-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, T5FL6DAACe22VG8eG0+fGeF3NnjMxkMRgpwxngTMxAh5fIXjiLX5cb0/pBlR7pl+ AYXOz3KkwN0kR7LuWIakyA== 0000950135-09-001454.txt : 20090302 0000950135-09-001454.hdr.sgml : 20090302 20090302155408 ACCESSION NUMBER: 0000950135-09-001454 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20081231 FILED AS OF DATE: 20090302 DATE AS OF CHANGE: 20090302 EFFECTIVENESS DATE: 20090302 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPDR INDEX SHARES FUNDS (Formerly streetTRACKS Index Shares Funds) CENTRAL INDEX KEY: 0001168164 IRS NUMBER: 421537593 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-21145 FILM NUMBER: 09647402 BUSINESS ADDRESS: STREET 1: ONE LINCOLN STREET STREET 2: CPH0326 CITY: BOSTON STATE: MA ZIP: 02111 BUSINESS PHONE: 866-787-2257 MAIL ADDRESS: STREET 1: ONE LINCOLN STREET STREET 2: CPH0326 CITY: BOSTON STATE: MA ZIP: 02111 FORMER COMPANY: FORMER CONFORMED NAME: STREETTRACKS INDEX SHARES FUNDS (Formerly Fresco Index Shares Funds) DATE OF NAME CHANGE: 20041202 FORMER COMPANY: FORMER CONFORMED NAME: FRESCO INDEX SHARES FUNDS DATE OF NAME CHANGE: 20020225 0001168164 S000006391 SPDR(R) DJ STOXX 50(R) ETF C000017549 SPDR(R) DJ STOXX 50(R) ETF FEU 0001168164 S000006392 SPDR(R) DJ EURO STOXX 50(R) ETF C000017550 SPDR(R) DJ EURO STOXX 50(R) ETF FEZ 0001168164 S000014037 SPDR(R) S&P(R) EMERGING MIDDLE EAST & AFRICA ETF C000038336 SPDR(R) S&P(R) EMERGING MIDDLE EAST & AFRICA ETF 0001168164 S000014038 SPDR(R) S&P(R) World ex-US ETF C000038337 SPDR(R) S&P(R) World ex-US ETF 0001168164 S000014039 SPDR(R) S&P(R) International Small Cap ETF C000038338 SPDR(R) S&P(R) International Small Cap ETF 0001168164 S000014040 SPDR(R) DJ WILSHIRE INTERNATIONAL REAL ESTATE ETF C000038339 SPDR(R) DJ WILSHIRE INTERNATIONAL REAL ESTATE ETF 0001168164 S000014041 SPDR(R) FTSE/MACQUARIE GLOBAL INFRASTRUCTURE 100 ETF C000038340 SPDR(R) FTSE/MACQUARIE GLOBAL INFRASTRUCTURE 100 ETF 0001168164 S000014042 SPDR(R) MSCI ACWI EX-US ETF C000038341 SPDR(R) MSCI ACWI EX-US ETF 0001168164 S000014043 SPDR(R) RUSSELL/NOMURA PRIME(TM) JAPAN ETF C000038342 SPDR(R) RUSSELL/NOMURA PRIME(TM) JAPAN ETF 0001168164 S000014044 SPDR(R) RUSSELL/NOMURA SMALL CAP(TM) JAPAN ETF C000038343 SPDR(R) RUSSELL/NOMURA SMALL CAP(TM) JAPAN ETF 0001168164 S000014046 SPDR(R) S&P(R) EMERGING ASIA PACIFIC ETF C000038345 SPDR(R) S&P(R) EMERGING ASIA PACIFIC ETF 0001168164 S000014047 SPDR(R) S&P(R) CHINA ETF C000038346 SPDR(R) S&P(R) CHINA ETF 0001168164 S000014048 SPDR(R) S&P(R) EMERGING MARKETS ETF C000038347 SPDR(R) S&P(R) EMERGING MARKETS ETF 0001168164 S000014049 SPDR(R) S&P(R) BRIC 40 ETF C000038348 SPDR(R) S&P(R) BRIC 40 ETF 0001168164 S000014051 SPDR(R) S&P(R) EMERGING EUROPE ETF C000038350 SPDR(R) S&P(R) EMERGING EUROPE ETF 0001168164 S000014052 SPDR(R) S&P(R) EMERGING LATIN AMERICA ETF C000038351 SPDR(R) S&P(R) EMERGING LATIN AMERICA ETF 0001168164 S000020665 SPDR (R) S&P (R) International Dividend ETF C000057694 SPDR (R) S&P (R) International Dividend ETF DWX 0001168164 S000021246 SPDR(R) S&P(R) INTERNATIONAL MID CAP ETF C000060581 SPDR(R) S&P(R) INTERNATIONAL MID CAP ETF 0001168164 S000021247 SPDR(R) S&P(R) EMERGING MARKETS SMALL CAP ETF C000060582 SPDR(R) S&P(R) EMERGING MARKETS SMALL CAP ETF 0001168164 S000021764 SPDR(R) DJ Wilshire Global Real Estate ETF C000062489 SPDR(R) DJ Wilshire Global Real Estate ETF 0001168164 S000022741 SPDR(R) S&P(R) International Consumer Discretionary Sector ETF C000065794 SPDR(R) S&P(R) International Consumer Discretionary Sector ETF 0001168164 S000022742 SPDR(R) S&P(R) International Utilities Sector ETF C000065795 SPDR(R) S&P(R) International Utilities Sector ETF 0001168164 S000022743 SPDR(R) S&P(R) International Consumer Staples Sector ETF C000065796 SPDR(R) S&P(R) International Consumer Staples Sector ETF 0001168164 S000022744 SPDR(R) S&P(R) International Energy Sector ETF C000065797 SPDR(R) S&P(R) International Energy Sector ETF 0001168164 S000022745 SPDR(R) S&P(R) International Financial Sector ETF C000065798 SPDR(R) S&P(R) International Financial Sector ETF 0001168164 S000022746 SPDR(R) S&P(R) International Health Care Sector ETF C000065799 SPDR(R) S&P(R) International Health Care Sector ETF 0001168164 S000022747 SPDR(R) S&P(R) International Industrial Sector ETF C000065800 SPDR(R) S&P(R) International Industrial Sector ETF 0001168164 S000022748 SPDR(R) S&P(R) International Materials Sector ETF C000065801 SPDR(R) S&P(R) International Materials Sector ETF 0001168164 S000022749 SPDR(R) S&P(R) International Technology Sector ETF C000065802 SPDR(R) S&P(R) International Technology Sector ETF 0001168164 S000022750 SPDR(R) S&P(R) International Telecommunications Sector ETF C000065803 SPDR(R) S&P(R) International Telecommunications Sector ETF N-Q 1 b73769a1nvq.txt SPDR INDEX SHARES FUNDS ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-21145 ---------------------------------------------------- SPDR(R) INDEX SHARES FUNDS - -------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) STATE STREET FINANCIAL CENTER ONE LINCOLN STREET BOSTON, MASSACHUSETTS 02110 - -------------------------------------------------------------------------------- (Address of principal executive offices)(Zip code) (Name and Address of Agent for Service) Copy to: James E. Ross Ryan Louvar President Vice President and Senior Counsel SSgA Funds Management Inc. State Street Bank and Trust Company State Street Financial Center One Lincoln Street/CPH0326 One Lincoln Street Boston, MA 02111 Boston, MA 02111 Registrant's telephone number, including area code: (866) 787-2257 Date of fiscal year end: September 30 Date of reporting period: December 31, 2008 ================================================================================ ITEM 1. SCHEDULE OF INVESTMENTS. SPDR DJ STOXX 50 ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- COMMON STOCKS -- 99.7% FINLAND -- 2.2% Nokia Oyj..................... 73,223 $ 1,129,798 ----------- FRANCE -- 14.6% AXA........................... 32,160 708,335 BNP Paribas SA................ 16,536 695,322 France Telecom SA............. 36,589 1,015,176 GDF Suez...................... 24,906 1,222,971 Sanofi-Aventis................ 19,926 1,257,495 Societe Generale.............. 11,181 559,517 Total SA...................... 40,479 2,189,380 ----------- TOTAL FRANCE.................. 7,648,196 ----------- GERMANY -- 14.3% Allianz SE.................... 8,713 908,362 BASF SE....................... 17,704 682,419 Bayer AG...................... 14,730 850,754 Daimler AG.................... 17,169 637,216 Deutsche Bank AG.............. 10,996 425,381 Deutsche Telekom AG........... 57,368 857,252 E.ON AG....................... 35,563 1,405,912 SAP AG........................ 16,832 590,548 Siemens AG.................... 15,730 1,151,873 ----------- TOTAL GERMANY................. 7,509,717 ----------- ITALY -- 5.6% Assicurazioni Generali SpA.... 22,905 620,544 Eni SpA....................... 46,938 1,092,220 Intesa Sanpaolo SpA........... 172,343 607,897 UniCredit SpA................. 257,048 623,505 ----------- TOTAL ITALY................... 2,944,166 ----------- LUXEMBOURG -- 0.7% ArcelorMittal (a)............. 14,269 339,370 ----------- NETHERLANDS -- 2.9% Fortis VVPR Strip (b)......... 33,296 46 ING Groep NV.................. 40,054 408,113 Koninklijke (Royal) Philips Electronics NV.............. 19,472 374,337 Unilever NV................... 30,282 729,892 ----------- TOTAL NETHERLANDS............. 1,512,388 ----------- SPAIN -- 8.9% Banco Bilbao Vizcaya Argentaria SA............... 68,583 825,590 Banco Santander SA............ 153,980 1,444,768 Iberdrola SA.................. 70,429 640,265 Telefonica SA................. 79,026 1,741,123 ----------- TOTAL SPAIN................... 4,651,746 ----------- SWEDEN -- 0.8% Telefonaktiebolaget LM Ericsson (Class B).......... 57,489 427,463 ----------- SWITZERLAND -- 17.7% ABB, Ltd.(b).................. 44,741 654,921 Credit Suisse Group AG........ 20,773 556,237 Nestle SA..................... 73,773 2,883,409 Novartis AG................... 47,143 2,334,228 Roche Holding AG.............. 13,533 2,066,155 UBS AG (b).................... 56,490 787,628 ----------- TOTAL SWITZERLAND............. 9,282,578 ----------- UNITED KINGDOM -- 32.0% Anglo American PLC............ 25,849 574,562 AstraZeneca PLC............... 27,997 1,129,893 Barclays PLC.................. 161,236 355,607 BHP Billiton PLC.............. 42,975 799,528 BP PLC........................ 361,509 $ 2,733,936 British American Tobacco PLC.. 38,996 1,009,197 Diageo PLC.................... 48,179 665,679 GlaxoSmithKline PLC........... 110,076 2,032,873 HSBC Holdings PLC............. 231,546 2,203,834 Rio Tinto PLC................. 19,340 414,311 Royal Bank of Scotland Group PLC......................... 319,804 227,140 Royal Dutch Shell PLC (Class A).......................... 69,277 1,805,596 Tesco PLC..................... 151,337 783,305 Vodafone Group PLC............ 1,017,149 2,032,745 ----------- TOTAL UNITED KINGDOM.......... 16,768,206 ----------- TOTAL COMMON STOCKS -- (Cost $90,678,118).......... 52,213,628 ----------- SHORT TERM INVESTMENTS -- 1.2% UNITED STATES -- 1.2% MONEY MARKET FUNDS -- 1.2% State Street Navigator Securities Lending Prime Portfolio (c)(d)............ 25,395 25,395 STIC Prime Portfolio.......... 636,601 636,601 ----------- TOTAL SHORT TERM INVESTMENTS -- (Cost $661,996)............. 661,996 ----------- TOTAL INVESTMENTS -- 100.9% (Cost $91,340,114).......... 52,875,624 OTHER ASSETS AND LIABILITIES -- (0.9)%....... (493,897) ----------- NET ASSETS -- 100.0%.......... $52,381,727 ===========
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Non-income producing security. (c) Affiliated Fund managed by SSgA Funds Management, Inc. (d) Investments of cash collateral for securities loaned. SPDR DJ STOXX 50 ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Banks................................. 17.8% Health Care........................... 16.8 Oil & Gas............................. 14.9 Telecommunications.................... 10.8 Food & Beverages...................... 8.2 Utilities............................. 6.2 Insurance............................. 5.1 Technology............................ 4.1 Basic Resources....................... 4.1 Industrial Goods & Services........... 3.5 Chemicals............................. 2.9 Personal & Household Goods............ 2.6 Retail................................ 1.5 Automobiles & Parts................... 1.2 Short Term Investments................ 1.2 Other Assets & Liabilities............ (0.9) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR DJ EURO STOXX 50 ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ------------ COMMON STOCKS -- 99.9% FINLAND -- 3.3% Nokia Oyj.................... 306,809 $ 4,733,923 ------------ FRANCE -- 35.7% Air Liquide SA............... 21,051 1,915,193 Alstom SA.................... 16,082 938,453 AXA (a)...................... 134,779 2,968,552 BNP Paribas SA............... 69,283 2,913,280 Carrefour SA (a)............. 49,193 1,881,837 Cie de Saint-Gobain (a)...... 24,302 1,134,872 Credit Agricole SA........... 81,844 910,137 France Telecom SA............ 153,346 4,254,643 GDF Suez..................... 104,376 5,125,226 Groupe Danone (a)............ 38,547 2,313,681 L'Oreal SA................... 19,240 1,666,185 LVMH Moet Hennessy Louis Vuitton SA................. 20,797 1,380,976 Renault SA (a)............... 15,908 410,194 Sanofi-Aventis............... 83,511 5,270,232 Schneider Electric SA........ 19,971 1,471,316 Societe Generale............. 46,879 2,345,908 Total SA..................... 169,550 9,170,419 Vinci SA..................... 39,849 1,661,762 Vivendi...................... 94,281 3,049,000 ------------ TOTAL FRANCE................. 50,781,866 ------------ GERMANY -- 29.0% Allianz SE................... 36,518 3,807,136 BASF SE...................... 74,195 2,859,925 Bayer AG..................... 61,743 3,566,062 Daimler AG................... 71,957 2,670,635 Deutsche Bank AG............. 46,081 1,782,647 Deutsche Boerse AG........... 15,740 1,111,472 Deutsche Telekom AG.......... 240,483 3,593,545 E.ON AG...................... 149,044 5,892,156 Muenchener Rueckversicherungs- Gesellschaft AG............ 16,661 2,570,717 RWE AG....................... 33,358 2,953,722 SAP AG....................... 70,540 2,474,885 Siemens AG................... 65,926 4,827,615 Volkswagen AG................ 8,856 3,077,569 ------------ TOTAL GERMANY................ 41,188,086 ------------ ITALY -- 11.1% Assicurazioni Generali SpA... 95,996 2,600,729 Enel SpA..................... 338,454 2,127,690 Eni SpA...................... 196,715 4,577,445 Intesa Sanpaolo SpA.......... 722,855 2,549,690 Telecom Italia SpA........... 825,247 1,319,204 UniCredit SpA................ 1,077,276 2,613,080 ------------ TOTAL ITALY.................. 15,787,838 ------------ LUXEMBOURG -- 1.0% ArcelorMittal(a)............. 59,801 1,422,291 ------------ NETHERLANDS -- 5.1% Aegon NV..................... 111,835 703,439 Fortis....................... 176,770 228,027 Fortis VVPR Strip (b)........ 129,370 180 ING Groep NV................. 167,436 1,706,016 Koninklijke (Royal) Philips Electronics NV............. 81,603 1,568,767 Unilever NV.................. 126,575 3,050,904 ------------ TOTAL NETHERLANDS............ 7,257,333 ------------ SPAIN -- 14.7% Banco Bilbao Vizcaya Argentaria SA.............. 287,430 3,460,032 Banco Santander SA (a)....... 645,318 6,054,911 Iberdrola SA................. 295,167 2,683,340 Repsol YPF SA................ 63,866 1,340,531 Telefonica SA................ 331,197 7,297,025 ------------ TOTAL SPAIN.................. 20,835,839 ------------ TOTAL COMMON STOCKS -- (Cost $255,741,483)........ 142,007,176 ------------ RIGHTS -- 0.0% (c) BELGIUM -- 0.0% (c) Fortis Bank NV/SA (expired 10/13/08) (b)(d) (Cost $0).................. 211,881 -- ------------ SHORT TERM INVESTMENTS -- 2.8% UNITED STATES -- 2.8% MONEY MARKET FUNDS -- 2.8% State Street Navigator Securities Lending Prime Portfolio (e)(f)........... 3,205,579 3,205,579 STIC Prime Portfolio......... 731,725 731,725 ------------ TOTAL SHORT TERM INVESTMENTS -- (Cost $3,937,304).......... 3,937,304 ------------ TOTAL INVESTMENTS -- 102.7% (Cost $259,678,787)........ 145,944,480 OTHER ASSETS AND LIABILITIES -- (2.7)%...... (3,875,067) ------------ NET ASSETS -- 100.0%......... $142,069,413 ============
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Non-income producing security. (c) Amount shown represents less than 0.05% of net assets. (d) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (e) Affiliated Fund managed by SSgA Funds Management, Inc. (f) Investments of cash collateral for securities loaned. SPDR DJ EURO STOXX 50 ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Banks................................. 16.1% Utilities............................. 13.2 Telecommunications.................... 11.6 Oil & Gas............................. 10.6 Insurance............................. 10.1 Chemicals............................. 5.9 Industrial Goods & Services........... 5.1 Technology............................ 5.1 Automobiles & Parts................... 4.3 Food & Beverages...................... 3.8 Health Care........................... 3.7 Personal & Household Goods............ 3.2 Media................................. 2.1 Construction & Materials.............. 2.0 Retail................................ 1.3 Basic Resources....................... 1.0 Financial Services.................... 0.8 Short Term Investments................ 2.8 Other Assets & Liabilities............ (2.7) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P EMERGING ASIA PACIFIC ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ------------ COMMON STOCKS -- 98.4% CHINA -- 38.3% Agile Property Holdings, Ltd. ...................... 984,188 $ 513,034 Air China, Ltd. ............. 845,414 261,799 Aluminum Corp. of China, Ltd. ...................... 874,304 460,267 Angang Steel Co., Ltd. ...... 347,244 388,455 Anhui Conch Cement Co., Ltd. (a)........................ 195,750 900,427 Baidu.com ADR (a)............ 7,079 924,305 Bank of China, Ltd. ......... 3,697,382 1,011,387 Bank of Communications Co., Ltd. ...................... 1,168,723 842,967 China CITIC Bank............. 1,047,385 358,129 China Communications Construction Co., Ltd. .... 524,000 646,363 China Construction Bank Corp. ..................... 5,588,768 3,064,729 China COSCO Holdings Co., Ltd. ...................... 794,132 552,292 China Life Insurance Co., Ltd. ...................... 1,281,708 3,894,638 China Mengniu Dairy Co., Ltd. ...................... 264,390 343,869 China Merchants Bank Co., Ltd. ...................... 507,669 940,637 China Merchants Holdings International Co., Ltd. ... 270,328 522,504 China Merchants Property Development Co., Ltd. ..... 286,300 277,057 China Mobile, Ltd. .......... 818,636 8,217,837 China Oilfield Services, Ltd. ...................... 1,226,557 989,133 China Overseas Land & Investment, Ltd. .......... 775,043 1,078,032 China Petroleum & Chemical Corp. ..................... 3,157,462 1,910,725 China Railway Construction Corp. (a).................. 181,500 270,252 China Resources Enterprise... 328,746 573,488 China Shenhua Energy Co., Ltd. ...................... 648,556 1,372,393 China Shipping Container Lines Co., Ltd. ........... 3,457,339 521,933 China Shipping Development Co., Ltd. ................. 529,215 525,787 China Telecom Corp., Ltd. ... 3,091,930 1,152,961 China Unicom, Ltd. .......... 744,172 892,983 CNOOC, Ltd. ................. 3,083,470 2,880,483 COSCO Pacific, Ltd. ......... 395,331 403,482 Ctrip.com International, Ltd. ADR (b).................... 20,802 495,088 Denway Motors, Ltd. ......... 1,546,205 480,808 Dongfeng Motor Group Co., Ltd. ...................... 1,142,763 368,624 Focus Media Holding, Ltd. ADR (a)(b)..................... 19,014 172,837 Guangzhou R&F Properties Co., Ltd. ...................... 485,776 535,907 Huaneng Power International, Inc. ...................... 1,084,472 783,598 Industrial & Commercial Bank of China................... 5,977,180 3,146,615 Inner Mongolia Yitai Coal Co., Ltd. ................. 83,900 206,562 Jiangsu Expressway Co. ...... 1,012,060 744,335 Jiangxi Copper Co., Ltd. .... 471,578 345,612 Lenovo Group, Ltd. .......... 1,607,703 437,699 Maanshan Iron & Steel........ 790,971 281,680 Mindray Medical International, Ltd. ADR (b)........................ 8,667 156,006 NetEase.com ADR (a)(b)....... 29,224 645,850 PetroChina Co., Ltd. ........ 3,775,379 3,307,634 Ping An Insurance Group Co. of China, Ltd. ............ 239,364 1,158,183 Samling Global, Ltd. ........ 1,674,707 84,273 Semiconductor Manufacturing International Corp. (a).... 5,897,837 247,322 Shanghai Electric Group Co., Ltd. (a)................... 1,409,179 570,930 SINA Corp. (a)(b)............ 11,758 272,198 Sinopec Shanghai Petrochemical Co., Ltd. ... 1,023,252 262,738 Sohu.com, Inc. (a)........... 2,997 141,878 Suntech Power Holdings Co., Ltd. ADR (a)(b)............ 22,422 262,337 Tencent Holdings, Ltd. ...... 168,194 1,085,095 Tingyi Cayman Islands Holding Corp. ..................... 526,383 609,909 Yanzhou Coal Mining Co., Ltd. ...................... 594,882 436,747 Zijin Mining Group Co., Ltd. ...................... 875,790 531,111 ------------ TOTAL CHINA.................. 54,463,924 ------------ INDIA -- 17.6% Apollo Hospitals Enterprise, Ltd. ...................... 55,900 511,958 Axis Bank, Ltd. ............. 19,990 207,245 Bharat Heavy Electricals, Ltd. ...................... 36,502 1,017,216 Bharti Airtel, Ltd. (a)...... 174,065 2,548,630 Cipla, Ltd. ................. 148,808 572,996 HDFC Bank, Ltd. ............. 48,095 983,124 Hero Honda Motors, Ltd. ..... 54,003 889,243 Hindustan Lever, Ltd. ....... 269,578 1,383,579 Hindustan Zinc, Ltd. ........ 31,933 221,571 Housing Development Finance Corp., Ltd. ............... 45,656 1,393,295 ICICI Bank, Ltd. ............ 109 1,001 ICICI Bank, Ltd. ADR (b)..... 45,708 879,879 Idea Cellular, Ltd. (a)...... 411,644 445,694 Indiabulls Financial Services, Ltd. ............ 75,470 204,863 Indiabulls Securities, Ltd. ...................... 87,002 37,858 Indian Hotels Co., Ltd. ..... 486,230 449,104 Infosys Technologies, Ltd. ADR (b).................... 72,430 1,779,605 ITC, Ltd. GDR................ 225,345 793,214 Larsen & Toubro, Ltd. GDR.... 55,740 902,988 Mahindra & Mahindra, Ltd. GDR........................ 45,704 259,852 Mercator Lines, Ltd. ........ 189,111 131,004 Oil & Natural Gas Corp., Ltd. ...................... 69,294 950,090 Reliance Capital, Ltd. ...... 28,367 313,277 Reliance Communications, Ltd. ...................... 167,557 780,867 Reliance Industries, Ltd. GDR (c)........................ 62,948 3,235,527 Reliance Infrastructure, Ltd. ...................... 60,771 723,901 Satyam Computer Services, Ltd. ADR (b)............... 53,544 484,038 Siemens India, Ltd. ......... 62,701 372,191 State Bank of India.......... 10,090 267,161 Steel Authority of India, Ltd. ...................... 191,529 304,080 Sterlite Industries India, Ltd. ...................... 36,689 195,494 Suzlon Energy, Ltd. ......... 113,476 145,222 Tata Consultancy Services, Ltd. ...................... 38,044 372,358 Tata Motors, Ltd. ........... 71,458 231,153 Unitech, Ltd. ............... 98,517 82,401 United Spirits, Ltd. ........ 9,003 162,801 Wipro, Ltd. ADR (b).......... 57,951 471,142 Zee Entertainment Enterprises, Ltd. ......... 103,841 297,754 ------------ TOTAL INDIA.................. 25,003,376 ------------ INDONESIA -- 3.2% Astra International Tbk PT... 590,720 571,752 Bank Central Asia Tbk PT..... 3,643,796 1,086,453 Bank Rakyat Indonesia PT..... 1,734,648 728,075 Bumi Resources Tbk PT (d).... 3,013,964 251,624 Indosat Tbk PT............... 1,291,748 681,427 Perusahaan Gas Negara PT..... 2,570,140 438,574 Telekomunikasi Indonesia Tbk PT......................... 1,343,594 850,532 ------------ TOTAL INDONESIA.............. 4,608,437 ------------
SPDR S&P EMERGING ASIA PACIFIC ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ------------ MALAYSIA -- 6.1% Alliance Financial Group Bhd........................ 1,170,100 $ 615,486 Bintulu Port Holdings Bhd.... 404,006 665,559 Bursa Malaysia Bhd........... 318,107 473,483 Carlsberg Brewery Bhd........ 684,303 711,992 Ecm Libra Financial Group Bhd........................ 2,435,700 281,584 Genting Bhd.................. 657,000 702,572 IJM Corp. Bhd................ 512,700 414,902 IOI Corp. Bhd................ 841,640 865,965 Landmarks Bhd................ 798,700 200,829 Lingkaran Trans Kota Holdings Bhd........................ 1,472,600 778,861 Malaysian Airline System Bhd........................ 654,133 578,511 Naim Cendera Holding Bhd..... 879,813 366,165 Osk Holdings Bhd (a)......... 902,700 258,287 Sarawake Energy Bhd.......... 1,388,766 931,196 Star Publications Malaysia Bhd........................ 44,600 41,764 Tan Chong Motor Holdings Bhd........................ 349,700 117,240 Uchi Technologies Bhd........ 1,117,000 297,006 Wah Seong Corp Bhd........... 839,300 241,359 Zelan Bhd.................... 868,300 220,839 ------------ TOTAL MALAYSIA............... 8,763,600 ------------ PHILIPPINES -- 1.2% Ayala Land, Inc. ............ 3,703,758 498,508 First Gen Corp (a)........... 937,600 193,238 First Philippine Holdings Corp (a)................... 660,800 211,929 Philippine Long Distance Telephone Co. ............. 19,034 846,623 ------------ TOTAL PHILIPPINES............ 1,750,298 ------------ TAIWAN -- 28.3% Acer, Inc. .................. 532,516 691,242 Advanced Semiconductor Engineering, Inc. ......... 1,125,758 404,776 Asia Cement Corp. ........... 712,282 617,479 Asustek Computer, Inc. ...... 619,969 695,193 AU Optronics Corp. ADR (b)... 140,029 1,075,423 Catcher Technology Co., Ltd. ...................... 177,490 294,212 Cathay Financial Holding Co., Ltd. ...................... 872,900 970,835 Chang Hwa Commercial Bank.... 1,730,000 674,752 Chi Mei Optoelectronics Corp. GDR (d).................... 70,037 230,483 China Development Financial Holding Corp. ............. 2,553,553 563,341 China Steel Chemical Corp. .. 686,877 1,052,773 China Steel Corp. ........... 1,452,935 1,022,695 Chinatrust Financial Holding Co., Ltd. ................. 1,675,150 709,507 Chunghwa Picture Tubes, Ltd. ...................... 2,522,000 256,673 Chunghwa Telecom Co., Ltd. .. 707,389 1,153,188 Compal Electronics, Inc. .... 1,110,668 583,796 Delta Electronics, Inc. ..... 345,503 668,519 Epistar Corp. ............... 161,170 145,366 Everlight Electronics Co., Ltd. ...................... 111,527 146,809 Far Eastern Textile Co., Ltd. ...................... 1,030,764 659,578 First Financial Holding Co., Ltd........................ 1,221,948 642,288 Formosa Chemicals & Fibre Corp. ..................... 565,000 688,646 Formosa Plastics Corp. ...... 798,000 1,060,174 Foxconn Technology Co., Ltd. ...................... 190,345 447,761 Fubon Financial Holding Co., Ltd. ...................... 1,142,000 831,672 High Tech Computer Corp. .... 135,190 1,347,039 Hon Hai Precision Industry Co., Ltd. ................. 866,600 1,695,281 Hua Nan Financial Holdings Co., Ltd. ................. 1,085,140 608,403 King Yuan Electronics Co., Ltd. ...................... 1,571,859 344,853 Largan Precision Co., Ltd. .. 32,461 201,286 Lite-On Technology Corp. .... 482,523 315,379 Macronix International Co., Ltd. ...................... 1,067,741 281,430 MediaTek, Inc. .............. 171,638 1,153,214 Mega Financial Holding Co., Ltd. ...................... 1,442,000 503,105 Motech Industries, Inc. ..... 59,610 140,588 Nan Ya Plastics Corp. ....... 852,000 916,436 Novatek Microelectronics Corp., Ltd. ............... 118,868 112,645 Polaris Securities Co., Ltd. ...................... 3,533,150 1,243,460 Powerchip Semiconductor Corp. (a)........................ 1,822,638 217,153 Powertech Technology, Inc. .. 255,995 425,904 ProMOS Technologies, Inc. (a)........................ 1,823,000 134,984 Quanta Computer, Inc. ....... 755,430 796,449 Realtek Semiconductor Corp. ..................... 237,697 229,237 Shin Kong Financial Holding Co., Ltd. ................. 1,558,505 422,655 Siliconware Precision Industries Co. ............ 591,745 504,871 SinoPac Financial Holdings Co., Ltd. ................. 1,842,000 401,313 Tainan Enterprises........... 1,438,826 749,708 Taishin Financial Holdings Co., Ltd. ................. 1,802,000 317,373 Taiwan Cement Corp. ......... 872,322 716,347 Taiwan Fu Hsing Industrial Co., Ltd. ................. 1,017,000 350,177 Taiwan Semiconductor Manufacturing Co., Ltd. ADR (b)........................ 693,424 5,478,050 Tatung Co., Ltd. (a)......... 1,322,000 245,322 Tripod Technology Corp. ..... 285,742 279,926 Uni-President Enterprises Corp. ..................... 893,145 786,516 United Integrated Services Co., Ltd. ................. 829,000 277,866 United Microelectronics Corp. ADR (b).................... 492,178 964,669 Via Technologies, Inc. (a)... 604,000 145,948 Walsin Lihwa Corp. .......... 3,110,000 602,706 Wistron Corp. ............... 436,022 330,823 Yageo Corp. ................. 2,516,000 317,394 Yuanta Financial Holding Co., Ltd........................ 979,000 438,519 ------------ TOTAL TAIWAN................. 40,284,210 ------------ THAILAND -- 3.7% Advanced Info Service PCL.... 373,123 842,155 Bangkok Expressway PCL....... 1,417,665 705,164 Electricity Generating PCL... 273,396 538,460 Electricity Generating PCL (Foreign ownership limit).. 86,300 182,376 IRPC PCL..................... 2,393,139 148,625 Kasikornbank PCL............. 525,098 679,396 PTT Exploration & Production PCL........................ 313,005 944,955 PTT PCL...................... 200,236 1,007,513 Thai Oil PCL................. 374,091 253,840 ------------ TOTAL THAILAND............... 5,302,484 ------------ TOTAL COMMON STOCKS -- (Cost $220,949,786)........ 140,176,329 ------------ RIGHTS -- 0.0% (e) CHINA -- 0.0% (e) China Overseas Land (expiring 01/21/09) (a).... 30,041 10,776 ------------ MALAYSIA -- 0.0% (e) Malaysian Airline System Bhd (expiring 10/30/12) (a).... 39,733 8,383 ------------ TOTAL RIGHTS -- (Cost $11,583)............. 19,159 ------------ WARRANTS -- 0.0% (e) MALAYSIA -- 0.0% (e) IJM Land Bhd (expiring 9/11/13) (a) (Cost $0)..... 27,580 1,514 ------------
SPDR S&P EMERGING ASIA PACIFIC ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ------------ SHORT TERM INVESTMENTS -- 6.9% UNITED STATES -- 6.9% MONEY MARKET FUNDS -- 6.9% State Street Navigator Securities Lending Prime Portfolio (f)(g)........... 6,405,423 $ 6,405,423 STIC Prime Portfolio......... 3,369,358 3,369,358 ------------ TOTAL SHORT TERM INVESTMENTS -- (Cost $9,774,781).......... 9,774,781 ------------ TOTAL INVESTMENTS -- 105.3% (Cost $230,736,150)........ 149,971,783 OTHER ASSETS AND LIABILITIES -- (5.3)%...... (7,606,255) ------------ NET ASSETS -- 100.0%......... $142,365,528 ============
(a) Non-income producing security. (b) Security, or portion thereof, was on loan at December 31, 2008. (c) Security purchased pursuant to Rule 144A of the Securities Act of 1933. This security which represents 2.3% of net assets as of December 31, 2008, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. (d) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (e) Amount shown represents less than 0.05% of net assets. (f) Affiliated Fund managed by SSgA Funds Management, Inc. (g) Investments of cash collateral for securities loaned. ADR = American Depositary Receipt GDR = Global Depositary Receipt At December 31, 2008, open futures contracts purchased were as follows:
EXPIRATION AGGREGATE UNREALIZED FUTURES DATE CONTRACTS FACE VALUE VALUE APPRECIATION - ------- ---------- --------- ---------- ---------- ------------ MSCI Taiwan Stock Index........... 1/29/2009 127 $2,146,815 $2,214,880 $68,065
SPDR S&P EMERGING ASIA PACIFIC ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Commercial Banks...................... 13.5% Oil, Gas & Consumable Fuels........... 11.9 Wireless Telecommunication Services... 9.6 Semiconductors & Semiconductor Equipment........................... 7.6 Insurance............................. 4.5 Computers & Peripherals............... 4.3 Electronic Equipment, Instruments & Components.......................... 3.6 Diversified Telecommunication Services............................ 3.3 Chemicals............................. 2.8 Transportation Infrastructure......... 2.7 Metals & Mining....................... 2.6 Real Estate Management & Development.. 2.4 IT Services........................... 2.2 Internet Software & Services.......... 2.1 Construction & Engineering............ 1.9 Electrical Equipment.................. 1.9 Automobiles........................... 1.9 Food Products......................... 1.8 Diversified Financial Services........ 1.6 Construction Materials................ 1.5 Electric Utilities.................... 1.3 Hotels, Restaurants & Leisure......... 1.3 Capital Markets....................... 1.3 Marine................................ 1.2 Independent Power Producers & Energy Traders............................. 1.2 Thrifts & Mortgage Finance............ 1.0 Household Products.................... 1.0 Pharmaceuticals....................... 1.0 Energy Equipment & Services........... 0.9 Industrial Conglomerates.............. 0.7 Beverages............................. 0.6 Airlines.............................. 0.6 Textiles, Apparel & Luxury Goods...... 0.5 Distributors.......................... 0.4 Media................................. 0.4 Health Care Providers & Services...... 0.4 Gas Utilities......................... 0.3 Building Products..................... 0.2 Machinery............................. 0.2 Health Care Equipment & Supplies...... 0.1 Paper & Forest Products............... 0.1 Short Term Investments................ 6.9 Other Assets & Liabilities............ (5.3) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P CHINA ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ COMMON STOCKS -- 100.1% CHINA -- 100.1% AIR FREIGHT & LOGISTICS -- 0.2% Sinotrans, Ltd. ............ 1,162,000 $ 224,897 ------------ AIRLINES -- 0.3% Air China, Ltd. ............ 1,116,000 345,591 ------------ AUTOMOBILES -- 1.0% Brilliance China Automotive Holdings, Ltd. (a)........ 1,386,000 72,428 Denway Motors, Ltd. ........ 2,544,000 791,081 Dongfeng Motor Group Co., Ltd. ..................... 1,544,000 498,052 ------------ 1,361,561 ------------ BEVERAGES -- 0.3% Tsingtao Brewery Co., Ltd. ..................... 186,000 388,310 ------------ BIOTECHNOLOGY -- 0.1% American Oriental Bioengineering, Inc. (a)(b).................... 24,611 167,109 ------------ CHEMICALS -- 0.7% China Bluechemical, Ltd. ... 966,000 396,361 Sinofert Holdings, Ltd. .... 476,000 230,317 Sinopec Shanghai Petrochemical Co., Ltd. .. 1,236,000 317,365 ------------ 944,043 ------------ COMMERCIAL BANKS -- 17.2% Bank of China, Ltd. ........ 10,311,000 2,820,485 Bank of Communications Co., Ltd. ..................... 2,437,000 1,757,739 China CITIC Bank............ 712,393 243,586 China Construction Bank Corp. .................... 14,893,000 8,166,918 China Merchants Bank Co., Ltd. ..................... 1,131,000 2,095,580 Industrial & Commercial Bank of China.................. 14,974,000 7,882,883 ------------ 22,967,191 ------------ COMMERCIAL SERVICES & SUPPLIES -- 0.0% (c) Bio-Treat Technology, Ltd. (a)....................... 1,535,015 53,271 ------------ COMMUNICATIONS EQUIPMENT -- 0.4% AAC Acoustic Technology Holdings, Inc. (a)........ 368,000 165,239 ZTE Corp. .................. 121,680 318,715 ------------ 483,954 ------------ COMPUTERS & PERIPHERALS -- 0.5% Lenovo Group, Ltd. ......... 1,726,000 469,905 TPV Technology, Ltd. ....... 738,000 238,059 ------------ 707,964 ------------ CONSTRUCTION & ENGINEERING -- 1.9% China Communications Construction Co., Ltd. ... 1,645,394 2,029,621 China Railway Construction Corp. (a)................. 342,000 509,236 ------------ 2,538,857 ------------ CONSTRUCTION MATERIALS -- 1.0% Anhui Conch Cement Co., Ltd. (a)....................... 186,000 855,578 China National Building Material Co., Ltd. ....... 428,000 514,139 ------------ 1,369,717 ------------ DISTRIBUTORS -- 0.8% China Resources Enterprise.. 564,000 983,882 Xinyu Hengdeli Holdings, Ltd. ..................... 912,907 141,349 ------------ 1,125,231 ------------ DIVERSIFIED TELECOMMUNICATION SERVICES -- 2.1% China Communications Services Corp., Ltd. ..... 617,369 387,140 China Telecom Corp., Ltd. .. 6,450,000 2,405,164 ------------ 2,792,304 ------------ ELECTRICAL EQUIPMENT -- 1.7% Byd Co., Ltd. .............. 343,400 562,718 Dongfang Electrical Machinery Co., Ltd. ...... 63,600 159,201 Harbin Power Equipment...... 306,000 253,085 Shanghai Electric Group Co., Ltd. (a).................. 1,678,000 679,843 Suntech Power Holdings Co., Ltd. ADR (a)(b)........... 56,354 659,342 ------------ 2,314,189 ------------ ELECTRONIC EQUIPMENT & INSTRUMENTS -- 0.0% China BAK Battery, Inc. (a)(b).................... 12,900 20,898 ------------ ENERGY EQUIPMENT & SERVICES -- 0.6% China Oilfield Services, Ltd. ..................... 992,000 799,979 ------------ FOOD PRODUCTS -- 2.7% Chaoda Modern Agriculture Holdings, Ltd. ........... 850,254 543,052 China Foods, Ltd. .......... 1,339 499 China Huiyuan Juice Group, Ltd. ..................... 330,448 413,156 China Mengniu Dairy Co., Ltd. ..................... 451,000 586,576 China Milk Products Group, Ltd. ..................... 892,000 235,266 China Yurun Food Group, Ltd. ..................... 355,000 417,286 People's Food Holdings, Ltd. ..................... 661,000 318,858 Pine Agritech, Ltd. ........ 204,000 18,407 Tingyi Cayman Islands Holding Corp. ............ 870,000 1,008,052 ------------ 3,541,152 ------------ HEALTH CARE EQUIPMENT & SUPPLIES -- 0.3% China Medical Technologies, Inc. ADR (b).............. 11,054 223,954 Mindray Medical International Ltd. ADR (b)....................... 9,510 171,180 ------------ 395,134 ------------ HOTELS, RESTAURANTS & LEISURE -- 0.8% China Travel International Investment Hong Kong, Ltd. ..................... 1,236,000 240,815 Ctrip.com International, Ltd. ADR (b).............. 26,988 642,314 Home Inns & Hotels Management, Inc. ADR (a)(b).................... 3,400 29,172 Shanghai Jin Jiang International Hotels Group Co., Ltd. ................ 1,664,000 193,234 ------------ 1,105,535 ------------ HOUSEHOLD DURABLES -- 0.2% China Digital TV Holding Co., Ltd. ADR (a)(b)...... 25,063 210,028 ------------ INDEPENDENT POWER PRODUCERS & ENERGY TRADERS -- 2.6% China Power International Development, Ltd. ........ 1,085,000 223,994 China Resources Power Holdings Co. ............. 502,000 965,111 Datang International Power Generation Co., Ltd. ..... 1,666,000 881,345 Huadian Power International Co. ...................... 992,000 236,794 Huaneng Power International, Inc. ..................... 1,668,000 1,205,233 ------------ 3,512,477 ------------
SPDR S&P CHINA ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ INDUSTRIAL CONGLOMERATES -- 0.5% Shanghai Industrial Holdings, Ltd. ........... 270,000 $ 616,629 ------------ INSURANCE -- 10.4% China Insurance International Holdings Co., Ltd. ................ 314,000 482,940 China Life Insurance Co., Ltd. ..................... 3,216,000 9,772,238 PICC Property & Casualty Co., Ltd. (a)............. 1,166,000 628,871 Ping An Insurance Group Co. of China, Ltd. ........... 620,000 2,999,923 ------------ 13,883,972 ------------ INTERNET SOFTWARE & SERVICES -- 4.2% Baidu, Inc. ADR (a)(b)...... 8,946 1,168,079 Giant Interactive Group, Inc. ADR (a)(b)........... 31,400 203,786 NetEase.com ADR (a)(b)...... 61,151 1,351,437 SINA Corp. (a)(b)........... 19,759 457,421 Sohu.com, Inc. (a)(b)....... 13,249 627,208 Tencent Holdings, Ltd. ..... 281,000 1,812,856 The9, Ltd. ADR (a).......... 2,400 31,968 ------------ 5,652,755 ------------ IT SERVICES -- 0.1% Travelsky Technology, Ltd. ..................... 435,000 190,834 ------------ LEISURE EQUIPMENT & PRODUCTS -- 0.4% Li Ning Co., Ltd. .......... 353,000 551,121 ------------ MACHINERY -- 0.2% China Infrastructure Machinery Holdings, Ltd. ..................... 574 294 Guangzhou Shipyard International Co., Ltd. .. 62,000 56,879 Weichai Power Co., Ltd. .... 141,800 267,126 ------------ 324,299 ------------ MARINE -- 1.5% China COSCO Holdings Co., Ltd. ..................... 1,197,875 833,081 China Shipping Container Lines Co., Ltd. .......... 2,076,500 313,476 China Shipping Development Co., Ltd. ................ 688,000 683,544 Yangzijiang Shipbuilding Holdings, Ltd. (b)........ 605,000 191,064 ------------ 2,021,165 ------------ MEDIA -- 0.3% Focus Media Holding, Ltd. ADR (a)(b)................ 40,135 364,827 ------------ METALS & MINING -- 2.6% Aluminum Corp. of China, Ltd. ..................... 1,610,000 847,565 Angang Steel Co., Ltd. ..... 587,720 657,471 Hunan Non-Ferrous Metal Corp., Ltd. .............. 750,000 106,449 Jiangxi Copper Co., Ltd. ... 699,000 512,286 Maanshan Iron & Steel....... 930,000 331,192 Zijin Mining Group Co., Ltd. ..................... 1,690,500 1,025,180 ------------ 3,480,143 ------------ MULTILINE RETAIL -- 0.6% Golden Eagle Retail Group, Ltd. ..................... 314,000 220,402 Parkson Retail Group, Ltd. ..................... 465,000 527,986 ------------ 748,388 ------------ OIL, GAS & CONSUMABLE FUELS -- 17.8% China Coal Energy Co. ...... 1,557,413 1,239,870 China Petroleum & Chemical Corp. .................... 7,640,000 4,623,313 China Shenhua Energy Co., Ltd. ..................... 1,430,500 3,027,044 CNOOC, Ltd. ................ 6,268,000 5,855,374 CNPC Hong Kong, Ltd. ....... 1,220,000 379,371 PetroChina Co., Ltd. ....... 8,852,000 7,755,294 Yanzhou Coal Mining Co., Ltd. ..................... 1,056,000 775,288 ------------ 23,655,554 ------------ PAPER & FOREST PRODUCTS -- 0.3% Citic Resources Holdings, Ltd. (a).................. 827,200 97,127 Lee & Man Paper Manufacturing, Ltd. ...... 185,600 91,241 Nine Dragons Paper Holdings, Ltd. ..................... 557,000 158,831 ------------ 347,199 ------------ REAL ESTATE MANAGEMENT & DEVELOPMENT -- 3.9% Agile Property Holdings, Ltd. ..................... 750,000 390,958 China Overseas Land & Investment, Ltd. ......... 1,492,000 2,075,270 China Resources Land, Ltd. ..................... 502,000 615,339 E-House China Holdings Ltd. (a)(b).................... 41,606 337,009 Greentown China Holdings, Ltd. ..................... 248,500 103,886 Guangzhou Investment Co., Ltd. ..................... 1,910,000 184,834 Guangzhou R&F Properties Co., Ltd. ................ 507,200 559,542 Shanghai Forte Land Co. (a)....................... 628,000 100,477 Shenzhen Investment, Ltd. .. 813,254 144,808 Shimao Property Holdings, Ltd. ..................... 554,000 384,573 Yanlord Land Group, Ltd. (b)....................... 460,000 285,754 ------------ 5,182,450 ------------ ROAD & RAIL -- 0.2% Guangshen Railway Co., Ltd. ..................... 870,000 321,050 ------------ SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT -- 0.3% Actions Semiconductor Co., Ltd. ADR (a)(b)........... 49,241 79,278 Semiconductor Manufacturing International Corp. (a)... 6,893,000 289,054 ------------ 368,332 ------------ SOFTWARE -- 0.3% Shanda Interactive Entertainment, Ltd. ADR (a)(b).................... 12,284 397,510 ------------ TEXTILES, APPAREL & LUXURY GOODS -- 0.3% Ports Design, Ltd. ......... 168,000 203,763 Weiqiao Textile Co. ........ 373,000 128,982 ------------ 332,745 ------------ TRANSPORTATION INFRASTRUCTURE -- 2.9% Anhui Expressway Co., Ltd. ..................... 794,000 286,857 Beijing Capital International Airport Co., Ltd. ..................... 870,000 436,673 China Merchants Holdings International Co., Ltd. .. 514,893 995,213 COSCO Pacific, Ltd. ........ 564,000 575,629 Dalian Port PDA Co., Ltd. .. 562,000 141,403 Jiangsu Expressway Co. ..... 810,000 595,726 Shenzhen Expressway Co., Ltd. ..................... 750,000 262,251 Zhejiang Expressway Co., Ltd. ..................... 930,000 545,986 ------------ 3,839,738 ------------ WATER UTILITIES -- 0.4% Guangdong Investment, Ltd. ..................... 1,208,000 484,746 ------------
SPDR S&P CHINA ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ WIRELESS TELECOMMUNICATION SERVICES -- 17.5% China Mobile, Ltd. ......... 2,085,500 $ 20,935,189 China Unicom, Ltd. ......... 1,980,492 2,376,529 ------------ 23,311,718 ------------ TOTAL COMMON STOCKS -- (Cost $210,090,912)....... 133,444,567 ------------ RIGHTS -- 0.0% (c) CHINA -- 0.0% (c) China Overseas Land & Investment (expiring 01/21/09) (a) (Cost $0)................. 59,680 21,407 ------------ SHORT TERM INVESTMENTS -- 3.6% UNITED STATES -- 3.6% MONEY MARKET FUNDS -- 3.6% State Street Navigator Securities Lending Prime Portfolio (d)(e).......... 2,530,690 2,530,690 STIC Prime Portfolio........ 2,246,142 2,246,142 ------------ TOTAL SHORT TERM INVESTMENTS -- (Cost $4,776,832)......... 4,776,832 ------------ TOTAL INVESTMENTS -- 103.7% (Cost $214,867,744)....... 138,242,806 OTHER ASSETS AND LIABILITIES -- (3.7)%..... (4,987,887) ------------ NET ASSETS -- 100.0%........ $133,254,919 ============
(a) Non-income producing security. (b) Security, or portion thereof, was on loan at December 31, 2008. (c) Amount represents less than 0.05% of net assets. (d) Affiliated Fund managed by SSgA Funds Management, Inc. (e) Investments of cash collateral for securities loaned. ADR = American Depositary Receipt SPDR S&P EMERGING MARKETS ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- COMMON STOCKS 95.9% ARGENTINA -- 0.4% Grupo Financiero Galicia SA ADR (a)(b).................. 3,940 $ 8,904 Telecom Argentina SA ADR (a)(b)...................... 3,345 25,422 Tenaris SA ADR (a)............ 7,109 149,147 ----------- TOTAL ARGENTINA............... 183,473 ----------- BRAZIL -- 13.5% Aracruz Celulose SA ADR (a)... 1,843 20,789 Banco Bradesco Preference Shares SA ADR (a)........... 44,189 436,145 Banco do Brasil SA............ 9,359 58,915 Banco Itau Holding Financeira SA Preference Shares ADR (a)......................... 44,101 511,572 Bradespar SA Preference Shares...................... 8,277 68,076 Brasil Telecom Participacoes SA ADR (a).................. 2,538 98,043 Braskem SA Preference Shares ADR (a)..................... 3,703 17,885 Centrais Eletricas Brasileiras SA ADR...................... 11,857 131,638 Companhia Brasileira de Distribuicao Grupo Pao de Acucar ADR (a).............. 2,342 64,545 Companhia de Bebidas das Americas Preference Shares ADR (a)..................... 6,133 271,753 Companhia de Saneamento Basico do Estado de Sao Paulo...... 4,341 51,675 Companhia Energetica de Minas Gerais ADR (a).............. 10,432 143,336 Companhia Siderurgica Nacional SA ADR (a).................. 15,163 194,238 Companhia Vale do Rio Doce ADR (a)......................... 44,361 537,212 Companhia Vale do Rio Doce Preference Shares ADR (a)... 57,140 608,541 Cosan SA Industria e Comercio (b)......................... 3,273 15,775 Cyrela Brazil Realty SA....... 9,222 36,382 Cyrela Commercial Properties SA Empreendimentos e Participacoes............... 863 2,228 Duratex SA Preference Shares.. 3,576 22,066 Empresa Brasileira de Aeronautica SA.............. 14,085 53,211 Gerdau SA ADR (a)............. 22,584 149,054 Investimentos Itau SA......... 13,515 65,662 Investimentos Itau SA Preference Shares........... 72,133 247,764 Lojas Americanas SA Preference Shares...................... 8,108 21,800 Lojas Renner SA............... 5,967 40,096 Metalurgica Gerdau SA Preference Shares........... 10,278 88,765 Natura Cosmeticos SA.......... 5,042 41,058 Perdigao SA ADR (a)........... 2,529 66,715 Petroleo Brasileiro SA ADR.... 32,966 807,337 Petroleo Brasileiro SA ADR Preference Shares (a)....... 44,179 901,693 Souza Cruz SA................. 3,328 62,935 Tam SA ADR (a)................ 2,820 23,237 Telemig Celular Participacoes ADR (a)..................... 901 27,021 Tim Participacoes SA ADR (a).. 2,793 34,885 Tractebel Energia SA ADR (a).. 4,761 37,612 Unibanco -- Uniao de Bancos Brasileiros SA GDR.......... 3,580 231,340 Usinas Siderurgicas de Minas Gerais SA ADR (a)........... 8,873 100,906 Vivo Participacoes SA Preference Shares (b)....... 5,298 64,158 Votorantim Celulose e Papel SA ADR(a) (b).................. 4,571 36,248 Weg SA........................ 8,180 43,846 ----------- TOTAL BRAZIL.................. 6,436,157 ----------- CHILE -- 1.8% Administradora de Fondos de Pensiones Caprum SA......... 2,101 26,541 Antarchile SA................. 5,860 56,278 Cementos Bio-Bio SA........... 27,522 37,142 Companhia de Telecomunicaciones de Chile SA ADR...................... 815 5,045 Companhia General de Electricidad................ 13,197 55,501 Empresa Nacional de Electricidad SA ADR (a)..... 3,490 116,880 Empresas COPEC SA............. 13,498 102,688 Enersis SA ADR................ 8,531 108,685 Farmacias Ahumada SA.......... 23,062 27,866 Lan Airlines SA ADR (a)....... 5,620 45,241 Parque Arauco SA.............. 75,474 34,341 SACI Falabella................ 40,569 106,953 Vina Concha y Toro SA ADR (a)......................... 2,289 68,693 Vina San Pedro SA............. 9,443,633 54,802 ----------- TOTAL CHILE................... 846,656 ----------- CHINA -- 19.6% AAC Acoustic Technology Holdings, Inc. (b).......... 52,000 23,349 Agile Property Holdings, Ltd. ....................... 78,000 40,660 Air China, Ltd. .............. 74,000 22,916 Aluminum Corp. of China, Ltd. ....................... 128,000 67,384 Angang Steel Co., Ltd. ....... 28,640 32,039 Anhui Conch Cement Co., Ltd. (b)......................... 26,000 119,597 Baidu, Inc. ADR(a) (b)........ 857 111,898 Bank of China, Ltd. .......... 642,000 175,614 Bank of Communications Co., Ltd. ....................... 171,000 123,337 Beijing Capital International Airport Co., Ltd. .......... 78,000 39,150 Chaoda Modern Agriculture Holdings, Ltd. ............. 74,550 47,615 China CITIC Bank.............. 149,000 50,947 China Coal Energy Co. ........ 129,000 102,698 China Communications Construction Co., Ltd. ..... 122,000 150,489 China Construction Bank Corp. ...................... 885,000 485,310 China COSCO Holdings Co., Ltd. ....................... 93,925 65,322 China Life Insurance Co., Ltd. ....................... 225,000 683,692 China Mengniu Dairy Co., Ltd. ....................... 39,000 50,724 China Merchants Bank Co., Ltd. ....................... 79,000 146,376 China Merchants Holdings International Co., Ltd. .... 26,527 51,273 China Mobile, Ltd. ........... 145,500 1,460,595 China Oilfield Services, Ltd. ....................... 100,000 80,643 China Overseas Land & Investment, Ltd. ........... 104,000 144,657 China Petroleum & Chemical Corp. ...................... 508,000 307,414 China Power International Development, Ltd. .......... 130,000 26,838 China Railway Construction Corp. (b)................... 65,000 96,785 China Railway Group, Ltd. (b)......................... 116,000 80,375 China Resources Enterprise.... 26,000 45,356 China Resources Land, Ltd. ... 52,000 63,740 China Resources Power Holdings Co. ........................ 52,000 99,972
SPDR S&P EMERGING MARKETS ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- China Shenhua Energy Co., Ltd. ....................... 103,000 $ 217,956 China Shipping Container Lines Co., Ltd. .................. 212,350 32,057 China Shipping Development Co., Ltd. .................. 52,000 51,663 China Telecom Corp., Ltd. .... 462,000 172,277 China Travel International Investment Hong Kong, Ltd. ....................... 124,000 24,159 China Unicom, Ltd. ........... 109,668 131,598 Citic Pacific, Ltd. .......... 21,000 22,706 CNOOC, Ltd. .................. 496,000 463,348 CNPC Hong Kong, Ltd. ......... 130,000 40,425 COSCO Pacific, Ltd. .......... 52,000 53,072 Ctrip.com International, Ltd. ADR (a)..................... 2,633 62,665 Datang International Power Generation Co., Ltd. ....... 156,000 82,527 Denway Motors, Ltd. .......... 178,000 55,351 Dongfang Electrical Machinery Co., Ltd. .................. 2,200 5,507 Dongfeng Motor Group Co., Ltd. ....................... 130,000 41,934 Focus Media Holding, Ltd. ADR (a)(b)...................... 2,935 26,679 Guangdong Investment, Ltd. ... 106,000 42,536 Guangshen Railway Co., Ltd. .. 104,000 38,378 Guangzhou Investment Co., Ltd. ....................... 180,000 17,419 Guangzhou R&F Properties Co., Ltd. ....................... 46,800 51,630 Harbin Power Equipment........ 26,000 21,504 Huadian Power International Co. ........................ 156,000 37,238 Huaneng Power International, Inc. ....................... 130,000 93,933 Industrial & Commercial Bank of China.................... 1,171,000 616,459 Jiangsu Expressway Co. ....... 80,000 58,837 Jiangxi Copper Co., Ltd. ..... 28,000 20,521 Kingboard Chemical Holdings, Ltd. ....................... 18,500 33,180 Lenovo Group, Ltd. ........... 176,000 47,916 Li Ning Co., Ltd. ............ 26,000 40,592 Maanshan Iron & Steel......... 78,000 27,777 NetEase.com ADR (a)(b)........ 3,108 68,687 Nine Dragons Paper Holdings, Ltd. ....................... 39,000 11,121 Parkson Retail Group, Ltd. ... 31,134 35,351 PetroChina Co., Ltd. ......... 564,000 494,124 PICC Property & Casualty Co., Ltd. (b).................... 104,000 56,091 Pine Agritech, Ltd. .......... 107,000 9,655 Ping An Insurance Group Co. of China, Ltd. ................ 39,000 188,705 Semiconductor Manufacturing International Corp. (b)..... 438,000 18,367 Shanghai Electric Group Co., Ltd. (b).................... 130,000 52,670 Shenzhen Expressway Co., Ltd. ....................... 104,000 36,365 Shimao Property Holdings, Ltd. ....................... 39,000 27,073 SINA Corp. (a)(b)............. 1,495 34,609 Sinopec Shanghai Petrochemical Co., Ltd. .................. 104,000 26,704 Sinotrans, Ltd. .............. 130,000 25,161 Suntech Power Holdings Co., Ltd. ADR (a)(b)............. 2,529 29,589 Tencent Holdings, Ltd. ....... 26,000 167,738 Tingyi Cayman Islands Holding Corp. ...................... 78,000 90,377 TPV Technology, Ltd. ......... 104,000 33,547 Travelsky Technology, Ltd. ... 62,000 27,199 Weiqiao Textile Co. .......... 33,000 11,411 Xinyu Hengdeli Holdings, Ltd. ....................... 200,000 30,967 Yanzhou Coal Mining Co., Ltd. ....................... 78,000 57,266 Zhejiang Expressway Co., Ltd. ....................... 98,000 57,534 Zijin Mining Group Co., Ltd. ....................... 106,000 64,282 ZTE Corp. .................... 15,040 39,394 ----------- TOTAL CHINA................... 9,322,596 ----------- CZECH REPUBLIC -- 1.1% CEZ AS........................ 5,434 220,824 Komercni Banka AS............. 592 91,043 Telefonica O2 Czech Republic AS.......................... 3,820 83,888 Unipetrol..................... 3,872 30,064 Zentiva NV.................... 1,488 83,059 ----------- TOTAL CZECH REPUBLIC.......... 508,878 ----------- EGYPT -- 0.8% Commercial International Bank........................ 14,987 100,616 Egyptian Co. for Mobile Services.................... 2,388 62,828 Egyptian Financial Group- Hermes Holding.............. 9,356 29,216 Egyptian Kuwait Holding Co. .. 12,013 15,737 Orascom Construction Industries.................. 3,769 95,052 Orascom Telecom Holding SAE... 3,886 20,941 Orascom Telecom Holding SAE GDR......................... 2,547 69,508 ----------- TOTAL EGYPT................... 393,898 ----------- HUNGARY -- 0.8% FHB Mortgage Bank NyRt (b).... 8,847 31,777 MOL Hungarian Oil and Gas NyRt (a)......................... 2,172 112,080 OTP Bank NyRt (a)(b).......... 7,858 118,114 Richter Gedeon NyRt........... 644 95,622 Tiszai Vegyi Kominat NyRt..... 914 11,493 ----------- TOTAL HUNGARY................. 369,086 ----------- INDIA -- 7.3% Ambuja Cements, Ltd. ......... 17,217 24,755 Bajaj Holdings & Investment, Ltd. (c).................... 28 126 Bajaj Holdings & Investment, Ltd. ....................... 1,173 5,279 Bharat Heavy Electricals, Ltd. ....................... 4,568 127,298 Bharti Airtel, Ltd. (b)....... 29,811 436,488 Cipla, Ltd. .................. 15,597 60,057 Dr. Reddy's Laboratories, Ltd. ADR (a)..................... 4,834 47,373 Gail India, Ltd. ............. 17,160 72,926 Grasim Industries, Ltd. (d)... 731 18,303 HCL Technologies, Ltd. ....... 4,387 10,382 HDFC Bank, Ltd. .............. 6,317 129,128 Hero Honda Motors, Ltd. ...... 4,991 82,185 Hindustan Lever, Ltd. ........ 39,625 203,371 Housing Development Finance Corp., Ltd. ................ 6,782 206,968 ICICI Bank, Ltd. ADR (a)...... 7,506 144,490 Indian Hotels Co., Ltd. ...... 21,453 19,815 Infosys Technologies, Ltd. ADR (a)......................... 13,069 321,105 ITC, Ltd. GDR (c)............. 20,595 72,581 ITC, Ltd. GDR................. 2,611 9,202 Larsen & Toubro, Ltd. GDR..... 5,349 86,654 Mahindra & Mahindra, Ltd. GDR......................... 4,583 26,123 Maruti Udyog, Ltd. ........... 3,766 40,118 Oil & Natural Gas Corp., Ltd. ....................... 11,164 153,070 Reliance Capital, Ltd. ....... 1,977 21,833 Reliance Communications, Ltd. ....................... 24,296 113,227 Reliance Industries, Ltd. GDR (c)......................... 10,360 532,504 Reliance Infrastructure, Ltd. ....................... 5,805 69,149 Satyam Computer Services, Ltd. ADR (a)..................... 7,466 67,493 Siemens India, Ltd. .......... 5,294 31,425 State Bank of India GDR (a)... 1,216 66,880
