |
| **Counterparty** | **Gross Amounts<br> of Assets** | **Amount<br> Eligible<br> to Offset** | **Cash Collateral<br> Received** | **Net<br> Amount** |
| Barclays Capital PLC<br>| $7818 | $(7818) | $— | $— |
| Deutsche Bank AG<br>| &nbsp;&nbsp;&nbsp;116326 | &nbsp;&nbsp;&nbsp;(109460) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6866 |
| Goldman Sachs Bank USA<br>| &nbsp;&nbsp;&nbsp;131673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(599) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;131074 |
|  | $255817 | $(117877) | $— | $137940 |

---

&nbsp;&nbsp;&nbsp;&nbsp;

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[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### December 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Offsetting of Financial Liabilities and Derivative Liabilities** | **Offsetting of Financial Liabilities and Derivative Liabilities** | **Offsetting of Financial Liabilities and Derivative Liabilities** | **Offsetting of Financial Liabilities and Derivative Liabilities** | **Offsetting of Financial Liabilities and Derivative Liabilities** |
|  | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** |
| **Counterparty** | **Gross Amounts<br> of Liabilities** | **Amount<br> Eligible<br> to Offset** | **Cash Collateral<br> Pledged** | **Net<br> Amount** |
| Barclays Capital PLC<br>| $(13063) | $7818 | $— | $(5245) |
| Deutsche Bank AG<br>| &nbsp;&nbsp;&nbsp;(109460) | &nbsp;&nbsp;&nbsp;109460 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Goldman Sachs Bank USA<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(599) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Standard Chartered Bank<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4507) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4507) |
| UBS AG<br>| &nbsp;&nbsp;&nbsp;(124554) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(124554) |
|  | $(252183) | $117877 | $— | $(134306) |

---

Amounts presented on the Schedules of Investments and Statements of Assets and Liabilities are not net settlement amounts but gross.

5.&nbsp;&nbsp;&nbsp;&nbsp;Fees and Transactions with Affiliates

#### Advisory Fee
The Trust, on behalf of each Fund, has entered into an Investment Advisory Agreement with SSGA Funds Management, Inc. (the "Adviser" or "SSGA FM"). For its advisory services to the Funds, facilities furnished and expenses borne by the Adviser, each Fund pays the Adviser a fee ("Management/Advisory fee") accrued daily and paid monthly, based on a percentage of each Fund's average daily net assets as shown in the following table:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**Annual Rate** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.30% |
| SPDR Bloomberg International Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |
| SPDR Bloomberg International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35 |
| SPDR Bloomberg Short Term International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35 |
| SPDR FTSE International Government Inflation-Protected Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |
| State Street SPDR S&P Leveraged Loan ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.40 |

---

From time to time, the Adviser may waive all or a portion of its Management fee. The Adviser has contractually agreed to waive a portion of its Management fee and/or reimburse expenses in an amount equal to any acquired fund fees and expenses (excluding holdings in acquired funds for cash management purposes, if any) for each Fund until April 30, 2026.

For the fiscal period ended December 31, 2025, the Adviser voluntarily waived fees in the amount of $2,493 for the State Street SPDR S&P Leveraged Loan ETF.

This waiver and/or reimbursement does not provide for the recoupment by the Adviser of any amounts waived or reimbursed. This waiver and/or reimbursement may not be terminated prior to April 30, 2026 except with the approval of the Funds' Board of Trustees.

The Adviser pays all expenses of each Fund other than the Management fee, brokerage expenses, taxes, interest, fees and expenses of the Trust's Trustees, who are not "interested persons" of the Trust, as defined in the 1940 Act ("Independent Trustees") (including any Trustee's counsel fees), litigation expenses, acquired fund fees and expenses and other extraordinary expenses.

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### December 31, 2025

------

#### Administrator, Custodian, Sub-Administrator and Transfer Agent Fees
SSGA FM serves as administrator and State Street Bank and Trust Company ("State Street"), an affiliate of the Adviser, serves as custodian, sub-administrator and transfer agent. State Street receives fees for its services as custodian, sub-administrator and transfer agent from the Adviser.

#### Distributor
State Street Global Advisors Funds Distributors, LLC ("SSGA FD" or the "Distributor"), an affiliate of the Adviser, serves as the Distributor of the Trust.

#### Other Transactions with Affiliates - Securities Lending
State Street, an affiliate of the Funds, acts as the securities lending agent for the Funds, pursuant to an amended and restated securities lending authorization agreement dated January 6, 2017, as amended.

Net proceeds collected by State Street on investment of cash collateral or any fee income less rebates payable to borrowers are paid as follows: If the calendar year to date net proceeds are below a specified threshold across SPDR ETFs, each Fund retains eighty five percent (85%) of the net proceeds and fifteen percent (15%) of such net proceeds is payable to State Street. Starting the business day following the date that calendar year to date net proceeds exceeds a specified threshold, each Fund retains ninety percent (90%) of the net proceeds and ten percent (10%) of such net proceeds is payable to State Street.

In addition, cash collateral from lending activities is invested in the State Street Navigator Securities Lending Portfolio II, an affiliated fund, for which SSGA FM serves as investment adviser. See Note 10 for additional information regarding securities lending.

#### Other Transactions with Affiliates
The Funds may invest in affiliated entities, including securities issued by State Street Corporation, affiliated funds, or entities deemed to be affiliates as a result of the Funds owning more than five percent of the entity's voting securities or outstanding shares. Amounts relating to these transactions during the year ended December 31, 2025 are disclosed in the Schedules of Investments.

During the year ended December 31, 2025, the Adviser made a contribution of $8,773 to the SPDR Bloomberg Emerging Markets Local Bond ETF related to a trading matter.

