# EDGAR Filing Document

**Accession Number:** 0001516212
**File Stem:** 0001193125-25-262344
**Filing Date:** 2025-11
**Character Count:** 715002
**Document Hash:** 27028bed7cf4debbdaa0da0bb250c358
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-262344.hdr.sgml**: 20251103

**ACCESSION NUMBER**: 0001193125-25-262344

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251103

**DATE AS OF CHANGE**: 20251103

**EFFECTIVENESS DATE**: 20251103

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22542
- **FILM NUMBER:** 251443537

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

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

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

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

## Series and Classes Contracts Data

### SPDR SSGA My2026 Corporate Bond ETF (Series ID: S000087942)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253970 | SPDR SSGA My2026 Corporate Bond ETF | MYCF            |

### SPDR SSGA My2026 Municipal Bond ETF (Series ID: S000087943)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253971 | SPDR SSGA My2026 Municipal Bond ETF | MYMF            |

### SPDR SSGA My2027 Municipal Bond ETF (Series ID: S000087944)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253972 | SPDR SSGA My2027 Municipal Bond ETF | MYMG            |

### SPDR SSGA My2028 Municipal Bond ETF (Series ID: S000087945)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253973 | SPDR SSGA My2028 Municipal Bond ETF | MYMH            |

### SPDR SSGA My2029 Municipal Bond ETF (Series ID: S000087946)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253974 | SPDR SSGA My2029 Municipal Bond ETF | MYMI            |

### SPDR SSGA My2030 Municipal Bond ETF (Series ID: S000087947)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253975 | SPDR SSGA My2030 Municipal Bond ETF | MYMJ            |

### SPDR SSGA My2027 Corporate Bond ETF (Series ID: S000087948)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253976 | SPDR SSGA My2027 Corporate Bond ETF | MYCG            |

### SPDR SSGA My2028 Corporate Bond ETF (Series ID: S000087949)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253977 | SPDR SSGA My2028 Corporate Bond ETF | MYCH            |

### SPDR SSGA My2029 Corporate Bond ETF (Series ID: S000087950)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253978 | SPDR SSGA My2029 Corporate Bond ETF | MYCI            |

### SPDR SSGA My2030 Corporate Bond ETF (Series ID: S000087951)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253979 | SPDR SSGA My2030 Corporate Bond ETF | MYCJ            |

### SPDR SSGA My2031 Corporate Bond ETF (Series ID: S000087952)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253980 | SPDR SSGA My2031 Corporate Bond ETF | MYCK            |

### SPDR SSGA My2032 Corporate Bond ETF (Series ID: S000087953)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253981 | SPDR SSGA My2032 Corporate Bond ETF | MYCL            |

### SPDR SSGA My2033 Corporate Bond ETF (Series ID: S000087954)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253982 | SPDR SSGA My2033 Corporate Bond ETF | MYCM            |

### SPDR SSGA My2034 Corporate Bond ETF (Series ID: S000087955)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000253983 | SPDR SSGA My2034 Corporate Bond ETF | MYCN            |

?xml version='1.0' encoding='ASCII'? SSGA Active 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: 811-22542

## SSGA ACTIVE 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: August 31

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

------

#### Item 1. Report to Shareholders.
(a) The Reports to Shareholders are attached herewith.

# SPDR SSGA My2026 Corporate Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYCF

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2026 Corporate Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2026 Corporate Bond ETF | $14 | 0.15% |

---

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?
Spreads have been incredibly resilient throughout the year. While uncertainty remains with respect to U.S. policy, the volatility we saw post "Liberation Day" was short lived. Valuations continue to look rich with spreads trading at the tight end of the range over the last 20 years. However, the macro backdrop remains solid and corporate fundamentals should continue to be supportive of current valuations.

Positive contributions to performance for the year were driven by security selection in several sectors including Aerospace & Defense, Cable & Satellite, Media & Entertainment, Food & Beverage, and Technology. We also maintained a down-in-quality bias earlier in the year that contributed to performance. As spreads continued to rally back to the tight end of the multi-year range and as the basis between the higher-quality and lower-quality segments of the market compressed to unattractive levels, we began to reduce our overweight to BBB-rated securities in favor of higher-quality securities.

## 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](g62600i70ea7d8993dba2c97005.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYCF** | **Bloomberg U.S. Aggregate Bond Index** | **ICE 2026 Maturity U.S. Corporate Index** |
| **09/24/24** | $10000 | $9967 | $9999 |
| **09/30/24** | $10016 | $9967 | $9999 |
| **10/31/24** | $10004 | $9720 | $9971 |
| **11/30/24** | $10051 | $9823 | $10011 |
| **12/31/24** | $10083 | $9662 | $10044 |
| **01/31/25** | $10130 | $9714 | $10092 |
| **02/28/25** | $10182 | $9927 | $10148 |
| **03/31/25** | $10219 | $9931 | $10184 |
| **04/30/25** | $10259 | $9970 | $10227 |
| **05/31/25** | $10291 | $9899 | $10255 |
| **06/30/25** | $10341 | $10051 | $10307 |
| **07/31/25** | $10376 | $10024 | $10335 |
| **08/31/25** | $10433 | $10144 | $10392 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYCF | 4.33%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Aggregate Bond Index | 1.44% |
| ICE 2026 Maturity U.S. Corporate Index | 3.92% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$33,888,564

* Number of Portfolio Holdings249

* Portfolio Turnover Rate42%

* Total Advisory Fees Paid$24,390

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten Industries** 

---

| | |
|:---|:---|
| **Industries** | **%** |
| Banks | 21.4% |
| Electric | 7.3% |
| Real Estate Investment Trusts | 6.7% |
| Pharmaceuticals | 5.6% |
| Diversified Financial Services | 4.8% |
| Oil & Gas | 4.6% |
| Auto Manufacturers | 4.2% |
| Semiconductors | 3.6% |
| Telecommunications | 3.0% |
| Food | 2.7% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Vornado Realty LP, 2.15%, due 06/01/26 | 1.6% |
| Utah Acquisition Sub, Inc., 3.95%, due 06/15/26 | 1.5% |
| U.S. Bancorp, 5.73%, due 10/21/26 | 1.3% |
| Royal Bank of Canada, 4.65%, due 01/27/26 | 1.3% |
| Banco Santander SA, 4.25%, due 04/11/27 | 1.2% |
| Charter Communications Operating LLC/Charter Communications Operating Capital, 6.15%, due 11/10/26 | 1.1% |
| Sands China Ltd., 3.80%, due 01/08/26 | 1.0% |
| Imperial Brands Finance PLC, 3.50%, due 07/26/26 | 1.0% |
| GXO Logistics, Inc., 1.65%, due 07/15/26 | 1.0% |
| Lloyds Banking Group PLC, 4.65%, due 03/24/26 | 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 MYCF

# SPDR SSGA My2026 Municipal Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYMF

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2026 Municipal Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2026 Municipal Bond ETF | $19 | 0.20% |

---

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?
The municipal market has seen greater than average issuance over the past eleven months. Volatility has been higher as a result of uncertainty introduced into the market surrounding the fate of municipal tax-exemption prior to the passage of the federal budget. In response, investor demand was concentrated shorter on the yield curve causing the long yields to move higher in order to compensate investors for higher perceived risk. The convexity in the portfolio caused some bonds in the portfolio to extend in duration which underperformed the broader market. The higher portfolio weighting of these bonds, a function of the small AUM, versus the Index, generated the Fund underperformance relative to the Index. We continue to decrease the Fund's sensitivity to increases in rates by selling lower coupon bonds. The Fund has continued to meet its income objective by providing excess income relative to the benchmark (25 bps Yield To Worst) as well as peers (4-52 bps dividend yield).

## 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](g62600ia1a8b83ab5c6e20c7c13.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYMF** | **Bloomberg U.S. Municipal Bond Index** | **ICE 2026 Maturity U.S. Broad Municipal Index** |
| **09/24/24** | $10000 | $10013 | $10007 |
| **09/30/24** | $10028 | $10013 | $10007 |
| **10/31/24** | $9975 | $9867 | $9967 |
| **11/30/24** | $10048 | $10037 | $10015 |
| **12/31/24** | $10023 | $9891 | $10000 |
| **01/31/25** | $10065 | $9940 | $10049 |
| **02/28/25** | $10114 | $10039 | $10092 |
| **03/31/25** | $10090 | $9869 | $10078 |
| **04/30/25** | $10060 | $9789 | $10067 |
| **05/31/25** | $10095 | $9796 | $10105 |
| **06/30/25** | $10143 | $9857 | $10150 |
| **07/31/25** | $10170 | $9837 | $10191 |
| **08/31/25** | $10215 | $9922 | $10229 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYMF | 2.15%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Municipal Bond Index | (0.78%) |
| ICE 2026 Maturity U.S. Broad Municipal Index | 2.29% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$7,467,512

* Number of Portfolio Holdings59

* Portfolio Turnover Rate48%

* Total Advisory Fees Paid$9,353

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten States** 

---

| | |
|:---|:---|
| **States** | **%** |
| New York | 9.2% |
| Texas | 8.0% |
| Pennsylvania | 7.2% |
| Washington | 6.2% |
| Ohio | 5.4% |
| Delaware | 5.2% |
| Colorado | 4.8% |
| Michigan | 4.6% |
| Illinois | 4.0% |
| California | 3.6% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Ohio Water Development Authority Revenue, OH, 5.00%, due 06/01/26 | 3.8% |
| Delaware Transportation Authority Revenue, DE, 5.00%, due 09/01/26 | 3.1% |
| State Public School Building Authority Revenue, PA, 5.00%, due 06/01/36 | 3.0% |
| Grand Rapids Public Schools, General Obligation, MI, 5.00%, due 05/01/38 | 3.0% |
| Commonwealth of Pennsylvania, General Obligation, PA, 4.00%, due 02/01/33 | 3.0% |
| City of Waxahachie, General Obligation, TX, 4.00%, due 08/01/36 | 3.0% |
| Illinois Finance Authority Revenue, IL, 4.00%, due 10/01/34 | 3.0% |
| New York City Transitional Finance Authority Future Tax Secured Revenue, NY, 4.00%, due 08/01/37 | 3.0% |
| Arcadia Unified School District, General Obligation, CA, 4.00%, due 08/01/38 | 3.0% |
| State of Connecticut Special Tax Revenue, CT, 5.00%, due 09/01/27 | 2.7% |

---

#### 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 MYMF

# SPDR SSGA My2027 Corporate Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYCG

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2027 Corporate Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2027 Corporate Bond ETF | $14 | 0.15% |

---

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?
Spreads have been incredibly resilient throughout the year. While uncertainty remains with respect to U.S. policy, the volatility we saw post "Liberation Day" was short lived. Valuations continue to look rich with spreads trading at the tight end of the range over the last 20 years. However, the macro backdrop remains solid and corporate fundamentals should continue to be supportive of current valuations.

Positive contributions to performance for the year were driven by security selection in several sectors including Aerospace & Defense, Cable & Satellite, Media & Entertainment, Food & Beverage, and Technology. We also maintained a down-in-quality bias earlier in the year that contributed to performance. As spreads continued to rally back to the tight end of the multi-year range and as the basis between the higher-quality and lower-quality segments of the market compressed to unattractive levels, we began to reduce our overweight to BBB-rated securities in favor of higher-quality securities.

## 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](g62600i57eb85a7dec3a4a08a5d.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYCG** | **Bloomberg U.S. Aggregate Bond Index** | **ICE 2027 Maturity U.S. Corporate Index** |
| **09/24/24** | $10000 | $9967 | $9992 |
| **09/30/24** | $10001 | $9967 | $9992 |
| **10/31/24** | $9924 | $9720 | $9913 |
| **11/30/24** | $9984 | $9823 | $9964 |
| **12/31/24** | $9988 | $9662 | $9972 |
| **01/31/25** | $10031 | $9714 | $10021 |
| **02/28/25** | $10106 | $9927 | $10098 |
| **03/31/25** | $10151 | $9931 | $10142 |
| **04/30/25** | $10209 | $9970 | $10205 |
| **05/31/25** | $10225 | $9899 | $10219 |
| **06/30/25** | $10295 | $10051 | $10290 |
| **07/31/25** | $10313 | $10024 | $10298 |
| **08/31/25** | $10397 | $10144 | $10386 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYCG | 3.97%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Aggregate Bond Index | 1.44% |
| ICE 2027 Maturity U.S. Corporate Index | 3.86% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$21,297,102

* Number of Portfolio Holdings202

* Portfolio Turnover Rate13%

* Total Advisory Fees Paid$17,204

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten Industries** 

---

| | |
|:---|:---|
| **Industries** | **%** |
| Banks | 12.0% |
| Electric | 11.4% |
| Pharmaceuticals | 6.0% |
| Telecommunications | 4.3% |
| Real Estate Investment Trusts | 4.2% |
| Auto Manufacturers | 4.2% |
| Aerospace & Defense | 4.2% |
| Diversified Financial Services | 4.0% |
| Semiconductors | 3.7% |
| Oil & Gas | 3.6% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| General Motors Co., 6.80%, due 10/01/27 | 1.8% |
| AbbVie, Inc., 4.80%, due 03/15/27 | 1.6% |
| BAT Capital Corp., 4.70%, due 04/02/27 | 1.5% |
| Ford Motor Credit Co. LLC, 5.80%, due 03/05/27 | 1.5% |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 6.45%, due 04/15/27 | 1.3% |
| Glencore Funding LLC, 4.00%, due 03/27/27 | 1.2% |
| L3Harris Technologies, Inc., 5.40%, due 01/15/27 | 1.2% |
| HCA, Inc., 4.50%, due 02/15/27 | 1.1% |
| Berry Global, Inc., 1.65%, due 01/15/27 | 1.1% |
| Howmet Aerospace, Inc., 5.90%, due 02/01/27 | 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 MYCG

# SPDR SSGA My2027 Municipal Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYMG

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2027 Municipal Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2027 Municipal Bond ETF | $19 | 0.20% |

---

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?
The municipal market has seen greater than average issuance over the past eleven months. Volatility has been higher as a result of uncertainty introduced into the market surrounding the fate of municipal tax-exemption prior to the passage of the federal budget. In response, investor demand was concentrated shorter on the yield curve causing the long yields to move higher in order to compensate investors for higher perceived risk. The convexity in the portfolio caused some bonds in the portfolio to extend in duration which underperformed the broader market. The higher portfolio weighting of these bonds, a function of the small AUM, versus the Index, generated the Fund underperformance relative to the Index. We continue to decrease the Fund's sensitivity to increases in rates by selling lower coupon bonds. The Fund has continued to meet its income objective by providing excess income relative to the benchmark (13 bps Yield To Worst) as well as peers (33-63 bps dividend yield).

## 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](g62600i722936472e6b86372cb5.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYMG** | **Bloomberg U.S. Municipal Bond Index** | **ICE 2027 Maturity U.S. Broad Municipal Index** |
| **09/24/24** | $10000 | $10013 | $10011 |
| **09/30/24** | $10022 | $10013 | $10011 |
| **10/31/24** | $9937 | $9867 | $9948 |
| **11/30/24** | $10029 | $10037 | $10014 |
| **12/31/24** | $9989 | $9891 | $9970 |
| **01/31/25** | $10020 | $9940 | $10014 |
| **02/28/25** | $10073 | $10039 | $10073 |
| **03/31/25** | $10017 | $9869 | $10035 |
| **04/30/25** | $9952 | $9789 | $10008 |
| **05/31/25** | $9993 | $9796 | $10057 |
| **06/30/25** | $10049 | $9857 | $10118 |
| **07/31/25** | $10069 | $9837 | $10161 |
| **08/31/25** | $10140 | $9922 | $10213 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYMG | 1.40%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Municipal Bond Index | (0.78%) |
| ICE 2027 Maturity U.S. Broad Municipal Index | 2.13% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$6,168,684

* Number of Portfolio Holdings60

* Portfolio Turnover Rate87%

* Total Advisory Fees Paid$9,280

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten States** 

---

| | |
|:---|:---|
| **States** | **%** |
| Illinois | 10.3% |
| Texas | 10.0% |
| New York | 8.3% |
| Pennsylvania | 5.5% |
| Iowa | 5.5% |
| Tennessee | 5.1% |
| District of Columbia | 4.8% |
| Wisconsin | 4.7% |
| Georgia | 4.7% |
| Virginia | 4.7% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Trinity River Authority Central Regional Wastewater System Revenue, TX, 5.00%, due 08/01/26 | 4.6% |
| Green Bay Area Public School District, General Obligation, WI, 5.00%, due 04/01/27 | 4.2% |
| Virginia Public Building Authority Revenue, VA, 5.00%, due 08/01/27 | 3.8% |
| North Carolina Turnpike Authority Revenue, NC, 5.00%, due 01/01/32 | 3.7% |
| Metropolitan Government of Nashville & Davidson County, General Obligation, TN, 5.00%, due 01/01/27 | 3.7% |
| Valley Park Fire Protection District, General Obligation, MO, 4.00%, due 03/01/37 | 3.7% |
| State of Connecticut Special Tax Revenue, CT, 5.00%, due 09/01/27 | 3.6% |
| State of Iowa Board of Regents Revenue, IA, 5.00%, due 09/01/27 | 3.4% |
| Village of Rosemont, General Obligation, IL, 5.00%, due 12/01/46 | 3.3% |
| Village of Elk Grove Village, General Obligation, IL, 5.00%, due 01/01/36 | 3.3% |

---

#### 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 MYMG

# SPDR SSGA My2028 Corporate Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYCH

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2028 Corporate Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2028 Corporate Bond ETF | $14 | 0.15% |

---

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?
Spreads have been incredibly resilient throughout the year. While uncertainty remains with respect to U.S. policy, the volatility we saw post "Liberation Day" was short lived. Valuations continue to look rich with spreads trading at the tight end of the range over the last 20 years. However, the macro backdrop remains solid and corporate fundamentals should continue to be supportive of current valuations.

Positive contributions to performance for the year were driven by security selection in several sectors including Aerospace & Defense, Cable & Satellite, Media & Entertainment, Food & Beverage, and Technology. We also maintained a down-in-quality bias earlier in the year that contributed to performance. As spreads continued to rally back to the tight end of the multi-year range and as the basis between the higher-quality and lower-quality segments of the market compressed to unattractive levels, we began to reduce our overweight to BBB-rated securities in favor of higher-quality securities.

## 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](g62600if1b154b76c8076475162.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYCH** | **Bloomberg U.S. Aggregate Bond Index** | **ICE 2028 Maturity U.S. Corporate Index** |
| **09/24/24** | $10000 | $9967 | $9992 |
| **09/30/24** | $9999 | $9967 | $9992 |
| **10/31/24** | $9873 | $9720 | $9866 |
| **11/30/24** | $9956 | $9823 | $9939 |
| **12/31/24** | $9912 | $9662 | $9900 |
| **01/31/25** | $9975 | $9714 | $9968 |
| **02/28/25** | $10085 | $9927 | $10080 |
| **03/31/25** | $10131 | $9931 | $10122 |
| **04/30/25** | $10203 | $9970 | $10203 |
| **05/31/25** | $10222 | $9899 | $10218 |
| **06/30/25** | $10318 | $10051 | $10307 |
| **07/31/25** | $10322 | $10024 | $10312 |
| **08/31/25** | $10433 | $10144 | $10425 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYCH | 4.33%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Aggregate Bond Index | 1.44% |
| ICE 2028 Maturity U.S. Corporate Index | 4.25% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$26,358,230

* Number of Portfolio Holdings145

* Portfolio Turnover Rate14%

* Total Advisory Fees Paid$22,227

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten Industries** 

---

| | |
|:---|:---|
| **Industries** | **%** |
| Banks | 12.0% |
| Electric | 8.6% |
| Semiconductors | 8.2% |
| Pharmaceuticals | 7.3% |
| Oil & Gas | 4.8% |
| Pipelines | 4.7% |
| Real Estate Investment Trusts | 4.4% |
| Software | 4.0% |
| Aerospace & Defense | 3.9% |
| Agriculture | 3.8% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Micron Technology, Inc., 5.38%, due 04/15/28 | 2.8% |
| Kenvue, Inc., 5.05%, due 03/22/28 | 2.6% |
| T-Mobile USA, Inc., 4.80%, due 07/15/28 | 1.8% |
| CVS Health Corp., 4.30%, due 03/25/28 | 1.8% |
| Toyota Motor Corp., 5.12%, due 07/13/28 | 1.8% |
| Extra Space Storage LP, 5.70%, due 04/01/28 | 1.7% |
| JPMorgan Chase & Co., 4.01%, due 04/23/29 | 1.7% |
| L3Harris Technologies, Inc., 4.40%, due 06/15/28 | 1.6% |
| Broadcom, Inc., 4.11%, due 09/15/28 | 1.6% |
| Astrazeneca Finance LLC, 4.88%, due 03/03/28 | 1.5% |

---

#### 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 MYCH

# SPDR SSGA My2028 Municipal Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYMH

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2028 Municipal Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2028 Municipal Bond ETF | $19 | 0.20% |

---

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?
The municipal market has seen greater than average issuance over the past eleven months. Volatility has been higher as a result of uncertainty introduced into the market surrounding the fate of municipal tax-exemption prior to the passage of the federal budget. In response, investor demand was concentrated shorter on the yield curve causing the long yields to move higher in order to compensate investors for higher perceived risk. The convexity in the portfolio caused some bonds in the portfolio to extend in duration which underperformed the broader market. The higher portfolio weighting of these bonds, a function of the small AUM, versus the Index, generated the Fund underperformance relative to the Index. We continue to decrease the Fund's sensitivity to increases in rates by selling lower coupon bonds. The Fund has continued to meet its income objective by providing excess income relative to the benchmark (31 bps Yield To Worst) as well as peers (11-73 bps dividend yield).

## 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](g62600i1f25c39f9533ed1d33eb.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYMH** | **Bloomberg U.S. Municipal Bond Index** | **ICE 2028 Maturity U.S. Broad Municipal Index** |
| **09/24/24** | $10000 | $10013 | $10016 |
| **09/30/24** | $10019 | $10013 | $10016 |
| **10/31/24** | $9885 | $9867 | $9925 |
| **11/30/24** | $9985 | $10037 | $10012 |
| **12/31/24** | $9914 | $9891 | $9942 |
| **01/31/25** | $9950 | $9940 | $9985 |
| **02/28/25** | $10014 | $10039 | $10061 |
| **03/31/25** | $9943 | $9869 | $9994 |
| **04/30/25** | $9904 | $9789 | $9955 |
| **05/31/25** | $9919 | $9796 | $10008 |
| **06/30/25** | $9981 | $9857 | $10081 |
| **07/31/25** | $9989 | $9837 | $10130 |
| **08/31/25** | $10044 | $9922 | $10199 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYMH | 0.44%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Municipal Bond Index | (0.78%) |
| ICE 2028 Maturity U.S. Broad Municipal Index | 1.99% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$4,890,672

* Number of Portfolio Holdings48

* Portfolio Turnover Rate96%

* Total Advisory Fees Paid$9,197

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten States** 

---

| | |
|:---|:---|
| **States** | **%** |
| Texas | 19.6% |
| Ohio | 9.2% |
| Pennsylvania | 8.2% |
| Florida | 7.6% |
| Michigan | 7.5% |
| Georgia | 6.9% |
| California | 5.4% |
| Virginia | 5.4% |
| Connecticut | 4.9% |
| Illinois | 3.7% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| State of Connecticut, General Obligation, CT, 5.00%, due 03/15/28 | 4.9% |
| Municipal Electric Authority of Georgia Revenue, GA, 5.00%, due 01/01/28 | 4.7% |
| Texas Water Development Board Revenue, TX, 5.00%, due 04/15/49 | 4.6% |
| Ohio Higher Educational Facility Commission Revenue, OH, 4.00%, due 12/01/35 | 4.6% |
| Hurst-Euless-Bedford Independent School District, General Obligation, TX, 4.00%, due 08/15/38 | 4.5% |
| City of Columbus, General Obligation, OH, 5.00%, due 04/01/28 | 4.4% |
| Virginia Public Building Authority Revenue, VA, 5.00%, due 08/01/28 | 4.2% |
| San Mateo County Community College District, General Obligation, CA, 5.00%, due 09/01/45 | 4.2% |
| Miami-Dade County Educational Facilities Authority Revenue, FL, 5.00%, due 04/01/34 | 4.0% |
| Lower Colorado River Authority Revenue, TX, 5.00%, due 05/15/48 | 4.0% |

---

#### 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 MYMH

# SPDR SSGA My2029 Corporate Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYCI

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2029 Corporate Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2029 Corporate Bond ETF | $14 | 0.15% |

---

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?
Spreads have been incredibly resilient throughout the year. While uncertainty remains with respect to U.S. policy, the volatility we saw post "Liberation Day" was short lived. Valuations continue to look rich with spreads trading at the tight end of the range over the last 20 years. However, the macro backdrop remains solid and corporate fundamentals should continue to be supportive of current valuations.

Positive contributions to performance for the year were driven by security selection in several sectors including Aerospace & Defense, Cable & Satellite, Media & Entertainment, Food & Beverage, and Technology. We also maintained a down-in-quality bias earlier in the year that contributed to performance. As spreads continued to rally back to the tight end of the multi-year range and as the basis between the higher-quality and lower-quality segments of the market compressed to unattractive levels, we began to reduce our overweight to BBB-rated securities in favor of higher-quality securities.

## 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](g62600i5e75b7ab01e8cd72cab0.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYCI** | **Bloomberg U.S. Aggregate Bond Index** | **ICE 2029 Maturity U.S. Corporate Index** |
| **09/24/24** | $10000 | $9967 | $9987 |
| **09/30/24** | $9992 | $9967 | $9987 |
| **10/31/24** | $9828 | $9720 | $9822 |
| **11/30/24** | $9927 | $9823 | $9909 |
| **12/31/24** | $9858 | $9662 | $9848 |
| **01/31/25** | $9911 | $9714 | $9909 |
| **02/28/25** | $10039 | $9927 | $10044 |
| **03/31/25** | $10080 | $9931 | $10079 |
| **04/30/25** | $10162 | $9970 | $10154 |
| **05/31/25** | $10180 | $9899 | $10176 |
| **06/30/25** | $10290 | $10051 | $10285 |
| **07/31/25** | $10297 | $10024 | $10294 |
| **08/31/25** | $10421 | $10144 | $10424 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYCI | 4.21%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Aggregate Bond Index | 1.44% |
| ICE 2029 Maturity U.S. Corporate Index | 4.24% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$25,059,403

* Number of Portfolio Holdings162

* Portfolio Turnover Rate9%

* Total Advisory Fees Paid$20,721

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten Industries** 

---

| | |
|:---|:---|
| **Industries** | **%** |
| Electric | 8.3% |
| Banks | 6.7% |
| Real Estate Investment Trusts | 5.9% |
| Pipelines | 5.6% |
| Pharmaceuticals | 5.2% |
| Telecommunications | 5.0% |
| Insurance | 4.7% |
| Retail | 4.5% |
| Semiconductors | 4.4% |
| Auto Manufacturers | 3.6% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp., 6.88%, due 01/15/29 | 2.2% |
| Philip Morris International, Inc., 5.63%, due 11/17/29 | 2.1% |
| Toll Brothers Finance Corp., 3.80%, due 11/01/29 | 1.8% |
| Broadcom, Inc., 5.05%, due 07/12/29 | 1.6% |
| AT&T, Inc., 4.35%, due 03/01/29 | 1.5% |
| Genuine Parts Co., 4.95%, due 08/15/29 | 1.5% |
| AbbVie, Inc., 4.80%, due 03/15/29 | 1.4% |
| American Tower Corp., 3.80%, due 08/15/29 | 1.3% |
| Home Depot, Inc., 4.75%, due 06/25/29 | 1.3% |
| Boeing Co., 6.30%, due 05/01/29 | 1.3% |

---

#### 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 MYCI

# SPDR SSGA My2029 Municipal Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYMI

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2029 Municipal Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2029 Municipal Bond ETF | $19 | 0.20% |

---

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?
The municipal market has seen greater than average issuance over the past eleven months. Volatility has been higher as a result of uncertainty introduced into the market surrounding the fate of municipal tax-exemption prior to the passage of the federal budget. In response, investor demand was concentrated shorter on the yield curve causing the long yields to move higher in order to compensate investors for higher perceived risk. The convexity in the portfolio caused some bonds in the portfolio to extend in duration which underperformed the broader market. The higher portfolio weighting of these bonds, a function of the small AUM, versus the Index, generated the Fund underperformance relative to the Index. We continue to decrease the Fund's sensitivity to increases in rates by selling lower coupon bonds. The Fund has continued to meet its income objective by providing excess income relative to the benchmark (20 bps Yield To Worst) as well as peers (11-50 bps dividend yield).

## 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](g62600i6189e6a025275e19a830.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYMI** | **Bloomberg U.S. Municipal Bond Index** | **ICE 2029 Maturity U.S. Broad Municipal Index** |
| **09/24/24** | $10000 | $10013 | $10014 |
| **09/30/24** | $9992 | $10013 | $10014 |
| **10/31/24** | $9873 | $9867 | $9892 |
| **11/30/24** | $10015 | $10037 | $9993 |
| **12/31/24** | $9920 | $9891 | $9903 |
| **01/31/25** | $9939 | $9940 | $9941 |
| **02/28/25** | $10011 | $10039 | $10031 |
| **03/31/25** | $9921 | $9869 | $9937 |
| **04/30/25** | $9882 | $9789 | $9892 |
| **05/31/25** | $9905 | $9796 | $9946 |
| **06/30/25** | $9980 | $9857 | $10034 |
| **07/31/25** | $9998 | $9837 | $10088 |
| **08/31/25** | $10064 | $9922 | $10167 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYMI | 0.64%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Municipal Bond Index | (0.78%) |
| ICE 2029 Maturity U.S. Broad Municipal Index | 1.67% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$9,792,185

* Number of Portfolio Holdings72

* Portfolio Turnover Rate52%

* Total Advisory Fees Paid$13,568

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten States** 

---

| | |
|:---|:---|
| **States** | **%** |
| Texas | 10.4% |
| Ohio | 6.8% |
| Pennsylvania | 6.5% |
| Illinois | 6.2% |
| Florida | 5.9% |
| Washington | 5.7% |
| Nevada | 5.4% |
| Kentucky | 5.0% |
| Wisconsin | 4.7% |
| New Jersey | 4.4% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| State of Wisconsin, General Obligation, WI, 5.00%, due 05/01/29 | 4.7% |
| Alabama Public School & College Authority Revenue, AL, 5.00%, due 11/01/29 | 3.4% |
| State of Iowa Board of Regents Revenue, IA, 5.00%, due 09/01/29 | 3.4% |
| Oregon State Lottery Revenue, OR, 5.00%, due 04/01/29 | 3.3% |
| Aubrey Independent School District, General Obligation, TX, 5.00%, due 02/15/29 | 3.3% |
| Clark County School District, General Obligation, NV, 5.00%, due 06/15/29 | 3.2% |
| New York City Municipal Water Finance Authority Revenue, NY, 5.00%, due 06/15/40 | 3.2% |
| State of Ohio Revenue, OH, 5.00%, due 12/15/28 | 3.1% |
| County of Hamilton Sales Tax Revenue, OH, 5.00%, due 12/01/29 | 2.5% |
| State of Utah, General Obligation, UT, 5.00%, due 07/01/29 | 2.5% |

---

#### 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 MYMI

# SPDR SSGA My2030 Corporate Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYCJ

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2030 Corporate Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2030 Corporate Bond ETF | $14 | 0.15% |

---

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?
Spreads have been incredibly resilient throughout the year. While uncertainty remains with respect to U.S. policy, the volatility we saw post "Liberation Day" was short lived. Valuations continue to look rich with spreads trading at the tight end of the range over the last 20 years. However, the macro backdrop remains solid and corporate fundamentals should continue to be supportive of current valuations.

Positive contributions to performance for the year were driven by security selection in several sectors including Aerospace & Defense, Cable & Satellite, Media & Entertainment, Food & Beverage, and Technology. We also maintained a down-in-quality bias earlier in the year that contributed to performance. As spreads continued to rally back to the tight end of the multi-year range and as the basis between the higher-quality and lower-quality segments of the market compressed to unattractive levels, we began to reduce our overweight to BBB-rated securities in favor of higher-quality securities.

## 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](g62600i99f209791c9a102a3ba3.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYCJ** | **Bloomberg U.S. Aggregate Bond Index** | **ICE 2030 Maturity U.S. Corporate Index** |
| **09/24/24** | $10000 | $9967 | $9981 |
| **09/30/24** | $9983 | $9967 | $9981 |
| **10/31/24** | $9778 | $9720 | $9766 |
| **11/30/24** | $9889 | $9823 | $9858 |
| **12/31/24** | $9792 | $9662 | $9773 |
| **01/31/25** | $9854 | $9714 | $9836 |
| **02/28/25** | $10002 | $9927 | $9992 |
| **03/31/25** | $10036 | $9931 | $10027 |
| **04/30/25** | $10110 | $9970 | $10111 |
| **05/31/25** | $10129 | $9899 | $10125 |
| **06/30/25** | $10260 | $10051 | $10259 |
| **07/31/25** | $10274 | $10024 | $10263 |
| **08/31/25** | $10417 | $10144 | $10411 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYCJ | 4.17%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Aggregate Bond Index | 1.44% |
| ICE 2030 Maturity U.S. Corporate Index | 4.11% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$21,272,018

* Number of Portfolio Holdings140

* Portfolio Turnover Rate19%

* Total Advisory Fees Paid$17,858

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten Industries** 

---

| | |
|:---|:---|
| **Industries** | **%** |
| Banks | 9.6% |
| Oil & Gas | 6.6% |
| Semiconductors | 5.8% |
| Pipelines | 5.7% |
| Telecommunications | 5.4% |
| Electric | 5.0% |
| Pharmaceuticals | 4.7% |
| Retail | 4.5% |
| Agriculture | 4.2% |
| Aerospace & Defense | 3.6% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Kenvue, Inc., 5.00%, due 03/22/30 | 2.3% |
| Northrop Grumman Corp., 4.40%, due 05/01/30 | 1.9% |
| Philip Morris International, Inc., 5.50%, due 09/07/30 | 1.9% |
| Micron Technology, Inc., 4.66%, due 02/15/30 | 1.8% |
| Carrier Global Corp., 2.72%, due 02/15/30 | 1.8% |
| Energy Transfer LP, 6.40%, due 12/01/30 | 1.8% |
| AT&T, Inc., 4.30%, due 02/15/30 | 1.7% |
| Boeing Co., 5.15%, due 05/01/30 | 1.7% |
| T-Mobile USA, Inc., 3.88%, due 04/15/30 | 1.7% |
| UnitedHealth Group, Inc., 5.30%, due 02/15/30 | 1.7% |

---

#### 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 MYCJ

# SPDR SSGA My2030 Municipal Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYMJ

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2030 Municipal Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2030 Municipal Bond ETF | $19 | 0.20% |

---

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?
The municipal market has seen greater than average issuance over the past eleven months. Volatility has been higher as a result of uncertainty introduced into the market surrounding the fate of municipal tax-exemption prior to the passage of the federal budget. In response, investor demand was concentrated shorter on the yield curve causing the long yields to move higher in order to compensate investors for higher perceived risk. The convexity in the portfolio caused some bonds in the portfolio to extend in duration which underperformed the broader market. The higher portfolio weighting of these bonds, a function of the small AUM, versus the Index, generated the Fund underperformance relative to the Index. We continue to decrease the Fund's sensitivity to increases in rates by selling lower coupon bonds. The Fund has continued to meet its income objective by providing excess income relative to the benchmark (23 bps Yield To Worst) as well as peers (15-62 bps dividend yield).

## 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](g62600i001f18655d047d1751ae.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYMJ** | **Bloomberg U.S. Municipal Bond Index** | **ICE 2030 Maturity U.S. Broad Municipal Index** |
| **09/24/24** | $10000 | $10013 | $10013 |
| **09/30/24** | $10010 | $10013 | $10013 |
| **10/31/24** | $9872 | $9867 | $9877 |
| **11/30/24** | $10020 | $10037 | $10000 |
| **12/31/24** | $9928 | $9891 | $9889 |
| **01/31/25** | $9977 | $9940 | $9933 |
| **02/28/25** | $10048 | $10039 | $10026 |
| **03/31/25** | $9932 | $9869 | $9895 |
| **04/30/25** | $9882 | $9789 | $9850 |
| **05/31/25** | $9912 | $9796 | $9904 |
| **06/30/25** | $9994 | $9857 | $9999 |
| **07/31/25** | $10004 | $9837 | $10042 |
| **08/31/25** | $10065 | $9922 | $10132 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYMJ | 0.65%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Municipal Bond Index | (0.78%) |
| ICE 2030 Maturity U.S. Broad Municipal Index | 1.32% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$8,574,255

* Number of Portfolio Holdings64

* Portfolio Turnover Rate75%

* Total Advisory Fees Paid$14,003

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten States** 

---

| | |
|:---|:---|
| **States** | **%** |
| Washington | 12.3% |
| New York | 7.7% |
| Pennsylvania | 7.3% |
| Texas | 6.0% |
| Michigan | 5.2% |
| Ohio | 4.8% |
| Oklahoma | 4.2% |
| Alabama | 3.8% |
| Connecticut | 3.7% |
| Hawaii | 3.5% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| New York Transportation Development Corp. Revenue, NY, 5.00%, due 12/01/37 | 3.6% |
| Empire State Development Corp. Revenue, NY, 5.00%, due 03/15/38 | 3.2% |
| Ohio Water Development Authority Water Pollution Control Loan Fund Revenue, OH, 5.00%, due 06/01/33 | 3.2% |
| State of Connecticut Special Tax Revenue, CT, 5.00%, due 05/01/37 | 3.1% |
| Oklahoma Capitol Improvement Authority Revenue, OK, 5.00%, due 07/01/30 | 3.1% |
| Pennsylvania Turnpike Commission Revenue, PA, 5.00%, due 12/01/30 | 3.1% |
| City of Philadelphia Water & Wastewater Revenue, PA, 5.00%, due 11/01/39 | 2.9% |
| Alabama Public School & College Authority Revenue, AL, 5.00%, due 11/01/34 | 2.8% |
| Tarrant County Cultural Education Facilities Finance Corp. Revenue, TX, 5.00%, due 07/01/31 | 2.8% |
| Chelan County Public Utility District No. 1 Revenue, WA, 4.00%, due 07/01/36 | 2.6% |

---

#### 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 MYMJ

# SPDR SSGA My2031 Corporate Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYCK

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2031 Corporate Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2031 Corporate Bond ETF | $14 | 0.15% |

---

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?
Spreads have been incredibly resilient throughout the year. While uncertainty remains with respect to U.S. policy, the volatility we saw post "Liberation Day" was short lived. Valuations continue to look rich with spreads trading at the tight end of the range over the last 20 years. However, the macro backdrop remains solid and corporate fundamentals should continue to be supportive of current valuations.

Positive contributions to performance for the year were driven by security selection in several sectors including Aerospace & Defense, Cable & Satellite, Media & Entertainment, Food & Beverage, and Technology. We also maintained a down-in-quality bias earlier in the year that contributed to performance. As spreads continued to rally back to the tight end of the multi-year range and as the basis between the higher-quality and lower-quality segments of the market compressed to unattractive levels, we began to reduce our overweight to BBB-rated securities in favor of higher-quality securities.

## 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](g62600i43b501284c1b31829181.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYCK** | **Bloomberg U.S. Aggregate Bond Index** | **ICE 2031 Maturity U.S. Corporate Index** |
| **09/24/24** | $10000 | $9967 | $9990 |
| **09/30/24** | $9994 | $9967 | $9990 |
| **10/31/24** | $9774 | $9720 | $9777 |
| **11/30/24** | $9902 | $9823 | $9883 |
| **12/31/24** | $9765 | $9662 | $9751 |
| **01/31/25** | $9834 | $9714 | $9832 |
| **02/28/25** | $10007 | $9927 | $10015 |
| **03/31/25** | $10026 | $9931 | $10034 |
| **04/30/25** | $10091 | $9970 | $10110 |
| **05/31/25** | $10105 | $9899 | $10121 |
| **06/30/25** | $10279 | $10051 | $10285 |
| **07/31/25** | $10283 | $10024 | $10288 |
| **08/31/25** | $10440 | $10144 | $10453 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYCK | 4.40%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Aggregate Bond Index | 1.44% |
| ICE 2031 Maturity U.S. Corporate Index | 4.53% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$6,273,375

* Number of Portfolio Holdings115

* Portfolio Turnover Rate9%

* Total Advisory Fees Paid$8,038

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten Industries** 

---

| | |
|:---|:---|
| **Industries** | **%** |
| Real Estate Investment Trusts | 9.1% |
| Electric | 9.0% |
| Pharmaceuticals | 5.8% |
| Banks | 5.7% |
| Telecommunications | 5.5% |
| Semiconductors | 5.3% |
| Pipelines | 4.4% |
| Agriculture | 4.2% |
| Insurance | 4.1% |
| Diversified Financial Services | 4.0% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Broadcom, Inc., 5.15%, due 11/15/31 | 2.5% |
| AbbVie, Inc., 4.95%, due 03/15/31 | 2.5% |
| Philip Morris International, Inc., 5.13%, due 02/13/31 | 2.1% |
| Extra Space Storage LP, 5.90%, due 01/15/31 | 2.1% |
| Micron Technology, Inc., 5.30%, due 01/15/31 | 2.1% |
| AT&T, Inc., 2.75%, due 06/01/31 | 2.0% |
| General Motors Financial Co., Inc., 5.60%, due 06/18/31 | 2.0% |
| T-Mobile USA, Inc., 3.50%, due 04/15/31 | 1.8% |
| Charles Schwab Corp., 2.30%, due 05/13/31 | 1.8% |
| Berry Global, Inc., 5.80%, due 06/15/31 | 1.6% |

---

#### 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 MYCK

# SPDR SSGA My2032 Corporate Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYCL

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2032 Corporate Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2032 Corporate Bond ETF | $14 | 0.15% |

---

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?
Spreads have been incredibly resilient throughout the year. While uncertainty remains with respect to U.S. policy, the volatility we saw post "Liberation Day" was short lived. Valuations continue to look rich with spreads trading at the tight end of the range over the last 20 years. However, the macro backdrop remains solid and corporate fundamentals should continue to be supportive of current valuations.