SPDR S&P EMERGING MARKETS ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- Suzlon Energy, Ltd. .......... 14,821 $ 18,967 Tata Consultancy Services, Ltd. ....................... 5,382 52,677 Tata Motors, Ltd. ADR (a)..... 6,265 27,879 Tata Power Co., Ltd. ......... 4,793 73,784 Tata Steel, Ltd. ............. 8,414 37,398 Wipro, Ltd. ADR (a)........... 7,871 63,991 ----------- TOTAL INDIA................... 3,475,004 ----------- INDONESIA -- 1.5% Astra International Tbk PT.... 79,000 76,463 Bank Central Asia Tbk PT...... 461,500 137,603 Bank Danamon Indonesia Tbk PT.......................... 63,500 18,060 Bank Mandiri Persero Tbk PT... 244,500 45,423 Bank Rakyat Indonesia PT...... 211,500 88,772 Barito Pacific Tbk PT (b)..... 220,000 12,110 Bumi Resources Tbk PT (c)(d).. 397,000 33,144 Indofood Sukses Makmur Tbk PT.......................... 291,500 24,871 Indosat Tbk PT................ 131,500 69,369 Kalbe Farma Tbk PT............ 320,000 11,743 Medco Energi Internasional Tbk PT (b)...................... 152,000 26,077 Perusahaan Gas Negara PT...... 333,000 56,824 Telekomunikasi Indonesia Tbk PT.......................... 167,000 105,716 United Tractors Tbk PT........ 86,000 34,716 ----------- TOTAL INDONESIA............... 740,891 ----------- ISRAEL -- 3.8% Avner Oil & Gas, Ltd. LP...... 769,051 52,329 Bank Hapoalim BM (b).......... 35,187 75,460 Bank Leumi Le-Israel BM....... 35,859 75,003 Check Point Software Technologies (a)(b)......... 5,924 112,497 Formula Systems (1985), Ltd. ....................... 4,661 29,469 Israel Chemicals, Ltd. ....... 16,188 112,720 Israel Discount Bank, Ltd. ... 30,924 27,837 Koor Industries, Ltd. (b)..... 804 8,515 Makhteshim-Agan Industries, Ltd. ....................... 13,967 45,410 Mizrahi Tefahot Bank, Ltd. ... 11,950 61,538 NICE Systems, Ltd. (b)........ 2,478 54,454 Ormat Industries, Ltd. ....... 7,030 43,554 Partner Communications Company, Ltd. .............. 4,727 76,969 Retalix, Ltd. (b)............. 3,210 19,122 Teva Pharmaceutical Industries, Ltd. ........... 23,359 1,000,658 The Israel Corp., Ltd. ....... 117 26,532 ----------- TOTAL ISRAEL.................. 1,822,067 ----------- JORDAN -- 0.4% Arab Bank PLC................. 7,995 171,011 ----------- MALAYSIA -- 3.1% Aeon Co. Bhd.................. 93,000 112,890 Alliance Financial Group Bhd.. 100,600 52,917 Berjaya Sports Toto Bhd....... 45,500 62,858 Bintulu Port Holdings Bhd..... 42,494 70,005 Bursa Malaysia Bhd............ 20,493 30,503 Carlsberg Brewery Bhd......... 149,297 155,338 Dialog Group Bhd.............. 151,900 34,902 Digi.Com Bhd.................. 13,000 81,907 Genting Bhd................... 78,600 84,052 IGB Corp. Bhd................. 105,900 42,238 IOI Corp. Bhd................. 118,600 122,028 KFC Holdings Bhd.............. 51,300 110,458 KNM Group Bhd................. 251,750 29,468 Malaysian Airline System Bhd.. 69,000 61,023 Malaysian Resources Corp. Bhd......................... 105,800 21,557 Multi Purpose Holdings Bhd.... 68,000 21,225 Naim Cendera Holding Bhd...... 63,587 26,464 OSK Holdings Bhd.............. 96,600 27,640 OSK Property Holdings Bhd..... 9,364 1,042 Padiberas Nasional Bhd........ 135,500 46,994 Resorts World Bhd............. 10,200 6,662 Sarawake Energy Bhd........... 114,834 76,999 SP Setia Bhd.................. 63,600 56,983 Sunrise Bhd (b)............... 105,476 43,593 Ta Enterprise Bhd............. 127,500 23,400 Tebrau Teguh Bhd (b).......... 8,900 1,067 UEM Land Holdings Bhd (b)..... 28,125 4,349 WCT Engineering Bhd........... 117,600 51,662 ----------- TOTAL MALAYSIA................ 1,460,224 ----------- MEXICO -- 6.4% Alfa SAB de CV (a)............ 13,847 29,497 America Movil SAB de CV (a)... 610,450 936,712 Axtel SAB de CV (a)(b)........ 42,424 22,516 Cemex SAB de CV............... 227,980 206,439 Coca-Cola Femsa SAB de CV..... 21,370 93,189 Consorcio ARA SAB de CV (a)... 42,151 15,980 Corporation GEO SAB de CV (b)......................... 17,897 20,161 Desarrolladora Homex SAB de CV (b)......................... 7,870 29,608 Empresas ICA SAB de CV (a).... 17,281 28,514 Fomento Economico Mexicano SAB de CV (a)................... 64,111 191,659 Grupo Aeroportuario del Sureste SAB de CV........... 16,702 62,280 Grupo Bimbo SAB de CV (a)..... 20,700 87,144 Grupo Elektra SA de CV (a).... 3,055 130,155 Grupo Financiero Banorte SAB de CV (a)................... 43,440 78,420 Grupo Iusacell SA de CV (a)(b)...................... 503 777 Grupo Mexico SAB de CV (a).... 138,595 89,071 Grupo Modelo SAB de CV (a).... 24,269 77,108 Grupo Televisa SA de CV (a)... 49,243 145,434 Impulsora Del Desarrollo Y El Empleo en America Latina SA de CV (b)................... 43,883 29,153 Industrias CH SAB, Series B (a)(b)...................... 11,277 28,420 Industrias Penoles SA de CV (a)......................... 3,908 47,973 Kimberly-Clark de Mexico SAB de CV....................... 22,729 75,498 Sare Holding SAB de CV (Class B) (a)(b)................... 50,122 10,641 Telefonos de Mexico SA de CV (a)......................... 175,882 182,251 Telmex Internacional SAB de CV (a)......................... 236,663 133,127 TV Azteca SAB de CV (a)....... 96,971 38,513 Urbi Desarrollos Urbanos SA de CV (a)(b)................... 18,887 25,776 Wal-Mart de Mexico SAB de CV (a)......................... 79,888 213,442 ----------- TOTAL MEXICO.................. 3,029,458 ----------- MOROCCO -- 1.1% Banque Marocaine du Commerce et l'Industrie SA (b)....... 589 67,001 Banque Marocaine du Commerce Exterieur................... 6,339 213,973 Douja Promotion Groupe Addoha SA.......................... 3,852 49,223 Holcim Maroc SA............... 368 86,816 ONA SA........................ 661 114,421 ----------- TOTAL MOROCCO................. 531,434 ----------- PERU -- 0.8% Companhia de Minas Buenaventura SA............. 6,990 141,381 Credicorp, Ltd. (a)........... 2,528 126,299 Southern Copper Corp. (a)..... 6,567 105,466 Volcan Cia Minera SA.......... 48,423 14,807 ----------- TOTAL PERU.................... 387,953 -----------
SPDR S&P EMERGING MARKETS ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- PHILIPPINES -- 0.6% Ayala Land, Inc. ............. 336,780 $ 45,329 Banco de Oro Universal Bank... 58,300 29,426 Bank of the Philippine Islands..................... 100,680 81,518 Filinvest Land, Inc. ......... 1,527,000 12,524 Philippine Long Distance Telephone Co. .............. 2,630 116,981 ----------- TOTAL PHILIPPINES............. 285,778 ----------- POLAND -- 1.7% Asseco Poland SA.............. 1,829 29,259 Bank BPH SA (b)............... 433 5,144 Bank Pekao SA................. 3,724 158,612 Bioton SA (b)................. 85,644 5,781 BRE Bank SA (b)............... 461 30,573 Cersanit Krasnystaw SA (b).... 4,267 19,845 Getin Holding SA (b).......... 7,291 12,230 Globe Trade Centre SA (b)..... 4,571 23,418 Grupa Lotos SA (b)............ 2,786 11,236 KGHM Polska Miedz SA.......... 3,993 37,895 Orbis SA...................... 1,908 20,960 PBG SA (b).................... 514 34,001 Polimex Mostostal SA.......... 17,862 18,386 Polski Koncern Naftowy Orlen GDR......................... 5,581 96,928 Powszechna Kasa Oszczednosci Bank Polski SA.............. 11,912 142,719 Telekomunikacja Polska SA..... 24,438 158,356 ----------- TOTAL POLAND.................. 805,343 ----------- RUSSIA -- 6.6% Comstar United Telesystems GDR......................... 11,543 45,595 Gazprom OAO ADR............... 92,179 1,313,551 JSC MMC Norilsk Nickel ADR (a)......................... 24,397 155,165 LUKOIL ADR.................... 14,831 475,334 Mechel OAO ADR (a)............ 4,360 17,440 Mobile Telesystems OJSC ADR... 5,833 155,624 NovaTek OAO GDR............... 3,006 57,565 OAO Rosneft Oil Co. GDR....... 38,095 142,856 Polyus Gold Co. ADR........... 4,960 59,123 Rostelecom ADR (a)............ 2,580 143,138 Severstal GDR................. 8,597 23,556 Surgutneftegaz ADR............ 64,807 330,516 Tatneft GDR................... 2,266 79,310 Vimpel-Communications ADR (a)......................... 13,093 93,746 VTB Bank OJSC GDR (c)......... 19,738 42,831 Wimm-Bill-Dann Foods OJSC ADR (a)(b)...................... 750 19,733 ----------- TOTAL RUSSIA.................. 3,155,083 ----------- SOUTH AFRICA -- 10.2% ABSA Group, Ltd. ............. 8,950 104,699 Adcock Ingram Holdings, Ltd. (b)......................... 2,752 11,609 Adcorp Holdings, Ltd. ........ 11,885 28,925 Afgri, Ltd. .................. 65,505 42,513 African Bank Investments, Ltd. ....................... 37,570 104,440 African Rainbow Minerals, Ltd. ....................... 4,335 52,048 Allied Electronics Corp., Ltd. ....................... 15,173 36,107 Anglo Platinum, Ltd. ......... 1,687 94,450 AngloGold Ashanti, Ltd. ...... 6,553 178,622 Aquarius Platinum, Ltd. ...... 10,044 25,199 ArcelorMittal South Africa, Ltd. ....................... 6,161 58,944 Aspen Pharmacare Holdings, Ltd. (b).................... 16,699 60,691 Aveng, Ltd. .................. 14,684 48,793 Avusa, Ltd. (b)............... 2,544 5,363 Barloworld, Ltd. ............. 6,282 28,396 Bidvest Group, Ltd. .......... 9,119 103,520 Business Connexion Group, Ltd. ....................... 54,063 21,344 Cadiz Holdings................ 35,377 6,582 Coronation Fund Managers, Ltd. ....................... 50,531 25,252 Discovery Holdings, Ltd. ..... 8,277 23,116 ElementOne, Ltd. (b).......... 5,039 6,513 Eqstra Holdings, Ltd. (b)..... 5,700 5,160 FirstRand, Ltd. .............. 139,842 243,684 Foschini, Ltd. ............... 8,280 42,990 Freeworld Coatings, Ltd. ..... 7,373 5,184 Gold Fields, Ltd. ............ 19,753 196,355 Grindrod, Ltd. ............... 24,715 40,902 Group Five, Ltd. ............. 7,016 26,941 Harmony Gold Mining Co., Ltd. (b)......................... 5,911 62,467 Impala Platinum Holdings, Ltd. ....................... 17,149 250,418 Imperial Holdings, Ltd. ...... 4,847 31,216 Investec, Ltd. ............... 5,359 24,340 Invicta Holdings, Ltd. ....... 14,992 37,314 JD Group, Ltd. ............... 5,276 20,916 Kagiso Media, Ltd. ........... 29,330 38,070 Kumba Iron Ore, Ltd. ......... 1,532 26,847 Lewis Group, Ltd. ............ 6,347 32,954 Massmart Holdings, Ltd. ...... 8,438 77,179 Metorex, Ltd. ................ 18,308 4,277 MTN Group, Ltd. .............. 48,319 567,075 Murray & Roberts Holdings, Ltd. ....................... 12,993 67,460 Mvelaphanda Resources, Ltd. (b)......................... 6,780 16,867 Naspers, Ltd. ................ 11,660 209,678 Nedbank Group, Ltd. .......... 13,595 140,435 Netcare, Ltd. ................ 55,271 50,219 Pretoria Portland Cement Co., Ltd. ....................... 5,380 18,244 PSG Group, Ltd. .............. 10,950 15,990 Reinet Investments SCA, ADR (b)......................... 4,419 4,636 Remgro, Ltd. ................. 11,342 93,779 RMB Holdings, Ltd. ........... 25,147 69,906 Sanlam, Ltd. ................. 54,779 100,729 Sappi, Ltd. .................. 7,464 30,357 Sasol, Ltd. .................. 13,357 404,568 Shoprite Holdings, Ltd. ...... 20,938 120,034 Standard Bank Group, Ltd. .... 26,528 238,164 Steinhoff International Holdings, Ltd. ............. 41,134 55,839 Sun International, Ltd. ...... 4,369 44,115 Super Group, Ltd. ............ 34,502 6,232 Telkom SA, Ltd. .............. 7,069 87,550 Tiger Brands, Ltd. ........... 5,160 80,060 Truworths International, Ltd. ....................... 19,095 70,432 Wilson Bayly Holmes-Ovcon, Ltd. ....................... 6,082 70,727 Woolworths Holdings, Ltd. .... 33,702 46,333 ----------- TOTAL SOUTH AFRICA............ 4,843,769 ----------- TAIWAN -- 11.0% Acer, Inc. ................... 76,812 99,707 Advanced Semiconductor Engineering, Inc. .......... 152,365 54,784 Asustek Computer, Inc. ....... 87,743 98,389 AU Optronics Corp. ADR (a).... 28,242 216,899 Cathay Financial Holding Co., Ltd. ....................... 116,550 129,626 Chang Hwa Commercial Bank..... 166,000 64,745 Chi Mei Optoelectronics Corp. GDR (e)..................... 7,625 25,093 Chi Mei Optoelectronics Corp. GDR (c)(e).................. 1,936 6,371 China Development Financial Holding Corp. .............. 354,758 78,263 China Steel Chemical Corp. ... 105,345 161,462
SPDR S&P EMERGING MARKETS ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- China Steel Corp. ............ 198,537 $ 139,747 Chinatrust Financial Holding Co., Ltd. .................. 219,767 93,082 Chunghwa Telecom Co., Ltd. ... 101,959 166,214 CMC Magnetics Corp. (b)....... 92,000 14,493 Compal Electronics, Inc. ..... 152,520 80,168 Delta Electronics, Inc. ...... 58,099 112,417 Elite Semiconductor Memory Technology, Inc. ........... 49,750 30,698 Epistar Corp. ................ 18,850 17,002 Far Eastern Textile Co., Ltd. ....................... 139,062 88,985 Formosa Chemicals & Fibre Corp. ...................... 76,000 92,632 Formosa Plastics Corp. ....... 105,000 139,497 Foxconn Technology Co., Ltd. ....................... 24,595 57,856 Fubon Financial Holding Co., Ltd. ....................... 166,000 120,891 Giant Manufacturing Co., Ltd. ....................... 65,800 146,164 Grape King, Inc. ............. 79,000 36,469 High Tech Computer Corp. ..... 24,170 240,831 Hon Hai Precision Industry Co., Ltd. .................. 101,360 198,285 Hotai Motor Co., Ltd. ........ 38,000 58,474 Hua Nan Financial Holdings Co., Ltd. .................. 149,560 83,853 Innolux Display Corp. ........ 53,700 39,680 Lite-On Technology Corp. ..... 77,894 50,912 MediaTek, Inc. ............... 15,251 102,470 Mosel Vitelic, Inc. (b)....... 10,000 2,224 Nan Ya Plastics Corp. ........ 114,000 122,622 National Petroleum Co., Ltd. ....................... 167,000 101,773 Novatek Microelectronics Corp., Ltd. ................ 15,145 14,352 POU Chen Corp. ............... 103,626 46,259 Powerchip Semiconductor Corp. (b)......................... 179,660 21,405 Powertech Technology, Inc. ... 24,395 40,586 Precision Silicon Corp. ...... 12,098 5,272 ProMOS Technologies, Inc. (b)......................... 170,000 12,588 Quanta Computer, Inc. ........ 98,599 103,953 Shin Kong Financial Holding Co., Ltd. .................. 104,883 28,443 Siliconware Precision Industries Co. ............. 76,578 65,336 SinoPac Financial Holdings Co., Ltd. .................. 241,000 52,506 Solar Applied Materials Technology Corp. ........... 49,541 62,647 Taishin Financial Holdings Co., Ltd. .................. 205,000 36,105 Taiwan Cement Corp. .......... 113,681 93,354 Taiwan Semiconductor Manufacturing Co., Ltd. ADR (a)......................... 134,997 1,066,476 Taiwan Tea Corp. (b).......... 64,000 23,597 Tatung Co., Ltd. (b).......... 184,000 34,145 Tripod Technology Corp. ...... 23,985 23,497 United Microelectronics Corp. ADR (a)..................... 98,583 193,223 Visual Photonics Epitaxy Co., Ltd. (b).................... 38,924 14,292 Wistron Corp. ................ 53,941 40,927 ----------- TOTAL TAIWAN.................. 5,251,741 ----------- THAILAND -- 1.6% Advanced Info Service PCL..... 47,415 107,018 Bangkok Expressway PCL........ 135,859 67,578 Banpu PCL..................... 5,608 37,086 Electricity Generating PCL.... 23,900 47,071 Electricity Generating PCL (foreign ownership limit)... 6,900 14,582 IRPC PCL...................... 346,958 21,548 Kasikornbank PCL.............. 22,500 29,111 PTT Exploration & Production PCL......................... 42,298 127,697 PTT PCL....................... 28,624 144,025 Siam Cement PCL............... 15,300 45,310 Siam Commercial Bank PCL...... 44,902 63,260 Thai Oil PCL.................. 42,695 28,971 Tisco Bank PCL Preference Shares...................... 70,919 18,862 TMB Bank PCL (b).............. 1,736,817 29,463 ----------- TOTAL THAILAND................ 781,582 ----------- TURKEY -- 1.6% Akbank TAS.................... 29,487 91,317 Anadolu Efes Biracilik Ve Malt Sanayii AS.................. 8,452 56,401 Dogan Sirketler Grubu Holdings AS (b)...................... 34,831 23,243 Dogan Yayin Holding AS (b).... 14,518 6,208 Eregli Demir ve Celik Fabrikalari TAS............. 19,084 50,940 Haci Omer Sabanci Holding AS.. 20,001 45,354 KOC Holding AS (b)............ 24,978 42,399 Migros Turk TAS............... 378 3,355 Tupras-Turkiye Petrol Rafinerileri AS............. 4,764 50,001 Turkcell Iletisim Hizmet AS... 18,072 102,449 Turkiye Garanti Bankasi AS (b)......................... 91,851 154,721 Turkiye Is Bankasi............ 30,480 80,964 Ulker Biskuvi Sanayi AS....... 19,966 22,767 Yapi ve Kredi Bankasi AS (b).. 31,594 42,985 ----------- TOTAL TURKEY.................. 773,104 ----------- UNITED KINGDOM -- 0.2% British American Tobacco PLC (b)......................... 2,817 74,732 ----------- TOTAL COMMON STOCKS -- (Cost $67,487,681).......... 45,649,918 ----------- PREFERRED STOCKS -- 0.0% (f) MALAYSIA -- 0.0% (f) Malaysian Airline System Bhd (b) (Cost $2,347)............... 7,900 1,667 ----------- RIGHTS -- 0.0% (f) CHINA -- 0.0% (f) China Overseas Land & Investment (expiring 01/21/09) (b)............... 3,200 1,148 ----------- MOROCCO -- 0.0% (f) Banque Marocaine pour le Commerce et l ' Industrie (expired 12/24/08) (b)............... 457 -- ----------- SOUTH AFRICA -- 0.0% (f) Metorex, Ltd. (expiring 01/23/09) (b)..... 5,416 134 ----------- TOTAL RIGHTS -- (Cost $0)................... 1,282 ----------- SHORT TERM INVESTMENTS -- 11.6% UNITED STATES -- 11.6% MONEY MARKET FUNDS -- 11.6% State Street Navigator Securities Lending Prime Portfolio (g)(h)............ 3,837,186 3,837,186 STIC Prime Portfolio.......... 1,666,154 1,666,154 ----------- TOTAL SHORT TERM INVESTMENTS -- (Cost $5,503,340)........... 5,503,340 ----------- TOTAL INVESTMENTS -- 107.5% (Cost $72,993,368).......... 51,156,207 OTHER ASSETS AND LIABILITIES -- (7.5)%....... (3,575,416) ----------- NET ASSETS -- 100.0%.......... $47,580,791 ===========
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Non-income producing security. SPDR S&P EMERGING MARKETS ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- (c) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 1.4% of net assets as of December 31, 2008, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. (d) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (e) Reflect separate holdings of the issuer's common stock traded on different securities exchanges. (f) Amount shown represents less than 0.05% of net assets. (g) Affiliated Fund managed by SSgA Funds Management, Inc. (h) Investments of cash collateral for securities loaned. ADR = American Depositary Receipt GDR = Global Depositary Receipt At December 31, 2008, open futures contracts purchased were as follows:
EXPIRATION AGGREGATE UNREALIZED FUTURES DATE CONTRACTS FACE VALUE VALUE APPRECIATION - ------- ---------- --------- ---------- ---------- ------------ MSCI Taiwan Stock Index............ 1/29/2009 130 $2,205,445 $2,267,200 $61,755
SPDR S&P EMERGING MARKETS ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Oil, Gas & Consumable Fuels........... 15.1% Commercial Banks...................... 14.6 Wireless Telecommunication Services... 9.6 Metals & Mining....................... 8.7 Semiconductors & Semiconductor Equipment........................... 3.5 Diversified Telecommunication Services............................ 3.3 Pharmaceuticals....................... 2.9 Insurance............................. 2.5 Construction & Engineering............ 2.1 Beverages............................. 2.0 Computers & Peripherals............... 2.0 Electric Utilities.................... 1.9 Chemicals............................. 1.8 Diversified Financial Services........ 1.8 Industrial Conglomerates.............. 1.6 Food Products......................... 1.6 Real Estate Management & Development.. 1.4 Electronic Equipment, Instruments & Components.......................... 1.3 Construction Materials................ 1.3 Food & Staples Retailing.............. 1.2 IT Services........................... 1.2 Independent Power Producers & Energy Traders............................. 1.1 Transportation Infrastructure......... 1.0 Media................................. 1.0 Specialty Retail...................... 1.0 Hotels, Restaurants & Leisure......... 0.9 Internet Software & Services.......... 0.8 Multiline Retail...................... 0.8 Automobiles........................... 0.7 Electrical Equipment.................. 0.6 Household Products.................... 0.6 Energy Equipment & Services........... 0.5 Thrifts & Mortgage Finance............ 0.5 Household Durables.................... 0.4 Software.............................. 0.4 Marine................................ 0.4 Leisure Equipment & Products.......... 0.4 Capital Markets....................... 0.4 Airlines.............................. 0.3 Tobacco............................... 0.3 Gas Utilities......................... 0.3 Communications Equipment.............. 0.2 Paper & Forest Products............... 0.2 Distributors.......................... 0.2 Machinery............................. 0.2 Water Utilities....................... 0.2 Personal Products..................... 0.2 Textiles, Apparel & Luxury Goods...... 0.2 Aerospace & Defense................... 0.1 Health Care Providers & Services...... 0.1 Trading Companies & Distributors...... 0.1 Building Products..................... 0.1 Road & Rail........................... 0.1 Professional Services................. 0.1 Air Freight & Logistics............... 0.1 Consumer Finance...................... 0.0** Biotechnology......................... 0.0** Short Term Investments................ 11.6 Other Assets & Liabilities............ (7.5) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. ** Amount represents less than 0.05% of net assets. SPDR S&P BRIC 40 ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008(UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ COMMON STOCKS -- 99.5% BRAZIL -- 23.7% Banco Bradesco SA ADR....... 431,562 $ 4,259,517 Banco Itau Holding Financeira SA ADR (a)..... 365,786 4,243,118 Companhia de Bebidas das Americas ADR (a).......... 41,602 1,843,385 Companhia Energetica de Minas Gerais ADR.......... 82,613 1,135,103 Companhia Siderurgica Nacional SA ADR (a)....... 117,859 1,509,774 Companhia Vale do Rio Doce ADR (a)................... 408,526 4,947,250 Gerdau SA ADR (a)........... 191,089 1,261,187 Petroleo Brasileiro SA ADR.. 282,113 6,908,947 Tele Norte Leste Participacoes SA ADR...... 81,569 1,135,440 Unibanco -- Uniao de Bancos Brasileiros SA GDR........ 33,379 2,156,951 ------------ TOTAL BRAZIL................ 29,400,672 ------------ CHINA -- 49.9% Baidu, Inc. ADR (b)......... 8,100 1,057,617 Bank of China, Ltd. ........ 11,069,000 3,027,829 Bank of Communications Co., Ltd. ..................... 1,467,000 1,058,106 China Communications Construction Co., Ltd. ... 1,294,000 1,596,170 China Construction Bank Corp. .................... 10,205,000 5,596,146 China Life Insurance Co., Ltd. ..................... 2,215,000 6,730,568 China Merchants Bank Co., Ltd. ..................... 730,000 1,352,584 China Merchants Holdings International Co., Ltd. .. 848 1,639 China Mobile, Ltd. ......... 1,231,500 12,362,352 China Overseas Land & Investment, Ltd. ......... 1,314,000 1,827,685 China Petroleum & Chemical Corp. .................... 4,992,000 3,020,887 China Shenhua Energy Co., Ltd. ..................... 886,500 1,875,900 China Telecom Corp., Ltd. .. 4,330,000 1,614,629 China Unicom , Ltd. ........ 2,210,000 2,651,932 CNOOC, Ltd. ................ 4,022,000 3,757,230 Industrial & Commercial Bank of China.................. 13,583,000 7,150,608 PetroChina Co., Ltd. ....... 6,074,000 5,321,470 Ping An Insurance Group Co. of China, Ltd. ........... 396,500 1,918,499 ------------ TOTAL CHINA................. 61,921,851 ------------ INDIA -- 5.9% HDFC Bank, Ltd. ADR (a)..... 14,535 1,037,508 ICICI Bank, Ltd. ADR (a).... 64,948 1,250,249 Infosys Technologies, Ltd. ADR (a)................... 132,803 3,262,970 Reliance Industries, Ltd. GDR (c)................... 33,891 1,741,997 ------------ TOTAL INDIA................. 7,292,724 ------------ RUSSIA -- 20.0% Gazprom OAO ADR............. 692,539 9,868,681 JSC MMC Norilsk Nickel ADR.. 254,858 1,620,897 LUKOIL ADR.................. 119,876 3,842,026 Mobile Telesystems OJSC ADR....................... 53,118 1,417,188 NovaTek OAO GDR............. 81,360 1,558,044 OAO Rosneft Oil Co. GDR (a)....................... 567,322 2,127,457 Rosneft OJSC GDR............ 5,891 22,091 Surgutneftegaz ADR.......... 544,489 2,776,894 Tatneft GDR(d).............. 28,155 985,425 Tatneft GDR(d).............. 366 12,810 Vimpel-Communications ADR (a)....................... 89,441 640,398 ------------ TOTAL RUSSIA................ 24,871,911 ------------ TOTAL COMMON STOCKS -- (Cost $251,785,640)....... 123,487,158 ------------ RIGHTS -- 0.0% (e) CHINA -- 0.0% (e) China Overseas Land & Investment, Ltd. (expiring 01/21/09) (b) (Cost $0)................. 52,560 18,853 ------------ SHORT TERM INVESTMENTS -- 12.3% UNITED STATES -- 12.3% MONEY MARKET FUNDS -- 12.3% State Street Navigator Securities Lending Prime Portfolio (f)(g).......... 10,429,034 10,429,034 STIC Prime Portfolio........ 4,761,362 4,761,362 ------------ TOTAL SHORT TERM INVESTMENTS -- (Cost $15,190,396)........ 15,190,396 ------------ TOTAL INVESTMENTS -- 111.8% (Cost $266,976,036)....... 138,696,407 OTHER ASSETS AND LIABILITIES -- (11.8)%.... (14,615,512) ------------ NET ASSETS -- 100.0%........ $124,080,895 ============
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Non-income producing security. (c) Security purchased pursuant to Rule 144A of the Securities Act of 1933. This security, which represents 1.4% of net assets as of December 31, 2008, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. (d) Reflects separate holdings of the issuer's common stock traded on different securities exchanges. (e) Amount shown represent less than 0.05% of net assets. (f) Affiliated Fund managed by SSgA Funds Management, Inc. (g) Investments of cash collateral for securities loaned. ADR = American Depositary Receipt GDR = Global Depositary Receipt SPDR S&P BRIC 40 ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008(UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Oil, Gas & Consumable Fuels........... 35.3% Commercial Banks...................... 25.1 Wireless Telecommunication Services... 11.0 Metals & Mining....................... 7.5 Insurance............................. 7.0 Diversified Telecommunication Services............................ 4.9 IT Services........................... 2.6 Real Estate Management & Development.. 1.5 Beverages............................. 1.5 Construction & Engineering............ 1.3 Electric Utilities.................... 0.9 Internet Software & Services.......... 0.9 Transportation Infrastructure......... 0.0** Short Term Investments................ 12.3 Other Assets & Liabilities............ (11.8) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. ** Amount represents less than 0.05% of net assets. SPDR S&P EMERGING EUROPE ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- COMMON STOCKS -- 98.9% CZECH REPUBLIC -- 7.5% CEZ AS........................ 29,257 $ 1,188,929 Komercni Banka AS............. 2,326 357,712 Telefonica O2 Czech Republic AS.......................... 23,973 526,451 Unipetrol..................... 23,016 178,708 Zentiva NV.................... 4,724 263,691 ----------- TOTAL CZECH REPUBLIC.......... 2,515,491 ----------- HUNGARY -- 5.5% Magyar Telekom NyRt........... 136,496 383,219 MOL Hungarian Oil and Gas NyRt (b)......................... 7,062 364,416 OTP Bank NyRt (a)............. 37,912 569,859 Richter Gedeon NyRt........... 3,589 532,899 ----------- TOTAL HUNGARY................. 1,850,393 ----------- POLAND -- 14.1% Agora SA...................... 21,251 116,188 Apator SA..................... 21,471 68,841 Asseco Poland SA.............. 9,360 149,735 Bank Pekao SA................. 15,478 659,238 Bank Zachodni WBK SA.......... 4,477 167,415 Bioton SA (a)................. 390,274 26,343 BRE Bank SA (a)............... 1,775 117,714 Cersanit Krasnystaw SA (a).... 20,593 95,772 Debica SA..................... 5,976 76,440 Echo Investment SA (a)........ 64,070 46,490 Getin Holding SA (a).......... 38,641 64,815 Globe Trade Centre SA (a)..... 25,519 130,739 ING Bank Slaski SA............ 1,209 175,454 KGHM Polska Miedz SA.......... 17,389 165,028 Netia SA (a).................. 107,187 86,820 Orbis SA...................... 9,474 104,077 PBG SA (a).................... 2,079 137,524 Polimex Mostostal SA.......... 85,537 88,049 Polski Koncern Naftowy Orlen SA.......................... 28,466 247,192 Powszechna Kasa Oszczednosci Bank Polski SA.............. 66,276 794,059 Telekomunikacja Polska SA..... 150,871 977,632 TVN SA........................ 39,988 181,653 Zaklad Przetworstwa Hutniczego Stalprodukt SA.............. 788 78,481 ----------- TOTAL POLAND.................. 4,755,699 ----------- RUSSIA -- 58.7% Comstar United Telesystems GDR......................... 108,391 428,144 CTC Media, Inc. (a)(b)........ 16,010 76,848 Evraz Group SA GDR............ 10,388 89,337 Gazprom Neft ADR.............. 44,161 456,625 Gazprom OAO ADR............... 422,016 6,013,728 Integra Group Holdings GDR (a)......................... 104,793 118,415 JSC MMC Norilsk Nickel ADR (b)......................... 163,280 1,038,461 LUKOIL ADR.................... 91,713 2,939,402 Mechel OAO ADR (b)............ 17,151 68,604 Mobile Telesystems OJSC ADR... 5,933 158,292 NovaTek OAO GDR............... 15,491 296,653 OAO Rosneft Oil Co. GDR....... 289,876 1,087,035 PIK Group GDR (a)............. 17,965 17,336 Polymetal GDR (a)............. 28,376 127,692 Polyus Gold Co. ADR........... 27,781 331,149 Rosneft OJSC GDR (b).......... 103,373 387,649 Rostelecom ADR (b)............ 22,924 1,271,823 Sberbank GDR.................. 10,110 1,405,340 Severstal GDR................. 110,100 301,674 Surgutneftegaz ADR............ 340,358 1,735,826 Tatneft GDR................... 6,097 213,395 Uralkali, GDR................. 25,867 230,475 Vimpel-Communications ADR..... 20,430 146,279 VTB Bank OJSC(c).............. 106,937 118 VTB Bank OJSC GDR (b)......... 374,410 812,470 ----------- TOTAL RUSSIA.................. 19,752,770 ----------- TURKEY -- 13.1% Akbank TAS.................... 147,153 455,712 Anadolu Anonim Turk Sigorta... 149,705 90,201 Anadolu Efes Biracilik Ve Malt Sanayii AS.................. 45,355 302,660 Arcelik....................... 39,949 53,317 Dogan Sirketler Grubu Holdings AS (a)...................... 137,264 91,598 Dogan Yayin Holding AS (a).... 145,262 62,114 Dogus Otomotiv Servis ve Ticaret AS.................. 62,643 71,835 Enka Insaat ve Sanayi AS...... 46,105 156,820 Eregli Demir ve Celik Fabrikalari TAS............. 93,382 249,261 Grundig Elektronik AS (a)..... 374,392 179,495 Haci Omer Sabanci Holding AS.. 99,082 224,676 Hurriyet Gazetecilik ve Gazetecilik AS (a).......... 133,279 56,127 KOC Holding AS (a)............ 111,014 188,440 Tupras-Turkiye Petrol Rafinerileri AS............. 19,321 202,786 Turk Hava Yollari Anonim Ortakligi(a)................ 47,344 174,837 Turkcell Iletisim Hizmet AS... 106,237 602,251 Turkiye Garanti Bankasi AS (a)......................... 389,624 656,315 Turkiye Is Bankasi............ 102,175 271,407 Vestel Elektronik Sanayi (a).. 118,153 65,066 Yapi ve Kredi Bankasi AS (a).. 184,865 251,517 ----------- TOTAL TURKEY.................. 4,406,435 ----------- TOTAL COMMON STOCKS -- (Cost $83,892,481).......... 33,280,788 ----------- SHORT TERM INVESTMENTS -- 8.5% UNITED STATES -- 8.5% MONEY MARKET FUNDS -- 8.5% State Street Navigator Securities Lending Prime Portfolio (d)(e)............ 2,079,838 2,079,838 STIC Prime Portfolio.......... 782,583 782,583 ----------- TOTAL SHORT TERM INVESTMENTS -- (Cost $2,862,421)........... 2,862,421 ----------- TOTAL INVESTMENTS -- 107.4% (Cost $86,754,902).......... 36,143,209 OTHER ASSETS AND LIABILITIES -- (7.4)%....... (2,493,264) ----------- NET ASSETS -- 100.0%.......... $33,649,945 ===========
(a) Non-income producing security. (b) Security, or portion thereof, was on loan at December 31, 2008. (c) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (d) Affiliated Fund managed by SSgA Funds Management, Inc. (e) Investments of cash collateral for securities loaned. ADR = American Depositary Receipt GDR = Global Depositary Receipt SPDR S&P EMERGING EUROPE ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Oil, Gas & Consumable Fuels........... 41.4% Commercial Banks...................... 13.5 Diversified Telecommunication Services............................ 11.3 Metals & Mining....................... 7.3 Diversified Financial Services........ 7.3 Electric Utilities.................... 3.5 Pharmaceuticals....................... 2.4 Wireless Telecommunication Services... 2.3 Media................................. 1.5 Industrial Conglomerates.............. 1.3 Household Durables.................... 0.9 Beverages............................. 0.9 Food & Staples Retailing.............. 0.7 Construction & Engineering............ 0.7 Chemicals............................. 0.5 Real Estate Management & Development.. 0.5 Airlines.............................. 0.5 Software.............................. 0.4 Energy Equipment & Services........... 0.4 Hotels, Restaurants & Leisure......... 0.3 Building Products..................... 0.3 Insurance............................. 0.3 Auto Components....................... 0.2 Distributors.......................... 0.2 Electronic Equipment.................. 0.2 Biotechnology......................... 0.1 Short Term Investments................ 8.5 Other Assets & Liabilities............ (7.4) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P EMERGING LATIN AMERICA ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ------------ COMMON STOCKS -- 99.1% ARGENTINA -- 2.1% Banco Macro SA ADR (a)....... 6,013 $ 65,061 Grupo Financiero Galicia SA ADR (a)(b)................. 16,398 37,060 Petrobras Energia Participaciones SA ADR (a)........................ 36,605 222,924 Telecom Argentina SA ADR (b)........................ 12,172 92,507 Tenaris SA ADR (a)........... 27,431 575,502 ------------ TOTAL ARGENTINA.............. 993,054 ------------ BRAZIL -- 59.2% AES Tiete SA Preference Shares..................... 25,504 162,408 Aracruz Celulose SA ADR (a).. 9,447 106,562 B2W Companhia Global Do Varejo..................... 15,783 161,079 Banco Bradesco SA Preference Shares ADR (a)............. 170,463 1,682,470 Banco do Brasil SA........... 54,037 340,164 Banco Itau Holding Financeira SA ADR (a)................. 165,157 1,915,821 Bradespar SA Preference Shares..................... 54,890 451,454 Brasil Telecom Participacoes SA ADR (a)................. 9,695 374,518 Braskem SA Preference Shares ADR (a).................... 16,151 78,009 Centrais Eletricas Brasileiras SA............. 4,800 53,290 Centrais Eletricas Brasileiras SA ADR......... 35,416 393,192 Companhia Brasileira de Distribuicao Grupo Pao de Acucar ADR (a)............. 10,431 287,478 Companhia de Bebidas das Americas Preference Shares ADR (a).................... 23,381 1,036,012 Companhia de Concessoes Rodoviarias................ 22,158 224,526 Companhia de Saneamento Basico do Estado de Sao Paulo...................... 20,788 247,459 Companhia Energetica de Minas Gerais ADR (a)............. 38,332 526,682 Companhia Energetica de Sao Paulo Preference Shares.... 31,360 202,926 Companhia Paranaense de Energia Preference Shares.. 17,161 176,614 Companhia Siderurgica Nacional SA ADR (a)........ 60,568 775,876 Companhia Vale do Rio Doce ADR (a).................... 182,986 2,215,960 Companhia Vale do Rio Doce Preference Shares ADR...... 224,143 2,387,123 Cosan SA Industria e Comercio (b)........................ 20,328 97,979 Cyrela Brazil Realty SA...... 42,467 167,537 Cyrela Commercial Properties SA Empreendimentos e Participacoes.............. 33,196 85,695 Duratex SA Preference Shares..................... 23,825 147,016 Empresa Brasileira de Aeronautica SA............. 60,719 229,389 Gafisa SA.................... 14,986 67,411 Gerdau SA ADR (a)............ 91,535 604,131 Gerdau SA Preference Shares.. 11,400 73,621 Gol Linhas Aereas Inteligentes SA Preference Shares..................... 19,479 82,777 Investimentos Itau SA........ 53,319 259,050 Investimentos Itau SA Preference Shares.......... 315,102 1,082,319 JBS SA....................... 94,467 199,709 Lojas Americanas SA Preference Shares.......... 83,679 224,986 Lojas Renner SA.............. 29,501 198,234 Metalurgica Gerdau SA Preference Shares.......... 50,989 440,360 Natura Cosmeticos SA......... 24,291 197,807 NET Servicos de Comunicacao SA Preference Shares (b)... 31,723 180,788 Perdigao SA ADR (a).......... 9,995 263,668 Petroleo Brasileiro SA ADR... 121,478 2,974,996 Petroleo Brasileiro SA ADR Preference Shares (a)...... 175,194 3,575,710 Sadia SA Preference Shares... 84,263 135,500 Souza Cruz SA................ 15,888 300,455 Tam SA ADR (a)............... 10,374 85,482 Tele Norte Leste Participacoes SA ADR....... 26,570 369,854 Tele Norte Leste Participacoes SA Preference Shares..................... 1,800 24,862 Tim Participacoes SA......... 20,900 26,439 Tim Participacoes SA ADR (a)........................ 12,332 154,027 Tractebel Energia SA ADR (a)........................ 3,155 24,924 Unibanco -- Uniao de Bancos Brasileiros SA GDR......... 13,755 888,848 Usinas Siderurgicas de Minas Gerais SA.................. 8,800 100,075 Usinas Siderurgicas de Minas Gerais SA ADR.............. 30,826 350,559 Vivo Participacoes SA Preference Shares (b)...... 21,857 264,683 Votorantim Celulose e Papel SA ADR (a)(b).............. 24,226 192,112 ------------ TOTAL BRAZIL................. 27,870,626 ------------ CHILE -- 8.8% Almendral SA................. 2,026,885 149,492 Antarchile SA................ 31,353 301,107 Banco de Credito e Inversiones................ 21,697 369,419 Banco Santander Chile ADR.... 2,421 84,808 CAP SA....................... 15,721 164,426 Cencosud SA ADR (c).......... 11,968 254,951 Companhia General de Electricidad............... 84,334 354,673 Empresa Nacional de Electricidad SA ADR........ 15,290 512,062 Empresas CMPC SA............. 20,021 312,607 Empresas COPEC SA............ 59,341 451,448 Enersis SA ADR............... 31,722 404,138 Lan Airlines SA ADR (a)...... 21,452 172,688 SACI Falabella............... 178,673 471,041 Sociedad Quimica y Minera de Chile SA ADR............... 5,901 143,925 ------------ TOTAL CHILE.................. 4,146,785 ------------ MEXICO -- 25.0% Alfa SAB de CV (a)........... 59,675 127,119 America Movil SAB de CV (a).. 2,343,096 3,595,392 Cemex SAB de CV (b).......... 901,221 816,068 Corporation GEO SAB de CV (a)(b)..................... 79,357 89,394 Desarrolladora Homex SAB de CV (b)..................... 39,094 147,077 Empresas ICA SAB de CV (a)(b)..................... 71,154 117,404 Fomento Economico Mexicano SAB de CV.................. 286,428 856,275 Grupo Aeroportuario del Sureste SAB de CV.......... 83,720 312,185 Grupo Bimbo SAB de CV (a).... 93,277 392,681 Grupo Carso SA de CV (a)..... 92,205 243,021 Grupo Financiero Banorte SAB de CV...................... 203,076 366,603
SPDR S&P EMERGING LATIN AMERICA ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ------------ Grupo Iusacell SA de CV (b).. 8,766 $ 13,540 Grupo Mexico SAB de CV....... 529,652 340,391 Grupo Modelo SAB de CV....... 168,284 534,679 Grupo Televisa SA ADR........ 1,436 21,454 Grupo Televisa SA de CV...... 182,397 538,689 Impulsora Del Desarrollo Y El Empleo en America Latina SA de CV (b).................. 230,915 153,404 Kimberly-Clark de Mexico SAB de CV...................... 127,169 422,412 Telefonos de Mexico SA de CV (a)........................ 876,354 908,090 Telmex Internacional SAB de CV (a)..................... 876,354 492,963 TV Azteca SAB de CV (a)...... 414,573 164,650 Urbi Desarrollos Urbanos SA de CV (a)(b)............... 95,992 131,007 Wal-Mart de Mexico SAB de CV (a)........................ 360,759 963,865 ------------ TOTAL MEXICO................. 11,748,363 ------------ PERU -- 4.0% Companhia de Minas Buenaventura SA............ 27,781 561,903 Companhia Minera Milpo SA.... 85,514 183,585 Credicorp, Ltd. ............. 12,233 611,160 Minsur SA.................... 109,968 126,098 Southern Copper Corp. (a).... 23,436 376,382 Volcan Cia Minera SA......... 153,295 46,875 ------------ TOTAL PERU................... 1,906,003 ------------ TOTAL COMMON STOCKS -- (Cost $96,181,266)......... 46,664,831 ------------ SHORT TERM INVESTMENTS -- 23.0% UNITED STATES -- 23.0% MONEY MARKET FUNDS -- 23.0% State Street Navigator Securities Lending Prime Portfolio (d)(e)........... 9,363,305 9,363,305 STIC Prime Portfolio......... 1,467,277 1,467,277 ------------ TOTAL SHORT TERM INVESTMENTS -- (Cost $10,830,582)......... 10,830,582 ------------ TOTAL INVESTMENTS -- 122.1% (Cost $107,011,848)........ 57,495,413 OTHER ASSETS AND LIABILITIES -- (22.1)%..... (10,419,917) ------------ NET ASSETS -- 100.0%......... $ 47,075,496 ============
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Non-income producing security. (c) Security purchased pursuant to Rule 144A of the securities Act of 1933. This security, which represents 0.5% of net assets as of December 31, 2008, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. (d) Affiliated Fund managed by SSgA Funds Management, Inc. (e) Investments of cash collateral for securities loaned. ADR = American Depositary Receipt GDR = Global Depositary Receipt SPDR S&P EMERGING LATIN AMERICA ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Metals & Mining....................... 18.6% Commercial Banks...................... 16.4 Oil, Gas & Consumable Fuels........... 14.4 Wireless Telecommunication Services... 8.6 Beverages............................. 5.2 Diversified Telecommunication Services............................ 5.1 Electric Utilities.................... 4.1 Food & Staples Retailing.............. 3.2 Industrial Conglomerates.............. 2.4 Food Products......................... 2.3 Media................................. 1.9 Multiline Retail...................... 1.9 Independent Power Producers & Energy Traders............................. 1.9 Construction Materials................ 1.7 Paper & Forest Products............... 1.3 Household Durables.................... 1.3 Energy Equipment & Services........... 1.2 Transportation Infrastructure......... 1.1 Diversified Financial Services........ 1.0 Household Products.................... 0.9 Airlines.............................. 0.7 Tobacco............................... 0.6 Construction & Engineering............ 0.6 Water Utilities....................... 0.5 Aerospace & Defense................... 0.5 Chemicals............................. 0.5 Biotechnology......................... 0.4 Internet & Catalog Retail............. 0.3 Building Products..................... 0.3 Real Estate Management & Development.. 0.2 Short Term Investments................ 23.0 Other Assets & Liabilities............ (22.1) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P EMERGING MIDDLE EAST & AFRICA ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ------------ COMMON STOCKS -- 99.3% EGYPT -- 5.5% Commercial International Bank....................... 181,934 $ 1,221,421 Eastern Tobacco.............. 20,112 656,867 Egyptian Financial Group- Hermes Holding............. 109,343 341,446 Egyptian Kuwait Holding Co. ....................... 229,309 300,395 ElSwedy Cables Holding Co. (a)........................ 22,756 305,547 Orascom Construction Industries................. 33,003 832,313 Orascom Telecom Holding SAE GDR (b).................... 33,617 917,408 Sidi Kerir Petrochemicals Co. ....................... 113,476 211,664 Six of October Development & Investment Co. (a)......... 13,477 101,116 Suez Cement Co. ............. 59,858 230,254 Telecom Egypt................ 186,157 540,442 ------------ TOTAL EGYPT.................. 5,658,873 ------------ ISRAEL -- 24.0% Africa-Israel Investments, Ltd. ...................... 3,656 29,039 Alvarion, Ltd. (a)(b)........ 40,802 148,111 Bank Hapoalim BM (a)......... 456,022 977,966 Bank Leumi Le-Israel BM...... 446,590 934,091 Bezeq Israeli Telecommunication Corp., Ltd. ...................... 489,529 803,569 Cellcom Israel, Ltd. ........ 15,566 344,009 Check Point Software Technologies (a)(b)........ 66,998 1,272,292 Delek Automotive Systems, Ltd. ...................... 87,694 450,427 Delek Group, Ltd. ........... 3,606 118,386 Elbit Imaging, Ltd. ......... 6,928 59,613 Elbit Systems, Ltd. ......... 28,615 1,308,396 Gazit Globe, Ltd. ........... 51,036 233,628 Harel Insurance Investments & Finances, Ltd. ............ 998 25,102 Israel Chemicals, Ltd. ...... 221,936 1,545,384 Israel Discount Bank, Ltd. .. 322,268 290,101 Makhteshim-Agan Industries, Ltd. ...................... 150,084 487,962 Mellanox Technologies, Ltd. (a)........................ 33,610 264,175 Mizrahi Tefahot Bank, Ltd. .. 120,490 620,474 NICE Systems, Ltd. (a)....... 26,920 591,570 Oil Refineries, Ltd. ........ 572,621 144,027 Ormat Industries, Ltd. ...... 4,890 30,296 Partner Communications Company, Ltd. ............. 28,923 470,946 RADVision, Ltd. (a)(b)....... 16,385 88,315 Syneron Medical, Ltd. (a)(b)..................... 12,151 101,339 Teva Pharmaceutical Industries, Ltd. .......... 301,958 12,935,347 The Israel Corp., Ltd. ...... 1,143 259,195 ------------ TOTAL ISRAEL................. 24,533,760 ------------ MOROCCO -- 9.3% Attijariwafa Bank............ 69,407 2,209,813 Banque Centrale Populaire.... 2,189 649,579 Banque Marocaine Du Commerce et l'Industrie SA.......... 5,588 635,651 Banque Marocaine du Commerce Exterieur.................. 91,097 3,074,976 Ciments du Maroc............. 3,439 850,427 Douja Promotion Groupe Addoha SA......................... 34,094 435,676 ONA SA....................... 9,557 1,654,339 ------------ TOTAL MOROCCO................ 9,510,461 ------------ SOUTH AFRICA -- 60.5% ABSA Group, Ltd. ............ 119,170 1,394,076 Adcock Ingram Holdings, Ltd. (a)........................ 86,164 363,483 African Bank Investments, Ltd. ...................... 238,685 663,516 African Rainbow Minerals, Ltd. ...................... 36,945 443,580 Anglo Platinum, Ltd. ........ 21,132 1,183,118 AngloGold Ashanti, Ltd. ..... 73,634 2,007,114 Aquarius Platinum, Ltd. ..... 111,685 280,204 ArcelorMittal South Africa, Ltd. ...................... 74,640 714,106 Aspen Pharmacare Holdings, Ltd. (a)................... 208,802 758,869 Assore, Ltd. ................ 5,005 262,566 Aveng, Ltd. ................. 196,059 651,480 Avusa, Ltd. (a).............. 93,942 198,045 Barloworld, Ltd. ............ 67,536 305,282 Bidvest Group, Ltd. ......... 109,366 1,241,532 DataTec, Ltd. ............... 145,638 258,352 Discovery Holdings, Ltd. .... 145,943 407,599 ElementOne, Ltd. (a)......... 105,238 136,030 Eqstra Holdings, Ltd. (a).... 118,736 107,498 Exxaro Resources, Ltd. ...... 63,514 493,960 FirstRand, Ltd. ............. 1,861,514 3,243,807 Foschini, Ltd. .............. 95,382 495,223 Fountainhead Property Trust.. 872,242 538,724 Freeworld Coatings, Ltd. .... 181,379 127,525 Gold Fields, Ltd. ........... 256,273 2,547,484 Grindrod, Ltd. .............. 247,070 408,888 Growthpoint Properties, Ltd. ...................... 488,449 792,508 Harmony Gold Mining Co., Ltd. (a)........................ 119,386 1,261,656 Hyprop Investments, Ltd. .... 118,115 536,596 Impala Platinum Holdings, Ltd. ...................... 204,406 2,984,836 Imperial Holdings, Ltd. ..... 71,664 461,533 Investec, Ltd. .............. 79,087 359,206 JD Group, Ltd. .............. 57,643 228,514 Kumba Iron Ore, Ltd. ........ 32,469 568,989 Massmart Holdings, Ltd. ..... 92,243 843,707 Metorex, Ltd. ............... 175,245 40,944 MTN Group, Ltd. ............. 570,268 6,692,707 Murray & Roberts Holdings, Ltd. ...................... 126,036 654,378 Mvelaphanda Resources, Ltd. (a)........................ 86,249 214,573 Naspers, Ltd. ............... 137,076 2,464,996 Nedbank Group, Ltd. ......... 172,263 1,779,461 Netcare, Ltd. ............... 638,012 579,697 Pick'n Pay Stores, Ltd. ..... 165,037 642,832 Pretoria Portland Cement Co., Ltd. ...................... 143,711 487,327 PSG Group, Ltd. ............. 106,134 154,982 Remgro, Ltd. ................ 168,945 1,396,880 Reunert, Ltd. ............... 87,149 477,929 RMB Holdings, Ltd. .......... 321,724 894,354 Sanlam, Ltd. ................ 731,771 1,345,604 Sappi, Ltd. ................. 91,125 370,611 Sasol, Ltd. ................. 215,034 6,513,123 Shoprite Holdings, Ltd. ..... 227,227 1,302,653 Standard Bank Group, Ltd. ... 381,370 3,423,874 Steinhoff International Holdings, Ltd. ............ 489,611 664,642 Sun International, Ltd. ..... 40,729 411,255 Super Group, Ltd. ........... 327,212 59,107 Telkom SA, Ltd. ............. 84,065 1,041,151 Tiger Brands, Ltd. .......... 73,423 1,139,188 Truworths International, Ltd. ...................... 213,845 788,763 Wilson Bayly Holmes-Ovcon, Ltd. ...................... 39,497 459,310 Woolworths Holdings, Ltd. ... 380,908 523,671 ------------ TOTAL SOUTH AFRICA........... 61,793,618 ------------ TOTAL COMMON STOCKS -- (Cost $156,090,940)........ 101,496,712 ------------
SPDR S&P EMERGING MIDDLE EAST & AFRICA ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ------------ RIGHTS -- 0.0% (c) MOROCCO -- 0.0% (c) Banque Marocaine pour le Commerce et l ' Industrie (expired 12/24/08) (a)..... 5,775 $ -- ------------ SOUTH AFRICA -- 0.0% (c) Growthpoint Properties, Ltd. (expiring 1/30/09) (a)..... 48,844 9,774 Metorex, Ltd. (expiring 01/23/09) (a).............. 61,230 1,523 ------------ TOTAL SOUTH AFRICA........... 11,297 ------------ TOTAL RIGHTS -- (Cost $0).................. 11,297 ------------ SHORT TERM INVESTMENTS -- 4.4% UNITED STATES -- 4.4% MONEY MARKET FUNDS -- 4.4% State Street Navigator Securities Lending Prime Portfolio (d)(e)........... 1,170,585 1,170,585 STIC Prime Portfolio......... 3,297,102 3,297,102 ------------ TOTAL SHORT TERM INVESTMENTS -- (Cost $4,467,687).......... 4,467,687 ------------ TOTAL INVESTMENTS -- 103.7% (Cost $160,558,627)........ 105,975,696 OTHER ASSETS AND LIABILITIES -- (3.7)%...... (3,822,001) ------------ NET ASSETS -- 100.0%......... $102,153,695 ============
