Quarterly Report
May 31, 2026
SSGA Active Trust
State Street My2026 Corporate Bond ETF (formerly SPDR SSGA My2026 Corporate Bond ETF)
State Street My2027 Corporate Bond ETF (formerly SPDR SSGA My2027 Corporate Bond ETF)
State Street My2028 Corporate Bond ETF (formerly SPDR SSGA My2028 Corporate Bond ETF)
State Street My2029 Corporate Bond ETF (formerly SPDR SSGA My2029 Corporate Bond ETF)
State Street My2030 Corporate Bond ETF (formerly SPDR SSGA My2030 Corporate Bond ETF)
State Street My2031 Corporate Bond ETF (formerly SPDR SSGA My2031 Corporate Bond ETF)
State Street My2032 Corporate Bond ETF (formerly SPDR SSGA My2032 Corporate Bond ETF)
State Street My2033 Corporate Bond ETF (formerly SPDR SSGA My2033 Corporate Bond ETF)
State Street My2034 Corporate Bond ETF (formerly SPDR SSGA My2034 Corporate Bond ETF)
State Street My2035 Corporate Bond ETF (formerly SPDR SSGA My2035 Corporate Bond ETF)
State Street My2027 High Yield Corporate Bond ETF
State Street My2028 High Yield Corporate Bond ETF
State Street My2029 High Yield Corporate Bond ETF
State Street My2030 High Yield Corporate Bond ETF
State Street My2031 High Yield Corporate Bond ETF
State Street My2026 Municipal Bond ETF (formerly SPDR SSGA My2026 Municipal Bond ETF)
State Street My2027 Municipal Bond ETF (formerly SPDR SSGA My2027 Municipal Bond ETF)
State Street My2028 Municipal Bond ETF (formerly SPDR SSGA My2028 Municipal Bond ETF)
State Street My2029 Municipal Bond ETF (formerly SPDR SSGA My2029 Municipal Bond ETF)
State Street My2030 Municipal Bond ETF (formerly SPDR SSGA My2030 Municipal Bond ETF)
State Street My2031 Municipal Bond ETF (formerly SPDR SSGA My2031 Municipal Bond ETF)


TABLE OF CONTENTS (Unaudited)
1
5
10
18
24
30
35
39
43
47
51
55
60
66
71
76
80
84
88
93
97
101

STATE STREET MY2026 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 97.6%
AEROSPACE & DEFENSE — 2.0%
Boeing Co.
2.25%, 6/15/2026
$45,000
$44,964
RTX Corp.
5.75%, 11/8/2026
870,000
874,898
 
919,862
AGRICULTURE — 1.5%
Altria Group, Inc.
2.63%, 9/16/2026
236,000
235,014
Bunge Ltd. Finance Corp.
3.25%, 8/15/2026
55,000
54,862
Imperial Brands Finance PLC
3.50%, 7/26/2026 (a)
430,000
429,338
 
719,214
AUTO MANUFACTURERS — 10.7%
American Honda Finance Corp.:
Series MTN, 1.30%, 9/9/2026
155,000
153,741
Series GMTN, 2.30%, 9/9/2026
40,000
39,776
Ford Motor Co.
4.35%, 12/8/2026
1,340,000
1,337,347
Ford Motor Credit Co. LLC:
2.70%, 8/10/2026
91,000
90,669
4.54%, 8/1/2026 (b)
80,000
79,985
5.13%, 11/5/2026
750,000
751,560
General Motors Financial Co., Inc.
1.50%, 6/10/2026
285,000
284,778
Hyundai Capital America
2.75%, 9/27/2026 (a)
200,000
198,912
Nissan Motor Acceptance Co. LLC
1.85%, 9/16/2026 (a)
500,000
494,525
Toyota Motor Credit Corp.
Series MTN, 5.00%, 8/14/2026
37,000
37,071
Volkswagen Group of America
Finance LLC
6.00%, 11/16/2026 (a)
1,500,000
1,509,705
 
4,978,069
BANKS — 11.2%
Bank of America Corp.
6.22%, 9/15/2026
345,000
346,866
Bank of Nova Scotia
5.35%, 12/7/2026
250,000
251,573
Citibank NA
5.49%, 12/4/2026
165,000
166,021
Citigroup, Inc.:
3.20%, 10/21/2026
150,000
149,466
4.30%, 11/20/2026
330,000
329,865
Citizens Financial Group, Inc.
2.85%, 7/27/2026
350,000
349,062
Commonwealth Bank of Australia
4.58%, 11/27/2026
250,000
250,625
Goldman Sachs Group, Inc.:
3.50%, 11/16/2026
772,000
769,615
Security Description
 
Principal
Amount
Value
SOFR + 1.51%, 4.39%,
6/15/2027 (c)
$375,000
$375,004
JPMorgan Chase & Co.
2.95%, 10/1/2026
300,000
298,896
Mitsubishi UFJ Financial Group,
Inc.
2.76%, 9/13/2026
150,000
149,342
Mizuho Financial Group, Inc.
2.84%, 9/13/2026
189,000
188,284
Morgan Stanley
3.95%, 4/23/2027
350,000
349,191
PNC Financial Services Group,
Inc.:
1.15%, 8/13/2026
146,000
145,128
2.60%, 7/23/2026
145,000
144,685
Royal Bank of Canada
Series GMTN, 1.40%,
11/2/2026
250,000
247,243
Sumitomo Mitsui Financial Group,
Inc.:
1.40%, 9/17/2026
319,000
316,467
2.63%, 7/14/2026
250,000
249,570
Truist Bank
3.80%, 10/30/2026
115,000
114,849
 
5,191,752
BEVERAGES — 0.4%
Molson Coors Beverage Co.
3.00%, 7/15/2026
150,000
149,727
PepsiCo, Inc.
2.38%, 10/6/2026
36,000
35,794
 
185,521
BIOTECHNOLOGY — 0.3%
Amgen, Inc.
2.60%, 8/19/2026
125,000
124,539
CHEMICALS — 3.7%
Chevron Phillips Chemical Co.
LLC/Chevron Phillips Chemical
Co. LP
3.40%, 12/1/2026 (a) (b)
1,745,000
1,735,926
COMPUTERS — 0.9%
Kyndryl Holdings, Inc.
2.05%, 10/15/2026
400,000
396,080
DIVERSIFIED FINANCIAL SERVICES — 4.1%
AerCap Ireland Capital
DAC/AerCap Global Aviation
Trust
2.45%, 10/29/2026
300,000
297,888
Charles Schwab Corp.
5.88%, 8/24/2026
619,000
620,690
Hercules Capital, Inc.
2.63%, 9/16/2026
750,000
744,930
Rocket Mortgage LLC/Rocket
Mortgage Co-Issuer, Inc.
2.88%, 10/15/2026 (a)
200,000
198,538
See accompanying notes to Schedule of Investments.
1

STATE STREET MY2026 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Sumisho Air Lease Corp.
Series MTN, 5.30%, 6/25/2026
$55,000
$55,010
 
1,917,056
ELECTRIC — 4.8%
AEP Transmission Co. LLC
3.10%, 12/1/2026
210,000
209,026
Dominion Energy, Inc.
Series D, 2.85%, 8/15/2026
135,000
134,561
DTE Energy Co.
2.85%, 10/1/2026
260,000
258,788
Duke Energy Carolinas LLC
2.95%, 12/1/2026
175,000
174,027
Emera U.S. Finance LP
3.55%, 6/15/2026
115,000
114,936
Entergy Corp.
2.95%, 9/1/2026
145,000
144,546
Fortis, Inc.
3.06%, 10/4/2026
250,000
248,885
Sempra
5.40%, 8/1/2026
390,000
390,312
Vistra Operations Co. LLC:
3.70%, 1/30/2027 (a)
50,000
49,741
5.05%, 12/30/2026 (a)
230,000
230,653
Xcel Energy, Inc.
3.35%, 12/1/2026
250,000
248,865
 
2,204,340
ELECTRONICS — 0.9%
Honeywell International, Inc.
2.50%, 11/1/2026
400,000
397,320
ENTERTAINMENT — 0.2%
Discovery Global Holdings, Inc.
3.76%, 3/15/2027
95,000
93,547
FOOD — 1.5%
Conagra Brands, Inc.
5.30%, 10/1/2026
205,000
205,582
Ingredion, Inc.
3.20%, 10/1/2026
90,000
89,696
Kraft Heinz Foods Co.
3.00%, 6/1/2026
70,000
70,000
Kroger Co.
2.65%, 10/15/2026
246,000
244,659
Sysco Corp.
3.30%, 7/15/2026
95,000
94,869
 
704,806
HEALTH CARE PRODUCTS — 0.7%
Agilent Technologies, Inc.
3.05%, 9/22/2026
150,000
149,449
Solventum Corp.
5.45%, 2/25/2027
42,000
42,231
Thermo Fisher Scientific, Inc.
4.95%, 8/10/2026
125,000
125,106
 
316,786
Security Description
 
Principal
Amount
Value
HEALTH CARE SERVICES — 0.1%
Premier Health Partners
Series G, 2.91%, 11/15/2026
$45,000
$44,451
INSURANCE — 2.5%
Aflac, Inc.
2.88%, 10/15/2026
25,000
24,869
Allstate Corp.
3.28%, 12/15/2026
165,000
164,223
Arch Capital Finance LLC
4.01%, 12/15/2026
75,000
74,928
Athene Global Funding
2.95%, 11/12/2026 (a)
750,000
744,810
Corebridge Global Funding
5.75%, 7/2/2026 (a)
30,000
30,032
Principal Financial Group, Inc.
3.10%, 11/15/2026
100,000
99,476
 
1,138,338
INTERNET — 0.3%
Netflix, Inc.
4.38%, 11/15/2026
120,000
120,185
INVESTMENT COMPANY SECURITIES — 8.6%
Bain Capital Specialty Finance,
Inc.
2.55%, 10/13/2026
1,640,000
1,625,584
Blackstone Private Credit Fund
2.63%, 12/15/2026
2,100,000
2,075,031
Golub Capital BDC, Inc.
2.50%, 8/24/2026
250,000
248,608
Sixth Street Specialty Lending,
Inc.
2.50%, 8/1/2026
55,000
54,723
 
4,003,946
LODGING — 0.9%
Las Vegas Sands Corp.
3.50%, 8/18/2026
400,000
399,652
MEDIA — 0.2%
Walt Disney Co.
3.38%, 11/15/2026
75,000
74,759
MINING — 0.9%
BHP Billiton Finance USA Ltd.
5.25%, 9/8/2026
235,000
235,642
Glencore Funding LLC
4.00%, 3/27/2027 (a)
185,000
184,552
 
420,194
OFFICE & BUSINESS EQUIPMENT — 2.8%
CDW LLC/CDW Finance Corp.
2.67%, 12/1/2026
1,330,000
1,318,083
OIL & GAS — 2.7%
Diamondback Energy, Inc.
3.25%, 12/1/2026
292,000
290,817
Exxon Mobil Corp.
2.28%, 8/16/2026
15,000
14,943
See accompanying notes to Schedule of Investments.
2

STATE STREET MY2026 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Marathon Petroleum Corp.
5.13%, 12/15/2026
$965,000
$967,577
 
1,273,337
PHARMACEUTICALS — 9.2%
AbbVie, Inc.
2.95%, 11/21/2026
683,000
679,742
Bayer U.S. Finance LLC
6.13%, 11/21/2026 (a)
2,100,000
2,112,516
CVS Health Corp.:
2.88%, 6/1/2026
610,000
610,000
3.00%, 8/15/2026
155,000
154,560
McKesson Corp.
1.30%, 8/15/2026
95,000
94,443
Utah Acquisition Sub, Inc.
3.95%, 6/15/2026
600,000
599,688
 
4,250,949
PIPELINES — 3.4%
Enbridge, Inc.
4.25%, 12/1/2026
42,000
42,003
Energy Transfer LP:
3.90%, 7/15/2026
35,000
34,972
6.05%, 12/1/2026
510,000
513,758
ONEOK, Inc.
5.55%, 11/1/2026
325,000
326,401
Plains All American
Pipeline LP/PAA Finance Corp.
4.50%, 12/15/2026
500,000
500,520
Spectra Energy Partners LP
3.38%, 10/15/2026
182,000
181,345
 
1,598,999
REAL ESTATE INVESTMENT TRUSTS — 16.8%
American Tower Corp.
3.38%, 10/15/2026
400,000
398,664
Boston Properties LP
2.75%, 10/1/2026
956,000
951,191
Camden Property Trust
5.85%, 11/3/2026
525,000
527,798
EPR Properties
4.75%, 12/15/2026
400,000
399,980
Healthpeak OP LLC
3.25%, 7/15/2026
50,000
49,921
Kimco Realty OP LLC
2.80%, 10/1/2026
225,000
223,965
Kite Realty Group LP
4.00%, 10/1/2026
875,000
873,180
SBA Communications Corp.
3.88%, 2/15/2027
700,000
694,659
Tanger Properties LP
3.13%, 9/1/2026
730,000
727,730
VICI Properties LP/VICI Note Co.,
Inc.
4.25%, 12/1/2026 (a)
2,100,000
2,096,220
Vornado Realty LP
2.15%, 6/1/2026
855,000
855,000
 
7,798,308
Security Description
 
Principal
Amount
Value
RETAIL — 1.8%
AutoZone, Inc.
5.05%, 7/15/2026
$287,000
$287,178
O'Reilly Automotive, Inc.
5.75%, 11/20/2026
550,000
553,102
 
840,280
SEMICONDUCTORS — 1.1%
Advanced Micro Devices, Inc.
4.21%, 9/24/2026
60,000
59,997
Skyworks Solutions, Inc.
1.80%, 6/1/2026
200,000
200,000
TSMC Arizona Corp.
1.75%, 10/25/2026
256,000
253,745
 
513,742
SOFTWARE — 2.1%
Concentrix Corp.
6.65%, 8/2/2026
172,000
172,162
Fiserv, Inc.
3.20%, 7/1/2026
310,000
309,718
Intuit, Inc.
5.25%, 9/15/2026
48,000
48,110
Oracle Corp.
2.65%, 7/15/2026
125,000
124,741
Roper Technologies, Inc.
3.80%, 12/15/2026
244,000
243,517
Synopsys, Inc.
4.55%, 4/1/2027
95,000
95,278
 
993,526
TELECOMMUNICATIONS — 0.4%
AT&T, Inc.
2.95%, 7/15/2026
196,000
195,682
TRANSPORTATION — 0.9%
GXO Logistics, Inc.
1.65%, 7/15/2026
350,000
348,435
Norfolk Southern Corp.
2.90%, 6/15/2026
75,000
74,935
 
423,370
TOTAL CORPORATE BONDS &
NOTES
(Cost $45,304,107)
45,292,619
 
 
Shares
 
SHORT-TERM INVESTMENTS — 1.8%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (d) (e)
637,056
637,056
See accompanying notes to Schedule of Investments.
3

STATE STREET MY2026 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Shares
Value
State Street Navigator Securities
Lending Portfolio II (f) (g)
181,910
$181,910
TOTAL SHORT-TERM INVESTMENTS
(Cost $818,966)
818,966
TOTAL INVESTMENTS — 99.4%
(Cost $46,123,073)
46,111,585
OTHER ASSETS IN EXCESS OF LIABILITIES
— 0.6%
265,153
NET ASSETS — 100.0%
$46,376,738
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 21.6% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
All or a portion of the shares of the security are on loan at
May 31, 2026.
(c)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(d)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(e)
The rate shown is the annualized seven-day yield at
May 31, 2026.
(f)
The Fund invested in an affiliated entity. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(g)
Investment of cash collateral for securities loaned.
Abbreviations:
 
GMTN
Global Medium Term Note
MTN
Medium Term Note
SOFR
Secured Overnight Financing Rate
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$45,292,619
$
$45,292,619
Short-Term Investments
818,966
818,966
TOTAL INVESTMENTS
$818,966
$45,292,619
$
$46,111,585
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier
Class
256,179
$256,179
$16,353,162
$15,972,285
$
$
637,056
$637,056
$11,724
State Street Navigator Securities Lending Portfolio II
358,575
358,575
11,125,977
11,302,642
181,910
181,910
841
Total
$614,754
$27,479,139
$27,274,927
$
$
$818,966
$12,565
See accompanying notes to Schedule of Investments.
4

STATE STREET MY2027 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 97.7%
AEROSPACE & DEFENSE — 4.1%
Boeing Co.
6.26%, 5/1/2027
$306,000
$310,926
Honeywell Aerospace, Inc.
3.90%, 3/16/2028 (a)
75,000
74,406
L3Harris Technologies, Inc.
5.40%, 1/15/2027
485,000
488,303
RTX Corp.
3.13%, 5/4/2027
350,000
346,871
 
1,220,506
AGRICULTURE — 3.5%
BAT Capital Corp.:
3.56%, 8/15/2027
144,000
142,717
4.70%, 4/2/2027
395,000
396,189
Bunge Ltd. Finance Corp.
3.75%, 9/25/2027
155,000
153,916
Philip Morris International, Inc.
5.13%, 11/17/2027 (b)
350,000
353,976
 
1,046,798
APPAREL — 0.5%
Tapestry, Inc.
4.13%, 7/15/2027
145,000
144,466
AUTO MANUFACTURERS — 4.4%
American Honda Finance Corp.
4.90%, 3/12/2027
50,000
50,188
Ford Motor Credit Co. LLC
5.80%, 3/5/2027
430,000
433,126
General Motors Co.
6.80%, 10/1/2027
675,000
693,124
Toyota Motor Credit Corp.:
Series MTN, 1.15%, 8/13/2027
50,000
48,331
Series MTN, 4.55%, 9/20/2027
(b)
110,000
110,604
 
1,335,373
BANKS — 12.3%
Bank of America Corp.
SOFR + 1.58%, 4.38%,
4/27/2028 (c)
400,000
399,876
Bank of Montreal
Series MTN, 2.65%, 3/8/2027
30,000
29,685
Citigroup, Inc.
SOFR + 1.89%, 4.66%,
5/24/2028 (c)
175,000
175,483
Deutsche Bank AG
SOFR + 1.59%, 5.71%,
2/8/2028 (c)
375,000
378,041
Goldman Sachs Group, Inc.:
3 mo. USD Term SOFR +
1.77%, 3.69%, 6/5/2028 (c)
175,000
173,807
3.85%, 1/26/2027
118,000
117,739
ING Groep NV
3.95%, 3/29/2027
107,000
106,848
Security Description
 
Principal
Amount
Value
JPMorgan Chase & Co.
SOFR + 0.93%, 5.57%,
4/22/2028 (c)
$200,000
$202,130
Manufacturers & Traders Trust Co.
3.40%, 8/17/2027
110,000
108,545
Mitsubishi UFJ Financial Group,
Inc.
3.68%, 2/22/2027
150,000
149,328
Mizuho Financial Group, Inc.
3.66%, 2/28/2027
110,000
109,538
Morgan Stanley
Series MTN, SOFR + 1.01%,
5.65%, 4/13/2028 (c)
300,000
303,171
PNC Financial Services Group,
Inc.
SOFR + 1.73%, 6.62%,
10/20/2027 (c)
100,000
100,856
Royal Bank of Canada
Series MTN, 6.00%, 11/1/2027
187,000
191,574
Santander Holdings USA, Inc.
4.40%, 7/13/2027
580,000
579,994
Truist Financial Corp.:
Series MTN, 1.13%, 8/3/2027
10,000
9,655
Series MTN, SOFR + 1.37%,
4.12%, 6/6/2028 (c)
100,000
99,764
Wells Fargo & Co.
Series MTN, SOFR + 1.07%,
5.71%, 4/22/2028 (c)
325,000
328,643
Westpac Banking Corp.
3.35%, 3/8/2027
120,000
119,379
 
3,684,056
BEVERAGES — 0.2%
Keurig Dr. Pepper, Inc.
3.43%, 6/15/2027
60,000
59,403
BIOTECHNOLOGY — 3.2%
Amgen, Inc.:
2.20%, 2/21/2027
190,000
187,279
3.20%, 11/2/2027
70,000
68,990
CSL Finance PLC
3.85%, 4/27/2027 (a)
20,000
19,900
Gilead Sciences, Inc.
2.95%, 3/1/2027
160,000
158,717
Illumina, Inc.
5.75%, 12/13/2027
100,000
101,698
Royalty Pharma PLC
1.75%, 9/2/2027
425,000
411,264
 
947,848
BUILDING MATERIALS — 0.1%
Lennox International, Inc.
1.70%, 8/1/2027
35,000
33,976
COMMERCIAL SERVICES — 0.4%
Equifax, Inc.
5.10%, 12/15/2027
20,000
20,179
See accompanying notes to Schedule of Investments.
5

STATE STREET MY2027 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Global Payments, Inc.
4.95%, 8/15/2027
$95,000
$95,331
 
115,510
COMPUTERS — 1.9%
Apple, Inc.
3.00%, 6/20/2027 (b)
100,000
99,078
Dell International LLC/EMC Corp.
6.10%, 7/15/2027
60,000
60,997
International Business Machines
Corp.:
4.15%, 7/27/2027
295,000
294,749
6.22%, 8/1/2027
100,000
102,202
 
557,026
DIVERSIFIED FINANCIAL SERVICES — 5.0%
AerCap Ireland Capital
DAC/AerCap Global Aviation
Trust:
3.65%, 7/21/2027
236,000
233,770
6.45%, 4/15/2027
284,000
288,760
Ally Financial, Inc.:
4.75%, 6/9/2027
73,000
73,260
7.10%, 11/15/2027
20,000
20,674
American Express Co.
5.85%, 11/5/2027
173,000
176,809
Capital One Financial Corp.
3.75%, 3/9/2027
20,000
19,932
Charles Schwab Corp.
3.30%, 4/1/2027
230,000
228,689
Jefferies Financial Group, Inc.
4.85%, 1/15/2027
65,000
65,125
ORIX Corp.
5.00%, 9/13/2027
20,000
20,126
Rocket Mortgage LLC/Rocket
Mortgage Co-Issuer, Inc.
2.88%, 10/15/2026 (a)
300,000
297,807
Sumisho Air Lease Corp.
4.40%, 3/24/2028 (a)
80,000
79,638
 
1,504,590
ELECTRIC — 11.2%
Alabama Power Co.
3.75%, 9/1/2027
125,000
124,425
American Electric Power Co., Inc.
5.75%, 11/1/2027
110,000
111,949
Appalachian Power Co.
Series X, 3.30%, 6/1/2027
275,000
272,332
CenterPoint Energy Houston
Electric LLC
Series AA, 3.00%, 2/1/2027
185,000
183,679
Commonwealth Edison Co.
Series 122, 2.95%, 8/15/2027
154,000
151,812
Consolidated Edison Co. of New
York, Inc.
Series B, 3.13%, 11/15/2027
85,000
83,694
DTE Energy Co.
4.95%, 7/1/2027
243,000
244,528
Security Description
 
Principal
Amount
Value
Duke Energy Corp.
5.00%, 12/8/2027
$210,000
$212,039
Evergy Kansas Central, Inc.
3.10%, 4/1/2027
95,000
94,243
FirstEnergy Corp.
Series B, 3.90%, 7/15/2027
330,000
327,967
Florida Power & Light Co.
Series A, 3.30%, 5/30/2027
150,000
148,972
ITC Holdings Corp.
3.35%, 11/15/2027
45,000
44,340
National Rural Utilities Cooperative
Finance Corp.
Series MTN, 5.10%, 5/6/2027
80,000
80,653
NextEra Energy Capital Holdings,
Inc.
3.55%, 5/1/2027
75,000
74,564
Pacific Gas & Electric Co.:
3.30%, 3/15/2027
215,000
213,280
5.45%, 6/15/2027
229,000
231,334
Sempra
3.25%, 6/15/2027
175,000
172,968
Southern California Edison Co.
Series D, 4.70%, 6/1/2027
199,000
199,488
Southern Co.
5.11%, 8/1/2027
65,000
65,508
Virginia Electric & Power Co.
Series A, 3.50%, 3/15/2027
95,000
94,545
Vistra Operations Co. LLC:
3.70%, 1/30/2027 (a)
30,000
29,844
5.05%, 12/30/2026 (a)
120,000
120,341
WEC Energy Group, Inc.:
1.38%, 10/15/2027
61,000
58,624
5.15%, 10/1/2027
20,000
20,183
 
3,361,312
ELECTRONICS — 0.1%
Keysight Technologies, Inc.
4.60%, 4/6/2027
35,000
35,065
ENTERTAINMENT — 0.3%
Discovery Global Holdings, Inc.
3.76%, 3/15/2027
100,000
98,471
FOOD — 1.9%
Campbell's Co.
5.20%, 3/19/2027
165,000
166,160
Conagra Brands, Inc.
1.38%, 11/1/2027
125,000
119,451
Sysco Corp.
3.25%, 7/15/2027
95,000
93,919
Tyson Foods, Inc.
3.55%, 6/2/2027
195,000
193,699
 
573,229
HEALTH CARE PRODUCTS — 0.4%
Smith & Nephew PLC
5.15%, 3/20/2027
105,000
105,464
See accompanying notes to Schedule of Investments.
6

STATE STREET MY2027 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Solventum Corp.
5.45%, 2/25/2027
$28,000
$28,154
 
133,618
HEALTH CARE SERVICES — 2.4%
Centene Corp.
4.25%, 12/15/2027
190,000
189,468
HCA, Inc.
4.50%, 2/15/2027
525,000
524,927
 
714,395
HOME BUILDERS — 1.3%
Lennar Corp.
4.75%, 11/29/2027
230,000
230,499
Meritage Homes Corp.
5.13%, 6/6/2027
45,000
45,063
Toll Brothers Finance Corp.
4.88%, 3/15/2027
100,000
100,190
 
375,752
HOME FURNISHINGS — 0.1%
Leggett & Platt, Inc.
3.50%, 11/15/2027
35,000
34,275
HOUSEHOLD PRODUCTS & WARES — 0.6%
Church & Dwight Co., Inc.
3.15%, 8/1/2027
190,000
187,631
INSURANCE — 1.7%
Corebridge Financial, Inc.
3.65%, 4/5/2027
304,000
302,431
Lincoln Financial Global Funding
4.63%, 5/28/2028 (a)
50,000
50,024
Markel Group, Inc.
3.50%, 11/1/2027
55,000
54,278
RenaissanceRe Finance, Inc.
3.45%, 7/1/2027
45,000
44,647
Willis North America, Inc.
4.65%, 6/15/2027
64,000
64,173
 
515,553
INTERNET — 1.6%
Alibaba Group Holding Ltd.
3.40%, 12/6/2027
160,000
158,221
Amazon.com, Inc.:
3.85%, 3/13/2028
30,000
29,870
4.55%, 12/1/2027
206,000
207,555
Expedia Group, Inc.
4.63%, 8/1/2027
75,000
75,115
 
470,761
INVESTMENT COMPANY SECURITIES — 1.3%
FS KKR Capital Corp.
2.63%, 1/15/2027
404,000
396,243
IRON/STEEL — 2.1%
ArcelorMittal SA
6.55%, 11/29/2027
605,000
621,940
Security Description
 
Principal
Amount
Value
LODGING — 3.3%
Hyatt Hotels Corp.
5.75%, 1/30/2027
$205,000
$206,583
Las Vegas Sands Corp.
5.90%, 6/1/2027
550,000
556,633
Sands China Ltd.
2.30%, 3/8/2027
224,000
220,174
 
983,390
MACHINERY-DIVERSIFIED — 1.1%
CNH Industrial NV
Series MTN, 3.85%,
11/15/2027
209,000
207,190
Ingersoll Rand, Inc.
5.20%, 6/15/2027
110,000
110,881
 
318,071
MEDIA — 1.9%
FactSet Research Systems, Inc.
2.90%, 3/1/2027
45,000
44,488
Paramount Global
2.90%, 1/15/2027
535,000
527,157
 
571,645
MINING — 1.3%
Freeport-McMoRan, Inc.
5.00%, 9/1/2027
115,000
115,022
Glencore Funding LLC
4.00%, 3/27/2027 (a)
265,000
264,358
Yamana Gold, Inc.
4.63%, 12/15/2027
20,000
19,963
 
399,343
MISCELLANEOUS MANUFACTURER — 0.4%
Textron, Inc.
3.65%, 3/15/2027
115,000
114,481
OIL & GAS — 3.6%
BP Capital Markets America, Inc.:
3.59%, 4/14/2027
40,000
39,851
5.02%, 11/17/2027
225,000
227,457
BP Capital Markets PLC
3.28%, 9/19/2027
118,000
116,972
Canadian Natural Resources Ltd.
3.85%, 6/1/2027
54,000
53,787
Coterra Energy, Inc.
3.90%, 5/15/2027
240,000
239,261
Diamondback Energy, Inc.
5.20%, 4/18/2027
335,000
337,801
Phillips 66 Co.
4.95%, 12/1/2027
75,000
75,600
 
1,090,729
OIL & GAS SERVICES — 0.2%
Schlumberger Holdings Corp.
5.00%, 5/29/2027 (a)
75,000
75,569
PACKAGING & CONTAINERS — 1.4%
Berry Global, Inc.
1.65%, 1/15/2027
315,000
309,604
See accompanying notes to Schedule of Investments.
7

STATE STREET MY2027 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Sonoco Products Co.
2.25%, 2/1/2027
$100,000
$98,552
 
408,156
PHARMACEUTICALS — 4.8%
AbbVie, Inc.
4.80%, 3/15/2027
225,000
226,310
Bayer Corp.
6.65%, 2/15/2028 (a)
500,000
516,290
Becton Dickinson & Co.
3.70%, 6/6/2027
100,000
99,414
Cencora, Inc.
3.45%, 12/15/2027
60,000
59,179
CVS Health Corp.
6.25%, 6/1/2027
195,000
198,699
Mylan, Inc.
4.55%, 4/15/2028
200,000
199,056
Viatris, Inc.
2.30%, 6/22/2027
160,000
156,093
 
1,455,041
PIPELINES — 3.5%
Cheniere Corpus Christi
Holdings LLC
5.13%, 6/30/2027
40,000
40,172
Energy Transfer LP
5.50%, 6/1/2027
300,000
302,709
Enterprise Products
Operating LLC
4.60%, 1/11/2027
230,000
230,529
Northwest Pipeline LLC
4.00%, 4/1/2027
55,000
54,909
ONEOK, Inc.:
4.00%, 7/13/2027
33,000
32,876
4.25%, 9/24/2027 (b)
140,000
139,696
Sabine Pass Liquefaction LLC
5.00%, 3/15/2027
150,000
150,255
Targa Resources Corp.
5.20%, 7/1/2027
93,000
93,746
 
1,044,892
REAL ESTATE INVESTMENT TRUSTS — 7.0%
Alexandria Real Estate Equities,
Inc.
3.95%, 1/15/2027
206,000
205,398
Brixmor Operating Partnership LP
3.90%, 3/15/2027
35,000
34,896
DOC Dr. LLC
4.30%, 3/15/2027
56,000
55,959
Extra Space Storage LP
3.88%, 12/15/2027
110,000
109,121
Healthpeak OP LLC
1.35%, 2/1/2027
51,000
49,974
Highwoods Realty LP
3.88%, 3/1/2027
91,000
90,729
Kimco Realty OP LLC
3.80%, 4/1/2027
100,000
99,696
Security Description
 
Principal
Amount
Value
NNN REIT, Inc.
3.50%, 10/15/2027
$128,000
$126,445
SBA Communications Corp.
3.88%, 2/15/2027
1,000,000
992,370
Tanger Properties LP
3.88%, 7/15/2027
95,000
94,304
VICI Properties LP/VICI Note Co.,
Inc.
4.25%, 12/1/2026 (a)
250,000
249,550
 
2,108,442
RETAIL — 0.7%
AutoNation, Inc.
3.80%, 11/15/2027
135,000
133,553
Lowe's Cos., Inc.
3.35%, 4/1/2027
70,000
69,554
 
203,107
SEMICONDUCTORS — 1.5%
Advanced Micro Devices, Inc.
4.32%, 3/24/2028
60,000
60,162
Broadcom, Inc.
5.05%, 7/12/2027
94,000
94,918
Intel Corp.
3.75%, 8/5/2027
290,000
288,211
 
443,291
SHIPBUILDING — 0.4%
Huntington Ingalls Industries, Inc.
3.48%, 12/1/2027 (b)
120,000
118,259
SOFTWARE — 2.3%
Fiserv, Inc.
5.15%, 3/15/2027
40,000
40,212
Oracle Corp.
3.25%, 11/15/2027
280,000
274,658
Synopsys, Inc.
4.55%, 4/1/2027
191,000
191,558
Take-Two Interactive Software,
Inc.
3.70%, 4/14/2027
197,000
195,995
 
702,423
TELECOMMUNICATIONS — 1.9%
AT&T, Inc.
2.30%, 6/1/2027
100,000
98,156
T-Mobile USA, Inc.
3.75%, 4/15/2027
460,000
458,197
 
556,353
TRANSPORTATION — 1.1%
Norfolk Southern Corp.:
3.15%, 6/1/2027
60,000
59,353
7.80%, 5/15/2027
140,000
144,650
United Parcel Service, Inc.
3.05%, 11/15/2027
125,000
123,171
 
327,174
See accompanying notes to Schedule of Investments.
8

STATE STREET MY2027 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
TRUCKING & LEASING — 0.7%
GATX Corp.
3.85%, 3/30/2027
$7,000
$6,970
SMBC Aviation Capital Finance
DAC
1.90%, 10/15/2026 (a)
200,000
198,114
 
205,084
TOTAL CORPORATE BONDS &
NOTES
(Cost $29,295,612)
29,293,247
 
 
Shares
 
SHORT-TERM INVESTMENTS — 2.8%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (d) (e)
388,949
388,949
State Street Navigator Securities
Lending Portfolio II (f) (g)
460,315
460,315
TOTAL SHORT-TERM INVESTMENTS
(Cost $849,264)
849,264
TOTAL INVESTMENTS — 100.5%
(Cost $30,144,876)
30,142,511
LIABILITIES IN EXCESS OF OTHER ASSETS
— (0.5)%
(138,532)
NET ASSETS — 100.0%
$30,003,979
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 6.6% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
All or a portion of the shares of the security are on loan at
May 31, 2026.
(c)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(d)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(e)
The rate shown is the annualized seven-day yield at
May 31, 2026.
(f)
The Fund invested in an affiliated entity. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(g)
Investment of cash collateral for securities loaned.
Abbreviations:
 
MTN
Medium Term Note
REIT
Real Estate Investment Trust
SOFR
Secured Overnight Financing Rate
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$29,293,247
$
$29,293,247
Short-Term Investments
849,264
849,264
TOTAL INVESTMENTS
$849,264
$29,293,247
$
$30,142,511
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier
Class
108,176
$108,176
$2,788,230
$2,507,457
$
$
388,949
$388,949
$6,372
State Street Navigator Securities Lending Portfolio II
715,235
715,235
10,688,550
10,943,470
460,315
460,315
910
Total
$823,411
$13,476,780
$13,450,927
$
$
$849,264
$7,282
See accompanying notes to Schedule of Investments.
9

STATE STREET MY2028 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 98.5%
AEROSPACE & DEFENSE — 5.4%
Boeing Co.:
3.25%, 2/1/2028
$5,643,000
$5,535,670
3.25%, 3/1/2028
827,000
810,121
3.45%, 11/1/2028
4,175,000
4,072,128
Honeywell Aerospace, Inc.:
3.90%, 3/16/2028 (a)
2,598,000
2,577,424
4.00%, 3/16/2029 (a)
235,000
232,267
Howmet Aerospace, Inc.
6.75%, 1/15/2028
3,562,000
3,693,260
L3Harris Technologies, Inc.
4.40%, 6/15/2028
11,622,000
11,605,660
Lockheed Martin Corp.
4.15%, 8/15/2028
257,000
256,514
Northrop Grumman Corp.
3.25%, 1/15/2028
365,000
358,937
RTX Corp.:
4.13%, 11/16/2028
533,000
529,610
6.70%, 8/1/2028
760,000
795,515
 
30,467,106
AGRICULTURE — 5.4%
Altria Group, Inc.
6.20%, 11/1/2028
588,000
610,203
BAT Capital Corp.
2.26%, 3/25/2028
7,305,000
7,028,433
BAT International Finance PLC
4.45%, 3/16/2028
4,806,000
4,807,105
Bunge Ltd. Finance Corp.
4.10%, 1/7/2028
4,688,000
4,667,607
Imperial Brands Finance PLC
4.50%, 6/30/2028 (a)
1,430,000
1,428,556
Philip Morris International, Inc.:
3.13%, 3/2/2028
2,629,000
2,575,316
3.88%, 10/27/2028
1,919,000
1,898,659
4.13%, 4/28/2028
2,843,000
2,830,036
4.88%, 2/15/2028
2,219,000
2,238,194
5.25%, 9/7/2028
2,316,000
2,359,633
 
30,443,742
AIRLINES — 0.8%
Delta Air Lines, Inc.:
4.38%, 4/19/2028 (b)
3,851,000
3,835,288
4.95%, 7/10/2028
500,000
502,705
 
4,337,993
AUTO MANUFACTURERS — 3.4%
Ford Motor Co.
6.63%, 10/1/2028
232,000
240,373
Ford Motor Credit Co. LLC:
2.90%, 2/16/2028
610,000
589,486
6.80%, 5/12/2028
344,000
354,626
General Motors Co.
5.35%, 4/15/2028
2,171,000
2,200,070
Security Description
 
Principal
Amount
Value
General Motors Financial Co.,
Inc.:
2.40%, 4/10/2028
$3,432,000
$3,302,305
5.05%, 4/4/2028
1,955,000
1,971,305
5.80%, 6/23/2028
5,818,000
5,946,752
6.00%, 1/9/2028
115,000
117,455
Stellantis Finance U.S., Inc.
5.35%, 3/17/2028 (a)
200,000
201,078
Stellantis Financial Services
U.S. Corp.
5.40%, 6/15/2029 (a) (c)
2,625,000
2,630,906
Toyota Motor Corp.:
3.67%, 7/20/2028
80,000
79,161
5.12%, 7/13/2028
1,023,000
1,040,309
Toyota Motor Credit Corp.
Series MTN, 5.25%,
9/11/2028
428,000
436,701
 
19,110,527
BANKS — 15.3%
Banco Santander SA:
3.80%, 2/23/2028
2,648,000
2,616,939
4.38%, 4/12/2028
3,713,000
3,701,601
4.60%, 4/15/2029
2,315,000
2,307,198
5.59%, 8/8/2028
3,389,000
3,463,761
6.61%, 11/7/2028
1,990,000
2,083,112
Bank of America Corp.
SOFR + 1.63%, 5.20%,
4/25/2029 (d)
8,877,000
8,985,122
Bank of Montreal:
5.20%, 2/1/2028
671,000
679,884
5.72%, 9/25/2028
1,881,000
1,931,731
Bank of New York Mellon Corp.
Series MTN, 3.00%,
10/30/2028
1,517,000
1,467,697
Bank of Nova Scotia
5.25%, 6/12/2028
123,000
125,267
Barclays PLC:
4.34%, 1/10/2028 (b)
1,243,000
1,240,613
4.84%, 5/9/2028
2,755,000
2,759,463
Canadian Imperial Bank of
Commerce:
5.00%, 4/28/2028 (b)
981,000
992,174
5.99%, 10/3/2028
90,000
92,914
Depository Trust Co.
4.30%, 3/27/2029 (a)
1,015,000
1,011,265
Deutsche Bank AG
SOFR + 1.59%, 5.71%,
2/8/2028 (d)
1,227,000
1,236,951
Fifth Third Bancorp
3.95%, 3/14/2028
4,091,000
4,057,577
Goldman Sachs Group, Inc.
3 mo. USD Term SOFR +
1.56%, 4.22%, 5/1/2029 (d)
1,309,000
1,299,379
JPMorgan Chase & Co.
3 mo. USD Term SOFR +
1.38%, 4.01%, 4/23/2029 (d)
2,601,000
2,577,331
See accompanying notes to Schedule of Investments.
10

STATE STREET MY2028 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
KeyCorp
Series MTN, 4.10%,
4/30/2028
$1,733,000
$1,721,389
Lloyds Banking Group PLC:
4.38%, 3/22/2028
2,203,000
2,200,995
4.55%, 8/16/2028
3,761,000
3,767,055
M&T Bank Corp.
SOFR + 1.78%, 4.55%,
8/16/2028 (d)
1,940,000
1,940,446
Mitsubishi UFJ Financial Group,
Inc.
3.96%, 3/2/2028 (b)
2,028,000
2,016,156
Morgan Stanley:
3.59%, 7/22/2028 (d)
145,000
143,569
Series MTN, SOFR + 1.59%,
5.16%, 4/20/2029 (d)
816,000
824,446
Morgan Stanley Private Bank NA
SOFR + 0.77%, 4.47%,
7/6/2028 (d)
2,500,000
2,501,350
PNC Bank NA:
3.25%, 1/22/2028 (b)
1,323,000
1,303,592
4.05%, 7/26/2028
4,201,000
4,161,637
Regions Financial Corp.
1.80%, 8/12/2028
766,000
721,917
Royal Bank of Canada:
Series GMTN, 4.90%,
1/12/2028
1,908,000
1,927,175
Series GMTN, 5.20%,
8/1/2028
2,340,000
2,383,103
Sumitomo Mitsui Financial
Group, Inc.:
1.90%, 9/17/2028
3,015,000
2,845,768
4.31%, 10/16/2028 (b)
815,000
812,628
5.52%, 1/13/2028
1,380,000
1,404,247
5.72%, 9/14/2028
2,864,000
2,935,944
5.80%, 7/13/2028
125,000
128,256
Toronto-Dominion Bank:
4.11%, 10/13/2028 (b)
3,292,000
3,266,191
4.86%, 1/31/2028
150,000
151,024
5.16%, 1/10/2028
130,000
131,541
Series MTN, 5.52%,
7/17/2028
618,000
631,992
U.S. Bancorp
Series MTN, 3.90%,
4/26/2028
3,440,000
3,417,330
UBS AG
5.65%, 9/11/2028
474,000
487,381
Wells Fargo & Co.
Series MTN, 4.15%,
1/24/2029
1,297,000
1,287,869
Westpac Banking Corp.
3.40%, 1/25/2028
31,000
30,622
 
85,773,602
Security Description
 
Principal
Amount
Value
BEVERAGES — 1.8%
Anheuser-Busch InBev
Worldwide, Inc.
4.75%, 1/23/2029
$250,000
$252,060
Constellation Brands, Inc.
4.65%, 11/15/2028
415,000
416,075
Keurig Dr. Pepper, Inc.:
4.35%, 5/15/2028
3,237,000
3,227,969
4.60%, 5/25/2028
397,000
397,333
Maple Parent Holdings Corp.
4.75%, 3/26/2029 (a)
5,610,000
5,604,446
 
