# EDGAR Filing Document

**Accession Number:** 0001064641
**File Stem:** 0001410368-26-019995
**Filing Date:** 2026-2
**Character Count:** 165622
**Document Hash:** 3a8c01587a04face792bb2360729be6c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-019995.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001410368-26-019995

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SELECT SECTOR SPDR TRUST
- **CENTRAL INDEX KEY:** 0001064641

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08837
- **FILM NUMBER:** 26689724

**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:** SECTOR SPDR TRUST
- **DATE OF NAME CHANGE:** 19980622

## Series and Classes Contracts Data

### State Street(R) Health Care Select Sector SPDR(R) ETF (Series ID: S000006412)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000017598 | State Street(R) Health Care Select Sector SPDR(R) ETF | XLV             |

## Nport-Ex

## Quarterly Report
December 31, 2025

## The Select Sector SPDR<sup>®</sup> Trust
**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 from the Distributor, ALPS Portfolio Solutions Distributor, Inc., by calling 1-866-SECTOR-ETF (1-866-732-8673). Please read the prospectus carefully before you invest.**<br> ![](img0182af3d1.jpg)

------

**TABLE OF CONTENTS** (Unaudited)

---

| | |
|:---|:---|
| **[Schedules of Investments (Unaudited)](#xx_429d3007-c20d-465a-8d5c-894738975a7b_1)** |  |
| &nbsp;&nbsp;&nbsp;[State Street Communication Services Select Sector SPDR ETF (XLC) (formerly The Communication Services Select Sector SPDR Fund)](#xx_429d3007-c20d-465a-8d5c-894738975a7b_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;[State Street Consumer Discretionary Select Sector SPDR ETF (XLY) (formerly The Consumer Discretionary Select Sector SPDR Fund)](#xx_2924c479-c4f3-40a3-b20e-9ee23348673a_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;[State Street Consumer Staples Select Sector SPDR ETF (XLP) (formerly The Consumer Staples Select Sector SPDR Fund)](#xx_a3b11eca-d3f8-4587-ada0-8513a192fdfc_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| &nbsp;&nbsp;&nbsp;[State Street Energy Select Sector SPDR ETF (XLE) (formerly The Energy Select Sector SPDR Fund)](#xx_37b55088-caa2-4ec0-a247-2aef46def108_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| &nbsp;&nbsp;&nbsp;[State Street Financial Select Sector SPDR ETF (XLF) (formerly The Financial Select Sector SPDR Fund)](#xx_37126e62-3560-4d51-85bf-7e49b261c36e_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| &nbsp;&nbsp;&nbsp;[State Street Health Care Select Sector SPDR ETF (XLV) (formerly The Health Care Select Sector SPDR Fund)](#xx_03ca10f5-5d92-4590-aeac-1cb80677c96d_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11 |
| &nbsp;&nbsp;&nbsp;[State Street Industrial Select Sector SPDR ETF (XLI) (formerly The Industrial Select Sector SPDR Fund)](#xx_09c5f00d-2cde-4500-998a-d759d5a7c68a_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13 |
| &nbsp;&nbsp;&nbsp;[State Street Materials Select Sector SPDR ETF (XLB) (formerly The Materials Select Sector SPDR Fund)](#xx_16a686d0-af61-43ff-9325-ffe1202c4244_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16 |
| &nbsp;&nbsp;&nbsp;[State Street Real Estate Select Sector SPDR ETF (XLRE) (formerly The Real Estate Select Sector SPDR Fund)](#xx_ea9d3777-4941-4d0f-923a-55c3122a51ee_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18 |
| &nbsp;&nbsp;&nbsp;[State Street Technology Select Sector SPDR ETF (XLK) (formerly The Technology Select Sector SPDR Fund)](#xx_03993475-7f45-42b6-852c-adf71407e713_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;20 |
| &nbsp;&nbsp;&nbsp;[State Street Utilities Select Sector SPDR ETF (XLU) (formerly The Utilities Select Sector SPDR Fund)](#xx_eb458ad9-751d-4e07-aa2f-dd4589d03dd8_1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;22 |
| **[Notes to Schedules of Investments (Unaudited)](#xx_e1ea54b3-13cf-4c86-9f0f-5ccb3742e8b8_1)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;24 |

---

**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 from the Distributor, ALPS Portfolio Solutions Distributor, Inc., by calling 1-866-SECTOR-ETF (1-866-732-8673). Please read the prospectus carefully before you invest.**

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET COMMUNICATION SERVICES SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** |
| **DIVERSIFIED TELECOMMUNICATION SERVICES — 9.1%** | **DIVERSIFIED TELECOMMUNICATION SERVICES — 9.1%** | **DIVERSIFIED TELECOMMUNICATION SERVICES — 9.1%** |
| AT&T, Inc. | 49458021 | &nbsp;&nbsp;&nbsp;$1228537240 |
| Verizon Communications, Inc. | 30217479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230757920 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2459295160 |
| **ENTERTAINMENT — 28.2%** | **ENTERTAINMENT — 28.2%** | **ENTERTAINMENT — 28.2%** |
| Electronic Arts, Inc. | &nbsp;&nbsp;5927406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211146868 |
| Live Nation Entertainment, Inc. (a) (b) | &nbsp;&nbsp;5506368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784657440 |
| Netflix, Inc. (a) | 15799575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1481368152 |
| Take-Two Interactive Software, Inc. (a) | &nbsp;&nbsp;4903192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255364248 |
| TKO Group Holdings, Inc. | &nbsp;&nbsp;2311868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483180412 |
| Walt Disney Co. | 11084108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1261038967 |
| Warner Bros Discovery, Inc. (a) | 40849387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177279333 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7654035420 |
| **INTERACTIVE MEDIA & SERVICES — 39.9%** | **INTERACTIVE MEDIA & SERVICES — 39.9%** | **INTERACTIVE MEDIA & SERVICES — 39.9%** |
| Alphabet, Inc. Class A | &nbsp;&nbsp;9221329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2886275977 |
| Alphabet, Inc. Class C | &nbsp;&nbsp;7370100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2312737380 |
| Match Group, Inc. | &nbsp;&nbsp;8232217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265818287 |
| Meta Platforms, Inc. Class A | &nbsp;&nbsp;8120632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5360347977 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10825179621 |
| **MEDIA — 18.1%** | **MEDIA — 18.1%** | **MEDIA — 18.1%** |
| Charter Communications, Inc. Class A (a) (b) | &nbsp;&nbsp;3068671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640585071 |
| Comcast Corp. Class A | 43737544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307315190 |
| Fox Corp. Class A | &nbsp;&nbsp;7266014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530927643 |
| Fox Corp. Class B | &nbsp;&nbsp;5175535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336047488 |
| News Corp. Class A | 13058944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341099617 |
| News Corp. Class B (b) | &nbsp;&nbsp;4304604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127545417 |
| Omnicom Group, Inc. | 11123453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898218830 |
| Paramount Skydance Corp. Class B (b) | 10837687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145225006 |
| Trade Desk, Inc. Class A (a) | 15354872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582870941 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4909835203 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **WIRELESS TELECOMMUNICATION SERVICES — 4.6%** | **WIRELESS TELECOMMUNICATION SERVICES — 4.6%** | **WIRELESS TELECOMMUNICATION SERVICES — 4.6%** |
| T-Mobile U.S., Inc. | &nbsp;&nbsp;&nbsp;6175950 | &nbsp;&nbsp;&nbsp;$1253964888 |
| **TOTAL COMMON STOCKS<br>(Cost $23,537,742,819)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;27102310292 |
| **SHORT-TERM INVESTMENTS — 0.7%** | **SHORT-TERM INVESTMENTS — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (c) (d) | &nbsp;&nbsp;23949178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23949178 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (e) (f) | 174781367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174781367 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $198,730,545)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $198,730,545)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198730545 |
| **TOTAL INVESTMENTS — 100.6%<br>(Cost $23,736,473,364)<br>** | **TOTAL INVESTMENTS — 100.6%<br>(Cost $23,736,473,364)<br>** | &nbsp;&nbsp;&nbsp;27301040837 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.6)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.6)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(153853785) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $27147187052 |

---

(a) Non-income producing security.

