NPORT-EX 3 NPORT_ZW40_44273248_0323.htm
Quarterly Report
March 31, 2023
State Street Variable Insurance Series Funds, Inc.


State Street U.S. Equity V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Common Stock - 99.3% †
Aerospace & Defense - 0.7%
Raytheon Technologies Corp. 1,470   $143,957
Apparel Retail - 1.0%
Ross Stores, Inc. 1,838   195,067
Application Software - 2.7%
Adobe, Inc. (a) 321   123,704
Intuit, Inc. 139   61,971
Salesforce, Inc. (a) 1,558   311,257
Splunk, Inc. (a) 381   36,530
      533,462
Automobile Manufacturers - 0.9%
General Motors Co. 2,472   90,673
Tesla, Inc. (a) 455   94,394
      185,067
Automotive Parts & Equipment - 0.4%
Magna International, Inc. 1,346   72,105
Automotive Retail - 0.9%
O'Reilly Automotive, Inc. (a) 205   174,041
Biotechnology - 2.1%
BioMarin Pharmaceutical, Inc. (a) 1,945   189,132
Vertex Pharmaceuticals, Inc. (a) 689   217,083
      406,215
Broadline Retail - 3.7%
Amazon.com, Inc. (a) 7,085   731,810
Building Products - 0.6%
Trane Technologies PLC 688   126,578
Cable & Satellite - 0.4%
Charter Communications, Inc., Class A (a) 99   35,404
Comcast Corp., Class A 1,110   42,080
      77,484
Communications Equipment - 0.2%
Cisco Systems, Inc. 606   31,679
Construction Materials - 0.5%
Martin Marietta Materials, Inc. 273   96,931
Consumer Staples Merchandise Retail - 2.0%
Costco Wholesale Corp. 504   250,422
Walmart, Inc. 977   144,059
      394,481
Diversified Banks - 1.1%
JPMorgan Chase & Co. 1,659   216,184
Diversified Support Services - 0.5%
Cintas Corp. 218   100,864
Electric Utilities - 1.8%
American Electric Power Co., Inc. 794   72,246
NextEra Energy, Inc. 3,597   277,257
      349,503
Electrical Components & Equipment - 1.1%
Eaton Corp. PLC 1,320   226,169
  Number
of Shares
  Fair
Value
Electronic Components - 1.0%
Amphenol Corp., Class A 2,352   $192,205
Environmental & Facilities Services - 1.2%
Waste Management, Inc. 1,493   243,613
Financial Exchanges & Data - 3.5%
CME Group, Inc. 1,209   231,548
MSCI, Inc. 218   122,012
S&P Global, Inc. 996   343,391
      696,951
Footwear - 0.7%
NIKE, Inc., Class B 1,054   129,263
Healthcare Equipment - 3.8%
Becton Dickinson & Co. 423   104,709
Boston Scientific Corp. (a) 3,415   170,852
Edwards Lifesciences Corp. (a) 1,335   110,445
Medtronic PLC 1,556   125,445
Teleflex, Inc. 930   235,578
      747,029
Home Improvement Retail - 0.8%
Home Depot, Inc. 207   61,090
Lowe's Cos., Inc. 484   96,785
      157,875
Hotels, Resorts & Cruise Lines - 0.4%
Marriott International, Inc., Class A 431   71,563
Household Products - 1.3%
Colgate-Palmolive Co. 943   70,867
Procter & Gamble Co. 1,296   192,702
      263,569
Industrial Conglomerates - 0.7%
Honeywell International, Inc. 746   142,576
Industrial Gases - 1.7%
Linde PLC 915   325,228
Industrial Machinery & Supplies & Components - 1.5%
Parker-Hannifin Corp. 862   289,727
Insurance Brokers - 0.3%
Marsh & McLennan Cos., Inc. 381   63,456
Integrated Oil & Gas - 1.0%
Chevron Corp. 1,249   203,787
Interactive Home Entertainment - 0.3%
Activision Blizzard, Inc. 601   51,440
Interactive Media & Services - 6.9%
Alphabet, Inc., Class C (a) 1,047   108,888
Alphabet, Inc., Class A (a) 7,815   810,650
Meta Platforms, Inc., Class A (a) 2,100   445,074
      1,364,612
Investment Banking & Brokerage - 0.3%
Charles Schwab Corp. 1,098   57,513
IT Consulting & Other Services - 0.4%
Accenture PLC, Class A 283   80,884
 