9,897,883
BIOTECHNOLOGY — 0.8%
Amgen, Inc.:
1.65%, 8/15/2028
2,402,000
2,264,918
5.15%, 3/2/2028
2,123,000
2,149,559
 
4,414,477
CHEMICALS — 1.6%
Eastman Chemical Co.
4.50%, 12/1/2028
3,912,000
3,902,689
Ecolab, Inc.
4.30%, 6/15/2028
1,566,000
1,566,219
International Flavors &
Fragrances, Inc.
4.45%, 9/26/2028
446,000
445,550
Sherwin-Williams Co.:
4.30%, 8/15/2028
2,839,000
2,827,275
4.55%, 3/1/2028
400,000
400,740
 
9,142,473
COMMERCIAL SERVICES — 0.1%
Global Payments, Inc.
4.50%, 11/15/2028
55,000
54,549
Mobility Global, Inc.
5.05%, 6/15/2029 (a)
630,000
633,011
PayPal Holdings, Inc.
4.45%, 3/6/2028
50,000
50,043
 
737,603
COMPUTERS — 0.8%
Crowdstrike Holdings, Inc.
3.00%, 2/15/2029
750,000
714,180
International Business Machines
Corp.
4.50%, 2/6/2028
3,722,000
3,733,203
 
4,447,383
COSMETICS/PERSONAL CARE — 0.6%
Kenvue, Inc.
5.05%, 3/22/2028
3,127,000
3,164,837
DISTRIBUTION & WHOLESALE — 0.1%
LKQ Corp.
5.75%, 6/15/2028
719,000
731,482
See accompanying notes to Schedule of Investments.
11

STATE STREET MY2028 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
DIVERSIFIED FINANCIAL SERVICES — 2.7%
AerCap Ireland Capital
DAC/AerCap Global Aviation
Trust:
3.00%, 10/29/2028
$2,440,000
$2,350,355
3.88%, 1/23/2028
1,187,000
1,174,002
5.75%, 6/6/2028
135,000
137,951
Aircastle Ltd.
6.50%, 7/18/2028 (a)
590,000
609,210
Ally Financial, Inc.
2.20%, 11/2/2028
1,073,000
1,013,620
Jefferies Financial Group, Inc.
5.88%, 7/21/2028
3,347,000
3,424,952
Stellantis Financial Services
U.S. Corp.
4.95%, 9/15/2028 (a)
1,830,000
1,822,625
Sumisho Air Lease Corp.:
2.10%, 9/1/2028
170,000
160,558
4.40%, 3/24/2028 (a)
1,780,000
1,771,937
4.50%, 3/24/2029 (a)
330,000
327,914
4.63%, 10/1/2028
2,112,000
2,105,305
 
14,898,429
ELECTRIC — 7.8%
AEP Texas, Inc.
3.95%, 6/1/2028
150,000
148,455
Ameren Corp.
1.75%, 3/15/2028
146,000
139,217
Ameren Illinois Co.
3.80%, 5/15/2028
336,000
332,882
American Electric Power Co.,
Inc.
Series J, 4.30%, 12/1/2028
2,182,000
2,177,003
Atlantic City Electric Co.
4.00%, 10/15/2028
100,000
99,200
Berkshire Hathaway Energy Co.
3.25%, 4/15/2028
191,000
187,545
CenterPoint Energy Houston
Electric LLC
5.20%, 10/1/2028
107,000
108,991
Commonwealth Edison Co.
3.70%, 8/15/2028
565,000
557,740
Constellation Energy
Generation LLC
5.60%, 3/1/2028 (b)
1,943,000
1,978,557
Consumers Energy Co.
4.65%, 3/1/2028
200,000
201,164
Dominion Energy, Inc.:
4.25%, 6/1/2028
164,000
163,421
4.60%, 5/15/2028
510,000
511,229
Duke Energy Carolinas LLC:
3.95%, 11/15/2028
530,000
525,368
Series A, 6.00%, 12/1/2028
1,032,000
1,068,997
Duke Energy Corp.
4.30%, 3/15/2028
2,181,000
2,177,663
Duke Energy Progress LLC
3.70%, 9/1/2028
386,000
381,032
Security Description
 
Principal
Amount
Value
Edison International
5.00%, 5/5/2028
$500,000
$501,055
Emera U.S. Finance LLC
4.50%, 4/1/2029
1,050,000
1,045,139
Entergy Louisiana LLC
3.25%, 4/1/2028
80,000
78,603
Entergy Mississippi LLC
2.85%, 6/1/2028
988,000
959,961
Evergy Kansas Central, Inc.
4.70%, 3/13/2028
263,000
264,015
Exelon Corp.
5.15%, 3/15/2028
751,000
759,712
Florida Power & Light Co.
5.05%, 4/1/2028
36,000
36,523
Georgia Power Co.:
4.00%, 10/1/2028
796,000
790,539
4.65%, 5/16/2028
482,000
484,781
Interstate Power & Light Co.
4.10%, 9/26/2028
256,000
253,885
National Grid PLC
5.60%, 6/12/2028
775,000
791,004
National Rural Utilities
Cooperative Finance Corp.:
3.40%, 2/7/2028
470,000
462,856
3.90%, 11/1/2028
281,000
277,344
Series D, 4.15%, 8/25/2028
1,210,000
1,202,752
4.75%, 2/7/2028
300,000
301,728
Series MTN, 5.05%,
9/15/2028 (b)
809,000
819,760
NextEra Energy Capital
Holdings, Inc.:
1.90%, 6/15/2028
1,947,000
1,851,986
4.85%, 2/4/2028
175,000
176,514
Oncor Electric Delivery Co. LLC
4.30%, 5/15/2028
125,000
124,915
Pacific Gas & Electric Co.:
3.00%, 6/15/2028
1,416,000
1,372,217
3.75%, 7/1/2028
3,583,000
3,518,291
4.65%, 8/1/2028
1,886,000
1,883,511
5.00%, 6/4/2028
796,000
801,532
Pinnacle West Capital Corp.
4.90%, 5/15/2028
1,185,000
1,191,861
Public Service Electric & Gas
Co.
Series MTN, 3.65%, 9/1/2028
108,000
106,384
Public Service Enterprise Group,
Inc.
5.88%, 10/15/2028
981,000
1,008,654
San Diego Gas & Electric Co.
4.95%, 8/15/2028
840,000
848,694
Sempra
3.40%, 2/1/2028
4,273,000
4,195,445
Southern California Edison Co.
5.30%, 3/1/2028
1,090,000
1,101,881
Southern Co.:
Series 21-B, 1.75%,
3/15/2028
535,000
511,203
See accompanying notes to Schedule of Investments.
12

STATE STREET MY2028 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
4.85%, 6/15/2028
$1,391,000
$1,401,530
Virginia Electric & Power Co.
Series A, 3.80%, 4/1/2028
2,913,000
2,884,715
Vistra Operations Co. LLC:
4.30%, 10/15/2028 (a)
250,000
247,093
4.55%, 10/30/2028 (a)
500,000
497,765
WEC Energy Group, Inc.
2.20%, 12/15/2028
500,000
473,395
 
43,985,707
ELECTRONICS — 0.5%
Hubbell, Inc.
3.50%, 2/15/2028
96,000
94,463
Vontier Corp.
2.40%, 4/1/2028
3,101,000
2,975,596
 
3,070,059
ENGINEERING & CONSTRUCTION — 0.5%
Jacobs Engineering Group, Inc.
6.35%, 8/18/2028
2,500,000
2,583,375
ENVIRONMENTAL CONTROL — 0.5%
Republic Services, Inc.
3.95%, 5/15/2028
2,631,000
2,617,161
FOOD — 0.5%
Conagra Brands, Inc.
7.00%, 10/1/2028 (b)
1,156,000
1,211,245
J.M. Smucker Co.
5.90%, 11/15/2028
1,635,000
1,687,418
 
2,898,663
GAS — 0.8%
CenterPoint Energy Resources
Corp.
5.25%, 3/1/2028
2,126,000
2,159,357
NiSource, Inc.
5.25%, 3/30/2028
2,066,000
2,094,635
Southwest Gas Corp.
5.45%, 3/23/2028
466,000
473,060
 
4,727,052
HEALTH CARE PRODUCTS — 1.2%
Baxter International, Inc.
4.45%, 2/15/2029
740,000
731,534
Boston Scientific Corp.
4.00%, 3/1/2028
1,765,000
1,759,140
Edwards Lifesciences Corp.
4.30%, 6/15/2028
156,000
155,560
Revvity, Inc.
1.90%, 9/15/2028
761,000
716,116
Stryker Corp.:
3.65%, 3/7/2028
383,000
378,389
4.70%, 2/10/2028
886,000
890,971
4.85%, 12/8/2028
1,607,000
1,624,838
Zimmer Biomet Holdings, Inc.
5.35%, 12/1/2028
500,000
510,140
 
6,766,688
Security Description
 
Principal
Amount
Value
HEALTH CARE SERVICES — 4.0%
Centene Corp.
2.45%, 7/15/2028
$6,330,000
$6,005,398
Cigna Group
4.38%, 10/15/2028
2,174,000
2,171,087
HCA, Inc.:
5.00%, 3/1/2028
1,065,000
1,074,180
5.20%, 6/1/2028
2,986,000
3,025,176
5.63%, 9/1/2028
8,245,000
8,396,625
Toledo Hospital
Series B, 5.33%, 11/15/2028
90,000
90,408
UnitedHealth Group, Inc.
3.88%, 12/15/2028
1,730,000
1,709,482
 
22,472,356
HOME BUILDERS — 0.6%
Toll Brothers Finance Corp.
4.35%, 2/15/2028
3,617,000
3,602,641
HOUSEHOLD PRODUCTS — 0.0%*
Procter & Gamble Co.
3.95%, 1/26/2028
80,000
79,902
HOUSEHOLD PRODUCTS & WARES — 0.2%
Avery Dennison Corp.
4.88%, 12/6/2028
1,148,000
1,156,782
INSURANCE — 0.7%
Athene Holding Ltd.
4.13%, 1/12/2028
1,692,000
1,678,261
Brown & Brown, Inc.
4.70%, 6/23/2028
400,000
400,768
Lincoln Financial Global Funding
4.63%, 5/28/2028 (a)
75,000
75,035
Lincoln National Corp.
3.80%, 3/1/2028
1,845,000
1,822,380
 
3,976,444
INTERNET — 1.0%
Airbnb, Inc.
4.40%, 3/16/2029
245,000
244,537
Amazon.com, Inc.:
1.65%, 5/12/2028 (b)
310,000
295,954
3.85%, 3/13/2028
160,000
159,309
3.90%, 11/20/2028
640,000
635,424
4.00%, 3/13/2029
335,000
332,561
Expedia Group, Inc.
3.80%, 2/15/2028
4,146,000
4,098,404
 
5,766,189
INVESTMENT COMPANY SECURITIES — 0.9%
ARES Capital Corp.
2.88%, 6/15/2028
472,000
452,440
Goldman Sachs Private Credit
Corp.
5.38%, 1/31/2029
150,000
149,120
Golub Capital BDC, Inc.
7.05%, 12/5/2028
500,000
514,180
Main Street Capital Corp.
5.40%, 8/15/2028
3,700,000
3,687,531
See accompanying notes to Schedule of Investments.
13

STATE STREET MY2028 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Sixth Street Specialty Lending,
Inc.
6.95%, 8/14/2028
$248,000
$255,812
 
5,059,083
IRON/STEEL — 0.2%
ArcelorMittal SA
6.55%, 11/29/2027
800,000
822,400
Nucor Corp.
3.95%, 5/1/2028
150,000
148,966
 
971,366
IT SERVICES — 0.9%
Hewlett Packard Enterprise Co.
4.15%, 9/15/2028
398,000
394,892
International Business Machines
Corp.
4.65%, 2/10/2028
4,533,000
4,557,886
 
4,952,778
LEISURE TIME — 1.6%
Royal Caribbean Cruises Ltd.
3.70%, 3/15/2028
8,974,000
8,845,313
LODGING — 4.4%
Hyatt Hotels Corp.
4.38%, 9/15/2028
2,134,000
2,122,754
Las Vegas Sands Corp.
5.63%, 6/15/2028
11,077,000
11,234,072
Marriott International, Inc.:
Series X, 4.00%, 4/15/2028
2,694,000
2,677,567
5.55%, 10/15/2028
2,403,000
2,460,263
Sands China Ltd.
5.40%, 8/8/2028
6,230,000
6,304,012
 
24,798,668
MACHINERY-DIVERSIFIED — 0.6%
CNH Industrial Capital LLC
4.55%, 4/10/2028
1,223,000
1,221,887
Ingersoll Rand, Inc.
5.40%, 8/14/2028
1,312,000
1,336,600
Otis Worldwide Corp.
5.25%, 8/16/2028
679,000
690,957
 
3,249,444
MEDIA — 2.4%
Charter Communications
Operating LLC/Charter
Communications Operating
Capital:
3.75%, 2/15/2028
6,325,000
6,217,285
4.20%, 3/15/2028
6,067,000
6,001,537
5.05%, 3/30/2029
500,000
499,910
Comcast Corp.:
3.15%, 2/15/2028 (b)
403,000
395,662
3.55%, 5/1/2028
273,000
269,235
Discovery Communications LLC
3.95%, 3/20/2028
156,000
152,798
 
13,536,427
Security Description
 
Principal
Amount
Value
MINING — 0.5%
Glencore Funding LLC
6.13%, 10/6/2028 (a)
$2,083,000
$2,149,427
Rio Tinto Finance USA Ltd.
7.13%, 7/15/2028
378,000
399,157
Rio Tinto Finance USA PLC
4.50%, 3/14/2028 (b)
120,000
120,547
 
2,669,131
MISCELLANEOUS MANUFACTURER — 0.1%
Eaton Corp.
4.35%, 5/18/2028
796,000
797,210
OIL & GAS — 2.1%
BP Capital Markets America,
Inc.:
3.94%, 9/21/2028
1,297,000
1,285,236
4.23%, 11/6/2028
4,557,000
4,541,780
BP Capital Markets PLC
3.72%, 11/28/2028
100,000
98,437
Devon Energy Corp.
5.88%, 6/15/2028
536,000
536,182
EOG Resources, Inc.
4.40%, 7/15/2028
144,000
144,082
Marathon Petroleum Corp.
3.80%, 4/1/2028
728,000
718,936
Patterson-UTI Energy, Inc.
3.95%, 2/1/2028
995,000
989,478
Phillips 66 Co.:
3.75%, 3/1/2028
105,000
103,713
3.90%, 3/15/2028
1,497,000
1,483,347
Shell Finance U.S., Inc.
3.88%, 11/13/2028 (a)
482,000
478,053
Shell International Finance BV
3.88%, 11/13/2028 (b)
12,000
11,935
TotalEnergies Capital SA
3.88%, 10/11/2028
1,102,000
1,094,341
 
11,485,520
OIL & GAS SERVICES — 0.1%
Schlumberger Holdings Corp.
4.50%, 5/15/2028 (a)
653,000
654,580
PACKAGING & CONTAINERS — 0.6%
Amcor Finance USA, Inc.
4.50%, 5/15/2028
566,000
565,796
Berry Global, Inc.
5.50%, 4/15/2028
1,360,500
1,383,302
WRKCo, Inc.:
3.90%, 6/1/2028
1,002,000
990,307
4.00%, 3/15/2028
290,000
287,810
 
3,227,215
PHARMACEUTICALS — 6.2%
AbbVie, Inc.:
3.78%, 3/3/2028
110,000
109,124
4.65%, 3/15/2028
5,113,000
5,148,638
Bayer Corp.
6.65%, 2/15/2028 (a)
700,000
722,806
See accompanying notes to Schedule of Investments.
14

STATE STREET MY2028 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Bayer U.S. Finance II LLC
4.38%, 12/15/2028 (a)
$3,730,000
$3,695,870
Bayer U.S. Finance LLC
6.25%, 1/21/2029 (a)
200,000
207,138
Becton Dickinson & Co.
4.69%, 2/13/2028
1,241,000
1,246,721
CVS Health Corp.
4.30%, 3/25/2028
10,810,000
10,775,732
Eli Lilly & Co.
4.00%, 10/15/2028
770,000
767,575
McKesson Corp.:
3.95%, 2/16/2028
397,000
394,412
4.90%, 7/15/2028
370,000
374,684
Merck & Co., Inc.
1.90%, 12/10/2028
210,000
198,465
Mylan, Inc.
4.55%, 4/15/2028
5,075,000
5,051,046
Novartis Capital Corp.:
3.90%, 11/5/2028
481,000
477,696
4.10%, 3/16/2029
80,000
79,549
Pfizer Investment Enterprises
Pte. Ltd.
4.45%, 5/19/2028
818,000
820,519
Pfizer, Inc.
3.60%, 9/15/2028
1,332,000
1,315,124
Takeda Pharmaceutical Co. Ltd.
5.00%, 11/26/2028
2,645,000
2,672,772
Zoetis, Inc.
4.15%, 8/17/2028
600,000
596,580
 
34,654,451
PIPELINES — 3.1%
Enbridge, Inc.:
4.20%, 11/20/2028
1,465,000
1,455,243
6.00%, 11/15/2028
52,000
53,774
Energy Transfer LP:
4.95%, 5/15/2028
3,668,000
3,698,811
4.95%, 6/15/2028
2,328,000
2,346,089
6.10%, 12/1/2028
2,712,000
2,807,815
Enterprise Products
Operating LLC
4.15%, 10/16/2028
1,280,000
1,276,160
ONEOK, Inc.:
4.55%, 7/15/2028
2,047,000
2,047,921
5.65%, 11/1/2028
2,347,000
2,401,263
Sabine Pass Liquefaction LLC
4.20%, 3/15/2028
200,000
199,194
Targa Resources
Partners LP/Targa Resources
Partners Finance Corp.
5.00%, 1/15/2028 (b)
518,000
518,088
TransCanada PipeLines Ltd.
4.25%, 5/15/2028
315,000
313,664
Williams Cos., Inc.
5.30%, 8/15/2028 (b)
328,000
333,858
 
17,451,880
Security Description
 
Principal
Amount
Value
REAL ESTATE INVESTMENT TRUSTS — 3.3%
Agree LP
2.00%, 6/15/2028
$229,000
$217,926
Alexandria Real Estate Equities,
Inc.
3.95%, 1/15/2028
1,175,000
1,163,826
American Homes 4 Rent LP
4.25%, 2/15/2028
331,000
329,080
AvalonBay Communities, Inc.:
1.90%, 12/1/2028
160,000
150,574
Series MTN, 3.20%,
1/15/2028
245,000
240,666
Crown Castle, Inc.
4.80%, 9/1/2028
400,000
402,096
Digital Realty Trust LP
4.45%, 7/15/2028
551,000
550,306
DOC Dr. LLC
3.95%, 1/15/2028
440,000
435,952
ERP Operating LP:
3.50%, 3/1/2028
63,000
62,052
4.15%, 12/1/2028
200,000
198,782
Extra Space Storage LP
5.70%, 4/1/2028
1,195,000
1,218,649
Federal Realty OP LP
5.38%, 5/1/2028
953,000
967,104
GLP Capital LP/GLP Financing
II, Inc.
5.75%, 6/1/2028
410,000
415,777
Highwoods Realty LP
4.13%, 3/15/2028
4,500,000
4,441,860
Host Hotels & Resorts LP
4.25%, 12/15/2028
59,000
58,470
Kilroy Realty LP
4.75%, 12/15/2028
1,170,000
1,159,306
Prologis LP
4.00%, 9/15/2028
484,000
480,022
Realty Income Corp.:
2.20%, 6/15/2028
730,000
699,902
3.40%, 1/15/2028
50,000
49,259
4.70%, 12/15/2028
75,000
75,401
Simon Property Group LP
1.75%, 2/1/2028
70,000
67,165
UDR, Inc.
Series GMTN, 3.50%,
1/15/2028 (b)
415,000
408,642
VICI Properties LP
4.75%, 2/15/2028
4,166,000
4,173,249
Welltower OP LLC
4.25%, 4/15/2028
508,000
507,243
 
18,473,309
RETAIL — 1.7%
AutoNation, Inc.:
1.95%, 8/1/2028
2,737,000
2,582,797
3.80%, 11/15/2027
53,000
52,432
AutoZone, Inc.:
4.50%, 2/1/2028
843,000
844,189
See accompanying notes to Schedule of Investments.
15

STATE STREET MY2028 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
6.25%, 11/1/2028
$250,000
$259,580
Dollar General Corp.
5.20%, 7/5/2028
485,000
490,859
Home Depot, Inc.:
0.90%, 3/15/2028
229,000
216,513
1.50%, 9/15/2028
200,000
188,618
Lowe's Cos., Inc.:
4.00%, 10/15/2028
415,000
410,991
6.88%, 2/15/2028
298,000
310,373
McDonald's Corp.:
Series MTN, 3.80%, 4/1/2028
460,000
456,288
4.80%, 8/14/2028
75,000
75,691
O'Reilly Automotive, Inc.
4.35%, 6/1/2028
3,594,000
3,591,304
Starbucks Corp.:
4.00%, 11/15/2028
200,000
198,020
4.50%, 5/15/2028
52,000
52,073
 
9,729,728
SEMICONDUCTORS — 4.6%
Advanced Micro Devices, Inc.
4.32%, 3/24/2028
1,334,000
1,337,602
Analog Devices, Inc.:
1.70%, 10/1/2028
834,000
785,720
4.25%, 6/15/2028
366,000
365,744
Broadcom, Inc.:
1.95%, 2/15/2028
2,046,000
1,969,234
4.80%, 4/15/2028
4,503,000
4,544,608
Intel Corp.:
1.60%, 8/12/2028
3,054,000
2,874,272
4.88%, 2/10/2028
5,011,000
5,043,772
Marvell Technology, Inc.:
2.45%, 4/15/2028
4,544,000
4,381,461
4.88%, 6/22/2028
4,194,000
4,226,671
NXP BV/NXP Funding LLC/NXP
USA, Inc.
4.30%, 8/19/2028
200,000
199,214
TSMC Arizona Corp.
4.13%, 4/22/2029
200,000
199,066
 
25,927,364
SHIPBUILDING — 0.8%
Huntington Ingalls Industries,
Inc.
2.04%, 8/16/2028
4,460,000
4,224,111
SOFTWARE — 4.4%
Fidelity National Information
Services, Inc.
4.45%, 3/10/2028
1,300,000
1,296,451
Fiserv, Inc.:
5.38%, 8/21/2028
2,522,000
2,555,114
5.45%, 3/2/2028
1,629,000
1,649,688
Oracle Corp.:
4.50%, 5/6/2028
4,981,000
4,970,590
4.55%, 2/4/2029
775,000
767,351
4.80%, 8/3/2028
8,716,000
8,715,303
Security Description
 
Principal
Amount
Value
ServiceNow, Inc.
4.25%, 5/15/2028 (b)
$1,500,000
$1,499,880
Take-Two Interactive Software,
Inc.
4.95%, 3/28/2028
2,449,000
2,468,224
VMware LLC
1.80%, 8/15/2028
500,000
472,730
 
24,395,331
TELECOMMUNICATIONS — 2.4%
AT&T, Inc.:
1.65%, 2/1/2028
2,477,000
2,370,563
4.10%, 2/15/2028
1,047,000
1,042,739
British Telecommunications PLC
5.13%, 12/4/2028
329,000
332,839
T-Mobile USA, Inc.:
2.05%, 2/15/2028
2,899,000
2,790,172
4.80%, 7/15/2028
4,444,000
4,476,441
4.95%, 3/15/2028
1,072,000
1,082,548
Verizon Communications, Inc.:
2.10%, 3/22/2028
220,000
211,603
4.33%, 9/21/2028
1,080,000
1,080,108
 
13,387,013
TRANSPORTATION — 0.5%
Canadian National Railway Co.
6.90%, 7/15/2028
341,000
358,623
Canadian Pacific Railway Co.
4.00%, 6/1/2028
1,960,000
1,945,182
Union Pacific Corp.
3.95%, 9/10/2028
417,000
414,156
 
2,717,961
TOTAL CORPORATE BONDS &
NOTES
(Cost $554,024,579)
552,478,439
 
 
Shares
 
SHORT-TERM INVESTMENTS — 1.8%
State Street Institutional
Treasury Plus Money Market
Fund - Premier Class 3.57%
(e) (f)
4,951,100
4,951,100
State Street Navigator Securities
Lending Portfolio II (g) (h)
5,246,565
5,246,565
TOTAL SHORT-TERM INVESTMENTS
(Cost $10,197,665)
10,197,665
TOTAL INVESTMENTS — 100.3%
(Cost $564,222,244)
562,676,104
LIABILITIES IN EXCESS OF OTHER ASSETS
— (0.3)%
(1,768,460)
NET ASSETS — 100.0%
$560,907,644
See accompanying notes to Schedule of Investments.
16

STATE STREET MY2028 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 4.9% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
All or a portion of the shares of the security are on loan at
May 31, 2026.
(c)
When-issued security.
(d)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(e)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(f)
The rate shown is the annualized seven-day yield at
May 31, 2026.
(g)
The Fund invested in an affiliated entity. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(h)
Investment of cash collateral for securities loaned.
*
Amount is less than 0.05% of net assets.
Abbreviations:
 
GMTN
Global Medium Term Note
MTN
Medium Term Note
SOFR
Secured Overnight Financing Rate
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$552,478,439
$
$552,478,439
Short-Term Investments
10,197,665
10,197,665
TOTAL INVESTMENTS
$10,197,665
$552,478,439
$
$562,676,104
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund -
Premier Class
153,249
$153,249
$22,592,940
$17,795,089
$
$
4,951,100
$4,951,100
$19,912
State Street Navigator Securities Lending Portfolio II
1,175,930
1,175,930
37,925,750
33,855,115
5,246,565
5,246,565
10,577
Total
$1,329,179
$60,518,690
$51,650,204
$
$
$10,197,665
$30,489
See accompanying notes to Schedule of Investments.
17

STATE STREET MY2029 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 98.5%
AEROSPACE & DEFENSE — 3.8%
Boeing Co.
6.30%, 5/1/2029
$523,000
$547,194
Honeywell Aerospace, Inc.
4.00%, 3/16/2029 (a)
45,000
44,476
Howmet Aerospace, Inc.
3.00%, 1/15/2029
330,000
318,150
L3Harris Technologies, Inc.
5.05%, 6/1/2029
390,000
395,382
 
1,305,202
AGRICULTURE — 4.4%
BAT International Finance PLC
5.93%, 2/2/2029
306,000
316,380
Bunge Ltd. Finance Corp.
4.20%, 9/17/2029
325,000
321,438
Philip Morris International, Inc.:
3.38%, 8/15/2029
195,000
188,590
5.63%, 11/17/2029
665,000
687,477
 
1,513,885
AUTO MANUFACTURERS — 3.2%
Ford Motor Credit Co. LLC
5.11%, 5/3/2029
225,000
224,343
General Motors Financial Co., Inc.:
4.90%, 10/6/2029
265,000
266,415
5.55%, 7/15/2029
220,000
225,214
Stellantis Financial Services
U.S. Corp.
5.40%, 6/15/2029 (a) (b)
200,000
200,450
Toyota Motor Credit Corp.
Series MTN, 4.45%, 6/29/2029
(c)
192,000
192,148
 
1,108,570
AUTO PARTS & EQUIPMENT — 0.9%
BorgWarner, Inc.
4.95%, 8/15/2029
265,000
267,857
Lear Corp.
4.25%, 5/15/2029
50,000
49,393
 
317,250
BANKS — 9.2%
Banco Santander SA
4.60%, 4/15/2029
430,000
428,551
Bank of America Corp.:
Series MTN, 3 mo. USD Term
SOFR + 1.47%, 3.97%,
2/7/2030 (d)
100,000
98,372
SOFR + 1.63%, 5.20%,
4/25/2029 (d)
70,000
70,853
Depository Trust Co.
4.30%, 3/27/2029 (a)
250,000
249,080
Deutsche Bank AG
SOFR + 2.51%, 6.82%,
11/20/2029 (d)
150,000
157,137
Security Description
 
Principal
Amount
Value
Goldman Sachs Group, Inc.
3 mo. USD Term SOFR +
1.42%, 3.81%, 4/23/2029 (d)
$50,000
$49,301
JPMorgan Chase & Co.
3 mo. USD Term SOFR +
1.42%, 3.70%, 5/6/2030 (d)
150,000
146,361
M&T Bank Corp.
SOFR + 1.78%, 4.55%,
8/16/2028 (d)
200,000
200,046
Mitsubishi UFJ Financial Group,
Inc.
3.20%, 7/18/2029
100,000
95,891
Morgan Stanley
SOFR + 1.45%, 5.17%,
1/16/2030 (d)
75,000
75,886
Royal Bank of Canada
Series GMTN, 4.95%, 2/1/2029
50,000
50,836
Sumitomo Mitsui Financial Group,
Inc.:
3.04%, 7/16/2029
205,000
195,379
5.72%, 9/14/2028
200,000
205,024
Toronto-Dominion Bank
4.11%, 10/13/2028
100,000
99,216
U.S. Bancorp:
Series DMTN, 3.00%,
7/30/2029
215,000
205,061
SOFR + 2.02%, 5.78%,
6/12/2029 (d)
100,000
102,429
Wells Fargo & Co.:
Series MTN, 4.15%, 1/24/2029
380,000
377,325
SOFR + 1.50%, 5.20%,
1/23/2030 (d)
300,000
304,404
Series MTN, SOFR + 1.74%,
5.57%, 7/25/2029 (d)
75,000
76,452
 
3,187,604
BEVERAGES — 2.6%
Anheuser-Busch InBev Worldwide,
Inc.
4.75%, 1/23/2029
280,000
282,307
Coca-Cola Consolidated, Inc.
5.25%, 6/1/2029
50,000
50,985
Maple Parent Holdings Corp.
4.75%, 3/26/2029 (a)
374,000
373,630
PepsiCo, Inc.
2.63%, 7/29/2029
220,000
209,343
 
916,265
BIOTECHNOLOGY — 1.5%
Amgen, Inc.
4.05%, 8/18/2029
230,000
227,233
Gilead Sciences, Inc.
4.80%, 11/15/2029 (c)
192,000
194,345
Royalty Pharma PLC
5.15%, 9/2/2029
105,000
106,516
 
528,094
See accompanying notes to Schedule of Investments.
18

STATE STREET MY2029 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CHEMICALS — 1.5%
Air Products & Chemicals, Inc.
4.60%, 2/8/2029 (c)
$45,000
$45,264
Dow Chemical Co.
7.38%, 11/1/2029
24,000
25,937
Eastman Chemical Co.
5.00%, 8/1/2029
215,000
216,866
Nutrien Ltd.
4.20%, 4/1/2029
253,000
250,999
 
539,066
COMMERCIAL SERVICES — 1.3%
Mobility Global, Inc.
5.05%, 6/15/2029 (a)
40,000
40,191
Verisk Analytics, Inc.
4.13%, 3/15/2029
404,000
399,318
 
439,509
COMPUTERS — 0.5%
Apple, Inc.
2.20%, 9/11/2029
101,000
95,248
Crowdstrike Holdings, Inc.
3.00%, 2/15/2029
100,000
95,224
 
190,472
CONSTRUCTION MATERIALS — 0.1%
Owens Corning
3.95%, 8/15/2029
50,000
49,138
DIVERSIFIED FINANCIAL SERVICES — 0.8%
AerCap Ireland Capital
DAC/AerCap Global Aviation
Trust
4.63%, 9/10/2029
105,000
104,762
BlackRock Funding, Inc.
4.70%, 3/14/2029
50,000
50,579
Charles Schwab Corp.
4.00%, 2/1/2029
45,000
44,607
Sumisho Air Lease Corp.
4.50%, 3/24/2029 (a)
80,000
79,494
 
279,442
ELECTRIC — 9.4%
AEP Texas, Inc.
5.45%, 5/15/2029
50,000
51,176
Ameren Corp.
5.00%, 1/15/2029
60,000
60,661
American Electric Power Co., Inc.
5.20%, 1/15/2029
312,000
317,323
CenterPoint Energy, Inc.
5.40%, 6/1/2029
185,000
189,240
Consumers Energy Co.
4.60%, 5/30/2029
125,000
125,685
DTE Energy Co.:
Series C, 3.40%, 6/15/2029
100,000
96,571
5.10%, 3/1/2029 (c)
214,000
216,992
Duke Energy Corp.
4.85%, 1/5/2029
300,000
302,463
Security Description
 
Principal
Amount
Value
Emera U.S. Finance LLC
4.50%, 4/1/2029
$150,000
$149,305
Entergy Texas, Inc.
4.00%, 3/30/2029
122,000
120,408
Exelon Corp.
5.15%, 3/15/2029
200,000
203,154
Georgia Power Co.
Series B, 2.65%, 9/15/2029
50,000
47,252
Jersey Central Power & Light Co.
4.15%, 1/15/2029 (a)
75,000
74,138
Pacific Gas & Electric Co.:
4.20%, 3/1/2029 (c)
69,000
67,988
5.55%, 5/15/2029
235,000
240,358
PacifiCorp
5.10%, 2/15/2029
195,000
197,106
Public Service Enterprise Group,
Inc.
5.20%, 4/1/2029
250,000
254,150
Southern California Edison Co.:
2.85%, 8/1/2029 (c)
49,000
46,230
5.15%, 6/1/2029
95,000
95,934
Southern Co.
5.50%, 3/15/2029
165,000
169,117
Vistra Operations Co. LLC
4.30%, 10/15/2028 (a)
250,000
247,092
 
3,272,343
ELECTRONICS — 0.5%
Allegion PLC
3.50%, 10/1/2029
170,000
163,380
ENTERTAINMENT — 0.2%
Discovery Global Holdings, Inc.
4.05%, 3/15/2029
65,000
61,379
ENVIRONMENTAL CONTROL — 1.4%
Republic Services, Inc.:
4.88%, 4/1/2029
245,000
247,979
5.00%, 11/15/2029
225,000
228,884
 
476,863
FOOD — 1.7%
JBS NV/JBS USA Foods Group
Holdings, Inc./JBS USA Food
Co. Holdings
3.00%, 2/2/2029
235,000
225,431
Mars, Inc.
4.80%, 3/1/2030 (a)
100,000
100,675
Tyson Foods, Inc.
4.35%, 3/1/2029
250,000
248,810
 
574,916
HEALTH CARE PRODUCTS — 2.7%
Baxter International, Inc.
4.45%, 2/15/2029
242,000
239,231
Boston Scientific Corp.
4.00%, 3/1/2029
225,000
222,955
GE HealthCare Technologies, Inc.
4.80%, 8/14/2029
215,000
216,284
See accompanying notes to Schedule of Investments.
19

STATE STREET MY2029 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Stryker Corp.
4.25%, 9/11/2029
$50,000
$49,669
Thermo Fisher Scientific, Inc.
5.00%, 1/31/2029 (c)
225,000
228,557
 
956,696
HEALTH CARE SERVICES — 3.8%
Centene Corp.:
2.45%, 7/15/2028
600,000
569,232
4.63%, 12/15/2029
113,000
110,012
HCA, Inc.:
3.38%, 3/15/2029
190,000
184,000
4.13%, 6/15/2029
425,000
418,808
UnitedHealth Group, Inc.
4.70%, 4/15/2029
50,000
50,437
 
1,332,489
HOME BUILDERS — 1.5%
Toll Brothers Finance Corp.
3.80%, 11/1/2029
540,000
525,820
INSURANCE — 2.6%
Allstate Corp.
5.05%, 6/24/2029
100,000
101,551
Aon North America, Inc.
5.15%, 3/1/2029
125,000
126,947
Arthur J Gallagher & Co.
4.85%, 12/15/2029
242,000
244,088
Corebridge Financial, Inc.
3.85%, 4/5/2029
70,000
68,398
Hartford Insurance Group, Inc.
2.80%, 8/19/2029
50,000
47,371
Marsh & McLennan Cos., Inc.
4.38%, 3/15/2029
145,000
144,780
Principal Financial Group, Inc.
3.70%, 5/15/2029
180,000
175,919
 
909,054
INTERNET — 1.0%
Airbnb, Inc.
4.40%, 3/16/2029
60,000
59,887
Alphabet, Inc.
4.00%, 5/15/2030
85,000
84,023
Amazon.com, Inc.:
3.45%, 4/13/2029
130,000
127,349
4.00%, 3/13/2029
65,000
64,527
 
335,786
INVESTMENT COMPANY SECURITIES — 1.7%
ARES Capital Corp.
5.95%, 7/15/2029
220,000
222,730
FS KKR Capital Corp.
6.88%, 8/15/2029
125,000
125,417
Goldman Sachs Private Credit
Corp.
5.38%, 1/31/2029
75,000
74,560
Security Description
 
Principal
Amount
Value
Main Street Capital Corp.
6.95%, 3/1/2029 (c)
$150,000
$154,527
 
577,234
IRON/STEEL — 0.5%
ArcelorMittal SA
4.25%, 7/16/2029
175,000
173,544
IT SERVICES — 1.0%
Accenture Capital, Inc.
4.05%, 10/4/2029
75,000
74,142
IBM International Capital Pte. Ltd.
4.60%, 2/5/2029
265,000
265,750
 
339,892
LODGING — 1.6%
Las Vegas Sands Corp.:
3.90%, 8/8/2029
204,000
197,235
6.00%, 8/15/2029
199,000
204,550
Sands China Ltd.
2.85%, 3/8/2029
150,000
142,577
 
544,362
MACHINERY, CONSTRUCTION & MINING — 0.2%
Caterpillar, Inc.
2.60%, 9/19/2029
63,000
59,643
MACHINERY-DIVERSIFIED — 2.2%
CNH Industrial Capital LLC
5.10%, 4/20/2029
115,000
116,308
Dover Corp.
2.95%, 11/4/2029
300,000
284,958
Ingersoll Rand, Inc.
5.18%, 6/15/2029
172,000
175,430
John Deere Capital Corp.
Series MTN, 4.85%, 6/11/2029
191,000
193,897
 
770,593
MEDIA — 0.8%
Charter Communications
Operating LLC/Charter
Communications Operating
Capital
2.25%, 1/15/2029
305,000
284,702
MINING — 1.3%
Freeport-McMoRan, Inc.
5.25%, 9/1/2029
50,000
50,457
Glencore Funding LLC:
5.37%, 4/4/2029 (a)
180,000
183,371
6.13%, 10/6/2028 (a)
200,000
206,378
 
440,206
OIL & GAS — 2.7%
BP Capital Markets America, Inc.:
4.70%, 4/10/2029
50,000
50,360
4.87%, 11/25/2029
155,000
157,029
4.97%, 10/17/2029
100,000
101,586
Canadian Natural Resources Ltd.
5.00%, 12/15/2029
75,000
76,099
See accompanying notes to Schedule of Investments.
20

STATE STREET MY2029 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Diamondback Energy, Inc.
3.50%, 12/1/2029
$315,000
$305,522
EQT Corp.
4.50%, 1/15/2029
30,000
29,822
Patterson-UTI Energy, Inc.
5.15%, 11/15/2029
100,000
100,585
TotalEnergies Capital International
SA
3.46%, 2/19/2029
125,000
122,452
 
943,455
PACKAGING & CONTAINERS — 0.1%
WRKCo, Inc.
4.90%, 3/15/2029
50,000
50,357
PHARMACEUTICALS — 6.7%
AbbVie, Inc.:
3.20%, 11/21/2029
576,000
553,185
4.80%, 3/15/2029
410,000
414,567
Bayer U.S. Finance LLC
6.25%, 1/21/2029 (a)
250,000
258,922
Bristol-Myers Squibb Co.
3.40%, 7/26/2029
50,000
48,562
Cardinal Health, Inc.
5.00%, 11/15/2029
265,000
268,127
CVS Health Corp.:
3.25%, 8/15/2029
400,000
383,868
5.00%, 1/30/2029
125,000
126,386
5.40%, 6/1/2029
100,000
102,225
Merck & Co., Inc.
3.40%, 3/7/2029
135,000
131,857
Novartis Capital Corp.
4.10%, 3/16/2029
30,000
29,831
 
2,317,530
PIPELINES — 3.9%
Cheniere Energy Partners LP
4.50%, 10/1/2029
120,000
119,376
Enbridge, Inc.
5.30%, 4/5/2029
95,000
96,836
Energy Transfer LP:
4.15%, 9/15/2029
133,000
130,996
5.25%, 7/1/2029
285,000
290,295
Enterprise Products
Operating LLC
3.13%, 7/31/2029
295,000
283,858
Kinder Morgan, Inc.
5.10%, 8/1/2029
50,000
50,774
ONEOK, Inc.:
3.40%, 9/1/2029
100,000
96,092
4.35%, 3/15/2029
125,000
124,124
Targa Resources Corp.
6.15%, 3/1/2029
144,000
149,741
 
1,342,092
Security Description
 
Principal
Amount
Value
REAL ESTATE INVESTMENT TRUSTS — 4.7%
Alexandria Real Estate Equities,
Inc.:
2.75%, 12/15/2029
$50,000
$46,634
4.50%, 7/30/2029
175,000
173,311
American Homes 4 Rent LP
4.90%, 2/15/2029
320,000
321,882
Camden Property Trust
3.15%, 7/1/2029
38,000
36,465
COPT Defense Properties LP
2.00%, 1/15/2029
70,000
65,494
EPR Properties
3.75%, 8/15/2029
130,000
125,345
Equinix, Inc.
3.20%, 11/18/2029
105,000
100,250
Essex Portfolio LP
4.00%, 3/1/2029
100,000
98,505
Extra Space Storage LP
4.00%, 6/15/2029
54,000
53,031
Federal Realty OP LP
3.20%, 6/15/2029
49,000
46,988
Highwoods Realty LP
4.20%, 4/15/2029
100,000
97,977
Host Hotels & Resorts LP
Series H, 3.38%, 12/15/2029
185,000
175,966
Regency Centers LP
2.95%, 9/15/2029
164,000
156,225
Simon Property Group LP
2.45%, 9/13/2029
130,000
121,867
 
1,619,940
RETAIL — 2.8%
AutoNation, Inc.
4.45%, 1/15/2029
150,000
148,673
Darden Restaurants, Inc.
4.55%, 10/15/2029
60,000
59,703
Home Depot, Inc.
4.75%, 6/25/2029
340,000
344,175
Lowe's Cos., Inc.:
3.65%, 4/5/2029
235,000
229,825
6.50%, 3/15/2029
195,000
205,263
 