6.&nbsp;&nbsp;&nbsp;&nbsp;Trustees' Fees

The fees and expenses of the Independent Trustees are paid directly by the Funds. The Independent Trustees are reimbursed for travel and other out-of-pocket expenses in connection with meeting attendance and industry seminars.

7.&nbsp;&nbsp;&nbsp;&nbsp;Investment Transactions

Purchases and sales of investments (excluding in-kind transactions and short term investments) for the year ended December 31, 2025 were as follows:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| $837387530 | $632708918 |
| SPDR Bloomberg International Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;91391664 | &nbsp;&nbsp;&nbsp;&nbsp;97013620 |
| SPDR Bloomberg International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;270862916 | &nbsp;&nbsp;&nbsp;196932033 |
| SPDR Bloomberg Short Term International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;267797529 | &nbsp;&nbsp;&nbsp;188165003 |
| SPDR FTSE International Government Inflation-Protected Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;56903211 | &nbsp;&nbsp;&nbsp;&nbsp;51517759 |
| State Street SPDR S&P Leveraged Loan ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;53830120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4479727 |

---

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[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### December 31, 2025

------

For the year ended December 31, 2025, the following Funds had in-kind contributions, redemptions and net realized gains/losses in the amounts as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **In-kind<br> Contributions** | **In-kind<br> Redemptions** | **In-kind Net<br> Realized<br> Gains/(Losses)** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| $9291859 | $33930980 | $596623 |
| SPDR Bloomberg International Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;267968722 | &nbsp;&nbsp;&nbsp;&nbsp;94103793 | &nbsp;&nbsp;&nbsp;&nbsp;2280430 |
| SPDR Bloomberg International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;470451662 | &nbsp;&nbsp;&nbsp;285279100 | &nbsp;&nbsp;&nbsp;&nbsp;2357950 |
| SPDR Bloomberg Short Term International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;274009021 | &nbsp;&nbsp;&nbsp;154459331 | &nbsp;&nbsp;&nbsp;&nbsp;4497434 |
| SPDR FTSE International Government Inflation-Protected Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;45111375 | &nbsp;&nbsp;&nbsp;&nbsp;35928956 | &nbsp;&nbsp;&nbsp;(5781532) |

---

8.&nbsp;&nbsp;&nbsp;&nbsp;Shareholder Transactions

Each Fund issues and redeems its shares, at NAV, by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units"). Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets.

The consideration for the purchase of Creation Units of each Fund may consist of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to the Trust and/or custodian, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. An additional variable fee may be charged for certain transactions. Such variable charges, if any, are included in "Other Capital" on the Statements of Changes in Net Assets.

9.&nbsp;&nbsp;&nbsp;&nbsp;Income Tax Information

The Funds, other than State Street SPDR S&P Leveraged Loan ETF, have qualified and intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code. The State Street SPDR S&P Leveraged Loan ETF intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code. Each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. Therefore, no provision for federal income tax is required.

The Funds, other than State Street SPDR S&P Leveraged Loan ETF, file federal and various state and local tax returns as required. The State Street SPDR S&P Leveraged Loan ETF will file federal and various state and local tax returns as required. No income tax returns are currently under examination. Generally, the federal returns are subject to examination by the Internal Revenue Service for a period of three years from date of filing, while the state returns may remain open for an additional year depending upon jurisdiction. SSGA FM has analyzed each Fund's tax positions taken on tax returns for all open years and does not believe there are any uncertain tax positions that would require recognition of a tax liability.

Distributions to shareholders are recorded on ex-dividend date. Income dividends and gain distributions are determined in accordance with income tax rules and regulations, which may differ from generally accepted accounting principles.

Certain capital accounts in the financial statements have been adjusted for permanent book-tax differences. These adjustments have no impact on NAV or results of operations. Temporary book-tax differences will reverse in the future. These book-tax differences are primarily due to differing treatments for character of distributions, in-kind transactions, foreign currencies, premium amortization, hyperinflationary mark-to-market adjustments, wash sale loss deferrals, TIPS adjustments, forward contracts, straddle adjustments, and distributions in excess of current earnings.

The tax character of distributions paid during the year ended December 31, 2025 was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Ordinary<br> Income** | **Long-Term<br> Capital Gains** | **Tax Return<br> of Capital** | **Total** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| $76947591 | $— | $38137918 | $115085509 |
| SPDR Bloomberg International Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;8784288 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8784288 |

---

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[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### December 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Ordinary<br> Income** | **Long-Term<br> Capital Gains** | **Tax Return<br> of Capital** | **Total** |
| SPDR Bloomberg International Treasury Bond ETF<br>| $28142163 | $— | $— | $28142163 |
| SPDR Bloomberg Short Term International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;6798473 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6798473 |
| SPDR FTSE International Government Inflation-Protected Bond ETF<br>| &nbsp;&nbsp;&nbsp;19537984 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;19537984 |
| State Street SPDR S&P Leveraged Loan ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249764 | &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;249764 |

---

The tax character of distributions paid during the fiscal year ended December 31, 2024 was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Ordinary<br> Income** | **Long-Term<br> Capital Gains** | **Tax Return<br> of Capital** | **Total** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| $91537696 | $— | $18191153 | $109728849 |
| SPDR Bloomberg International Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;4469977 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4469977 |
| SPDR Bloomberg International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;15360731 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2518173 | &nbsp;&nbsp;&nbsp;&nbsp;17878904 |
| SPDR Bloomberg Short Term International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;1391445 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2296915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3688360 |
| SPDR FTSE International Government Inflation-Protected Bond ETF<br>| &nbsp;&nbsp;&nbsp;11160099 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;9860549 | &nbsp;&nbsp;&nbsp;&nbsp;21020648 |