See Notes to Schedule of Investments.
State Street U.S. Equity V.I.S. Fund 1

State Street U.S. Equity V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Life Sciences Tools & Services - 1.4%
Danaher Corp. 381   $96,027
IQVIA Holdings, Inc. (a) 935   185,962
      281,989
Managed Healthcare - 2.8%
Humana, Inc. 221   107,286
UnitedHealth Group, Inc. 947   447,543
      554,829
Movies & Entertainment - 1.0%
Walt Disney Co. (a) 2,022   202,463
Multi-Line Insurance - 0.2%
American International Group, Inc. 879   44,266
Multi-Sector Holdings - 1.4%
Berkshire Hathaway, Inc., Class B (a) 866   267,395
Multi-Utilities - 0.8%
Sempra Energy 1,025   154,939
Oil & Gas Equipment & Services - 0.9%
Schlumberger NV 3,456   169,690
Oil & Gas Exploration & Production - 2.5%
ConocoPhillips 2,787   276,498
Pioneer Natural Resources Co. 1,096   223,847
      500,345
Packaged Foods & Meats - 0.8%
Mondelez International, Inc., Class A 2,129   148,434
Personal Care Products - 0.4%
Estee Lauder Cos., Inc., Class A 301   74,184
Pharmaceuticals - 5.3%
AstraZeneca PLC ADR 1,453   100,853
Bristol-Myers Squibb Co. 1,757   121,778
Elanco Animal Health, Inc. (a) 1,493   14,034
Johnson & Johnson 2,584   400,520
Merck & Co., Inc. 3,708   394,494
      1,031,679
Property & Casualty Insurance - 1.2%
Chubb Ltd. 1,215   235,929
Rail Transportation - 0.4%
Union Pacific Corp. 403   81,108
Restaurants - 0.7%
McDonald's Corp. 480   134,213
Semiconductor Materials & Equipment - 2.1%
Applied Materials, Inc. 2,717   333,729
ASML Holding NV 104   70,794
      404,523
Semiconductors - 6.1%
Advanced Micro Devices, Inc. (a) 3,851   377,437
NVIDIA Corp. 1,137   315,824
QUALCOMM, Inc. 2,924   373,044
  Number
of Shares
  Fair
Value
Texas Instruments, Inc. 680   $126,487
      1,192,792
Soft Drinks & Non-alcoholic Beverages - 1.3%
Monster Beverage Corp. (a) 1,322   71,401
PepsiCo, Inc. 987   179,930
      251,331
Specialty Chemicals - 0.6%
DuPont de Nemours, Inc. 646   46,363
Ecolab, Inc. 262   43,369
International Flavors & Fragrances, Inc. 353   32,462
      122,194
Systems Software - 8.2%
Microsoft Corp. 4,766   1,374,038
Oracle Corp. 1,289   119,774
ServiceNow, Inc. (a) 244   113,391
      1,607,203
Technology Hardware, Storage & Peripherals - 6.0%
Apple, Inc. 7,179   1,183,817
Telecom Tower REITs - 1.4%
American Tower Corp. 1,318   269,320
Trading Companies & Distributors - 1.6%
United Rentals, Inc. 703   278,219
WW Grainger, Inc. 51   35,130
      313,349
Transaction & Payment Processing Services - 5.0%
Fidelity National Information Services, Inc. 1,804   98,011
Mastercard, Inc., Class A 1,068   388,122
Visa, Inc., Class A 2,167   488,572
      974,705
Wireless Telecommunication Services - 0.8%
T-Mobile U.S., Inc. (a) 1,086   157,296
Total Common Stock
(Cost $12,925,865)
    19,500,881
Short-Term Investments - 2.3%
State Street Institutional U.S. Government Money Market Fund - Class G Shares 4.74% (b)(c)
(Cost $458,566)
458,566   458,566
Total Investments
(Cost $13,384,431)
    19,959,447
Liabilities in Excess of Other Assets, net - (1.6)%     (321,016)
NET ASSETS - 100.0%     $19,638,431
The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice. The securities cited may not be representative of the Fund’s future investments and should not be construed as a recommendation to purchase or sell a particular security. See the Fund’s summary prospectus and statutory prospectus for complete descriptions of investment objectives, policies, risks and permissible investments.
(a) Non-income producing security.
 
See Notes to Schedule of Investments.
2 State Street U.S. Equity V.I.S. Fund

State Street U.S. Equity V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
(b) Sponsored by SSGA Funds Management, Inc., the Fund’s investment adviser and administrator, and an affiliate of State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent.
(c) Coupon amount represents effective yield.
Percentages are based on net assets as of March 31, 2023.
    