987,639
SEMICONDUCTORS — 3.7%
Broadcom, Inc.:
4.00%, 4/15/2029 (a)
30,000
29,652
4.75%, 4/15/2029
130,000
131,112
5.05%, 7/12/2029
350,000
356,167
Intel Corp.
4.00%, 8/5/2029
202,000
198,560
Marvell Technology, Inc.
5.75%, 2/15/2029
199,000
204,707
TSMC Arizona Corp.
4.13%, 4/22/2029
360,000
358,319
 
1,278,517
See accompanying notes to Schedule of Investments.
21

STATE STREET MY2029 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
SOFTWARE — 5.2%
Cadence Design Systems, Inc.
4.30%, 9/10/2029
$220,000
$218,702
Fiserv, Inc.
3.50%, 7/1/2029
280,000
269,223
Oracle Corp.:
4.55%, 2/4/2029
525,000
519,818
6.15%, 11/9/2029
74,000
76,660
Paychex, Inc.
5.10%, 4/15/2030
65,000
65,736
ROBLOX Corp.
3.88%, 5/1/2030 (a)
100,000
94,400
Roper Technologies, Inc.
4.50%, 10/15/2029
140,000
138,909
Synopsys, Inc.
4.85%, 4/1/2030
65,000
65,348
Take-Two Interactive Software,
Inc.
5.40%, 6/12/2029
270,000
275,541
Workday, Inc.
3.70%, 4/1/2029
79,000
77,015
 
1,801,352
TELECOMMUNICATIONS — 3.4%
AT&T, Inc.
4.35%, 3/1/2029
445,000
443,830
T-Mobile USA, Inc.:
3.38%, 4/15/2029
366,000
355,166
4.85%, 1/15/2029 (c)
237,000
239,107
Verizon Communications, Inc.
4.02%, 12/3/2029
163,000
160,662
 
1,198,765
TRANSPORTATION — 1.4%
Canadian Pacific Railway Co.
2.88%, 11/15/2029
200,000
189,724
Fedex Freight Holding Co., Inc.
4.30%, 3/15/2029 (a)
50,000
49,369
Union Pacific Corp.
3.70%, 3/1/2029
90,000
88,592
United Parcel Service, Inc.
3.40%, 3/15/2029
175,000
170,709
 
498,394
TOTAL CORPORATE BONDS &
NOTES
(Cost $34,160,428)
34,211,440
Security Description
 
Shares
Value
SHORT-TERM INVESTMENTS — 4.6%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (e) (f)
344,064
$344,064
State Street Navigator Securities
Lending Portfolio II (g) (h)
1,272,070
1,272,070
TOTAL SHORT-TERM INVESTMENTS
(Cost $1,616,134)
1,616,134
TOTAL INVESTMENTS — 103.1%
(Cost $35,776,562)
35,827,574
LIABILITIES IN EXCESS OF OTHER ASSETS
— (3.1)%
(1,084,621)
NET ASSETS — 100.0%
$34,742,953
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 6.4% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
When-issued security.
(c)
All or a portion of the shares of the security are on loan at
May 31, 2026.
(d)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(e)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(f)
The rate shown is the annualized seven-day yield at
May 31, 2026.
(g)
The Fund invested in an affiliated entity. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(h)
Investment of cash collateral for securities loaned.
Abbreviations:
 
DMTN
Domestic Medium Term Note
GMTN
Global Medium Term Note
MTN
Medium Term Note
SOFR
Secured Overnight Financing Rate
See accompanying notes to Schedule of Investments.
22

STATE STREET MY2029 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$34,211,440
$
$34,211,440
Short-Term Investments
1,616,134
1,616,134
TOTAL INVESTMENTS
$1,616,134
$34,211,440
$
$35,827,574
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier
Class
162,957
$162,957
$4,337,427
$4,156,320
$
$
344,064
$344,064
$8,768
State Street Navigator Securities Lending Portfolio II
1,864,200
1,864,200
16,339,360
16,931,490
1,272,070
1,272,070
1,700
Total
$2,027,157
$20,676,787
$21,087,810
$
$
$1,616,134
$10,468
See accompanying notes to Schedule of Investments.
23

STATE STREET MY2030 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 98.2%
ADVERTISING — 0.0%*
Omnicom Group, Inc.
4.75%, 3/30/2030
$11,000
$11,031
AEROSPACE & DEFENSE — 3.7%
Boeing Co.
5.15%, 5/1/2030
1,095,000
1,112,925
Honeywell Aerospace, Inc.
4.30%, 3/16/2031 (a)
200,000
196,936
Northrop Grumman Corp.
4.40%, 5/1/2030
200,000
199,312
 
1,509,173
AGRICULTURE — 5.1%
Altria Group, Inc.
3.40%, 5/6/2030
25,000
23,909
BAT Capital Corp.
6.34%, 8/2/2030
630,000
668,783
Philip Morris International, Inc.:
1.75%, 11/1/2030
244,000
216,457
2.10%, 5/1/2030
11,000
10,035
4.00%, 10/29/2030 (b)
305,000
298,373
5.13%, 2/15/2030
374,000
381,177
5.50%, 9/7/2030
453,000
468,189
 
2,066,923
APPAREL — 0.4%
NIKE, Inc.
2.85%, 3/27/2030
27,000
25,512
Tapestry, Inc.
5.10%, 3/11/2030
121,000
122,256
 
147,768
AUTO MANUFACTURERS — 2.1%
American Honda Finance Corp.
4.60%, 4/17/2030
10,000
9,923
General Motors Financial Co., Inc.:
3.60%, 6/21/2030
299,000
285,760
5.35%, 1/7/2030
100,000
101,963
5.85%, 4/6/2030
275,000
285,214
Hyundai Capital America
6.20%, 9/21/2030 (a)
100,000
104,630
Toyota Motor Credit Corp.
5.55%, 11/20/2030
82,000
85,171
 
872,661
BANKS — 6.2%
Bank of America Corp.
SOFR + 2.15%, 2.59%,
4/29/2031 (c)
200,000
184,830
Citigroup, Inc.
SOFR + 3.91%, 4.41%,
3/31/2031 (c)
100,000
98,856
Citizens Financial Group, Inc.
2.50%, 2/6/2030
250,000
230,297
Security Description
 
Principal
Amount
Value
Goldman Sachs Group, Inc.:
3.80%, 3/15/2030
$427,000
$414,288
SOFR + 1.21%, 5.05%,
7/23/2030 (c)
228,000
230,070
Huntington Bancshares, Inc.
SOFR + 1.28%, 5.27%,
1/15/2031 (b) (c)
176,000
178,489
JPMorgan Chase & Co.
3 mo. USD Term SOFR +
3.79%, 4.49%, 3/24/2031 (c)
228,000
226,819
Morgan Stanley
Series MTN, SOFR + 3.12%,
3.62%, 4/1/2031 (c)
100,000
96,009
PNC Financial Services Group,
Inc.
2.55%, 1/22/2030
221,000
206,096
Sumitomo Mitsui Financial Group,
Inc.
2.14%, 9/23/2030
200,000
179,044
U.S. Bancorp
SOFR + 1.25%, 5.10%,
7/23/2030 (c)
247,000
250,705
Wells Fargo & Co.
Series MTN, 3 mo. USD Term
SOFR + 4.03%, 4.48%,
4/4/2031 (c)
258,000
255,740
 
2,551,243
BEVERAGES — 3.4%
Anheuser-Busch InBev Worldwide,
Inc.
3.50%, 6/1/2030
940,000
907,890
Constellation Brands, Inc.
2.88%, 5/1/2030
250,000
234,297
Maple Parent Holdings Corp.
5.05%, 3/26/2031 (a)
135,000
135,100
PepsiCo, Inc.
4.30%, 7/23/2030 (b)
100,000
100,117
 
1,377,404
BIOTECHNOLOGY — 1.9%
Amgen, Inc.
5.25%, 3/2/2030
294,000
300,394
Gilead Sciences, Inc.
1.65%, 10/1/2030
276,000
244,978
Regeneron Pharmaceuticals, Inc.
1.75%, 9/15/2030
45,000
39,848
Royalty Pharma PLC
2.20%, 9/2/2030
210,000
189,762
 
774,982
CHEMICALS — 0.6%
Ecolab, Inc.
4.80%, 3/24/2030
125,000
126,299
Nutrien Ltd.
2.95%, 5/13/2030
130,000
122,149
 
248,448
See accompanying notes to Schedule of Investments.
24

STATE STREET MY2030 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
COMMERCIAL SERVICES — 0.7%
Automatic Data Processing, Inc.
1.25%, 9/1/2030
$40,000
$35,155
Block Financial LLC
3.88%, 8/15/2030
284,000
270,405
 
305,560
COMPUTERS — 1.2%
Apple, Inc.
1.25%, 8/20/2030
65,000
57,531
Leidos, Inc.
4.38%, 5/15/2030
350,000
344,344
NetApp, Inc.
2.70%, 6/22/2030
100,000
92,154
 
494,029
CONSTRUCTION MATERIALS — 1.3%
Carrier Global Corp.
2.72%, 2/15/2030
554,000
518,489
COSMETICS/PERSONAL CARE — 1.3%
Kenvue, Inc.
5.00%, 3/22/2030
506,000
514,126
DIVERSIFIED FINANCIAL SERVICES — 2.8%
Charles Schwab Corp.
4.63%, 3/22/2030 (b)
105,000
105,877
Jefferies Financial Group, Inc.:
4.15%, 1/23/2030
166,000
160,948
5.13%, 4/28/2031
165,000
163,215
Sumisho Air Lease Corp.:
3.13%, 12/1/2030
142,000
131,357
4.85%, 3/24/2031 (a)
590,000
584,548
 
1,145,945
ELECTRIC — 7.2%
AEP Texas, Inc.
Series I, 2.10%, 7/1/2030
262,000
237,676
Consolidated Edison Co. of New
York, Inc.
Series 20A, 3.35%, 4/1/2030
96,000
92,004
Dominion Energy, Inc.
Series C, 3.38%, 4/1/2030
213,000
203,939
DTE Energy Co.
5.20%, 4/1/2030
160,000
162,666
Duke Energy Corp.
2.45%, 6/1/2030
119,000
109,713
Duke Energy Florida LLC
4.20%, 12/1/2030
45,000
44,363
Exelon Corp.
4.05%, 4/15/2030
157,000
153,603
FirstEnergy Corp.:
Series B, 2.25%, 9/1/2030 (b)
295,000
265,727
2.65%, 3/1/2030
316,000
292,736
NRG Energy, Inc.
4.73%, 10/15/2030 (a)
200,000
197,058
Oncor Electric Delivery Co. LLC
2.75%, 5/15/2030
49,000
45,812
Security Description
 
Principal
Amount
Value
Pacific Gas & Electric Co.:
3.25%, 6/1/2031
$250,000
$231,013
4.55%, 7/1/2030
580,000
572,216
San Diego Gas & Electric Co.
Series VVV, 1.70%, 10/1/2030
72,000
63,840
Southern Co.
Series A, 3.70%, 4/30/2030
288,000
278,810
 
2,951,176
ELECTRICAL COMPONENTS & EQUIPMENT — 0.2%
Emerson Electric Co.
1.95%, 10/15/2030
99,000
89,268
ELECTRONICS — 0.2%
Honeywell International, Inc.
1.95%, 6/1/2030
100,000
90,630
FOOD — 0.4%
Kroger Co.
2.20%, 5/1/2030
55,000
50,239
Mars, Inc.
4.80%, 3/1/2030 (a)
93,000
93,628
 
143,867
HEALTH CARE PRODUCTS — 1.7%
Baxter International, Inc.
4.90%, 12/15/2030
240,000
237,900
Dentsply Sirona, Inc.
3.25%, 6/1/2030 (b)
15,000
13,881
Stryker Corp.
1.95%, 6/15/2030
441,000
399,118
Zimmer Biomet Holdings, Inc.
3.55%, 3/20/2030
36,000
34,558
 
685,457
HEALTH CARE SERVICES — 5.3%
Centene Corp.:
3.00%, 10/15/2030
50,000
45,065
3.38%, 2/15/2030
350,000
325,525
Elevance Health, Inc.
4.75%, 2/15/2030
220,000
220,983
HCA, Inc.:
3.50%, 9/1/2030
730,000
693,544
5.25%, 3/1/2030
113,000
114,942
UnitedHealth Group, Inc.:
2.00%, 5/15/2030
252,000
229,048
5.30%, 2/15/2030
519,000
531,575
 
2,160,682
HOME BUILDERS — 0.2%
Lennar Corp.
5.20%, 7/30/2030
100,000
101,454
INSURANCE — 1.5%
Berkshire Hathaway Finance Corp.
1.85%, 3/12/2030 (b)
247,000
226,632
Brown & Brown, Inc.
4.90%, 6/23/2030
100,000
99,985
Lincoln National Corp.
3.05%, 1/15/2030 (b)
198,000
185,837
See accompanying notes to Schedule of Investments.
25

STATE STREET MY2030 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Prudential Financial, Inc.
Series MTN, 2.10%, 3/10/2030
(b)
$91,000
$83,792
 
596,246
INTERNET — 3.8%
Airbnb, Inc.
4.65%, 3/16/2031 (b)
135,000
134,947
Alphabet, Inc.:
4.00%, 5/15/2030
345,000
341,036
4.10%, 11/15/2030
385,000
380,911
Amazon.com, Inc.:
1.50%, 6/3/2030 (b)
273,000
244,294
4.25%, 3/13/2031
140,000
138,407
Expedia Group, Inc.
3.25%, 2/15/2030 (b)
20,000
18,986
Meta Platforms, Inc.:
4.20%, 11/15/2030
40,000
39,468
4.55%, 5/15/2031
85,000
84,673
4.80%, 5/15/2030
124,000
125,715
Uber Technologies, Inc.
4.15%, 1/15/2031 (b)
55,000
53,798
 
1,562,235
INVESTMENT COMPANY SECURITIES — 0.9%
ARES Capital Corp.
5.50%, 9/1/2030
160,000
158,448
Goldman Sachs Private Credit
Corp.
6.25%, 5/6/2030
200,000
202,740
 
361,188
IRON/STEEL — 0.8%
Vale Overseas Ltd.
3.75%, 7/8/2030
360,000
343,811
IT SERVICES — 0.2%
Apple, Inc.
4.15%, 5/10/2030
55,000
55,032
CGI, Inc.
4.95%, 3/14/2030
14,000
13,961
 
68,993
LODGING — 0.9%
Marriott International, Inc.
Series FF, 4.63%, 6/15/2030
24,000
23,946
Sands China Ltd.
4.38%, 6/18/2030 (b)
335,000
327,315
 
351,261
MACHINERY-DIVERSIFIED — 1.8%
CNH Industrial Capital LLC
4.50%, 10/16/2030
100,000
98,751
Deere & Co.
3.10%, 4/15/2030
146,000
139,157
Flowserve Corp.
3.50%, 10/1/2030
389,000
367,228
Security Description
 
Principal
Amount
Value
John Deere Capital Corp.
Series I, 4.55%, 6/5/2030
$135,000
$135,498
 
740,634
MEDIA — 1.0%
Charter Communications
Operating LLC/Charter
Communications Operating
Capital
2.80%, 4/1/2031
246,000
219,835
Discovery Communications LLC
3.63%, 5/15/2030
201,000
186,446
Paramount Global
7.88%, 7/30/2030
9,000
9,449
 
415,730
MINING — 0.6%
Freeport-McMoRan, Inc.:
4.25%, 3/1/2030
50,000
49,192
4.63%, 8/1/2030
46,000
45,849
Glencore Funding LLC
2.50%, 9/1/2030 (a)
146,000
133,057
 
228,098
OIL & GAS — 5.5%
BP Capital Markets America, Inc.
1.75%, 8/10/2030
330,000
295,630
Chevron Corp.
2.24%, 5/11/2030 (b)
93,000
85,881
ConocoPhillips Co.
4.70%, 1/15/2030
100,000
100,710
Diamondback Energy, Inc.
5.15%, 1/30/2030
543,000
553,719
Exxon Mobil Corp.
2.61%, 10/15/2030
147,000
136,986
Occidental Petroleum Corp.
6.63%, 9/1/2030
149,000
158,880
Ovintiv, Inc.
8.13%, 9/15/2030
72,000
80,626
Pioneer Natural Resources Co.:
1.90%, 8/15/2030
522,000
470,928
2.15%, 1/15/2031
46,000
41,429
Shell Finance U.S., Inc.
2.75%, 4/6/2030
116,000
109,133
TotalEnergies Capital International
SA
2.83%, 1/10/2030
153,000
144,848
Viper Energy Partners LLC
4.90%, 8/1/2030
55,000
54,942
 
2,233,712
OIL & GAS SERVICES — 0.2%
Halliburton Co.
2.92%, 3/1/2030
58,000
54,584
Schlumberger Holdings Corp.
2.65%, 6/26/2030 (a)
46,000
42,786
 
97,370
See accompanying notes to Schedule of Investments.
26

STATE STREET MY2030 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
PACKAGING & CONTAINERS — 0.7%
Amcor Flexibles North America,
Inc.
2.63%, 6/19/2030
$95,000
$87,480
Sonoco Products Co.
3.13%, 5/1/2030
196,000
184,387
 
271,867
PHARMACEUTICALS — 6.4%
AbbVie, Inc.
4.95%, 3/15/2031
121,000
123,092
Astrazeneca Finance LLC
4.90%, 3/3/2030
142,000
144,319
AstraZeneca PLC
1.38%, 8/6/2030
8,000
7,071
Bayer U.S. Finance LLC
6.38%, 11/21/2030 (a)
200,000
210,488
Becton Dickinson & Co.
2.82%, 5/20/2030
141,000
131,677
CVS Health Corp.
5.13%, 2/21/2030
822,000
833,459
Eli Lilly & Co.
4.75%, 2/12/2030
75,000
76,064
GlaxoSmithKline Capital, Inc.
4.50%, 4/15/2030
20,000
20,060
McKesson Corp.
4.65%, 5/30/2030
32,000
32,086
Novartis Capital Corp.
4.10%, 11/5/2030
10,000
9,843
Pfizer Investment Enterprises Pte.
Ltd.
4.65%, 5/19/2030
306,000
307,622
Pfizer, Inc.
2.63%, 4/1/2030
16,000
14,982
Viatris, Inc.
2.70%, 6/22/2030
770,000
703,618
 
2,614,381
PIPELINES — 6.0%
Energy Transfer LP
6.40%, 12/1/2030
769,000
819,316
Enterprise Products
Operating LLC
2.80%, 1/31/2030
506,000
476,955
ONEOK, Inc.:
3.10%, 3/15/2030
174,000
164,378
5.80%, 11/1/2030
236,000
244,765
Sabine Pass Liquefaction LLC
4.50%, 5/15/2030
480,000
477,062
Targa Resources
Partners LP/Targa Resources
Partners Finance Corp.
5.50%, 3/1/2030
259,000
262,191
 
2,444,667
Security Description
 
Principal
Amount
Value
REAL ESTATE INVESTMENT TRUSTS — 3.3%
Alexandria Real Estate Equities,
Inc.
4.90%, 12/15/2030
$350,000
$350,371
Essex Portfolio LP
3.00%, 1/15/2030
275,000
259,520
Extra Space Storage LP
5.50%, 7/1/2030
349,000
357,931
Federal Realty OP LP
3.50%, 6/1/2030
132,000
125,879
Kite Realty Group Trust
4.75%, 9/15/2030
190,000
190,196
Prologis LP
1.25%, 10/15/2030
14,000
12,196
Store Capital LLC
4.95%, 2/11/2031 (a)
70,000
69,306
 
1,365,399
RETAIL — 3.5%
AutoNation, Inc.
4.75%, 6/1/2030
406,000
403,946
AutoZone, Inc.
4.00%, 4/15/2030
180,000
175,710
Home Depot, Inc.
2.70%, 4/15/2030
172,000
161,730
Lowe's Cos., Inc.
4.50%, 4/15/2030
106,000
105,932
McDonald's Corp.:
Series MTN, 2.13%, 3/1/2030
190,000
174,475
Series MTN, 3.60%, 7/1/2030
(b)
294,000
284,989
Tractor Supply Co.
1.75%, 11/1/2030
113,000
99,651
Walmart, Inc.
4.35%, 4/28/2030
24,000
24,130
 
1,430,563
SEMICONDUCTORS — 5.8%
Broadcom, Inc.:
4.15%, 11/15/2030
501,000
492,328
4.35%, 2/15/2030
153,000
152,083
4.60%, 7/15/2030
92,000
91,981
5.00%, 4/15/2030
164,000
166,334
5.05%, 4/15/2030
227,000
230,734
Intel Corp.:
4.65%, 6/1/2031
60,000
59,539
5.13%, 2/10/2030 (b)
323,000
327,880
Marvell Technology, Inc.
4.75%, 7/15/2030
255,000
255,803
Xilinx, Inc.
2.38%, 6/1/2030 (b)
635,000
587,007
 
2,363,689
SHIPBUILDING — 0.3%
Huntington Ingalls Industries, Inc.
4.20%, 5/1/2030
121,000
118,436
See accompanying notes to Schedule of Investments.
27

STATE STREET MY2030 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
SOFTWARE — 2.9%
Intuit, Inc.
1.65%, 7/15/2030
$55,000
$48,878
Oracle Corp.:
4.65%, 5/6/2030
119,000
117,084
4.95%, 2/4/2031 (b)
370,000
363,740
Paychex, Inc.
5.10%, 4/15/2030
180,000
182,038
ROBLOX Corp.
3.88%, 5/1/2030 (a)
100,000
94,400
Synopsys, Inc.
4.85%, 4/1/2030
369,000
370,978
 
1,177,118
TELECOMMUNICATIONS — 5.0%
AT&T, Inc.
4.30%, 2/15/2030 (b)
601,000
595,345
Deutsche Telekom International
Finance BV
8.75%, 6/15/2030
317,000
358,508
T-Mobile USA, Inc.
3.88%, 4/15/2030
939,000
913,760
Verizon Communications, Inc.
3.15%, 3/22/2030
164,000
156,239
 
2,023,852
TRANSPORTATION — 1.2%
CSX Corp.
2.40%, 2/15/2030
56,000
51,990
FedEx Corp.
4.25%, 5/15/2030
150,000
148,128
Norfolk Southern Corp.
5.05%, 8/1/2030
70,000
71,209
Union Pacific Corp.
2.40%, 2/5/2030
145,000
134,969
United Parcel Service, Inc.
4.45%, 4/1/2030
99,000
99,336
 
505,632
TOTAL CORPORATE BONDS &
NOTES
(Cost $40,141,000)
40,075,198
Security Description
 
Shares
Value
SHORT-TERM INVESTMENTS — 8.8%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (d) (e)
309,751
$309,751
State Street Navigator Securities
Lending Portfolio II (f) (g)
3,268,823
3,268,823
TOTAL SHORT-TERM INVESTMENTS
(Cost $3,578,574)
3,578,574
TOTAL INVESTMENTS — 107.0%
(Cost $43,719,574)
43,653,772
LIABILITIES IN EXCESS OF OTHER ASSETS
— (7.0)%
(2,847,138)
NET ASSETS — 100.0%
$40,806,634
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 4.6% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
All or a portion of the shares of the security are on loan at
May 31, 2026.
(c)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(d)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(e)
The rate shown is the annualized seven-day yield at
May 31, 2026.
(f)
The Fund invested in an affiliated entity. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(g)
Investment of cash collateral for securities loaned.
*
Amount is less than 0.05% of net assets.
Abbreviations:
 
MTN
Medium Term Note
SOFR
Secured Overnight Financing Rate
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$40,075,198
$
$40,075,198
Short-Term Investments
3,578,574
3,578,574
TOTAL INVESTMENTS
$3,578,574
$40,075,198
$
$43,653,772
See accompanying notes to Schedule of Investments.
28

STATE STREET MY2030 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier
Class
283,471
$283,471
$2,763,350
$2,737,070
$
$
309,751
$309,751
$6,686
State Street Navigator Securities Lending Portfolio II
1,076,755
1,076,755
19,798,570
17,606,502
3,268,823
3,268,823
3,624
Total
$1,360,226
$22,561,920
$20,343,572
$
$
$3,578,574
$10,310
See accompanying notes to Schedule of Investments.
29

STATE STREET MY2031 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 98.4%
AEROSPACE & DEFENSE — 8.6%
Boeing Co.:
3.63%, 2/1/2031
$100,000
$95,350
6.39%, 5/1/2031
455,000
485,303
Honeywell Aerospace, Inc.
4.30%, 3/16/2031 (a)
125,000
123,085
Howmet Aerospace, Inc.
4.85%, 10/15/2031
300,000
301,884
L3Harris Technologies, Inc.
5.25%, 6/1/2031
365,000
372,884
RTX Corp.
6.00%, 3/15/2031
210,000
222,335
 
1,600,841
AGRICULTURE — 6.9%
BAT Capital Corp.:
2.73%, 3/25/2031
50,000
45,665
5.83%, 2/20/2031
245,000
255,699
Bunge Ltd. Finance Corp.
2.75%, 5/14/2031
440,000
402,177
Philip Morris International, Inc.:
4.75%, 11/1/2031
175,000
175,723
5.13%, 2/13/2031
405,000
413,566
 
1,292,830
AUTO MANUFACTURERS — 3.7%
American Honda Finance Corp.
Series GMTN, 5.05%,
7/10/2031 (b)
20,000
20,116
Ford Motor Co.
3.25%, 2/12/2032
75,000
66,460
General Motors Financial Co., Inc.:
2.35%, 1/8/2031
50,000
44,819
5.60%, 6/18/2031
495,000
509,736
Toyota Motor Credit Corp.
5.10%, 3/21/2031
40,000
40,836
 
681,967
BANKS — 11.1%
Banco Santander SA:
4.87%, 4/15/2031
340,000
338,008
5.44%, 7/15/2031
200,000
205,546
Bank of America Corp.
SOFR + 1.32%, 2.69%,
4/22/2032 (c)
100,000
90,770
Bank of Montreal
5.51%, 6/4/2031
540,000
559,343
Bank of New York Mellon Corp.
Series MTN, 1.80%, 7/28/2031
300,000
261,492
Citigroup, Inc.
SOFR + 1.17%, 2.56%,
5/1/2032 (c)
60,000
53,980
Goldman Sachs Group, Inc.
SOFR + 1.28%, 2.62%,
4/22/2032 (c)
60,000
54,033
Security Description
 
Principal
Amount
Value
Huntington Bancshares, Inc.
SOFR + 1.28%, 5.27%,
1/15/2031 (b) (c)
$15,000
$15,212
JPMorgan Chase & Co.
3 mo. USD Term SOFR +
1.25%, 2.58%, 4/22/2032 (c)
75,000
67,751
Morgan Stanley
SOFR + 1.20%, 4.71%,
3/12/2032 (c)
250,000
247,717
Toronto-Dominion Bank
Series MTN, 2.00%, 9/10/2031
(b)
200,000
177,056
 
2,070,908
BEVERAGES — 2.8%
Anheuser-Busch InBev Worldwide,
Inc.
4.90%, 1/23/2031
285,000
289,848
Constellation Brands, Inc.
2.25%, 8/1/2031
70,000
61,769
Keurig Dr. Pepper, Inc.
Series 10, 5.20%, 3/15/2031
10,000
10,133
Maple Parent Holdings Corp.
5.05%, 3/26/2031 (a)
60,000
60,044
PepsiCo, Inc.
1.40%, 2/25/2031 (b)
125,000
109,065
 
530,859
BIOTECHNOLOGY — 1.1%
Illumina, Inc.
2.55%, 3/23/2031
50,000
45,234
Royalty Pharma PLC
2.15%, 9/2/2031 (b)
185,000
162,491
 
207,725
CHEMICALS — 0.3%
Eastman Chemical Co.
4.50%, 2/20/2031
50,000
49,069
COMPUTERS — 1.7%
Leidos, Inc.
2.30%, 2/15/2031
360,000
321,419
CONSTRUCTION MATERIALS — 1.2%
Carrier Global Corp.
2.70%, 2/15/2031
55,000
50,500
CRH America Finance, Inc.
4.40%, 2/9/2031
125,000
123,294
Martin Marietta Materials, Inc.
2.40%, 7/15/2031
50,000
44,783
 
218,577
DIVERSIFIED FINANCIAL SERVICES — 3.6%
Charles Schwab Corp.
2.30%, 5/13/2031
175,000
156,896
Jefferies Financial Group, Inc.:
2.63%, 10/15/2031
50,000
43,694
5.13%, 4/28/2031
70,000
69,243
Sumisho Air Lease Corp.:
4.85%, 3/24/2031 (a)
295,000
292,274
See accompanying notes to Schedule of Investments.
30

STATE STREET MY2031 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Series MTN, 5.20%, 7/15/2031
$100,000
$100,503
 
662,610
ELECTRIC — 6.0%
Appalachian Power Co.
Series AA, 2.70%, 4/1/2031
101,000
92,097
DTE Electric Co.
Series C, 2.63%, 3/1/2031
50,000
45,863
Duke Energy Florida LLC
2.40%, 12/15/2031
125,000
111,474
Georgia Power Co.
4.85%, 3/15/2031
125,000
126,308
Pacific Gas & Electric Co.
3.25%, 6/1/2031
410,000
378,860
PacifiCorp
5.30%, 2/15/2031
90,000
91,506
Public Service Enterprise Group,
Inc.
2.45%, 11/15/2031
180,000
159,998
Southern California Edison Co.
5.45%, 6/1/2031
70,000
71,385
Virginia Electric & Power Co.
2.30%, 11/15/2031
50,000
44,506
 
1,121,997
ELECTRONICS — 0.8%
Vontier Corp.
2.95%, 4/1/2031
155,000
140,721
FOOD — 0.5%
JBS NV/JBS USA Foods Group
Holdings, Inc./JBS USA Food
Co. Holdings
3.75%, 12/1/2031
110,000
102,714
HEALTH CARE PRODUCTS — 0.6%
Agilent Technologies, Inc.
2.30%, 3/12/2031
45,000
40,331
Revvity, Inc.
2.55%, 3/15/2031
45,000
40,449
Thermo Fisher Scientific, Inc.
2.00%, 10/15/2031 (b)
30,000
26,465
 
107,245
HEALTH CARE SERVICES — 4.1%
Centene Corp.:
2.63%, 8/1/2031
100,000
86,819
3.00%, 10/15/2030
100,000
90,129
HCA, Inc.:
2.38%, 7/15/2031
170,000
150,698
5.45%, 4/1/2031
235,000
240,299
Humana, Inc.
5.38%, 4/15/2031
25,000
25,388
UnitedHealth Group, Inc.
4.90%, 4/15/2031
170,000
172,088
 
765,421
HOUSEHOLD PRODUCTS — 0.5%
Procter & Gamble Co.
1.95%, 4/23/2031 (b)
100,000
89,618
Security Description
 
Principal
Amount
Value
HOUSEHOLD PRODUCTS & WARES — 0.9%
Church & Dwight Co., Inc.
2.30%, 12/15/2031
$200,000
$176,704
INSURANCE — 1.1%
Arthur J Gallagher & Co.
2.40%, 11/9/2031
40,000
35,398
Athene Holding Ltd.
3.50%, 1/15/2031
85,000
79,685
Brown & Brown, Inc.
2.38%, 3/15/2031
40,000
35,512
Corebridge Financial, Inc.
3.90%, 4/5/2032
25,000
23,514
Fidelity National Financial, Inc.
2.45%, 3/15/2031
40,000
35,396
 
209,505
INTERNET — 3.2%
Airbnb, Inc.
4.65%, 3/16/2031 (b)
145,000
144,943
Alphabet, Inc.
4.10%, 11/15/2030
45,000
44,522
Amazon.com, Inc.:
3.60%, 4/13/2032
25,000
23,770
4.25%, 3/13/2031
70,000
69,203
AppLovin Corp.
5.38%, 12/1/2031
25,000
25,441
Meta Platforms, Inc.:
4.20%, 11/15/2030
30,000
29,601
4.55%, 5/15/2031
40,000
39,846
Uber Technologies, Inc.
4.15%, 1/15/2031 (b)
225,000
220,084
 
597,410
INVESTMENT COMPANY SECURITIES — 0.2%
ARES Capital Corp.
3.20%, 11/15/2031 (b)
50,000
43,937
IT SERVICES — 3.1%
Hewlett Packard Enterprise Co.
4.85%, 10/15/2031
50,000
49,935
IBM International Capital Pte. Ltd.
4.75%, 2/5/2031 (b)
480,000
481,723
Leidos, Inc.
5.40%, 3/15/2032
40,000
40,748
 
572,406
LEISURE TIME — 0.3%
Royal Caribbean Cruises Ltd.
5.63%, 9/30/2031 (a)
50,000
50,447
LODGING — 1.2%
Marriott International, Inc.
Series HH, 2.85%, 4/15/2031
240,000
220,315
MACHINERY-DIVERSIFIED — 0.5%
Ingersoll Rand, Inc.
5.31%, 6/15/2031 (b)
55,000
56,278
See accompanying notes to Schedule of Investments.
31

STATE STREET MY2031 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
John Deere Capital Corp.
Series MTN, 4.90%, 3/7/2031
(b)
$40,000
$40,614
 
96,892
MEDIA — 1.1%
Charter Communications
Operating LLC/Charter
Communications Operating
Capital
2.80%, 4/1/2031
180,000
160,855
Comcast Corp.
1.95%, 1/15/2031
20,000
17,745
Walt Disney Co.
2.65%, 1/13/2031
30,000
27,804
 
206,404
MINING — 1.6%
Glencore Funding LLC:
2.85%, 4/27/2031 (a)
50,000
45,584
4.90%, 7/1/2031 (a)
250,000
250,002
 
295,586
MISCELLANEOUS MANUFACTURER — 1.1%
Eaton Corp.
4.20%, 3/6/2031
200,000
196,616
OFFICE & BUSINESS EQUIPMENT — 0.1%
CDW LLC/CDW Finance Corp.
3.57%, 12/1/2031
25,000
22,848
OIL & GAS — 2.1%
Diamondback Energy, Inc.
3.13%, 3/24/2031 (b)
105,000
98,344
Ovintiv, Inc.
7.38%, 11/1/2031
162,000
179,898
Pioneer Natural Resources Co.
2.15%, 1/15/2031
125,000
112,577
 
390,819
PACKAGING & CONTAINERS — 1.1%
Berry Global, Inc.
5.80%, 6/15/2031
170,000
176,872
WestRock MWV LLC
7.95%, 2/15/2031
20,000
22,541
 
199,413
PHARMACEUTICALS — 7.1%
AbbVie, Inc.
4.95%, 3/15/2031
327,000
332,654
Astrazeneca Finance LLC:
2.25%, 5/28/2031
100,000
89,978
4.90%, 2/26/2031
95,000
96,507
Bayer U.S. Finance LLC
6.38%, 11/21/2030 (a)
50,000
52,622
Becton Dickinson & Co.
1.96%, 2/11/2031
140,000
123,849
Bristol-Myers Squibb Co.
5.75%, 2/1/2031
25,000
26,215
Security Description
 
Principal
Amount
Value
Cencora, Inc.
2.70%, 3/15/2031
$45,000
$41,088
CVS Health Corp.:
1.88%, 2/28/2031
180,000
158,123
5.55%, 6/1/2031
360,000
371,045
Novartis Capital Corp.
4.00%, 9/18/2031
40,000
39,200
 
1,331,281
PIPELINES — 1.4%
Enterprise Products
Operating LLC
4.60%, 1/15/2031 (b)
50,000
49,959
Kinder Morgan, Inc.
2.00%, 2/15/2031
55,000
48,809
ONEOK, Inc.
6.35%, 1/15/2031
50,000
52,913
Targa Resources
Partners LP/Targa Resources
Partners Finance Corp.
4.88%, 2/1/2031
80,000
79,954
Williams Cos., Inc.
2.60%, 3/15/2031
40,000
36,273
 
267,908
REAL ESTATE INVESTMENT TRUSTS — 4.3%
Alexandria Real Estate Equities,
Inc.
3.38%, 8/15/2031
80,000
73,790
American Homes 4 Rent LP
2.38%, 7/15/2031
40,000
35,362
Brixmor Operating Partnership LP
2.50%, 8/16/2031
25,000
22,304
COPT Defense Properties LP
2.75%, 4/15/2031 (b)
40,000
36,256
Essex Portfolio LP
2.55%, 6/15/2031
30,000
26,929
Extra Space Storage LP
5.90%, 1/15/2031
151,000
157,156
Highwoods Realty LP
2.60%, 2/1/2031
90,000
80,243
Invitation Homes Operating
Partnership LP
2.00%, 8/15/2031
65,000
55,972
Phillips Edison Grocery Center
Operating Partnership I LP
2.63%, 11/15/2031
25,000
22,258
Store Capital LLC
4.95%, 2/11/2031 (a)
15,000
14,851
Tanger Properties LP
2.75%, 9/1/2031
20,000
17,851
Ventas Realty LP
2.50%, 9/1/2031
290,000
258,141
 
801,113
RETAIL — 3.0%
AutoNation, Inc.
2.40%, 8/1/2031
375,000
329,944
See accompanying notes to Schedule of Investments.
32

STATE STREET MY2031 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Dick's Sporting Goods, Inc.
3.15%, 1/15/2032 (b)
$60,000
$54,810
Dollar Tree, Inc.
2.65%, 12/1/2031
50,000
44,683
Home Depot, Inc.
1.88%, 9/15/2031
70,000
61,353
Lowe's Cos., Inc.
2.63%, 4/1/2031
75,000
68,399
 
559,189
SEMICONDUCTORS — 5.0%
Broadcom, Inc.
2.45%, 2/15/2031
365,000
331,511
Intel Corp.:
2.00%, 8/12/2031
270,000
235,640
4.65%, 6/1/2031
175,000
173,654
5.00%, 2/21/2031
190,000
191,862
 
932,667
SOFTWARE — 2.7%
Oracle Corp.:
2.88%, 3/25/2031
275,000
246,282
4.95%, 2/4/2031 (b)
105,000
103,223
Salesforce, Inc.
1.95%, 7/15/2031
75,000
65,509
Synopsys, Inc.
5.00%, 4/1/2032 (b)
50,000
50,316
VMware LLC
2.20%, 8/15/2031
50,000
44,199
 
509,529
TELECOMMUNICATIONS — 3.1%
AT&T, Inc.
2.75%, 6/1/2031
140,000
127,735
Cisco Systems, Inc.
4.95%, 2/26/2031
50,000
51,045
T-Mobile USA, Inc.:
2.88%, 2/15/2031
100,000
92,213
3.50%, 4/15/2031
270,000
255,787
Verizon Communications, Inc.
2.55%, 3/21/2031
60,000
54,741
 
581,521
TRANSPORTATION — 0.7%
Canadian Pacific Railway Co.
2.45%, 12/2/2031
35,000
31,135
Union Pacific Corp.
2.38%, 5/20/2031
100,000
90,564
 
121,699
TOTAL CORPORATE BONDS &
NOTES
(Cost $18,501,307)
18,348,730
Security Description
 
Shares
Value
SHORT-TERM INVESTMENTS — 9.5%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (d) (e)
91,779
$91,779
State Street Navigator Securities
Lending Portfolio II (f) (g)
1,667,197
1,667,197
TOTAL SHORT-TERM INVESTMENTS
(Cost $1,758,976)
1,758,976
TOTAL INVESTMENTS — 107.9%
(Cost $20,260,283)
20,107,706
LIABILITIES IN EXCESS OF OTHER ASSETS
— (7.9)%
(1,466,487)
NET ASSETS — 100.0%
$18,641,219
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 4.8% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
All or a portion of the shares of the security are on loan at
May 31, 2026.
(c)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(d)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(e)
The rate shown is the annualized seven-day yield at
May 31, 2026.
(f)
The Fund invested in an affiliated entity. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(g)
Investment of cash collateral for securities loaned.
Abbreviations:
 
GMTN
Global Medium Term Note
MTN
Medium Term Note
SOFR
Secured Overnight Financing Rate
See accompanying notes to Schedule of Investments.
33

STATE STREET MY2031 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$18,348,730
$
$18,348,730
Short-Term Investments
1,758,976
1,758,976
TOTAL INVESTMENTS
$1,758,976
$18,348,730
$
$20,107,706
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier
Class
61,370
$61,370
$1,657,510
$1,627,101
$
$
91,779
$91,779
$3,101
State Street Navigator Securities Lending Portfolio II
206,990
206,990
7,668,770
6,208,563
1,667,197
1,667,197
1,002
Total
$268,360
$9,326,280
$7,835,664
$
$
$1,758,976
$4,103
See accompanying notes to Schedule of Investments.
34

STATE STREET MY2032 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 97.1%
AEROSPACE & DEFENSE — 0.5%
Howmet Aerospace, Inc.
4.85%, 10/15/2031
$50,000
$50,314
AGRICULTURE — 5.1%
BAT Capital Corp.
5.35%, 8/15/2032
225,000
231,005
Philip Morris International, Inc.
5.75%, 11/17/2032
265,000
278,017
 
509,022
AUTO MANUFACTURERS — 3.3%
Ford Motor Co.:
3.25%, 2/12/2032
25,000
22,154
6.10%, 8/19/2032
70,000
71,807
General Motors Co.
5.60%, 10/15/2032
175,000
180,299
Toyota Motor Credit Corp.
4.65%, 9/3/2032
50,000
49,691
 
323,951
BANKS — 4.8%
Bank of America Corp.
SOFR + 1.83%, 4.57%,
4/27/2033 (a)
75,000
73,639
Citigroup, Inc.
SOFR + 2.09%, 4.91%,
5/24/2033 (a)
50,000
49,781
Goldman Sachs Group, Inc.
SOFR + 1.41%, 3.10%,
2/24/2033 (a)
75,000
67,984
Huntington Bancshares, Inc.
SOFR + 2.05%, 5.02%,
5/17/2033 (a)
50,000
49,717
JPMorgan Chase & Co.
SOFR + 1.80%, 4.59%,
4/26/2033 (a)
50,000
49,246
Keybank National Association
4.90%, 8/8/2032
75,000
73,720
Morgan Stanley
SOFR + 1.29%, 2.94%,
1/21/2033 (a)
50,000
45,055
Wells Fargo & Co.
Series MTN, SOFR + 1.50%,
3.35%, 3/2/2033 (a)
75,000
69,038
 
