NPORT-P
    false
    
      
      
        
          0001064641
          XXXXXXXX
        
      
      
      
      
        S000006412
        C000017598
      
      
      
    
  
  
    
      SELECT SECTOR SPDR TRUST
      811-08837
      0001064641
      5493008JJKIPMEX3CO91
      One Iron Street
      Boston
      
      02210
      866-732-8673
      The Health Care Select Sector SPDR Fund
      S000006412
      549300EJNY3KKJHPOY44
      2021-09-30
      2021-06-30
      N
    
    
      28001750096.58
      117050277.22
      27884699819.36
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      
        
        
      
      
        
          
            UST
          
        
      
      
        
          
        
        
          
            
            
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        Charles River Laboratories International Inc
        549300BSQ0R4UZ5KX287
        Charles River Laboratories International Inc
        159864107
        
          
        
        292923.00000000
        NS
        USD
        108358076.16000000
        0.388593303359
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DENTSPLY SIRONA Inc
        9NHEHR1SOZCYXDO8HO28
        DENTSPLY SIRONA Inc
        24906P109
        
          
        
        1288970.00000000
        NS
        USD
        81540242.20000000
        0.292419293477
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Viatris Inc
        254900ZZTSW7NL773X71
        Viatris Inc
        92556V106
        
          
        
        7157027.00000000
        NS
        USD
        102273915.83000000
        0.366774311692
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vertex Pharmaceuticals Inc
        54930015RAQRRZ5ZGJ91
        Vertex Pharmaceuticals Inc
        92532F100
        
          
        
        1528342.00000000
        NS
        USD
        308159597.46000000
        1.105120727338
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Johnson & Johnson
        549300G0CFPGEF6X2043
        Johnson & Johnson
        478160104
        
          
        
        15547480.00000000
        NS
        USD
        2561291855.20000000
        9.185294702085
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        UnitedHealth Group Inc
        549300GHBMY8T5GXDE41
        UnitedHealth Group Inc
        91324P102
        
          
        
        5571586.00000000
        NS
        USD
        2231085897.84000000
        8.001111406230
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PerkinElmer Inc
        549300IKL1SDPFI7N655
        PerkinElmer Inc
        714046109
        
          
        
        664423.00000000
        NS
        USD
        102593555.43000000
        0.367920601959
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AbbVie Inc
        FR5LCKFTG8054YNNRU85
        AbbVie Inc
        00287Y109
        
          
        
        10427664.00000000
        NS
        USD
        1174572072.96000000
        4.212245713846
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Universal Health Services Inc
        549300YGMGQDO0NMJD09
        Universal Health Services Inc
        913903100
        
          
        
        461403.00000000
        NS
        USD
        67563241.29000000
        0.242295028197
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Thermo Fisher Scientific Inc
        HCHV7422L5HDJZCRFL38
        Thermo Fisher Scientific Inc
        883556102
        
          
        
        2320489.00000000
        NS
        USD
        1170617085.83000000
        4.198062354672
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Agilent Technologies Inc
        QUIX8Y7A2WP0XRMW7G29
        Agilent Technologies Inc
        00846U101
        
          
        
        1791499.00000000
        NS
        USD
        264801467.19000000
        0.949629972369
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DaVita Inc
        M2XHYMU3TZNEZURC6H66
        DaVita Inc
        23918K108
        
          
        
        413793.00000000
        NS
        USD
        49833090.99000000
        0.178711233446
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Medtronic PLC
        549300GX3ZBSQWUXY261
        Medtronic PLC
        000000000
        
          
        
        7943238.00000000
        NS
        USD
        985994132.94000000
        3.535968252580
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Centene Corp
        549300Z7JJ4TQSQGT333
        Centene Corp
        15135B101
        
          
        
        3436463.00000000
        NS
        USD
        250621246.59000000
        0.898776921442
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zoetis Inc
        549300HD9Q1LOC9KLJ48
        Zoetis Inc
        98978V103
        
          
        
        2802976.00000000
        NS
        USD
        522362607.36000000
        1.873294712670
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Boston Scientific Corp
        Y6ZDD9FP4P8JSSJMW954
        Boston Scientific Corp
        101137107
        
          
        
        8373547.00000000
        NS
        USD
        358052869.72000000
        1.284047782617
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zimmer Biomet Holdings Inc
        2P2YLDVPES3BXQ1FRB91
        Zimmer Biomet Holdings Inc
        98956P102
        
          
        
        1228182.00000000
        NS
        USD
        197516229.24000000
        0.708331918649
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ResMed Inc
        529900T3QE5253CCXF22
        ResMed Inc
        761152107
        
          
        
        859726.00000000
        NS
        USD
        211939653.52000000
        0.760057145649
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Anthem Inc
        8MYN82XMYQH89CTMTH67
        Anthem Inc
        036752103
        
          
        
        1447018.00000000
        NS
        USD
        552471472.40000000
        1.981271005171
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Biogen Inc
        W8J5WZB5IY3K0NDQT671
        Biogen Inc
        09062X103
        
          
        
        888855.00000000
        NS
        USD
        307783820.85000000
        1.103773118749
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Align Technology Inc
        549300N5YSE0U3LCP840
        Align Technology Inc
        016255101
        
          
        
        425468.00000000
        NS
        USD
        259960948.00000000
        0.932270921631
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Becton Dickinson and Co
        ICE2EP6D98PQUILVRZ91
        Becton Dickinson and Co
        075887109
        
          
        
        1716740.00000000
        NS
        USD
        417494000.60000000
        1.497215330645
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        IQVIA Holdings Inc
        549300W3R20NM4KQPH86
        IQVIA Holdings Inc
        46266C105
        
          
        
        1130244.00000000
        NS
        USD
        273880726.08000000
        0.982189974624
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Stryker Corp
        5493002F0SC4JTBU5137
        Stryker Corp
        863667101
        
          
        
        1933876.00000000
        NS
        USD
        502285613.48000000
        1.801294676772
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cigna Corp
        549300VIWYMSIGT1U456
        Cigna Corp
        125523100
        
          
        
        2025930.00000000
        NS
        USD
        480287225.10000000
        1.722404143531
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CVS Health Corp
        549300EJG376EN5NQE29
        CVS Health Corp
        126650100
        
          
        
        7772955.00000000
        NS
        USD
        648575365.20000000
        2.325918404722
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Illumina Inc
        SQ95QG8SR5Q56LSNF682
        Illumina Inc
        452327109
        
          
        
        862032.00000000
        NS
        USD
        407922162.72000000
        1.462888843568
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Perrigo Co PLC
        549300IFOQS6R1QLY196
        Perrigo Co PLC
        000000000
        
          
        
        789093.00000000
        NS
        USD
        36179914.05000000
        0.129748264404
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Incyte Corp
        549300Z4WN6JVZ3T4680
        Incyte Corp
        45337C102
        
          
        
        1108068.00000000
        NS
        USD
        93221760.84000000
        0.334311509336
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cerner Corp
        549300L4UJ40IEVVI304
        Cerner Corp
        156782104
        
          
        
        1778956.00000000
        NS
        USD
        139043200.96000000
        0.498636176328
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        5493008BJIBKQ5KTIF74
        State Street Navigator Securities Lending Government Money Market Portfolio
        857492706
        
          
        
        4170885.75000000
        NS
        USD
        4170885.75000000
        0.014957613949
        Long
        STIV
        RF
        US
        N
        
        1
        
          
          N
          N
        
      
      
        Intuitive Surgical Inc
        54930052SRG011710797
        Intuitive Surgical Inc
        46120E602
        
          
        
        699094.00000000
        NS
        USD
        642914806.16000000
        2.305618530322
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Amgen Inc
        62QBXGPJ34PQ72Z12S66
        Amgen Inc
        031162100
        
          
        
        3392144.00000000
        NS
        USD
        826835100.00000000
        2.965192759313
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Organon & Co
        549300AMCKY57OK2CO56
        Organon & Co
        68622V106
        
          
        
        1495069.00000000
        NS
        USD
        45240787.94000000
        0.162242334445
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Abbott Laboratories
        HQD377W2YR662HK5JX27
        Abbott Laboratories
        002824100
        
          
        
        10490232.00000000
        NS
        USD
        1216132595.76000000
        4.361289896029
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dexcom Inc
        549300YSK3QDSFR5EU59
        Dexcom Inc
        252131107
        
          
        
        568279.00000000
        NS
        USD
        242655133.00000000
        0.870208876451
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Pfizer Inc
        765LHXWGK1KXCLTFYQ30
        Pfizer Inc
        717081103
        
          
        
        33048658.00000000
        NS
        USD
        1294185447.28000000
        4.641202722869
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Edwards Lifesciences Corp
        YA13X31F3V31L8TMPR58
        Edwards Lifesciences Corp
        28176E108
        
          
        
        3670104.00000000
        NS
        USD
        380112671.28000000
        1.363158555560
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Cardinal Health Inc
        CCU46N3GJMF4OK4N7U60
        Cardinal Health Inc
        14149Y108
        
          
        
        1713042.00000000
        NS
        USD
        97797567.78000000
        0.350721250053
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AmerisourceBergen Corp
        AI8GXW8LG5WK7E9UD086
        AmerisourceBergen Corp
        03073E105
        
          
        
        873956.00000000
        NS
        USD
        100059222.44000000
        0.358831987033
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ABIOMED Inc
        5493001EZN4ZTB4Z5887
        ABIOMED Inc
        003654100
        
          
        
        268215.00000000
        NS
        USD
        83712583.65000000
        0.300209735777
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Laboratory Corp of America Holdings
        OZ7UA8IXAIFILY2VZH07
        Laboratory Corp of America Holdings
        50540R409
        
          
        