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

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

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

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

(f) Investment of cash collateral for securities loaned.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| E-mini S&P Communication Services Select Sector Index (long) | 301 | 03/20/2026 | $46166116 | $46655000 | $488884 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET COMMUNICATION SERVICES SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $27102310292 | $— | $— | $27102310292 |
| Short-Term Investments<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198730545 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198730545 |
| **TOTAL INVESTMENTS<br>**  | $27301040837 | $— | $— | $27301040837 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Appreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$488884 | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$488884 |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$488884 | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$488884 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/30/25** | **Value at<br>9/30/25** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| &nbsp;&nbsp;&nbsp;&nbsp;8039952 | &nbsp;&nbsp;&nbsp;$8039952 | &nbsp;&nbsp;$165250692 | &nbsp;&nbsp;$149341466 | $— | $— | &nbsp;&nbsp;23949178 | $23949178 | $339226 |
| State Street Navigator Securities Lending Portfolio II<br>| 421406591 | &nbsp;&nbsp;421406591 | &nbsp;&nbsp;2290035991 | &nbsp;&nbsp;2536661215 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 174781367 | &nbsp;&nbsp;174781367 | &nbsp;&nbsp;335647 |
| Total<br>|  | $429446543 | $2455286683 | $2686002681 | $— | $— |  | $198730545 | $674873 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET CONSUMER DISCRETIONARY SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** |
| **AUTO COMPONENTS — 0.4%** | **AUTO COMPONENTS — 0.4%** | **AUTO COMPONENTS — 0.4%** |
| Aptiv PLC (a) | &nbsp;&nbsp;1208694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$91969527 |
| **AUTOMOBILES — 23.7%** | **AUTOMOBILES — 23.7%** | **AUTOMOBILES — 23.7%** |
| Ford Motor Co. | 21892295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287226910 |
| General Motors Co. | &nbsp;&nbsp;5218284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424350855 |
| Tesla, Inc. (a) | 11241889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5055702321 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5767280086 |
| **BROADLINE RETAIL — 23.8%** | **BROADLINE RETAIL — 23.8%** | **BROADLINE RETAIL — 23.8%** |
| Amazon.com, Inc. (a) | 24215094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5589327997 |
| eBay, Inc. | &nbsp;&nbsp;2528441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220227211 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5809555208 |
| **DISTRIBUTORS — 0.6%** | **DISTRIBUTORS — 0.6%** | **DISTRIBUTORS — 0.6%** |
| Genuine Parts Co. | &nbsp;&nbsp;&nbsp;&nbsp;778186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95685751 |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;183366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41944972 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137630723 |
| **HOTELS, RESTAURANTS & LEISURE — 24.1%** | **HOTELS, RESTAURANTS & LEISURE — 24.1%** | **HOTELS, RESTAURANTS & LEISURE — 24.1%** |
| Airbnb, Inc. Class A (a) | &nbsp;&nbsp;2379023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322881002 |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;180298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965555288 |
| Carnival Corp. (a) | &nbsp;&nbsp;6073897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185496814 |
| Chipotle Mexican Grill, Inc. (a) | &nbsp;&nbsp;7396630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273675310 |
| Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;650608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119724884 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;173903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72486248 |
| DoorDash, Inc. Class A (a) | &nbsp;&nbsp;2091172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473608635 |
| Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;654499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185426112 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;1300230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373491068 |
| Las Vegas Sands Corp. | &nbsp;&nbsp;1701923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110778168 |
| Marriott International, Inc. Class A | &nbsp;&nbsp;1245902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386528637 |
| McDonald's Corp. | &nbsp;&nbsp;3536273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080791117 |
| MGM Resorts International (a) (b) | &nbsp;&nbsp;1147445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41870268 |
| Norwegian Cruise Line Holdings Ltd. (a) | &nbsp;&nbsp;2546625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56840670 |
| Royal Caribbean Cruises Ltd. (b) | &nbsp;&nbsp;1418749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395717471 |
| Starbucks Corp. | &nbsp;&nbsp;6359666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535547474 |
| Wynn Resorts Ltd. (b) | &nbsp;&nbsp;&nbsp;&nbsp;472273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56828610 |
| Yum! Brands, Inc. | &nbsp;&nbsp;1553173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234964011 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5872211787 |
| **HOUSEHOLD DURABLES — 3.2%** | **HOUSEHOLD DURABLES — 3.2%** | **HOUSEHOLD DURABLES — 3.2%** |
| DR Horton, Inc. | &nbsp;&nbsp;1531905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220640277 |
| Garmin Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;914498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185505919 |
| Lennar Corp. Class A | &nbsp;&nbsp;1206910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124070348 |
| NVR, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115874823 |
| PulteGroup, Inc. | &nbsp;&nbsp;1090318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127850689 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773942056 |
| **LEISURE PRODUCTS — 0.2%** | **LEISURE PRODUCTS — 0.2%** | **LEISURE PRODUCTS — 0.2%** |
| Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;745789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61154698 |
| **SPECIALTY RETAIL — 20.4%** | **SPECIALTY RETAIL — 20.4%** | **SPECIALTY RETAIL — 20.4%** |
| AutoZone, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315602816 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| Best Buy Co., Inc. | &nbsp;&nbsp;1093012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$73155293 |
| Carvana Co. (a) | &nbsp;&nbsp;&nbsp;&nbsp;791107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333862976 |
| Home Depot, Inc. | &nbsp;&nbsp;3982304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370310806 |
| Lowe's Cos., Inc. | &nbsp;&nbsp;3137176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756561364 |
| O'Reilly Automotive, Inc. (a) | &nbsp;&nbsp;4721767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430672368 |
| Ross Stores, Inc. | &nbsp;&nbsp;1819273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327723838 |
| TJX Cos., Inc. | &nbsp;&nbsp;6225620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956317488 |
| Tractor Supply Co. | &nbsp;&nbsp;2955777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147818408 |
| Ulta Beauty, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;250781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151725013 |
| Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;681276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121669081 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4985419451 |
| **TEXTILES, APPAREL & LUXURY GOODS — 3.5%** | **TEXTILES, APPAREL & LUXURY GOODS — 3.5%** | **TEXTILES, APPAREL & LUXURY GOODS — 3.5%** |
| Deckers Outdoor Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;815289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84521011 |
| Lululemon Athletica, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;603644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125443260 |
| NIKE, Inc. Class B | &nbsp;&nbsp;6652807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423850334 |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;216801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76663001 |
| Tapestry, Inc. | &nbsp;&nbsp;1144812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146272629 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856750235 |
| **TOTAL COMMON STOCKS<br>(Cost $22,594,300,278)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;24355913771 |
| **SHORT-TERM INVESTMENTS — 0.1%** | **SHORT-TERM INVESTMENTS — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (c) (d) | 14255063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14255063 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (e) (f) | 13713075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13713075 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $27,968,138)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $27,968,138)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27968138 |
| **TOTAL INVESTMENTS — 100.0%<br>(Cost $22,622,268,416)<br>** | **TOTAL INVESTMENTS — 100.0%<br>(Cost $22,622,268,416)<br>** | &nbsp;&nbsp;&nbsp;24383881909 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% <sup>\*</sup><br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% <sup>\*</sup><br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9347248) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $24374534661 |

---

(a) Non-income producing security.

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

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

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

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

(f) Investment of cash collateral for securities loaned.

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

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET CONSUMER DISCRETIONARY SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| E-mini S&P 500 Consumer Discretionary Select Sector Index (long) | 77 | 03/20/2026 | $18950724 | $18727170 | $(223554) |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $24355913771 | $— | $— | $24355913771 |
| Short-Term Investments<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27968138 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27968138 |
| **TOTAL INVESTMENTS<br>**  | $24383881909 | $— | $— | $24383881909 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(223554) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(223554) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(223554) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(223554) |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/30/25** | **Value at<br>9/30/25** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 17811377 | $17811377 | $86906523 | $90462837 | $— | $— | 14255063 | $14255063 | $187538 |
| State Street Navigator Securities Lending Portfolio II<br>| &nbsp;&nbsp;&nbsp;&nbsp;525683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525683 | &nbsp;&nbsp;199996004 | &nbsp;&nbsp;186808612 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 13713075 | &nbsp;&nbsp;13713075 | &nbsp;&nbsp;139302 |
| Total<br>|  | $18337060 | $286902527 | $277271449 | $— | $— |  | $27968138 | $326840 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET CONSUMER STAPLES SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.6%** | **COMMON STOCKS — 99.6%** | **COMMON STOCKS — 99.6%** |
| **BEVERAGES — 19.5%** | **BEVERAGES — 19.5%** | **BEVERAGES — 19.5%** |
| Brown-Forman Corp. Class B (a) | &nbsp;&nbsp;1772159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46182463 |
| Coca-Cola Co. | 13244690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925936278 |
| Constellation Brands, Inc. Class A | &nbsp;&nbsp;1418724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195727163 |
| Keurig Dr. Pepper, Inc. | 13672466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382965773 |
| Molson Coors Beverage Co. Class B | &nbsp;&nbsp;1703841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79535298 |
| Monster Beverage Corp. (b) | &nbsp;&nbsp;7177712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550315179 |
| PepsiCo, Inc. | &nbsp;&nbsp;4677817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671360296 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2852022450 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL — 32.1%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL — 32.1%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL — 32.1%** |
| Costco Wholesale Corp. | &nbsp;&nbsp;1516187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307468698 |
| Dollar General Corp. | &nbsp;&nbsp;2215091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294097632 |
| Dollar Tree, Inc. (a) (b) | &nbsp;&nbsp;1908989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234824737 |
| Kroger Co. | &nbsp;&nbsp;6135507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383346477 |
| Sysco Corp. | &nbsp;&nbsp;4819158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355123753 |
| Target Corp. | &nbsp;&nbsp;4572979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447008697 |
| Walmart, Inc. | 15001842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1671355217 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4693225211 |
| **FOOD PRODUCTS — 17.1%** | **FOOD PRODUCTS — 17.1%** | **FOOD PRODUCTS — 17.1%** |
| Archer-Daniels-Midland Co. (a) | &nbsp;&nbsp;4836363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278042509 |
| Bunge Global SA | &nbsp;&nbsp;1362165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121341658 |
| Campbell's Co. | &nbsp;&nbsp;1977362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55109079 |
| Conagra Brands, Inc. | &nbsp;&nbsp;4814040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83331032 |
| General Mills, Inc. (a) | &nbsp;&nbsp;5368151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249619022 |
| Hershey Co. | &nbsp;&nbsp;1491143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271358203 |
| Hormel Foods Corp. | &nbsp;&nbsp;2933586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69525988 |
| J.M. Smucker Co. | &nbsp;&nbsp;1073635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105012239 |
| Kraft Heinz Co. | &nbsp;&nbsp;8576670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207984248 |
| Lamb Weston Holdings, Inc. (a) | &nbsp;&nbsp;1402394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58746285 |
| McCormick & Co., Inc. | &nbsp;&nbsp;2548546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173581468 |
| Mondelez International, Inc. Class A | 12189982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656186731 |
| Tyson Foods, Inc. Class A | &nbsp;&nbsp;2848496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166978836 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2496817298 |
| **HOUSEHOLD PRODUCTS — 16.7%** | **HOUSEHOLD PRODUCTS — 16.7%** | **HOUSEHOLD PRODUCTS — 16.7%** |
| Church & Dwight Co., Inc. | &nbsp;&nbsp;2416576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202629898 |
| Clorox Co. | &nbsp;&nbsp;1227573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123776186 |
| Colgate-Palmolive Co. | &nbsp;&nbsp;8112064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641015297 |
| Kimberly-Clark Corp. (a) | &nbsp;&nbsp;3339741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336946469 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| Procter & Gamble Co. | &nbsp;&nbsp;7994241 | &nbsp;&nbsp;&nbsp;$1145654678 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2450022528 |
| **PERSONAL CARE PRODUCTS — 4.0%** | **PERSONAL CARE PRODUCTS — 4.0%** | **PERSONAL CARE PRODUCTS — 4.0%** |
| Estee Lauder Cos., Inc. Class A | &nbsp;&nbsp;2474223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259100633 |
| Kenvue, Inc. | 19280186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332583208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591683841 |
| **TOBACCO — 10.2%** | **TOBACCO — 10.2%** | **TOBACCO — 10.2%** |
| Altria Group, Inc. | 11193021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645389591 |
| Philip Morris International, Inc. | &nbsp;&nbsp;5325463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854204265 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499593856 |
| **TOTAL COMMON STOCKS<br>(Cost $17,589,560,669)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;14583365184 |
| **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (c) (d) | 11674229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11674229 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (e) (f) | 28231065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28231065 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $39,905,294)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $39,905,294)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39905294 |
| **TOTAL INVESTMENTS — 99.9%<br>(Cost $17,629,465,963)<br>** | **TOTAL INVESTMENTS — 99.9%<br>(Cost $17,629,465,963)<br>** | &nbsp;&nbsp;&nbsp;14623270478 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.1% <br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.1% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14032698 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $14637303176 |

---

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

(b) Non-income producing security.