478,180
BEVERAGES — 1.2%
Constellation Brands, Inc.
4.75%, 5/9/2032
67,000
66,383
Diageo Capital PLC
2.13%, 4/29/2032
55,000
47,572
 
113,955
BIOTECHNOLOGY — 0.4%
Amgen, Inc.
3.35%, 2/22/2032
40,000
37,196
Security Description
 
Principal
Amount
Value
CHEMICALS — 0.4%
Ecolab, Inc.
2.13%, 2/1/2032
$50,000
$43,879
COMPUTERS — 3.4%
Apple, Inc.
3.35%, 8/8/2032
55,000
52,263
International Business Machines
Corp.
4.40%, 7/27/2032 (b)
290,000
283,890
 
336,153
DISTRIBUTION & WHOLESALE — 0.3%
LKQ Corp.
6.25%, 6/15/2033
25,000
25,864
DIVERSIFIED FINANCIAL SERVICES — 3.5%
AerCap Ireland Capital
DAC/AerCap Global Aviation
Trust
3.30%, 1/30/2032
106,000
97,007
Capital One Financial Corp.
6.70%, 11/29/2032
30,000
32,648
Charles Schwab Corp.
2.90%, 3/3/2032 (b)
60,000
54,474
Jefferies Financial Group, Inc.
2.75%, 10/15/2032
80,000
68,429
Sumisho Air Lease Corp.
Series MTN, 2.88%, 1/15/2032
105,000
93,766
 
346,324
ELECTRIC — 12.1%
AEP Texas, Inc.
4.70%, 5/15/2032
155,000
152,936
CenterPoint Energy Houston
Electric LLC
Series AI, 4.45%, 10/1/2032
230,000
225,885
DTE Electric Co.
Series A, 3.00%, 3/1/2032
75,000
69,068
Duke Energy Carolinas LLC
6.45%, 10/15/2032
43,000
46,684
Duke Energy Corp.
4.50%, 8/15/2032
100,000
98,450
Exelon Corp.
3.35%, 3/15/2032
100,000
92,592
Florida Power & Light Co.
2.45%, 2/3/2032
132,000
117,968
Georgia Power Co.
4.70%, 5/15/2032
50,000
50,022
Pacific Gas & Electric Co.
5.90%, 6/15/2032
175,000
181,253
Southern California Edison Co.
5.95%, 11/1/2032
80,000
83,358
Southern Co.
5.70%, 10/15/2032
80,000
83,420
 
1,201,636
ELECTRICAL COMPONENTS & EQUIPMENT — 0.3%
Emerson Electric Co.
6.00%, 8/15/2032
25,000
26,732
See accompanying notes to Schedule of Investments.
35

STATE STREET MY2032 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
ELECTRONICS — 0.0%*
Honeywell International, Inc.
4.75%, 2/1/2032
$4,000
$4,008
ENTERTAINMENT — 0.7%
Discovery Global Holdings, Inc.
4.28%, 3/15/2032
76,000
68,454
ENVIRONMENTAL CONTROL — 0.2%
Waste Connections, Inc.
3.20%, 6/1/2032
25,000
22,995
FOOD — 4.3%
JBS NV/JBS USA Foods Group
Holdings, Inc./JBS USA Food
Co. Holdings:
3.00%, 5/15/2032
220,000
195,613
3.63%, 1/15/2032
26,000
24,066
Kraft Heinz Foods Co.
5.20%, 3/15/2032
150,000
152,349
McCormick & Co., Inc.
4.95%, 4/15/2033 (b)
50,000
49,771
 
421,799
HEALTH CARE PRODUCTS — 0.3%
Thermo Fisher Scientific, Inc.
4.95%, 11/21/2032
25,000
25,292
HEALTH CARE SERVICES — 3.4%
HCA, Inc.:
3.63%, 3/15/2032
180,000
167,522
5.50%, 3/1/2032
104,000
106,645
UnitedHealth Group, Inc.
4.20%, 5/15/2032
65,000
63,282
 
337,449
HOUSEHOLD PRODUCTS & WARES — 2.5%
Church & Dwight Co., Inc.
5.60%, 11/15/2032
235,000
246,101
INSURANCE — 3.8%
Arthur J Gallagher & Co.
5.00%, 2/15/2032 (b)
100,000
100,099
Brown & Brown, Inc.
4.20%, 3/17/2032
50,000
47,536
Corebridge Financial, Inc.
3.90%, 4/5/2032
105,000
98,759
Lincoln National Corp.
3.40%, 3/1/2032 (b)
80,000
73,177
Progressive Corp.
6.25%, 12/1/2032
50,000
54,243
 
373,814
INTERNET — 2.4%
Amazon.com, Inc.
4.70%, 12/1/2032 (b)
130,000
131,307
Meta Platforms, Inc.:
4.60%, 11/15/2032
30,000
29,610
4.88%, 5/15/2033
75,000
74,820
 
235,737
Security Description
 
Principal
Amount
Value
IRON/STEEL — 2.5%
ArcelorMittal SA
6.80%, 11/29/2032 (b)
$190,000
$209,464
Vale Overseas Ltd.
6.13%, 6/12/2033
40,000
42,150
 
251,614
IT SERVICES — 2.6%
Leidos, Inc.
5.40%, 3/15/2032
130,000
132,432
NetApp, Inc.
5.50%, 3/17/2032
125,000
127,894
 
260,326
LEISURE TIME — 0.5%
Royal Caribbean Cruises Ltd.
5.63%, 9/30/2031 (c)
50,000
50,447
LODGING — 1.5%
Hyatt Hotels Corp.
5.75%, 3/30/2032
140,000
144,655
MACHINERY-DIVERSIFIED — 0.9%
Flowserve Corp.
2.80%, 1/15/2032
105,000
93,178
MEDIA — 0.8%
Charter Communications
Operating LLC/Charter
Communications Operating
Capital
4.40%, 4/1/2033
80,000
73,959
MINING — 0.5%
Glencore Funding LLC
2.63%, 9/23/2031 (c)
60,000
53,694
MISCELLANEOUS MANUFACTURER — 1.2%
Eaton Corp.
4.00%, 11/2/2032 (b)
125,000
120,756
OIL & GAS — 2.3%
BP Capital Markets America, Inc.
2.72%, 1/12/2032
180,000
162,634
Occidental Petroleum Corp.
5.38%, 1/1/2032
65,000
66,830
 
229,464
PACKAGING & CONTAINERS — 2.4%
Sonoco Products Co.
2.85%, 2/1/2032 (b)
160,000
144,280
WRKCo, Inc.
4.20%, 6/1/2032
100,000
95,970
 
240,250
PHARMACEUTICALS — 2.2%
Becton Dickinson & Co.
4.30%, 8/22/2032
105,000
101,966
Bristol-Myers Squibb Co.
2.95%, 3/15/2032
50,000
45,787
See accompanying notes to Schedule of Investments.
36

STATE STREET MY2032 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Zoetis, Inc.
5.60%, 11/16/2032
$65,000
$67,667
 
215,420
PIPELINES — 2.6%
Cheniere Energy Partners LP
3.25%, 1/31/2032
80,000
73,433
Kinder Morgan, Inc.
4.80%, 2/1/2033
50,000
49,601
ONEOK, Inc.
6.10%, 11/15/2032
75,000
79,193
Targa Resources
Partners LP/Targa Resources
Partners Finance Corp.
4.00%, 1/15/2032
59,000
56,160
 
258,387
REAL ESTATE — 0.6%
CBRE Services, Inc.
4.90%, 1/15/2033 (b)
60,000
59,195
REAL ESTATE INVESTMENT TRUSTS — 3.2%
Alexandria Real Estate Equities,
Inc.
2.00%, 5/18/2032
100,000
84,135
American Homes 4 Rent LP
3.63%, 4/15/2032 (b)
50,000
46,483
American Tower Corp.
4.05%, 3/15/2032
50,000
48,043
Extra Space Storage LP
2.35%, 3/15/2032
80,000
69,417
Simon Property Group LP
2.65%, 2/1/2032
80,000
71,484
 
319,562
RETAIL — 4.0%
AutoNation, Inc.
3.85%, 3/1/2032
50,000
46,725
Dick's Sporting Goods, Inc.
3.15%, 1/15/2032 (b)
225,000
205,537
Home Depot, Inc.
3.25%, 4/15/2032
50,000
46,623
Lowe's Cos., Inc.
3.75%, 4/1/2032
70,000
66,336
Starbucks Corp.
3.00%, 2/14/2032 (b)
30,000
27,459
 
392,680
SEMICONDUCTORS — 6.6%
Advanced Micro Devices, Inc.
3.92%, 6/1/2032
240,000
232,702
Broadcom, Inc.
4.30%, 11/15/2032
150,000
145,683
Intel Corp.
4.00%, 12/15/2032 (b)
50,000
47,284
Micron Technology, Inc.
2.70%, 4/15/2032
200,000
179,474
QUALCOMM, Inc.
4.25%, 5/20/2032 (b)
20,000
19,676
Security Description
 
Principal
Amount
Value
Texas Instruments, Inc.
3.65%, 8/16/2032 (b)
$25,000
$23,814
 
648,633
SOFTWARE — 4.6%
Oracle Corp.:
5.35%, 5/4/2033
55,000
54,125
6.25%, 11/9/2032
200,000
207,078
Synopsys, Inc.
5.00%, 4/1/2032
80,000
80,506
Take-Two Interactive Software,
Inc.
4.00%, 4/14/2032
75,000
71,543
VMware LLC
2.20%, 8/15/2031
50,000
44,199
 
457,451
TELECOMMUNICATIONS — 4.5%
AT&T, Inc.
2.25%, 2/1/2032
280,000
244,488
T-Mobile USA, Inc.
2.70%, 3/15/2032
130,000
115,917
Verizon Communications, Inc.
2.36%, 3/15/2032
100,000
87,798
 
448,203
TRANSPORTATION — 0.5%
Norfolk Southern Corp.
3.00%, 3/15/2032
50,000
45,731
TRUCKING & LEASING — 0.2%
GATX Corp.
3.50%, 6/1/2032
25,000
23,121
TOTAL CORPORATE BONDS &
NOTES
(Cost $9,692,139)
9,615,581
 
 
Shares
 
SHORT-TERM INVESTMENTS — 7.2%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (d) (e)
192,856
192,856
State Street Navigator Securities
Lending Portfolio II (f) (g)
518,967
518,967
TOTAL SHORT-TERM INVESTMENTS
(Cost $711,823)
711,823
TOTAL INVESTMENTS — 104.3%
(Cost $10,403,962)
10,327,404
LIABILITIES IN EXCESS OF OTHER ASSETS
— (4.3)%
(429,038)
NET ASSETS — 100.0%
$9,898,366
See accompanying notes to Schedule of Investments.
37

STATE STREET MY2032 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
(a)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(b)
All or a portion of the shares of the security are on loan at
May 31, 2026.
(c)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 1.1% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(d)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(e)
The rate shown is the annualized seven-day yield at
May 31, 2026.
(f)
The Fund invested in an affiliated entity. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(g)
Investment of cash collateral for securities loaned.
*
Amount is less than 0.05% of net assets.
Abbreviations:
 
MTN
Medium Term Note
SOFR
Secured Overnight Financing Rate
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$9,615,581
$
$9,615,581
Short-Term Investments
711,823
711,823
TOTAL INVESTMENTS
$711,823
$9,615,581
$
$10,327,404
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier
Class
82,583
$82,583
$533,198
$422,925
$
$
192,856
$192,856
$3,023
State Street Navigator Securities Lending Portfolio II
574,158
574,158
6,345,408
6,400,599
518,967
518,967
1,012
Total
$656,741
$6,878,606
$6,823,524
$
$
$711,823
$4,035
See accompanying notes to Schedule of Investments.
38

STATE STREET MY2033 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 97.2%
AEROSPACE & DEFENSE — 3.5%
Boeing Co.
6.13%, 2/15/2033
$75,000
$80,215
L3Harris Technologies, Inc.
5.40%, 7/31/2033
215,000
220,616
 
300,831
AGRICULTURE — 2.6%
BAT Capital Corp.
4.63%, 3/22/2033
85,000
83,415
Philip Morris International, Inc.
5.38%, 2/15/2033
141,000
145,141
 
228,556
AUTO MANUFACTURERS — 2.0%
General Motors Financial Co., Inc.
6.40%, 1/9/2033 (a)
165,000
176,131
BANKS — 8.2%
Banco Santander SA
6.35%, 3/14/2034
200,000
211,756
Bank of America Corp.
SOFR + 1.91%, 5.29%,
4/25/2034 (b)
105,000
106,626
Goldman Sachs Group, Inc.
SOFR + 1.41%, 3.10%,
2/24/2033 (b)
65,000
58,920
Huntington Bancshares, Inc.
SOFR + 2.05%, 5.02%,
5/17/2033 (b)
65,000
64,632
JPMorgan Chase & Co.
SOFR + 1.85%, 5.35%, 6/1/2034
(b)
105,000
107,094
KeyCorp
Series MTN, SOFR + 2.06%,
4.79%, 6/1/2033 (a) (b)
65,000
63,675
U.S. Bancorp
Series MTN, SOFR + 2.11%,
4.97%, 7/22/2033 (b)
100,000
98,970
 
711,673
BEVERAGES — 1.8%
Anheuser-Busch InBev Worldwide,
Inc.
6.63%, 8/15/2033
140,000
154,694
BIOTECHNOLOGY — 0.9%
Amgen, Inc.
5.25%, 3/2/2033
75,000
76,586
CHEMICALS — 1.0%
Dow Chemical Co.
6.30%, 3/15/2033
40,000
42,255
Eastman Chemical Co.
5.75%, 3/8/2033
40,000
41,457
 
83,712
Security Description
 
Principal
Amount
Value
COMMERCIAL SERVICES — 2.9%
Verisk Analytics, Inc.
5.75%, 4/1/2033
$239,000
$248,438
COMPUTERS — 1.9%
Leidos, Inc.
5.75%, 3/15/2033
160,000
165,677
COSMETICS/PERSONAL CARE — 0.5%
Kenvue, Inc.
4.90%, 3/22/2033
40,000
40,252
DISTRIBUTION & WHOLESALE — 0.5%
LKQ Corp.
6.25%, 6/15/2033
40,000
41,382
DIVERSIFIED FINANCIAL SERVICES — 1.5%
Apollo Global Management, Inc.
6.38%, 11/15/2033 (a)
80,000
85,777
Capital One Financial Corp.
6.70%, 11/29/2032
45,000
48,972
 
134,749
ELECTRIC — 10.5%
AEP Texas, Inc.
5.40%, 6/1/2033
100,000
101,823
Constellation Energy
Generation LLC
5.80%, 3/1/2033
76,000
79,550
DTE Electric Co.
5.20%, 4/1/2033
80,000
81,932
Duke Energy Florida LLC
5.88%, 11/15/2033
135,000
142,934
Exelon Corp.
5.30%, 3/15/2033
112,000
114,537
Georgia Power Co.
4.95%, 5/17/2033
89,000
89,679
National Grid PLC
5.81%, 6/12/2033
112,000
116,883
Pacific Gas & Electric Co.
6.40%, 6/15/2033
90,000
95,668
Southern Co.
5.20%, 6/15/2033
84,000
84,916
 
907,922
ENVIRONMENTAL CONTROL — 1.0%
Waste Connections, Inc.
4.20%, 1/15/2033
90,000
86,737
FOOD — 3.7%
JBS NV/JBS USA Foods Group
Holdings, Inc./JBS USA Food Co.
Holdings
5.75%, 4/1/2033
310,000
318,658
Pilgrim's Pride Corp.
6.25%, 7/1/2033
6,000
6,268
 
324,926
HEALTH CARE PRODUCTS — 0.2%
Thermo Fisher Scientific, Inc.
5.09%, 8/10/2033
20,000
20,294
See accompanying notes to Schedule of Investments.
39

STATE STREET MY2033 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
HEALTH CARE SERVICES — 3.0%
HCA, Inc.
5.50%, 6/1/2033
$190,000
$193,967
UnitedHealth Group, Inc.
5.35%, 2/15/2033
65,000
66,873
 
260,840
HOUSEHOLD PRODUCTS & WARES — 0.8%
Church & Dwight Co., Inc.
5.60%, 11/15/2032
65,000
68,071
INSURANCE — 3.1%
Allstate Corp.
5.35%, 6/1/2033
20,000
20,499
American International Group, Inc.
5.13%, 3/27/2033 (a)
68,000
68,706
Arthur J Gallagher & Co.
5.50%, 3/2/2033
40,000
41,122
Corebridge Financial, Inc.
6.05%, 9/15/2033
96,000
100,728
Progressive Corp.
4.95%, 6/15/2033
20,000
20,182
Prudential Financial, Inc.
Series MTN, 5.75%, 7/15/2033
20,000
21,203
 
272,440
INTERNET — 1.1%
Meta Platforms, Inc.:
4.60%, 11/15/2032
25,000
24,675
4.88%, 5/15/2033
75,000
74,820
 
99,495
IRON/STEEL — 1.4%
Vale Overseas Ltd.
6.13%, 6/12/2033
113,000
119,074
MACHINERY-DIVERSIFIED — 1.2%
Ingersoll Rand, Inc.
5.70%, 8/14/2033
101,000
104,842
MEDIA — 2.3%
Charter Communications
Operating LLC/Charter
Communications Operating
Capital
4.40%, 4/1/2033
135,000
124,806
Comcast Corp.
4.80%, 5/15/2033
70,000
69,546
Paramount Global
5.50%, 5/15/2033
5,000
4,476
 
198,828
MINING — 1.1%
Glencore Funding LLC
5.70%, 5/8/2033 (c)
90,000
93,244
MISCELLANEOUS MANUFACTURER — 1.6%
Eaton Corp.
4.15%, 3/15/2033 (a)
140,000
135,925
Security Description
 
Principal
Amount
Value
OIL & GAS — 3.5%
BP Capital Markets America, Inc.
4.89%, 9/11/2033
$138,000
$137,978
Diamondback Energy, Inc.
6.25%, 3/15/2033
65,000
69,765
Ovintiv, Inc.
6.25%, 7/15/2033
90,000
95,435
 
303,178
OIL & GAS SERVICES — 0.9%
Schlumberger Holdings Corp.
4.85%, 5/15/2033 (c)
76,000
75,804
PHARMACEUTICALS — 6.3%
AbbVie, Inc.
5.05%, 3/15/2034
85,000
86,181
Becton Dickinson & Co.
5.11%, 2/8/2034
68,000
68,270
CVS Health Corp.
5.30%, 6/1/2033
247,000
250,322
Merck & Co., Inc.
6.50%, 12/1/2033
76,000
84,250
Pfizer Investment Enterprises Pte.
Ltd.
4.75%, 5/19/2033
60,000
59,642
 
548,665
PIPELINES — 7.6%
Cheniere Energy Partners LP
5.95%, 6/30/2033
40,000
41,913
Enbridge, Inc.
5.70%, 3/8/2033
60,000
62,358
Energy Transfer LP:
5.75%, 2/15/2033
106,000
110,332
6.55%, 12/1/2033
222,000
241,232
Kinder Morgan, Inc.
5.20%, 6/1/2033
40,000
40,706
ONEOK, Inc.
6.05%, 9/1/2033
113,000
118,781
Targa Resources Corp.
6.13%, 3/15/2033
40,000
42,329
 
657,651
REAL ESTATE — 0.7%
CBRE Services, Inc.
4.90%, 1/15/2033 (a)
60,000
59,195
REAL ESTATE INVESTMENT TRUSTS — 2.6%
Alexandria Real Estate Equities, Inc.
1.88%, 2/1/2033
68,000
55,342
American Tower Corp.
5.55%, 7/15/2033
36,000
37,079
COPT Defense Properties LP
2.90%, 12/1/2033
80,000
68,093
Invitation Homes Operating
Partnership LP
5.50%, 8/15/2033
64,000
64,967
 
225,481
See accompanying notes to Schedule of Investments.
40

STATE STREET MY2033 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
RETAIL — 1.2%
AutoZone, Inc.
5.20%, 8/1/2033
$65,000
$65,578
Lowe's Cos., Inc.
5.15%, 7/1/2033
40,000
40,453
 
106,031
SEMICONDUCTORS — 8.0%
Broadcom, Inc.
3.42%, 4/15/2033
255,000
233,014
Intel Corp.
5.20%, 2/10/2033
190,000
192,498
Marvell Technology, Inc.
5.95%, 9/15/2033
251,000
264,873
 
690,385
SOFTWARE — 3.8%
Oracle Corp.:
4.90%, 2/6/2033
194,000
186,290
5.35%, 5/4/2033
90,000
88,569
Take-Two Interactive Software, Inc.
5.60%, 6/12/2034 (a)
50,000
51,200
 
326,059
TELECOMMUNICATIONS — 3.5%
AT&T, Inc.
5.40%, 2/15/2034
110,000
112,361
T-Mobile USA, Inc.
5.05%, 7/15/2033
130,000
130,901
Verizon Communications, Inc.
5.05%, 5/9/2033
60,000
60,721
 
303,983
TRANSPORTATION — 0.8%
United Parcel Service, Inc.
4.88%, 3/3/2033 (a)
65,000
65,959
TOTAL CORPORATE BONDS &
NOTES
(Cost $8,465,525)
8,417,710
Security Description
 
Shares
Value
SHORT-TERM INVESTMENTS — 6.3%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (d) (e)
113,232
$113,232
State Street Navigator Securities
Lending Portfolio II (f) (g)
428,755
428,755
TOTAL SHORT-TERM INVESTMENTS
(Cost $541,987)
541,987
TOTAL INVESTMENTS — 103.5%
(Cost $9,007,512)
8,959,697
LIABILITIES IN EXCESS OF OTHER ASSETS —
(3.5)%
(303,390)
NET ASSETS — 100.0%
$8,656,307
(a)
All or a portion of the shares of the security are on loan at
May 31, 2026.
(b)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(c)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 2.0% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(d)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(e)
The rate shown is the annualized seven-day yield at
May 31, 2026.
(f)
The Fund invested in an affiliated entity. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(g)
Investment of cash collateral for securities loaned.
Abbreviations:
 
MTN
Medium Term Note
SOFR
Secured Overnight Financing Rate
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$8,417,710
$
$8,417,710
Short-Term Investments
541,987
541,987
TOTAL INVESTMENTS
$541,987
$8,417,710
$
$8,959,697
See accompanying notes to Schedule of Investments.
41

STATE STREET MY2033 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier
Class
109,029
$109,029
$680,393
$676,190
$
$
113,232
$113,232
$3,299
State Street Navigator Securities Lending Portfolio II
48,528
48,528
3,777,460
3,397,233
428,755
428,755
406
Total
$157,557
$4,457,853
$4,073,423
$
$
$541,987
$3,705
See accompanying notes to Schedule of Investments.
42

STATE STREET MY2034 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 96.4%
AEROSPACE & DEFENSE — 2.0%
Boeing Co.
3.60%, 5/1/2034
$55,000
$49,641
L3Harris Technologies, Inc.
5.35%, 6/1/2034
65,000
66,168
RTX Corp.
6.10%, 3/15/2034
50,000
53,691
 
169,500
AGRICULTURE — 2.4%
Imperial Brands Finance PLC
5.88%, 7/1/2034 (a)
200,000
206,540
APPAREL — 0.3%
Tapestry, Inc.
5.50%, 3/11/2035
25,000
25,201
AUTO MANUFACTURERS — 3.4%
General Motors Financial Co., Inc.:
5.45%, 9/6/2034
50,000
50,300
5.95%, 4/4/2034
230,000
238,832
 
289,132
BANKS — 4.1%
Bank of America Corp.
SOFR + 1.65%, 5.47%,
1/23/2035 (b)
40,000
40,876
Citigroup, Inc.
SOFR + 2.06%, 5.83%,
2/13/2035 (b)
40,000
40,800
Goldman Sachs Group, Inc.
SOFR + 1.95%, 6.56%,
10/24/2034 (b)
50,000
54,292
JPMorgan Chase & Co.
SOFR + 1.62%, 5.34%,
1/23/2035 (b)
40,000
40,562
Morgan Stanley
SOFR + 1.73%, 5.47%,
1/18/2035 (b)
50,000
50,936
U.S. Bancorp
SOFR + 1.86%, 5.68%,
1/23/2035 (b)
75,000
77,474
Wells Fargo & Co.
SOFR + 1.78%, 5.50%,
1/23/2035 (b)
50,000
51,012
 
355,952
BEVERAGES — 4.4%
Anheuser-Busch InBev Worldwide,
Inc.
5.00%, 6/15/2034 (c)
120,000
121,243
Coca-Cola Consolidated, Inc.
5.45%, 6/1/2034
200,000
205,604
Keurig Dr. Pepper, Inc.
5.30%, 3/15/2034
50,000
50,008
 
376,855
Security Description
 
Principal
Amount
Value
BIOTECHNOLOGY — 0.2%
Royalty Pharma PLC
5.40%, 9/2/2034
$20,000
$20,240
CHEMICALS — 1.4%
Dow Chemical Co.
4.25%, 10/1/2034
80,000
73,391
Eastman Chemical Co.
5.63%, 2/20/2034
45,000
45,858
 
119,249
COMMERCIAL SERVICES — 1.2%
Verisk Analytics, Inc.
5.25%, 6/5/2034
100,000
99,946
CONSTRUCTION MATERIALS — 1.9%
Carrier Global Corp.
5.90%, 3/15/2034 (c)
120,000
126,528
Owens Corning
5.70%, 6/15/2034 (c)
35,000
36,247
 
162,775
DIVERSIFIED FINANCIAL SERVICES — 2.6%
AerCap Ireland Capital DAC/AerCap
Global Aviation Trust
4.95%, 9/10/2034
50,000
48,715
Capital One Financial Corp.
SOFR + 3.37%, 7.96%, 11/2/2034
(b)
40,000
46,082
Charles Schwab Corp.
SOFR + 2.50%, 5.85%,
5/19/2034 (b)
50,000
52,346
Jefferies Financial Group, Inc.
6.20%, 4/14/2034
70,000
72,278
 
219,421
ELECTRIC — 11.8%
AEP Texas, Inc.
5.70%, 5/15/2034
70,000
72,291
CenterPoint Energy Houston
Electric LLC
5.15%, 3/1/2034
55,000
55,639
Constellation Energy
Generation LLC
6.13%, 1/15/2034
70,000
74,490
DTE Electric Co.
5.20%, 3/1/2034
135,000
137,801
Duke Energy Carolinas LLC
4.85%, 1/15/2034
145,000
144,723
Georgia Power Co.
5.25%, 3/15/2034
70,000
71,287
National Grid PLC
5.42%, 1/11/2034
70,000
71,374
Pacific Gas & Electric Co.
5.80%, 5/15/2034
95,000
97,257
PacifiCorp
5.45%, 2/15/2034
70,000
70,890
Puget Sound Energy, Inc.
5.33%, 6/15/2034
23,000
23,430
See accompanying notes to Schedule of Investments.
43

STATE STREET MY2034 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Southern California Edison Co.
5.20%, 6/1/2034
$60,000
$59,355
Southern Co.
5.70%, 3/15/2034
130,000
134,926
 
1,013,463
ENVIRONMENTAL CONTROL — 0.9%
Republic Services, Inc.
5.20%, 11/15/2034
30,000
30,538
Waste Connections, Inc.
5.00%, 3/1/2034
50,000
50,109
 
80,647
FOOD — 2.8%
JBS NV/JBS USA Foods Group
Holdings, Inc./JBS USA Food Co.
Holdings
6.75%, 3/15/2034
5,000
5,444
Mars, Inc.
5.20%, 3/1/2035 (a)
100,000
100,648
Pilgrim's Pride Corp.
6.88%, 5/15/2034
30,000
32,436
Tyson Foods, Inc.
4.88%, 8/15/2034
100,000
98,180
 
236,708
HEALTH CARE PRODUCTS — 1.9%
Smith & Nephew PLC
5.40%, 3/20/2034
67,000
67,891
Solventum Corp.
5.60%, 3/23/2034 (c)
40,000
40,987
Thermo Fisher Scientific, Inc.
5.20%, 1/31/2034
55,000
56,264
 
165,142
HEALTH CARE SERVICES — 2.0%
HCA, Inc.:
5.45%, 9/15/2034
60,000
60,635
5.75%, 3/1/2035
30,000
30,878
UnitedHealth Group, Inc.
5.15%, 7/15/2034
80,000
80,943
 
172,456
INSURANCE — 5.1%
Arch Capital Group Ltd.
7.35%, 5/1/2034 (c)
60,000
68,165
Arthur J Gallagher & Co.
5.45%, 7/15/2034
100,000
101,482
Brown & Brown, Inc.
5.65%, 6/11/2034
70,000
70,845
Corebridge Financial, Inc.
5.75%, 1/15/2034 (c)
80,000
82,334
Lincoln National Corp.
5.85%, 3/15/2034
45,000
46,274
MetLife, Inc.
5.30%, 12/15/2034
70,000
71,663
 
440,763
Security Description
 
Principal
Amount
Value
INTERNET — 3.4%
Alphabet, Inc.
4.50%, 5/15/2035
$100,000
$98,008
Amazon.com, Inc.
4.80%, 12/5/2034 (c)
95,000
95,754
Expedia Group, Inc.
5.40%, 2/15/2035 (c)
25,000
24,860
Meta Platforms, Inc.
4.75%, 8/15/2034
75,000
73,794
 
292,416
IRON/STEEL — 0.7%
ArcelorMittal SA
6.00%, 6/17/2034
55,000
57,904
IT SERVICES — 2.0%
Hewlett Packard Enterprise Co.
5.00%, 10/15/2034
123,000
120,622
Leidos, Inc.
5.50%, 3/15/2035
50,000
50,829
 
171,451
LODGING — 1.6%
Las Vegas Sands Corp.
6.20%, 8/15/2034
135,000
139,387
MACHINERY-DIVERSIFIED — 0.7%
AGCO Corp.
5.80%, 3/21/2034
40,000
41,117
Ingersoll Rand, Inc.
5.45%, 6/15/2034
20,000
20,405
 
61,522
MEDIA — 1.3%
Charter Communications
Operating LLC/Charter
Communications Operating
Capital
6.55%, 6/1/2034
105,000
107,795
MINING — 0.9%
Glencore Funding LLC
5.63%, 4/4/2034 (a)
50,000
51,494
Rio Tinto Finance USA PLC
5.25%, 3/14/2035
25,000
25,457
 
76,951
OFFICE & BUSINESS EQUIPMENT — 0.5%
CDW LLC/CDW Finance Corp.
5.55%, 8/22/2034
40,000
39,565
OIL & GAS — 6.2%
BP Capital Markets America, Inc.
5.23%, 11/17/2034
206,000
209,724
Devon Energy Corp.
5.20%, 9/15/2034 (c)
104,000
104,688
Diamondback Energy, Inc.
5.40%, 4/18/2034
50,000
51,129
Occidental Petroleum Corp.
5.55%, 10/1/2034 (c)
55,000
56,723
See accompanying notes to Schedule of Investments.
44

STATE STREET MY2034 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Ovintiv, Inc.
6.50%, 8/15/2034
$65,000
$69,895
Suncor Energy, Inc.
5.95%, 12/1/2034
35,000
36,732
 
528,891
PACKAGING & CONTAINERS — 2.3%
Berry Global, Inc.
5.65%, 1/15/2034
105,000
107,298
Sonoco Products Co.
5.00%, 9/1/2034
95,000
93,229
 
200,527
PHARMACEUTICALS — 4.5%
AbbVie, Inc.
5.05%, 3/15/2034
142,000
143,974
Astrazeneca Finance LLC
5.00%, 2/26/2034
40,000
40,506
Becton Dickinson & Co.
5.11%, 2/8/2034
20,000
20,079
CVS Health Corp.
5.70%, 6/1/2034
25,000
25,830
Eli Lilly & Co.
4.60%, 8/14/2034
50,000
49,404
Novartis Capital Corp.
4.20%, 9/18/2034 (c)
115,000
110,797
 
390,590
PIPELINES — 5.6%
Cheniere Energy Partners LP
5.75%, 8/15/2034
95,000
98,425
Enbridge, Inc.
5.63%, 4/5/2034
95,000
98,288
Energy Transfer LP
5.60%, 9/1/2034
110,000
112,405
Kinder Morgan, Inc.
5.30%, 12/1/2034
40,000
40,493
ONEOK, Inc.
5.05%, 11/1/2034
50,000
49,169
Targa Resources Corp.
6.50%, 3/30/2034
50,000
54,229
Williams Cos., Inc.
5.15%, 3/15/2034
25,000
25,046
 
478,055
REAL ESTATE INVESTMENT TRUSTS — 4.9%
Alexandria Real Estate Equities, Inc.
2.95%, 3/15/2034
45,000
38,190
American Homes 4 Rent LP
5.50%, 7/15/2034
55,000
55,619
Brixmor Operating Partnership LP
5.50%, 2/15/2034 (c)
60,000
61,164
Extra Space Storage LP
5.40%, 2/1/2034
94,000
94,992
Invitation Homes Operating
Partnership LP
2.70%, 1/15/2034
68,000
57,018
Regency Centers LP
5.25%, 1/15/2034
65,000
65,883
Security Description
 
Principal
Amount
Value
Ventas Realty LP
5.63%, 7/1/2034
$50,000
$51,523
 
424,389
RETAIL — 1.2%
AutoNation, Inc.
5.89%, 3/15/2035 (c)
35,000
35,741
AutoZone, Inc.
5.40%, 7/15/2034
70,000
71,109
 
106,850
SEMICONDUCTORS — 2.9%
Broadcom, Inc.
3.47%, 4/15/2034
160,000
144,088
Intel Corp.
5.15%, 2/21/2034 (c)
25,000
25,101
KLA Corp.
5.65%, 11/1/2034
30,000
31,259
Marvell Technology, Inc.
5.95%, 9/15/2033
50,000
52,764
 
253,212
SOFTWARE — 3.2%
Oracle Corp.:
4.30%, 7/8/2034
80,000
72,255
4.70%, 9/27/2034
70,000
64,985
Paychex, Inc.
5.60%, 4/15/2035 (c)
30,000
30,269
Synopsys, Inc.
5.15%, 4/1/2035
40,000
39,923
Take-Two Interactive Software, Inc.
5.60%, 6/12/2034 (c)
70,000
71,680
 
279,112
TELECOMMUNICATIONS — 5.0%
AT&T, Inc.
5.40%, 2/15/2034
174,000
177,734
Cisco Systems, Inc.
5.05%, 2/26/2034
80,000
81,074
T-Mobile USA, Inc.
5.15%, 4/15/2034
120,000
120,964
Verizon Communications, Inc.
4.40%, 11/1/2034
50,000
47,628
 
427,400
TRANSPORTATION — 0.5%
United Parcel Service, Inc.
5.15%, 5/22/2034
45,000
46,000
WATER — 0.6%
American Water Capital Corp.
5.15%, 3/1/2034
50,000
50,837
TOTAL CORPORATE BONDS &
NOTES
(Cost $8,282,885)
8,286,844
See accompanying notes to Schedule of Investments.
45

STATE STREET MY2034 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Shares
Value
SHORT-TERM INVESTMENTS — 11.9%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (d) (e)
193,390
$193,390
State Street Navigator Securities
Lending Portfolio II (f) (g)
831,172
831,172
TOTAL SHORT-TERM INVESTMENTS
(Cost $1,024,562)
1,024,562
TOTAL INVESTMENTS — 108.3%
(Cost $9,307,447)
9,311,406
LIABILITIES IN EXCESS OF OTHER ASSETS —
(8.3)%
(712,594)
NET ASSETS — 100.0%
$8,598,812
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 4.2% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(c)
All or a portion of the shares of the security are on loan at
May 31, 2026.
(d)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(e)
The rate shown is the annualized seven-day yield at
May 31, 2026.
(f)
The Fund invested in an affiliated entity. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(g)
Investment of cash collateral for securities loaned.
Abbreviations:
 
SOFR
Secured Overnight Financing Rate
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$8,286,844
$
$8,286,844
Short-Term Investments
1,024,562
1,024,562
TOTAL INVESTMENTS
$1,024,562
$8,286,844
$
$9,311,406
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier
Class
39,240
$39,240
$396,291
$242,141
$
$
193,390
$193,390
$1,902
State Street Navigator Securities Lending Portfolio II
261,818
261,818
6,756,882
6,187,528
831,172
831,172
1,080
Total
$301,058
$7,153,173
$6,429,669
$
$
$1,024,562
$2,982
See accompanying notes to Schedule of Investments.
46

STATE STREET MY2035 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 97.4%
AEROSPACE & DEFENSE — 5.2%
Boeing Co.
3.30%, 3/1/2035
$75,000
$64,523
General Dynamics Corp.
4.95%, 8/15/2035
25,000
25,107
L3Harris Technologies, Inc.
4.85%, 4/27/2035
95,000
93,424
RTX Corp.
5.40%, 5/1/2035
130,000
134,308
 
317,362
AGRICULTURE — 3.5%
BAT Capital Corp.
5.63%, 8/15/2035
105,000
108,382
Philip Morris International, Inc.
4.88%, 4/30/2035
105,000
103,613
 
211,995
AUTO MANUFACTURERS — 1.7%
General Motors Co.
5.00%, 4/1/2035
80,000
77,854
Toyota Motor Corp.
5.05%, 6/30/2035
25,000
25,307
 
103,161
BANKS — 3.3%
Goldman Sachs Group, Inc.
SOFR + 1.38%, 5.54%,
1/28/2036 (a)
25,000
25,427
JPMorgan Chase & Co.
SOFR + 1.68%, 5.57%,
4/22/2036 (a)
50,000
51,439
M&T Bank Corp.
Series MTN, SOFR + 1.61%,
5.39%, 1/16/2036 (a)
50,000
49,940
Morgan Stanley
SOFR + 1.76%, 5.66%,
4/17/2036 (a)
25,000
25,747
Wells Fargo & Co.
SOFR + 1.74%, 5.61%,
4/23/2036 (a)
50,000
51,297
 
203,850
BEVERAGES — 2.8%
Anheuser-Busch InBev Worldwide,
Inc.
5.88%, 6/15/2035
115,000
122,912
Maple Parent Holdings Corp.
5.70%, 3/26/2036 (b)
45,000
45,423
 
168,335
BIOTECHNOLOGY — 1.5%
Gilead Sciences, Inc.
4.60%, 9/1/2035
95,000
92,696
Security Description
 
Principal
Amount
Value
COMMERCIAL SERVICES — 1.1%
Verisk Analytics, Inc.
5.25%, 3/15/2035
$70,000
$69,534
CONSTRUCTION MATERIALS — 0.8%
Carlisle Cos., Inc.
5.25%, 9/15/2035
50,000
50,048
DIVERSIFIED FINANCIAL SERVICES — 1.3%
Charles Schwab Corp.
SOFR + 2.01%, 6.14%,
8/24/2034 (a)
75,000
79,775
ELECTRIC — 14.0%
AEP Transmission Co. LLC
5.38%, 6/15/2035
126,000
128,202
Ameren Corp.
5.38%, 3/15/2035
45,000
45,558
CenterPoint Energy Houston
Electric LLC
Series AQ, 4.95%, 8/15/2035
55,000
54,444
Duke Energy Corp.
4.95%, 9/15/2035
70,000
68,697
Exelon Corp.
4.95%, 6/15/2035
126,000
122,728
FirstEnergy Transmission LLC
5.00%, 1/15/2035
126,000
124,579
Georgia Power Co.
5.20%, 3/15/2035
126,000
127,595
NRG Energy, Inc.
5.41%, 10/15/2035 (b)
30,000
29,455
Pacific Gas & Electric Co.
6.00%, 8/15/2035
130,000
133,968
PacifiCorp
5.25%, 6/15/2035
25,000
24,796
 
860,022
ELECTRICAL COMPONENTS & EQUIPMENT — 0.8%
Emerson Electric Co.
5.00%, 3/15/2035
50,000
50,276
FOOD — 3.6%
J.M. Smucker Co.
4.25%, 3/15/2035
100,000
93,236
JBS NV/JBS USA Foods Group
Holdings, Inc./JBS USA Food Co.
Holdings
5.95%, 4/20/2035
126,000
129,934
 
223,170
GAS — 0.9%
Southern California Gas Co.
5.45%, 6/15/2035
55,000
56,352
HEALTH CARE PRODUCTS — 1.2%
Baxter International, Inc.
5.65%, 12/15/2035
25,000
24,746
Medtronic, Inc.
4.38%, 3/15/2035
25,000
24,089
See accompanying notes to Schedule of Investments.
47

STATE STREET MY2035 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Stryker Corp.
5.20%, 2/10/2035
$25,000
$25,310
 
74,145
HEALTH CARE SERVICES — 2.9%
HCA, Inc.
5.75%, 3/1/2035
80,000
82,343
UnitedHealth Group, Inc.
5.30%, 6/15/2035
95,000
96,668
 
179,011
HOME BUILDERS — 2.0%
PulteGroup, Inc.
6.00%, 2/15/2035
50,000
52,241
Toll Brothers Finance Corp.
5.60%, 6/15/2035
70,000
71,487
 
123,728
INSURANCE — 2.5%
American International Group, Inc.
5.45%, 5/7/2035
50,000
51,120
Arthur J Gallagher & Co.
5.15%, 2/15/2035
50,000
49,632
Marsh & McLennan Cos., Inc.
5.00%, 3/15/2035
50,000
49,605
 
150,357
INTERNET — 3.5%
Alphabet, Inc.
4.50%, 5/15/2035
25,000
24,502
Expedia Group, Inc.
5.40%, 2/15/2035
45,000
44,748
Meta Platforms, Inc.:
4.75%, 8/15/2034
65,000
63,955
5.25%, 5/15/2036
40,000
39,962
Uber Technologies, Inc.
4.80%, 9/15/2035
45,000
43,809
 
216,976
IRON/STEEL — 0.4%
Nucor Corp.
5.10%, 6/1/2035
25,000
25,241
IT SERVICES — 4.8%
Apple, Inc.
4.75%, 5/12/2035
20,000
20,205
International Business Machines
Corp.
5.20%, 2/10/2035
126,000
127,101
Leidos, Inc.
5.50%, 3/15/2035
75,000
76,243
NetApp, Inc.
5.70%, 3/17/2035
70,000
71,672
 
295,221
LEISURE TIME — 0.4%
Royal Caribbean Cruises Ltd.
5.38%, 1/15/2036
25,000
24,856
Security Description
 
Principal
Amount
Value
MEDIA — 2.9%
Charter Communications
Operating LLC/Charter
Communications Operating
Capital
6.38%, 10/23/2035
$135,000
$135,841
Comcast Corp.
6.50%, 11/15/2035
25,000
27,328
Walt Disney Co.
6.40%, 12/15/2035
15,000
16,634
 