---

At December 31, 2025, the components of distributable earnings on a tax basis were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Undistributed<br> Ordinary Income** | **Capital Loss<br> Carryforwards** | **Undistributed<br> Long-Term<br> Capital Gains** | **Net Unrealized<br> Gains (Losses)** | **Total** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| $— | $(128324368) | $— | $20638698 | $(107685670) |
| SPDR Bloomberg International Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(3249907) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8980184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5730277 |
| SPDR Bloomberg International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(22553294) | &nbsp;&nbsp;— | &nbsp;&nbsp;(121029872) | &nbsp;&nbsp;(143583166) |
| SPDR Bloomberg Short Term International Treasury Bond ETF<br>| &nbsp;&nbsp;104749 | &nbsp;&nbsp;&nbsp;&nbsp;(3975375) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999943 | &nbsp;&nbsp;&nbsp;&nbsp;(2870683) |
| SPDR FTSE International Government Inflation-Protected Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(29210746) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(40822616) | &nbsp;&nbsp;&nbsp;&nbsp;(70033362) |
| State Street SPDR S&P Leveraged Loan ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;76518 | &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;80415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156933 |

---

As of December 31, 2025, the following Funds had capital loss carryforwards available to offset future realized capital gains as follows:

---

| | | |
|:---|:---|:---|
|  | **Non-Expiring<br> Short Term** | **Non-Expiring<br> Long Term** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| $36360528 | $91963840 |
| SPDR Bloomberg International Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20546 | &nbsp;&nbsp;&nbsp;&nbsp;3229361 |
| SPDR Bloomberg International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;2337214 | &nbsp;&nbsp;&nbsp;20216080 |
| SPDR Bloomberg Short Term International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;1009894 | &nbsp;&nbsp;&nbsp;&nbsp;2965481 |
| SPDR FTSE International Government Inflation-Protected Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;9059347 | &nbsp;&nbsp;&nbsp;20151399 |

---

As of December 31, 2025, gross unrealized appreciation and gross unrealized depreciation of investments and other financial instruments based on cost for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Tax<br> Cost** | **Gross<br> Unrealized<br> Appreciation** | **Gross<br> Unrealized<br> Depreciation** | **Net Unrealized<br> Appreciation<br> (Depreciation)** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| $2163352682 | $146552570 | $126465674 | $20086896 |
| SPDR Bloomberg International Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;393148697 | &nbsp;&nbsp;&nbsp;&nbsp;12246490 | &nbsp;&nbsp;&nbsp;&nbsp;3331644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8914846 |
| SPDR Bloomberg International Treasury Bond ETF<br>| &nbsp;&nbsp;1413133607 | &nbsp;&nbsp;&nbsp;&nbsp;31640980 | &nbsp;&nbsp;152738643 | &nbsp;&nbsp;(121097663) |
| SPDR Bloomberg Short Term International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;344683876 | &nbsp;&nbsp;&nbsp;&nbsp;7631732 | &nbsp;&nbsp;&nbsp;&nbsp;6653349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978383 |
| SPDR FTSE International Government Inflation-Protected Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;388803285 | &nbsp;&nbsp;&nbsp;&nbsp;10892807 | &nbsp;&nbsp;&nbsp;&nbsp;51733476 | &nbsp;&nbsp;&nbsp;&nbsp;(40840669) |
| State Street SPDR S&P Leveraged Loan ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65075520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80065 |

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[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### December 31, 2025

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10.&nbsp;&nbsp;&nbsp;&nbsp;Securities Lending

Each Fund may lend securities to qualified broker-dealers or institutional investors. The loans are secured at all times by cash, cash equivalents or U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. The value of the collateral with respect to a loaned security may be temporarily more or less than the value of a security due to market fluctuations of securities values. With respect to each loan, if on any U.S. business day the aggregate market value of securities collateral plus cash collateral is less than the aggregate market value of the securities which are subject to the loan, the borrower will be notified to provide additional collateral on the next business day.

The Funds will regain record ownership of loaned securities to exercise certain beneficial rights; however, the Funds may bear the risk of delay in recovery of, or even loss of rights in the securities loaned should the borrower fail financially. In addition, a Fund will bear the risk of loss of any cash collateral that it may invest. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash, cash equivalents or U.S. government securities held as collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as the lending agent. Additionally, a Fund will receive a fee from the borrower for non-cash collateral equal to a percentage of the market value of the loaned securities.

The market value of securities on loan as of December 31, 2025, and the value of the invested cash collateral are disclosed in the Funds' Statements of Assets and Liabilities. Non-cash collateral is not disclosed in the Funds' Statements of Assets and Liabilities as it is held by the lending agent on behalf of the Funds and the Funds do not have the ability to re-hypothecate those securities. Securities lending income, as disclosed in the Funds' Statements of Operations, represents the income earned from the non-cash collateral and the investment of cash collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent.