Positive contributions to performance for the year were driven by security selection in several sectors including Aerospace & Defense, Cable & Satellite, Media & Entertainment, Food & Beverage, and Technology. We also maintained a down-in-quality bias earlier in the year that contributed to performance. As spreads continued to rally back to the tight end of the multi-year range and as the basis between the higher-quality and lower-quality segments of the market compressed to unattractive levels, we began to reduce our overweight to BBB-rated securities in favor of higher-quality securities.

## 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](g62600i23964ab3fbe078443116.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYCL** | **Bloomberg U.S. Aggregate Bond Index** | **ICE 2032 Maturity U.S. Corporate Index** |
| **09/24/24** | $10000 | $9967 | $9984 |
| **09/30/24** | $9983 | $9967 | $9984 |
| **10/31/24** | $9745 | $9720 | $9749 |
| **11/30/24** | $9883 | $9823 | $9869 |
| **12/31/24** | $9714 | $9662 | $9706 |
| **01/31/25** | $9759 | $9714 | $9761 |
| **02/28/25** | $9948 | $9927 | $9957 |
| **03/31/25** | $9951 | $9931 | $9960 |
| **04/30/25** | $9976 | $9970 | $9993 |
| **05/31/25** | $10016 | $9899 | $10023 |
| **06/30/25** | $10202 | $10051 | $10188 |
| **07/31/25** | $10228 | $10024 | $10208 |
| **08/31/25** | $10356 | $10144 | $10340 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYCL | 3.56%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Aggregate Bond Index | 1.44% |
| ICE 2032 Maturity U.S. Corporate Index | 3.40% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$6,219,696

* Number of Portfolio Holdings90

* Portfolio Turnover Rate9%

* Total Advisory Fees Paid$8,063

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten Industries** 

---

| | |
|:---|:---|
| **Industries** | **%** |
| Electric | 11.5% |
| Banks | 8.8% |
| Semiconductors | 8.6% |
| Telecommunications | 5.5% |
| Real Estate Investment Trusts | 5.4% |
| Retail | 5.1% |
| Insurance | 4.4% |
| Pipelines | 4.0% |
| Diversified Financial Services | 3.7% |
| Pharmaceuticals | 3.5% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Broadcom, Inc., 4.30%, due 11/15/32 | 3.1% |
| Philip Morris International, Inc., 5.75%, due 11/17/32 | 2.2% |
| Amazon.com, Inc., 4.70%, due 12/01/32 | 2.1% |
| Advanced Micro Devices, Inc., 3.92%, due 06/01/32 | 2.0% |
| T-Mobile USA, Inc., 2.70%, due 03/15/32 | 1.9% |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL, 3.00%, due 05/15/32 | 1.8% |
| Dick's Sporting Goods, Inc., 3.15%, due 01/15/32 | 1.8% |
| Verizon Communications, Inc., 2.36%, due 03/15/32 | 1.8% |
| AT&T, Inc., 2.25%, due 02/01/32 | 1.8% |
| Church & Dwight Co., Inc., 5.60%, due 11/15/32 | 1.8% |

---

#### 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 MYCL

# SPDR SSGA My2033 Corporate Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYCM

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2033 Corporate Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2033 Corporate Bond ETF | $14 | 0.15% |

---

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?
Spreads have been incredibly resilient throughout the year. While uncertainty remains with respect to U.S. policy, the volatility we saw post "Liberation Day" was short lived. Valuations continue to look rich with spreads trading at the tight end of the range over the last 20 years. However, the macro backdrop remains solid and corporate fundamentals should continue to be supportive of current valuations.

Positive contributions to performance for the year were driven by security selection in several sectors including Aerospace & Defense, Cable & Satellite, Media & Entertainment, Food & Beverage, and Technology. We also maintained a down-in-quality bias earlier in the year that contributed to performance. As spreads continued to rally back to the tight end of the multi-year range and as the basis between the higher-quality and lower-quality segments of the market compressed to unattractive levels, we began to reduce our overweight to BBB-rated securities in favor of higher-quality securities.

## 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](g62600i40d292279c9e90a7b238.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYCM** | **Bloomberg U.S. Aggregate Bond Index** | **ICE 2033 Maturity U.S. Corporate Index** |
| **09/24/24** | $10000 | $9967 | $9982 |
| **09/30/24** | $9988 | $9967 | $9982 |
| **10/31/24** | $9745 | $9720 | $9728 |
| **11/30/24** | $9888 | $9823 | $9850 |
| **12/31/24** | $9700 | $9662 | $9673 |
| **01/31/25** | $9749 | $9714 | $9730 |
| **02/28/25** | $9950 | $9927 | $9939 |
| **03/31/25** | $9951 | $9931 | $9936 |
| **04/30/25** | $9969 | $9970 | $9966 |
| **05/31/25** | $10000 | $9899 | $9992 |
| **06/30/25** | $10211 | $10051 | $10190 |
| **07/31/25** | $10225 | $10024 | $10207 |
| **08/31/25** | $10345 | $10144 | $10330 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYCM | 3.45%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Aggregate Bond Index | 1.44% |
| ICE 2033 Maturity U.S. Corporate Index | 3.30% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$6,207,167

* Number of Portfolio Holdings84

* Portfolio Turnover Rate7%

* Total Advisory Fees Paid$7,976

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten Industries** 

---

| | |
|:---|:---|
| **Industries** | **%** |
| Electric | 16.0% |
| Pipelines | 8.4% |
| Pharmaceuticals | 7.0% |
| Semiconductors | 6.0% |
| Banks | 5.7% |
| Insurance | 5.5% |
| Real Estate Investment Trusts | 4.6% |
| Telecommunications | 4.1% |
| Oil & Gas | 3.5% |
| Retail | 3.1% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| Philip Morris International, Inc., 5.38%, due 02/15/33 | 2.4% |
| Duke Energy Florida LLC, 5.88%, due 11/15/33 | 2.4% |
| National Grid PLC, 5.81%, due 06/12/33 | 2.4% |
| Micron Technology, Inc., 5.88%, due 09/15/33 | 2.4% |
| Exelon Corp., 5.30%, due 03/15/33 | 2.3% |
| Corebridge Financial, Inc., 6.05%, due 09/15/33 | 2.0% |
| Vale Overseas Ltd., 6.13%, due 06/12/33 | 1.9% |
| ONEOK, Inc., 6.05%, due 09/01/33 | 1.9% |
| BP Capital Markets America, Inc., 4.89%, due 09/11/33 | 1.8% |
| Apollo Global Management, Inc., 6.38%, due 11/15/33 | 1.8% |

---

#### 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 MYCM

# SPDR SSGA My2034 Corporate Bond ETF
![Image](g62600i735a4515c2cc007cf9ba.jpg)

# MYCN

## Principal Listing Exchange: The Nasdaq Stock Market

#### Annual Shareholder Report

#### August 31, 2025
This annual shareholder report contains important information about the SPDR SSGA My2034 Corporate Bond ETF (the "Fund") for the period of September 24, 2024 (commencement of operations) through August 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 SSGA My2034 Corporate Bond ETF | $14 | 0.15% |

---

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?
Spreads have been incredibly resilient throughout the year. While uncertainty remains with respect to U.S. policy, the volatility we saw post "Liberation Day" was short lived. Valuations continue to look rich with spreads trading at the tight end of the range over the last 20 years. However, the macro backdrop remains solid and corporate fundamentals should continue to be supportive of current valuations.

Positive contributions to performance for the year were driven by security selection in several sectors including Aerospace & Defense, Cable & Satellite, Media & Entertainment, Food & Beverage, and Technology. We also maintained a down-in-quality bias earlier in the year that contributed to performance. As spreads continued to rally back to the tight end of the multi-year range and as the basis between the higher-quality and lower-quality segments of the market compressed to unattractive levels, we began to reduce our overweight to BBB-rated securities in favor of higher-quality securities.

## 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](g62600i785ae0cf2413b55f701c.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **MYCN** | **Bloomberg U.S. Aggregate Bond Index** | **ICE 2034 Maturity U.S. Corporate Index** |
| **09/24/24** | $10000 | $9967 | $9977 |
| **09/30/24** | $9978 | $9967 | $9977 |
| **10/31/24** | $9719 | $9720 | $9714 |
| **11/30/24** | $9880 | $9823 | $9856 |
| **12/31/24** | $9678 | $9662 | $9664 |
| **01/31/25** | $9714 | $9714 | $9711 |
| **02/28/25** | $9932 | $9927 | $9936 |
| **03/31/25** | $9916 | $9931 | $9917 |
| **04/30/25** | $9919 | $9970 | $9925 |
| **05/31/25** | $9942 | $9899 | $9943 |
| **06/30/25** | $10165 | $10051 | $10157 |
| **07/31/25** | $10176 | $10024 | $10173 |
| **08/31/25** | $10297 | $10144 | $10295 |

---

## Average Annual Total Returns (%)

---

| | |
|:---|:---|
| **Name** | **Since Inception 09/24/24** |
| MYCN | 2.97%<sup>Footnote Reference\*</sup> |
| Bloomberg U.S. Aggregate Bond Index | 1.44% |
| ICE 2034 Maturity U.S. Corporate Index | 2.95% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Returns are not annualized. |

---

**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 8/31/2025
* Total Net Assets$7,402,239

* Number of Portfolio Holdings109

* Portfolio Turnover Rate27%

* Total Advisory Fees Paid$9,106

## **What did the Fund invest in as of 8/31/2025 ?** (as a percentage of total net assets)

### **Top Ten Industries** 

---

| | |
|:---|:---|
| **Industries** | **%** |
| Electric | 12.8% |
| Pipelines | 6.4% |
| Insurance | 6.0% |
| Pharmaceuticals | 5.3% |
| Real Estate Investment Trusts | 5.1% |
| Oil & Gas | 4.9% |
| Banks | 4.9% |
| Telecommunications | 4.8% |
| Semiconductors | 4.7% |
| Food | 4.2% |

---

### **Top Ten Holdings** 

---

| | |
|:---|:---|
| **Holdings** | **%** |
| General Motors Financial Co., Inc., 5.95%, due 04/04/34 | 3.2% |
| Imperial Brands Finance PLC, 5.88%, due 07/01/34 | 2.8% |
| AbbVie, Inc., 5.05%, due 03/15/34 | 2.0% |
| Broadcom, Inc., 3.47%, due 04/15/34 | 1.9% |
| DTE Electric Co., 5.20%, due 03/01/34 | 1.9% |
| Southern Co., 5.70%, due 03/15/34 | 1.8% |
| Carrier Global Corp., 5.90%, due 03/15/34 | 1.7% |
| Anheuser-Busch InBev Worldwide, Inc., 5.00%, due 06/15/34 | 1.7% |
| T-Mobile USA, Inc., 5.15%, due 04/15/34 | 1.6% |
| Energy Transfer LP, 5.60%, due 09/01/34 | 1.5% |

---

#### 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 MYCN

------

(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 four 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, James Ross, Kristi Rowsell, 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 period ended August 31, 2025, the aggregate audit fees billed for professional services rendered by the principal accountant, Ernst & Young LLP ("EY"), was $442,208. Audit fees include the performance of the annual audits and routine regulatory filings (one for each SEC registrant).

(b) <u>Audit-Related Fees</u>.

For the fiscal period ended August 31, 2025, the principal accountant did not bill the registrant any fees for assurances and 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 period ended August 31, 2025, the aggregate tax fees billed for professional services rendered by EY for the review of year-end distribution requirements was $38,892.

(d) <u>All Other Fees</u>.

For the fiscal period ended August 31, 2025, 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 period ended August 31, 2025, 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 was approximately $9,637,151.

------

(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:

(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

(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.

(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.

(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>.  |

---

One hundred percent 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) |
|  Non audit services billed to: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registrant: | 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 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax Fees | $3.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Other Fees | $15.8 |

---

<sup>(1)</sup> Information is for the calendar year 2025.

<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) The registrant's principal accountant 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, James Ross, Kristi Rowsell, Sandra Sponem and Carl Verboncoeur.

------

#### Item 6. Investments.
(a) A Schedule of Investments for each applicable series of the registrant is included as 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
August 31, 2025

## SSGA Active Trust

---

| |
|:---|
| SPDR SSGA My2026 Corporate Bond ETF |
| SPDR SSGA My2027 Corporate Bond ETF |
| SPDR SSGA My2028 Corporate Bond ETF |
| SPDR SSGA My2029 Corporate Bond ETF |
| SPDR SSGA My2030 Corporate Bond ETF |
| SPDR SSGA My2031 Corporate Bond ETF |
| SPDR SSGA My2032 Corporate Bond ETF |
| SPDR SSGA My2033 Corporate Bond ETF |
| SPDR SSGA My2034 Corporate Bond 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.**![](g62600img9d1b139b1.jpg)

------

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **[Schedules of Investments (N-CSR Item 6)](#xx_e23af0fc-e62a-43fe-8e3b-23cfd3c02fca_1)** |  |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2026 Corporate Bond ETF (MYCF)](#xx_e23af0fc-e62a-43fe-8e3b-23cfd3c02fca_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2027 Corporate Bond ETF (MYCG)](#xx_ec97e04b-cd0d-4b76-9266-cc93fd81cb3d_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2028 Corporate Bond ETF (MYCH)](#xx_123dbbaf-701d-4041-90f7-5f5928d40fc8_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2029 Corporate Bond ETF (MYCI)](#xx_adc5bb13-ae25-4c9b-8ba8-320f233b37fb_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2030 Corporate Bond ETF (MYCJ)](#xx_393dd27f-90f1-464a-866d-c700dbe1471e_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;23 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2031 Corporate Bond ETF (MYCK)](#xx_21374341-d8e5-4304-8029-f3c8f68ac4b9_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;28 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2032 Corporate Bond ETF (MYCL)](#xx_79ee3226-fd5e-4a88-afd7-c4fb2208121a_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;32 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2033 Corporate Bond ETF (MYCM)](#xx_4ea8f4a9-640a-472c-b736-1261ebed8eba_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2034 Corporate Bond ETF (MYCN)](#xx_d2443dde-18d1-487f-81ea-9b587d921480_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;40 |
| **[Financial Statements (N-CSR Item 7)](#xx_f6f9c64f-a2c6-46a4-a2f1-7f08bc98a638_2)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;45 |
| **[Financial Highlights (N-CSR Item 7)](#xx_2e0a3701-50f6-4ef6-be6b-d8414619efcc_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;51 |
| **[Notes to Financial Statements (N-CSR Item 7)](#xx_a4d7c6f5-50f0-4445-a27b-14b52b1cb603_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;60 |
| **[Report of Independent Registered Public Accounting Firm (N-CSR Item 7)](#xx_fdf6a480-caca-450e-9cb1-a1959941d27b_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;68 |
| **[Other Information (Unaudited) (N-CSR Item 7)](#xx_dac9b75c-8319-4f53-9990-a42b1e308564_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;69 |

---

#### 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**

#### Statement Regarding Basis for Approval of Investment Advisory Contract (N-CSR Item 11) - Not Applicable

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2026 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 98.3%** | **CORPORATE BONDS & NOTES — 98.3%** | **CORPORATE BONDS & NOTES — 98.3%** |
| **AEROSPACE & DEFENSE — 2.4%** | **AEROSPACE & DEFENSE — 2.4%** | **AEROSPACE & DEFENSE — 2.4%** |
| Boeing Co.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.25%, 6/15/2026<br>| &nbsp;&nbsp;$60000 | &nbsp;&nbsp;$59005 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.10%, 5/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232767 |
| General Dynamics Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.15%, 6/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48877 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.13%, 8/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73691 |
| Lockheed Martin Corp.<br>3.55%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119630 |
| RTX Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 2/27/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55120 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/8/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213482 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802572 |
| **AGRICULTURE — 2.3%** | **AGRICULTURE — 2.3%** | **AGRICULTURE — 2.3%** |
| Altria Group, Inc.<br>2.63%, 9/16/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162216 |
| Bunge Ltd. Finance Corp.<br>3.25%, 8/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74319 |
| Imperial Brands Finance PLC<br>3.50%, 7/26/2026 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346920 |
| Philip Morris International, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 2/25/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84312 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 2/13/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110158 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777925 |
| **AUTO MANUFACTURERS — 4.2%** | **AUTO MANUFACTURERS — 4.2%** | **AUTO MANUFACTURERS — 4.2%** |
| American Honda Finance Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 1.30%, 9/9/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53393 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series GMTN, 2.30%, 9/9/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39228 |
| Ford Motor Credit Co. LLC: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 8/10/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113678 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.54%, 8/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79750 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.13%, 11/5/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225392 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.95%, 3/6/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201504 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.95%, 6/10/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81038 |
| General Motors Financial Co., Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 6/10/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112342 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 3/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185339 |
| Hyundai Capital America<br>2.75%, 9/27/2026 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196386 |
| Toyota Motor Credit Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 1.13%, 6/18/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51727 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 4.80%, 1/5/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40056 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 5.00%, 8/14/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57470 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1437303 |
| **BANKS — 21.4%** | **BANKS — 21.4%** | **BANKS — 21.4%** |
| Australia & New Zealand Banking Group Ltd.<br>5.00%, 3/18/2026 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50209 |
| Banco Santander SA<br>4.25%, 4/11/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400180 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Bank of America Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 3 mo. USD Term SOFR + 1.32%, 3.56%, 4/23/2027 (c)<br>| &nbsp;&nbsp;$155000 | &nbsp;&nbsp;$154188 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.22%, 9/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203758 |
| Bank of Montreal<br>Series MTN, 1.25%, 9/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150499 |
| Bank of Nova Scotia: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 2/2/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110139 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.35%, 12/7/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101438 |
| Barclays PLC: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 1/12/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269881 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.20%, 5/12/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110364 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 2.21%, 5.83%, 5/9/2027 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302709 |
| Capital One NA<br>Series BKNT, 4.25%, 3/13/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199668 |
| Citibank NA<br>5.49%, 12/4/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167610 |
| Citigroup, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.20%, 10/21/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148317 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 5/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124236 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.30%, 11/20/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180119 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 1.55%, 5.61%, 9/29/2026 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100072 |
| Citizens Bank NA<br>3.75%, 2/18/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74751 |
| Citizens Financial Group, Inc.<br>2.85%, 7/27/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246515 |
| Goldman Sachs Group, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/16/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140827 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 1.51%, 4.39%, 6/15/2027 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74981 |
| JPMorgan Chase & Co.<br>2.95%, 10/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148323 |
| KeyBank NA<br>3.40%, 5/20/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219312 |
| Lloyds Banking Group PLC<br>4.65%, 3/24/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334836 |
| Manufacturers & Traders Trust Co.<br>4.65%, 1/27/2026 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299982 |
| Mitsubishi UFJ Financial Group, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.76%, 9/13/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147852 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.85%, 3/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82796 |
| Mizuho Financial Group, Inc.<br>2.84%, 9/13/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186414 |
| Morgan Stanley<br>3.95%, 4/23/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249110 |
| PNC Financial Services Group, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.15%, 8/13/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132227 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 7/23/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143145 |
| Royal Bank of Canada<br>Series GMTN, 4.65%, 1/27/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425255 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2026 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Sumitomo Mitsui Financial Group, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.40%, 9/17/2026<br>| &nbsp;&nbsp;$140000 | &nbsp;&nbsp;$136060 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 7/14/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222037 |
| Truist Bank: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.30%, 5/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228234 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 10/30/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39752 |
| U.S. Bancorp: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 3.10%, 4/27/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223139 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 1.43%, 5.73%, 10/21/2026 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425638 |
| Wells Fargo & Co.<br>3.00%, 4/22/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148805 |
| Wells Fargo Bank NA<br>4.81%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148155 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7251533 |
| **BEVERAGES — 0.9%** | **BEVERAGES — 0.9%** | **BEVERAGES — 0.9%** |
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.<br>3.65%, 2/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59813 |
| Molson Coors Beverage Co.<br>3.00%, 7/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197700 |
| PepsiCo, Inc.<br>2.38%, 10/6/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35391 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292904 |
| **BIOTECHNOLOGY — 0.1%** | **BIOTECHNOLOGY — 0.1%** | **BIOTECHNOLOGY — 0.1%** |
| Amgen, Inc.<br>2.60%, 8/19/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49265 |
| **CHEMICALS — 0.4%** | **CHEMICALS — 0.4%** | **CHEMICALS — 0.4%** |
| DuPont de Nemours, Inc.<br>4.49%, 11/15/2025<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134926 |
| **COMMERCIAL SERVICES — 1.5%** | **COMMERCIAL SERVICES — 1.5%** | **COMMERCIAL SERVICES — 1.5%** |
| Global Payments, Inc.<br>4.80%, 4/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160083 |
| GXO Logistics, Inc.<br>1.65%, 7/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341373 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501456 |
| **COMPUTERS — 2.3%** | **COMPUTERS — 2.3%** | **COMPUTERS — 2.3%** |
| Apple, Inc.<br>3.25%, 2/23/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208958 |
| Hewlett Packard Enterprise Co.<br>1.75%, 4/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73860 |
| International Business Machines Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.30%, 5/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223472 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 2/19/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24901 |
| NetApp, Inc.<br>2.38%, 6/22/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241918 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773109 |
| **CONSTRUCTION MATERIALS — 0.1%** | **CONSTRUCTION MATERIALS — 0.1%** | **CONSTRUCTION MATERIALS — 0.1%** |
| Trane Technologies Financing Ltd.<br>3.50%, 3/21/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49737 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COSMETICS/PERSONAL CARE — 0.1%** | **COSMETICS/PERSONAL CARE — 0.1%** | **COSMETICS/PERSONAL CARE — 0.1%** |
| Kenvue, Inc.<br>5.35%, 3/22/2026<br>| &nbsp;&nbsp;$45000 | &nbsp;&nbsp;$45215 |
| **DIVERSIFIED FINANCIAL SERVICES — 4.8%** | **DIVERSIFIED FINANCIAL SERVICES — 4.8%** | **DIVERSIFIED FINANCIAL SERVICES — 4.8%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 1/30/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98868 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.45%, 10/29/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146895 |
| Air Lease Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 2.88%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59604 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 5.30%, 6/25/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75514 |
| Aircastle Ltd.<br>4.25%, 6/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219384 |
| American Express Co.<br>3.13%, 5/20/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111622 |
| Capital One Financial Corp.<br>4.50%, 1/30/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219877 |
| Charles Schwab Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.15%, 5/13/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136007 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.88%, 8/24/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243557 |
| Invesco Finance PLC<br>3.75%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109667 |
| Nomura Holdings, Inc.<br>5.71%, 1/9/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200776 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1621771 |
| **ELECTRIC — 7.3%** | **ELECTRIC — 7.3%** | **ELECTRIC — 7.3%** |
| AEP Transmission Co. LLC<br>3.10%, 12/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108733 |
| Ameren Corp.<br>3.65%, 2/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184288 |
| Dominion Energy, Inc.<br>Series D, 2.85%, 8/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133227 |
| DTE Energy Co.<br>2.85%, 10/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108384 |
| Duke Energy Carolinas LLC<br>2.95%, 12/1/2026 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74089 |
| Emera U.S. Finance LP<br>3.55%, 6/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94207 |
| Entergy Corp.<br>2.95%, 9/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93671 |
| Evergy Kansas Central, Inc.<br>2.55%, 7/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24659 |
| Exelon Corp.<br>3.40%, 4/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124200 |
| Georgia Power Co.<br>3.25%, 4/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149001 |
| National Rural Utilities Cooperative Finance Corp.<br>4.45%, 3/13/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125021 |
| Pacific Gas & Electric Co.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 3/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118944 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 1/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198902 |
| San Diego Gas & Electric Co.<br>6.00%, 6/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19219 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2026 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Sempra<br>5.40%, 8/1/2026<br>| &nbsp;&nbsp;$315000 | &nbsp;&nbsp;$317545 |
| Sierra Pacific Power Co.<br>2.60%, 5/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283659 |
| Vistra Operations Co. LLC: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.70%, 1/30/2027 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49518 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.05%, 12/30/2026 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231780 |
| Xcel Energy, Inc.<br>3.35%, 12/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49426 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2488473 |
| **ELECTRONICS — 0.8%** | **ELECTRONICS — 0.8%** | **ELECTRONICS — 0.8%** |
| Honeywell International, Inc.<br>2.50%, 11/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147264 |
| Hubbell, Inc.<br>3.35%, 3/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24851 |
| Tyco Electronics Group SA: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.70%, 2/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49825 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 2/13/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50004 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271944 |
| **ENTERTAINMENT — 0.3%** | **ENTERTAINMENT — 0.3%** | **ENTERTAINMENT — 0.3%** |
| Warnermedia Holdings, Inc.<br>3.76%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93568 |
| **FOOD — 2.7%** | **FOOD — 2.7%** | **FOOD — 2.7%** |
| Campbell's Co.<br>5.30%, 3/20/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229950 |
| Conagra Brands, Inc.<br>5.30%, 10/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80744 |
| Ingredion, Inc.<br>3.20%, 10/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39535 |
| Kraft Heinz Foods Co.<br>3.00%, 6/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98905 |
| Kroger Co.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.65%, 10/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45231 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 2/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54776 |
| Mars, Inc.<br>4.45%, 3/1/2027 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251503 |
| Sysco Corp.<br>3.30%, 7/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123870 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924514 |
| **GAS — 0.4%** | **GAS — 0.4%** | **GAS — 0.4%** |
| Southern California Gas Co.<br>Series TT, 2.60%, 6/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123266 |
| **HAND & MACHINE TOOLS — 0.1%** | **HAND & MACHINE TOOLS — 0.1%** | **HAND & MACHINE TOOLS — 0.1%** |
| Stanley Black & Decker, Inc.<br>3.40%, 3/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34815 |
| **HEALTH CARE PRODUCTS — 1.4%** | **HEALTH CARE PRODUCTS — 1.4%** | **HEALTH CARE PRODUCTS — 1.4%** |
| Agilent Technologies, Inc.<br>3.05%, 9/22/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148009 |
| Baxter International, Inc.<br>2.60%, 8/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24611 |
| Solventum Corp.<br>5.45%, 2/25/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137584 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Thermo Fisher Scientific, Inc.<br>4.95%, 8/10/2026<br>| &nbsp;&nbsp;$165000 | &nbsp;&nbsp;$166091 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476295 |
| **HEALTH CARE SERVICES — 1.3%** | **HEALTH CARE SERVICES — 1.3%** | **HEALTH CARE SERVICES — 1.3%** |
| Cigna Group<br>4.50%, 2/25/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50005 |
| HCA, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 6/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135232 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.38%, 9/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125460 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.88%, 2/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100093 |
| Premier Health Partners<br>Series G, 2.91%, 11/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44128 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454918 |
| **INSURANCE — 2.1%** | **INSURANCE — 2.1%** | **INSURANCE — 2.1%** |
| Aflac, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.13%, 3/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24581 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24660 |
| Allstate Corp.<br>3.28%, 12/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34600 |
| Arch Capital Finance LLC<br>4.01%, 12/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74823 |
| Berkshire Hathaway, Inc.<br>3.13%, 3/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39750 |
| CNA Financial Corp.<br>4.50%, 3/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104892 |
| Corebridge Global Funding<br>5.75%, 7/2/2026 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50609 |
| Marsh & McLennan Cos., Inc.<br>3.75%, 3/14/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29907 |
| Principal Financial Group, Inc.<br>3.10%, 11/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49346 |
| Swiss Re America Holding Corp.<br>7.00%, 2/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277601 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710769 |
| **INTERNET — 0.1%** | **INTERNET — 0.1%** | **INTERNET — 0.1%** |
| Netflix, Inc.<br>4.38%, 11/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20112 |
| **INVESTMENT COMPANY SECURITIES — 2.6%** | **INVESTMENT COMPANY SECURITIES — 2.6%** | **INVESTMENT COMPANY SECURITIES — 2.6%** |
| ARES Capital Corp.<br>3.88%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114648 |
| Bain Capital Specialty Finance, Inc.<br>2.55%, 10/13/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38989 |
| Blackstone Secured Lending Fund<br>3.63%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214030 |
| Blue Owl Capital Corp.<br>4.25%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54859 |
| Franklin BSP Capital Corp.<br>3.25%, 3/30/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98919 |
| Goldman Sachs BDC, Inc.<br>2.88%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148872 |
| Golub Capital BDC, Inc.<br>2.50%, 8/24/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146857 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2026 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Sixth Street Specialty Lending, Inc.<br>2.50%, 8/1/2026<br>| &nbsp;&nbsp;$75000 | &nbsp;&nbsp;$73586 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890760 |
| **IRON/STEEL — 0.5%** | **IRON/STEEL — 0.5%** | **IRON/STEEL — 0.5%** |
| ArcelorMittal SA<br>4.55%, 3/11/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179843 |
| **LODGING — 1.2%** | **LODGING — 1.2%** | **LODGING — 1.2%** |
| Hyatt Hotels Corp.<br>4.85%, 3/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50022 |
| Sands China Ltd.<br>3.80%, 1/8/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348516 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398538 |
| **MACHINERY-DIVERSIFIED — 0.3%** | **MACHINERY-DIVERSIFIED — 0.3%** | **MACHINERY-DIVERSIFIED — 0.3%** |
| CNH Industrial Capital LLC<br>1.88%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98965 |
| **MEDIA — 1.7%** | **MEDIA — 1.7%** | **MEDIA — 1.7%** |
| Charter Communications Operating LLC/Charter Communications Operating Capital<br>6.15%, 11/10/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383318 |
| Comcast Corp.<br>3.15%, 3/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84488 |
| Paramount Global<br>4.00%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19927 |
| Walt Disney Co.<br>3.38%, 11/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74509 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562242 |
| **MINING — 1.1%** | **MINING — 1.1%** | **MINING — 1.1%** |
| BHP Billiton Finance USA Ltd.<br>5.25%, 9/8/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85924 |
| Glencore Funding LLC: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.63%, 4/27/2026 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98152 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 3/27/2027 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184134 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368210 |
| **MISCELLANEOUS MANUFACTURER — 0.6%** | **MISCELLANEOUS MANUFACTURER — 0.6%** | **MISCELLANEOUS MANUFACTURER — 0.6%** |
| Illinois Tool Works, Inc.<br>2.65%, 11/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187300 |
| Textron, Inc.<br>4.00%, 3/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24931 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212231 |
| **OFFICE & BUSINESS EQUIPMENT — 0.3%** | **OFFICE & BUSINESS EQUIPMENT — 0.3%** | **OFFICE & BUSINESS EQUIPMENT — 0.3%** |
| CDW LLC/CDW Finance Corp.<br>2.67%, 12/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88088 |
| **OIL & GAS — 4.6%** | **OIL & GAS — 4.6%** | **OIL & GAS — 4.6%** |
| BP Capital Markets America, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.12%, 5/4/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138930 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.41%, 2/11/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74682 |
| Chevron Corp.<br>2.95%, 5/16/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198338 |
| Devon Energy Corp.<br>5.85%, 12/15/2025<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125064 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Diamondback Energy, Inc.<br>3.25%, 12/1/2026<br>| &nbsp;&nbsp;$192000 | &nbsp;&nbsp;$189748 |
| EQT Corp.<br>3.13%, 5/15/2026 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296640 |
| Exxon Mobil Corp.<br>2.28%, 8/16/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14762 |
| Marathon Petroleum Corp.<br>5.13%, 12/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115948 |
| Ovintiv, Inc.<br>5.38%, 1/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315132 |
| Shell International Finance BV<br>2.88%, 5/10/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92156 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1561400 |
| **PACKAGING & CONTAINERS — 1.0%** | **PACKAGING & CONTAINERS — 1.0%** | **PACKAGING & CONTAINERS — 1.0%** |
| Amcor Finance USA, Inc.<br>3.63%, 4/28/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149158 |
| Berry Global, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.57%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24703 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 7/15/2026 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155014 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328875 |
| **PHARMACEUTICALS — 5.6%** | **PHARMACEUTICALS — 5.6%** | **PHARMACEUTICALS — 5.6%** |
| AbbVie, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 11/21/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222104 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.20%, 5/14/2026 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218376 |
| Astrazeneca Finance LLC<br>1.20%, 5/28/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171192 |
| Bristol-Myers Squibb Co.<br>3.20%, 6/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94283 |
| CVS Health Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.88%, 6/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98831 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 8/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69129 |
| Johnson & Johnson<br>2.45%, 3/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99141 |
| McKesson Corp.<br>1.30%, 8/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121664 |
| Merck & Co., Inc.<br>0.75%, 2/24/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54078 |
| Pfizer Investment Enterprises Pte. Ltd.<br>4.45%, 5/19/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215314 |
| Utah Acquisition Sub, Inc.<br>3.95%, 6/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521745 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885857 |
| **PIPELINES — 2.7%** | **PIPELINES — 2.7%** | **PIPELINES — 2.7%** |
| Boardwalk Pipelines LP<br>5.95%, 6/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90602 |
| Enbridge, Inc.<br>4.25%, 12/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41991 |
| Energy Transfer LP: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.90%, 7/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49826 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.05%, 12/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203878 |
| Enterprise Products Operating LLC<br>5.05%, 1/10/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65102 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2026 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| ONEOK, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 7/15/2026<br>| &nbsp;&nbsp;$60000 | &nbsp;&nbsp;$60128 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.55%, 11/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227702 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.85%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40131 |
| Sabine Pass Liquefaction LLC<br>5.88%, 6/30/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78346 |
| Spectra Energy Partners LP<br>3.38%, 10/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31664 |
| Western Midstream Operating LP<br>4.65%, 7/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24991 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914361 |
| **REAL ESTATE INVESTMENT TRUSTS — 6.7%** | **REAL ESTATE INVESTMENT TRUSTS — 6.7%** | **REAL ESTATE INVESTMENT TRUSTS — 6.7%** |
| Alexandria Real Estate Equities, Inc.<br>3.80%, 4/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114473 |
| American Tower Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.60%, 4/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78564 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 10/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158445 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.40%, 2/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24999 |
| Boston Properties LP<br>2.75%, 10/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261388 |
| Brixmor Operating Partnership LP<br>4.13%, 6/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139574 |
| Camden Property Trust<br>5.85%, 11/3/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127258 |
| COPT Defense Properties LP<br>2.25%, 3/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294796 |
| Equinix, Inc.<br>1.45%, 5/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24479 |
| Essex Portfolio LP<br>3.38%, 4/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99306 |
| GLP Capital LP/GLP Financing II, Inc.<br>5.38%, 4/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55168 |
| Healthpeak OP LLC<br>3.25%, 7/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69353 |
| Host Hotels & Resorts LP<br>Series F, 4.50%, 2/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49946 |
| Kimco Realty OP LLC<br>2.80%, 10/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172298 |
| Tanger Properties LP<br>3.13%, 9/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73903 |
| Vornado Realty LP<br>2.15%, 6/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542185 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286135 |
| **RETAIL — 1.7%** | **RETAIL — 1.7%** | **RETAIL — 1.7%** |
| AutoNation, Inc.<br>4.50%, 10/1/2025<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124917 |
| AutoZone, Inc.<br>5.05%, 7/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107645 |
| Lowe's Cos., Inc.<br>4.80%, 4/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145232 |
| Starbucks Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.45%, 6/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103541 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 2/15/2026<br>| &nbsp;&nbsp;$110000 | &nbsp;&nbsp;$110143 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591478 |
| **SEMICONDUCTORS — 3.6%** | **SEMICONDUCTORS — 3.6%** | **SEMICONDUCTORS — 3.6%** |
| Advanced Micro Devices, Inc.<br>4.21%, 9/24/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90121 |
| Intel Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 5/19/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138192 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 2/10/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200200 |
| Lam Research Corp.<br>3.75%, 3/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214297 |
| NXP BV/NXP Funding LLC/NXP USA, Inc.<br>3.88%, 6/18/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209070 |
| Skyworks Solutions, Inc.<br>1.80%, 6/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181128 |
| Texas Instruments, Inc.<br>1.13%, 9/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24295 |
| TSMC Arizona Corp.<br>1.75%, 10/25/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151885 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209188 |
| **SOFTWARE — 2.6%** | **SOFTWARE — 2.6%** | **SOFTWARE — 2.6%** |
| Concentrix Corp.<br>6.65%, 8/2/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71203 |
| Electronic Arts, Inc.<br>4.80%, 3/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110042 |
| Intuit, Inc.<br>5.25%, 9/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48500 |
| Microsoft Corp.<br>3.40%, 9/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49778 |
| Oracle Corp.<br>2.65%, 7/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162774 |
| Roper Technologies, Inc.<br>3.80%, 12/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192838 |
| Synopsys, Inc.<br>4.55%, 4/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60342 |
| Take-Two Interactive Software, Inc.<br>5.00%, 3/28/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175486 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870963 |
| **TELECOMMUNICATIONS — 3.0%** | **TELECOMMUNICATIONS — 3.0%** | **TELECOMMUNICATIONS — 3.0%** |
| AT&T, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 7/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172975 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 1/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246375 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 3/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100062 |
| Cisco Systems, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 9/20/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123117 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.90%, 2/26/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50144 |
| T-Mobile USA, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 2/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152897 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.63%, 4/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173110 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018680 |
| **TRANSPORTATION — 1.5%** | **TRANSPORTATION — 1.5%** | **TRANSPORTATION — 1.5%** |
| Canadian National Railway Co.<br>2.75%, 3/1/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148815 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2026 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Canadian Pacific Railway Co.<br>3.70%, 2/1/2026<br>| &nbsp;&nbsp;$260000 | &nbsp;&nbsp;$259103 |
| Norfolk Southern Corp.<br>2.90%, 6/15/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93972 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501890 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $33,231,143)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33304094 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENTS — 1.8%** | **SHORT-TERM INVESTMENTS — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (d) (e) | 256179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256179 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (f) (g) | 358575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358575 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $614,754)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $614,754)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614754 |
| **TOTAL INVESTMENTS — 100.1%<br>(Cost $33,845,897)<br>** | **TOTAL INVESTMENTS — 100.1%<br>(Cost $33,845,897)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;33918848 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.1)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.1)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30284) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $33888564 |

---

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

(a) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 5.5% of net assets as of August 31, 2025, may be resold in transactions exempt from registration, normally to qualified institutional buyers.

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

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

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

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

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

(g) Investment of cash collateral for securities loaned.