179,803
MINING — 1.3%
Glencore Funding LLC
5.67%, 4/1/2035 (b)
75,000
77,069
OIL & GAS — 4.0%
BP Capital Markets America, Inc.
5.23%, 11/17/2034
75,000
76,356
Coterra Energy, Inc.
5.40%, 2/15/2035
65,000
65,807
Diamondback Energy, Inc.
5.55%, 4/1/2035
45,000
46,389
Ovintiv, Inc.
6.50%, 8/15/2034
45,000
48,389
Patterson-UTI Energy, Inc.
6.05%, 5/15/2036
5,000
5,021
 
241,962
PACKAGING & CONTAINERS — 0.4%
Packaging Corp. of America
5.20%, 8/15/2035
25,000
24,971
PHARMACEUTICALS — 5.8%
AbbVie, Inc.
4.50%, 5/14/2035
140,000
135,188
CVS Health Corp.
4.88%, 7/20/2035
70,000
67,840
Eli Lilly & Co.
5.10%, 2/12/2035
95,000
96,866
Merck & Co., Inc.
4.95%, 9/15/2035
55,000
54,942
 
354,836
PIPELINES — 5.0%
Energy Transfer LP
5.70%, 4/1/2035
80,000
82,278
Enterprise Products Operating LLC
Series J, 5.75%, 3/1/2035
70,000
72,407
MPLX LP
5.40%, 9/15/2035
50,000
50,034
Targa Resources Corp.
5.55%, 8/15/2035
50,000
50,737
Williams Cos., Inc.
5.30%, 9/30/2035
50,000
50,072
 
305,528
REAL ESTATE INVESTMENT TRUSTS — 2.9%
Alexandria Real Estate Equities, Inc.
5.50%, 10/1/2035
25,000
24,962
See accompanying notes to Schedule of Investments.
48

STATE STREET MY2035 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
AvalonBay Communities, Inc.
5.00%, 8/1/2035
$25,000
$24,901
Mid-America Apartments LP
4.95%, 3/1/2035
25,000
24,675
Prologis LP
5.25%, 5/15/2035
45,000
45,602
Public Storage Operating Co.
5.00%, 12/15/2035
15,000
14,859
Regency Centers LP
5.10%, 1/15/2035
45,000
45,036
 
180,035
RETAIL — 2.0%
AutoNation, Inc.
5.89%, 3/15/2035
70,000
71,483
O'Reilly Automotive, Inc.
5.00%, 8/19/2034
50,000
49,531
 
121,014
SEMICONDUCTORS — 4.2%
Broadcom, Inc.
5.20%, 7/15/2035
105,000
105,526
Intel Corp.
5.30%, 5/15/2036
80,000
79,905
Marvell Technology, Inc.
5.45%, 7/15/2035
70,000
71,550
 
256,981
SHIPBUILDING — 1.8%
Huntington Ingalls Industries, Inc.
5.75%, 1/15/2035
105,000
108,752
SOFTWARE — 4.4%
MSCI, Inc.
5.25%, 9/1/2035
70,000
68,904
Oracle Corp.:
5.50%, 8/3/2035
80,000
77,585
5.70%, 2/4/2036
55,000
54,041
Synopsys, Inc.
5.15%, 4/1/2035
70,000
69,866
 
270,396
TELECOMMUNICATIONS — 3.3%
AT&T, Inc.
5.38%, 8/15/2035
126,000
127,559
T-Mobile USA, Inc.
5.30%, 5/15/2035
75,000
75,921
 
203,480
Security Description
 
Principal
Amount
Value
TRANSPORTATION — 1.2%
Canadian Pacific Railway Co.
4.80%, 9/15/2035
$25,000
$24,697
United Parcel Service, Inc.
5.25%, 5/14/2035
50,000
51,079
 
75,776
TOTAL CORPORATE BONDS &
NOTES
(Cost $6,112,377)
5,976,714
 
 
Shares
 
SHORT-TERM INVESTMENT — 1.3%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (c) (d)
(Cost $82,751)
82,751
82,751
TOTAL INVESTMENTS — 98.7%
(Cost $6,195,128)
6,059,465
OTHER ASSETS IN EXCESS OF LIABILITIES —
1.3%
77,560
NET ASSETS — 100.0%
$6,137,025
(a)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(b)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 2.5% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(c)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(d)
The rate shown is the annualized seven-day yield at
May 31, 2026.
Abbreviations:
 
MTN
Medium Term Note
SOFR
Secured Overnight Financing Rate
See accompanying notes to Schedule of Investments.
49

STATE STREET MY2035 CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$5,976,714
$
$5,976,714
Short-Term Investment
82,751
82,751
TOTAL INVESTMENTS
$82,751
$5,976,714
$
$6,059,465
Affiliate Table
 
Number of
Shares Held
at
9/17/25*
Value at
9/17/25*
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier Class
$
$452,800
$370,049
$
$
82,751
$82,751
$1,791
*
Commencement of operations.
See accompanying notes to Schedule of Investments.
50

STATE STREET MY2027 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 96.9%
ADVERTISING — 1.2%
Outfront Media Capital LLC/Outfront
Media Capital Corp.
5.00%, 8/15/2027 (a)
$60,000
$59,961
AEROSPACE & DEFENSE — 0.8%
ATI, Inc.
5.88%, 12/1/2027
40,000
40,050
AGRICULTURE — 1.0%
Darling Ingredients, Inc.
5.25%, 4/15/2027 (a)
50,000
50,004
AIRLINES — 0.9%
Allegiant Travel Co.
7.25%, 8/15/2027 (a)
45,000
45,091
APPAREL — 1.4%
VF Corp.
2.80%, 4/23/2027
70,000
68,535
AUTO MANUFACTURERS — 6.7%
Allison Transmission, Inc.
4.75%, 10/1/2027 (a)
45,000
44,975
Ford Motor Credit Co. LLC
6.80%, 5/12/2028
30,000
30,927
Jaguar Land Rover Automotive PLC
4.50%, 10/1/2027 (a)
50,000
49,367
Nissan Motor Acceptance Co. LLC
1.85%, 9/16/2026 (a)
41,000
40,551
Nissan Motor Co. Ltd.
4.35%, 9/17/2027 (a)
175,000
172,503
 
338,323
CHEMICALS — 3.0%
Axalta Coating Systems LLC/Axalta
Coating Systems Dutch Holding B
BV
4.75%, 6/15/2027 (a)
50,000
49,833
Celanese U.S. Holdings LLC
7.17%, 7/15/2027
35,000
35,854
Methanex Corp.
5.13%, 10/15/2027
65,000
65,040
 
150,727
COMMERCIAL SERVICES — 5.0%
Brink's Co.
4.63%, 10/15/2027 (a)
60,000
59,710
Korn Ferry
4.63%, 12/15/2027 (a)
45,000
44,688
Prime Security Services
Borrower LLC/Prime Finance, Inc.
3.38%, 8/31/2027 (a)
100,000
98,046
Service Corp. International
4.63%, 12/15/2027
20,000
19,930
United Rentals North America, Inc.
3.88%, 11/15/2027
30,000
29,694
 
252,068
Security Description
 
Principal
Amount
Value
COMPUTERS — 0.4%
Ahead DB Holdings LLC
6.63%, 5/1/2028 (a)
$20,000
$20,023
CONSTRUCTION MATERIALS — 0.6%
Griffon Corp.
5.75%, 3/1/2028
25,000
24,999
James Hardie International Finance
DAC
5.00%, 1/15/2028 (a)
5,000
4,972
 
29,971
DISTRIBUTION & WHOLESALE — 0.4%
RB Global Holdings, Inc.
6.75%, 3/15/2028 (a)
20,000
20,300
DIVERSIFIED FINANCIAL SERVICES — 5.2%
GGAM Finance Ltd.
8.00%, 2/15/2027 (a)
38,000
38,281
Global Aircraft Leasing Co. Ltd.
8.75%, 9/1/2027 (a)
90,000
92,060
LD Holdings Group LLC:
6.13%, 4/1/2028 (a)
35,000
30,433
8.75%, 11/1/2027 (a)
20,000
18,954
Navient Corp.
5.00%, 3/15/2027
80,000
79,632
 
259,360
ELECTRIC — 2.1%
NRG Energy, Inc.
4.96%, 4/30/2031 (a)
25,000
24,744
Pattern Energy
Operations LP/Pattern Energy
Operations, Inc.
4.50%, 8/15/2028 (a)
27,000
26,595
XPLR Infrastructure Operating
Partners LP
4.50%, 9/15/2027 (a)
55,000
54,636
 
105,975
ELECTRICAL COMPONENTS & EQUIPMENT — 1.0%
EnerSys
4.38%, 12/15/2027 (a)
50,000
49,648
ENTERTAINMENT — 5.0%
Churchill Downs, Inc.
5.50%, 4/1/2027 (a)
40,000
40,025
Live Nation Entertainment, Inc.
4.75%, 10/15/2027 (a)
170,000
169,431
Motion Bondco DAC
6.63%, 11/15/2027 (a)
45,000
43,161
 
252,617
ENVIRONMENTAL CONTROL — 1.0%
Enviri Corp.
5.75%, 7/31/2027 (a)
50,000
50,000
FOOD — 1.1%
B&G Foods, Inc.
5.25%, 9/15/2027
55,000
53,556
See accompanying notes to Schedule of Investments.
51

STATE STREET MY2027 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
GAS — 0.1%
AmeriGas Partners LP/AmeriGas
Finance Corp.
9.38%, 6/1/2028 (a)
$7,000
$7,175
HEALTH CARE PRODUCTS — 1.0%
Teleflex, Inc.
4.63%, 11/15/2027
50,000
49,729
HEALTH CARE SERVICES — 4.3%
Centene Corp.
2.45%, 7/15/2028
125,000
118,590
IQVIA, Inc.
5.00%, 5/15/2027 (a)
60,000
59,980
Tenet Healthcare Corp.
5.13%, 11/1/2027
40,000
40,036
 
218,606
HOME BUILDERS — 3.4%
Beazer Homes USA, Inc.
5.88%, 10/15/2027
45,000
45,009
Brookfield Residential Properties,
Inc./Brookfield Residential U.S.
LLC
6.25%, 9/15/2027 (a)
40,000
40,031
Shea Homes LP/Shea Homes
Funding Corp.
4.75%, 2/15/2028
30,000
29,753
Tri Pointe Homes, Inc.:
5.25%, 6/1/2027
25,000
24,984
5.70%, 6/15/2028
30,000
30,213
 
169,990
HOUSEHOLD PRODUCTS — 0.4%
Edgewell Personal Care Co.
5.50%, 6/1/2028 (a)
20,000
19,925
HOUSEWARES — 0.4%
Central Garden & Pet Co.
5.13%, 2/1/2028
20,000
19,961
INTERNET — 8.6%
Cogent Communications
Group LLC/Cogent Finance, Inc.
7.00%, 6/15/2027 (a)
50,000
49,896
Gen Digital, Inc.
6.75%, 9/30/2027 (a)
95,000
95,511
Go Daddy Operating Co. LLC/GD
Finance Co., Inc.
5.25%, 12/1/2027 (a)
60,000
59,985
ION Platform Finance U.S., Inc./ION
Platform Finance SARL
5.75%, 5/15/2028 (a)
20,000
18,973
Match Group Holdings II LLC
5.00%, 12/15/2027 (a)
50,000
49,867
Rakuten Group, Inc.
11.25%, 2/15/2027 (a)
150,000
155,893
 
430,125
Security Description
 
Principal
Amount
Value
INVESTMENT COMPANY SECURITIES — 2.2%
Icahn Enterprises LP/Icahn
Enterprises Finance Corp.
5.25%, 5/15/2027
$110,000
$108,869
IT SERVICES — 0.5%
Everforth, Inc.
4.63%, 5/15/2028 (a)
20,000
18,506
Pitney Bowes, Inc.
6.88%, 3/15/2027 (a)
5,000
4,999
 
23,505
LEISURE TIME — 0.9%
Carnival Corp. Ltd.
4.00%, 8/1/2028 (a)
25,000
24,525
VOC Escrow Ltd.
5.00%, 2/15/2028 (a)
20,000
19,976
 
44,501
LODGING — 6.6%
Boyd Gaming Corp.
4.75%, 12/1/2027
25,000
24,936
Hilton Worldwide
Finance LLC/Hilton Worldwide
Finance Corp.
4.88%, 4/1/2027
60,000
59,990
Marriott Ownership Resorts, Inc.
4.75%, 1/15/2028
25,000
24,920
MGM Resorts International
5.50%, 4/15/2027
75,000
75,175
Travel & Leisure Co.
6.00%, 4/1/2027
45,000
45,120
Wynn Las Vegas LLC/Wynn Las
Vegas Capital Corp.
5.25%, 5/15/2027 (a)
100,000
100,138
 
330,279
MACHINERY-DIVERSIFIED — 1.0%
TK Elevator U.S. Newco, Inc.
5.25%, 7/15/2027 (a)
50,000
50,025
MEDIA — 7.0%
Directv Financing LLC/Directv
Financing Co-Obligor, Inc.
5.88%, 8/15/2027 (a)
8,000
8,015
DISH Network Corp.
11.75%, 11/15/2027 (a)
200,000
206,216
LCPR Senior Secured Financing
DAC
6.75%, 10/15/2027 (a)
75,000
48,577
Sirius XM Radio LLC
5.00%, 8/1/2027 (a)
88,000
87,883
 
350,691
MINING — 1.2%
Fortescue Treasury Pty. Ltd.
4.50%, 9/15/2027 (a)
60,000
59,708
OIL & GAS — 2.8%
SM Energy Co.
6.63%, 1/15/2027
50,000
50,058
See accompanying notes to Schedule of Investments.
52

STATE STREET MY2027 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Sunoco LP
5.88%, 7/15/2027 (a)
$90,000
$90,049
 
140,107
OIL & GAS SERVICES — 0.4%
Oceaneering International, Inc.
6.00%, 2/1/2028
20,000
20,170
PACKAGING & CONTAINERS — 0.5%
Cascades, Inc./Cascades USA, Inc.
5.38%, 1/15/2028 (a)
25,000
24,909
PHARMACEUTICALS — 0.5%
Grifols SA
4.75%, 10/15/2028 (a)
25,000
24,615
PIPELINES — 2.4%
Antero Midstream
Partners LP/Antero Midstream
Finance Corp.
5.75%, 1/15/2028 (a)
20,000
19,996
Buckeye Partners LP
4.13%, 12/1/2027
45,000
44,374
NuStar Logistics LP
5.63%, 4/28/2027
55,000
55,186
 
119,556
REAL ESTATE INVESTMENT TRUSTS — 8.2%
Brandywine Operating
Partnership LP
3.95%, 11/15/2027
50,000
48,807
Brookfield Property REIT, Inc./BPR
Cumulus LLC/BPR
Nimbus LLC/GGSI Sellco LLC
4.50%, 4/1/2027 (a)
50,000
49,350
Global Net Lease, Inc./Global Net
Lease Operating Partnership LP
3.75%, 12/15/2027 (a)
30,000
29,350
Hudson Pacific Properties LP
3.95%, 11/1/2027
45,000
43,735
Iron Mountain, Inc.
4.88%, 9/15/2027 (a)
85,000
84,838
MPT Operating Partnership LP/MPT
Finance Corp.
5.00%, 10/15/2027
90,000
87,880
SBA Communications Corp.
3.88%, 2/15/2027
17,000
16,870
Starwood Property Trust, Inc.
4.38%, 1/15/2027 (a)
50,000
49,839
 
410,669
RETAIL — 4.2%
Bath & Body Works, Inc.
5.25%, 2/1/2028
20,000
20,060
EG Global Finance PLC
12.00%, 11/30/2028 (a)
20,000
21,329
Security Description
 
Principal
Amount
Value
KFC Holding Co./Pizza Hut
Holdings LLC/Taco Bell of
America LLC
4.75%, 6/1/2027 (a)
$85,000
$84,832
Nordstrom, Inc.
4.00%, 3/15/2027
40,000
39,484
Vivo Energy Investments BV
5.13%, 9/24/2027 (a)
45,000
44,472
 
210,177
SOFTWARE — 1.5%
SS&C Technologies, Inc.
5.50%, 9/30/2027 (a)
75,000
75,004
TELECOMMUNICATIONS — 2.0%
Altice Financing SA
9.63%, 7/15/2027 (a)
45,000
34,779
GoTo Group, Inc.
5.50%, 5/1/2028 (a)
5,000
3,931
Viasat, Inc.
5.63%, 4/15/2027 (a)
60,000
59,963
 
98,673
TOTAL CORPORATE BONDS &
NOTES
(Cost $4,867,053)
4,853,178
 
 
Shares
 
SHORT-TERM INVESTMENT — 1.9%
State Street Institutional
U.S. Government Money Market
Fund, Class G Shares 3.60% (b)
(c)
(Cost $93,334)
93,334
93,334
TOTAL INVESTMENTS — 98.8%
(Cost $4,960,387)
4,946,512
OTHER ASSETS IN EXCESS OF LIABILITIES —
1.2%
62,609
NET ASSETS — 100.0%
$5,009,121
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 65.5% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(c)
The rate shown is the annualized seven-day yield at
May 31, 2026.
Abbreviations:
 
REIT
Real Estate Investment Trust
See accompanying notes to Schedule of Investments.
53

STATE STREET MY2027 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$4,853,178
$
$4,853,178
Short-Term Investment
93,334
93,334
TOTAL INVESTMENTS
$93,334
$4,853,178
$
$4,946,512
Affiliate Table
 
Number of
Shares Held
at
2/26/26*
Value at
2/26/26*
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional U.S. Government Money Market Fund, Class G
Shares
$
$729,816
$636,482
$
$
93,334
$93,334
$366
State Street Institutional U.S. Government Money Market Fund, Premier
Class
80,631
80,631
12
Total
$
$810,447
$717,113
$
$
$93,334
$378
*
Commencement of operations.
See accompanying notes to Schedule of Investments.
54

STATE STREET MY2028 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 97.7%
ADVERTISING — 0.8%
Lamar Media Corp.
3.75%, 2/15/2028
$40,000
$39,209
AEROSPACE & DEFENSE — 2.3%
AAR Escrow Issuer LLC
6.75%, 3/15/2029 (a)
20,000
20,535
ATI, Inc.
5.88%, 12/1/2027
20,000
20,025
TransDigm, Inc.
6.38%, 3/1/2029 (a)
75,000
76,490
 
117,050
AIRLINES — 1.7%
American Airlines, Inc.
7.25%, 2/15/2028 (a)
50,000
50,717
VistaJet Malta Finance PLC/Vista
Management Holding, Inc.
9.50%, 6/1/2028 (a)
35,000
34,975
 
85,692
APPAREL — 0.4%
Crocs, Inc.
4.25%, 3/15/2029 (a)
20,000
19,374
AUTO MANUFACTURERS — 2.3%
Jaguar Land Rover Automotive PLC
5.88%, 1/15/2028 (a)
35,000
34,969
Nissan Motor Acceptance Co. LLC
7.05%, 9/15/2028 (a)
50,000
51,323
PM General Purchaser LLC
9.50%, 10/1/2028 (a)
35,000
31,201
 
117,493
AUTO PARTS & EQUIPMENT — 1.6%
Tenneco, Inc.
8.00%, 11/17/2028 (a)
40,000
40,223
ZF North America Capital, Inc.
6.88%, 4/14/2028 (a)
40,000
40,956
 
81,179
CHEMICALS — 5.5%
Consolidated Energy Finance SA
5.63%, 10/15/2028 (a)
15,000
14,583
CVR Partners LP/CVR Nitrogen
Finance Corp.
6.13%, 6/15/2028 (a)
35,000
35,008
Element Solutions, Inc.
3.88%, 9/1/2028 (a)
45,000
43,870
HB Fuller Co.
4.25%, 10/15/2028
30,000
29,599
INEOS Quattro Finance 2 PLC
9.63%, 3/15/2029 (a)
10,000
9,643
Ingevity Corp.
3.88%, 11/1/2028 (a)
40,000
38,616
Minerals Technologies, Inc.
5.00%, 7/1/2028 (a)
35,000
34,840
Security Description
 
Principal
Amount
Value
Olympus Water U.S. Holding Corp.
4.25%, 10/1/2028 (a)
$73,000
$71,088
 
277,247
COMMERCIAL SERVICES — 2.8%
Alta Equipment Group, Inc.
9.00%, 6/1/2029 (a)
15,000
14,410
CoreCivic, Inc.
8.25%, 4/15/2029
20,000
20,826
Deluxe Corp.
8.00%, 6/1/2029 (a)
20,000
20,266
GEO Group, Inc.
8.63%, 4/15/2029
20,000
20,856
Korn Ferry
4.63%, 12/15/2027 (a)
25,000
24,827
United Rentals North America, Inc.
4.88%, 1/15/2028
40,000
40,033
 
141,218
COMPUTERS — 1.0%
Ahead DB Holdings LLC
6.63%, 5/1/2028 (a)
35,000
35,041
Virtusa Corp.
7.13%, 12/15/2028 (a)
15,000
12,624
 
47,665
CONSTRUCTION MATERIALS — 2.6%
Griffon Corp.
5.75%, 3/1/2028
65,000
64,996
James Hardie International Finance
DAC
5.00%, 1/15/2028 (a)
30,000
29,833
Smyrna Ready Mix Concrete LLC
6.00%, 11/1/2028 (a)
35,000
35,099
 
129,928
DISTRIBUTION & WHOLESALE — 0.3%
Dealer Tire LLC/DT Issuer LLC
8.00%, 2/1/2028 (a)
15,000
14,833
DIVERSIFIED FINANCIAL SERVICES — 4.6%
Burford Capital Global Finance LLC
6.25%, 4/15/2028 (a)
15,000
14,713
Coinbase Global, Inc.
3.38%, 10/1/2028 (a)
25,000
23,988
Credit Acceptance Corp.
9.25%, 12/15/2028 (a)
50,000
52,248
Enova International, Inc.
11.25%, 12/15/2028 (a)
30,000
31,680
Jefferies Finance LLC/JFIN
Co-Issuer Corp.
5.00%, 8/15/2028 (a)
50,000
48,355
LD Holdings Group LLC
6.13%, 4/1/2028 (a)
35,000
30,433
Navient Corp.
4.88%, 3/15/2028
30,000
29,385
 
230,802
See accompanying notes to Schedule of Investments.
55

STATE STREET MY2028 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
ELECTRIC — 2.1%
Atlantica Sustainable Infrastructure
Ltd.
4.13%, 6/15/2028 (a)
$25,000
$24,480
NRG Energy, Inc.
4.96%, 4/30/2031 (a)
20,000
19,795
Pattern Energy
Operations LP/Pattern Energy
Operations, Inc.
4.50%, 8/15/2028 (a)
40,000
39,400
XPLR Infrastructure Operating
Partners LP
7.25%, 1/15/2029 (a)
20,000
20,834
 
104,509
ELECTRICAL COMPONENTS & EQUIPMENT — 1.2%
WESCO Distribution, Inc.
7.25%, 6/15/2028 (a)
60,000
60,100
ENERGY-ALTERNATE SOURCES — 0.7%
TerraForm Power Operating LLC
5.00%, 1/31/2028 (a)
35,000
34,799
ENGINEERING & CONSTRUCTION — 2.7%
Dycom Industries, Inc.
4.50%, 4/15/2029 (a)
20,000
19,643
Fluor Corp.
4.25%, 9/15/2028
35,000
34,363
Global Infrastructure Solutions, Inc.
5.63%, 6/1/2029 (a)
20,000
19,966
Railworks Holdings LP/Railworks
Rally, Inc.
8.25%, 11/15/2028 (a)
25,000
25,085
Weekley Homes LLC/Weekley
Finance Corp.
4.88%, 9/15/2028 (a)
35,000
34,137
 
133,194
ENTERTAINMENT — 1.8%
Cinemark USA, Inc.
5.25%, 7/15/2028 (a)
55,000
54,760
Live Nation Entertainment, Inc.
3.75%, 1/15/2028 (a)
35,000
34,310
 
89,070
ENVIRONMENTAL CONTROL — 0.3%
Luna 1.5 SARL
12.00%, 7/1/2032 (a)
15,000
16,030
FOOD — 3.4%
B&G Foods, Inc.
8.00%, 9/15/2028 (a)
45,000
44,549
C&S Group Enterprises LLC
5.00%, 12/15/2028 (a)
35,000
32,970
Chobani LLC/Chobani Finance
Corp., Inc.
4.63%, 11/15/2028 (a)
35,000
34,666
U.S. Foods, Inc.
6.88%, 9/15/2028 (a)
25,000
25,624
Security Description
 
Principal
Amount
Value
United Natural Foods, Inc.
6.75%, 10/15/2028 (a)
$30,000
$30,091
 
167,900
FOREST PRODUCTS & PAPER — 0.4%
Domtar Corp.
6.75%, 10/1/2028 (a)
30,000
22,373
GAS — 0.2%
AmeriGas Partners LP/AmeriGas
Finance Corp.
9.38%, 6/1/2028 (a)
8,000
8,200
HEALTH CARE PRODUCTS — 2.0%
Bausch & Lomb Corp.
8.38%, 10/1/2028 (a)
65,000
67,279
Teleflex, Inc.
4.25%, 6/1/2028 (a)
35,000
34,534
 
101,813
HEALTH CARE SERVICES — 4.7%
Centene Corp.
2.45%, 7/15/2028
105,000
99,615
Charles River Laboratories
International, Inc.
4.25%, 5/1/2028 (a)
35,000
34,337
Team Health Holdings, Inc.
13.50%, 6/30/2028 (a)
61,350
62,851
Tenet Healthcare Corp.
6.13%, 10/1/2028
40,000
40,053
 
236,856
HOME BUILDERS — 1.2%
M/I Homes, Inc.
4.95%, 2/1/2028
30,000
29,983
Shea Homes LP/Shea Homes
Funding Corp.
4.75%, 2/15/2028
30,000
29,752
 
59,735
HOUSEHOLD PRODUCTS — 0.9%
Edgewell Personal Care Co.
5.50%, 6/1/2028 (a)
45,000
44,832
HOUSEHOLD PRODUCTS & WARES — 0.3%
ACCO Brands Corp.
4.25%, 3/15/2029 (a)
15,000
13,800
HOUSEWARES — 0.5%
Central Garden & Pet Co.
5.13%, 2/1/2028
25,000
24,952
INSURANCE — 1.2%
Alliant Holdings
Intermediate LLC/Alliant Holdings
Co-Issuer
6.75%, 4/15/2028 (a)
60,000
60,537
INTERNET — 3.5%
Angi Group LLC
3.88%, 8/15/2028 (a)
25,000
22,126
See accompanying notes to Schedule of Investments.
56

STATE STREET MY2028 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Arches Buyer, Inc.
6.13%, 12/1/2028 (a)
$55,000
$53,285
Cars.com, Inc.
6.38%, 11/1/2028 (a)
15,000
14,708
ION Platform Finance U.S., Inc./ION
Platform Finance SARL
5.75%, 5/15/2028 (a)
55,000
52,175
Match Group Holdings II LLC
4.63%, 6/1/2028 (a)
35,000
34,515
 
176,809
INVESTMENT COMPANY SECURITIES — 0.4%
FS KKR Capital Corp.
3.13%, 10/12/2028
20,000
18,851
IRON/STEEL — 1.4%
Infrabuild Australia Pty. Ltd.
14.50%, 11/15/2028 (a)
40,000
42,789
Mineral Resources Ltd.
9.25%, 10/1/2028 (a)
24,000
24,928
 
67,717
IT SERVICES — 0.7%
Everforth, Inc.
4.63%, 5/15/2028 (a)
40,000
37,013
LEISURE TIME — 0.5%
Carnival Corp. Ltd.
4.00%, 8/1/2028 (a)
25,000
24,525
LODGING — 2.2%
Full House Resorts, Inc.
8.25%, 2/15/2028 (a)
20,000
19,566
Marriott Ownership Resorts, Inc.
4.75%, 1/15/2028
25,000
24,920
MGM Resorts International
4.75%, 10/15/2028
25,000
24,785
Wyndham Hotels & Resorts, Inc.
4.38%, 8/15/2028 (a)
40,000
39,440
 
108,711
MACHINERY, CONSTRUCTION & MINING — 0.7%
BWX Technologies, Inc.
4.13%, 6/30/2028 (a)
36,000
35,351
MEDIA — 5.9%
Discovery Communications LLC
3.95%, 3/20/2028
60,000
60,052
DISH DBS Corp.
5.75%, 12/1/2028 (a)
130,000
127,419
Paramount Global
4.95%, 1/15/2031
15,000
13,984
Sirius XM Radio LLC
4.00%, 7/15/2028 (a)
75,000
73,046
Virgin Media Secured Finance PLC
5.50%, 5/15/2029 (a)
20,000
19,241
 
293,742
MISCELLANEOUS MANUFACTURER — 2.5%
Calderys Financing LLC
11.25%, 6/1/2028 (a)
45,000
46,604
Security Description
 
Principal
Amount
Value
LSB Industries, Inc.
6.25%, 10/15/2028 (a)
$40,000
$40,032
Trinity Industries, Inc.
7.75%, 7/15/2028 (a)
40,000
40,968
 
127,604
OIL & GAS — 1.4%
PBF Holding Co. LLC/PBF Finance
Corp.
6.00%, 2/15/2028
20,000
20,023
Sunoco LP/Sunoco Finance Corp.
5.88%, 3/15/2028
50,000
50,081
 
70,104
OIL & GAS SERVICES — 0.6%
Oceaneering International, Inc.
6.00%, 2/1/2028
30,000
30,255
PACKAGING & CONTAINERS — 2.1%
Cascades, Inc./Cascades USA, Inc.
5.38%, 1/15/2028 (a)
35,000
34,872
Clearwater Paper Corp.
4.75%, 8/15/2028 (a)
20,000
16,210
Iris Holding, Inc.
10.00%, 12/15/2028 (a)
25,000
20,696
Trident TPI Holdings, Inc.
12.75%, 12/31/2028 (a)
35,000
35,273
 
107,051
PHARMACEUTICALS — 3.7%
Bausch Health Cos., Inc.
5.00%, 1/30/2028 (a)
75,000
63,206
Grifols SA
4.75%, 10/15/2028 (a)
50,000
49,230
Organon & Co./Organon Foreign
Debt Co-Issuer BV
4.13%, 4/30/2028 (a)
75,000
74,092
 
186,528
PIPELINES — 4.2%
Antero Midstream
Partners LP/Antero Midstream
Finance Corp.
5.75%, 1/15/2028 (a)
40,000
39,991
Buckeye Partners LP
4.13%, 12/1/2027
30,000
29,583
Hess Midstream Operations LP
5.13%, 6/15/2028 (a)
60,000
59,845
Kinetik Holdings LP
6.63%, 12/15/2028 (a)
50,000
51,068
Martin Midstream
Partners LP/Martin Midstream
Finance Corp.
11.50%, 2/15/2028 (a)
30,000
30,750
 
211,237
REAL ESTATE INVESTMENT TRUSTS — 4.8%
Brandywine Operating
Partnership LP
8.30%, 3/15/2028
48,000
49,828
See accompanying notes to Schedule of Investments.
57

STATE STREET MY2028 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Diversified Healthcare Trust
4.75%, 2/15/2028
$30,000
$29,318
Global Net Lease, Inc.
4.50%, 9/30/2028 (a)
40,000
39,115
Hudson Pacific Properties LP
5.95%, 2/15/2028
30,000
29,708
Iron Mountain, Inc.
5.25%, 3/15/2028 (a)
60,000
59,894
RHP Hotel Properties LP/RHP
Finance Corp.
7.25%, 7/15/2028 (a)
30,000
30,646
 
238,509
RETAIL — 4.1%
1011778 BC ULC/New Red
Finance, Inc.
3.88%, 1/15/2028 (a)
75,000
73,695
Bath & Body Works, Inc.
5.25%, 2/1/2028
40,000
40,120
Bloomin' Brands, Inc./OSI
Restaurant Partners LLC
5.13%, 4/15/2029 (a)
10,000
9,569
FirstCash, Inc.
4.63%, 9/1/2028 (a)
35,000
34,521
Group 1 Automotive, Inc.
4.00%, 8/15/2028 (a)
50,000
48,633
 
206,538
SEMICONDUCTORS — 1.0%
Entegris, Inc.
4.38%, 4/15/2028 (a)
10,000
9,853
ON Semiconductor Corp.
3.88%, 9/1/2028 (a)
40,000
39,019
 
48,872
SOFTWARE — 2.9%
Fair Isaac Corp.
4.00%, 6/15/2028 (a)
30,000
29,352
Open Text Corp.
3.88%, 2/15/2028 (a)
50,000
48,553
PTC, Inc.
4.00%, 2/15/2028 (a)
35,000
34,355
Rocket Software, Inc.
9.00%, 11/28/2028 (a)
35,000
35,292
 
147,552
TELECOMMUNICATIONS — 4.6%
Altice Financing SA
5.00%, 1/15/2028 (a)
50,000
36,653
Security Description
 
Principal
Amount
Value
GCI LLC
4.75%, 10/15/2028 (a)
$40,000
$38,609
GoTo Group, Inc.
5.50%, 5/1/2028 (a)
40,000
31,446
Iliad Holding SAS
7.00%, 10/15/2028 (a)
70,000
70,534
Meridian Arc Holdco LLC
6.25%, 4/30/2031 (a)
20,000
20,105
Viasat, Inc.
6.50%, 7/15/2028 (a)
35,000
34,993
 
232,340
TRUCKING & LEASING — 1.0%
FTAI Aviation Investors LLC
5.50%, 5/1/2028 (a)
50,000
49,966
TOTAL CORPORATE BONDS &
NOTES
(Cost $4,905,758)
4,899,665
 
 
Shares
 
SHORT-TERM INVESTMENT — 1.7%
State Street Institutional
U.S. Government Money Market
Fund, Class G Shares 3.60% (b)
(c)
(Cost $83,569)
83,569
83,569
TOTAL INVESTMENTS — 99.4%
(Cost $4,989,327)
4,983,234
OTHER ASSETS IN EXCESS OF LIABILITIES —
0.6%
31,249
NET ASSETS — 100.0%
$5,014,483
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 78.9% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(c)
The rate shown is the annualized seven-day yield at
May 31, 2026.
See accompanying notes to Schedule of Investments.
58

STATE STREET MY2028 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$4,899,665
$
$4,899,665
Short-Term Investment
83,569
83,569
TOTAL INVESTMENTS
$83,569
$4,899,665
$
$4,983,234
Affiliate Table
 
Number of
Shares Held
at
2/26/26*
Value at
2/26/26*
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional U.S. Government Money Market Fund, Class G
Shares
$
$674,650
$591,081
$
$
83,569
$83,569
$354
State Street Institutional U.S. Government Money Market Fund, Premier
Class
104,200
104,200
49
Total
$
$778,850
$695,281
$
$
$83,569
$403
*
Commencement of operations.
See accompanying notes to Schedule of Investments.
59

STATE STREET MY2029 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 96.8%
ADVERTISING — 3.0%
Clear Channel Outdoor Holdings,
Inc.
7.50%, 6/1/2029 (a)
$40,000
$40,162
CMG Media Corp.
8.88%, 6/18/2029 (a)
20,000
16,119
Neptune Bidco U.S., Inc.
9.29%, 4/15/2029 (a)
65,000
66,475
Stagwell Global LLC
5.63%, 8/15/2029 (a)
30,000
29,134
 
151,890
AEROSPACE & DEFENSE — 2.6%
AAR Escrow Issuer LLC
6.75%, 3/15/2029 (a)
30,000
30,803
TransDigm, Inc.
6.38%, 3/1/2029 (a)
100,000
101,987
 
132,790
APPAREL — 1.2%
Crocs, Inc.
4.25%, 3/15/2029 (a)
40,000
38,748
Wolverine World Wide, Inc.
4.00%, 8/15/2029 (a)
25,000
23,603
 
62,351
AUTO MANUFACTURERS — 0.7%
Nissan Motor Acceptance Co. LLC
5.55%, 9/13/2029 (a)
25,000
24,491
PM General Purchaser LLC
9.50%, 10/1/2028 (a)
15,000
13,372
 
37,863
AUTO PARTS & EQUIPMENT — 1.5%
IHO Verwaltungs GmbH
6.38%, 5/15/2029 (a)
25,000
25,082
Phinia, Inc.
6.75%, 4/15/2029 (a)
30,000
30,858
Tenneco, Inc.
8.00%, 11/17/2028 (a)
20,000
20,111
 
76,051
BANKS — 0.3%
Armor Holdco, Inc.
8.50%, 11/15/2029 (a)
15,000
15,085
CHEMICALS — 5.4%
FMC Corp.
8.00%, 6/1/2031 (a) (b)
50,000
52,261
Huntsman International LLC
4.50%, 5/1/2029
30,000
29,045
INEOS Quattro Finance 2 PLC
9.63%, 3/15/2029 (a)
15,000
14,465
Mativ Holdings, Inc.
8.00%, 10/1/2029 (a)
20,000
19,945
Methanex Corp.
5.25%, 12/15/2029
30,000
29,949
Security Description
 
Principal
Amount
Value
Olin Corp.
5.00%, 2/1/2030
$35,000
$33,988
Olympus Water U.S. Holding Corp.:
4.25%, 10/1/2028 (a)
40,000
38,952
6.25%, 10/1/2029 (a)
25,000
24,506
Rain Carbon, Inc.
12.25%, 9/1/2029 (a)
25,000
26,542
 
269,653
COAL — 1.0%
Alliance Resource Operating
Partners LP/Alliance Resource
Finance Corp.
8.63%, 6/15/2029 (a)
25,000
26,136
SunCoke Energy, Inc.
4.88%, 6/30/2029 (a)
25,000
23,942
 
50,078
COMMERCIAL SERVICES — 5.3%
Alta Equipment Group, Inc.
9.00%, 6/1/2029 (a)
25,000
24,017
AMN Healthcare, Inc.
4.00%, 4/15/2029 (a)
25,000
24,122
CPI CG, Inc.
10.00%, 7/15/2029 (a)
20,000
21,051
GEO Group, Inc.
8.63%, 4/15/2029
30,000
31,285
Hertz Corp.
12.63%, 7/15/2029 (a)
36,000
32,834
Mavis Tire Express Services Topco
Corp.
6.50%, 5/15/2029 (a)
5,000
4,999
Paysafe Finance PLC/Paysafe
Holdings U.S. Corp.
4.00%, 6/15/2029 (a)
15,000
12,950
PROG Holdings, Inc.
6.00%, 11/15/2029 (a)
30,000
29,449
RR Donnelley & Sons Co.
9.50%, 8/1/2029 (a)
45,000
46,664
TriNet Group, Inc.
3.50%, 3/1/2029 (a)
30,000
28,045
VM Consolidated, Inc.
5.50%, 4/15/2029 (a)
11,000
9,456
 
264,872
COMPUTERS — 0.3%
Conduent Business
Services LLC/Conduent State &
Local Solutions, Inc.
6.00%, 11/1/2029 (a)
15,000
13,041
DISTRIBUTION & WHOLESALE — 0.3%
S&S Holdings LLC
8.38%, 10/1/2031 (a)
15,000
14,386
DIVERSIFIED FINANCIAL SERVICES — 3.2%
Enova International, Inc.
9.13%, 8/1/2029 (a)
30,000
31,405
Freedom Mortgage Holdings LLC
9.25%, 2/1/2029 (a)
20,000
20,829
See accompanying notes to Schedule of Investments.
60

STATE STREET MY2029 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Oxford Finance LLC/Oxford Finance
Co-Issuer II, Inc.
7.75%, 5/15/2031 (a)
$45,000
$44,659
PennyMac Financial Services, Inc.
6.88%, 5/15/2032 (a)
25,000
24,508
Planet Financial Group LLC
10.50%, 12/15/2029 (a)
25,000
25,029
PRA Group, Inc.
8.88%, 1/31/2030 (a)
15,000
15,415
 
161,845
ELECTRIC — 2.5%
ContourGlobal Power Holdings SA
6.75%, 2/28/2030 (a)
20,000
20,463
Leeward Renewable Energy
Operations LLC
4.25%, 7/1/2029 (a)
25,000
23,880
NRG Energy, Inc.
4.96%, 4/30/2031 (a)
50,000
49,487
XPLR Infrastructure Operating
Partners LP
7.25%, 1/15/2029 (a)
30,000
31,251
 
125,081
ELECTRICAL COMPONENTS & EQUIPMENT — 0.7%
WESCO Distribution, Inc.
6.38%, 3/15/2029 (a)
35,000
35,820
ELECTRONICS — 1.7%
Coherent Corp.
5.00%, 12/15/2029 (a)
59,000
58,440
TTM Technologies, Inc.
4.00%, 3/1/2029 (a)
30,000
29,062
 
87,502
ENGINEERING & CONSTRUCTION — 0.9%
Dycom Industries, Inc.
4.50%, 4/15/2029 (a)
20,000
19,643
Global Infrastructure Solutions, Inc.
5.63%, 6/1/2029 (a)
25,000
24,958
 
44,601
ENTERTAINMENT — 1.7%
AMC Entertainment Holdings, Inc.
7.50%, 2/15/2029 (a)
35,000
30,529
Great Canadian Gaming
Corp./Raptor LLC
8.75%, 11/15/2029 (a)
30,000
29,522
Premier Entertainment
Sub LLC/Premier Entertainment
Finance Corp.
5.63%, 9/1/2029 (a)
20,000
11,973
Scientific Games
Holdings LP/Scientific Games
U.S. FinCo, Inc.
6.63%, 3/1/2030 (a)
15,000
13,023
 
85,047
Security Description
 
Principal
Amount
Value
ENVIRONMENTAL CONTROL — 0.4%
Clean Harbors, Inc.
5.13%, 7/15/2029 (a)
$20,000
$19,898
FOOD — 0.7%
U.S. Foods, Inc.
4.75%, 2/15/2029 (a)
35,000
34,557
HEALTH CARE SERVICES — 3.8%
Centene Corp.
4.63%, 12/15/2029
15,000
14,603
Charles River Laboratories
International, Inc.
3.75%, 3/15/2029 (a)
25,000
23,952
CHS/Community Health Systems,
Inc.
6.88%, 4/15/2029 (a)
40,000
39,508
Kedrion SpA
6.50%, 9/1/2029 (a)
35,000
34,502
Prime Healthcare Services, Inc.
9.38%, 9/1/2029 (a)
45,000
47,048
U.S. Acute Care Solutions LLC
9.75%, 5/15/2029 (a)
35,000
33,547
 