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

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

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

(f) Investment of cash collateral for securities loaned.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| E-mini S&P 500 Consumer Staples Select Sector Index (long) | 711 | 03/20/2026 | $56752867 | $56140560 | $(612307) |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET CONSUMER STAPLES SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $14583365184 | $— | $— | $14583365184 |
| Short-Term Investments<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39905294 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39905294 |
| **TOTAL INVESTMENTS<br>**  | $14623270478 | $— | $— | $14623270478 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(612307) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(612307) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(612307) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(612307) |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/30/25** | **Value at<br>9/30/25** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| &nbsp;&nbsp;33628189 | $33628189 | &nbsp;&nbsp;$337150670 | &nbsp;&nbsp;$359104630 | $— | $— | 11674229 | $11674229 | $364924 |
| State Street Navigator Securities Lending Portfolio II<br>| 112045716 | &nbsp;&nbsp;112045716 | &nbsp;&nbsp;1140646674 | &nbsp;&nbsp;1224461325 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 28231065 | &nbsp;&nbsp;28231065 | &nbsp;&nbsp;&nbsp;&nbsp;62878 |
| Total<br>|  | $145673905 | $1477797344 | $1583565955 | $— | $— |  | $39905294 | $427802 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET ENERGY SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** |
| **ENERGY EQUIPMENT & SERVICES — 9.0%** | **ENERGY EQUIPMENT & SERVICES — 9.0%** | **ENERGY EQUIPMENT & SERVICES — 9.0%** |
| Baker Hughes Co. | 18612905 | &nbsp;&nbsp;&nbsp;&nbsp;$847631694 |
| Halliburton Co. | 15875003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448627585 |
| SLB Ltd. | 28178909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081506527 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2377765806 |
| **OIL, GAS & CONSUMABLE FUELS — 90.9%** | **OIL, GAS & CONSUMABLE FUELS — 90.9%** | **OIL, GAS & CONSUMABLE FUELS — 90.9%** |
| APA Corp. (a) | &nbsp;&nbsp;6689881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163634489 |
| Chevron Corp. | 30562428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4658019652 |
| ConocoPhillips | 19953645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1867860708 |
| Coterra Energy, Inc. | 14361346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377990627 |
| Devon Energy Corp. | 11832362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433419420 |
| Diamondback Energy, Inc. | &nbsp;&nbsp;3513021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528112447 |
| EOG Resources, Inc. | 10234648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074740386 |
| EQT Corp. | 11771311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630942270 |
| Expand Energy Corp. | &nbsp;&nbsp;4492397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495780933 |
| Exxon Mobil Corp. | 52125923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6272833574 |
| Kinder Morgan, Inc. | 36928504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015164575 |
| Marathon Petroleum Corp. | &nbsp;&nbsp;5670080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922125110 |
| Occidental Petroleum Corp. | 13565900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557829808 |
| ONEOK, Inc. | 11868794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872356359 |
| Phillips 66 Co. | &nbsp;&nbsp;7600007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980704903 |
| Targa Resources Corp. | &nbsp;&nbsp;4049015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747043268 |
| Texas Pacific Land Corp. (a) | &nbsp;&nbsp;1092159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313689908 |
| Valero Energy Corp. | &nbsp;&nbsp;5753162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936557242 |
| Williams Cos., Inc. | 20150995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211276309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;24060081988 |
| **TOTAL COMMON STOCKS<br>(Cost $27,906,242,942)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;26437847794 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 0.1%** | **SHORT-TERM INVESTMENTS — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (b) (c) | 25159449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25159449 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (d) (e) | &nbsp;&nbsp;6885000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6885000 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $32,044,449)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $32,044,449)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32044449 |
| **TOTAL INVESTMENTS — 100.0%<br>(Cost $27,938,287,391)<br>** | **TOTAL INVESTMENTS — 100.0%<br>(Cost $27,938,287,391)<br>** | &nbsp;&nbsp;&nbsp;26469892243 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0% <sup>\*</sup><br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0% <sup>\*</sup><br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3558197 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $26473450440 |

---

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

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

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

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

(e) Investment of cash collateral for securities loaned.

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| E-mini S&P 500 Energy Select Sector Index (long) | 405 | 03/20/2026 | $38643075 | $38179350 | $(463725) |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $26437847794 | $— | $— | $26437847794 |
| Short-Term Investments<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32044449 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32044449 |
| **TOTAL INVESTMENTS<br>**  | $26469892243 | $— | $— | $26469892243 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(463725) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(463725) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(463725) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(463725) |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET ENERGY SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/30/25** | **Value at<br>9/30/25** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 35465791 | $35465791 | $318045778 | $328352120 | $— | $— | 25159449 | $25159449 | $506968 |
| State Street Navigator Securities Lending Portfolio II<br>| 98112218 | &nbsp;&nbsp;&nbsp;&nbsp;98112218 | &nbsp;&nbsp;395305122 | &nbsp;&nbsp;486532340 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;6885000 | &nbsp;&nbsp;&nbsp;&nbsp;6885000 | &nbsp;&nbsp;&nbsp;&nbsp;19977 |
| Total<br>|  | $133578009 | $713350900 | $814884460 | $— | $— |  | $32044449 | $526945 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET FINANCIAL SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** |
| **BANKS — 27.2%** | **BANKS — 27.2%** | **BANKS — 27.2%** |
| Bank of America Corp. | 45511953 | &nbsp;&nbsp;&nbsp;$2503157415 |
| Citigroup, Inc. | 12121296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414434030 |
| Citizens Financial Group, Inc. | &nbsp;&nbsp;2909505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169944187 |
| Fifth Third Bancorp | &nbsp;&nbsp;4477873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209609235 |
| Huntington Bancshares, Inc. | 10650442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184785168 |
| JPMorgan Chase & Co. | 18441513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5942224319 |
| KeyCorp | &nbsp;&nbsp;6293186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129891359 |
| M&T Bank Corp. | &nbsp;&nbsp;1041189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209778760 |
| PNC Financial Services Group, Inc. | &nbsp;&nbsp;2656612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554514623 |
| Regions Financial Corp. | &nbsp;&nbsp;5940267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160981236 |
| Truist Financial Corp. | &nbsp;&nbsp;8665967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426452236 |
| U.S. Bancorp | 10530234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561893286 |
| Wells Fargo & Co. | 21265194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1981916081 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14449581935 |
| **CAPITAL MARKETS — 25.7%** | **CAPITAL MARKETS — 25.7%** | **CAPITAL MARKETS — 25.7%** |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;629348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308594498 |
| ARES Management Corp. Class A (a) | &nbsp;&nbsp;1395613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225572929 |
| Bank of New York Mellon Corp. | &nbsp;&nbsp;4724090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548419608 |
| Blackrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;977445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046198481 |
| Blackstone, Inc. | &nbsp;&nbsp;5002533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771090437 |
| Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;708860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177923860 |
| Charles Schwab Corp. | 11315320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130513621 |
| CME Group, Inc. | &nbsp;&nbsp;2442828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667087470 |
| Coinbase Global, Inc. Class A (a) (b) | &nbsp;&nbsp;1545668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349537362 |
| FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;253753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73636583 |
| Franklin Resources, Inc. (a) | &nbsp;&nbsp;2082237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49744642 |
| Goldman Sachs Group, Inc. | &nbsp;&nbsp;2031845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1785991755 |
| Interactive Brokers Group, Inc. Class A | &nbsp;&nbsp;3017108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194030216 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;3862601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625586858 |
| Invesco Ltd. | &nbsp;&nbsp;3015232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79210145 |
| KKR & Co., Inc. | &nbsp;&nbsp;4649542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592723614 |
| Moody's Corp. | &nbsp;&nbsp;1039344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530948882 |
| Morgan Stanley | &nbsp;&nbsp;8182481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452635852 |
| MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;509025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292042913 |
| Nasdaq, Inc. | &nbsp;&nbsp;3055824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296812185 |
| Northern Trust Corp. | &nbsp;&nbsp;1281114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174987361 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;1194390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191807090 |
| Robinhood Markets, Inc. Class A (b) | &nbsp;&nbsp;5326989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602482456 |
| S&P Global, Inc. | &nbsp;&nbsp;2100015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097446839 |
| State Street Corp. (c) | &nbsp;&nbsp;1892141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244105111 |
| T. Rowe Price Group, Inc. | &nbsp;&nbsp;1478355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151353985 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13660484753 |
| **CONSUMER FINANCE — 4.9%** | **CONSUMER FINANCE — 4.9%** | **CONSUMER FINANCE — 4.9%** |
| American Express Co. | &nbsp;&nbsp;3639903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1346582115 |
| Capital One Financial Corp. | &nbsp;&nbsp;4306656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043761148 |
| Synchrony Financial | &nbsp;&nbsp;2439968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203566530 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2593909793 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **FINANCIAL SERVICES — 28.9%** | **FINANCIAL SERVICES — 28.9%** | **FINANCIAL SERVICES — 28.9%** |
| Apollo Global Management, Inc. (a) | &nbsp;&nbsp;3145612 | &nbsp;&nbsp;&nbsp;&nbsp;$455358793 |
| Berkshire Hathaway, Inc. Class B (b) | 12422325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6244081661 |
| Block, Inc. (b) | &nbsp;&nbsp;3710032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241485983 |
| Corpay, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;473893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142608621 |
| Fidelity National Information Services, Inc. | &nbsp;&nbsp;3508055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233145335 |
| Fiserv, Inc. (b) | &nbsp;&nbsp;3643531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244735977 |
| Global Payments, Inc. | &nbsp;&nbsp;1603775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124132185 |
| Jack Henry & Associates, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;490346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89478338 |
| Mastercard, Inc. Class A | &nbsp;&nbsp;5554672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3171051152 |
| PayPal Holdings, Inc. | &nbsp;&nbsp;6338382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370034741 |
| Visa, Inc. Class A | 11432542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4009506805 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15325619591 |
| **INSURANCE — 13.2%** | **INSURANCE — 13.2%** | **INSURANCE — 13.2%** |
| Aflac, Inc. | &nbsp;&nbsp;3195522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352370211 |
| Allstate Corp. | &nbsp;&nbsp;1772655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368978138 |
| American International Group, Inc. | &nbsp;&nbsp;3655272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312708520 |
| Aon PLC Class A | &nbsp;&nbsp;1456058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513813747 |
| Arch Capital Group Ltd. (b) | &nbsp;&nbsp;2446169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234636531 |
| Arthur J Gallagher & Co. | &nbsp;&nbsp;1739694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450215410 |
| Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;339233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81704268 |
| Brown & Brown, Inc. | &nbsp;&nbsp;1989096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158530951 |
| Chubb Ltd. | &nbsp;&nbsp;2479438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773882189 |
| Cincinnati Financial Corp. | &nbsp;&nbsp;1056967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172623850 |
| Erie Indemnity Co. Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;172113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49336191 |
| Everest Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;284376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96502996 |
| Globe Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;539289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75424960 |
| Hartford Insurance Group, Inc. | &nbsp;&nbsp;1887682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260122580 |
| Loews Corp. | &nbsp;&nbsp;1147996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120895459 |
| Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;3318762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615696726 |
| MetLife, Inc. | &nbsp;&nbsp;3749419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295979136 |
| Principal Financial Group, Inc. | &nbsp;&nbsp;1354340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119466331 |
| Progressive Corp. | &nbsp;&nbsp;3972428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904601304 |
| Prudential Financial, Inc. | &nbsp;&nbsp;2370984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267636674 |
| Travelers Cos., Inc. | &nbsp;&nbsp;1511124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438316627 |
| W.R. Berkley Corp. | &nbsp;&nbsp;2033799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142609986 |
| Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;648617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213135546 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7019188331 |
| **TOTAL COMMON STOCKS<br>(Cost $51,354,570,266)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;53048784403 |
| **SHORT-TERM INVESTMENTS — 0.2%** | **SHORT-TERM INVESTMENTS — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (d) (e) | 73043158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73043158 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET FINANCIAL SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (c) (f) | 45788575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45788575 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $118,831,733)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $118,831,733)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118831733 |
| **TOTAL INVESTMENTS — 100.1%<br>(Cost $51,473,401,999)<br>** | **TOTAL INVESTMENTS — 100.1%<br>(Cost $51,473,401,999)<br>** | &nbsp;&nbsp;&nbsp;53167616136 |
| **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;(30749609) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $53136866527 |

---

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

(b) Non-income producing security.