---

| | |
|:---|:---|
| BKNT | Bank Notes |
| GMTN | Global Medium Term Note |
| MTN | Medium Term Note |
| SOFR | Secured Overnight Financing Rate |

---

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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>| $— | $33304094 | $— | $33304094 |
| Short-Term Investments<br>| &nbsp;&nbsp;614754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614754 |
| **TOTAL INVESTMENTS<br>**  | $614754 | $33304094 | $— | $33918848 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/24/24\*** | **Value at<br>9/24/24\*** | **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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>|  | $— | $4522861 | $4266682 | $— | $— | 256179 | $256179 | $7420 |
| State Street Navigator Securities Lending Portfolio II<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;2774748 | &nbsp;&nbsp;2416173 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 358575 | &nbsp;&nbsp;358575 | &nbsp;&nbsp;&nbsp;&nbsp;639 |
| Total<br>|  | $— | $7297609 | $6682855 | $— | $— |  | $614754 | $8059 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2027 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 98.3%** | **CORPORATE BONDS & NOTES — 98.3%** | **CORPORATE BONDS & NOTES — 98.3%** |
| **AEROSPACE & DEFENSE — 4.2%** | **AEROSPACE & DEFENSE — 4.2%** | **AEROSPACE & DEFENSE — 4.2%** |
| Boeing Co.<br>6.26%, 5/1/2027<br>| &nbsp;&nbsp;$121000 | &nbsp;&nbsp;$124467 |
| General Dynamics Corp.<br>3.50%, 4/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79585 |
| Hexcel Corp.<br>4.20%, 2/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79431 |
| Howmet Aerospace, Inc.<br>5.90%, 2/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230062 |
| L3Harris Technologies, Inc.<br>5.40%, 1/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253890 |
| RTX Corp.<br>3.13%, 5/4/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123065 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890500 |
| **AGRICULTURE — 2.8%** | **AGRICULTURE — 2.8%** | **AGRICULTURE — 2.8%** |
| BAT Capital Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.56%, 8/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68086 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.70%, 4/2/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311845 |
| Bunge Ltd. Finance Corp.<br>3.75%, 9/25/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19857 |
| Philip Morris International, Inc.<br>5.13%, 11/17/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204188 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603976 |
| **APPAREL — 0.3%** | **APPAREL — 0.3%** | **APPAREL — 0.3%** |
| Tapestry, Inc.<br>4.13%, 7/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59738 |
| **AUTO MANUFACTURERS — 4.2%** | **AUTO MANUFACTURERS — 4.2%** | **AUTO MANUFACTURERS — 4.2%** |
| American Honda Finance Corp.<br>4.90%, 3/12/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50520 |
| Ford Motor Credit Co. LLC<br>5.80%, 3/5/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311518 |
| General Motors Co.<br>6.80%, 10/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375671 |
| Toyota Motor Credit Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 1.15%, 8/13/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47403 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 4.55%, 9/20/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111205 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896317 |
| **BANKS — 12.0%** | **BANKS — 12.0%** | **BANKS — 12.0%** |
| Bank of America Corp.<br>SOFR + 1.58%, 4.38%, 4/27/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200444 |
| Bank of Montreal<br>Series MTN, 2.65%, 3/8/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29413 |
| Citigroup, Inc.<br>SOFR + 1.89%, 4.66%, 5/24/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176033 |
| Deutsche Bank AG<br>SOFR + 1.59%, 5.71%, 2/8/2028 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178225 |
| Goldman Sachs Group, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. USD Term SOFR + 1.77%, 3.69%, 6/5/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173332 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;3.85%, 1/26/2027<br>| &nbsp;&nbsp;$118000 | &nbsp;&nbsp;$117470 |
| ING Groep NV<br>3.95%, 3/29/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106562 |
| JPMorgan Chase & Co.<br>SOFR + 0.93%, 5.57%, 4/22/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204266 |
| Manufacturers & Traders Trust Co.<br>3.40%, 8/17/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58939 |
| Mitsubishi UFJ Financial Group, Inc.<br>3.68%, 2/22/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149186 |
| Mizuho Financial Group, Inc.<br>3.66%, 2/28/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109245 |
| Morgan Stanley<br>Series MTN, SOFR + 1.01%, 5.65%, 4/13/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204300 |
| Northern Trust Corp.<br>4.00%, 5/10/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118045 |
| Royal Bank of Canada<br>Series MTN, 6.00%, 11/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194430 |
| Santander Holdings USA, Inc.<br>4.40%, 7/13/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175303 |
| Truist Financial Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 1.13%, 8/3/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9464 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, SOFR + 1.37%, 4.12%, 6/6/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99996 |
| Wells Fargo & Co.<br>Series MTN, SOFR + 1.07%, 5.71%, 4/22/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127828 |
| Westpac Banking Corp.<br>3.35%, 3/8/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119005 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2551486 |
| **BEVERAGES — 0.7%** | **BEVERAGES — 0.7%** | **BEVERAGES — 0.7%** |
| Keurig Dr. Pepper, Inc.<br>3.43%, 6/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59033 |
| Pepsico Singapore Financing I Pte. Ltd.<br>4.65%, 2/16/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10096 |
| PepsiCo, Inc.<br>4.40%, 2/7/2027 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77553 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146682 |
| **BIOTECHNOLOGY — 2.6%** | **BIOTECHNOLOGY — 2.6%** | **BIOTECHNOLOGY — 2.6%** |
| Amgen, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.20%, 2/21/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160591 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.20%, 11/2/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68691 |
| CSL Finance PLC<br>3.85%, 4/27/2027 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19921 |
| Gilead Sciences, Inc.<br>2.95%, 3/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108327 |
| Illumina, Inc.<br>5.75%, 12/13/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102843 |
| Royalty Pharma PLC<br>1.75%, 9/2/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104669 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565042 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2027 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **BUILDING MATERIALS — 0.2%** | **BUILDING MATERIALS — 0.2%** | **BUILDING MATERIALS — 0.2%** |
| Lennox International, Inc.<br>1.70%, 8/1/2027<br>| &nbsp;&nbsp;$35000 | &nbsp;&nbsp;$33379 |
| **COMMERCIAL SERVICES — 0.5%** | **COMMERCIAL SERVICES — 0.5%** | **COMMERCIAL SERVICES — 0.5%** |
| Equifax, Inc.<br>5.10%, 12/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20376 |
| Global Payments, Inc.<br>4.95%, 8/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96087 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116463 |
| **COMPUTERS — 2.4%** | **COMPUTERS — 2.4%** | **COMPUTERS — 2.4%** |
| Apple, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 6/20/2027 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98741 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.35%, 2/9/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198590 |
| Dell International LLC/EMC Corp.<br>6.10%, 7/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61936 |
| International Business Machines Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.15%, 7/27/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110420 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.22%, 8/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41620 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511307 |
| **DIVERSIFIED FINANCIAL SERVICES — 4.0%** | **DIVERSIFIED FINANCIAL SERVICES — 4.0%** | **DIVERSIFIED FINANCIAL SERVICES — 4.0%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.65%, 7/21/2027 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95062 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.45%, 4/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268406 |
| Ally Financial, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 6/9/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23104 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.10%, 11/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21090 |
| American Express Co.<br>5.85%, 11/5/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127614 |
| Capital One Financial Corp.<br>3.75%, 3/9/2027 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19869 |
| Charles Schwab Corp.<br>3.30%, 4/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202770 |
| Jefferies Financial Group, Inc.<br>4.85%, 1/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65461 |
| ORIX Corp.<br>5.00%, 9/13/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20308 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843684 |
| **ELECTRIC — 11.4%** | **ELECTRIC — 11.4%** | **ELECTRIC — 11.4%** |
| Alabama Power Co.<br>3.75%, 9/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74732 |
| American Electric Power Co., Inc.<br>5.75%, 11/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113445 |
| Appalachian Power Co.<br>Series X, 3.30%, 6/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191976 |
| CenterPoint Energy Houston Electric LLC<br>Series AA, 3.00%, 2/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123085 |
| Commonwealth Edison Co.<br>Series 122, 2.95%, 8/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126548 |
| Consolidated Edison Co. of New York, Inc.<br>Series B, 3.13%, 11/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83406 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| DTE Energy Co.<br>4.95%, 7/1/2027<br>| &nbsp;&nbsp;$101000 | &nbsp;&nbsp;$102313 |
| Duke Energy Corp.<br>5.00%, 12/8/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117142 |
| Edison International<br>5.75%, 6/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51928 |
| Evergy Kansas Central, Inc.<br>3.10%, 4/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93715 |
| FirstEnergy Corp.<br>Series B, 3.90%, 7/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139019 |
| Florida Power & Light Co.<br>Series A, 3.30%, 5/30/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148359 |
| ITC Holdings Corp.<br>3.35%, 11/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44154 |
| National Rural Utilities Cooperative Finance Corp.<br>Series MTN, 5.10%, 5/6/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81340 |
| NextEra Energy Capital Holdings, Inc.<br>3.55%, 5/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74248 |
| Pacific Gas & Electric Co.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.30%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122854 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.45%, 6/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126902 |
| Sempra<br>3.25%, 6/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122801 |
| Southern California Edison Co.<br>Series D, 4.70%, 6/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135652 |
| Southern Co.<br>5.11%, 8/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66265 |
| Virginia Electric & Power Co.<br>Series A, 3.50%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69452 |
| Vistra Operations Co. LLC: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.70%, 1/30/2027 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29711 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.05%, 12/30/2026 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120929 |
| WEC Energy Group, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.38%, 10/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57758 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.15%, 10/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20375 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2438109 |
| **ELECTRONICS — 0.6%** | **ELECTRONICS — 0.6%** | **ELECTRONICS — 0.6%** |
| Keysight Technologies, Inc.<br>4.60%, 4/6/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35158 |
| Tyco Electronics Group SA<br>3.13%, 8/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98236 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133394 |
| **ENTERTAINMENT — 0.5%** | **ENTERTAINMENT — 0.5%** | **ENTERTAINMENT — 0.5%** |
| Warnermedia Holdings, Inc.<br>3.76%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98493 |
| **FOOD — 3.1%** | **FOOD — 3.1%** | **FOOD — 3.1%** |
| Campbell's Co.<br>5.20%, 3/19/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126864 |
| Conagra Brands, Inc.<br>1.38%, 11/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70349 |
| Kroger Co.<br>3.70%, 8/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124093 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2027 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Mars, Inc.<br>4.45%, 3/1/2027 (c)<br>| &nbsp;&nbsp;$105000 | &nbsp;&nbsp;$105631 |
| Sysco Corp.<br>3.25%, 7/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93689 |
| Tyson Foods, Inc.<br>3.55%, 6/2/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143419 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664045 |
| **FOREST PRODUCTS & PAPER — 0.4%** | **FOREST PRODUCTS & PAPER — 0.4%** | **FOREST PRODUCTS & PAPER — 0.4%** |
| Suzano International Finance BV<br>5.50%, 1/17/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75909 |
| **HEALTH CARE PRODUCTS — 1.0%** | **HEALTH CARE PRODUCTS — 1.0%** | **HEALTH CARE PRODUCTS — 1.0%** |
| Smith & Nephew PLC<br>5.15%, 3/20/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55764 |
| Solventum Corp.<br>5.45%, 2/25/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92742 |
| Stryker Corp.<br>4.55%, 2/10/2027 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70545 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219051 |
| **HEALTH CARE SERVICES — 3.0%** | **HEALTH CARE SERVICES — 3.0%** | **HEALTH CARE SERVICES — 3.0%** |
| Centene Corp.<br>4.25%, 12/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227664 |
| Cigna Group<br>3.40%, 3/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116742 |
| HCA, Inc.<br>4.50%, 2/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240228 |
| Humana, Inc.<br>3.95%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54826 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639460 |
| **HOME BUILDERS — 1.0%** | **HOME BUILDERS — 1.0%** | **HOME BUILDERS — 1.0%** |
| Lennar Corp.<br>4.75%, 11/29/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120937 |
| Meritage Homes Corp.<br>5.13%, 6/6/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45298 |
| Toll Brothers Finance Corp.<br>4.88%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50337 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216572 |
| **HOME FURNISHINGS — 0.2%** | **HOME FURNISHINGS — 0.2%** | **HOME FURNISHINGS — 0.2%** |
| Leggett & Platt, Inc.<br>3.50%, 11/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34175 |
| **HOUSEHOLD PRODUCTS & WARES — 0.4%** | **HOUSEHOLD PRODUCTS & WARES — 0.4%** | **HOUSEHOLD PRODUCTS & WARES — 0.4%** |
| Church & Dwight Co., Inc.<br>3.15%, 8/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83640 |
| **INSURANCE — 1.7%** | **INSURANCE — 1.7%** | **INSURANCE — 1.7%** |
| Corebridge Financial, Inc.<br>3.65%, 4/5/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142700 |
| Lincoln Financial Global Funding<br>4.63%, 5/28/2028 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50473 |
| Markel Group, Inc.<br>3.50%, 11/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54138 |
| RenaissanceRe Finance, Inc.<br>3.45%, 7/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44353 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Willis North America, Inc.<br>4.65%, 6/15/2027<br>| &nbsp;&nbsp;$64000 | &nbsp;&nbsp;$64419 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356083 |
| **INTERNET — 1.3%** | **INTERNET — 1.3%** | **INTERNET — 1.3%** |
| Alibaba Group Holding Ltd.<br>3.40%, 12/6/2027 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69061 |
| Amazon.com, Inc.<br>4.55%, 12/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183621 |
| Expedia Group, Inc.<br>4.63%, 8/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25154 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277836 |
| **IRON/STEEL — 1.0%** | **IRON/STEEL — 1.0%** | **IRON/STEEL — 1.0%** |
| ArcelorMittal SA<br>6.55%, 11/29/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224185 |
| **LODGING — 1.5%** | **LODGING — 1.5%** | **LODGING — 1.5%** |
| Hyatt Hotels Corp.<br>5.75%, 1/30/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45814 |
| Las Vegas Sands Corp.<br>5.90%, 6/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178514 |
| Sands China Ltd.<br>2.30%, 3/8/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96681 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321009 |
| **MACHINERY, CONSTRUCTION & MINING — 0.4%** | **MACHINERY, CONSTRUCTION & MINING — 0.4%** | **MACHINERY, CONSTRUCTION & MINING — 0.4%** |
| Caterpillar Financial Services Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 1.10%, 9/14/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9465 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 1/8/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70511 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79976 |
| **MACHINERY-DIVERSIFIED — 1.1%** | **MACHINERY-DIVERSIFIED — 1.1%** | **MACHINERY-DIVERSIFIED — 1.1%** |
| CNH Industrial NV<br>Series MTN, 3.85%, 11/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129344 |
| Ingersoll Rand, Inc.<br>5.20%, 6/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111905 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241249 |
| **MEDIA — 0.6%** | **MEDIA — 0.6%** | **MEDIA — 0.6%** |
| Comcast Corp.<br>5.35%, 11/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41099 |
| FactSet Research Systems, Inc.<br>2.90%, 3/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44169 |
| Paramount Global<br>2.90%, 1/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34230 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119498 |
| **MINING — 1.9%** | **MINING — 1.9%** | **MINING — 1.9%** |
| Freeport-McMoRan, Inc.<br>5.00%, 9/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115024 |
| Glencore Funding LLC<br>4.00%, 3/27/2027 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263760 |
| Yamana Gold, Inc.<br>4.63%, 12/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19971 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398755 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2027 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MISCELLANEOUS MANUFACTURER — 0.5%** | **MISCELLANEOUS MANUFACTURER — 0.5%** | **MISCELLANEOUS MANUFACTURER — 0.5%** |
| Textron, Inc.<br>3.65%, 3/15/2027<br>| &nbsp;&nbsp;$115000 | &nbsp;&nbsp;$113821 |
| **OIL & GAS — 3.6%** | **OIL & GAS — 3.6%** | **OIL & GAS — 3.6%** |
| BP Capital Markets America, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.59%, 4/14/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39745 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.02%, 11/17/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178595 |
| BP Capital Markets PLC<br>3.28%, 9/19/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67015 |
| Canadian Natural Resources Ltd.<br>3.85%, 6/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53598 |
| Cenovus Energy, Inc.<br>4.25%, 4/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59960 |
| Coterra Energy, Inc.<br>3.90%, 5/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39740 |
| Diamondback Energy, Inc.<br>5.20%, 4/18/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187757 |
| Occidental Petroleum Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 8/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2526 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 7/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63188 |
| Phillips 66 Co.<br>4.95%, 12/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76178 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768302 |
| **OIL & GAS SERVICES — 0.4%** | **OIL & GAS SERVICES — 0.4%** | **OIL & GAS SERVICES — 0.4%** |
| Schlumberger Holdings Corp.<br>5.00%, 5/29/2027 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76031 |
| **PACKAGING & CONTAINERS — 1.4%** | **PACKAGING & CONTAINERS — 1.4%** | **PACKAGING & CONTAINERS — 1.4%** |
| Berry Global, Inc.<br>1.65%, 1/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231674 |
| WRKCo, Inc.<br>3.38%, 9/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64121 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295795 |
| **PHARMACEUTICALS — 6.0%** | **PHARMACEUTICALS — 6.0%** | **PHARMACEUTICALS — 6.0%** |
| AbbVie, Inc.<br>4.80%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338554 |
| Astrazeneca Finance LLC<br>4.80%, 2/26/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116386 |
| Becton Dickinson & Co.<br>3.70%, 6/6/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94284 |
| Bristol-Myers Squibb Co.<br>1.13%, 11/13/2027 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94321 |
| Cencora, Inc.<br>3.45%, 12/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59101 |
| CVS Health Corp.<br>6.25%, 6/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87747 |
| Eli Lilly & Co.<br>4.50%, 2/9/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201584 |
| Merck & Co., Inc.<br>1.70%, 6/10/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80945 |
| Viatris, Inc.<br>2.30%, 6/22/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201631 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1274553 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **PIPELINES — 2.5%** | **PIPELINES — 2.5%** | **PIPELINES — 2.5%** |
| Cheniere Corpus Christi Holdings LLC<br>5.13%, 6/30/2027<br>| &nbsp;&nbsp;$40000 | &nbsp;&nbsp;$40422 |
| Energy Transfer LP<br>5.50%, 6/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81393 |
| Enterprise Products Operating LLC<br>4.60%, 1/11/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130816 |
| Northwest Pipeline LLC<br>4.00%, 4/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54800 |
| ONEOK, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 7/13/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32877 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 9/24/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90094 |
| Sabine Pass Liquefaction LLC<br>5.00%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50287 |
| Targa Resources Corp.<br>5.20%, 7/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43695 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524384 |
| **REAL ESTATE INVESTMENT TRUSTS — 4.2%** | **REAL ESTATE INVESTMENT TRUSTS — 4.2%** | **REAL ESTATE INVESTMENT TRUSTS — 4.2%** |
| Alexandria Real Estate Equities, Inc.<br>3.95%, 1/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155285 |
| American Tower Corp.<br>3.55%, 7/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84072 |
| Brixmor Operating Partnership LP<br>3.90%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34800 |
| DOC Dr. LLC<br>4.30%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56013 |
| Extra Space Storage LP<br>3.88%, 12/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109039 |
| Healthpeak OP LLC<br>1.35%, 2/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49041 |
| Highwoods Realty LP<br>3.88%, 3/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89953 |
| Kimco Realty OP LLC<br>3.80%, 4/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99373 |
| NNN REIT, Inc.<br>3.50%, 10/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126289 |
| Tanger Properties LP<br>3.88%, 7/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93951 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897816 |
| **RETAIL — 1.5%** | **RETAIL — 1.5%** | **RETAIL — 1.5%** |
| AutoNation, Inc.<br>3.80%, 11/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83854 |
| Costco Wholesale Corp.<br>3.00%, 5/18/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103611 |
| Dollar General Corp.<br>4.63%, 11/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55405 |
| Lowe's Cos., Inc.<br>3.35%, 4/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69188 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312058 |
| **SEMICONDUCTORS — 3.7%** | **SEMICONDUCTORS — 3.7%** | **SEMICONDUCTORS — 3.7%** |
| Advanced Micro Devices, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.21%, 9/24/2026<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80107 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2027 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;4.32%, 3/24/2028<br>| &nbsp;&nbsp;$60000 | &nbsp;&nbsp;$60599 |
| Applied Materials, Inc.<br>3.30%, 4/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123875 |
| Broadcom Corp./Broadcom Cayman Finance Ltd.<br>3.88%, 1/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131447 |
| Broadcom, Inc.<br>5.05%, 7/12/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177767 |
| Intel Corp.<br>3.75%, 8/5/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79188 |
| QUALCOMM, Inc.<br>3.25%, 5/20/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133661 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786644 |
| **SHIPBUILDING — 0.2%** | **SHIPBUILDING — 0.2%** | **SHIPBUILDING — 0.2%** |
| Huntington Ingalls Industries, Inc.<br>3.48%, 12/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44215 |
| **SOFTWARE — 2.7%** | **SOFTWARE — 2.7%** | **SOFTWARE — 2.7%** |
| Fiserv, Inc.<br>5.15%, 3/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40514 |
| Microsoft Corp.<br>3.40%, 6/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74752 |
| Oracle Corp.<br>3.25%, 11/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186291 |
| Synopsys, Inc.<br>4.55%, 4/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91519 |
| Take-Two Interactive Software, Inc.<br>3.70%, 4/14/2027 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49631 |
| VMware LLC<br>4.65%, 5/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140858 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583565 |
| **TELECOMMUNICATIONS — 4.3%** | **TELECOMMUNICATIONS — 4.3%** | **TELECOMMUNICATIONS — 4.3%** |
| AT&T, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.30%, 6/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192737 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 2/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50738 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 3/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161100 |
| NTT Finance Corp.<br>4.57%, 7/16/2027 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201354 |
| T-Mobile USA, Inc.<br>3.75%, 4/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223504 |
| Verizon Communications, Inc.<br>3.00%, 3/22/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93374 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922807 |
| **TRANSPORTATION — 1.4%** | **TRANSPORTATION — 1.4%** | **TRANSPORTATION — 1.4%** |
| Norfolk Southern Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 6/1/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59081 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.80%, 5/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148386 |
| United Parcel Service, Inc.<br>3.05%, 11/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98263 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305730 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **TRUCKING & LEASING — 0.9%** | **TRUCKING & LEASING — 0.9%** | **TRUCKING & LEASING — 0.9%** |
| GATX Corp.<br>3.85%, 3/30/2027<br>| &nbsp;&nbsp;$7000 | &nbsp;&nbsp;$6944 |
| SMBC Aviation Capital Finance DAC<br>1.90%, 10/15/2026 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194438 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201382 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $20,850,332)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20947116 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENTS — 3.9%** | **SHORT-TERM INVESTMENTS — 3.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (d) (e) | 108176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108176 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (f) (g) | 715235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715235 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $823,411)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $823,411)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823411 |
| **TOTAL INVESTMENTS — 102.2%<br>(Cost $21,673,743)<br>** | **TOTAL INVESTMENTS — 102.2%<br>(Cost $21,673,743)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;21770527 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (2.2)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (2.2)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(473425) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $21297102 |

---

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

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

(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 5.0% of net assets as of August 31, 2025, may be resold in transactions exempt from registration, normally to qualified institutional buyers.

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

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

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

(g) Investment of cash collateral for securities loaned.

MTN Medium Term Note <br> REIT Real Estate Investment Trust <br> SOFR Secured Overnight Financing Rate

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2027 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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>| $— | $20947116 | $— | $20947116 |
| Short-Term Investments<br>| &nbsp;&nbsp;823411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823411 |
| **TOTAL INVESTMENTS<br>**  | $823411 | $20947116 | $— | $21770527 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/24/24\*** | **Value at<br>9/24/24\*** | **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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>|  | $— | $1533439 | $1425263 | $— | $— | 108176 | $108176 | $3918 |
| State Street Navigator Securities Lending Portfolio II<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;2852003 | &nbsp;&nbsp;2136768 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 715235 | &nbsp;&nbsp;715235 | &nbsp;&nbsp;&nbsp;&nbsp;215 |
| Total<br>|  | $— | $4385442 | $3562031 | $— | $— |  | $823411 | $4133 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2028 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 98.1%** | **CORPORATE BONDS & NOTES — 98.1%** | **CORPORATE BONDS & NOTES — 98.1%** |
| **AEROSPACE & DEFENSE — 3.9%** | **AEROSPACE & DEFENSE — 3.9%** | **AEROSPACE & DEFENSE — 3.9%** |
| Boeing Co.<br>3.45%, 11/1/2028<br>| &nbsp;&nbsp;$393000 | &nbsp;&nbsp;$383533 |
| Howmet Aerospace, Inc.<br>6.75%, 1/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140459 |
| L3Harris Technologies, Inc.<br>4.40%, 6/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430337 |
| RTX Corp.<br>6.70%, 8/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85526 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039855 |
| **AGRICULTURE — 3.8%** | **AGRICULTURE — 3.8%** | **AGRICULTURE — 3.8%** |
| BAT Capital Corp.<br>2.26%, 3/25/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71426 |
| BAT International Finance PLC<br>4.45%, 3/16/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250950 |
| Bunge Ltd. Finance Corp.<br>4.10%, 1/7/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87968 |
| Imperial Brands Finance PLC<br>4.50%, 6/30/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201090 |
| Philip Morris International, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.13%, 3/2/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59689 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 9/7/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337706 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008829 |
| **AUTO MANUFACTURERS — 3.0%** | **AUTO MANUFACTURERS — 3.0%** | **AUTO MANUFACTURERS — 3.0%** |
| General Motors Financial Co., Inc.<br>5.80%, 6/23/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103514 |
| Stellantis Finance U.S., Inc.<br>5.35%, 3/17/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202156 |
| Toyota Motor Corp.<br>5.12%, 7/13/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470181 |
| Toyota Motor Credit Corp.<br>Series MTN, 5.25%, 9/11/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28993 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804844 |
| **BANKS — 12.0%** | **BANKS — 12.0%** | **BANKS — 12.0%** |
| Bank of America Corp.<br>SOFR + 1.63%, 5.20%, 4/25/2029 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335218 |
| Bank of New York Mellon Corp.<br>Series MTN, 3.00%, 10/30/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93870 |
| Citigroup, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3 mo. USD Term SOFR + 1.45%, 4.08%, 4/23/2029 (b) (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285780 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 1/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21205 |
| Deutsche Bank AG<br>SOFR + 1.59%, 5.71%, 2/8/2028 (b) (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292289 |
| Fifth Third Bancorp<br>3.95%, 3/14/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9944 |
| Goldman Sachs Group, Inc.<br>3 mo. USD Term SOFR + 1.56%, 4.22%, 5/1/2029 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309046 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| JPMorgan Chase & Co.<br>3 mo. USD Term SOFR + 1.38%, 4.01%, 4/23/2029 (c)<br>| &nbsp;&nbsp;$446000 | &nbsp;&nbsp;$443962 |
| KeyCorp<br>Series MTN, 4.10%, 4/30/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84799 |
| Lloyds Banking Group PLC: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 3/22/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100392 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.55%, 8/16/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171773 |
| Morgan Stanley<br>Series MTN, SOFR + 1.59%, 5.16%, 4/20/2029 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271988 |
| Northern Trust Corp.<br>3.65%, 8/3/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20849 |
| PNC Bank NA<br>3.25%, 1/22/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93524 |
| Regions Financial Corp.<br>1.80%, 8/12/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23384 |
| U.S. Bancorp<br>Series MTN, 3.90%, 4/26/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224640 |
| Wells Fargo & Co.<br>Series MTN, 4.15%, 1/24/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346827 |
| Westpac Banking Corp.<br>5.54%, 11/17/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3155687 |
| **BEVERAGES — 0.3%** | **BEVERAGES — 0.3%** | **BEVERAGES — 0.3%** |
| Coca-Cola Co.<br>1.50%, 3/5/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18933 |
| Constellation Brands, Inc.<br>4.65%, 11/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53610 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72543 |
| **BIOTECHNOLOGY — 0.7%** | **BIOTECHNOLOGY — 0.7%** | **BIOTECHNOLOGY — 0.7%** |
| Amgen, Inc.<br>1.65%, 8/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178308 |
| **CHEMICALS — 0.8%** | **CHEMICALS — 0.8%** | **CHEMICALS — 0.8%** |
| Eastman Chemical Co.<br>4.50%, 12/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193903 |
| International Flavors & Fragrances, Inc.<br>4.45%, 9/26/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21096 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214999 |
| **COMMERCIAL SERVICES — 0.0% <sup>\*</sup>** | **COMMERCIAL SERVICES — 0.0% <sup>\*</sup>** | **COMMERCIAL SERVICES — 0.0% <sup>\*</sup>** |
| Global Payments, Inc.<br>4.45%, 6/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13033 |
| **COMPUTERS — 0.7%** | **COMPUTERS — 0.7%** | **COMPUTERS — 0.7%** |
| Crowdstrike Holdings, Inc.<br>3.00%, 2/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141612 |
| Dell International LLC/EMC Corp.<br>5.25%, 2/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39967 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181579 |
| **COSMETICS/PERSONAL CARE — 2.6%** | **COSMETICS/PERSONAL CARE — 2.6%** | **COSMETICS/PERSONAL CARE — 2.6%** |
| Kenvue, Inc.<br>5.05%, 3/22/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678775 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2028 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **DISTRIBUTION & WHOLESALE — 1.1%** | **DISTRIBUTION & WHOLESALE — 1.1%** | **DISTRIBUTION & WHOLESALE — 1.1%** |
| LKQ Corp.<br>5.75%, 6/15/2028<br>| &nbsp;&nbsp;$288000 | &nbsp;&nbsp;$297441 |
| **DIVERSIFIED FINANCIAL SERVICES — 3.8%** | **DIVERSIFIED FINANCIAL SERVICES — 3.8%** | **DIVERSIFIED FINANCIAL SERVICES — 3.8%** |
| Aircastle Ltd.<br>6.50%, 7/18/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210196 |
| Ally Financial, Inc.<br>2.20%, 11/2/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178188 |
| Charles Schwab Corp.<br>3.20%, 1/25/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221787 |
| Jefferies Financial Group, Inc.<br>5.88%, 7/21/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391991 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002162 |
| **ELECTRIC — 8.6%** | **ELECTRIC — 8.6%** | **ELECTRIC — 8.6%** |
| Ameren Illinois Co.<br>3.80%, 5/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99635 |
| American Electric Power Co., Inc.<br>Series J, 4.30%, 12/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185831 |
| Berkshire Hathaway Energy Co.<br>3.25%, 4/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109021 |
| Duke Energy Carolinas LLC<br>Series A, 6.00%, 12/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145475 |
| Edison International<br>5.25%, 11/15/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190937 |
| Entergy Louisiana LLC<br>3.25%, 4/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29452 |
| Exelon Corp.<br>5.15%, 3/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218900 |
| Georgia Power Co.<br>4.65%, 5/16/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305542 |
| Interstate Power & Light Co.<br>4.10%, 9/26/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90933 |
| National Rural Utilities Cooperative Finance Corp.<br>Series MTN, 5.05%, 9/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41077 |
| Pacific Gas & Electric Co.<br>3.75%, 7/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257766 |
| Public Service Electric & Gas Co.<br>Series MTN, 3.65%, 9/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27704 |
| San Diego Gas & Electric Co.<br>4.95%, 8/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295664 |
| Southern Co.<br>4.85%, 6/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261968 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2259905 |
| **ELECTRONICS — 0.4%** | **ELECTRONICS — 0.4%** | **ELECTRONICS — 0.4%** |
| Hubbell, Inc.<br>3.50%, 2/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20661 |
| Vontier Corp.<br>2.40%, 4/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99702 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120363 |
| **FOOD — 2.3%** | **FOOD — 2.3%** | **FOOD — 2.3%** |
| Campbell's Co.<br>4.15%, 3/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338912 |
| Conagra Brands, Inc.<br>4.85%, 11/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234473 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Mondelez International, Inc.<br>4.13%, 5/7/2028<br>| &nbsp;&nbsp;$30000 | &nbsp;&nbsp;$30051 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603436 |
| **HEALTH CARE PRODUCTS — 1.1%** | **HEALTH CARE PRODUCTS — 1.1%** | **HEALTH CARE PRODUCTS — 1.1%** |
| Abbott Laboratories<br>1.15%, 1/30/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46996 |
| Boston Scientific Corp.<br>4.00%, 3/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20048 |
| Stryker Corp.<br>4.85%, 12/8/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212028 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279072 |
| **HEALTH CARE SERVICES — 2.4%** | **HEALTH CARE SERVICES — 2.4%** | **HEALTH CARE SERVICES — 2.4%** |
| Centene Corp.<br>4.25%, 12/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266748 |
| HCA, Inc.<br>5.63%, 9/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366169 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632917 |
| **HOUSEHOLD PRODUCTS — 0.3%** | **HOUSEHOLD PRODUCTS — 0.3%** | **HOUSEHOLD PRODUCTS — 0.3%** |
| Procter & Gamble Co.<br>3.95%, 1/26/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80466 |
| **HOUSEHOLD PRODUCTS & WARES — 0.2%** | **HOUSEHOLD PRODUCTS & WARES — 0.2%** | **HOUSEHOLD PRODUCTS & WARES — 0.2%** |
| Avery Dennison Corp.<br>4.88%, 12/6/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25447 |
| Kimberly-Clark Corp.<br>3.95%, 11/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20034 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45481 |
| **INSURANCE — 2.4%** | **INSURANCE — 2.4%** | **INSURANCE — 2.4%** |
| Athene Holding Ltd.<br>4.13%, 1/12/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168572 |
| Lincoln Financial Global Funding<br>4.63%, 5/28/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75710 |
| Lincoln National Corp.<br>3.80%, 3/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340815 |
| Prudential Financial, Inc.<br>Series MTN, 3.88%, 3/27/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37993 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623090 |
| **LODGING — 1.1%** | **LODGING — 1.1%** | **LODGING — 1.1%** |
| Sands China Ltd.<br>5.40%, 8/8/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280297 |
| **MACHINERY-DIVERSIFIED — 1.4%** | **MACHINERY-DIVERSIFIED — 1.4%** | **MACHINERY-DIVERSIFIED — 1.4%** |
| CNH Industrial Capital LLC<br>4.55%, 4/10/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164366 |
| Ingersoll Rand, Inc.<br>5.40%, 8/14/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206862 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371228 |
| **MEDIA — 2.6%** | **MEDIA — 2.6%** | **MEDIA — 2.6%** |
| Charter Communications Operating LLC/Charter Communications Operating Capital: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 2/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365416 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.20%, 3/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57647 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2028 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Comcast Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.15%, 2/15/2028<br>| &nbsp;&nbsp;$101000 | &nbsp;&nbsp;$98947 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.55%, 5/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28645 |
| Discovery Communications LLC<br>3.95%, 3/20/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51255 |
| TCI Communications, Inc.<br>7.13%, 2/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96318 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698228 |
| **MINING — 1.3%** | **MINING — 1.3%** | **MINING — 1.3%** |
| BHP Billiton Finance USA Ltd.<br>5.10%, 9/8/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31918 |
| Glencore Funding LLC<br>6.13%, 10/6/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307762 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339680 |
| **OFFICE & BUSINESS EQUIPMENT — 0.6%** | **OFFICE & BUSINESS EQUIPMENT — 0.6%** | **OFFICE & BUSINESS EQUIPMENT — 0.6%** |
| CDW LLC/CDW Finance Corp.<br>4.25%, 4/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172109 |
| **OIL & GAS — 4.8%** | **OIL & GAS — 4.8%** | **OIL & GAS — 4.8%** |
| BP Capital Markets America, Inc.<br>4.23%, 11/6/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283325 |
| Chevron USA, Inc.<br>3.85%, 1/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75090 |
| Devon Energy Corp.<br>5.88%, 6/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80021 |
| Occidental Petroleum Corp.<br>6.38%, 9/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234898 |
| Ovintiv, Inc.<br>5.65%, 5/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327279 |
| Shell International Finance BV<br>3.88%, 11/13/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26962 |
| TotalEnergies Capital SA<br>3.88%, 10/11/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232748 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260323 |
| **OIL & GAS SERVICES — 1.2%** | **OIL & GAS SERVICES — 1.2%** | **OIL & GAS SERVICES — 1.2%** |
| Schlumberger Holdings Corp.<br>4.50%, 5/15/2028 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315147 |
| **PACKAGING & CONTAINERS — 1.9%** | **PACKAGING & CONTAINERS — 1.9%** | **PACKAGING & CONTAINERS — 1.9%** |
| Berry Global, Inc.<br>5.50%, 4/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300941 |
| WRKCo, Inc.<br>3.90%, 6/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198568 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499509 |
| **PHARMACEUTICALS — 7.3%** | **PHARMACEUTICALS — 7.3%** | **PHARMACEUTICALS — 7.3%** |
| AbbVie, Inc.<br>4.65%, 3/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182903 |
| Astrazeneca Finance LLC<br>4.88%, 3/3/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399798 |
| Becton Dickinson & Co.<br>4.69%, 2/13/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304844 |
| CVS Health Corp.<br>4.30%, 3/25/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480764 |
| McKesson Corp.<br>4.90%, 7/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153267 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Mylan, Inc.<br>4.55%, 4/15/2028<br>| &nbsp;&nbsp;$331000 | &nbsp;&nbsp;$328908 |
| Pfizer, Inc.<br>3.60%, 9/15/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82527 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1933011 |
| **PIPELINES — 4.7%** | **PIPELINES — 4.7%** | **PIPELINES — 4.7%** |
| Cheniere Energy, Inc.<br>4.63%, 10/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256738 |
| Energy Transfer LP<br>6.10%, 12/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191637 |
| ONEOK, Inc.<br>5.65%, 11/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323061 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp.<br>5.00%, 1/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293366 |
| TransCanada PipeLines Ltd.<br>4.25%, 5/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49040 |
| Williams Cos., Inc.<br>5.30%, 8/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118667 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232509 |
| **REAL ESTATE INVESTMENT TRUSTS — 4.4%** | **REAL ESTATE INVESTMENT TRUSTS — 4.4%** | **REAL ESTATE INVESTMENT TRUSTS — 4.4%** |
| Alexandria Real Estate Equities, Inc.<br>3.95%, 1/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167917 |
| American Homes 4 Rent LP<br>4.25%, 2/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169735 |
| Crown Castle, Inc.<br>3.80%, 2/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59255 |
| Extra Space Storage LP<br>5.70%, 4/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453522 |
| Federal Realty OP LP<br>5.38%, 5/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141879 |
| Mid-America Apartments LP<br>4.20%, 6/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25061 |
| Prologis LP<br>4.00%, 9/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104943 |
| Realty Income Corp.<br>4.70%, 12/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25425 |
| UDR, Inc.<br>Series GMTN, 3.50%, 1/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9858 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157595 |
| **RETAIL — 1.1%** | **RETAIL — 1.1%** | **RETAIL — 1.1%** |
| AutoNation, Inc.<br>3.80%, 11/15/2027<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52285 |
| Genuine Parts Co.<br>6.50%, 11/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93614 |
| Home Depot, Inc.<br>0.90%, 3/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82720 |
| Lowe's Cos., Inc.<br>6.88%, 2/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67068 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295687 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2028 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SEMICONDUCTORS — 8.2%** | **SEMICONDUCTORS — 8.2%** | **SEMICONDUCTORS — 8.2%** |
| Advanced Micro Devices, Inc.<br>4.32%, 3/24/2028<br>| &nbsp;&nbsp;$234000 | &nbsp;&nbsp;$236338 |
| Analog Devices, Inc.<br>1.70%, 10/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121449 |
| Broadcom, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.11%, 9/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425744 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.80%, 4/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101830 |
| Intel Corp.<br>4.88%, 2/10/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215703 |
| Marvell Technology, Inc.<br>4.88%, 6/22/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131843 |
| Micron Technology, Inc.<br>5.38%, 4/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727385 |
| TSMC Arizona Corp.<br>4.13%, 4/22/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200596 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160888 |
| **SHIPBUILDING — 0.3%** | **SHIPBUILDING — 0.3%** | **SHIPBUILDING — 0.3%** |
| Huntington Ingalls Industries, Inc.<br>2.04%, 8/16/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70296 |
| **SOFTWARE — 4.0%** | **SOFTWARE — 4.0%** | **SOFTWARE — 4.0%** |
| Concentrix Corp.<br>6.60%, 8/2/2028 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357553 |
| Fidelity National Information Services, Inc.<br>1.65%, 3/1/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53666 |
| Intuit, Inc.<br>5.13%, 9/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281104 |
| Oracle Corp.<br>4.50%, 5/6/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303534 |
| Roper Technologies, Inc.<br>4.20%, 9/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50072 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045929 |
| **TELECOMMUNICATIONS — 2.7%** | **TELECOMMUNICATIONS — 2.7%** | **TELECOMMUNICATIONS — 2.7%** |
| T-Mobile USA, Inc.<br>4.80%, 7/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484835 |
| Verizon Communications, Inc.<br>4.33%, 9/21/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216425 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701260 |
| **TRANSPORTATION — 0.1%** | **TRANSPORTATION — 0.1%** | **TRANSPORTATION — 0.1%** |
| Canadian National Railway Co.<br>6.90%, 7/15/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26923 |
| **TRUCKING & LEASING — 0.0% <sup>\*</sup>** | **TRUCKING & LEASING — 0.0% <sup>\*</sup>** | **TRUCKING & LEASING — 0.0% <sup>\*</sup>** |
| GATX Corp.<br>4.55%, 11/7/2028<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15089 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $25,540,802)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25868493 |

---

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

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 5.1%** | **SHORT-TERM INVESTMENTS — 5.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (d) (e) | &nbsp;&nbsp;&nbsp;153249 | &nbsp;&nbsp;$153249 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (f) (g) | 1175930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1175930 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $1,329,179)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $1,329,179)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329179 |
| **TOTAL INVESTMENTS — 103.2%<br>(Cost $26,869,981)<br>** | **TOTAL INVESTMENTS — 103.2%<br>(Cost $26,869,981)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;27197672 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (3.2)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (3.2)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(839442) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $26358230 |

---

(a) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 5.0% of net assets as of August 31, 2025, may be resold in transactions exempt from registration, normally to qualified institutional buyers.

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

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

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

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

(f) The Fund invested in an affiliated entity. Amounts related to these investments during the period ended August 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.