193,160
HOME BUILDERS — 1.6%
Ashton Woods USA LLC/Ashton
Woods Finance Co.
4.63%, 8/1/2029 (a)
30,000
28,777
Empire Communities Corp.
9.75%, 5/1/2029 (a)
30,000
30,850
LGI Homes, Inc.
4.00%, 7/15/2029 (a)
25,000
22,862
 
82,489
HOME FURNISHINGS — 0.5%
Whirlpool Corp.
4.75%, 2/26/2029
25,000
23,613
HOUSEHOLD PRODUCTS — 0.6%
Edgewell Personal Care Co.
4.13%, 4/1/2029 (a)
30,000
28,682
HOUSEHOLD PRODUCTS & WARES — 0.3%
ACCO Brands Corp.
4.25%, 3/15/2029 (a)
15,000
13,800
INSURANCE — 2.0%
Alliant Holdings
Intermediate LLC/Alliant Holdings
Co-Issuer
5.88%, 11/1/2029 (a)
30,000
29,267
Broadstreet Partners Group LLC
5.88%, 4/15/2029 (a)
30,000
29,629
HUB International Ltd.
5.63%, 12/1/2029 (a)
30,000
29,648
Jones Deslauriers Insurance
Management, Inc.
8.50%, 3/15/2030 (a)
10,000
10,201
 
98,745
See accompanying notes to Schedule of Investments.
61

STATE STREET MY2029 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
INTERNET — 3.7%
AP Core Holdings II LLC
11.00%, 5/15/2031 (a)
$15,000
$15,704
Cars.com, Inc.
6.38%, 11/1/2028 (a)
20,000
19,611
Go Daddy Operating Co. LLC/GD
Finance Co., Inc.
3.50%, 3/1/2029 (a)
25,000
23,537
ION Platform Finance U.S., Inc./ION
Platform Finance SARL
8.75%, 5/1/2029 (a)
45,000
41,501
Match Group Holdings II LLC
5.63%, 2/15/2029 (a)
25,000
25,002
Rakuten Group, Inc.
11.25%, 2/15/2027 (a)
50,000
51,964
ZipRecruiter, Inc.
5.00%, 1/15/2030 (a)
15,000
10,344
 
187,663
INVESTMENT COMPANY SECURITIES — 2.5%
BlackRock TCP Capital Corp.
6.95%, 5/30/2029
15,000
14,910
Compass Group Diversified
Holdings LLC
5.25%, 4/15/2029 (a)
40,000
38,258
FS KKR Capital Corp.
6.88%, 8/15/2029
15,000
15,050
Icahn Enterprises LP/Icahn
Enterprises Finance Corp.
9.75%, 1/15/2029
60,000
59,541
 
127,759
IT SERVICES — 1.7%
Pitney Bowes, Inc.
7.25%, 3/15/2029 (a)
50,000
50,432
Seagate Data Storage Technology
Pte. Ltd.
4.09%, 6/1/2029 (a)
35,000
34,285
 
84,717
LEISURE TIME — 2.4%
Carnival Corp. Ltd.
5.13%, 5/1/2029 (a)
33,000
32,958
Kingpin Intermediate Holdings LLC
7.25%, 10/15/2032 (a)
15,000
13,009
MajorDrive Holdings IV LLC
6.38%, 6/1/2029 (a)
20,000
17,007
Sabre GLBL, Inc.
10.75%, 11/15/2029 (a)
25,000
22,516
Viking Cruises Ltd.
7.00%, 2/15/2029 (a)
35,000
35,153
 
120,643
LODGING — 2.8%
Genting New York LLC/GENNY
Capital, Inc.
7.25%, 10/1/2029 (a)
30,000
30,649
Hilton Domestic Operating Co., Inc.
5.88%, 4/1/2029 (a)
40,000
40,591
Security Description
 
Principal
Amount
Value
Hilton Grand Vacations
Borrower LLC/Hilton Grand
Vacations Borrower, Inc.
5.00%, 6/1/2029 (a)
$35,000
$34,058
Travel & Leisure Co.
6.25%, 6/1/2031 (a)
35,000
35,200
 
140,498
MACHINERY, CONSTRUCTION & MINING — 0.5%
BWX Technologies, Inc.
4.13%, 4/15/2029 (a)
25,000
24,216
MACHINERY-DIVERSIFIED — 1.0%
GrafTech Finance, Inc.
4.63%, 12/23/2029 (a)
30,000
20,844
Mueller Water Products, Inc.
4.00%, 6/15/2029 (a)
30,000
28,986
 
49,830
MEDIA — 4.1%
AMC Global Media, Inc.
4.25%, 2/15/2029
20,000
17,762
DISH DBS Corp.
5.13%, 6/1/2029
45,000
40,729
EchoStar Corp.
10.75%, 11/30/2029
65,000
70,652
Gray Media, Inc.
5.38%, 11/15/2031 (a)
10,000
7,170
iHeartCommunications, Inc.
10.88%, 5/1/2030 (a)
20,000
16,982
LCPR Senior Secured Financing
DAC
5.13%, 7/15/2029 (a)
25,000
15,629
McGraw-Hill Education, Inc.
8.00%, 8/1/2029 (a)
30,000
30,129
Univision Communications, Inc.
8.88%, 4/15/2033 (a)
10,000
9,962
 
209,015
METAL FABRICATE & HARDWARE — 1.1%
Roller Bearing Co. of America, Inc.
4.38%, 10/15/2029 (a)
30,000
29,343
TMS International Corp.
6.25%, 4/15/2029 (a)
25,000
24,688
 
54,031
MINING — 2.6%
Alcoa Nederland Holding BV
4.13%, 3/31/2029 (a)
30,000
29,243
Coeur Mining, Inc.
5.13%, 2/15/2029 (a)
30,000
29,774
Constellium SE
3.75%, 4/15/2029 (a)
30,000
28,917
JW Aluminum Continuous Cast Co.
10.25%, 4/1/2030 (a)
20,000
21,154
PLS Group Ltd.
6.88%, 5/1/2031 (a)
20,000
20,516
 
129,604
See accompanying notes to Schedule of Investments.
62

STATE STREET MY2029 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
MISCELLANEOUS MANUFACTURER — 0.4%
Amsted Industries, Inc.
4.63%, 5/15/2030 (a)
$20,000
$19,414
OFFICE & BUSINESS EQUIPMENT — 0.3%
Xerox Corp.
10.25%, 10/15/2030 (a)
15,000
13,236
OIL & GAS — 5.4%
Hilcorp Energy I LP/Hilcorp Finance
Co.
6.00%, 4/15/2030 (a)
30,000
29,830
Ithaca Energy North Sea PLC
8.13%, 10/15/2029 (a)
30,000
31,200
Kraken Oil & Gas Partners LLC
7.13%, 5/15/2031 (a)
30,000
29,775
Precision Drilling Corp.
6.88%, 1/15/2029 (a)
30,000
30,270
Saturn Oil & Gas, Inc.
9.63%, 6/15/2029 (a)
24,000
25,141
SM Energy Co.
6.75%, 8/1/2029 (a)
35,000
35,874
Sunoco LP
7.00%, 5/1/2029 (a)
60,000
61,902
TGNR Intermediate Holdings LLC
5.50%, 10/15/2029 (a)
30,000
29,559
 
273,551
PACKAGING & CONTAINERS — 1.8%
Clearwater Paper Corp.
4.75%, 8/15/2028 (a)
15,000
12,157
Clydesdale Acquisition Holdings,
Inc.
6.63%, 4/15/2029 (a)
30,000
29,636
Sword Purchaser LLC
8.25%, 4/15/2033 (a)
25,000
25,750
TriMas Corp.
4.13%, 4/15/2029 (a)
25,000
24,014
 
91,557
PHARMACEUTICALS — 3.2%
Accendra Health, Inc.
6.63%, 4/1/2030 (a)
25,000
15,060
Adapthealth LLC
4.63%, 8/1/2029 (a)
33,000
31,846
Bausch Health Cos., Inc.
6.25%, 2/15/2029 (a)
40,000
28,683
HLF Financing SARL LLC/Herbalife
International, Inc.
7.75%, 5/1/2033 (a)
40,000
40,400
Jazz Securities DAC
4.38%, 1/15/2029 (a)
45,000
44,140
 
160,129
PIPELINES — 2.0%
Delek Logistics Partners LP/Delek
Logistics Finance Corp.
8.63%, 3/15/2029 (a)
25,000
26,035
Hess Midstream Operations LP
6.50%, 6/1/2029 (a)
40,000
41,039
Security Description
 
Principal
Amount
Value
NGL Energy Operating LLC/NGL
Energy Finance Corp.
8.13%, 2/15/2029 (a)
$35,000
$36,382
 
103,456
REAL ESTATE INVESTMENT TRUSTS — 3.9%
Brandywine Operating
Partnership LP
8.88%, 4/12/2029
35,000
36,873
Hudson Pacific Properties LP
5.95%, 2/15/2028
20,000
19,805
Iron Mountain, Inc.
4.88%, 9/15/2029 (a)
25,000
24,563
MPT Operating Partnership LP/MPT
Finance Corp.
4.63%, 8/1/2029
25,000
20,479
RHP Hotel Properties LP/RHP
Finance Corp.
4.50%, 2/15/2029 (a)
40,000
39,260
Rithm Capital Corp.
8.00%, 4/1/2029 (a)
30,000
30,094
RLJ Lodging Trust LP
4.00%, 9/15/2029 (a)
25,000
23,846
 
194,920
RETAIL — 4.0%
Arko Corp.
5.13%, 11/15/2029 (a)
25,000
22,860
Bloomin' Brands, Inc./OSI
Restaurant Partners LLC
5.13%, 4/15/2029 (a)
15,000
14,354
Ferrellgas LP/Ferrellgas Finance
Corp.
5.88%, 4/1/2029 (a)
5,000
4,896
FirstCash, Inc.
4.63%, 9/1/2028 (a)
20,000
19,726
Global Auto Holdings Ltd./AAG FH
U.K. Ltd.
11.50%, 8/15/2029 (a)
35,000
36,310
Murphy Oil USA, Inc.
4.75%, 9/15/2029
30,000
29,495
Staples, Inc.
10.75%, 9/1/2029 (a)
55,000
52,321
Superior Plus LP/Superior General
Partner, Inc.
4.50%, 3/15/2029 (a)
25,000
24,223
 
204,185
SEMICONDUCTORS — 1.3%
ams-OSRAM AG
12.25%, 3/30/2029 (a)
25,000
26,531
Entegris, Inc.
4.75%, 4/15/2029 (a)
40,000
39,734
 
66,265
SOFTWARE — 5.5%
Cloud Software Group, Inc.:
6.50%, 3/31/2029 (a)
75,000
74,547
9.00%, 9/30/2029 (a)
75,000
74,108
See accompanying notes to Schedule of Investments.
63

STATE STREET MY2029 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CoreWeave, Inc.
9.75%, 10/1/2031 (a)
$25,000
$25,778
Elastic NV
4.13%, 7/15/2029 (a)
30,000
28,724
Open Text Corp.
3.88%, 12/1/2029 (a)
20,000
18,356
Rocket Software, Inc.
9.00%, 11/28/2028 (a)
25,000
25,209
Twilio, Inc.
3.63%, 3/15/2029
30,000
28,903
 
275,625
TELECOMMUNICATIONS — 4.1%
Altice Financing SA
5.75%, 8/15/2029 (a)
50,000
36,237
Altice France SA
9.50%, 11/1/2029 (a)
45,000
45,781
Lumen Technologies, Inc.
4.50%, 1/15/2029 (a)
25,000
24,210
Meridian Arc Holdco LLC
6.25%, 4/30/2031 (a)
20,000
20,105
Uniti Group LP/Uniti Group Finance
2019, Inc./CSL Capital LLC
6.50%, 2/15/2029 (a)
40,000
39,516
Zegona Finance PLC
8.63%, 7/15/2029 (a)
40,000
41,923
 
207,772
TRANSPORTATION — 0.3%
Seaspan Corp.
5.50%, 8/1/2029 (a)
15,000
14,522
TOTAL CORPORATE BONDS &
NOTES
(Cost $4,866,245)
4,875,508
Security Description
 
Shares
Value
SHORT-TERM INVESTMENT — 1.7%
State Street Institutional
U.S. Government Money Market
Fund, Class G Shares 3.60% (c)
(d)
(Cost $83,690)
83,690
$83,690
TOTAL INVESTMENTS — 98.5%
(Cost $4,949,935)
4,959,198
OTHER ASSETS IN EXCESS OF LIABILITIES —
1.5%
74,860
NET ASSETS — 100.0%
$5,034,058
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 86.6% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
When-issued security.
(c)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(d)
The rate shown is the annualized seven-day yield at
May 31, 2026.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$4,875,508
$
$4,875,508
Short-Term Investment
83,690
83,690
TOTAL INVESTMENTS
$83,690
$4,875,508
$
$4,959,198
See accompanying notes to Schedule of Investments.
64

STATE STREET MY2029 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Affiliate Table
 
Number of
Shares Held
at
2/26/26*
Value at
2/26/26*
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional U.S. Government Money Market Fund, Class G
Shares
$
$1,013,907
$930,217
$
$
83,690
$83,690
$640
State Street Institutional U.S. Government Money Market Fund, Premier
Class
150,753
150,753
78
Total
$
$1,164,660
$1,080,970
$
$
$83,690
$718
*
Commencement of operations.
See accompanying notes to Schedule of Investments.
65

STATE STREET MY2030 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 94.8%
ADVERTISING — 0.2%
Advantage Sales & Marketing, Inc.
9.00%, 11/15/2030 (a)
$10,000
$8,314
AEROSPACE & DEFENSE — 1.3%
ATI, Inc.
7.25%, 8/15/2030
25,000
25,971
Bombardier, Inc.
8.75%, 11/15/2030 (a)
35,000
37,152
 
63,123
AGRICULTURE — 0.8%
Darling Ingredients, Inc.
6.00%, 6/15/2030 (a)
40,000
40,414
APPAREL — 0.4%
William Carter Co.
7.38%, 2/15/2031 (a)
20,000
20,687
AUTO MANUFACTURERS — 2.1%
New Flyer Holdings, Inc.
9.25%, 7/1/2030 (a)
30,000
32,204
Nissan Motor Co. Ltd.
4.81%, 9/17/2030 (a)
80,000
74,951
 
107,155
AUTO PARTS & EQUIPMENT — 2.0%
Cyprium Corp./Cyprium Holdings
Luxembourg SARL
6.13%, 4/15/2031 (a)
25,000
25,035
IHO Verwaltungs GmbH
7.75%, 11/15/2030 (a)
30,000
31,009
ZF North America Capital, Inc.
7.13%, 4/14/2030 (a)
45,000
45,310
 
101,354
CHEMICALS — 2.9%
FMC Corp.
8.00%, 6/1/2031 (a) (b)
50,000
52,261
Huntsman International LLC
2.95%, 6/15/2031
15,000
12,947
Nufarm Australia Ltd./Nufarm
Americas, Inc.
5.00%, 1/27/2030 (a)
25,000
23,315
Olin Corp.
5.00%, 2/1/2030
30,000
29,132
SNF Group SACA
3.38%, 3/15/2030 (a)
10,000
9,319
Tronox, Inc.
9.13%, 9/30/2030 (a)
20,000
20,243
 
147,217
COMMERCIAL SERVICES — 3.2%
Albion Financing 1 SARL/Aggreko
Holdings, Inc.
7.00%, 5/21/2030 (a)
45,000
46,473
Mobius Merger Sub, Inc.
9.00%, 6/1/2030 (a)
20,000
13,371
Security Description
 
Principal
Amount
Value
PROG Holdings, Inc.
6.00%, 11/15/2029 (a)
$20,000
$19,632
RR Donnelley & Sons Co.
11.00%, 6/1/2031 (a)
25,000
24,287
Sotheby's
8.25%, 4/15/2031 (a)
15,000
14,766
Veritiv Operating Co.
10.50%, 11/30/2030 (a)
40,000
41,043
 
159,572
COMPUTERS — 0.9%
McAfee Corp.
7.38%, 2/15/2030 (a)
50,000
42,763
CONSTRUCTION MATERIALS — 2.4%
CP Atlas Buyer, Inc.
9.75%, 7/15/2030 (a)
25,000
23,521
EMRLD Borrower LP/Emerald
Co-Issuer, Inc.
6.63%, 12/15/2030 (a)
50,000
51,152
Standard Industries, Inc.
4.38%, 7/15/2030 (a)
50,000
47,643
 
122,316
DIVERSIFIED FINANCIAL SERVICES — 5.8%
Aretec Group, Inc.
10.00%, 8/15/2030 (a)
25,000
26,536
Burford Capital Global Finance LLC
6.88%, 4/15/2030 (a)
10,000
9,513
Credit Acceptance Corp.
6.63%, 3/15/2030 (a)
25,000
25,168
CrossCountry Intermediate
HoldCo LLC
6.50%, 10/1/2030 (a)
30,000
29,571
Encore Capital Group, Inc.
8.50%, 5/15/2030 (a)
30,000
31,909
goeasy Ltd.
6.88%, 5/15/2030 (a)
28,000
25,183
Navient Corp.
9.38%, 7/25/2030
25,000
25,470
Oxford Finance LLC/Oxford Finance
Co-Issuer II, Inc.
7.75%, 5/15/2031 (a)
45,000
44,658
PennyMac Financial Services, Inc.
6.88%, 5/15/2032 (a)
25,000
24,508
PRA Group, Inc.
8.88%, 1/31/2030 (a)
20,000
20,554
TrueNoord Capital DAC
8.75%, 3/1/2030 (a)
25,000
25,604
 
288,674
ELECTRIC — 2.0%
ContourGlobal Power Holdings SA
6.75%, 2/28/2030 (a)
30,000
30,695
Leeward Renewable Energy
Operations LLC
4.25%, 7/1/2029 (a)
25,000
23,879
NRG Energy, Inc.
4.96%, 4/30/2031 (a)
25,000
24,744
See accompanying notes to Schedule of Investments.
66

STATE STREET MY2030 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
XPLR Infrastructure Operating
Partners LP
7.25%, 1/15/2029 (a)
$20,000
$20,834
 
100,152
ELECTRONICS — 0.9%
Sensata Technologies, Inc.:
3.75%, 2/15/2031 (a)
35,000
32,811
4.38%, 2/15/2030 (a)
11,000
10,682
 
43,493
ENTERTAINMENT — 1.8%
Caesars Entertainment, Inc.
7.00%, 2/15/2030 (a)
25,000
25,291
Great Canadian Gaming
Corp./Raptor LLC
8.75%, 11/15/2029 (a)
18,000
17,713
Premier Entertainment
Sub LLC/Premier Entertainment
Finance Corp.
5.63%, 9/1/2029 (a)
10,000
5,986
Resorts World Las
Vegas LLC/RWLV Capital, Inc.
8.45%, 7/27/2030 (a)
20,000
19,900
Scientific Games
Holdings LP/Scientific Games
U.S. FinCo, Inc.
6.63%, 3/1/2030 (a)
25,000
21,706
 
90,596
ENVIRONMENTAL CONTROL — 0.4%
Clean Harbors, Inc.
5.13%, 7/15/2029 (a)
20,000
19,898
HEALTH CARE PRODUCTS — 0.4%
Embecta Corp.
5.00%, 2/15/2030 (a)
25,000
19,376
HEALTH CARE SERVICES — 6.0%
Centene Corp.
4.63%, 12/15/2029
15,000
14,603
CHS/Community Health Systems,
Inc.
6.13%, 4/1/2030 (a)
50,000
45,490
DaVita, Inc.
4.63%, 6/1/2030 (a)
75,000
72,868
Encompass Health Corp.
4.75%, 2/1/2030
35,000
34,450
Fortrea Holdings, Inc.
7.50%, 7/1/2030 (a)
30,000
30,221
Kedrion SpA
6.50%, 9/1/2029 (a)
20,000
19,716
MPH Acquisition Holdings LLC
5.75%, 12/31/2030 (a)
30,000
24,158
Pediatrix Medical Group, Inc.
5.38%, 2/15/2030 (a)
30,000
29,690
Radiology Partners, Inc.
8.50%, 7/15/2032 (a)
30,000
30,578
 
301,774
Security Description
 
Principal
Amount
Value
HOME BUILDERS — 0.6%
Mattamy Group Corp.
4.63%, 3/1/2030 (a)
$30,000
$28,809
HOME FURNISHINGS — 0.4%
FXI Holdings, Inc.
11.00%, 11/15/2030 (a)
25,000
20,994
HOUSEWARES — 0.9%
Central Garden & Pet Co.
4.13%, 10/15/2030
45,000
42,638
INSURANCE — 2.9%
Acrisure LLC/Acrisure Finance, Inc.
7.50%, 11/6/2030 (a)
40,000
39,960
APH Somerset Investor 2
LLC/APH2 Somerset Investor 2
LLC/APH3 Somerset Investor 2
LLC
7.88%, 11/1/2029 (a)
10,000
10,039
Baldwin Insurance Group
Holdings LLC/Baldwin Insurance
Group Holdings Finance
7.13%, 5/15/2031 (a)
15,000
15,059
CRC Insurance Group LLC
7.13%, 6/1/2031 (a)
10,000
10,022
HUB International Ltd.
7.25%, 6/15/2030 (a)
25,000
25,700
Jones Deslauriers Insurance
Management, Inc.
8.50%, 3/15/2030 (a)
25,000
25,503
Nassau Cos., of New York
7.88%, 7/15/2030 (a)
20,000
19,066
 
145,349
INTERNET — 2.0%
AP Core Holdings II LLC
11.00%, 5/15/2031 (a)
15,000
15,704
ION Platform Finance U.S., Inc./ION
Platform Finance SARL
9.00%, 8/1/2029 (a)
10,000
9,178
Match Group Holdings II LLC
4.13%, 8/1/2030 (a)
30,000
28,254
Ziff Davis, Inc.
4.63%, 10/15/2030 (a)
30,000
28,483
ZipRecruiter, Inc.
5.00%, 1/15/2030 (a)
30,000
20,687
 
102,306
INVESTMENT COMPANY SECURITIES — 0.9%
FS KKR Capital Corp.
6.88%, 8/15/2029
20,000
20,067
Icahn Enterprises LP/Icahn
Enterprises Finance Corp.
9.00%, 6/15/2030
25,000
23,772
 
43,839
See accompanying notes to Schedule of Investments.
67

STATE STREET MY2030 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
IT SERVICES — 0.5%
Seagate Data Storage Technology
Pte. Ltd.
5.88%, 7/15/2030 (a)
$25,000
$25,446
LEISURE TIME — 1.8%
Kingpin Intermediate Holdings LLC
7.25%, 10/15/2032 (a)
15,000
13,009
Lindblad Expeditions LLC
7.00%, 9/15/2030 (a)
37,000
38,113
Sabre GLBL, Inc.
10.75%, 3/15/2030 (a)
45,000
39,939
 
91,061
LODGING — 1.6%
Genting New York LLC/GENNY
Capital, Inc.
7.25%, 10/1/2029 (a)
15,000
15,325
Hilton Domestic Operating Co., Inc.
4.88%, 1/15/2030
40,000
39,633
Travel & Leisure Co.
4.63%, 3/1/2030 (a)
25,000
24,033
 
78,991
MEDIA — 9.3%
AMC Global Media, Inc.
10.50%, 7/15/2032 (a)
15,000
15,522
Block Communications, Inc.
10.25%, 3/1/2031 (a)
10,000
9,347
CSC Holdings LLC
4.13%, 12/1/2030 (a)
75,000
42,811
Directv Financing LLC
8.88%, 2/1/2030 (a)
65,000
66,683
Discovery Communications LLC
3.63%, 5/15/2030
40,000
37,104
EW Scripps Co.
9.88%, 8/15/2030 (a)
25,000
23,898
Gray Media, Inc.
5.38%, 11/15/2031 (a)
25,000
17,926
iHeartCommunications, Inc.
10.88%, 5/1/2030 (a)
35,000
29,718
LCPR Senior Secured Financing
DAC
5.13%, 7/15/2029 (a)
10,000
6,252
McGraw-Hill Education, Inc.
8.00%, 8/1/2029 (a)
20,000
20,086
Paramount Global:
4.20%, 5/19/2032
45,000
38,924
4.95%, 1/15/2031
15,000
13,984
Sinclair Television Group, Inc.
5.50%, 3/1/2030 (a)
20,000
17,817
Univision Communications, Inc.
8.88%, 4/15/2033 (a)
10,000
9,962
Versant Media Group, Inc.
7.25%, 1/30/2031 (a)
20,000
20,772
Virgin Media Secured Finance PLC
4.50%, 8/15/2030 (a)
55,000
47,860
Ziggo Bond Co. BV
5.13%, 2/28/2030 (a)
15,000
13,081
Security Description
 
Principal
Amount
Value
Ziggo BV
4.88%, 1/15/2030 (a)
$35,000
$32,662
 
464,409
METAL FABRICATE & HARDWARE — 0.7%
Park-Ohio Industries, Inc.
8.50%, 8/1/2030 (a)
25,000
26,234
Roller Bearing Co. of America, Inc.
4.38%, 10/15/2029 (a)
10,000
9,781
 
36,015
MINING — 4.0%
Alumina Pty. Ltd.
6.13%, 3/15/2030 (a)
30,000
30,653
Arsenal AIC Parent LLC
8.00%, 10/1/2030 (a)
25,000
26,195
JW Aluminum Continuous Cast Co.
10.25%, 4/1/2030 (a)
25,000
26,442
Novelis Corp.
6.88%, 1/30/2030 (a)
65,000
66,843
PLS Group Ltd.
6.88%, 5/1/2031 (a)
20,000
20,516
Taseko Mines Ltd.
8.25%, 5/1/2030 (a)
30,000
31,422
 
202,071
MISCELLANEOUS MANUFACTURER — 0.5%
Amsted Industries, Inc.
4.63%, 5/15/2030 (a)
25,000
24,268
OFFICE & BUSINESS EQUIPMENT — 0.4%
Xerox Corp.
10.25%, 10/15/2030 (a)
25,000
22,060
OIL & GAS — 6.5%
Breakwater Energy Holdings SARL
9.25%, 11/15/2030 (a)
35,000
37,144
Chord Energy Corp.
6.00%, 10/1/2030 (a)
45,000
45,541
Hilcorp Energy I LP/Hilcorp Finance
Co.
6.00%, 4/15/2030 (a)
30,000
29,830
Kraken Oil & Gas Partners LLC
7.13%, 5/15/2031 (a)
30,000
29,775
Noble Finance II LLC
8.00%, 4/15/2030 (a)
45,000
46,787
PBF Holding Co. LLC/PBF Finance
Corp.
9.88%, 3/15/2030 (a)
45,000
48,107
Seadrill Finance Ltd.
8.38%, 8/1/2030 (a)
30,000
31,313
SM Energy Co.
6.75%, 8/1/2029 (a)
25,000
25,624
Valaris Ltd.
8.38%, 4/30/2030 (a)
30,000
31,214
 
325,335
OIL & GAS SERVICES — 4.2%
Kodiak Gas Services LLC
5.88%, 4/1/2031 (a)
43,000
43,230
See accompanying notes to Schedule of Investments.
68

STATE STREET MY2030 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
SESI LLC
7.88%, 9/30/2030 (a)
$35,000
$36,136
TGS ASA
8.50%, 1/15/2030 (a)
30,000
31,534
Tidewater, Inc.
9.13%, 7/15/2030 (a)
30,000
32,301
Viridien
10.00%, 10/15/2030 (a)
25,000
26,703
WBI Operating LLC
6.25%, 10/15/2030 (a)
40,000
40,369
 
210,273
PACKAGING & CONTAINERS — 3.5%
Ardagh Group SA
9.50%, 12/1/2030 (a)
55,000
58,705
Cascades, Inc./Cascades USA, Inc.
6.75%, 7/15/2030 (a)
25,000
25,400
Clydesdale Acquisition Holdings,
Inc.
8.75%, 4/15/2030 (a)
20,000
19,215
Mauser Packaging Solutions
Holding Co.
9.25%, 4/15/2030 (a)
50,000
47,906
Sword Purchaser LLC
8.25%, 4/15/2033 (a)
25,000
25,750
 
176,976
PHARMACEUTICALS — 3.0%
Accendra Health, Inc.
6.63%, 4/1/2030 (a)
25,000
15,060
Adapthealth LLC
5.13%, 3/1/2030 (a)
30,000
29,083
Bausch Health Cos., Inc.
14.00%, 10/15/2030 (a)
45,000
42,678
BellRing Brands, Inc.
7.00%, 3/15/2030 (a)
25,000
24,839
HLF Financing SARL LLC/Herbalife
International, Inc.
7.75%, 5/1/2033 (a)
40,000
40,400
 
152,060
PIPELINES — 0.2%
Excelerate Energy LP
8.00%, 5/15/2030 (a)
10,000
10,580
REAL ESTATE INVESTMENT TRUSTS — 4.8%
Arbor Realty SR, Inc.
7.88%, 7/15/2030 (a)
20,000
18,787
Diversified Healthcare Trust
4.38%, 3/1/2031
25,000
22,780
EF Holdco/EF Cayman
Holdings/Ellington Financial REIT
Cayman/TRS/EF Cayman
Non-MTM
7.38%, 9/30/2030 (a)
25,000
24,974
Hudson Pacific Properties LP
5.95%, 2/15/2028
20,000
19,805
Iron Mountain, Inc.
5.25%, 7/15/2030 (a)
45,000
44,480
Security Description
 
Principal
Amount
Value
Millrose Properties, Inc.
6.38%, 8/1/2030 (a)
$20,000
$20,274
Park Intermediate Holdings LLC/PK
Domestic Property LLC/PK
Finance Co-Issuer
7.00%, 2/1/2030 (a)
30,000
30,705
Rithm Capital Corp.
8.00%, 4/1/2029 (a)
25,000
25,078
Uniti Group LP/Uniti Fiber Holdings,
Inc./CSL Capital LLC
6.00%, 1/15/2030 (a)
35,000
34,014
 
240,897
RETAIL — 3.8%
Carvana Co.
9.00%, 6/1/2031 (a)
45,000
49,725
Fertitta Entertainment LLC/Fertitta
Entertainment Finance Co., Inc.
6.75%, 1/15/2030 (a)
40,000
39,012
FirstCash, Inc.
5.63%, 1/1/2030 (a)
30,000
29,932
Staples, Inc.
10.75%, 9/1/2029 (a)
25,000
23,782
White Cap Supply Holdings LLC
7.38%, 11/15/2030 (a)
15,000
14,950
Yum! Brands, Inc.
4.75%, 1/15/2030 (a)
35,000
34,516
 
191,917
SEMICONDUCTORS — 0.8%
Kioxia Holdings Corp.
6.25%, 7/24/2030 (a)
40,000
41,247
SOFTWARE — 3.9%
AthenaHealth Group, Inc.
6.50%, 2/15/2030 (a)
50,000
48,201
Cloud Software Group, Inc.
9.00%, 9/30/2029 (a)
20,000
19,762
CoreWeave, Inc.:
9.25%, 6/1/2030 (a)
25,000
25,509
9.75%, 10/1/2031 (a)
35,000
36,090
Open Text Corp.
3.88%, 12/1/2029 (a)
15,000
13,767
Open Text Holdings, Inc.
4.13%, 2/15/2030 (a)
40,000
36,749
Pagaya U.S. Holdings Co. LLC
8.88%, 8/1/2030 (a)
20,000
15,651
 
195,729
TELECOMMUNICATIONS — 3.5%
Ciena Corp.
4.00%, 1/31/2030 (a)
30,000
28,756
Connect Holding II LLC
10.50%, 4/3/2031 (a)
20,000
20,361
Core Scientific Finance I LLC
7.75%, 5/15/2031 (a)
35,000
35,817
Edged Compute LLC
7.50%, 4/30/2031 (a)
15,000
15,044
See accompanying notes to Schedule of Investments.
69

STATE STREET MY2030 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Flash Compute LLC
7.25%, 12/31/2030 (a)
$15,000
$15,484
Meridian Arc Holdco LLC
6.25%, 4/30/2031 (a)
20,000
20,105
PR RNO Property Owner 1 LLC
6.50%, 5/1/2031 (a)
15,000
15,017
SE Cosmos LLC
8.88%, 5/1/2031 (a)
25,000
26,160
 
176,744
TRANSPORTATION — 0.6%
Rand Parent LLC
8.50%, 2/15/2030 (a)
30,000
30,937
TOTAL CORPORATE BONDS &
NOTES
(Cost $4,766,389)
4,757,829
 
 
Shares
 
SHORT-TERM INVESTMENT — 4.2%
State Street Institutional
U.S. Government Money Market
Fund, Class G Shares 3.60% (c)
(d)
(Cost $209,664)
209,664
209,664
TOTAL INVESTMENTS — 99.0%
(Cost $4,976,053)
4,967,493
OTHER ASSETS IN EXCESS OF LIABILITIES —
1.0%
48,035
NET ASSETS — 100.0%
$5,015,528
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 86.9% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
When-issued security.
(c)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(d)
The rate shown is the annualized seven-day yield at
May 31, 2026.
Abbreviations:
 
REIT
Real Estate Investment Trust
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$4,757,829
$
$4,757,829
Short-Term Investment
209,664
209,664
TOTAL INVESTMENTS
$209,664
$4,757,829
$
$4,967,493
Affiliate Table
 
Number of
Shares Held
at
2/26/26*
Value at
2/26/26*
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional U.S. Government Money Market Fund, Class G
Shares
$
$1,124,596
$914,932
$
$
209,664
$209,664
$862
State Street Institutional U.S. Government Money Market Fund, Premier
Class
141,103
141,103
84
Total
$
$1,265,699
$1,056,035
$
$
$209,664
$946
*
Commencement of operations.
See accompanying notes to Schedule of Investments.
70

STATE STREET MY2031 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CORPORATE BONDS & NOTES — 97.0%
ADVERTISING — 0.8%
Neptune Bidco U.S., Inc.
10.38%, 5/15/2031 (a)
$40,000
$41,789
AEROSPACE & DEFENSE — 1.4%
ATI, Inc.
5.13%, 10/1/2031
30,000
29,729
Bombardier, Inc.
7.25%, 7/1/2031 (a)
40,000
42,087
 
71,816
AIRLINES — 1.1%
JetBlue Airways Corp./JetBlue
Loyalty LP
9.88%, 9/20/2031 (a)
60,000
55,215
APPAREL — 1.0%
Crocs, Inc.
4.13%, 8/15/2031 (a)
13,000
12,111
William Carter Co.
7.38%, 2/15/2031 (a)
35,000
36,202
 
48,313
AUTO MANUFACTURERS — 1.8%
Allison Transmission, Inc.
3.75%, 1/30/2031 (a)
50,000
46,829
JB Poindexter & Co., Inc.
8.75%, 12/15/2031 (a)
40,000
41,131
 
87,960
AUTO PARTS & EQUIPMENT — 1.7%
Goodyear Tire & Rubber Co.
5.25%, 7/15/2031
30,000
26,637
ZF North America Capital, Inc.
7.50%, 3/24/2031 (a)
60,000
60,578
 
87,215
CHEMICALS — 3.2%
Cerdia Finanz GmbH
9.38%, 10/3/2031 (a)
35,000
30,985
FMC Corp.
8.00%, 6/1/2031 (a) (b)
50,000
52,261
Huntsman International LLC
2.95%, 6/15/2031
35,000
30,211
Olympus Water U.S. Holding Corp.
7.25%, 6/15/2031 (a)
30,000
30,457
Tronox, Inc.
9.13%, 9/30/2030 (a)
15,000
15,182
 
159,096
COMMERCIAL SERVICES — 3.4%
AMN Healthcare, Inc.
6.50%, 1/15/2031 (a)
30,000
30,138
GEO Group, Inc.
10.25%, 4/15/2031
35,000
37,877
RR Donnelley & Sons Co.
11.00%, 6/1/2031 (a)
25,000
24,287
Security Description
 
Principal
Amount
Value
Sotheby's
8.25%, 4/15/2031 (a)
$30,000
$29,531
TriNet Group, Inc.
7.13%, 8/15/2031 (a)
30,000
30,190
Veritiv Operating Co.
10.50%, 11/30/2030 (a)
20,000
20,522
 
172,545
CONSTRUCTION MATERIALS — 0.6%
Knife River Corp.
7.75%, 5/1/2031 (a)
30,000
31,142
DISTRIBUTION & WHOLESALE — 0.5%
S&S Holdings LLC
8.38%, 10/1/2031 (a)
25,000
23,977
DIVERSIFIED FINANCIAL SERVICES — 7.1%
Bread Financial Holdings, Inc.
6.75%, 5/15/2031 (a)
35,000
35,818
Burford Capital Global Finance LLC
9.25%, 7/1/2031 (a)
20,000
19,279
Coinbase Global, Inc.
3.63%, 10/1/2031 (a)
30,000
26,488
Jane Street Group/JSG Finance,
Inc.
7.13%, 4/30/2031 (a)
25,000
25,948
Jefferies Finance LLC/JFIN
Co-Issuer Corp.
6.63%, 10/15/2031 (a)
35,000
34,500
Navient Corp.:
9.38%, 10/15/2031
30,000
29,899
11.50%, 3/15/2031
25,000
26,606
Oxford Finance LLC/Oxford Finance
Co-Issuer II, Inc.
7.75%, 5/15/2031 (a)
45,000
44,658
PennyMac Financial Services, Inc.
6.88%, 5/15/2032 (a)
25,000
24,508
SLM Corp.
SOFR + 2.71%, 6.50%,
5/15/2032 (c)
50,000
50,008
StoneX Group, Inc.
7.88%, 3/1/2031 (a)
35,000
36,833
 
354,545
ELECTRIC — 2.7%
Emera U.S. Finance LLC
Series A, 5 yr. CMT + 2.87%,
6.65%, 10/1/2056 (c)
17,000
17,163
Long Ridge Energy LLC
8.75%, 2/15/2032 (a)
25,000
25,981
NRG Energy, Inc.
4.96%, 4/30/2031 (a)
50,000
49,488
XPLR Infrastructure Operating
Partners LP
7.25%, 1/15/2029 (a)
40,000
41,668
 
134,300
ELECTRICAL COMPONENTS & EQUIPMENT — 1.1%
EnerSys
6.63%, 1/15/2032 (a)
25,000
25,739
See accompanying notes to Schedule of Investments.
71

STATE STREET MY2031 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
WESCO Distribution, Inc.
5.25%, 4/15/2031 (a)
$30,000
$29,761
 
55,500
ELECTRONICS — 1.3%
Atkore, Inc.
4.25%, 6/1/2031 (a)
30,000
28,604
Sensata Technologies, Inc.
3.75%, 2/15/2031 (a)
40,000
37,499
 
66,103
ENTERTAINMENT — 2.6%
Caesars Entertainment, Inc.
6.50%, 2/15/2032 (a)
20,000
19,514
Discovery Global Holdings, Inc.
4.28%, 3/15/2032
25,000
22,001
Mohegan Tribal Gaming
Authority/MS Digital
Entertainment Holdings LLC
11.88%, 4/15/2031 (a)
40,000
43,456
Motion Finco SARL
8.38%, 2/15/2032 (a)
15,000
12,356
Premier Entertainment
Sub LLC/Premier Entertainment
Finance Corp.
5.88%, 9/1/2031 (a)
25,000
12,343
Resorts World Las
Vegas LLC/RWLV Capital, Inc.
8.45%, 7/27/2030 (a)
20,000
19,900
 
129,570
ENVIRONMENTAL CONTROL — 1.2%
Clean Harbors, Inc.
6.38%, 2/1/2031 (a)
35,000
35,563
Luna 1.5 SARL
12.00%, 7/1/2032 (a)
25,000
26,716
 
62,279
FOOD — 0.7%
Fiesta Purchaser, Inc.
7.88%, 3/1/2031 (a)
35,000
35,245
FOOD SERVICE — 0.6%
TKC Holdings, Inc.
12.00%, 2/15/2031 (a)
30,000
31,275
HEALTH CARE SERVICES — 1.9%
DaVita, Inc.
3.75%, 2/15/2031 (a)
60,000
55,801
HAH Group Holding Co. LLC
9.75%, 10/1/2031 (a)
30,000
26,956
MPH Acquisition Holdings LLC
5.75%, 12/31/2030 (a)
15,000
12,079
 
94,836
HOLDING COMPANIES-DIVERSIFIED — 1.6%
Clue Opco LLC
9.50%, 10/15/2031 (a)
30,000
28,185
Security Description
 
Principal
Amount
Value
Stena International SA
7.25%, 1/15/2031 (a)
$50,000
$51,265
 
79,450
HOME FURNISHINGS — 0.5%
FXI Holdings, Inc.
11.00%, 11/15/2030 (a)
10,000
8,397
Whirlpool Corp.
2.40%, 5/15/2031
25,000
19,156
 
27,553
HOUSEWARES — 0.8%
Central Garden & Pet Co.:
4.13%, 10/15/2030
15,000
14,213
4.13%, 4/30/2031 (a)
30,000
28,170
 
42,383
INSURANCE — 6.3%
Acrisure LLC/Acrisure Finance, Inc.
7.50%, 11/6/2030 (a)
20,000
19,980
Alliant Holdings
Intermediate LLC/Alliant Holdings
Co-Issuer
7.00%, 1/15/2031 (a)
50,000
50,752
Ardonagh Finco Ltd.
7.75%, 2/15/2031 (a)
45,000
45,336
Baldwin Insurance Group
Holdings LLC/Baldwin Insurance
Group Holdings Finance
7.13%, 5/15/2031 (a)
30,000
30,119
CRC Insurance Group LLC
7.13%, 6/1/2031 (a)
110,000
110,239
Howden U.K. Refinance
PLC/Howden U.K. Refinance 2
PLC/Howden U.S. Refinance LLC
7.25%, 2/15/2031 (a)
45,000
44,604
Nassau Cos., of New York
7.88%, 7/15/2030 (a)
15,000
14,300
 
315,330
INTERNET — 1.2%
AP Core Holdings II LLC
11.00%, 5/15/2031 (a)
15,000
15,704
Match Group Holdings II LLC
3.63%, 10/1/2031 (a)
35,000
31,381
ZipRecruiter, Inc.
5.00%, 1/15/2030 (a)
16,000
11,033
 
58,118
IRON/STEEL — 1.1%
Mineral Resources Ltd.:
6.00%, 5/1/2032 (a)
30,000
29,880
7.00%, 4/1/2031 (a)
25,000
25,990
 