        576654.00000000
        NS
        USD
        159070005.90000000
        0.570456224849
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HCA Healthcare Inc
        529900PH4ZGUH2MNEU89
        HCA Healthcare Inc
        40412C101
        
          
        
        1551599.00000000
        NS
        USD
        320777577.26000000
        1.150371276499
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bio-Rad Laboratories Inc
        549300ZC1GPV35XYDK53
        Bio-Rad Laboratories Inc
        090572207
        
          
        
        127801.00000000
        NS
        USD
        82340906.29000000
        0.295290631864
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        McKesson Corp
        549300WZWOM80UCFSF54
        McKesson Corp
        58155Q103
        
          
        
        933909.00000000
        NS
        USD
        178600757.16000000
        0.640497327627
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Humana Inc
        529900YLDW34GJAO4J06
        Humana Inc
        444859102
        
          
        
        761412.00000000
        NS
        USD
        337092320.64000000
        1.208879144562
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Danaher Corp
        S4BKK9OTCEWQ3YHPFM11
        Danaher Corp
        235851102
        
          
        
        3745252.00000000
        NS
        USD
        1005075826.72000000
        3.604398947203
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Regeneron Pharmaceuticals Inc
        549300RCBFWIRX3HYQ56
        Regeneron Pharmaceuticals Inc
        75886F107
        
          
        
        618115.00000000
        NS
        USD
        345241952.10000000
        1.238105320611
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Teleflex Inc
        UUL85LWXB4NGSWWXIQ25
        Teleflex Inc
        879369106
        
          
        
        275924.00000000
        NS
        USD
        110863503.96000000
        0.397578258608
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Mettler-Toledo International Inc
        5493000BD5GJNUDIUG10
        Mettler-Toledo International Inc
        592688105
        
          
        
        137411.00000000
        NS
        USD
        190360954.74000000
        0.682671701589
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Alexion Pharmaceuticals Inc
        M1YXUUZR0EIMU8T0EM75
        Alexion Pharmaceuticals Inc
        015351109
        
          
        
        1298993.00000000
        NS
        USD
        238638004.03000000
        0.855802664457
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Merck & Co Inc
        4YV9Y5M8S0BRK1RP0397
        Merck & Co Inc
        58933Y105
        
          
        
        14950680.00000000
        NS
        USD
        1162714383.60000000
        4.169721715249
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cooper Cos Inc/The
        QJKMVPIGLH7530PCUE20
        Cooper Cos Inc/The
        216648402
        
          
        
        290376.00000000
        NS
        USD
        115067297.52000000
        0.412653886415
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Quest Diagnostics Inc
        8MCWUBXQ0WE04KMXBX50
        Quest Diagnostics Inc
        74834L100
        
          
        
        771271.00000000
        NS
        USD
        101784633.87000000
        0.365019650666
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        STERIS PLC
        N/A
        STERIS PLC
        000000000
        
          
        
        576899.00000000
        NS
        USD
        119014263.70000000
        0.426808480890
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        West Pharmaceutical Services Inc
        5493007NKRGM1RJQ1P16
        West Pharmaceutical Services Inc
        955306105
        
          
        
        435823.00000000
        NS
        USD
        156504039.30000000
        0.561254165595
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Waters Corp
        5T547R1474YC9HOD8Q74
        Waters Corp
        941848103
        
          
        
        364239.00000000
        NS
        USD
        125884640.79000000
        0.451446999987
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Eli Lilly & Co
        FRDRIPF3EKNDJ2CQJL29
        Eli Lilly & Co
        532457108
        
          
        
        4700261.00000000
        NS
        USD
        1078803904.72000000
        3.868802288382
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Henry Schein Inc
        VGO3WGL8H45T73F4RR92
        Henry Schein Inc
        806407102
        
          
        
        830728.00000000
        NS
        USD
        61631710.32000000
        0.221023395335
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Catalent Inc
        N/A
        Catalent Inc
        148806102
        
          
        
        1009231.00000000
        NS
        USD
        109118055.72000000
        0.391318739046
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        IDEXX Laboratories Inc
        OGMTXK0LUU1HKV2P0J84
        IDEXX Laboratories Inc
        45168D104
        
          
        
        503490.00000000
        NS
        USD
        317979109.50000000
        1.140335422507
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hologic Inc
        549300DYP6F5ZJL0LB74
        Hologic Inc
        436440101
        
          
        
        1512812.00000000
        NS
        USD
        100934816.64000000
        0.361972039483
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Baxter International Inc
        J5OIVXX3P24RJRW5CK77
        Baxter International Inc
        071813109
        
          
        
        2968787.00000000
        NS
        USD
        238987353.50000000
        0.857055500142
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bristol-Myers Squibb Co
        HLYYNH7UQUORYSJQCN42
        Bristol-Myers Squibb Co
        110122108
        
          
        
        13189040.00000000
        NS
        USD
        881291652.80000000
        3.160484633182
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        5493000HFJPORCLSV250
        State Street Institutional Liquid Reserves Fund
        85749P101
        
          
        
        24008871.96000000
        NS
        USD
        24016074.62000000
        0.086126351639
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Gilead Sciences Inc
        549300WTZWR07K8MNV44
        Gilead Sciences Inc
        375558103
        
          
        
        7404629.00000000
        NS
        USD
        509882752.94000000
        1.828539508200
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
    
    
      
      
      
    
    
      2021-07-28
      SELECT SECTOR SPDR TRUST
      Arthur Jensen
      Arthur Jensen
      Deputy Treasurer
    
  
  XXXX
Quarterly Report
June 30, 2021
The Select Sector SPDR® 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.
TABLE OF CONTENTS (Unaudited)
Schedules of Investments (Unaudited)  
1
3
5
7
9
11
13
15
16
18
20
22
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
THE COMMUNICATION SERVICES SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS
June 30, 2021 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 100.0%   
DIVERSIFIED TELECOMMUNICATION SERVICES — 10.0%  
AT&T, Inc.
  22,170,344   $638,062,500
Lumen Technologies, Inc.
  9,947,971   135,192,926
Verizon Communications, Inc.
  11,379,039   637,567,555
          1,410,822,981
ENTERTAINMENT — 18.8%  
Activision Blizzard, Inc.
  6,645,832   634,278,206
Electronic Arts, Inc.
  2,861,942   411,633,118
Live Nation Entertainment, Inc. (a) (b)
  1,444,743   126,545,039
Netflix, Inc. (a)
  1,191,045   629,121,880
Take-Two Interactive Software, Inc. (a)
  1,156,631   204,746,820
Walt Disney Co. (a)
  3,653,234   642,128,940
          2,648,454,003
INTERACTIVE MEDIA & SERVICES — 49.6%  
Alphabet, Inc. Class A (a)
  672,111   1,641,153,919
Alphabet, Inc. Class C (a)
  636,353   1,594,904,251
Facebook, Inc. Class A (a)
  9,229,075   3,209,041,668
Twitter, Inc. (a)
  7,981,408   549,200,684
          6,994,300,522
MEDIA — 17.1%  
Charter Communications, Inc. Class A (a) (b)
  885,612   638,924,777
Comcast Corp. Class A
  11,238,086   640,795,664
Discovery, Inc. Class A (a) (b)
  1,686,602   51,744,949
Discovery, Inc. Class C (a)
  3,004,431   87,068,410
DISH Network Corp. Class A (a)
  2,484,650   103,858,370
Fox Corp. Class A
  3,269,443   121,394,419
Fox Corp. Class B
  1,519,627   53,490,870
Interpublic Group of Cos., Inc.
  3,933,820   127,809,812
News Corp. Class A
  3,911,857   100,808,555
News Corp. Class B
  1,217,804   29,653,527
Security Description     Shares   Value
Omnicom Group, Inc.
  2,150,858   $172,047,132
ViacomCBS, Inc. Class B
  6,055,988   273,730,658
          2,401,327,143
WIRELESS TELECOMMUNICATION SERVICES — 4.5%  
T-Mobile US, Inc. (a)
  4,382,374   634,699,227
TOTAL COMMON STOCKS

(Cost $11,429,750,760)
        14,089,603,876
SHORT-TERM INVESTMENTS — 0.1%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.05% (c) (d)
  3,944,017   3,945,200
State Street Navigator Securities Lending Portfolio II (e) (f)
  10,069,110   10,069,110
TOTAL SHORT-TERM INVESTMENTS

(Cost $14,013,919)
  14,014,310  
TOTAL INVESTMENTS — 100.1%

(Cost $11,443,764,679)
  14,103,618,186  
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.1)%
  (12,135,883)  
NET ASSETS — 100.0%
  $14,091,482,303  
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at June 30, 2021.
(c) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(d) The rate shown is the annualized seven-day yield at June 30, 2021.
(e) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(f) Investment of cash collateral for securities loaned.
 