The following is a summary of each Fund's securities lending agreements and related cash and non-cash collateral received as of December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Market Value of<br> Securities on Loan** | **Cash<br> Collateral<br> Received** | **Non-Cash<br> Collateral<br> Received** | **Total<br> Collateral<br> Received** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| $11924304 | $12174495 | $— | $12174495 |
| SPDR Bloomberg International Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;10040872 | &nbsp;&nbsp;&nbsp;10281356 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;10281356 |
| SPDR Bloomberg International Treasury Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358568 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358568 |

---

The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged or securities loaned, and the remaining contractual maturity of those transactions as of December 31, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Remaining Contractual Maturity of the Agreements<br> as of December 31, 2025** | **Remaining Contractual Maturity of the Agreements<br> as of December 31, 2025** | **Remaining Contractual Maturity of the Agreements<br> as of December 31, 2025** | **Remaining Contractual Maturity of the Agreements<br> as of December 31, 2025** | **Remaining Contractual Maturity of the Agreements<br> as of December 31, 2025** | **Remaining Contractual Maturity of the Agreements<br> as of December 31, 2025** |
| **Fund** | **Securities<br> Lending<br> Transactions** | **Overnight<br> and<br> Continuous** | **<30 Days** | **Between<br> 30 & 90<br> Days** | **>90 Days** | **Total<br> Borrowings** | **Gross Amount<br> of Recognized<br> Liabilities for<br> Securities Lending Transactions** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| Foreign Government Obligations | $12174495 | $— | $— | $— | $12174495 | $12174495 |
| SPDR Bloomberg International Corporate Bond ETF<br>| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;10281356 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;10281356 | &nbsp;&nbsp;&nbsp;10281356 |
| SPDR Bloomberg International Treasury Bond ETF<br>| Foreign Government Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358568 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358568 |

---

11.&nbsp;&nbsp;&nbsp;&nbsp;Line of Credit

The Funds, except for the State Street SPDR S&P Leveraged Loan ETF, and other affiliated funds (each, a "Participant" and collectively, the "Participants") have access to $210 million of a $1.425 billion ($194.29 million of $1.36 billion prior to October 2, 2025) revolving credit facility, provided by a syndication of banks under which the

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[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### December 31, 2025

------

Participants may borrow to fund shareholder redemptions. This agreement expires in October 2026 unless extended or renewed.

The Participants are charged an annual commitment fee which is calculated based on the unused portion of the shared credit line. Commitment fees are allocated among each of the Participants based on relative net assets. Commitment fees are ordinary fund operating expenses paid by the Adviser. A Participant incurs and pays the interest expense related to its borrowing. Interest is calculated at a rate per annum equal to the sum of 1.00% plus the greater of the New York Fed Bank Rate.

The Funds had no outstanding loans as of December 31, 2025.

12.&nbsp;&nbsp;&nbsp;&nbsp;Risks

#### Concentration Risk
As a result of the Funds' ability to invest a large percentage of their assets in obligations of issuers within the same country, state, region, currency or economic sector, an adverse economic, business or political development may affect the value of the Funds' investments more than if the Funds were more broadly diversified.

#### Foreign and Emerging Markets Risk
Investing in foreign markets involves risks and considerations not typically associated with investing in the U.S. Foreign securities may be subject to risk of loss because of government regulation, economic, political and social instability in the countries in which the Funds invest. Foreign markets may be less liquid than investments in the U.S. and may be subject to the risks of currency fluctuations. To the extent that the a Fund invests in securities of issuers located in emerging markets, these risks may be even more pronounced.

#### Credit Risk
A Fund may be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which the Fund has unsettled or open transactions defaults.

#### Market Risk
Each Fund's investments are subject to changes in general economic conditions, general market fluctuations and the risks inherent in investment in securities markets. Investment markets can be volatile and prices of investments can change substantially due to various factors including, but not limited to, economic growth or recession, changes in interest rates, changes in the actual or perceived creditworthiness of issuers, and general market liquidity. The Funds are subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Local, regional, or global events such as war, acts of terrorism, the spread of infectious illness, such as COVID-19, or other public health issues, or other events could have a significant impact on a Fund and its investments.

#### Russian Sanctions Risk
Sanctions threatened or imposed by a number of jurisdictions, including the United States, the European Union and the United Kingdom, and other intergovernmental actions that have been or may be undertaken in the future, against Russia, Russian entities or Russian individuals, may result in the devaluation of Russian currency, a downgrade in the country's credit rating, an immediate freeze of Russian assets, a decline in the value and liquidity of Russian securities, property or interests, and/or other adverse consequences to the Russian economy or a Fund. The scope and scale of sanctions in place at a particular time may be expanded or otherwise modified in a way that have negative effects on a Fund. Sanctions, or the threat of new or modified sanctions, could impair the ability of a Fund to buy, sell, hold, receive, deliver or otherwise transact in certain affected securities or other investment instruments. Sanctions could also result in Russia taking counter measures or other actions in response, which may further impair the value and liquidity of Russian securities. These sanctions, and the resulting disruption of the Russian economy, may cause volatility in other regional and global markets and may negatively impact the performance of various sectors and industries, as well as companies in other countries, which could have a negative effect on the performance of a Fund, even if a Fund does not have direct exposure to securities of Russian issuers. As a collective result of the imposition of sanctions, Russian government countermeasures and the impact that they have had on the trading markets for Russian securities, certain Funds have used, and may in the future use, fair valuation procedures approved by the Fund's Board to value certain Russian securities, which could result in such securities being deemed to have a zero value.

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[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### December 31, 2025

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13.&nbsp;&nbsp;&nbsp;&nbsp;Recent Accounting Pronouncement

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid. The Funds have adopted ASU 2023-09 as of December 31, 2025, with no material impact on the Funds' financial statements.

14.&nbsp;&nbsp;&nbsp;&nbsp;Subsequent Events

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were issued and has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements.