(a) Non-income producing security. (b) Security, or portion thereof, was on loan at December 31, 2008. (c) Amount shown represents less than 0.05% of net assets. (d) Affiliated Fund managed by SSgA Funds Management, Inc. (e) Investments of cash collateral for securities loaned. GDR = Global Depositary Receipt SPDR S&P EMERGING MIDDLE EAST & AFRICA ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Commercial Banks...................... 16.8% Pharmaceuticals....................... 13.8 Metals & Mining....................... 12.7 Wireless Telecommunication Services... 7.4 Oil, Gas & Consumable Fuels........... 6.5 Diversified Financial Services........ 6.2 Industrial Conglomerates.............. 4.4 Construction & Engineering............ 2.8 Media................................. 2.7 Food & Staples Retailing.............. 2.7 Real Estate Management & Development.. 2.7 Chemicals............................. 2.6 Diversified Telecommunication Services............................ 2.3 Specialty Retail...................... 2.0 Insurance............................. 1.7 Construction Materials................ 1.5 Aerospace & Defense................... 1.3 Software.............................. 1.2 Food Products......................... 1.1 Capital Markets....................... 1.0 Communications Equipment.............. 0.7 Household Durables.................... 0.7 Tobacco............................... 0.6 Health Care Providers & Services...... 0.6 Multiline Retail...................... 0.5 Electronic Equipment, Instruments & Components.......................... 0.5 Distributors.......................... 0.5 Hotels, Restaurants & Leisure......... 0.4 Marine................................ 0.4 Paper & Forest Products............... 0.4 Electrical Equipment.................. 0.3 Trading Companies & Distributors...... 0.1 Health Care Equipment & Supplies...... 0.1 Internet Software & Services.......... 0.1 Short Term Investments................ 4.4 Other Assets & Liabilities............ (3.7) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P WORLD EX-US ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- COMMON STOCKS -- 98.9% AUSTRALIA -- 5.1% Abacus Property Group......... 100,148 $ 15,012 Alesco Corp, Ltd. ............ 10,747 20,830 Alumina, Ltd. (a)............. 14,687 14,233 AMP, Ltd. (a)................. 13,204 49,896 Ansell, Ltd. ................. 9,045 79,016 APA Group(a).................. 38,060 79,606 Aristocrat Leisure, Ltd. (a).. 5,856 15,841 Asciano Group................. 18,354 19,323 Australia & New Zealand Banking Group, Ltd. (a)..... 6,419 68,428 Babcock & Brown, Ltd. (a)..... 6,980 754 BHP Billiton, Ltd. (a)........ 19,566 415,245 Billabong International, Ltd. ....................... 6,057 33,150 BlueScope Steel, Ltd. ........ 8,258 20,151 Brambles, Ltd. ............... 12,061 62,394 Bunnings Warehouse Property Trust....................... 105,858 121,777 Carindale Property Trust...... 18,385 44,863 Commonwealth Bank of Australia................... 5,148 103,727 Computershare, Ltd. .......... 7,368 40,068 ConnectEast Group............. 84,240 32,303 CSL, Ltd. .................... 4,294 100,890 CSR, Ltd. (a)................. 28,113 34,497 DUET Group.................... 59,894 72,241 Envestra, Ltd. ............... 269,702 68,633 GWA International, Ltd. ...... 28,685 57,998 Harvey Norman Holdings, Ltd. (a)......................... 22,213 41,040 Hills Industries, Ltd. ....... 22,291 48,178 Insurance Australia Group, Ltd. ....................... 16,108 43,687 Lend Lease Corp., Ltd. ....... 5,541 27,815 Macquarie Airports............ 21,154 35,397 Macquarie Group, Ltd. ........ 1,860 37,361 Mirvac Real Estate Investment Trust....................... 158,221 35,300 National Australia Bank, Ltd. ....................... 6,649 96,744 Newcrest Mining, Ltd. ........ 4,001 94,536 OZ Minerals, Ltd. (a)(b)...... 18,548 7,113 Perpetual, Ltd. (a)........... 1,383 35,763 Rio Tinto, Ltd. (a)........... 1,771 46,920 Sonic Healthcare, Ltd. ....... 6,796 68,988 Suncorp-Metway, Ltd. ......... 7,298 42,741 Tatts Group, Ltd. ............ 17,604 34,243 Thakral Holdings Group........ 186,767 49,481 Toll Holdings, Ltd. .......... 7,127 30,658 Virgin Blue Holdings, Ltd. ... 18,717 3,915 Wesfarmers, Ltd. (a).......... 2,962 37,172 Westpac Banking Corp. (a)..... 6,787 80,300 Woodside Petroleum, Ltd. ..... 3,936 100,711 Woolworths, Ltd. ............. 7,709 143,344 WorleyParsons, Ltd. .......... 2,606 25,673 ----------- TOTAL AUSTRALIA............... 2,737,956 ----------- AUSTRIA -- 0.2% Erste Bank der Oesterreichischen Sparkassen AG (a)...................... 1,458 32,832 OMV AG........................ 1,842 47,932 voestalpine AG................ 1,234 25,799 ----------- TOTAL AUSTRIA................. 106,563 ----------- BELGIUM -- 0.7% Anheuser-Busch InBev NV....... 1,704 10 Bekaert NV.................... 634 42,584 Delhaize Group................ 1,116 68,567 Dexia SA (a).................. 4,755 21,151 Gimv NV....................... 1,230 53,003 InBev NV...................... 3,161 72,852 KBC Groep NV.................. 1,192 35,541 UCB SA........................ 1,500 48,582 Umicore....................... 2,185 42,734 ----------- TOTAL BELGIUM................. 385,024 ----------- CANADA -- 6.7% AGF Management, Ltd. ......... 2,447 18,831 Agrium, Inc. ................. 1,665 55,932 Bank of Montreal.............. 2,500 63,285 Bank of Nova Scotia........... 3,974 107,229 Barrick Gold Corp. ........... 6,275 227,262 Bombardier, Inc. ............. 12,436 44,828 Brookfield Asset Management, Inc. (Class A) (a).......... 3,211 48,249 Brookfield Infrastructure Partners LP (a)............. 6 67 CAE, Inc. .................... 3,922 25,734 Cameco Corp. ................. 2,844 48,494 Canadian Imperial Bank of Commerce.................... 1,964 81,280 Canadian National Railway Co. (a)......................... 3,311 120,102 Canadian Natural Resources, Ltd. (a).................... 3,351 132,330 Canadian Oil Sands Trust...... 3,063 52,353 Canadian Pacific Railway, Ltd. ....................... 1,573 52,217 Canadian Western Bank(a)...... 3,889 39,000 CGI Group, Inc. (Class A) (c)......................... 7,670 59,645 Crescent Point Energy Trust(a).................... 4,803 93,726 EnCana Corp. ................. 4,085 188,482 Fairfax Financial Holdings, Ltd. (a).................... 190 60,024 First Quantum Minerals, Ltd. ....................... 771 10,998 Gildan Activewear, Inc. (a)(c)...................... 2,216 25,472 Goldcorp, Inc. ............... 5,016 155,986 Husky Energy, Inc. (a)........ 2,641 66,041 Imperial Oil, Ltd. (a)........ 2,660 88,322 International Royalty Corp. (a)......................... 12,072 16,428 Kinross Gold Corp. ........... 4,930 89,854 Magna International, Inc. (Class A)................... 1,333 39,682 Manulife Financial Corp. ..... 9,386 158,144 MDS, Inc.(c).................. 4,127 25,240 Nexen, Inc. .................. 3,454 60,015 Nortel Networks Corp. (a)(c).. 8,318 2,156 OPTI Canada, Inc. (a)(c)...... 4,322 6,302 Petro-Canada.................. 3,599 77,898 Potash Corp. of Saskatchewan, Inc. ....................... 2,188 158,699 Research In Motion, Ltd. (c).. 2,940 117,886 Rogers Communications, Inc. (Class B)................... 3,328 98,640 Royal Bank of Canada (a)(d)... 5,985 177,515 Royal Bank of Canada (a)(d)... 225 6,580 Russel Metals, Inc. (a)....... 3,040 46,788 Shaw Communications, Inc. (a)......................... 3,601 63,036 Sherritt International Corp. ...................... 4,279 10,953 Sun Life Financial, Inc. ..... 3,416 78,697 Suncor Energy, Inc. .......... 6,032 115,900 Talisman Energy, Inc. ........ 7,476 73,761 Teck Cominco, Ltd. (Class B).. 3,266 15,927 TELUS Corp. (Non-Voting)...... 1,645 46,505 TMX Group, Inc. (a)........... 1,818 37,096 Toronto-Dominion Bank......... 4,050 142,546 TransCanada Corp. ............ 3,916 105,220 ----------- TOTAL CANADA.................. 3,637,357 ----------- CHINA -- 2.3% Bank of East Asia, Ltd. ...... 16,740 34,991 Chong Hing Bank, Ltd. ........ 30,000 35,805 CLP Holdings, Ltd. ........... 21,000 142,525
SPDR S&P WORLD EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- Dah Sing Banking Group, Ltd. ....................... 40,870 $ 29,373 Dah Sing Financial Holdings, Ltd. ....................... 6,017 15,434 Esprit Holdings, Ltd. ........ 12,800 72,504 Giordano International, Ltd. ....................... 174,000 43,779 Hang Lung Group, Ltd. ........ 30,000 90,772 Hang Lung Properties, Ltd. ... 31,000 67,358 Hong Kong Exchanges and Clearing, Ltd. ............. 9,000 85,469 Hong Kong Land Holdings, Ltd. (a)......................... 18,000 44,640 Hopewell Holdings............. 15,000 49,354 Hysan Development Co., Ltd. .. 30,321 48,982 Li & Fung, Ltd. .............. 32,000 54,832 New World Development Co., Ltd. ....................... 32,137 32,592 Pacific Basin Shipping, Ltd. ....................... 60,000 27,251 Sino Land Co., Ltd. .......... 34,974 36,192 Swire Pacific, Ltd. .......... 13,000 89,488 The Link REIT................. 33,868 55,935 Transport International Holdings, Ltd. ............. 18,400 45,821 Wheelock & Co., Ltd. ......... 44,000 96,514 Wing Hang Bank, Ltd. ......... 7,500 43,209 ----------- TOTAL CHINA................... 1,242,820 ----------- DENMARK -- 0.8% A P Moller -- Maersk A/S...... 15 78,717 Bang & Olufsen A/S (Class B).. 611 6,732 DSV A/S(a).................... 4,036 42,586 FLSmidth & Co. A/S (a)........ 956 32,315 GN Store Nord A/S (a)(c)...... 6,442 12,271 Novo-Nordisk A/S (Class B).... 3,141 158,967 SimCorp A/S................... 298 32,891 Vestas Wind Systems A/S (c)... 1,330 75,384 ----------- TOTAL DENMARK................. 439,863 ----------- FINLAND -- 1.8% Amer Sports Oyj (Class A) (a)......................... 4,219 31,434 Elisa Oyj..................... 2,451 41,906 Fortum Oyj.................... 3,233 68,444 Kemira Oyj (a)................ 3,454 28,519 Kesko Oyj (Class B) (a)....... 1,562 38,648 Kone Oyj (Class B)............ 3,178 68,605 Konecranes Oyj................ 2,103 35,313 Lassila & Tikanoja Oyj........ 3,269 49,985 Metso Oyj..................... 1,622 19,210 Neste Oil Oyj (a)............. 2,574 37,855 Nokia Oyj..................... 11,778 181,729 Pohjola Bank PLC.............. 4,785 64,851 Rautaruukki Oyj............... 1,341 22,667 Sampo Oyj (Class A)........... 3,104 57,127 SanomaWSOY Oyj (a)............ 3,124 39,995 Stockmann Oyj (Class B) (a)... 2,152 29,226 Stora Enso Oyj (a)............ 5,280 40,514 UPM-Kymmene Oyj............... 3,845 48,103 Uponor Oyj.................... 1,994 21,342 Wartsila Oyj (Class B) (a).... 1,162 33,936 YIT Oyj (a)................... 2,387 15,197 ----------- TOTAL FINLAND................. 974,606 ----------- FRANCE -- 8.9% Accor SA (a).................. 1,419 69,254 Air France-KLM (a)............ 1,503 19,158 Air Liquide SA................ 1,247 113,451 Alcatel-Lucent (a)(c)......... 18,293 38,981 Alstom SA..................... 1,275 74,402 AXA........................... 9,274 204,263 BNP Paribas SA................ 3,806 160,039 Bourbon SA (a)................ 1,091 27,358 Bouygues SA................... 1,663 69,812 CA Ile de France CCI.......... 604 36,044 Cap Gemini SA................. 1,256 48,012 Carrefour SA (a).............. 3,405 130,255 Casino Guichard-Perrachon SA.. 700 52,836 Cie de Saint-Gobain (a)....... 2,043 95,406 Cie Generale de Geophysique- VeritAS (a)(c).............. 1,490 21,954 Cie Generale des Etablissements Michelin(a).. 1,001 52,276 Credit Agricole SA............ 3,808 42,347 Electricite de France......... 1,618 93,338 Essilor International SA (a).. 1,855 86,562 France Telecom SA............. 9,560 265,246 GDF Suez (a).................. 7,252 356,099 Groupe Danone (a)............. 2,802 168,183 Guyenne et Gascogne SA (a).... 717 61,295 Hermes International (a)...... 656 91,187 L'Oreal SA (a)................ 1,287 111,454 Lafarge SA (a)................ 945 56,944 Lagardere SCA (a)............. 1,532 61,757 LVMH Moet Hennessy Louis Vuitton SA (a).............. 1,098 72,910 Nexans SA (a)................. 458 27,089 Pernod -- Ricard SA (a)....... 1,360 100,138 PPR (a)....................... 557 36,080 PSA Peugeot Citroen (a)....... 1,326 22,395 Publicis Groupe (a)........... 1,762 45,054 Renault SA (a)................ 1,205 31,071 Rhodia SA (a)................. 1,533 9,598 Sanofi-Aventis................ 5,232 330,182 Schneider Electric SA......... 1,384 101,963 Societe Generale.............. 2,193 109,742 Sodexo(a)..................... 1,019 56,056 Suez SA (a)(c)................ 1,816 30,418 Technip SA.................... 1,157 35,077 Thomson (a)(c)................ 10,580 14,118 Total SA...................... 12,151 657,209 Unibail-Rodamco............... 429 63,509 Valeo SA (a).................. 1,282 18,916 Vallourec SA (a).............. 402 45,263 Veolia Environnement (a)...... 2,589 79,894 Vinci SA (a).................. 2,674 111,510 Vivendi SA.................... 6,624 214,217 ----------- TOTAL FRANCE.................. 4,820,322 ----------- GERMANY -- 7.5% Adidas AG..................... 1,705 64,323 Allianz SE.................... 2,335 243,432 BASF SE....................... 4,538 174,922 Bayer AG (a).................. 4,217 243,559 Bayerische Motoren Werke AG (a)......................... 1,933 58,065 Bilfinger Berger AG........... 671 34,809 Commerzbank AG (a)............ 4,158 38,378 Continental AG (c)(d)......... 272 27,520 Continental AG (d)............ 10 402 Daimler AG.................... 5,355 198,747 Deutsche Bank AG.............. 2,724 105,378 Deutsche Boerse AG............ 1,287 90,881 Deutsche Post AG.............. 4,659 77,132 Deutsche Telekom AG........... 16,294 243,482 E.ON AG....................... 10,643 420,750 Fresenius Medical Care AG & Co. KGaA.................... 1,532 70,936
SPDR S&P WORLD EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- GEA Group AG.................. 2,307 $ 38,963 Hochtief AG................... 764 37,956 Hypo Real Estate Holding AG (a)......................... 1,341 5,685 Infineon Technologies AG (a)(c)...................... 7,535 10,055 IVG Immobilien AG (a)......... 1,341 10,662 Lanxess AG.................... 1,383 26,395 Linde AG...................... 798 66,389 MAN AG........................ 775 41,713 Merck KGaA.................... 585 52,458 Muenchener Rueckversicherungs- Gesellschaft AG............. 1,328 204,904 Porsche Automobil Holding SE (a)......................... 576 43,917 Puma AG Rudolf Dassler Sport.. 135 26,328 Rheinmetall AG................ 818 26,039 RWE AG........................ 2,724 241,200 Salzgitter AG................. 416 31,804 SAP AG........................ 5,224 183,283 Siemens AG.................... 4,751 347,905 ThyssenKrupp AG............... 2,290 60,354 TUI AG (a).................... 2,981 33,336 Volkswagen AG................. 1,246 433,000 Wincor Nixdorf AG............. 987 46,250 ----------- TOTAL GERMANY................. 4,061,312 ----------- GREECE -- 0.4% Hellenic Telecommunications Organization SA ADR (a)..... 10,168 84,496 National Bank of Greece SA ADR (a)......................... 28,249 107,629 ----------- TOTAL GREECE.................. 192,125 ----------- IRELAND -- 0.8% Anglo Irish Bank Corp PLC..... 5,635 1,339 Bank of Ireland............... 5,560 6,446 C&C Group PLC................. 4,801 9,677 CRH PLC....................... 3,290 81,633 DCC PLC....................... 2,348 34,107 Elan Corp. PLC (c)............ 2,960 17,137 Fanuc, Ltd. ADR (c)........... 109 638 Grafton Group PLC (c)......... 5,683 18,209 Independent News & Media PLC.. 17,233 10,061 Kingspan Group PLC............ 2,425 10,517 Ryanair Holdings PLC ADR (a)(c)...................... 7,126 207,224 United Drug PLC............... 17,824 55,251 ----------- TOTAL IRELAND................. 452,239 ----------- ITALY -- 3.1% Assicurazioni Generali SpA.... 6,054 164,015 Atlantia SpA.................. 3,065 55,813 Banca Italease SpA (c)........ 1,299 4,004 Banca Piccolo Credito Valtellinese Scarl.......... 6,662 64,870 Banca Popolare dell'Etruria e del Lazio Scrl.............. 5,934 32,994 Banca Popolare di Milano Scarl (a)......................... 5,888 34,232 Banco Popolare Societa Cooperativa Scarl........... 3,055 21,021 Davide Campari-Milano SpA..... 8,271 55,186 Enel SpA...................... 19,083 119,965 Eni SpA....................... 12,600 293,195 Fiat SpA...................... 5,365 34,230 Finmeccanica SpA.............. 2,916 44,141 Fondiaria -Sai SpA............ 1,518 27,009 IFIL Investments SpA (a)...... 8,036 20,185 Intesa Sanpaolo SpA........... 54,229 191,279 Parmalat SpA.................. 23,835 38,599 Pirelli & C. SpA.............. 93,636 34,232 Saipem SpA.................... 3,275 53,810 Seat Pagine Gialle SpA (a)(c)...................... 194,588 15,715 Societa Cattolica di Assicurazioni Scrl.......... 1,588 55,450 Telecom Italia SpA............ 78,547 125,562 UniCredit SpA................. 53,910 130,766 Unione di Banche Italiane ScpA........................ 5,074 72,576 ----------- TOTAL ITALY................... 1,688,849 ----------- JAPAN -- 22.5% Advantest Corp. (a)........... 1,800 28,395 Aeon Co., Ltd. (a)............ 5,820 57,269 Aoyama Trading Co., Ltd. ..... 3,000 47,027 Asahi Breweries, Ltd. (a)..... 5,436 92,289 Asahi Kasei Corp. (a)......... 14,550 62,598 Astellas Pharma, Inc. ........ 2,910 116,528 Bridgestone Corp. (a)......... 4,365 63,898 Canon, Inc. (a)............... 5,916 180,776 Casio Computer Co., Ltd. ..... 4,100 25,283 Central Japan Railway Co. .... 15 128,571 Chubu Electric Power Co., Inc. ....................... 4,365 131,696 Chugai Pharmaceutical Co., Ltd. ....................... 3,180 60,443 Chuo Mitsui Trust Holdings, Inc. ....................... 14,550 69,018 Cosmo Oil Co., Ltd. .......... 15,513 46,890 Credit Saison Co., Ltd. (a)... 2,910 39,068 CSK Holdings Corp. ........... 1,700 9,077 Daiichi Sankyo Co., Ltd. ..... 4,365 101,120 Daikin Industries, Ltd. (a)... 2,910 74,315 Daito Trust Construction Co., Ltd. ....................... 1,455 75,117 Daiwa Securities Group, Inc. (a)......................... 14,550 84,427 Denso Corp. .................. 2,910 47,189 Dentsu, Inc. (a).............. 17 33,194 East Japan Railway Co. ....... 16 121,611 Eisai Co., Ltd. (a)........... 1,551 63,306 Fanuc, Ltd. (a)............... 1,455 100,959 FUJIFILM Holdings Corp. ...... 2,910 62,598 Fujitsu, Ltd. (a)............. 15,513 73,415 Fukuoka Financial Group, Inc. (a)......................... 14,550 61,795 Hankyu Hanshin Holdings, Inc. (a)......................... 15,513 88,475 Hitachi, Ltd. ................ 16,475 62,701 Honda Motor Co., Ltd. (a)..... 7,175 150,861 Hoya Corp. (a)................ 3,006 51,100 Ibiden Co., Ltd. (a).......... 1,500 30,083 IHI Corp. .................... 18,000 22,438 Isetan Mitsukoshi Holdings, Ltd. (a)(c)................. 4,654 39,378 Isuzu Motors, Ltd. ........... 15,000 18,698 Itochu Corp. ................. 14,550 71,105 Japan Digital Laboratory Co., Ltd. ....................... 5,820 61,506 Japan Tobacco, Inc. .......... 26 84,611 JFE Holdings, Inc. (a)........ 2,910 74,957 JSR Corp. (a)................. 3,000 32,929 Kajima Corp. (a).............. 16,475 56,340 Kawasaki Heavy Industries, Ltd. (a).................... 16,000 31,594 KDDI Corp. ................... 15 105,074 Kintetsu Corp. (a)............ 29,101 132,905 Kiyo Holdings, Inc. (a)....... 43,651 65,970 Kobe Steel, Ltd. ............. 15,000 26,806 Komatsu, Ltd. (a)............. 5,820 71,779 Konica Minolta Holdings, Inc. ....................... 7,275 54,733 Kubota Corp. (a).............. 14,550 101,762 Kurita Water Industries, Ltd. (a)......................... 2,910 76,402 Kyocera Corp. (a)............. 1,455 102,404 Leopalace21 Corp. ............ 1,700 16,859 Marubeni Corp. ............... 14,550 53,931
SPDR S&P WORLD EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- Matsushita Electric Industrial Co., Ltd. (a)............... 14,550 $ 178,645 Mediceo Paltac Holdings Co., Ltd. (a).................... 3,199 37,830 MISUMI Group, Inc. (a)........ 4,557 53,337 Mitsubishi Motors Corp. (a)(c)...................... 44,613 60,042 Mitsubishi Chemical Holdings Corp. (a)................... 7,500 32,515 Mitsubishi Corp. ............. 8,438 115,237 Mitsubishi Electric Corp. .... 14,550 88,600 Mitsubishi Estate Co., Ltd. .. 1,925 30,728 Mitsubishi Heavy Industries, Ltd. (a).................... 29,101 126,805 Mitsubishi Materials Corp. (a)......................... 14,550 35,793 Mitsubishi UFJ Financial Group, Inc. ................ 56,924 344,747 Mitsui & Co., Ltd. ........... 12,626 125,494 Mitsui Chemicals, Inc. (a).... 14,550 52,646 Mitsui OSK Lines, Ltd. (a).... 14,550 86,995 Mitsui Sumitomo Insurance Group Holdings, Inc. ....... 3,199 98,281 Mizuho Financial Group, Inc. (a)......................... 58 164,883 Murata Manufacturing Co., Ltd. (a)......................... 1,500 57,750 NEC Corp. .................... 15,513 50,826 Nidec Corp. (a)............... 1,500 56,922 Nintendo Co., Ltd. ........... 300 111,693 Nippon Mining Holdings, Inc. ....................... 8,238 34,352 Nippon Oil Corp. ............. 14,550 71,747 Nippon Steel Corp. (a)........ 29,101 93,098 Nippon Telegraph & Telephone Corp. ...................... 25 129,068 Nippon Yusen KK(a)............ 14,550 87,477 Nissan Motor Co., Ltd. (a).... 11,541 40,740 Nitto Denko Corp. ............ 1,500 28,229 Nomura Holdings, Inc. (a)..... 10,085 81,103 NTT Data Corp. (a)............ 16 63,188 NTT DoCoMo, Inc. ............. 99 192,649 Obayashi Corp. (a)............ 14,550 85,069 ORIX Corp. (a)................ 581 31,982 Pioneer Corp. (a)............. 6,000 10,789 Resona Holdings, Inc. (a)..... 44 65,090 Rohm Co., Ltd. (a)............ 1,500 74,462 Rohto Pharmaceutical Co., Ltd. ....................... 10,701 146,733 Secom Co., Ltd. (a)........... 1,648 83,627 Seven & I Holdings Co., Ltd. (a)......................... 5,628 189,359 Shimizu Corp. (a)............. 15,513 88,988 Shin-Etsu Chemical Co., Ltd. ....................... 2,717 121,988 Softbank Corp. (a)............ 5,436 96,127 Sompo Japan Insurance, Inc. (a)......................... 12,626 89,838 Sony Corp. (a)................ 5,820 123,398 Stanley Electric Co., Ltd. ... 4,173 42,950 Sumitomo Chemical Co., Ltd. (a)......................... 14,550 48,473 Sumitomo Corp. (a)............ 7,175 61,737 Sumitomo Electric Industries, Ltd. ....................... 5,820 43,786 Sumitomo Metal Industries, Ltd. ....................... 29,101 69,663 Sumitomo Mitsui Financial Group, Inc. (a)............. 44 182,504 T&D Holdings, Inc. ........... 1,455 59,388 Taisei Corp. (a).............. 17,438 46,937 Takeda Pharmaceutical Co., Ltd. ....................... 4,365 223,426 TDK Corp. (a)................. 1,455 52,165 Teijin, Ltd. (a).............. 14,550 40,287 Terumo Corp. ................. 1,648 75,810 The Akita Bank, Ltd. ......... 14,550 61,795 The Aomori Bank, Ltd. ........ 29,101 129,052 The Awa Bank, Ltd. ........... 14,550 101,120 The Bank of Iwate, Ltd. ...... 1,455 89,563 The Bank of Okinawa, Ltd. .... 1,455 58,585 The Bank of Yokohama, Ltd. (a)......................... 14,550 83,624 The Chiba Bank, Ltd. ......... 14,550 88,279 The Daisan Bank, Ltd. ........ 43,651 151,202 The Daishi Bank, Ltd. ........ 27,176 119,017 The Eighteenth Bank, Ltd. .... 25,251 92,759 The Furukawa Electric Co., Ltd. (a).................... 14,550 68,858 The Higo Bank, Ltd. .......... 14,550 90,205 The Hokkoku Bank, Ltd. (a).... 14,550 50,239 The Hyakugo Bank, Ltd. ....... 14,550 86,835 The Musashino Bank, Ltd. ..... 1,455 56,017 The Nanto Bank, Ltd. (a)...... 14,550 83,143 The Ogaki Kyoritsu Bank, Ltd. ....................... 14,550 67,253 The San-In Godo Bank, Ltd. ... 14,550 116,207 The Shiga Bank, Ltd. ......... 14,550 94,378 The Shikoku Bank, Ltd. ....... 29,101 155,698 The Sumitomo Trust & Banking Co., Ltd. (a)............... 14,550 82,822 The Toho Bank, Ltd. .......... 29,101 126,163 The Tokyo Electric Power Co., Inc. ....................... 7,175 237,452 The Yamagata Bank, Ltd. ...... 27,176 183,772 The Yamanashi Chuo Bank, Ltd. ....................... 14,550 84,266 Tokio Marine Holdings, Inc. .. 4,365 124,233 Tokyo Electron, Ltd. ......... 1,455 49,757 Tokyo Gas Co., Ltd. .......... 16,475 82,693 Tokyu Corp. .................. 14,550 72,068 Toray Industries, Inc. (a).... 14,550 72,549 Toshiba Corp. (a)............. 15,513 62,634 Toyota Motor Corp. ........... 13,188 422,627 USS Co., Ltd. ................ 1,261 65,936 Yamada Denki Co., Ltd. (a).... 1,008 68,720 ----------- TOTAL JAPAN................... 12,208,790 ----------- LUXEMBOURG -- 0.3% ArcelorMittal................. 4,521 106,835 Reinet Investments SCA (c).... 206 2,004 SES........................... 2,234 43,724 ----------- TOTAL LUXEMBOURG.............. 152,563 ----------- NETHERLANDS -- 2.5% Aegon NV...................... 7,733 48,640 Akzo Nobel NV................. 1,855 75,912 ASML Holding NV (a)........... 3,278 58,096 European Aeronautic Defence and Space Co. NV (a)........ 3,007 50,284 Fortis........................ 8,057 10,404 Fortis VVPR Strip (c)......... 592 1 Fugro NV...................... 1,211 34,483 Heineken NV................... 1,855 56,470 ING Groep NV.................. 11,745 119,671 Koninklijke (Royal) Philips Electronics NV (a).......... 6,401 123,055 Koninklijke Ahold NV.......... 8,366 102,220 Koninklijke DSM NV............ 1,857 47,303 Koninklijke Royal KPN NV...... 10,524 151,848 Koninkljike Numico NV (b)(c).. 180 13,736 Randstad Holding NV (a)....... 1,043 21,095 Reed Elsevier NV.............. 6,401 74,919 SBM Offshore NV (a)........... 2,128 27,655 TNT NV........................ 2,916 55,775 Unilever NV................... 8,739 210,643 Wolters Kluwer NV............. 3,007 56,596 ----------- TOTAL NETHERLANDS............. 1,338,806 ----------- NEW ZEALAND -- 0.0% (e) Calan Healthcare Properties Trust....................... 29,881 19,034
SPDR S&P WORLD EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- NORWAY -- 0.6% DnB NOR ASA................... 6,215 $ 23,965 Norsk Hydro ASA............... 5,247 20,832 Norske Skogindustrier ASA (a)(c)...................... 6,809 13,128 Orkla ASA (a)................. 7,946 51,577 Petroleum Geo-Services ASA (a)(c)...................... 1,775 7,009 StatoilHydro ASA.............. 6,216 101,113 Storebrand ASA................ 4,653 11,131 Telenor ASA................... 4,951 32,737 Yara International ASA........ 2,202 46,778 ----------- TOTAL NORWAY.................. 308,270 ----------- PORTUGAL -- 0.4% Banco Comercial Portugues SA (a)(c)...................... 32,119 36,387 Ibersol, SGPS SA.............. 13,194 126,548 Portugal Telecom, SGPS SA (a)......................... 8,784 74,116 Zon Multimedia Servicos de Telecomunicacoes e Multimedia SGPS SA (a)...... 1,435 7,401 ----------- TOTAL PORTUGAL................ 244,452 ----------- SINGAPORE -- 0.9% Ascendas REIT (a)............. 55,000 52,299 CapitaLand, Ltd. ............. 26,000 56,123 City Developments, Ltd. (a)... 15,000 66,320 Cosco Corp. Singapore, Ltd. (a)......................... 31,000 20,441 Flextronics International, Ltd. (a)(c)................. 6,943 17,774 Genting International PLC (a)(c)...................... 118,000 36,856 Keppel Corp., Ltd. ........... 16,978 51,025 SembCorp Industries, Ltd. .... 28,000 45,088 Singapore Exchange, Ltd. (a).. 15,000 52,889 Stamford Land Corp, Ltd. ..... 472,000 85,178 ----------- TOTAL SINGAPORE............... 483,993 ----------- SOUTH KOREA -- 2.9% Hyundai Securities Co., Ltd. ....................... 5,720 44,005 KIWOOM Securities Co., Ltd. .. 2,056 62,845 Korea Electric Power Corp. ADR (a)......................... 10,511 122,033 KT Corp. ADR (a)(c)........... 11,034 161,869 LG Display Co., Ltd. ADR (a)(c)...................... 9,459 78,320 LG Electronics, Inc. (c)...... 695 41,273 POSCO ADR (a)................. 3,345 251,711 Samsung Electronics Co., Ltd. GDR (f)..................... 2,876 503,300 SK Energy Co., Ltd. (c)....... 906 54,164 SK Telecom Co., Ltd. ADR (a).. 12,488 227,032 ----------- TOTAL SOUTH KOREA............. 1,546,552 ----------- SPAIN -- 5.2% Abertis Infraestructuras SA... 4,904 85,892 Acciona SA (a)................ 382 47,259 Acerinox SA (a)............... 2,819 44,554 ACS, Actividades de Construccion y Servicios SA (a)......................... 1,875 85,097 Banco Bilbao Vizcaya Argentaria SA............... 14,898 179,339 Banco de Andalucia SA......... 240 10,966 Banco de Sabadell SA (a)...... 10,517 70,903 Banco de Valencia SA.......... 7,063 73,929 Banco Guipuzcoano SA (a)...... 4,417 34,567 Banco Pastor SA (a)........... 3,946 27,426 Banco Popular Espanol SA (a).. 7,324 61,899 Banco Santander SA............ 29,222 274,185 Cia Espanola de Petroleos SA.. 1,041 97,820 Ebro Puleva SA (a)............ 4,466 60,838 Enagas........................ 4,846 104,815 Faes Farma SA................. 3,936 16,414 Gamesa Corp. Tecnologica SA (a)......................... 2,307 40,855 Gestevision Telecinco SA (a).. 3,616 37,949 Grupo Ferrovial SA (a)........ 867 23,597 Iberdrola SA.................. 21,943 199,482 Iberia Lineas Aereas de Espana...................... 16,539 45,520 Indra Sistemas SA............. 4,018 90,425 Industria de Diseno Textil SA.......................... 1,964 85,533 NH Hoteles SA (a)............. 4,219 21,640 Red Electrica Corporacion SA.. 2,190 109,591 Repsol YPF SA (a)............. 6,191 129,947 Sacyr Vallehermoso SA (a)..... 1,329 11,768 SOS Cuetara SA (a)............ 6,868 108,548 Telefonica SA................. 23,905 526,682 Union Fenosa SA (a)........... 4,992 123,031 ----------- TOTAL SPAIN................... 2,830,471 ----------- SWEDEN -- 1.8% Alfa Laval AB (a)............. 5,163 44,070 Assa Abloy AB (Class B) (a)... 3,599 40,277 Atlas Copco AB (Class B)...... 10,707 80,560 Boliden AB Mines (a).......... 2,760 6,212 Electrolux AB (a)............. 2,877 24,284 Hennes & Mauritz AB (Class B) (a)......................... 2,677 103,418 Investor AB................... 4,803 71,062 Kinnevik Investment AB (Class B) (a)...................... 3,625 28,879 Loomis AB (Class B) (c)....... 918 5,688 Nordea Bank AB................ 11,136 77,029 Sandvik AB (a)................ 6,665 41,298 Scania AB (a)................. 4,134 40,645 Securitas AB (Class B)........ 6,089 49,472 Skanska AB (Class B).......... 5,163 50,599 SKF AB (Class B) (a).......... 375 3,663 Tele2 AB (Class B)............ 4,115 35,905 Telefonaktiebolaget LM Ericsson (Class B) (a)...... 19,207 142,815 TeliaSonera AB................ 11,250 55,340 Volvo AB ADR (Class A) (a).... 8,991 49,685 ----------- TOTAL SWEDEN.................. 950,901 ----------- SWITZERLAND -- 7.1% ABB, Ltd. (c)................. 12,247 179,272 Adecco SA..................... 1,332 44,778 Alcon, Inc. .................. 769 68,587 Bachem Holding AG (Class B)... 1,041 78,734 Cie Financiere Richemont SA (Class A) (c)............... 1,716 32,696 Clariant AG (a)(c)............ 3,339 22,368 Credit Suisse Group AG........ 6,020 161,197 Geberit AG (a)................ 400 42,505 Graubuendner Kantonalbank..... 43 37,774 Holcim, Ltd. (a).............. 1,192 67,532 Julius Baer Holding AG........ 1,328 49,883 Kuehne & Nagel International AG (a)...................... 815 51,725 Lonza Group AG (a)............ 740 67,823 Nestle SA..................... 19,710 770,363 Nobel Biocare Holding AG (a).. 1,623 32,663 Novartis AG................... 13,448 665,861 PSP Swiss Property AG (c)..... 2,249 111,356 Roche Holding AG.............. 3,946 602,457 SGS SA (a).................... 57 58,909 STMicroelectronics NV......... 7,524 47,744 Sulzer AG..................... 420 23,676 Swatch Group AG (a)........... 342 46,849 Swiss Life Holding (c)........ 253 17,210 Swiss Reinsurance............. 1,974 93,289 Syngenta AG................... 700 131,799
SPDR S&P WORLD EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- UBS AG (c).................... 13,981 $ 194,934 Zurich Financial Services AG.. 761 162,303 ----------- TOTAL SWITZERLAND............. 3,864,287 ----------- UNITED KINGDOM -- 16.4% 3i Group PLC.................. 3,192 12,483 Amec PLC...................... 5,494 38,922 Anglo American PLC............ 7,694 171,019 AstraZeneca PLC............... 8,174 329,884 Aviva PLC..................... 13,761 77,161 BAE Systems PLC............... 19,368 104,911 Balfour Beatty PLC............ 8,240 39,007 Barclays PLC.................. 33,734 74,401 Barratt Developments PLC...... 8,436 8,490 BG Group PLC.................. 20,505 282,134 BHP Billiton PLC.............. 12,682 235,942 BP PLC........................ 99,302 750,978 British Airways PLC........... 5,919 15,293 British American Tobacco PLC.. 8,451 218,708 British Energy Group PLC...... 7,372 81,984 British Land Co. PLC.......... 3,710 29,391 British Sky Broadcasting Group PLC......................... 8,915 61,524 BT Group PLC.................. 40,527 78,778 Burberry Group PLC (a)........ 5,816 18,543 Cable & Wireless PLC.......... 18,187 40,922 Cadbury PLC................... 7,721 67,216 Capita Group PLC.............. 8,626 91,527 Carnival PLC.................. 1,705 36,991 Centrica PLC.................. 26,783 102,429 Compass Group PLC............. 15,179 75,073 Diageo PLC.................... 11,944 165,028 Drax Group PLC................ 4,595 37,062 DSG International PLC......... 21,754 5,473 Enterprise Inns PLC........... 6,074 4,847 Experian PLC.................. 9,429 58,564 FirstGroup PLC................ 5,699 35,561 Friends Provident PLC......... 19,645 24,319 G4S PLC....................... 15,864 46,757 GKN PLC....................... 9,213 12,849 GlaxoSmithKline PLC........... 28,844 532,688 Hays PLC...................... 27,000 27,076 HBOS PLC...................... 22,577 22,398 Home Retail Group PLC......... 7,207 21,915 HSBC Holdings PLC............. 54,848 522,038 ICAP PLC (a).................. 7,064 29,199 Imperial Tobacco Group PLC.... 5,740 152,675 Inchcape PLC.................. 6,304 3,331 Informa PLC................... 6,249 22,124 Intercontinental Hotels Group PLC......................... 2,980 24,079 International Power PLC....... 11,509 39,754 Invensys PLC (c).............. 9,249 23,072 Investec PLC.................. 4,951 20,287 ITV PLC....................... 34,752 19,861 J Sainsbury PLC............... 9,544 45,076 Kingfisher PLC................ 18,304 35,527 Land Securities Group PLC (a)......................... 2,666 35,302 Legal & General Group PLC..... 31,832 35,149 Lloyds TSB Group PLC.......... 28,958 52,459 Logica PLC.................... 20,397 20,235 Lonmin PLC.................... 1,285 16,831 Man Group PLC................. 11,021 37,634 Marks & Spencer Group PLC..... 10,733 33,139 Michael Page International PLC......................... 7,796 24,071 Mondi PLC..................... 5,662 16,586 National Express Group PLC.... 2,606 18,537 National Grid PLC............. 13,479 132,555 Next PLC (a).................. 2,043 31,753 Old Mutual PLC................ 36,588 28,932 Pearson PLC................... 6,322 58,263 Persimmon PLC................. 4,087 13,500 Prudential PLC................ 13,597 81,422 Punch Taverns PLC............. 2,877 2,399 Reckitt Benckiser PLC......... 3,608 133,731 Rentokil Initial PLC (a)...... 31,080 19,662 Rio Tinto PLC................. 5,259 112,661 Rolls-Royce Group PLC (c)..... 12,457 60,088 Royal & Sun Alliance Insurance Group PLC................... 23,190 46,045 Royal Bank of Scotland Group PLC......................... 57,441 40,797 Royal Dutch Shell PLC (Class A).......................... 19,077 495,075 Royal Dutch Shell PLC (Class B).......................... 14,181 351,910 SABMiller PLC................. 5,247 87,735 Scottish & Southern Energy PLC......................... 5,025 87,925 Serco Group PLC............... 9,083 58,831 Shire, Ltd. .................. 4,466 64,980 Smith & Nephew PLC............ 9,195 57,970 Smiths Group PLC.............. 3,575 45,489 Standard Chartered PLC........ 7,398 93,069 Standard Life PLC............. 15,004 43,576 Tate & Lyle PLC............... 7,406 42,672 Taylor Wimpey PLC............. 28,853 5,600 Tesco PLC..................... 41,680 215,732 The Sage Group PLC............ 15,823 38,674 Thomson Reuters PLC........... 577 12,527 Tomkins PLC................... 15,546 27,492 Tullow Oil PLC................ 8,513 80,720 Unilever PLC.................. 7,184 163,092 United Business Media PLC..... 4,298 31,423 Virgin Media, Inc. (a)........ 2,504 12,495 Vodafone Group PLC............ 284,241 568,048 William Hill PLC.............. 6,430 19,876 William Morrison Supermarkets PLC......................... 17,708 71,351 Willis Group Holdings, Ltd. (a)......................... 2,103 52,323 Wolseley PLC.................. 4,755 26,252 WPP Group PLC................. 8,484 49,096 Xstrata PLC................... 3,680 33,862 Yell Group PLC (a)............ 8,304 5,074 ----------- TOTAL UNITED KINGDOM.......... 8,869,891 ----------- TOTAL COMMON STOCKS -- (Cost $64,490,448).......... 53,557,046 ----------- PREFERRED STOCKS -- 0.3% GERMANY -- 0.2% Fresenius SE.................. 871 50,354 Henkel AG & Co. KGaA.......... 1,970 61,861 ----------- TOTAL GERMANY................. 112,215 ----------- ITALY -- 0.1% Istituto Finanziario Industriale SpA (c)......... 1,966 13,227 ----------- TOTAL PREFERRED STOCKS -- (Cost $155,149)............. 125,442 ----------- RIGHTS -- 0.0% (e) AUSTRALIA -- 0.0% (e) Envestra, Ltd. (expiring 02/06/09) (c)............... 107,880 4,889 ----------- BELGIUM -- 0.0% (e) Anheuser-Busch InBev NV (expired 12/09/08) (c)...... 2 --
SPDR S&P WORLD EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- Fortis (expiring 07/04/14) (b)(c)...................... 3,335 $ -- ----------- TOTAL BELGIUM................. -- ----------- UNITED KINGDOM -- 0.0% (e) HBOS PLC (expiring 01/09/09) (c)......................... 24,958 -- Lloyds Banking Group PLC (expiring 01/12/09) (c)..... 10,477 -- TOTAL UNITED KINGDOM.......... -- ----------- TOTAL RIGHTS -- (Cost $21).................. 4,889 ----------- SHORT TERM INVESTMENTS -- 9.5% UNITED STATES -- 9.5% MONEY MARKET FUNDS -- 9.5% State Street Navigator Securities Lending Prime Portfolio (g)(h)............ 4,790,639 4,790,639 STIC Prime Portfolio.......... 365,906 365,906 ----------- TOTAL SHORT TERM INVESTMENTS -- (Cost $5,156,545)........... 5,156,545 ----------- TOTAL INVESTMENTS -- 108.7% (Cost $69,802,163).......... 58,843,922 OTHER ASSETS AND LIABILITIES -- (8.7)%....... (4,694,806) ----------- NET ASSETS -- 100.0%.......... $54,149,116 ===========
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (c) Non-income producing security. (d) Reflects separate holdings of the issuer's common stock traded on different securities exchanges. (e) Amount shown represents less than 0.05% of net assets. (f) Security purchased pursuant to Rule 144A of the Securities Act of 1933. This security which represents 0.9% of net assets as of December 31, 2008, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. (g) Affiliated Fund managed by SSgA Funds Management, Inc. (h) Investments of cash collateral for securities loaned. ADR = American Depositary Receipt GDR = Global Depositary Receipt REIT = Real Estate Investment Trust SPDR S&P WORLD EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Commercial Banks...................... 13.4% Oil, Gas & Consumable Fuels........... 8.8 Pharmaceuticals....................... 7.0 Metals & Mining....................... 4.7 Insurance............................. 4.6 Diversified Telecommunication Services............................ 3.9 Electric Utilities.................... 3.7 Food Products......................... 3.0 Chemicals............................. 2.9 Automobiles........................... 2.8 Wireless Telecommunication Services... 2.4 Food & Staples Retailing.............. 2.2 Machinery............................. 2.1 Real Estate Management & Development.. 2.1 Multi-Utilities....................... 1.9 Media................................. 1.8 Capital Markets....................... 1.8 Industrial Conglomerates.............. 1.6 Road & Rail........................... 1.5 Construction & Engineering............ 1.5 Semiconductors & Semiconductor Equipment........................... 1.4 Electrical Equipment.................. 1.4 Diversified Financial Services........ 1.2 Hotels, Restaurants & Leisure......... 1.2 Beverages............................. 1.2 Trading Companies & Distributors...... 1.1 Electronic Equipment, Instruments..... 1.1 Specialty Retail...................... 1.0 Communications Equipment.............. 0.9 Health Care Equipment & Supplies...... 0.9 Tobacco............................... 0.8 Household Durables.................... 0.8 Textiles, Apparel & Luxury Goods...... 0.8 Real Estate Investment Trust.......... 0.7 Building Products..................... 0.7 Commercial Services & Supplies........ 0.7 Software.............................. 0.7 Auto Components....................... 0.6 Gas Utilities......................... 0.6 Marine................................ 0.6 IT Services........................... 0.6 Aerospace & Defense................... 0.6 Professional Services................. 0.6 Computers & Peripherals............... 0.5 Airlines.............................. 0.5 Energy Equipment & Services........... 0.5 Office Electronics.................... 0.4 Health Care Providers & Services...... 0.4 Multiline Retail...................... 0.4 Transportation Infrastructure......... 0.4 Construction Materials................ 0.4 Household Products.................... 0.4 Biotechnology......................... 0.3 Air Freight & Logistics............... 0.3 Paper & Forest Products............... 0.2 Personal Products..................... 0.2 Independent Power Producers & Energy Traders............................. 0.1 Consumer Finance...................... 0.1 Distributors.......................... 0.1 Leisure Equipment & Products.......... 0.1 Life Sciences, Tools & Services....... 0.0** Internet & Catalog Retail............. 0.0** Short Term Investments................ 9.5 Other Assets and Liabilities.......... (8.7) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. ** Amount represents less than 0.05% of net assets. SPDR S&P INTERNATIONAL SMALL CAP ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ COMMON STOCKS -- 98.8% AUSTRALIA -- 6.5% ABB Grain, Ltd. ............ 130,104 $ 692,106 Adelaide Brighton, Ltd. .... 460,258 673,873 Ausenco, Ltd. .............. 96,812 147,819 Austar United Communications, Ltd. (a).. 719,038 370,972 Austereo Group, Ltd. ....... 963,754 839,911 Australian Wealth Management, Ltd. ......... 591,809 453,870 Australian Worldwide Exploration, Ltd. ........ 794,835 1,424,188 Beach Petroleum, Ltd. ...... 1,153,920 772,332 Billabong International, Ltd. ..................... 102,615 561,614 Boom Logistics, Ltd. ....... 425,624 195,852 Buru Energy Ltd (a)......... 262,133 29,241 Campbell Brothers, Ltd. .... 68,635 842,679 Centennial Coal Co., Ltd. (b)....................... 390,303 903,436 David Jones, Ltd. (b)....... 287,728 637,920 FKP Property Group (b)...... 207,079 72,910 Fleetwood Corp., Ltd. ...... 186,862 476,825 Futuris Corp., Ltd. (b)..... 947,693 426,172 Goodman Fielder, Ltd. ...... 764,195 708,620 Healthscope, Ltd. .......... 258,718 797,271 Iluka Resources, Ltd. (a)... 217,609 703,967 ING Real Estate Community Living Group (b).......... 1,825,862 63,650 Invocare, Ltd. ............. 410,686 1,474,601 IOOF Holdings, Ltd. (b)..... 181,478 480,800 JB Hi-Fi, Ltd. (b).......... 132,760 897,834 Kagara Zinc, Ltd. (a)(b).... 208,269 64,616 Linc Energy Ltd (a)(b)...... 107,725 149,836 Monadelphous Group, Ltd. (b)....................... 103,507 486,393 Mount Gibson Iron, Ltd. (a)(b).................... 360,363 111,804 Oakton, Ltd. (b)............ 165,558 146,015 Pacific Brands, Ltd. (b).... 683,331 204,860 Pan Australian Resources, Ltd. (a).................. 1,530,309 90,689 PaperlinX, Ltd. (b)......... 459,172 224,094 Programmed Maintenance Services, Ltd. ........... 223,078 472,811 Record Realty (a)........... 213,188 892 Riversdale Mining, Ltd. (a)....................... 97,225 163,363 Roc Oil Co., Ltd. (a)....... 687,903 239,803 SAI Global, Ltd. (b)........ 590,645 967,724 Sigma Pharmaceuticals, Ltd. ..................... 1,181,029 889,286 Sino Gold Mining, Ltd. (a)(b).................... 328,951 1,146,723 Spark Infrastructure Group.. 950,334 861,345 Spotless Group, Ltd. (b).... 283,395 557,184 STW Communications Group, Ltd. ..................... 574,172 272,213 Transfield Services, Ltd. (b)....................... 142,956 181,397 Transpacific Industries Group, Ltd. (b)........... 108,364 246,297 WHK Group, Ltd. ............ 633,674 393,200 ------------ TOTAL AUSTRALIA............. 22,519,008 ------------ AUSTRIA -- 0.6% Austrian Airlines AG (a)(b).................... 93,009 517,148 BWIN Interactive Entertainment AG (a)(b)... 15,876 293,510 BWT AG...................... 25,510 390,062 Eco Business-Immobilien AG (a)....................... 145,427 276,946 Schoeller-Bleckmann Oilfield Equipment AG.............. 18,933 576,360 ------------ TOTAL AUSTRIA............... 2,054,026 ------------ BELGIUM -- 0.9% AGFA-Gevaert NV (a)......... 90,891 234,998 Barco NV (b)................ 29,583 736,081 EVS Broadcast Equipment SA.. 14,609 517,834 RHJ International (a)....... 134,848 652,310 Tessenderlo Chemie NV....... 27,709 833,120 ------------ TOTAL BELGIUM............... 2,974,343 ------------ CANADA -- 8.2% AltaGas Income Trust........ 76,734 1,069,117 Anvil Mining, Ltd. (a)(b)... 114,831 100,460 Biovail Corp. .............. 60,268 563,380 Canadian Hydro Developers, Inc. (a)(b)............... 338,975 818,263 Canadian Western Bank (b)... 79,147 793,714 CanWest Global Communications Corp. (a)(b).................... 184,942 116,853 Celestica, Inc. (a)......... 171,569 785,229 Compton Petroleum Corp. (a)(b).................... 154,844 116,650 Corus Entertainment, Inc. (Class B)................. 112,779 1,276,243 Denison Mines Corp. (a)(b).. 115,497 136,594 Dundee Corp. (Class A) (a)(b).................... 70,828 347,112 Dundee Real Estate Investment Trust (b)...... 93,481 954,120 DundeeWealth, Inc. (b)...... 69,838 332,643 FirstService Corp. (a)(b)... 50,094 648,848 FNX Mining Co., Inc. (a)(b).................... 86,396 212,753 Freehold Royalty Trust (b).. 64,521 548,259 Gammon Gold, Inc. (a)(b).... 83,034 454,013 GMP Capital Trust........... 75,379 309,576 Golden Star Resources, Ltd. (a)....................... 374,523 376,192 Great Canadian Gaming Corp. (a)(b).................... 93,531 273,509 Guardian Capital Group, Ltd. ..................... 202,291 737,391 Highpine Oil & Gas, Ltd. (a)....................... 115,952 493,113 Home Capital Group, Inc. (b)....................... 41,778 670,072 HudBay Minerals, Inc. (a)(b).................... 82,884 205,448 Iamgold Corp. .............. 225,564 1,388,648 Kinross Gold Corp. ......... 5,463 99,569 Linamar Corp. (b)........... 91,088 273,006 MacDonald Dettwiler & Associates, Ltd. (a)(b)... 43,329 765,146 Major Drilling Group International, Inc. (b)... 25,031 253,453 Martinrea International, Inc. (a)(b)............... 75,691 138,568 New Gold, Inc. (a)(b)....... 218,911 313,870 Novagold Resources, Inc. (a)(b).................... 130,374 186,927 NuVista Energy, Ltd. (a)(b).................... 107,629 752,400 Open Text Corp. (a)(b)...... 33,523 1,004,468 Peyto Energy Trust (b)...... 83,325 668,220 ProEx Energy, Ltd. (a)(b)... 95,885 869,917 Progress Energy Trust....... 126,174 914,749 Quebecor, Inc. (Class B).... 50,002 795,090 Red Back Mining, Inc. (a)(b).................... 140,290 976,177 Russel Metals, Inc. (b)..... 64,033 985,522 Savanna Energy Services Corp. (b)................. 81,605 528,829 Stantec, Inc. (a)(b)........ 54,827 1,339,031 The Forzani Group, Ltd. .... 61,622 358,401 TriStar Oil & Gas, Ltd. (a)(b).................... 80,524 761,211 Uni-Select, Inc. ........... 94,523 1,755,701 Uranium One, Inc. (a)(b).... 219,132 317,737 Westjet Airlines, Ltd. (a)(b).................... 67,045 696,790 ------------ TOTAL CANADA................ 28,482,982 ------------
SPDR S&P INTERNATIONAL SMALL CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ CHINA -- 2.7% Allied Properties HK, Ltd. ..................... 3,048,791 $ 302,904 Cafe de Coral Holdings, Ltd. ..................... 1,245,867 2,523,820 Chow Sang Sang Holding International, Ltd. ...... 764,939 395,784 Far East Consortium International, Ltd. ...... 2,569,422 351,422 First Pacific, Co., Ltd. ... 1,696,000 588,661 Giordano International, Ltd. ..................... 4,044,000 1,017,496 HKR International, Ltd. .... 2,044,779 445,882 Integrated Distribution Services Group, Ltd. ..... 457,205 501,438 K Wah International Holdings, Ltd. ........... 1,904,565 309,637 Midland Holdings, Ltd. ..... 305,790 108,898 Peace Mark Holdings, Ltd. .. 504,228 97,590 Road King Infrastructure, Ltd. ..................... 893,544 333,197 Techtronic Industries Co., Ltd. ..................... 1,151,500 228,808 Texwinca Holdings, Ltd. .... 1,626,050 692,365 VTech Holdings, Ltd. ....... 104,000 440,144 Xinao Gas Holdings, Ltd. ... 740,000 780,083 Xinyi Glass Holdings Co., Ltd. ..................... 1,270,315 340,927 ------------ TOTAL CHINA................. 9,459,056 ------------ DENMARK -- 0.8% Bang & Olufsen A/S (Class B) (b)....................... 19,408 213,846 East Asiatic Co., Ltd. ..... 27,252 903,370 GN Store Nord A/S (a)(b).... 153,252 291,928 IC Companys A/S............. 20,154 158,457 NeuroSearch A/S (a)......... 18,377 466,748 SimCorp A/S................. 6,556 723,595 ------------ TOTAL DENMARK............... 2,757,944 ------------ FINLAND -- 2.2% Amer Sports Oyj (Class A) (b)....................... 79,886 595,204 Atria Group PLC (b)......... 46,298 746,535 Citycon Oyj (b)............. 197,999 462,383 Cramo Oyj (Class B)......... 44,040 281,602 Finnlines Oyj............... 110,557 991,234 HKScan Oyj.................. 71,026 436,385 Lassila & Tikanoja Oyj (b).. 62,370 953,671 Poyry Oyj................... 65,757 714,791 TietoEnator Oyj............. 54,086 584,166 Vacon Oyj................... 32,060 815,539 Vaisala Oyj (Class A)....... 32,607 1,002,143 ------------ TOTAL FINLAND............... 7,583,653 ------------ FRANCE -- 2.8% Canal Plus.................. 29,640 169,748 Carbone Lorraine SA......... 21,086 521,875 Compagnie Generale de Geophysique-Veritas (a)... 31,367 462,184 Club Mediterranee SA (a).... 21,154 352,273 GL Events SA................ 24,638 444,197 Groupe Steria SCA (b)....... 25,389 281,277 IMS International Metal Service................... 31,422 404,023 Ingenico SA (b)............. 36,362 560,544 IPSOS....................... 44,314 1,187,314 Rhodia SA (b)............... 51,193 320,508 Rubis....................... 25,922 1,625,082 Saft Groupe SA.............. 26,183 702,436 Sequana Capital SA (b)...... 62,637 377,007 Societe de la Tour Eiffel... 9,053 422,826 SOITEC (a)(b)............... 75,128 332,092 Sperian Protection.......... 8,534 530,558 STEF-TFE.................... 23,209 1,071,087 ------------ TOTAL FRANCE................ 9,765,031 ------------ GERMANY -- 2.5% Demag Cranes AG............. 23,337 609,864 Deutsche Wohnen AG (a)...... 40,599 535,564 DIC Asset AG (b)............ 28,728 248,385 Gerresheimer AG............. 18,495 501,325 Gildemeister AG............. 48,607 530,394 Indus Holding AG (b)........ 52,569 979,185 Jenoptik AG (a)(b).......... 116,876 812,317 Kontron AG.................. 66,087 667,853 KUKA AG (b)................. 39,618 697,749 Leoni AG.................... 33,525 605,352 MLP AG (b).................. 48,663 662,911 MTU Aero Engines Holding AG........................ 28,540 776,778 Patrizia Immobilien AG (a)(b).................... 103,656 234,862 Pfleiderer AG (b)........... 42,270 387,799 Solar Millennium AG (a)..... 16,781 281,083 ------------ TOTAL GERMANY............... 8,531,421 ------------ GREECE -- 0.7% Ellaktor SA................. 93,578 556,734 Fourlis Holdings SA......... 40,413 280,880 Hellenic Exchanges SA....... 64,736 503,923 Intracom Holdings SA (a).... 337,537 342,511 Michaniki SA................ 154,441 296,259 Minoan Lines Shipping SA.... 12,709 83,384 Thessaloniki Port Authority SA........................ 31,683 435,125 ------------ TOTAL GREECE................ 2,498,816 ------------ IRELAND -- 0.8% C&C Group PLC............... 208,322 419,887 Fyffes PLC.................. 1,212,058 421,205 Kingspan Group PLC (c)...... 67,080 283,463 Kingspan Group PLC (c)...... 26,324 114,166 McInerney Holdings PLC (c).. 454,498 109,929 McInerney Holdings PLC (c).. 46,748 12,098 Paddy Power PLC (c)......... 12,666 236,454 Paddy Power PLC (c)......... 54,810 1,023,213 ------------ TOTAL IRELAND............... 2,620,415 ------------ ITALY -- 2.2% Amplifon SpA................ 220,076 253,299 Astaldi SpA................. 169,703 931,787 Banca Popolare dell'Etruria e del Lazio Scrl.......... 167,002 928,564 Digital Multimedia Technologies SpA (a)...... 22,525 383,558 Esprinet SpA (b)............ 74,285 338,434 IMMSI SpA................... 557,994 539,457 Interpump Group SpA......... 171,779 1,038,699 Permasteelisa SpA........... 81,752 1,107,983 Recordati SpA............... 225,359 1,210,750 Sorin SpA (a)............... 729,500 474,064 Tiscali SpA (a)............. 391,617 380,513 ------------ TOTAL ITALY................. 7,587,108 ------------ JAPAN -- 40.6% Alps Electric Co., Ltd. .... 137,436 659,511 Asahi Pretec Corp. (b)...... 36,043 408,739 Atrium Co., Ltd. ........... 15 49 Bank of the Ryukyus, Ltd. .. 103,900 1,013,211 Best Denki Co., Ltd. (b).... 177,269 563,193 Capcom Co., Ltd. ........... 45 991 Central Glass Co., Ltd. .... 399,145 1,585,132