Abbreviations:
ADR - American Depositary Receipt
REIT - Real Estate Investment Trust
 
The following table presents the Fund’s investments measured at fair value on a recurring basis at March 31, 2023:
Investments Level 1   Level 2   Level 3   Total
Investments in Securities              
Common Stock $19,500,881   $—   $—   $19,500,881
Short-Term Investments 458,566       458,566
Total Investments in Securities $19,959,447   $—   $—   $19,959,447
    
Affiliate Table
    
  Number
of Shares
Held at
12/31/22
  Value at
12/31/22
  Cost of
Purchases
  Proceeds
from
Shares
Sold
  Realized
Gain
(Loss)
  Change in
Unrealized
Appreciation
(Depreciation)
  Number of
Shares
Held at
3/31/23
  Value at
3/31/23
  Dividend
Income
State Street Institutional U.S. Government Money Market Fund - Class G Shares 374,873   $374,873   $1,689,832   $1,606,139   $—   $—   458,566   $458,566   $6,237
See Notes to Schedule of Investments.
State Street U.S. Equity V.I.S. Fund 3

State Street S&P 500 Index V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Common Stock - 99.3% †
Advertising - 0.1%
Interpublic Group of Cos., Inc. 1,662   $61,893
Omnicom Group, Inc. 814   76,793
      138,686
Aerospace & Defense - 1.7%
Boeing Co. (a) 2,418   513,656
General Dynamics Corp. 999   227,982
Howmet Aerospace, Inc. 1,436   60,843
Huntington Ingalls Industries, Inc. 200   41,404
L3Harris Technologies, Inc. 842   165,234
Lockheed Martin Corp. 984   465,166
Northrop Grumman Corp. 645   297,809
Raytheon Technologies Corp. 6,357   622,541
Textron, Inc. 1,023   72,255
TransDigm Group, Inc. 217   159,940
      2,626,830
Agricultural & Farm Machinery - 0.3%
Deere & Co. 1,171   483,482
Agricultural Products & Services - 0.2%
Archer-Daniels-Midland Co. 2,487   198,114
Bunge Ltd. 700   66,864
      264,978
Air Freight & Logistics - 0.7%
CH Robinson Worldwide, Inc. 552   54,852
Expeditors International of Washington, Inc. 713   78,516
FedEx Corp. 1,036   236,716
United Parcel Service, Inc., Class B 3,156   612,232
      982,316
Apparel Retail - 0.4%
Ross Stores, Inc. 1,479   156,966
TJX Cos., Inc. 5,014   392,897
      549,863
Apparel, Accessories & Luxury Goods - 0.1%
Ralph Lauren Corp. 170   19,834
Tapestry, Inc. 1,189   51,258
VF Corp. 1,441   33,013
      104,105
Application Software - 2.4%
Adobe, Inc. (a) 1,989   766,501
ANSYS, Inc. (a) 358   119,142
Autodesk, Inc. (a) 963   200,458
Cadence Design Systems, Inc. (a) 1,224   257,150
Ceridian HCM Holding, Inc. (a) 666   48,765
Fair Isaac Corp. (a) 100   70,269
Intuit, Inc. 1,216   542,129
Paycom Software, Inc. (a) 203   61,714
PTC, Inc. (a) 500   64,115
Roper Technologies, Inc. 480   211,531
Salesforce, Inc. (a) 4,389   876,835
Synopsys, Inc. (a) 682   263,423
Tyler Technologies, Inc. (a) 200   70,928
      3,552,960
  Number
of Shares
  Fair
Value
Asset Management & Custody Banks - 0.7%
Ameriprise Financial, Inc. 475   $145,587
Bank of New York Mellon Corp. 3,217   146,180
BlackRock, Inc. 657   439,612
Franklin Resources, Inc. 1,491   40,168
Invesco Ltd. 1,674   27,454
Northern Trust Corp. 920   81,080
State Street Corp. (b) 1,468   111,113
T Rowe Price Group, Inc. 928   104,771
      1,095,965
Automobile Manufacturers - 1.9%
Ford Motor Co. 17,533   220,916
General Motors Co. 6,122   224,555
Tesla, Inc. (a) 11,783   2,444,501
      2,889,972
Automotive Parts & Equipment - 0.1%
Aptiv PLC (a) 1,165   130,701
BorgWarner, Inc. 863   42,382
      173,083
Automotive Retail - 0.4%
Advance Auto Parts, Inc. 304   36,969
AutoZone, Inc. (a) 85   208,943
CarMax, Inc. (a) 678   43,582
O'Reilly Automotive, Inc. (a) 279   236,865
      526,359
Biotechnology - 2.3%
AbbVie, Inc. 7,745   1,234,321
Amgen, Inc. 2,306   557,476
Biogen, Inc. (a) 657   182,666
Gilead Sciences, Inc. 5,394   447,540
Incyte Corp. (a) 768   55,503
Moderna, Inc. (a) 1,415   217,316
Regeneron Pharmaceuticals, Inc. (a) 466   382,898
Vertex Pharmaceuticals, Inc. (a) 1,117   351,933
      3,429,653
Brewers - 0.0% *
Molson Coors Beverage Co., Class B 810   41,861
Broadcasting - 0.1%
Fox Corp., Class A 1,167   39,736
Fox Corp., Class B 740   23,170
Paramount Global, Class B 2,036   45,423
      108,329
Broadline Retail - 2.8%
Amazon.com, Inc. (a) 38,914   4,019,427
eBay, Inc. 2,497   110,792
Etsy, Inc. (a) 600   66,798
      4,197,017
Building Products - 0.4%
A O Smith Corp. 607   41,974
Allegion PLC 398   42,479
Carrier Global Corp. 3,467   158,615
Johnson Controls International PLC 3,122   188,007
Masco Corp. 1,006   50,018
 