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

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

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

(f) Investment of cash collateral for securities loaned.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| E-mini S&P 500 Financial Select Sector Index (long) | 375 | 03/20/2026 | $63839825 | $63659062 | $(180763) |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $53048784403 | $— | $— | $53048784403 |
| Short-Term Investments<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118831733 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118831733 |
| **TOTAL INVESTMENTS<br>**  | $53167616136 | $— | $— | $53167616136 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(180763) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(180763) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(180763) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(180763) |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/30/25** | **Value at<br>9/30/25** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Corp.<br>| &nbsp;&nbsp;1985828 | $230375906 | $52076936 | $63211836 | $11008269 | $13855836 | &nbsp;&nbsp;1892141 | $244105111 | $1668096 |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 53803360 | &nbsp;&nbsp;&nbsp;&nbsp;53803360 | &nbsp;&nbsp;367071063 | &nbsp;&nbsp;347831265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 73043158 | &nbsp;&nbsp;&nbsp;&nbsp;73043158 | &nbsp;&nbsp;&nbsp;&nbsp;405327 |
| State Street Navigator Securities Lending Portfolio II<br>| 57778429 | &nbsp;&nbsp;&nbsp;&nbsp;57778429 | &nbsp;&nbsp;248187622 | &nbsp;&nbsp;260177476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 45788575 | &nbsp;&nbsp;&nbsp;&nbsp;45788575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9697 |
| Total<br>|  | $341957695 | $667335621 | $671220577 | $11008269 | $13855836 |  | $362936844 | $2083120 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET HEALTH CARE SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.8%** | **COMMON STOCKS — 99.8%** | **COMMON STOCKS — 99.8%** |
| **BIOTECHNOLOGY — 17.4%** | **BIOTECHNOLOGY — 17.4%** | **BIOTECHNOLOGY — 17.4%** |
| AbbVie, Inc. | 12487434 | &nbsp;&nbsp;&nbsp;$2853253795 |
| Amgen, Inc. | &nbsp;&nbsp;3804636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245295409 |
| Biogen, Inc. (a) | &nbsp;&nbsp;1036511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182415571 |
| Gilead Sciences, Inc. | &nbsp;&nbsp;8766030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075942522 |
| Incyte Corp. (a) | &nbsp;&nbsp;1165212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115087989 |
| Moderna, Inc. (a) (b) | &nbsp;&nbsp;2456674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72447316 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;712077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549630874 |
| Vertex Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;1792669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812724418 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6906797894 |
| **HEALTH CARE EQUIPMENT & SUPPLIES — 21.2%** | **HEALTH CARE EQUIPMENT & SUPPLIES — 21.2%** | **HEALTH CARE EQUIPMENT & SUPPLIES — 21.2%** |
| Abbott Laboratories | 12285958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539307678 |
| Align Technology, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;471461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73618635 |
| Baxter International, Inc. (b) | &nbsp;&nbsp;3632050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69408476 |
| Becton Dickinson & Co. | &nbsp;&nbsp;2025138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393018532 |
| Boston Scientific Corp. (a) | 10474165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998711633 |
| Cooper Cos., Inc. (a) | &nbsp;&nbsp;1404731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115131753 |
| Dexcom, Inc. (a) | &nbsp;&nbsp;2755621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182890566 |
| Edwards Lifesciences Corp. (a) | &nbsp;&nbsp;4100155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349538214 |
| GE HealthCare Technologies, Inc. | &nbsp;&nbsp;3218465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263978499 |
| Hologic, Inc. (a) | &nbsp;&nbsp;1572598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117142825 |
| IDEXX Laboratories, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;564182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381686048 |
| Insulet Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;497022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141273533 |
| Intuitive Surgical, Inc. (a) | &nbsp;&nbsp;2504711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418568122 |
| Medtronic PLC | &nbsp;&nbsp;9062255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870520215 |
| ResMed, Inc. (b) | &nbsp;&nbsp;1031304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248410195 |
| Solventum Corp. (a) | &nbsp;&nbsp;1041637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82539316 |
| STERIS PLC | &nbsp;&nbsp;&nbsp;&nbsp;693495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175814852 |
| Stryker Corp. | &nbsp;&nbsp;2431826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854713884 |
| Zimmer Biomet Holdings, Inc. (b) | &nbsp;&nbsp;1400271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125912368 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8402185344 |
| **HEALTH CARE PROVIDERS & SERVICES — 17.2%** | **HEALTH CARE PROVIDERS & SERVICES — 17.2%** | **HEALTH CARE PROVIDERS & SERVICES — 17.2%** |
| Cardinal Health, Inc. | &nbsp;&nbsp;1678703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344973466 |
| Cencora, Inc. | &nbsp;&nbsp;1369821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462657043 |
| Centene Corp. (a) | &nbsp;&nbsp;3299209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135762450 |
| Cigna Group | &nbsp;&nbsp;1887382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519464148 |
| CVS Health Corp. | &nbsp;&nbsp;8969140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711790950 |
| DaVita, Inc. (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;249450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28340015 |
| Elevance Health, Inc. | &nbsp;&nbsp;1570232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550444828 |
| HCA Healthcare, Inc. | &nbsp;&nbsp;1128582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526889793 |
| Henry Schein, Inc. (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;706981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53433624 |
| Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;849793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217657481 |
| Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;585737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146949699 |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;872096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715371628 |
| Molina Healthcare, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;363158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63022439 |
| Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;785991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136393018 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;6400172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2112760779 |
| Universal Health Services, Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;390305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85094296 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6811005657 |
| **LIFE SCIENCES TOOLS & SERVICES — 9.6%** | **LIFE SCIENCES TOOLS & SERVICES — 9.6%** | **LIFE SCIENCES TOOLS & SERVICES — 9.6%** |
| Agilent Technologies, Inc. | &nbsp;&nbsp;2003065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272557055 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| Bio-Techne Corp. (b) | &nbsp;&nbsp;&nbsp;1100946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$64746634 |
| Charles River Laboratories International, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69355605 |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;4441768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016809531 |
| IQVIA Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;1203280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271231345 |
| Mettler-Toledo International, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201234596 |
| Revvity, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77499169 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;2654543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1538174941 |
| Waters Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159774730 |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139855313 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3811238919 |
| **PHARMACEUTICALS — 34.4%** | **PHARMACEUTICALS — 34.4%** | **PHARMACEUTICALS — 34.4%** |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp;14383624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775852679 |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;5610869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6029888697 |
| Johnson & Johnson | &nbsp;&nbsp;17022835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3522875703 |
| Merck & Co., Inc. | &nbsp;&nbsp;17536744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1845917673 |
| Pfizer, Inc. | &nbsp;&nbsp;40172320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000290768 |
| Viatris, Inc. | &nbsp;&nbsp;&nbsp;8137824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101315909 |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;3113748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391771773 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13667913202 |
| **TOTAL COMMON STOCKS<br>(Cost $42,598,750,420)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;39599141016 |
| **SHORT-TERM INVESTMENTS — 0.4%** | **SHORT-TERM INVESTMENTS — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (c) (d) | &nbsp;&nbsp;70475678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70475678 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (e) (f) | 108817159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108817159 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $179,292,837)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $179,292,837)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179292837 |
| **TOTAL INVESTMENTS — 100.2%<br>(Cost $42,778,043,257)<br>** | **TOTAL INVESTMENTS — 100.2%<br>(Cost $42,778,043,257)<br>** | &nbsp;&nbsp;&nbsp;39778433853 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.2)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.2)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81671767) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $39696762086 |

---

(a) Non-income producing security.

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

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

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

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

(f) Investment of cash collateral for securities loaned.