SPDR S&P INTERNATIONAL SMALL CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ COMSYS Holdings Corp. ...... 165,050 $ 1,509,393 DA Office Investment Corp. .................... 251 532,181 Daifuku Co., Ltd. (b)....... 94,000 536,106 Daihen Corp. (b)............ 188,000 717,573 Daiichi Chuo Kisen Kaisha (b)....................... 98,834 270,390 Daimei Telecom Engineering Corp. (b)................. 100,000 920,022 Dainippon Screen Manufacturing Co., Ltd. (b)....................... 191,000 362,405 DCM Japan Holdings Co., Ltd. (b)....................... 135,033 944,412 Disco Corp. (b)............. 25,700 519,387 Don Quijote Co., Ltd. (b)... 58,200 1,146,665 DOUTOR NICHIRES Holdings Co., Ltd. (b)............. 128,332 2,786,072 DTS Corp. .................. 66,582 616,976 eAccess, Ltd. (b)........... 1,557 958,418 EDION Corp. (b)............. 78,800 382,482 FCC Co., Ltd. (b)........... 77,548 642,455 Fukuoka REIT Corp. ......... 251 999,570 Furukawa Co., Ltd. ......... 551,387 553,516 Glory, Ltd. (b)............. 56,600 1,087,669 H2O Retailing Corp. (b)..... 188,000 1,395,742 Hanwa Co., Ltd. (b)......... 282,000 871,043 Heiwa Real Estate Co., Ltd. (b)....................... 242,000 614,010 Hitachi Kokusai Electric, Inc. (b).................. 108,372 564,276 Hitachi Zosen Corp. (a)(b).. 609,500 544,617 Horiba, Ltd. (b)............ 39,713 541,919 Hosiden Corp. (b)........... 85,400 1,318,919 Iino Kaiun Kaisha, Ltd. (b)....................... 108,100 684,494 IT Holdings Corp. (a)....... 72,608 1,109,345 Izumiya Co., Ltd. .......... 197,000 1,277,838 Japan Airport Terminal Co., Ltd. (b).................. 74,000 977,959 Japan Asia Investment Co., Ltd. (b).................. 174,000 124,766 Japan Aviation Electronics Industry, Ltd. (b)........ 94,000 385,747 Japan Excellent, Inc. ...... 194 823,938 Japan Logistics Fund, Inc. (b)....................... 194 1,157,794 Juki Corp. (b).............. 92,332 94,726 K's Holdings Corp. (b)...... 39,300 653,338 Kanematsu Corp. (a)......... 581,698 564,693 Katakura Industries Co., Ltd. (b).................. 74,974 886,620 Kayaba Industry Co., Ltd. (b)....................... 256,832 487,315 Keisei Electric Railway Co., Ltd. (b).................. 340,230 2,083,041 Kenedix, Inc. (a)(b)........ 305 84,720 Kitz Corp. ................. 99,000 301,423 Kiyo Holdings, Inc. (b)..... 888,000 1,342,041 Komori Corp. ............... 83,136 896,016 Kurabo Industries, Ltd. (b)....................... 545,000 895,808 Kyowa Exeo Corp. ........... 100,000 1,060,121 Makino Milling Machine Co., Ltd. (b).................. 104,000 277,639 Marudai Food Co., Ltd. ..... 436,656 1,218,687 Maruha Nichiro Holdings, Inc. ..................... 611,485 1,018,580 Marusan Securities Co., Ltd. (b)....................... 127,498 631,512 Meiji Dairies Corp. (b)..... 352,451 1,858,484 Miraca Holdings, Inc. ...... 62,900 1,341,265 Mitsubishi Rayon Co., Ltd. (b)....................... 265,000 783,453 Mitsui Mining & Smelting Co., Ltd. (b)............. 489,000 1,008,748 Mitsui-Soko Co., Ltd. (b)... 249,000 1,373,414 Mitsumi Electric Co., Ltd. ..................... 46,800 790,928 Nabtesco Corp. ............. 94,000 616,988 Nakanishi, Inc. ............ 8,983 566,826 Nankai Electric Railway Co., Ltd. (b).................. 607,000 2,906,100 NET One Systems Co., Ltd. (b)....................... 726 1,443,991 Neturen Co., Ltd. (b)....... 165,703 1,129,669 New City Residence Investment Corp. (d)(e)... 4 -- Nihon Dempa Kogyo Co., Ltd. (b)....................... 20,000 230,778 Nihon Kohden Corp. (b)...... 50,700 1,177,314 Nikkiso Co., Ltd. (b)....... 186,000 1,046,442 Nippon Accommodations Fund, Inc. ..................... 198 836,558 Nippon Carbon Co., Ltd. (b)....................... 178,712 522,434 Nippon Konpo Unyu Soko Co., Ltd. ..................... 172,000 1,889,818 Nippon Light Metal Co., Ltd. ..................... 1,125,000 1,116,933 Nippon Seiki Co., Ltd. ..... 88,000 509,653 Nippon Shinyaku Co., Ltd. .. 163,000 1,920,397 Nippon Soda Co., Ltd. ...... 200,000 783,232 Nippon Suisan Kaisha, Ltd. (b)....................... 312,799 793,643 Nippon Thompson Co., Ltd. .. 169,000 697,253 Nishimatsu Construction Co., Ltd. (b).................. 490,000 724,324 Nishimatsuya Chain Co., Ltd. (b)....................... 90,193 816,861 Nitto Boseki Co., Ltd. ..... 424,153 828,186 NOF Corp. .................. 336,000 1,304,710 NSD Co., Ltd. (b)........... 72,108 558,409 Okasan Holdings, Inc. ...... 203,682 871,799 Oki Electric Industry Co., Ltd. (a)(b)............... 1,083,000 680,982 Orix JREIT, Inc. ........... 285 1,326,751 Osaka Securities Exchange Co., Ltd. ................ 243 1,061,533 OSG Corp. (b)............... 115,800 969,578 Park24 Co., Ltd. (b)........ 143,413 1,058,393 Point, Inc. (b)............. 18,930 1,031,596 Premier Investment Co. ..... 363 1,125,640 Rengo Co., Ltd. (b)......... 142,000 1,151,351 Rohto Pharmaceutical Co., Ltd. ..................... 119,000 1,631,738 Ryohin Keikaku Co., Ltd. ... 25,903 1,211,569 Sakai Chemical Industry Co., Ltd. ..................... 273,565 730,311 Sanden Corp. (b)............ 369,000 818,191 Sankyu, Inc. (b)............ 214,000 771,958 Sanyo Shokai, Ltd. (b)...... 125,000 488,141 Sanyo Special Steel Co., Ltd. (b).................. 160,937 461,595 Sato Corp. ................. 92,700 1,034,886 Seiren Co., Ltd. (b)........ 155,100 698,078 Shima Seiki Manufacturing, Ltd. (b).................. 53,425 1,037,854 Shimachu Co., Ltd. ......... 73,200 1,619,040 Shinko Electric Co., Ltd. (b)....................... 345,000 1,156,977 Shochiku Co., Ltd. (b)...... 349,000 2,421,633 Shoei Co., Ltd. ............ 83,400 845,500 SMK Corp. .................. 186,343 542,687 Star Micronics Co., Ltd. (b)....................... 48,400 502,954 Sumitomo Osaka Cement Co., Ltd. (b).................. 719,793 1,802,460 Sysmex Corp. ............... 57 2,044 Tadano, Ltd. (b)............ 98,526 510,835 Takara Holdings, Inc. ...... 250,000 1,456,150 Takasago International Corp. (b)....................... 273,694 1,884,005 Takefuji Corp. (b).......... 53,850 430,087 Takuma Co., Ltd. (b)........ 206,000 352,234 The Bank of Nagoya, Ltd. (b)....................... 190,000 1,033,315 The Bank of Okinawa, Ltd. .. 38,300 1,542,140 The Ehime Bank, Ltd. (b).... 502,000 1,727,788 The Eighteenth Bank, Ltd. (b)....................... 486,730 1,787,988 The Hokuetsu Bank, Ltd. (b)....................... 695,000 1,556,371 The Michinoku Bank, Ltd. ... 566,000 1,329,928 The Minato Bank, Ltd. ...... 582,000 892,421 The Miyazaki Bank, Ltd. (b)....................... 460,000 1,730,392 The Musashino Bank, Ltd. ... 29,600 1,139,592 The Oita Bank, Ltd. ........ 294,000 1,975,135 The Tochigi Bank, Ltd. ..... 198,000 1,196,955 The Tokushima Bank, Ltd. (b)....................... 209,000 1,085,924 The Tokyo Tomin Bank, Ltd. ..................... 32,800 519,228
SPDR S&P INTERNATIONAL SMALL CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ Toagosei Co., Ltd. ......... 451,818 $ 1,335,766 TOC Co., Ltd. (b)........... 151,000 766,244 Toei Co., Ltd. ............. 254,000 1,140,408 Toho Pharmaceutical Co., Ltd. (b).................. 57,719 791,448 Toho Zinc Co., Ltd. (b)..... 180,000 426,917 Tokai Tokyo Securities Co., Ltd. (b).................. 190,000 509,322 Tokuyama Corp. (b).......... 104,000 855,863 Tokyo Dome Corp. ........... 188,000 692,686 Tokyo Tatemono Co., Ltd. (b)....................... 162,000 720,199 Topy Industries, Ltd. ...... 566,381 993,432 Toyo Corp/Chuo-ku (b)....... 130,048 1,718,671 Toyo Tire & Rubber Co., Ltd. ..................... 283,000 505,747 Toyobo Co., Ltd. (b)........ 762,788 1,135,978 Tsumura & Co. (b)........... 58,300 2,141,633 Ulvac, Inc. (b)............. 35,800 535,519 Unitika, Ltd. (b)........... 794,000 578,092 Yodogawa Steel Works, Ltd. ..................... 299,000 1,227,005 Zenrin Co., Ltd. (b)........ 44,477 534,803 ------------ TOTAL JAPAN................. 139,997,476 ------------ NETHERLANDS -- 2.2% Aalberts Industries NV (b).. 65,639 461,682 ASM International NV (a)(b).................... 53,847 461,076 Crucell NV (a).............. 58,112 879,678 Draka Holdings.............. 21,198 192,709 Exact Holdings NV........... 37,297 683,313 Imtech NV................... 41,348 689,709 James Hardie Industries NV.. 313,176 1,019,677 KAS Bank NV................. 72,746 1,001,093 OPG Groep NV................ 117,794 1,521,140 Ordina NV................... 72,842 289,586 Orthofix International N.V. (a)(b).................... 22,444 344,066 ------------ TOTAL NETHERLANDS........... 7,543,729 ------------ NEW ZEALAND -- 0.6% Fisher & Paykel Appliances Holdings, Ltd. (b)........ 761,460 600,747 Fisher & Paykel Healthcare Corp., Ltd. .............. 517,215 952,120 Nuplex Industries, Ltd. .... 335,048 587,406 ------------ TOTAL NEW ZEALAND........... 2,140,273 ------------ NORWAY -- 1.0% DET Norske Oljeselskap ASA (a)(b).................... 808,917 514,086 Ekornes ASA................. 94,539 904,602 Norske Skogindustrier ASA (a)(b).................... 196,796 379,421 Norwegian Property ASA...... 312,959 271,745 Songa Offshore ASA (a)(b)... 97,927 184,607 Tomra Systems ASA (b)....... 147,506 497,157 Veidekke ASA................ 197,056 627,576 ------------ TOTAL NORWAY................ 3,379,194 ------------ PORTUGAL -- 0.4% Altri SGPS SA (b)........... 141,870 413,147 F. Ramada Investimentos SGPS (a)....................... 20,157 17,512 Semapa-Sociedade de Investimento e Gestao, SGPS, SA.................. 109,838 977,306 ------------ TOTAL PORTUGAL.............. 1,407,965 ------------ SINGAPORE -- 2.2% Bukit Sembawang Estates, Ltd. ..................... 206,080 576,438 Haw Par Corp., Ltd. ........ 701,352 1,767,071 Hong Leong Finance, Ltd. ... 1,297,656 1,855,403 Mapletree Logistics Trust (b)....................... 3,019,965 733,637 Parkway Holdings, Ltd. (b).. 904,309 778,305 Suntec REIT (b)............. 1,844,000 908,721 Verigy, Ltd. (a)(b)......... 48,061 462,347 Wing Tai Holdings, Ltd. .... 949,000 546,708 ------------ TOTAL SINGAPORE............. 7,628,630 ------------ SOUTH KOREA -- 5.1% Asiana Airlines (a)......... 159,821 439,030 Cheil Communications, Inc. ..................... 7,170 1,110,039 Daewoo Motor Sales (a)...... 27,690 148,612 Daum Communications Corp. (a)....................... 12,376 312,458 Dong-A Pharmaceutical Co., Ltd. (a).................. 9,101 682,819 Eugene Investment & Securities Co., Ltd. ..... 418,330 330,466 Hana Tour Service, Inc. (b)....................... 17,827 329,776 Hanmi Pharm Co., Ltd. ...... 7,965 686,120 Hansol Paper Co. (a)........ 54,340 444,367 Hanwha Chemical Corp. (a)... 70,970 338,073 Hanwha Securities Co. ...... 66,570 279,588 Hite Brewery Co., Ltd. (a).. 6,338 832,789 Hotel Shilla Co., Ltd. (a).. 50,410 514,286 Humax Co., Ltd. (a)......... 47,162 301,046 Hyundai Department Store Co., Ltd. (a)............. 14,285 719,042 Hyundai Marine & Fire Insurance Co., Ltd. (b)... 60,370 675,810 Jeonbuk Bank (a)(b)......... 163,586 727,309 Korean Reinsurance Co. ..... 84,615 725,531 LG International Corp. (a).. 47,390 549,318 LG Life Sciences, Ltd. (a).. 17,082 539,767 LIG Insurance Co., Ltd. (b)....................... 40,840 382,606 LS Industrial Systems Co., Ltd. (a).................. 15,508 605,767 MegaStudy Co., Ltd. (a)..... 3,929 567,725 Meritz Fire & Marine Insurance Co., Ltd. (b)... 113,560 326,376 Meritz Securities Co., Ltd. ..................... 536,040 378,767 NCSoft Corp. ............... 16,122 673,270 Orion Corp. (a)(b).......... 4,517 654,482 Poongsan Holdings Corp. (a)....................... 8 57 Poongsan Corp. (a).......... 85,451 495,250 Samsung Fine Chemicals Co., Ltd. ..................... 19,964 609,436 SFA Engineering Corp. (a)... 15,266 399,967 SK Chemicals Co., Ltd. ..... 21,452 458,998 Ssangyong Motor Co. (a)..... 216,730 165,187 Yuhan Corp. ................ 6,853 1,196,983 ------------ TOTAL SOUTH KOREA........... 17,601,117 ------------ SPAIN -- 2.1% Amper, SA (b)............... 92,196 570,299 Campofrio Alimentacion SA... 137,613 1,430,841 Construcciones y Auxiliar de Ferrocarriles SA.......... 3,952 1,372,819 Ercros SA (a)(b)............ 1,640,572 364,876 Faes Farma SA (b)........... 120,479 502,415 General de Alquiler de Maquinaria (a)(b)......... 43,463 332,286 Parquesol Inmobiliaria y Proyectos SA.............. 49,210 410,426 Tubacex SA.................. 183,133 598,225 Tubos Reunidos SA (b)....... 218,795 632,603 Vidrala SA.................. 48,645 1,046,741 ------------ TOTAL SPAIN................. 7,261,531 ------------ SWEDEN -- 1.9% Boliden AB Mines (b)........ 190,964 429,841 Castellum AB (b)............ 147,675 1,134,460 D Carnegie & Co. AB (b)(e).. 59,625 -- Elekta AB (Class B) (b)..... 80,643 787,773 Haldex AB................... 101,252 341,862
SPDR S&P INTERNATIONAL SMALL CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ Hemtex AB (b)............... 42,267 $ 77,768 Intrum Justitia AB.......... 80,221 796,331 Kungsleden AB (b)........... 122,786 838,453 New Wave Group AB (Class B) (b)....................... 183,302 144,872 Q-Med AB.................... 110,089 339,680 TradeDoubler AB............. 44,511 208,260 Trelleborg AB (Class B) (b)....................... 77,152 470,252 Wihlborgs Fastigheter AB.... 71,388 902,737 ------------ TOTAL SWEDEN................ 6,472,289 ------------ SWITZERLAND -- 2.1% Basilea Pharmaceutica AG (a)(b).................... 6,902 965,573 Belimo Holding AG (b)....... 1,837 1,294,452 Daetwyler Holding AG (a).... 23,556 950,562 Georg Fischer AG (a)(b)..... 2,304 519,312 Kudelski SA (b)............. 48,416 508,110 Kuoni Reisen Holding (Class B)........................ 3,451 1,167,248 Mobimo Holding AG (a)(b).... 2,338 310,825 Temenos Group AG (a)(b)..... 54,266 713,791 Valora Holding AG........... 6,330 915,883 ------------ TOTAL SWITZERLAND........... 7,345,756 ------------ UNITED KINGDOM -- 9.7% Bellway PLC................. 68,492 590,846 Berkeley Group Holdings PLC (a)(b).................... 50,439 632,000 Bodycote PLC................ 156,125 276,097 Bovis Homes Group PLC....... 133,865 770,339 Britvic PLC (b)............. 169,782 645,045 Chemring Group PLC.......... 31,505 883,278 Chloride Group.............. 369,915 765,857 Connaught PLC (b)........... 247,308 1,237,374 Croda International PLC..... 87,515 653,659 Dairy Crest Group PLC (b)... 128,493 393,498 Dimension Data Holdings PLC (b)....................... 1,069,414 588,113 DS Smith PLC................ 241,896 263,448 DSG International PLC (b)... 1,028,318 258,731 Elementis PLC............... 659,528 353,218 Fenner PLC.................. 261,557 267,938 Galliford Try PLC........... 452,213 206,429 Game Group PLC.............. 302,562 552,461 Helphire PLC (b)............ 219,528 309,314 Henderson Group PLC (a)(b).. 375,464 314,447 Hiscox, Ltd. ............... 220,852 1,079,602 HMV Group PLC (b)........... 579,983 900,581 International Personal Finance (b)............... 212,303 424,282 Interserve PLC.............. 135,681 443,309 ITE Group PLC............... 376,792 329,103 Jardine Lloyd Thompson Group PLC....................... 144,821 911,988 Keller Group PLC............ 72,934 602,950 Kier Group PLC (b).......... 42,976 557,644 Laird Group PLC............. 149,556 298,884 Melrose PLC................. 418,765 522,304 Michael Page International PLC....................... 195,841 604,673 Mitchells & Butlers PLC (b)....................... 166,204 382,336 Mitie Group................. 360,544 1,066,551 Mondi PLC................... 248,363 727,559 Morgan Crucible Co. ........ 217,789 349,136 Morgan Sindall PLC.......... 48,803 380,303 N Brown Group PLC........... 185,472 541,991 Northern Foods PLC.......... 694,337 566,526 PayPoint PLC................ 77,591 557,782 Persimmon PLC (b)........... 154,104 509,041 Premier Farnell PLC......... 340,132 679,745 Premier Foods PLC........... 484,153 212,308 Rank Group PLC (a).......... 605,943 590,234 Raymarine PLC............... 204,839 38,286 Redrow PLC (b).............. 223,188 523,049 Restaurant Group PLC........ 246,991 378,194 RPS Group PLC............... 224,784 452,457 Senior PLC.................. 487,357 273,272 Shaftesbury PLC (b)......... 156,655 814,209 Shanks Group PLC............ 306,436 480,231 SIG PLC (b)................. 96,792 248,406 Spectris PLC................ 82,455 634,241 SSL International PLC....... 147,908 1,052,641 St James's Place PLC........ 137,210 351,147 Taylor Wimpey PLC........... 711,309 138,062 Travis Perkins PLC.......... 68,117 332,980 Tullett Prebon PLC.......... 187,367 367,713 UK Coal PLC (a)............. 122,504 177,451 Ultra Electronics Holdings PLC....................... 37,934 617,934 Unite Group PLC............. 184,070 387,046 UTV Media PLC............... 200,202 316,625 Victrex PLC (b)............. 113,679 785,339 Wetherspoon (J.D.) PLC (b).. 116,936 522,868 WH Smith PLC (b)............ 124,107 639,689 Wincanton PLC............... 173,565 446,682 Yell Group PLC (b).......... 447,800 273,626 ------------ TOTAL UNITED KINGDOM........ 33,453,072 ------------ TOTAL COMMON STOCKS -- (Cost $524,182,648)....... 341,064,835 ------------ PREFERRED STOCK -- 0.1% GERMANY -- 0.1% Draegerwerk AG & Co. KGaA (Cost $738,855)...... 11,728 427,125 ------------ RIGHTS -- 0.0% (f) AUSTRALIA -- 0.0% (f) Mount Gibson Iron, Ltd. (expiring 01/06/09) (a) (Cost $0)................. 68,221 -- ------------ WARRANTS -- 0.0% (f) AUSTRALIA -- 0.0% (f) Beach Petroleum, Ltd. (expiring 6/30/10) (a).... 72,739 2,028 Buru Energy, Ltd. (expiring 10/10/10) (a)... 87,377 975 ------------ TOTAL AUSTRALIA............. 3,003 ------------ CANADA -- 0.0% Kinross Gold Corp. (expiring 9/3/13) (a)..... 2,462 11,946 ------------ TOTAL WARRANTS -- (Cost $5,320)............. 14,949 ------------ SHORT TERM INVESTMENTS -- 17.5% UNITED STATES -- 17.5% MONEY MARKET FUNDS -- 17.5% State Street Navigator Securities Lending Prime Portfolio (g)(h).......... 53,104,871 53,104,871 STIC Prime Portfolio........ 7,156,038 7,156,038 ------------ TOTAL SHORT TERM INVESTMENTS -- (Cost $60,260,909)........ 60,260,909 ------------ TOTAL INVESTMENTS -- 116.4% (Cost $585,187,732)....... 401,767,818 OTHER ASSETS AND LIABILITIES -- (16.4)%.... (56,614,430) ------------ NET ASSETS -- 100.0%........ $345,153,388 ============
SPDR S&P INTERNATIONAL SMALL CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- (a) Non-income producing security. (b) Security, or portion thereof, was on loan at December 31, 2008. (c) Reflects separate holdings of the issuer's common stock traded on different securities exchanges. (d) Company has filed for civil rehabilitation (insolvency). (e) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (f) Amount shown represents less than 0.05% of net assets. (g) Affiliated Fund managed by SSgA Funds Management, Inc. (h) Investments of cash collateral for securities loaned. SPDR S&P INTERNATIONAL SMALL CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Commercial Banks...................... 6.4% Commercial Services & Supplies........ 5.8 Real Estate Management & Development.. 5.6 Machinery............................. 4.7 Metals & Mining....................... 4.4 Electronic Equipment, Instruments & Components.......................... 4.0 Chemicals............................. 3.8 Specialty Retail...................... 3.6 Hotels, Restaurants & Leisure......... 3.5 Food Products......................... 3.3 Pharmaceuticals....................... 3.2 Oil, Gas & Consumable Fuels........... 3.2 Media................................. 3.1 Construction & Engineering............ 3.0 Health Care Equipment & Supplies...... 2.5 Capital Markets....................... 2.4 Road & Rail........................... 2.3 Electrical Equipment.................. 1.7 Household Durables.................... 1.6 Building Products..................... 1.6 Textiles, Apparel & Luxury Goods...... 1.6 Industrial Conglomerates.............. 1.5 Multiline Retail...................... 1.5 Health Care Providers & Services...... 1.5 Trading Companies & Distributors...... 1.4 Software.............................. 1.4 Insurance............................. 1.3 IT Services........................... 1.3 Auto Components....................... 1.3 Transportation Infrastructure......... 1.2 Paper & Forest Products............... 1.0 Construction Materials................ 1.0 Beverages............................. 1.0 Semiconductors & Semiconductor Equipment........................... 0.9 Containers & Packaging................ 0.9 Internet Software & Services.......... 0.8 Communications Equipment.............. 0.8 Consumer Finance...................... 0.8 Biotechnology......................... 0.8 Distributors.......................... 0.7 Gas Utilities......................... 0.7 Food & Staples Retailing.............. 0.7 Aerospace & Defense................... 0.7 Diversified Financial Services........ 0.6 Diversified Consumer Services......... 0.6 Marine................................ 0.6 Energy Equipment & Services........... 0.5 Airlines.............................. 0.5 Automobiles........................... 0.3 Electric Utilities.................... 0.2 Independent Power Producers & Energy Traders............................. 0.2 Computers & Peripherals............... 0.2 Thrifts & Mortgage Finance............ 0.2 Leisure Equipment & Products.......... 0.2 Internet & Catalog Retail............. 0.2 Air Freight & Logistics............... 0.1 Short Term Investments................ 17.5 Other Assets & Liabilities............ (16.4) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR DJ WILSHIRE INTERNATIONAL REAL ESTATE ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ----------- ------------- COMMON STOCKS -- 99.3% AUSTRALIA -- 16.5% Abacus Property Group...... 1,937,242 $ 290,389 Babcock & Brown Japan Property Trust (a)....... 1,591,916 377,360 Bunnings Warehouse Property Trust.................... 741,343 852,826 Centro Retail Group........ 5,172,848 241,636 CFS Retail Property Trust (a)...................... 4,249,005 5,539,698 Commonwealth Property Office Fund.............. 5,053,265 4,157,300 Dexus Property Group (a)... 10,739,727 6,139,943 Goodman Group (a).......... 7,971,104 4,112,515 GPT Group.................. 13,666,794 8,766,208 ING Industrial Fund (a).... 3,549,078 346,418 ING Office Fund (a)........ 5,368,354 3,031,681 ING Real Estate Community Living Group............. 1,205,438 42,022 Macquarie CountryWide Trust (a)...................... 4,337,809 635,107 Macquarie DDR Trust........ 2,651,897 116,481 Macquarie Office Trust (a)...................... 6,350,729 1,062,654 Tishman Speyer Office Fund (a)...................... 999,604 121,962 Valad Property Group (a)... 5,072,469 187,436 Westfield Group (a)........ 5,692,185 51,393,246 ------------- TOTAL AUSTRALIA............ 87,414,882 ------------- AUSTRIA -- 1.0% Atrium European Real Estate, Ltd. (a)(b)...... 678,798 2,434,392 CA Immobilien Anlagen AG (a)(b)................... 245,770 1,434,856 IMMOEAST AG (a)(b)......... 1,183,925 757,028 Immofinanz Immobilien Anlagen AG (a)(b)........ 1,313,505 894,660 ------------- TOTAL AUSTRIA.............. 5,520,936 ------------- BELGIUM -- 1.3% Befimmo S.C.A. ............ 33,188 3,081,681 Cofinimmo REIT (a)......... 30,844 4,052,515 ------------- TOTAL BELGIUM.............. 7,134,196 ------------- CANADA -- 7.4% Artis REIT................. 49,827 297,065 Boardwalk REIT............. 76,236 1,578,446 Brookfield Asset Management, Inc. (Class A) (a)................... 1,623,679 24,397,931 Calloway REIT.............. 119,954 1,102,858 Canadian Apartment Properties REIT (a)...... 101,843 1,298,509 Canadian REIT.............. 92,704 1,694,880 Chartwell Seniors Housing REIT..................... 150,900 660,073 Extendicare REIT (a)....... 100,431 475,918 First Capital Realty, Inc. (a)...................... 104,497 1,605,758 H&R REIT................... 223,335 1,347,789 Primaris Retail REIT....... 94,751 821,252 RioCan REIT................ 335,803 3,715,730 ------------- TOTAL CANADA............... 38,996,209 ------------- CHINA -- 10.8% Champion REIT.............. 5,223,000 1,401,750 GZI REIT................... 2,266,000 523,359 Hang Lung Group, Ltd. ..... 2,622,808 7,935,904 Hang Lung Properties, Ltd. .................... 5,728,755 12,447,709 Hong Kong Land Holdings, Ltd. (a)................. 3,830,000 9,498,400 Hysan Development Co., Ltd. .................... 1,886,185 3,047,023 Kerry Properties, Ltd. .... 1,913,670 5,098,873 Prosperity REIT............ 3,467,000 402,609 The Link REIT.............. 6,688,426 11,046,406 Wheelock & Co., Ltd. ...... 2,589,545 5,680,146 ------------- TOTAL CHINA................ 57,082,179 ------------- FRANCE -- 10.6% Fonciere des Regions (a)... 61,585 4,194,703 Gecina SA.................. 65,054 4,488,859 Klepierre.................. 256,397 6,237,078 Societe Immobiliere de Location pour l'Industrie et le Commerce (a)....... 33,149 3,066,079 Unibail-Rodamco (a)........ 256,037 37,903,779 ------------- TOTAL FRANCE............... 55,890,498 ------------- GERMANY -- 0.4% IVG Immobilien AG (a)...... 250,598 1,992,525 ------------- ITALY -- 0.2% Beni Stabili SpA (a)....... 1,320,179 908,381 ------------- JAPAN -- 26.4% Aeon Mall Co., Ltd. (a).... 249,140 4,702,466 Creed Office Investment Corp. (a)................ 417 427,810 DA Office Investment Corp. ................... 643 1,363,316 Daibiru Corp. (a).......... 179,300 1,879,040 Frontier Real Estate Investment Corp. (a)..... 430 2,348,042 Fukuoka REIT Corp. ........ 262 1,043,376 Global One REIT Co., Ltd. .................... 300 2,472,146 Hankyu REIT, Inc. (a)...... 268 1,238,742 Heiwa Real Estate Co., Ltd. (a)...................... 465,000 1,179,813 Japan Excellent, Inc. ..... 440 1,868,726 Japan Hotel and Resort, Inc. .................... 262 340,759 Japan Prime Realty Investment Corp. ........ 1,833 4,250,376 Japan Real Estate Investment Corp. ........ 1,387 12,179,283 Japan Retail Fund Investment Corp. ........ 1,212 5,147,490 Kenedix Realty Investment Corp. ................... 627 1,713,270 Mitsui Fudosan Co., Ltd. .. 2,750,000 44,321,566 Mori Hills REIT Investment Corp. ................... 342 1,130,694 Mori Trust Sogo REIT, Inc. (a)...................... 349 2,856,680 Nippon Building Fund, Inc. .................... 1,687 18,200,618 Nippon Commercial Investment Corp. (a)..... 805 839,189 Nippon Residential Investment Corp. (a)..... 776 710,513 Nomura Real Estate Office Fund, Inc. .............. 953 6,076,492 NTT Urban Development Corp. (a)...................... 3,400 3,563,155 Orix JREIT, Inc. .......... 782 3,640,419 Premier Investment Co. (a)...................... 411 1,274,485 Shoei Co., Ltd. ........... 114,090 1,156,632 TOC Co., Ltd. (a).......... 323,000 1,639,051 Tokyu Land Corp. (a)....... 1,433,000 5,295,698 Tokyu REIT, Inc. (a)....... 494 3,008,141 Top REIT, Inc. ............ 488 1,738,820 United Urban Investment Corp. ................... 627 2,427,766 ------------- TOTAL JAPAN................ 140,034,574 -------------
SPDR DJ WILSHIRE INTERNATIONAL REAL ESTATE ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ----------- ------------- NETHERLANDS -- 2.9% Corio NV (a)............... 210,471 $ 9,622,464 Eurocommercial Properties NV (a)................... 97,724 3,260,194 VastNed Retail NV.......... 52,901 2,647,260 ------------- TOTAL NETHERLANDS.......... 15,529,918 ------------- NEW ZEALAND -- 0.8% AMP NZ Office Trust (a).... 1,664,349 972,645 Goodman Property Trust (a)...................... 2,098,782 1,165,202 ING Property Trust......... 1,700,157 655,757 Kiwi Income Property Trust (a)...................... 2,359,542 1,392,705 ------------- TOTAL NEW ZEALAND.......... 4,186,309 ------------- SINGAPORE -- 5.1% Allco Commercial REIT...... 1,878,000 306,320 Ascendas REIT (a).......... 3,030,000 2,881,208 Cambridge Industrial Trust.................... 2,186,074 417,262 CapitaCommercial Trust (a)...................... 2,482,000 1,541,829 CapitaLand, Ltd. (a)....... 5,220,000 11,267,881 CapitaMall Trust (a)....... 3,311,000 3,653,993 Guocoland, Ltd. (a)........ 575,000 454,971 Macquarie Prime REIT....... 2,150,000 775,985 Mapletree Logistics Trust.. 4,126,000 1,002,325 Singapore Land, Ltd. (a)... 408,000 996,814 Suntec REIT (a)............ 4,541,000 2,237,800 United Industrial Corp., Ltd. .................... 2,125,000 1,548,672 ------------- TOTAL SINGAPORE............ 27,085,060 ------------- SOUTH AFRICA -- 0.7% Capital Property Fund...... 916,650 589,948 Fountainhead Property Trust.................... 3,117,163 1,925,257 SA Corporate Real Estate Fund..................... 2,529,528 711,387 Sycom Property Fund........ 311,098 634,983 ------------- TOTAL SOUTH AFRICA......... 3,861,575 ------------- SPAIN -- 0.0% (c) Martinsa-Fadesa SA(b) (d)(e)................... 35,998 -- ------------- SWEDEN -- 1.6% Castellum AB (a)........... 502,209 3,858,041 Fabege AB (a).............. 394,248 1,495,639 Kungsleden AB (a).......... 427,187 2,917,077 ------------- TOTAL SWEDEN............... 8,270,757 ------------- SWITZERLAND -- 1.9% PSP Swiss Property AG (a)(b)................... 132,044 6,537,999 Swiss Prime Site AG (a).... 72,326 3,452,023 ------------- TOTAL SWITZERLAND.......... 9,990,022 ------------- UNITED KINGDOM -- 11.7% Big Yellow Group PLC (a)... 265,806 912,413 British Land Co. PLC....... 1,635,120 12,953,429 Brixton PLC................ 765,358 1,452,520 Capital & Regional PLC..... 210,855 142,484 Derwent London PLC (a)..... 295,131 3,076,354 Grainger PLC (a)........... 405,810 789,121 Great Portland Estates PLC (a)...................... 566,522 2,117,745 Hammerson PLC (a).......... 908,765 6,990,188 Land Securities Group PLC (a)...................... 1,474,211 19,521,033 Liberty International PLC (a)...................... 875,325 6,015,625 Minerva PLC (b)............ 505,138 98,045 Quintain Estates & Development PLC (a)...... 406,718 214,899 Segro PLC (a).............. 1,366,668 4,853,371 Shaftesbury PLC (a)........ 423,622 2,201,762 Workspace Group PLC........ 545,577 484,369 ------------- TOTAL UNITED KINGDOM....... 61,823,358 ------------- TOTAL COMMON STOCKS -- (Cost $1,178,714,013).... 525,721,379 ------------- RIGHTS -- 0.0% (c) AUSTRALIA -- 0.0% (c) ING Office Fund (expiring 01/08/09) (b).. 1,413,834 9,858 Macquarie Office Trust (expiring 01/12/09) (b).. 6,661,656 185,780 ------------- TOTAL RIGHTS -- (Cost $0)................ 195,638 ------------- SHORT TERM INVESTMENTS -- 23.9% UNITED STATES -- 23.9% MONEY MARKET FUNDS -- 23.9% State Street Navigator Securities Lending Prime Portfolio (f)(g)......... 122,100,591 122,100,591 STIC Prime Portfolio....... 4,647,693 4,647,693 ------------- TOTAL SHORT TERM INVESTMENTS -- (Cost $126,748,284)...... 126,748,284 ------------- TOTAL INVESTMENTS -- 123.2% (Cost $1,305,462,297).... 652,665,301 OTHER ASSETS AND LIABILITIES -- (23.2)%... (123,047,782) ------------- NET ASSETS -- 100.0%....... $ 529,617,519 =============
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Non-income producing security. (c) Amount represents less than 0.05% of net assets. (d) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (e) Company has filed for civil rehabilitation (insolvency). (f) Affiliated Fund managed by SSgA Funds Management, Inc. (g) Investments of cash collateral for securities loaned. REIT = Real Estate Investment Trust SPDR DJ WILSHIRE INTERNATIONAL REAL ESTATE ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Retail REIT's......................... 34.7% Real Estate Management & Development.. 33.2 Office REIT's......................... 15.1 Diversified REIT's.................... 12.0 Industrial REIT's..................... 3.1 Residential REIT's.................... 0.7 Specialized REIT's.................... 0.5 Short Term Investments................ 23.9 Other Assets & Liabilities............ (23.2) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR FTSE/MACQUARIE GLOBAL INFRASTRUCTURE 100 ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ COMMON STOCKS -- 99.6% AUSTRALIA -- 1.1% AGL Energy, Ltd. ........... 27,025 $ 287,526 Macquarie Infrastructure Group (a)................. 151,887 181,081 Transurban Group (a)........ 76,035 286,263 ------------ TOTAL AUSTRALIA............. 754,870 ------------ BRAZIL -- 0.6% Centrais Eletricas Brasileiras SA ADR........ 17,899 198,717 Companhia Energetica de Minas Gerais ADR (a)...... 17,607 241,920 ------------ TOTAL BRAZIL................ 440,637 ------------ CANADA -- 3.2% Enbridge, Inc. (a).......... 23,183 742,908 Fortis, Inc. ............... 9,781 194,828 TransAlta Corp. ............ 12,400 244,083 TransCanada Corp. .......... 38,193 1,026,214 ------------ TOTAL CANADA................ 2,208,033 ------------ CHINA -- 2.9% China Merchants Holdings International Co., Ltd. .. 78,358 151,454 CLP Holdings, Ltd. ......... 113,500 770,316 Hong Kong & China Gas Co., Ltd. ..................... 312,320 471,490 HongKong Electric Holdings, Ltd. ..................... 100,000 561,276 ------------ TOTAL CHINA................. 1,954,536 ------------ FINLAND -- 0.9% Fortum Oyj.................. 27,843 589,449 ------------ FRANCE -- 10.1% Electricite de France (a)... 16,058 926,338 GDF Suez (a)................ 103,026 5,058,936 Veolia Environnement (a).... 29,254 902,752 ------------ TOTAL FRANCE................ 6,888,026 ------------ GERMANY -- 10.1% E.ON AG..................... 118,770 4,695,334 RWE AG...................... 24,596 2,177,881 ------------ TOTAL GERMANY............... 6,873,215 ------------ ITALY -- 4.6% A2A SpA..................... 97,274 171,859 Atlantia SpA................ 26,796 487,946 Enel SpA.................... 288,902 1,816,182 Snam Rete Gas SpA........... 60,980 335,670 Terna -- Rete Elettrica Nationale SpA............. 93,506 303,498 ------------ TOTAL ITALY................. 3,115,155 ------------ JAPAN -- 12.7% Chubu Electric Power Co., Inc. ..................... 36,700 1,107,275 Electric Power Development Co., Ltd. ................ 10,400 402,692 Hokkaido Electric Power Co., Inc. (a).................. 10,100 253,475 Hokuriku Electric Power Co. ...................... 10,300 289,741 Kyushu Electric Power Co., Inc. (a).................. 22,200 585,306 Osaka Gas Co., Ltd. (a)..... 101,000 461,268 Shikoku Electric Power Co., Inc. (a).................. 11,400 381,048 The Chugoku Electric Power Co., Inc. ................ 17,400 454,914 The Kansai Electric Power Co., Inc. ................ 45,200 1,296,415 The Tokyo Electric Power Co., Inc. ................ 63,600 2,104,799 Tohoku Electric Power Co., Inc. ..................... 23,600 633,933 Tokyo Gas Co., Ltd. ........ 129,000 647,490 ------------ TOTAL JAPAN................. 8,618,356 ------------ PORTUGAL -- 1.3% Brisa-Auto Estradas de Portugal SA (a)........... 28,192 209,697 EDP -- Energias de Portugal SA........................ 171,500 642,470 ------------ TOTAL PORTUGAL.............. 852,167 ------------ SOUTH KOREA -- 0.5% Korea Electric Power Corp. ADR (a)................... 31,481 365,494 ------------ SPAIN -- 6.7% Abertis Infraestructuras SA........................ 20,929 366,563 Enagas...................... 11,148 241,122 Gas Natural SDG SA (a)...... 13,979 374,834 Iberdrola SA................ 312,926 2,844,786 Union Fenosa SA............. 28,590 704,617 ------------ TOTAL SPAIN................. 4,531,922 ------------ UNITED KINGDOM -- 8.4% British Energy Group PLC.... 66,987 744,962 Centrica PLC................ 319,229 1,220,865 Drax Group PLC.............. 21,965 177,165 International Power PLC..... 94,763 327,330 National Grid PLC........... 153,310 1,507,683 Pennon Group PLC (a)........ 22,426 160,490 Scottish & Southern Energy PLC....................... 54,489 953,417 Severn Trent PLC............ 14,672 252,714 United Utilities Group PLC.. 42,141 379,585 ------------ TOTAL UNITED KINGDOM........ 5,724,211 ------------ UNITED STATES -- 36.5% Allegheny Energy, Inc. (a).. 10,443 353,600 Alliant Energy Corp. (a).... 7,095 207,032 Ameren Corp. (a)............ 13,130 436,704 American Electric Power Co., Inc. (a).................. 25,127 836,227 American Tower Corp. (Class A) (a)(b)................. 24,745 725,523 Aqua America, Inc. (a)...... 8,392 172,791 CenterPoint Energy, Inc. (a)....................... 21,289 268,667 Consolidated Edison, Inc. (a)....................... 17,091 665,353 Constellation Energy Group, Inc. (a).................. 11,095 278,374 Crown Castle International Corp. (a)(b).............. 13,690 240,670 Dominion Resources, Inc. (a)....................... 36,364 1,303,286 DTE Energy Co. (a).......... 10,203 363,941 Duke Energy Corp. (a)....... 78,486 1,178,075 Edison International (a).... 20,402 655,312 El Paso Corp. (a)........... 43,609 341,459 Energen Corp. (a)........... 4,595 134,771 Entergy Corp. .............. 11,858 985,756 Equitable Resources, Inc. (a)....................... 8,124 272,560 Exelon Corp. (a)............ 41,351 2,299,529 FirstEnergy Corp. .......... 19,043 925,109 FPL Group, Inc. (a)......... 25,615 1,289,203 Integrys Energy Group, Inc. (a)....................... 4,898 210,516 Kinder Morgan Management, LLC (a)................... 4,746 189,745 Mirant Corp. (a)(b)......... 12,001 226,459 National Fuel Gas Co. (a)... 4,946 154,958 NiSource, Inc. ............. 17,586 192,918 Northeast Utilities (a)..... 9,658 232,372 NRG Energy, Inc. (a)(b)..... 14,556 339,592 NSTAR (a)................... 6,604 240,980
SPDR FTSE/MACQUARIE GLOBAL INFRASTRUCTURE 100 ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ ONEOK, Inc. ................ 6,697 $ 195,017 Pepco Holdings, Inc. (a).... 13,453 238,925 PG&E Corp. (a).............. 22,592 874,536 Pinnacle West Capital Corp. (a)....................... 6,433 206,692 PPL Corp. (a)............... 23,284 714,586 Progress Energy, Inc. (a)... 16,322 650,432 Public Service Enterprise Group, Inc. .............. 31,839 928,744 Puget Energy, Inc. ......... 8,060 219,796 Reliant Energy, Inc. (b).... 22,242 128,559 SCANA Corp. (a)............. 7,318 260,521 Sempra Energy (a)........... 15,265 650,747 Spectra Energy Corp. (a).... 38,419 604,715 The AES Corp. (a)(b)........ 41,256 339,949 The Southern Co. (a)........ 48,018 1,776,666 The Williams Cos., Inc. (a)....................... 36,038 521,830 Wisconsin Energy Corp. (a).. 7,333 307,839 Xcel Energy, Inc. (a)....... 28,075 520,791 ------------ TOTAL UNITED STATES......... 24,861,827 ------------ TOTAL COMMON STOCKS -- (Cost $94,050,166)........ 67,777,898 ------------ SHORT TERM INVESTMENTS -- 24.6% UNITED STATES -- 24.6% MONEY MARKET FUNDS -- 24.6% State Street Navigator Securities Lending Prime Portfolio (c)(d).......... 14,107,258 14,107,258 STIC Prime Portfolio........ 2,613,492 2,613,492 ------------ TOTAL SHORT TERM INVESTMENTS -- (Cost $16,720,750)........ 16,720,750 ------------ TOTAL INVESTMENTS -- 124.2% (Cost $110,770,916)....... 84,498,648 OTHER ASSETS AND LIABILITIES -- (24.2)%.... (16,452,952) ------------ NET ASSETS -- 100.0%........ $ 68,045,696 ============
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Non-income producing security. (c) Affiliated Fund managed by SSgA Funds Management, Inc. (d) Investments of cash collateral for securities loaned. ADR = American Depositary Receipt SPDR FTSE/MACQUARIE GLOBAL INFRASTRUCTURE 100 ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Electric Utilities.................... 52.9% Multi-Utilities....................... 28.5 Oil, Gas & Consumable Fuels........... 5.0 Gas Utilities......................... 4.8 Independent Power Producers & Energy Traders............................. 3.6 Transportation Infrastructure......... 2.5 Wireless Telecommunication Services... 1.4 Water Utilities....................... 0.9 Short Term Investments................ 24.6 Other Assets & Liabilities............ (24.2) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR MSCI ACWI EX-US ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ COMMON STOCKS -- 98.6% ARGENTINA -- 0.1% Tenaris SA ADR (a).......... 9,604 $ 201,492 ------------ AUSTRALIA -- 4.6% Alumina, Ltd. (a)........... 73,796 71,516 Amcor, Ltd. ................ 61,388 248,238 AMP, Ltd. (a)............... 62,400 235,798 Australia & New Zealand Banking Group, Ltd. ...... 43,801 466,927 BHP Billiton, Ltd. (a)...... 96,348 2,044,771 BlueScope Steel, Ltd. ...... 40,004 97,618 Boral, Ltd. (a)............. 50,712 163,347 Brambles, Ltd. ............. 50,945 263,550 CFS Retail Property Trust (a)....................... 305,198 397,906 Coca-Cola Amatil, Ltd. ..... 67,046 429,582 Commonwealth Bank of Australia (a)............. 33,821 681,453 CSL, Ltd. .................. 20,095 472,145 Fortescue Metals Group, Ltd. (a)(b).................... 31,412 42,268 Foster's Group, Ltd. ....... 81,039 310,752 Insurance Australia Group, Ltd. ..................... 75,394 204,477 Lend Lease Corp., Ltd. ..... 24,225 121,607 Macquarie Group, Ltd. ...... 8,690 174,550 Macquarie Infrastructure Group (a)................. 133,249 158,861 National Australia Bank, Ltd. ..................... 42,406 617,032 Newcrest Mining, Ltd. ...... 14,457 341,591 Origin Energy, Ltd. ........ 58,700 659,721 OZ Minerals, Ltd. (a)(c).... 41,017 15,728 Perpetual, Ltd. (a)......... 5,771 149,233 Qantas Airways, Ltd. ....... 68,584 125,758 QBE Insurance Group, Ltd. (a)....................... 23,842 429,034 Rio Tinto, Ltd. (a)......... 9,382 248,563 Santos, Ltd. ............... 44,971 466,230 Sonic Healthcare, Ltd. ..... 25,790 261,800 Suncorp-Metway, Ltd. ....... 28,798 168,655 Toll Holdings, Ltd. ........ 33,327 143,363 Transurban Group (a)........ 56,740 213,619 Wesfarmers, Ltd. (a)........ 20,523 257,561 Wesfarmers, Ltd. PPS........ 2,827 35,478 Westfield Group (a)......... 39,856 359,849 Westpac Banking Corp. (a)... 47,783 565,344 Woodside Petroleum, Ltd. ... 17,965 459,677 Woolworths, Ltd. ........... 35,182 654,185 ------------ TOTAL AUSTRALIA............. 12,757,787 ------------ AUSTRIA -- 0.3% Erste Bank der Oesterreichischen Sparkassen AG (a)......... 6,121 137,837 OMV AG...................... 7,062 183,765 Raiffeisen International Bank-Holding AG (a)....... 4,106 110,156 Telekom Austria AG.......... 14,443 206,788 Wienerberger AG (a)......... 5,549 91,789 ------------ TOTAL AUSTRIA............... 730,335 ------------ BELGIUM -- 0.4% Anheuser-Busch InBev NV (a)....................... 8,696 48 Delhaize Group.............. 3,184 195,626 Dexia SA (a)................ 20,183 89,777 InBev NV.................... 17,459 402,378 KBC Groep NV................ 5,409 161,278 Solvay SA (a)............... 2,821 208,026 UCB SA...................... 4,755 154,006 ------------ TOTAL BELGIUM............... 1,211,139 ------------ BRAZIL -- 2.0% Banco Bradesco Preference Shares SA ADR (a)......... 54,593 538,833 Banco Itau Holding Financeira SA Preference Shares ADR (a)............ 49,686 576,358 Companhia de Bebidas das Americas Preference Shares ADR (a)................... 7,620 337,642 Companhia Energetica de Minas Gerais ADR (a)...... 18,034 247,787 Companhia Siderurgica Nacional SA ADR (a)....... 21,199 271,559 Companhia Vale do Rio Doce Preference Shares ADR (a)....................... 102,114 1,087,514 Gerdau SA ADR (a)........... 47,601 314,167 Petroleo Brasileiro SA ADR Preference Shares (a)..... 77,906 1,590,062 Tele Norte Leste Participacoes SA ADR...... 8,646 120,352 Unibanco -- Uniao de Bancos Brasileiros SA GDR........ 7,205 465,587 ------------ TOTAL BRAZIL................ 5,549,861 ------------ CANADA -- 6.6% Agrium, Inc. ............... 8,488 285,134 Bank of Montreal............ 17,462 442,031 Bank of Nova Scotia......... 26,086 703,868 Barrick Gold Corp. ......... 27,919 1,011,145 Brookfield Asset Management, Inc. (Class A) (a)........ 17,655 265,290 Brookfield Properties Corp. (a)....................... 14,378 108,315 Cameco Corp. ............... 11,813 201,429 Canadian Imperial Bank of Commerce.................. 10,712 443,318 Canadian National Railway Co. (a)................... 16,304 591,408 Canadian Natural Resources, Ltd. (a).................. 16,304 643,840 Canadian Pacific Railway, Ltd. ..................... 7,044 233,830 Canadian Tire Corp., Ltd. (Class A) (a)............. 5,586 183,830 Enbridge, Inc. (a).......... 14,416 461,966 EnCana Corp. ............... 23,716 1,094,259 Enerplus Resources Fund..... 9,271 179,938 Gildan Activewear, Inc. (a)(b).................... 10,210 117,359 Goldcorp, Inc. ............. 22,349 695,000 Husky Energy, Inc. (a)...... 11,941 298,598 IGM Financial, Inc. (a)..... 9,983 286,673 Imperial Oil, Ltd. (a)...... 13,390 444,598 Loblaw Co., Ltd. (a)........ 9,519 269,647 Magna International, Inc. (Class A)................. 5,096 151,704 Manulife Financial Corp. ... 42,066 708,767 MDS, Inc. (b)............... 16,829 102,923 National Bank of Canada..... 9,085 230,345 Nexen, Inc. ................ 11,588 201,347 Onex Corp. ................. 16,056 236,581 Penn West Energy Trust...... 12,695 139,547 Petro-Canada................ 16,495 357,024 Potash Corp. of Saskatchewan, Inc. ....... 10,113 733,510 Research In Motion, Ltd. (b)....................... 14,916 598,090 Rogers Communications, Inc. (Class B)................. 14,230 421,771 Royal Bank of Canada (a).... 34,279 1,002,407 Shaw Communications, Inc. (a)....................... 15,246 266,882 Shoppers Drug Mart Corp. (a)....................... 9,661 376,032 SNC-Lavalin Group, Inc. (a)....................... 13,145 422,620 Sun Life Financial, Inc. ... 16,933 390,097
SPDR MSCI ACWI EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ Suncor Energy, Inc. ........ 27,284 $ 524,242 Talisman Energy, Inc. ...... 37,325 368,261 Teck Cominco, Ltd. (Class B)........................ 14,122 68,865 TELUS Corp. (Non-Voting).... 7,630 215,704 Thomson Reuters Corp. (a)... 11,494 331,459 TMX Group, Inc. (a)......... 7,315 149,263 Toronto-Dominion Bank (a)... 21,329 750,705 TransAlta Corp. ............ 18,226 358,762 TransCanada Corp. .......... 17,310 465,105 ------------ TOTAL CANADA................ 18,533,488 ------------ CHILE -- 0.3% Empresa Nacional de Electricidad SA ADR....... 15,166 507,909 Enersis SA ADR.............. 26,264 334,604 ------------ TOTAL CHILE................. 842,513 ------------ CHINA -- 4.2% Bank of China, Ltd. ........ 938,000 256,582 Bank of Communications Co., Ltd. ..................... 304,000 219,267 Bank of East Asia, Ltd. .... 182,924 382,360 Cheung Kong Holdings, Ltd. ..................... 60,000 567,469 China Construction Bank Corp. .................... 786,000 431,021 China COSCO Holdings Co., Ltd. ..................... 151,000 105,015 China Life Insurance Co., Ltd. ..................... 242,000 735,349 China Merchants Holdings International Co., Ltd. .. 122,745 237,249 China Mobile, Ltd. ......... 125,500 1,259,826 China Petroleum & Chemical Corp. .................... 604,000 365,508 China Resources Enterprise.. 120,000 209,336 China Telecom Corp., Ltd. .. 604,000 225,228 Citic Pacific, Ltd. ........ 124,000 134,077 CNOOC, Ltd. ................ 484,000 452,138 COSCO Pacific, Ltd. ........ 136,000 138,804 Esprit Holdings, Ltd. ...... 39,300 222,610 Guangzhou R&F Properties Co., Ltd. ................ 196,000 216,227 Hang Lung Properties, Ltd. ..................... 121,000 262,914 Henderson Land Development Co., Ltd. ................ 59,000 218,485 Hong Kong & China Gas Co., Ltd. ..................... 294,420 444,468 Hong Kong Exchanges and Clearing, Ltd. ........... 46,000 436,840 Huaneng Power International, Inc. ..................... 364,000 263,013 Hutchison Whampoa, Ltd. .... 60,000 300,766 Industrial & Commercial Bank of China.................. 1,240,000 652,783 Li & Fung, Ltd. ............ 120,000 205,620 Mongolia Energy Co., Ltd. (b)....................... 141,000 43,299 New World Development Co., Ltd. ..................... 367,025 372,225 PCCW, Ltd. ................. 434,000 207,195 PetroChina Co., Ltd. ....... 604,000 529,168 Ping An Insurance Group Co. of China, Ltd. ........... 60,500 292,734 Shangri-La Asia, Ltd. ...... 146,000 167,849 Sun Hung Kai Properties, Ltd. ..................... 60,000 500,116 Swire Pacific, Ltd. ........ 60,500 416,463 The Link REIT............... 154,900 255,828 Zijin Mining Group Co., Ltd. ..................... 240,000 145,545 ------------ TOTAL CHINA................. 11,873,377 ------------ DENMARK -- 0.7% A P Moller -- Maersk A/S.... 60 314,867 Danisco A/S................. 4,496 180,104 Danske Bank A/S............. 11,494 111,620 DSV A/S (a)................. 15,876 167,517 Novo Nordisk A/S (Class B).. 15,871 803,235 Vestas Wind Systems A/S (b)....................... 6,605 374,369 ------------ TOTAL DENMARK............... 1,951,712 ------------ FINLAND -- 1.2% Elisa Oyj................... 10,157 173,660 Fortum Oyj.................. 15,131 320,330 Kesko Oyj (Class B) (a)..... 6,107 151,105 Kone Oyj (Class B).......... 11,188 241,520 Metso Oyj................... 6,681 79,125 Neste Oil Oyj (a)........... 9,710 142,802 Nokia Oyj................... 93,844 1,447,970 Outokumpu Oyj............... 8,494 97,763 Sampo Oyj (Class A)......... 16,163 297,468 Stora Enso Oyj (a).......... 24,234 185,949 UPM-Kymmene Oyj............. 11,813 147,786 Wartsila Oyj (Class B) (a).. 4,596 134,226 YIT Oyj (a)................. 11,465 72,991 ------------ TOTAL FINLAND............... 3,492,695 ------------ FRANCE -- 7.7% Accor SA (a)................ 6,940 338,704 Air France-KLM (a).......... 6,681 85,161 Air Liquide SA (a).......... 7,575 689,164 Alcatel-Lucent (b).......... 66,898 142,556 Alstom SA................... 6,497 379,128 AXA......................... 31,079 684,525 BNP Paribas SA.............. 22,127 930,418 Bouygues SA................. 6,940 291,338 Cap Gemini SA............... 4,784 182,875 Carrefour SA (a)............ 17,204 658,124 Cie de Saint-Gobain (a)..... 9,112 425,519 Cie Generale des Etablissements Michelin (a)....................... 4,907 256,264 Credit Agricole SA.......... 21,138 235,063 Essilor International SA (a)....................... 10,083 470,513 France Telecom SA........... 48,602 1,348,481 GDF Suez (a)................ 27,075 1,329,477 Groupe Danone (a)........... 13,392 803,819 Hermes International (a).... 2,942 408,952 L'Oreal SA (a).............. 8,227 712,459 Lafarge SA (a).............. 4,364 262,969 Lagardere SCA (a)........... 5,531 222,963 LVMH Moet Hennessy Louis Vuitton SA (a)............ 6,694 444,499 Neopost SA (a).............. 2,518 226,914 Pernod -- Ricard SA (a)..... 5,560 409,388 PPR (a)..................... 2,099 135,965 PSA Peugeot Citroen (a)..... 6,121 103,378 Publicis Groupe (a)......... 7,265 185,766 Renault SA (a).............. 5,592 144,192 Sanofi-Aventis.............. 28,020 1,768,293 Schneider Electric SA....... 7,496 552,250 Societe Generale............ 13,840 692,578 Sodexo (a).................. 4,304 236,768 Technip SA.................. 4,480 135,820 Total SA.................... 57,823 3,127,462 Unibail-Rodamco............. 1,974 292,231 Valeo SA (a)................ 6,245 92,147 Vallourec SA (a)............ 1,356 152,677 Veolia Environnement (a).... 8,907 274,862 Vinci SA (a)................ 13,554 565,222 Vivendi..................... 33,165 1,072,539 ------------ TOTAL FRANCE................ 21,471,423 ------------
SPDR MSCI ACWI EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ GERMANY -- 6.4% Adidas AG................... 9,535 $ 359,717 Allianz SE.................. 12,052 1,256,466 BASF SE..................... 26,186 1,009,367 Bayer AG (a)................ 20,808 1,201,798 Commerzbank AG (a).......... 18,922 174,649 Daimler AG.................. 26,112 969,129 Deutsche Bank AG............ 14,504 561,088 Deutsche Boerse AG.......... 7,361 519,793 Deutsche Lufthansa AG....... 11,353 176,592 Deutsche Post AG............ 23,289 385,561 Deutsche Telekom AG......... 81,161 1,212,791 E.ON AG..................... 51,248 2,025,987 Fresenius Medical Care AG & Co. KGaA (a).............. 7,025 325,275 Hypo Real Estate Holding AG (a)....................... 16,912 71,701 Infineon Technologies AG (a)(b).................... 25,966 34,650 Linde AG.................... 4,000 332,778 MAN AG...................... 4,420 237,896 Merck KGaA.................. 2,438 218,621 Metro AG.................... 5,592 222,079 Muenchener Rueckversicherungs- Gesellschaft AG........... 5,967 920,681 Porsche Automobil Holding SE........................ 3,040 231,782 RWE AG...................... 13,390 1,185,633 Salzgitter AG............... 1,851 141,514 SAP AG (a).................. 25,495 894,488 Siemens AG.................. 23,229 1,701,008 ThyssenKrupp AG............. 11,115 292,940 TUI AG...................... 11,437 127,899 Volkswagen AG............... 3,215 1,117,252 ------------ TOTAL GERMANY............... 17,909,135 ------------ GREECE -- 0.3% Hellenic Telecommunications Organization SA ADR (a)... 36,679 304,803 National Bank of Greece SA ADR (a)................... 163,761 623,929 ------------ TOTAL GREECE................ 928,732 ------------ HUNGARY -- 0.3% MOL Hungarian Oil and Gas NyRt (a).................. 3,809 196,553 Richter Gedeon NyRt......... 3,560 528,593 ------------ TOTAL HUNGARY............... 725,146 ------------ INDIA -- 1.2% Dr. Reddy's Laboratories, Ltd. ADR (a).............. 24,093 236,111 HDFC Bank, Ltd. ADR (a)..... 6,326 451,550 ICICI Bank, Ltd. ADR (a).... 28,849 555,343 Infosys Technologies, Ltd. ADR (a)................... 21,522 528,796 Reliance Industries, Ltd. GDR (d)................... 10,959 563,293 Satyam Computer Services, Ltd. ADR (a).............. 56,063 506,809 Tata Motors, Ltd. ADR (a)... 113,208 503,776 ------------ TOTAL INDIA................. 3,345,678 ------------ INDONESIA -- 0.3% PT Astra International Tbk.. 265,500 256,975 PT Bank Rakyat Indonesia.... 848,050 355,947 PT Telekomunikasi Indonesia Tbk....................... 332,500 210,482 ------------ TOTAL INDONESIA............. 823,404 ------------ IRELAND -- 0.3% Allied Irish Banks PLC (b).. 28,001 67,375 Allied Irish Banks PLC (b).. 6,947 16,803 Bank of Ireland............. 62,126 72,023 CRH PLC..................... 16,671 413,647 Elan Corp. PLC (b).......... 8,222 48,116 Elan Corp. PLC (b).......... 6,407 37,094 Irish Life & Permanent PLC (b)....................... 22,713 49,568 Irish Life & Permanent PLC (b)....................... 15,662 34,289 The Governor & Co. of the Bank of Ireland........... 50,713 59,920 ------------ TOTAL IRELAND............... 798,835 ------------ ISRAEL -- 0.5% Bank Hapoalim BM (b)........ 93,918 201,413 Bank Leumi Le-Israel BM..... 109,832 229,725 Teva Pharmaceutical Industries, Ltd. ADR (a).. 24,460 1,041,262 ------------ TOTAL ISRAEL................ 1,472,400 ------------ ITALY -- 2.7% Assicurazioni Generali SpA.. 27,646 748,987 Atlantia SpA................ 17,954 326,936 Banca Monte dei Paschi di Siena SpA (a)............. 90,817 192,642 Banca Popolare di Milano Scarl (a)................. 23,098 134,289 Enel SpA.................... 115,329 725,015 Eni SpA..................... 68,267 1,588,534 Fiat SpA.................... 19,675 125,533 Finmeccanica SpA............ 13,648 206,598 Intesa Sanpaolo SpA......... 226,463 798,792 Lottomatica SpA............. 18,196 445,163 Mediaset SpA................ 34,838 196,249 Mediobanca SpA.............. 18,740 187,947 Pirelli & C. SpA............ 294,016 107,487 Saipem SpA.................. 12,411 203,917 Seat Pagine Gialle SpA (a)(b).................... 2 -- Telecom Italia SpA.......... 405,283 647,868 UniCredit SpA............... 239,134 580,052 Unione di Banche Italiane ScpA...................... 28,964 414,290 ------------ TOTAL ITALY................. 7,630,299 ------------ JAPAN -- 18.9% Aeon Co., Ltd. (a).......... 18,100 178,105 Aisin Seiki Co., Ltd. ...... 6,200 84,468 Asahi Breweries, Ltd. (a)... 18,100 307,291 Asahi Glass Co., Ltd. (a)... 60,000 333,591 Asahi Kasei Corp. (a)....... 60,000 258,136 Astellas Pharma, Inc. ...... 18,100 724,799 Bridgestone Corp. (a)....... 18,100 264,961 Canon, Inc. (a)............. 25,000 763,927 Central Japan Railway Co. .. 60 514,286 Chubu Electric Power Co., Inc. ..................... 24,600 742,206 Credit Saison Co., Ltd. (a)....................... 19,700 264,478 Daiichi Sankyo Co., Ltd. ... 24,200 560,618 Daikin Industries, Ltd. (a)....................... 16,900 431,589 Daiwa Securities Group, Inc. (a)....................... 60,000 348,152 Denso Corp. ................ 12,100 196,216 East Japan Railway Co. ..... 111 843,673 Eisai Co., Ltd. (a)......... 6,000 244,898 Electric Power Development Co., Ltd. ................ 6,000 232,322 Elpida Memory, Inc. (a)(b).. 6,200 36,796 Fanuc, Ltd. (a)............. 6,000 416,327 FUJIFILM Holdings Corp. .... 18,100 389,355 Fujitsu, Ltd. (a)........... 60,000 283,949 Hankyu Hanshin Holdings, Inc. (a).................. 60,000 342,195 Hitachi, Ltd. .............. 121,000 460,507