See Notes to Schedule of Investments.
4 State Street S&P 500 Index V.I.S. Fund

State Street S&P 500 Index V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Trane Technologies PLC 977   $179,748
      660,841
Cable & Satellite - 0.6%
Charter Communications, Inc., Class A (a) 454   162,355
Comcast Corp., Class A 18,264   692,388
DISH Network Corp., Class A (a) 1,098   10,245
      864,988
Cargo Ground Transportation - 0.1%
JB Hunt Transport Services, Inc. 354   62,113
Old Dominion Freight Line, Inc. 378   128,837
      190,950
Casinos & Gaming - 0.2%
Caesars Entertainment, Inc. (a) 1,071   52,276
Las Vegas Sands Corp. (a) 1,425   81,866
MGM Resorts International 1,217   54,059
Wynn Resorts Ltd. (a) 481   53,829
      242,030
Commodity Chemicals - 0.2%
Dow, Inc. 3,126   171,367
LyondellBasell Industries NV, Class A 1,039   97,552
      268,919
Communications Equipment - 0.9%
Arista Networks, Inc. (a) 1,036   173,903
Cisco Systems, Inc. 17,960   938,859
F5, Inc. (a) 311   45,310
Juniper Networks, Inc. 1,508   51,905
Motorola Solutions, Inc. 715   204,583
      1,414,560
Computer & Electronics Retail - 0.0% *
Best Buy Co., Inc. 860   67,312
Construction & Engineering - 0.1%
Quanta Services, Inc. 633   105,483
Construction Machinery & Heavy Transportation Equipment - 0.6%
Caterpillar, Inc. 2,282   522,213
Cummins, Inc. 642   153,361
PACCAR, Inc. 2,217   162,284
Westinghouse Air Brake Technologies Corp. 736   74,380
      912,238
Construction Materials - 0.1%
Martin Marietta Materials, Inc. 288   102,257
Vulcan Materials Co. 613   105,167
      207,424
Consumer Electronics - 0.0% *
Garmin Ltd. 700   70,644
Consumer Finance - 0.5%
American Express Co. 2,575   424,746
Capital One Financial Corp. 1,670   160,587
Discover Financial Services 1,236   122,166
  Number
of Shares
  Fair
Value
Synchrony Financial 2,066   $60,080
      767,579
Consumer Staples Merchandise Retail - 1.7%
Costco Wholesale Corp. 1,938   962,934
Dollar General Corp. 988   207,934
Dollar Tree, Inc. (a) 961   137,951
Target Corp. 2,036   337,223
Walmart, Inc. 6,128   903,574
      2,549,616
Copper - 0.2%
Freeport-McMoRan, Inc. 6,129   250,737
Data Center REITs - 0.3%
Digital Realty Trust, Inc. 1,208   118,759
Equinix, Inc. 405   292,021
      410,780
Data Processing & Outsourced Services - 0.1%
Broadridge Financial Solutions, Inc. 562   82,372
Distillers & Vintners - 0.1%
Brown-Forman Corp., Class B 755   48,524
Constellation Brands, Inc., Class A 740   167,158
      215,682
Distributors - 0.1%
Genuine Parts Co. 586   98,044
LKQ Corp. 1,238   70,269
Pool Corp. 151   51,708
      220,021
Diversified Banks - 2.5%
Bank of America Corp. 30,588   874,817
Citigroup, Inc. 8,446   396,033
JPMorgan Chase & Co. 12,784   1,665,883
U.S. Bancorp 6,014   216,804
Wells Fargo & Co. 16,760   626,489
      3,780,026
Diversified Support Services - 0.2%
Cintas Corp. 377   174,430
Copart, Inc. (a) 1,888   141,997
      316,427
Drug Retail - 0.1%
Walgreens Boots Alliance, Inc. 3,007   103,982
Electric Utilities - 1.9%
Alliant Energy Corp. 1,156   61,730
American Electric Power Co., Inc. 2,196   199,814
Constellation Energy Corp. 1,411   110,764
Duke Energy Corp. 3,352   323,367
Edison International 1,623   114,568
Entergy Corp. 900   96,966
Evergy, Inc. 1,088   66,499
Eversource Energy 1,562   122,242
Exelon Corp. 4,180   175,100
FirstEnergy Corp. 2,559   102,514
NextEra Energy, Inc. 8,656   667,205
NRG Energy, Inc. 991   33,981
PG&E Corp. (a) 6,600   106,722
Pinnacle West Capital Corp. 489   38,748
 