55,870
IT SERVICES — 2.0%
Fortress Intermediate 3, Inc.
7.50%, 6/1/2031 (a)
35,000
35,386
See accompanying notes to Schedule of Investments.
72

STATE STREET MY2031 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Seagate Data Storage Technology
Pte. Ltd.
8.50%, 7/15/2031 (a)
$40,000
$41,810
Unisys Corp.
10.63%, 1/15/2031 (a)
25,000
24,377
 
101,573
LEISURE TIME — 0.3%
Kingpin Intermediate Holdings LLC
7.25%, 10/15/2032 (a)
15,000
13,009
LODGING — 2.3%
Hilton Domestic Operating Co., Inc.
4.00%, 5/1/2031 (a)
50,000
47,396
Hilton Grand Vacations
Borrower LLC/Hilton Grand
Vacations Borrower, Inc.
6.63%, 1/15/2032 (a)
30,000
30,541
Travel & Leisure Co.
6.25%, 6/1/2031 (a)
35,000
35,200
 
113,137
MACHINERY, CONSTRUCTION & MINING — 0.4%
Solaris Energy Infrastructure LLC
6.38%, 5/15/2031 (a)
20,000
20,315
MEDIA — 5.8%
AMC Global Media, Inc.
10.50%, 7/15/2032 (a)
15,000
15,522
Block Communications, Inc.
10.25%, 3/1/2031 (a)
15,000
14,020
CSC Holdings LLC
3.38%, 2/15/2031 (a)
60,000
33,627
Directv Financing LLC/Directv
Financing Co-Obligor, Inc.
10.00%, 2/15/2031 (a)
39,000
40,818
Dotdash Meredith, Inc.
7.63%, 6/15/2032 (a)
15,000
14,399
Gray Media, Inc.
5.38%, 11/15/2031 (a)
20,000
14,341
Paramount Global:
4.20%, 5/19/2032
55,000
47,573
4.95%, 1/15/2031
20,000
18,646
Univision Communications, Inc.:
8.50%, 7/31/2031 (a)
35,000
35,253
8.88%, 4/15/2033 (a)
10,000
9,962
Versant Media Group, Inc.
7.25%, 1/30/2031 (a)
45,000
46,738
 
290,899
METAL FABRICATE & HARDWARE — 0.4%
Park-Ohio Industries, Inc.
8.50%, 8/1/2030 (a)
20,000
20,987
MINING — 2.8%
Fortescue Treasury Pty. Ltd.
4.38%, 4/1/2031 (a)
50,000
47,792
Kaiser Aluminum Corp.
4.50%, 6/1/2031 (a)
35,000
33,545
Security Description
 
Principal
Amount
Value
Novelis Corp.
3.88%, 8/15/2031 (a)
$40,000
$36,382
PLS Group Ltd.
6.88%, 5/1/2031 (a)
20,000
20,516
 
138,235
OFFICE & BUSINESS EQUIPMENT — 0.4%
Xerox Corp.
10.25%, 10/15/2030 (a)
20,000
17,648
OIL & GAS — 4.8%
CVR Energy, Inc.
7.50%, 2/15/2031 (a)
30,000
30,329
Hilcorp Energy I LP/Hilcorp Finance
Co.
6.00%, 2/1/2031 (a)
40,000
39,454
Kraken Oil & Gas Partners LLC
7.13%, 5/15/2031 (a)
30,000
29,775
Moss Creek Resources Holdings,
Inc.
8.25%, 9/1/2031 (a)
35,000
35,603
PBF Holding Co. LLC/PBF Finance
Corp.
7.25%, 6/1/2034 (a)
20,000
19,909
SM Energy Co.
8.75%, 7/1/2031 (a)
50,000
52,370
Transocean International Ltd.
7.50%, 4/15/2031
30,000
30,830
 
238,270
OIL & GAS SERVICES — 2.1%
Enerflex, Inc.
6.88%, 1/15/2031 (a)
35,000
35,955
Kodiak Gas Services LLC
5.88%, 4/1/2031 (a)
43,000
43,230
Star Holding LLC
8.75%, 8/1/2031 (a)
25,000
25,423
 
104,608
PACKAGING & CONTAINERS — 0.5%
Sword Purchaser LLC
8.25%, 4/15/2033 (a)
25,000
25,750
PHARMACEUTICALS — 1.2%
Accendra Health, Inc.
6.63%, 4/1/2030 (a)
15,000
9,036
Bausch Health Cos., Inc.
5.25%, 2/15/2031 (a)
20,000
11,477
HLF Financing SARL LLC/Herbalife
International, Inc.
7.75%, 5/1/2033 (a)
40,000
40,400
 
60,913
PIPELINES — 1.5%
Antero Midstream
Partners LP/Antero Midstream
Finance Corp.
6.63%, 2/1/2032 (a)
20,000
20,422
See accompanying notes to Schedule of Investments.
73

STATE STREET MY2031 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
CQP Holdco LP/BIP-V Chinook
Holdco LLC
5.50%, 6/15/2031 (a)
$55,000
$54,188
 
74,610
REAL ESTATE INVESTMENT TRUSTS — 2.5%
Blackstone Mortgage Trust, Inc.
6.25%, 6/1/2031 (a)
30,000
29,501
Brandywine Operating
Partnership LP
6.13%, 1/15/2031
20,000
18,760
Diversified Healthcare Trust
4.38%, 3/1/2031
25,000
22,781
MPT Operating Partnership LP/MPT
Finance Corp.
3.50%, 3/15/2031
40,000
28,709
Rithm Capital Corp.
8.50%, 6/1/2031 (a)
25,000
24,972
 
124,723
RETAIL — 2.8%
Carvana Co.
9.00%, 6/1/2031 (a)
70,000
77,349
Ferrellgas LP/Ferrellgas Finance
Corp.
9.25%, 1/15/2031 (a)
35,000
36,871
Petco Health & Wellness Co., Inc.
8.25%, 2/1/2031 (a)
25,000
25,025
 
139,245
SOFTWARE — 4.1%
CoreWeave, Inc.:
9.00%, 2/1/2031 (a)
30,000
30,415
9.75%, 10/1/2031 (a)
60,000
61,868
Open Text Corp.
3.88%, 12/1/2029 (a)
40,000
36,712
UKG, Inc.
6.88%, 2/1/2031 (a)
75,000
73,747
 
202,742
TELECOMMUNICATIONS — 16.5%
Altice France SA
6.50%, 10/15/2031 (a)
30,000
29,184
APLD ComputeCo 2 LLC
6.75%, 3/15/2031 (a)
25,000
25,194
Connect Holding II LLC
10.50%, 4/3/2031 (a)
75,000
76,355
Core Scientific Finance I LLC
7.75%, 5/15/2031 (a)
90,000
92,101
Edged Compute LLC
7.50%, 4/30/2031 (a)
45,000
45,133
Iliad Holding SAS
8.50%, 4/15/2031 (a)
45,000
47,676
Meridian Arc Holdco LLC
6.25%, 4/30/2031 (a)
145,000
145,763
PR RNO Property Owner 1 LLC
6.50%, 5/1/2031 (a)
20,000
20,022
Security Description
 
Principal
Amount
Value
SE Cosmos LLC
8.88%, 5/1/2031 (a)
$25,000
$26,160
SV RNO Property Owner 1 LLC
5.88%, 3/1/2031 (a)
120,000
118,464
Viasat, Inc.
7.50%, 5/30/2031 (a)
40,000
40,412
Vmed O2 U.K. Financing I PLC
4.25%, 1/31/2031 (a)
95,000
79,437
Windstream
Services LLC/Windstream Escrow
Finance Corp.
8.25%, 10/1/2031 (a)
75,000
79,160
 
825,061
TRANSPORTATION — 0.4%
RXO, Inc.
6.38%, 5/15/2031 (a)
20,000
20,155
TOTAL CORPORATE BONDS &
NOTES
(Cost $4,871,224)
4,853,305
 
 
Shares
 
SHORT-TERM INVESTMENT — 4.2%
State Street Institutional
U.S. Government Money Market
Fund, Class G Shares 3.60% (d)
(e)
(Cost $210,455)
210,455
210,455
TOTAL INVESTMENTS — 101.2%
(Cost $5,081,679)
5,063,760
LIABILITIES IN EXCESS OF OTHER ASSETS —
(1.2)%
(59,882)
NET ASSETS — 100.0%
$5,003,878
(a)
Securities purchased pursuant to Rule 144A of the
Securities Act of 1933, as amended. These securities,
which represent 87.6% of net assets as of May 31, 2026,
may be resold in transactions exempt from registration,
normally to qualified institutional buyers.
(b)
When-issued security.
(c)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(d)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(e)
The rate shown is the annualized seven-day yield at
May 31, 2026.
Abbreviations:
 
CMT
Constant Maturity Treasury
SOFR
Secured Overnight Financing Rate
See accompanying notes to Schedule of Investments.
74

STATE STREET MY2031 HIGH YIELD CORPORATE BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Corporate Bonds & Notes
$
$4,853,305
$
$4,853,305
Short-Term Investment
210,455
210,455
TOTAL INVESTMENTS
$210,455
$4,853,305
$
$5,063,760
Affiliate Table
 
Number of
Shares Held
at
2/26/26*
Value at
2/26/26*
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional U.S. Government Money Market Fund, Class G
Shares
$
$1,427,059
$1,216,604
$
$
210,455
$210,455
$1,189
State Street Institutional U.S. Government Money Market Fund, Premier
Class
422,873
422,873
256
Total
$
$1,849,932
$1,639,477
$
$
$210,455
$1,445
*
Commencement of operations.
See accompanying notes to Schedule of Investments.
75

STATE STREET MY2026 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
MUNICIPAL BONDS & NOTES — 107.2%
ARIZONA — 1.7%
City of Mesa Utility System Revenue,
AZ
5.00%, 7/1/2026 (a)
$150,000
$150,250
CALIFORNIA — 10.6%
Arcadia Unified School District,
General Obligation, CA
4.00%, 8/1/2038
225,000
225,084
Los Angeles Department of Water &
Power Revenue, CA
Series D, 5.00%, 7/1/2026
250,000
250,463
Los Angeles Department of Water &
Power Water System Revenue, CA
Series C, 5.00%, 7/1/2026
100,000
100,178
State of California, General Obligation,
CA:
4.00%, 9/1/2026
2,000
2,007
5.00%, 9/1/2028
50,000
50,309
Sunnyvale School District, General
Obligation, CA
5.00%, 9/1/2026 (a)
150,000
150,875
Temecula Valley Unified School
District, General Obligation, CA
5.00%, 8/1/2026
150,000
150,620
 
929,536
COLORADO — 3.1%
City & County of Denver Airport
System Revenue, CO
Series C, 5.00%, 11/15/2026
20,000
20,210
Colorado Health Facilities Authority
Revenue, CO
Series A, 5.00%, 12/1/2026 (a)
150,000
151,568
Larimer Weld & Boulder County
School District R-2J Thompson,
General Obligation, CO
Series J, State Aid Withholding,
5.50%, 12/15/2026
100,000
101,530
 
273,308
CONNECTICUT — 2.3%
State of Connecticut Special Tax
Revenue, CT
Series A, 5.00%, 9/1/2027
200,000
201,136
DELAWARE — 5.5%
Delaware State Health Facilities
Authority Revenue, DE
5.00%, 10/1/2026
100,000
100,742
Delaware Transportation Authority
Revenue, DE:
5.00%, 7/1/2026
155,000
155,305
5.00%, 9/1/2026
225,000
226,326
 
482,373
Security Description
 
Principal
Amount
Value
FLORIDA — 10.1%
City of Gainesville Utilities System
Revenue, FL
Series A, 5.00%, 10/1/2026
$65,000
$65,482
Escambia County School Board
Revenue, FL
5.00%, 9/1/2027
30,000
30,173
Florida Municipal Power Agency
Revenue, FL:
Series A, 5.00%, 10/1/2027
170,000
171,167
Series A, 5.00%, 10/1/2028
270,000
272,024
South Florida Water Management
District,Certificate Participation,FL
COPs, 5.00%, 10/1/2026
250,000
251,896
Tampa Bay Water Revenue, FL
Series A, 5.00%, 10/1/2037
95,000
95,540
 
886,282
GEORGIA — 2.5%
Richmond County Board of Education,
General Obligation, GA
State Aid Withholding, 5.00%,
10/1/2026
220,000
221,735
ILLINOIS — 5.1%
Illinois Finance Authority Revenue, IL
Series A, 4.00%, 10/1/2034
225,000
225,148
Lake Cook Kane & McHenry Counties
Community Unit School District 220
Barrington, General Obligation, IL
5.00%, 12/1/2026
200,000
202,130
State of Illinois, General Obligation, IL
Series B, 5.00%, 10/1/2026
20,000
20,141
 
447,419
INDIANA — 4.3%
City of Indianapolis Department of
Public Utilities Water System
Revenue, IN
Series A, 5.00%, 10/1/2026
135,000
136,037
Indiana Municipal Power Agency
Revenue, IN
Series C, 5.00%, 1/1/2027
35,000
35,064
Indianapolis Local Public Improvement
Bond Bank Revenue, IN
Series A, 5.00%, 6/1/2026
20,000
20,000
Richland-Bean Blossom School
Building Corp. Revenue, IN
State Aid Intercept, 5.00%,
7/15/2026
185,000
185,389
 
376,490
KANSAS — 1.8%
Johnson County Public Building
Commission Revenue, KS
Series A, 5.00%, 9/1/2026
120,000
120,616
See accompanying notes to Schedule of Investments.
76

STATE STREET MY2026 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Sedgwick County Unified School
District No. 265 Goddard, General
Obligation, KS
Series B, 5.00%, 10/1/2026
$35,000
$35,260
 
155,876
KENTUCKY — 4.9%
Kentucky State Property & Building
Commission Revenue, KY:
Series A, 5.00%, 11/1/2026
130,000
131,198
Series B, 5.00%, 11/1/2026
145,000
146,337
Kentucky Turnpike Authority Revenue,
KY
Series A, 5.00%, 7/1/2026
150,000
150,252
 
427,787
LOUISIANA — 0.4%
State of Louisiana, General Obligation,
LA
Series B, 5.00%, 8/1/2026
30,000
30,118
MARYLAND — 6.2%
Maryland Health & Higher Educational
Facilities Authority Revenue, MD
Series A, 5.00%, 8/15/2026
250,000
251,129
State of Maryland, General Obligation,
MD
Series B, 5.00%, 8/1/2026
20,000
20,078
Washington Suburban Sanitary
Commission Revenue, MD
Series SECOND, 5.00%, 6/1/2026
270,000
270,000
 
541,207
MASSACHUSETTS — 1.5%
Massachusetts Development Finance
Agency Revenue, MA:
5.00%, 10/1/2037
80,000
80,284
Series A, 5.00%, 7/15/2034
50,000
50,134
 
130,418
MICHIGAN — 1.6%
Michigan Finance Authority Revenue,
MI
Series A, 5.00%, 11/1/2026
135,000
136,290
MINNESOTA — 2.5%
State of Minnesota, General
Obligation, MN
Series D, 5.00%, 10/1/2026
215,000
216,775
NEW MEXICO — 2.9%
Albuquerque Municipal School District
No. 12, General Obligation, NM
State Aid Withholding, 5.00%,
8/1/2026
205,000
205,757
New Mexico Finance Authority
Revenue, NM
Series C1, 5.00%, 6/15/2026
40,000
40,035
Security Description
 
Principal
Amount
Value
State of New Mexico Severance Tax
Permanent Fund Revenue, NM
Series A, 5.00%, 7/1/2026
$5,000
$5,009
 
250,801
NEW YORK — 5.9%
Long Island Power Authority Revenue,
NY
Series B, 5.00%, 9/1/2031
175,000
175,964
Metropolitan Transportation Authority
Revenue, NY
Series B, 5.00%, 11/15/2032
40,000
40,343
New York City Transitional Finance
Authority Future Tax Secured
Revenue, NY
Series B1, 4.00%, 8/1/2037
300,000
300,605
 
516,912
NORTH CAROLINA — 2.4%
County of Durham, General
Obligation, NC
4.00%, 10/1/2026
210,000
210,951
OHIO — 4.3%
Ohio Water Development Authority
Revenue, OH
Series A, 5.00%, 6/1/2026
275,000
275,000
Olentangy Local School District,
General Obligation, OH
5.00%, 12/1/2026
100,000
101,205
 
376,205
PENNSYLVANIA — 2.8%
City of Philadelphia Water &
Wastewater Revenue, PA
Series B, 5.00%, 11/1/2026
75,000
75,710
Norristown Area School District,
General Obligation, PA
Series B, State Aid Withholding,
5.00%, 9/1/2026 (a)
170,000
170,873
 
246,583
SOUTH CAROLINA — 0.9%
South Carolina Public Service
Authority Revenue, SC
Series B, 5.00%, 12/1/2026
75,000
75,814
SOUTH DAKOTA — 0.1%
South Dakota Conservancy District
Revenue, SD
Series B, 5.00%, 8/1/2026
10,000
10,038
TENNESSEE — 1.2%
State of Tennessee, General
Obligation, TN
Series B, 5.00%, 8/1/2026
105,000
105,402
TEXAS — 11.2%
Aldine Independent School District,
General Obligation, TX
Permanent School Fund, 5.00%,
8/15/2026 (b)
225,000
226,042
See accompanying notes to Schedule of Investments.
77

STATE STREET MY2026 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
City of Houston, General Obligation,
TX
Series A, 5.00%, 3/1/2035
$130,000
$130,186
Edinburg Consolidated Independent
School District, General Obligation,
TX
Permanent School Fund, 5.00%,
8/15/2026 (b)
115,000
115,523
State of Texas, General Obligation,
TX:
5.00%, 10/1/2026
105,000
105,831
Series A, 5.00%, 10/1/2026
115,000
115,911
Texas Water Development Board
Revenue, TX:
5.00%, 8/1/2026
140,000
140,548
Series A, 5.00%, 10/15/2026
140,000
141,248
 
975,289
UTAH — 1.5%
State of Utah, General Obligation, UT
5.00%, 7/1/2026
130,000
130,249
VERMONT — 0.2%
State of Vermont, General Obligation,
VT
Series A, 5.00%, 8/15/2026
20,000
20,089
VIRGINIA — 2.9%
Commonwealth of Virginia, General
Obligation, VA
Series B, 5.00%, 6/1/2026
235,000
235,000
Virginia Commonwealth Transportation
Board Revenue, VA
5.00%, 9/15/2026
20,000
20,137
 
255,137
WASHINGTON — 3.6%
King County School District No. 400
Mercer Island, General Obligation,
WA
School Bond Guaranty, 5.00%,
12/1/2026
100,000
101,138
Port of Tacoma Revenue, WA
Series A, 5.00%, 12/1/2026
80,000
80,970
State of Washington, General
Obligation, WA:
Series 2017-A, 5.00%, 8/1/2035
65,000
65,248
Series B, 5.00%, 8/1/2030
65,000
65,248
 
312,604
Security Description
 
Principal
Amount
Value
WISCONSIN — 3.2%
Beaver Dam Unified School District,
General Obligation, WI
Build America Mutual Assurance
Corp., 5.00%, 10/1/2026 (b)
$125,000
$125,910
State of Wisconsin, General
Obligation, WI
5.00%, 11/1/2026
70,000
70,701
Three Lakes School District, General
Obligation, WI
Assured Guaranty, Inc., 5.00%,
9/1/2026 (b)
80,000
80,411
 
277,022
TOTAL MUNICIPAL BONDS & NOTES
(Cost $9,374,194)
9,370,096
 
 
Shares
 
SHORT-TERM INVESTMENT — 1.3%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (c) (d)
(Cost $113,284)
113,284
113,284
TOTAL INVESTMENTS — 108.5%
(Cost $9,487,478)
9,483,380
LIABILITIES IN EXCESS OF OTHER ASSETS —
(8.5)%
(740,527)
NET ASSETS — 100.0%
$8,742,853
(a)
When-issued security.
(b)
Bond is insured by the following:
 
% of
Net Assets
Permanent School Fund Guaranteed
3.9
%
Build America Mutual Assurance Corp.
1.5
%
Assured Guaranty, Inc.
0.9
%
(c)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(d)
The rate shown is the annualized seven-day yield at
May 31, 2026.
See accompanying notes to Schedule of Investments.
78

STATE STREET MY2026 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Municipal Bonds & Notes
$
$9,370,096
$
$9,370,096
Short-Term Investment
113,284
113,284
TOTAL INVESTMENTS
$113,284
$9,370,096
$
$9,483,380
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier
Class
41,946
$41,946
$6,401,875
$6,330,537
$
$
113,284
$113,284
$2,863
See accompanying notes to Schedule of Investments.
79

STATE STREET MY2027 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
MUNICIPAL BONDS & NOTES — 98.3%
ARIZONA — 1.2%
City of Phoenix Civic Improvement
Corp. Revenue, AZ
Series D, 5.00%, 7/1/2029
$40,000
$40,972
Maricopa County Unified School
District No. 4 Mesa, General
Obligation, AZ
Series D, 5.00%, 7/1/2027
75,000
76,959
 
117,931
CALIFORNIA — 1.3%
California Health Facilities Financing
Authority Revenue, CA
Series B, 5.00%, 10/1/2039 (a)
125,000
127,924
COLORADO — 2.0%
Board of Governors of Colorado State
University System Revenue, CO
Series A, 5.00%, 3/1/2027
175,000
178,105
Denver City & County School District
No. 1, General Obligation, CO
Series A, State Aid Withholding,
5.50%, 12/1/2028
15,000
15,653
 
193,758
CONNECTICUT — 2.7%
State of Connecticut Special Tax
Revenue, CT
Series A, 5.00%, 9/1/2027
265,000
266,505
DELAWARE — 0.3%
State of Delaware, General Obligation,
DE
Series A, 5.00%, 5/1/2027
25,000
25,557
DISTRICT OF COLUMBIA — 3.0%
District of Columbia Water & Sewer
Authority Revenue, DC
Series A, 5.00%, 10/1/2052
175,000
176,029
Washington Metropolitan Area Transit
Authority Revenue, DC
Series B, 5.00%, 7/1/2042
120,000
121,807
 
297,836
FLORIDA — 3.7%
Central Florida Expressway Authority
Revenue, FL
Series B, 5.00%, 7/1/2027
100,000
100,178
City of Gainesville Utilities System
Revenue, FL
Series A, 5.00%, 10/1/2031
135,000
138,908
State of Florida Department of
Transportation Turnpike System
Revenue, FL
Series A, 5.00%, 7/1/2027
125,000
128,365
 
367,451
Security Description
 
Principal
Amount
Value
GEORGIA — 3.0%
City of Atlanta Water & Wastewater
Revenue, GA
Series A, 5.00%, 11/1/2038
$60,000
$61,951
Houston County School District,
General Obligation, GA
State Aid Withholding, 5.00%,
9/1/2026
130,000
130,747
State of Georgia, General Obligation,
GA
Series A-2, 5.00%, 2/1/2030
100,000
101,706
 
294,404
HAWAII — 1.4%
City & County Honolulu Wastewater
System Revenue, HI
Series B, 5.00%, 7/1/2027
25,000
25,049
State of Hawaii, General Obligation, HI
Series EY, 5.00%, 10/1/2027
115,000
115,209
 
140,258
IDAHO — 1.4%
Idaho State Building Authority
Revenue, ID
Series A, 5.00%, 6/1/2027
140,000
143,439
ILLINOIS — 6.8%
City of Chicago Wastewater
Transmission Revenue, IL
Series B, 5.00%, 1/1/2036
85,000
85,845
State of Illinois, General Obligation, IL
Series A, 5.00%, 3/1/2027
135,000
137,169
Village of Elk Grove Village, General
Obligation, IL
5.00%, 1/1/2036
240,000
242,242
Village of Rosemont, General
Obligation, IL
Series A, Assured Guaranty, Inc.,
5.00%, 12/1/2046 (b)
205,000
205,032
 
670,288
IOWA — 3.4%
Iowa Finance Authority Revenue, IA
5.00%, 8/1/2028
125,000
128,538
State of Iowa Board of Regents
Revenue, IA
Series 2025A, 5.00%, 9/1/2027
200,000
205,610
 
334,148
KANSAS — 1.7%
Butler County Unified School District
No. 385 Andover, General
Obligation, KS
4.00%, 9/1/2028
135,000
137,244
Johnson County Public Building
Commission Revenue, KS
Series A, 4.00%, 9/1/2027
30,000
30,087
 
167,331
See accompanying notes to Schedule of Investments.
80

STATE STREET MY2027 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
LOUISIANA — 1.7%
State of Louisiana, General Obligation,
LA
Series E, 5.00%, 9/1/2027
$165,000
$170,040
MAINE — 1.9%
State of Maine, General Obligation,
ME
Series B, 5.00%, 6/1/2027
180,000
184,386
MARYLAND — 3.1%
State of Maryland Department of
Transportation Revenue, MD
Series C, 5.00%, 11/1/2027
185,000
191,488
State of Maryland, General Obligation,
MD
Series A, 5.00%, 3/1/2027
70,000
71,274
Washington Suburban Sanitary
Commission Revenue, MD
5.00%, 6/1/2027
45,000
46,101
 
308,863
MICHIGAN — 4.6%
Hancock Public Schools, General
Obligation, MI
Series I, Qualified School Bond
Loan Fund, 5.00%, 5/1/2027
380,000
387,559
L'Anse Creuse Public Schools,
General Obligation, MI
Series I, Qualified School Bond
Loan Fund, 5.00%, 5/1/2027
20,000
20,424
Michigan Finance Authority Revenue,
MI
Series B, 5.00%, 10/1/2027
45,000
45,354
 
453,337
MISSOURI — 2.3%
Valley Park Fire Protection District,
General Obligation, MO
4.00%, 3/1/2037
225,000
225,779
NEBRASKA — 0.5%
Public Power Generation Agency
Revenue, NE
Series A, 5.00%, 1/1/2027
50,000
50,686
NEW MEXICO — 2.4%
New Mexico Finance Authority
Revenue, NM
Series B, 5.00%, 6/1/2027
75,000
76,782
New Mexico Hospital Equipment Loan
Council Revenue, NM
Series A, 4.00%, 8/1/2036
160,000
159,658
 
236,440
NEW YORK — 9.9%
Build NYC Resource Corp. Revenue,
NY
5.00%, 8/1/2030
200,000
201,868
Security Description
 
Principal
Amount
Value
Metropolitan Transportation Authority
Dedicated Tax Fund Revenue, NY
Series A, 5.00%, 11/15/2035
$100,000
$101,842
New York City Municipal Water
Finance Authority Revenue, NY:
Series AA, 5.00%, 6/15/2037
55,000
56,076
Series DD, 5.00%, 6/15/2047
165,000
165,600
New York State Dormitory Authority
Revenue, NY:
Series A, 5.00%, 2/15/2038
20,000
20,222
Series B, 5.00%, 2/15/2035
20,000
20,447
Triborough Bridge & Tunnel Authority
Revenue, NY
Series B, 5.00%, 11/15/2033
400,000
407,702
 
973,757
NORTH CAROLINA — 2.3%
North Carolina Turnpike Authority
Revenue, NC
5.00%, 1/1/2032
225,000
227,399
OHIO — 2.2%
Ohio Higher Educational Facility
Commission Revenue, OH
5.00%, 7/1/2034
175,000
177,879
State of Ohio, General Obligation, OH
Series C, 5.00%, 8/1/2027
40,000
41,178
 
219,057
OKLAHOMA — 3.1%
Grand River Dam Authority Revenue,
OK
5.00%, 6/1/2033
125,000
127,527
Oklahoma Turnpike Authority
Revenue, OK:
Series A, 5.00%, 1/1/2027
50,000
50,701
Series A, 5.00%, 1/1/2032
130,000
131,563
 
309,791
PENNSYLVANIA — 4.5%
Allegheny County Higher Education
Building Authority Revenue, PA
Series A, 5.00%, 8/1/2027
105,000
107,908
Pennsylvania State University
Revenue, PA
Series A, 5.00%, 9/1/2037
20,000
20,491
Pennsylvania Turnpike Commission
Revenue, PA:
Series A-1, 5.00%, 12/1/2042
175,000
178,542
Series B-1, 5.00%, 6/1/2037
25,000
25,396
Philadelphia Housing Authority
Revenue, PA
5.00%, 5/1/2047
115,000
117,374
 
449,711
SOUTH CAROLINA — 0.1%
City of Charleston Waterworks &
Sewer System Revenue, SC
5.00%, 1/1/2027
15,000
15,211
See accompanying notes to Schedule of Investments.
81

STATE STREET MY2027 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
TENNESSEE — 3.1%
Metropolitan Government of Nashville
& Davidson County, General
Obligation, TN
5.00%, 1/1/2027
$225,000
$225,420
State of Tennessee, General
Obligation, TN
Series B, 5.00%, 8/1/2027
80,000
80,312
 
305,732
TEXAS — 7.1%
Austin Independent School District,
General Obligation, TX
Permanent School Fund, 5.00%,
8/1/2027 (b)
50,000
50,196
City of Dallas, General Obligation, TX
5.00%, 2/15/2029
55,000
55,888
City of Houston, General Obligation,
TX
Series A, 5.00%, 3/1/2027
40,000
40,074
County of Williamson, General
Obligation, TX
5.00%, 2/15/2027
45,000
45,749
Houston Independent School District,
General Obligation, TX
Series A, Permanent School Fund,
5.00%, 2/15/2027 (b)
110,000
110,182
Trinity River Authority Central Regional
Wastewater System Revenue, TX:
5.00%, 8/1/2026
275,000
276,052
5.00%, 8/1/2027
60,000
61,680
Via Metropolitan Transit Revenue, TX
5.00%, 7/15/2028
60,000
60,896
 
700,717
UTAH — 1.0%
State of Utah, General Obligation, UT
5.00%, 7/1/2027
100,000
102,627
VIRGINIA — 5.4%
Virginia College Building Authority
Revenue, VA
Series A, 5.00%, 2/1/2027
110,000
111,767
Virginia Commonwealth Transportation
Board Revenue, VA:
5.00%, 3/15/2027
50,000
50,329
Series A, 5.00%, 5/15/2027
135,000
138,164
Virginia Public Building Authority
Revenue, VA
Series A, 5.00%, 8/1/2027
225,000
231,520
 
531,780
WASHINGTON — 6.5%
County of King Sewer Revenue, WA
Series B, 5.00%, 7/1/2027
50,000
51,338
County of King, General Obligation,
WA
4.00%, 7/1/2030
15,000
15,196
Security Description
 
Principal
Amount
Value
Franklin County School District No. 1
Pasco, General Obligation, WA
School Bond Guaranty, 5.00%,
12/1/2029
$400,000
$414,067
Port of Tacoma, General Obligation,
WA
Series A, 5.00%, 12/1/2030
30,000
30,358
State of Washington, General
Obligation, WA:
Series 2017-A, 5.00%, 8/1/2027
110,000
110,420
Series D, 5.00%, 2/1/2040
20,000
20,210
 
641,589
WEST VIRGINIA — 2.1%
West Virginia Commissioner of
Highways Revenue, WV
Series A, 5.00%, 9/1/2028
200,000
205,803
WISCONSIN — 2.6%
Green Bay Area Public School District,
General Obligation, WI
5.00%, 4/1/2027
250,000
254,859
TOTAL MUNICIPAL BONDS & NOTES
(Cost $9,719,026)
9,714,394
 
 
Shares
 
SHORT-TERM INVESTMENT — 0.2%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (c) (d)
(Cost $21,860)
21,860
21,860
TOTAL INVESTMENTS — 98.5%
(Cost $9,740,886)
9,736,254
OTHER ASSETS IN EXCESS OF LIABILITIES —
1.5%
145,068
NET ASSETS — 100.0%
$9,881,322
(a)
Variable Rate Security - Interest rate shown is rate in effect
at May 31, 2026. For securities based on a published
reference rate and spread, the reference rate and spread
are indicated in the description above.
(b)
Bond is insured by the following:
 
% of
Net Assets
Assured Guaranty, Inc.
2.1
%
Permanent School Fund Guaranteed
1.6
%
(c)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(d)
The rate shown is the annualized seven-day yield at
May 31, 2026.
See accompanying notes to Schedule of Investments.
82

STATE STREET MY2027 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Municipal Bonds & Notes
$
$9,714,394
$
$9,714,394
Short-Term Investment
21,860
21,860
TOTAL INVESTMENTS
$21,860
$9,714,394
$
$9,736,254
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier Class
27,202
$27,202
$1,160,494
$1,165,836
$
$
21,860
$21,860
$1,056
See accompanying notes to Schedule of Investments.
83

STATE STREET MY2028 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
MUNICIPAL BONDS & NOTES — 98.3%
ARIZONA — 1.0%
Salt River Project Agricultural
Improvement & Power District
Revenue, AZ
Series A, 5.00%, 1/1/2037
$80,000
$82,371
CALIFORNIA — 3.1%
Metropolitan Water District of Southern
California Revenue, CA
5.00%, 1/1/2036
60,000
63,008
San Mateo County Community
College District, General Obligation,
CA
Series B, 5.00%, 9/1/2045
200,000
206,884
 
269,892
COLORADO — 1.9%
Larimer County School District No. R-1
Poudre, General Obligation, CO
State Aid Withholding, 5.00%,
12/15/2031
25,000
26,456
Regional Transportation District Sales
Tax Revenue, CO
Series B, 5.00%, 11/1/2034
70,000
71,998
University of Colorado Revenue, CO
Series A-2, 4.00%, 6/1/2038
60,000
60,974
 
159,428
CONNECTICUT — 2.7%
State of Connecticut, General
Obligation, CT
Series A, 5.00%, 3/15/2028
225,000
234,965
DISTRICT OF COLUMBIA — 0.4%
District of Columbia, General
Obligation, DC
Series D, 5.00%, 6/1/2028
30,000
30,716
FLORIDA — 4.9%
Miami-Dade County Educational
Facilities Authority Revenue, FL:
Series A, 5.00%, 4/1/2028
100,000
103,827
Series A, 5.00%, 4/1/2034
190,000
195,243
Series A, 5.00%, 4/1/2048
35,000
35,211
School District of Broward County,
General Obligation, FL
5.00%, 7/1/2034
25,000
26,007
State of Florida, General Obligation,
FL
Series A, 5.00%, 6/1/2028
55,000
57,660
 
417,948
GEORGIA — 3.8%
Atlanta Urban Redevelopment Agency
Revenue, GA
Series B, 5.00%, 7/1/2028
100,000
104,951
Security Description
 
Principal
Amount
Value
Municipal Electric Authority of Georgia
Revenue, GA
Series A, 5.00%, 1/1/2028
$225,000
$225,410
 
330,361
HAWAII — 0.8%
City & County of Honolulu, General
Obligation, HI
Series A, 5.00%, 9/1/2030
65,000
68,321
ILLINOIS — 5.0%
Illinois State Toll Highway Authority
Revenue, IL
Series A, 5.00%, 1/1/2035
75,000
77,216
State of Illinois, General Obligation, IL:
Series A, 5.00%, 3/1/2028
85,000
88,125
Series B, 5.00%, 10/1/2027
25,000
25,698
Series D, 5.00%, 7/1/2027
35,000
35,806
Series D, 5.00%, 11/1/2028
200,000
206,089
 
432,934
INDIANA — 2.2%
Indiana Finance Authority Revenue, IN
Series A, 5.00%, 2/1/2028
130,000
135,364
Indianapolis Local Public Improvement
Bond Bank Revenue, IN:
Series C, 4.00%, 1/1/2037
30,000
30,252
Series C, 5.00%, 1/1/2035
25,000
25,760
 
191,376
IOWA — 0.2%
Iowa Finance Authority Revenue, IA
Series A, 5.00%, 8/1/2033
20,000
20,935
KENTUCKY — 3.2%
Kentucky State Property & Building
Commission Revenue, KY
Series B, 5.00%, 11/1/2028
275,000
277,792
MARYLAND — 3.5%
State of Maryland, General Obligation,
MD
Series B, 5.00%, 8/1/2028
285,000
299,955
MASSACHUSETTS — 0.4%
Commonwealth of Massachusetts,
General Obligation, MA
Series A, 5.00%, 1/1/2038
35,000
35,949
MICHIGAN — 6.1%
City of Grosse Pointe, General
Obligation, MI
5.00%, 10/1/2031
175,000
184,171
Gibraltar School District, General
Obligation, MI
Qualified School Bond Loan Fund,
5.00%, 5/1/2037
175,000
180,387
See accompanying notes to Schedule of Investments.
84

STATE STREET MY2028 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Hancock Public Schools, General
Obligation, MI
Series I, Qualified School Bond
Loan Fund, 5.00%, 5/1/2028
$155,000
$161,617
 
526,175
NEVADA — 2.3%
Clark County School District, General
Obligation, NV
Series B, Build America Mutual
Assurance Corp., 5.00%, 6/15/2034
(a)
100,000
104,409
County of Clark, General Obligation,
NV
Series B, 5.00%, 12/1/2033
70,000
73,706
State of Nevada Highway
Improvement Revenue, NV
5.00%, 12/1/2028
20,000
20,038
 
198,153
NEW HAMPSHIRE — 1.9%
New Hampshire Health & Education
Facilities Authority Act Revenue, NH
Series A, 5.00%, 7/1/2028
160,000
163,924
NEW MEXICO — 2.7%
Albuquerque Municipal School District
No. 12, General Obligation, NM
State Aid Withholding, 5.00%,
8/1/2028
220,000
230,627
NEW YORK — 8.7%
City of New York, General Obligation,
NY
Series C, 5.00%, 8/1/2031
145,000
149,950
Empire State Development Corp.
Revenue, NY
Series A, 5.00%, 3/15/2033
300,000
304,933
New York City Transitional Finance
Authority Building Aid Revenue, NY
Series S-3, State Aid Withholding,
5.00%, 7/15/2034
275,000
286,167
New York City Transitional Finance
Authority Future Tax Secured
Revenue, NY
Series A1, 5.00%, 8/1/2035
10,000
10,390
 
751,440
OHIO — 8.0%
City of Columbus, General Obligation,
OH
Series A, 5.00%, 4/1/2028
200,000
208,969
Ohio Higher Educational Facility
Commission Revenue, OH
Series A, 4.00%, 12/1/2035
225,000
226,535
Ohio Water Development Authority
Water Pollution Control Loan Fund
Revenue, OH
Series A, 5.00%, 6/1/2028
240,000
245,779
Security Description
 
Principal
Amount
Value
State of Ohio Revenue, OH
Series 2016-1, 5.00%, 12/15/2028
$10,000
$10,009
 
691,292
OKLAHOMA — 1.9%
City of Oklahoma City, General
Obligation, OK
4.00%, 3/1/2028
35,000
35,365
Oklahoma County Independent School
District No. 12 Edmond, General
Obligation, OK
4.00%, 3/1/2028
125,000
128,050
 
163,415
PENNSYLVANIA — 7.1%
Commonwealth of Pennsylvania,
General Obligation, PA
Series 1ST, 4.00%, 3/1/2037
130,000
131,226
Pennsylvania Turnpike Commission
Oil Franchise Tax Revenue, PA
Series B, 5.25%, 12/1/2048
175,000
179,676
Pittsburgh School District, General
Obligation, PA
Series A, State Aid Withholding,
4.00%, 9/1/2039
100,000
100,491
Pittsburgh Water & Sewer Authority
Revenue, PA
Series A, 5.00%, 9/1/2028
150,000
157,408
School District of Philadelphia,
General Obligation, PA
Series A, State Aid Withholding,
5.00%, 9/1/2038
45,000
46,418
 
615,219
SOUTH DAKOTA — 0.6%
South Dakota Conservancy District
Revenue, SD
Series B, 5.00%, 8/1/2028
30,000
30,835
South Dakota State Building Authority
Revenue, SD
Series A, 5.00%, 6/1/2038
20,000
20,668
 
51,503
TENNESSEE — 1.0%
Metropolitan Government of Nashville
& Davidson County, General
Obligation, TN
5.00%, 7/1/2031
85,000
88,967
TEXAS — 11.7%
Conroe Municipal Management District
No. 1, General Obligation, TX
Build America Mutual Assurance
Corp., 4.00%, 9/1/2035 (a)
130,000
130,949
Harris County Cultural Education
Facilities Finance Corp. Revenue,
TX
5.00%, 11/15/2027
165,000
169,681
See accompanying notes to Schedule of Investments.
85

STATE STREET MY2028 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Hurst-Euless-Bedford Independent
School District, General Obligation,
TX
Permanent School Fund, 4.00%,
8/15/2038 (a)
$225,000
$226,552
Lower Colorado River Authority
Revenue, TX:
5.00%, 5/15/2035
40,000
41,340
5.00%, 5/15/2048
205,000
207,028
Texas Water Development Board
Revenue, TX
Series B, 5.00%, 4/15/2049
225,000
229,360
 
1,004,910
UTAH — 0.3%
Central Utah Water Conservancy
District Revenue, UT
Series B, 5.00%, 10/1/2028
25,000
25,788
VIRGINIA — 3.0%
Virginia College Building Authority
Revenue, VA
Series C, 5.00%, 2/1/2028
55,000
55,848
Virginia Public Building Authority
Revenue, VA
Series A, 5.00%, 8/1/2028
195,000
200,476
 
256,324
WASHINGTON — 3.4%
City of Marysville, General Obligation,
WA
Series B, 5.00%, 12/1/2038
25,000
25,759
City of Seattle Water System
Revenue, WA
5.00%, 8/1/2028
25,000
25,414
King County School District No. 401
Highline, General Obligation, WA
School Bond Guaranty, 5.00%,
12/1/2028
140,000
141,746
King County School District No. 414
Lake Washington, General
Obligation, WA
School Bond Guaranty, 5.00%,
12/1/2036
50,000
51,924
State of Washington, General
Obligation, WA
Series C, 5.00%, 2/1/2033
50,000
51,834
 
296,677
Security Description
 
Principal
Amount
Value
WEST VIRGINIA — 6.5%
State of West Virginia, General
Obligation, WV
Series B, 5.00%, 12/1/2033
$60,000
$62,477
West Virginia Commissioner of
Highways Revenue, WV
Series A, 5.00%, 9/1/2028
480,000
493,927
 
556,404
TOTAL MUNICIPAL BONDS & NOTES
(Cost $8,489,858)
8,473,761
 
 
Shares
 
SHORT-TERM INVESTMENT — 0.4%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (b) (c)
(Cost $34,640)
34,640
34,640
TOTAL INVESTMENTS — 98.7%
(Cost $8,524,498)
8,508,401
OTHER ASSETS IN EXCESS OF LIABILITIES —
1.3%
112,937
NET ASSETS — 100.0%
$8,621,338
(a)
Bond is insured by the following:
 