SPDR MSCI ACWI EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ Hokuhoku Financial Group, Inc. ..................... 120,000 $ 277,992 Honda Motor Co., Ltd. (a)... 42,300 889,397 Hoya Corp. (a).............. 12,100 205,693 Ibiden Co., Ltd. (a)........ 6,000 120,331 Inpex Holdings, Inc. (a).... 60 461,997 Itochu Corp. ............... 60,000 293,216 Japan Real Estate Investment Corp. .................... 65 570,767 Japan Retail Fund Investment Corp. .................... 118 501,158 Japan Tobacco, Inc. ........ 131 426,310 JFE Holdings, Inc. (a)...... 18,100 466,227 JS Group Corp. ............. 12,100 184,203 JSR Corp. (a)............... 12,400 136,106 Kajima Corp. (a)............ 60,000 205,185 Kamigumi Co., Ltd. (a)...... 60,000 528,185 Kawasaki Kisen Kaisha, Ltd. (a)....................... 60,000 272,697 KDDI Corp. ................. 68 476,338 Keihin Electric Express Railway Co., Ltd. (a)..... 101,000 885,769 Kintetsu Corp. (a).......... 134,000 611,980 Kobe Steel, Ltd. ........... 121,000 216,238 Komatsu, Ltd. (a)........... 30,200 372,461 Konica Minolta Holdings, Inc. ..................... 30,000 225,703 Kubota Corp. (a)............ 60,000 419,636 Kyocera Corp. (a)........... 6,000 422,284 Makita Corp. (a)............ 6,000 130,193 Marubeni Corp. ............. 68,000 252,046 Marui Group Co., Ltd. ...... 36,200 205,659 Matsushita Electric Industrial Co., Ltd. ..... 60,000 736,680 Mitsubishi Chemical Holdings Corp. (a)................. 60,500 262,289 Mitsubishi Corp. ........... 41,200 562,665 Mitsubishi Electric Corp. .. 60,000 365,361 Mitsubishi Estate Co., Ltd. ..................... 60,000 957,750 Mitsubishi Heavy Industries, Ltd. (a).................. 121,000 527,248 Mitsubishi Rayon Co., Ltd. (a)....................... 67,000 198,081 Mitsubishi UFJ Financial Group, Inc. .............. 246,800 1,494,685 Mitsui & Co., Ltd. ......... 62,000 616,238 Mitsui Chemicals, Inc. (a).. 60,000 217,099 Mitsui Mining & Smelting Co., Ltd. ................ 60,000 123,773 Mitsui OSK Lines, Ltd. (a).. 60,000 358,742 Mitsui Sumitomo Insurance Group Holdings, Inc. ..... 19,000 583,729 Mizuho Financial Group, Inc. (a)....................... 249 707,858 Murata Manufacturing Co., Ltd. (a).................. 6,000 230,998 NEC Corp. (a)............... 60,000 196,580 Nidec Corp. (a)............. 6,000 227,689 Nintendo Co., Ltd. ......... 2,000 744,622 Nippon Mining Holdings, Inc. (a)....................... 30,000 125,097 Nippon Oil Corp. ........... 60,000 295,863 Nippon Steel Corp. (a)...... 183,000 585,439 Nippon Telegraph & Telephone Corp. .................... 121 624,688 Nippon Yusen KK (a)......... 60,000 360,728 Nissan Motor Co., Ltd. (a).. 60,400 213,216 Nitto Denko Corp. .......... 6,000 112,918 Nomura Holdings, Inc. ...... 48,400 389,229 NTT Data Corp. (a).......... 60 236,955 NTT DoCoMo, Inc. ........... 484 941,838 Obayashi Corp. (a).......... 60,000 350,800 OMRON Corp. (a)............. 12,100 160,043 ORIX Corp. (a).............. 2,420 133,213 Osaka Gas Co., Ltd. (a)..... 121,000 552,609 Resona Holdings, Inc. (a)... 174 257,401 Rohm Co., Ltd. (a).......... 6,000 297,849 Secom Co., Ltd. (a)......... 6,000 304,468 Seven & I Holdings Co., Ltd. (a)....................... 24,200 814,231 Sharp Corp. (a)............. 60,000 420,960 Shin-Etsu Chemical Co., Ltd. ..................... 12,100 543,265 Softbank Corp. (a).......... 25,400 449,158 Sompo Japan Insurance, Inc. (a)....................... 60,000 426,917 Sony Corp. (a).............. 30,200 640,313 Sumitomo Chemical Co., Ltd. (a)....................... 60,000 199,890 Sumitomo Corp. (a).......... 30,200 259,857 Sumitomo Electric Industries, Ltd. ......... 24,200 182,067 Sumitomo Metal Industries, Ltd. ..................... 121,000 289,653 Sumitomo Mitsui Financial Group, Inc. (a)........... 181 750,756 T&D Holdings, Inc. ......... 6,050 246,939 Takeda Pharmaceutical Co., Ltd. ..................... 24,200 1,238,698 TDK Corp. (a)............... 6,000 215,113 Teijin, Ltd. (a)............ 60,000 166,133 Terumo Corp. ............... 10,600 487,612 The 77 Bank, Ltd. .......... 167,000 891,649 The Bank of Yokohama, Ltd. (a)....................... 67,000 385,074 The Chiba Bank, Ltd. ....... 66,000 400,441 The Furukawa Electric Co., Ltd. (a).................. 60,000 283,949 The Joyo Bank, Ltd. (a)..... 70,000 391,506 The Kansai Electric Power Co., Inc. ................ 19,100 547,821 The Shizuoka Bank, Ltd. (a)....................... 69,000 782,482 The Sumitomo Trust & Banking Co., Ltd. ................ 60,000 341,533 The Tokyo Electric Power Co., Inc. ................ 30,200 999,448 Tokio Marine Holdings, Inc. ..................... 18,100 515,146 Tokyo Electron, Ltd. ....... 6,000 205,185 Tokyo Gas Co., Ltd. ........ 103,000 516,988 Tokyu Corp. ................ 60,000 297,187 Toppan Printing Co., Ltd. (a)....................... 60,000 452,730 Toray Industries, Inc. (a).. 60,000 299,173 Toshiba Corp. (a)........... 60,000 242,250 Toyota Motor Corp. ......... 77,100 2,470,772 Toyota Tsusho Corp. ........ 7,200 75,058 West Japan Railway Co. ..... 106 478,257 Yahoo! Japan Corp. (a)...... 785 316,078 Yamada Denki Co., Ltd. ..... 3,630 247,473 Yamaha Corp. (a)............ 12,400 112,304 Yamaha Motor Co., Ltd. (a).. 12,100 124,404 ------------ TOTAL JAPAN................. 52,743,527 ------------ LUXEMBOURG -- 0.2% ArcelorMittal (a)........... 20,163 479,552 Reinet Investments SCA (b).. 1,387 13,496 ------------ TOTAL LUXEMBOURG............ 493,048 ------------ MEXICO -- 1.0% America Movil SAB de CV (a)....................... 556,150 853,391 Cemex SAB de CV............. 255,513 231,370 Fomento Economico Mexicano SAB de CV................. 57,846 172,930 Grupo Financiero Banorte SAB de CV (a)................. 128,940 232,769 Grupo Modelo SAB de CV (a).. 73,553 233,696 Grupo Televisa SA de CV..... 114,007 336,707 Telefonos de Mexico SA de CV (a)....................... 432,533 448,197 Telmex Internacional SAB de CV (a).................... 412,776 232,193 ------------ TOTAL MEXICO................ 2,741,253 ------------
SPDR MSCI ACWI EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ NETHERLANDS -- 2.3% Aegon NV.................... 33,305 $ 209,488 Akzo Nobel NV............... 9,414 385,250 ASML Holding NV (a)......... 14,846 263,118 European Aeronautic Defence and Space Co. NV (a)...... 10,573 176,805 Fortis...................... 44,186 57,060 Fortis VVPR Strip (b)....... 5,332 7 Heineken NV................. 7,863 239,366 ING Groep NV................ 48,156 490,664 James Hardie Industries NV.. 34,335 111,792 Koninklijke (Royal) Philips Electronics NV............ 35,445 681,408 Koninklijke Ahold NV........ 40,313 492,566 Koninklijke DSM NV.......... 7,572 192,879 Koninklijke Royal KPN NV.... 60,275 869,690 Reed Elsevier NV............ 30,019 351,349 SBM Offshore NV (a)......... 11,644 151,320 TNT NV...................... 14,871 284,439 Unilever NV................. 48,905 1,178,779 Wolters Kluwer NV........... 13,076 246,107 ------------ TOTAL NETHERLANDS........... 6,382,087 ------------ NORWAY -- 0.5% DnB NOR ASA................. 27,480 105,963 Norsk Hydro ASA............. 24,512 97,318 Orkla ASA (a)............... 42,701 277,168 StatoilHydro ASA............ 28,873 469,664 Storebrand ASA.............. 27,463 65,695 Telenor ASA................. 23,978 158,550 Yara International ASA...... 12,088 256,793 ------------ TOTAL NORWAY................ 1,431,151 ------------ POLAND -- 0.2% Telekomunikacja Polska SA GDR (a)................... 81,546 517,817 ------------ PORTUGAL -- 0.2% Banco Comercial Portugues SA (a)(b).................... 250,816 284,147 Portugal Telecom, SGPS, SA (a)....................... 46,384 391,369 ------------ TOTAL PORTUGAL.............. 675,516 ------------ RUSSIA -- 0.9% Gazprom OAO ADR............. 69,591 991,672 LUKOIL ADR (a).............. 16,470 527,863 Mechel OAO ADR (a).......... 13,720 54,880 Mobile Telesystems OJSC ADR....................... 11,569 308,661 Tatneft GDR................. 6,885 240,975 Tatneft OAO GDR............. 297 10,395 Unified Energy System ADR (b)(c).................... 600 54,000 Vimpel-Communications ADR (a)....................... 42,082 301,307 ------------ TOTAL RUSSIA................ 2,489,753 ------------ SINGAPORE -- 0.9% CapitaLand, Ltd. ........... 114,000 246,080 DBS Group Holdings, Ltd. (a)....................... 60,000 350,651 Fraser and Neave, Ltd. ..... 121,000 247,753 Singapore Exchange, Ltd. (a)....................... 121,000 426,639 Singapore Press Holdings, Ltd. (a).................. 181,000 390,706 Singapore Telecommunications, Ltd. ..................... 181,000 320,354 United Overseas Bank, Ltd. (a)....................... 63,000 564,956 ------------ TOTAL SINGAPORE............. 2,547,139 ------------ SOUTH AFRICA -- 1.4% Anglo Platinum, Ltd. ....... 2,340 131,010 AngloGold Ashanti, Ltd. .... 7,660 208,796 Barloworld, Ltd. ........... 25,008 113,043 Discovery Holdings, Ltd. ... 1 3 FirstRand, Ltd. ............ 121,027 210,897 Gold Fields, Ltd. .......... 29,301 291,267 Harmony Gold Mining Co., Ltd. (b).................. 52,826 558,259 Impala Platinum Holdings, Ltd. ..................... 18,255 266,568 Kumba Iron Ore, Ltd. ....... 8,782 153,896 MTN Group, Ltd. ............ 43,982 516,176 Naspers, Ltd. .............. 12,728 228,884 Sanlam, Ltd. ............... 119,017 218,852 Sasol, Ltd. ................ 18,922 573,125 Standard Bank Group, Ltd. .. 36,982 332,018 Telkom SA, Ltd. ............ 14,016 173,589 ------------ TOTAL SOUTH AFRICA.......... 3,976,383 ------------ SOUTH KOREA -- 2.3% Hana Financial Group, Inc. ..................... 8,420 130,356 Hyundai Development Co. (b)....................... 3,750 96,612 Hyundai Heavy Industries (b)....................... 1,613 255,483 Hyundai Mobis (b)........... 2,237 112,068 KB Financial Group, Inc. (b)....................... 11,811 316,010 Kia Motors Corp. (b)........ 21,460 111,598 Korea Electric Power Corp. ADR (a)................... 17,457 202,676 KT Corp. ADR (a)(b)......... 12,546 184,050 KT Freetel Co., Ltd. (b).... 6,520 162,541 KT&G Corp. (b).............. 4,409 276,886 LG Electronics, Inc. (b).... 4,409 261,834 NHN Corp. (b)............... 1,544 159,358 POSCO ADR (a)............... 9,233 694,783 Samsung Corp. (b)........... 7,918 249,569 Samsung Electro-Mechanics Co., Ltd. (b)............. 6,290 166,295 Samsung Electronics Co., Ltd. GDR (d).............. 7,769 1,359,575 Samsung Fire & Marine Insurance Co., Ltd. ...... 1,613 241,396 Samsung Heavy Industries Co., Ltd. (b)............. 8,540 153,232 Samsung Securities Co., Ltd. (a)....................... 9,167 451,236 Shinhan Financial Group Co., Ltd. (b).................. 9,904 233,535 Shinsegae Co., Ltd. (b)..... 470 179,858 SK Energy Co., Ltd. (b)..... 1,737 103,843 SK Holdings Co., Ltd. (b)... 1,686 126,495 SK Telecom Co., Ltd. ADR (a)....................... 14,443 262,574 ------------ TOTAL SOUTH KOREA........... 6,491,863 ------------ SPAIN -- 3.9% Abertis Infraestructuras SA........................ 19,488 341,325 Acciona SA (a).............. 2,398 296,667 Acerinox SA (a)............. 21,468 339,299 ACS, Actividades de Construccion y Servicios SA (a).................... 10,512 477,088 Banco Bilbao Vizcaya Argentaria SA (a)......... 92,650 1,115,305 Banco Popular Espanol SA (a)....................... 56,786 479,927 Banco Santander SA.......... 184,958 1,735,430 Gamesa Corp. Tecnologica SA........................ 12,546 222,180 Gas Natural SDG SA (a)...... 9,474 254,036 Grupo Ferrovial SA (a)...... 3,711 101,003 Iberdrola SA................ 97,418 885,619 Indra Sistemas, SA.......... 17,196 386,994 Industria de Diseno Textil SA........................ 8,167 355,675 Mapfre SA (a)............... 62,210 207,540
SPDR MSCI ACWI EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ Repsol YPF SA............... 27,400 $ 575,119 Telefonica SA............... 122,276 2,694,019 Union Fenosa SA............. 17,898 441,106 ------------ TOTAL SPAIN................. 10,908,332 ------------ SWEDEN -- 1.4% Assa Abloy AB (Class B) (a)....................... 16,180 181,075 Atlas Copco AB (Class B).... 37,238 280,182 Hennes & Mauritz AB (Class B) (a).................... 13,386 517,128 Husqvarna AB (Class B) (a).. 20,151 105,241 Loomis AB (Class B) (b)..... 3,079 19,079 Nordea Bank AB.............. 61,532 425,622 Sandvik AB (a).............. 33,349 206,640 Securitas AB (Class B)...... 20,137 163,608 Skandinaviska Enskilda Banken AB (a)............. 15,950 122,530 Skanska AB (Class B)........ 20,055 196,544 SKF AB (Class B) (a)........ 19,497 190,459 Svenska Handelsbanken AB (Class A)................. 17,119 272,763 Tele2 AB (Class B).......... 24,973 217,899 Telefonaktiebolaget LM Ericsson (Class B) (a).... 88,102 655,087 TeliaSonera AB (a).......... 59,198 291,201 Volvo AB ADR (Class A) (a).. 25,298 139,799 ------------ TOTAL SWEDEN................ 3,984,857 ------------ SWITZERLAND -- 6.3% ABB, Ltd. (b)............... 60,839 890,564 Adecco SA................... 4,997 167,983 Cie Financiere Richemont SA (Class A) (b)............. 15,741 299,927 Credit Suisse Group AG...... 30,690 821,783 Geberit AG (a).............. 1,847 196,266 Givaudan SA (a)............. 430 335,524 Holcim, Ltd. (a)............ 6,327 358,452 Kuehne & Nagel International AG (a).................... 6,086 386,254 Logitech International SA (a)(b).................... 8,004 123,104 Nestle SA................... 108,778 4,251,576 Nobel Biocare Holding AG (a)....................... 10,069 202,638 Novartis AG................. 64,528 3,195,026 Roche Holding AG............ 19,554 2,985,414 SGS SA (a).................. 257 265,608 Swatch Group AG (a)......... 1,912 261,915 Syngenta AG................. 3,435 646,755 UBS AG (b).................. 86,446 1,205,298 Xstrata PLC................. 17,759 163,411 Zurich Financial Services AG........................ 4,064 866,752 ------------ TOTAL SWITZERLAND........... 17,624,250 ------------ TAIWAN -- 2.4% AU Optronics Corp. ADR (a).. 113,660 872,909 Hon Hai Precision Industry Co., Ltd. GDR............. 104,094 402,844 Hon Hai Precision Industry Co., Ltd. GDR............. 214,000 828,180 Taiwan Semiconductor Manufacturing Co., Ltd. ADR....................... 381,092 3,010,627 United Microelectronics Corp. ADR (a)............. 749,237 1,468,504 ------------ TOTAL TAIWAN................ 6,583,064 ------------ THAILAND -- 0.4% Bangkok Bank PCL............ 496,000 991,144 PTT PCL..................... 47,577 239,390 ------------ TOTAL THAILAND.............. 1,230,534 ------------ TURKEY -- 0.2% Akbank TAS.................. 50,232 155,561 Turkiye Garanti Bankasi AS (b)....................... 158,163 266,423 Turkiye Is Bankasi.......... 64,267 170,713 ------------ TOTAL TURKEY................ 592,697 ------------ UNITED KINGDOM -- 15.1% 3i Group PLC................ 15,378 60,138 Anglo American PLC.......... 38,603 858,053 AstraZeneca PLC............. 40,265 1,625,001 Aviva PLC................... 40,740 228,438 BAE Systems PLC............. 95,051 514,865 Barclays PLC................ 229,209 505,523 BG Group PLC................ 97,010 1,334,787 BHP Billiton PLC............ 70,410 1,309,942 BP PLC...................... 544,147 4,115,148 British American Tobacco PLC....................... 51,156 1,323,892 British Land Co. PLC........ 15,301 121,215 British Sky Broadcasting Group PLC................. 39,936 275,606 BT Group PLC................ 233,109 453,126 Burberry Group PLC (a)...... 24,138 76,957 Cable & Wireless PLC........ 82,092 184,714 Cadbury PLC................. 42,412 369,221 Capita Group PLC............ 25,978 275,642 Carnival PLC................ 6,875 149,158 Centrica PLC................ 135,750 519,165 Cobham PLC.................. 86,273 254,900 Compass Group PLC........... 74,708 369,495 Diageo PLC.................. 76,147 1,052,107 Enterprise Inns PLC......... 26,848 21,423 Experian PLC................ 33,227 206,376 FirstGroup PLC.............. 24,885 155,278 G4S PLC..................... 64,754 190,855 GKN PLC..................... 44,187 61,624 GlaxoSmithKline PLC......... 160,609 2,966,112 Hammerson PLC (a)........... 12,870 98,996 Hays PLC.................... 83,199 83,435 HBOS PLC.................... 162,626 161,333 HSBC Holdings PLC........... 315,331 3,001,291 ICAP PLC (a)................ 28,422 117,483 IMI PLC..................... 36,017 140,722 Imperial Tobacco Group PLC.. 29,660 788,908 Inchcape PLC................ 27,237 14,391 Intercontinental Hotels Group PLC................. 12,689 102,529 International Power PLC..... 50,702 175,135 ITV PLC..................... 154,930 88,543 J Sainsbury PLC............. 54,120 255,609 Land Securities Group PLC... 14,016 185,595 Lloyds TSB Group PLC........ 156,132 282,843 Man Group PLC............... 50,406 172,120 Marks & Spencer Group PLC... 51,920 160,307 National Grid PLC........... 77,607 763,204 Next PLC (a)................ 10,391 161,498 Old Mutual PLC.............. 159,625 126,226 Pearson PLC................. 27,899 257,117 Prudential PLC.............. 69,015 413,278 Reckitt Benckiser PLC....... 18,637 690,784 Reed Elsevier PLC........... 40,641 295,372 Rentokil Initial PLC........ 110,354 69,811 Rio Tinto PLC............... 29,555 633,141 Rolls-Royce Group PLC (b)... 57,242 276,116 Royal & Sun Alliance Insurance Group PLC....... 100,860 200,261 Royal Bank of Scotland Group PLC....................... 332,624 236,246 Royal Dutch Shell PLC (Class A)........................ 102,918 2,670,866
SPDR MSCI ACWI EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ Royal Dutch Shell PLC (Class B)........................ 75,084 $ 1,863,252 SABMiller PLC............... 26,353 440,650 Scottish & Southern Energy PLC....................... 26,474 463,227 Severn Trent PLC............ 13,151 226,516 Smith & Nephew PLC.......... 38,708 244,036 Smiths Group PLC............ 15,687 199,603 Standard Life PLC........... 73,887 214,587 Tate & Lyle PLC............. 24,973 143,889 Tesco PLC................... 223,946 1,159,122 The Sage Group PLC.......... 59,049 144,326 Thomson Reuters PLC......... 6,115 132,757 Tomkins PLC................. 58,707 103,819 Unilever PLC................ 37,152 843,428 United Utilities Group PLC.. 27,205 245,049 Vodafone Group PLC.......... 1,571,856 3,141,312 Whitbread PLC............... 10,145 133,753 William Hill PLC............ 25,342 78,336 Wolseley PLC (a)............ 20,820 114,946 WPP Group PLC............... 38,951 225,407 ------------ TOTAL UNITED KINGDOM........ 42,319,936 ------------ TOTAL COMMON STOCKS -- (Cost $410,354,988)....... 275,982,658 ------------ RIGHTS -- 0.0% (e) AUSTRALIA -- 0.0% (e) Macquarie Office Trust (expiring 01/12/09) (b)... 605,082 16,875 ------------ BELGIUM -- 0.0% (e) Anheuser-Busch InBev NV (expired 12/09/08) (b).... 2 -- Fortis (expiring 7/4/14) (b)(c).................... 31,375 -- ------------ TOTAL BELGIUM............... -- ------------ SINGAPORE -- 0.0% (e) DBS Group Holdings Ltd (expiring 12/23/09) (b)... 27,500 57,262 ------------ UNITED KINGDOM -- 0.0% (e) HBOS PLC (expiring 1/9/09) (b)..... 201,475 -- Lloyds Tsb Group (expiring 01/12/09) (b)... 60,758 -- ------------ TOTAL UNITED KINGDOM........ -- ------------ TOTAL RIGHTS -- (Cost $122,667)........... 74,137 ------------ SHORT TERM INVESTMENTS -- 12.8% UNITED STATES -- 12.8% MONEY MARKET FUNDS -- 12.8% State Street Navigator Securities Lending Prime Portfolio (f)(g).......... 28,275,950 28,275,950 STIC Prime Portfolio........ 7,418,852 7,418,852 ------------ TOTAL SHORT TERM INVESTMENTS -- (Cost $35,694,802)........ 35,694,802 ------------ TOTAL INVESTMENTS -- 111.4% (Cost $446,172,457)....... 311,751,597 OTHER ASSETS AND LIABILITIES -- (11.4)%.... (31,991,990) ------------ NET ASSETS -- 100.0%........ $279,759,607 ============
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Non-income producing security. (c) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (d) Security purchased pursuant to Rule 144A of the securities Act of 1933. These securities, which represent 0.7% of net assets as of December 31, 2008, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. (e) Amount shown represents less than 0.05% of net assets. (f) Affiliated Fund managed by SSgA Funds Management, Inc. (g) Investments of cash collateral for securities loaned. ADR = American Depositary Receipt GDR = Global Depositary Receipt REIT = Real Estate Investment Trust SPDR MSCI ACWI EX-US ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Commercial Banks...................... 12.9% Oil, Gas & Consumable Fuels........... 10.6 Pharmaceuticals....................... 7.0 Metals & Mining....................... 5.3 Diversified Telecommunication Services............................ 4.6 Insurance............................. 4.3 Wireless Telecommunication Services... 3.1 Electric Utilities.................... 2.9 Food Products......................... 2.8 Chemicals............................. 2.7 Real Estate Management & Development.. 2.5 Automobiles........................... 2.4 Electronic Equipment & Instruments.... 2.2 Food & Staples Retailing.............. 2.1 Semiconductors & Semiconductor Equipment........................... 1.9 Media................................. 1.8 Capital Markets....................... 1.8 Road & Rail........................... 1.6 Machinery............................. 1.6 Beverages............................. 1.6 Multi-Utilities....................... 1.5 Industrial Conglomerates.............. 1.5 Electrical Equipment.................. 1.2 Communications Equipment.............. 1.0 Tobacco............................... 1.0 Construction & Engineering............ 1.0 Diversified Financial Services........ 0.9 Trading Companies & Distributors...... 0.9 Household Durables.................... 0.8 Hotels, Restaurants & Leisure......... 0.8 Textiles, Apparel & Luxury Goods...... 0.7 Transportation Infrastructure......... 0.7 Building Products..................... 0.7 IT Services........................... 0.7 Marine................................ 0.6 Software.............................. 0.6 Gas Utilities......................... 0.6 Energy Equipment & Services........... 0.6 Construction Materials................ 0.6 Independent Power Producers & Energy Traders............................. 0.5 Commercial Services & Supplies........ 0.5 Aerospace & Defense................... 0.5 Health Care Equipment & Supplies...... 0.5 Specialty Retail...................... 0.5 Auto Components....................... 0.5 Office Electronics.................... 0.4 Professional Services................. 0.4 Multiline Retail...................... 0.3 Computers & Peripherals............... 0.3 Air Freight & Logistics............... 0.3 Personal Products..................... 0.3 Household Products.................... 0.2 Health Care Providers & Services...... 0.2 Internet Software & Services.......... 0.2 Biotechnology......................... 0.2 Distributors.......................... 0.2 Consumer Finance...................... 0.1 Airlines.............................. 0.1 Paper & Forest Products............... 0.1 Containers & Packaging................ 0.1 Water Utilities....................... 0.1 Leisure Equipment & Products.......... 0.0** Short Term Investments................ 12.8 Other Asset's & Liabilities........... (11.4) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. ** Amount represents less than 0.05% of net assets. SPDR RUSSELL/NOMURA PRIME JAPAN ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- COMMON STOCKS -- 99.7% JAPAN -- 99.7% AIR FREIGHT & LOGISTICS -- 0.3% Yamato Holdings Co., Ltd. (a)......................... 3,180 $ 40,693 ----------- AIRLINES -- 0.6% All Nippon Airways Co., Ltd. (a)......................... 11,000 42,957 Japan Airlines Corp. (a)(b)... 17,000 39,757 ----------- 82,714 ----------- AUTO COMPONENTS -- 1.5% Aisin Seiki Co., Ltd. ........ 1,168 15,913 Bridgestone Corp. (a)......... 3,903 57,135 Denso Corp. .................. 1,847 29,951 FCC Co., Ltd. (a)............. 884 7,324 Futaba Industrial Co., Ltd. .. 508 1,950 Keihin Corp. (a).............. 556 3,956 NGK Spark Plug Co., Ltd. ..... 1,160 9,175 NHK Spring Co., Ltd. (a)...... 1,340 4,819 Nissin Kogyo Co., Ltd. ....... 616 4,499 NOK Corp. .................... 1,116 7,719 Showa Corp. (a)............... 2,112 7,386 Stanley Electric Co., Ltd. ... 744 7,658 Sumitomo Rubber Industries, Inc. (a).................... 1,908 16,375 Tokai Rika Co., Ltd. ......... 120 1,030 Toyo Tire & Rubber Co., Ltd. ....................... 2,851 5,095 Toyoda Gosei Co., Ltd. ....... 68 780 Toyota Boshoku Corp. ......... 100 796 Toyota Industries Corp. ...... 1,172 24,642 ----------- 206,203 ----------- AUTOMOBILES -- 5.4% Daihatsu Motor Co., Ltd. ..... 2,464 21,283 Fuji Heavy Industries, Ltd. .. 6,347 16,734 Honda Motor Co., Ltd. (a)..... 8,674 182,379 Isuzu Motors, Ltd. ........... 9,651 12,031 Mazda Motor Corp. ............ 6,123 10,064 Mitsubishi Motors Corp. (a)(b)...................... 27,173 36,570 Nissan Motor Co., Ltd. (a).... 11,862 41,874 Suzuki Motor Corp. ........... 2,192 29,694 Toyota Motor Corp. ........... 12,277 393,433 Yamaha Motor Co., Ltd. (a).... 1,316 13,530 ----------- 757,592 ----------- BEVERAGES -- 1.1% Asahi Breweries, Ltd. (a)..... 2,584 43,870 Ito En, Ltd. (a).............. 1,556 22,692 Kirin Holdings Co., Ltd. ..... 5,207 67,550 Takara Holdings, Inc. ........ 2,479 14,439 ----------- 148,551 ----------- BUILDING PRODUCTS -- 0.9% Aica Kogyo Co., Ltd. ......... 2,284 25,120 Asahi Glass Co., Ltd. (a)..... 5,299 29,462 Daikin Industries, Ltd. (a)... 1,532 39,124 Hitachi Construction Machinery Co., Ltd. .................. 100 1,145 JS Group Corp. ............... 1,872 28,498 ----------- 123,349 ----------- CAPITAL MARKETS -- 1.8% Daiwa Securities Group, Inc. (a)......................... 8,482 49,217 JAFCO Co., Ltd. (a)........... 312 7,761 Nomura Holdings, Inc. ........ 16,476 132,499 Okasan Holdings, Inc. ........ 3,107 13,299 SBI Holdings, Inc. (a)........ 160 23,916 Shinko Securities Co., Ltd. .. 5,587 11,833 Tokai Tokyo Securities Co., Ltd. ....................... 3,967 10,634 ----------- 249,159 ----------- CHEMICALS -- 4.0% Asahi Kasei Corp. (a)......... 6,859 29,509 Daicel Chemical Industries, Ltd. (a).................... 2,055 9,589 Dainippon Ink and Chemicals, Inc. ....................... 6,391 13,184 Hitachi Chemical Co., Ltd. ... 976 9,927 JSR Corp. (a)................. 1,360 14,928 Kaneka Corp. (a).............. 3,224 20,272 Kansai Paint Co., Ltd. ....... 3,092 15,520 Kuraray Co., Ltd. ............ 3,471 26,420 Mitsubishi Chemical Holdings Corp. (a)................... 6,623 28,713 Mitsubishi Gas Chemical Co., Inc. ....................... 3,268 13,050 Mitsubishi Rayon Co., Ltd. (a)......................... 5,291 15,642 Mitsui Chemicals, Inc. (a).... 4,843 17,524 Nifco, Inc. .................. 1,028 10,172 Nissan Chemical Industries, Ltd. ....................... 1,416 13,356 Nitto Denko Corp. ............ 784 14,755 Sekisui Chemical Co., Ltd. (a)......................... 3,079 18,885 Shin-Etsu Chemical Co., Ltd. ....................... 2,420 108,653 Showa Denko K.K. ............. 6,723 9,419 Sumitomo Chemical Co., Ltd. .. 8,674 28,897 Taiyo Nippon Sanso Corp. (a).. 3,180 23,995 Teijin, Ltd. (a).............. 7,367 20,398 Tokai Carbon Co., Ltd. (a).... 2,828 11,543 Toray Industries, Inc. (a).... 8,758 43,669 Tosoh Corp. .................. 5,599 13,403 Ube Industries, Ltd. ......... 8,543 23,278 Zeon Corp. (a)................ 3,132 10,469 ----------- 565,170 ----------- COMMERCIAL BANKS -- 10.3% Chuo Mitsui Trust Holdings, Inc. ....................... 5,981 28,371 Fukuoka Financial Group, Inc. (a)......................... 7,000 29,730 Hokuhoku Financial Group, Inc. ....................... 9,658 22,374 Mitsubishi UFJ Financial Group, Inc. ................ 54,200 328,249 Mizuho Financial Group, Inc. (a)......................... 75 213,210 Resona Holdings, Inc. (a)..... 32 47,338 Shinsei Bank, Ltd. ........... 9,726 14,914 Sumitomo Mitsui Financial Group, Inc. ................ 49 203,243 Suruga Bank, Ltd. (a)......... 2,496 24,175 The 77 Bank, Ltd. ............ 4,803 25,644 The Awa Bank, Ltd. ........... 4,731 32,880 The Bank of Kyoto, Ltd. ...... 2,916 32,039 The Bank of Yokohama, Ltd. (a)......................... 7,947 45,674 The Chiba Bank, Ltd. ......... 6,063 36,786 The Chugoku Bank, Ltd. ....... 1,504 22,896 The Hachijuni Bank, Ltd. (a).. 4,719 26,601 The Hiroshima Bank, Ltd. (a).. 5,811 24,872 The Hyakugo Bank, Ltd. ....... 5,147 30,717 The Iyo Bank, Ltd. ........... 3,180 38,869 The Joyo Bank, Ltd. .......... 5,155 28,832 The Juroku Bank, Ltd. ........ 4,883 22,839 The Musashino Bank, Ltd. ..... 520 20,020 The Nanto Bank, Ltd. ......... 3,391 19,377 The Nishi-Nippon City Bank, Ltd. ....................... 7,799 22,111 The Shizuoka Bank, Ltd. ...... 3,363 38,138 The Sumitomo Trust & Banking Co., Ltd. .................. 9,634 54,839 Yamaguchi Financial Group, Inc. ....................... 2,076 22,901 ----------- 1,457,639 -----------
SPDR RUSSELL/NOMURA PRIME JAPAN ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- COMMERCIAL SERVICES & SUPPLIES -- 1.4% Dai Nippon Printing Co., Ltd. ....................... 3,739 $ 40,380 Daiseki Co., Ltd. (a)......... 400 7,449 MEITEC Corp. ................. 912 15,514 Nissha Printing Co., Ltd. .... 236 9,190 Park24 Co., Ltd. (a).......... 1,100 8,118 Secom Co., Ltd. (a)........... 1,368 69,419 TKC Corp. .................... 400 8,238 Toppan Printing Co., Ltd. (a)......................... 4,299 32,438 ----------- 190,746 ----------- COMMUNICATIONS EQUIPMENT -- 0.0% (c) Aiphone Co., Ltd. (a)......... 200 3,706 Epson Toyocom Corp. (a)....... 1,188 2,189 ----------- 5,895 ----------- COMPUTERS & PERIPHERALS -- 1.3% Fujitsu, Ltd. ................ 11,498 54,414 NEC Corp. .................... 12,918 42,324 Seiko Epson Corp. (a)......... 1,276 19,763 Toshiba Corp. (a)............. 17,633 71,193 ----------- 187,694 ----------- CONSTRUCTION & ENGINEERING -- 1.3% Chiyoda Corp. ................ 1,688 9,106 COMSYS Holdings Corp. ........ 2,000 18,290 JGC Corp. .................... 1,460 21,067 Kajima Corp. (a).............. 7,595 25,973 Kyowa Exeo Corp. ............. 548 5,809 Maeda Corp. (a)............... 4,855 19,281 Obayashi Corp. (a)............ 5,679 33,203 Shimizu Corp. (a)............. 4,559 26,152 Taisei Corp. ................. 9,995 26,903 ----------- 185,784 ----------- CONSTRUCTION MATERIALS -- 0.1% Taiheiyo Cement Corp. (a)..... 9,607 18,017 ----------- CONSUMER FINANCE -- 0.7% Acom Co., Ltd. ............... 12 498 Aeon Credit Service Co., Ltd. ....................... 1,040 10,761 Aiful Corp. (a)............... 1,331 3,715 Credit Saison Co., Ltd. (a)... 1,264 16,970 Orient Corp. (b).............. 4,501 4,816 ORIX Corp. ................... 626 34,459 Promise Co., Ltd. (a)......... 764 18,963 Takefuji Corp. (a)............ 1,054 8,418 ----------- 98,600 ----------- CONTAINERS & PACKAGING -- 0.1% Toyo Seikan Kaisha, Ltd. ..... 1,048 17,711 ----------- DISTRIBUTORS -- 0.1% Canon Marketing Japan, Inc. (a)......................... 992 15,747 ----------- DIVERSIFIED CONSUMER SERVICES -- 0.2% Benesse Corp. ................ 628 27,226 ----------- DIVERSIFIED FINANCIAL SERVICES -- 0.1% Mizuho Trust & Banking Co., Ltd. (a).................... 10,370 12,812 ----------- DIVERSIFIED TELECOMMUNICATION SERVICES -- 2.3% Nippon Telegraph & Telephone Corp. ...................... 64 330,414 ----------- ELECTRIC UTILITIES -- 6.2% Chubu Electric Power Co., Inc. ....................... 3,963 119,568 Funai Electric Co., Ltd. ..... 495 10,020 Hokkaido Electric Power Co., Inc. (a).................... 1,328 33,328 Hokuriku Electric Power Co. .. 1,412 39,720 Kyushu Electric Power Co., Inc. (a).................... 2,376 62,644 Sanyo Electric Co., Ltd. (a)(b)...................... 11,422 20,916 Sharp Corp. (a)............... 5,519 38,721 Shikoku Electric Power Co., Inc. (a).................... 1,572 52,544 The Chugoku Electric Power Co., Inc. .................. 1,748 45,701 The Kansai Electric Power Co., Inc. ....................... 4,811 137,988 The Okinawa Electric Power Co., Inc. .................. 136 10,007 The Tokyo Electric Power Co., Inc. ....................... 6,767 223,949 Tohoku Electric Power Co., Inc. ....................... 2,843 76,367 ----------- 871,473 ----------- ELECTRICAL EQUIPMENT -- 1.1% Fuji Electric Holdings Co., Ltd. (a).................... 6,099 8,948 Fujikura, Ltd. ............... 4,107 13,229 Matsushita Electric Works, Ltd. ....................... 3,151 27,391 Mitsubishi Electric Corp. .... 10,974 66,825 Sumitomo Electric Industries, Ltd. ....................... 3,887 29,244 Ushio, Inc. (a)............... 1,136 14,750 ----------- 160,387 ----------- ELECTRONIC EQUIPMENT & INSTRUMENTS-- 4.4% Alps Electric Co., Ltd. ...... 1,868 8,964 Casio Computer Co., Ltd. ..... 2,248 13,862 Dainippon Screen Manufacturing Co., Ltd. (a)............... 4,364 8,280 Hamamatsu Photonics K.K. (a).. 668 12,572 Hirose Electric Co., Ltd. (a)......................... 408 40,597 Hitachi, Ltd. ................ 16,933 64,444 Horiba, Ltd. (a).............. 504 6,878 Hoya Corp. (a)................ 2,732 46,442 Ibiden Co., Ltd. (a).......... 996 19,975 Keyence Corp. (a)............. 340 68,263 Konica Minolta Holdings, Inc. ....................... 4,075 30,658 Kyocera Corp. (a)............. 992 69,818 Murata Manufacturing Co., Ltd. (a)......................... 1,328 51,128 Nidec Corp. (a)............... 964 36,582 Nippon Electric Glass Co., Ltd. ....................... 2,548 13,014 Oki Electric Industry Co., Ltd. (a)(b)................. 12,166 7,650 Olympus Corp. ................ 492 9,504 OMRON Corp. (a)............... 1,480 19,576 Shimadzu Corp. ............... 3,312 20,351 Taiyo Yuden Co., Ltd. ........ 776 4,280 TDK Corp. (a)................. 996 35,709 The Furukawa Electric Co., Ltd. (a).................... 4,899 23,184 Yaskawa Electric Corp. (a).... 1,604 6,299 Yokogawa Electric Corp. ...... 1,864 11,967 ----------- 629,997 ----------- FOOD & STAPLES RETAILING -- 2.2% Aeon Co., Ltd. (a)............ 4,503 44,310 Cawachi, Ltd. ................ 548 12,272 FamilyMart Co., Ltd. ......... 952 41,062 Izumiya Co., Ltd. ............ 2,740 17,773 Lawson, Inc. ................. 400 22,901 Seven & I Holdings Co., Ltd. (a)......................... 4,639 156,083 UNY Co., Ltd. ................ 2,000 21,622 ----------- 316,023 ----------- FOOD PRODUCTS -- 1.1% Ajinomoto Co., Inc. (a)....... 4,003 42,878 Hokuto Corp. ................. 500 14,065 Kikkoman Corp. (a)............ 2,256 26,156 Meiji Dairies Corp. .......... 4,175 22,015 Nissin Food Products Co., Ltd. ....................... 640 22,028
SPDR RUSSELL/NOMURA PRIME JAPAN ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- Sakata Seed Corp. (a)......... 1,584 $ 23,066 Yakult Honsha Co., Ltd. (a)... 464 9,771 ----------- 159,979 ----------- GAS UTILITIES -- 0.7% Saibu Gas Co., Ltd. .......... 10,273 28,558 Tokyo Gas Co., Ltd. .......... 13,873 69,633 ----------- 98,191 ----------- HEALTH CARE EQUIPMENT & SUPPLIES -- 0.3% Miraca Holdings, Inc. ........ 636 13,562 Nakanishi, Inc. .............. 100 6,310 Sysmex Corp. (a).............. 200 7,170 Terumo Corp. ................. 456 20,977 ----------- 48,019 ----------- HEALTH CARE PROVIDERS & SERVICES -- 0.3% Alfresa Holdings Corp. ....... 84 3,966 Mediceo Paltac Holdings Co., Ltd. (a).................... 1,192 14,096 Suzuken Co., Ltd. (a)......... 632 18,615 ----------- 36,677 ----------- HOTELS, RESTAURANTS & LEISURE -- 0.3% Oriental Land Co., Ltd. (a)... 404 32,980 Round One Corp. (a)........... 8 5,930 ----------- 38,910 ----------- HOUSEHOLD DURABLES -- 3.0% Daikyo, Inc. ................. 4,256 3,615 Daiwa House Industry Co., Ltd. ....................... 3,363 32,090 Haseko Corp. ................. 9,139 9,477 Matsushita Electric Industrial Co., Ltd. .................. 11,981 147,103 Pioneer Corp. (a)............. 2,260 4,064 Sangetsu Co., Ltd. ........... 1,576 35,814 Sekisui House, Ltd. .......... 3,679 31,575 Sony Corp. (a)................ 6,411 135,929 TOTO, Ltd. (a)................ 4,444 27,355 ----------- 427,022 ----------- HOUSEHOLD PRODUCTS -- 0.9% Kao Corp. .................... 3,339 99,820 Uni-Charm Corp. .............. 444 33,110 ----------- 132,930 ----------- INDEPENDENT POWER PRODUCERS & ENERGY TRADERS -- 0.2% Electric Power Development Co., Ltd. .................. 840 32,525 ----------- INDUSTRIAL CONGLOMERATES -- 0.5% Hankyu Hanshin Holdings, Inc. (a)......................... 8,486 48,398 Keihan Electric Railway Co., Ltd. ....................... 5,747 26,056 ----------- 74,454 ----------- INSURANCE -- 2.5% Aioi Insurance Co., Ltd. ..... 3,579 18,162 Mitsui Sumitomo Insurance Group Holdings, Inc. ....... 3,136 96,346 Nipponkoa Insurance Co., Ltd. ....................... 4,479 33,846 Sompo Japan Insurance, Inc. (a)......................... 5,111 36,366 T&D Holdings, Inc. ........... 1,310 53,469 Tokio Marine Holdings, Inc. .. 3,947 112,336 ----------- 350,525 ----------- INTERNET & CATALOG RETAIL -- 0.2% Rakuten, Inc. (a)............. 51 32,068 ----------- INTERNET SOFTWARE & SERVICES -- 0.3% DeNA Co., Ltd. ............... 1 3,137 Yahoo! Japan Corp. (a)........ 106 42,681 ----------- 45,818 ----------- IT SERVICES -- 0.7% CSK Holdings Corp. ........... 756 4,036 IT Holdings Corp. (b)......... 832 12,712 Itochu Techno-Solutions Corp. (a)......................... 608 14,554 Net One Systems Co., Ltd. (a)......................... 15 29,835 Nomura Research Institute, Ltd. ....................... 300 5,590 NTT Data Corp. ............... 8 31,594 Otsuka Corp. ................. 112 5,016 ----------- 103,337 ----------- LEISURE EQUIPMENT & PRODUCTS -- 1.5% Canon Electronics, Inc. ...... 100 1,394 FUJIFILM Holdings Corp. ...... 2,927 62,964 Namco Bandai Holdings, Inc. (a)......................... 2,332 25,082 Nikon Corp. (a)............... 2,440 28,478 Roland Corp. ................. 300 3,971 Sankyo Co., Ltd. ............. 640 31,771 Sega Sammy Holdings, Inc. (a)......................... 2,131 24,331 Shimano, Inc. (a)............. 592 22,923 Yamaha Corp. (a).............. 1,292 11,701 ----------- 212,615 ----------- MACHINERY -- 4.1% Amada Co., Ltd. .............. 2,527 11,987 Amano Corp. (a)............... 1,336 10,302 Fanuc, Ltd. .................. 1,180 81,877 Fuji Machine Manufacturing Co., Ltd. .................. 100 849 Glory, Ltd. (a)............... 1,044 20,062 IHI Corp. .................... 10,311 12,853 JTEKT Corp. .................. 1,508 11,428 Kawasaki Heavy Industries, Ltd. (a).................... 8,978 17,728 Komatsu, Ltd. (a)............. 5,539 68,313 Komori Corp. ................. 788 8,493 Kubota Corp. (a).............. 4,663 32,613 Kurita Water Industries, Ltd. (a)......................... 976 25,625 Makita Corp. ................. 976 21,178 Minebea Co., Ltd. (a)......... 3,255 10,952 Mitsubishi Heavy Industries, Ltd. (a).................... 18,676 81,379 Mitsui Engineering & Shipbuilding Co., Ltd. ..... 6,567 10,722 Mori Seiki Co., Ltd. (a)...... 868 6,607 NGK Insulators, Ltd. ......... 1,320 14,460 NSK, Ltd. (a)................. 2,463 9,021 NTN Corp. (a)................. 2,495 7,349 OKUMA Corp. (a)............... 1,648 6,054 OSG Corp. (a)................. 1,112 9,311 SMC Corp. .................... 320 32,123 Sumitomo Heavy Industries, Ltd. ....................... 3,795 14,652 Tadano, Ltd. ................. 780 4,044 The Japan Steel Works, Ltd. .. 2,708 36,744 THK Co., Ltd. (a)............. 1,100 11,285 Toshiba Machine Co., Ltd. .... 1,944 5,619 ----------- 583,630 ----------- MARINE -- 0.7% Kawasaki Kisen Kaisha, Ltd. (a)......................... 4,759 21,629 Mitsui OSK Lines, Ltd. ....... 5,491 32,831 Nippon Yusen KK............... 7,995 48,067 ----------- 102,527 -----------
SPDR RUSSELL/NOMURA PRIME JAPAN ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- MEDIA -- 0.6% Dentsu, Inc. (a).............. 16 $ 31,241 Fuji Television Network, Inc. ....................... 2 2,826 Jupiter Telecommunications Co. (a)......................... 24 24,781 Nippon Television Network Corp. ...................... 20 2,085 Toho Co, Ltd. (a)............. 1,352 28,427 Tokyo Broadcasting System, Inc. ....................... 100 1,505 ----------- 90,865 ----------- METALS & MINING -- 2.8% Daido Steel Co., Ltd. ........ 3,199 9,422 Dowa Holdings Co., Ltd. ...... 1,767 6,335 JFE Holdings, Inc. ........... 3,447 88,789 Kobe Steel, Ltd. ............. 17,645 31,533 Mitsubishi Materials Corp. ... 8,027 19,747 Mitsui Mining & Smelting Co., Ltd. ....................... 4,839 9,982 Nippon Steel Corp. (a)........ 27,755 88,792 Nisshin Steel Co., Ltd. (a)... 6,951 13,956 OSAKA Titanium Technologies Co. ........................ 36 882 Pacific Metals Co., Ltd. ..... 988 4,828 Sumitomo Metal Industries, Ltd. ....................... 24,340 58,266 Sumitomo Metal Mining Co., Ltd. ....................... 3,575 37,150 Toho Titanium Co., Ltd. ...... 56 599 Tokyo Steel Manufacturing Co., Ltd. (a).................... 1,144 11,762 Yodogawa Steel Works, Ltd. ... 3,963 16,263 ----------- 398,306 ----------- MULTILINE RETAIL -- 0.5% Isetan Mitsukoshi Holdings, Ltd. (a)(b)................. 2,441 20,654 Ryohin Keikaku Co., Ltd. ..... 236 11,038 Takashimaya Co., Ltd. (a)..... 3,332 24,774 The Daiei, Inc. (a)(b)........ 1,402 8,769 ----------- 65,235 ----------- OFFICE ELECTRONICS -- 2.0% Brother Industries, Ltd. (a).. 1,932 11,232 Canon, Inc. (a)............... 6,958 212,616 Ricoh Co., Ltd. .............. 4,555 56,479 ----------- 280,327 ----------- OIL, GAS & CONSUMABLE FUELS -- 2.1% Cosmo Oil Co., Ltd. .......... 5,927 17,915 Inpex Holdings, Inc. (a)...... 14 107,799 Nippon Mining Holdings, Inc. (a)......................... 7,751 32,321 Nippon Oil Corp. ............. 10,430 51,431 Osaka Gas Co., Ltd. (a)....... 13,150 60,056 TonenGeneral Sekiyu K.K. (a).. 2,547 25,147 ----------- 294,669 ----------- PAPER & FOREST PRODUCTS -- 0.5% Nippon Paper Group, Inc. ..... 8 31,594 OJI Paper Co., Ltd. (a)....... 5,839 33,817 Sumitomo Forestry Co., Ltd. .. 1,268 10,127 ----------- 75,538 ----------- PERSONAL PRODUCTS -- 0.5% Mandom Corp. ................. 1,116 31,516 Shiseido Co., Ltd. (a)........ 2,232 44,936 ----------- 76,452 ----------- PHARMACEUTICALS -- 5.7% Astellas Pharma, Inc. ........ 2,871 114,967 Chugai Pharmaceutical Co., Ltd. (a).................... 1,716 32,616 Daiichi Sankyo Co., Ltd. ..... 4,251 98,479 Dainippon Sumitomo Pharma Co., Ltd. ....................... 960 8,811 Eisai Co., Ltd. .............. 1,140 46,531 Hisamitsu Pharmaceutical Co., Inc. ....................... 504 20,349 Kissei Pharmaceutical Co., Ltd. ....................... 1,000 30,778 Kyowa Hakko Kogyo Co., Ltd. .. 1,833 18,785 Mitsubishi Tanabe Pharma Corp. ...................... 1,000 14,859 Mochida Pharmaceutical Co., Ltd. ....................... 1,000 11,947 Nichi-iko Pharmaceutical Co., Ltd. ....................... 200 6,122 Ono Pharmaceutical Co., Ltd. ....................... 432 22,255 Santen Pharmaceutical Co., Ltd. (a).................... 956 28,580 Seikagaku Corp. .............. 800 8,587 Shionogi & Co., Ltd. ......... 2,496 63,192 Taisho Pharmaceutical Co., Ltd. ....................... 592 12,428 Takeda Pharmaceutical Co., Ltd. ....................... 5,055 258,745 Torii Pharmaceutical Co., Ltd. ....................... 200 3,137 Tsumura & Co. ................ 100 3,673 ----------- 804,841 ----------- REAL ESTATE MANAGEMENT & DEVELOPMENT -- 2.3% Aeon Delight Co., Ltd. ....... 200 5,747 Daito Trust Construction Co., Ltd. ....................... 764 39,443 Heiwa Real Estate Co., Ltd. (a)......................... 4,356 11,052 K.K. DaVinci Holdings (a)(b).. 14 865 Leopalace21 Corp. ............ 1,044 10,354 Mitsubishi Estate Co., Ltd. .. 7,111 113,509 Mitsui Fudosan Co., Ltd. ..... 4,923 79,344 Sumitomo Realty & Development Co., Ltd. .................. 2,843 41,210 Tokyo Tatemono Co., Ltd. (a).. 2,540 11,292 Tokyu Land Corp. (a).......... 4,664 17,236 Urban Corp. (a)(d)(e)......... 1,458 16 ----------- 330,068 ----------- ROAD & RAIL -- 4.8% Central Japan Railway Co. .... 9 77,143 East Japan Railway Co. ....... 24 182,416 Keihin Electric Express Railway Co., Ltd. (a)....... 4,355 38,193 Keisei Electric Railway Co., Ltd. (a).................... 3,147 19,267 Kintetsu Corp. (a)............ 12,038 54,978 Nagoya Railroad Co., Ltd. .... 9,362 29,744 Nankai Electric Railway Co., Ltd. (a).................... 6,111 29,257 Nippon Express Co., Ltd. ..... 6,555 27,044 Odakyu Electric Railway Co., Ltd. (a).................... 4,483 38,821 Sagami Railway Co., Ltd. (a).. 8,254 36,695 Tobu Railway Co., Ltd. (a).... 7,007 41,354 Tokyu Corp. .................. 6,391 31,656 West Japan Railway Co. ....... 15 67,678 ----------- 674,246 ----------- SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT -- 0.9% Advantest Corp. (a)........... 1,316 20,760 Disco Corp. (a)............... 484 9,781 Elpida Memory, Inc. (a)(b).... 2,176 12,914 Rohm Co., Ltd. (a)............ 276 13,701 Sanken Electric Co., Ltd. (a)......................... 3,404 13,068 Shinko Electric Industries Co., Ltd. (a)............... 592 4,709 SUMCO Corp. (a)............... 1,046 12,808 Tokyo Electron, Ltd. ......... 1,140 38,985 ----------- 126,726 ----------- SOFTWARE -- 2.5% Konami Corp. ................. 792 19,920 Nintendo Co., Ltd. ........... 748 278,489 NSD Co., Ltd. (a)............. 932 7,217 Square Enix Co., Ltd. (a)..... 896 28,417
SPDR RUSSELL/NOMURA PRIME JAPAN ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- Trend Micro, Inc. (b)......... 368 $ 12,544 ----------- 346,587 ----------- SPECIALTY RETAIL -- 2.3% Aoyama Trading Co., Ltd. ..... 984 15,425 Autobacs Seven Co., Ltd. ..... 1,480 33,959 Citizen Holdings Co., Ltd. (a)......................... 3,103 10,954 Culture Convenience Club Co., Ltd. (a).................... 1,532 15,413 Fast Retailing Co., Ltd. (a).. 476 68,158 Hikari Tsushin, Inc. ......... 184 3,422 J Front Retailing Co., Ltd. (a)......................... 3,778 15,254 Marui Group Co., Ltd. (a)..... 2,616 14,862 Nitori Co., Ltd. (a).......... 510 39,438 Sanrio Co., Ltd. ............. 548 5,151 Shimachu Co., Ltd. ........... 884 19,552 Shimamura Co., Ltd. .......... 332 25,307 USS Co., Ltd. ................ 410 21,439 Yamada Denki Co., Ltd. ....... 610 41,586 ----------- 329,920 ----------- TEXTILES, APPAREL & LUXURY GOODS -- 0.5% Asics Corp. .................. 1,064 8,439 Gunze, Ltd. (a)............... 4,223 13,696 Nisshinbo Industries, Inc. ... 1,584 11,743 Onward Kashiyama Co., Ltd. ... 1,580 12,305 The Japan Wool Textile Co., Ltd. ....................... 2,031 13,846 Toyobo Co., Ltd. (a).......... 9,302 13,853 ----------- 73,882 ----------- TOBACCO -- 0.7% Japan Tobacco, Inc. .......... 31 100,883 ----------- TRADING COMPANIES & DISTRIBUTORS -- 3.0% Hanwa Co., Ltd. .............. 3,207 9,906 Inaba Denki Sangyo Co., Ltd. ....................... 956 25,469 Itochu Corp. ................. 8,266 40,395 Iwatani Corp. (a)............. 7,451 18,247 Marubeni Corp. ............... 10,402 38,556 Mitsubishi Corp. ............. 7,807 106,620 Mitsui & Co., Ltd. ........... 10,202 101,401 Sojitz Corp. ................. 8,528 13,829 Sumitomo Corp. (a)............ 6,475 55,714 Toyota Tsusho Corp. .......... 1,039 10,831 ----------- 420,968 ----------- TRANSPORTATION INFRASTRUCTURE -- 0.3% Kamigumi Co., Ltd. (a)........ 2,395 21,083 Mitsubishi Logistics Corp. ... 1,216 15,011 ----------- 36,094 ----------- WIRELESS TELECOMMUNICATION SERVICES -- 3.0% KDDI Corp. ................... 23 161,114 NTT DoCoMo, Inc. ............. 100 194,595 Softbank Corp. (a)............ 3,915 69,230 ----------- 424,939 ----------- TOTAL COMMON STOCKS -- (Cost $19,758,401).......... 14,129,369 ----------- SHORT TERM INVESTMENTS -- 14.7% UNITED STATES -- 14.7% MONEY MARKET FUNDS -- 14.7% State Street Navigator Securities Lending Prime Portfolio (f)(g)............ 2,074,713 2,074,713 STIC Prime Portfolio.......... 4,514 4,514 ----------- TOTAL SHORT TERM INVESTMENTS -- (Cost $2,079,227)........... 2,079,227 ----------- TOTAL INVESTMENTS -- 114.4% (Cost $21,837,628).......... 16,208,596 OTHER ASSETS AND LIABILITIES -- (14.4)%...... (2,036,817) ----------- NET ASSETS -- 100.0%.......... $14,171,779 ===========
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Non-income producing security. (c) Amount represents less than 0.05% of net assets. (d) Company has filed for civil rehabilitation (insolvency). (e) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (f) Affiliated Fund managed by SSgA Funds Management, Inc. (g) Investments of cash collateral for securities loaned. SPDR RUSSELL/NOMURA SMALL CAP JAPAN ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ COMMON STOCKS -- 99.8% JAPAN -- 99.8% AUTO COMPONENTS -- 2.6% Ahresty Corp. .............. 7,500 $ 23,580 FCC Co., Ltd. (a)........... 15,913 131,833 Futaba Industrial Co., Ltd. ..................... 17,194 66,007 Kayaba Industry Co., Ltd. (a)....................... 60,902 115,556 Keihin Corp. (a)............ 12,641 89,944 Koito Manufacturing Co., Ltd. (a).................. 16,000 96,900 Musashi Seimitsu Industry Co., Ltd. (a)............. 11,152 95,097 NHK Spring Co., Ltd. (a).... 32,000 115,080 Nippon Seiki Co., Ltd. ..... 9,939 57,562 Nissin Kogyo Co., Ltd. ..... 15,934 116,363 Press Kogyo Co., Ltd. ...... 47,569 64,020 Showa Corp. (a)............. 20,139 70,425 Takata Corp. (a)............ 6,700 46,342 The Yokohama Rubber Co., Ltd. ..................... 39,986 195,850 Tokai Rika Co., Ltd. ....... 10,200 87,541 Topre Corp. ................ 22,834 165,241 Toyo Tire & Rubber Co., Ltd. ..................... 78,372 140,058 Toyoda Gosei Co., Ltd. ..... 10,798 123,882 Toyota Boshoku Corp. ....... 10,000 79,647 ------------ 1,880,928 ------------ BEVERAGES -- 1.3% Ito En, Ltd. (a)............ 12,400 180,836 Mikuni Coca-Cola Bottling Co., Ltd. (a)............. 35,745 344,241 Takara Holdings, Inc. ...... 76,937 448,127 ------------ 973,204 ------------ BIOTECHNOLOGY -- 0.1% AnGes MG, Inc. (b).......... 35 51,506 ------------ BUILDING PRODUCTS -- 3.4% Aica Kogyo Co., Ltd. ....... 36,119 397,249 Bunka Shutter Co., Ltd. .... 79,577 340,605 Central Glass Co., Ltd. .... 81,309 322,904 Nichias Corp. .............. 10,000 24,600 Nitto Boseki Co., Ltd. ..... 82,020 160,149 Noritz Corp. (a)............ 23,665 311,444 Sankyo-Tateyama Holdings, Inc. ..................... 158,467 146,842 Sanwa Shutter Corp. ........ 80,910 306,146 Sekisui Jushi Corp. ........ 53,938 459,946 ------------ 2,469,885 ------------ CAPITAL MARKETS -- 1.9% JAFCO Co., Ltd. (a)......... 7,300 181,594 Japan Asia Investment Co., Ltd. (a).................. 36,188 25,948 kabu.com Securities Co., Ltd (a)....................... 30 35,676 Matsui Securities Co., Ltd (a)....................... 10,400 85,242 Mito Securities Co., Ltd. (a)....................... 81,129 244,327 Monex Beans Holdings, Inc. (a)....................... 362 114,251 Okasan Holdings, Inc. ...... 42,447 181,682 SBI Holdings, Inc. (a)...... 1,269 189,685 Tokai Tokyo Securities Co., Ltd. (a).................. 87,721 235,148 Toyo Securities Co., Ltd. .. 58,457 113,496 ------------ 1,407,049 ------------ CHEMICALS -- 7.2% ADEKA Corp. ................ 40,213 291,450 Air Water, Inc. ............ 41,390 360,251 Asahi Organic Chemicals Industry Co., Ltd. (a).... 120,540 396,259 C. Uyemura & Co., Ltd. (a).. 3,976 81,581 Daicel Chemical Industries, Ltd. (a).................. 52,000 242,648 Denki Kagaku Kogyo Kabushiki Kaisha.................... 73,000 174,749 DIC Corp. .................. 107,000 220,728 Fujikura Kasei Co., Ltd. ... 28,738 146,464 Fujimi, Inc. (a)............ 6,073 70,143 Ishihara Sangyo Kaisha, Ltd. (a)(b).................... 159,811 132,221 Kansai Paint Co., Ltd. (a).. 44,000 220,849 Lintec Corp. ............... 16,108 218,742 Mitsubishi Rayon Co., Ltd. (a)....................... 84,000 248,340 Nifco, Inc. ................ 20,079 198,686 Nihon Parkerizing Co., Ltd. (a)....................... 9,401 80,165 Nippon Soda Co., Ltd. ...... 42,065 164,733 Nippon Valqua Industries, Ltd. ..................... 81,025 208,261 Nissan Chemical Industries, Ltd. (a).................. 25,000 235,797 NOF Corp. .................. 79,731 309,601 Okamoto Industries, Inc. (a)....................... 121,841 479,837 SK Kaken Co., Ltd. ......... 780 17,209 Sumitomo Bakelite Co., Ltd. (a)....................... 43,000 170,767 Toagosei Co., Ltd. ......... 17,000 50,259 Tokai Carbon Co., Ltd. (a).. 31,542 128,743 Tokuyama Corp. ............. 31,000 255,113 Tosoh Corp. (a)............. 77,000 184,324 ------------ 5,287,920 ------------ COMMERCIAL BANKS -- 8.2% Aozora Bank, Ltd. .......... 111,290 101,898 Bank of the Ryukyus, Ltd. .. 16,081 156,819 Kansai Urban Banking Corp. .................... 52,000 78,588 Kiyo Holdings, Inc. (a)..... 241,754 365,365 The Aichi Bank, Ltd. ....... 3,949 297,536 The Bank of Iwate, Ltd. .... 4,356 268,135 The Bank of Nagoya, Ltd. ... 40,000 217,540 The Biwako Bank, Ltd. ...... 120,049 158,918 The Daishi Bank, Ltd. ...... 60,000 262,769 The Fukushima Bank, Ltd. ... 159,478 89,723 The Higo Bank, Ltd. ........ 40,000 247,987 The Hokkoku Bank, Ltd. (a).. 49,000 169,189 The Hyakujushi Bank, Ltd. .. 47,000 262,868 The Juroku Bank, Ltd. ...... 58,000 271,285 The Kagoshima Bank, Ltd. ... 40,000 328,737 The Keiyo Bank, Ltd. ....... 48,000 242,515 The Musashino Bank, Ltd. ... 6,100 234,848 The Nagano Bank, Ltd. ...... 120,534 319,119 The Nanto Bank, Ltd. (a).... 44,000 251,429 The San-In Godo Bank, Ltd. ..................... 40,000 319,471 The Shikoku Bank, Ltd. ..... 41,000 219,360 The Taiko Bank, Ltd. ....... 77,000 197,915 The Tochigi Bank, Ltd. ..... 40,846 246,923 The Tokushima Bank, Ltd. ... 41,305 214,613 The Tokyo Tomin Bank, Ltd. (a)....................... 8,205 129,886 Tomato Bank, Ltd. .......... 122,872 317,176 ------------ 5,970,612 ------------ COMMERCIAL SERVICES & SUPPLIES -- 2.9% Arrk Corp. (b).............. 9,600 13,344 Daiseki Co., Ltd. (a)....... 10,993 204,701 en-japan, Inc. (a).......... 41 26,640 MEITEC Corp. ............... 13,944 237,194 Moshi Moshi Hotline, Inc. (a)....................... 12,072 316,282 Nippon Kanzai Co., Ltd. (a)....................... 12,752 253,071 Nissha Printing Co., Ltd. (a)....................... 8,142 317,058 Okamura Corp. (a)........... 34,884 193,180