See Notes to Schedule of Investments.
State Street S&P 500 Index V.I.S. Fund 5

State Street S&P 500 Index V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
PPL Corp. 3,455   $96,015
Southern Co. 4,750   330,505
Xcel Energy, Inc. 2,501   168,667
      2,815,407
Electrical Components & Equipment - 0.6%
AMETEK, Inc. 968   140,680
Eaton Corp. PLC 1,721   294,876
Emerson Electric Co. 2,503   218,112
Generac Holdings, Inc. (a) 324   34,995
Rockwell Automation, Inc. 514   150,833
      839,496
Electronic Components - 0.2%
Amphenol Corp., Class A 2,565   209,612
Corning, Inc. 3,162   111,555
      321,167
Electronic Equipment & Instruments - 0.2%
Keysight Technologies, Inc. (a) 798   128,861
Teledyne Technologies, Inc. (a) 194   86,788
Trimble, Inc. (a) 941   49,327
Zebra Technologies Corp., Class A (a) 250   79,500
      344,476
Electronic Manufacturing Services - 0.1%
TE Connectivity Ltd. 1,336   175,216
Environmental & Facilities Services - 0.3%
Republic Services, Inc. 892   120,616
Rollins, Inc. 1,200   45,036
Waste Management, Inc. 1,666   271,841
      437,493
Fertilizers & Agricultural Chemicals - 0.3%
CF Industries Holdings, Inc. 949   68,793
Corteva, Inc. 3,036   183,101
FMC Corp. 553   67,538
Mosaic Co. 1,427   65,471
      384,903
Financial Exchanges & Data - 1.2%
Cboe Global Markets, Inc. 438   58,797
CME Group, Inc. 1,602   306,815
FactSet Research Systems, Inc. 180   74,716
Intercontinental Exchange, Inc. 2,491   259,786
MarketAxess Holdings, Inc. 180   70,432
Moody's Corp. 674   206,258
MSCI, Inc. 353   197,571
Nasdaq, Inc. 1,512   82,661
S&P Global, Inc. 1,438   495,779
      1,752,815
Food Distributors - 0.1%
Sysco Corp. 2,160   166,817
Food Retail - 0.1%
Kroger Co. 2,948   145,543
Footwear - 0.4%
NIKE, Inc., Class B 5,497   674,152
Gas Utilities - 0.0% *
Atmos Energy Corp. 560   62,922
  Number
of Shares
  Fair
Value
Gold - 0.1%
Newmont Corp. 3,499   $171,521
Health Care REITs - 0.2%
Healthpeak Properties, Inc. 2,669   58,638
Ventas, Inc. 1,922   83,319
Welltower, Inc. 2,144   153,703
      295,660
Healthcare Distributors - 0.3%
AmerisourceBergen Corp. 755   120,883
Cardinal Health, Inc. 1,169   88,260
Henry Schein, Inc. (a) 663   54,061
McKesson Corp. 586   208,645
      471,849
Healthcare Equipment - 2.7%
Abbott Laboratories 7,624   772,006
Baxter International, Inc. 2,181   88,461
Becton Dickinson & Co. 1,252   309,920
Boston Scientific Corp. (a) 6,209   310,636
Dexcom, Inc. (a) 1,654   192,162
Edwards Lifesciences Corp. (a) 2,731   225,936
GE HealthCare Technologies, Inc. (a) 1,621   132,971
Hologic, Inc. (a) 1,062   85,703
IDEXX Laboratories, Inc. (a) 363   181,529
Insulet Corp. (a) 300   95,688
Intuitive Surgical, Inc. (a) 1,537   392,657
Medtronic PLC 5,729   461,872
ResMed, Inc. 617   135,117
STERIS PLC 400   76,512
Stryker Corp. 1,448   413,361
Teleflex, Inc. 222   56,235
Zimmer Biomet Holdings, Inc. 862   111,370
      4,042,136
Healthcare Facilities - 0.2%
HCA Healthcare, Inc. 945   249,178
Universal Health Services, Inc., Class B 241   30,631
      279,809
Healthcare Services - 0.6%
Cigna Group 1,289   329,378
CVS Health Corp. 5,553   412,644
DaVita, Inc. (a)(c) 158   12,815
Laboratory Corp. of America Holdings 393   90,162
Quest Diagnostics, Inc. 458   64,798
      909,797
Healthcare Supplies - 0.1%
Align Technology, Inc. (a) 287   95,898
Cooper Cos., Inc. 235   87,740
DENTSPLY SIRONA, Inc. 977   38,376
      222,014
Home Building - 0.2%
DR Horton, Inc. 1,311   128,072
Lennar Corp., Class A 1,136   119,405
NVR, Inc. (a) 12   66,866
PulteGroup, Inc. 907   52,860
      367,203
 