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET HEALTH CARE SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| E-mini S&P 500 Health Care Select Sector Index (long) | 575 | 03/20/2026 | $90003777 | $90539500 | $535723 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $39599141016 | $— | $— | $39599141016 |
| Short-Term Investments<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179292837 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179292837 |
| **TOTAL INVESTMENTS<br>**  | $39778433853 | $— | $— | $39778433853 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Appreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$535723 | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$535723 |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$535723 | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$535723 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/30/25** | **Value at<br>9/30/25** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 25290125 | $25290125 | $336016844 | $290831291 | $— | $— | &nbsp;&nbsp;70475678 | $70475678 | $502135 |
| State Street Navigator Securities Lending Portfolio II<br>| 33104718 | &nbsp;&nbsp;33104718 | &nbsp;&nbsp;637537453 | &nbsp;&nbsp;561825012 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 108817159 | &nbsp;&nbsp;108817159 | &nbsp;&nbsp;&nbsp;&nbsp;70957 |
| Total<br>|  | $58394843 | $973554297 | $852656303 | $— | $— |  | $179292837 | $573092 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET INDUSTRIAL SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** |
| **AEROSPACE & DEFENSE — 27.0%** | **AEROSPACE & DEFENSE — 27.0%** | **AEROSPACE & DEFENSE — 27.0%** |
| Axon Enterprise, Inc. (a) | &nbsp;&nbsp;422840 | &nbsp;&nbsp;&nbsp;&nbsp;$240143521 |
| Boeing Co. (a) | 4192170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910203950 |
| General Dynamics Corp. | 1357350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456965451 |
| General Electric Co. (b) | 5647164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1739495927 |
| Howmet Aerospace, Inc. | 2152558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441317441 |
| Huntington Ingalls Industries, Inc. (b) | &nbsp;&nbsp;210068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71437825 |
| L3Harris Technologies, Inc. | 1001427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293988924 |
| Lockheed Martin Corp. | 1090158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527276720 |
| Northrop Grumman Corp. | &nbsp;&nbsp;718244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409549911 |
| RTX Corp. | 7178126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1316468309 |
| Textron, Inc. (b) | &nbsp;&nbsp;943501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82244982 |
| TransDigm Group, Inc. | &nbsp;&nbsp;301517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400972383 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6890065344 |
| **AIR FREIGHT & LOGISTICS — 3.7%** | **AIR FREIGHT & LOGISTICS — 3.7%** | **AIR FREIGHT & LOGISTICS — 3.7%** |
| CH Robinson Worldwide, Inc. (b) | &nbsp;&nbsp;632490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101679093 |
| Expeditors International of Washington, Inc. (b) | &nbsp;&nbsp;717531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106919294 |
| FedEx Corp. | 1162169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335704137 |
| United Parcel Service, Inc. Class B | 3956378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392433134 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936735658 |
| **AIRLINES — 2.1%** | **AIRLINES — 2.1%** | **AIRLINES — 2.1%** |
| Delta Air Lines, Inc. | 3472634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241000799 |
| Southwest Airlines Co. (b) | 2768687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114429834 |
| United Airlines Holdings, Inc. (a) (b) | 1733229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193809667 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549240300 |
| **BUILDING PRODUCTS — 5.5%** | **BUILDING PRODUCTS — 5.5%** | **BUILDING PRODUCTS — 5.5%** |
| A.O. Smith Corp. (b) | &nbsp;&nbsp;606975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40594488 |
| Allegion PLC | &nbsp;&nbsp;462353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73615845 |
| Builders FirstSource, Inc. (a) | &nbsp;&nbsp;592040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60914996 |
| Carrier Global Corp. | 4238453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223959856 |
| Johnson Controls International PLC | 3271841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391802960 |
| Lennox International, Inc. (b) | &nbsp;&nbsp;170860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82966199 |
| Masco Corp. (b) | 1111969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70565553 |
| Trane Technologies PLC | 1187138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462034109 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1406454006 |
| **COMMERCIAL SERVICES & SUPPLIES — 5.6%** | **COMMERCIAL SERVICES & SUPPLIES — 5.6%** | **COMMERCIAL SERVICES & SUPPLIES — 5.6%** |
| Cintas Corp. | 1828774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343937526 |
| Copart, Inc. (a) (b) | 4766991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186627698 |
| Republic Services, Inc. | 1077276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228307103 |
| Rollins, Inc. | 1571306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94309786 |
| Veralto Corp. | 1329280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132635558 |
| Waste Management, Inc. | 1984280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435966159 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421783830 |
| **CONSTRUCTION & ENGINEERING — 2.6%** | **CONSTRUCTION & ENGINEERING — 2.6%** | **CONSTRUCTION & ENGINEERING — 2.6%** |
| Comfort Systems USA, Inc. | &nbsp;&nbsp;188421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175851435 |
| EMCOR Group, Inc. | &nbsp;&nbsp;239664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146624039 |
| Quanta Services, Inc. | &nbsp;&nbsp;798306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336933030 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659408504 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **ELECTRICAL EQUIPMENT — 10.4%** | **ELECTRICAL EQUIPMENT — 10.4%** | **ELECTRICAL EQUIPMENT — 10.4%** |
| AMETEK, Inc. | &nbsp;&nbsp;1232468 | &nbsp;&nbsp;&nbsp;&nbsp;$253038005 |
| Eaton Corp. PLC | &nbsp;&nbsp;2079368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662299502 |
| Emerson Electric Co. (b) | &nbsp;&nbsp;3007707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399182873 |
| GE Vernova, Inc. | &nbsp;&nbsp;1452564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949352254 |
| Generac Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;314176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42844181 |
| Hubbell, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;284521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126358621 |
| Rockwell Automation, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;601104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233871533 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2666946969 |
| **GROUND TRANSPORTATION — 10.1%** | **GROUND TRANSPORTATION — 10.1%** | **GROUND TRANSPORTATION — 10.1%** |
| CSX Corp. | &nbsp;&nbsp;9969372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361389735 |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;402683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78257414 |
| Norfolk Southern Corp. | &nbsp;&nbsp;1201297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346838470 |
| Old Dominion Freight Line, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;985089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154461955 |
| Uber Technologies, Inc. (a) | 11124107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908950783 |
| Union Pacific Corp. | &nbsp;&nbsp;3175618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734583956 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2584482313 |
| **INDUSTRIAL CONGLOMERATES — 4.4%** | **INDUSTRIAL CONGLOMERATES — 4.4%** | **INDUSTRIAL CONGLOMERATES — 4.4%** |
| 3M Co. | &nbsp;&nbsp;2844055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455333206 |
| Honeywell International, Inc. | &nbsp;&nbsp;3399014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663113641 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1118446847 |
| **MACHINERY — 19.6%** | **MACHINERY — 19.6%** | **MACHINERY — 19.6%** |
| Caterpillar, Inc. | &nbsp;&nbsp;2505428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435284538 |
| Cummins, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;739003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377224081 |
| Deere & Co. | &nbsp;&nbsp;1345946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626632079 |
| Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;734265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143357898 |
| Fortive Corp. (b) | &nbsp;&nbsp;1700365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93877152 |
| IDEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;400743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71308209 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp;1413346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348107120 |
| Ingersoll Rand, Inc. (b) | &nbsp;&nbsp;1924911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152491449 |
| Nordson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;285723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68696381 |
| Otis Worldwide Corp. | &nbsp;&nbsp;2086400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182247040 |
| PACCAR, Inc. | &nbsp;&nbsp;2811819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307922299 |
| Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;675577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593805160 |
| Pentair PLC | &nbsp;&nbsp;&nbsp;&nbsp;876116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91238720 |
| Snap-on, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;278456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95955938 |
| Stanley Black & Decker, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;829253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61596913 |
| Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;915266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195363528 |
| Xylem, Inc. (b) | &nbsp;&nbsp;1303460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177505183 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5022613688 |
| **PROFESSIONAL SERVICES — 5.9%** | **PROFESSIONAL SERVICES — 5.9%** | **PROFESSIONAL SERVICES — 5.9%** |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;2165297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556979347 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;624894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139457594 |
| Dayforce, Inc. (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;856764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59253798 |
| Equifax, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;655248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142175711 |
| Jacobs Solutions, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;639930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84765128 |
| Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;684461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123476764 |
| Paychex, Inc. (b) | &nbsp;&nbsp;1734081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194529207 |
| Paycom Software, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;261614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41690807 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET INDUSTRIAL SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| Verisk Analytics, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746161 | &nbsp;&nbsp;&nbsp;&nbsp;$166908754 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509237110 |
| **TRADING COMPANIES & DISTRIBUTORS — 3.0%** | **TRADING COMPANIES & DISTRIBUTORS — 3.0%** | **TRADING COMPANIES & DISTRIBUTORS — 3.0%** |
| Fastenal Co. (b) | &nbsp;&nbsp;&nbsp;6146223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246647929 |
| United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275684337 |
| WW Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236296302 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758628568 |
| **TOTAL COMMON STOCKS<br>(Cost $24,784,411,810)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;25524043137 |
| **SHORT-TERM INVESTMENTS — 0.7%** | **SHORT-TERM INVESTMENTS — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (c) (d) | &nbsp;&nbsp;12456745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12456745 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (e) (f) | 180178327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180178327 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $192,635,072)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $192,635,072)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192635072 |
| **TOTAL INVESTMENTS — 100.6%<br>(Cost $24,977,046,882)<br>** | **TOTAL INVESTMENTS — 100.6%<br>(Cost $24,977,046,882)<br>** | &nbsp;&nbsp;&nbsp;25716678209 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.6)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.6)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163277140) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $25553401069 |

---

(a) Non-income producing security.

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

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

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

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

(f) Investment of cash collateral for securities loaned.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| E-mini S&P 500 Industrial Select Sector Index (long) | 150 | 03/20/2026 | $23911500 | $23632500 | $(279000) |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $25524043137 | $— | $— | $25524043137 |
| Short-Term Investments<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192635072 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192635072 |
| **TOTAL INVESTMENTS<br>**  | $25716678209 | $— | $— | $25716678209 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(279000) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(279000) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(279000) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(279000) |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET INDUSTRIAL SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/30/25** | **Value at<br>9/30/25** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 16080176 | $16080176 | &nbsp;&nbsp;$138782896 | $142406327 | $— | $— | &nbsp;&nbsp;12456745 | $12456745 | $119308 |
| State Street Navigator Securities Lending Portfolio II<br>| 31150393 | &nbsp;&nbsp;31150393 | &nbsp;&nbsp;&nbsp;&nbsp;872453217 | &nbsp;&nbsp;723425283 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 180178327 | &nbsp;&nbsp;180178327 | &nbsp;&nbsp;&nbsp;&nbsp;28498 |
| Total<br>|  | $47230569 | $1011236113 | $865831610 | $— | $— |  | $192635072 | $147806 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET MATERIALS SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.8%** | **COMMON STOCKS — 99.8%** | **COMMON STOCKS — 99.8%** |
| **CHEMICALS — 49.9%** | **CHEMICALS — 49.9%** | **CHEMICALS — 49.9%** |
| Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;984821 | &nbsp;&nbsp;&nbsp;&nbsp;$243270483 |
| Albemarle Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;892397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126220632 |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;1182553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91458649 |
| Corteva, Inc. | &nbsp;&nbsp;3580988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240033626 |
| Dow, Inc. | &nbsp;&nbsp;5388884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125992108 |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;3176585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127698717 |
| Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;942547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247437439 |
| International Flavors & Fragrances, Inc. (a) | &nbsp;&nbsp;1941674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130849411 |
| Linde PLC | &nbsp;&nbsp;1726551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736184081 |
| LyondellBasell Industries NV Class A (a) | &nbsp;&nbsp;1952278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84533637 |
| Mosaic Co. | &nbsp;&nbsp;2406489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57972320 |
| PPG Industries, Inc. | &nbsp;&nbsp;1701318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174317042 |
| Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;852409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276206088 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2662174233 |
| **CONSTRUCTION MATERIALS — 14.4%** | **CONSTRUCTION MATERIALS — 14.4%** | **CONSTRUCTION MATERIALS — 14.4%** |
| CRH PLC | &nbsp;&nbsp;2478295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309291216 |
| Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;373954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232846198 |
| Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;785533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224049722 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766187136 |
| **CONTAINERS & PACKAGING — 15.2%** | **CONTAINERS & PACKAGING — 15.2%** | **CONTAINERS & PACKAGING — 15.2%** |
| Amcor PLC | 17501546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145962894 |
| Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;586047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106590228 |
| Ball Corp. | &nbsp;&nbsp;2031875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107628419 |
| International Paper Co. (a) | &nbsp;&nbsp;4003484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157697235 |
| Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;677580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139737323 |
| Smurfit WestRock PLC | &nbsp;&nbsp;3959147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153100214 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810716313 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **METALS & MINING — 20.3%** | **METALS & MINING — 20.3%** | **METALS & MINING — 20.3%** |
| Freeport-McMoRan, Inc. | 5309340 | &nbsp;&nbsp;&nbsp;&nbsp;$269661379 |
| Newmont Corp. | 4034913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402886063 |
| Nucor Corp. | 1418621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231391271 |
| Steel Dynamics, Inc. | 1040795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176362713 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080301426 |
| **TOTAL COMMON STOCKS<br>(Cost $5,901,629,425)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5319379108 |
| **SHORT-TERM INVESTMENT — 0.1%** | **SHORT-TERM INVESTMENT — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (b) (c)<br>(Cost $6,336,016) | 6336016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6336016 |
| **TOTAL INVESTMENTS — 99.9%<br>(Cost $5,907,965,441)<br>** | **TOTAL INVESTMENTS — 99.9%<br>(Cost $5,907,965,441)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;5325715124 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.1% <br>** | **OTHER ASSETS IN EXCESS OF LIABILITIES — 0.1% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2668114 |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | &nbsp;&nbsp;&nbsp;$5328383238 |