SPDR RUSSELL/NOMURA SMALL CAP JAPAN ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ Oyo Corp. .................. 29,760 $ 386,404 Park24 Co., Ltd. (a)........ 28,285 208,744 ------------ 2,156,618 ------------ COMMUNICATIONS EQUIPMENT -- 1.1% Aiphone Co., Ltd. (a)....... 17,806 329,995 Denki Kogyo Co., Ltd. ...... 41,303 254,698 Epson Toyocom Corp. (a)..... 41,705 76,831 Hitachi Kokusai Electric, Inc. (a).................. 32,634 169,920 ------------ 831,444 ------------ COMPUTERS & PERIPHERALS -- 0.1% Wacom Co., Ltd. (a)......... 119 101,737 ------------ CONSTRUCTION & ENGINEERING -- 3.2% Chiyoda Corp. (a)........... 25,000 134,859 Chugai Ro Co., Ltd. (a)..... 67,522 208,562 COMSYS Holdings Corp. ...... 18,000 164,611 Daimei Telecom Engineering Corp. (a)................. 6,229 57,308 Kyowa Exeo Corp. ........... 40,676 431,215 Kyudenko Corp. (a).......... 67,657 548,570 Maeda Corp. (a)............. 82,158 326,276 Penta-Ocean Construction Co., Ltd. (b)............. 108,000 152,499 Sanki Engineering Co., Ltd. (a)....................... 42,196 293,254 Tokyu Construction Co., Ltd. ..................... 2 6 ------------ 2,317,160 ------------ CONSTRUCTION MATERIALS -- 0.7% Sumitomo Osaka Cement Co., Ltd. ..................... 82,000 205,339 Taiheiyo Cement Corp. ...... 171,000 320,684 ------------ 526,023 ------------ CONSUMER FINANCE -- 0.6% Aeon Credit Service Co., Ltd. (a).................. 17,800 184,185 Aiful Corp. (a)............. 16,300 45,493 OMC Card, Inc. (b).......... 62 118 Orient Corp. (b)............ 79,000 84,534 Takefuji Corp. (a).......... 17,350 138,570 ------------ 452,900 ------------ CONTAINERS & PACKAGING -- 1.0% Fuji Seal International, Inc. (a).................. 15,970 253,336 Rengo Co., Ltd. (a)......... 60,063 486,997 ------------ 740,333 ------------ DISTRIBUTORS -- 0.8% Canon Marketing Japan, Inc. (a)....................... 13,600 215,890 Yokohama Reito Co., Ltd. ... 51,580 356,195 ------------ 572,085 ------------ DIVERSIFIED FINANCIAL SERVICES -- 0.9% Japan Securities Finance Co., Ltd. ................ 32,319 152,949 Osaka Securities Exchange Co., Ltd. ................ 58 253,370 Ricoh Leasing Co., Ltd. (a)....................... 11,967 213,202 Sparx Group Co., Ltd. ...... 179 26,855 ------------ 646,376 ------------ ELECTRIC UTILITIES -- 0.4% Japan Wind Dev Co. ......... 20 58,687 The Okinawa Electric Power Co., Inc. ................ 3,000 220,739 ------------ 279,426 ------------ ELECTRICAL EQUIPMENT -- 2.7% Daihen Corp. (a)............ 52,971 202,184 Fuji Electric Holdings Co., Ltd. (a).................. 93,000 136,448 Fujikura, Ltd. ............. 59,000 190,050 GS Yuasa Corp. (a).......... 123,287 727,618 Japan Cash Machine Co., Ltd. ..................... 24,224 224,469 Shinko Electric Co., Ltd. (a)....................... 80,826 271,055 SWCC Showa Holdings Co., Ltd. ..................... 242,075 154,885 Toyo Tanso Co., Ltd. (a).... 1,800 67,512 ------------ 1,974,221 ------------ ELECTRONIC EQUIPMENT & INSTRUMENTS -- 4.8% Alps Electric Co., Ltd. .... 29,900 143,480 Arisawa Manufacturing Co., Ltd. (a).................. 15,972 55,149 Dainippon Screen Manufacturing Co., Ltd. (a)....................... 30,000 56,922 Enplas Corp. (a)............ 17,889 196,552 ESPEC Corp. ................ 31 192 Hakuto Co., Ltd. ........... 24,811 219,235 Hitachi High-Technologies Corp. (a)................. 11,300 177,135 Horiba, Ltd. (a)............ 11,465 156,450 Hosiden Corp. (a)........... 18,695 288,726 Japan Aviation Electronics Industry, Ltd. ........... 21,971 90,162 Koa Corp. .................. 20,091 112,811 Mabuchi Motor Co., Ltd. (a)....................... 4,114 167,465 Nidec Sankyo Corp. ......... 26,917 98,879 Nihon Dempa Kogyo Co., Ltd. (a)....................... 6,095 70,329 Nippon Ceramic Co., Ltd. (a)....................... 15,223 148,284 Nippon Chemi-Con Corp. ..... 41,432 86,383 Oki Electric Industry Co., Ltd. (b)(a)............... 137,000 86,144 Ryosan Co., Ltd. ........... 7,996 189,205 Ryoyo Electro Corp. (a)..... 18,704 162,590 Star Micronics Co., Ltd. (a)....................... 14,269 148,278 Taiyo Yuden Co., Ltd. (a)... 19,000 104,799 Toko, Inc. (b).............. 110,739 125,826 Yamatake Corp. (a).......... 18,148 431,428 Yokogawa Electric Corp. .... 33,600 215,722 ------------ 3,532,146 ------------ ENGINEERING & CONSTRUCTION -- 0.4% Kinden Corp. ............... 20,924 186,735 Shinko Plantech Co Ltd. .... 8,186 67,457 Toyo Engineering Corp. ..... 15,000 45,339 ------------ 299,531 ------------ FOOD & STAPLES RETAILING -- 2.2% Cawachi, Ltd. (a)........... 12,335 276,228 Circle K Sunkus Co., Ltd. (a)....................... 28,198 505,169 Izumiya Co., Ltd. .......... 41,933 271,998 Ministop Co., Ltd. ......... 18,894 390,385 Sugi Pharmacy Co., Ltd. (a)....................... 6,500 171,015 ------------ 1,614,795 ------------ FOOD PRODUCTS -- 6.1% Ariake Japan Co., Ltd. (a).. 14,164 264,061 Fujicco Co., Ltd. (a)....... 40,657 529,236 Hokuto Corp. (a)............ 25,821 726,349 Kagome Co., Ltd. (a)........ 28,267 473,663 Marudai Food Co., Ltd. (a).. 120,417 336,078 Mitsui Sugar Co., Ltd. ..... 59,497 224,468 Nakamuraya Co., Ltd. (a).... 71,952 404,804 Nichirei Corp. ............. 16,000 75,014 Nippon Suisan Kaisha, Ltd. (a)....................... 70,775 179,573 Nosan Corp. (a)............. 114,463 252,538 Riken Vitamin Co., Ltd. .... 10,080 291,336 Snow Brand Milk Products Co., Ltd. (a)............. 121,255 458,803 Yamazaki Baking Co., Ltd. (b)....................... 14,000 212,973 ------------ 4,428,896 ------------
SPDR RUSSELL/NOMURA SMALL CAP JAPAN ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ GAS UTILITIES -- 0.5% Shizuoka Gas Co., Ltd. ..... 60,319 $ 382,608 ------------ HEALTH CARE EQUIPMENT & SUPPLIES -- 1.9% Fukuda Denshi Co., Ltd. .... 9,486 244,868 Miraca Holdings, Inc. ...... 14,500 309,195 Nakanishi, Inc. ............ 1,947 122,855 Nihon Kohden Corp. (a)...... 6,400 148,616 Paramount Bed Co., Ltd. (a)....................... 17,310 232,773 Sysmex Corp. (a)............ 8,205 294,167 Topcon Corp. ............... 14,319 61,446 ------------ 1,413,920 ------------ HOTELS, RESTAURANTS & LEISURE -- 3.0% DOUTOR NICHIRES Holdings Co., Ltd. (a)............. 21,775 472,732 McDonald's Holdings Co. (Japan), Ltd. (a)......... 29,000 575,841 MOS Food Services, Inc. .... 31,514 462,368 Nissin Healthcare Food Service Co., Ltd. ........ 20,708 231,866 Round One Corp. ............ 95 70,425 Tokyo Dome Corp. ........... 58,085 214,014 Zensho Co., Ltd. (a)........ 28,246 164,210 ------------ 2,191,456 ------------ HOUSEHOLD DURABLES -- 1.8% Clarion Co., Ltd. .......... 64,472 43,384 Daikyo, Inc. ............... 80,352 68,253 France Bed Holdings Co., Ltd. ..................... 158,734 250,402 Goldcrest Co., Ltd. (a)..... 6,059 147,715 Haseko Corp. ............... 177,000 183,541 Juki Corp. (a).............. 40,450 41,499 JVC KENWOOD Holdings, Inc. (b)....................... 162,115 64,381 Misawa Homes Holdings, Inc. (b)....................... 8,666 23,900 Rinnai Corp. (a)............ 12,251 473,011 ------------ 1,296,086 ------------ HOUSEHOLD PRODUCTS -- 0.3% Lion Corp. (a).............. 37,000 197,959 ------------ INDUSTRIAL CONGLOMERATES -- 0.3% Katakura Industries Co., Ltd. (a).................. 17,880 211,444 ------------ INSURANCE -- 0.3% Nissay Dowa General Insurance Co., Ltd. (a)... 41,000 248,759 ------------ INTERNET & CATALOG RETAIL -- 0.3% Senshukai Co., Ltd. (a)..... 30,224 235,724 ------------ INTERNET SOFTWARE & SERVICES -- 1.5% Access Co., Ltd. (a)(b)..... 58 158,484 DeNA Co., Ltd. (a).......... 55 172,554 eAccess, Ltd. (a)........... 463 285,002 GMO Internet, Inc. (a)(b)... 4,593 23,054 Gourmet Navigator, Inc. .... 22 57,785 Index Holdings (b)(a)....... 213 11,466 Kakaku.com, Inc. (a)........ 77 294,749 mixi, Inc. (a)(b)........... 12 72,410 So-net Entertainment Corp. .................... 13 32,081 ------------ 1,107,585 ------------ IT SERVICES -- 2.1% CSK Holdings Corp. ......... 9,900 52,858 INES Corp. ................. 40,260 202,077 IT Holdings Corp. (b)....... 14,737 225,160 Itochu Techno-Solutions Corp. (a)................. 9,000 215,444 Net One Systems Co., Ltd. .. 105 208,842 OBIC Co., Ltd. (a).......... 2,001 322,058 Otsuka Corp. ............... 3,700 165,714 Trans Cosmos, Inc. (a)...... 15,967 112,377 ------------ 1,504,530 ------------ LEISURE EQUIPMENT & PRODUCTS -- 0.4% Aruze Corp. ................ 5,000 49,531 Mars Engineering Corp. (a).. 2,458 82,160 Roland Corp. ............... 10,176 134,707 ------------ 266,398 ------------ MACHINERY -- 5.8% Amano Corp. (a)............. 28,732 221,552 Asahi Diamond Industrial Co., Ltd. (a)............. 40,942 227,179 CKD Corp. .................. 24,305 92,233 Daifuku Co., Ltd. (a)....... 21,181 120,801 Ebara Corp. (a)............. 69,476 157,116 Fuji Machine Manufacturing Co., Ltd. ................ 12,071 102,534 Furukawa Co., Ltd. ......... 121,280 121,748 Glory, Ltd. (a)............. 10,887 209,213 Hino Motors, Ltd. .......... 39,998 80,305 Hitachi Zosen Corp. (a)(b).. 252,726 225,822 Kitz Corp. ................. 40,502 123,315 Komori Corp. ............... 12,540 135,153 Kyokuto Kaihatsu Kogyo Co., Ltd. ..................... 39,640 143,430 Makino Milling Machine Co., Ltd. (a).................. 39,739 106,088 Minebea Co., Ltd. (a)....... 62,000 208,604 Mori Seiki Co., Ltd. (a).... 8,800 66,983 Nabtesco Corp. ............. 30,052 197,252 Nachi-Fujikoshi Corp. (a)... 75,418 139,771 Namura Shipbuilding Co., Ltd. (a).................. 6,500 23,089 Nippon Sharyo, Ltd. (a)..... 80,970 255,460 Nippon Thompson Co., Ltd. .. 40,511 167,139 OKUMA Corp. (a)............. 19,192 70,501 OSG Corp. (a)............... 15,400 128,942 Ryobi, Ltd. ................ 41,723 83,768 Shima Seiki Manufacturing, Ltd. (a).................. 5,800 112,673 Sintokogio, Ltd. ........... 20,019 134,049 Tadano, Ltd. ............... 37,913 196,570 Takeuchi Manufacturing Co., Ltd. ..................... 2,100 19,529 Tocalo Co., Ltd. ........... 36 313 Toshiba Machine Co., Ltd. (a)....................... 41,009 118,526 Tsubakimoto Chain Co. ...... 42,124 128,254 Union Tool Co. (a).......... 4,232 94,304 ------------ 4,212,216 ------------ MARINE -- 0.3% Daiichi Chuo Kisen Kaisha (a)....................... 9,000 24,622 Iino Kaiun Kaisha, Ltd. (a)....................... 32,006 202,664 ------------ 227,286 ------------ MEDIA -- 2.3% Avex Group Holdings, Inc. (a)....................... 15,892 173,909 CyberAgent, Inc. (a)........ 70 42,548 Daiichikosho Co., Ltd. ..... 18,581 189,807 Hakuhodo DY Holdings, Inc. ..................... 4,114 221,925 Kadokawa Group Holdings, Inc. (a).................. 8,187 188,757 Shochiku Co., Ltd. (a)...... 41,243 286,176 Sky Perfect JSAT Corp. (a).. 921 440,434 Usen Corp. (a)(b)........... 19,380 23,731 Zenrin Co., Ltd. (a)........ 8,124 97,685 ------------ 1,664,972 ------------
SPDR RUSSELL/NOMURA SMALL CAP JAPAN ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ METALS & MINING -- 4.4% Daido Steel Co., Ltd. ...... 45,000 $ 132,543 Dowa Holdings Co., Ltd. .... 45,000 161,335 Godo Steel, Ltd. (a)........ 22,440 61,391 Hitachi Metals, Ltd. (a).... 25,000 113,348 Maruichi Steel Tube, Ltd. (a)....................... 13,100 357,667 Mitsui Mining & Smelting Co., Ltd. ................ 110,000 226,917 Nakayama Steel Works, Ltd. (a)....................... 82,212 198,615 Nippon Denko Co., Ltd. ..... 9,000 45,273 Nippon Yakin Kogyo Co., Ltd. (a)....................... 29,500 82,008 Nisshin Steel Co., Ltd. (a)....................... 118,000 236,911 OSAKA Titanium Technologies Co. (a)................... 4,200 102,857 Pacific Metals Co., Ltd. (a)....................... 23,759 116,108 Sanyo Special Steel Co., Ltd. (a).................. 41,750 119,746 Sumitomo Light Metal Industries, Ltd. (a)...... 160,135 144,855 Toho Titanium Co., Ltd. (a)....................... 3,600 38,522 Toho Zinc Co., Ltd. (a)..... 39,796 94,386 Tokyo Rope Manufacturing Co., Ltd. (a)............. 145,654 411,334 Tokyo Steel Manufacturing Co., Ltd. (a)............. 26,000 267,314 Yamato Kogyo Co., Ltd. ..... 12,948 339,947 ------------ 3,251,077 ------------ MULTILINE RETAIL -- 1.5% Don Quijote Co., Ltd. (a)... 11,600 228,545 H2O Retailing Corp. (a)..... 42,107 312,609 Matsuya Co., Ltd. (a)....... 14,108 310,952 Parco Co., Ltd. (a)......... 24,125 218,495 ------------ 1,070,601 ------------ OFFICE ELECTRONICS -- 0.2% Riso Kagaku Corp. .......... 14,047 139,308 ------------ OIL, GAS & CONSUMABLE FUELS -- 1.2% Cosmo Oil Co., Ltd. ........ 103,000 311,329 Itochu Enex Co, Ltd. ....... 44,104 306,514 Japan Petroleum Exploration Co. ...................... 6,425 276,421 ------------ 894,264 ------------ PAPER & FOREST PRODUCTS -- 0.3% Daio Paper Corp. ........... 11,940 146,731 Sumitomo Forestry Co., Ltd. (a)....................... 12,100 96,640 ------------ 243,371 ------------ PERSONAL PRODUCTS -- 1.2% Aderans Holdings Co., Ltd. (a)....................... 17,804 184,030 Mandom Corp. ............... 17,345 489,831 Milbon Co., Ltd. (a)........ 8,208 227,724 ------------ 901,585 ------------ PHARMACEUTICALS -- 2.7% Kaken Pharmaceutical Co., Ltd. ..................... 41,428 451,526 Mochida Pharmaceutical Co., Ltd. ..................... 41,483 495,599 Nichi-iko Pharmaceutical Co., Ltd. ................ 10,165 311,174 Rohto Pharmaceutical Co., Ltd. ..................... 31,493 431,835 Torii Pharmaceutical Co., Ltd. ..................... 19,400 304,322 ------------ 1,994,456 ------------ REAL ESTATE MANAGEMENT & DEVELOPMENT -- 1.8% Aeon Delight Co., Ltd. ..... 3,300 94,832 Daibiru Corp. (a)........... 23,226 243,405 Heiwa Real Estate Co., Ltd. (a)....................... 58,255 147,806 K.K. DaVinci Holdings (a)(b).................... 269 16,618 Kenedix, Inc. (a)(b)........ 137 38,055 Leopalace21 Corp. .......... 22,300 221,155 Nomura Real Estate Holdings, Inc. (a).................. 11,400 220,329 Shoei Co., Ltd. ............ 9,498 96,290 Suruga Corp. (c)(d)......... 10,689 -- TOC Co., Ltd. (a)........... 9,000 45,670 Tokyo Tatemono Co., Ltd. (a)....................... 41,000 182,272 ------------ 1,306,432 ------------ ROAD & RAIL -- 0.4% Sankyu, Inc. ............... 76,830 277,147 ------------ SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT -- 0.7% Disco Corp. (a)............. 6,719 135,788 NEC Electronics Corp. (b)... 7,600 70,173 Shinko Electric Industries Co., Ltd. (a)............. 13,600 108,170 SUMCO Corp. ................ 360 4,408 Tokyo Seimitsu Co., Ltd. (a)....................... 8,100 66,659 Ulvac, Inc. (a)............. 7,802 116,707 ------------ 501,905 ------------ SOFTWARE -- 0.8% DTS Corp. .................. 16,132 149,486 Fuji Soft, Inc. (a)......... 15,874 332,364 NSD Co., Ltd. (a)........... 16,078 124,509 ------------ 606,359 ------------ SPECIALTY RETAIL -- 4.3% ABC-Mart, Inc. ............. 4,700 170,579 Aoyama Trading Co., Ltd. ... 13,800 216,324 Autobacs Seven Co., Ltd. (a)....................... 12,188 279,658 Chiyoda Co., Ltd. (a)....... 15,913 294,035 Culture Convenience Club Co., Ltd. (a)............. 39,828 400,697 EDION Corp. (a)............. 24,050 116,735 Gulliver International Co., Ltd. (a).................. 3,243 54,771 Honeys Co., Ltd. (a)........ 8,292 79,673 K's Holdings Corp. (a)...... 12,302 204,513 Komeri Co Ltd (a)........... 5,330 127,591 Nishimatsuya Chain Co., Ltd. (a)....................... 16,066 145,507 Point, Inc. (a)............. 5,071 276,346 Right On Co., Ltd. (a)...... 2,640 42,549 Sanrio Co., Ltd. (a)........ 16,105 151,367 Shimachu Co., Ltd. ......... 11,000 243,298 United Arrows, Ltd. (a)..... 16,129 122,769 Xebio Co., Ltd. ............ 10,261 196,617 ------------ 3,123,029 ------------ TEXTILES, APPAREL & LUXURY GOODS -- 3.3% Atsugi Co., Ltd. ........... 281,470 391,233 Daidoh, Ltd. (a)............ 24,311 185,584 Daiwabo Co., Ltd. (a)....... 20,635 93,102 Gunze, Ltd. (a)............. 81,348 263,831 Nisshinbo Industries, Inc. ..................... 24,000 177,915 Onward Kashiyama Co., Ltd. ..................... 19,000 147,976 Sanyo Shokai, Ltd. (a)...... 41,516 162,126 Seiko Corp. (a)............. 40,649 90,132 The Japan Wool Textile Co., Ltd. (a).................. 42,170 287,491 Toyobo Co., Ltd. (a)........ 144,000 214,451 Unitika, Ltd. (a)........... 242,084 176,255 Wacoal Holdings Corp. (a)... 19,000 242,923 ------------ 2,433,019 ------------
SPDR RUSSELL/NOMURA SMALL CAP JAPAN ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ---------- ------------ TRADING COMPANIES & DISTRIBUTORS -- 2.4% Hanwa Co., Ltd. ............ 119,032 $ 367,666 Inaba Denki Sangyo Co., Ltd. ..................... 13,063 348,010 Inabata & Co., Ltd. (a)..... 48,375 149,955 Iwatani Corp. (a)........... 126,422 309,605 MISUMI Group, Inc. (a)...... 20,133 235,644 Nagase & Co., Ltd. ......... 18,000 172,951 Okaya & Co., Ltd. .......... 20,605 193,207 ------------ 1,777,038 ------------ TRANSPORTATION INFRASTRUCTURE -- 1.2% Japan Airport Terminal Co., Ltd. (a).................. 17,748 234,552 Mitsui-Soko Co., Ltd. (a)... 56,686 312,664 The Sumitomo Warehouse Co., Ltd. (a).................. 65,563 331,250 ------------ 878,466 ------------ TOTAL COMMON STOCKS -- (Cost $100,388,028)............. 73,073,795 ------------ SHORT TERM INVESTMENTS -- 26.2% UNITED STATES -- 26.2% MONEY MARKET FUNDS -- 26.2% State Street Navigator Securities Lending Prime Portfolio (e)(f).......... 17,837,261 17,837,261 STIC Prime Portfolio........ 1,402,490 1,402,490 ------------ TOTAL SHORT TERM INVESTMENTS -- (Cost $19,239,751)........ 19,239,751 ------------ TOTAL INVESTMENTS -- 126.0% (Cost $119,627,779)....... 92,313,546 OTHER ASSETS AND LIABILITIES -- (26.0)%.... (19,070,087) ------------ NET ASSETS -- 100.0%........ $ 73,243,459 ============
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Non-income producing security. (c) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (d) Company has filed for civil rehabilitation (insolvency). (e) Affiliated Fund managed by SSgA Funds Management, Inc. (f) Investments of cash collateral for securities loaned. SPDR S&P INTERNATIONAL DIVIDEND ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- COMMON STOCKS -- 99.6% AUSTRALIA -- 9.4% Aristocrat Leisure, Ltd. (a).. 57,609 $ 155,840 Australia & New Zealand Banking Group, Ltd. (a)..... 4,396 46,862 Boral, Ltd. (a)............... 73,810 237,747 Commonwealth Bank of Australia................... 659 13,278 Lend Lease Corp., Ltd. ....... 67,888 340,787 Macquarie Group, Ltd. ........ 1,837 36,899 National Australia Bank, Ltd. ....................... 25,990 378,169 Perpetual, Ltd. (a)........... 15,705 406,118 Suncorp-Metway, Ltd. ......... 51,242 300,098 TABCORP Holdings, Ltd. ....... 94,592 460,987 Wesfarmers, Ltd. (a).......... 11,840 148,587 Westpac Banking Corp. ........ 4,186 49,526 ----------- TOTAL AUSTRALIA............... 2,574,898 ----------- AUSTRIA -- 0.0% (b) Immofinanz Immobilien Anlagen AG (a)(c)................... 2,674 1,821 ----------- BELGIUM -- 6.3% Belgacom SA (a)............... 17,378 660,191 Cofinimmo REIT................ 3,214 422,279 Compagnie Maritime Belge SA (a)......................... 17,397 435,289 Dexia SA (a).................. 47,079 209,415 KBC Ancora.................... 964 16,388 ----------- TOTAL BELGIUM................. 1,743,562 ----------- CANADA -- 14.8% ARC Energy Trust.............. 19,935 324,580 Bank of Montreal.............. 2,211 55,969 Biovail Corp. ................ 106,782 998,189 Canadian Imperial Bank of Commerce.................... 547 22,638 Enerplus Resources Fund....... 24,159 468,894 Manitoba Telecom Services, Inc. (a).................... 18,841 549,128 NAL Oil & Gas Trust........... 65,299 425,805 National Bank of Canada....... 591 14,984 Peyto Energy Trust............ 45,965 368,614 Precision Drilling Trust (a).. 13,641 111,272 Russel Metals, Inc. (a)....... 25,371 390,481 Vermilion Energy Trust........ 16,055 327,603 ----------- TOTAL CANADA.................. 4,058,157 ----------- CZECH REPUBLIC -- 2.1% Telefonica O2 Czech Republic AS.......................... 26,175 574,807 ----------- DENMARK -- 1.0% D/S Norden A/S................ 7,617 260,318 Danske Bank A/S............... 963 9,352 ----------- TOTAL DENMARK................. 269,670 ----------- FINLAND -- 2.5% Kesko Oyj (Class B)........... 12,560 310,771 Outokumpu Oyj................. 11,466 131,969 Pohjola Bank PLC.............. 1,659 22,484 SanomaWSOY Oyj (a)............ 16,940 216,872 ----------- TOTAL FINLAND................. 682,096 ----------- FRANCE -- 10.9% AXA........................... 1,000 22,025 Credit Agricole SA............ 10,426 115,941 Euler Hermes SA............... 8,711 424,653 Fonciere des Regions (a)...... 499 33,988 Gecina SA REIT................ 465 32,086 M6-Metropole Television (a)... 35,811 689,191 Natixis....................... 5,141 8,933 PagesJaunes Groupe (a)........ 72,313 706,646 Renault SA (a)................ 9,295 239,675 Societe Television Francaise 1 (a)......................... 49,625 720,164 ----------- TOTAL FRANCE.................. 2,993,302 ----------- GERMANY -- 3.3% Deutsche Bank AG.............. 7,324 283,330 Deutsche Lufthansa AG (a)..... 40,833 635,143 ----------- TOTAL GERMANY................. 918,473 ----------- GREECE -- 0.6% Diana Shipping, Inc. ......... 11,902 151,870 ----------- IRELAND -- 1.1% Allied Irish Banks PLC (d).... 32,242 77,983 Allied Irish Banks PLC (d).... 19,548 47,036 Bank of Ireland............... 20,886 24,213 Irish Life & Permanent PLC (d)......................... 21,664 47,279 Irish Life & Permanent PLC (d)......................... 32,433 71,007 The Governor & Co. of the Bank of Ireland.................. 30,981 36,605 ----------- TOTAL IRELAND................. 304,123 ----------- ISRAEL -- 0.8% Delek Group, Ltd. ............ 6,070 199,280 Mizrahi Tefahot Bank, Ltd. ... 2,796 14,398 ----------- TOTAL ISRAEL.................. 213,678 ----------- ITALY -- 13.1% Alleanza Assicurazioni SpA.... 7,708 61,983 Arnoldo Mondadori Editore SpA......................... 143,904 696,617 Banca Popolare di Milano Scarl....................... 58,823 341,990 Credito Emiliano SpA.......... 3,195 16,466 Enel SpA...................... 90,328 567,847 Eni SpA....................... 9,933 231,135 Intesa Sanpaolo............... 102,482 257,131 Mediaset SpA.................. 142,771 804,254 Milano Assicurazioni SpA...... 127,674 390,885 UniCredit SpA................. 92,961 225,490 Unione di Banche Italiane ScpA........................ 1,197 17,121 ----------- TOTAL ITALY................... 3,610,919 ----------- JAPAN -- 0.9% Pacific Metals Co., Ltd. ..... 49,000 239,459 ----------- NETHERLANDS -- 3.1% Aegon NV...................... 48,022 302,057 Eurocommercial Properties NV (a)......................... 649 21,652 ING Groep NV.................. 2,837 28,906 Koninklijke BAM Groep NV (a).. 52,925 471,573 SNS Reaal..................... 3,771 20,548 ----------- TOTAL NETHERLANDS............. 844,736 ----------- NORWAY -- 0.0% (b) DnB NOR ASA................... 2,164 8,344 ----------- PORTUGAL -- 2.3% Portugal Telecom, SGPS, SA (a)......................... 74,322 627,099 ----------- SINGAPORE -- 3.6% Frontline, Ltd. (a)........... 16,015 457,434 Singapore Airlines, Ltd. ..... 69,000 539,261 ----------- TOTAL SINGAPORE............... 996,695 ----------- SOUTH AFRICA -- 3.1% ABSA Group, Ltd. ............. 13,161 153,960 Anglo Platinum, Ltd. ......... 4,233 236,993 Massmart Holdings, Ltd. ...... 17,580 160,797
SPDR S&P INTERNATIONAL DIVIDEND ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- Nedbank Group, Ltd. .......... 30,092 $ 310,847 ----------- TOTAL SOUTH AFRICA............ 862,597 ----------- SPAIN -- 4.0% Gestevision Telecinco SA (a).. 103,716 1,088,486 ----------- SWEDEN -- 4.2% Axfood AB (a)................. 10,694 226,512 Boliden AB Mines (a).......... 113,026 254,410 NCC AB (B Shares)............. 77,898 491,545 Swedbank AB (Class A) (a)..... 5,777 32,435 Volvo AB (Class B) (a)........ 29,927 162,352 ----------- TOTAL SWEDEN.................. 1,167,254 ----------- TAIWAN -- 0.6% Siliconware Precision Industries Co. ADR.......... 33,910 151,239 ----------- THAILAND -- 1.8% Siam Cement PCL............... 86,500 256,167 Siam Cement PCL (Foreign ownership limit)............ 76,595 240,048 ----------- TOTAL THAILAND................ 496,215 ----------- TURKEY -- 1.0% Tupras-Turkiye Petrol Rafinerileri AS............. 27,027 283,665 ----------- UNITED KINGDOM -- 9.1% Barclays PLC ADR.............. 16,684 163,503 HSBC Holdings PLC............. 1,916 18,236 IMI PLC....................... 43,513 170,009 Lloyds TSB Group PLC ADR...... 16,610 127,897 Marks & Spencer Group PLC..... 74,674 230,561 Next PLC (a).................. 20,002 310,873 Tate & Lyle PLC............... 45,213 260,508 United Utilities Group PLC.... 19,964 179,826 William Hill PLC.............. 67,560 208,839 Wolseley PLC.................. 151,890 838,579 ----------- TOTAL UNITED KINGDOM.......... 2,508,831 ----------- TOTAL COMMON STOCKS -- (Cost $47,771,120).......... 27,371,996 ----------- SHORT TERM INVESTMENTS -- 17.3% UNITED STATES -- 17.3% MONEY MARKET FUNDS -- 17.3% State Street Navigator Securities Lending Prime Portfolio (e)(f)............ 4,550,410 4,550,410 STIC Prime Portfolio.......... 205,233 205,233 ----------- TOTAL SHORT TERM INVESTMENTS -- (Cost $4,755,643)........... 4,755,643 ----------- TOTAL INVESTMENTS -- 116.9% (Cost $52,526,763).......... 32,127,639 OTHER ASSETS AND LIABILITIES -- (16.9)%...... (4,644,662) ----------- NET ASSETS -- 100.0%.......... $27,482,977 ===========
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Amount shown represents less than 0.05% of net assets. (c) Non-income producing security. (d) Reflects separate holdings of the issuer's common stock traded on different securities exchanges. (e) Affiliated Fund managed by SSgA Funds Management, Inc. (f) Investments of cash collateral for securities loaned. ADR = American Depositary Receipt REIT = Real Estate Investment Trust SPDR S&P INTERNATIONAL DIVIDEND ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Media................................. 17.9% Oil, Gas & Consumable Fuels........... 10.5 Commercial Banks...................... 10.2 Diversified Telecommunication Services............................ 8.8 Insurance............................. 5.9 Trading Companies & Distributors...... 4.4 Airlines.............................. 4.3 Pharmaceuticals....................... 3.6 Construction & Engineering............ 3.5 Metals & Mining....................... 3.1 Marine................................ 3.1 Food & Staples Retailing.............. 3.1 Hotels, Restaurants & Leisure......... 3.0 Real Estate Management & Development.. 3.0 Construction Materials................ 2.7 Capital Markets....................... 2.6 Electric Utilities.................... 2.1 Multiline Retail...................... 2.0 Machinery............................. 1.2 Food Products......................... 0.9 Automobiles........................... 0.9 Industrial Conglomerates.............. 0.7 Multi-Utilities....................... 0.7 Semiconductors & Semiconductor Equipment........................... 0.6 Diversified Financial Services........ 0.4 Energy Equipment & Services........... 0.4 Short Term Investments................ 17.3 Other Assets & Liabilities............ (16.9) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P INTERNATIONAL MID CAP ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- COMMON STOCKS -- 98.5% AUSTRALIA -- 6.7% Amcor, Ltd. .................. 5,592 $ 22,613 Aquila Resources, Ltd. (a)(b)...................... 1,030 2,370 Aristocrat Leisure, Ltd. (b).. 3,547 9,595 Arrow Energy, Ltd. (a)(b)..... 4,652 8,692 Asciano Group................. 4,026 4,238 Bendigo and Adelaide Bank, Ltd. (b).................... 1,842 14,127 Boral, Ltd. (b)............... 12,259 39,487 Caltex Australia, Ltd. ....... 1,400 7,018 CFS Retail Property Trust (b)......................... 51,521 67,171 Cochlear, Ltd. ............... 888 34,299 Computershare, Ltd. .......... 2,616 14,226 CSR, Ltd. (b)................. 19,620 24,075 Dexus Property Group (b)...... 60,573 34,630 Felix Resources, Ltd. ........ 676 4,148 GPT Group..................... 8,906 5,713 Harvey Norman Holdings, Ltd. (b)......................... 13,722 25,352 Macquarie Airports............ 7,573 12,672 Metcash, Ltd. (b)............. 19,521 59,612 Mirvac Group (b).............. 20,377 18,185 OneSteel, Ltd. ............... 67 115 OZ Minerals, Ltd. (b)(c)...... 305 117 Paladin Energy, Ltd. (a)(b)... 6,559 11,341 Sonic Healthcare, Ltd. ....... 5,895 59,842 TABCORP Holdings, Ltd. ....... 3,300 16,082 Tatts Group, Ltd. ............ 8,952 17,413 Toll Holdings, Ltd. .......... 5,264 22,644 ----------- TOTAL AUSTRALIA............... 535,777 ----------- AUSTRIA -- 0.5% Andritz AG.................... 1,260 31,807 Wienerberger AG............... 516 8,535 ----------- TOTAL AUSTRIA................. 40,342 ----------- BELGIUM -- 0.4% Ackermans & Van Haaren NV..... 613 31,016 ----------- CANADA -- 6.9% Alimentation Couche-Tard, Inc. (Class B)................... 3,023 35,360 Canadian Tire Corp., Ltd. (Class A) (b)............... 449 15,803 Eldorado Gold Corp. (a)(b).... 2,073 16,205 Equinox Minerals, Ltd. (a)(b)...................... 6,250 6,885 Fairfax Financial Holdings, Ltd. (b).................... 96 30,328 Finning International, Inc. (b)......................... 3,225 37,227 First Quantum Minerals, Ltd. ....................... 398 5,677 Fortis, Inc. ................. 3,023 60,215 Franco-Nevada Corp. (b)....... 748 12,894 Gildan Activewear, Inc. (a)(b)...................... 1,814 20,851 Inmet Mining Corp. (b)........ 605 9,596 Ivanhoe Mines, Ltd. (a)(b).... 1,956 5,181 Methanex Corp. ............... 1,814 20,131 Metro, Inc. .................. 2,620 78,526 Niko Resources, Ltd. (b)...... 605 20,823 Nortel Networks Corp. (a)(b).. 3,501 908 Oilexco, Inc. (a)(b).......... 2,419 559 Onex Corp. ................... 2,217 32,667 OPTI Canada, Inc. (a)(b)...... 3,426 4,995 Pan American Silver Corp. (a)(b)...................... 1,209 20,576 Petrobank Energy & Resources, Ltd. (a).................... 806 13,260 Sherritt International Corp. ...................... 4,033 10,323 Silver Wheaton Corp. (a)...... 1,692 10,965 Sino-Forest Corp. (a)(b)...... 1,814 14,503 Thompson Creek Metals Co., Inc. (a)(b)................. 915 3,632 TMX Group, Inc. (b)........... 1,209 24,670 Trican Well Service, Ltd. (a)(b)...................... 2,217 14,295 UTS Energy Corp. (a)(b)....... 5,444 3,528 Viterra, Inc. (a)(b).......... 2,419 18,615 ----------- TOTAL CANADA.................. 549,198 ----------- CHINA -- 3.6% Chinese Estates Holdings, Ltd. ....................... 21,123 23,984 Hengan International Group Co., Ltd. .................. 13,000 41,767 Hopewell Holdings............. 19,000 62,514 NWS Holdings, Ltd. ........... 13,000 19,357 Pacific Basin Shipping, Ltd. ....................... 29,000 13,171 PCCW, Ltd. ................... 47,000 22,438 Television Broadcasts, Ltd. .. 13,000 42,354 The Link REIT................. 38,310 63,272 ----------- TOTAL CHINA................... 288,857 ----------- DENMARK -- 1.4% D/S Norden A/S................ 328 11,210 DSV A/S (b)................... 3,426 36,150 Genmab A/S (a)................ 296 11,222 Jyske Bank A/S (a)............ 1,169 26,743 Rockwool International A/S (b)......................... 131 7,217 Sydbank A/S................... 1,915 22,978 ----------- TOTAL DENMARK................. 115,520 ----------- FINLAND -- 1.6% Elisa Oyj..................... 2,217 37,905 Kesko Oyj (Class B) (b)....... 559 13,831 Orion Oyj (Class B)........... 2,456 41,207 Outokumpu Oyj................. 793 9,127 Outotec Oyj................... 859 12,896 YIT Oyj (b)................... 2,259 14,382 ----------- TOTAL FINLAND................. 129,348 ----------- FRANCE -- 4.0% Atos Origin SA................ 1,069 26,621 Bourbon SA (b)................ 1,199 30,067 Groupe Eurotunnel SA (a)...... 1,541 8,247 Neopost SA.................... 760 68,489 Nexans SA..................... 453 26,793 SCOR SE....................... 2,945 66,993 UbiSoft Entertainment SA (a).. 865 16,773 Valeo SA (b).................. 1,621 23,919 Zodiac SA (b)................. 1,535 55,477 ----------- TOTAL FRANCE.................. 323,379 ----------- GERMANY -- 3.1% Bilfinger Berger AG........... 729 37,818 IVG Immobilien AG (b)......... 1,589 12,634 Kloeckner & Co. AG (b)........ 987 16,862 Lanxess AG.................... 1,478 28,208 Nordex AG (a)................. 768 10,676 Premiere AG (a)(b)............ 647 3,346 Rhoen-Klinikum AG............. 1,816 43,090 SGL Carbon AG (a)............. 878 29,169 Stada Arzneimittel AG......... 863 24,592 Symrise AG.................... 1,734 24,055 United Internet AG (b)........ 2,259 19,751 ----------- TOTAL GERMANY................. 250,201 ----------- GREECE -- 0.3% Alapis Holding Industrial and Commercial SA............... 3,212 2,411 Intralot SA................... 1,665 6,943 Titan Cement Co. SA........... 895 17,293 ----------- TOTAL GREECE.................. 26,647 -----------
SPDR S&P INTERNATIONAL MID CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- IRELAND -- 0.7% Dragon Oil PLC (a)............ 2,596 $ 5,893 Irish Life & Permanent PLC (d)......................... 1,505 3,295 Irish Life & Permanent PLC (d)......................... 1,655 3,612 Kerry Group PLC (Class A)..... 2,228 40,571 ----------- TOTAL IRELAND................. 53,371 ----------- ITALY -- 2.6% Banca Popolare di Milano Scarl (b)......................... 4,396 25,558 Davide Campari-Milano SpA..... 9,771 65,194 Milano Assicurazio............ 6,261 19,495 Parmalat SpA.................. 14,157 22,926 Saras SpA..................... 4,711 15,716 Societa Cattolica di Assicurazioni Scrl.......... 1,797 62,748 ----------- TOTAL ITALY................... 211,637 ----------- JAPAN -- 33.0% Acom Co., Ltd. ............... 10 415 Advantest Corp. (b)........... 1,100 17,352 Alfresa Holdings Corp. ....... 600 28,329 Amada Co., Ltd. .............. 8,000 37,948 Benesse Corp. ................ 1,500 65,030 Casio Computer Co., Ltd. ..... 3,800 23,433 Cosmo Oil Co., Ltd. .......... 19,000 57,430 Credit Saison Co., Ltd. (b)... 2,500 33,563 Daido Steel Co., Ltd. ........ 6,000 17,672 Elpida Memory, Inc. (a)(b).... 800 4,748 Fuji Heavy Industries, Ltd. .. 17,000 44,821 Fukuoka Financial Group, Inc. (b)......................... 13,000 55,212 Hirose Electric Co., Ltd. (b)......................... 600 59,702 Hokkaido Electric Power Co., Inc. (b).................... 500 12,548 Hokuhoku Financial Group, Inc. ....................... 19,000 44,015 Ibiden Co., Ltd. (b).......... 800 16,044 Idemitsu Kosan Co., Ltd. ..... 600 37,728 Isetan Mitsukoshi Holdings, Ltd. (a)(b)................. 4,600 38,921 J Front Retailing Co., Ltd. .. 10,000 40,375 Japan Real Estate Investment Corp. ...................... 8 70,248 Kajima Corp. (b).............. 17,000 58,136 Keihin Electric Express Railway Co., Ltd. (b)....... 13,000 114,010 Konami Corp. ................. 1,700 42,758 Kuraray Co., Ltd. ............ 7,500 57,088 Kurita Water Industries, Ltd. (b)......................... 1,300 34,131 Marui Group Co., Ltd. (b)..... 7,300 41,473 Mediceo Paltac Holdings Co., Ltd. (b).................... 3,100 36,660 Minebea Co., Ltd. (b)......... 8,000 26,917 Mitsubishi Gas Chemical Co., Inc. ....................... 8,000 31,947 Mitsui Chemicals, Inc. (b).... 6,000 21,710 Mitsui Engineering & Shipbuilding Co., Ltd. (b).. 15,000 24,490 Namco Bandai Holdings, Inc. (b)......................... 3,800 40,871 NGK Insulators, Ltd. ......... 1,000 10,954 NGK Spark Plug Co., Ltd. (b).. 4,000 31,638 Nippon Sheet Glass Co., Ltd. ....................... 13,000 41,732 Nisshin Steel Co., Ltd. (b)... 15,000 30,116 Nitto Denko Corp. ............ 1,400 26,347 NTN Corp. (b)................. 10,000 29,454 Obayashi Corp. (b)............ 15,000 87,700 Promise Co., Ltd. (b)......... 1,250 31,026 Sanyo Electric Co., Ltd. (a)(b)...................... 25,000 45,780 SBI Holdings, Inc. (b)........ 140 20,927 Shimano, Inc. (b)............. 1,500 58,081 Shimizu Corp. (b)............. 10,000 57,364 Showa Denko K.K. (a).......... 21,000 29,421 Showa Shell Sekiyu K.K........ 7,600 73,443 Sojitz Corp. ................. 9,200 14,919 Stanley Electric Co., Ltd. ... 2,900 29,848 Suzuken Co., Ltd. (b)......... 700 20,618 Taisei Corp. (b).............. 21,000 56,525 Takashimaya Co., Ltd. (b)..... 6,000 44,611 The Bank of Kyoto, Ltd. (b)... 6,000 65,924 The Furukawa Electric Co., Ltd. (b).................... 15,000 70,987 The Gunma Bank, Ltd. (b)...... 10,000 62,438 The Hachijuni Bank, Ltd. (b).. 13,000 73,282 The Joyo Bank, Ltd. (b)....... 13,000 72,708 THK Co., Ltd. (b)............. 2,700 27,700 Tobu Railway Co., Ltd. (b).... 21,000 123,938 Trend Micro, Inc. (a)(b)...... 1,000 34,087 Ube Industries, Ltd. ......... 17,000 46,321 Yamaguchi Financial Group, Inc. ....................... 1,000 11,031 Yamaha Corp. (b).............. 3,100 28,076 Yaskawa Electric Corp. (b).... 4,000 15,709 Yokogawa Electric Corp. ...... 5,700 36,596 ----------- TOTAL JAPAN................... 2,645,026 ----------- LUXEMBOURG -- 0.4% Acergy SA (b)................. 1,397 7,781 Oriflame Cosmetics SA (b)..... 705 20,103 ----------- TOTAL LUXEMBOURG.............. 27,884 ----------- NETHERLANDS -- 2.9% Boskalis Westminster NV....... 894 20,629 Chicago Bridge & Iron Co. NV.. 1,209 12,151 Core Laboratories NV.......... 403 24,124 Gemalto NV (a)(b)............. 1,598 39,761 Koninklijke BAM Groep NV (b).. 2,072 18,462 Qiagen NV (a)(b).............. 1,185 20,376 Randstad Holding NV (b)....... 783 15,836 SBM Offshore NV (b)........... 1,413 18,363 TomTom NV (a)(b).............. 399 2,884 Wereldhave NV................. 716 62,702 ----------- TOTAL NETHERLANDS............. 235,288 ----------- NORWAY -- 0.9% Frontline, Ltd. (b)........... 806 23,022 Marine Harvest (a)(b)......... 18,735 2,809 Petroleum Geo-Services ASA (a)(b)...................... 2,074 8,190 ProSafe SE (a)(b)............. 4,537 16,847 Storebrand ASA................ 6,452 15,434 Subsea 7, Inc. (a)(b)......... 1,463 8,462 ----------- TOTAL NORWAY.................. 74,764 ----------- PORTUGAL -- 0.5% Zon Multimedia Servicos de Telecomunicacoes e Multimedia SGPS SA.......... 6,920 35,687 ----------- SINGAPORE -- 2.6% CapitaMall Trust (b).......... 29,000 32,004 Fraser and Neave, Ltd. ....... 27,000 55,284 Singapore Press Holdings, Ltd. (b)......................... 42,000 90,661 Venture Corp., Ltd. .......... 10,000 30,401 ----------- TOTAL SINGAPORE............... 208,350 ----------- SOUTH KOREA -- 2.3% Cheil Industries, Inc. (a).... 520 16,596 CJ CheilJedang Corp. (a)...... 58 8,243 Daewoo Engineering & Construction Co., Ltd. (a).. 640 4,512 Doosan Corp. (a).............. 96 7,355 GS Holdings Corp. (a)......... 230 4,912
SPDR S&P INTERNATIONAL MID CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- Hanjin Heavy Industries & Construction Co., Ltd. (a).. 101 $ 2,293 Hanjin Shipping Co., Ltd. (a)......................... 500 7,185 Hanwha Corp. (a).............. 310 4,738 Hyundai Development Co. (a)... 270 6,956 Hyundai Mipo Dockyard Co., Ltd. (a).................... 46 4,930 Hyundai Securities Co., Ltd. ....................... 1,000 7,693 KCC Corp. .................... 43 9,815 Kia Motors Corp. (a).......... 716 3,723 Korea Express Co., Ltd. (a)... 110 7,773 Korea Investment Holdings Co., Ltd. ....................... 327 6,192 Korea Line Corp. (a).......... 29 1,520 Korea Zinc Co., Ltd. (a)...... 52 3,018 Mirae Asset Securities Co., Ltd. ....................... 144 8,357 Samsung Electro-Mechanics Co., Ltd. (a).................... 539 14,250 Samsung Engineering Co., Ltd. (a)......................... 202 6,976 Samsung SDI Co., Ltd. (a)..... 289 12,620 Samsung Securities Co., Ltd. ....................... 205 10,091 Samsung Techwin Co., Ltd. (a)......................... 346 7,829 STX Corp Co., Ltd. (a)........ 90 1,172 STX Shipbuilding Co., Ltd. (a)......................... 260 2,570 Woori Investment & Securities Co., Ltd. .................. 900 8,968 ----------- TOTAL SOUTH KOREA............. 180,287 ----------- SPAIN -- 3.3% Banco Santander SA............ 609 5,429 Bolsas y Mercados Espanoles... 1,088 27,813 Ebro Puleva SA (b)............ 5,079 69,189 Indra Sistemas SA............. 3,756 84,528 SOS Cuetara SA................ 5,066 80,067 ----------- TOTAL SPAIN................... 267,026 ----------- SWEDEN -- 1.6% Electrolux AB (b)............. 2,247 18,967 Getinge AB (a)................ 170 1,961 Getinge AB (Class B) (b)...... 3,225 38,131 Husqvarna AB (Class B) (b).... 2,376 12,409 Kinnevik Investment AB (Class B) (b)...................... 1,587 12,643 Lundin Petroleum AB (a)(b).... 3,475 18,017 Meda AB (Class A)............. 1,421 9,434 Modern Times Group AB (Class B).......................... 804 17,131 ----------- TOTAL SWEDEN.................. 128,693 ----------- SWITZERLAND -- 5.3% Aryzta AG (a)................. 693 22,268 Baloise Holding AG............ 494 36,434 Banque Cantonale Vaudoise..... 31 9,255 Basellandschaftliche Kantonalbank................ 103 94,353 Clariant AG (a)(b)............ 2,227 14,918 EFG International AG (b)...... 585 10,278 Nobel Biocare Holding AG (b).. 1,092 21,976 OC Oerlikon Corp AG (a)(b).... 47 3,047 Panalpina Welttransport Holding AG.................. 141 7,816 Petroplus Holdings AG (a)(b).. 750 14,770 PSP Swiss Property AG (a)..... 1,856 91,898 Sika AG (b)................... 44 37,206 Sonova Holding AG (b)......... 388 23,148 Straumann Holding AG (b)...... 62 10,806 Sulzer AG..................... 424 23,902 ----------- TOTAL SWITZERLAND............. 422,075 ----------- UNITED KINGDOM -- 13.8% Admiral Group PLC............. 2,811 36,778 Aggreko PLC................... 4,690 30,057 Autonomy Corp. PLC (a)........ 2,389 32,665 Babcock International Group PLC (b)..................... 4,449 30,336 Balfour Beatty PLC............ 7,214 34,150 Bunzl PLC..................... 2,885 24,473 Charter International PLC..... 2,332 11,064 Cobham PLC.................... 19,325 57,097 Cookson Group PLC............. 3,701 6,745 Dana Petroleum PLC (a)........ 673 9,599 De La Rue PLC................. 1,881 24,502 Drax Group PLC................ 5,706 46,023 easyJet PLC (a)............... 1,483 5,975 FirstGroup PLC................ 4,738 29,564 Friends Provident PLC......... 14,976 18,539 GKN PLC....................... 3,977 5,546 Hays PLC...................... 24,076 24,144 Home Retail Group PLC......... 5,462 16,609 Inchcape PLC.................. 8,438 4,458 Informa PLC................... 7,699 27,258 Inmarsat PLC (b).............. 7,193 48,761 Intercontinental Hotels Group PLC......................... 1,584 12,799 Intermediate Capital Group PLC (b)......................... 1,919 17,630 Intertek Group PLC............ 2,990 33,703 Invensys PLC (a).............. 6,126 15,281 Investec PLC.................. 7,472 30,617 ITV PLC....................... 23,361 13,351 Logica PLC.................... 23,119 22,935 London Stock Exchange Group PLC (b)..................... 1,590 11,659 Next PLC (b).................. 1,029 15,993 Pennon Group PLC (b).......... 6,177 44,205 Petrofac, Ltd. ............... 1,552 7,721 Randgold Resources, Ltd. ..... 554 23,481 Rentokil Initial PLC.......... 11,152 7,055 Rexam PLC..................... 5,304 26,767 Serco Group PLC............... 8,063 52,225 Signet Jewelers, Ltd. ........ 1,100 9,537 SOCO International PLC (a).... 392 6,171 Tate & Lyle PLC............... 3,343 19,262 Thomas Cook Group PLC (b)..... 2,862 7,287 Thomson Reuters PLC........... 1,224 26,573 Tomkins PLC................... 17,656 31,223 Tui Travel PLC................ 14,749 49,515 United Business Media PLC..... 4,371 31,956 Venture Production PLC (b).... 1,068 6,538 Virgin Media, Inc. ........... 1,845 9,207 William Hill PLC.............. 7,375 22,797 Wolseley PLC.................. 4,684 25,860 ----------- TOTAL UNITED KINGDOM.......... 1,105,691 ----------- UNITED STATES -- 0.1% WABCO Holdings, Inc. ......... 334 5,274 ----------- TOTAL COMMON STOCKS -- (Cost $10,273,009)................ 7,891,338 ----------- PREFERRED STOCKS -- 0.1% ITALY -- 0.1% Istituto Finanziario Industriale SpA (a)......... 1,211 8,147 ----------- SOUTH KOREA -- 0.0% (e) Daewoo Securities Co., Ltd. .. 790 2,892 ----------- TOTAL PREFERRED STOCKS -- (Cost $14,417).............. 11,039 -----------
SPDR S&P INTERNATIONAL MID CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- RIGHTS -- 0.0% (e) GERMANY -- 0.0% (e) Premiere AG (expiring 1/12/09) (a)(c) (Cost $--).................. 647 $ -- ----------- SHORT TERM INVESTMENTS -- 19.3% UNITED STATES -- 19.3% MONEY MARKET FUNDS -- 19.3% State Street Navigator Securities Lending Prime Portfolio (f)(g)............ 1,316,133 1,316,133 STIC Prime Portfolio.......... 227,170 227,170 ----------- TOTAL SHORT TERM INVESTMENTS -- (Cost $1,543,303)................. 1,543,303 ----------- TOTAL INVESTMENTS -- 117.9% (Cost $11,830,729).......... 9,445,680 OTHER ASSETS AND LIABILITIES -- (17.9)%...... (1,434,118) ----------- NET ASSETS -- 100.0%.......... $ 8,011,562 ===========
(a) Non-income producing security. (b) Security, or portion thereof, was on loan at Decembert 31, 2008. (c) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees (d) Reflects seperate holdings of the issuer's common stock traded on different securities exchanges. (e) Amount shown represents less than 0.05% of net assets. (f) Affiliated Fund managed by SSgA Funds Management, Inc. (g) Investments of cash collateral for securities loaned. REIT = Real Estate Investment Trust SPDR S&P INTERNATIONAL MID CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Commercial Banks...................... 7.3% Construction & Engineering............ 5.4 Real Estate Investment Trusts (REITs)............................. 4.4 Oil, Gas & Consumable Fuels........... 4.4 Chemicals............................. 4.3 Road & Rail........................... 3.9 Media................................. 3.7 Insurance............................. 3.7 Machinery............................. 3.6 Food Products......................... 3.5 Multiline Retail...................... 2.8 Real Estate Management & Development.. 2.4 Health Care Providers & Services...... 2.4 Food & Staples Retailing.............. 2.3 Metals & Mining....................... 2.3 Electronic Equipment, Instruments & Components.......................... 2.3 Industrial Conglomerates.............. 1.9 Health Care Equipment & Supplies...... 1.9 Diversified Financial Services........ 1.9 IT Services........................... 1.9 Commercial Services & Supplies........ 1.8 Hotels, Restaurants & Leisure......... 1.8 Electrical Equipment.................. 1.7 Energy Equipment & Services........... 1.7 Leisure Equipment & Products.......... 1.6 Software.............................. 1.6 Capital Markets....................... 1.5 Trading Companies & Distributors...... 1.5 Aerospace & Defense................... 1.4 Diversified Telecommunication Services............................ 1.4 Household Durables.................... 1.3 Auto Components....................... 1.2 Pharmaceuticals....................... 0.9 Professional Services................. 0.9 Electric Utilities.................... 0.9 Office Electronics.................... 0.9 Building Products..................... 0.8 Beverages............................. 0.8 Diversified Consumer Services......... 0.8 Consumer Finance...................... 0.8 Personal Products..................... 0.8 Construction Materials................ 0.7 Containers & Packaging................ 0.6 Automobiles........................... 0.6 Independent Power Producers & Energy Traders............................. 0.5 Water Utilities....................... 0.5 Computers & Peripherals............... 0.5 Textiles, Apparel & Luxury Goods...... 0.4 Marine................................ 0.4 Air Freight & Logistics............... 0.4 Semiconductors & Semiconductor Equipment........................... 0.3 Transportation Infrastructure......... 0.3 Internet Software & Services.......... 0.2 Internet & Catalog Retail............. 0.2 Paper & Forest Products............... 0.2 Biotechnology......................... 0.1 Specialty Retail...................... 0.1 Airlines.............................. 0.1 Distributors.......................... 0.1 Household Products.................... 0.0** Communications Equipment.............. 0.0** Short Term Investments................ 19.3 Other Assets and Liabilities.......... (17.9) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. ** Amount shown represents less than 0.05% of net assets SPDR S&P EMERGING MARKETS SMALL CAP ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ---------- COMMON STOCKS -- 95.1% ARGENTINA -- 0.8% Banco Macro SA ADR............ 3,523 $ 38,119 MercadoLibre, Inc. (a)........ 1,191 19,544 ---------- TOTAL ARGENTINA............... 57,663 ---------- BRAZIL -- 4.6% B2W Companhia Global Do Varejo...................... 1,896 19,350 BR Malls Participacoes SA (a)......................... 6,128 23,913 Cyrela Brazil Realty SA....... 5,000 19,726 Diagnosticos da America SA.... 3,330 32,101 Eternit SA.................... 13,811 30,263 Lojas Renner SA............... 3,100 20,831 Lupatech SA (a)............... 2,291 22,998 NET Servicos de Comunicacao SA Preference Shares (a)....... 4,241 24,169 PDG Realty SA Empreendimentos e Participacoes............. 4,601 21,999 Sao Martinho SA (a)........... 3,947 15,504 Suzano Papel e Celulose SA (a)......................... 6,400 33,180 Terna Participacoes SA........ 3,605 33,994 Totvs SA...................... 2,120 33,627 ---------- TOTAL BRAZIL.................. 331,655 ---------- CHILE -- 2.7% Almendral SA.................. 483,345 35,649 Companiha SudAmericana de Vapores SA.................. 33,723 21,962 La Polar SA................... 16,991 28,796 Masisa SA..................... 583,532 44,402 Vina Concha Y Toro SA......... 41,363 62,637 ---------- TOTAL CHILE................... 193,446 ---------- CHINA -- 12.8% Anhui Expressway Co., Ltd. ... 98,000 35,406 Brilliance China Automotive Holdings, Ltd. (a).......... 282,000 14,736 Chaoda Modern Agriculture Holdings, Ltd. ............. 81,120 51,811 China Everbright, Ltd. ....... 28,000 34,394 China Green Holdings, Ltd. ... 45,000 35,825 China Hongxing Sports, Ltd. (b)......................... 113,000 14,510 China Huiyuan Juice Group, Ltd. ....................... 56,400 70,516 China Medical Technologies, Inc. ADR.................... 1,063 21,536 China Mengniu Dairy Co., Ltd. ....................... 36,000 46,822 China Power International Development, Ltd. .......... 248,000 51,199 China Yurun Food Group, Ltd. ....................... 24,000 28,211 CNPC Hong Kong, Ltd. ......... 80,000 24,877 Great Wall Motor Co., Ltd. ... 40,000 13,935 Home Inns & Hotels Management, Inc. ADR (a)................ 2,808 24,093 Huangshan Tourism Development Co., Ltd. .................. 29,900 25,236 Inner Mongolia Eerduosi Cashmere Products Co., Ltd. ....................... 59,900 33,065 Inner Mongolia Yitai Coal Co., Ltd. ....................... 12,000 29,544 Kingboard Chemical Holdings, Ltd. ....................... 24,000 43,044 Li Ning Co., Ltd. ............ 30,500 47,618 New Oriental Education & Technology Group, Inc. ADR (a)......................... 500 27,455 Ports Design, Ltd. ........... 27,500 33,354 Shenzhen International Holdings, Ltd. ............. 700,000 30,257 Shimao Property Holdings, Ltd. ....................... 64,000 44,427 SINA Corp. (a)................ 1,100 25,465 Sohu.com, Inc. (a)............ 910 43,079 TPV Technology, Ltd. ......... 116,000 37,418 Zhuzhou CSR Times Electric Co., Ltd. .................. 55,000 44,354 ---------- TOTAL CHINA................... 932,187 ---------- CZECH REPUBLIC -- 0.6% Philip Morris CR AS........... 138 43,060 ---------- EGYPT -- 2.2% Eastern Tobacco............... 947 30,929 Egyptian Financial Group- Hermes Holding.............. 4,276 13,352 Egyptian for Tourism Resorts.. 43,420 13,945 Egyptian Kuwait Holding Co. .. 23,522 30,814 Misr Beni Suef Cement Co. .... 3,012 27,326 Olympic Group Financial Investments................. 3,299 14,366 Six of October Development & Investment Co. (a).......... 950 7,128 Suez Cement Co. .............. 6,067 23,338 ---------- TOTAL EGYPT................... 161,198 ---------- INDIA -- 7.9% Amtek Auto, Ltd. ............. 7,096 9,693 Anant Raj Industries, Ltd. ... 19,200 34,089 Ashok Leyland, Ltd. .......... 61,766 19,017 Bharat Forge, Ltd. ........... 10,887 18,804 CESC, Ltd. ................... 4,506 22,012 Divi's Laboratories, Ltd. .... 1,858 50,721 GTL, Ltd. .................... 7,359 31,267 India Cements, Ltd. .......... 9,556 19,183 Infrastructure Development Finance Co., Ltd. .......... 31,968 43,864 IVRCL Infrastructures & Projects, Ltd. ............. 12,061 35,376 Jaiprakash Associates, Ltd. .. 25,662 43,560 Lanco Infratech, Ltd. (a)..... 12,295 39,368 Moser Baer India, Ltd. ....... 13,801 20,310 Mphasis, Ltd. ................ 12,009 38,329 Nagarjuna Construction Co., Ltd. ....................... 11,764 17,385 Patni Computer Systems, Ltd. ....................... 8,291 22,123 Sintex Industries, Ltd. ...... 4,408 16,942 United Phosphorus, Ltd. ...... 15,508 34,377 United Spirits, Ltd. ......... 1,467 26,528 Yes Bank, Ltd. (a)............ 20,589 31,906 ---------- TOTAL INDIA................... 574,854 ---------- INDONESIA -- 1.6% Bank Panin Indonesia Tbk PT (a)......................... 843,500 44,883 Energi Mega Persada Tbk PT (a)(b)...................... 391,000 3,013 Indofood Sukses Makmur Tbk PT.......................... 247,500 21,117 Lippo Karawaci Tbk PT (a)..... 606,500 44,514 ---------- TOTAL INDONESIA............... 113,527 ---------- ISRAEL -- 3.5% Clal Industries, Ltd. ........ 18,567 40,064 Elbit Imaging, Ltd. .......... 1,188 10,222 First International Bank of Israel, Ltd. (a)............ 5,721 40,245 IDB Development Corp., Ltd. .. -- 2 Koor Industries, Ltd. (a)..... 928 9,828 NICE Systems, Ltd. (a)........ 3,279 72,056 Orbotech, Ltd. (a)............ 5,592 22,480 Osem Investments, Ltd. ....... 4,973 59,974 ---------- TOTAL ISRAEL.................. 254,871 ----------