See Notes to Schedule of Investments.
6 State Street S&P 500 Index V.I.S. Fund

State Street S&P 500 Index V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Home Furnishings - 0.0% *
Mohawk Industries, Inc. (a) 275   $27,561
Home Improvement Retail - 1.2%
Home Depot, Inc. 4,458   1,315,645
Lowe's Cos., Inc. 2,650   529,920
      1,845,565
Hotel & Resort REITs - 0.0% *
Host Hotels & Resorts, Inc. 2,755   45,430
Hotels, Resorts & Cruise Lines - 0.7%
Booking Holdings, Inc. (a) 168   445,605
Carnival Corp. (a) 4,167   42,295
Expedia Group, Inc. (a) 589   57,151
Hilton Worldwide Holdings, Inc. 1,200   169,044
Marriott International, Inc., Class A 1,197   198,750
Norwegian Cruise Line Holdings Ltd. (a) 2,096   28,191
Royal Caribbean Cruises Ltd. (a) 936   61,121
      1,002,157
Household Appliances - 0.0% *
Whirlpool Corp. 267   35,249
Household Products - 1.4%
Church & Dwight Co., Inc. 1,069   94,510
Clorox Co. 513   81,177
Colgate-Palmolive Co. 3,719   279,483
Kimberly-Clark Corp. 1,455   195,290
Procter & Gamble Co. 10,279   1,528,385
      2,178,845
Housewares & Specialties - 0.0% *
Newell Brands, Inc. 1,635   20,339
Human Resource & Employment Services - 0.4%
Automatic Data Processing, Inc. 1,797   400,066
Paychex, Inc. 1,364   156,301
Robert Half International, Inc. 390   31,422
      587,789
Independent Power Producers & Energy Traders - 0.0% *
AES Corp. 2,716   65,401
Industrial Conglomerates - 0.8%
3M Co. 2,466   259,201
General Electric Co. 4,712   450,467
Honeywell International, Inc. 2,929   559,791
      1,269,459
Industrial Gases - 0.7%
Air Products & Chemicals, Inc. 963   276,583
Linde PLC 2,139   760,286
      1,036,869
Industrial Machinery & Supplies & Components - 0.8%
Dover Corp. 626   95,115
Fortive Corp. 1,584   107,981
IDEX Corp. 340   78,550
Illinois Tool Works, Inc. 1,194   290,679
Ingersoll Rand, Inc. 1,662   96,695
Nordson Corp. 237   52,676
Otis Worldwide Corp. 1,858   156,815
  Number
of Shares
  Fair
Value
Parker-Hannifin Corp. 541   $181,836
Pentair PLC 696   38,468
Snap-on, Inc. 182   44,934
Stanley Black & Decker, Inc. 649   52,296
Xylem, Inc. 757   79,258
      1,275,303
Industrial REITs - 0.3%
Prologis, Inc. 4,041   504,196
Insurance Brokers - 0.7%
Aon PLC, Class A 883   278,401
Arthur J Gallagher & Co. 927   177,344
Brown & Brown, Inc. 1,145   65,746
Marsh & McLennan Cos., Inc. 2,207   367,576
Willis Towers Watson PLC 494   114,796
      1,003,863
Integrated Oil & Gas - 2.3%
Chevron Corp. 7,745   1,263,674
Exxon Mobil Corp. 18,035   1,977,718
Occidental Petroleum Corp. 3,243   202,461
      3,443,853
Integrated Telecommunication Services - 0.9%
AT&T, Inc. 31,283   602,198
Verizon Communications, Inc. 18,220   708,576
      1,310,774
Interactive Home Entertainment - 0.3%
Activision Blizzard, Inc. 3,028   259,167
Electronic Arts, Inc. 1,150   138,517
Take-Two Interactive Software, Inc. (a) 736   87,805
      485,489
Interactive Media & Services - 4.7%
Alphabet, Inc., Class C (a) 22,648   2,355,392
Alphabet, Inc., Class A (a)(c) 26,075   2,704,760
Match Group, Inc. (a) 1,240   47,603
Meta Platforms, Inc., Class A (a) 9,732   2,062,600
      7,170,355
Internet Services & Infrastructure - 0.1%
Akamai Technologies, Inc. (a) 614   48,076
VeriSign, Inc. (a) 374   79,038
      127,114
Investment Banking & Brokerage - 0.9%
Charles Schwab Corp. 6,592   345,289
Goldman Sachs Group, Inc. 1,474   482,160
Morgan Stanley 5,680   498,704
Raymond James Financial, Inc. 793   73,963
      1,400,116
IT Consulting & Other Services - 1.1%
Accenture PLC, Class A 2,769   791,408
Cognizant Technology Solutions Corp., Class A 2,337   142,393
DXC Technology Co. (a) 1,002   25,611
EPAM Systems, Inc. (a) 273   81,627
Gartner, Inc. (a) 328   106,853
 