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[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

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To the Shareholders of SPDR Bloomberg Emerging Markets Local Bond ETF, SPDR Bloomberg International Corporate Bond ETF, SPDR Bloomberg International Treasury Bond ETF, SPDR Bloomberg Short Term International Treasury Bond ETF, SPDR FTSE International Government Inflation-Protected Bond ETF and State Street SPDR S&P Leveraged Loan ETF and the Board of Trustees of SPDR<sup>®</sup> Series Trust

#### Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of SPDR Bloomberg Emerging Markets Local Bond ETF, SPDR Bloomberg International Corporate Bond ETF, SPDR Bloomberg International Treasury Bond ETF, SPDR Bloomberg Short Term International Treasury Bond ETF, SPDR FTSE International Government Inflation-Protected Bond ETF and State Street SPDR S&P Leveraged Loan ETF (collectively referred to as the "Funds") (six of the series constituting SPDR<sup>®</sup> Series Trust (the "Trust")), including the schedules of investments, as of December 31, 2025, and the related statements of operations and changes in net assets, and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (six of the series constituting SPDR<sup>®</sup> Series Trust) at December 31, 2025, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Individual fund constituting the SPDR<sup>®</sup> Series Trust | &nbsp;&nbsp;Statements of operations | &nbsp;&nbsp;Statements of changes in net assets | &nbsp;&nbsp;Financial highlights |
| &nbsp;&nbsp;SPDR Bloomberg Emerging Markets Local Bond ETF<br> SPDR Bloomberg International Corporate Bond ETF<br> SPDR Bloomberg International Treasury Bond ETF<br> SPDR Bloomberg Short Term International Treasury Bond ETF<br> SPDR FTSE International Government Inflation-Protected Bond ETF | &nbsp;&nbsp;For the year ended December 31, 2025 | &nbsp;&nbsp;For each of the two years in the period ended December 31, 2025 | &nbsp;&nbsp;For each of the five years in the period ended December 31, 2025 |
| &nbsp;&nbsp;State Street SPDR S&P Leveraged Loan ETF | &nbsp;&nbsp;For the period from November 18, 2025 (commencement of operations) through December 31, 2025 | &nbsp;&nbsp;For the period from November 18, 2025 (commencement of operations) through December 31, 2025 | &nbsp;&nbsp;For the period from November 18, 2025 (commencement of operations) through December 31, 2025 |

---

#### Basis for Opinion
These financial statements are the responsibility of the Trust's management. Our responsibility is to express an opinion on each of the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust's internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Trust's internal control over financial reporting. Accordingly, we express no such opinion.

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[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (continued)

------

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2025, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

![](g58388img7ec6e71c2.jpg)

We have served as the auditor of one or more State Street Investment Management (formerly, State Street Global Advisors) investment companies since 2000.

Boston, Massachusetts

February 25, 2026

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### OTHER INFORMATION

#### December 31, 2025 (Unaudited)

------

#### Tax Information
For federal income tax purposes, the following information is furnished with respect to the distributions of the Funds for their fiscal year ended December 31, 2025.

#### Qualified Interest Income
Each Fund reports the maximum amount allowable of its net taxable income and short-term capital gain as qualified interest income.

#### Foreign Tax Credit
The Funds have made an election under the Internal Revenue Code Section 853 to pass through foreign taxes paid by the Funds to its shareholders. For the year ended December 31, 2025, the total amount of foreign taxes that will be passed through are:

---

| | |
|:---|:---|
|  | **Amount** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| $3199522 |

---

#### Foreign Source Income
The amount of foreign source income earned on the Fund during the year ended December 31, 2025 was as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| SPDR Bloomberg Emerging Markets Local Bond ETF<br>| $120338598 |

---

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT

#### December 31, 2025 (Unaudited)

------

#### Statement Regarding Basis for Approval of Investment Advisory Contract
At a meeting held on August 13-14, 2025, the Board of Trustees of the Trust (the "Board") evaluated a proposal to initially approve the Investment Advisory Agreement (the "Advisory Agreement" or "Agreement") between the SPDR Series Trust and SSGA Funds Management, Inc. (the "Adviser" or "SSGA FM") with respect State Street SPDR S&P Leveraged Loan ETF (the "New ETF"), a series of SST. The Trustees who are not "interested persons" of the Trust within the meaning of the Investment Company Act of 1940, as amended (the "Independent Trustees"), also met separately to consider the Agreement. The Independent Trustees were advised by their independent legal counsel throughout the process.

To evaluate the Advisory Agreement, the Board requested and SSGA FM, the Trust's adviser and administrator, and State Street Bank and Trust Company, the Trust's sub-administrator, transfer agent and custodian ("State Street") provided, such materials as the Board, with the advice of counsel, deemed reasonably necessary. In deciding whether to approve the Advisory Agreement, the Board considered various factors, including the nature, extent and quality of services provided by the Adviser with respect to the SPDR ETFs currently under the Agreement, the proposed cost of those services in relation to the services to be provided and in relation to fees charged to comparable funds, other benefits to the Adviser of its relationship with the New ETF, and extent to which economies of scale would be shared as the New ETF grows.

#### Nature, Extent and Quality of Services
The Board considered the nature, extent, and quality of services to be provided by the Adviser. In doing so, the Trustees relied on their prior experience in overseeing the management of the Trust and the materials provided prior to and at the meeting. The Board reviewed the Advisory Agreement and the Adviser's responsibilities for managing investment operations of the New ETF in accordance with the New ETF's investment objectives and policies, and applicable legal and regulatory requirements. The Board appreciated the nature of the New ETF as an exchange-traded fund and the experience and expertise of the Adviser in managing exchange-traded funds. The Board considered the background and experience of the Adviser's senior management, including those individuals responsible for portfolio management and regulatory compliance of the New ETF. The Board also considered the portfolio management resources, structures and practices of the Adviser, including those associated with monitoring and ensuring the New ETF's compliance with its investment objectives and policies, and applicable laws and regulations. The Board also considered the unique nature of certain of the proposed investments of the New ETF and confirmed the adequacy of compliance, operational and valuation resources to be dedicated to the New ETF. The Board further considered information about the Adviser's best execution procedures and overall investment management business, noting that the Adviser serves a wide range of clients across a broad spectrum of asset classes. The Board looked at the Adviser's general knowledge of the investment management business and that of its affiliates, which make up State Street Investment Management (formerly known as "State Street Global Advisors"), through which the Adviser shares all of its senior personnel. The Board specifically considered the Adviser's experience in managing fixed income exchange-traded funds with index-based investment objectives, as well as actively managed exchange-traded funds. The Board also considered the Adviser's role in overseeing third party service providers and sub-advisers, as applicable, that would be engaged to fulfill roles critical to the operations of the New ETF. The Board held a number of supplemental meetings with the Adviser and such service providers in connection with their consideration of the Advisory Agreement.