SPDR S&P EMERGING MARKETS SMALL CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ---------- MALAYSIA -- 5.4% Alliance Financial Group Bhd.. 100,800 $ 53,022 Bursa Malaysia Bhd............ 18,000 26,792 Gamuda Bhd.................... 101,400 55,389 IGB Corp. Bhd................. 133,600 53,286 KNM Group Bhd................. 162,650 19,038 Kulim Malaysia Bhd............ 22,100 29,254 Malaysian Bulk Carriers Bhd... 33,700 23,278 Media Prima Bhd............... 82,300 26,403 Sarawake Energy Bhd........... 79,800 53,507 SP Setia Bhd.................. 56,700 50,801 ---------- TOTAL MALAYSIA................ 390,770 ---------- MEXICO -- 3.0% Consorcio ARA, SAB de CV (c).. 62,577 23,723 Grupo Aeroportuario del Sureste SAB de CV........... 16,104 60,050 Industrias CH SAB, (a)........ 13,708 34,546 Mexichem SAB de CV............ 31,800 28,612 Promotora y Operadora de Infraestructura, SAB de CV (a)......................... 16,598 22,053 TV Azteca SAB de CV........... 126,354 50,182 ---------- TOTAL MEXICO.................. 219,166 ---------- MOROCCO -- 1.7% Banque Centrale Populaire..... 236 70,032 Societe Anonyme Marocaine de 1'Industrie du Raffinage.... 742 53,120 ---------- TOTAL MOROCCO................. 123,152 ---------- PAKISTAN -- 0.1% EFU General Insurance, Ltd. .. 4,600 7,733 ---------- PERU -- 0.2% Sociedad Minera El Brocal SA.. 3,824 17,174 ---------- PHILIPPINES -- 0.9% Ayala Land, Inc. ............. 352,000 47,378 Megaworld Corp. .............. 1,232,000 17,100 ---------- TOTAL PHILIPPINES............. 64,478 ---------- POLAND -- 2.8% Agora SA...................... 3,473 18,988 Asseco Poland SA.............. 1,873 29,963 Ciech SA...................... 1,280 10,161 Echo Investment SA (a)........ 20,583 14,935 Emperia Holding SA............ 712 12,363 Grupa Lotos SA (a)............ 4,191 16,903 LPP SA (a).................... 49 18,853 Orbis SA...................... 2,686 29,507 PBG SA (a).................... 494 32,678 Polimex Mostostal SA.......... 20,580 21,184 ---------- TOTAL POLAND.................. 205,535 ---------- RUSSIA -- 1.1% Pharmstandard GDR (a)(d)...... 2,215 23,479 Pharmstandard GDR (a)(d)...... 947 10,038 Polymetal GDR (a)............. 10,919 49,136 ---------- TOTAL RUSSIA.................. 82,653 ---------- SOUTH AFRICA -- 11.2% Afgri, Ltd. .................. 84,510 54,847 African Bank Investments, Ltd. ....................... 10,554 29,339 Aspen Pharmacare Holdings, Ltd. (a).................... 21,288 77,369 Coronation Fund Managers, Ltd. ....................... 73,253 36,607 DataTec, Ltd. ................ 15,495 27,487 Foschini, Ltd. ............... 14,994 77,849 Gold Reef Resorts, Ltd. ...... 22,006 42,846 Grindrod, Ltd. ............... 23,792 39,375 Hosken Consolidated Investments, Ltd. .......... 6,044 26,150 JD Group, Ltd. ............... 12,568 49,823 JSE, Ltd. .................... 7,007 27,740 Lewis Group, Ltd. ............ 13,091 67,968 Massmart Holdings, Ltd. ...... 3,737 34,181 Merafe Resources, Ltd. (a).... 110,438 10,154 Metorex, Ltd. ................ 24,882 5,813 Mvelaphanda Resources, Ltd. (a)......................... 8,079 20,099 Northam Platinum, Ltd. ....... 7,682 17,117 Reunert, Ltd. ................ 11,263 61,767 SA Corporate Real Estate Fund........................ 215,552 60,620 Sappi, Ltd. .................. 4,056 16,496 Sentula Mining, Ltd. ......... 7,478 4,602 Steinhoff International Holdings, Ltd. ............. 22,601 30,681 ---------- TOTAL SOUTH AFRICA............ 818,930 ---------- TAIWAN -- 26.0% Asia Optical Co., Inc. ....... 19,090 22,424 BES Engineering Corp. ........ 128,000 25,079 Capital Securities Corp. ..... 107,100 25,912 Cathay Real Estate Development Co., Ltd. .................. 64,000 14,139 Chicony Electronics Co., Ltd. ....................... 22,630 21,825 China Bills Finance Corp. (a)......................... 594,000 87,241 China Life Insurance Co., Ltd. (a)......................... 73,540 26,778 China Petrochemical Development Corp. (a)....... 119,780 22,702 Clevo Co. .................... 29,450 22,838 CMC Magnetics Corp. (a)....... 166,000 26,151 Coretronic Corp. ............. 66,420 34,609 D-Link Corp. ................. 43,320 30,294 E.Sun Financial Holding Co., Ltd. ....................... 299,400 79,644 Everlight Electronics Co., Ltd. ....................... 18,119 23,851 Far Eastern Department Stores, Ltd. ....................... 39,650 22,472 Far Eastern International Bank (a)......................... 181,000 31,437 Faraday Technology Corp. ..... 15,069 11,961 Feng Hsin Iron & Steel Co., Ltd. ....................... 27,270 26,507 Formosa Taffeta Co., Ltd. .... 89,000 46,103 Giant Manufacturing Co., Ltd. ....................... 23,550 52,313 Global Unichip Corp. ......... 5,109 18,058 Goldsun Development & Construction Co., Ltd. ..... 89,350 25,347 Greatek Electronics, Inc. .... 55,020 31,519 HannStar Display Corp. ....... 246,474 32,144 Himax Technologies, Inc. ADR.. 14,337 22,939 Hotai Motor Co., Ltd. ........ 24,000 36,931 Inventec Co., Ltd. ........... 166,550 46,943 KGI Securities Co., Ltd. ..... 122,000 39,405 King Yuan Electronics Co., Ltd. ....................... 76,546 16,794 Kinsus Interconnect Technology Corp. ...................... 18,030 16,921 Largan Precision Co., Ltd. ... 3,020 18,727 Macronix International Co., Ltd. ....................... 105,429 27,788 Makalot Industrial Co., Ltd. ....................... 55,000 40,054 Mitac International Corp. .... 64,999 23,272 Nan Kang Rubber Tire Co., Ltd. ....................... 39,000 16,400 Polaris Securities Co., Ltd. ....................... 156,920 55,227 President Securities Corp. ... 89,924 30,689 Qisda Corp. .................. 89,080 17,643 RichTek Technology Corp. ..... 3,100 12,374 Ritek Corp. (a)............... 221,000 29,159 Ruentex Development Co., Ltd. ....................... 33,000 17,497 Silicon Motion Technology Corp. ADR (a)............... 3,312 7,584
SPDR S&P EMERGING MARKETS SMALL CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ---------- Simplo Technology Co., Ltd. .. 9,300 $ 22,500 Sino-American Silicon Products, Inc. ............. 75 154 Solar Applied Materials Technology Corp. ........... 9,788 12,377 Taichung Commercial Bank...... 118,848 24,408 Taiwan Business Bank (a)...... 163,000 34,867 Taiwan Glass Industrial Corp. ...................... 95,240 54,269 Teco Electric & Machinery Co., Ltd. ....................... 234,000 72,015 Tripod Technology Corp. ...... 29,540 28,939 TSRC Corp. ................... 36,000 26,875 Tung Ho Steel Enterprise Corp. ...................... 39,000 25,193 Unimicron Technology Corp. ... 39,130 16,216 Universal Cement Corp. (a).... 47,800 18,571 Via Technologies, Inc. (a).... 70,000 16,915 Wafer Works Corp. ............ 6,060 8,162 Walsin Lihwa Corp. ........... 204,000 39,534 Wan Hai Lines, Ltd. .......... 92,400 39,840 Winbond Electronics Corp. (a)......................... 365,000 34,367 Wintek Corp. ................. 64,000 12,520 WPG Holdings Co., Ltd. ....... 32,304 15,405 Yageo Corp. .................. 198,000 24,978 Yang Ming Marine Transport.... 100,899 31,052 Yosun Industrial Corp. ....... 55,680 21,547 Yuen Foong Yu Paper Manufacturing Co., Ltd. .... 172,080 37,229 Yulon Motor Co., Ltd. ........ 87,462 37,577 ---------- TOTAL TAIWAN.................. 1,893,205 ---------- THAILAND -- 3.9% BEC World PCL................. 93,800 53,400 Cal-Comp Electronics Thailand PCL......................... 521,900 25,060 Central Pattana PCL........... 77,600 31,906 Charoen Pokphand Foods PCL.... 444,900 40,678 Glow Energy PCL............... 28,200 18,243 Hana Microelectronics PCL..... 132,300 38,039 Minor International PCL....... 125,900 28,597 Thanachart Capital PCL........ 165,300 33,507 Thoresen Thai Agencies PCL.... 35,700 17,244 ---------- TOTAL THAILAND................ 286,674 ---------- TURKEY -- 2.1% Albaraka Turk Katilim Bankasi..................... 15,318 20,841 BIM Birlesik Magazalar AS..... 1,298 27,121 Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (a).... 39,030 12,643 Petkim Petrokimya Holding AS (a)......................... 10,414 31,171 Sekerbank TAS................. 13,454 9,501 Turk Hava Yollari Anonim Ortakligi (a)............... 13,427 49,585 ---------- TOTAL TURKEY.................. 150,862 ---------- TOTAL COMMON STOCKS -- (Cost $10,494,414).......... 6,922,793 ---------- PREFERRED STOCKS -- 3.6% BRAZIL -- 3.6% Banco do Estado do Rio Grande do Sul SA................... 9,097 21,845 Braskem SA.................... 5,000 11,900 Centrais Eletricas de Santa Catarina SA................. 2,606 39,000 Companiha de Tecidos Norte de Minas (a)................... 11,687 18,793 Confab Industrial SA.......... 20,110 32,338 Marcopolo SA.................. 18,967 25,783 Randon SA Implementos e Participacoes............... 8,484 22,811 Tam SA........................ 1,552 12,705 Telemig Celular Participacoes SA.......................... 2,456 35,808 Ultrapar Participacoes SA..... 2,000 43,585 ---------- TOTAL PREFERRED STOCKS -- (Cost $475,291)............. 264,568 ---------- RIGHTS -- 0.0% (e) SOUTH AFRICA -- 0.0% (e) Metorex, Ltd. (expiring 01/23/09) (a) (Cost $0)................... 8,693 216 ---------- SHORT TERM INVESTMENTS -- 1.4% UNITED STATES -- 1.4% MONEY MARKET FUNDS -- 1.4% State Street Navigator Securities Lending Prime Portfolio (f)(g)............ 22,555 22,555 STIC Prime Portfolio.......... 79,044 79,044 ---------- TOTAL SHORT TERM INVESTMENTS -- (Cost $101,599)............. 101,599 ---------- TOTAL INVESTMENTS -- 100.1% (Cost $11,071,304).......... 7,289,176 OTHER ASSETS AND LIABILITIES -- (0.1)%....... (7,152) ---------- NET ASSETS -- 100.0%.......... $7,282,024 ==========
(a) Non-income producing security. (b) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (c) Security, or portion thereof, was on loan at December 31, 2008. (d) Reflects separate holdings of the issuer's common stock traded on different securities exchanges. (e) Amount shown represents less than 0.05% of net assets. (f) Affiliated Fund managed by SSgA Funds Management, Inc. (g) Investments of cash collateral for securities loaned. ADR = American Depositary Receipt GDR = Global Depositary Receipt SPDR S&P EMERGING MARKETS SMALL CAP ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Commercial Banks...................... 6.9% Food Products......................... 6.2 Real Estate Management & Development.. 6.0 Electronic Equipment & Instruments.... 4.9 Capital Markets....................... 4.4 Computers & Peripherals............... 4.0 Specialty Retail...................... 3.8 Metals & Mining....................... 3.5 Construction & Engineering............ 3.4 Semiconductors & Semiconductor Equipment........................... 3.1 Industrial Conglomerates.............. 2.9 Textiles, Apparel & Luxury Goods...... 2.8 Chemicals............................. 2.8 Construction Materials................ 2.4 Media................................. 2.4 Marine................................ 2.3 Hotels, Restaurants & Leisure......... 2.3 Diversified Financial Services........ 2.2 Electrical Equipment.................. 2.1 Electric Utilities.................... 2.0 Paper & Forest Products............... 1.8 Oil, Gas & Consumable Fuels........... 1.8 Leisure Equipment & Products.......... 1.7 Pharmaceuticals....................... 1.5 Household Durables.................... 1.5 Communications Equipment.............. 1.4 Transportation Infrastructure......... 1.3 IT Services........................... 1.3 Machinery............................. 1.2 Beverages............................. 1.2 Internet Software & Services.......... 1.2 Tobacco............................... 1.0 Food & Staples Retailing.............. 1.0 Multiline Retail...................... 1.0 Building Products..................... 1.0 Independent Power Producers & Energy Traders............................. 1.0 Automobiles........................... 0.9 Software.............................. 0.9 Airlines.............................. 0.9 Auto Components....................... 0.6 Wireless Telecommunication Services... 0.5 Diversified Telecommunication Services............................ 0.5 Insurance............................. 0.5 Consumer Finance...................... 0.5 Health Care Providers & Services...... 0.4 Air Freight & Logistics............... 0.4 Diversified Consumer Services......... 0.4 Health Care Equipment & Supplies...... 0.3 Internet & Catalog Retail............. 0.3 Energy Equipment & Services........... 0.3 Short Term Investments................ 1.4 Other Assets & Liabilities............ (0.1) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR DJ WILSHIRE GLOBAL REAL ESTATE ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- COMMON STOCKS -- 99.2% AUSTRALIA -- 8.7% Abacus Property Group......... 54,373 $ 8,150 Babcock & Brown Japan Property Trust....................... 45,486 10,782 Bunnings Warehouse Property Trust....................... 20,724 23,841 Centro Retail Group........... 145,749 6,808 CFS Retail Property Trust (a)......................... 117,127 152,706 Commonwealth Property Office Fund........................ 139,298 114,600 Dexus Property Group (a)...... 296,050 169,253 Goodman Group................. 219,730 113,365 GPT Group..................... 376,738 241,649 ING Industrial Fund (a)....... 99,649 9,727 ING Office Fund............... 144,392 81,543 ING Real Estate Community Living Group................ 34,003 1,185 Macquarie CountryWide Trust (a)......................... 121,127 17,734 Macquarie DDR Trust........... 74,271 3,262 Macquarie Office Trust (a).... 175,064 29,293 Tishman Speyer Office Fund (a)......................... 27,974 3,413 Valad Property Group.......... 141,265 5,220 Westfield Group (a)........... 157,165 1,419,002 ----------- TOTAL AUSTRALIA............... 2,411,533 ----------- AUSTRIA -- 0.5% Atrium European Real Estate, Ltd. (a)(b)................. 18,729 67,169 CA Immobilien Anlagen AG (b).. 6,774 39,548 IMMOEAST AG (a)(b)............ 32,636 20,868 Immofinanz Immobilien Anlagen AG (a)...................... 36,208 24,662 ----------- TOTAL AUSTRIA................. 152,247 ----------- BELGIUM -- 0.7% Befimmo S.C.A. ............... 915 84,963 Cofinimmo REIT................ 850 111,679 ----------- TOTAL BELGIUM................. 196,642 ----------- CANADA -- 4.4% Artis REIT.................... 1,414 8,430 Boardwalk REIT................ 2,064 42,735 Brookfield Asset Management, Inc. (Class A) (a).......... 44,769 672,714 Brookfield Properties Corp. .. 17,553 135,685 Calloway REIT................. 3,367 30,956 Canadian Apartment Properties REIT (a).................... 2,773 35,356 Canadian REIT................. 2,514 45,963 Chartwell Seniors Housing REIT........................ 4,212 18,424 Extendicare REIT (b).......... 3,089 14,638 First Capital Realty, Inc. ... 2,904 44,624 H&R REIT...................... 6,181 37,301 Primaris Retail REIT.......... 2,669 23,134 RioCan REIT................... 9,236 102,198 ----------- TOTAL CANADA.................. 1,212,158 ----------- CHINA -- 5.7% Champion REIT................. 144,000 38,647 GZI REIT...................... 63,000 14,551 Hang Lung Group, Ltd. ........ 72,996 220,866 Hang Lung Properties, Ltd. ... 157,018 341,176 Hong Kong Land Holdings, Ltd. (a)......................... 106,000 262,880 Hysan Development Co., Ltd. .. 52,096 84,158 Kerry Properties, Ltd. ....... 53,135 141,575 Prosperity REIT............... 99,000 11,496 The Link REIT................. 184,763 305,149 Wheelock & Co., Ltd. ......... 72,016 157,967 ----------- TOTAL CHINA................... 1,578,465 ----------- FRANCE -- 5.6% Fonciere des Regions (a)...... 1,698 115,655 Gecina SA REIT................ 1,793 123,721 Klepierre..................... 7,068 171,935 Societe Immobiliere de Location pour l'Industrie et le Commerce (a)............. 914 84,539 Unibail-Rodamco (a)........... 7,069 1,046,497 ----------- TOTAL FRANCE.................. 1,542,347 ----------- GERMANY -- 0.2% IVG Immobilien AG (a)......... 6,908 54,926 ----------- ITALY -- 0.1% Beni Stabili SpA (a).......... 36,392 25,040 ----------- JAPAN -- 14.0% Aeon Mall Co., Ltd. (a)....... 6,800 128,349 Creed Office Investment Corp. ...................... 11 11,285 DA Office Investment Corp. ... 18 38,164 Daibiru Corp. (a)............. 5,000 52,399 Frontier Real Estate Investment Corp. ........... 12 65,527 Fukuoka REIT Corp. ........... 8 31,859 Global One REIT............... 9 74,164 Hankyu REIT, Inc. ............ 8 36,977 Heiwa Real Estate Co., Ltd. (a)......................... 12,500 31,715 Japan Excellent, Inc. ........ 12 50,965 Japan Hotel and Resort, Inc. ....................... 8 10,405 Japan Prime Realty Investment Corp. ...................... 51 118,259 Japan Real Estate Investment Corp. ...................... 38 333,679 Japan Retail Fund Investment Corp. ...................... 33 140,155 Kenedix Realty Investment Corp. ...................... 18 49,185 Mitsui Fudosan Co., Ltd. ..... 76,000 1,224,887 Mori Hills REIT Investment Corp. ...................... 10 33,061 Mori Trust Sogo REIT, Inc. (a)......................... 10 81,853 Nippon Building Fund, Inc. ... 46 496,283 Nippon Commercial Investment Corp. (a)................... 22 22,934 Nippon Residential Investment Corp. (a)................... 22 20,144 Nomura Real Estate Office Fund, Inc. ................. 25 159,404 NTT Urban Development Corp. .. 95 99,559 Orix JREIT, Inc. ............. 22 102,416 Premier Investment Co. ....... 11 34,110 Shoei Co., Ltd. .............. 3,200 32,441 TOC Co., Ltd. (a)............. 9,000 45,670 Tokyu Land Corp. ............. 40,000 147,821 Tokyu REIT, Inc. (a).......... 13 79,162 Top REIT, Inc. ............... 13 46,321 United Urban Investment Corp. ...................... 18 69,697 ----------- TOTAL JAPAN................... 3,868,850 ----------- NETHERLANDS -- 1.5% Corio NV (a).................. 5,802 265,260 Eurocommercial Properties NV (a)......................... 2,695 89,892 VastNed Retail NV............. 1,459 73,011 ----------- TOTAL NETHERLANDS............. 428,163 ----------- NEW ZEALAND -- 0.4% AMP NZ Office Trust (a)....... 45,879 26,812 Goodman Property Trust........ 57,659 32,011 ING Property Trust............ 46,653 17,994 Kiwi Income Property Trust (a)......................... 63,027 37,201 ----------- TOTAL NEW ZEALAND............. 114,018 ----------- SINGAPORE -- 2.7% Frasers Commercial Trust (a).. 55,000 8,971 Ascendas REIT (a)............. 84,000 79,875
SPDR DJ WILSHIRE GLOBAL REAL ESTATE ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- Cambridge Industrial Trust.... 61,000 $ 11,643 CapitaCommercial Trust........ 68,000 42,242 CapitaLand, Ltd. ............. 143,000 308,679 CapitaMall Trust (a).......... 91,000 100,427 Guocoland, Ltd. (a)........... 15,000 11,869 Macquarie Prime REIT.......... 58,000 20,933 Mapletree Logistics Trust..... 113,000 27,451 Singapore Land, Ltd. (a)...... 11,000 26,875 Suntec REIT (a)............... 124,000 61,107 United Industrial Corp., Ltd. ....................... 58,000 42,270 ----------- TOTAL SINGAPORE............... 742,342 ----------- SOUTH AFRICA -- 0.4% Capital Property Fund......... 25,500 16,412 Fountainhead Property Trust... 85,927 53,071 SA Corporate Real Estate Fund........................ 71,311 20,055 Sycom Property Fund........... 8,767 17,894 ----------- TOTAL SOUTH AFRICA............ 107,432 ----------- SPAIN -- 0.0%(c) Martinsa-Fadesa SA(b) (d)(e).. 178 -- ----------- SWEDEN -- 0.8% Castellum AB (a).............. 13,867 106,528 Fabege AB (a)................. 10,873 41,249 Kungsleden AB (a)............. 11,776 80,413 ----------- TOTAL SWEDEN.................. 228,190 ----------- SWITZERLAND -- 1.0% PSP Swiss Property AG......... 3,640 180,230 Swiss Prime Site AG (a)....... 1,994 95,171 ----------- TOTAL SWITZERLAND............. 275,401 ----------- UNITED KINGDOM -- 6.2% Big Yellow Group PLC.......... 7,327 25,151 British Land Co. PLC.......... 45,074 357,076 Brixton PLC................... 21,098 40,040 Capital & Regional PLC........ 5,909 3,993 Derwent London PLC (a)........ 8,136 84,807 Grainger PLC (a).............. 11,186 21,752 Great Portland Estates PLC (a)......................... 15,617 58,379 Hammerson PLC (a)............. 25,050 192,684 Land Securities Group PLC..... 40,637 538,102 Liberty International PLC (a)......................... 24,130 165,832 Minerva PLC (b)............... 14,227 2,761 Quintain Estates & Development PLC......................... 11,554 6,105 Segro PLC (a)................. 37,674 133,790 Shaftesbury PLC (a)........... 11,678 60,696 Workspace Group PLC........... 15,389 13,663 ----------- TOTAL UNITED KINGDOM.......... 1,704,831 ----------- UNITED STATES -- 46.3% Acadia Realty Trust........... 2,567 36,631 Alexander's, Inc. ............ 227 57,862 Alexandria Real Estate Equities, Inc. ............. 2,705 163,220 AMB Property Corp. ........... 8,415 197,079 American Campus Communities, Inc. ....................... 3,639 74,527 Apartment Investment & Management Co. (Class A).... 8,716 100,670 Ashford Hospitality Trust, Inc. ....................... 7,963 9,157 Associated Estates Realty Corp. ...................... 1,393 12,718 Avalonbay Communities, Inc. .. 6,583 398,798 BioMed Realty Trust, Inc. .... 6,967 81,653 Boston Properties, Inc. ...... 10,302 566,610 Brandywine Realty Trust....... 7,691 59,298 BRE Properties, Inc. ......... 4,400 123,112 Camden Property Trust......... 4,538 142,221 CBL & Associates Properties, Inc. ....................... 5,743 37,330 Cedar Shopping Centers, Inc. ....................... 3,905 27,647 Colonial Properties Trust..... 3,703 30,846 Corporate Office Properties Trust....................... 4,448 136,554 Cousins Properties, Inc. ..... 3,568 49,417 DCT Industrial Trust, Inc. ... 14,828 75,030 Developers Diversified Realty Corp. ...................... 10,313 50,327 DiamondRock Hospitality Co. .. 7,785 39,470 Digital Realty Trust, Inc. ... 5,859 192,468 Douglas Emmett, Inc. ......... 9,393 122,673 Duke Realty Corp. ............ 12,514 137,153 DuPont Fabros Technology, Inc. ....................... 3,129 6,477 EastGroup Properties, Inc. ... 2,188 77,849 Education Realty Trust, Inc. ....................... 2,412 12,591 Equity Lifestyle Properties, Inc. ....................... 1,996 76,567 Equity One, Inc. ............. 2,924 51,755 Equity Residential............ 23,428 698,623 Essex Property Trust, Inc. ... 2,270 174,222 Extra Space Storage, Inc. .... 7,234 74,655 Federal Realty Investment Trust....................... 5,072 314,870 FelCor Lodging Trust, Inc. ... 5,532 10,179 First Industrial Realty Trust, Inc. ....................... 3,805 28,728 First Potomac Realty Trust.... 2,384 22,171 Forest City Enterprises, Inc. (Class A)................... 6,064 40,629 Glimcher Realty Trust......... 3,326 9,346 HCP, Inc. .................... 21,767 604,470 Health Care REIT, Inc. ....... 8,880 374,736 Healthcare Realty Trust, Inc. ....................... 5,095 119,631 Hersha Hospitality Trust...... 4,178 12,534 Highwoods Properties, Inc. ... 5,514 150,863 Home Properties, Inc. ........ 2,817 114,370 Hospitality Properties Trust.. 8,083 120,194 Host Hotels & Resorts, Inc. .. 44,983 340,521 HRPT Properties Trust......... 19,400 65,378 Inland Real Estate Corp. ..... 5,154 66,899 Kilroy Realty Corp. .......... 2,891 96,733 Kimco Realty Corp. ........... 19,884 363,480 Kite Realty Group Trust....... 2,973 16,530 LaSalle Hotel Properties...... 3,546 39,183 Liberty Property Trust........ 8,461 193,165 Mack-Cali Realty Corp. ....... 5,696 139,552 Maguire Properties, Inc. (b).. 3,260 4,760 Mid-America Apartment Communities, Inc. .......... 2,432 90,373 Nationwide Health Properties, Inc. ....................... 8,617 247,480 Parkway Properties, Inc. ..... 1,350 24,300 Pennsylvania Real Estate Investment Trust............ 3,496 26,045 Post Properties, Inc. ........ 3,787 62,485 ProLogis...................... 22,927 318,456 PS Business Parks, Inc. ...... 1,354 60,470 Public Storage................ 11,089 881,575 Ramco-Gershenson Properties Trust....................... 1,630 10,073 Regency Centers Corp. ........ 5,991 279,780 Saul Centers, Inc. ........... 1,003 39,618 Senior Housing Properties Trust....................... 9,881 177,068 Simon Property Group, Inc. ... 19,221 1,021,212 SL Green Realty Corp. ........ 4,907 127,091 Sovran Self Storage, Inc. .... 1,926 69,336 Strategic Hotels & Resorts, Inc. ....................... 6,563 11,026 Sun Communities, Inc. ........ 1,486 20,804 Sunstone Hotel Investors, Inc. ....................... 4,208 26,048 Tanger Factory Outlet Centers, Inc. ....................... 2,681 100,859 Taubman Centers, Inc. ........ 4,531 115,359
SPDR DJ WILSHIRE GLOBAL REAL ESTATE ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- --------- ----------- The Macerich Co. ............. 6,601 $ 119,874 U-Store-It Trust.............. 4,161 18,516 UDR, Inc. .................... 11,741 161,908 Universal Health Realty Income Trust....................... 970 31,923 Ventas, Inc. ................. 12,376 415,462 Vornado Realty Trust.......... 12,387 747,555 Washington Real Estate Investment Trust............ 4,360 123,388 Weingarten Realty Investors... 6,991 144,644 ----------- TOTAL UNITED STATES........... 12,816,860 ----------- TOTAL COMMON STOCKS -- (Cost $34,730,272).......... 27,459,445 ----------- RIGHTS -- 0.0% (c) AUSTRALIA -- 0.0% (c) ING Office Fund (expiring 01/08/09) (b)............... 24,449 170 Macquarie Office Trust (expiring 01/12/09) (b)..... 130,688 3,645 ----------- TOTAL RIGHTS -- (Cost $--).................. 3,815 ----------- SHORT TERM INVESTMENTS -- 8.7% UNITED STATES -- 8.7% MONEY MARKET FUNDS -- 8.7% State Street Navigator Securities Lending Prime Portfolio (f)(g)............ 1,933,859 1,933,859 STIC Prime Portfolio.......... 470,208 470,208 ----------- TOTAL SHORT TERM INVESTMENTS -- (Cost $2,404,067)........... 2,404,067 ----------- TOTAL INVESTMENTS -- 107.9% (COST $37,134,339).......... 29,867,327 OTHER ASSETS AND LIABILITIES -- (7.9)%....... (2,192,875) ----------- NET ASSETS -- 100.0%.......... $27,674,452 ===========
(a) Security, or portion thereof, was on loan at December 31, 2008. (b) Non-income producing security. (c) Amount shown represents less than 0.05% of net assets. (d) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. (e) Company has filed for civil rehabilitation (insolvency). (f) Affiliated Fund managed by SSgA Funds Management, Inc. (g) Investments of cash collateral for securities loaned. REIT = Real Estate Investment Trust SPDR DJ WILSHIRE GLOBAL REAL ESTATE ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Retail REIT's......................... 28.8% Real Estate Management & Development.. 18.2 Office REIT's......................... 15.6 Specialized REIT's.................... 13.3 Diversified REIT's.................... 10.5 Residential REIT's.................... 8.5 Industrial REIT's..................... 4.3 Short Term Investments................ 8.7 Other Assets & Liabilities............ (7.9) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P INTERNATIONAL CONSUMER DISCRETIONARY SECTOR ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- COMMON STOCKS -- 99.8% AUSTRALIA -- 3.1% Aristocrat Leisure, Ltd. ....... 7,216 $ 19,520 Crown, Ltd. .................... 6,663 27,734 Fairfax Media, Ltd. ............ 35,850 40,866 Tatts Group, Ltd. .............. 11,364 22,105 ---------- TOTAL AUSTRALIA................. 110,225 ---------- BELGIUM -- 0.4% S.A. D'Ieteren NV............... 118 12,318 ---------- CANADA -- 3.7% Canadian Tire Corp., Ltd. (Class A)............................ 627 22,068 Gildan Activewear, Inc. (a)..... 838 9,633 Magna International, Inc. (Class A)............................ 692 20,600 Shaw Communications, Inc. ...... 2,087 36,533 Thomson Reuters Corp. .......... 1,397 40,286 ---------- TOTAL CANADA.................... 129,120 ---------- CHINA -- 2.0% Esprit Holdings, Ltd. .......... 4,700 26,623 Giordano International, Ltd. ... 80,000 20,128 GOME Electrical Appliances Holdings, Ltd. ............... 26,000 3,757 Li & Fung, Ltd. ................ 12,000 20,562 ---------- TOTAL CHINA..................... 71,070 ---------- FINLAND -- 0.8% Nokian Renkaat Oyj.............. 561 6,168 SanomaWSOY Oyj.................. 1,672 21,406 ---------- TOTAL FINLAND................... 27,574 ---------- FRANCE -- 11.8% Accor SA........................ 923 45,047 Cie Generale des Etablissements Michelin...................... 705 36,818 Havas SA........................ 9,322 19,022 Hermes International............ 267 37,114 LVMH Moet Hennessy Louis Vuitton SA............................ 745 49,470 PPR............................. 370 23,967 PSA Peugeot Citroen............. 829 14,001 Renault SA...................... 787 20,293 Sodexo.......................... 588 32,347 Thomson (a)..................... 4,652 6,208 Vivendi......................... 4,049 130,943 ---------- TOTAL FRANCE.................... 415,230 ---------- GERMANY -- 14.3% Adidas AG....................... 925 34,897 Bayerische Motoren Werke AG..... 1,319 39,621 Continental AG (a).............. 668 67,320 Daimler AG...................... 3,388 125,743 Porsche Automobil Holding SE.... 379 28,897 Premiere AG (a)................. 643 3,325 TUI AG.......................... 1,466 16,394 Volkswagen AG................... 541 188,004 ---------- TOTAL GERMANY................... 504,201 ---------- GREECE -- 1.1% Jumbo SA........................ 1,982 11,957 OPAP SA......................... 874 25,124 ---------- TOTAL GREECE.................... 37,081 ---------- ITALY -- 2.2% Fiat SpA........................ 3,783 24,137 Lottomatica SpA................. 1,377 33,688 Pirelli & C. SpA................ 55,752 20,382 ---------- TOTAL ITALY..................... 78,207 ---------- JAPAN -- 36.8% Aisin Seiki Co., Ltd. .......... 1,100 14,986 Aoyama Trading Co., Ltd. ....... 2,000 31,351 Benesse Corp. .................. 600 26,012 Bridgestone Corp. .............. 3,100 45,380 Casio Computer Co., Ltd. ....... 1,900 11,717 Denso Corp. .................... 1,700 27,568 Dentsu, Inc. ................... 15 29,289 Fast Retailing Co., Ltd. ....... 300 42,956 Fuji Heavy Industries, Ltd. .... 6,000 15,819 Gunze, Ltd. .................... 10,000 32,432 Honda Motor Co., Ltd. .......... 5,400 113,540 Isetan Mitsukoshi Holdings, Ltd. (a)........................... 2,600 21,999 Isuzu Motors, Ltd. ............. 6,000 7,479 Makita Corp. ................... 900 19,529 Matsushita Electric Industrial Co., Ltd. .................... 7,000 85,946 Mazda Motor Corp. .............. 7,000 11,506 Mitsubishi Motors Corp. (a)..... 17,000 22,879 Namco Bandai Holdings, Inc. .... 2,000 21,511 Nikon Corp. .................... 1,000 11,671 Nissan Motor Co., Ltd. ......... 8,000 28,241 Pioneer Corp. .................. 5,200 9,350 Rakuten, Inc. .................. 31 19,493 Resorttrust, Inc. .............. 3,200 35,371 Sanyo Electric Co., Ltd. (a).... 10,000 18,312 Sekisui Chemical Co., Ltd. ..... 4,000 24,534 Sekisui House, Ltd. ............ 4,000 34,330 Sharp Corp. .................... 4,000 28,064 Shimano, Inc. .................. 600 23,232 Sony Corp. ..................... 3,700 78,449 Stanley Electric Co., Ltd. ..... 1,200 12,351 Sumitomo Forestry Co., Ltd. .... 3,400 27,155 Suzuki Motor Corp. ............. 1,800 24,384 Toyobo Co., Ltd. ............... 17,000 25,317 Toyota Motor Corp. ............. 8,600 275,599 Yamada Denki Co., Ltd. ......... 500 34,087 ---------- TOTAL JAPAN..................... 1,291,839 ---------- LUXEMBOURG -- 0.8% Reinet Investments SCA (a)...... 133 1,294 SES............................. 1,421 27,298 ---------- TOTAL LUXEMBOURG................ 28,592 ---------- NETHERLANDS -- 2.2% Reed Elsevier NV................ 3,490 40,848 Wolters Kluwer NV............... 1,892 35,610 ---------- TOTAL NETHERLANDS............... 76,458 ---------- NORWAY -- 0.3% Schibsted ASA................... 1,035 12,268 ---------- SOUTH KOREA -- 2.6% Hyundai Motor Co. .............. 1,237 38,793 LG Electronics, Inc. ........... 864 51,310 ---------- TOTAL SOUTH KOREA............... 90,103 ---------- SPAIN -- 1.7% Industria de Diseno Textil SA... 882 38,411 La Seda de Barcelona SA (Class B) (a)........................ 15,959 7,543 NH Hoteles SA................... 2,406 12,341 ---------- TOTAL SPAIN..................... 58,295 ---------- SWEDEN -- 3.1% Electrolux AB................... 3,140 26,505 Eniro AB........................ 12,323 16,674
SPDR S&P INTERNATIONAL CONSUMER DISCRETIONARY SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- Hennes & Mauritz AB (Class B)... 1,676 $ 64,747 ---------- TOTAL SWEDEN.................... 107,926 ---------- SWITZERLAND -- 1.3% Cie Financiere Richemont SA (Class A) (a)................. 974 18,558 Swatch Group AG................. 209 28,630 ---------- TOTAL SWITZERLAND............... 47,188 ---------- UNITED KINGDOM -- 11.6% British Sky Broadcasting Group PLC........................... 5,280 36,438 Carnival PLC.................... 1,158 25,124 Compass Group PLC............... 8,251 40,808 Enterprise Inns PLC............. 4,020 3,208 Home Retail Group PLC........... 5,694 17,315 Inchcape PLC.................... 8,546 4,515 Kingfisher PLC.................. 15,757 30,584 Marks & Spencer Group PLC....... 7,561 23,345 Next PLC........................ 1,676 26,049 Pearson PLC..................... 4,836 44,568 Reed Elsevier PLC............... 5,517 40,097 Thomson Reuters PLC............. 1,189 25,813 Tui Travel PLC.................. 7,923 26,599 Virgin Media, Inc. ............. 2,097 10,464 Whitbread PLC................... 1,637 21,582 WPP Group PLC................... 5,619 32,517 ---------- TOTAL UNITED KINGDOM............ 409,026 ---------- TOTAL COMMON STOCKS -- (Cost $5,100,260)............. 3,506,721 ---------- RIGHTS -- 0.0% (b) GERMANY -- 0.0% (b) Premiere AG (expiring 01/12/09)(a)(c) (Cost $0)..................... 643 -- ---------- SHORT TERM INVESTMENTS -- 1.2% UNITED STATES -- 1.2% MONEY MARKET FUND -- 1.2% STIC Prime Portfolio (Cost $42,183)................ 42,183 42,183 ---------- TOTAL INVESTMENTS -- 101.0% (Cost $5,142,443)............. 3,548,904 OTHER ASSETS AND LIABILITIES -- (1.0)%......... (34,448) ---------- NET ASSETS -- 100.0%............ $3,514,456 ==========
(a) Non-income producing security. (b) Amount shown represents less than 0.05% of net assets. (c) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. SPDR S&P INTERNATIONAL CONSUMER DISCRETIONARY SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Automobiles........................... 27.9% Media................................. 18.3 Household Durables.................... 12.0 Hotels, Restaurants & Leisure......... 11.0 Specialty Retail...................... 8.3 Auto Components....................... 7.2 Textiles, Apparel & Luxury Goods...... 6.9 Multiline Retail...................... 3.3 Leisure Equipment & Products.......... 1.9 Distributors.......................... 1.1 Internet & Catalog Retail............. 1.1 Diversified Consumer Services......... 0.8 Short Term Investments................ 1.2 Other Assets & Liablities............. (1.0) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P INTERNATIONAL CONSUMER STAPLES SECTOR ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- COMMON STOCKS -- 98.6% AUSTRALIA -- 6.7% Coca-Cola Amatil, Ltd. ......... 8,296 $ 53,155 Foster's Group, Ltd. ........... 15,698 60,196 Wesfarmers, Ltd. ............... 4,537 56,937 Woolworths, Ltd. ............... 6,922 128,710 ---------- TOTAL AUSTRALIA................. 298,998 ---------- BELGIUM -- 2.9% Anheuser-Busch InBev NV (a)..... 2,040 11 Delhaize Group.................. 836 51,364 InBev NV........................ 3,319 76,493 ---------- TOTAL BELGIUM................... 127,868 ---------- CANADA -- 2.9% Loblaw Co., Ltd. ............... 1,585 44,899 Shoppers Drug Mart Corp. ....... 1,867 72,669 Viterra, Inc. (a)............... 1,572 12,097 ---------- TOTAL CANADA.................... 129,665 ---------- DENMARK -- 0.7% Carlsberg A/S (Class B)......... 921 29,455 ---------- FINLAND -- 0.5% Kesko Oyj (Class B)............. 924 22,862 ---------- FRANCE -- 11.8% Carrefour SA.................... 3,261 124,747 Casino Guichard-Perrachon SA.... 470 35,475 Groupe Danone................... 2,969 178,206 L'Oreal SA...................... 1,188 102,881 Pernod -- Ricard SA............. 1,177 86,664 ---------- TOTAL FRANCE.................... 527,973 ---------- GERMANY -- 1.2% Beiersdorf AG................... 901 52,602 ---------- GREECE -- 0.1% Alapis Holding Industrial and Commercial SA................. 6,089 4,571 ---------- IRELAND -- 0.7% Kerry Group PLC (Class A)....... 1,703 31,011 ---------- ITALY -- 0.6% Parmalat SpA.................... 17,146 27,766 ---------- JAPAN -- 18.7% Aeon Co., Ltd. ................. 4,500 44,280 Ajinomoto Co., Inc. ............ 7,000 74,981 Asahi Breweries, Ltd. .......... 3,700 62,816 Japan Tobacco, Inc. ............ 28 91,120 Kao Corp. ...................... 4,000 119,581 Kirin Holdings Co., Ltd. ....... 6,000 77,838 Lawson, Inc. ................... 1,100 62,979 Nichirei Corp. ................. 10,000 46,884 Seven & I Holdings Co., Ltd. ... 4,800 161,500 Shiseido Co., Ltd. ............. 3,000 60,397 UNY Co., Ltd. .................. 3,000 32,432 ---------- TOTAL JAPAN..................... 834,808 ---------- LUXEMBOURG -- 0.1% Oriflame Cosmetics SA........... 232 6,616 ---------- NETHERLANDS -- 8.7% Heineken NV..................... 2,037 62,011 Koninklijke Ahold NV............ 7,126 87,069 Unilever NV..................... 9,863 237,732 ---------- TOTAL NETHERLANDS............... 386,812 ---------- NORWAY -- 0.1% Marine Harvest (a).............. 15,432 2,314 ---------- SINGAPORE -- 0.5% Golden Agri-Resources, Ltd. .... 42,000 6,851 Wilmar International, Ltd. ..... 7,000 13,555 ---------- TOTAL SINGAPORE................. 20,406 ---------- SPAIN -- 1.8% Ebro Puleva SA.................. 3,362 45,799 SOS Cuetara SA.................. 2,234 35,308 ---------- TOTAL SPAIN..................... 81,107 ---------- SWEDEN -- 1.0% Swedish Match AB................ 3,090 43,666 ---------- SWITZERLAND -- 11.5% Lindt & Spruengli AG............ 24 44,196 Nestle SA....................... 11,972 467,924 ---------- TOTAL SWITZERLAND............... 512,120 ---------- UNITED KINGDOM -- 28.1% British American Tobacco PLC.... 7,163 185,375 Cadbury PLC..................... 8,546 74,398 Diageo PLC...................... 13,815 190,879 Imperial Tobacco Group PLC...... 5,572 148,206 J Sainsbury PLC................. 7,639 36,079 Reckitt Benckiser PLC........... 3,613 133,916 SABMiller PLC................... 3,573 59,744 Tate & Lyle PLC................. 3,592 20,696 Tesco PLC....................... 37,361 193,377 Unilever PLC.................... 7,238 164,318 William Morrison Supermarkets PLC........................... 12,075 48,654 ---------- TOTAL UNITED KINGDOM............ 1,255,642 ---------- TOTAL COMMON STOCKS -- (Cost $5,418,129)............... 4,396,262 ---------- PREFERRED STOCK -- 1.3% GERMANY -- 1.3% Henkel AG & Co. KGaA (Cost $70,891)................ 1,914 60,102 ---------- RIGHTS -- 0.0% (b) BELGIUM -- 0.0% (b) Anheuser-Busch InBev NV (expired 12/09/08) (a) (Cost $106)................... 4 -- ---------- SHORT TERM INVESTMENTS -- 0.3% UNITED STATES -- 0.3% MONEY MARKET FUNDS -- 0.3% STIC Prime Portfolio (Cost $12,876)................ 12,876 12,876 ---------- TOTAL INVESTMENTS -- 100.2% (Cost $5,502,002)............. 4,469,240 OTHER ASSETS AND LIABILITIES -- (0.2)%......... (9,060) ---------- NET ASSETS -- 100.0%............ $4,460,180 ==========
(a) Non-income producing security. (b) Amount shown represents less than 0.05% of net assets. SPDR S&P INTERNATIONAL CONSUMER STAPLES SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Food Products......................... 33.3% Food & Staples Retailing.............. 27.0 Beverages............................. 17.0 Tobacco............................... 10.5 Household Products.................... 7.1 Personal Products..................... 5.0 Short Term Investments................ 0.3 Other Assets & Liabliities............ (0.2) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P INTERNATIONAL ENERGY SECTOR ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------- ---------- COMMON STOCKS -- 99.0% AUSTRALIA -- 4.2% Origin Energy, Ltd. ........... 4,706 $ 52,890 Santos, Ltd. .................. 3,575 37,063 Woodside Petroleum, Ltd. ...... 2,228 57,009 WorleyParsons, Ltd. ........... 1,428 14,068 ---------- TOTAL AUSTRALIA................ 161,030 ---------- AUSTRIA -- 0.6% OMV AG......................... 929 24,174 ---------- CANADA -- 24.9% Bonavista Energy Trust......... 1,398 19,252 Cameco Corp. .................. 2,096 35,740 Canadian Natural Resources, Ltd. ........................ 2,929 115,665 Canadian Oil Sands Trust....... 1,365 23,330 Enbridge, Inc. ................ 2,130 68,257 EnCana Corp. .................. 3,661 168,919 Enerplus Resources Fund........ 1,165 22,611 Husky Energy, Inc. ............ 1,630 40,760 Imperial Oil, Ltd. ............ 1,630 54,122 Nexen, Inc. ................... 2,795 48,564 Niko Resources, Ltd. .......... 466 16,039 OPTI Canada, Inc. (a).......... 2,096 3,056 Penn West Energy Trust......... 1,398 15,546 Petro-Canada................... 2,329 50,410 Provident Energy Trust......... 4,659 20,191 Suncor Energy, Inc. ........... 5,060 97,224 Talisman Energy, Inc. ......... 5,590 55,153 TransCanada Corp. ............. 3,329 89,447 Vermilion Energy Trust......... 1,165 23,772 ---------- TOTAL CANADA................... 968,058 ---------- FRANCE -- 13.0% Bourbon SA..................... 771 19,334 Cie Generale de Geophysique- Veritas (a).................. 983 14,484 Technip SA..................... 699 21,191 Total SA....................... 8,348 451,517 ---------- TOTAL FRANCE................... 506,526 ---------- HONG KONG -- 0.2% Mongolia Energy Co., Ltd. (a).. 24,000 7,370 ---------- ITALY -- 6.3% Eni SpA........................ 8,290 192,904 Saipem SpA..................... 1,451 23,840 Saras SpA...................... 8,835 29,475 ---------- TOTAL ITALY.................... 246,219 ---------- JAPAN -- 2.9% Inpex Holdings, Inc. .......... 5 38,500 Nippon Mining Holdings, Inc. .. 7,000 29,189 Nippon Oil Corp. .............. 9,000 44,379 ---------- TOTAL JAPAN.................... 112,068 ---------- LUXEMBOURG -- 0.7% Acergy SA...................... 4,571 25,459 ---------- NETHERLANDS -- 0.5% SBM Offshore NV................ 1,374 17,856 ---------- NORWAY -- 3.2% Aker Solutions ASA............. 3,334 21,426 StatoilHydro ASA............... 6,357 103,407 ---------- TOTAL NORWAY................... 124,833 ---------- PAPUA NEW GUINEA -- 0.6% Oil Search, Ltd. .............. 7,668 24,860 ---------- PORTUGAL -- 0.7% Galp Energia SGPS SA (Class B)........................... 2,558 25,530 ---------- SPAIN -- 4.1% Cia Espanola de Petroleos SA... 727 68,314 Repsol YPF SA.................. 4,409 92,544 ---------- TOTAL SPAIN.................... 160,858 ---------- SWITZERLAND -- 2.2% Transocean, Ltd. (a)........... 1,800 85,050 ---------- UNITED KINGDOM -- 34.9% Amec PLC....................... 2,874 20,361 BG Group PLC................... 12,424 170,945 BP PLC......................... 65,932 498,615 Cairn Energy PLC (a)........... 757 21,931 Royal Dutch Shell PLC (Class A)........................... 13,787 357,792 Royal Dutch Shell PLC (Class B)........................... 9,707 240,885 Tullow Oil PLC................. 4,714 44,698 ---------- TOTAL UNITED KINGDOM........... 1,355,227 ---------- TOTAL COMMON STOCKS -- (Cost $6,180,812)............ 3,845,118 ---------- SHORT TERM INVESTMENTS -- 3.2% UNITED STATES -- 3.2% MONEY MARKET FUNDS -- 3.2% STIC Prime Portfolio (Cost $123,399).............. 123,399 123,399 ---------- TOTAL INVESTMENTS -- 102.2% (Cost $6,304,211)............ 3,968,517 OTHER ASSETS AND LIABILITIES -- (2.2)%........ (85,810) ---------- NET ASSETS -- 100.0%........... $3,882,707 ==========
(a) Non-income producing security. SPDR S&P INTERNATIONAL ENERGY SECTOR ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Oil, Gas & Consumable Fuels........... 92.2% Energy Equipment & Services........... 6.8 Short Term Investments................ 3.2 Other Assets & Liabilities............ (2.2) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P INTERNATIONAL FINANCIAL SECTOR ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------- ---------- COMMON STOCKS -- 99.6% AUSTRALIA -- 11.2% AMP, Ltd. ..................... 5,392 $ 20,375 Australia & New Zealand Banking Group, Ltd. ................. 3,439 36,660 Commonwealth Bank of Australia.................... 2,294 46,222 Commonwealth Property Office Fund......................... 41,535 34,171 Macquarie Group, Ltd. ......... 780 15,667 National Australia Bank, Ltd. ........................ 2,888 42,022 QBE Insurance Group, Ltd. ..... 2,174 39,121 Westfield Group................ 3,883 35,059 Westpac Banking Corp. ......... 5,293 62,624 ---------- TOTAL AUSTRALIA................ 331,921 ---------- AUSTRIA -- 0.5% Atrium European Real Estate, Ltd. (a)..................... 2,627 9,421 Raiffeisen International Bank- Holding AG................... 175 4,695 ---------- TOTAL AUSTRIA.................. 14,116 ---------- BELGIUM -- 1.7% Gimv NV........................ 647 27,880 KBC Groep NV................... 409 12,195 RHJ International (a).......... 2,069 10,009 ---------- TOTAL BELGIUM.................. 50,084 ---------- CANADA -- 10.6% Bank of Montreal............... 1,044 26,428 Bank of Nova Scotia............ 1,616 43,604 Brookfield Asset Management, Inc. (Class A)............... 1,313 19,729 Canadian Imperial Bank of Commerce..................... 751 31,080 Manulife Financial Corp. ...... 2,424 40,842 Royal Bank of Canada........... 2,263 66,176 Sun Life Financial, Inc. ...... 1,247 28,728 TMX Group, Inc. ............... 586 11,957 Toronto-Dominion Bank.......... 1,276 44,911 ---------- TOTAL CANADA................... 313,455 ---------- CHINA -- 6.0% Bank of East Asia, Ltd. ....... 6,246 13,056 Cheung Kong Holdings, Ltd. .... 5,000 47,289 GZI REIT....................... 227,000 52,428 Hong Kong Exchanges and Clearing, Ltd. .............. 2,300 21,842 New World Development Co., Ltd. ........................ 10,000 10,142 Sun Hung Kai Properties, Ltd. ........................ 4,000 33,341 ---------- TOTAL CHINA.................... 178,098 ---------- DENMARK -- 0.4% Jyske Bank A/S (a)............. 519 11,873 ---------- FINLAND -- 1.0% Sponda Oyj..................... 3,510 15,125 Technopolis Oyj................ 3,430 13,732 ---------- TOTAL FINLAND.................. 28,857 ---------- FRANCE -- 6.6% AXA............................ 2,539 55,922 BNP Paribas SA................. 1,387 58,322 Societe Generale............... 917 45,888 Store Electronic (a)........... 782 11,229 Unibail-Rodamco................ 172 25,463 ---------- TOTAL FRANCE................... 196,824 ---------- GERMANY -- 6.6% Allianz SE..................... 682 71,101 Commerzbank AG................. 1,339 12,359 Deutsche Bank AG............... 841 32,534 Deutsche Boerse AG............. 361 25,492 Hypo Real Estate Holding AG.... 193 818 Muenchener Rueckversicherungs- Gesellschaft AG.............. 347 53,541 ---------- TOTAL GERMANY.................. 195,845 ---------- IRELAND -- 0.2% Bank of Ireland................ 6,144 7,123 ---------- ITALY -- 7.7% Assicurazioni Generali SpA..... 1,544 41,830 Banca Monte dei Paschi di Siena SpA.......................... 13,544 28,730 Banca Popolare dell'Etruria e del Lazio Scrl............... 3,307 18,387 Banco Popolare Societa Cooperativa Scarl............ 1,519 10,452 Intesa Sanpaolo SpA............ 15,882 56,020 UniCredit SpA.................. 19,618 47,586 Unione di Banche Italiane ScpA......................... 1,779 25,446 ---------- TOTAL ITALY.................... 228,451 ---------- JAPAN -- 19.1% Chuo Mitsui Trust Holdings, Inc. ........................ 3,000 14,231 Daito Trust Construction Co., Ltd. ........................ 600 30,976 Daiwa House Industry Co., Ltd. ........................ 3,000 28,627 Daiwa Securities Group, Inc. .. 4,000 23,210 Mitsubishi Estate Co., Ltd. ... 1,990 31,765 Mitsubishi UFJ Financial Group, Inc. ........................ 14,400 87,210 Mitsui Fudosan Co., Ltd. ...... 1,928 31,073 Mitsui Sumitomo Insurance Group Holdings, Inc. .............. 900 27,650 Mizuho Financial Group, Inc. .. 17 48,328 Nomura Holdings, Inc. ......... 3,800 30,559 ORIX Corp. .................... 220 12,110 Resona Holdings, Inc. ......... 14 20,710 Sompo Japan Insurance, Inc. ... 3,000 21,346 Sumitomo Mitsui Financial Group, Inc. ................. 12 49,774 Sumitomo Realty & Development Co., Ltd. ................... 574 8,320 T&D Holdings, Inc. ............ 500 20,408 The Bank of Yokohama, Ltd. .... 4,000 22,990 The Sumitomo Trust & Banking Co., Ltd. ................... 4,000 22,769 Tokio Marine Holdings, Inc. ... 1,300 37,000 ---------- TOTAL JAPAN.................... 569,056 ---------- NETHERLANDS -- 2.5% Aegon NV....................... 2,940 18,492 Fortis......................... 3,678 4,750 ING Groep NV................... 3,259 33,206 Van Lanschot NV................ 267 17,815 ---------- TOTAL NETHERLANDS.............. 74,263 ---------- NORWAY -- 0.5% Sparebanken Rogaland........... 3,468 16,097 ---------- PORTUGAL -- 0.4% Banco Comercial Portugues SA (a).......................... 11,226 12,718 ---------- SINGAPORE -- 3.1% City Developments, Ltd. ....... 4,000 17,686 Oversea-Chinese Banking Corp., Ltd. ........................ 11,000 38,098 United Overseas Bank, Ltd. .... 4,000 35,870 ---------- TOTAL SINGAPORE................ 91,654 ---------- SPAIN -- 9.5% Banco Bilbao Vizcaya Argentaria SA........................... 5,713 68,772 Banco de Sabadell SA........... 3,980 26,832 Banco Guipuzcoano SA........... 1,769 13,844 Banco Pastor SA................ 1,785 12,406 Banco Popular Espanol SA....... 3,651 30,857
SPDR S&P INTERNATIONAL FINANCIAL SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------- ---------- Banco Santander SA............. 11,201 $ 105,097 Corporacion Financiera Alba SA........................... 662 25,076 ---------- TOTAL SPAIN.................... 282,884 ---------- SWEDEN -- 2.3% Investor AB.................... 2,889 42,744 Nordea Bank AB................. 3,725 25,766 ---------- TOTAL SWEDEN................... 68,510 ---------- SWITZERLAND -- 7.5% Credit Suisse Group AG......... 1,648 44,128 Julius Baer Holding AG......... 503 18,894 Swiss Life Holding (a)......... 102 6,938 Swiss Reinsurance.............. 735 34,735 UBS AG (a)..................... 4,639 64,681 Zurich Financial Services AG... 257 54,812 ---------- TOTAL SWITZERLAND.............. 224,188 ---------- UNITED KINGDOM -- 2.2% Barclays PLC................... 13,553 29,891 HBOS PLC....................... 6,866 6,811 HSBC Holdings PLC.............. 2,117 20,150 Man Group PLC.................. 2,279 7,780 ---------- TOTAL UNITED KINGDOM........... 64,632 ---------- TOTAL COMMON STOCKS -- (Cost $4,853,064)............ 2,960,649 ---------- RIGHTS -- 0.0% (b) BELGIUM -- 0.0% (b) Fortis (expiring 7/4/14) (a)(c) (Cost $0).................... 3,678 -- ---------- UNITED KINGDOM -- 0.0% (b) HBOS PLC (expiring 1/9/09) (a) (Cost $0).................... 9,501 -- ---------- TOTAL RIGHTS -- (Cost $0).................... -- ---------- SHORT TERM INVESTMENTS -- 0.5% UNITED STATES -- 0.5% MONEY MARKET FUND -- 0.5% STIC Prime Portfolio (Cost $14,887)............... 14,887 14,887 ---------- TOTAL INVESTMENTS -- 100.1% (Cost $4,867,951)............ 2,975,536 OTHER ASSETS AND LIABILITIES -- (0.1)%........ (1,991) ---------- NET ASSETS -- 100.0%........... $2,973,545 ==========