GMTN Global Medium Term Note <br> MTN Medium Term Note <br> SOFR Secured Overnight Financing Rate

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2028 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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>| $— | $25868493 | $— | $25868493 |
| Short-Term Investments<br>| &nbsp;&nbsp;1329179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1329179 |
| **TOTAL INVESTMENTS<br>**  | $1329179 | $25868493 | $— | $27197672 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/24/24\*** | **Value at<br>9/24/24\*** | **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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>|  | $— | $2676235 | $2522986 | $— | $— | &nbsp;&nbsp;&nbsp;153249 | $153249 | $4875 |
| State Street Navigator Securities Lending Portfolio II<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;5641915 | &nbsp;&nbsp;4465985 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 1175930 | &nbsp;&nbsp;1175930 | &nbsp;&nbsp;2844 |
| Total<br>|  | $— | $8318150 | $6988971 | $— | $— |  | $1329179 | $7719 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2029 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 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%** |
| **AEROSPACE & DEFENSE — 3.2%** | **AEROSPACE & DEFENSE — 3.2%** | **AEROSPACE & DEFENSE — 3.2%** |
| Boeing Co.<br>6.30%, 5/1/2029<br>| &nbsp;&nbsp;$298000 | &nbsp;&nbsp;$316312 |
| Howmet Aerospace, Inc.<br>3.00%, 1/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202211 |
| L3Harris Technologies, Inc.<br>5.05%, 6/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174515 |
| Northrop Grumman Corp.<br>4.60%, 2/1/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116755 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809793 |
| **AGRICULTURE — 2.9%** | **AGRICULTURE — 2.9%** | **AGRICULTURE — 2.9%** |
| BAT International Finance PLC<br>5.93%, 2/2/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205873 |
| Philip Morris International, Inc.<br>5.63%, 11/17/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515504 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721377 |
| **AUTO MANUFACTURERS — 3.6%** | **AUTO MANUFACTURERS — 3.6%** | **AUTO MANUFACTURERS — 3.6%** |
| Ford Motor Credit Co. LLC<br>5.11%, 5/3/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221873 |
| General Motors Financial Co., Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.90%, 10/6/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136065 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.55%, 7/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226769 |
| Mercedes-Benz Finance North America LLC<br>5.10%, 11/15/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154338 |
| Toyota Motor Credit Corp.<br>Series MTN, 4.45%, 6/29/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174092 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913137 |
| **AUTO PARTS & EQUIPMENT — 0.6%** | **AUTO PARTS & EQUIPMENT — 0.6%** | **AUTO PARTS & EQUIPMENT — 0.6%** |
| BorgWarner, Inc.<br>4.95%, 8/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142895 |
| **BANKS — 6.7%** | **BANKS — 6.7%** | **BANKS — 6.7%** |
| Bank of America Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, 3 mo. USD Term SOFR + 1.47%, 3.97%, 2/7/2030 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99159 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 1.63%, 5.20%, 4/25/2029 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51257 |
| Bank of New York Mellon Corp.<br>Series MTN, 3.85%, 4/26/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229317 |
| Bank of Nova Scotia<br>Series GMTN, 5.45%, 8/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52166 |
| Citigroup, Inc.<br>SOFR + 1.36%, 5.17%, 2/13/2030 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102622 |
| Deutsche Bank AG<br>SOFR + 2.51%, 6.82%, 11/20/2029 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160767 |
| Goldman Sachs Group, Inc.<br>3 mo. USD Term SOFR + 1.42%, 3.81%, 4/23/2029 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98966 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| JPMorgan Chase & Co.<br>3 mo. USD Term SOFR + 1.42%, 3.70%, 5/6/2030 (c)<br>| &nbsp;&nbsp;$150000 | &nbsp;&nbsp;$147096 |
| Morgan Stanley<br>SOFR + 1.45%, 5.17%, 1/16/2030 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77065 |
| Sumitomo Mitsui Financial Group, Inc.<br>3.04%, 7/16/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195826 |
| U.S. Bancorp: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series DMTN, 3.00%, 7/30/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167174 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 2.02%, 5.78%, 6/12/2029 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104166 |
| Wells Fargo & Co.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 1.50%, 5.20%, 1/23/2030 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102875 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series MTN, SOFR + 1.74%, 5.57%, 7/25/2029 (a) (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77740 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666196 |
| **BEVERAGES — 1.4%** | **BEVERAGES — 1.4%** | **BEVERAGES — 1.4%** |
| Anheuser-Busch InBev Worldwide, Inc.<br>4.75%, 1/23/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158415 |
| PepsiCo, Inc.<br>2.63%, 7/29/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190132 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348547 |
| **BIOTECHNOLOGY — 1.8%** | **BIOTECHNOLOGY — 1.8%** | **BIOTECHNOLOGY — 1.8%** |
| Amgen, Inc.<br>4.05%, 8/18/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189103 |
| Gilead Sciences, Inc.<br>4.80%, 11/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145651 |
| Royalty Pharma PLC<br>5.15%, 9/2/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107755 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442509 |
| **CHEMICALS — 2.6%** | **CHEMICALS — 2.6%** | **CHEMICALS — 2.6%** |
| Air Products & Chemicals, Inc.<br>4.60%, 2/8/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45777 |
| Dow Chemical Co.<br>7.38%, 11/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137432 |
| Eastman Chemical Co.<br>5.00%, 8/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218947 |
| Nutrien Ltd.<br>4.20%, 4/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252269 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654425 |
| **COMMERCIAL SERVICES — 1.0%** | **COMMERCIAL SERVICES — 1.0%** | **COMMERCIAL SERVICES — 1.0%** |
| Verisk Analytics, Inc.<br>4.13%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259870 |
| **COMPUTERS — 0.8%** | **COMPUTERS — 0.8%** | **COMPUTERS — 0.8%** |
| Apple, Inc.<br>2.20%, 9/11/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94574 |
| Crowdstrike Holdings, Inc.<br>3.00%, 2/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94408 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188982 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2029 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **DIVERSIFIED FINANCIAL SERVICES — 0.6%** | **DIVERSIFIED FINANCIAL SERVICES — 0.6%** | **DIVERSIFIED FINANCIAL SERVICES — 0.6%** |
| BlackRock Funding, Inc.<br>4.70%, 3/14/2029<br>| &nbsp;&nbsp;$50000 | &nbsp;&nbsp;$51251 |
| Charles Schwab Corp.<br>4.00%, 2/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44976 |
| Enact Holdings, Inc.<br>6.25%, 5/28/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52196 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148423 |
| **ELECTRIC — 8.3%** | **ELECTRIC — 8.3%** | **ELECTRIC — 8.3%** |
| AEP Texas, Inc.<br>5.45%, 5/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51908 |
| Ameren Corp.<br>5.00%, 1/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61375 |
| American Electric Power Co., Inc.<br>5.20%, 1/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154701 |
| CenterPoint Energy, Inc.<br>5.40%, 6/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160637 |
| Consumers Energy Co.<br>4.60%, 5/30/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127112 |
| DTE Energy Co.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series C, 3.40%, 6/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96715 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.10%, 3/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116904 |
| Duke Energy Corp.<br>4.85%, 1/5/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204000 |
| Edison International<br>5.45%, 6/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50546 |
| Entergy Texas, Inc.<br>4.00%, 3/30/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121268 |
| Exelon Corp.<br>5.15%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205758 |
| Georgia Power Co.<br>Series B, 2.65%, 9/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47287 |
| Pacific Gas & Electric Co.<br>5.55%, 5/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97708 |
| PacifiCorp<br>5.10%, 2/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179279 |
| Public Service Enterprise Group, Inc.<br>5.20%, 4/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185708 |
| Southern California Edison Co.<br>5.15%, 6/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76613 |
| Southern Co.<br>5.50%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151171 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088690 |
| **ELECTRONICS — 1.3%** | **ELECTRONICS — 1.3%** | **ELECTRONICS — 1.3%** |
| Allegion PLC<br>3.50%, 10/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164382 |
| Honeywell International, Inc.<br>4.88%, 9/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169859 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334241 |
| **ENTERTAINMENT — 0.3%** | **ENTERTAINMENT — 0.3%** | **ENTERTAINMENT — 0.3%** |
| Warnermedia Holdings, Inc.<br>Series WI, 4.05%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61886 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ENVIRONMENTAL CONTROL — 1.6%** | **ENVIRONMENTAL CONTROL — 1.6%** | **ENVIRONMENTAL CONTROL — 1.6%** |
| Republic Services, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 4/1/2029<br>| &nbsp;&nbsp;$195000 | &nbsp;&nbsp;$200004 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/15/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211845 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411849 |
| **FOOD — 2.1%** | **FOOD — 2.1%** | **FOOD — 2.1%** |
| Campbell's Co.<br>5.20%, 3/21/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143751 |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL<br>3.00%, 2/2/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81343 |
| Mars, Inc.<br>4.80%, 3/1/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101917 |
| Tyson Foods, Inc.<br>4.35%, 3/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200164 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527175 |
| **HEALTH CARE PRODUCTS — 2.6%** | **HEALTH CARE PRODUCTS — 2.6%** | **HEALTH CARE PRODUCTS — 2.6%** |
| Boston Scientific Corp.<br>4.00%, 3/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224467 |
| GE HealthCare Technologies, Inc.<br>4.80%, 8/14/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193880 |
| Thermo Fisher Scientific, Inc.<br>5.00%, 1/31/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231662 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650009 |
| **HEALTH CARE SERVICES — 1.9%** | **HEALTH CARE SERVICES — 1.9%** | **HEALTH CARE SERVICES — 1.9%** |
| Centene Corp.<br>4.63%, 12/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144529 |
| HCA, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96808 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 6/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222829 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464166 |
| **HOME BUILDERS — 1.8%** | **HOME BUILDERS — 1.8%** | **HOME BUILDERS — 1.8%** |
| Toll Brothers Finance Corp.<br>3.80%, 11/1/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439906 |
| **INSURANCE — 4.7%** | **INSURANCE — 4.7%** | **INSURANCE — 4.7%** |
| Allstate Corp.<br>5.05%, 6/24/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102966 |
| Aon North America, Inc.<br>5.15%, 3/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128651 |
| Arthur J Gallagher & Co.<br>4.85%, 12/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246603 |
| Brown & Brown, Inc.<br>4.50%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80252 |
| Chubb INA Holdings LLC<br>4.65%, 8/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189629 |
| Corebridge Financial, Inc.<br>3.85%, 4/5/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69005 |
| Hartford Insurance Group, Inc.<br>2.80%, 8/19/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47408 |
| Marsh & McLennan Cos., Inc.<br>4.38%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146415 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2029 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Principal Financial Group, Inc.<br>3.70%, 5/15/2029<br>| &nbsp;&nbsp;$180000 | &nbsp;&nbsp;$176506 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1187435 |
| **INTERNET — 0.7%** | **INTERNET — 0.7%** | **INTERNET — 0.7%** |
| Alphabet, Inc.<br>4.00%, 5/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85494 |
| Amazon.com, Inc.<br>3.45%, 4/13/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98527 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184021 |
| **INVESTMENT COMPANY SECURITIES — 1.3%** | **INVESTMENT COMPANY SECURITIES — 1.3%** | **INVESTMENT COMPANY SECURITIES — 1.3%** |
| ARES Capital Corp.<br>5.95%, 7/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201550 |
| FS KKR Capital Corp.<br>6.88%, 8/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127639 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329189 |
| **IRON/STEEL — 0.7%** | **IRON/STEEL — 0.7%** | **IRON/STEEL — 0.7%** |
| ArcelorMittal SA<br>4.25%, 7/16/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174545 |
| **IT SERVICES — 0.8%** | **IT SERVICES — 0.8%** | **IT SERVICES — 0.8%** |
| Accenture Capital, Inc.<br>4.05%, 10/4/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74932 |
| IBM International Capital Pte. Ltd.<br>4.60%, 2/5/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126765 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201697 |
| **LODGING — 0.2%** | **LODGING — 0.2%** | **LODGING — 0.2%** |
| Las Vegas Sands Corp.<br>6.00%, 8/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51932 |
| **MACHINERY, CONSTRUCTION & MINING — 0.1%** | **MACHINERY, CONSTRUCTION & MINING — 0.1%** | **MACHINERY, CONSTRUCTION & MINING — 0.1%** |
| Caterpillar, Inc.<br>2.60%, 9/19/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12307 |
| **MACHINERY-DIVERSIFIED — 2.7%** | **MACHINERY-DIVERSIFIED — 2.7%** | **MACHINERY-DIVERSIFIED — 2.7%** |
| CNH Industrial Capital LLC<br>5.10%, 4/20/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66654 |
| Dover Corp.<br>2.95%, 11/4/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266496 |
| Ingersoll Rand, Inc.<br>5.18%, 6/15/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157019 |
| John Deere Capital Corp.<br>Series MTN, 4.85%, 6/11/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196438 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686607 |
| **MEDIA — 2.0%** | **MEDIA — 2.0%** | **MEDIA — 2.0%** |
| Charter Communications Operating LLC/Charter Communications Operating Capital<br>2.25%, 1/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181346 |
| Comcast Corp.<br>4.55%, 1/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255614 |
| Paramount Global<br>4.20%, 6/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64074 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501034 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MINING — 0.8%** | **MINING — 0.8%** | **MINING — 0.8%** |
| Freeport-McMoRan, Inc.<br>5.25%, 9/1/2029 (a)<br>| &nbsp;&nbsp;$50000 | &nbsp;&nbsp;$50722 |
| Glencore Funding LLC<br>5.37%, 4/4/2029 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154585 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205307 |
| **OIL & GAS — 3.5%** | **OIL & GAS — 3.5%** | **OIL & GAS — 3.5%** |
| BP Capital Markets America, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.87%, 11/25/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107912 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.97%, 10/17/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103042 |
| Canadian Natural Resources Ltd.<br>5.00%, 12/15/2029 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76395 |
| Chevron USA, Inc.<br>3.25%, 10/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145677 |
| Diamondback Energy, Inc.<br>3.50%, 12/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226476 |
| Occidental Petroleum Corp.<br>5.20%, 8/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100380 |
| TotalEnergies Capital International SA<br>3.46%, 2/19/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123070 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882952 |
| **PACKAGING & CONTAINERS — 0.2%** | **PACKAGING & CONTAINERS — 0.2%** | **PACKAGING & CONTAINERS — 0.2%** |
| WRKCo, Inc.<br>4.90%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51020 |
| **PHARMACEUTICALS — 5.2%** | **PHARMACEUTICALS — 5.2%** | **PHARMACEUTICALS — 5.2%** |
| AbbVie, Inc.<br>4.80%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362241 |
| Becton Dickinson & Co.<br>5.08%, 6/7/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143996 |
| Bristol-Myers Squibb Co.<br>3.40%, 7/26/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238782 |
| Cardinal Health, Inc.<br>5.00%, 11/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199700 |
| CVS Health Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 8/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143481 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.40%, 6/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103320 |
| Merck & Co., Inc.<br>3.40%, 3/7/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107881 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299401 |
| **PIPELINES — 5.6%** | **PIPELINES — 5.6%** | **PIPELINES — 5.6%** |
| Cheniere Energy Partners LP<br>4.50%, 10/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119722 |
| Enbridge, Inc.<br>5.30%, 4/5/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97984 |
| Energy Transfer LP<br>5.25%, 7/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139116 |
| Enterprise Products Operating LLC<br>3.13%, 7/31/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96324 |
| ONEOK, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 9/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96098 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.35%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124750 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2029 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Plains All American Pipeline LP/PAA Finance Corp.<br>3.55%, 12/15/2029<br>| &nbsp;&nbsp;$80000 | &nbsp;&nbsp;$77124 |
| Targa Resources Corp.<br>6.15%, 3/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100295 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp.<br>6.88%, 1/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543404 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394817 |
| **REAL ESTATE INVESTMENT TRUSTS — 5.9%** | **REAL ESTATE INVESTMENT TRUSTS — 5.9%** | **REAL ESTATE INVESTMENT TRUSTS — 5.9%** |
| Alexandria Real Estate Equities, Inc.<br>4.50%, 7/30/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125495 |
| American Homes 4 Rent LP<br>4.90%, 2/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295229 |
| American Tower Corp.<br>3.80%, 8/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333006 |
| COPT Defense Properties LP<br>2.00%, 1/15/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64654 |
| EPR Properties<br>3.75%, 8/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105617 |
| Equinix, Inc.<br>3.20%, 11/18/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100303 |
| Essex Portfolio LP<br>4.00%, 3/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99026 |
| Extra Space Storage LP<br>4.00%, 6/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53446 |
| Host Hotels & Resorts LP<br>Series H, 3.38%, 12/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175454 |
| Regency Centers LP<br>2.95%, 9/15/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114410 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466640 |
| **RETAIL — 4.5%** | **RETAIL — 4.5%** | **RETAIL — 4.5%** |
| Genuine Parts Co.<br>4.95%, 8/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365224 |
| Home Depot, Inc.<br>4.75%, 6/25/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327718 |
| Lowe's Cos., Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.65%, 4/5/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230836 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210532 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134310 |
| **SEMICONDUCTORS — 4.4%** | **SEMICONDUCTORS — 4.4%** | **SEMICONDUCTORS — 4.4%** |
| Broadcom, Inc.<br>5.05%, 7/12/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406075 |
| Intel Corp.<br>4.00%, 8/5/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154664 |
| Micron Technology, Inc.<br>6.75%, 11/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238698 |
| TSMC Arizona Corp.<br>4.13%, 4/22/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300894 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100331 |
| **SOFTWARE — 3.4%** | **SOFTWARE — 3.4%** | **SOFTWARE — 3.4%** |
| Adobe, Inc.<br>4.80%, 4/4/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66832 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Cadence Design Systems, Inc.<br>4.30%, 9/10/2029<br>| &nbsp;&nbsp;$220000 | &nbsp;&nbsp;$221254 |
| Fiserv, Inc.<br>3.50%, 7/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189199 |
| Oracle Corp.<br>6.15%, 11/9/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79078 |
| Paychex, Inc.<br>5.10%, 4/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66886 |
| Roper Technologies, Inc.<br>4.50%, 10/15/2029 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90727 |
| Synopsys, Inc.<br>4.85%, 4/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66305 |
| Take-Two Interactive Software, Inc.<br>5.40%, 6/12/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83014 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863295 |
| **TELECOMMUNICATIONS — 5.0%** | **TELECOMMUNICATIONS — 5.0%** | **TELECOMMUNICATIONS — 5.0%** |
| AT&T, Inc.<br>4.35%, 3/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371502 |
| Cisco Systems, Inc.<br>4.85%, 2/26/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179723 |
| T-Mobile USA, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 4/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306182 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 1/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136652 |
| Verizon Communications, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 2/8/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103247 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.02%, 12/3/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161660 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1258966 |
| **TRANSPORTATION — 1.4%** | **TRANSPORTATION — 1.4%** | **TRANSPORTATION — 1.4%** |
| Canadian Pacific Railway Co.<br>2.88%, 11/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190038 |
| Union Pacific Corp.<br>3.70%, 3/1/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69141 |
| United Parcel Service, Inc.<br>3.40%, 3/15/2029<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93233 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352412 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $24,189,070)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24612294 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENTS — 8.1%** | **SHORT-TERM INVESTMENTS — 8.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (d) (e) | 162957 | 162957.0 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2029 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (f) (g) | 1864200 | &nbsp;&nbsp;$1864200 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $2,027,157)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $2,027,157)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027157 |
| **TOTAL INVESTMENTS — 106.3%<br>(Cost $26,216,227)<br>** | **TOTAL INVESTMENTS — 106.3%<br>(Cost $26,216,227)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;26639451 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (6.3)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (6.3)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;(1580048) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $25059403 |

---

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

(b) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.9% of net assets as of August 31, 2025, may be resold in transactions exempt from registration, normally to qualified institutional buyers.

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

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

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

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

(g) Investment of cash collateral for securities loaned.

---

| | |
|:---|:---|
| DMTN | Domestic Medium Term Note |
| GMTN | Global Medium Term Note |
| MTN | Medium Term Note |
| SOFR | Secured Overnight Financing Rate |

---

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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>| $— | $24612294 | $— | $24612294 |
| Short-Term Investments<br>| &nbsp;&nbsp;2027157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2027157 |
| **TOTAL INVESTMENTS<br>**  | $2027157 | $24612294 | $— | $26639451 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/24/24\*** | **Value at<br>9/24/24\*** | **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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>|  | $— | $1306378 | $1143421 | $— | $— | &nbsp;&nbsp;&nbsp;162957 | $162957 | $4603 |
| State Street Navigator Securities Lending Portfolio II<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;5165473 | &nbsp;&nbsp;3301273 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 1864200 | &nbsp;&nbsp;1864200 | &nbsp;&nbsp;&nbsp;&nbsp;465 |
| Total<br>|  | $— | $6471851 | $4444694 | $— | $— |  | $2027157 | $5068 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2030 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 97.6%** | **CORPORATE BONDS & NOTES — 97.6%** | **CORPORATE BONDS & NOTES — 97.6%** |
| **ADVERTISING — 0.1%** | **ADVERTISING — 0.1%** | **ADVERTISING — 0.1%** |
| Interpublic Group of Cos., Inc.<br>4.75%, 3/30/2030<br>| &nbsp;&nbsp;$11000 | &nbsp;&nbsp;$11083 |
| **AEROSPACE & DEFENSE — 3.6%** | **AEROSPACE & DEFENSE — 3.6%** | **AEROSPACE & DEFENSE — 3.6%** |
| Boeing Co.<br>5.15%, 5/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357662 |
| Northrop Grumman Corp.<br>4.40%, 5/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400109 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757771 |
| **AGRICULTURE — 4.2%** | **AGRICULTURE — 4.2%** | **AGRICULTURE — 4.2%** |
| BAT Capital Corp.<br>6.34%, 8/2/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283832 |
| Philip Morris International, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.13%, 2/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210987 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 9/7/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398099 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892918 |
| **APPAREL — 0.4%** | **APPAREL — 0.4%** | **APPAREL — 0.4%** |
| NIKE, Inc.<br>2.85%, 3/27/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25624 |
| Tapestry, Inc.<br>5.10%, 3/11/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67436 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93060 |
| **AUTO MANUFACTURERS — 1.8%** | **AUTO MANUFACTURERS — 1.8%** | **AUTO MANUFACTURERS — 1.8%** |
| General Motors Financial Co., Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.60%, 6/21/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94957 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.85%, 4/6/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172410 |
| Hyundai Capital America<br>6.20%, 9/21/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106773 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374140 |
| **BANKS — 9.6%** | **BANKS — 9.6%** | **BANKS — 9.6%** |
| Bank of America Corp.<br>SOFR + 2.15%, 2.59%, 4/29/2031 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240456 |
| Citigroup, Inc.<br>SOFR + 3.91%, 4.41%, 3/31/2031 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182522 |
| Goldman Sachs Group, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 3/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272261 |
| &nbsp;&nbsp;&nbsp;&nbsp;SOFR + 1.21%, 5.05%, 7/23/2030 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233378 |
| Huntington Bancshares, Inc.<br>SOFR + 1.28%, 5.27%, 1/15/2031 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181433 |
| JPMorgan Chase & Co.<br>3 mo. USD Term SOFR + 3.79%, 4.49%, 3/24/2031 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229660 |
| Morgan Stanley<br>Series MTN, SOFR + 3.12%, 3.62%, 4/1/2031 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198266 |
| U.S. Bancorp<br>SOFR + 1.25%, 5.10%, 7/23/2030 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253975 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Wells Fargo & Co.<br>Series MTN, 3 mo. USD Term SOFR + 4.03%, 4.48%, 4/4/2031 (c)<br>| &nbsp;&nbsp;$258000 | &nbsp;&nbsp;$258895 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050846 |
| **BEVERAGES — 2.5%** | **BEVERAGES — 2.5%** | **BEVERAGES — 2.5%** |
| Anheuser-Busch InBev Worldwide, Inc.<br>3.50%, 6/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322103 |
| Constellation Brands, Inc.<br>2.88%, 5/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210483 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532586 |
| **BIOTECHNOLOGY — 2.9%** | **BIOTECHNOLOGY — 2.9%** | **BIOTECHNOLOGY — 2.9%** |
| Amgen, Inc.<br>5.25%, 3/2/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335528 |
| Gilead Sciences, Inc.<br>1.65%, 10/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239412 |
| Royalty Pharma PLC<br>2.20%, 9/2/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49216 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624156 |
| **CHEMICALS — 0.8%** | **CHEMICALS — 0.8%** | **CHEMICALS — 0.8%** |
| Ecolab, Inc.<br>4.80%, 3/24/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77145 |
| EIDP, Inc.<br>2.30%, 7/15/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51422 |
| Nutrien Ltd.<br>2.95%, 5/13/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51745 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180312 |
| **COMMERCIAL SERVICES — 0.5%** | **COMMERCIAL SERVICES — 0.5%** | **COMMERCIAL SERVICES — 0.5%** |
| Automatic Data Processing, Inc.<br>1.25%, 9/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34944 |
| Block Financial LLC<br>3.88%, 8/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67223 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102167 |
| **COMPUTERS — 1.3%** | **COMPUTERS — 1.3%** | **COMPUTERS — 1.3%** |
| Apple, Inc.<br>1.25%, 8/20/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57059 |
| Leidos, Inc.<br>4.38%, 5/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208912 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265971 |
| **CONSTRUCTION MATERIALS — 1.8%** | **CONSTRUCTION MATERIALS — 1.8%** | **CONSTRUCTION MATERIALS — 1.8%** |
| Carrier Global Corp.<br>2.72%, 2/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380295 |
| **COSMETICS/PERSONAL CARE — 2.3%** | **COSMETICS/PERSONAL CARE — 2.3%** | **COSMETICS/PERSONAL CARE — 2.3%** |
| Kenvue, Inc.<br>5.00%, 3/22/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499209 |
| **DIVERSIFIED FINANCIAL SERVICES — 1.6%** | **DIVERSIFIED FINANCIAL SERVICES — 1.6%** | **DIVERSIFIED FINANCIAL SERVICES — 1.6%** |
| Air Lease Corp.<br>3.13%, 12/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76629 |
| Charles Schwab Corp.<br>4.63%, 3/22/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107261 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2030 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Jefferies Financial Group, Inc.<br>4.15%, 1/23/2030<br>| &nbsp;&nbsp;$166000 | &nbsp;&nbsp;$163893 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347783 |
| **ELECTRIC — 5.0%** | **ELECTRIC — 5.0%** | **ELECTRIC — 5.0%** |
| AEP Texas, Inc.<br>Series I, 2.10%, 7/1/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145904 |
| Consolidated Edison Co. of New York, Inc.<br>Series 20A, 3.35%, 4/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88172 |
| Dominion Energy, Inc.<br>Series C, 3.38%, 4/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137258 |
| Duke Energy Corp.<br>2.45%, 6/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109403 |
| Edison International<br>6.25%, 3/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104016 |
| Exelon Corp.<br>4.05%, 4/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107809 |
| FirstEnergy Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 2.25%, 9/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44901 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.65%, 3/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42678 |
| Oncor Electric Delivery Co. LLC<br>2.75%, 5/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45936 |
| Pacific Gas & Electric Co.<br>4.55%, 7/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99043 |
| Southern Co.<br>Series A, 3.70%, 4/30/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1069328 |
| **ELECTRICAL COMPONENTS & EQUIPMENT — 0.3%** | **ELECTRICAL COMPONENTS & EQUIPMENT — 0.3%** | **ELECTRICAL COMPONENTS & EQUIPMENT — 0.3%** |
| Emerson Electric Co.<br>1.95%, 10/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66700 |
| **ELECTRONICS — 1.1%** | **ELECTRONICS — 1.1%** | **ELECTRONICS — 1.1%** |
| Honeywell International, Inc.<br>4.70%, 2/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225356 |
| **FOOD — 1.1%** | **FOOD — 1.1%** | **FOOD — 1.1%** |
| Campbell's Co.<br>2.38%, 4/24/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81329 |
| Kroger Co.<br>2.20%, 5/1/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50248 |
| Mars, Inc.<br>4.80%, 3/1/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94783 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226360 |
| **HEALTH CARE PRODUCTS — 0.6%** | **HEALTH CARE PRODUCTS — 0.6%** | **HEALTH CARE PRODUCTS — 0.6%** |
| Dentsply Sirona, Inc.<br>3.25%, 6/1/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13781 |
| Stryker Corp.<br>1.95%, 6/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68513 |
| Zimmer Biomet Holdings, Inc.<br>3.55%, 3/20/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34587 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116881 |
| **HEALTH CARE SERVICES — 3.5%** | **HEALTH CARE SERVICES — 3.5%** | **HEALTH CARE SERVICES — 3.5%** |
| Centene Corp.<br>3.00%, 10/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110522 |
| HCA, Inc.<br>3.50%, 9/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271753 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| UnitedHealth Group, Inc.<br>5.30%, 2/15/2030<br>| &nbsp;&nbsp;$342000 | &nbsp;&nbsp;$355677 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737952 |
| **INSURANCE — 3.3%** | **INSURANCE — 3.3%** | **INSURANCE — 3.3%** |
| Allstate Corp.<br>1.45%, 12/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61097 |
| Berkshire Hathaway Finance Corp.<br>1.85%, 3/12/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225284 |
| Lincoln National Corp.<br>3.05%, 1/15/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240471 |
| Marsh & McLennan Cos., Inc.<br>4.65%, 3/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50874 |
| Progressive Corp.<br>3.20%, 3/26/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44264 |
| Prudential Financial, Inc.<br>Series MTN, 2.10%, 3/10/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83793 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705783 |
| **INTERNET — 1.9%** | **INTERNET — 1.9%** | **INTERNET — 1.9%** |
| Alphabet, Inc.<br>4.00%, 5/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55319 |
| Amazon.com, Inc.<br>1.50%, 6/3/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216970 |
| Meta Platforms, Inc.<br>4.80%, 5/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127987 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400276 |
| **INVESTMENT COMPANY SECURITIES — 1.4%** | **INVESTMENT COMPANY SECURITIES — 1.4%** | **INVESTMENT COMPANY SECURITIES — 1.4%** |
| ARES Capital Corp.<br>5.50%, 9/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101292 |
| Goldman Sachs Private Credit Corp.<br>6.25%, 5/6/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204812 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306104 |
| **IRON/STEEL — 0.4%** | **IRON/STEEL — 0.4%** | **IRON/STEEL — 0.4%** |
| Vale Overseas Ltd.<br>3.75%, 7/8/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95277 |
| **IT SERVICES — 0.3%** | **IT SERVICES — 0.3%** | **IT SERVICES — 0.3%** |
| Apple, Inc.<br>4.15%, 5/10/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55711 |
| **LODGING — 1.1%** | **LODGING — 1.1%** | **LODGING — 1.1%** |
| Sands China Ltd.<br>4.38%, 6/18/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224321 |
| **MACHINERY-DIVERSIFIED — 0.4%** | **MACHINERY-DIVERSIFIED — 0.4%** | **MACHINERY-DIVERSIFIED — 0.4%** |
| Flowserve Corp.<br>3.50%, 10/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93231 |
| **MEDIA — 2.5%** | **MEDIA — 2.5%** | **MEDIA — 2.5%** |
| Charter Communications Operating LLC/Charter Communications Operating Capital<br>2.80%, 4/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221427 |
| Discovery Communications LLC<br>3.63%, 5/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181270 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2030 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Fox Corp.<br>3.50%, 4/8/2030 (a)<br>| &nbsp;&nbsp;$125000 | &nbsp;&nbsp;$120849 |
| Paramount Global<br>7.88%, 7/30/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10159 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533705 |
| **MINING — 0.8%** | **MINING — 0.8%** | **MINING — 0.8%** |
| Freeport-McMoRan, Inc.<br>4.63%, 8/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46076 |
| Glencore Funding LLC<br>2.50%, 9/1/2030 (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133041 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179117 |
| **OFFICE & BUSINESS EQUIPMENT — 0.8%** | **OFFICE & BUSINESS EQUIPMENT — 0.8%** | **OFFICE & BUSINESS EQUIPMENT — 0.8%** |
| CDW LLC/CDW Finance Corp.<br>5.10%, 3/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162808 |
| **OIL & GAS — 6.6%** | **OIL & GAS — 6.6%** | **OIL & GAS — 6.6%** |
| BP Capital Markets America, Inc.<br>1.75%, 8/10/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142226 |
| Chevron Corp.<br>2.24%, 5/11/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85743 |
| Diamondback Energy, Inc.<br>5.15%, 1/30/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329837 |
| Exxon Mobil Corp.<br>2.61%, 10/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99764 |
| Occidental Petroleum Corp.<br>6.63%, 9/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68085 |
| Ovintiv, Inc.<br>8.13%, 9/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81331 |
| Pioneer Natural Resources Co.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.90%, 8/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342881 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.15%, 1/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41273 |
| Shell Finance U.S., Inc.<br>2.75%, 4/6/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85952 |
| TotalEnergies Capital International SA<br>2.83%, 1/10/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127111 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404203 |
| **OIL & GAS SERVICES — 0.3%** | **OIL & GAS SERVICES — 0.3%** | **OIL & GAS SERVICES — 0.3%** |
| Halliburton Co.<br>2.92%, 3/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16927 |
| Schlumberger Holdings Corp.<br>2.65%, 6/26/2030 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42851 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59778 |
| **PACKAGING & CONTAINERS — 0.6%** | **PACKAGING & CONTAINERS — 0.6%** | **PACKAGING & CONTAINERS — 0.6%** |
| Amcor Flexibles North America, Inc.<br>2.63%, 6/19/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45994 |
| Sonoco Products Co.<br>3.13%, 5/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90357 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136351 |
| **PHARMACEUTICALS — 4.7%** | **PHARMACEUTICALS — 4.7%** | **PHARMACEUTICALS — 4.7%** |
| AbbVie, Inc.<br>4.95%, 3/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124925 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Astrazeneca Finance LLC<br>4.90%, 3/3/2030<br>| &nbsp;&nbsp;$122000 | &nbsp;&nbsp;$125936 |
| Becton Dickinson & Co.<br>2.82%, 5/20/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87038 |
| CVS Health Corp.<br>5.13%, 2/21/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222097 |
| Eli Lilly & Co.<br>4.75%, 2/12/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154264 |
| Pfizer Investment Enterprises Pte. Ltd.<br>4.65%, 5/19/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220048 |
| Viatris, Inc.<br>2.70%, 6/22/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62888 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997196 |
| **PIPELINES — 5.7%** | **PIPELINES — 5.7%** | **PIPELINES — 5.7%** |
| Energy Transfer LP<br>6.40%, 12/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377527 |
| Enterprise Products Operating LLC<br>2.80%, 1/31/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242521 |
| ONEOK, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.10%, 3/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30158 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.80%, 11/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116741 |
| Sabine Pass Liquefaction LLC<br>4.50%, 5/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180560 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp.<br>5.50%, 3/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264084 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211591 |
| **REAL ESTATE INVESTMENT TRUSTS — 3.1%** | **REAL ESTATE INVESTMENT TRUSTS — 3.1%** | **REAL ESTATE INVESTMENT TRUSTS — 3.1%** |
| Alexandria Real Estate Equities, Inc.<br>4.90%, 12/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236586 |
| Essex Portfolio LP<br>3.00%, 1/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189943 |
| Extra Space Storage LP<br>5.50%, 7/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168193 |
| Federal Realty OP LP<br>3.50%, 6/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68367 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663089 |
| **RETAIL — 4.5%** | **RETAIL — 4.5%** | **RETAIL — 4.5%** |
| AutoNation, Inc.<br>4.75%, 6/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75281 |
| AutoZone, Inc.<br>4.00%, 4/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147924 |
| Genuine Parts Co.<br>1.88%, 11/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40401 |
| Lowe's Cos., Inc.<br>4.50%, 4/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84108 |
| McDonald's Corp.<br>Series MTN, 3.60%, 7/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286691 |
| Target Corp.<br>2.35%, 2/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243720 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2030 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Tractor Supply Co.<br>1.75%, 11/1/2030<br>| &nbsp;&nbsp;$88000 | &nbsp;&nbsp;$77144 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955269 |
| **SEMICONDUCTORS — 5.8%** | **SEMICONDUCTORS — 5.8%** | **SEMICONDUCTORS — 5.8%** |
| Broadcom, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.15%, 11/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350513 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.35%, 2/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35059 |
| Intel Corp.<br>5.13%, 2/10/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187456 |
| Marvell Technology, Inc.<br>4.75%, 7/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50471 |
| Micron Technology, Inc.<br>4.66%, 2/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391209 |
| Xilinx, Inc.<br>2.38%, 6/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208231 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1222939 |
| **SHIPBUILDING — 0.3%** | **SHIPBUILDING — 0.3%** | **SHIPBUILDING — 0.3%** |
| Huntington Ingalls Industries, Inc.<br>4.20%, 5/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70066 |
| **SOFTWARE — 1.4%** | **SOFTWARE — 1.4%** | **SOFTWARE — 1.4%** |
| Intuit, Inc.<br>1.65%, 7/15/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48955 |
| Oracle Corp.<br>4.65%, 5/6/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95238 |
| Paychex, Inc.<br>5.10%, 4/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92612 |
| Synopsys, Inc.<br>4.85%, 4/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60184 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296989 |
| **TELECOMMUNICATIONS — 5.4%** | **TELECOMMUNICATIONS — 5.4%** | **TELECOMMUNICATIONS — 5.4%** |
| AT&T, Inc.<br>4.30%, 2/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359108 |
| Deutsche Telekom International Finance BV<br>8.75%, 6/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283934 |
| T-Mobile USA, Inc.<br>3.88%, 4/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356461 |
| Verizon Communications, Inc.<br>3.15%, 3/22/2030 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156545 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156048 |
| **TRANSPORTATION — 1.3%** | **TRANSPORTATION — 1.3%** | **TRANSPORTATION — 1.3%** |
| CSX Corp.<br>2.40%, 2/15/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52052 |
| Norfolk Southern Corp.<br>5.05%, 8/1/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72543 |
| Union Pacific Corp.<br>2.40%, 2/5/2030<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69862 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| United Parcel Service, Inc.<br>4.45%, 4/1/2030<br>| &nbsp;&nbsp;$74000 | &nbsp;&nbsp;$75248 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269705 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $20,316,841)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20754431 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENTS — 6.4%** | **SHORT-TERM INVESTMENTS — 6.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (d) (e) | &nbsp;&nbsp;&nbsp;283471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283471 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (f) (g) | 1076755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076755 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $1,360,226)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $1,360,226)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360226 |
| **TOTAL INVESTMENTS — 104.0%<br>(Cost $21,677,067)<br>** | **TOTAL INVESTMENTS — 104.0%<br>(Cost $21,677,067)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;22114657 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (4.0)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (4.0)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(842639) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $21272018 |

---

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

(b) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 2.7% of net assets as of August 31, 2025, may be resold in transactions exempt from registration, normally to qualified institutional buyers.

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

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

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

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

(g) Investment of cash collateral for securities loaned.