#### Fees Charged to Comparable Funds
The Board evaluated the New ETF's proposed unitary fee through review of comparative information with respect to fees paid by similar funds – i.e., exchange-traded funds tracking similar fixed income indexes.

The Board reviewed the universe of similar exchange-traded funds for the New ETF based upon data independently obtained from Broadridge Financial Solutions, Inc. ("Broadridge") noting that there were no true comparators. In certain instances as considered appropriate by the Board, the Board explored with management the reasons for the differences between the New ETF's fee and fees paid by other funds in the universe of exchange-traded funds provided by Broadridge.

#### Other Benefits
The Board also considered whether the Adviser or its affiliates benefited in other ways from its relationship with the Trust, noting that the Adviser does not currently maintain soft-dollar arrangements in connection with the Trust's brokerage transactions.

------

[**Table of Contents**](#JOB_AR_SA_f4d86f0a-9115-494a-a544-7ef8a3a570f9_TOC-LETTERSIZE-STANDARD)

#### SPDR SERIES TRUST

#### STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT (continued)

#### December 31, 2025 (Unaudited)

------

#### Economies of Scale
The Board reviewed information regarding economies of scale or other efficiencies that may result as the New ETF's assets grow in size. The Board noted that the advisory fee rate for the New ETF does not provide for breakpoints as assets of the New ETF increase. However, the Board further noted the Adviser's assertion that future economies of scale (among several factors) had been taken into consideration for the New ETF by fixing a relatively low advisory fee, effectively sharing the benefits of lower fees with the New ETF from the time of its inception. The Adviser also asserted that one of the benefits of the unitary fee was to provide an unvarying expense structure, which could be lost or diluted with the addition of breakpoints. The Board noted that it intends to continue to monitor fees as the New ETF grows in size and assess whether fee breakpoints may be warranted.

#### Conclusion
After weighing the foregoing factors, none of which was dispositive in itself and may have been weighed differently by each Trustee, the Board, including the Independent Trustees voting separately, approved the Advisory Agreement for the New ETF. In approving the Advisory Agreement, the Board, including the Independent Trustees voting separately, found that the terms of the Advisory Agreement are fair and reasonable and that the approval of the Advisory Agreement is in the best interests of the New ETF and its shareholders. The Board's conclusions with respect to the factors were as follows: (a) the nature, extent and quality of the services expected to be provided by the Adviser with respect to the New ETF were appropriate; (b) the Adviser's unitary fee for the New ETF, considered in relation to the services expected to be provided, and in relation to the fees charged to comparable funds, was reasonable; and (c) any additional potential benefits to the Adviser or its affiliates were not of a magnitude to materially affect the Board's conclusions. The Independent Trustees were advised by their independent counsel throughout the process.

------

#### Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.

#### Item 9. Proxy Disclosures for Open-End Management Investment Companies
Not applicable.

#### Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
Renumeration Paid to Directors, Officers, and Others of Open-End Investment Companies is included as part of the Financial Statements filed under Item 7(a) of this Form.

#### Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract
Not applicable.

#### Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to the registrant.

#### Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to the registrant.

#### Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to the registrant.

------

#### Item 15. Submission of Matters to a Vote of Security Holders.
The registrant has not adopted any material changes to the procedures by which shareholders may recommend nominees to the registrant's Board.

#### Item 16. Controls and Procedures.
(a) Within 90 days of the filing date of this Form N-CSR, Ann M. Carpenter, the registrant's President and Principal Executive Officer, and Bruce S. Rosenberg, the registrant's Treasurer and Principal Financial Officer, reviewed the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the 1940 Act) and evaluated their effectiveness. Based on their review, Ms. Carpenter and Mr. Rosenberg determined that the disclosure controls and procedures adequately ensure that information required to be disclosed by the registrant in its periodic reports is recorded, processed, summarized and reported within the time periods required by the U.S. Securities and Exchange Commission.

(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

#### Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
(a) Not applicable to the registrant.

(b) Not applicable to the registrant.

#### Item 18. Recovery of Erroneously Awarded Compensation
Not applicable to the registrant.

#### Item 19. Exhibits.
(a)(1) [Code of Ethics referred to in Item 2.](d58388dex99codeeth.htm)

(a)(2) Not applicable to the registrant.

(a)(3) [Separate certifications required by Rule 30a-2(a) under the 1940 Act for each principal executive officer and principal financial officer of the registrant are attached.](d58388dex99906cert.htm)

(a)(4) Not applicable to the registrant.

(a)(5) Not applicable.

(b) [A single certification required by Rule 30a-2(b) under the 1940 Act, Rule 13a-14(b) or Rule 15d-14(b) under the 1934 Act and Section 1350 of Chapter 63 of Title 18 of the United States Code for the principal executive officer and principal financial officer of the registrant is attached.](d58388dex99906cert1.htm)

(101) Inline Interactive Data File - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document.