See Notes to Schedule of Investments.
State Street S&P 500 Index V.I.S. Fund 7

State Street S&P 500 Index V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
International Business Machines Corp. 3,967   $520,034
      1,667,926
Leisure Products - 0.0% *
Hasbro, Inc. 692   37,153
Life & Health Insurance - 0.4%
Aflac, Inc. 2,389   154,138
Globe Life, Inc. 457   50,279
Lincoln National Corp. 863   19,392
MetLife, Inc. 2,995   173,530
Principal Financial Group, Inc. 1,011   75,138
Prudential Financial, Inc. 1,691   139,913
      612,390
Life Sciences Tools & Services - 1.8%
Agilent Technologies, Inc. 1,244   172,095
Bio-Rad Laboratories, Inc., Class A (a) 100   47,902
Bio-Techne Corp. 612   45,404
Charles River Laboratories International, Inc. (a) 226   45,611
Danaher Corp. 2,862   721,339
Illumina, Inc. (a) 664   154,413
IQVIA Holdings, Inc. (a) 844   167,863
Mettler-Toledo International, Inc. (a) 95   145,370
PerkinElmer, Inc. 600   79,956
Thermo Fisher Scientific, Inc. 1,718   990,204
Waters Corp. (a) 268   82,981
West Pharmaceutical Services, Inc. 310   107,406
      2,760,544
Managed Healthcare - 1.9%
Centene Corp. (a) 2,524   159,542
Elevance Health, Inc. 1,047   481,421
Humana, Inc. 548   266,032
Molina Healthcare, Inc. (a) 252   67,408
UnitedHealth Group, Inc. 4,076   1,926,277
      2,900,680
Metal, Glass & Plastic Containers - 0.1%
Ball Corp. 1,464   80,681
Movies & Entertainment - 1.1%
Live Nation Entertainment, Inc. (a) 639   44,730
Netflix, Inc. (a) 1,924   664,704
Walt Disney Co. (a) 7,910   792,028
Warner Bros Discovery, Inc. (a) 9,394   141,849
      1,643,311
Multi-Family Residential REITs - 0.3%
AvalonBay Communities, Inc. 620   104,197
Camden Property Trust 500   52,420
Equity Residential 1,384   83,040
Essex Property Trust, Inc. 286   59,814
Mid-America Apartment Communities, Inc. 534   80,655
UDR, Inc. 1,498   61,508
      441,634
Multi-Line Insurance - 0.2%
American International Group, Inc. 3,186   160,447
  Number
of Shares
  Fair
Value
Assurant, Inc. 252   $30,258
Hartford Financial Services Group, Inc. 1,419   98,890
      289,595
Multi-Sector Holdings - 1.6%
Berkshire Hathaway, Inc., Class B (a) 7,865   2,428,476
Multi-Utilities - 0.8%
Ameren Corp. 1,067   92,178
CenterPoint Energy, Inc. 2,964   87,319
CMS Energy Corp. 1,149   70,526
Consolidated Edison, Inc. 1,542   147,523
Dominion Energy, Inc. 3,580   200,158
DTE Energy Co. 902   98,805
NiSource, Inc. 2,025   56,619
Public Service Enterprise Group, Inc. 2,307   144,072
Sempra Energy 1,421   214,798
WEC Energy Group, Inc. 1,435   136,024
      1,248,022
Office REITs - 0.1%
Alexandria Real Estate Equities, Inc. 700   87,913
Boston Properties, Inc. 678   36,693
      124,606
Oil & Gas Equipment & Services - 0.4%
Baker Hughes Co. 4,506   130,043
Halliburton Co. 3,815   120,707
Schlumberger NV 6,304   309,526
      560,276
Oil & Gas Exploration & Production - 1.1%
APA Corp. 1,268   45,724
ConocoPhillips 5,367   532,460
Coterra Energy, Inc. 3,758   92,221
Devon Energy Corp. 2,946   149,097
Diamondback Energy, Inc. 794   107,325
EOG Resources, Inc. 2,634   301,935
EQT Corp. 1,700   54,247
Hess Corp. 1,179   156,029
Marathon Oil Corp. 2,562   61,386
Pioneer Natural Resources Co. 1,004   205,057
      1,705,481
Oil & Gas Refining & Marketing - 0.5%
Marathon Petroleum Corp. 2,007   270,604
Phillips 66 1,960   198,705
Valero Energy Corp. 1,653   230,758
      700,067
Oil & Gas Storage & Transportation - 0.3%
Kinder Morgan, Inc. 8,660   151,637
ONEOK, Inc. 1,965   124,856
Targa Resources Corp. 893   65,144
Williams Cos., Inc. 5,197   155,182
      496,819
Other Specialized REITs - 0.1%
Iron Mountain, Inc. 1,186   62,751
VICI Properties, Inc. 4,067   132,666
      195,417
 