MTN Medium Term Note <br> SOFR Secured Overnight Financing Rate

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2030 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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>| $— | $20754431 | $— | $20754431 |
| Short-Term Investments<br>| &nbsp;&nbsp;1360226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1360226 |
| **TOTAL INVESTMENTS<br>**  | $1360226 | $20754431 | $— | $22114657 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/24/24\*** | **Value at<br>9/24/24\*** | **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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>|  | $— | $2019317 | $1735846 | $— | $— | &nbsp;&nbsp;&nbsp;283471 | $283471 | $4538 |
| State Street Navigator Securities Lending Portfolio II<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;3602815 | &nbsp;&nbsp;2526060 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 1076755 | &nbsp;&nbsp;1076755 | &nbsp;&nbsp;&nbsp;&nbsp;359 |
| Total<br>|  | $— | $5622132 | $4261906 | $— | $— |  | $1360226 | $4897 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2031 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 98.0%** | **CORPORATE BONDS & NOTES — 98.0%** | **CORPORATE BONDS & NOTES — 98.0%** |
| **AEROSPACE & DEFENSE — 3.3%** | **AEROSPACE & DEFENSE — 3.3%** | **AEROSPACE & DEFENSE — 3.3%** |
| Boeing Co.<br>6.39%, 5/1/2031<br>| &nbsp;&nbsp;$65000 | &nbsp;&nbsp;$70566 |
| Howmet Aerospace, Inc.<br>4.85%, 10/15/2031 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51139 |
| L3Harris Technologies, Inc.<br>5.25%, 6/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41536 |
| RTX Corp.<br>6.00%, 3/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43211 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206452 |
| **AGRICULTURE — 4.2%** | **AGRICULTURE — 4.2%** | **AGRICULTURE — 4.2%** |
| BAT Capital Corp.<br>5.83%, 2/20/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74041 |
| Bunge Ltd. Finance Corp.<br>2.75%, 5/14/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54829 |
| Philip Morris International, Inc.<br>5.13%, 2/13/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134210 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263080 |
| **AUTO MANUFACTURERS — 4.0%** | **AUTO MANUFACTURERS — 4.0%** | **AUTO MANUFACTURERS — 4.0%** |
| American Honda Finance Corp.<br>Series GMTN, 5.05%, 7/10/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20525 |
| Ford Motor Co.<br>3.25%, 2/12/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64264 |
| General Motors Financial Co., Inc.<br>5.60%, 6/18/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123798 |
| Toyota Motor Credit Corp.<br>5.10%, 3/21/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41473 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250060 |
| **BANKS — 5.7%** | **BANKS — 5.7%** | **BANKS — 5.7%** |
| Bank of America Corp.<br>SOFR + 1.32%, 2.69%, 4/22/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90703 |
| Bank of Montreal<br>5.51%, 6/4/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52580 |
| Citigroup, Inc.<br>SOFR + 1.17%, 2.56%, 5/1/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53881 |
| Goldman Sachs Group, Inc.<br>SOFR + 1.28%, 2.62%, 4/22/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54153 |
| Huntington Bancshares, Inc.<br>SOFR + 1.28%, 5.27%, 1/15/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15463 |
| JPMorgan Chase & Co.<br>3 mo. USD Term SOFR + 1.25%, 2.58%, 4/22/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90449 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357229 |
| **BEVERAGES — 0.2%** | **BEVERAGES — 0.2%** | **BEVERAGES — 0.2%** |
| Keurig Dr. Pepper, Inc.<br>Series 10, 5.20%, 3/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10233 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **BIOTECHNOLOGY — 1.5%** | **BIOTECHNOLOGY — 1.5%** | **BIOTECHNOLOGY — 1.5%** |
| Illumina, Inc.<br>2.55%, 3/23/2031<br>| &nbsp;&nbsp;$50000 | &nbsp;&nbsp;$44537 |
| Royalty Pharma PLC<br>2.15%, 9/2/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52153 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96690 |
| **COMMERCIAL SERVICES — 0.7%** | **COMMERCIAL SERVICES — 0.7%** | **COMMERCIAL SERVICES — 0.7%** |
| Equifax, Inc.<br>2.35%, 9/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44087 |
| **COMPUTERS — 0.7%** | **COMPUTERS — 0.7%** | **COMPUTERS — 0.7%** |
| Leidos, Inc.<br>2.30%, 2/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44462 |
| **CONSTRUCTION MATERIALS — 0.8%** | **CONSTRUCTION MATERIALS — 0.8%** | **CONSTRUCTION MATERIALS — 0.8%** |
| Carrier Global Corp.<br>2.70%, 2/15/2031 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50575 |
| **DIVERSIFIED FINANCIAL SERVICES — 4.0%** | **DIVERSIFIED FINANCIAL SERVICES — 4.0%** | **DIVERSIFIED FINANCIAL SERVICES — 4.0%** |
| Air Lease Corp.<br>Series MTN, 5.20%, 7/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51423 |
| Charles Schwab Corp.<br>2.30%, 5/13/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112424 |
| Jefferies Financial Group, Inc.<br>2.63%, 10/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66308 |
| Mastercard, Inc.<br>2.00%, 11/18/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21964 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252119 |
| **ELECTRIC — 9.0%** | **ELECTRIC — 9.0%** | **ELECTRIC — 9.0%** |
| Appalachian Power Co.<br>Series AA, 2.70%, 4/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46410 |
| CenterPoint Energy, Inc.<br>2.65%, 6/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67793 |
| DTE Electric Co.<br>Series C, 2.63%, 3/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45937 |
| Duke Energy Florida LLC<br>2.40%, 12/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67163 |
| Pacific Gas & Electric Co.<br>3.25%, 6/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68777 |
| PacifiCorp<br>5.30%, 2/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93382 |
| Public Service Enterprise Group, Inc.<br>2.45%, 11/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79791 |
| Southern California Edison Co.<br>5.45%, 6/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51725 |
| Virginia Electric & Power Co.<br>2.30%, 11/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44168 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565146 |
| **ELECTRONICS — 1.2%** | **ELECTRONICS — 1.2%** | **ELECTRONICS — 1.2%** |
| Honeywell International, Inc.<br>4.95%, 9/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51541 |
| Vontier Corp.<br>2.95%, 4/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78850 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2031 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **FOOD — 1.2%** | **FOOD — 1.2%** | **FOOD — 1.2%** |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL<br>3.75%, 12/1/2031<br>| &nbsp;&nbsp;$80000 | &nbsp;&nbsp;$75363 |
| **HEALTH CARE PRODUCTS — 2.5%** | **HEALTH CARE PRODUCTS — 2.5%** | **HEALTH CARE PRODUCTS — 2.5%** |
| Agilent Technologies, Inc.<br>2.30%, 3/12/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40376 |
| Revvity, Inc.<br>2.55%, 3/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40160 |
| Thermo Fisher Scientific, Inc.<br>2.00%, 10/15/2031 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26469 |
| Zimmer Biomet Holdings, Inc.<br>2.60%, 11/24/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49167 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156172 |
| **HEALTH CARE SERVICES — 3.1%** | **HEALTH CARE SERVICES — 3.1%** | **HEALTH CARE SERVICES — 3.1%** |
| Centene Corp.<br>2.63%, 8/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55125 |
| HCA, Inc.<br>5.45%, 4/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62282 |
| Humana, Inc.<br>5.38%, 4/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25752 |
| UnitedHealth Group, Inc.<br>4.90%, 4/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51162 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194321 |
| **HOUSEHOLD PRODUCTS & WARES — 1.1%** | **HOUSEHOLD PRODUCTS & WARES — 1.1%** | **HOUSEHOLD PRODUCTS & WARES — 1.1%** |
| Church & Dwight Co., Inc.<br>2.30%, 12/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70434 |
| **INSURANCE — 4.1%** | **INSURANCE — 4.1%** | **INSURANCE — 4.1%** |
| Arthur J Gallagher & Co.<br>2.40%, 11/9/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79640 |
| Athene Holding Ltd.<br>3.50%, 1/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80475 |
| Brown & Brown, Inc.<br>2.38%, 3/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35542 |
| Corebridge Financial, Inc.<br>3.90%, 4/5/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23661 |
| Fidelity National Financial, Inc.<br>2.45%, 3/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35249 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254567 |
| **INTERNET — 0.4%** | **INTERNET — 0.4%** | **INTERNET — 0.4%** |
| Amazon.com, Inc.<br>3.60%, 4/13/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24043 |
| **INVESTMENT COMPANY SECURITIES — 0.7%** | **INVESTMENT COMPANY SECURITIES — 0.7%** | **INVESTMENT COMPANY SECURITIES — 0.7%** |
| ARES Capital Corp.<br>3.20%, 11/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44549 |
| **IT SERVICES — 1.5%** | **IT SERVICES — 1.5%** | **IT SERVICES — 1.5%** |
| Hewlett Packard Enterprise Co.<br>4.85%, 10/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50379 |
| Leidos, Inc.<br>5.40%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41324 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91703 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **LEISURE TIME — 0.8%** | **LEISURE TIME — 0.8%** | **LEISURE TIME — 0.8%** |
| Royal Caribbean Cruises Ltd.<br>5.63%, 9/30/2031 (c)<br>| &nbsp;&nbsp;$50000 | &nbsp;&nbsp;$50849 |
| **MACHINERY-DIVERSIFIED — 1.6%** | **MACHINERY-DIVERSIFIED — 1.6%** | **MACHINERY-DIVERSIFIED — 1.6%** |
| Ingersoll Rand, Inc.<br>5.31%, 6/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57439 |
| John Deere Capital Corp.<br>Series MTN, 4.90%, 3/7/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41234 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98673 |
| **MEDIA — 2.3%** | **MEDIA — 2.3%** | **MEDIA — 2.3%** |
| Charter Communications Operating LLC/Charter Communications Operating Capital<br>2.80%, 4/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72009 |
| Comcast Corp.<br>1.95%, 1/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17715 |
| Paramount Global<br>4.95%, 1/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24849 |
| Walt Disney Co.<br>2.65%, 1/13/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27875 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142448 |
| **MINING — 0.7%** | **MINING — 0.7%** | **MINING — 0.7%** |
| Glencore Funding LLC<br>2.85%, 4/27/2031 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45579 |
| **OFFICE & BUSINESS EQUIPMENT — 0.4%** | **OFFICE & BUSINESS EQUIPMENT — 0.4%** | **OFFICE & BUSINESS EQUIPMENT — 0.4%** |
| CDW LLC/CDW Finance Corp.<br>3.57%, 12/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23287 |
| **OIL & GAS — 4.0%** | **OIL & GAS — 4.0%** | **OIL & GAS — 4.0%** |
| Diamondback Energy, Inc.<br>3.13%, 3/24/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55598 |
| Occidental Petroleum Corp.<br>6.13%, 1/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83639 |
| Ovintiv, Inc.<br>7.38%, 11/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66437 |
| Pioneer Natural Resources Co.<br>2.15%, 1/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44863 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250537 |
| **PACKAGING & CONTAINERS — 2.0%** | **PACKAGING & CONTAINERS — 2.0%** | **PACKAGING & CONTAINERS — 2.0%** |
| Berry Global, Inc.<br>5.80%, 6/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100537 |
| WestRock MWV LLC<br>7.95%, 2/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23215 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123752 |
| **PHARMACEUTICALS — 5.8%** | **PHARMACEUTICALS — 5.8%** | **PHARMACEUTICALS — 5.8%** |
| AbbVie, Inc.<br>4.95%, 3/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154866 |
| Astrazeneca Finance LLC<br>4.90%, 2/26/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41339 |
| Becton Dickinson & Co.<br>1.96%, 2/11/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21975 |
| Bristol-Myers Squibb Co.<br>5.75%, 2/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26739 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2031 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Cencora, Inc.<br>2.70%, 3/15/2031<br>| &nbsp;&nbsp;$20000 | &nbsp;&nbsp;$18288 |
| CVS Health Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.88%, 2/28/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25974 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.55%, 6/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36547 |
| Novartis Capital Corp.<br>4.00%, 9/18/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39715 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365443 |
| **PIPELINES — 4.4%** | **PIPELINES — 4.4%** | **PIPELINES — 4.4%** |
| Cheniere Energy Partners LP<br>4.00%, 3/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57842 |
| Kinder Morgan, Inc.<br>2.00%, 2/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48457 |
| ONEOK, Inc.<br>6.35%, 1/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53655 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp.<br>4.88%, 2/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79678 |
| Williams Cos., Inc.<br>2.60%, 3/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36160 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275792 |
| **REAL ESTATE INVESTMENT TRUSTS — 9.1%** | **REAL ESTATE INVESTMENT TRUSTS — 9.1%** | **REAL ESTATE INVESTMENT TRUSTS — 9.1%** |
| Alexandria Real Estate Equities, Inc.<br>3.38%, 8/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74661 |
| American Homes 4 Rent LP<br>2.38%, 7/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35345 |
| Brixmor Operating Partnership LP<br>2.50%, 8/16/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22164 |
| COPT Defense Properties LP<br>2.75%, 4/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36043 |
| Crown Castle, Inc.<br>2.50%, 7/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35404 |
| Essex Portfolio LP<br>2.55%, 6/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26793 |
| Extra Space Storage LP<br>5.90%, 1/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132678 |
| Highwoods Realty LP<br>2.60%, 2/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35121 |
| Invitation Homes Operating Partnership LP<br>2.00%, 8/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55920 |
| Kimco Realty OP LLC<br>2.25%, 12/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43868 |
| Phillips Edison Grocery Center Operating Partnership I LP<br>2.63%, 11/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22120 |
| Tanger Properties LP<br>2.75%, 9/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17889 |
| Ventas Realty LP<br>2.50%, 9/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35645 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573651 |
| **RETAIL — 3.1%** | **RETAIL — 3.1%** | **RETAIL — 3.1%** |
| AutoNation, Inc.<br>2.40%, 8/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65322 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Dick's Sporting Goods, Inc.<br>3.15%, 1/15/2032 (a)<br>| &nbsp;&nbsp;$60000 | &nbsp;&nbsp;$54530 |
| Lowe's Cos., Inc.<br>2.63%, 4/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45524 |
| Starbucks Corp.<br>4.90%, 2/15/2031 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30863 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196239 |
| **SEMICONDUCTORS — 5.3%** | **SEMICONDUCTORS — 5.3%** | **SEMICONDUCTORS — 5.3%** |
| Broadcom, Inc.<br>5.15%, 11/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155052 |
| Intel Corp.<br>5.00%, 2/21/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50953 |
| Micron Technology, Inc.<br>5.30%, 1/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128911 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334916 |
| **SOFTWARE — 2.6%** | **SOFTWARE — 2.6%** | **SOFTWARE — 2.6%** |
| AppLovin Corp.<br>5.38%, 12/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25715 |
| Oracle Corp.<br>2.88%, 3/25/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68780 |
| Salesforce, Inc.<br>1.95%, 7/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66426 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160921 |
| **TELECOMMUNICATIONS — 5.5%** | **TELECOMMUNICATIONS — 5.5%** | **TELECOMMUNICATIONS — 5.5%** |
| AT&T, Inc.<br>2.75%, 6/1/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128012 |
| Cisco Systems, Inc.<br>4.95%, 2/26/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51749 |
| T-Mobile USA, Inc.<br>3.50%, 4/15/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113592 |
| Verizon Communications, Inc.<br>2.55%, 3/21/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54412 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347765 |
| **TRANSPORTATION — 0.5%** | **TRANSPORTATION — 0.5%** | **TRANSPORTATION — 0.5%** |
| Canadian Pacific Railway Co.<br>2.45%, 12/2/2031<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31014 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $6,086,757)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6151001 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENTS — 4.3%** | **SHORT-TERM INVESTMENTS — 4.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (d) (e) | 61370 | 61370.0 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2031 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (f) (g) | 206990 | &nbsp;&nbsp;$206990 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $268,360)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $268,360)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268360 |
| **TOTAL INVESTMENTS — 102.3%<br>(Cost $6,355,117)<br>** | **TOTAL INVESTMENTS — 102.3%<br>(Cost $6,355,117)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;6419361 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (2.3)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (2.3)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(145986) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $6273375 |

---

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

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

(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.5% of net assets as of August 31, 2025, may be resold in transactions exempt from registration, normally to qualified institutional buyers.

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

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

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

(g) Investment of cash collateral for securities loaned.

GMTN Global Medium Term Note <br> MTN Medium Term Note <br> SOFR Secured Overnight Financing Rate

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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>| $— | $6151001 | $— | $6151001 |
| Short-Term Investments<br>| &nbsp;&nbsp;268360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;268360 |
| **TOTAL INVESTMENTS<br>**  | $268360 | $6151001 | $— | $6419361 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/24/24\*** | **Value at<br>9/24/24\*** | **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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>|  | $— | $852169 | $790799 | $— | $— | &nbsp;&nbsp;61370 | $61370 | $2141 |
| State Street Navigator Securities Lending Portfolio II<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;1229175 | &nbsp;&nbsp;1022185 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 206990 | &nbsp;&nbsp;206990 | &nbsp;&nbsp;&nbsp;&nbsp;83 |
| Total<br>|  | $— | $2081344 | $1812984 | $— | $— |  | $268360 | $2224 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2032 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 97.5%** | **CORPORATE BONDS & NOTES — 97.5%** | **CORPORATE BONDS & NOTES — 97.5%** |
| **AGRICULTURE — 3.5%** | **AGRICULTURE — 3.5%** | **AGRICULTURE — 3.5%** |
| BAT Capital Corp.<br>5.35%, 8/15/2032<br>| &nbsp;&nbsp;$75000 | &nbsp;&nbsp;$77192 |
| Philip Morris International, Inc.<br>5.75%, 11/17/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137561 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214753 |
| **AUTO MANUFACTURERS — 2.4%** | **AUTO MANUFACTURERS — 2.4%** | **AUTO MANUFACTURERS — 2.4%** |
| Ford Motor Co.<br>6.10%, 8/19/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70702 |
| General Motors Co.<br>5.60%, 10/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77042 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147744 |
| **BANKS — 8.8%** | **BANKS — 8.8%** | **BANKS — 8.8%** |
| Bank of America Corp.<br>SOFR + 1.83%, 4.57%, 4/27/2033 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74230 |
| Citigroup, Inc.<br>SOFR + 2.09%, 4.91%, 5/24/2033 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100347 |
| Goldman Sachs Group, Inc.<br>SOFR + 1.41%, 3.10%, 2/24/2033 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90967 |
| Huntington Bancshares, Inc.<br>SOFR + 2.05%, 5.02%, 5/17/2033 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50037 |
| JPMorgan Chase & Co.<br>SOFR + 1.80%, 4.59%, 4/26/2033 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74607 |
| Morgan Stanley<br>SOFR + 1.29%, 2.94%, 1/21/2033 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67590 |
| Wells Fargo & Co.<br>Series MTN, SOFR + 1.50%, 3.35%, 3/2/2033 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92216 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549994 |
| **BEVERAGES — 1.1%** | **BEVERAGES — 1.1%** | **BEVERAGES — 1.1%** |
| Constellation Brands, Inc.<br>4.75%, 5/9/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66915 |
| **BIOTECHNOLOGY — 0.6%** | **BIOTECHNOLOGY — 0.6%** | **BIOTECHNOLOGY — 0.6%** |
| Amgen, Inc.<br>3.35%, 2/22/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37271 |
| **CHEMICALS — 0.7%** | **CHEMICALS — 0.7%** | **CHEMICALS — 0.7%** |
| Ecolab, Inc.<br>2.13%, 2/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43526 |
| **COMPUTERS — 0.8%** | **COMPUTERS — 0.8%** | **COMPUTERS — 0.8%** |
| Apple, Inc.<br>3.35%, 8/8/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52148 |
| **DISTRIBUTION & WHOLESALE — 0.4%** | **DISTRIBUTION & WHOLESALE — 0.4%** | **DISTRIBUTION & WHOLESALE — 0.4%** |
| LKQ Corp.<br>6.25%, 6/15/2033 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26425 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **DIVERSIFIED FINANCIAL SERVICES — 3.7%** | **DIVERSIFIED FINANCIAL SERVICES — 3.7%** | **DIVERSIFIED FINANCIAL SERVICES — 3.7%** |
| Air Lease Corp.<br>Series MTN, 2.88%, 1/15/2032 (b)<br>| &nbsp;&nbsp;$105000 | &nbsp;&nbsp;$94120 |
| Capital One Financial Corp.<br>6.70%, 11/29/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33004 |
| Charles Schwab Corp.<br>2.90%, 3/3/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54357 |
| Jefferies Financial Group, Inc.<br>2.75%, 10/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47219 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228700 |
| **ELECTRIC — 11.5%** | **ELECTRIC — 11.5%** | **ELECTRIC — 11.5%** |
| AEP Texas, Inc.<br>4.70%, 5/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104296 |
| CenterPoint Energy Houston Electric LLC<br>Series AI, 4.45%, 10/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78995 |
| DTE Electric Co.<br>Series A, 3.00%, 3/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68960 |
| Duke Energy Corp.<br>4.50%, 8/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98675 |
| Exelon Corp.<br>3.35%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92886 |
| Georgia Power Co.<br>4.70%, 5/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50287 |
| Pacific Gas & Electric Co.<br>5.90%, 6/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52049 |
| Southern California Edison Co.<br>5.95%, 11/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84121 |
| Southern Co.<br>5.70%, 10/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84339 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714608 |
| **ELECTRICAL COMPONENTS & EQUIPMENT — 0.9%** | **ELECTRICAL COMPONENTS & EQUIPMENT — 0.9%** | **ELECTRICAL COMPONENTS & EQUIPMENT — 0.9%** |
| Emerson Electric Co.<br>6.00%, 8/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54605 |
| **ELECTRONICS — 0.8%** | **ELECTRONICS — 0.8%** | **ELECTRONICS — 0.8%** |
| Honeywell International, Inc.<br>4.75%, 2/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50763 |
| **ENTERTAINMENT — 1.1%** | **ENTERTAINMENT — 1.1%** | **ENTERTAINMENT — 1.1%** |
| Warnermedia Holdings, Inc.<br>4.28%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65569 |
| **ENVIRONMENTAL CONTROL — 0.4%** | **ENVIRONMENTAL CONTROL — 0.4%** | **ENVIRONMENTAL CONTROL — 0.4%** |
| Waste Connections, Inc.<br>3.20%, 6/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23054 |
| **FOOD — 1.8%** | **FOOD — 1.8%** | **FOOD — 1.8%** |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL<br>3.00%, 5/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115019 |
| **HEALTH CARE PRODUCTS — 0.4%** | **HEALTH CARE PRODUCTS — 0.4%** | **HEALTH CARE PRODUCTS — 0.4%** |
| Thermo Fisher Scientific, Inc.<br>4.95%, 11/21/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25662 |
| **HEALTH CARE SERVICES — 1.8%** | **HEALTH CARE SERVICES — 1.8%** | **HEALTH CARE SERVICES — 1.8%** |
| HCA, Inc.<br>3.63%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51110 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2032 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| UnitedHealth Group, Inc.<br>4.20%, 5/15/2032<br>| &nbsp;&nbsp;$65000 | &nbsp;&nbsp;$63364 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114474 |
| **HOUSEHOLD PRODUCTS & WARES — 1.8%** | **HOUSEHOLD PRODUCTS & WARES — 1.8%** | **HOUSEHOLD PRODUCTS & WARES — 1.8%** |
| Church & Dwight Co., Inc.<br>5.60%, 11/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110821 |
| **INSURANCE — 4.4%** | **INSURANCE — 4.4%** | **INSURANCE — 4.4%** |
| Brown & Brown, Inc.<br>4.20%, 3/17/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47757 |
| Corebridge Financial, Inc.<br>3.90%, 4/5/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99377 |
| Lincoln National Corp.<br>3.40%, 3/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73154 |
| Progressive Corp.<br>6.25%, 12/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55293 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275581 |
| **INTERNET — 2.1%** | **INTERNET — 2.1%** | **INTERNET — 2.1%** |
| Amazon.com, Inc.<br>4.70%, 12/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132900 |
| **IRON/STEEL — 2.1%** | **IRON/STEEL — 2.1%** | **IRON/STEEL — 2.1%** |
| ArcelorMittal SA<br>6.80%, 11/29/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88514 |
| Vale Overseas Ltd.<br>6.13%, 6/12/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42144 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130658 |
| **IT SERVICES — 1.1%** | **IT SERVICES — 1.1%** | **IT SERVICES — 1.1%** |
| Leidos, Inc.<br>5.40%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41323 |
| NetApp, Inc.<br>5.50%, 3/17/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25882 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67205 |
| **LEISURE TIME — 0.8%** | **LEISURE TIME — 0.8%** | **LEISURE TIME — 0.8%** |
| Royal Caribbean Cruises Ltd.<br>5.63%, 9/30/2031 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50849 |
| **LODGING — 0.7%** | **LODGING — 0.7%** | **LODGING — 0.7%** |
| Hyatt Hotels Corp.<br>5.75%, 3/30/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41470 |
| **MACHINERY-DIVERSIFIED — 1.1%** | **MACHINERY-DIVERSIFIED — 1.1%** | **MACHINERY-DIVERSIFIED — 1.1%** |
| Flowserve Corp.<br>2.80%, 1/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70166 |
| **MEDIA — 1.6%** | **MEDIA — 1.6%** | **MEDIA — 1.6%** |
| Charter Communications Operating LLC/Charter Communications Operating Capital<br>4.40%, 4/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98762 |
| **MINING — 0.9%** | **MINING — 0.9%** | **MINING — 0.9%** |
| Glencore Funding LLC<br>2.63%, 9/23/2031 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53533 |
| **MISCELLANEOUS MANUFACTURER — 0.4%** | **MISCELLANEOUS MANUFACTURER — 0.4%** | **MISCELLANEOUS MANUFACTURER — 0.4%** |
| Eaton Corp.<br>4.00%, 11/2/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24247 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **OIL & GAS — 1.8%** | **OIL & GAS — 1.8%** | **OIL & GAS — 1.8%** |
| BP Capital Markets America, Inc.<br>2.72%, 1/12/2032<br>| &nbsp;&nbsp;$55000 | &nbsp;&nbsp;$49550 |
| Occidental Petroleum Corp.<br>5.38%, 1/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65386 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114936 |
| **PACKAGING & CONTAINERS — 1.9%** | **PACKAGING & CONTAINERS — 1.9%** | **PACKAGING & CONTAINERS — 1.9%** |
| Sonoco Products Co.<br>2.85%, 2/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71295 |
| WRKCo, Inc.<br>4.20%, 6/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48361 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119656 |
| **PHARMACEUTICALS — 3.5%** | **PHARMACEUTICALS — 3.5%** | **PHARMACEUTICALS — 3.5%** |
| Becton Dickinson & Co.<br>4.30%, 8/22/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102481 |
| Bristol-Myers Squibb Co.<br>2.95%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45590 |
| Zoetis, Inc.<br>5.60%, 11/16/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68828 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216899 |
| **PIPELINES — 4.0%** | **PIPELINES — 4.0%** | **PIPELINES — 4.0%** |
| Cheniere Energy Partners LP<br>3.25%, 1/31/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72403 |
| Kinder Morgan, Inc.<br>4.80%, 2/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49441 |
| ONEOK, Inc.<br>6.10%, 11/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79697 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp.<br>4.00%, 1/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47034 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248575 |
| **REAL ESTATE INVESTMENT TRUSTS — 5.4%** | **REAL ESTATE INVESTMENT TRUSTS — 5.4%** | **REAL ESTATE INVESTMENT TRUSTS — 5.4%** |
| Alexandria Real Estate Equities, Inc.<br>2.00%, 5/18/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46097 |
| American Homes 4 Rent LP<br>3.63%, 4/15/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46480 |
| American Tower Corp.<br>4.05%, 3/15/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101122 |
| Extra Space Storage LP<br>2.35%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68783 |
| Simon Property Group LP<br>2.65%, 2/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71258 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333740 |
| **RETAIL — 5.1%** | **RETAIL — 5.1%** | **RETAIL — 5.1%** |
| AutoNation, Inc.<br>3.85%, 3/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23258 |
| Dick's Sporting Goods, Inc.<br>3.15%, 1/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113605 |
| Genuine Parts Co.<br>2.75%, 2/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88289 |
| Lowe's Cos., Inc.<br>3.75%, 4/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66455 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2032 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Starbucks Corp.<br>3.00%, 2/14/2032<br>| &nbsp;&nbsp;$30000 | &nbsp;&nbsp;$27394 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319001 |
| **SEMICONDUCTORS — 8.6%** | **SEMICONDUCTORS — 8.6%** | **SEMICONDUCTORS — 8.6%** |
| Advanced Micro Devices, Inc.<br>3.92%, 6/1/2032 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126394 |
| Broadcom, Inc.<br>4.30%, 11/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194792 |
| Intel Corp.<br>4.00%, 12/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46942 |
| Micron Technology, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.70%, 4/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87954 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.65%, 11/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36556 |
| QUALCOMM, Inc.<br>4.25%, 5/20/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19873 |
| Texas Instruments, Inc.<br>3.65%, 8/16/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23787 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536298 |
| **SOFTWARE — 2.9%** | **SOFTWARE — 2.9%** | **SOFTWARE — 2.9%** |
| Oracle Corp.<br>6.25%, 11/9/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108006 |
| Take-Two Interactive Software, Inc.<br>4.00%, 4/14/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71522 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179528 |
| **TELECOMMUNICATIONS — 5.5%** | **TELECOMMUNICATIONS — 5.5%** | **TELECOMMUNICATIONS — 5.5%** |
| AT&T, Inc.<br>2.25%, 2/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112563 |
| T-Mobile USA, Inc.<br>2.70%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115158 |
| Verizon Communications, Inc.<br>2.36%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112840 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340561 |
| **TRANSPORTATION — 0.7%** | **TRANSPORTATION — 0.7%** | **TRANSPORTATION — 0.7%** |
| Norfolk Southern Corp.<br>3.00%, 3/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45530 |
| **TRUCKING & LEASING — 0.4%** | **TRUCKING & LEASING — 0.4%** | **TRUCKING & LEASING — 0.4%** |
| GATX Corp.<br>3.50%, 6/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23003 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $6,064,388)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6065149 |

---

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

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 10.6%** | **SHORT-TERM INVESTMENTS — 10.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (d) (e) | &nbsp;&nbsp;82583 | &nbsp;&nbsp;$82583 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (f) (g) | 574158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574158 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $656,741)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $656,741)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656741 |
| **TOTAL INVESTMENTS — 108.1%<br>(Cost $6,721,129)<br>** | **TOTAL INVESTMENTS — 108.1%<br>(Cost $6,721,129)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;6721890 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (8.1)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (8.1)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(502194) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $6219696 |

---

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

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

(c) 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 August 31, 2025, may be resold in transactions exempt from registration, normally to qualified institutional buyers.

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

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

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

(g) Investment of cash collateral for securities loaned.

MTN Medium Term Note <br> SOFR Secured Overnight Financing Rate

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2032 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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>| $— | $6065149 | $— | $6065149 |
| Short-Term Investments<br>| &nbsp;&nbsp;656741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;656741 |
| **TOTAL INVESTMENTS<br>**  | $656741 | $6065149 | $— | $6721890 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/24/24\*** | **Value at<br>9/24/24\*** | **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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>|  | $— | $822753 | $740170 | $— | $— | &nbsp;&nbsp;82583 | $82583 | $3678 |
| State Street Navigator Securities Lending Portfolio II<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;2211153 | &nbsp;&nbsp;1636995 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 574158 | &nbsp;&nbsp;574158 | &nbsp;&nbsp;&nbsp;&nbsp;126 |
| Total<br>|  | $— | $3033906 | $2377165 | $— | $— |  | $656741 | $3804 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2033 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 96.8%** | **CORPORATE BONDS & NOTES — 96.8%** | **CORPORATE BONDS & NOTES — 96.8%** |
| **AEROSPACE & DEFENSE — 0.8%** | **AEROSPACE & DEFENSE — 0.8%** | **AEROSPACE & DEFENSE — 0.8%** |
| L3Harris Technologies, Inc.<br>5.40%, 7/31/2033<br>| &nbsp;&nbsp;$50000 | &nbsp;&nbsp;$51573 |
| **AGRICULTURE — 2.4%** | **AGRICULTURE — 2.4%** | **AGRICULTURE — 2.4%** |
| Philip Morris International, Inc.<br>5.38%, 2/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150105 |
| **AUTO MANUFACTURERS — 0.9%** | **AUTO MANUFACTURERS — 0.9%** | **AUTO MANUFACTURERS — 0.9%** |
| General Motors Financial Co., Inc.<br>6.40%, 1/9/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52967 |
| **BANKS — 5.7%** | **BANKS — 5.7%** | **BANKS — 5.7%** |
| Bank of America Corp.<br>SOFR + 1.91%, 5.29%, 4/25/2034 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102495 |
| Goldman Sachs Group, Inc.<br>SOFR + 1.41%, 3.10%, 2/24/2033 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45483 |
| Huntington Bancshares, Inc.<br>SOFR + 2.05%, 5.02%, 5/17/2033 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50037 |
| JPMorgan Chase & Co.<br>SOFR + 1.85%, 5.35%, 6/1/2034 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103281 |
| KeyCorp<br>Series MTN, SOFR + 2.06%, 4.79%, 6/1/2033 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49454 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350750 |
| **BEVERAGES — 0.9%** | **BEVERAGES — 0.9%** | **BEVERAGES — 0.9%** |
| Anheuser-Busch InBev Worldwide, Inc.<br>6.63%, 8/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55861 |
| **BIOTECHNOLOGY — 1.7%** | **BIOTECHNOLOGY — 1.7%** | **BIOTECHNOLOGY — 1.7%** |
| Amgen, Inc.<br>5.25%, 3/2/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102606 |
| **CHEMICALS — 1.7%** | **CHEMICALS — 1.7%** | **CHEMICALS — 1.7%** |
| Dow Chemical Co.<br>6.30%, 3/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53543 |
| Eastman Chemical Co.<br>5.75%, 3/8/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52032 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105575 |
| **COMMERCIAL SERVICES — 1.4%** | **COMMERCIAL SERVICES — 1.4%** | **COMMERCIAL SERVICES — 1.4%** |
| Verisk Analytics, Inc.<br>5.75%, 4/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84438 |
| **COMPUTERS — 1.7%** | **COMPUTERS — 1.7%** | **COMPUTERS — 1.7%** |
| Leidos, Inc.<br>5.75%, 3/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104766 |
| **COSMETICS/PERSONAL CARE — 0.8%** | **COSMETICS/PERSONAL CARE — 0.8%** | **COSMETICS/PERSONAL CARE — 0.8%** |
| Kenvue, Inc.<br>4.90%, 3/22/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50795 |
| **DISTRIBUTION & WHOLESALE — 0.9%** | **DISTRIBUTION & WHOLESALE — 0.9%** | **DISTRIBUTION & WHOLESALE — 0.9%** |
| LKQ Corp.<br>6.25%, 6/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52850 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **DIVERSIFIED FINANCIAL SERVICES — 2.2%** | **DIVERSIFIED FINANCIAL SERVICES — 2.2%** | **DIVERSIFIED FINANCIAL SERVICES — 2.2%** |
| Apollo Global Management, Inc.<br>6.38%, 11/15/2033<br>| &nbsp;&nbsp;$100000 | &nbsp;&nbsp;$109724 |
| Capital One Financial Corp.<br>6.70%, 11/29/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27503 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137227 |
| **ELECTRIC — 16.0%** | **ELECTRIC — 16.0%** | **ELECTRIC — 16.0%** |
| AEP Texas, Inc.<br>5.40%, 6/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101989 |
| Constellation Energy Generation LLC<br>5.80%, 3/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100971 |
| DTE Electric Co.<br>5.20%, 4/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103518 |
| Duke Energy Florida LLC<br>5.88%, 11/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150053 |
| Exelon Corp.<br>5.30%, 3/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144343 |
| Georgia Power Co.<br>4.95%, 5/17/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81002 |
| National Grid PLC<br>5.81%, 6/12/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148235 |
| Pacific Gas & Electric Co.<br>6.40%, 6/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53085 |
| Southern Co.<br>5.20%, 6/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107202 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990398 |
| **ENVIRONMENTAL CONTROL — 0.8%** | **ENVIRONMENTAL CONTROL — 0.8%** | **ENVIRONMENTAL CONTROL — 0.8%** |
| Waste Connections, Inc.<br>4.20%, 1/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48587 |
| **FOOD — 2.7%** | **FOOD — 2.7%** | **FOOD — 2.7%** |
| Campbell's Co.<br>5.40%, 3/21/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76104 |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL<br>5.75%, 4/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77608 |
| Pilgrim's Pride Corp.<br>6.25%, 7/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15821 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169533 |
| **HEALTH CARE PRODUCTS — 0.4%** | **HEALTH CARE PRODUCTS — 0.4%** | **HEALTH CARE PRODUCTS — 0.4%** |
| Thermo Fisher Scientific, Inc.<br>5.09%, 8/10/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25731 |
| **HEALTH CARE SERVICES — 1.7%** | **HEALTH CARE SERVICES — 1.7%** | **HEALTH CARE SERVICES — 1.7%** |
| HCA, Inc.<br>5.50%, 6/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51429 |
| UnitedHealth Group, Inc.<br>5.35%, 2/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51695 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103124 |
| **HOUSEHOLD PRODUCTS & WARES — 0.8%** | **HOUSEHOLD PRODUCTS & WARES — 0.8%** | **HOUSEHOLD PRODUCTS & WARES — 0.8%** |
| Church & Dwight Co., Inc.<br>5.60%, 11/15/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52772 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2033 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **INSURANCE — 5.5%** | **INSURANCE — 5.5%** | **INSURANCE — 5.5%** |
| Allstate Corp.<br>5.35%, 6/1/2033<br>| &nbsp;&nbsp;$25000 | &nbsp;&nbsp;$25896 |
| American International Group, Inc.<br>5.13%, 3/27/2033 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86758 |
| Arthur J Gallagher & Co.<br>5.50%, 3/2/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51694 |
| Corebridge Financial, Inc.<br>6.05%, 9/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127138 |
| Progressive Corp.<br>4.95%, 6/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25454 |
| Prudential Financial, Inc.<br>Series MTN, 5.75%, 7/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26869 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343809 |
| **IRON/STEEL — 1.9%** | **IRON/STEEL — 1.9%** | **IRON/STEEL — 1.9%** |
| Vale Overseas Ltd.<br>6.13%, 6/12/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115896 |
| **MACHINERY-DIVERSIFIED — 1.6%** | **MACHINERY-DIVERSIFIED — 1.6%** | **MACHINERY-DIVERSIFIED — 1.6%** |
| Ingersoll Rand, Inc.<br>5.70%, 8/14/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100095 |
| **MEDIA — 2.8%** | **MEDIA — 2.8%** | **MEDIA — 2.8%** |
| Charter Communications Operating LLC/Charter Communications Operating Capital<br>4.40%, 4/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70544 |
| Comcast Corp.<br>4.80%, 5/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25030 |
| Fox Corp.<br>6.50%, 10/13/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70718 |
| Paramount Global<br>5.50%, 5/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9873 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176165 |
| **MINING — 0.8%** | **MINING — 0.8%** | **MINING — 0.8%** |
| Glencore Funding LLC<br>5.70%, 5/8/2033 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52205 |
| **MISCELLANEOUS MANUFACTURER — 0.8%** | **MISCELLANEOUS MANUFACTURER — 0.8%** | **MISCELLANEOUS MANUFACTURER — 0.8%** |
| Eaton Corp.<br>4.15%, 3/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48809 |
| **OIL & GAS — 3.5%** | **OIL & GAS — 3.5%** | **OIL & GAS — 3.5%** |
| BP Capital Markets America, Inc.<br>4.89%, 9/11/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110707 |
| Diamondback Energy, Inc.<br>6.25%, 3/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53434 |
| Ovintiv, Inc.<br>6.25%, 7/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52025 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216166 |
| **OIL & GAS SERVICES — 1.5%** | **OIL & GAS SERVICES — 1.5%** | **OIL & GAS SERVICES — 1.5%** |
| Schlumberger Holdings Corp.<br>4.85%, 5/15/2033 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94742 |
| **PHARMACEUTICALS — 7.0%** | **PHARMACEUTICALS — 7.0%** | **PHARMACEUTICALS — 7.0%** |
| AbbVie, Inc.<br>5.05%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76398 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Becton Dickinson & Co.<br>5.11%, 2/8/2034<br>| &nbsp;&nbsp;$85000 | &nbsp;&nbsp;$86022 |
| CVS Health Corp.<br>5.30%, 6/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91101 |
| Merck & Co., Inc.<br>6.50%, 12/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107451 |
| Pfizer Investment Enterprises Pte. Ltd.<br>4.75%, 5/19/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75175 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436147 |
| **PIPELINES — 8.4%** | **PIPELINES — 8.4%** | **PIPELINES — 8.4%** |
| Cheniere Energy Partners LP<br>5.95%, 6/30/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52367 |
| Enbridge, Inc.<br>5.70%, 3/8/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78187 |
| Energy Transfer LP: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 2/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72763 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.55%, 12/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97562 |
| Kinder Morgan, Inc.<br>5.20%, 6/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50582 |
| ONEOK, Inc.<br>6.05%, 9/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115679 |
| Targa Resources Corp.<br>6.13%, 3/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52904 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520044 |
| **REAL ESTATE INVESTMENT TRUSTS — 4.6%** | **REAL ESTATE INVESTMENT TRUSTS — 4.6%** | **REAL ESTATE INVESTMENT TRUSTS — 4.6%** |
| Alexandria Real Estate Equities, Inc.<br>1.88%, 2/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68935 |
| American Tower Corp.<br>5.55%, 7/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51922 |
| COPT Defense Properties LP<br>2.90%, 12/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83921 |
| Invitation Homes Operating Partnership LP<br>5.50%, 8/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82139 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286917 |
| **RETAIL — 3.1%** | **RETAIL — 3.1%** | **RETAIL — 3.1%** |
| AutoZone, Inc.<br>5.20%, 8/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50971 |
| Genuine Parts Co.<br>6.88%, 11/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89795 |
| Lowe's Cos., Inc.<br>5.15%, 7/1/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51245 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192011 |
| **SEMICONDUCTORS — 6.0%** | **SEMICONDUCTORS — 6.0%** | **SEMICONDUCTORS — 6.0%** |
| Broadcom, Inc.<br>3.42%, 4/15/2033 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91079 |
| Intel Corp.<br>5.20%, 2/10/2033 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50347 |
| Marvell Technology, Inc.<br>5.95%, 9/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47803 |
| Micron Technology, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.65%, 11/1/2032<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36557 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2033 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;5.88%, 9/15/2033<br>| &nbsp;&nbsp;$140000 | &nbsp;&nbsp;$147235 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373021 |
| **SOFTWARE — 0.9%** | **SOFTWARE — 0.9%** | **SOFTWARE — 0.9%** |
| Oracle Corp.<br>4.90%, 2/6/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54976 |
| **TELECOMMUNICATIONS — 4.1%** | **TELECOMMUNICATIONS — 4.1%** | **TELECOMMUNICATIONS — 4.1%** |
| AT&T, Inc.<br>5.40%, 2/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77191 |
| T-Mobile USA, Inc.<br>5.05%, 7/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101045 |
| Verizon Communications, Inc.<br>5.05%, 5/9/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76255 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254491 |
| **TRANSPORTATION — 0.8%** | **TRANSPORTATION — 0.8%** | **TRANSPORTATION — 0.8%** |
| United Parcel Service, Inc.<br>4.88%, 3/3/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51022 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $6,001,937)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6006174 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENTS — 2.5%** | **SHORT-TERM INVESTMENTS — 2.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (d) (e) | 109029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109029 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (f) (g) | &nbsp;&nbsp;48528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48528 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $157,557)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $157,557)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157557 |
| **TOTAL INVESTMENTS — 99.3%<br>(Cost $6,159,494)<br>** | **TOTAL INVESTMENTS — 99.3%<br>(Cost $6,159,494)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;6163731 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.7% <br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.7% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43436 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $6207167 |

---

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

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

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

(c) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 3.8% of net assets as of August 31, 2025, may be resold in transactions exempt from registration, normally to qualified institutional buyers.