(a) Non-income producing security. (b) Amount shown represents less than 0.05% of net assets. (c) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. REIT = Real Estate Investment Trust SPDR S&P INTERNATIONAL FINANCIAL SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Commercial Banks...................... 49.8% Insurance............................. 19.3 Real Estate Management & Development.. 14.9 Capital Markets....................... 8.4 Diversified Financial Services........ 6.8 Consumer Finance...................... 0.4 Short Term Investments................ 0.5 Other Assets & Liabilities............ (0.1) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P INTERNATIONAL HEALTH CARE SECTOR ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- COMMON STOCKS -- 98.1% AUSTRALIA -- 3.7% Cochlear, Ltd. ................. 439 $ 16,956 CSL, Ltd. ...................... 4,764 111,933 Primary Health Care, Ltd. ...... 3,599 12,295 Sonic Healthcare, Ltd. ......... 4,786 48,584 ---------- TOTAL AUSTRALIA................. 189,768 ---------- BELGIUM -- 0.9% UCB SA.......................... 1,463 47,384 ---------- CANADA -- 0.2% MDS, Inc. (a)................... 1,671 10,220 ---------- DENMARK -- 5.7% Coloplast A/S (Class B)......... 533 36,282 Genmab A/S (a).................. 279 10,577 H. Lundbeck A/S................. 1,021 20,974 Novo-Nordisk A/S (Class B)...... 4,174 211,247 William Demant A/S (a).......... 311 12,691 ---------- TOTAL DENMARK................... 291,771 ---------- FINLAND -- 0.6% Orion Oyj (Class A)............. 919 15,330 Orion Oyj (Class B)............. 900 15,100 ---------- TOTAL FINLAND................... 30,430 ---------- FRANCE -- 9.2% bioMerieux...................... 279 23,269 Essilor International SA........ 2,219 103,547 Ipsen SA........................ 524 20,388 Orpea (a)....................... 848 30,447 Sanofi-Aventis.................. 4,674 294,968 ---------- TOTAL FRANCE.................... 472,619 ---------- GERMANY -- 9.5% Bayer AG........................ 3,871 223,576 Celesio AG...................... 1,236 33,331 Fresenius Medical Care AG & Co. KGaA.......................... 2,145 99,319 Fresenius SE.................... 326 16,418 Merck KGaA...................... 588 52,727 Rhoen-Klinikum AG............... 913 21,664 Schwarz Pharma AG............... 141 21,814 Stada Arzneimittel AG........... 692 19,719 ---------- TOTAL GERMANY................... 488,568 ---------- IRELAND -- 0.4% Elan Corp. PLC (a).............. 3,348 19,383 ---------- ITALY -- 0.3% Recordati SpA................... 2,614 14,044 ---------- JAPAN -- 21.5% Alfresa Holdings Corp. ......... 200 9,443 Astellas Pharma, Inc. .......... 3,400 136,150 Chugai Pharmaceutical Co., Ltd. ......................... 2,125 40,390 Daiichi Sankyo Co., Ltd. ....... 5,100 118,147 Dainippon Sumitomo Pharma Co., Ltd. ......................... 1,000 9,178 Eisai Co., Ltd. ................ 2,400 97,959 Hisamitsu Pharmaceutical Co., Inc. ......................... 600 24,225 Kyowa Hakko Kogyo Co., Ltd. .... 2,422 24,821 Mediceo Paltac Holdings Co., Ltd. ......................... 1,600 18,921 Mitsubishi Tanabe Pharma Corp. ........................ 2,000 29,719 Olympus Corp. .................. 2,000 38,632 Ono Pharmaceutical Co., Ltd. ... 1,200 61,820 Shionogi & Co., Ltd. ........... 3,000 75,951 Suzuken Co., Ltd. .............. 700 20,618 Taisho Pharmaceutical Co., Ltd. ......................... 2,000 41,986 Takeda Pharmaceutical Co., Ltd. ......................... 5,600 286,641 Terumo Corp. ................... 1,400 64,402 ---------- TOTAL JAPAN..................... 1,099,003 ---------- NETHERLANDS -- 1.0% OPG Groep NV.................... 1,126 14,540 Qiagen NV (a)................... 2,154 37,038 ---------- TOTAL NETHERLANDS............... 51,578 ---------- NEW ZEALAND -- 0.4% Fisher & Paykel Healthcare Corp., Ltd. .................. 10,469 19,272 ---------- SINGAPORE -- 0.3% Parkway Holdings, Ltd. ......... 16,000 13,771 ---------- SPAIN -- 0.7% Faes Farma SA................... 1,707 7,118 Grifols SA...................... 1,583 27,088 ---------- TOTAL SPAIN..................... 34,206 ---------- SWEDEN -- 1.0% Elekta AB (Class B)............. 737 7,199 Getinge AB (a).................. 293 3,381 Getinge AB (Class B)............ 2,643 31,250 Meda AB (Class A)............... 1,635 10,855 ---------- TOTAL SWEDEN.................... 52,685 ---------- SWITZERLAND -- 25.9% Acino Holding AG................ 67 14,478 Actelion, Ltd. (a).............. 1,072 59,827 Bachem Holding AG (Class B)..... 497 37,590 Basilea Pharmaceutica AG (a).... 120 16,788 Coltene Holding AG.............. 202 8,161 Galenica AG..................... 78 25,155 Lonza Group AG.................. 496 45,459 Nobel Biocare Holding AG........ 1,737 34,957 Novartis AG..................... 8,709 431,216 Roche Holding AG (b)............ 228 36,138 Roche Holding AG (b)............ 2,882 440,010 Sonova Holding AG............... 727 43,373 Straumann Holding AG............ 116 20,217 Synthes, Inc. .................. 804 100,769 Tecan Group AG.................. 314 11,506 ---------- TOTAL SWITZERLAND............... 1,325,644 ---------- UNITED KINGDOM -- 16.8% AstraZeneca PLC................. 7,015 283,109 Consort Medical PLC............. 1,395 8,013 GlaxoSmithKline PLC............. 21,719 401,105 Hikma Pharmaceuticals PLC....... 2,154 10,839 Shire, Ltd. .................... 5,683 82,688 Smith & Nephew PLC.............. 7,997 50,417 SSL International PLC........... 3,749 26,681 ---------- TOTAL UNITED KINGDOM............ 862,852 ---------- TOTAL COMMON STOCKS -- (Cost $6,047,499)............. 5,023,198 ---------- PREFERRED STOCKS -- 1.1% GERMANY -- 1.1% Fresenius SE (Cost $79,650)................ 973 56,251 ----------
SPDR S&P INTERNATIONAL HEALTH CARE SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- SHORT TERM INVESTMENTS -- 0.3% UNITED STATES -- 0.3% MONEY MARKET FUNDS -- 0.3% STIC Prime Portfolio (Cost $17,824)................ 17,824 $ 17,824 ---------- TOTAL INVESTMENTS -- 99.5% (Cost $6,144,973)............. 5,097,273 OTHER ASSETS AND LIABILITIES -- 0.5%........... 24,832 ---------- NET ASSETS -- 100.0%............ $5,122,105 ==========
(a) Non-income producing security. (b) Reflects separate holdings of the issuer's common stock traded on different securities exchanges. SPDR S&P INTERNATIONAL HEALTH CARE SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Pharmaceuticals....................... 71.3% Health Care Equipment & Supplies...... 14.3 Health Care Providers & Services...... 7.5 Biotechnology......................... 5.2 Life Sciences, Tools & Services....... 0.9 Short Term Investments................ 0.3 Other Assets & Liabilities............ 0.5 ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P INTERNATIONAL INDUSTRIAL SECTOR ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- COMMON STOCKS -- 99.5% AUSTRALIA -- 4.8% Boom Logistics, Ltd. ........... 47,383 $ 21,804 Bradken, Ltd. .................. 4,290 8,195 Brambles, Ltd. ................. 5,970 30,884 GWA International, Ltd. ........ 14,674 29,669 Leighton Holdings, Ltd. ........ 581 11,200 Macquarie Infrastructure Group.. 15,750 18,778 Toll Holdings, Ltd. ............ 4,399 18,923 Transurban Group................ 7,599 28,609 Virgin Blue Holdings, Ltd. ..... 4,321 904 ---------- TOTAL AUSTRALIA................. 168,966 ---------- AUSTRIA -- 0.6% Andritz AG...................... 455 11,485 Zumtobel AG..................... 1,352 10,487 ---------- TOTAL AUSTRIA................... 21,972 ---------- BELGIUM -- 0.4% Bekaert NV...................... 233 15,650 ---------- CANADA -- 4.5% Bombardier, Inc. ............... 4,976 17,937 CAE, Inc. ...................... 2,290 15,025 Canadian National Railway Co. .. 1,538 55,789 Canadian Pacific Railway, Ltd. ......................... 649 21,544 SNC-Lavalin Group, Inc. ........ 721 23,181 Toromont Industries, Ltd. ...... 1,304 24,284 ---------- TOTAL CANADA.................... 157,760 ---------- CHINA -- 2.1% Hopewell Highway Infrastructure, Ltd. ......................... 48,000 26,693 Hutchison Whampoa, Ltd. ........ 6,000 30,077 Jardine Matheson Holdings, Ltd. ......................... 951 17,594 ---------- TOTAL CHINA..................... 74,364 ---------- DENMARK -- 2.1% A P Moller -- Maersk A/S........ 5 26,239 FLSmidth & Co. A/S.............. 275 9,295 NKT Holding A/S................. 356 7,031 Vestas Wind Systems A/S (a)..... 563 31,911 ---------- TOTAL DENMARK................... 74,476 ---------- FINLAND -- 1.4% Kone Oyj (Class B).............. 1,012 21,847 Metso Oyj....................... 648 7,674 Wartsila Oyj (Class B).......... 455 13,288 YIT Oyj......................... 943 6,004 ---------- TOTAL FINLAND................... 48,813 ---------- FRANCE -- 8.1% Air France-KLM.................. 1,368 17,438 Alstom SA....................... 627 36,588 Bouygues SA..................... 963 40,426 Cie de Saint-Gobain............. 924 43,150 Eiffage SA...................... 273 14,181 Schneider Electric SA........... 698 51,424 Vallourec SA.................... 180 20,267 Vinci SA........................ 1,496 62,385 ---------- TOTAL FRANCE.................... 285,859 ---------- GERMANY -- 9.9% Deutsche Lufthansa AG........... 1,611 25,059 Deutsche Post AG................ 2,504 41,455 GEA Group AG.................... 877 14,812 Hochtief AG..................... 279 13,861 Kloeckner & Co. AG.............. 445 7,602 MAN AG.......................... 358 19,268 Pfeiffer Vacuum Technology AG... 308 20,092 Q-Cells AG (a).................. 165 5,803 SGL Carbon AG (a)............... 331 10,997 Siemens AG...................... 2,498 182,923 Solarworld AG................... 362 7,598 ---------- TOTAL GERMANY................... 349,470 ---------- IRELAND -- 0.5% DCC PLC......................... 1,308 19,000 ---------- ITALY -- 2.1% Ansaldo STS SpA................. 2,741 38,177 Autostrada Torino-Milano SpA.... 2,001 15,187 Finmeccanica SpA................ 1,496 22,646 ---------- TOTAL ITALY..................... 76,010 ---------- JAPAN -- 32.8% Asahi Glass Co., Ltd. .......... 4,000 22,239 Central Japan Railway Co. ...... 6 51,428 Daikin Industries, Ltd. ........ 900 22,984 East Japan Railway Co. ......... 10 76,007 Fanuc, Ltd. .................... 600 41,633 Futaba Corp. ................... 2,300 28,823 Hankyu Hanshin Holdings, Inc. .. 7,000 39,923 IHI Corp. ...................... 12,000 14,959 Itochu Corp. ................... 5,000 24,435 Iwatani Corp. .................. 14,000 34,286 Jgc Corp. ...................... 1,000 14,429 Kajima Corp. ................... 7,000 23,938 Kamigumi Co., Ltd. ............. 6,000 52,818 Kawasaki Heavy Industries, Ltd. ......................... 11,000 21,721 Kawasaki Kisen Kaisha, Ltd. .... 3,000 13,635 Kokuyo Co., Ltd. ............... 3,800 27,289 Komatsu, Ltd. .................. 2,700 33,299 Kubota Corp. ................... 5,000 34,970 Marubeni Corp. ................. 5,000 18,533 MEITEC Corp. ................... 1,600 27,217 MISUMI Group, Inc. ............. 2,000 23,409 Mitsubishi Corp. ............... 4,100 55,993 Mitsubishi Electric Corp. ...... 6,000 36,536 Mitsubishi Heavy Industries, Ltd. ......................... 12,000 52,289 Mitsui & Co., Ltd. ............. 5,000 49,697 Mitsui OSK Lines, Ltd. ......... 4,000 23,916 NGK Insulators, Ltd. ........... 1,000 10,954 Nippon Sheet Glass Co., Ltd. ... 5,000 16,051 Nippon Yusen KK................. 4,000 24,048 Secom Co., Ltd. ................ 1,000 50,745 Sojitz Corp. ................... 6,000 9,730 Sumitomo Corp. ................. 3,900 33,558 Sumitomo Electric Industries, Ltd. ......................... 2,900 21,818 Sumitomo Heavy Industries, Ltd. ......................... 4,000 15,444 The Japan Steel Works, Ltd. .... 2,000 27,137 THK Co., Ltd. .................. 1,400 14,363 Tokyu Corp. .................... 6,000 29,719 Yamato Holdings Co., Ltd. ...... 3,000 38,389 ---------- TOTAL JAPAN..................... 1,158,362 ---------- NETHERLANDS -- 4.2% Aalberts Industries NV.......... 1,457 10,248 European Aeronautic Defence and Space Co. NV.................. 1,861 31,120 Koninklijke (Royal) Philips Electronics NV................ 2,829 54,386 Koninklijke BAM Groep NV........ 1,225 10,915 Randstad Holding NV............. 677 13,693 TNT NV.......................... 1,450 27,734 ---------- TOTAL NETHERLANDS............... 148,096 ----------
SPDR S&P INTERNATIONAL INDUSTRIAL SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- NORWAY -- 0.8% Orkla ASA....................... 3,552 $ 23,056 Renewable Energy Corp AS (a).... 638 5,877 ---------- TOTAL NORWAY.................... 28,933 ---------- SINGAPORE -- 2.1% Fraser and Neave, Ltd. ......... 11,000 22,523 Haw Par Corp., Ltd. ............ 12,000 30,234 Keppel Corp., Ltd. ............. 5,000 15,027 Neptune Orient Lines, Ltd. ..... 9,000 6,996 ---------- TOTAL SINGAPORE................. 74,780 ---------- SPAIN -- 3.2% Abertis Infraestructuras SA..... 1,924 33,698 ACS, Actividades de Construccion y Servicios SA................ 1,025 46,520 Gamesa Corp. Tecnologica SA..... 657 11,635 Grupo Ferrovial SA.............. 506 13,772 Sacyr Vallehermoso SA........... 833 7,376 ---------- TOTAL SPAIN..................... 113,001 ---------- SWEDEN -- 3.8% Alfa Laval AB................... 1,813 15,475 Atlas Copco AB (Class B)........ 3,461 26,041 B&B Tools AB.................... 1,164 7,360 Loomis AB (Class B) (a)......... 492 3,048 Sandvik AB...................... 3,464 21,464 Securitas AB (Class B).......... 2,464 20,019 Trelleborg AB (Class B)......... 2,240 13,653 Volvo AB ADR (Class A).......... 4,662 25,763 ---------- TOTAL SWEDEN.................... 132,823 ---------- SWITZERLAND -- 6.1% ABB, Ltd. (a)................... 6,498 95,118 Adecco SA....................... 626 21,044 Geberit AG...................... 220 23,378 Kaba Holding AG................. 109 26,729 Kuehne & Nagel International AG............................ 354 22,467 SGS SA.......................... 27 27,904 ---------- TOTAL SWITZERLAND............... 216,640 ---------- UNITED KINGDOM -- 10.0% Aggreko PLC..................... 1,867 11,965 Babcock International Group PLC........................... 2,122 14,469 BAE Systems PLC................. 10,791 58,452 British Airways PLC............. 4,906 12,675 Capita Group PLC................ 3,805 40,373 Charter International PLC....... 999 4,740 De La Rue PLC................... 1,296 16,882 Experian PLC.................... 4,685 29,099 FirstGroup PLC.................. 3,352 20,916 Intertek Group PLC.............. 1,561 17,596 Invensys PLC (a)................ 3,313 8,264 Rentokil Initial PLC............ 13,709 8,672 Rolls-Royce Group PLC (a)....... 6,999 33,761 Serco Group PLC................. 4,137 26,796 Smiths Group PLC................ 2,177 27,700 Wolseley PLC.................... 3,888 21,465 ---------- TOTAL UNITED KINGDOM............ 353,825 ---------- TOTAL COMMON STOCKS -- (Cost $5,476,202)............. 3,518,800 ---------- SHORT TERM INVESTMENTS -- 0.9% UNITED STATES -- 0.9% MONEY MARKET FUNDS -- 0.9% STIC Prime Portfolio (Cost $32,468)................ 32,468 32,468 ---------- TOTAL INVESTMENTS -- 100.4% (Cost $5,508,670)............. 3,551,268 OTHER ASSETS AND LIABILITIES -- (0.4)%......... (14,963) ---------- NET ASSETS -- 100.0%............ $3,536,305 ==========
(a) Non-income producing security. ADR = American Depositary Receipt SPDR S&P INTERNATIONAL INDUSTRIAL SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Machinery............................. 15.8% Industrial Conglomerates.............. 13.1 Commercial Services & Supplies........ 11.0 Electrical Equipment.................. 10.5 Trading Companies & Distributors...... 8.7 Construction & Engineering............ 8.4 Road & Rail........................... 7.2 Transportation Infrastructure......... 6.1 Building Products..................... 5.2 Aerospace & Defense................... 5.1 Air Freight & Logistics............... 3.6 Marine................................ 3.2 Airlines.............................. 1.6 Short Term Investments................ 0.9 Other Assets & Liabilities............ (0.4) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P INTERNATIONAL MATERIALS SECTOR ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- COMMON STOCKS -- 99.8% AUSTRALIA -- 14.4% Alumina, Ltd. .................. 7,639 $ 7,403 Amcor, Ltd. .................... 539 2,180 BHP Billiton, Ltd. ............. 12,139 257,623 BlueScope Steel, Ltd. .......... 5,148 12,562 Boral, Ltd. .................... 6,619 21,320 Fortescue Metals Group, Ltd. (a)........................... 6,257 8,420 Iluka Resources, Ltd. (a)....... 5,281 17,084 Incitec Pivot, Ltd. ............ 5,420 9,409 Mineral Deposits, Ltd (a)....... 3,359 1,639 Newcrest Mining, Ltd. .......... 1,947 46,004 OneSteel, Ltd. ................. 6,585 11,294 Orica, Ltd. .................... 1,773 17,281 OZ Minerals, Ltd. (b)........... 16,193 6,209 Rio Tinto, Ltd. ................ 1,018 26,971 Sims Group, Ltd. ............... 1,329 16,067 ---------- TOTAL AUSTRALIA................. 461,466 ---------- AUSTRIA -- 0.8% RHI AG (a)...................... 798 12,479 Voestalpine AG.................. 635 13,276 ---------- TOTAL AUSTRIA................... 25,755 ---------- BELGIUM -- 1.3% Tessenderlo Chemie NV........... 784 23,572 Umicore......................... 824 16,116 ---------- TOTAL BELGIUM................... 39,688 ---------- CANADA -- 15.8% Agnico-Eagle Mines, Ltd. ....... 660 33,559 Agrium, Inc. ................... 662 22,238 Barrick Gold Corp. ............. 3,315 120,060 ECU Silver Mining, Inc. (a)..... 1,700 1,239 Eldorado Gold Corp. (a)......... 2,904 22,700 Equinox Minerals, Ltd. (a)...... 3,393 3,738 First Quantum Minerals, Ltd. ... 392 5,592 FNX Mining Co., Inc. (a)........ 862 2,123 Forsys Metals Corp. (a)......... 600 2,858 Gammon Gold, Inc. (a)........... 300 1,640 Gerdau Ameristeel Corp. ........ 1,428 8,699 Goldcorp, Inc. ................. 2,735 85,052 HudBay Minerals, Inc. (a)....... 700 1,735 Inmet Mining Corp. ............. 342 5,424 Ivanhoe Mines, Ltd. (a)......... 1,695 4,490 Kinross Gold Corp. ............. 2,376 43,305 Lundin Mining Corp. (a)......... 2,852 2,749 Pan American Silver Corp. (a)... 681 11,590 Potash Corp. of Saskatchewan, Inc. ......................... 1,126 81,670 Sherritt International Corp. ... 2,315 5,926 Silver Wheaton Corp. (a)........ 791 5,126 Sino-Forest Corp. (a)........... 646 5,165 Teck Cominco, Ltd. (Class B).... 1,925 9,387 Thompson Creek Metals Co., Inc. (a)........................... 442 1,755 Yamana Gold, Inc. .............. 2,472 18,923 ---------- TOTAL CANADA.................... 506,743 ---------- CHINA -- 0.6% AMVIG Holdings, Ltd. ........... 6,000 2,709 China Grand Forestry Green Resources Group, Ltd. (a)..... 56,000 2,348 China Mining Resources Group, Ltd. (a)...................... 40,000 1,141 China Rare Earth Holdings, Ltd. ......................... 36,000 3,995 Fushan International Energy Group, Ltd. (a)............... 28,000 7,009 Sino Union Petroleum & Chemical International, Ltd. (a)....... 30,000 2,826 ---------- TOTAL CHINA..................... 20,028 ---------- DENMARK -- 1.0% Novozymes A/S................... 416 32,474 ---------- FINLAND -- 2.7% Rautaruukki Oyj................. 899 15,196 Stora Enso Oyj.................. 4,345 33,340 UPM-Kymmene Oyj................. 3,049 38,144 ---------- TOTAL FINLAND................... 86,680 ---------- FRANCE -- 4.2% Air Liquide SA.................. 1,012 92,070 Eramet.......................... 14 2,686 Lafarge SA...................... 662 39,891 ---------- TOTAL FRANCE.................... 134,647 ---------- GERMANY -- 8.4% BASF SE......................... 2,829 109,047 K+S AG.......................... 608 33,780 Lanxess AG...................... 736 14,047 Linde AG........................ 560 46,589 Salzgitter AG................... 257 19,648 ThyssenKrupp AG................. 1,770 46,649 ---------- TOTAL GERMANY................... 269,760 ---------- IRELAND -- 1.7% CRH PLC......................... 2,201 54,612 ---------- ITALY -- 0.7% Buzzi Unicem SpA................ 1,346 21,666 ---------- JAPAN -- 20.5% Asahi Kasei Corp. .............. 8,000 34,418 Denki Kagaku Kogyo Kabushiki Kaisha........................ 11,000 26,332 JFE Holdings, Inc. ............. 2,300 59,244 JSR Corp. ...................... 1,600 17,562 Kobe Steel, Ltd. ............... 19,000 33,955 Mitsubishi Chemical Holdings Corp. ........................ 5,500 23,844 Mitsubishi Materials Corp. ..... 8,000 19,680 Mitsubishi Rayon Co., Ltd. ..... 9,000 26,608 Mitsui Chemicals, Inc. ......... 6,000 21,710 Mitsui Mining & Smelting Co., Ltd. ......................... 14,000 28,880 Nippon Steel Corp. ............. 23,000 73,580 Nitto Denko Corp. .............. 1,000 18,820 Shin-Etsu Chemical Co., Ltd. ... 1,500 67,347 Sumitomo Chemical Co., Ltd. .... 7,000 23,320 Sumitomo Metal Industries, Ltd. ......................... 17,000 40,695 Sumitomo Metal Mining Co., Ltd. ......................... 3,000 31,175 Taiheiyo Cement Corp. .......... 14,000 26,255 Teijin, Ltd. ................... 10,000 27,689 Toray Industries, Inc. ......... 7,000 34,904 Ube Industries, Ltd. ........... 8,000 21,798 ---------- TOTAL JAPAN..................... 657,816 ---------- LUXEMBOURG -- 2.2% ArcelorMittal................... 2,916 68,908 ---------- NETHERLANDS -- 2.1% Akzo Nobel NV................... 1,088 44,524 Koninklijke DSM NV.............. 925 23,562 ---------- TOTAL NETHERLANDS............... 68,086 ---------- NORWAY -- 0.8% Norsk Hydro ASA................. 2,478 9,838 Yara International ASA.......... 736 15,636 ---------- TOTAL NORWAY.................... 25,474 ----------
SPDR S&P INTERNATIONAL MATERIALS SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- PAPUA NEW GUINEA -- 0.7% Lihir Gold, Ltd. (a)............ 11,255 $ 23,619 ---------- PORTUGAL -- 0.8% Semapa-Sociedade de Investimento e Gestao, SGPS, SA............ 2,724 24,237 ---------- SINGAPORE -- 0.1% Delong Holdings, Ltd. .......... 3,000 1,260 Jiutian Chemical Group, Ltd. ... 63,000 1,967 ---------- TOTAL SINGAPORE................. 3,227 ---------- SOUTH KOREA -- 1.7% POSCO ADR....................... 720 54,180 ---------- SPAIN -- 0.6% Cementos Portland Valderrivas SA............................ 563 19,330 ---------- SWEDEN -- 0.7% Boliden AB Mines................ 2,867 6,453 SSAB Svenskt Stal AB ( Series A)............................ 1,965 16,897 ---------- TOTAL SWEDEN.................... 23,350 ---------- SWITZERLAND -- 6.4% Givaudan SA..................... 81 63,203 Holcim, Ltd. ................... 803 45,494 Syngenta AG..................... 399 75,125 Xstrata PLC..................... 2,265 20,842 ---------- TOTAL SWITZERLAND............... 204,664 ---------- UNITED KINGDOM -- 11.6% Anglo American PLC.............. 4,792 106,515 Antofagasta PLC................. 2,244 13,728 BHP Billiton PLC................ 7,799 145,097 Kazakhmys PLC................... 707 2,348 Lonmin PLC...................... 717 9,391 Randgold Resources, Ltd. ....... 492 20,853 Rio Tinto PLC................... 3,184 68,209 Vedanta Resources PLC........... 473 4,159 ---------- TOTAL UNITED KINGDOM............ 370,300 ---------- TOTAL COMMON STOCKS -- (Cost $6,224,759)............. 3,196,710 ---------- SHORT TERM INVESTMENTS -- 0.3% UNITED STATES -- 0.3% MONEY MARKET FUNDS -- 0.3% STIC Prime Portfolio (Cost $11,160)................ 11,160 11,160 ---------- TOTAL INVESTMENTS -- 100.1% (Cost $6,235,919)............. 3,207,870 ---------- OTHER ASSETS AND LIABILITIES -- (0.1)%......... (3,313) ---------- NET ASSETS -- 100.0%............ $3,204,557 ==========
(a) Non-income producing security. (b) Security is valued at fair value as determined in good faith by Trust's Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. ADR = American Depositary Receipt SPDR S&P INTERNATIONAL MATERIALS SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Metals & Mining....................... 55.5% Chemicals............................. 33.4 Construction Materials................ 7.5 Paper & Forest Products............... 3.2 Containers & Packaging................ 0.2 Short Term Investments................ 0.3 Other Assets & Liabilities............ (0.1) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SPDR S&P INTERNATIONAL TECHNOLOGY SECTOR ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- COMMON STOCKS -- 99.5% AUSTRALIA -- 1.1% Computershare, Ltd. ............ 3,814 $ 20,741 Iress Market Technology, Ltd. .. 4,705 16,894 ---------- TOTAL AUSTRALIA................. 37,635 ---------- BELGIUM -- 0.3% Barco NV........................ 425 10,575 ---------- CANADA -- 4.3% CGI Group, Inc. (Class A) (a)... 2,981 23,181 MacDonald Dettwiler & Associates, Ltd. (a).......... 533 9,412 Nortel Networks, Corp. (a)...... 3,725 966 Research In Motion, Ltd. (a).... 2,908 116,603 ---------- TOTAL CANADA.................... 150,162 ---------- CHINA -- 0.3% ASM Pacific Technology, Ltd. ... 2,700 8,849 ---------- DENMARK -- 0.4% SimCorp A/S..................... 116 12,803 ---------- FINLAND -- 10.9% F-Secure Oyj.................... 4,948 12,931 Nokia Oyj....................... 21,568 332,784 TietoEnator Oyj................. 1,092 11,794 Vaisala Oyj (Class A)........... 635 19,516 ---------- TOTAL FINLAND................... 377,025 ---------- FRANCE -- 3.6% Alcatel-Lucent (a).............. 14,888 31,725 Atos Origin SA.................. 576 14,344 Cap Gemini SA................... 982 37,538 Groupe Steria SCA............... 786 8,708 Neopost SA...................... 239 21,538 UbiSoft Entertainment SA (a).... 534 10,355 ---------- TOTAL FRANCE.................... 124,208 ---------- GERMANY -- 6.4% Infineon Technologies AG (a).... 5,387 7,189 SAP AG.......................... 4,862 170,582 Software AG..................... 304 16,903 United Internet AG.............. 1,378 12,048 Wincor Nixdorf AG............... 363 17,010 ---------- TOTAL GERMANY................... 223,732 ---------- JAPAN -- 46.1% Advantest Corp. ................ 1,600 25,240 Alps Electric Co., Ltd. ........ 2,000 9,597 Brother Industries, Ltd. ....... 1,900 11,046 Canon, Inc. .................... 6,600 201,677 Citizen Holdings Co., Ltd. ..... 2,400 8,472 CSK Holdings Corp. ............. 1,300 6,941 Dainippon Screen Manufacturing Co., Ltd. .................... 5,000 9,487 Elpida Memory, Inc. (a)......... 900 5,341 FUJIFILM Holdings Corp. ........ 2,200 47,325 Fujitsu, Ltd. .................. 12,000 56,790 Hirose Electric Co., Ltd. ...... 300 29,851 Hitachi High-Technologies Corp. ........................ 900 14,108 Hitachi, Ltd. .................. 17,000 64,699 Horiba, Ltd. ................... 700 9,552 Hoya Corp. ..................... 2,400 40,799 Ibiden Co., Ltd. ............... 1,000 20,055 IT Holdings Corp. (a)........... 1,000 15,279 Japan Aviation Electronics Industry, Ltd. ............... 2,000 8,207 Japan Digital Laboratory Co., Ltd. ......................... 1,700 17,966 Keyence Corp. .................. 200 40,154 Konami Corp. ................... 800 20,121 Konica Minolta Holdings, Inc. .. 3,000 22,570 Kyocera Corp. .................. 900 63,343 Mitsumi Electric Co., Ltd. ..... 1,000 16,900 Murata Manufacturing Co., Ltd. ......................... 1,300 50,050 NEC Corp. ...................... 13,000 42,592 Nichicon Corp. ................. 2,400 15,118 Nidec Corp. .................... 600 22,769 Nintendo Co., Ltd. ............. 600 223,387 Nippon Electric Glass Co., Ltd. ......................... 3,000 15,323 Nomura Research Institute, Ltd. ......................... 1,000 18,632 NTT Data Corp. ................. 10 39,493 OBIC Co., Ltd. ................. 130 20,923 Oki Electric Industry Co., Ltd. (a)........................... 12,000 7,546 OMRON Corp. .................... 1,400 18,517 Ricoh Co., Ltd. ................ 3,000 37,198 Rohm Co., Ltd. ................. 700 34,749 Seiko Epson Corp. .............. 1,000 15,488 Shimadzu Corp. ................. 2,000 12,289 SUMCO Corp. .................... 1,100 13,469 Taiyo Yuden Co., Ltd. .......... 2,000 11,031 TDK Corp. ...................... 800 28,682 Tokyo Electron, Ltd. ........... 1,000 34,197 Toshiba Corp. .................. 17,000 68,638 Trend Micro, Inc. .............. 500 17,044 Yahoo! Japan Corp. ............. 104 41,875 Yamatake Corp. ................. 700 16,641 Yaskawa Electric Corp. ......... 3,000 11,782 Yokogawa Electric Corp. ........ 2,600 16,693 ---------- TOTAL JAPAN..................... 1,599,646 ---------- NETHERLANDS -- 2.2% ASM International NV (a)........ 631 5,403 ASML Holding NV................. 2,624 46,506 Gemalto NV (a).................. 758 18,860 Oce NV.......................... 1,456 6,355 ---------- TOTAL NETHERLANDS............... 77,124 ---------- NORWAY -- 0.4% Tandberg ASA.................... 1,278 13,762 ---------- SINGAPORE -- 0.8% Flextronics International, Ltd. (a)........................... 5,628 14,408 Venture Corp., Ltd. ............ 4,000 12,160 ---------- TOTAL SINGAPORE................. 26,568 ---------- SOUTH KOREA -- 11.9% LG Display Co., Ltd. ADR (a).... 5,009 41,474 Samsung Electronics Co., Ltd. GDR (b)....................... 2,131 372,925 ---------- TOTAL SOUTH KOREA............... 414,399 ---------- SPAIN -- 1.4% Amper, SA....................... 1,605 9,928 Indra Sistemas, SA.............. 1,728 38,889 ---------- TOTAL SPAIN..................... 48,817 ---------- SWEDEN -- 4.0% Telefonaktiebolaget LM Ericsson (Class B)..................... 18,605 138,338 ---------- SWITZERLAND -- 1.8% Logitech International SA (a)... 1,221 18,779 STMicroelectronics NV........... 5,520 35,028 Temenos Group AG (a)............ 617 8,116 ---------- TOTAL SWITZERLAND............... 61,923 ---------- UNITED KINGDOM -- 3.6% ARM Holdings PLC................ 13,267 16,500 Autonomy Corp. PLC (a).......... 1,542 21,084
SPDR S&P INTERNATIONAL TECHNOLOGY SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- Aveva Group PLC................. 753 $ 6,171 Dimension Data Holdings PLC..... 22,332 12,281 Diploma PLC..................... 6,318 11,355 Logica PLC...................... 13,367 13,261 Misys PLC....................... 7,400 10,559 Spectris PLC.................... 1,427 10,976 The Sage Group PLC.............. 9,428 23,044 ---------- TOTAL UNITED KINGDOM............ 125,231 ---------- TOTAL COMMON STOCKS -- (Cost $5,541,505)............. 3,450,797 ---------- SHORT TERM INVESTMENTS -- 0.5% UNITED STATES -- 0.5% MONEY MARKET FUND -- 0.5% STIC Prime Portfolio (Cost $17,901)................ 17,901 17,901 ---------- TOTAL INVESTMENTS -- 100.0% (Cost $5,559,406)............. 3,468,698 OTHER ASSETS AND LIABILITIES -- 0.0% (c)....... 472 ---------- NET ASSETS -- 100.0%............ $3,469,170 ==========
(a) Non-income producing security. (b) Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities which represent 10.7% of net assets as of December 31, 2008, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. (c) Amount represents less than 0.05% of net assets. ADR = American Depositary Receipt GDR = Global Depositary Receipt SPDR S&P INTERNATIONAL TECHNOLOGY SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Electronic Equipment & Instruments.... 20.5% Communications Equipment.............. 18.6 Semiconductors & Semiconductor Equipment........................... 17.5 Software.............................. 16.2 Office Electronics.................... 8.6 IT Services........................... 8.6 Computers & Peripherals............... 7.9 Internet Software & Services.......... 1.6 Short Term Investments................ 0.5 Other Assets & Liabilities............ 0.0** ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. ** Amount represents less than 0.05% of net assets. SPDR S&P INTERNATIONAL TELECOMMUNICATIONS SECTOR ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------- ---------- COMMON STOCKS -- 98.8% AUSTRALIA -- 1.0% Telstra Corp., Ltd. ........... 16,298 $ 43,520 ---------- AUSTRIA -- 1.1% Telekom Austria AG............. 3,244 46,446 ---------- BELGIUM -- 2.2% Belgacom SA.................... 1,557 59,151 Mobistar SA.................... 294 21,104 Telenet Group Holding NV (a)... 854 14,601 ---------- TOTAL BELGIUM.................. 94,856 ---------- CANADA -- 6.2% BCE, Inc. ..................... 2,175 44,566 Bell Aliant Regional Communications Income Fund... 544 10,378 Rogers Communications, Inc. ... 5,168 155,453 Telus Corp. ................... 1,269 36,065 Telus Corp. (non -- voting).... 544 16,379 ---------- TOTAL CANADA................... 262,841 ---------- CHINA -- 0.6% Hutchison Telecommunications International, Ltd. ......... 20,000 5,368 PCCW, Ltd. .................... 40,000 19,096 ---------- TOTAL CHINA.................... 24,464 ---------- FINLAND -- 0.6% Elisa Oyj...................... 1,450 24,791 ---------- FRANCE -- 6.7% France Telecom SA.............. 10,346 287,054 ---------- GERMANY -- 6.4% Deutsche Telekom AG............ 18,220 272,262 ---------- ITALY -- 4.6% Telecom Italia SpA (b)......... 89,746 143,464 Telecom Italia SpA (b)......... 49,715 54,525 ---------- TOTAL ITALY.................... 197,989 ---------- JAPAN -- 16.2% KDDI Corp. .................... 24 168,119 Nippon Telegraph & Telephone Corp. ....................... 36 185,858 NTT DoCoMo, Inc. .............. 121 235,459 Softbank Corp. ................ 5,800 102,564 ---------- TOTAL JAPAN.................... 692,000 ---------- LUXEMBOURG -- 0.7% COLT Telecom Group SA (a)...... 5,970 5,751 Millicom International Cellular SA........................... 531 23,847 ---------- TOTAL LUXEMBOURG............... 29,598 ---------- NETHERLANDS -- 4.5% Koninklijke Royal KPN NV....... 13,422 193,662 ---------- NEW ZEALAND -- 0.3% Telecom Corporation of New Zealand, Ltd. ............... 8,244 11,032 ---------- NORWAY -- 1.0% Telenor ASA.................... 6,162 40,745 ---------- PORTUGAL -- 1.7% Portugal Telecom, SGPS SA...... 8,768 73,981 ---------- SINGAPORE -- 3.1% Singapore Telecommunications, Ltd. ........................ 69,000 122,124 StarHub, Ltd. ................. 7,000 9,426 ---------- TOTAL SINGAPORE................ 131,550 ---------- SOUTH KOREA -- 2.7% KT Corp. ADR (a)............... 3,377 49,540 SK Telecom Co., Ltd. ADR....... 3,538 64,321 ---------- TOTAL SOUTH KOREA.............. 113,861 ---------- SPAIN -- 14.8% Telefonica SA.................. 28,759 633,626 ---------- SWEDEN -- 2.9% Tele2 AB (Class B)............. 2,608 22,756 TeliaSonera AB................. 20,717 101,909 ---------- TOTAL SWEDEN................... 124,665 ---------- SWITZERLAND -- 1.5% Swisscom AG.................... 205 65,390 ---------- UNITED KINGDOM -- 20.0% BT Group PLC................... 68,874 133,880 Cable & Wireless PLC........... 21,211 47,726 Inmarsat PLC................... 4,056 27,496 Vodafone Group PLC............. 323,667 646,840 ---------- TOTAL UNITED KINGDOM........... 855,942 ---------- TOTAL COMMON STOCKS -- (Cost $5,295,987)............ 4,220,275 ---------- SHORT TERM INVESTMENTS -- 1.2% UNITED STATES -- 1.2% MONEY MARKET FUNDS -- 1.2% STIC Prime Portfolio (Cost $51,458)............... 51,458 51,458 ---------- TOTAL INVESTMENTS -- 100.0% (Cost $5,347,445)............ 4,271,733 OTHER ASSETS AND LIABILITIES -- 0.0% (c)...... 645 ---------- NET ASSETS -- 100.0%........... $4,272,378 ==========
(a) Non-income producing security. (b) Reflects seperate holdings of the issuer's common stock traded on different securities exchanges. (c) Amount shown represents less than 0.05% of net assets. ADR = American Depositary Receipt SPDR S&P INTERNATIONAL TELECOMMUNICATIONS SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Diversified Telecommunication Services............................ 65.3% Wireless Telecommunication Services... 33.5 Short Term Investments................ 1.2 Other Assets & Liabilities............ 0.0** ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. ** Amount shown represents less than 0.05% of net assets. SPDR S&P INTERNATIONAL UTILITIES SECTOR ETF SCHEDULE OF INVESTMENTS DECEMBER 31, 2008 (UNAUDITED) - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ---------- COMMON STOCKS -- 99.9% AUSTRALIA -- 1.8% AGL Energy, Ltd. ............... 3,871 $ 41,185 APA Group....................... 10,059 21,039 Envestra, Ltd. ................. 76,446 19,454 ---------- TOTAL AUSTRALIA................. 81,678 ---------- AUSTRIA -- 0.6% Oesterreichische Elektrizitaetswirtschafts AG.. 611 27,654 ---------- CANADA -- 2.0% ATCO, Ltd. ..................... 733 22,563 Fortis, Inc. ................... 1,605 31,970 TransAlta Corp. ................ 1,716 33,778 ---------- TOTAL CANADA.................... 88,311 ---------- CHINA -- 4.6% CLP Holdings, Ltd. ............. 12,000 81,443 Hong Kong & China Gas Co., Ltd. ......................... 35,000 52,837 HongKong Electric Holdings, Ltd. ......................... 12,500 70,160 ---------- TOTAL CHINA..................... 204,440 ---------- FINLAND -- 1.4% Fortum Oyj...................... 2,890 61,183 ---------- FRANCE -- 14.2% Electricite de France........... 1,582 91,261 GDF Suez........................ 9,295 456,417 Sechilienne SA.................. 298 13,255 Veolia Environnement............ 2,570 79,308 ---------- TOTAL FRANCE.................... 640,241 ---------- GERMANY -- 18.0% E.ON AG......................... 13,355 527,963 RWE AG.......................... 3,190 282,462 ---------- TOTAL GERMANY................... 810,425 ---------- ITALY -- 6.5% A2A SpA......................... 13,174 23,275 Enel SpA........................ 28,171 177,097 Hera SpA........................ 7,165 15,238 Snam Rete Gas SpA............... 7,082 38,984 Terna -- Rete Elettrica Nationale SpA................. 11,081 35,966 ---------- TOTAL ITALY..................... 290,560 ---------- JAPAN -- 22.2% Chubu Electric Power Co., Inc. ......................... 4,400 132,752 Electric Power Development Co., Ltd. ......................... 1,300 50,336 Hokuriku Electric Power Co. .... 1,394 39,213 Kyushu Electric Power Co., Inc. ......................... 3,300 87,005 Osaka Gas Co., Ltd. ............ 16,000 73,072 The Chugoku Electric Power Co., Inc. ......................... 1,992 52,080 The Kansai Electric Power Co., Inc. ......................... 4,912 140,885 The Tokyo Electric Power Co., Inc. ......................... 7,419 245,527 Tohoku Electric Power Co., Inc. ......................... 3,280 88,106 Tokyo Gas Co., Ltd. ............ 18,000 90,348 ---------- TOTAL JAPAN..................... 999,324 ---------- PORTUGAL -- 1.1% EDP -- Energias de Portugal SA.. 13,590 50,911 ---------- SPAIN -- 13.4% EDP Renovaveis SA (a)........... 3,426 23,826 Enagas.......................... 2,081 45,010 Gas Natural SDG SA.............. 2,378 63,764 Iberdrola Renovables (a)........ 5,892 24,980 Iberdrola SA.................... 33,597 305,428 Red Electrica Corporacion SA.... 886 44,337 Union Fenosa SA................. 3,887 95,797 ---------- TOTAL SPAIN..................... 603,142 ---------- UNITED KINGDOM -- 14.1% British Energy Group PLC........ 6,985 77,680 Centrica PLC.................... 34,828 133,197 Drax Group PLC.................. 2,592 20,906 International Power PLC......... 10,584 36,559 National Grid PLC............... 16,713 164,359 Pennon Group PLC................ 2,986 21,369 Scottish & Southern Energy PLC.. 5,854 102,430 Severn Trent PLC................ 1,877 32,330 United Utilities Group PLC...... 4,734 42,642 ---------- TOTAL UNITED KINGDOM............ 631,472 ---------- TOTAL COMMON STOCKS -- (Cost $5,896,923)................... 4,489,341 ---------- RIGHTS -- 0.0% (b) AUSTRALIA -- 0.0% (b) Envestra, Ltd. (expiring 2/6/09) (a) (Cost $--)................ 30,578 1,386 ---------- SHORT TERM INVESTMENTS -- 0.2% UNITED STATES -- 0.2% MONEY MARKET FUNDS -- 0.2% ---------- STIC Prime Portfolio (Cost $6,596)................. 6,596 6,596 ---------- TOTAL INVESTMENTS -- 100.1% (Cost $5,903,519)............. 4,497,323 OTHER ASSETS AND LIABILITIES -- (0.1)%......... (4,105) ---------- NET ASSETS -- 100.0%............ $4,493,218 ==========
(a) Non-income producing security. (b) Amount shown represents less than 0.05% of net assets. SPDR S&P INTERNATIONAL UTILITIES SECTOR ETF SCHEDULE OF INVESTMENTS (CONTINUED) DECEMBER 31, 2008 (UNAUDITED) - -------------------------------------------------------------------------------- INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2008*
PERCENT OF INDUSTRY NET ASSETS - -------- ---------- Electric Utilities.................... 57.1% Multi-Utilities....................... 28.1 Gas Utilities......................... 9.0 Independent Power Producers & Energy Traders............................. 4.5 Water Utilities....................... 1.2 Short Term Investments................ 0.2 Other Assets & Liabilities............ (0.1) ----- TOTAL................................. 100.0% =====
* The Fund's industry breakdown is expressed as a percentage of net assets and may change over time. SECURITIES VALUATION The value of each Fund's portfolio securities, including exchange-traded futures contracts, is generally based on the securities' last sale price on local markets when available. Investments in open-end investment companies are valued at their net asset value each business day. If a security's market price is not readily available or does not otherwise accurately reflect the fair value of the security, the security will be valued by another method that the Board of Trustees (the "Board") believes will better reflect fair value in accordance with the Trust's valuation policies and procedures. The Board has delegated the process of valuing securities for which market quotations are not readily available or do not otherwise accurately reflect the fair value of the security to the Pricing and Investment Committee (the "Committee"). The Committee, subject to oversight by the Board, may use fair value pricing in a variety of circumstances, including but not limited to, situations when the value of a security in a Fund's portfolio has been materially affected by events occurring after the close of the market on which the security is principally traded (such as in the case of a corporate action or other news that may materially affect the price of a security) or trading in a security has been suspended or halted. Accordingly, a Fund's net asset value may reflect certain portfolio securities' fair values rather than their market prices. Effective October 1, 2008, the Funds adopted Financial Accounting Standards Board ("FASB") Statement of Financial Accounting Standards No. 157 ("FAS 157"), "Fair Value Measurements." This standard defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosure about fair value measurements. Various inputs are used in determining the value of the Funds' investments. These inputs are summarized in the three broad levels listed below. - - Level 1 -- quoted prices in active markets for identical investments - - Level 2 -- other significant observable inputs (including, but not limited to, quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) - - Level 3 -- significant unobservable inputs (including the Funds' own assumptions in determining the fair value of investments) Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets on which the security is traded but before the time as of which the Funds' net assets are computed and that may materially affect the value of the Funds' investments). Examples of events that may be "significant events" are government actions, natural disasters, armed conflict, acts of terrorism, and significant market fluctuations. Fair value pricing could result in a difference between the prices used to calculate a Fund's net asset value and the prices used by the Fund's benchmark index, which, in turn, could result in a difference between the Fund's performance and the performance of the Fund's benchmark index. The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments. The following table summarizes the inputs used in valuing the Funds' investments, as of December 31, 2008:
Level 2 - Level 3 - Level 1- Other Significant Significant Quoted Observable Unobservable SPDR Index Shares Funds Prices Inputs Inputs Total - ----------------------- ------------ ----------------- ------------- ---------------- SPDR DJ STOXX 50 ETF $ 52,875,624 $ - $ - $ 52,875,624 SPDR DJ EURO STOXX 50 ETF 145,944,480 - -* 145,944,480 SPDR S&P Emerging Asia Pacific ETF 149,489,676 482,107 - 149,971,783 SPDR S&P China ETF 138,242,806 - - 138,242,806 SPDR S&P Emerging Markets ETF 51,098,389 57,818 - 51,156,207 SPDR S&P BRIC 40 ETF 138,696,407 - - 138,696,407 SPDR S&P Emerging Europe ETF 36,143,091 118 - 36,143,209 SPDR S&P Emerging Latin America ETF 57,495,413 - - 57,495,413 SPDR S&P Emerging Middle East & Africa ETF 105,975,696 - - 105,975,696 SPDR S&P World ex-US ETF 58,823,073 20,849 -* 58,843,922 SPDR S&P International Small Cap ETF 401,767,818 - -* 401,767,818 SPDR DJ Wilshire International Real Estate ETF 652,665,301 - -* 652,665,301 SPDR FTSE/Macquarie Global Infrastructure 100 ETF 84,498,648 - - 84,498,648 SPDR MSCI ACWI ex-US ETF 311,681,869 69,728 -* 311,751,597 SPDR Russell/Nomura PRIME Japan ETF 16,208,580 - 16 16,208,596 SPDR Russell/Nomura Small Cap Japan ETF 92,313,546 - -* 92,313,546 SPDR S&P International Dividend ETF 32,127,639 - - 32,127,639 SPDR S&P International Mid Cap ETF 9,445,563 117 -* 9,445,680 SPDR S&P Emerging Markets Small Cap ETF 7,286,163 3,013 - 7,289,176 SPDR DJ Wilshire Global Real Estate ETF 29,867,327 - -* 29,867,327 SPDR S&P International Consumer Discretionary Sector ETF 3,548,904 - -* 3,548,904 SPDR S&P International Consumer Staples Sector ETF 4,469,240 - - 4,469,240 SPDR S&P International Energy Sector ETF 3,968,517 - - 3,968,517 SPDR S&P International Financial Sector ETF 2,975,536 - -* 2,975,536 SPDR S&P International Health Care Sector ETF 5,097,273 - - 5,097,273 SPDR S&P International Industrial Sector ETF 3,551,268 - - 3,551,268 SPDR S&P International Materials Sector ETF 3,201,661 6,209 - 3,207,870 SPDR S&P International Technology Sector ETF 3,468,698 - - 3,468,698 SPDR S&P International Telecommunications Sector ETF 4,271,733 - - 4,271,733 SPDR S&P International Utilities Sector ETF 4,497,323 - - 4,497,323
* Funds held Level 3 securities that were valued at $0 at December 31, 2008.
Level 2 - Level 3 - Level 1- Other Significant Significant Quoted Observable Unobservable SPDR Index Shares Funds - Other Financial Instruments * Prices Inputs Inputs Total - ------------------------------------------------------- ------------ ----------------- ------------- ---------------- SPDR S&P Emerging Asia Pacific ETF $ - $ 68,065 $ - $ 68,065 SPDR S&P Emerging Markets ETF - 61,755 - 61,755
* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards, and swap contracts, which are valued at the unrealized appreciation/depreciation on the instrument. The following table provides the reconciliation of investments in which significant unobservable inputs for the (Level 3) were used in determining fair value at December 31, 2008:
Net Change in Realized Unrealized Gain (Loss) Appreciation/ Accrued and Change Net (Depreciation) Balance Discounts in Unrealized Net Transfers Balance from Investments at (Amortized Appreciation/ Purchases/ in and/ at Still Held SPDR Index Shares Funds - Level 3 Securities 9/30/08 Premiums) (Depreciation) (Sales) or out 12/31/08 at 12/31/08 - ----------------------------------------------------------------------------------------------------------------------------------- SPDR DJ EURO STOXX 50 ETF* $ - $ - $ - $ - $ - $ - $ - SPDR S&P World ex-US ETF* - - - - - - SPDR S&P International Small Cap ETF* - - - - - - - SPDR DJ Wilshire International Real Estate ETF* - - - - - - - SPDR MSCI ACWI ex-US ETF* - - - - - - - SPDR Russell/Nomura PRIME Japan ETF - - 2 - 14 16 - SPDR Russell/Nomura Small Cap Japan ETF* - - - - - - - SPDR S&P International Mid Cap ETF* - - - - - - - SPDR DJ Wilshire Global Real Estate ETF* - - - - - - - SPDR S&P International Consumer Discretionary Sector ETF* - - - - - - - SPDR S&P International Financial Sector ETF* - - - - - - -
* Funds held Level 3 securities that were valued at $0 at December 31, 2008. In March 2008, the Financial Accounting Standards Board ("FASB") issued Statement of Financial Accounting Standards No. 161, "Disclosures about Derivative Instruments and Hedging Activities" ("SFAS 161"). SFAS 161 is effective for fiscal years and interim periods beginning after November 15, 2008. SFAS 161 requires enhanced disclosures about Funds' derivative and hedging activities. Management is currently evaluating the impact, if any, the adoption of SFAS 161 will have on the Funds' financial statement disclosures. TRANSACTIONS WITH AFFILIATES Each Fund invests its cash collateral for securities lending, if any, in the shares of the State Street Navigator Securities Lending Prime Portfolio, an affiliated fund managed by SSgA Funds Management, Inc., each Fund's investment adviser. Amounts relating to these investments at December 31, 2008 and for the period then ended are:
Shares Purchased Shares Sold Income Earned Number of shares for the Three for the Three Number of for the Three Security held at Months Ended Months Ended Shares Held Months Ended Description 9/30/08 12/31/08 12/31/08 at 12/31/08 12/31/08 - -------------------------------------------------------- ---------------- ---------------- ------------- ----------- -------------- SPDR DJ STOXX 50 ETF 1,426,057 6,638,000 8,038,662 25,395 $ 8,111 SPDR DJ EURO STOXX 50 ETF 5,351,935 51,730,813 53,877,169 3,205,579 56,480 SPDR S&P Emerging Asia Pacific ETF 6,821,576 23,678,730 24,094,883 6,405,423 19,825 SPDR S&P China ETF 3,900,607 9,668,715 11,038,632 2,530,690 15,263 SPDR S&P Emerging Markets ETF 2,859,970 8,775,875 7,798,659 3,837,186 12,009 SPDR S&P BRIC 40 ETF 14,901,275 30,992,191 35,464,432 10,429,034 38,687 SPDR S&P Emerging Europe ETF 3,774,091 7,150,884 8,845,137 2,079,838 10,835 SPDR S&P Emerging Latin America ETF 8,828,249 29,974,505 29,439,449 9,363,305 38,201 SPDR S&P Emerging Middle East & Africa ETF 1,202,100 6,699,913 6,731,428 1,170,585 5,103 SPDR S&P World ex-US ETF 2,150,629 5,550,841 2,910,831 4,790,639 15,608 SPDR S&P International Small Cap ETF 48,309,606 40,782,225 35,986,960 53,104,871 268,168 SPDR DJ Wilshire International Real Estate ETF 122,547,301 161,023,003 161,469,713 122,100,591 516,794 SPDR FTSE/Macquarie Global Infrastructure 100 ETF 15,292,308 39,452,962 40,638,012 14,107,258 49,212 SPDR MSCI ACWI ex-US ETF 28,071,322 34,196,074 33,991,446 28,275,950 107,139 SPDR Russell/Nomura PRIME Japan ETF 5,538,108 3,833,100 7,296,495 2,074,713 10,587 SPDR Russell/Nomura Small Cap Japan ETF 20,878,980 16,642,964 19,684,683 17,837,261 103,755 SPDR S&P International Dividend ETF 4,529,771 5,617,569 5,596,930 4,550,410 32,896 SPDR S&P International Mid Cap ETF 479,486 1,286,740 450,093 1,316,133 3,101 SPDR S&P Emerging Markets Small Cap ETF 20,014 97,650 95,109 22,555 247 SPDR DJ Wilshire Global Real Estate ETF 499,627 3,103,094 1,668,862 1,933,859 6,464 SPDR S&P International Consumer Discretionary Sector ETF - - - - - SPDR S&P International Consumer Staples Sector ETF - - - - - SPDR S&P International Energy Sector ETF - - - - - SPDR S&P International Financial Sector ETF - - - - - SPDR S&P International Health Care Sector ETF - - - - - SPDR S&P International Industrial Sector ETF - - - - - SPDR S&P International Materials Sector ETF - - - - - SPDR S&P International Technology Sector ETF - - - - - SPDR S&P International Telecommunications Sector ETF - - - - - SPDR S&P International Utilities Sector ETF - - - - -
AGGREGATE UNREALIZED APPRECIATION AND DEPRECIATION The identified cost of investments in securities owned by each Fund for federal income tax purposes was substantially the same cost for financial reporting purposes. Accordingly, gross unrealized appreciation and depreciation at December 31, 2008 were as follows:
GROSS GROSS NET UNREALIZED IDENTIFIED UNREALIZED UNREALIZED APPRECIATION COST APPRECIATION DEPRECIATION (DEPRECIATION) ------------- ------------ ------------ -------------- SPDR DJ STOXX 50 ETF 91,340,114 46 38,464,536 (38,464,490) SPDR DJ EURO STOXX 50 ETF 259,678,787 180 113,734,487 (113,734,307) SPDR S&P Emerging Asia Pacific ETF 230,736,150 609,364 81,373,731 (80,764,367) SPDR S&P China ETF 214,867,744 636,013 77,260,951 (76,624,938) SPDR S&P Emerging Markets ETF 72,993,368 123,882 21,961,043 (21,837,161) SPDR S&P BRIC 40 ETF 266,976,036 74,361 128,353,990 (128,279,629) SPDR S&P Emerging Europe ETF 86,754,902 49,258 50,660,951 (50,611,693) SPDR S&P Emerging Latin America ETF 107,011,848 21,645 49,538,080 (49,516,435) SPDR S&P Emerging Middle East & Africa ETF 160,558,627 464,796 55,047,727 (54,582,931) SPDR S&P World ex-US ETF 69,802,163 548,103 11,506,344 (10,958,241) SPDR S&P International Small Cap ETF 585,187,732 7,714,418 191,134,332 (183,419,914) SPDR DJ Wilshire International Real Estate ETF 1,305,462,297 195,638 652,992,634 (652,796,996) SPDR FTSE/Macquarie Global Infrastructure 100 ETF 110,770,916 1,422,159 27,694,427 (26,272,268) SPDR MSCI ACWI ex-US ETF 446,172,457 1,553,379 135,974,239 (134,420,860) SPDR Russell/Nomura PRIME Japan ETF 21,837,628 680,953 6,309,985 (5,629,032) SPDR Russell/Nomura Small Cap Japan ETF 119,627,779 4,151,496 31,465,729 (27,314,233) SPDR S&P International Dividend ETF 52,526,763 136 20,399,260 (20,399,124) SPDR S&P International Mid Cap ETF 11,830,729 111,463 2,496,512 (2,385,049) SPDR S&P Emerging Markets Small Cap ETF 11,071,304 127,355 3,909,483 (3,782,128) SPDR DJ Wilshire Global Real Estate ETF 37,134,339 67,335 7,334,347 (7,267,012) SPDR S&P International Consumer Discretionary Sector ETF 5,142,443 54,845 1,648,384 (1,593,539) SPDR S&P International Consumer Staples Sector ETF 5,502,002 70,713 1,103,475 (1,032,762) SPDR S&P International Energy Sector ETF 6,304,211 6,660 2,342,354 (2,335,694) SPDR S&P International Financial Sector ETF 4,867,951 6,504 1,898,919 (1,892,415) SPDR S&P International Health Care Sector ETF 6,144,973 69,755 1,117,455 (1,047,700) SPDR S&P International Industrial Sector ETF 5,508,670 34,156 1,991,558 (1,957,402) SPDR S&P International Materials Sector ETF 6,235,919 9,003 3,037,052 (3,028,049) SPDR S&P International Technology Sector ETF 5,559,406 7,027 2,097,735 (2,090,708) SPDR S&P International Telecommunications Sector ETF 5,347,445 93,269 1,168,981 (1,075,712) SPDR S&P International Utilities Sector ETF 5,903,519 227,557 1,633,753 (1,406,196)
Other information regarding the Funds is available in the Funds' most recent Report to Shareholders. This information is also available on the Fund's website at www.SPDRs.com as well as on the website of the Securities and Exchange Commission at www.sec.gov. ITEM 2. CONTROLS AND PROCEDURES. (a) The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended ("Investment Company Act") are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document. (b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. SPDR(R) Index Shares Funds By: /s/ James E. Ross ----------------------------- James E. Ross President By: /s/ Gary L. French ----------------------------- Gary L. French Treasurer Date: February 20, 2009 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. By: /s/ James E. Ross ----------------------------- James E. Ross President By: /s/ Gary L. French ----------------------------- Gary L. French Treasurer Date: February 20, 2009 EX-99.CERT 2 b73769a1exv99wcert.txt EX-99.CERT CERTIFICATIONS CERTIFICATIONS I, James E. Ross, certify that: 1. I have reviewed this report on Form N-Q of the SPDR(R) Index Shares Funds; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. /s/ James E. Ross - ----------------- James E. Ross President Date: February 20, 2009 I, Gary L. French, certify that: 1. I have reviewed this report on Form N-Q of the SPDR(R) Index Shares Funds; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. /s/ Gary L. French - ---------------- Gary L. French Treasurer Date: February 20, 2009 -----END PRIVACY-ENHANCED MESSAGE-----