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of June 30, 2021.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                
INVESTMENTS:                
Common Stocks
  $14,089,603,876   $—   $—   $14,089,603,876
Short-Term Investments
  14,014,310   —   —   14,014,310
TOTAL INVESTMENTS
  $14,103,618,186   $—   $—   $14,103,618,186
See accompanying notes to schedule of investments.
1
Table of Contents
THE COMMUNICATION SERVICES SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS  (continued)
June 30, 2021 (Unaudited)
Affiliate Table
  Number of
Shares Held
at
9/30/20 		  Value at

9/30/20 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
6/30/21 		  Value at

6/30/21 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
2,140,112   $2,140,540   $121,715,195   $119,913,016   $1,876   $605   3,944,017   $3,945,200   $5,828
State Street Navigator Securities Lending Portfolio II
58,511,408   58,511,408   667,525,780   715,968,078   —   —   10,069,110   10,069,110   77,117
Total
    $60,651,948   $789,240,975   $835,881,094   $1,876   $605       $14,014,310   $82,945
See accompanying notes to schedule of investments.
2
Table of Contents
THE CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS
June 30, 2021 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 100.0%   
AUTO COMPONENTS — 1.4%  
Aptiv PLC (a)
  1,424,236   $224,075,050
BorgWarner, Inc.
  1,262,982   61,305,146
          285,380,196
AUTOMOBILES — 17.0%  
Ford Motor Co. (a)
  20,646,422   306,805,831
General Motors Co. (a)
  6,722,348   397,761,331
Tesla, Inc. (a)
  4,006,694   2,723,349,912
          3,427,917,074
DISTRIBUTORS — 1.3%  
Genuine Parts Co.
  760,757   96,212,938
LKQ Corp. (a)
  1,463,847   72,050,549
Pool Corp.
  211,316   96,922,197
          265,185,684
HOTELS, RESTAURANTS & LEISURE — 19.2%  
Booking Holdings, Inc. (a)
  216,177   473,014,732
Caesars Entertainment, Inc. (a) (b)
  1,098,943   114,015,336
Carnival Corp. (a)
  4,203,743   110,810,665
Chipotle Mexican Grill, Inc. (a)
  148,271   229,870,462
Darden Restaurants, Inc.
  688,965   100,582,000
Domino's Pizza, Inc.
  204,484   95,389,741
Expedia Group, Inc. (a)
  744,883   121,944,796
Hilton Worldwide Holdings, Inc. (a)
  1,466,693   176,912,510
Las Vegas Sands Corp. (a)
  1,729,856   91,146,113
Marriott International, Inc. Class A (a)
  1,406,162   191,969,236
McDonald's Corp.
  3,929,230   907,612,838
MGM Resorts International
  2,143,940   91,439,041
Norwegian Cruise Line Holdings, Ltd. (a) (b)
  1,947,976   57,289,974
Penn National Gaming, Inc. (a) (b)
  782,157   59,827,189
Royal Caribbean Cruises, Ltd. (a) (b)
  1,152,820   98,312,490
Starbucks Corp.
  6,204,817   693,760,589
Wynn Resorts, Ltd. (a) (b)
  554,265   67,786,609
Yum! Brands, Inc.
  1,568,702   180,447,791
          3,862,132,112
HOUSEHOLD DURABLES — 4.0%  
D.R. Horton, Inc.
  1,727,444   156,109,114
Garmin, Ltd.
  789,239   114,155,529
Leggett & Platt, Inc. (b)
  701,554   36,347,513
Lennar Corp. Class A
  1,452,151   144,271,202
Mohawk Industries, Inc. (a)
  308,337   59,259,288
Newell Brands, Inc.
  1,993,269   54,755,099
NVR, Inc. (a)
  18,007   89,554,213
PulteGroup, Inc.
  1,392,718   76,000,621
Whirlpool Corp.
  329,780   71,898,636
          802,351,215
INTERNET & DIRECT MARKETING RETAIL — 24.8%  
Amazon.com, Inc. (a)
  1,342,471   4,618,315,036
eBay, Inc. (b)
  3,408,111   239,283,473
Security Description     Shares   Value
Etsy, Inc. (a)
  669,325   $137,773,858
          4,995,372,367
LEISURE EQUIPMENT & PRODUCTS — 0.3%  
Hasbro, Inc.
  673,712   63,679,258
MULTILINE RETAIL — 5.1%  
Dollar General Corp.
  1,243,794   269,144,584
Dollar Tree, Inc. (a)
  1,221,393   121,528,604
Target Corp.
  2,605,129   629,763,884
          1,020,437,072
SPECIALTY RETAIL — 20.7%  
Advance Auto Parts, Inc.
  344,548   70,680,577
AutoZone, Inc. (a)
  113,889   169,947,444
Best Buy Co., Inc.
  1,173,900   134,975,022
CarMax, Inc. (a)
  859,084   110,950,699
Gap, Inc.
  1,093,578   36,798,900
Home Depot, Inc.
  5,527,862   1,762,779,913
L Brands, Inc.
  1,233,677   88,898,765
Lowe's Cos., Inc.
  3,722,383   722,030,630
O'Reilly Automotive, Inc. (a)
  367,387   208,018,193
Ross Stores, Inc.
  1,877,829   232,850,796
TJX Cos., Inc.
  6,350,649   428,160,755
Tractor Supply Co.
  606,916   112,922,791
Ulta Beauty, Inc. (a)
  288,317   99,691,369
          4,178,705,854
TEXTILES, APPAREL & LUXURY GOODS — 6.2%  
Hanesbrands, Inc.
  1,838,416   34,323,227
NIKE, Inc. Class B
  5,805,439   896,882,271
PVH Corp. (a)
  375,300   40,378,527
Ralph Lauren Corp.
  254,103   29,935,874
Tapestry, Inc. (a)
  1,468,388   63,845,510
Under Armour, Inc. Class A (a) (b)
  993,228   21,006,772
Under Armour, Inc. Class C (a)
  1,034,688   19,214,156
VF Corp.
  1,693,318   138,919,809
          1,244,506,146
TOTAL COMMON STOCKS

(Cost $17,415,086,498)
        20,145,666,978
SHORT-TERM INVESTMENTS — 0.3%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.05% (c) (d)
  19,343,978   19,349,781
State Street Navigator Securities Lending Portfolio II (e) (f)
  41,012,488   41,012,488
TOTAL SHORT-TERM INVESTMENTS

(Cost $60,362,269)
  60,362,269  
TOTAL INVESTMENTS — 100.3%

(Cost $17,475,448,767)
  20,206,029,247  
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.3)%
  (52,293,832)  
NET ASSETS — 100.0%
  $20,153,735,415  
(a) Non-income producing security.
 
See accompanying notes to schedule of investments.
3
Table of Contents
THE CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS  (continued)
June 30, 2021 (Unaudited)
(b) All or a portion of the shares of the security are on loan at June 30, 2021.
(c) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(d) The rate shown is the annualized seven-day yield at June 30, 2021.
(e) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(f) Investment of cash collateral for securities loaned.
 
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of June 30, 2021.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                
INVESTMENTS:                
Common Stocks
  $20,145,666,978   $—   $—   $20,145,666,978
Short-Term Investments
  60,362,269   —   —   60,362,269
TOTAL INVESTMENTS
  $20,206,029,247   $—   $—   $20,206,029,247
Affiliate Table
  Number of
Shares Held
at
9/30/20 		  Value at

9/30/20 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
6/30/21 		  Value at

6/30/21 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
1,665,605   $1,665,938   $246,176,119   $228,493,296   $1,020   $—   19,343,978   $19,349,781   $113,889
State Street Navigator Securities Lending Portfolio II
78,424,080   78,424,080   1,299,988,994   1,337,400,586   —   —   41,012,488   41,012,488   74,119
Total
    $80,090,018   $1,546,165,113   $1,565,893,882   $1,020   $—       $60,362,269   $188,008
See accompanying notes to schedule of investments.
4
Table of Contents
THE CONSUMER STAPLES SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS
June 30, 2021 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.6%   
BEVERAGES — 24.8%  
Brown-Forman Corp. Class B
  1,158,213   $86,796,482
Coca-Cola Co.
  21,022,235   1,137,513,136
Constellation Brands, Inc. Class A
  1,071,623   250,641,903
Molson Coors Beverage Co. Class B (a) (b)
  1,194,385   64,126,531
Monster Beverage Corp. (a)
  2,346,131   214,319,067
PepsiCo, Inc.
  7,484,843   1,109,029,187
          2,862,426,306
FOOD & STAPLES RETAILING — 19.6%  
Costco Wholesale Corp.
  1,369,413   541,835,642
Kroger Co. (b)
  4,800,722   183,915,660
Sysco Corp.
  3,243,912   252,214,158
Walmart, Inc.
  7,438,286   1,048,947,092
Walgreens Boots Alliance, Inc.
  4,549,319   239,339,673
          2,266,252,225
FOOD PRODUCTS — 18.1%  
Archer-Daniels-Midland Co.
  3,542,724   214,689,074
Campbell Soup Co. (b)
  1,287,388   58,692,019
Conagra Brands, Inc.
  3,036,167   110,455,755
General Mills, Inc.
  3,867,770   235,663,226
Hershey Co.
  928,254   161,683,282
Hormel Foods Corp.
  1,787,298   85,343,480
J.M. Smucker Co.
  694,882   90,035,861
Kellogg Co. (b)
  1,597,662   102,777,596
Kraft Heinz Co.
  4,110,639   167,631,858
Lamb Weston Holdings, Inc.
  927,572   74,817,958
McCormick & Co., Inc.
  1,578,930   139,451,098
Mondelez International, Inc. Class A
  8,197,892   511,876,376
Tyson Foods, Inc. Class A
  1,869,197   137,871,971
          2,090,989,554
HOUSEHOLD PRODUCTS — 24.1%  
Church & Dwight Co., Inc.
  1,555,098   132,525,452
Clorox Co.
  788,629   141,882,243
Colgate-Palmolive Co.
  5,364,232   436,380,273
Kimberly-Clark Corp.
  2,139,591   286,234,484
Security Description     Shares   Value
Procter & Gamble Co.
  13,263,062   $1,789,584,956
          2,786,607,408
PERSONAL PRODUCTS — 4.1%  
Estee Lauder Cos., Inc. Class A
  1,470,472   467,727,733
TOBACCO — 8.9%  
Altria Group, Inc.
  10,507,749   501,009,472
Philip Morris International, Inc.
  5,289,986   524,290,513
          1,025,299,985
TOTAL COMMON STOCKS

(Cost $11,805,843,746)
        11,499,303,211
SHORT-TERM INVESTMENTS — 0.3%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.05% (c) (d)
  11,501,997   11,505,448
State Street Navigator Securities Lending Portfolio II (e) (f)
  25,521,383   25,521,383
TOTAL SHORT-TERM INVESTMENTS

(Cost $37,026,828)
  37,026,831  
TOTAL INVESTMENTS — 99.9%

(Cost $11,842,870,574)
  11,536,330,042  
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.1%
  11,111,792  
NET ASSETS — 100.0%
  $11,547,441,834  
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at June 30, 2021.
(c) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(d) The rate shown is the annualized seven-day yield at June 30, 2021.
(e) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(f) Investment of cash collateral for securities loaned.
 