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

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

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

(g) Investment of cash collateral for securities loaned.

MTN Medium Term Note <br> SOFR Secured Overnight Financing Rate

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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>| $— | $6006174 | $— | $6006174 |
| Short-Term Investments<br>| &nbsp;&nbsp;157557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;157557 |
| **TOTAL INVESTMENTS<br>**  | $157557 | $6006174 | $— | $6163731 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2033 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/24/24\*** | **Value at<br>9/24/24\*** | **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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>|  | $— | $676946 | $567917 | $— | $— | 109029 | $109029 | $2284 |
| State Street Navigator Securities Lending Portfolio II<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;982600 | &nbsp;&nbsp;&nbsp;&nbsp;934072 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;48528 | &nbsp;&nbsp;&nbsp;48528 | &nbsp;&nbsp;&nbsp;&nbsp;33 |
| Total<br>|  | $— | $1659546 | $1501989 | $— | $— |  | $157557 | $2317 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2034 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 98.0%** | **CORPORATE BONDS & NOTES — 98.0%** | **CORPORATE BONDS & NOTES — 98.0%** |
| **AEROSPACE & DEFENSE — 2.3%** | **AEROSPACE & DEFENSE — 2.3%** | **AEROSPACE & DEFENSE — 2.3%** |
| Boeing Co.<br>3.60%, 5/1/2034<br>| &nbsp;&nbsp;$55000 | &nbsp;&nbsp;$48989 |
| L3Harris Technologies, Inc.<br>5.35%, 6/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66591 |
| RTX Corp.<br>6.10%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54269 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169849 |
| **AGRICULTURE — 2.8%** | **AGRICULTURE — 2.8%** | **AGRICULTURE — 2.8%** |
| Imperial Brands Finance PLC<br>5.88%, 7/1/2034 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206516 |
| **APPAREL — 0.3%** | **APPAREL — 0.3%** | **APPAREL — 0.3%** |
| Tapestry, Inc.<br>5.50%, 3/11/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25238 |
| **AUTO MANUFACTURERS — 3.2%** | **AUTO MANUFACTURERS — 3.2%** | **AUTO MANUFACTURERS — 3.2%** |
| General Motors Financial Co., Inc.<br>5.95%, 4/4/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235768 |
| **BANKS — 4.9%** | **BANKS — 4.9%** | **BANKS — 4.9%** |
| Bank of America Corp.<br>SOFR + 1.65%, 5.47%, 1/23/2035 (b) (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41304 |
| Citigroup, Inc.<br>SOFR + 2.06%, 5.83%, 2/13/2035 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41030 |
| Goldman Sachs Group, Inc.<br>SOFR + 1.95%, 6.56%, 10/24/2034 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55498 |
| JPMorgan Chase & Co.<br>SOFR + 1.62%, 5.34%, 1/23/2035 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41073 |
| Morgan Stanley<br>SOFR + 1.73%, 5.47%, 1/18/2035 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51575 |
| U.S. Bancorp<br>SOFR + 1.86%, 5.68%, 1/23/2035 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78185 |
| Wells Fargo & Co.<br>SOFR + 1.78%, 5.50%, 1/23/2035 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51563 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360228 |
| **BEVERAGES — 1.7%** | **BEVERAGES — 1.7%** | **BEVERAGES — 1.7%** |
| Anheuser-Busch InBev Worldwide, Inc.<br>5.00%, 6/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122683 |
| **BIOTECHNOLOGY — 0.3%** | **BIOTECHNOLOGY — 0.3%** | **BIOTECHNOLOGY — 0.3%** |
| Royalty Pharma PLC<br>5.40%, 9/2/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20267 |
| **CHEMICALS — 1.6%** | **CHEMICALS — 1.6%** | **CHEMICALS — 1.6%** |
| Dow Chemical Co.<br>4.25%, 10/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72910 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Eastman Chemical Co.<br>5.63%, 2/20/2034<br>| &nbsp;&nbsp;$45000 | &nbsp;&nbsp;$45760 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118670 |
| **COMMERCIAL SERVICES — 1.4%** | **COMMERCIAL SERVICES — 1.4%** | **COMMERCIAL SERVICES — 1.4%** |
| Verisk Analytics, Inc.<br>5.25%, 6/5/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102088 |
| **CONSTRUCTION MATERIALS — 2.2%** | **CONSTRUCTION MATERIALS — 2.2%** | **CONSTRUCTION MATERIALS — 2.2%** |
| Carrier Global Corp.<br>5.90%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128010 |
| Owens Corning<br>5.70%, 6/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36615 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164625 |
| **DIVERSIFIED FINANCIAL SERVICES — 2.3%** | **DIVERSIFIED FINANCIAL SERVICES — 2.3%** | **DIVERSIFIED FINANCIAL SERVICES — 2.3%** |
| Capital One Financial Corp.<br>SOFR + 3.37%, 7.96%, 11/2/2034 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46766 |
| Charles Schwab Corp.<br>SOFR + 2.50%, 5.85%, 5/19/2034 (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53274 |
| Jefferies Financial Group, Inc.<br>6.20%, 4/14/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73811 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173851 |
| **ELECTRIC — 12.8%** | **ELECTRIC — 12.8%** | **ELECTRIC — 12.8%** |
| AEP Texas, Inc.<br>5.70%, 5/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72010 |
| CenterPoint Energy Houston Electric LLC<br>5.15%, 3/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55945 |
| Constellation Energy Generation LLC<br>6.13%, 1/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75924 |
| DTE Electric Co.<br>5.20%, 3/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138860 |
| Duke Energy Carolinas LLC<br>4.85%, 1/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95404 |
| Georgia Power Co.<br>5.25%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71803 |
| National Grid PLC<br>5.42%, 1/11/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71988 |
| Pacific Gas & Electric Co.<br>5.80%, 5/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97065 |
| PacifiCorp<br>5.45%, 2/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71141 |
| Southern California Edison Co.<br>5.20%, 6/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59600 |
| Southern Co.<br>5.70%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136259 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945999 |
| **ENVIRONMENTAL CONTROL — 1.1%** | **ENVIRONMENTAL CONTROL — 1.1%** | **ENVIRONMENTAL CONTROL — 1.1%** |
| Republic Services, Inc.<br>5.20%, 11/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30799 |
| Waste Connections, Inc.<br>5.00%, 3/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50725 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81524 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2034 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **FOOD — 4.2%** | **FOOD — 4.2%** | **FOOD — 4.2%** |
| Campbell's Co.<br>5.40%, 3/21/2034<br>| &nbsp;&nbsp;$70000 | &nbsp;&nbsp;$71030 |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL<br>6.75%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54849 |
| Mars, Inc.<br>5.20%, 3/1/2035 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100902 |
| Pilgrim's Pride Corp.<br>6.88%, 5/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32855 |
| Tyson Foods, Inc.<br>4.88%, 8/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49251 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308887 |
| **HEALTH CARE PRODUCTS — 1.3%** | **HEALTH CARE PRODUCTS — 1.3%** | **HEALTH CARE PRODUCTS — 1.3%** |
| Solventum Corp.<br>5.60%, 3/23/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41478 |
| Thermo Fisher Scientific, Inc.<br>5.20%, 1/31/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56722 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98200 |
| **HEALTH CARE SERVICES — 2.3%** | **HEALTH CARE SERVICES — 2.3%** | **HEALTH CARE SERVICES — 2.3%** |
| HCA, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.45%, 9/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60719 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 3/1/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30879 |
| UnitedHealth Group, Inc.<br>5.15%, 7/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81212 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172810 |
| **INSURANCE — 6.0%** | **INSURANCE — 6.0%** | **INSURANCE — 6.0%** |
| Arch Capital Group Ltd.<br>7.35%, 5/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69356 |
| Arthur J Gallagher & Co.<br>5.45%, 7/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102814 |
| Brown & Brown, Inc.<br>5.65%, 6/11/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71842 |
| Corebridge Financial, Inc.<br>5.75%, 1/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83593 |
| Lincoln National Corp.<br>5.85%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46692 |
| MetLife, Inc.<br>5.30%, 12/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72057 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446354 |
| **INTERNET — 4.0%** | **INTERNET — 4.0%** | **INTERNET — 4.0%** |
| Alphabet, Inc.<br>4.50%, 5/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99164 |
| Amazon.com, Inc.<br>4.80%, 12/5/2034 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97319 |
| Expedia Group, Inc.<br>5.40%, 2/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25388 |
| Meta Platforms, Inc.<br>4.75%, 8/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75338 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297209 |
| **IRON/STEEL — 0.8%** | **IRON/STEEL — 0.8%** | **IRON/STEEL — 0.8%** |
| ArcelorMittal SA<br>6.00%, 6/17/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57911 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **IT SERVICES — 0.7%** | **IT SERVICES — 0.7%** | **IT SERVICES — 0.7%** |
| Leidos, Inc.<br>5.50%, 3/15/2035<br>| &nbsp;&nbsp;$50000 | &nbsp;&nbsp;$51127 |
| **LODGING — 1.0%** | **LODGING — 1.0%** | **LODGING — 1.0%** |
| Las Vegas Sands Corp.<br>6.20%, 8/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72461 |
| **MACHINERY-DIVERSIFIED — 0.8%** | **MACHINERY-DIVERSIFIED — 0.8%** | **MACHINERY-DIVERSIFIED — 0.8%** |
| AGCO Corp.<br>5.80%, 3/21/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41157 |
| Ingersoll Rand, Inc.<br>5.45%, 6/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20675 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61832 |
| **MEDIA — 1.5%** | **MEDIA — 1.5%** | **MEDIA — 1.5%** |
| Charter Communications Operating LLC/Charter Communications Operating Capital<br>6.55%, 6/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111340 |
| **MINING — 1.0%** | **MINING — 1.0%** | **MINING — 1.0%** |
| Glencore Funding LLC<br>5.63%, 4/4/2034 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51323 |
| Rio Tinto Finance USA PLC<br>5.25%, 3/14/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25458 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76781 |
| **OFFICE & BUSINESS EQUIPMENT — 0.5%** | **OFFICE & BUSINESS EQUIPMENT — 0.5%** | **OFFICE & BUSINESS EQUIPMENT — 0.5%** |
| CDW LLC/CDW Finance Corp.<br>5.55%, 8/22/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40566 |
| **OIL & GAS — 4.9%** | **OIL & GAS — 4.9%** | **OIL & GAS — 4.9%** |
| BP Capital Markets America, Inc.<br>5.23%, 11/17/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102062 |
| Devon Energy Corp.<br>5.20%, 9/15/2034 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49007 |
| Diamondback Energy, Inc.<br>5.40%, 4/18/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50515 |
| Occidental Petroleum Corp.<br>5.55%, 10/1/2034 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54725 |
| Ovintiv, Inc.<br>6.50%, 8/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68440 |
| Suncor Energy, Inc.<br>5.95%, 12/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36410 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361159 |
| **PACKAGING & CONTAINERS — 0.8%** | **PACKAGING & CONTAINERS — 0.8%** | **PACKAGING & CONTAINERS — 0.8%** |
| Berry Global, Inc.<br>5.65%, 1/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57170 |
| **PHARMACEUTICALS — 5.3%** | **PHARMACEUTICALS — 5.3%** | **PHARMACEUTICALS — 5.3%** |
| AbbVie, Inc.<br>5.05%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144647 |
| Astrazeneca Finance LLC<br>5.00%, 2/26/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40878 |
| Becton Dickinson & Co.<br>5.11%, 2/8/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20241 |
| CVS Health Corp.<br>5.70%, 6/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25780 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2034 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Eli Lilly & Co.<br>4.60%, 8/14/2034<br>| &nbsp;&nbsp;$50000 | &nbsp;&nbsp;$49660 |
| Novartis Capital Corp.<br>4.20%, 9/18/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392528 |
| **PIPELINES — 6.4%** | **PIPELINES — 6.4%** | **PIPELINES — 6.4%** |
| Cheniere Energy Partners LP<br>5.75%, 8/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97547 |
| Enbridge, Inc.<br>5.63%, 4/5/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98008 |
| Energy Transfer LP<br>5.60%, 9/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111759 |
| Kinder Morgan, Inc.<br>5.30%, 12/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40238 |
| ONEOK, Inc.<br>5.05%, 11/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48768 |
| Targa Resources Corp.<br>6.50%, 3/30/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54051 |
| Williams Cos., Inc.<br>5.15%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25056 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475427 |
| **REAL ESTATE INVESTMENT TRUSTS — 5.1%** | **REAL ESTATE INVESTMENT TRUSTS — 5.1%** | **REAL ESTATE INVESTMENT TRUSTS — 5.1%** |
| Alexandria Real Estate Equities, Inc.<br>2.95%, 3/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38406 |
| American Homes 4 Rent LP<br>5.50%, 7/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56203 |
| Brixmor Operating Partnership LP<br>5.50%, 2/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61125 |
| Extra Space Storage LP<br>5.40%, 2/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95697 |
| Invitation Homes Operating Partnership LP<br>2.70%, 1/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57012 |
| Regency Centers LP<br>5.25%, 1/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66377 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374820 |
| **RETAIL — 1.4%** | **RETAIL — 1.4%** | **RETAIL — 1.4%** |
| AutoNation, Inc.<br>5.89%, 3/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35795 |
| AutoZone, Inc.<br>5.40%, 7/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72053 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107848 |
| **SEMICONDUCTORS — 4.7%** | **SEMICONDUCTORS — 4.7%** | **SEMICONDUCTORS — 4.7%** |
| Broadcom, Inc.<br>3.47%, 4/15/2034 (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143278 |
| Intel Corp.<br>5.15%, 2/21/2034 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24976 |
| KLA Corp.<br>5.65%, 11/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31787 |
| Marvell Technology, Inc.<br>5.95%, 9/15/2033<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53114 |
| Micron Technology, Inc.<br>5.80%, 1/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93037 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346192 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SOFTWARE — 3.0%** | **SOFTWARE — 3.0%** | **SOFTWARE — 3.0%** |
| Oracle Corp.<br>4.30%, 7/8/2034<br>| &nbsp;&nbsp;$80000 | &nbsp;&nbsp;$75744 |
| Paychex, Inc.<br>5.60%, 4/15/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30992 |
| Synopsys, Inc.<br>5.15%, 4/1/2035<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40325 |
| Take-Two Interactive Software, Inc.<br>5.60%, 6/12/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72672 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219733 |
| **TELECOMMUNICATIONS — 4.8%** | **TELECOMMUNICATIONS — 4.8%** | **TELECOMMUNICATIONS — 4.8%** |
| AT&T, Inc.<br>5.40%, 2/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102922 |
| Cisco Systems, Inc.<br>5.05%, 2/26/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82146 |
| T-Mobile USA, Inc.<br>5.15%, 4/15/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121256 |
| Verizon Communications, Inc.<br>4.40%, 11/1/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47685 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354009 |
| **TRANSPORTATION — 0.6%** | **TRANSPORTATION — 0.6%** | **TRANSPORTATION — 0.6%** |
| United Parcel Service, Inc.<br>5.15%, 5/22/2034<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46348 |
| **TOTAL CORPORATE BONDS & NOTES<br>(Cost $7,224,939)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7258018 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENTS — 4.1%** | **SHORT-TERM INVESTMENTS — 4.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (d) (e) | &nbsp;&nbsp;39240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39240 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (f) (g) | 261818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261818 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $301,058)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $301,058)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301058 |
| **TOTAL INVESTMENTS — 102.1%<br>(Cost $7,525,997)<br>** | **TOTAL INVESTMENTS — 102.1%<br>(Cost $7,525,997)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;7559076 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (2.1)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (2.1)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(156837) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $7402239 |

---

(a) Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 6.8% of net assets as of August 31, 2025, may be resold in transactions exempt from registration, normally to qualified institutional buyers.

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

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

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2034 CORPORATE BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

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

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

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

(g) Investment of cash collateral for securities loaned.

SOFR Secured Overnight Financing Rate

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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>| $— | $7258018 | $— | $7258018 |
| Short-Term Investments<br>| &nbsp;&nbsp;301058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;301058 |
| **TOTAL INVESTMENTS<br>**  | $301058 | $7258018 | $— | $7559076 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/24/24\*** | **Value at<br>9/24/24\*** | **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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>|  | $— | $1331060 | $1291820 | $— | $— | &nbsp;&nbsp;39240 | $39240 | $2799 |
| State Street Navigator Securities Lending Portfolio II<br>|  | &nbsp;&nbsp;— | &nbsp;&nbsp;1562950 | &nbsp;&nbsp;1301132 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 261818 | &nbsp;&nbsp;261818 | &nbsp;&nbsp;&nbsp;&nbsp;171 |
| Total<br>|  | $— | $2894010 | $2592952 | $— | $— |  | $301058 | $2970 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

[This Page Intentionally Left Blank]

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### STATEMENTS OF ASSETS AND LIABILITIES

#### August 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
|  | **SPDR SSGA My2026 Corporate Bond ETF** | **SPDR SSGA My2027 Corporate Bond ETF** | **SPDR SSGA My2028 Corporate Bond ETF** |
| **ASSETS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in unaffiliated issuers, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;$33304094 | $20947116 | $25868493 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in affiliated issuers, at value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823411 | &nbsp;&nbsp;&nbsp;&nbsp;1329179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Investments<br>| &nbsp;&nbsp;&nbsp;33918848 | &nbsp;&nbsp;&nbsp;21770527 | &nbsp;&nbsp;&nbsp;27197672 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends receivable — affiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest receivable — unaffiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338243 |
| &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL ASSETS <br>**  | &nbsp;&nbsp;&nbsp;34251453 | &nbsp;&nbsp;&nbsp;22014986 | &nbsp;&nbsp;&nbsp;27537514 |
| **LIABILITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payable upon return of securities loaned<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715235 | &nbsp;&nbsp;&nbsp;&nbsp;1175930 |
| &nbsp;&nbsp;&nbsp;&nbsp;Advisory fee payable<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345 |
| &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;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES <br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717884 | &nbsp;&nbsp;&nbsp;&nbsp;1179284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**NET ASSETS <br>**  | $33888564 | $21297102 | $26358230 |
| **NET ASSETS CONSIST OF:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Paid-in capital<br>| $33744699 | $21156587 | $25971112 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total distributable earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**NET ASSETS <br>**  | $33888564 | $21297102 | $26358230 |
| **NET ASSET VALUE PER SHARE** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net asset value per share<br>| $25.10 | $25.06 | $25.10 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding (unlimited amount authorized, $0.01 par value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;1050000 |
| **COST OF INVESTMENTS:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in unaffiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;$33231143 | $20850332 | $25540802 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in affiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823411 | &nbsp;&nbsp;&nbsp;&nbsp;1329179 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cost of investments<br>| $33845897 | $21673743 | $26869981 |
| &nbsp;&nbsp;&nbsp;&nbsp;\* Includes investments in securities on loan, at value<br>| $351538 | $700667 | $1230976 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SPDR SSGA My2029 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2030 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2031 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2032 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2033 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2034 Corporate Bond ETF** |
| &nbsp;&nbsp;&nbsp;$24612294 | &nbsp;&nbsp;&nbsp;&nbsp;$20754431 | &nbsp;&nbsp;$6151001 | &nbsp;&nbsp;$6065149 | &nbsp;&nbsp;$6006174 | &nbsp;&nbsp;$7258018 |
| &nbsp;&nbsp;&nbsp;&nbsp;2027157 | &nbsp;&nbsp;&nbsp;&nbsp;1360226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301058 |
| &nbsp;&nbsp;26639451 | &nbsp;&nbsp;&nbsp;&nbsp;22114657 | &nbsp;&nbsp;&nbsp;&nbsp;6419361 | &nbsp;&nbsp;&nbsp;&nbsp;6721890 | &nbsp;&nbsp;&nbsp;&nbsp;6163731 | &nbsp;&nbsp;&nbsp;&nbsp;7559076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 |
| &nbsp;&nbsp;26926788 | &nbsp;&nbsp;&nbsp;&nbsp;22351482 | &nbsp;&nbsp;&nbsp;&nbsp;6481178 | &nbsp;&nbsp;&nbsp;&nbsp;6794660 | &nbsp;&nbsp;&nbsp;&nbsp;6256500 | &nbsp;&nbsp;&nbsp;&nbsp;7665013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &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;18 | &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;17 |
| &nbsp;&nbsp;&nbsp;&nbsp;1867385 | &nbsp;&nbsp;&nbsp;&nbsp;1079464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262774 |
| $25059403 | &nbsp;&nbsp;$21272018 | &nbsp;&nbsp;$6273375 | &nbsp;&nbsp;$6219696 | &nbsp;&nbsp;$6207167 | &nbsp;&nbsp;$7402239 |
| $24581515 | &nbsp;&nbsp;$20788379 | &nbsp;&nbsp;$6202260 | &nbsp;&nbsp;$6206724 | &nbsp;&nbsp;$6189816 | &nbsp;&nbsp;$7401555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684 |
| $25059403 | &nbsp;&nbsp;$21272018 | &nbsp;&nbsp;$6273375 | &nbsp;&nbsp;$6219696 | &nbsp;&nbsp;$6207167 | &nbsp;&nbsp;$7402239 |
| $25.06 | &nbsp;&nbsp;$25.03 | &nbsp;&nbsp;$25.09 | &nbsp;&nbsp;$24.88 | &nbsp;&nbsp;$24.83 | &nbsp;&nbsp;$24.67 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 |
| &nbsp;&nbsp;&nbsp;$24189070 | &nbsp;&nbsp;&nbsp;&nbsp;$20316841 | &nbsp;&nbsp;$6086757 | &nbsp;&nbsp;$6064388 | &nbsp;&nbsp;$6001937 | &nbsp;&nbsp;$7224939 |
| &nbsp;&nbsp;&nbsp;&nbsp;2027157 | &nbsp;&nbsp;&nbsp;&nbsp;1360226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301058 |
| $26216227 | &nbsp;&nbsp;$21677067 | &nbsp;&nbsp;$6355117 | &nbsp;&nbsp;$6721129 | &nbsp;&nbsp;$6159494 | &nbsp;&nbsp;$7525997 |
| $1901913 | &nbsp;&nbsp;$1054312 | &nbsp;&nbsp;$202541 | &nbsp;&nbsp;$561366 | &nbsp;&nbsp;$130813 | &nbsp;&nbsp;$255707 |

---

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### STATEMENTS OF OPERATIONS

#### For the period September 24, 2024\* through August 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
|  | **SPDR SSGA My2026 Corporate Bond ETF** | **SPDR SSGA My2027 Corporate Bond ETF** | **SPDR SSGA My2028 Corporate Bond ETF** |
| **INVESTMENT INCOME** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income — unaffiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;$742655 | $503209 | $687911 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividend income — affiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4875 |
| &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated securities lending income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2844 |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENT INCOME (LOSS)<br>**  | &nbsp;&nbsp;&nbsp;750714 | &nbsp;&nbsp;&nbsp;507342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695630 |
| **EXPENSES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Advisory fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24390 | &nbsp;&nbsp;&nbsp;&nbsp;17204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22227 |
| &nbsp;&nbsp;&nbsp;&nbsp;Trustees' fees and expenses <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107 |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL EXPENSES<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;24490 | &nbsp;&nbsp;&nbsp;&nbsp;17296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22334 |
| &nbsp;&nbsp;&nbsp;&nbsp;**NET INVESTMENT INCOME (LOSS)<br>**  | $726224 | $490046 | $673296 |
| **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;&nbsp;&nbsp;7210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5876 |
| &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;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42167 |
| &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;&nbsp;&nbsp;&nbsp;72951 | &nbsp;&nbsp;&nbsp;&nbsp;96784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327691 |
| &nbsp;&nbsp;&nbsp;&nbsp;**NET REALIZED AND UNREALIZED GAIN (LOSS)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;80161 | &nbsp;&nbsp;&nbsp;101698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369858 |
| **NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS<br>**  | $806385 | $591744 | $1043154 |

---

<br> \* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SPDR SSGA My2029 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2030 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2031 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2032 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2033 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2034 Corporate Bond ETF** |
| &nbsp;&nbsp;&nbsp;$651720 | &nbsp;&nbsp;&nbsp;&nbsp;$576652 | &nbsp;&nbsp;$253579 | &nbsp;&nbsp;$255505 | &nbsp;&nbsp;$260105 | &nbsp;&nbsp;$306646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171 |
| &nbsp;&nbsp;&nbsp;&nbsp;656802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581549 | &nbsp;&nbsp;&nbsp;&nbsp;255803 | &nbsp;&nbsp;&nbsp;&nbsp;259309 | &nbsp;&nbsp;&nbsp;&nbsp;262434 | &nbsp;&nbsp;&nbsp;&nbsp;309616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9175 |
| $635981 | &nbsp;&nbsp;$563595 | &nbsp;&nbsp;$247700 | &nbsp;&nbsp;$251181 | &nbsp;&nbsp;$254394 | &nbsp;&nbsp;$300441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3529) | &nbsp;&nbsp;&nbsp;&nbsp;(14632) | &nbsp;&nbsp;&nbsp;&nbsp;(11667) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8412) | &nbsp;&nbsp;&nbsp;&nbsp;(56413) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18957 | &nbsp;&nbsp;&nbsp;&nbsp;(14632) | &nbsp;&nbsp;&nbsp;&nbsp;(11667) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8412) | &nbsp;&nbsp;&nbsp;&nbsp;(56413) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437590 | &nbsp;&nbsp;&nbsp;&nbsp;64244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4237 | &nbsp;&nbsp;&nbsp;&nbsp;33079 |
| &nbsp;&nbsp;&nbsp;&nbsp;425797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456547 | &nbsp;&nbsp;&nbsp;&nbsp;49612 | &nbsp;&nbsp;&nbsp;&nbsp;(10906) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4175) | &nbsp;&nbsp;&nbsp;&nbsp;(23334) |
| $1061778 | &nbsp;&nbsp;$1020142 | &nbsp;&nbsp;$297312 | &nbsp;&nbsp;$240275 | &nbsp;&nbsp;$250219 | &nbsp;&nbsp;$277107 |

---

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### STATEMENTS OF CHANGES IN NET ASSETS

------

---

| | | | |
|:---|:---|:---|:---|
|  | **SPDR SSGA My2026 Corporate Bond ETF** | **SPDR SSGA My2027 Corporate Bond ETF** | **SPDR SSGA My2028 Corporate Bond ETF** |
|  | **For the Period<br> 9/24/24\*-<br> 8/31/25** | **For the Period<br> 9/24/24\*-<br> 8/31/25** | **For the Period<br> 9/24/24\*-<br> 8/31/25** |
| **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;$726224 | $490046 | $673296 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42167 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation/depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327691 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591744 | &nbsp;&nbsp;&nbsp;&nbsp;1043154 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net equalization credits and charges<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33923 |
| &nbsp;&nbsp;&nbsp;&nbsp;Distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(662520) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(451229) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(610705) |
| **FROM BENEFICIAL INTEREST TRANSACTIONS:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33734679 | &nbsp;&nbsp;&nbsp;21146558 | &nbsp;&nbsp;&nbsp;28395644 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed<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;(2479963) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income equalization<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59393) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33832) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33923) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other capital<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10100 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) in net assets from beneficial interest transactions <br>**  | &nbsp;&nbsp;&nbsp;33685306 | &nbsp;&nbsp;&nbsp;21122755 | &nbsp;&nbsp;&nbsp;25891858 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets during the period<br>| &nbsp;&nbsp;&nbsp;33888564 | &nbsp;&nbsp;&nbsp;21297102 | &nbsp;&nbsp;&nbsp;26358230 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net assets at beginning of period<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;&nbsp;— |
| **NET ASSETS AT END OF PERIOD<br>**  | $33888564 | $21297102 | $26358230 |
| **SHARES OF BENEFICIAL INTEREST:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;1150000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares redeemed<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;(100000) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) from share transactions<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;1050000 |

---

<br> \* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SPDR SSGA My2029 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2030 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2031 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2032 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2033 Corporate Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2034 Corporate Bond ETF** |
| **For the Period<br> 9/24/24\*-<br> 8/31/25** | &nbsp;&nbsp;**For the Period<br> 9/24/24\*-<br> 8/31/25** | &nbsp;&nbsp;**For the Period<br> 9/24/24\*-<br> 8/31/25** | &nbsp;&nbsp;**For the Period<br> 9/24/24\*-<br> 8/31/25** | &nbsp;&nbsp;**For the Period<br> 9/24/24\*-<br> 8/31/25** | &nbsp;&nbsp;**For the Period<br> 9/24/24\*-<br> 8/31/25** |
| &nbsp;&nbsp;&nbsp;$635981 | &nbsp;&nbsp;&nbsp;&nbsp;$563595 | &nbsp;&nbsp;$247700 | &nbsp;&nbsp;$251181 | &nbsp;&nbsp;$254394 | &nbsp;&nbsp;$300441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14632) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11667) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8412) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56413) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33079 |
| &nbsp;&nbsp;&nbsp;&nbsp;1061778 | &nbsp;&nbsp;&nbsp;&nbsp;1020142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(340) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3452 |
| &nbsp;&nbsp;&nbsp;&nbsp;(583890) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(514017) | &nbsp;&nbsp;&nbsp;&nbsp;(226197) | &nbsp;&nbsp;&nbsp;&nbsp;(227303) | &nbsp;&nbsp;&nbsp;&nbsp;(232868) | &nbsp;&nbsp;&nbsp;&nbsp;(276423) |
| &nbsp;&nbsp;&nbsp;&nbsp;24571499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21984054 | &nbsp;&nbsp;&nbsp;&nbsp;6192258 | &nbsp;&nbsp;&nbsp;&nbsp;6196720 | &nbsp;&nbsp;&nbsp;&nbsp;6179814 | &nbsp;&nbsp;&nbsp;&nbsp;7391548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1228188) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40886) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31516) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1993) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2027) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3452) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10007 |
| &nbsp;&nbsp;24540629 | &nbsp;&nbsp;&nbsp;&nbsp;20734377 | &nbsp;&nbsp;&nbsp;&nbsp;6200267 | &nbsp;&nbsp;&nbsp;&nbsp;6207064 | &nbsp;&nbsp;&nbsp;&nbsp;6187789 | &nbsp;&nbsp;&nbsp;&nbsp;7398103 |
| &nbsp;&nbsp;25059403 | &nbsp;&nbsp;&nbsp;&nbsp;21272018 | &nbsp;&nbsp;&nbsp;&nbsp;6273375 | &nbsp;&nbsp;&nbsp;&nbsp;6219696 | &nbsp;&nbsp;&nbsp;&nbsp;6207167 | &nbsp;&nbsp;&nbsp;&nbsp;7402239 |
| $25059403 | &nbsp;&nbsp;$21272018 | &nbsp;&nbsp;$6273375 | &nbsp;&nbsp;$6219696 | &nbsp;&nbsp;$6207167 | &nbsp;&nbsp;$7402239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 |

---

<br> \* Commencement of operations.

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2026 Corporate Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;1.05 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.09) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.96 |
| Net equalization credits and charges (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.09 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.96) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$25.10 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.33% |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$33889 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.15%(d) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.47%(d) |
| Portfolio turnover rate (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42%(f) |

---

\* Commencement of operations.

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

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

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

(d) Annualized.

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

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2027 Corporate Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;0.99 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.11) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.88 |
| Net equalization credits and charges (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.07 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.91) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$25.06 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.97% |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$21297 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.15%(d) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.27%(d) |
| Portfolio turnover rate (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13%(f) |

---

\* Commencement of operations.

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

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

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

(d) Annualized.

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

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2028 Corporate Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;1.06 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.08) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.98 |
| Net equalization credits and charges (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.05 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.95) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$25.10 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.33% |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$26358 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.15%(d) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.54%(d) |
| Portfolio turnover rate (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14%(f) |

---

\* Commencement of operations.

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

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

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

(d) Annualized.

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

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2029 Corporate Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;1.06 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.13) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.93 |
| Net equalization credits and charges (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.07 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.96) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$25.06 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.21% |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$25059 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.15%(d) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%(d) |
| Portfolio turnover rate (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9%(f) |

---

\* Commencement of operations.

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

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

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

(d) Annualized.

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

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2030 Corporate Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;1.09 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.16) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.93 |
| Net equalization credits and charges (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.06 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.98) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$25.03 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.17% |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$21272 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.15%(d) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.73%(d) |
| Portfolio turnover rate (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19%(f) |

---

\* Commencement of operations.

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

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

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

(d) Annualized.

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

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2031 Corporate Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;1.06 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.05) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.01 |
| Net equalization credits and charges (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.01 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.04 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.97) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$25.09 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;4.40% |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$6273 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.15%(d) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.62%(d) |
| Portfolio turnover rate (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9%(f) |

---

\* Commencement of operations.

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

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

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

(d) Annualized.

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

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2032 Corporate Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;1.07 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.26) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.81 |
| Net equalization credits and charges (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.00)(c) |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.04 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.97) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$24.88 |
| **Total return (d)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;3.56% |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$6220 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.15%(e) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.67%(e) |
| Portfolio turnover rate (f)<br>| &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 period.

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

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

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

(e) Annualized.

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

(g) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2033 Corporate Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;1.09 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.32) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.77 |
| Net equalization credits and charges (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.01 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.04 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.99) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$24.83 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;3.45% |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$6207 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.15%(d) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.78%(d) |
| Portfolio turnover rate (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7%(f) |

---

\* Commencement of operations.

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

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

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

(d) Annualized.

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

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2034 Corporate Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;1.12 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.47) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.65 |
| Net equalization credits and charges (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.01 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.04 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;(1.03) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$24.67 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;2.97% |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$7402 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.15%(d) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.95%(d) |
| Portfolio turnover rate (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27%(f) |

---

\* Commencement of operations.

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

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

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

(d) Annualized.

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

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS

#### August 31, 2025

------

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

SSGA Active 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 August 31, 2025, the Trust consists of thirty-four (34) 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 with no par value. The financial statements herein relate to the following series (each, a "Fund" and collectively, the "Funds"):

---

| |
|:---|
| SPDR SSGA My2026 Corporate Bond ETF |
| SPDR SSGA My2027 Corporate Bond ETF |
| SPDR SSGA My2028 Corporate Bond ETF |
| SPDR SSGA My2029 Corporate Bond ETF |
| SPDR SSGA My2030 Corporate Bond ETF |

---

---

| |
|:---|
| SPDR SSGA My2031 Corporate Bond ETF |
| SPDR SSGA My2032 Corporate Bond ETF |
| SPDR SSGA My2033 Corporate Bond ETF |
| SPDR SSGA My2034 Corporate Bond ETF |

---

Each of the Funds was formed on September 23, 2024 and commenced operations on September 24, 2024. Each Fund is classified as a non-diversified investment company under the 1940 Act.

Under the Trust's organizational documents, its officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

2.&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:

• 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.

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

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

In the event prices or quotations are not readily available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with the valuation policy and procedures approved by the Board.

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 August 31, 2025, is disclosed in each Fund's respective Schedule of Investments.

#### Investment Transactions and Income Recognition
Investment transactions are accounted for on the trade date for financial reporting purposes. Realized gains and losses from the sale and disposition of investments are determined using the identified cost method. Interest income is recorded daily on an accrual basis. All premiums and discounts are amortized/accreted for financial reporting purposes.

#### 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.

#### Equalization
The Funds follow the accounting practice known as "Equalization" by which a portion of the proceeds from sales and costs of reacquiring Fund shares, equivalent on a per share basis to the amount of distributable net investment income on the date of the transaction, is credited or charged to undistributed net investment income. As a result, undistributed net investment income per share is unaffected by sales or reacquisition of Fund shares. Amounts related to Equalization can be found on the Statements of Changes in Net Assets.&nbsp;&nbsp;&nbsp;&nbsp;

#### Distributions
Distributions from net investment income 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 comply with the distribution requirements of the Internal Revenue Code of 1986 (the "Internal Revenue Code"), as amended. The amount and character of income and capital gains to be distributed are determined in accordance with applicable

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

tax regulations which may differ from net investment income and realized gains recognized for U.S. GAAP purposes.

4.&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 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 SSGA My2026 Corporate Bond ETF<br>| &nbsp;&nbsp;0.15% |
| SPDR SSGA My2027 Corporate Bond ETF<br>| &nbsp;&nbsp;0.15 |
| SPDR SSGA My2028 Corporate Bond ETF<br>| &nbsp;&nbsp;0.15 |
| SPDR SSGA My2029 Corporate Bond ETF<br>| &nbsp;&nbsp;0.15 |
| SPDR SSGA My2030 Corporate Bond ETF<br>| &nbsp;&nbsp;0.15 |
| SPDR SSGA My2031 Corporate Bond ETF<br>| &nbsp;&nbsp;0.15 |
| SPDR SSGA My2032 Corporate Bond ETF<br>| &nbsp;&nbsp;0.15 |
| SPDR SSGA My2033 Corporate Bond ETF<br>| &nbsp;&nbsp;0.15 |
| SPDR SSGA My2034 Corporate Bond ETF<br>| &nbsp;&nbsp;0.15 |

---

With respect to each Fund, the Management fee is reduced by the acquired fund fees and expenses attributable to the Fund's investments in other investment companies (except acquired fund fees and expenses associated with holdings of acquired funds for cash management purposes).

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

#### Administrator, Custodian, Sub-Administrator and Transfer Agent
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
The Funds may invest in affiliated entities, including securities issued by State Street Corporation, affiliated funds, or entities deemed to be affiliates as a result of the Funds owning more than five percent of the entity's voting securities or outstanding shares. Amounts relating to these transactions during the period ended August 31, 2025 are disclosed in the Schedules of Investments.

#### Due to Custodian
In certain circumstances, the Funds may have cash overdrafts with the Custodian due to expense payments, capital transactions, trading of securities, investment operations or derivative transactions. The Due to Custodian amount, if any, reflects cash overdrawn with State Street, as custodian, who is an affiliate of the Funds.

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

5.&nbsp;&nbsp;&nbsp;&nbsp;Trustees' Fees

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

6.&nbsp;&nbsp;&nbsp;&nbsp;Investment Transactions

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

---

| | | |
|:---|:---|:---|
|  | **Other Securities** | **Other Securities** |
|  | **Purchases** | **Sales** |
| SPDR SSGA My2026 Corporate Bond ETF<br>| $9596076 | $5804651 |
| SPDR SSGA My2027 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;6524590 | &nbsp;&nbsp;&nbsp;1658836 |
| SPDR SSGA My2028 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;7025829 | &nbsp;&nbsp;&nbsp;2168252 |
| SPDR SSGA My2029 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;6176896 | &nbsp;&nbsp;&nbsp;1350876 |
| SPDR SSGA My2030 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;7119845 | &nbsp;&nbsp;&nbsp;2474951 |
| SPDR SSGA My2031 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;5409591 | &nbsp;&nbsp;&nbsp;&nbsp;529761 |
| SPDR SSGA My2032 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;5347987 | &nbsp;&nbsp;&nbsp;&nbsp;480956 |
| SPDR SSGA My2033 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;5233207 | &nbsp;&nbsp;&nbsp;&nbsp;367146 |
| SPDR SSGA My2034 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;6654920 | &nbsp;&nbsp;&nbsp;1718866 |

---

For the period ended August 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 SSGA My2026 Corporate Bond ETF<br>| $28471140 | $— | $— |
| SPDR SSGA My2027 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;15964594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SPDR SSGA My2028 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;23079811 | &nbsp;&nbsp;&nbsp;2449575 | &nbsp;&nbsp;&nbsp;36291 |
| SPDR SSGA My2029 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;19330494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SPDR SSGA My2030 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;16782137 | &nbsp;&nbsp;&nbsp;1214415 | &nbsp;&nbsp;&nbsp;22486 |
| SPDR SSGA My2031 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;1180430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SPDR SSGA My2032 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;1181515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SPDR SSGA My2033 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;1162375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SPDR SSGA My2034 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;2357832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

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

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

8.&nbsp;&nbsp;&nbsp;&nbsp;Income Tax Information

The Funds intend to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code of 1986, as amended. Each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. Therefore, no provision for federal income tax is required.

The Funds 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.

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 net asset values or results of operations. Temporary book-tax differences will reverse in the future. These book-tax differences are primarily due to wash sale loss deferrals, in kind transactions, and amortization and accretion of premium and discount for financial statement purposes.

In addition, certain funds have claimed a portion of the payments made to redeeming shareholders as a distribution for income tax purposes.