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

#### SPDR<sup>®</sup> Series Trust

---

| | |
|:---|:---|
|  By: | /s/ Ann M. Carpenter |
|  | Ann M. Carpenter<br> President and Principal Executive Officer |

---

Date: March 9, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: | /s/ Ann M. Carpenter |
|  | Ann M. Carpenter<br> President and Principal Executive Officer |

---

Date: March 9, 2026

---

| | |
|:---|:---|
|  By: | /s/ Bruce S. Rosenberg |
|  | Bruce S. Rosenberg<br> Treasurer and Principal Financial Officer |

---

Date: March 9, 2026

## Ex-99.Code

**Exhibit 19(a)(1)** 

**SPDR<sup>®</sup> Series Trust** 

**SPDR<sup>®</sup> Index Shares Funds** 

**SSGA Active Trust** 

**(each, a "Trust," and, collectively the "Trusts")** 

**<u>CODE OF CONDUCT FOR PRINCIPAL EXECUTIVE AND</u>**

**<u>PRINCIPAL FINANCIAL OFFICERS</u>**

**I.** **Covered Officers/Purpose of the Code** 

This Code of Conduct (the "Code") shall apply to each Trust's Principal Executive Officer, Principal Financial Officer, Controller, Principal Accounting Officer and persons performing similar functions (the "Covered Officers," each of whom is named in <u>Exhibit A</u> attached hereto) for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between
personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• full, fair, accurate, timely and understandable disclosure in reports and documents that each Trust files with,
or submits to, the Securities and Exchange Commission ("SEC") and in other public communications made by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the
Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• accountability for adherence to the Code.

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

**II.** **Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest** 

*Overview*. A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his or her service to, a Trust. For example, a conflict of interest would arise if a Covered Officer, or a member of his or her family, receives improper personal benefits as a result of his or her position with a Trust. Covered Officers must avoid conduct that conflicts, or appears to conflict, with their duties to a Trust. All Covered Officers should conduct themselves such that a reasonable observer would have no grounds for belief that a conflict of interest exists. Covered Officers are not permitted to self-deal or otherwise use their positions with a Trust to further their own or any other related person's business opportunities.

This Code does not, and is not intended to, repeat or replace the compliance programs and procedures or codes of ethics of each Trust or each Trust's investment adviser (the "Adviser")<sup>1</sup> or distributor.

<sup>1</sup> Any reference to Adviser with respect to a Trust may include reference to any investment sub-adviser for a series of the Trust.

------

Although typically not presenting an opportunity for improper personal benefit, conflicts may arise from, or as a result of, the contractual relationship between a Trust and its service providers, including Adviser, of which the Covered Officers may be officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for a Trust, the Adviser, or other service providers), be involved in establishing policies and implementing decisions that will have different effects on the service providers and the Trusts. The participation of the Covered Officers in such activities is inherent in the contractual relationship between a Trust and its service providers and is consistent with the performance by the Covered Officers of their duties as officers of the Trust. Thus, if performed in conformity with the provisions of the Investment Company Act of 1940, as amended ("Investment Company Act") and the Investment Advisers Act of 1940, as amended ("Investment Advisers Act"), such activities will be deemed to have been handled ethically. In addition, it is recognized by each Trust's Board of Trustees (the "Board") that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of a Trust.

\* \* \* \*

Each Covered Officer must not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• use his or her personal influence or personal relationship improperly to influence investment decisions or
financial reporting by a Trust whereby the Covered Officer would benefit personally to the detriment of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cause a Trust to take action, or fail to take action, for the individual personal benefit of the Covered Officer
rather than the benefit of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• retaliate against any other Covered Officer or any employee of a Trust or its affiliated persons for reports of
potential violations by the Trust of applicable rules and regulations that are made in good faith; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• use material non-public knowledge of portfolio transactions made or
contemplated for the series of a Trust to trade personally or cause others to trade personally in contemplation of the market effect of such transactions.

Each Covered Officer must discuss certain material conflict of interest situations with a Trust's Audit Committee. Examples of such situations include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• service as a director, trustee, general partner, or officer of any unaffiliated business organization. This rule
does not apply to charitable, civic, religious, public, political, or social organizations, the activities of which do not conflict with the interests of a Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the receipt of any gifts, excluding branded promotional items valued at U.S. 50$ or less;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the receipt of any entertainment from any company with which a Trust has current or prospective business dealings
unless such entertainment is business-related, reasonable in cost, appropriate as to time and place, and not so frequent as raise any question of impropriety;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any ownership interest in, or any consulting or employment relationship with, any of a Trust's service
providers, other than its Adviser, principal underwriter, administrator, sub-administrator, transfer agent, custodian or any affiliated person thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a direct or indirect financial interest in commissions, transaction charges or spreads paid by a Trust for
effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment, such as compensation or equity ownership.

**III.** **Disclosure and Conduct** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Covered Officer will monitor the compliance of each Trust and the Trust's service providers with
federal or state statutes, regulations or administrative procedures that affect the operation of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about a Trust to
others, whether within or outside the Trust, including to the Trust's Board, the Trust's Audit Committee, the Trust's independent auditors, governmental regulators, self-regulators and self-regulatory organizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Covered Officer should, to the extent appropriate within his or her area of responsibility, consult with
other officers and employees of a Trust and its service providers with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Trust files with, or submits to, the SEC and in other public
communications made by the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Covered Officer will exhibit and promote the highest standards of honest and ethical conduct through the
establishment and operation of policies and procedures that encourage professional integrity in all aspects of each Trust's operations.

**IV.** **Compliance with Applicable Laws and Regulations** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Trust's Audit Committee is responsible for applying this Code to specific situations in which
questions are presented under it and has the authority to interpret this Code in any particular situation, including providing any approvals or waivers sought by the Covered Persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• It is the responsibility of each Covered Officer to promote compliance with the standards and restrictions
imposed by applicable laws, rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In the event of any question of interpretation of the requirements under this Code, Covered Officers shall
consult with the Audit Committee in order to assure compliance with the Code.