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of June 30, 2021.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                
INVESTMENTS:                
Common Stocks
  $11,499,303,211   $—   $—   $11,499,303,211
Short-Term Investments
  37,026,831   —   —   37,026,831
TOTAL INVESTMENTS
  $11,536,330,042   $—   $—   $11,536,330,042
See accompanying notes to schedule of investments.
5
Table of Contents
THE CONSUMER STAPLES SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS  (continued)
June 30, 2021 (Unaudited)
Affiliate Table
  Number of
Shares Held
at
9/30/20 		  Value at

9/30/20 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
6/30/21 		  Value at

6/30/21 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
15,234,551   $15,237,598   $440,930,245   $444,666,859   $4,102   $362   11,501,997   $11,505,448   $10,712
State Street Navigator Securities Lending Portfolio II
21,096,352   21,096,352   627,699,207   623,274,176   —   —   25,521,383   25,521,383   48,133
Total
    $36,333,950   $1,068,629,452   $1,067,941,035   $4,102   $362       $37,026,831   $58,845
See accompanying notes to schedule of investments.
6
Table of Contents
THE ENERGY SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS
June 30, 2021 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.9%   
ENERGY EQUIPMENT & SERVICES — 9.1%  
Baker Hughes Co. (a)
  20,102,023   $459,733,266
Halliburton Co.
  24,587,303   568,458,446
Nov, Inc. (b)
  10,795,433   165,386,034
Schlumberger NV
  35,273,835   1,129,115,458
          2,322,693,204
OIL, GAS & CONSUMABLE FUELS — 90.8%  
APA Corp.
  10,445,267   225,931,125
Cabot Oil & Gas Corp. (a)
  11,044,698   192,840,427
Chevron Corp.
  48,755,072   5,106,606,241
ConocoPhillips
  19,428,273   1,183,181,826
Devon Energy Corp.
  16,461,419   480,508,821
Diamondback Energy, Inc.
  5,001,844   469,623,133
EOG Resources, Inc.
  13,636,681   1,137,844,663
Exxon Mobil Corp.
  95,786,089   6,042,186,494
Hess Corp.
  7,585,701   662,383,411
Kinder Morgan, Inc.
  53,820,232   981,142,829
Marathon Oil Corp.
  21,780,519   296,650,669
Marathon Petroleum Corp.
  17,605,726   1,063,737,965
Occidental Petroleum Corp.
  23,215,491   725,948,404
ONEOK, Inc.
  12,312,449   685,064,662
Phillips 66
  12,100,421   1,038,458,130
Pioneer Natural Resources Co.
  6,404,587   1,040,873,479
Valero Energy Corp.
  11,296,084   881,998,239
Williams Cos., Inc.
  33,569,918   891,281,323
          23,106,261,841
TOTAL COMMON STOCKS

(Cost $25,449,621,764)
        25,428,955,045
Security Description     Shares   Value
SHORT-TERM INVESTMENTS — 0.9%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.05% (c) (d)
  31,828,317   $31,837,865
State Street Navigator Securities Lending Portfolio II (e) (f)
  204,237,266   204,237,266
TOTAL SHORT-TERM INVESTMENTS

(Cost $236,075,132)
  236,075,131  
TOTAL INVESTMENTS — 100.8%

(Cost $25,685,696,896)
  25,665,030,176  
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.8)%
  (198,302,036)  
NET ASSETS — 100.0%
  $25,466,728,140  
(a) All or a portion of the shares of the security are on loan at June 30, 2021.
(b) Non-income producing security.
(c) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(d) The rate shown is the annualized seven-day yield at June 30, 2021.
(e) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(f) Investment of cash collateral for securities loaned.
 
At June 30, 2021, open futures contracts purchased were as follows:
Description   Number of
Contracts 		  Expiration
Date 		  Notional
Amount 		  Value   Unrealized
Appreciation
(Depreciation)
E-mini S&P 500 Energy Sector Index (long)   500   09/17/2021   $28,475,999   $27,965,000   $(510,999)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of June 30, 2021.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                
INVESTMENTS:                
Common Stocks
  $25,428,955,045   $—   $—   $25,428,955,045
Short-Term Investments
  236,075,131   —   —   236,075,131
TOTAL INVESTMENTS
  $25,665,030,176   $—   $—   $25,665,030,176
LIABILITIES:                
OTHER FINANCIAL INSTRUMENTS:                
Futures Contracts(a)
  (510,999)   —   —   (510,999)
TOTAL OTHER FINANCIAL INSTRUMENTS:
  $(510,999)   $—   $—   $(510,999)
(a) Futures Contracts are valued at unrealized appreciation (depreciation).
See accompanying notes to schedule of investments.
7
Table of Contents
THE ENERGY SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS  (continued)
June 30, 2021 (Unaudited)
Affiliate Table
  Number of
Shares Held
at
9/30/20 		  Value at

9/30/20 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
6/30/21 		  Value at

6/30/21 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
10,727,178   $10,729,324   $929,207,232   $908,100,923   $2,232   $—   31,828,317   $31,837,865   $25,022
State Street Navigator Securities Lending Portfolio II
86,266,512   86,266,512   1,242,099,151   1,124,128,397   —   —   204,237,266   204,237,266   114,371
Total
    $96,995,836   $2,171,306,383   $2,032,229,320   $2,232   $—       $236,075,131   $139,393
See accompanying notes to schedule of investments.
8
Table of Contents
THE FINANCIAL SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS
June 30, 2021 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.9%   
BANKS — 38.1%  
Bank of America Corp.
  74,897,589   $3,088,027,594
Citigroup, Inc.
  20,530,071   1,452,502,523
Citizens Financial Group, Inc.
  4,230,333   194,045,375
Comerica, Inc.
  1,386,588   98,919,188
Fifth Third Bancorp
  6,991,779   267,295,711
First Republic Bank
  1,747,980   327,169,417
Huntington Bancshares, Inc.
  14,654,596   209,121,085
JPMorgan Chase & Co.
  30,065,555   4,676,396,425
KeyCorp.
  9,639,238   199,050,265
M&T Bank Corp.
  1,277,763   185,671,741
People's United Financial, Inc.
  4,247,251   72,797,882
PNC Financial Services Group, Inc.
  4,219,757   804,960,845
Regions Financial Corp.
  9,547,524   192,669,034
SVB Financial Group (a)
  539,460   300,171,728
Truist Financial Corp.
  13,357,052   741,316,386
US Bancorp
  13,463,923   767,039,693
Wells Fargo & Co.
  41,054,840   1,859,373,704
Zions Bancorp NA
  1,627,064   86,006,603
          15,522,535,199
CAPITAL MARKETS — 26.7%  
Ameriprise Financial, Inc.
  1,151,217   286,514,887
Bank of New York Mellon Corp.
  8,013,146   410,513,470
BlackRock, Inc.
  1,408,795   1,232,653,361
Cboe Global Markets, Inc.
  1,059,633   126,149,309
Charles Schwab Corp.
  14,896,577   1,084,619,771
CME Group, Inc.
  3,566,507   758,524,709
Franklin Resources, Inc. (b)
  2,704,795   86,526,392
Goldman Sachs Group, Inc.
  3,379,057   1,282,453,503
Intercontinental Exchange, Inc.
  5,589,428   663,465,104
Invesco, Ltd.
  3,758,153   100,455,430
MarketAxess Holdings, Inc.
  377,285   174,905,553
Moody's Corp.
  1,598,957   579,414,048
Morgan Stanley
  14,783,601   1,355,508,376
MSCI, Inc.
  818,612   436,385,685
Nasdaq, Inc.
  1,140,869   200,564,770
Northern Trust Corp.
  2,067,222   239,012,208
Raymond James Financial, Inc.
  1,214,741   157,794,856
S&P Global, Inc. (b)
  2,392,578   982,033,640
State Street Corp. (c)
  3,454,059   284,199,974
T Rowe Price Group, Inc.
  2,253,115   446,049,176
          10,887,744,222
CONSUMER FINANCE — 5.9%  
American Express Co.
  6,462,521   1,067,802,345
Capital One Financial Corp.
  4,484,204   693,661,517
Discover Financial Services
  3,028,155   358,200,455
Synchrony Financial
  5,372,158   260,657,106
          2,380,321,423
DIVERSIFIED FINANCIAL SERVICES — 12.8%  
Berkshire Hathaway, Inc. Class B (a)
  18,824,688   5,231,757,289
Security Description     Shares   Value
INSURANCE — 16.4%  
Aflac, Inc.
  6,277,965   $336,875,602
Allstate Corp.
  2,973,012   387,799,685
American International Group, Inc.
  8,523,127   405,700,845
Aon PLC Class A
  2,241,172   535,102,227
Arthur J Gallagher & Co.
  2,034,914   285,050,753
Assurant, Inc.
  601,531   93,947,112
Chubb, Ltd.
  4,466,322   709,877,219
Cincinnati Financial Corp.
  1,488,051   173,536,508
Everest Re Group, Ltd.
  398,156   100,339,294
Globe Life, Inc.
  941,656   89,692,734
Hartford Financial Services Group, Inc.
  3,547,665   219,848,800
Lincoln National Corp.
  1,777,304   111,685,783
Loews Corp.
  2,221,767   121,419,567
Marsh & McLennan Cos., Inc.
  5,050,786   710,544,574
MetLife, Inc.
  7,390,451   442,318,492
Principal Financial Group, Inc.
  2,512,493   158,764,433
Progressive Corp.
  5,811,764   570,773,342
Prudential Financial, Inc.
  3,913,239   400,989,600
Travelers Cos., Inc.
  2,497,893   373,959,561
Unum Group
  2,028,571   57,611,416
Willis Towers Watson PLC
  1,281,044   294,665,741
WR Berkley Corp.
  1,391,792   103,591,079
          6,684,094,367
TOTAL COMMON STOCKS

(Cost $37,210,780,033)
        40,706,452,500
SHORT-TERM INVESTMENTS — 0.2%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.05% (d) (e)
  64,974,671   64,994,164
State Street Navigator Securities Lending Portfolio II (c) (f)
  709,893   709,893
TOTAL SHORT-TERM INVESTMENTS

(Cost $65,702,648)
  65,704,057  
TOTAL INVESTMENTS — 100.1%

(Cost $37,276,482,681)
  40,772,156,557  
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.1)%
  (20,846,776)  
NET ASSETS — 100.0%
  $40,751,309,781  
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at June 30, 2021.
(c) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(d) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(e) The rate shown is the annualized seven-day yield at June 30, 2021.
(f) Investment of cash collateral for securities loaned.
 