% of
Net Assets
Build America Mutual Assurance Corp.
2.7
%
Permanent School Fund Guaranteed
2.6
%
(b)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(c)
The rate shown is the annualized seven-day yield at
May 31, 2026.
See accompanying notes to Schedule of Investments.
86

STATE STREET MY2028 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Municipal Bonds & Notes
$
$8,473,761
$
$8,473,761
Short-Term Investment
34,640
34,640
TOTAL INVESTMENTS
$34,640
$8,473,761
$
$8,508,401
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier Class
52,297
$52,297
$2,312,631
$2,330,288
$
$
34,640
$34,640
$1,506
See accompanying notes to Schedule of Investments.
87

STATE STREET MY2029 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
MUNICIPAL BONDS & NOTES — 98.2%
ALABAMA — 3.1%
Alabama Public School & College
Authority Revenue, AL
Series A, 5.00%, 11/1/2029
$300,000
$323,263
Auburn University Revenue, AL
Series A, 5.00%, 6/1/2029
25,000
25,000
State of Alabama, General
Obligation, AL
Series A, 5.00%, 11/1/2031
70,000
73,789
 
422,052
ARIZONA — 3.2%
City of Mesa Utility System Revenue,
AZ
Series A, 5.00%, 7/1/2033
30,000
31,868
City of Phoenix Civic Improvement
Corp. Revenue, AZ
Series A, 5.00%, 7/1/2049
220,000
224,670
Maricopa County Industrial
Development Authority Revenue,
AZ
Series A, 4.00%, 1/1/2044
185,000
174,750
 
431,288
CALIFORNIA — 0.2%
California Infrastructure & Economic
Development Bank Revenue, CA
5.00%, 8/1/2038
25,000
26,265
COLORADO — 3.3%
Pueblo School District No. 60,
General Obligation, CO
State Aid Withholding, 5.00%,
12/15/2031
95,000
102,113
University of Colorado Revenue, CO
Series B, 5.00%, 6/1/2044
65,000
69,565
Weld County School District No. 6
Greeley, General Obligation, CO
State Aid Withholding, 5.00%,
12/1/2032
255,000
274,097
 
445,775
DELAWARE — 4.0%
Delaware Municipal Electric Corp.
Revenue, DE
Series A, Build America Mutual
Assurance Corp., 5.00%,
10/1/2033 (a)
160,000
169,272
Delaware Transportation Authority
Revenue, DE
5.00%, 9/1/2029
50,000
53,622
State of Delaware, General
Obligation, DE
5.00%, 2/1/2032
300,000
318,018
 
540,912
Security Description
 
Principal
Amount
Value
DISTRICT OF COLUMBIA —
0.2%
Washington Metropolitan Area
Transit Authority Revenue, DC
Series A-1, 5.00%, 7/1/2029
$20,000
$20,482
FLORIDA — 4.7%
Central Florida Expressway Authority
Revenue, FL
Series B, 5.00%, 7/1/2049
225,000
229,472
County of Miami-Dade Aviation
Revenue, FL
Series 2016A, 5.00%, 10/1/2029
45,000
45,329
County of Miami-Dade Revenue, FL
Series B, 5.00%, 4/1/2029
75,000
75,074
County of Miami-Dade Transit
System Revenue, FL
5.00%, 7/1/2033
80,000
84,751
Volusia County Educational Facility
Authority Revenue, FL
Series A, 4.00%, 10/15/2037
200,000
200,989
 
635,615
GEORGIA — 1.0%
City of Atlanta Water & Wastewater
Revenue, GA
Build America Mutual Assurance
Corp., 5.00%, 11/1/2029 (a)
125,000
134,859
HAWAII — 0.0% *
City & County Honolulu Wastewater
System Revenue, HI
Series B, 5.00%, 7/1/2032
5,000
5,325
IDAHO — 0.6%
Idaho Housing & Finance
Association Revenue, ID
Series A, 5.00%, 7/15/2036
75,000
78,953
ILLINOIS — 6.9%
Chicago O'Hare International Airport
Revenue, IL:
Series B, 5.00%, 1/1/2048
225,000
227,732
Series D, 5.25%, 1/1/2029
75,000
76,154
Illinois Finance Authority Revenue,
IL:
5.00%, 7/1/2029
75,000
76,010
5.00%, 7/1/2030
25,000
26,698
Series C, 5.00%, 2/15/2029
140,000
141,988
Kendall & Kane Counties Community
Unit School District No. 115,
General Obligation, IL
Series B, 5.00%, 1/1/2029
85,000
86,165
Regional Transportation Authority
Revenue, IL
Series A, 5.00%, 6/1/2029
75,000
75,108
State of Illinois, General Obligation,
IL
5.00%, 11/1/2029
230,000
231,881
 
941,736
See accompanying notes to Schedule of Investments.
88

STATE STREET MY2029 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
INDIANA — 0.9%
Indiana Finance Authority Revenue,
IN
Series C, 5.00%, 2/1/2032
$120,000
$126,929
IOWA — 2.4%
State of Iowa Board of Regents
Revenue, IA
Series 2025A, 5.00%, 9/1/2029
300,000
320,849
KANSAS — 0.3%
State of Kansas Department of
Transportation Revenue, KS
Series A, 5.00%, 9/1/2029
35,000
36,048
KENTUCKY — 3.7%
Kentucky Economic Development
Finance Authority Revenue, KY
Series A-2, 5.00%, 8/1/2035
225,000
235,126
Kentucky State Property & Building
Commission Revenue, KY:
Series B, 5.00%, 11/1/2028
200,000
211,212
Series B, 5.00%, 11/1/2029
40,000
42,996
Louisville & Jefferson County
Metropolitan Sewer District
Revenue, KY
Series A, 5.00%, 5/15/2029
15,000
16,002
 
505,336
MAINE — 0.4%
Maine Municipal Bond Bank
Revenue, ME
Series A, 5.00%, 11/1/2028
50,000
50,456
MARYLAND — 0.7%
County of Howard, General
Obligation, MD:
Series B, 5.00%, 2/15/2029
40,000
40,697
Series D, 5.00%, 2/15/2029
50,000
52,081
 
92,778
MASSACHUSETTS — 1.5%
Commonwealth of Massachusetts,
General Obligation, MA:
Series A, 5.00%, 1/1/2036
15,000
15,718
Series B, 5.00%, 7/1/2036
180,000
188,403
 
204,121
MICHIGAN — 0.9%
L'Anse Creuse Public Schools,
General Obligation, MI
Series I, Qualified School Bond
Loan Fund, 5.00%, 5/1/2029
50,000
53,238
Michigan State University Revenue,
MI
Series B, 5.00%, 2/15/2033
65,000
68,513
 
121,751
Security Description
 
Principal
Amount
Value
MINNESOTA — 0.2%
University of Minnesota Revenue,
MN
Series A, 5.00%, 4/1/2039
$25,000
$26,104
MISSISSIPPI — 0.2%
State of Mississippi, General
Obligation, MS
Series A, 5.00%, 10/1/2029
25,000
25,828
NEBRASKA — 1.6%
Omaha Public Power District
Revenue, NE:
Series A, 5.00%, 2/1/2031
65,000
68,719
Series A, 5.00%, 2/1/2032
85,000
89,765
University of Nebraska Facilities
Corp. Revenue, NE
Series A, 5.00%, 7/15/2029
55,000
56,376
 
214,860
NEVADA — 4.2%
Clark County School District,
General Obligation, NV
Series B, Build America Mutual
Assurance Corp., 5.00%,
6/15/2029 (a)
290,000
309,491
County of Clark, General Obligation,
NV
Series B, 5.00%, 12/1/2034
95,000
99,842
Las Vegas Valley Water District,
General Obligation, NV
Series A, 5.00%, 6/1/2029
150,000
160,592
 
569,925
NEW JERSEY — 3.3%
New Jersey Economic Development
Authority Revenue, NJ:
Series A, 5.00%, 11/1/2031
45,000
48,092
Series A, 5.00%, 11/1/2032
60,000
63,960
Series A, 5.00%, 11/1/2033
200,000
212,624
New Jersey Transportation Trust
Fund Authority Revenue, NJ
Series A, 5.00%, 12/15/2029
115,000
121,212
 
445,888
NEW YORK — 6.5%
Battery Park City Authority Revenue,
NY
Series B, 5.00%, 11/1/2036
40,000
42,412
Long Island Power Authority
Revenue, NY
Series A, 5.00%, 9/1/2029
50,000
53,913
New York City Municipal Water
Finance Authority Revenue, NY
Series AA, 5.00%, 6/15/2040
300,000
316,313
New York City Transitional Finance
Authority Future Tax Secured
Revenue, NY
Series A2, 5.00%, 5/1/2036
20,000
20,976
See accompanying notes to Schedule of Investments.
89

STATE STREET MY2029 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
New York State Dormitory Authority
Revenue, NY
Series A, 5.00%, 3/15/2033
$215,000
$227,397
Onondaga County Trust for Cultural
Resources Revenue, NY
5.00%, 12/1/2045
10,000
10,351
Utility Debt Securitization Authority
Revenue, NY
Series 1, 5.00%, 6/15/2031
200,000
214,806
 
886,168
NORTH CAROLINA — 2.7%
City of Charlotte Airport Revenue,
NC
Series A, 5.00%, 7/1/2049
225,000
229,516
State of North Carolina Revenue, NC
5.00%, 3/1/2032
135,000
142,778
 
372,294
OHIO — 4.8%
County of Hamilton Sales Tax
Revenue, OH
Series A, 5.00%, 12/1/2029
240,000
242,800
Euclid Public Library, General
Obligation, OH
Build America Mutual Assurance
Corp., 5.00%, 12/1/2053 (a)
110,000
111,633
State of Ohio Revenue, OH
Series 2016-1, 5.00%,
12/15/2028
300,000
300,255
 
654,688
OREGON — 2.6%
Oregon State Lottery Revenue, OR
Series A, 5.00%, 4/1/2029
300,000
319,992
State of Oregon Department of
Transportation Revenue, OR
Series A, 5.00%, 11/15/2042
25,000
26,178
 
346,170
PENNSYLVANIA — 4.8%
City of Philadelphia, General
Obligation, PA:
Series B, 5.00%, 2/1/2036
210,000
221,321
Series B, 5.00%, 2/1/2038
30,000
31,487
Series B, 5.00%, 2/1/2039
15,000
15,715
Pennsylvania Turnpike Commission
Revenue, PA:
Series 2017-3, 5.00%, 12/1/2029
135,000
139,359
Series A, 5.00%, 12/1/2036
35,000
37,073
Series A, 5.00%, 12/1/2044
200,000
206,856
 
651,811
RHODE ISLAND — 1.1%
Rhode Island Commerce Corp.
Revenue, RI
Series B, 5.00%, 6/15/2029
150,000
150,298
Security Description
 
Principal
Amount
Value
SOUTH CAROLINA — 0.8%
Richland County School District No.
2, General Obligation, SC
Series A, 5.00%, 3/1/2029
$100,000
$106,486
TENNESSEE — 0.4%
Memphis-Shelby County Industrial
Development Board Revenue, TN
Series B, 5.00%, 11/1/2029
55,000
55,527
TEXAS — 10.0%
Aubrey Independent School District,
General Obligation, TX
Permanent School Fund, 5.00%,
2/15/2029 (a)
300,000
317,128
CNP Utility District, General
Obligation, TX
Build America Mutual Assurance
Corp., 4.00%, 4/1/2035 (a)
225,000
228,239
Metropolitan Transit Authority of
Harris County Sales & Use Tax
Revenue, TX
Series A, 5.00%, 11/1/2029
30,000
30,294
Texas Water Development Board
Revenue, TX
Series B, 5.00%, 4/15/2049
200,000
203,876
Trinity River Authority Central
Regional Wastewater System
Revenue, TX:
5.00%, 8/1/2028
195,000
200,215
5.00%, 8/1/2029
75,000
76,976
University of North Texas System
Revenue, TX
Series A, 5.00%, 4/15/2029
75,000
76,462
Waller County Road Improvement
District No. 1, General Obligation,
TX
Series A, Assured Guaranty, Inc.,
4.00%, 3/1/2037 (a)
225,000
226,568
 
1,359,758
UTAH — 2.1%
State of Utah, General Obligation,
UT
5.00%, 7/1/2029
225,000
239,007
University of Utah Revenue, UT
Series B-1, 5.00%, 8/1/2028
50,000
50,177
 
289,184
VERMONT — 1.8%
Vermont Educational & Health
Buildings Financing Agency
Revenue, VT
5.00%, 11/1/2035
225,000
237,910
VIRGINIA — 0.9%
Virginia Commonwealth
Transportation Board Revenue,
VA
5.00%, 3/15/2029
125,000
125,812
See accompanying notes to Schedule of Investments.
90

STATE STREET MY2029 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
WASHINGTON — 6.9%
City of Kennewick Water & Sewer
Revenue, WA
4.00%, 12/1/2035
$225,000
$229,434
County of King, General Obligation,
WA
5.00%, 1/1/2033
160,000
169,295
King County School District No. 405
Bellevue, General Obligation, WA
School Bond Guaranty, 5.00%,
12/1/2028
200,000
202,403
Pierce County School District No.
403 Bethel, General Obligation,
WA
School Bond Guaranty, 5.00%,
12/1/2033
120,000
127,429
State of Washington, General
Obligation, WA:
Series 2020A, 5.00%, 8/1/2032
55,000
58,697
Series 2020A, 5.00%, 8/1/2038
15,000
15,758
Series 2020-A, 5.00%, 8/1/2036
80,000
84,510
Series C, 5.00%, 2/1/2039
20,000
20,861
Series D, 5.00%, 2/1/2029
25,000
25,402
 
933,789
WEST VIRGINIA — 1.9%
State of West Virginia, General
Obligation, WV
Series A, 5.00%, 12/1/2035
15,000
15,852
West Virginia Commissioner of
Highways Revenue, WV
Series A, 5.00%, 9/1/2029
240,000
246,909
 
262,761
WISCONSIN — 3.4%
State of Wisconsin, General
Obligation, WI
Series B, 5.00%, 5/1/2029
425,000
454,127
TOTAL MUNICIPAL BONDS & NOTES
(Cost $13,338,017)
13,310,918
Security Description
 
Shares
Value
SHORT-TERM INVESTMENT — 0.4%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (b) (c)
(Cost $50,654)
50,654
$50,654
TOTAL INVESTMENTS — 98.6%
(Cost $13,388,671)
13,361,572
OTHER ASSETS IN EXCESS OF LIABILITIES
— 1.4%
194,741
NET ASSETS — 100.0%
$13,556,313
(a)
Bond is insured by the following:
 
% of
Net Assets
Build America Mutual Assurance Corp.
7.0
%
Permanent School Fund Guaranteed
2.3
%
Assured Guaranty, Inc.
1.7
%
(b)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(c)
The rate shown is the annualized seven-day yield at
May 31, 2026.
*
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 May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Municipal Bonds & Notes
$
$13,310,918
$
$13,310,918
Short-Term Investment
50,654
50,654
TOTAL INVESTMENTS
$50,654
$13,310,918
$
$13,361,572
See accompanying notes to Schedule of Investments.
91

STATE STREET MY2029 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier Class
68,054
$68,054
$3,191,687
$3,209,087
$
$
50,654
$50,654
$1,411
See accompanying notes to Schedule of Investments.
92

STATE STREET MY2030 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
MUNICIPAL BONDS & NOTES — 98.3%
ALABAMA — 3.5%
Alabama Highway Finance Corp.
Revenue, AL
Series A, 5.00%, 8/1/2039
$45,000
$47,876
Alabama Public School & College
Authority Revenue, AL:
Series A, 5.00%, 11/1/2034
225,000
243,587
Series A, 5.00%, 11/1/2039
80,000
85,242
Alabama State University Revenue,
AL
Assured Guaranty, Inc., 5.00%,
9/1/2029 (a)
50,000
53,133
 
429,838
ARIZONA — 2.3%
City of Phoenix Civic Improvement
Corp. Revenue, AZ:
5.00%, 7/1/2030
55,000
55,104
Series A, 5.00%, 7/1/2049
220,000
224,670
 
279,774
CALIFORNIA — 4.6%
Los Angeles Department of Water &
Power Revenue, CA
Series B, 5.00%, 7/1/2030
450,000
473,455
San Rafael City High School District,
General Obligation, CA
Series A, 4.00%, 8/1/2041
90,000
91,044
 
564,499
COLORADO — 3.4%
City of Colorado Springs Utilities
System Revenue, CO
Series A-1, 5.00%, 11/15/2030
55,000
56,781
Jefferson County School District R-1,
General Obligation, CO
State Aid Withholding, 5.00%,
12/15/2030
100,000
103,438
University of Colorado Revenue, CO
Series B, 5.00%, 6/1/2030
240,000
261,495
 
421,714
CONNECTICUT — 3.1%
State of Connecticut Special Tax
Revenue, CT:
Series A, 5.00%, 1/1/2030
60,000
62,192
Series A, 5.00%, 9/1/2030
50,000
50,276
Series A, 5.00%, 5/1/2037
255,000
271,499
 
383,967
DELAWARE — 1.3%
Delaware Transportation Authority
Revenue, DE
5.00%, 9/1/2034
135,000
145,263
Security Description
 
Principal
Amount
Value
State of Delaware, General
Obligation, DE
4.00%, 3/1/2030
$10,000
$10,102
 
155,365
FLORIDA — 2.3%
Central Florida Expressway Authority
Revenue, FL
Series B, 4.00%, 7/1/2030
35,000
35,024
City of North Miami Beach Water
Revenue, FL
Series A, 5.00%, 8/1/2049
100,000
101,962
County of Orange Water Utility
System Revenue, FL
5.00%, 10/1/2037
55,000
58,906
State of Florida Department of
Transportation Revenue, FL
5.00%, 7/1/2030
90,000
94,340
 
290,232
GEORGIA — 0.1%
Private Colleges & Universities
Authority Revenue, GA
Series B, 5.00%, 9/1/2031
15,000
16,312
HAWAII — 2.4%
City & County of Honolulu, General
Obligation, HI:
Series A, 5.00%, 10/1/2029
190,000
191,471
Series A, 5.00%, 9/1/2030
100,000
105,109
 
296,580
IDAHO — 1.8%
Idaho State Building Authority
Revenue, ID
Series 2025A, 5.00%, 6/1/2030
200,000
218,334
ILLINOIS — 5.1%
City of Chicago Waterworks
Revenue, IL
Build America Mutual Assurance
Corp., 5.00%, 11/1/2030 (a)
275,000
277,568
Illinois State Toll Highway Authority
Revenue, IL
Series B, 5.00%, 1/1/2030
100,000
100,173
Kane County Community Unit School
District No. 304 Geneva, General
Obligation, IL
5.00%, 1/1/2030
55,000
55,743
State of Illinois, General Obligation,
IL
Series B, 5.00%, 5/1/2030
190,000
204,322
 
637,806
INDIANA — 0.1%
Indiana University Revenue, IN
Series A, 5.00%, 6/1/2032
15,000
16,271
IOWA — 2.4%
Iowa Finance Authority Revenue, IA:
Series A, 5.00%, 8/1/2034
105,000
113,493
See accompanying notes to Schedule of Investments.
93

STATE STREET MY2030 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Series A, 5.00%, 8/1/2040
$170,000
$180,630
 
294,123
KENTUCKY — 0.7%
Kentucky State Property & Building
Commission Revenue, KY:
5.00%, 4/1/2030
45,000
45,838
5.00%, 5/1/2030
40,000
41,718
 
87,556
MASSACHUSETTS — 0.3%
Massachusetts Development
Finance Agency Revenue, MA
Series S, 5.00%, 7/1/2030
40,000
40,960
MICHIGAN — 4.4%
Great Lakes Water Authority Water
Supply System Revenue, MI
Series D, 5.00%, 7/1/2030
300,000
300,547
Harrison Community Schools,
General Obligation, MI
Series III, Qualified School Bond
Loan Fund, 4.00%, 5/1/2038
225,000
229,073
L'Anse Creuse Public Schools,
General Obligation, MI
Series I, Qualified School Bond
Loan Fund, 5.00%, 5/1/2030
20,000
21,692
 
551,312
MINNESOTA — 3.8%
Minneapolis-St. Paul Metropolitan
Airports Commission Revenue,
MN:
Series A, 5.00%, 1/1/2030
65,000
65,903
Series C, 5.00%, 1/1/2030
135,000
136,859
Minnesota Public Facilities Authority
State Revolving Fund Revenue,
MN
Series A, 5.00%, 3/1/2030
150,000
163,108
Roseville Independent School
District No. 623, General
Obligation, MN
Series A, School District Credit
Enhancement Program, 5.00%,
2/1/2030
50,000
50,773
State of Minnesota, General
Obligation, MN
Series A, 5.00%, 8/1/2040
10,000
10,631
University of Minnesota Revenue,
MN
Series B, 5.00%, 12/1/2030
45,000
46,557
 
473,831
MISSISSIPPI — 1.6%
Mississippi Development Bank
Revenue, MS
4.00%, 10/1/2036
200,000
202,337
Security Description
 
Principal
Amount
Value
MISSOURI — 2.2%
City of Kansas City, General
Obligation, MO
Series A, 5.00%, 2/1/2030
$150,000
$162,222
St. Louis County School District C-2
Parkway, General Obligation, MO
Series C, 5.00%, 3/1/2037
105,000
111,691
 
273,913
NEBRASKA — 1.4%
Elkhorn School District, General
Obligation, NE
5.00%, 12/15/2030
160,000
171,928
NEVADA — 1.8%
Clark County School District,
General Obligation, NV
Series A, Assured Guaranty, Inc.,
5.00%, 6/15/2035 (a)
210,000
224,695
NEW JERSEY — 2.3%
New Jersey Transportation Trust
Fund Authority Revenue, NJ
Series A-1, 5.00%, 6/15/2030
280,000
280,362
NEW MEXICO — 1.3%
New Mexico Finance Authority
Revenue, NM
Series A, 5.00%, 6/15/2030
150,000
156,624
NEW YORK — 8.1%
City of New York, General
Obligation, NY
Series A-1, 5.00%, 8/1/2030
310,000
335,999
Empire State Development Corp.
Revenue, NY
Series C, 5.00%, 3/15/2038
265,000
283,854
New York State Dormitory Authority
Revenue, NY
Series A, 5.00%, 2/15/2030
15,000
15,068
New York State Thruway Authority
Revenue, NY
Series N, 5.00%, 1/1/2040
50,000
52,593
New York Transportation
Development Corp. Revenue, NY
Series C, 5.00%, 12/1/2037
300,000
317,005
 
1,004,519
NORTH CAROLINA — 1.7%
City of Charlotte Water & Sewer
System Revenue, NC
5.00%, 7/1/2030
190,000
208,113
OHIO — 3.3%
Ohio Higher Educational Facility
Commission Revenue, OH
5.00%, 10/1/2033
80,000
82,845
Ohio Water Development Authority
Water Pollution Control Loan Fund
Revenue, OH:
Series A, 5.00%, 6/1/2033
250,000
270,502
See accompanying notes to Schedule of Investments.
94

STATE STREET MY2030 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Series A, 5.00%, 12/1/2036
$50,000
$53,494
 
406,841
OKLAHOMA — 3.2%
Grand River Dam Authority
Revenue, OK
Series A, 5.00%, 6/1/2030
140,000
141,499
Oklahoma Capitol Improvement
Authority Revenue, OK
5.00%, 7/1/2030
260,000
260,474
 
401,973
OREGON — 2.0%
City of Portland Sewer System
Revenue, OR
Series A, 5.00%, 10/1/2030
120,000
131,687
Hillsboro School District No. 1J,
General Obligation, OR
School Bond Guaranty, 5.00%,
6/15/2030
55,000
56,296
State of Oregon Department of
Transportation Revenue, OR
Series A, 5.00%, 11/15/2042
60,000
62,827
 
250,810
PENNSYLVANIA — 5.2%
City of Philadelphia Water &
Wastewater Revenue, PA
Series A, 5.00%, 11/1/2039
240,000
255,098
Pennsylvania Turnpike Commission
Revenue, PA:
Series 2ND, 5.00%, 12/1/2030
250,000
257,876
Series A, 5.00%, 12/1/2044
130,000
134,456
 
647,430
SOUTH CAROLINA — 0.8%
Clemson University Revenue, SC
Series A, 5.00%, 5/1/2030
90,000
97,805
TENNESSEE — 1.1%
Memphis-Shelby County Industrial
Development Board Revenue, TN
Series B, 5.00%, 11/1/2030
50,000
50,469
Metropolitan Knoxville Airport
Authority Revenue, TN
Series A, 5.00%, 6/1/2030
75,000
81,245
 
131,714
TEXAS — 8.2%
Brazosport Independent School
District, General Obligation, TX
Permanent School Fund, 5.00%,
2/15/2030 (a)
135,000
143,206
Central Texas Turnpike System
Revenue, TX
Series A, 5.00%, 8/15/2039
60,000
63,044
City of Dallas, General Obligation,
TX
5.00%, 2/15/2030
290,000
294,557
Security Description
 
Principal
Amount
Value
Dallas Fort Worth International
Airport Revenue, TX
5.00%, 11/1/2031
$75,000
$81,689
Forney Independent School District,
General Obligation, TX
Permanent School Fund, 5.00%,
2/15/2030 (a)
85,000
90,029
Harris County Cultural Education
Facilities Finance Corp. Revenue,
TX
5.00%, 11/15/2030
60,000
61,792
Harris County Municipal Utility
District No. 559, General
Obligation, TX
Build America Mutual Assurance
Corp., 4.00%, 9/1/2035 (a)
20,000
20,259
Hays Consolidated Independent
School District, General
Obligation, TX
Permanent School Fund, 5.00%,
2/15/2030 (a)
50,000
50,847
Lower Colorado River Authority
Revenue, TX
5.00%, 5/15/2038
30,000
31,664
Texas Water Development Board
Revenue, TX
Series A, 5.00%, 4/15/2030
165,000
177,542
 
1,014,629
UTAH — 0.5%
Central Utah Water Conservancy
District Revenue, UT
Series D, 5.00%, 10/1/2036
20,000
21,449
Utah Associated Municipal Power
Systems Revenue, UT
Series A, 5.00%, 9/1/2030
35,000
36,191
 
57,640
VIRGINIA — 1.1%
Virginia College Building Authority
Revenue, VA
Series C, 5.00%, 2/1/2030
130,000
134,264
WASHINGTON — 8.9%
Chelan County Public Utility District
No. 1 Revenue, WA
Series A, 4.00%, 7/1/2036
265,000
270,834
City of Seattle Municipal Light &
Power Revenue, WA
Series C, 5.00%, 9/1/2030
115,000
118,340
County of King, General Obligation,
WA
Series A, 5.00%, 12/1/2042
200,000
211,520
King County School District No. 405
Bellevue, General Obligation, WA
School Bond Guaranty, 5.00%,
12/1/2030
165,000
167,024
See accompanying notes to Schedule of Investments.
95

STATE STREET MY2030 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Washington Health Care Facilities
Authority Revenue, WA:
5.00%, 9/1/2035
$145,000
$154,435
Series A2, 5.00%, 8/1/2037
175,000
181,519
 
1,103,672
WISCONSIN — 2.0%
Platteville School District, General
Obligation, WI
4.00%, 3/1/2041
225,000
226,951
State of Wisconsin, General
Obligation, WI
Series 2021-2, 5.00%, 5/1/2035
25,000
26,922
 
253,873
TOTAL MUNICIPAL BONDS & NOTES
(Cost $12,185,647)
12,181,616
 
 
Shares
 
SHORT-TERM INVESTMENT — 0.2%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (b) (c)
(Cost $29,739)
29,739
29,739
TOTAL INVESTMENTS — 98.5%
(Cost $12,215,386)
12,211,355
OTHER ASSETS IN EXCESS OF LIABILITIES
— 1.5%
181,948
NET ASSETS — 100.0%
$12,393,303
(a)
Bond is insured by the following:
 
% of
Net Assets
Build America Mutual Assurance Corp.
2.4
%
Permanent School Fund Guaranteed
2.3
%
Assured Guaranty, Inc.
2.2
%
(b)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(c)
The rate shown is the annualized seven-day yield at
May 31, 2026.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Municipal Bonds & Notes
$
$12,181,616
$
$12,181,616
Short-Term Investment
29,739
29,739
TOTAL INVESTMENTS
$29,739
$12,181,616
$
$12,211,355
Affiliate Table
 
Number of
Shares Held
at
8/31/25
Value at
8/31/25
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier Class
35,907
$35,907
$939,007
$945,175
$
$
29,739
$29,739
$1,104
See accompanying notes to Schedule of Investments.
96

STATE STREET MY2031 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
MUNICIPAL BONDS & NOTES — 98.5%
ALABAMA — 2.8%
Alabama Public School & College
Authority Revenue, AL
Series A, 5.00%, 11/1/2034
$255,000
$276,065
CALIFORNIA — 8.4%
California State Public Works Board
Revenue, CA
Series B, 5.00%, 5/1/2033
360,000
396,473
Los Angeles Department of Water &
Power Revenue, CA
Series C, 5.00%, 7/1/2039
350,000
371,578
Lucia Mar Unified School District,
General Obligation, CA
Series D, 5.25%, 8/1/2047
50,000
52,991
State of California, General
Obligation, CA
5.00%, 11/1/2035
15,000
16,320
 
837,362
COLORADO — 0.3%
Boulder Larimer & Weld Counties St.
Vrain Valley School District Re1J,
General Obligation, CO
Series C, State Aid Withholding,
5.00%, 12/15/2031
30,000
30,388
CONNECTICUT — 2.8%
State of Connecticut Special Tax
Revenue, CT
Series A, 5.00%, 5/1/2041
265,000
282,424
DELAWARE — 2.2%
Delaware Transportation Authority
Revenue, DE
5.00%, 7/1/2032
200,000
217,183
FLORIDA — 5.4%
Central Florida Expressway Authority
Revenue, FL
Series D, 5.00%, 7/1/2032
55,000
60,788
County of Miami-Dade Water &
Sewer System Revenue, FL
5.00%, 10/1/2031
75,000
78,797
County of Miami-Dade, General
Obligation, FL
Series A, 5.00%, 7/1/2031
170,000
170,281
JEA Water & Sewer System
Revenue, FL
Series A, 5.00%, 10/1/2031
180,000
184,591
School Board of Miami-Dade County,
General Obligation, FL
5.00%, 3/15/2031
45,000
45,789
 
540,246
GEORGIA — 2.6%
Henry County School District,
General Obligation, GA
State Aid Withholding, 4.00%,
8/1/2031
225,000
238,729
Security Description
 
Principal
Amount
Value
Metropolitan Atlanta Rapid Transit
Authority Revenue, GA
Series B, 5.00%, 7/1/2031
$25,000
$25,046
 
263,775
HAWAII — 0.3%
City & County of Honolulu, General
Obligation, HI
Series D, 5.00%, 9/1/2031
25,000
25,689
IDAHO — 1.9%
Idaho Housing & Finance
Association Revenue, ID
Series A, 5.00%, 7/15/2031
175,000
186,662
ILLINOIS — 4.4%
Illinois State Toll Highway Authority
Revenue, IL
Series A, 5.00%, 1/1/2031
85,000
89,767
State of Illinois, General Obligation,
IL:
Series A, 5.00%, 3/1/2033
125,000
134,560
Series B, 5.00%, 5/1/2031
200,000
217,529
 
441,856
INDIANA — 5.2%
Indiana Finance Authority Revenue,
IN:
Series 1, 5.00%, 10/1/2033
115,000
126,606
Series 1, 5.00%, 10/1/2037
20,000
21,554
Indiana Municipal Power Agency
Revenue, IN
Series A, 5.00%, 1/1/2031
40,000
41,352
Indianapolis Local Public
Improvement Bond Bank
Revenue, IN
Series A, 5.00%, 6/1/2034
300,000
325,907
 
515,419
IOWA — 3.4%
Iowa Finance Authority Revenue, IA:
Series A, 5.00%, 8/1/2031
110,000
115,387
Series A, 5.00%, 8/1/2039
210,000
226,331
 
341,718
KANSAS — 4.6%
Johnson County Unified School
District No. 233 Olathe, General
Obligation, KS
Series A, 5.00%, 9/1/2037
270,000
290,448
State of Kansas Department of
Transportation Revenue, KS
Series A, 5.00%, 9/1/2030
160,000
164,661
 
455,109
LOUISIANA — 2.5%
State of Louisiana Revenue, LA
Series A, 5.00%, 9/1/2031
240,000
251,099
See accompanying notes to Schedule of Investments.
97

STATE STREET MY2031 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
MARYLAND — 1.0%
State of Maryland, General
Obligation, MD:
Series A, 5.00%, 3/1/2032
$65,000
$71,576
Series A, 5.00%, 3/1/2036
25,000
27,124
 
98,700
MASSACHUSETTS — 1.1%
Commonwealth of Massachusetts,
General Obligation, MA
Series B, 5.00%, 1/1/2031
25,000
25,935
Massachusetts Clean Water Trust
Revenue, MA
Series 23A, 5.00%, 2/1/2034
20,000
21,893
Massachusetts School Building
Authority Revenue, MA
Series A, 5.00%, 8/15/2037
55,000
59,086
 
106,914
MICHIGAN — 0.8%
State of Michigan Trunk Line
Revenue, MI
Series B, 5.00%, 11/15/2035
70,000
76,805
MINNESOTA — 3.1%
County of Hennepin Sales Tax
Revenue, MN
5.00%, 12/15/2030
200,000
202,242
Minneapolis-St. Paul Metropolitan
Airports Commission Revenue,
MN
Series A, 5.00%, 1/1/2031
95,000
96,277
State of Minnesota, General
Obligation, MN
Series B, 4.00%, 8/1/2031
15,000
15,388
 
313,907
MISSOURI — 0.6%
Kansas City Industrial Development
Authority Revenue, MO
Series C, 5.00%, 3/1/2031
60,000
63,305
NEBRASKA — 0.6%
Omaha School District, General
Obligation, NE
5.00%, 12/15/2031
60,000
60,640
NEVADA — 4.2%
State of Nevada Highway
Improvement Revenue, NV
5.00%, 12/1/2031
105,000
107,372
Truckee Meadows Water Authority
Revenue, NV
5.00%, 7/1/2031
315,000
315,574
 
422,946
NEW JERSEY — 2.2%
New Jersey Economic Development
Authority Revenue, NJ
Series A, 5.00%, 11/1/2031
105,000
112,214
Security Description
 
Principal
Amount
Value
New Jersey Transportation Trust
Fund Authority Revenue, NJ
Series BB, 5.00%, 6/15/2035
$45,000
$49,080
New Jersey Turnpike Authority
Revenue, NJ
Series A, 5.00%, 1/1/2031
60,000
60,785
 
222,079
NEW MEXICO — 3.1%
County of Santa Fe Revenue, NM
Series A, 2.25%, 6/1/2031
330,000
313,765
NEW YORK — 4.0%
Empire State Development Corp.
Revenue, NY
Series C-2, 5.00%, 3/15/2031
30,000
30,848
New York State Dormitory Authority
Revenue, NY
Series A, Assured Guaranty, Inc.,
State Aid Withholding, 5.00%,
10/1/2034 (a)
105,000
115,539
New York State Dormitory Authority
Revenue, NY:
Series A, Build America Mutual
Assurance Corp., 5.00%,
10/1/2035 (a)
130,000
140,332
Series D, Assured Guaranty, Inc.,
State Aid Withholding, 5.00%,
10/1/2036 (a)
100,000
109,123
 
395,842
NORTH CAROLINA — 0.1%
State of North Carolina Revenue, NC
5.00%, 3/1/2033
10,000
10,912
OHIO — 3.0%
City of Columbus, General
Obligation, OH
Series A, 5.00%, 4/1/2034
165,000
179,256
Ohio Water Development Authority
Water Pollution Control Loan Fund
Revenue, OH
Series A, 5.00%, 12/1/2040
115,000
124,023
 
303,279
OKLAHOMA — 0.5%
Grand River Dam Authority
Revenue, OK
Series A, 5.00%, 6/1/2031
50,000
50,528
OREGON — 0.8%
Lane County School District No. 4J
Eugene, General Obligation, OR
School Bond Guaranty, 5.00%,
6/15/2031
55,000
56,222
See accompanying notes to Schedule of Investments.
98

STATE STREET MY2031 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
Security Description
 
Principal
Amount
Value
Multnomah & Clackamas Counties
School District No. 10JT
Gresham-Barlow, General
Obligation, OR
Series B, School Bond Guaranty,
5.00%, 6/15/2031
$25,000
$25,555
 
81,777
PENNSYLVANIA — 3.9%
Pennsylvania Turnpike Commission
Revenue, PA:
Series A, 5.00%, 12/1/2035
135,000
146,874
Series B, 5.00%, 12/1/2033
100,000
109,330
Series B, 5.00%, 12/1/2034
35,000
38,198
Series B, 5.00%, 12/1/2035
90,000
97,916
 
392,318
TENNESSEE — 2.1%
Metropolitan Nashville Airport
Authority Revenue, TN
Series A, 5.00%, 7/1/2031
100,000
110,287
State of Tennessee, General
Obligation, TN
Series A, 5.00%, 2/1/2031
100,000
103,889
 
214,176
TEXAS — 10.5%
City of Dallas, General Obligation,
TX
5.00%, 2/15/2031
25,000
25,382
City of Houston, General Obligation,
TX
Series A, 5.00%, 3/1/2031
40,000
40,628
Clear Creek Independent School
District, General Obligation, TX
Permanent School Fund, 5.00%,
2/15/2032 (a)
60,000
65,754
County of Harris Toll Road Revenue,
TX
Series A, 5.00%, 8/15/2031
400,000
414,837
County of Tarrant, General
Obligation, TX
5.00%, 7/15/2034
15,000
16,372
Lower Colorado River Authority
Revenue, TX:
5.00%, 5/15/2035
50,000
54,050
5.00%, 5/15/2037
75,000
80,392
Series A, 5.00%, 5/15/2046
25,000
25,804
Texas State University System
Revenue, TX
Series A, 5.00%, 3/15/2031
110,000
111,930
Texas Water Development Board
Revenue, TX
5.00%, 8/1/2031
205,000
210,509
 
1,045,658
Security Description
 
Principal
Amount
Value
WASHINGTON — 5.0%
Energy Northwest Revenue, WA
Series A, 5.00%, 7/1/2035
$220,000
$236,737
State of Washington, General
Obligation, WA:
Series C, 5.00%, 2/1/2031
50,000
51,951
Series C, 5.00%, 2/1/2035
195,000
212,058
 
500,746
WEST VIRGINIA — 1.0%
West Virginia Parkways Authority
Revenue, WV
5.00%, 6/1/2036
95,000
102,944
WISCONSIN — 4.1%
University of Wisconsin Hospitals &
Clinics Revenue, WI
Series A, 5.00%, 4/1/2031
375,000
410,907
TOTAL MUNICIPAL BONDS & NOTES
(Cost $9,917,462)
9,853,143
 
 
Shares
 
SHORT-TERM INVESTMENT — 0.2%
State Street Institutional Treasury
Plus Money Market Fund -
Premier Class 3.57% (b) (c)
(Cost $19,874)
19,874
19,874
TOTAL INVESTMENTS — 98.7%
(Cost $9,937,336)
9,873,017
OTHER ASSETS IN EXCESS OF LIABILITIES
— 1.3%
134,264
NET ASSETS — 100.0%
$10,007,281
(a)
Bond is insured by the following:
 
% of
Net Assets
Assured Guaranty, Inc.
2.2
%
Build America Mutual Assurance Corp.
1.4
%
Permanent School Fund Guaranteed
0.7
%
(b)
The Fund invested in certain money market funds managed
by SSGA Funds Management, Inc. Amounts related to
these investments during the period ended May 31, 2026
are shown in the Affiliate Table below.
(c)
The rate shown is the annualized seven-day yield at
May 31, 2026.
See accompanying notes to Schedule of Investments.
99

STATE STREET MY2031 MUNICIPAL BOND ETF
SCHEDULE OF INVESTMENTS (continued)
May 31, 2026 (Unaudited)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2026.
Description
Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:
INVESTMENTS:
Municipal Bonds & Notes
$
$9,853,143
$
$9,853,143
Short-Term Investment
19,874
19,874
TOTAL INVESTMENTS
$19,874
$9,853,143
$
$9,873,017
Affiliate Table
 
Number of
Shares Held
at
9/17/25*
Value at
9/17/25*
Cost of
Purchases
Proceeds
from
Shares Sold
Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at
5/31/26
Value at
5/31/26
Dividend
Income
State Street Institutional Treasury Plus Money Market Fund - Premier Class
$
$2,242,043
$2,222,169
$
$
19,874
$19,874
$1,282
*
Commencement of operations.
See accompanying notes to Schedule of Investments.
100

SSGA ACTIVE TRUST
NOTES TO SCHEDULES OF INVESTMENTS
May 31, 2026 (Unaudited)
Security Valuation
Each Fund's investments are valued at fair value each day that the New York Stock Exchange (“NYSE”) is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the NYSE is not open. Fair value is generally defined as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. By its nature, a fair value price is a good faith estimate of the valuation in a current sale and may not reflect an actual market price. The investments of each Fund are valued pursuant to the policy and procedures developed by the Oversight Committee (the “Committee”) and approved by the Board. The Committee provides oversight of the valuation of investments for the Funds. The Board has responsibility for overseeing the determination of the fair value of investments.
Valuation techniques used to value each Fund’s investments by major category are as follows:
• 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.
• Fixed income assets are generally valued at the mean of the bid and ask prices for bank loans and inflation protected securities, and at the bid price for all other fixed income assets as provided by independent pricing services or brokers.
In the event prices or quotations are not readily available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with the valuation policy and procedures approved by the Board.
Fair value pricing could result in a difference between the prices used to calculate a Fund's NAV and the prices used by the Funds' underlying benchmark. Various inputs are used in determining the value of the 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 May 31, 2026, is disclosed in each Fund's respective Schedule of Investments.
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 May 31, 2026, are disclosed in the Funds' respective Schedules of Investments.
101

SSGA ACTIVE TRUST
NOTES TO SCHEDULES OF INVESTMENTS(continued)
May 31, 2026 (Unaudited)
Subsequent Events
Management has evaluated the impact of all subsequent events on the Funds through the date on which the Form N-PORT filing was issued and has determined that there were no subsequent events requiring adjustment or disclosure in the Form N-PORT filing.
102