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

---

| | | | |
|:---|:---|:---|:---|
|  | **Ordinary<br> Income** | **Long-Term<br> Capital Gains** | **Total** |
| SPDR SSGA My2026 Corporate Bond ETF<br>| $662520 | $— | $662520 |
| SPDR SSGA My2027 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;451229 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;451229 |
| SPDR SSGA My2028 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;610705 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;610705 |
| SPDR SSGA My2029 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;583890 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;583890 |
| SPDR SSGA My2030 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;514017 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;514017 |
| SPDR SSGA My2031 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;226197 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;226197 |
| SPDR SSGA My2032 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;227303 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;227303 |
| SPDR SSGA My2033 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;232868 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;232868 |
| SPDR SSGA My2034 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;276423 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;276423 |

---

At August 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 SSGA My2026 Corporate Bond ETF<br>| $74854 | $— | $— | $69011 | $143865 |
| SPDR SSGA My2027 Corporate Bond ETF<br>| &nbsp;&nbsp;48965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;91550 | &nbsp;&nbsp;140515 |
| SPDR SSGA My2028 Corporate Bond ETF<br>| &nbsp;&nbsp;65209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;321909 | &nbsp;&nbsp;387118 |
| SPDR SSGA My2029 Corporate Bond ETF<br>| &nbsp;&nbsp;59195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;418693 | &nbsp;&nbsp;477888 |
| SPDR SSGA My2030 Corporate Bond ETF<br>| &nbsp;&nbsp;50234 | &nbsp;&nbsp;&nbsp;&nbsp;(1849) | &nbsp;&nbsp;— | &nbsp;&nbsp;435254 | &nbsp;&nbsp;483639 |
| SPDR SSGA My2031 Corporate Bond ETF<br>| &nbsp;&nbsp;21862 | &nbsp;&nbsp;(13168) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;62421 | &nbsp;&nbsp;&nbsp;&nbsp;71115 |
| SPDR SSGA My2032 Corporate Bond ETF<br>| &nbsp;&nbsp;24202 | &nbsp;&nbsp;(10751) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(479) | &nbsp;&nbsp;&nbsp;&nbsp;12972 |
| SPDR SSGA My2033 Corporate Bond ETF<br>| &nbsp;&nbsp;22374 | &nbsp;&nbsp;&nbsp;&nbsp;(7252) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2229 | &nbsp;&nbsp;&nbsp;&nbsp;17351 |
| SPDR SSGA My2034 Corporate Bond ETF<br>| &nbsp;&nbsp;24781 | &nbsp;&nbsp;(51166) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;27069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684 |

---

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

As of August 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 SSGA My2030 Corporate Bond ETF<br>| $1849 | $— |
| SPDR SSGA My2031 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;13168 | &nbsp;&nbsp;&nbsp;— |
| SPDR SSGA My2032 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;10751 | &nbsp;&nbsp;&nbsp;— |
| SPDR SSGA My2033 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;7252 | &nbsp;&nbsp;&nbsp;— |
| SPDR SSGA My2034 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;51166 | &nbsp;&nbsp;&nbsp;— |

---

As of August 31, 2025, gross unrealized appreciation and gross unrealized depreciation of investments 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 SSGA My2026 Corporate Bond ETF<br>| $33849837 | $72235 | $3224 | $69011 |
| SPDR SSGA My2027 Corporate Bond ETF<br>| &nbsp;&nbsp;21678977 | &nbsp;&nbsp;&nbsp;&nbsp;95030 | &nbsp;&nbsp;&nbsp;&nbsp;3480 | &nbsp;&nbsp;&nbsp;&nbsp;91550 |
| SPDR SSGA My2028 Corporate Bond ETF<br>| &nbsp;&nbsp;26875763 | &nbsp;&nbsp;323381 | &nbsp;&nbsp;&nbsp;&nbsp;1472 | &nbsp;&nbsp;321909 |
| SPDR SSGA My2029 Corporate Bond ETF<br>| &nbsp;&nbsp;26220758 | &nbsp;&nbsp;423356 | &nbsp;&nbsp;&nbsp;&nbsp;4663 | &nbsp;&nbsp;418693 |
| SPDR SSGA My2030 Corporate Bond ETF<br>| &nbsp;&nbsp;21679403 | &nbsp;&nbsp;437609 | &nbsp;&nbsp;&nbsp;&nbsp;2355 | &nbsp;&nbsp;435254 |
| SPDR SSGA My2031 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;6356940 | &nbsp;&nbsp;&nbsp;&nbsp;71869 | &nbsp;&nbsp;&nbsp;&nbsp;9448 | &nbsp;&nbsp;&nbsp;&nbsp;62421 |
| SPDR SSGA My2032 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;6722369 | &nbsp;&nbsp;&nbsp;&nbsp;30309 | &nbsp;&nbsp;30788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(479) |
| SPDR SSGA My2033 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;6161502 | &nbsp;&nbsp;&nbsp;&nbsp;40457 | &nbsp;&nbsp;38228 | &nbsp;&nbsp;&nbsp;&nbsp;2229 |
| SPDR SSGA My2034 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;7532007 | &nbsp;&nbsp;&nbsp;&nbsp;59600 | &nbsp;&nbsp;32531 | &nbsp;&nbsp;&nbsp;&nbsp;27069 |

---

9.&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.

Each Fund will regain record ownership of loaned securities to exercise certain beneficial rights; however, the Fund 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, the Fund will bear the risk of loss of any cash collateral that it may invest. The 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, the 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 August 31, 2025, and the value of the invested cash collateral are disclosed in the Fund's Statement of Assets and Liabilities. Non-cash collateral is not disclosed in the Fund's Statement of Assets and Liabilities as it is held by the lending agent on behalf of the Fund, and the Fund does not have the ability to re-hypothecate those securities. Securities lending income, as disclosed in the Fund's Statement 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.

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

The following is a summary of each Fund's securities lending agreements and related cash and non-cash collateral received as of August 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 SSGA My2026 Corporate Bond ETF<br>| $351538 | $358575 | $— | $358575 |
| SPDR SSGA My2027 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;700667 | &nbsp;&nbsp;&nbsp;&nbsp;715235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;715235 |
| SPDR SSGA My2028 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;1230976 | &nbsp;&nbsp;&nbsp;1175930 | &nbsp;&nbsp;&nbsp;80535 | &nbsp;&nbsp;&nbsp;1256465 |
| SPDR SSGA My2029 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;1901913 | &nbsp;&nbsp;&nbsp;1864200 | &nbsp;&nbsp;&nbsp;77700 | &nbsp;&nbsp;&nbsp;1941900 |
| SPDR SSGA My2030 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;1054312 | &nbsp;&nbsp;&nbsp;1076755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1076755 |
| SPDR SSGA My2031 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;202541 | &nbsp;&nbsp;&nbsp;&nbsp;206990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;206990 |
| SPDR SSGA My2032 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;561366 | &nbsp;&nbsp;&nbsp;&nbsp;574158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;574158 |
| SPDR SSGA My2033 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;130813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48528 | &nbsp;&nbsp;&nbsp;85400 | &nbsp;&nbsp;&nbsp;&nbsp;133928 |
| SPDR SSGA My2034 Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;255707 | &nbsp;&nbsp;&nbsp;&nbsp;261818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;261818 |

---

\* The non-cash collateral includes U.S. Treasuries and U.S. Government Agency securities.

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Remaining Contractual Maturity of the Agreements<br> as of August 31, 2025** | **Remaining Contractual Maturity of the Agreements<br> as of August 31, 2025** | **Remaining Contractual Maturity of the Agreements<br> as of August 31, 2025** | **Remaining Contractual Maturity of the Agreements<br> as of August 31, 2025** | **Remaining Contractual Maturity of the Agreements<br> as of August 31, 2025** | **Remaining Contractual Maturity of the Agreements<br> as of August 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 SSGA My2026 Corporate Bond ETF<br>| Corporate Bonds & Notes | $358575 | $— | $— | $— | $358575 | $358575 |
| SPDR SSGA My2027 Corporate Bond ETF<br>| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;715235 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;715235 | &nbsp;&nbsp;&nbsp;&nbsp;715235 |
| SPDR SSGA My2028 Corporate Bond ETF<br>| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;1175930 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1175930 | &nbsp;&nbsp;&nbsp;1175930 |
| SPDR SSGA My2029 Corporate Bond ETF<br>| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;1864200 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1864200 | &nbsp;&nbsp;&nbsp;1864200 |
| SPDR SSGA My2030 Corporate Bond ETF<br>| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;1076755 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1076755 | &nbsp;&nbsp;&nbsp;1076755 |
| SPDR SSGA My2031 Corporate Bond ETF<br>| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;206990 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;206990 | &nbsp;&nbsp;&nbsp;&nbsp;206990 |
| SPDR SSGA My2032 Corporate Bond ETF<br>| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;574158 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;574158 | &nbsp;&nbsp;&nbsp;&nbsp;574158 |
| SPDR SSGA My2033 Corporate Bond ETF<br>| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48528 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48528 |
| SPDR SSGA My2034 Corporate Bond ETF<br>| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;261818 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;261818 | &nbsp;&nbsp;&nbsp;&nbsp;261818 |

---

10.&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 were more broadly diversified.

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

#### 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. A Fund is 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.

11.&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.

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

------

To the Shareholders of SPDR SSGA My2026 Corporate Bond ETF, SPDR SSGA My2027 Corporate Bond ETF, SPDR SSGA My2028 Corporate Bond ETF, SPDR SSGA My2029 Corporate Bond ETF, SPDR SSGA My2030 Corporate Bond ETF, SPDR SSGA My2031 Corporate Bond ETF, SPDR SSGA My2032 Corporate Bond ETF, SPDR SSGA My2033 Corporate Bond ETF, and SPDR SSGA My2034 Corporate Bond ETF and the Board of Trustees of SSGA Active Trust

#### Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of SPDR SSGA My2026 Corporate Bond ETF, SPDR SSGA My2027 Corporate Bond ETF, SPDR SSGA My2028 Corporate Bond ETF, SPDR SSGA My2029 Corporate Bond ETF, SPDR SSGA My2030 Corporate Bond ETF, SPDR SSGA My2031 Corporate Bond ETF, SPDR SSGA My2032 Corporate Bond ETF, SPDR SSGA My2033 Corporate Bond ETF, and SPDR SSGA My2034 Corporate Bond ETF (collectively, the "Funds") (nine of the funds constituting SSGA Active Trust (the "Trust")), including the schedules of investments, as of August 31, 2025, and the related statements of operations, changes in net assets, and the financial highlights for the period from September 24, 2024 (commencement of operations) through August 31, 2025 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 (nine of the funds constituting SSGA Active Trust) at August 31, 2025, and the results of their operations, the changes in their net assets and their financial highlights for the period from September 24, 2024 (commencement of operations) through August 31, 2025, in conformity with U.S. generally accepted accounting principles.

#### Basis for Opinion
These financial statements are the responsibility of the Trust's management. Our responsibility is to express an opinion on 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.

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 August 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.

![](g62600img204d1a2e2.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

October 21, 2025

------

[**Table of Contents**](#JOB_SSGA__619dc3d3-a9e9-4259-ba32-735eba03e2f1_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### OTHER INFORMATION

#### August 31, 2025 (Unaudited)

------

#### Tax Information
For federal income tax purposes, the following information is furnished with respect to the distributions of each Fund for its fiscal period ended August 31, 2025.

#### Interest Dividends
Each Fund reports the maximum amount allowable as Section 163(j) Interest Dividends.

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

------

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

## SSGA Active Trust

---

| |
|:---|
| SPDR SSGA My2026 Municipal Bond ETF |
| SPDR SSGA My2027 Municipal Bond ETF |
| SPDR SSGA My2028 Municipal Bond ETF |
| SPDR SSGA My2029 Municipal Bond ETF |
| SPDR SSGA My2030 Municipal Bond 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.**![](g62600imgad764b781.jpg)

------

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **[Schedules of Investments (N-CSR Item 6)](#xx_ab5eb5fb-5001-48fe-a5e9-78923dcd5ce6_1)** |  |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2026 Municipal Bond ETF (MYMF)](#xx_ab5eb5fb-5001-48fe-a5e9-78923dcd5ce6_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2027 Municipal Bond ETF (MYMG)](#xx_01df3cb0-92ca-4af6-85ed-732ee19a6ca6_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2028 Municipal Bond ETF (MYMH)](#xx_e441a19d-db01-4bd9-89eb-1751b12ecf31_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2029 Municipal Bond ETF (MYMI)](#xx_09bd503e-b43d-4ba1-8c32-a679100ebec3_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10 |
| &nbsp;&nbsp;&nbsp;[SPDR SSGA My2030 Municipal Bond ETF (MYMJ)](#xx_c7457241-211f-4e0d-95cf-dae13e4c7485_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13 |
| **[Financial Statements (N-CSR Item 7)](#xx_8c4fa8b1-9df0-45ed-b593-3e4de4689aaa_2)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;17 |
| **[Financial Highlights (N-CSR Item 7)](#xx_6731ef19-0c3e-42c1-898c-bc72426834a8_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;23 |
| **[Notes to Financial Statements (N-CSR Item 7)](#xx_0d1ad982-9b3b-4073-95e0-25c90fa94d35_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;28 |
| **[Report of Independent Registered Public Accounting Firm (N-CSR Item 7)](#xx_178f892b-851a-4740-ac87-40fa02cbc490_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;34 |
| **[Other Information (Unaudited) (N-CSR Item 7)](#xx_7f39a198-d0ed-411c-90ef-f876f516a47c_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;35 |

---

#### 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**

#### Statement Regarding Basis for Approval of Investment Advisory Contract (Unaudited) (N-CSR Item 11) - Not Applicable

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2026 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MUNICIPAL BONDS & NOTES — 81.7%** | **MUNICIPAL BONDS & NOTES — 81.7%** |  |
| **ARKANSAS — 1.8%** |  |  |
| Dover School District No. 17, General Obligation, AR<br>State Aid Withholding, 2.00%, 2/1/2026 | $135000 | &nbsp;&nbsp;$134294 |
| **CALIFORNIA — 3.6%** |  |  |
| Arcadia Unified School District, General Obligation, CA<br>4.00%, 8/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220330 |
| State of California, General Obligation, CA<br>5.00%, 10/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50124 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270454 |
| **COLORADO — 4.8%** |  |  |
| Douglas County School District No. Re-1 Douglas & Elbert Counties, General Obligation, CO<br>State Aid Withholding, 5.00%, 12/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113817 |
| Regional Transportation District Sales Tax Revenue, CO<br>Series A, 5.00%, 11/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200441 |
| Weld County School District No. RE-3J, General Obligation, CO<br>Build America Mutual Assurance Corp., State Aid Withholding, 4.00%, 12/15/2026 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40807 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355065 |
| **CONNECTICUT — 2.7%** |  |  |
| State of Connecticut Special Tax Revenue, CT<br>Series A, 5.00%, 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205170 |
| **DELAWARE — 5.2%** |  |  |
| Delaware Transportation Authority Revenue, DE: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 7/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158473 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231091 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389564 |
| **DISTRICT OF COLUMBIA — 1.4%** |  |  |
| District of Columbia Income Tax Revenue, DC<br>Series A, 5.00%, 3/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101315 |
| **FLORIDA — 3.6%** |  |  |
| County of Miami-Dade Water & Sewer System Revenue, FL<br>5.00%, 10/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60121 |
| Florida Municipal Power Agency Revenue, FL<br>Series A, 5.00%, 10/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107787 |
| Tampa Bay Water Revenue, FL<br>Series A, 5.00%, 10/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97286 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265194 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **HAWAII — 0.7%** |  |  |
| State of Hawaii, General Obligation, HI<br>Series FK, 5.00%, 5/1/2026 | $50000 | &nbsp;&nbsp;$50880 |
| **ILLINOIS — 4.0%** |  |  |
| City of Chicago Waterworks Revenue, IL<br>5.00%, 11/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25624 |
| Illinois Finance Authority Revenue, IL<br>Series A, 4.00%, 10/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224899 |
| Northern Illinois Municipal Power Agency Revenue, IL<br>Series A, 5.00%, 12/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25616 |
| State of Illinois, General Obligation, IL<br>Series B, 5.00%, 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20502 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296641 |
| **INDIANA — 0.5%** |  |  |
| Indiana Municipal Power Agency Revenue, IN<br>Series C, 5.00%, 1/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35701 |
| **KANSAS — 1.6%** |  |  |
| Johnson County Public Building Commission Revenue, KS<br>Series A, 5.00%, 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123040 |
| **LOUISIANA — 0.3%** |  |  |
| State of Louisiana, General Obligation, LA<br>Series B, 5.00%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20478 |
| **MARYLAND — 0.4%** |  |  |
| State of Maryland, General Obligation, MD: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10142 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20491 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30633 |
| **MICHIGAN — 4.6%** |  |  |
| Grand Rapids Public Schools, General Obligation, MI<br>Assured Guaranty, Inc., 5.00%, 5/1/2038 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226396 |
| Portage Public Schools, General Obligation, MI<br>5.00%, 11/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116531 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342927 |
| **MINNESOTA — 2.1%** |  |  |
| Metropolitan Council, General Obligation, MN<br>Series C, 5.00%, 3/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20285 |
| Western Minnesota Municipal Power Agency Revenue, MN<br>Series A, 5.00%, 1/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136030 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156315 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2026 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MISSOURI — 0.1%** |  |  |
| Metropolitan St. Louis Sewer District Revenue, MO<br>Series C, 5.00%, 5/1/2028 | $10000 | &nbsp;&nbsp;$10153 |
| **NEW MEXICO — 0.1%** |  |  |
| Albuquerque Municipal School District No. 12, General Obligation, NM<br>State Aid Withholding, 5.00%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10236 |
| **NEW YORK — 9.2%** |  |  |
| City of New York, General Obligation, NY<br>Series B1, 5.00%, 12/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177422 |
| Metropolitan Transportation Authority Revenue, NY<br>Series D-1, Build America Mutual Assurance Corp., 5.00%, 11/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200537 |
| New York City Transitional Finance Authority Future Tax Secured Revenue, NY<br>Series B1, 4.00%, 8/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220402 |
| Utility Debt Securitization Authority Revenue, NY<br>5.00%, 12/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90333 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688694 |
| **NORTH CAROLINA — 0.9%** |  |  |
| County of Wake, General Obligation, NC<br>Series A, 5.00%, 4/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66019 |
| **OHIO — 5.4%** |  |  |
| Berea City School District, General Obligation, OH<br>Build America Mutual Assurance Corp., 5.00%, 12/1/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111228 |
| Ohio Water Development Authority Revenue, OH<br>Series A, 5.00%, 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280526 |
| Ohio Water Development Authority Water Pollution Control Loan Fund Revenue, OH<br>Series B, 5.00%, 12/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10062 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401816 |
| **PENNSYLVANIA — 7.2%** |  |  |
| Commonwealth of Pennsylvania, General Obligation, PA<br>Series 1ST, 4.00%, 2/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225567 |
| Pittsburgh Water & Sewer Authority Revenue, PA<br>Series A, Assured Guaranty, Inc., 5.00%, 9/1/2025 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| State Public School Building Authority Revenue, PA<br>State Aid Withholding, 5.00%, 6/1/2036 | $225000 | &nbsp;&nbsp;$227014 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537581 |
| **RHODE ISLAND — 2.0%** |  |  |
| Rhode Island Health & Educational Building Corp. Revenue, RI<br>Series B, 5.00%, 9/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150122 |
| **SOUTH DAKOTA — 0.1%** |  |  |
| South Dakota Conservancy District Revenue, SD<br>Series B, 5.00%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10238 |
| **TENNESSEE — 1.3%** |  |  |
| Metropolitan Government of Nashville & Davidson County Electric Revenue, TN<br>Series B, 5.00%, 5/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10185 |
| State of Tennessee, General Obligation, TN<br>Series B, 5.00%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87102 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97287 |
| **TEXAS — 8.0%** |  |  |
| City of Austin Electric Utility Revenue, TX<br>5.00%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188799 |
| City of Houston, General Obligation, TX: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 3/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130976 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 3/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40527 |
| City of Waxahachie, General Obligation, TX<br>4.00%, 8/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225263 |
| Lower Colorado River Authority Revenue, TX<br>5.00%, 5/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15254 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600819 |
| **UTAH — 1.8%** |  |  |
| State of Utah, General Obligation, UT<br>5.00%, 7/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132891 |
| **WASHINGTON — 6.2%** |  |  |
| King County School District No. 400 Mercer Island, General Obligation, WA<br>School Bond Guaranty, 5.00%, 12/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103301 |
| North Thurston Public Schools, General Obligation, WA<br>School Bond Guaranty, 5.00%, 12/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87774 |
| Port of Tacoma Revenue, WA<br>Series A, 5.00%, 12/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56747 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2026 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| Snohomish County School District No. 201 Snohomish, General Obligation, WA<br>School Bond Guaranty, 5.00%, 12/1/2026 | $50000 | &nbsp;&nbsp;$50316 |
| State of Washington, General Obligation, WA: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-A, 5.00%, 8/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65995 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 8/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66444 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series C, 5.00%, 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30327 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460904 |
| **WISCONSIN — 2.1%** |  |  |
| State of Wisconsin, General Obligation, WI<br>5.00%, 11/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154705 |
| **TOTAL MUNICIPAL BONDS & NOTES<br>(Cost $6,114,344)<br>** | **TOTAL MUNICIPAL BONDS & NOTES<br>(Cost $6,114,344)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;6099136 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENT — 0.5%** | **SHORT-TERM INVESTMENT — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (b) (c)<br>(Cost $41,946) | 41946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41946 |
| **TOTAL INVESTMENTS — 82.2%<br>(Cost $6,156,290)<br>** | **TOTAL INVESTMENTS — 82.2%<br>(Cost $6,156,290)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;6141082 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 17.8% <br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 17.8% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;1326430 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $7467512 |

---

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

(a) Bond is insured by the following:

---

| | |
|:---|:---|
|  | **% of<br> Net Assets** |
| Build America Mutual Assurance Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.7% |
| Assured Guaranty, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.2% |

---

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

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

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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:** |  |  |  |  |
| Municipal Bonds & Notes<br>| $— | $6099136 | $— | $6099136 |
| Short-Term Investment<br>| &nbsp;&nbsp;41946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41946 |
| **TOTAL INVESTMENTS<br>**  | $41946 | $6099136 | $— | $6141082 |

---

#### 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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>– $— | $5960694 | $5918748 | $— | $— | 41946 | $41946 | $2144 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2027 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MUNICIPAL BONDS & NOTES — 98.4%** | **MUNICIPAL BONDS & NOTES — 98.4%** |  |
| **CALIFORNIA — 2.1%** |  |  |
| California Health Facilities Financing Authority Revenue, CA<br>Series B, 5.00%, 10/1/2039 (a) | $125000 | &nbsp;&nbsp;$130042 |
| **COLORADO — 0.3%** |  |  |
| Denver City & County School District No. 1, General Obligation, CO<br>Series A, State Aid Withholding, 5.50%, 12/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16023 |
| **CONNECTICUT — 3.6%** |  |  |
| State of Connecticut Special Tax Revenue, CT<br>Series A, 5.00%, 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220558 |
| **DELAWARE — 0.4%** |  |  |
| State of Delaware, General Obligation, DE<br>Series A, 5.00%, 5/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26134 |
| **DISTRICT OF COLUMBIA — 4.8%** |  |  |
| District of Columbia Water & Sewer Authority Revenue, DC<br>Series A, 5.00%, 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175119 |
| Washington Metropolitan Area Transit Authority Revenue, DC<br>Series B, 5.00%, 7/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120968 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296087 |
| **FLORIDA — 1.2%** |  |  |
| Central Florida Expressway Authority Revenue, FL<br>Series B, 5.00%, 7/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71350 |
| **GEORGIA — 4.7%** |  |  |
| City of Atlanta Water & Wastewater Revenue, GA<br>Series A, 5.00%, 11/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63436 |
| Houston County School District, General Obligation, GA<br>State Aid Withholding, 5.00%, 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123184 |
| State of Georgia, General Obligation, GA<br>Series A-2, 5.00%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103576 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290196 |
| **HAWAII — 2.3%** |  |  |
| City & County Honolulu Wastewater System Revenue, HI<br>Series B, 5.00%, 7/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25506 |
| State of Hawaii, General Obligation, HI<br>Series EY, 5.00%, 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140706 |
| **ILLINOIS — 10.3%** |  |  |
| City of Chicago Wastewater Transmission Revenue, IL<br>Series B, 5.00%, 1/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86005 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| State of Illinois, General Obligation, IL<br>Series A, 5.00%, 3/1/2027 | $135000 | &nbsp;&nbsp;$139631 |
| Village of Elk Grove Village, General Obligation, IL<br>5.00%, 1/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203901 |
| Village of Rosemont, General Obligation, IL<br>Series A, Assured Guaranty, Inc., 5.00%, 12/1/2046 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205426 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634963 |
| **IOWA — 5.5%** |  |  |
| Iowa Finance Authority Revenue, IA<br>5.00%, 8/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131053 |
| State of Iowa Board of Regents Revenue, IA<br>Series 2025A, 5.00%, 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210038 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341091 |
| **KANSAS — 0.5%** |  |  |
| Johnson County Public Building Commission Revenue, KS<br>Series A, 4.00%, 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30480 |
| **MAINE — 3.1%** |  |  |
| State of Maine, General Obligation, ME<br>Series B, 5.00%, 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188512 |
| **MARYLAND — 0.5%** |  |  |
| Washington Suburban Sanitary Commission Revenue, MD<br>5.00%, 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31412 |
| **MICHIGAN — 1.1%** |  |  |
| L'Anse Creuse Public Schools, General Obligation, MI<br>Series I, Qualified School Bond Loan Fund, 5.00%, 5/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20852 |
| Michigan Finance Authority Revenue, MI<br>Series B, 5.00%, 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67052 |
| **MISSOURI — 3.7%** |  |  |
| Valley Park Fire Protection District, General Obligation, MO<br>4.00%, 3/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225249 |
| **NEBRASKA — 0.4%** |  |  |
| Omaha Public Power District Revenue, NE<br>Series A, 5.00%, 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25271 |
| **NEW MEXICO — 3.8%** |  |  |
| New Mexico Finance Authority Revenue, NM<br>Series B, 5.00%, 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78547 |
| New Mexico Hospital Equipment Loan Council Revenue, NM<br>Series A, 4.00%, 8/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156251 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234798 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2027 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **NEW YORK — 8.3%** |  |  |
| Build NYC Resource Corp. Revenue, NY<br>5.00%, 8/1/2030 | $200000 | &nbsp;&nbsp;$203395 |
| Metropolitan Transportation Authority Dedicated Tax Fund Revenue, NY<br>Series A, 5.00%, 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102163 |
| New York City Municipal Water Finance Authority Revenue, NY<br>Series DD, 5.00%, 6/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165667 |
| New York State Dormitory Authority Revenue, NY: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 2/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20346 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 2/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20624 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512195 |
| **NORTH CAROLINA — 3.7%** |  |  |
| North Carolina Turnpike Authority Revenue, NC<br>5.00%, 1/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230106 |
| **OHIO — 3.6%** |  |  |
| Ohio Higher Educational Facility Commission Revenue, OH<br>5.00%, 7/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179226 |
| State of Ohio, General Obligation, OH<br>Series C, 5.00%, 8/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42049 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221275 |
| **OKLAHOMA — 0.8%** |  |  |
| Oklahoma Turnpike Authority Revenue, OK<br>Series A, 5.00%, 1/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51782 |
| **PENNSYLVANIA — 5.5%** |  |  |
| Pennsylvania State University Revenue, PA<br>Series A, 5.00%, 9/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20395 |
| Pennsylvania Turnpike Commission Revenue, PA: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A-1, 5.00%, 12/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176212 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B-1, 5.00%, 6/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25536 |
| Philadelphia Housing Authority Revenue, PA<br>5.00%, 5/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119695 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341838 |
| **TENNESSEE — 5.1%** |  |  |
| Metropolitan Government of Nashville & Davidson County, General Obligation, TN<br>5.00%, 1/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229686 |
| State of Tennessee, General Obligation, TN<br>Series B, 5.00%, 8/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81974 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311660 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **TEXAS — 10.0%** |  |  |
| Austin Independent School District, General Obligation, TX<br>Permanent School Fund, 5.00%, 8/1/2027 | $30000 | &nbsp;&nbsp;$30710 |
| City of Dallas, General Obligation, TX<br>5.00%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56837 |
| City of Houston, General Obligation, TX<br>Series A, 5.00%, 3/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40484 |
| County of Williamson, General Obligation, TX<br>5.00%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36359 |
| Houston Independent School District, General Obligation, TX<br>Series A, Permanent School Fund, 5.00%, 2/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111260 |
| Trinity River Authority Central Regional Wastewater System Revenue, TX<br>5.00%, 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281501 |
| Via Metropolitan Transit Revenue, TX<br>5.00%, 7/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62148 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619299 |
| **VIRGINIA — 4.7%** |  |  |
| Virginia Commonwealth Transportation Board Revenue, VA<br>5.00%, 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51305 |
| Virginia Public Building Authority Revenue, VA<br>Series A, 5.00%, 8/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236456 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287761 |
| **WASHINGTON — 3.7%** |  |  |
| County of King Sewer Revenue, WA<br>Series B, 5.00%, 7/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52388 |
| County of King, General Obligation, WA<br>4.00%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15319 |
| Port of Tacoma, General Obligation, WA<br>Series A, 5.00%, 12/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30765 |
| State of Washington, General Obligation, WA: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-A, 5.00%, 8/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112533 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series D, 5.00%, 2/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20230 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231235 |
| **WISCONSIN — 4.7%** |  |  |
| Green Bay Area Public School District, General Obligation, WI<br>5.00%, 4/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260274 |
| State of Wisconsin, General Obligation, WI: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10390 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2027 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 3, 5.00%, 11/1/2030 | $20000 | &nbsp;&nbsp;$20781 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291445 |
| **TOTAL MUNICIPAL BONDS & NOTES<br>(Cost $6,073,708)<br>** | **TOTAL MUNICIPAL BONDS & NOTES<br>(Cost $6,073,708)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;6068520 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENT — 0.4%** | **SHORT-TERM INVESTMENT — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (c) (d)<br>(Cost $27,202) | 27202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27202 |
| **TOTAL INVESTMENTS — 98.8%<br>(Cost $6,100,910)<br>** | **TOTAL INVESTMENTS — 98.8%<br>(Cost $6,100,910)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;6095722 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 1.2% <br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 1.2% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72962 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $6168684 |

---

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

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

(b) Bond is insured by the following:

---

| | |
|:---|:---|
|  | **% of<br> Net Assets** |
| Assured Guaranty, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.3% |

---

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

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

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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:** |  |  |  |  |
| Municipal Bonds & Notes<br>| $— | $6068520 | $— | $6068520 |
| Short-Term Investment<br>| &nbsp;&nbsp;27202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27202 |
| **TOTAL INVESTMENTS<br>**  | $27202 | $6068520 | $— | $6095722 |

---

#### 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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>– $— | $7225179 | $7197977 | $— | $— | 27202 | $27202 | $2448 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2028 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MUNICIPAL BONDS & NOTES — 97.6%** | **MUNICIPAL BONDS & NOTES — 97.6%** |  |
| **ARIZONA — 1.6%** |  |  |
| Salt River Project Agricultural Improvement & Power District Revenue, AZ<br>Series A, 5.00%, 1/1/2037 | $75000 | &nbsp;&nbsp;$77244 |
| **CALIFORNIA — 5.4%** |  |  |
| Metropolitan Water District of Southern California Revenue, CA<br>5.00%, 1/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63001 |
| San Mateo County Community College District, General Obligation, CA<br>Series B, 5.00%, 9/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203258 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266259 |
| **COLORADO — 1.3%** |  |  |
| University of Colorado Revenue, CO<br>Series A-2, 4.00%, 6/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61745 |
| **CONNECTICUT — 4.9%** |  |  |
| State of Connecticut, General Obligation, CT<br>Series A, 5.00%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239914 |
| **FLORIDA — 7.6%** |  |  |
| City of Tallahassee Utility System Revenue, FL<br>5.00%, 10/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5010 |
| Miami-Dade County Educational Facilities Authority Revenue, FL: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 4/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106006 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 4/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197632 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 4/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35014 |
| School District of Broward County, General Obligation, FL<br>5.00%, 7/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26094 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369756 |
| **GEORGIA — 6.9%** |  |  |
| Atlanta Urban Redevelopment Agency Revenue, GA<br>Series B, 5.00%, 7/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107199 |
| Municipal Electric Authority of Georgia Revenue, GA<br>Series A, 5.00%, 1/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229649 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336848 |
| **HAWAII — 1.4%** |  |  |
| City & County of Honolulu, General Obligation, HI<br>Series A, 5.00%, 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69498 |
| **ILLINOIS — 3.7%** |  |  |
| Illinois State Toll Highway Authority Revenue, IL<br>Series A, 5.00%, 1/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77573 |
| State of Illinois, General Obligation, IL: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79288 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 10/1/2027 | $25000 | &nbsp;&nbsp;$26185 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183046 |
| **INDIANA — 2.7%** |  |  |
| Indiana Finance Authority Revenue, IN<br>Series A, 5.00%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74499 |
| Indianapolis Local Public Improvement Bond Bank Revenue, IN: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series C, 4.00%, 1/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30128 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series C, 5.00%, 1/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25894 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130521 |
| **MASSACHUSETTS — 0.7%** |  |  |
| Commonwealth of Massachusetts, General Obligation, MA<br>Series A, 5.00%, 1/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35958 |
| **MICHIGAN — 7.5%** |  |  |
| City of Grosse Pointe, General Obligation, MI<br>5.00%, 10/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186856 |
| Gibraltar School District, General Obligation, MI<br>Qualified School Bond Loan Fund, 5.00%, 5/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180824 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367680 |
| **NEVADA — 1.0%** |  |  |
| County of Clark, General Obligation, NV<br>Series B, 5.00%, 12/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47596 |
| **NEW HAMPSHIRE — 3.4%** |  |  |
| New Hampshire Health & Education Facilities Authority Act Revenue, NH<br>Series A, 5.00%, 7/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167075 |
| **NEW YORK — 1.8%** |  |  |
| New York City Transitional Finance Authority Building Aid Revenue, NY<br>Series S-3, State Aid Withholding, 5.00%, 7/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78708 |
| New York City Transitional Finance Authority Future Tax Secured Revenue, NY<br>Series A1, 5.00%, 8/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10412 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89120 |
| **OHIO — 9.2%** |  |  |
| City of Columbus, General Obligation, OH<br>Series A, 5.00%, 4/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213808 |
| Ohio Higher Educational Facility Commission Revenue, OH<br>Series A, 4.00%, 12/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224993 |
| State of Ohio Revenue, OH<br>Series 2016-1, 5.00%, 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10192 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448993 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2028 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **PENNSYLVANIA — 8.2%** |  |  |
| Commonwealth of Pennsylvania, General Obligation, PA<br>Series 1ST, 4.00%, 3/1/2037 | $130000 | &nbsp;&nbsp;$129655 |
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue, PA<br>Series B, 5.25%, 12/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175490 |
| Pittsburgh School District, General Obligation, PA<br>Series A, State Aid Withholding, 4.00%, 9/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96948 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402093 |
| **SOUTH DAKOTA — 0.4%** |  |  |
| South Dakota State Building Authority Revenue, SD<br>Series A, 5.00%, 6/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20532 |
| **TENNESSEE — 1.3%** |  |  |
| Metropolitan Government of Nashville & Davidson County, General Obligation, TN<br>5.00%, 7/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63551 |
| **TEXAS — 19.6%** |  |  |
| Conroe Municipal Management District No. 1, General Obligation, TX<br>Build America Mutual Assurance Corp., 4.00%, 9/1/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130100 |
| Harris County Cultural Education Facilities Finance Corp. Revenue, TX<br>5.00%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172995 |
| Hurst-Euless-Bedford Independent School District, General Obligation, TX<br>Permanent School Fund, 4.00%, 8/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222172 |
| Lower Colorado River Authority Revenue, TX: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 5/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10332 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 5/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196810 |
| Texas Water Development Board Revenue, TX<br>Series B, 5.00%, 4/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226104 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;958513 |
| **VIRGINIA — 5.4%** |  |  |
| Virginia College Building Authority Revenue, VA<br>Series C, 5.00%, 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56955 |
| Virginia Public Building Authority Revenue, VA<br>Series A, 5.00%, 8/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204822 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261777 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **WASHINGTON — 2.7%** |  |  |
| City of Marysville, General Obligation, WA<br>Series B, 5.00%, 12/1/2038 | $25000 | &nbsp;&nbsp;$25622 |
| King County School District No. 414 Lake Washington, General Obligation, WA<br>School Bond Guaranty, 5.00%, 12/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51794 |
| State of Washington, General Obligation, WA<br>Series C, 5.00%, 2/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52278 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129694 |
| **WEST VIRGINIA — 0.7%** |  |  |
| State of West Virginia, General Obligation, WV<br>Series B, 5.00%, 12/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36694 |
| **WISCONSIN — 0.2%** |  |  |
| State of Wisconsin Environmental Improvement Fund Revenue, WI<br>Series A, 5.00%, 6/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10529 |
| **TOTAL MUNICIPAL BONDS & NOTES<br>(Cost $4,805,623)<br>** | **TOTAL MUNICIPAL BONDS & NOTES<br>(Cost $4,805,623)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;4774636 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENT — 1.1%** | **SHORT-TERM INVESTMENT — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (b) (c)<br>(Cost $52,297) | 52297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52297 |
| **TOTAL INVESTMENTS — 98.7%<br>(Cost $4,857,920)<br>** | **TOTAL INVESTMENTS — 98.7%<br>(Cost $4,857,920)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;4826933 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 1.3% <br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 1.3% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63739 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $4890672 |

---

(a) Bond is insured by the following:

---

| | |
|:---|:---|
|  | **% of<br> Net Assets** |
| Build America Mutual Assurance Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.7% |

---

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

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

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2028 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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:** |  |  |  |  |
| Municipal Bonds & Notes<br>| $— | $4774636 | $— | $4774636 |
| Short-Term Investment<br>| &nbsp;&nbsp;52297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52297 |
| **TOTAL INVESTMENTS<br>**  | $52297 | $4774636 | $— | $4826933 |