See accompanying notes to schedule of investments.
9
Table of Contents
THE FINANCIAL SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS  (continued)
June 30, 2021 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of June 30, 2021.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                
INVESTMENTS:                
Common Stocks
  $40,706,452,500   $—   $—   $40,706,452,500
Short-Term Investments
  65,704,057   —   —   65,704,057
TOTAL INVESTMENTS
  $40,772,156,557   $—   $—   $40,772,156,557
Affiliate Table
  Number of
Shares Held
at
9/30/20 		  Value at

9/30/20 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
6/30/21 		  Value at

6/30/21 		  Dividend
Income
State Street Corp.
2,174,310   $129,001,812   $251,327,259   $154,151,651   $10,114,860   $47,907,694   3,454,059   $284,199,974   $4,996,788
State Street Institutional Liquid Reserves Fund, Premier Class
37,581,898   37,589,414   753,922,564   726,521,080   285   2,981   64,974,671   64,994,164   19,094
State Street Navigator Securities Lending Portfolio II
23,127,546   23,127,546   1,453,097,462   1,475,515,115   —   —   709,893   709,893   30,525
Total
    $189,718,772   $2,458,347,285   $2,356,187,846   $10,115,145   $47,910,675       $349,904,031   $5,046,407
See accompanying notes to schedule of investments.
10
Table of Contents
THE HEALTH CARE SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS
June 30, 2021 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.9%   
BIOTECHNOLOGY — 13.6%  
AbbVie, Inc.
  10,550,280   $1,188,383,539
Alexion Pharmaceuticals, Inc. (a)
  1,314,333   241,456,116
Amgen, Inc.
  3,432,028   836,556,825
Biogen, Inc. (a)
  899,307   311,403,035
Gilead Sciences, Inc.
  7,491,677   515,876,878
Incyte Corp. (a)
  1,121,068   94,315,451
Regeneron Pharmaceuticals, Inc. (a)
  625,395   349,308,123
Vertex Pharmaceuticals, Inc. (a)
  1,546,334   311,787,324
          3,849,087,291
HEALTH CARE EQUIPMENT & SUPPLIES — 27.8%  
Abbott Laboratories
  10,613,576   1,230,431,866
ABIOMED, Inc. (a)
  271,335   84,686,367
Align Technology, Inc. (a)
  430,460   263,011,060
Baxter International, Inc.
  3,003,679   241,796,159
Becton Dickinson and Co.
  1,736,916   422,400,602
Boston Scientific Corp. (a)
  8,472,191   362,270,887
Cooper Cos., Inc.
  293,808   116,427,296
Danaher Corp.
  3,789,296   1,016,895,475
DENTSPLY SIRONA, Inc.
  1,304,102   82,497,493
DexCom, Inc. (a) (b)
  574,987   245,519,449
Edwards Lifesciences Corp. (a) (b)
  3,713,264   384,582,752
Hologic, Inc. (a)
  1,530,596   102,121,365
IDEXX Laboratories, Inc. (a)
  509,418   321,722,938
Intuitive Surgical, Inc. (a)
  707,310   650,470,568
Medtronic PLC
  8,036,630   997,586,882
ResMed, Inc.
  869,814   214,426,547
STERIS PLC
  583,659   120,408,852
Stryker Corp.
  1,956,652   508,201,224
Teleflex, Inc.
  279,148   112,158,875
West Pharmaceutical Services, Inc.
  440,971   158,352,686
Zimmer Biomet Holdings, Inc.
  1,242,638   199,841,043
          7,835,810,386
HEALTH CARE PROVIDERS & SERVICES — 20.2%  
AmerisourceBergen Corp.
  884,200   101,232,058
Anthem, Inc.
  1,464,022   558,963,599
Cardinal Health, Inc.
  1,733,166   98,946,447
Centene Corp. (a)
  3,476,919   253,571,703
Cigna Corp.
  2,049,746   485,933,284
CVS Health Corp.
  7,864,371   656,203,116
DaVita, Inc. (a)
  418,681   50,421,753
HCA Healthcare, Inc.
  1,569,851   324,550,996
Henry Schein, Inc. (a)
  840,504   62,356,992
Humana, Inc.
  770,356   341,052,008
Laboratory Corp. of America Holdings (a)
  583,414   160,934,752
McKesson Corp.
  944,881   180,699,042
Quest Diagnostics, Inc.
  780,319   102,978,698
UnitedHealth Group, Inc.
  5,637,106   2,257,322,727
Universal Health Services, Inc. Class B
  466,811   68,355,135
          5,703,522,310
Security Description     Shares   Value
HEALTH CARE TECHNOLOGY — 0.5%  
Cerner Corp.
  1,799,860   $140,677,058
LIFE SCIENCES TOOLS & SERVICES — 9.8%  
Agilent Technologies, Inc.
  1,812,559   267,914,346
Bio-Rad Laboratories, Inc. Class A (a)
  129,309   83,312,496
Charles River Laboratories International, Inc. (a)
  296,407   109,646,877
Illumina, Inc. (a)
  872,172   412,720,512
IQVIA Holdings, Inc. (a)
  1,143,556   277,106,490
Mettler-Toledo International, Inc. (a)
  139,023   192,594,123
PerkinElmer, Inc.
  672,223   103,797,953
Thermo Fisher Scientific, Inc.
  2,347,789   1,184,389,117
Waters Corp. (a)
  368,503   127,358,322
          2,758,840,236
PHARMACEUTICALS — 28.0%  
Bristol-Myers Squibb Co.
  13,344,104   891,653,029
Catalent, Inc. (a)
  1,021,035   110,394,304
Eli Lilly & Co.
  4,755,537   1,091,490,852
Johnson & Johnson
  15,730,260   2,591,403,032
Merck & Co., Inc.
  15,126,440   1,176,383,239
Organon & Co. (a)
  1,512,645   45,772,638
Perrigo Co. PLC
  798,349   36,604,302
Pfizer, Inc.
  33,437,254   1,309,402,867
Viatris, Inc.
  7,240,903   103,472,504
Zoetis, Inc.
  2,835,944   528,506,524
          7,885,083,291
TOTAL COMMON STOCKS

(Cost $25,574,910,626)
        28,173,020,572
SHORT-TERM INVESTMENTS — 0.1%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.05% (c) (d)
  24,008,872   24,016,075
State Street Navigator Securities Lending Portfolio II (e) (f)
  4,170,886   4,170,886
TOTAL SHORT-TERM INVESTMENTS

(Cost $28,183,852)
  28,186,961  
TOTAL INVESTMENTS — 100.0%

(Cost $25,603,094,478)
  28,201,207,533  
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0% (g)
  10,933,335  
NET ASSETS — 100.0%
  $28,212,140,868  
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at June 30, 2021.
(c) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(d) The rate shown is the annualized seven-day yield at June 30, 2021.
 
See accompanying notes to schedule of investments.
11
Table of Contents
THE HEALTH CARE SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS  (continued)
June 30, 2021 (Unaudited)
(e) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(f) Investment of cash collateral for securities loaned.
(g) Amount is less than 0.05% of net assets.
 