------

**V.** **Reporting and Accountability** 

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• upon adoption of this Code (or thereafter as applicable, upon becoming a Covered Officer), sign and return a
report in the form of <u>Exhibit B</u> to each Trust's compliance officer affirming that he or she has received, read, and understands the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• annually sign and return a report in the form of <u>Exhibit C</u> to each Trust's compliance officer as an
affirmation that he or she has complied with the requirements of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• notify a Trust's Audit Committee promptly if he or she knows of any violation of this Code. Failure to do
so is itself a violation of this Code.

The Audit Committee will follow these procedures in investigating and enforcing thisCode:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Audit Committee will take all appropriate actions to investigate any potential violations reported to the
Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If, after such investigation, the Audit Committee believes that no violation has occurred, the Audit Committee is
not required to take any further action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any matter that the Audit Committee believes is a violation of this Code will be reported to the full Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the Board concurs that a violation has occurred, it will notify the appropriate personnel of the applicable
service provider and may dismiss the Covered Officer as an officer of the Trusts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Audit Committee will be responsible for granting waivers of provisions of this Code, as appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules.

**VI.** **Other Policies and Procedures** 

This Code shall be the sole code of ethics adopted by each Trust's for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of each Trust, each Trust's Adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The Trusts' Adviser's and principal underwriter's codes of ethics under Rule 17j-1 under the Investment Company Act and the Adviser's more detailed policies and procedures are separate requirements applying to the Covered Officers and others, and are not part of this Code.

**VII.** **Amendments** 

Any amendments to this Code, other than amendments to <u>Exhibit A</u>, must be approved or ratified by a majority vote of the Board, including a majority of Independent Trustees.

------

**VIII.** **Confidentiality** 

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Trusts' Board or Audit Committee.

**IX.** **Internal Use** 

The Code is intended solely for the internal use by each Trust and does not constitute an admission, by or on behalf of a Trust, as to any fact, circumstance, or legal conclusion.

Adopted (SPDR<sup>®</sup> Series Trust): August 18, 2003

Adopted (SPDR<sup>®</sup> Index Shares Funds): July 1, 2004

Updated: August 1, 2007

Amended: November 18, 2010

Adopted (SSGA Master Trust/SSGA Active Trust)/Amended: May 25, 2011

Updated: November 17, 2015

Amended on: February 23, 2017

Removal (SSGA Master Trust): September 23, 2020

------

EXHIBIT A

Persons Covered by this Code of Conduct:

---

| | |
|:---|:---|
| **Title** | **Name** |
| President, Chief Executive Officer and Principal Executive Officer | Ann M. Carpenter |
| Treasurer, Chief Financial Officer and Principal Financial Officer | Bruce S. Rosenberg |

---

------

EXHIBIT B

INITIAL CERTIFICATION FORM

This is to certify that I have read and understand the Code of Conduct for Principal Executive and Principal Financial Officers of SPDR<sup>®</sup> Series Trust, SPDR<sup>®</sup> Index Shares Funds and SSGA Active Trust and that I recognize that I am subject to the provisions thereof and will comply with the policy and procedures stated therein.

---

| |
|:---|
| Please sign your name here: |
| Please print your name here: |
| Please date here: |

---

------

EXHIBIT C

ANNUAL CERTIFICATION FORM

This is to certify that I have read and understand the Code of Conduct for Principal Executive and Senior Financial Officers of SPDR<sup>®</sup> Series Trust, SPDR<sup>®</sup> Index Shares Funds SSGA Active Trust (the "Code") and that I recognize that I am subject to the provisions thereof and will comply with the policy and procedures stated therein.

This is to further certify that I have complied with the policies and procedures set forth in each Code during my tenure as a Covered Officer, as defined in the Code.

---

| |
|:---|
| Please sign your name here: |
| Please print your name here: |
| Please date here: |

---

## Exhibit 99.906

**Exhibit 19(a)(3)** 

**<u>CERTIFICATIONS</u>**

I, Ann M. Carpenter, President and Principal Executive Officer of SPDR<sup>®</sup> Series Trust, certify that:

1. I have reviewed this report on Form N-CSR of SPDR<sup>®</sup> Series Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

Date: March 9, 2026

---

| | |
|:---|:---|
| By: | /s/ Ann M. Carpenter |
|  | Ann M. Carpenter |
|  | President and Principal Executive Officer |

---

------

I, Bruce S. Rosenberg, Treasurer and Principal Financial Officer of SPDR<sup>®</sup> Series Trust, certify that:

1. I have reviewed this report on Form N-CSR of SPDR<sup>®</sup> Series Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

Date: March 9, 2026

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| | |
|:---|:---|
| By: | /s/ Bruce S. Rosenberg |
|  | Bruce S. Rosenberg |
|  | Treasurer and Principal Financial Officer |

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## Exhibit 99.906

**Exhibit 19(b)** 

**SECTION 906 CERTIFICATION** 

I, Ann M. Carpenter, President and Principal Executive Officer, and I, Bruce S. Rosenberg, Treasurer and Principal Financial Officer, of SPDR<sup>®</sup> Series Trust (the "Trust") each certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. This Form N-CSR filing for the Trust (the "Report") fully
complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and
results of operations of the Trust.

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| | |
|:---|:---|
| By: | /s/ Ann M. Carpenter |
|  | Ann M. Carpenter |
|  | President and Principal Executive Officer |

---

Date: March 9, 2026

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| | |
|:---|:---|
| By: | /s/ Bruce S. Rosenberg |
|  | Bruce S. Rosenberg |
|  | Treasurer and Principal Financial Officer |

---

Date: March 9, 2026