---

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

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

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| E-mini S&P 500 Material Select Sector Index (long) | 90 | 03/20/2026 | $8658747 | $8717400 | $58653 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET MATERIALS SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $5319379108 | $— | $— | $5319379108 |
| Short-Term Investment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6336016 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6336016 |
| **TOTAL INVESTMENTS<br>**  | $5325715124 | $— | $— | $5325715124 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Appreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$58653 | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$58653 |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$58653 | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$58653 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/30/25** | **Value at<br>9/30/25** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 5981756 | $5981756 | $71292697 | $70938437 | $— | $— | 6336016 | $6336016 | $67039 |
| State Street Navigator Securities Lending Portfolio II<br>| 4064245 | &nbsp;&nbsp;&nbsp;&nbsp;4064245 | &nbsp;&nbsp;358291500 | &nbsp;&nbsp;362355745 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;16542 |
| Total<br>|  | $10046001 | $429584197 | $433294182 | $— | $— |  | $6336016 | $83581 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET REAL ESTATE SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** |
| **HEALTH CARE REITs — 16.0%** | **HEALTH CARE REITs — 16.0%** | **HEALTH CARE REITs — 16.0%** |
| Alexandria Real Estate Equities, Inc. REIT | 1249855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$61167904 |
| Healthpeak Properties, Inc. REIT | 5596721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89995274 |
| Ventas, Inc. REIT | 3781920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292644969 |
| Welltower, Inc. REIT | 3963733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735708482 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179516629 |
| **HOTEL & RESORT REITs — 1.2%** | **HOTEL & RESORT REITs — 1.2%** | **HOTEL & RESORT REITs — 1.2%** |
| Host Hotels & Resorts, Inc. REIT | 5150460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91317656 |
| **INDUSTRIAL REITs — 9.3%** | **INDUSTRIAL REITs — 9.3%** | **INDUSTRIAL REITs — 9.3%** |
| Prologis, Inc. REIT | 5364480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684829517 |
| **OFFICE REITs — 1.1%** | **OFFICE REITs — 1.1%** | **OFFICE REITs — 1.1%** |
| BXP, Inc. REIT (a) | 1186927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80093834 |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT — 7.7%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT — 7.7%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT — 7.7%** |
| CBRE Group, Inc. Class A (b) | 2105402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338527588 |
| CoStar Group, Inc. (b) | 3412423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229451322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567978910 |
| **RESIDENTIAL REITs — 13.0%** | **RESIDENTIAL REITs — 13.0%** | **RESIDENTIAL REITs — 13.0%** |
| AvalonBay Communities, Inc. REIT | 1138680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206454071 |
| Camden Property Trust REIT | &nbsp;&nbsp;856855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94322598 |
| Equity Residential REIT | 2784927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175561798 |
| Essex Property Trust, Inc. REIT | &nbsp;&nbsp;518045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135562015 |
| Invitation Homes, Inc. REIT | 4536792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126077450 |
| Mid-America Apartment Communities, Inc. REIT | &nbsp;&nbsp;941837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130830578 |
| UDR, Inc. REIT | 2421982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88838300 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957646810 |
| **RETAIL REITs — 12.8%** | **RETAIL REITs — 12.8%** | **RETAIL REITs — 12.8%** |
| Federal Realty Investment Trust REIT | &nbsp;&nbsp;630802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63584841 |
| Kimco Realty Corp. REIT | 5453351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110539425 |
| Realty Income Corp. REIT | 5820001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328073456 |
| Regency Centers Corp. REIT | 1325698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91512933 |
| Simon Property Group, Inc. REIT | 1885546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349033420 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942744075 |
| **SPECIALIZED REITs — 38.4%** | **SPECIALIZED REITs — 38.4%** | **SPECIALIZED REITs — 38.4%** |
| American Tower Corp. REIT | 2703755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474698265 |
| Crown Castle, Inc. REIT | 3506078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311585152 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| Digital Realty Trust, Inc. REIT | &nbsp;&nbsp;2067747 | &nbsp;&nbsp;&nbsp;&nbsp;$319901138 |
| Equinix, Inc. REIT | &nbsp;&nbsp;&nbsp;&nbsp;567051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434451794 |
| Extra Space Storage, Inc. REIT | &nbsp;&nbsp;1708898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222532698 |
| Iron Mountain, Inc. REIT | &nbsp;&nbsp;2379944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197416355 |
| Public Storage REIT | &nbsp;&nbsp;1232419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319812731 |
| SBA Communications Corp. REIT | &nbsp;&nbsp;&nbsp;&nbsp;857000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165769510 |
| VICI Properties, Inc. REIT | &nbsp;&nbsp;8605369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241982976 |
| Weyerhaeuser Co. REIT | &nbsp;&nbsp;5798581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137368384 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2825519003 |
| **TOTAL COMMON STOCKS<br>(Cost $8,295,920,477)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7329646434 |
| **SHORT-TERM INVESTMENTS — 1.0%** | **SHORT-TERM INVESTMENTS — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (c) (d) | 17104468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17104468 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (e) (f) | 52789122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52789122 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $69,893,590)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $69,893,590)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69893590 |
| **TOTAL INVESTMENTS — 100.5%<br>(Cost $8,365,814,067)<br>** | **TOTAL INVESTMENTS — 100.5%<br>(Cost $8,365,814,067)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;7399540024 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.5)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.5)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33692359) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | &nbsp;&nbsp;&nbsp;$7365847665 |

---

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

(b) Non-income producing security.

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

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

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

(f) Investment of cash collateral for securities loaned.