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of June 30, 2021.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                
INVESTMENTS:                
Common Stocks
  $28,173,020,572   $—   $—   $28,173,020,572
Short-Term Investments
  28,186,961   —   —   28,186,961
TOTAL INVESTMENTS
  $28,201,207,533   $—   $—   $28,201,207,533
Affiliate Table
  Number of
Shares Held
at
9/30/20 		  Value at

9/30/20 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
6/30/21 		  Value at

6/30/21 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
16,316,773   $16,320,037   $534,808,466   $527,116,651   $3,224   $999   24,008,872   $24,016,075   $19,712
State Street Navigator Securities Lending Portfolio II
6,266,218   6,266,218   654,948,981   657,044,313   —   —   4,170,886   4,170,886   31,562
Total
    $22,586,255   $1,189,757,447   $1,184,160,964   $3,224   $999       $28,186,961   $51,274
See accompanying notes to schedule of investments.
12
Table of Contents
THE INDUSTRIAL SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS
June 30, 2021 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.9%   
AEROSPACE & DEFENSE — 18.9%  
Boeing Co. (a)
  3,430,788   $821,879,573
General Dynamics Corp.
  1,428,518   268,932,799
Howmet Aerospace, Inc. (a)
  2,432,596   83,851,584
Huntington Ingalls Industries, Inc.
  250,845   52,865,584
L3Harris Technologies, Inc.
  1,279,283   276,517,020
Lockheed Martin Corp.
  1,526,419   577,520,629
Northrop Grumman Corp.
  934,241   339,531,207
Raytheon Technologies Corp.
  9,455,474   806,646,487
Teledyne Technologies, Inc. (a)
  289,793   121,374,002
Textron, Inc.
  1,408,524   96,864,195
TransDigm Group, Inc. (a)
  342,526   221,713,655
          3,667,696,735
AIR FREIGHT & LOGISTICS — 8.3%  
C.H. Robinson Worldwide, Inc. (b)
  829,985   77,744,695
Expeditors International of Washington, Inc.
  1,055,771   133,660,609
FedEx Corp.
  1,523,532   454,515,301
United Parcel Service, Inc. Class B
  4,514,137   938,805,072
          1,604,725,677
AIRLINES — 3.1%  
Alaska Air Group, Inc. (a)
  774,346   46,700,807
American Airlines Group, Inc. (a)
  4,002,780   84,898,964
Delta Air Lines, Inc. (a)
  3,991,953   172,691,887
Southwest Airlines Co. (a)
  3,690,678   195,938,095
United Airlines Holdings, Inc. (a)
  2,019,411   105,595,001
          605,824,754
BUILDING PRODUCTS — 5.9%  
A.O. Smith Corp.
  844,282   60,838,961
Allegion PLC
  561,452   78,210,264
Carrier Global Corp.
  5,093,697   247,553,674
Fortune Brands Home & Security, Inc.
  864,460   86,108,860
Johnson Controls International PLC
  4,472,963   306,979,451
Masco Corp.
  1,583,834   93,303,661
Trane Technologies PLC
  1,492,532   274,834,842
          1,147,829,713
COMMERCIAL SERVICES & SUPPLIES — 4.7%  
Cintas Corp.
  550,732   210,379,624
Copart, Inc. (a)
  1,299,289   171,285,269
Republic Services, Inc.
  1,311,909   144,323,109
Rollins, Inc. (b)
  1,377,376   47,106,259
Waste Management, Inc.
  2,423,675   339,581,104
          912,675,365
CONSTRUCTION & ENGINEERING — 0.4%  
Quanta Services, Inc.
  869,667   78,765,740
ELECTRICAL EQUIPMENT — 6.7%  
AMETEK, Inc.
  1,441,133   192,391,256
Eaton Corp. PLC
  2,487,007   368,524,697
Emerson Electric Co.
  3,740,383   359,974,460
Generac Holdings, Inc. (a)
  392,940   163,129,041
Security Description     Shares   Value
Rockwell Automation, Inc.
  724,088   $207,103,650
          1,291,123,104
INDUSTRIAL CONGLOMERATES — 14.0%  
3M Co.
  3,617,615   718,566,868
General Electric Co.
  54,786,520   737,426,559
Honeywell International, Inc.
  4,335,524   950,997,189
Roper Technologies, Inc.
  656,740   308,799,148
          2,715,789,764
MACHINERY — 19.5%  
Caterpillar, Inc.
  3,418,680   744,007,328
Cummins, Inc.
  912,409   222,454,438
Deere & Co.
  1,946,785   686,650,537
Dover Corp.
  898,251   135,276,601
Fortive Corp.
  2,112,738   147,342,348
IDEX Corp.
  473,140   104,114,457
Illinois Tool Works, Inc.
  1,794,026   401,072,453
Ingersoll Rand, Inc. (a)
  2,329,846   113,719,783
Otis Worldwide Corp.
  2,517,514   205,857,120
PACCAR, Inc.
  2,166,562   193,365,659
Parker-Hannifin Corp.
  804,680   247,125,275
Pentair PLC
  1,035,239   69,868,280
Snap-on, Inc.
  337,748   75,463,036
Stanley Black & Decker, Inc.
  1,007,884   206,606,141
Westinghouse Air Brake Technologies Corp.
  1,106,947   91,101,738
Xylem, Inc.
  1,124,181   134,856,753
          3,778,881,947
PROFESSIONAL SERVICES — 4.8%  
Equifax, Inc.
  759,346   181,870,960
IHS Markit, Ltd.
  2,337,898   263,387,589
Jacobs Engineering Group, Inc.
  810,893   108,189,344
Leidos Holdings, Inc.
  831,525   84,067,177
Nielsen Holdings PLC
  2,230,404   55,024,067
Robert Half International, Inc.
  705,213   62,742,801
Verisk Analytics, Inc.
  1,011,542   176,736,618
          932,018,556
ROAD & RAIL — 11.3%  
CSX Corp.
  14,180,423   454,907,970
JB Hunt Transport Services, Inc.
  520,589   84,829,978
Kansas City Southern
  567,504   160,813,608
Norfolk Southern Corp.
  1,561,763   414,507,518
Old Dominion Freight Line, Inc.
  593,515   150,634,107
Union Pacific Corp.
  4,145,854   911,797,670
          2,177,490,851
TRADING COMPANIES & DISTRIBUTORS — 2.3%  
Fastenal Co.
  3,580,164   186,168,528
United Rentals, Inc. (a)
  451,711   144,100,326
W.W. Grainger, Inc.
  273,215   119,668,170
          449,937,024
TOTAL COMMON STOCKS

(Cost $18,619,316,141)
        19,362,759,230
 
See accompanying notes to schedule of investments.
13
Table of Contents
THE INDUSTRIAL SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS  (continued)
June 30, 2021 (Unaudited)
Security Description     Shares   Value
SHORT-TERM INVESTMENTS — 0.1%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.05% (c) (d)
  16,436,677   $16,441,608
State Street Navigator Securities Lending Portfolio II (e) (f)
  2,862,681   2,862,681
TOTAL SHORT-TERM INVESTMENTS

(Cost $19,304,227)
  19,304,289  
TOTAL INVESTMENTS — 100.0%

(Cost $18,638,620,368)
  19,382,063,519  
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0% (g)
  3,041,954  
NET ASSETS — 100.0%
  $19,385,105,473  
    
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at June 30, 2021.
(c) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(d) The rate shown is the annualized seven-day yield at June 30, 2021.
(e) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(f) Investment of cash collateral for securities loaned.
(g) Amount is less than 0.05% of net assets.
 
At June 30, 2021, open futures contracts purchased were as follows:
Description   Number of
Contracts 		  Expiration
Date 		  Notional
Amount 		  Value   Unrealized
Appreciation
(Depreciation)
E-mini S&P 500 Industrial Select Sector Index   177   09/17/2021   $18,369,060   $18,231,000   $(138,060)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of June 30, 2021.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                
INVESTMENTS:                
Common Stocks
  $19,362,759,230   $—   $—   $19,362,759,230
Short-Term Investments
  19,304,289   —   —   19,304,289
TOTAL INVESTMENTS
  $19,382,063,519   $—   $—   $19,382,063,519
LIABILITIES:                
OTHER FINANCIAL INSTRUMENTS:                
Futures Contracts(a)
  (138,060)   —   —   (138,060)
TOTAL OTHER FINANCIAL INSTRUMENTS:
  $(138,060)   $—   $—   $(138,060)
(a) Futures Contracts are valued at unrealized appreciation (depreciation).
Affiliate Table
  Number of
Shares Held
at
9/30/20 		  Value at

9/30/20 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
6/30/21 		  Value at

6/30/21 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
8,121,441   $8,123,066   $234,036,665   $225,720,296   $2,111   $62   16,436,677   $16,441,608   $12,047
State Street Navigator Securities Lending Portfolio II
30,103,138   30,103,138   621,732,835   648,973,292   —   —   2,862,681   2,862,681   89,148
Total
    $38,226,204   $855,769,500   $874,693,588   $2,111   $62       $19,304,289   $101,195
See accompanying notes to schedule of investments.
14
Table of Contents
THE MATERIALS SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS
June 30, 2021 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.9%   
CHEMICALS — 67.8%  
Air Products & Chemicals, Inc.
  2,176,528   $626,143,575
Albemarle Corp.
  1,163,210   195,954,357
Celanese Corp.
  1,122,459   170,164,784
CF Industries Holdings, Inc.
  2,137,871   109,993,463
Corteva, Inc.
  7,345,803   325,786,363
Dow, Inc.
  6,417,726   406,113,701
DuPont de Nemours, Inc.
  5,303,174   410,518,699
Eastman Chemical Co.
  1,360,501   158,838,492
Ecolab, Inc.
  2,446,540   503,913,844
FMC Corp.
  1,284,298   138,961,044
International Flavors & Fragrances, Inc.
  2,480,660   370,610,604
Linde PLC
  5,116,037   1,479,046,297
LyondellBasell Industries NV Class A
  2,565,762   263,939,937
Mosaic Co.
  3,444,184   109,903,911
PPG Industries, Inc.
  2,362,844   401,140,026
Sherwin-Williams Co.
  2,354,009   641,349,752
          6,312,378,849
CONSTRUCTION MATERIALS — 4.8%  
Martin Marietta Materials, Inc.
  621,534   218,661,877
Vulcan Materials Co.
  1,322,156   230,147,695
          448,809,572
CONTAINERS & PACKAGING — 13.1%  
Amcor PLC
  15,365,238   176,085,628
Avery Dennison Corp.
  827,247   173,920,409
Ball Corp.
  3,271,357   265,045,344
International Paper Co.
  3,903,993   239,353,811
Security Description     Shares   Value
Packaging Corp. of America
  946,713   $128,203,874
Sealed Air Corp.
  1,514,683   89,744,968
Westrock Co.
  2,652,046   141,141,888
          1,213,495,922
METALS & MINING — 14.2%  
Freeport-McMoRan, Inc.
  14,412,972   534,865,391
Newmont Corp.
  7,879,187   499,382,872
Nucor Corp.
  2,982,239   286,086,187
          1,320,334,450
TOTAL COMMON STOCKS

(Cost $8,987,379,170)
        9,295,018,793
SHORT-TERM INVESTMENT — 0.4%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.05% (a) (b)

(Cost $41,252,508)
  41,240,389   41,252,761
TOTAL INVESTMENTS — 100.3%

(Cost $9,028,631,678)
  9,336,271,554  
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.3)%
  (31,551,153)  
NET ASSETS — 100.0%
  $9,304,720,401  
(a) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(b) The rate shown is the annualized seven-day yield at June 30, 2021.
 