---

#### 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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>– $— | $5076325 | $5024028 | $— | $— | 52297 | $52297 | $2192 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2029 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MUNICIPAL BONDS & NOTES — 98.2%** | **MUNICIPAL BONDS & NOTES — 98.2%** |  |
| **ALABAMA — 3.5%** |  |  |
| Alabama Public School & College Authority Revenue, AL<br>Series A, 5.00%, 11/1/2029 | $300000 | &nbsp;&nbsp;$330581 |
| Auburn University Revenue, AL<br>Series A, 5.00%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15263 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345844 |
| **ARIZONA — 4.2%** |  |  |
| City of Mesa Utility System Revenue, AZ<br>Series A, 5.00%, 7/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26711 |
| City of Phoenix Civic Improvement Corp. Revenue, AZ<br>Series A, 5.00%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219680 |
| Maricopa County Industrial Development Authority Revenue, AZ<br>Series A, 4.00%, 1/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163576 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409967 |
| **CALIFORNIA — 0.3%** |  |  |
| California Infrastructure & Economic Development Bank Revenue, CA<br>5.00%, 8/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25954 |
| **DELAWARE — 2.2%** |  |  |
| Delaware Municipal Electric Corp. Revenue, DE<br>Series A, Build America Mutual Assurance Corp., 5.00%, 10/1/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169722 |
| Delaware Transportation Authority Revenue, DE<br>5.00%, 9/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43893 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213615 |
| **DISTRICT OF COLUMBIA — 0.2%** |  |  |
| Washington Metropolitan Area Transit Authority Revenue, DC<br>Series A-1, 5.00%, 7/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20872 |
| **FLORIDA — 5.9%** |  |  |
| Central Florida Expressway Authority Revenue, FL<br>Series B, 5.00%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224977 |
| County of Miami-Dade Aviation Revenue, FL<br>Series 2016A, 5.00%, 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35853 |
| County of Miami-Dade Revenue, FL<br>Series B, 5.00%, 4/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75971 |
| County of Miami-Dade Transit System Revenue, FL<br>5.00%, 7/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48034 |
| Volusia County Educational Facility Authority Revenue, FL<br>Series A, 4.00%, 10/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197254 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582089 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **GEORGIA — 1.4%** |  |  |
| City of Atlanta Water & Wastewater Revenue, GA<br>Build America Mutual Assurance Corp., 5.00%, 11/1/2029 (a) | $125000 | &nbsp;&nbsp;$137742 |
| **IDAHO — 0.5%** |  |  |
| Idaho Housing & Finance Association Revenue, ID<br>Series A, 5.00%, 7/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47230 |
| **ILLINOIS — 6.2%** |  |  |
| Chicago O'Hare International Airport Revenue, IL: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 1/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199850 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series D, 5.25%, 1/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25866 |
| Illinois Finance Authority Revenue, IL: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 7/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72317 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series C, 5.00%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144646 |
| Kendall & Kane Counties Community Unit School District No. 115, General Obligation, IL<br>Series B, 5.00%, 1/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87988 |
| Regional Transportation Authority Revenue, IL<br>Series A, 5.00%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76172 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606839 |
| **IOWA — 3.3%** |  |  |
| State of Iowa Board of Regents Revenue, IA<br>Series 2025A, 5.00%, 9/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328054 |
| **KENTUCKY — 5.0%** |  |  |
| Kentucky Economic Development Finance Authority Revenue, KY<br>Series A-2, 5.00%, 8/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233502 |
| Kentucky State Property & Building Commission Revenue, KY: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 11/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215954 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 11/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43978 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493434 |
| **MARYLAND — 0.2%** |  |  |
| County of Howard, General Obligation, MD<br>Series D, 5.00%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21293 |
| **MASSACHUSETTS — 2.1%** |  |  |
| Commonwealth of Massachusetts, General Obligation, MA: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 1/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15738 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 7/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188413 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204151 |
| **MICHIGAN — 0.6%** |  |  |
| L'Anse Creuse Public Schools, General Obligation, MI<br>Series I, Qualified School Bond Loan Fund, 5.00%, 5/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54438 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2029 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **NEVADA — 5.4%** |  |  |
| Clark County School District, General Obligation, NV<br>Series B, Build America Mutual Assurance Corp., 5.00%, 6/15/2029 (a) | $290000 | &nbsp;&nbsp;$317281 |
| County of Clark, General Obligation, NV<br>Series B, 5.00%, 12/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47383 |
| Las Vegas Valley Water District, General Obligation, NV<br>Series A, 5.00%, 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164496 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529160 |
| **NEW JERSEY — 4.4%** |  |  |
| New Jersey Economic Development Authority Revenue, NJ: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 11/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48729 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 11/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48340 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 11/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213014 |
| New Jersey Transportation Trust Fund Authority Revenue, NJ<br>Series A, 5.00%, 12/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123788 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433871 |
| **NEW YORK — 4.3%** |  |  |
| Battery Park City Authority Revenue, NY<br>Series B, 5.00%, 11/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31728 |
| Long Island Power Authority Revenue, NY<br>Series A, 5.00%, 9/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55071 |
| New York City Municipal Water Finance Authority Revenue, NY<br>Series AA, 5.00%, 6/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310923 |
| New York City Transitional Finance Authority Future Tax Secured Revenue, NY<br>Series A2, 5.00%, 5/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20874 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418596 |
| **NORTH CAROLINA — 2.3%** |  |  |
| City of Charlotte Airport Revenue, NC<br>Series A, 5.00%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225684 |
| **OHIO — 6.8%** |  |  |
| County of Hamilton Sales Tax Revenue, OH<br>Series A, 5.00%, 12/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246807 |
| Euclid Public Library, General Obligation, OH<br>Build America Mutual Assurance Corp., 5.00%, 12/1/2053 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109435 |
| State of Ohio Revenue, OH<br>Series 2016-1, 5.00%, 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305758 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662000 |
| **OREGON — 3.6%** |  |  |
| Oregon State Lottery Revenue, OR<br>Series A, 5.00%, 4/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327224 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| State of Oregon Department of Transportation Revenue, OR<br>Series A, 5.00%, 11/15/2042 | $25000 | &nbsp;&nbsp;$25394 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352618 |
| **PENNSYLVANIA — 6.5%** |  |  |
| City of Philadelphia, General Obligation, PA: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 2/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221256 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 2/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20847 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00%, 2/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15537 |
| Pennsylvania Turnpike Commission Revenue, PA: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-3, 5.00%, 12/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142047 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 12/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36848 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 12/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198951 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635486 |
| **RHODE ISLAND — 0.6%** |  |  |
| Rhode Island Commerce Corp. Revenue, RI<br>Series B, 5.00%, 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55986 |
| **SOUTH CAROLINA — 1.1%** |  |  |
| Richland County School District No. 2, General Obligation, SC<br>Series A, 5.00%, 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108888 |
| **TEXAS — 10.4%** |  |  |
| Aubrey Independent School District, General Obligation, TX<br>Permanent School Fund, 5.00%, 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323979 |
| CNP Utility District, General Obligation, TX<br>Build America Mutual Assurance Corp., 4.00%, 4/1/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225679 |
| Texas Water Development Board Revenue, TX<br>Series B, 5.00%, 4/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200981 |
| University of North Texas System Revenue, TX<br>Series A, 5.00%, 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46667 |
| Waller County Road Improvement District No. 1, General Obligation, TX<br>Series A, Assured Guaranty, Inc., 4.00%, 3/1/2037 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220992 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018298 |
| **UTAH — 3.0%** |  |  |
| State of Utah, General Obligation, UT<br>5.00%, 7/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244099 |
| University of Utah Revenue, UT<br>Series B-1, 5.00%, 8/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51074 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295173 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2029 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **VERMONT — 2.4%** |  |  |
| Vermont Educational & Health Buildings Financing Agency Revenue, VT<br>5.00%, 11/1/2035 | $225000 | &nbsp;&nbsp;$236400 |
| **VIRGINIA — 0.5%** |  |  |
| Virginia Commonwealth Transportation Board Revenue, VA<br>5.00%, 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46101 |
| **WASHINGTON — 5.7%** |  |  |
| City of Kennewick Water & Sewer Revenue, WA<br>4.00%, 12/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227449 |
| County of King, General Obligation, WA<br>5.00%, 1/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169983 |
| State of Washington, General Obligation, WA: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020A, 5.00%, 8/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59062 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020A, 5.00%, 8/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15600 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-A, 5.00%, 8/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84129 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556223 |
| **WEST VIRGINIA — 0.9%** |  |  |
| West Virginia Commissioner of Highways Revenue, WV<br>Series A, 5.00%, 9/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83553 |
| **WISCONSIN — 4.7%** |  |  |
| State of Wisconsin, General Obligation, WI<br>Series B, 5.00%, 5/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464599 |
| **TOTAL MUNICIPAL BONDS & NOTES<br>(Cost $9,698,063)<br>** | **TOTAL MUNICIPAL BONDS & NOTES<br>(Cost $9,698,063)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;9614158 |

---

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

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENT — 0.7%** | **SHORT-TERM INVESTMENT — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (b) (c)<br>(Cost $68,054) | 68054 | &nbsp;&nbsp;$68054 |
| **TOTAL INVESTMENTS — 98.9%<br>(Cost $9,766,117)<br>** | **TOTAL INVESTMENTS — 98.9%<br>(Cost $9,766,117)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;9682212 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 1.1% <br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 1.1% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109973 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $9792185 |

---

(a) Bond is insured by the following:

---

| | |
|:---|:---|
|  | **% of<br> Net Assets** |
| Build America Mutual Assurance Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.8% |
| Assured Guaranty, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.3% |

---

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

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

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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:** |  |  |  |  |
| Municipal Bonds & Notes<br>| $— | $9614158 | $— | $9614158 |
| Short-Term Investment<br>| &nbsp;&nbsp;68054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68054 |
| **TOTAL INVESTMENTS<br>**  | $68054 | $9614158 | $— | $9682212 |

---

#### 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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>– $— | $9539594 | $9471540 | $— | $— | 68054 | $68054 | $3877 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2030 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MUNICIPAL BONDS & NOTES — 98.3%** | **MUNICIPAL BONDS & NOTES — 98.3%** |  |
| **ALABAMA — 3.8%** |  |  |
| Alabama Public School & College Authority Revenue, AL: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 11/1/2034 | $225000 | &nbsp;&nbsp;$244022 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 11/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83357 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327379 |
| **ARIZONA — 2.8%** |  |  |
| City of Phoenix Civic Improvement Corp. Revenue, AZ: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20384 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 7/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219680 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240064 |
| **CALIFORNIA — 1.1%** |  |  |
| San Rafael City High School District, General Obligation, CA<br>Series A, 4.00%, 8/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87935 |
| University of California Revenue, CA<br>Series AR, 5.00%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10170 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98105 |
| **COLORADO — 1.9%** |  |  |
| University of Colorado Revenue, CO<br>Series B, 5.00%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166814 |
| **CONNECTICUT — 3.7%** |  |  |
| State of Connecticut Special Tax Revenue, CT: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51149 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 5/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268638 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319787 |
| **DELAWARE — 1.7%** |  |  |
| Delaware Transportation Authority Revenue, DE<br>5.00%, 9/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144570 |
| **FLORIDA — 1.9%** |  |  |
| City of North Miami Beach Water Revenue, FL<br>Series A, 5.00%, 8/1/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100166 |
| County of Orange Water Utility System Revenue, FL<br>5.00%, 10/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58684 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158850 |
| **HAWAII — 3.5%** |  |  |
| City & County of Honolulu, General Obligation, HI: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194307 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106920 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301227 |
| **IDAHO — 2.6%** |  |  |
| Idaho State Building Authority Revenue, ID<br>Series 2025A, 5.00%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223157 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ILLINOIS — 1.7%** |  |  |
| Illinois State Toll Highway Authority Revenue, IL<br>Series B, 5.00%, 1/1/2030 | $100000 | &nbsp;&nbsp;$100643 |
| Kane County Community Unit School District No. 304 Geneva, General Obligation, IL<br>5.00%, 1/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41295 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141938 |
| **IOWA — 3.4%** |  |  |
| Iowa Finance Authority Revenue, IA: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 8/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113370 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 8/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176636 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290006 |
| **KENTUCKY — 0.5%** |  |  |
| Kentucky State Property & Building Commission Revenue, KY<br>5.00%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42460 |
| **MICHIGAN — 5.2%** |  |  |
| Great Lakes Water Authority Water Supply System Revenue, MI<br>Series D, 5.00%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203478 |
| Harrison Community Schools, General Obligation, MI<br>Series III, Qualified School Bond Loan Fund, 4.00%, 5/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220039 |
| L'Anse Creuse Public Schools, General Obligation, MI<br>Series I, Qualified School Bond Loan Fund, 5.00%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22135 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445652 |
| **MINNESOTA — 2.8%** |  |  |
| Minneapolis-St. Paul Metropolitan Airports Commission Revenue, MN<br>Series A, 5.00%, 1/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67011 |
| Minnesota Public Facilities Authority State Revolving Fund Revenue, MN<br>Series A, 5.00%, 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166923 |
| State of Minnesota, General Obligation, MN<br>Series A, 5.00%, 8/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10468 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244402 |
| **MISSISSIPPI — 2.3%** |  |  |
| Mississippi Development Bank Revenue, MS<br>4.00%, 10/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198784 |
| **MISSOURI — 3.2%** |  |  |
| City of Kansas City, General Obligation, MO<br>Series A, 5.00%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164366 |
| St. Louis County School District C-2 Parkway, General Obligation, MO<br>Series C, 5.00%, 3/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111130 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275496 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2030 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **NEVADA — 2.5%** |  |  |
| Clark County School District, General Obligation, NV<br>Series A, Assured Guaranty, Inc., 5.00%, 6/15/2035 (a) | $200000 | &nbsp;&nbsp;$213002 |
| **NEW MEXICO — 1.9%** |  |  |
| New Mexico Finance Authority Revenue, NM<br>Series A, 5.00%, 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159522 |
| **NEW YORK — 7.7%** |  |  |
| Empire State Development Corp. Revenue, NY<br>Series C, 5.00%, 3/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276793 |
| New York State Dormitory Authority Revenue, NY<br>Series A, 5.00%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15359 |
| New York State Thruway Authority Revenue, NY<br>Series N, 5.00%, 1/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51689 |
| New York Transportation Development Corp. Revenue, NY<br>Series C, 5.00%, 12/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312252 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656093 |
| **NORTH CAROLINA — 2.3%** |  |  |
| City of Charlotte Water & Sewer System Revenue, NC<br>5.00%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195585 |
| **OHIO — 4.8%** |  |  |
| Ohio Higher Educational Facility Commission Revenue, OH<br>5.00%, 10/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84528 |
| Ohio Water Development Authority Water Pollution Control Loan Fund Revenue, OH: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 6/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271544 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 12/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53084 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409156 |
| **OKLAHOMA — 4.2%** |  |  |
| Grand River Dam Authority Revenue, OK<br>Series A, 5.00%, 6/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92452 |
| Oklahoma Capitol Improvement Authority Revenue, OK<br>5.00%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264173 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356625 |
| **OREGON — 1.7%** |  |  |
| City of Portland Sewer System Revenue, OR<br>Series A, 5.00%, 10/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111701 |
| State of Oregon Department of Transportation Revenue, OR<br>Series A, 5.00%, 11/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35552 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147253 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **PENNSYLVANIA — 7.3%** |  |  |
| City of Philadelphia Water & Wastewater Revenue, PA<br>Series A, 5.00%, 11/1/2039 | $240000 | &nbsp;&nbsp;$248465 |
| Pennsylvania Turnpike Commission Revenue, PA: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2ND, 5.00%, 12/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262210 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00%, 12/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114397 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625072 |
| **SOUTH CAROLINA — 1.2%** |  |  |
| Clemson University Revenue, SC<br>Series A, 5.00%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99631 |
| **TEXAS — 6.0%** |  |  |
| City of Dallas, General Obligation, TX<br>5.00%, 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144397 |
| Dallas Fort Worth International Airport Revenue, TX<br>5.00%, 11/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82707 |
| Harris County Municipal Utility District No. 559, General Obligation, TX<br>Build America Mutual Assurance Corp., 4.00%, 9/1/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19931 |
| Lower Colorado River Authority Revenue, TX<br>5.00%, 5/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31097 |
| Tarrant County Cultural Education Facilities Finance Corp. Revenue, TX<br>Series A, 5.00%, 7/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238346 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516478 |
| **UTAH — 0.6%** |  |  |
| Central Utah Water Conservancy District Revenue, UT<br>Series D, 5.00%, 10/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15945 |
| Utah Associated Municipal Power Systems Revenue, UT<br>Series A, 5.00%, 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36727 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52672 |
| **VIRGINIA — 1.2%** |  |  |
| Virginia College Building Authority Revenue, VA<br>Series C, 5.00%, 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105882 |
| **WASHINGTON — 12.3%** |  |  |
| Chelan County Public Utility District No. 1 Revenue, WA<br>Series A, 4.00%, 7/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226966 |
| City of Seattle Municipal Light & Power Revenue, WA<br>Series C, 5.00%, 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120530 |
| County of King, General Obligation, WA<br>Series A, 5.00%, 12/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206166 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SPDR SSGA MY2030 MUNICIPAL BOND ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| King County School District No. 405 Bellevue, General Obligation, WA<br>School Bond Guaranty, 5.00%, 12/1/2030 | $165000 | &nbsp;&nbsp;$169582 |
| Washington Health Care Facilities Authority Revenue, WA: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 9/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153848 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A2, 5.00%, 8/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179127 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056219 |
| **WISCONSIN — 2.5%** |  |  |
| Platteville School District, General Obligation, WI<br>4.00%, 3/1/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217475 |
| **TOTAL MUNICIPAL BONDS & NOTES<br>(Cost $8,505,321)<br>** | **TOTAL MUNICIPAL BONDS & NOTES<br>(Cost $8,505,321)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;8429356 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENT — 0.4%** | **SHORT-TERM INVESTMENT — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional Treasury Plus Money Market Fund - Premier Class 4.21% (b) (c)<br>(Cost $35,907) | 35907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35907 |
| **TOTAL INVESTMENTS — 98.7%<br>(Cost $8,541,228)<br>** | **TOTAL INVESTMENTS — 98.7%<br>(Cost $8,541,228)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;8465263 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 1.3% <br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 1.3% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108992 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $8574255 |

---

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

(a) Bond is insured by the following:

---

| | |
|:---|:---|
|  | **% of<br> Net Assets** |
| Assured Guaranty, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
| Build America Mutual Assurance Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.2% |

---

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

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

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of August 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:** |  |  |  |  |
| Municipal Bonds & Notes<br>| $— | $8429356 | $— | $8429356 |
| Short-Term Investment<br>| &nbsp;&nbsp;35907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35907 |
| **TOTAL INVESTMENTS<br>**  | $35907 | $8429356 | $— | $8465263 |

---

#### 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> 8/31/25** | **Value at<br>8/31/25** | **Dividend<br> Income** |
| State Street Institutional Treasury Plus Money Market Fund - Premier Class<br>– $— | $8888152 | $8852245 | $— | $— | 35907 | $35907 | $3534 |

---

\* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

[This Page Intentionally Left Blank]

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### STATEMENTS OF ASSETS AND LIABILITIES

#### August 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
|  | **SPDR SSGA My2026 Municipal Bond ETF** | **SPDR SSGA My2027 Municipal Bond ETF** | **SPDR SSGA My2028 Municipal Bond ETF** |
| **ASSETS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in unaffiliated issuers, at value<br>| &nbsp;&nbsp;&nbsp;&nbsp;$6099136 | $6068520 | $4774636 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in affiliated issuers, at value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Investments<br>| &nbsp;&nbsp;&nbsp;6141082 | &nbsp;&nbsp;&nbsp;6095722 | &nbsp;&nbsp;&nbsp;4826933 |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivable for fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1244585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest receivable — unaffiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL ASSETS <br>**  | &nbsp;&nbsp;&nbsp;7468410 | &nbsp;&nbsp;&nbsp;6169567 | &nbsp;&nbsp;&nbsp;4891520 |
| **LIABILITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Advisory fee payable<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829 |
| &nbsp;&nbsp;&nbsp;&nbsp;Trustees' fees and expenses payable<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES <br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**NET ASSETS <br>**  | $7467512 | $6168684 | $4890672 |
| **NET ASSETS CONSIST OF:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Paid-in capital<br>| $7496177 | $6240419 | $5006000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total distributable earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28665) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71735) | &nbsp;&nbsp;&nbsp;&nbsp;(115328) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**NET ASSETS <br>**  | $7467512 | $6168684 | $4890672 |
| **NET ASSET VALUE PER SHARE** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net asset value per share<br>| $24.89 | $24.67 | $24.45 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding (unlimited amount authorized, $0.01 par value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |
| **COST OF INVESTMENTS:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in unaffiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;$6114344 | $6073708 | $4805623 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in affiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52297 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cost of investments<br>| $6156290 | $6100910 | $4857920 |

---

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

------

---

| | |
|:---|:---|
| **SPDR SSGA My2029 Municipal Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2030 Municipal Bond ETF** |
| &nbsp;&nbsp;&nbsp;$9614158 | &nbsp;&nbsp;&nbsp;&nbsp;$8429356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35907 |
| &nbsp;&nbsp;9682212 | &nbsp;&nbsp;&nbsp;&nbsp;8465263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110302 |
| &nbsp;&nbsp;9793788 | &nbsp;&nbsp;&nbsp;&nbsp;8575727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1454 |
| &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;18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472 |
| $9792185 | &nbsp;&nbsp;$8574255 |
| $9907460 | &nbsp;&nbsp;$8707627 |
| &nbsp;&nbsp;&nbsp;&nbsp;(115275) | &nbsp;&nbsp;&nbsp;&nbsp;(133372) |
| $9792185 | &nbsp;&nbsp;$8574255 |
| $24.48 | &nbsp;&nbsp;$24.50 |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 |
| &nbsp;&nbsp;&nbsp;$9698063 | &nbsp;&nbsp;&nbsp;&nbsp;$8505321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35907 |
| $9766117 | &nbsp;&nbsp;$8541228 |

---

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### STATEMENTS OF OPERATIONS

#### For the period September 24, 2024\* through August 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
|  | **SPDR SSGA My2026 Municipal Bond ETF** | **SPDR SSGA My2027 Municipal Bond ETF** | **SPDR SSGA My2028 Municipal Bond ETF** |
| **INVESTMENT INCOME** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income — unaffiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;$149027 | $152863 | $150012 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividend income — affiliated issuers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2192 |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENT INCOME (LOSS)<br>**  | &nbsp;&nbsp;&nbsp;151171 | &nbsp;&nbsp;&nbsp;155311 | &nbsp;&nbsp;&nbsp;&nbsp;152204 |
| **EXPENSES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Advisory fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9197 |
| &nbsp;&nbsp;&nbsp;&nbsp;Trustees' fees and expenses <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL EXPENSES<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9258 |
| &nbsp;&nbsp;&nbsp;&nbsp;**NET INVESTMENT INCOME (LOSS)<br>**  | $141756 | $145970 | $142946 |
| **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;(27699) | &nbsp;&nbsp;&nbsp;&nbsp;(89136) | &nbsp;&nbsp;&nbsp;(106139) |
| &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;&nbsp;&nbsp;(15208) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5188) | &nbsp;&nbsp;&nbsp;&nbsp;(30987) |
| &nbsp;&nbsp;&nbsp;&nbsp;**NET REALIZED AND UNREALIZED GAIN (LOSS)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(42907) | &nbsp;&nbsp;&nbsp;&nbsp;(94324) | &nbsp;&nbsp;&nbsp;(137126) |
| **NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS<br>**  | $98849 | $51646 | $5820 |

---

<br> \* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

------

---

| | |
|:---|:---|
| **SPDR SSGA My2029 Municipal Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2030 Municipal Bond ETF** |
| &nbsp;&nbsp;&nbsp;$224234 | &nbsp;&nbsp;&nbsp;&nbsp;$229769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3534 |
| &nbsp;&nbsp;&nbsp;228111 | &nbsp;&nbsp;&nbsp;&nbsp;233303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 |
| &nbsp;&nbsp;&nbsp;&nbsp;13639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14079 |
| $214472 | &nbsp;&nbsp;$219224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54669) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81632) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83905) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75965) |
| &nbsp;&nbsp;(138574) | &nbsp;&nbsp;&nbsp;&nbsp;(157597) |
| $75898 | &nbsp;&nbsp;$61627 |

---

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### STATEMENTS OF CHANGES IN NET ASSETS

------

---

| | | |
|:---|:---|:---|
|  | **SPDR SSGA My2026 Municipal Bond ETF** | **SPDR SSGA My2027 Municipal Bond ETF** |
|  | **For the Period<br> 9/24/24\*-<br> 8/31/25** | **For the Period<br> 9/24/24\*-<br> 8/31/25** |
| **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;$141756 | $145970 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27699) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89136) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation/depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15208) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5188) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51646 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net equalization credits and charges<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2806 |
| &nbsp;&nbsp;&nbsp;&nbsp;Distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;(127514) | &nbsp;&nbsp;&nbsp;&nbsp;(133221) |
| **FROM BENEFICIAL INTEREST TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7488684 | &nbsp;&nbsp;&nbsp;6232940 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income equalization<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5689) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2806) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other capital<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7479 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) in net assets from beneficial interest transactions <br>**  | &nbsp;&nbsp;&nbsp;7490488 | &nbsp;&nbsp;&nbsp;6237613 |
| &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9840 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets during the period<br>| &nbsp;&nbsp;&nbsp;7467512 | &nbsp;&nbsp;&nbsp;6168684 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net assets at beginning of period<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;— |
| **NET ASSETS AT END OF PERIOD<br>**  | $7467512 | $6168684 |
| **SHARES OF BENEFICIAL INTEREST:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) from share transactions<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 |

---

<br> \* Commencement of operations.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

------

---

| | | |
|:---|:---|:---|
| **SPDR SSGA My2028 Municipal Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2029 Municipal Bond ETF** | &nbsp;&nbsp;**SPDR SSGA My2030 Municipal Bond ETF** |
| **For the Period<br> 9/24/24\*-<br> 8/31/25** | &nbsp;&nbsp;**For the Period<br> 9/24/24\*-<br> 8/31/25** | &nbsp;&nbsp;**For the Period<br> 9/24/24\*-<br> 8/31/25** |
| &nbsp;&nbsp;&nbsp;$142946 | &nbsp;&nbsp;&nbsp;&nbsp;$214472 | &nbsp;&nbsp;$219224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106139) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54669) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81632) |
| &nbsp;&nbsp;&nbsp;&nbsp;(30987) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83905) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75965) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7748 |
| &nbsp;&nbsp;&nbsp;&nbsp;(130255) | &nbsp;&nbsp;&nbsp;&nbsp;(194512) | &nbsp;&nbsp;&nbsp;&nbsp;(204889) |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9895585 | &nbsp;&nbsp;&nbsp;&nbsp;8697190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4623) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7748) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10437 |
| &nbsp;&nbsp;5006000 | &nbsp;&nbsp;&nbsp;&nbsp;9902837 | &nbsp;&nbsp;&nbsp;&nbsp;8699879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9890 |
| &nbsp;&nbsp;4890672 | &nbsp;&nbsp;&nbsp;&nbsp;9792185 | &nbsp;&nbsp;&nbsp;&nbsp;8574255 |
| $4890672 | &nbsp;&nbsp;$9792185 | &nbsp;&nbsp;$8574255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 |

---

<br> \* Commencement of operations.

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2026 Municipal Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;0.71 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.25) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.46 |
| Net equalization credits and charges<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.03 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.04 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.64) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$24.89 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;2.15% |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$7468 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.20%(d) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.03%(d) |
| Portfolio turnover rate<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48%(e) |

---

\* Commencement of operations.

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

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

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

(d) Annualized.

(e) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2027 Municipal Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;0.73 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.49) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.24 |
| Net equalization credits and charges<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.01 |
| Contribution from affiliate (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.05 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.04 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.67) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$24.67 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;1.40%(d) |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$6169 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.20%(e) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.15%(e) |
| Portfolio turnover rate<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87%(f) |

---

\* Commencement of operations.

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

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

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

(d) If an affiliate had not made a contribution during the period ended August 31, 2025, the total return would have been 1.17%.

(e) Annualized.

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2028 Municipal Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;0.71 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.69) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.02 |
| Contribution from affiliate (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.05 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.03 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.65) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$24.45 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;0.44%(d) |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$4891 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.20%(e) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.11%(e) |
| Portfolio turnover rate<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96%(f) |

---

\* Commencement of operations.

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

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

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

(d) If an affiliate had not made a contribution during the period ended August 31, 2025, the total return would have been 0.22%.

(e) Annualized.

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2029 Municipal Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;0.72 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.64) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.08 |
| Net equalization credits and charges (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.02 |
| Contribution from affiliate (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.01 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.04 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.67) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$24.48 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;0.64%(d) |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$9792 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.20%(e) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.16%(e) |
| Portfolio turnover rate<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52%(f) |

---

\* Commencement of operations.

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

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

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

(d) If an affiliate had not made a contribution during the period ended August 31, 2025, the total return would have been 0.59%.

(e) Annualized.

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### FINANCIAL HIGHLIGHTS (continued)

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

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SPDR SSGA My2030 Municipal Bond ETF** |
|  | &nbsp;&nbsp;**For the<br> Period<br> 9/24/24\*-<br> 8/31/25** |
| **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;0.72 |
| Net realized and unrealized gain (loss) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.65) |
| Total from investment operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.07 |
| Net equalization credits and charges (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.03 |
| Contribution from affiliate (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.03 |
| Other capital (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.03 |
| **Distributions to shareholders from:** |  |
| Net investment income<br>| &nbsp;&nbsp;&nbsp;&nbsp;(0.66) |
| **Net asset value, end of period<br>**  | &nbsp;&nbsp;$24.50 |
| **Total return (c)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;0.65%(d) |
| **Ratios and Supplemental Data:** |  |
| Net assets, end of period (in 000s)<br>| &nbsp;&nbsp;$8574 |
| **Ratios to average net assets:** |  |
| Total expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.20%(e) |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.13%(e) |
| Portfolio turnover rate<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75%(f) |

---

\* Commencement of operations.

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

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

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

(d) If an affiliate had not made a contribution during the period ended August 31, 2025, the total return would have been 0.50%.

(e) Annualized.

(f) Not annualized.

*See accompanying notes to financial statements.* 

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS

#### August 31, 2025

------

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

SSGA Active 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 August 31, 2025, the Trust consists of thirty-four (34) 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 with no par value. The financial statements herein relate to the following series (each, a "Fund" and collectively, the "Funds"):

---

| |
|:---|
| SPDR SSGA My2026 Municipal Bond ETF |
| SPDR SSGA My2027 Municipal Bond ETF |
| SPDR SSGA My2028 Municipal Bond ETF |
| SPDR SSGA My2029 Municipal Bond ETF |
| SPDR SSGA My2030 Municipal Bond ETF |

---

Each of the Funds was formed on September 23, 2024 and commenced operations on September 24, 2024. Each Fund is classified as a non-diversified investment company under the 1940 Act.

Under the Trust's organizational documents, its officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

2.&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:

• 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

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

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.

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

In the event prices or quotations are not readily available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with the valuation policy and procedures approved by the Board.

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 August 31, 2025, is disclosed in each Fund's respective Schedule of Investments.

#### Investment Transactions and Income Recognition
Investment transactions are accounted for on the trade date for financial reporting purposes. Realized gains and losses from the sale and disposition of investments are determined using the identified cost method. Interest income is recorded daily on an accrual basis. All premiums and discounts are amortized/accreted for financial reporting purposes.

#### 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.

#### Equalization
The Funds follow the accounting practice known as "Equalization" by which a portion of the proceeds from sales and costs of reacquiring Fund shares, equivalent on a per share basis to the amount of distributable net investment income on the date of the transaction, is credited or charged to undistributed net investment income. As a result, undistributed net investment income per share is unaffected by sales or reacquisition of Fund shares. Amounts related to Equalization can be found on the Statements of Changes in Net Assets.&nbsp;&nbsp;&nbsp;&nbsp;

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

#### Distributions
Distributions from net investment income if any, are declared and paid monthly.

Distributions from net investment income 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 comply with the distribution requirements of the Internal Revenue Code of 1986 (the "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.

4.&nbsp;&nbsp;&nbsp;&nbsp;Securities and Other Investments

#### Delayed Delivery Transactions and When-Issued Securities
During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed delivery or when-issued basis are identified as such in each applicable Fund's Schedule of Investments. The Funds may receive compensation for interest forgone in the purchase of a delayed delivery or when-issued security. With respect to purchase commitments, the Funds identify securities as segregated in their records with a value at least equal to the amount of the commitment. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic or other factors.

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 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 SSGA My2026 Municipal Bond ETF <br>| &nbsp;&nbsp;0.20% |
| SPDR SSGA My2027 Municipal Bond ETF<br>| &nbsp;&nbsp;0.20 |
| SPDR SSGA My2028 Municipal Bond ETF <br>| &nbsp;&nbsp;0.20 |
| SPDR SSGA My2029 Municipal Bond ETF<br>| &nbsp;&nbsp;0.20 |
| SPDR SSGA My2030 Municipal Bond ETF<br>| &nbsp;&nbsp;0.20 |

---

With respect to each Fund, the Management fee is reduced by the acquired fund fees and expenses attributable to the Fund's investments in other investment companies (except acquired fund fees and expenses associated with holdings of acquired funds for cash management purposes).

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

#### Administrator, Custodian, Sub-Administrator and Transfer Agent
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.

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

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

During the period ended August 31, 2025, the Adviser made contributions of $9,840, $9,107, $3,339 and $9,890 to the SPDR SSGA My2027 Municipal Bond ETF, SPDR SSGA My2028 Municipal Bond ETF, SPDR SSGA My2029 Municipal Bond ETF and SPDR SSGA My2030 Municipal Bond ETF, respectively, related to a trading matter.

#### Due to Custodian
In certain circumstances, the Funds may have cash overdrafts with the Custodian due to expense payments, capital transactions, trading of securities, investment operations or derivative transactions. The Due to Custodian amount, if any, reflects cash overdrawn with State Street, as custodian, who is an affiliate of the Funds.

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

The fees and expenses of the Independent Trustee are paid directly by the Funds. The Independent Trustee 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 period ended August 31, 2025, were as follows:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| SPDR SSGA My2026 Municipal Bond ETF <br>| $7643763 | $2255676 |
| SPDR SSGA My2027 Municipal Bond ETF<br>| &nbsp;&nbsp;&nbsp;10270076 | &nbsp;&nbsp;&nbsp;4330438 |
| SPDR SSGA My2028 Municipal Bond ETF <br>| &nbsp;&nbsp;&nbsp;&nbsp;9543076 | &nbsp;&nbsp;&nbsp;4674438 |
| SPDR SSGA My2029 Municipal Bond ETF<br>| &nbsp;&nbsp;&nbsp;13588115 | &nbsp;&nbsp;&nbsp;3755954 |
| SPDR SSGA My2030 Municipal Bond ETF<br>| &nbsp;&nbsp;&nbsp;14210167 | &nbsp;&nbsp;&nbsp;5542175 |

---

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

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

The Funds intend to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code of 1986, as amended. Each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. Therefore, no provision for federal income tax is required.

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

The Funds 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.

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 net asset values or results of operations. Temporary book-tax differences will reverse in the future. These book-tax differences are primarily due to wash sale loss deferrals, These book-tax differences are primarily due to wash sale loss deferrals, advisor contributions, and amortization and accretion of premium and discount for financial statement purposes.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Ordinary<br> Income** | **Tax Exempt<br> Income** | **Long-Term<br> Capital Gains** | **Total** |
| SPDR SSGA My2026 Municipal Bond ETF <br>| $2010 | $125504 | $— | $127514 |
| SPDR SSGA My2027 Municipal Bond ETF<br>| &nbsp;&nbsp;&nbsp;2301 | &nbsp;&nbsp;&nbsp;130920 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;133221 |
| SPDR SSGA My2028 Municipal Bond ETF <br>| &nbsp;&nbsp;&nbsp;2059 | &nbsp;&nbsp;&nbsp;128196 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;130255 |
| SPDR SSGA My2029 Municipal Bond ETF<br>| &nbsp;&nbsp;&nbsp;3645 | &nbsp;&nbsp;&nbsp;190867 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;194512 |
| SPDR SSGA My2030 Municipal Bond ETF<br>| &nbsp;&nbsp;&nbsp;3321 | &nbsp;&nbsp;&nbsp;201568 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;204889 |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Undistributed<br> Ordinary Income** | **Undistributed<br> Tax Exempt<br> Income** | **Capital Loss<br> Carryforwards** | **Undistributed<br> Long-Term<br> Capital Gains** | **Net Unrealized<br> Gains (Losses)** | **Total** |
| SPDR SSGA My2026 Municipal Bond ETF <br>| $— | $12494 | $(27419) | $— | $(13740) | $(28665) |
| SPDR SSGA My2027 Municipal Bond ETF<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;12713 | &nbsp;&nbsp;(79258) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(5190) | &nbsp;&nbsp;&nbsp;(71735) |
| SPDR SSGA My2028 Municipal Bond ETF <br>| &nbsp;&nbsp;— | &nbsp;&nbsp;12486 | &nbsp;&nbsp;(96829) | &nbsp;&nbsp;— | &nbsp;&nbsp;(30985) | &nbsp;&nbsp;(115328) |
| SPDR SSGA My2029 Municipal Bond ETF<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;19914 | &nbsp;&nbsp;(51284) | &nbsp;&nbsp;— | &nbsp;&nbsp;(83905) | &nbsp;&nbsp;(115275) |
| SPDR SSGA My2030 Municipal Bond ETF<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;14313 | &nbsp;&nbsp;(71733) | &nbsp;&nbsp;— | &nbsp;&nbsp;(75952) | &nbsp;&nbsp;(133372) |

---

As of August 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 SSGA My2026 Municipal Bond ETF <br>| $27419 | $— |
| SPDR SSGA My2027 Municipal Bond ETF<br>| &nbsp;&nbsp;&nbsp;79258 | &nbsp;&nbsp;&nbsp;— |
| SPDR SSGA My2028 Municipal Bond ETF <br>| &nbsp;&nbsp;&nbsp;96829 | &nbsp;&nbsp;&nbsp;— |
| SPDR SSGA My2029 Municipal Bond ETF<br>| &nbsp;&nbsp;&nbsp;51284 | &nbsp;&nbsp;&nbsp;— |
| SPDR SSGA My2030 Municipal Bond ETF<br>| &nbsp;&nbsp;&nbsp;71733 | &nbsp;&nbsp;&nbsp;— |

---

As of August 31, 2025, gross unrealized appreciation and gross unrealized depreciation of investments 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 SSGA My2026 Municipal Bond ETF <br>| $6154822 | $10464 | $24204 | $(13740) |
| SPDR SSGA My2027 Municipal Bond ETF<br>| &nbsp;&nbsp;6100912 | &nbsp;&nbsp;22527 | &nbsp;&nbsp;&nbsp;&nbsp;27717 | &nbsp;&nbsp;&nbsp;&nbsp;(5190) |
| SPDR SSGA My2028 Municipal Bond ETF <br>| &nbsp;&nbsp;4857918 | &nbsp;&nbsp;26706 | &nbsp;&nbsp;&nbsp;&nbsp;57691 | &nbsp;&nbsp;(30985) |
| SPDR SSGA My2029 Municipal Bond ETF<br>| &nbsp;&nbsp;9766117 | &nbsp;&nbsp;54648 | &nbsp;&nbsp;138553 | &nbsp;&nbsp;(83905) |
| SPDR SSGA My2030 Municipal Bond ETF<br>| &nbsp;&nbsp;8541215 | &nbsp;&nbsp;48595 | &nbsp;&nbsp;124547 | &nbsp;&nbsp;(75952) |

---

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### NOTES TO FINANCIAL STATEMENTS (continued)

#### August 31, 2025

------

10.&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 were more broadly diversified.

#### Credit Risk
The Funds may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which the Funds have 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. A Fund is 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.

11.&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.

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

------

To the Shareholders of SPDR SSGA My2026 Municipal Bond ETF, SPDR SSGA My2027 Municipal Bond ETF, SPDR SSGA My2028 Municipal Bond ETF, SPDR SSGA My2029 Municipal Bond ETF, and SPDR SSGA My2030 Municipal Bond ETF and the Board of Trustees of SSGA Active Trust

#### Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of SPDR SSGA My2026 Municipal Bond ETF, SPDR SSGA My2027 Municipal Bond ETF, SPDR SSGA My2028 Municipal Bond ETF, SPDR SSGA My2029 Municipal Bond ETF, and SPDR SSGA My2030 Municipal Bond ETF (collectively, the "Funds") (five of the funds constituting SSGA Active Trust (the "Trust")), including the schedules of investments, as of August 31, 2025, and the related statements of operations, changes in net assets, and the financial highlights for the period from September 24, 2024 (commencement of operations) through August 31, 2025 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 (five of the funds constituting SSGA Active Trust) at August 31, 2025, and the results of their operations, the changes in their net assets and their financial highlights for the period from September 24, 2024 (commencement of operations) through August 31, 2025, in conformity with U.S. generally accepted accounting principles.

#### Basis for Opinion
These financial statements are the responsibility of the Trust's management. Our responsibility is to express an opinion on 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.

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 August 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.

![](g62600img180659752.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

October 21, 2025

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

#### SSGA ACTIVE TRUST

#### OTHER INFORMATION

#### August 31, 2025 (Unaudited)

------

#### Tax Information
For federal income tax purposes, the following information is furnished with respect to the distributions of each Fund for its fiscal year ended August 31, 2025.

#### Interest Dividends
Each Fund reports the maximum amount allowable as Section 163(j) Interest Dividends.

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

#### Tax-Exempt Income
The percentage of distributions paid by the Funds that are exempt-interest distributions are as follows:

---

| | |
|:---|:---|
|  | **Percentage** |
| SPDR SSGA My2026 Municipal Bond ETF <br>| 98.42% |
| SPDR SSGA My2027 Municipal Bond ETF<br>| 98.27% |
| SPDR SSGA My2028 Municipal Bond ETF <br>| 98.42% |
| SPDR SSGA My2029 Municipal Bond ETF<br>| 98.13% |
| SPDR SSGA My2030 Municipal Bond ETF<br>| 98.38% |

---

------

[**Table of Contents**](#JOB_SSGA__9d0362f4-d5a5-4052-81e5-f82685a3910f_TOC-LETTERSIZE-STANDARD)

------

#### 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
The registrant's Statement Regarding Basis for Approval of Investment Advisory Contract is included as part of the Financial Statements filed under Item 7(a) of this Form.

#### 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.](d62600dex99code.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.](d62600dex99cert.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, as amended, and Section 1350 of Chapter 63 of Title 18 of the United States Code for the principal executive officer and principal financial officer of the registrant is attached.](d62600dex99906cert.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.

---

| | |
|:---|:---|
| **SSGA Active Trust** | **SSGA Active Trust** |
| By: | /s/ Ann M. Carpenter |
|  | Ann M. Carpenter |
|  | President and Principal Executive Officer |
| Date: | November 3, 2025 |

---

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

---

| | |
|:---|:---|
| By: | /s/ Ann M. Carpenter |
|  | Ann M. Carpenter |
|  | President and Principal Executive Officer |
| Date: | November 3, 2025 |
| By: | /s/ Bruce S. Rosenberg |
|  | Bruce S. Rosenberg |
|  | Treasurer and Principal Financial Officer |
| Date: | November 3, 2025 |

---

## 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 this Code:

&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.

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Please sign your name here: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Please print your name here: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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.

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Please sign your name here: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Please print your name here: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Please date here: |

---

## Ex-99.Cert

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

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

I, Ann M. Carpenter, President and Principal Executive Officer of SSGA Active Trust, certify that:

1. I have reviewed this report on Form N-CSR of SSGA Active 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: | November 3, 2025 |
| By: | /s/ Ann M. Carpenter |
|  | Ann M. Carpenter |
|  | President and Principal Executive Officer |

---

------

I, Bruce S. Rosenberg, Treasurer and Principal Financial Officer of SSGA Active Trust, certify that:

1. I have reviewed this report on Form N-CSR of SSGA Active 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: | November 3, 2025 |
| By: | /s/ Bruce S. Rosenberg |
|  | Bruce S. Rosenberg |
|  | Treasurer and Principal Financial Officer |

---

## 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 SSGA Active 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.

---

| | |
|:---|:---|
| By: | /s/ Ann M. Carpenter |
|  | Ann M. Carpenter |
|  | President and Principal Executive Officer |
| Date: | November 3, 2025 |
| By: | /s/ Bruce S. Rosenberg |
|  | Bruce S. Rosenberg |
|  | Treasurer and Principal Financial Officer |
| Date: | November 3, 2025 |

---