Abbreviations: <br> REIT Real Estate Investment Trust

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| E-mini S&P 500 Real Estate Select Sector Index (long) | 709 | 03/20/2026 | $35414675 | $35317063 | $(97612) |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET REAL ESTATE SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $7329646434 | $— | $— | $7329646434 |
| Short-Term Investments<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69893590 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69893590 |
| **TOTAL INVESTMENTS<br>**  | $7399540024 | $— | $— | $7399540024 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(97612) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(97612) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(97612) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(97612) |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/30/25** | **Value at<br>9/30/25** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| 17493518 | $17493518 | $127809150 | $128198200 | $— | $— | 17104468 | $17104468 | $100590 |
| State Street Navigator Securities Lending Portfolio II<br>| 40613881 | &nbsp;&nbsp;40613881 | &nbsp;&nbsp;&nbsp;&nbsp;49204984 | &nbsp;&nbsp;&nbsp;&nbsp;37029743 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 52789122 | &nbsp;&nbsp;52789122 | &nbsp;&nbsp;&nbsp;&nbsp;3552 |
| Total<br>|  | $58107399 | $177014134 | $165227943 | $— | $— |  | $69893590 | $104142 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** |
| **COMMUNICATIONS EQUIPMENT — 4.5%** | **COMMUNICATIONS EQUIPMENT — 4.5%** | **COMMUNICATIONS EQUIPMENT — 4.5%** |
| Arista Networks, Inc. (a) | &nbsp;&nbsp;8193233 | &nbsp;&nbsp;&nbsp;$1073559320 |
| Cisco Systems, Inc. | 31267512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2408536449 |
| F5, Inc. (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;457671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116825100 |
| Motorola Solutions, Inc. | &nbsp;&nbsp;1321541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506573096 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4105493965 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.7%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.7%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.7%** |
| Amphenol Corp. Class A | &nbsp;&nbsp;9712325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1312523601 |
| CDW Corp. | &nbsp;&nbsp;1032960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140689152 |
| Corning, Inc. | &nbsp;&nbsp;6190470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542037553 |
| Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;847723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193297798 |
| Keysight Technologies, Inc. (a) | &nbsp;&nbsp;1363558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277061350 |
| TE Connectivity PLC | &nbsp;&nbsp;2334252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531065673 |
| Teledyne Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;372560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190277569 |
| Trimble, Inc. (a) | &nbsp;&nbsp;1887765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147906388 |
| Zebra Technologies Corp. Class A (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;402026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97619953 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3432479037 |
| **IT SERVICES — 4.8%** | **IT SERVICES — 4.8%** | **IT SERVICES — 4.8%** |
| Accenture PLC Class A | &nbsp;&nbsp;4920444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1320155125 |
| Akamai Technologies, Inc. (a) | &nbsp;&nbsp;1141562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99601284 |
| Cognizant Technology Solutions Corp. Class A | &nbsp;&nbsp;3829591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317856053 |
| EPAM Systems, Inc. (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;438356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89810377 |
| Gartner, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;571843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144264552 |
| GoDaddy, Inc. Class A (a) | &nbsp;&nbsp;1072250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133044780 |
| International Business Machines Corp. | &nbsp;&nbsp;7416614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2196875233 |
| VeriSign, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;661929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160815651 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4462423055 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 38.6%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 38.6%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 38.6%** |
| Advanced Micro Devices, Inc. (a) | 12917695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2766453561 |
| Analog Devices, Inc. | &nbsp;&nbsp;3903436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058611843 |
| Applied Materials, Inc. | &nbsp;&nbsp;6321019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1624438673 |
| Broadcom, Inc. | 14356462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4968771498 |
| First Solar, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;851451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222424545 |
| Intel Corp. (a) | 35576630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1312777647 |
| KLA Corp. | &nbsp;&nbsp;1042534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266762213 |
| Lam Research Corp. | &nbsp;&nbsp;9965925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1705967042 |
| Microchip Technology, Inc. | &nbsp;&nbsp;4288130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273239644 |
| Micron Technology, Inc. | &nbsp;&nbsp;8906259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541935381 |
| Monolithic Power Systems, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;380089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344497466 |
| NVIDIA Corp. | 73874749 | &nbsp;&nbsp;&nbsp;&nbsp;13777640688 |
| NXP Semiconductors NV | &nbsp;&nbsp;1996880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433442773 |
| ON Semiconductor Corp. (a) | &nbsp;&nbsp;3192599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172879236 |
| Qnity Electronics, Inc. Class W/I | &nbsp;&nbsp;1661776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135684010 |
| QUALCOMM, Inc. | &nbsp;&nbsp;8497848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1453556900 |
| Skyworks Solutions, Inc. | &nbsp;&nbsp;1179721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74806109 |
| Teradyne, Inc. (b) | &nbsp;&nbsp;1242565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240510881 |
| Texas Instruments, Inc. | &nbsp;&nbsp;7209422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250762623 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;35625162733 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **SOFTWARE — 32.7%** | **SOFTWARE — 32.7%** | **SOFTWARE — 32.7%** |
| Adobe, Inc. (a) | &nbsp;&nbsp;3321366 | &nbsp;&nbsp;&nbsp;$1162444886 |
| AppLovin Corp. Class A (a) (b) | &nbsp;&nbsp;2147707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1447167931 |
| Autodesk, Inc. (a) | &nbsp;&nbsp;1690052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500272292 |
| Cadence Design Systems, Inc. (a) | &nbsp;&nbsp;2159754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675095905 |
| Crowdstrike Holdings, Inc. Class A (a) | &nbsp;&nbsp;1991193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933391631 |
| Datadog, Inc. Class A (a) (b) | &nbsp;&nbsp;2582223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351156506 |
| Fair Isaac Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;188078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317968428 |
| Fortinet, Inc. (a) | &nbsp;&nbsp;5015379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398271246 |
| Gen Digital, Inc. (b) | &nbsp;&nbsp;4452940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121075439 |
| Intuit, Inc. | &nbsp;&nbsp;2212135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465362467 |
| Microsoft Corp. | 22595251 | &nbsp;&nbsp;&nbsp;&nbsp;10927515289 |
| Oracle Corp. | 13345468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2601165168 |
| Palantir Technologies, Inc. Class A (a) | 18125030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3221724082 |
| Palo Alto Networks, Inc. (a) | &nbsp;&nbsp;5427028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999658558 |
| PTC, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;950487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165584340 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;853998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380140130 |
| Salesforce, Inc. | &nbsp;&nbsp;7553577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001018083 |
| ServiceNow, Inc. (a) | &nbsp;&nbsp;8231258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260946413 |
| Synopsys, Inc. (a) | &nbsp;&nbsp;1473844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692294004 |
| Tyler Technologies, Inc. (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp;341374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154966727 |
| Workday, Inc. Class A (a) | &nbsp;&nbsp;1721765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369800687 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;30147020212 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 15.6%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 15.6%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 15.6%** |
| Apple, Inc. | 44921709 | &nbsp;&nbsp;&nbsp;&nbsp;12212415809 |
| Dell Technologies, Inc. Class C (b) | &nbsp;&nbsp;2391397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301029054 |
| Hewlett Packard Enterprise Co. (b) | 10469120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251468262 |
| HP, Inc. (b) | &nbsp;&nbsp;7416397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165237325 |
| NetApp, Inc. | &nbsp;&nbsp;1583841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169613533 |
| Sandisk Corp. (a) | &nbsp;&nbsp;1104678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262228464 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp;1728744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476078810 |
| Super Micro Computer, Inc. (a) (b) | &nbsp;&nbsp;3978771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116458627 |
| Western Digital Corp. (b) | &nbsp;&nbsp;2712804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467334745 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14421864629 |
| **TOTAL COMMON STOCKS<br>(Cost $69,547,849,299)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;92194443631 |
| **SHORT-TERM INVESTMENTS — 0.1%** | **SHORT-TERM INVESTMENTS — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (c) (d) | 69814377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69814377 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (e) (f) | 48402038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48402038 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $118,216,415)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $118,216,415)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118216415 |
| **TOTAL INVESTMENTS — 100.0%<br>(Cost $69,666,065,714)<br>** | **TOTAL INVESTMENTS — 100.0%<br>(Cost $69,666,065,714)<br>** | &nbsp;&nbsp;&nbsp;92312660046 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% <sup>\*</sup><br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% <sup>\*</sup><br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36395360) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $92276264686 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

(a) Non-income producing security.

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

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

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

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

(f) Investment of cash collateral for securities loaned.

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| E-mini S&P 500 Technology Select Sector Index (long) | 295 | 03/20/2026 | $86249150 | $86296350 | $47200 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $92194443631 | $— | $— | $92194443631 |
| Short-Term Investments<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118216415 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118216415 |
| **TOTAL INVESTMENTS<br>**  | $92312660046 | $— | $— | $92312660046 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Appreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$47200 | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$47200 |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$47200 | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$47200 |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/30/25** | **Value at<br>9/30/25** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| &nbsp;&nbsp;76163808 | $76163808 | &nbsp;&nbsp;$280869723 | &nbsp;&nbsp;$287219154 | $— | $— | 69814377 | $69814377 | $625193 |
| State Street Navigator Securities Lending Portfolio II<br>| 169137084 | &nbsp;&nbsp;169137084 | &nbsp;&nbsp;2493768645 | &nbsp;&nbsp;2614503691 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 48402038 | &nbsp;&nbsp;&nbsp;&nbsp;48402038 | &nbsp;&nbsp;&nbsp;&nbsp;78005 |
| Total<br>|  | $245300892 | $2774638368 | $2901722845 | $— | $— |  | $118216415 | $703198 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET UTILITIES SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.8%** | **COMMON STOCKS — 99.8%** | **COMMON STOCKS — 99.8%** |
| **ELECTRIC UTILITIES — 65.5%** | **ELECTRIC UTILITIES — 65.5%** | **ELECTRIC UTILITIES — 65.5%** |
| Alliant Energy Corp. (a) | &nbsp;&nbsp;4225436 | &nbsp;&nbsp;&nbsp;&nbsp;$274695594 |
| American Electric Power Co., Inc. (a) | &nbsp;&nbsp;8798591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1014565528 |
| Constellation Energy Corp. (a) | &nbsp;&nbsp;5133423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1813484343 |
| Duke Energy Corp. (a) | 12783121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1498309612 |
| Edison International | &nbsp;&nbsp;6325075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379631002 |
| Entergy Corp. (a) | &nbsp;&nbsp;7341139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678541478 |
| Evergy, Inc. (a) | &nbsp;&nbsp;3784173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274314701 |
| Eversource Energy (a) | &nbsp;&nbsp;6167310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415244982 |
| Exelon Corp. (a) | 16607049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723901266 |
| FirstEnergy Corp. | &nbsp;&nbsp;8546065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382607330 |
| NextEra Energy, Inc. (a) | 34233718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2748282881 |
| NRG Energy, Inc. | &nbsp;&nbsp;3150165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501632275 |
| PG&E Corp. | 36129011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580593207 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp;1967512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174518314 |
| PPL Corp. (a) | 12159755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425834620 |
| Southern Co. (a) | 18099912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1578312326 |
| Xcel Energy, Inc. | &nbsp;&nbsp;9723653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718189011 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14182658470 |
| **GAS UTILITIES — 2.0%** | **GAS UTILITIES — 2.0%** | **GAS UTILITIES — 2.0%** |
| Atmos Energy Corp. | &nbsp;&nbsp;2638645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442316061 |
| **INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS — 4.7%** | **INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS — 4.7%** | **INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS — 4.7%** |
| AES Corp. | 11705734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167860226 |
| Vistra Corp. (a) | &nbsp;&nbsp;5235437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844633051 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012493277 |
| **MULTI-UTILITIES — 25.7%** | **MULTI-UTILITIES — 25.7%** | **MULTI-UTILITIES — 25.7%** |
| Ameren Corp. (a) | &nbsp;&nbsp;4446356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444013110 |
| CenterPoint Energy, Inc. | 10731793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411456944 |
| CMS Energy Corp. (a) | &nbsp;&nbsp;5002382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349816573 |
| Consolidated Edison, Inc. | &nbsp;&nbsp;5932972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589262779 |
| Dominion Energy, Inc. (a) | 14036594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822404043 |
| DTE Energy Co. (a) | &nbsp;&nbsp;3413934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440329207 |
| NiSource, Inc. (a) | &nbsp;&nbsp;7844063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327568071 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| Public Service Enterprise Group, Inc. (a) | &nbsp;&nbsp;8205027 | &nbsp;&nbsp;&nbsp;&nbsp;$658863668 |
| Sempra (a) | 10728808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947246458 |
| WEC Energy Group, Inc. | &nbsp;&nbsp;5347179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563913498 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5554874351 |
| **WATER UTILITIES — 1.9%** | **WATER UTILITIES — 1.9%** | **WATER UTILITIES — 1.9%** |
| American Water Works Co., Inc. | &nbsp;&nbsp;3207370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418561785 |
| **TOTAL COMMON STOCKS<br>(Cost $21,290,637,215)<br>**  |  | &nbsp;&nbsp;&nbsp;&nbsp;21610903944 |
| **SHORT-TERM INVESTMENTS — 0.5%** | **SHORT-TERM INVESTMENTS — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Class G Shares 3.78% (b) (c) | 28031508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28031508 |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Portfolio II (d) (e) | 87165411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87165411 |
| **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $115,196,919)<br>** | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $115,196,919)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115196919 |
| **TOTAL INVESTMENTS — 100.3%<br>(Cost $21,405,834,134)<br>** | **TOTAL INVESTMENTS — 100.3%<br>(Cost $21,405,834,134)<br>** | &nbsp;&nbsp;&nbsp;21726100863 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.3)% <br>** | **LIABILITIES IN EXCESS OF OTHER ASSETS — (0.3)% <br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65165639) |
| **NET ASSETS — 100.0%<br>** | **NET ASSETS — 100.0%<br>** | $21660935224 |

---

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

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

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

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

(e) Investment of cash collateral for securities loaned.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| E-mini S&P 500 Utilities Select Sector Index (long) | 589 | 03/20/2026 | $51108924 | $51078080 | $(30844) |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### STATE STREET UTILITIES SELECT SECTOR SPDR ETF