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of June 30, 2021.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                
INVESTMENTS:                
Common Stocks
  $9,295,018,793   $—   $—   $9,295,018,793
Short-Term Investment
  41,252,761   —   —   41,252,761
TOTAL INVESTMENTS
  $9,336,271,554   $—   $—   $9,336,271,554
Affiliate Table
  Number of
Shares Held
at
9/30/20 		  Value at

9/30/20 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
6/30/21 		  Value at

6/30/21 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
1,610,420   $1,610,743   $129,576,758   $89,935,314   $343   $231   41,240,389   $41,252,761   $5,213
State Street Navigator Securities Lending Portfolio II
2,983,864   2,983,864   463,669,919   466,653,783   —   —   —   —   —
Total
    $4,594,607   $593,246,677   $556,589,097   $343   $231       $41,252,761   $5,213
See accompanying notes to schedule of investments.
15
Table of Contents
THE REAL ESTATE SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS
June 30, 2021 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.8%   
EQUITY REAL ESTATE INVESTMENT TRUSTS (REITs) — 96.7%  
Alexandria Real Estate Equities, Inc. REIT
  502,052   $91,343,341
American Tower Corp. REIT
  1,663,890   449,483,244
AvalonBay Communities, Inc. REIT
  510,913   106,622,434
Boston Properties, Inc. REIT
  519,819   59,566,059
Crown Castle International Corp. REIT
  1,581,647   308,579,330
Digital Realty Trust, Inc. REIT
  1,030,521   155,052,190
Duke Realty Corp. REIT
  1,372,522   64,988,917
Equinix, Inc. REIT
  327,795   263,088,267
Equity Residential REIT
  1,259,325   96,968,025
Essex Property Trust, Inc. REIT
  237,879   71,366,079
Extra Space Storage, Inc. REIT
  489,426   80,177,767
Federal Realty Investment Trust REIT
  258,560   30,295,475
Healthpeak Properties, Inc. REIT
  1,972,612   65,668,253
Host Hotels & Resorts, Inc. REIT (a)
  2,584,735   44,173,121
Iron Mountain, Inc. REIT (b)
  1,056,993   44,731,944
Kimco Realty Corp. REIT
  1,581,844   32,981,447
Mid-America Apartment Communities, Inc. REIT
  419,047   70,575,896
Prologis, Inc. REIT
  2,707,224   323,594,485
Public Storage REIT
  557,092   167,511,993
Realty Income Corp. REIT
  1,367,228   91,248,797
Regency Centers Corp. REIT
  577,181   36,979,987
SBA Communications Corp. REIT
  400,147   127,526,849
Simon Property Group, Inc. REIT
  1,202,360   156,883,933
UDR, Inc. REIT
  1,084,655   53,126,402
Ventas, Inc. REIT
  1,372,986   78,397,501
Security Description     Shares   Value
Vornado Realty Trust REIT
  573,650   $26,772,245
Welltower, Inc. REIT
  1,527,996   126,976,467
Weyerhaeuser Co. REIT
  2,742,073   94,382,153
          3,319,062,601
REAL ESTATE MANAGEMENT & DEVELOPMENT — 3.1%  
CBRE Group, Inc. Class A (a)
  1,228,421   105,312,533
TOTAL COMMON STOCKS

(Cost $3,387,562,371)
        3,424,375,134
SHORT-TERM INVESTMENT — 0.0% (c)      
State Street Institutional Liquid Reserves Fund, Premier Class 0.05% (d) (e)

(Cost $545,878)
  545,716   545,879
TOTAL INVESTMENTS — 99.8%

(Cost $3,388,108,249)
  3,424,921,013  
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.2%
  6,874,989  
NET ASSETS — 100.0%
  $3,431,796,002  
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at June 30, 2021.
(c) Amount is less than 0.05% of net assets.
(d) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(e) The rate shown is the annualized seven-day yield at June 30, 2021.
REIT Real Estate Investment Trust
 
At June 30, 2021, open futures contracts purchased were as follows:
Description   Number of
Contracts 		  Expiration
Date 		  Notional
Amount 		  Value   Unrealized
Appreciation
(Depreciation)
E-mini S&P 500 Real Estate Select Sector Index   100   09/17/2021   $5,447,000   $5,410,000   $(37,000)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of June 30, 2021.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                
INVESTMENTS:                
Common Stocks
  $3,424,375,134   $—   $—   $3,424,375,134
Short-Term Investment
  545,879   —   —   545,879
TOTAL INVESTMENTS
  $3,424,921,013   $—   $—   $3,424,921,013
LIABILITIES:                
OTHER FINANCIAL INSTRUMENTS:                
Futures Contracts(a)
  (37,000)   —   —   (37,000)
TOTAL OTHER FINANCIAL INSTRUMENTS:
  $(37,000)   $—   $—   $(37,000)
    
See accompanying notes to schedule of investments.
16
Table of Contents
THE REAL ESTATE SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS  (continued)
June 30, 2021 (Unaudited)
(a) Futures Contracts are valued at unrealized appreciation (depreciation).
Affiliate Table
  Number of
Shares Held
at
9/30/20 		  Value at

9/30/20 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
6/30/21 		  Value at

6/30/21 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
6,434,272   $6,435,559   $85,997,285   $91,887,004   $(97)   $136   545,716   $545,879   $764
State Street Navigator Securities Lending Portfolio II
5,803,298   5,803,298   46,144,874   51,948,172   —   —   —   —   7,128
Total
    $12,238,857   $132,142,159   $143,835,176   $(97)   $136       $545,879   $7,892
See accompanying notes to schedule of investments.
17
Table of Contents
THE TECHNOLOGY SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS
June 30, 2021 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.7%   
COMMUNICATIONS EQUIPMENT — 3.0%  
Arista Networks, Inc. (a)
  233,615   $84,641,051
Cisco Systems, Inc.
  17,902,601   948,837,853
F5 Networks, Inc. (a)
  253,243   47,270,338
Juniper Networks, Inc.
  1,394,471   38,138,782
Motorola Solutions, Inc.
  720,760   156,296,806
          1,275,184,830
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 2.3%  
Amphenol Corp. Class A
  2,538,750   173,675,887
CDW Corp.
  595,598   104,021,191
Corning, Inc. (b)
  3,291,195   134,609,875
IPG Photonics Corp. (a)
  152,434   32,128,514
Keysight Technologies, Inc. (a)
  782,697   120,856,244
TE Connectivity, Ltd.
  1,404,670   189,925,431
Trimble, Inc. (a)
  1,066,813   87,297,308
Zebra Technologies Corp. Class A (a)
  227,257   120,330,309
          962,844,759
IT SERVICES — 18.7%  
Accenture PLC Class A
  2,700,363   796,040,009
Akamai Technologies, Inc. (a)
  693,783   80,895,098
Automatic Data Processing, Inc.
  1,807,649   359,035,244
Broadridge Financial Solutions, Inc.
  492,267   79,515,888
Cognizant Technology Solutions Corp. Class A
  2,240,539   155,179,731
DXC Technology Co. (a)
  1,081,953   42,131,250
Fidelity National Information Services, Inc.
  2,634,381   373,212,756
Fiserv, Inc. (a)
  2,528,802   270,303,646
FleetCor Technologies, Inc. (a)
  354,580   90,793,755
Gartner, Inc. (a)
  365,658   88,562,368
Global Payments, Inc.
  1,253,585   235,097,331
International Business Machines Corp.
  3,794,645   556,257,011
Jack Henry & Associates, Inc.
  315,551   51,595,744
Mastercard, Inc. Class A
  3,716,149   1,356,728,838
Paychex, Inc.
  1,364,439   146,404,305
PayPal Holdings, Inc. (a)
  4,990,440   1,454,613,451
VeriSign, Inc. (a)
  420,982   95,853,392
Visa, Inc. Class A (b)
  7,187,089   1,680,485,150
Western Union Co.
  1,745,917   40,103,713
          7,952,808,680
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 20.9%  
Advanced Micro Devices, Inc. (a)
  5,161,638   484,832,657
Analog Devices, Inc. (b)
  1,566,261   269,647,494
Applied Materials, Inc.
  3,896,778   554,901,187
Broadcom, Inc.
  1,734,571   827,112,836
Enphase Energy, Inc. (a)
  576,454   105,854,248
Intel Corp.
  17,154,078   963,029,939
KLA Corp.
  651,147   211,108,369
Security Description     Shares   Value
Lam Research Corp.
  605,886   $394,250,020
Maxim Integrated Products, Inc.
  1,139,410   120,048,238
Microchip Technology, Inc.
  1,161,987   173,995,933
Micron Technology, Inc. (a)
  4,763,893   404,835,627
Monolithic Power Systems, Inc.
  182,326   68,089,645
NVIDIA Corp.
  2,646,604   2,117,547,860
NXP Semiconductors NV
  1,171,448   240,990,283
Qorvo, Inc. (a)
  478,229   93,565,504
QUALCOMM, Inc.
  4,791,891   684,904,981
Skyworks Solutions, Inc.
  700,975   134,411,956
Teradyne, Inc.
  708,612   94,925,663
Texas Instruments, Inc.
  3,923,248   754,440,590
Xilinx, Inc.
  1,044,717   151,107,867
          8,849,600,897
SOFTWARE — 32.2%  
Adobe, Inc. (a)
  2,030,547   1,189,169,545
ANSYS, Inc. (a)
  370,263   128,503,477
Autodesk, Inc. (a)
  933,654   272,533,603
Cadence Design Systems, Inc. (a)
  1,184,251   162,029,222
Citrix Systems, Inc.
  527,490   61,858,752
Fortinet, Inc. (a)
  575,801   137,150,040
Intuit, Inc.
  1,160,832   569,005,021
Microsoft Corp.
  31,995,204   8,667,500,764
NortonLifeLock, Inc.
  2,473,468   67,327,799
Oracle Corp.
  7,717,350   600,718,524
Paycom Software, Inc. (a)
  208,585   75,814,390
PTC, Inc. (a)
  446,208   63,031,342
salesforce.com, Inc. (a)
  3,933,768   960,901,509
ServiceNow, Inc. (a)
  838,784   460,953,747
Synopsys, Inc. (a)
  648,057   178,727,640
Tyler Technologies, Inc. (a)
  172,504   78,035,635
          13,673,261,010
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 22.6%  
Apple, Inc.
  66,638,122   9,126,757,189
Hewlett Packard Enterprise Co.
  5,531,095   80,643,365
HP, Inc.
  5,103,084   154,062,106
NetApp, Inc.
  946,220   77,419,720
Seagate Technology Holdings PLC
  845,930   74,382,625
Western Digital Corp. (a)
  1,301,200   92,606,404
          9,605,871,409
TOTAL COMMON STOCKS