#### SCHEDULE OF INVESTMENTS (continued)

#### December 31, 2025 (Unaudited)

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1 –<br> Quoted Prices** | **Level 2 –<br> Other Significant<br> Observable Inputs** | **Level 3 –<br> Significant<br> Unobservable Inputs** | **Total** |
| **ASSETS:** |  |  |  |  |
| **INVESTMENTS:** |  |  |  |  |
| Common Stocks<br>| $21610903944 | $— | $— | $21610903944 |
| Short-Term Investments<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115196919 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115196919 |
| **TOTAL INVESTMENTS<br>**  | $21726100863 | $— | $— | $21726100863 |
| **OTHER FINANCIAL INSTRUMENTS:** |  |  |  |  |
| Futures Contracts - Unrealized Depreciation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(30844) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(30844) |
| **TOTAL OTHER FINANCIAL INSTRUMENTS:<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(30844) | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(30844) |

---

#### Affiliate Table

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares Held<br> at<br> 9/30/25** | **Value at<br>9/30/25** | **Cost of<br> Purchases** | **Proceeds<br> from<br> Shares Sold** | **Realized<br> Gain (Loss)** | **Change in<br> Unrealized<br> Appreciation/<br> Depreciation** | **Number of<br> Shares Held<br> at<br> 12/31/25** | **Value at<br>12/31/25** | **Dividend<br> Income** |
| State Street Institutional U.S. Government Money Market Fund, Class G Shares<br>| &nbsp;&nbsp;24116046 | $24116046 | $238899814 | &nbsp;&nbsp;$234984352 | $— | $— | 28031508 | $28031508 | $338595 |
| State Street Navigator Securities Lending Portfolio II<br>| 191357269 | &nbsp;&nbsp;191357269 | &nbsp;&nbsp;690485917 | &nbsp;&nbsp;&nbsp;&nbsp;794677775 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | 87165411 | &nbsp;&nbsp;&nbsp;&nbsp;87165411 | &nbsp;&nbsp;&nbsp;&nbsp;55452 |
| Total<br>|  | $215473315 | $929385731 | $1029662127 | $— | $— |  | $115196919 | $394047 |

---

*See accompanying notes to Schedule of Investments.*

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### THE SELECT SECTOR SPDR TRUST

#### NOTES TO SCHEDULES OF INVESTMENTS

#### December 31, 2025 (Unaudited)

------

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

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

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

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

• Exchange-traded futures contracts are valued at the closing settlement price on the primary market on which they are traded most extensively. Exchange-traded futures contracts traded on a recognized exchange for which there were no sales on that day are valued at the last reported sale price obtained from independent pricing services or brokers or at fair value.

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

Fair value pricing could result in a difference between the prices used to calculate the Fund's NAV and the prices used by the Fund's respective Select Sector Index, which in turn could result in a difference between the Fund's performance and the performance of the Fund's respective Select Sector Index. Various inputs are used in overseeing the determination of the value of the Funds' investments.

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

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

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

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

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

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

------

[**Table of Contents**](#JOB_SSgA__01df5457-c746-45b2-bed6-343e341934df_TOC-LETTERSIZE-STANDARD)

#### THE SELECT SECTOR SPDR TRUST

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

#### December 31, 2025 (Unaudited)

------

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

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

#### 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 December 31, 2025 are disclosed in the Funds' respective Schedules of Investments.

Other information regarding the Funds is available in the Funds' most recent Report to Shareholders. This information is also available on the website of the U.S. Securities and Exchange Commission at *www.sec.gov.*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** SELECT SECTOR SPDR TRUST

- **b. Investment Company Act file number:** 811-08837

- **c. CIK number of Registrant:** 0001064641

- **d. LEI of Registrant:** 5493008JJKIPMEX3CO91

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

  - **Street Address 1:** One Congress Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02114

  - **Telephone number:** 866-732-8673

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

- **a. Name of Series:** State Street(R) Health Care Select Sector SPDR(R) ETF

- **b. EDGAR series identifier (if any):** S000006412

- **c. LEI of Series:** 549300EJNY3KKJHPOY44

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $39826880598.46

**Total Liabilities:** $115169348.69

**Net Assets:** $39711711249.77

**Cash Not Reported:** $3724248.44

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017598 | 3.57%                | 9.30%                | -1.37%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $89463163.37             | $1101150775.96                             |
| Month 2  | $228005050.52            | $3125533180.01                             |
| Month 3  | $206315710.55            | $-817805239.04                             |

### Schedule of Portfolio Investments

| Name                                         | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)    | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Abbott Laboratories                          | Abbott Laboratories                                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |  12290760 | NS      | $1539909320.40 | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                   | AbbVie Inc                                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |  12492314 | NS      | $2854368825.86 | 7.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc                     | Agilent Technologies Inc                                   | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |   2003847 | NS      | $272663461.29  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc                         | Align Technology Inc                                       | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |    471645 | NS      | $73647366.75   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors                 | State Street Navigator Securities Lending Portfolio II     | CUSIP: 857492706<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        | 108817159 | NS      | $108817158.75  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                                  | Cencora Inc                                                | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |   1370357 | NS      | $462838076.75  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                                    | Amgen Inc                                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |   3806124 | NS      | $1245782446.44 | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                          | Elevance Health Inc                                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |   1570846 | NS      | $550660065.30  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc                     | Baxter International Inc                                   | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |   3633470 | NS      | $69435611.70   | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| Becton Dickinson & Co                        | Becton Dickinson & Co                                      | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |   2025930 | NS      | $393172235.10  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                                   | Biogen Inc                                                 | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |   1036917 | NS      | $182487022.83  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                              | Bio-Techne Corp                                            | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |   1101376 | NS      | $64771922.56   | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Boston Scientific Corp                       | Boston Scientific Corp                                     | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |  10478259 | NS      | $999101995.65  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                      | Bristol-Myers Squibb Co                                    | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |  14389246 | NS      | $776155929.24  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                              | Cigna Group/The                                            | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |   1888120 | NS      | $519667267.60  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                              | CVS Health Corp                                            | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |   8972646 | NS      | $712069186.56  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc                          | Cardinal Health Inc                                        | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |   1679359 | NS      | $345108274.50  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                                 | Centene Corp                                               | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |   3300499 | NS      | $135815533.85  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories International Inc | Charles River Laboratories International Inc               | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |    347818 | NS      | $69382734.64   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The                           | Cooper Cos Inc/The                                         | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |   1405281 | NS      | $115176830.76  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                 | Danaher Corp                                               | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |   4443504 | NS      | $1017206935.68 | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| DaVita Inc                                   | DaVita Inc                                                 | CUSIP: 23918K108<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | EC               | CORP              | US        |    249548 | NS      | $28351148.28   | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Dexcom Inc                                   | Dexcom Inc                                                 | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |   2756699 | NS      | $182962112.63  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp                    | Edwards Lifesciences Corp                                  | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |   4101757 | NS      | $349674784.25  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc               | GE HealthCare Technologies Inc                             | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |   3219723 | NS      | $264081680.46  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                          | Gilead Sciences Inc                                        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |   8769456 | NS      | $1076363029.44 | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                           | HCA Healthcare Inc                                         | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |   1129024 | NS      | $527096144.64  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Hologic Inc                                  | Hologic Inc                                                | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |   1573212 | NS      | $117188561.88  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                                   | Humana Inc                                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |    850125 | NS      | $217742516.25  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                       | IDEXX Laboratories Inc                                     | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |    564402 | NS      | $381834885.06  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Incyte Corp                                  | Incyte Corp                                                | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |   1165668 | NS      | $115133028.36  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp                                 | Insulet Corp                                               | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |    497216 | NS      | $141328675.84  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                       | Intuitive Surgical Inc                                     | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |   2505689 | NS      | $1419122022.04 | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc                           | IQVIA Holdings Inc                                         | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |   1203750 | NS      | $271337287.50  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                            | Johnson & Johnson                                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |  17029489 | NS      | $3524252748.55 | 8.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings Inc                         | Labcorp Holdings Inc                                       | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    585965 | NS      | $147006899.20  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                               | Eli Lilly & Co                                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |   5613063 | NS      | $6032246544.84 | 15.19%            |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                                | McKesson Corp                                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |    872436 | NS      | $715650526.44  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                               | Merck & Co Inc                                             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |  17543598 | NS      | $1846639125.48 | 4.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Mettler-Toledo International Inc             | Mettler-Toledo International Inc                           | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |    144394 | NS      | $201312670.86  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Moderna Inc                                  | Moderna Inc                                                | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |   2457634 | NS      | $72475626.66   | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Molina Healthcare Inc                        | Molina Healthcare Inc                                      | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |    363300 | NS      | $63047082.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                                  | Revvity Inc                                                | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |    801339 | NS      | $77529548.25   | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Pfizer Inc                                   | Pfizer Inc                                                 | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |  40188022 | NS      | $1000681747.80 | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc                        | Quest Diagnostics Inc                                      | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |    786299 | NS      | $136446465.47  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc                | Regeneron Pharmaceuticals Inc                              | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |    712355 | NS      | $549845453.85  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc                                   | ResMed Inc                                                 | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |   1031708 | NS      | $248507505.96  | 0.63%             |  |  |  | No            |                  1 | On Loan: —       |
| Henry Schein Inc                             | Henry Schein Inc                                           | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |    707257 | NS      | $53454484.06   | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| Solventum Corp                               | Solventum Corp                                             | CUSIP: 83444M101<br>LEI: 254900I70403OSGY4M28 | Long             | EC               | CORP              | US        |   1042045 | NS      | $82571645.80   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                                 | Stryker Corp                                               | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |   2432776 | NS      | $855047780.72  | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                 | Thermo Fisher Scientific Inc                               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |   2655581 | NS      | $1538776410.45 | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                       | UnitedHealth Group Inc                                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |   6402674 | NS      | $2113586714.14 | 5.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services Inc                | Universal Health Services Inc                              | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |    390457 | NS      | $85127435.14   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors                 | State Street Institutional US Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  70475678 | NS      | $70475678.45   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc                   | Vertex Pharmaceuticals Inc                                 | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |   1793369 | NS      | $813041769.84  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                                  | Viatris Inc                                                | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |   8141004 | NS      | $101355499.80  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Waters Corp                                  | Waters Corp                                                | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |    420812 | NS      | $159837021.96  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services Inc             | West Pharmaceutical Services Inc                           | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |    508504 | NS      | $139909790.56  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc                   | Zimmer Biomet Holdings Inc                                 | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |   1400819 | NS      | $125961644.48  | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Zoetis Inc                                   | Zoetis Inc                                                 | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |   3114966 | NS      | $391925022.12  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                  | XAV HEALTH CARE MAR26                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       575 | NC      | $535722.55     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                | Medtronic PLC                                              | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |   9065797 | NS      | $870860459.82  | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                                   | STERIS PLC                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |    693767 | NS      | $175883809.84  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** SELECT SECTOR SPDR TRUST

**Signature:** Arthur Jensen

**Name of Signer:** Arthur Jensen

**Title:** Deputy Treasurer