(Cost $29,944,993,610)
        42,319,571,585
SHORT-TERM INVESTMENTS — 0.3%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.05% (c) (d)
  104,425,092   104,456,420
 
See accompanying notes to schedule of investments.
18
Table of Contents
THE TECHNOLOGY SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS  (continued)
June 30, 2021 (Unaudited)
Security Description     Shares   Value
State Street Navigator Securities Lending Portfolio II (e) (f)
  10,091,069   $10,091,069
TOTAL SHORT-TERM INVESTMENTS

(Cost $114,528,852)
  114,547,489  
TOTAL INVESTMENTS — 100.0%

(Cost $30,059,522,462)
  42,434,119,074  
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0% (g)
  1,332,716  
NET ASSETS — 100.0%
  $42,435,451,790  
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at June 30, 2021.
(c) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(d) The rate shown is the annualized seven-day yield at June 30, 2021.
(e) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(f) Investment of cash collateral for securities loaned.
(g) Amount is less than 0.05% of net assets.
 
At June 30, 2021, open futures contracts purchased were as follows:
Description   Number of
Contracts 		  Expiration
Date 		  Notional
Amount 		  Value   Unrealized
Appreciation
(Depreciation)
E-mini S&P 500 Technology Select Sector Index   745   09/17/2021   $106,369,610   $110,759,150   $4,389,540
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of June 30, 2021.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                
INVESTMENTS:                
Common Stocks
  $42,319,571,585   $—   $—   $42,319,571,585
Short-Term Investments
  114,547,489   —   —   114,547,489
TOTAL INVESTMENTS
  $42,434,119,074   $—   $—   $42,434,119,074
OTHER FINANCIAL INSTRUMENTS:                
Futures Contracts(a)
  4,389,540   —   —   4,389,540
TOTAL OTHER FINANCIAL INSTRUMENTS:
  $4,389,540   $—   $—   $4,389,540
TOTAL INVESTMENTS AND OTHER FINANCIAL INSTRUMENTS
  $42,438,508,614   $—   $—   $42,438,508,614
(a) Futures Contracts are valued at unrealized appreciation (depreciation).
Affiliate Table
  Number of
Shares Held
at
9/30/20 		  Value at

9/30/20 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
6/30/21 		  Value at

6/30/21 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
50,198,726   $50,208,766   $510,420,328   $456,176,556   $1,855   $2,027   104,425,092   $104,456,420   $30,792
State Street Navigator Securities Lending Portfolio II
—   —   633,617,377   623,526,308   —   —   10,091,069   10,091,069   22,057
Total
    $50,208,766   $1,144,037,705   $1,079,702,864   $1,855   $2,027       $114,547,489   $52,849
See accompanying notes to schedule of investments.
19
Table of Contents
THE UTILITIES SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS
June 30, 2021 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.8%   
ELECTRIC UTILITIES — 63.0%  
Alliant Energy Corp.
  3,216,060   $179,327,506
American Electric Power Co., Inc.
  6,431,144   544,010,471
Duke Energy Corp.
  9,890,230   976,363,506
Edison International
  4,878,597   282,080,478
Entergy Corp.
  2,579,961   257,222,112
Evergy, Inc.
  2,939,374   177,626,371
Eversource Energy
  4,416,022   354,341,605
Exelon Corp.
  12,564,026   556,711,992
FirstEnergy Corp.
  6,993,162   260,215,558
NextEra Energy, Inc.
  25,219,252   1,848,066,786
NRG Energy, Inc.
  3,146,915   126,820,674
Pinnacle West Capital Corp. (a)
  1,459,114   119,603,575
PPL Corp.
  9,892,876   276,703,742
Southern Co.
  13,611,333   823,621,760
Xcel Energy, Inc. (a)
  6,919,965   455,887,294
          7,238,603,430
GAS UTILITIES — 1.4%  
Atmos Energy Corp. (a)
  1,680,079   161,472,393
INDEPENDENT POWER & RENEWABLE ELECTRICITY PRODUCERS — 2.0%  
AES Corp.
  8,566,351   223,324,771
MULTI-UTILITIES — 30.3%  
Ameren Corp.
  3,281,242   262,630,610
CenterPoint Energy, Inc.
  7,463,720   183,010,414
CMS Energy Corp.
  3,721,758   219,881,463
Consolidated Edison, Inc.
  4,407,695   316,119,885
Dominion Energy, Inc.
  10,369,941   762,916,559
DTE Energy Co.
  2,490,856   322,814,938
NiSource, Inc.
  5,073,686   124,305,307
Public Service Enterprise Group, Inc.
  6,494,219   387,964,643
Security Description     Shares   Value
Sempra Energy
  4,051,066   $536,685,224
WEC Energy Group, Inc.
  4,055,658   360,750,779
          3,477,079,822
WATER UTILITIES — 3.1%  
American Water Works Co., Inc.
  2,333,248   359,623,514
TOTAL COMMON STOCKS

(Cost $12,440,958,485)
        11,460,103,930
SHORT-TERM INVESTMENTS — 0.3%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.05% (b) (c)
  15,795,146   15,799,884
State Street Navigator Securities Lending Portfolio II (d) (e)
  18,747,342   18,747,342
TOTAL SHORT-TERM INVESTMENTS

(Cost $34,543,102)
  34,547,226  
TOTAL INVESTMENTS — 100.1%

(Cost $12,475,501,587)
  11,494,651,156  
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.1)%
  (8,609,474)  
NET ASSETS — 100.0%
  $11,486,041,682  
(a) All or a portion of the shares of the security are on loan at June 30, 2021.
(b) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(c) The rate shown is the annualized seven-day yield at June 30, 2021.
(d) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below.
(e) Investment of cash collateral for securities loaned.
 
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of June 30, 2021.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                
INVESTMENTS:                
Common Stocks
  $11,460,103,930   $—   $—   $11,460,103,930
Short-Term Investments
  34,547,226   —   —   34,547,226
TOTAL INVESTMENTS
  $11,494,651,156   $—   $—   $11,494,651,156
See accompanying notes to schedule of investments.
20
Table of Contents
THE UTILITIES SELECT SECTOR SPDR FUND
SCHEDULE OF INVESTMENTS  (continued)
June 30, 2021 (Unaudited)
Affiliate Table
  Number of
Shares Held
at
9/30/20 		  Value at

9/30/20 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
6/30/21 		  Value at

6/30/21 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
25,585,277   $25,590,394   $437,334,175   $447,127,962   $3,807   $(530)   15,795,146   $15,799,884   $11,409
State Street Navigator Securities Lending Portfolio II
1,859,303   1,859,303   485,845,074   468,957,035   —   —   18,747,342   18,747,342   7,736
Total
    $27,449,697   $923,179,249   $916,084,997   $3,807   $(530)       $34,547,226   $19,145
See accompanying notes to schedule of investments.
21
Table of Contents
THE SELECT SECTOR SPDR TRUST
NOTES TO SCHEDULES OF INVESTMENTS
June 30, 2021 (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 of Trustees of the Trust (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 June 30, 2021, is disclosed in each Fund’s respective Schedule of Investments.
22
Table of Contents
THE SELECT SECTOR SPDR TRUST
NOTES TO SCHEDULES OF INVESTMENTS  (continued)
June 30, 2021 (Unaudited)
Futures Contracts
The Funds may enter into futures contracts to meet the Funds’ objectives. A futures contract is a standardized, exchange-traded agreement to buy or sell a financial instrument at a set price on a future date. Upon entering into a futures contract, the Fund is required to deposit with the broker, cash or securities in an amount equal to the minimum initial margin requirements of the clearing house. Securities deposited, if any, are designated on the Schedules of Investments. Subsequent payments are made or received by 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 Fund recognizes a realized gain or loss when the contract is closed.
Losses may arise if the value of a futures contract decreases due to unfavorable changes in the market rates or values of the underlying instrument during the term of the contract or if the counterparty does not perform under the contract. The use of futures contracts also involves the risk that the movements in the price of the futures contracts do not correlate 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 June 30, 2021 are disclosed in the 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.
23