See Notes to Schedule of Investments.
8 State Street S&P 500 Index V.I.S. Fund

State Street S&P 500 Index V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Other Specialty Retail - 0.2%
Bath & Body Works, Inc. 892   $32,630
Tractor Supply Co. 457   107,413
Ulta Beauty, Inc. (a) 212   115,682
      255,725
Packaged Foods & Meats - 1.0%
Campbell Soup Co. 776   42,665
Conagra Brands, Inc. 1,941   72,904
General Mills, Inc. 2,665   227,751
Hershey Co. 663   168,674
Hormel Foods Corp. 1,297   51,724
J M Smucker Co. 459   72,233
Kellogg Co. 1,186   79,415
Kraft Heinz Co. 3,317   128,268
Lamb Weston Holdings, Inc. 568   59,367
McCormick & Co., Inc. 1,028   85,540
Mondelez International, Inc., Class A 5,911   412,115
Tyson Foods, Inc., Class A 1,173   69,582
      1,470,238
Paper & Plastic Packaging Products & Materials - 0.2%
Amcor PLC 6,636   75,518
Avery Dennison Corp. 351   62,805
International Paper Co. 1,599   57,660
Packaging Corp. of America 446   61,918
Sealed Air Corp. 764   35,075
Westrock Co. 928   28,276
      321,252
Passenger Airlines - 0.2%
Alaska Air Group, Inc. (a) 700   29,372
American Airlines Group, Inc. (a) 2,697   39,781
Delta Air Lines, Inc. (a) 2,886   100,779
Southwest Airlines Co. 2,670   86,882
United Airlines Holdings, Inc. (a) 1,288   56,994
      313,808
Personal Care Products - 0.2%
Estee Lauder Cos., Inc., Class A 1,010   248,925
Pharmaceuticals - 4.1%
Bristol-Myers Squibb Co. 9,284   643,474
Catalent, Inc. (a) 721   47,377
Eli Lilly & Co. 3,431   1,178,274
Johnson & Johnson 11,396   1,766,380
Merck & Co., Inc. 11,119   1,182,951
Organon & Co. 1,206   28,365
Pfizer, Inc. 24,599   1,003,639
Viatris, Inc. 4,835   46,513
Zoetis, Inc. 2,055   342,034
      6,239,007
Property & Casualty Insurance - 0.9%
Allstate Corp. 1,181   130,867
Arch Capital Group Ltd. (a) 1,700   115,379
Chubb Ltd. 1,851   359,427
Cincinnati Financial Corp. 723   81,034
Loews Corp. 746   43,283
Progressive Corp. 2,534   362,514
Travelers Cos., Inc. 1,045   179,123
  Number
of Shares
  Fair
Value
W R Berkley Corp. 808   $50,306
      1,321,933
Publishing - 0.0% *
News Corp., Class A 2,096   36,198
News Corp., Class B 748   13,038
      49,236
Rail Transportation - 0.7%
CSX Corp. 9,378   280,777
Norfolk Southern Corp. 974   206,488
Union Pacific Corp. 2,698   543,000
      1,030,265
Real Estate Services - 0.1%
CBRE Group, Inc., Class A (a) 1,320   96,109
Regional Banks - 0.6%
Citizens Financial Group, Inc. 2,100   63,777
Comerica, Inc. 648   28,136
Fifth Third Bancorp 3,184   84,822
First Republic Bank 854   11,948
Huntington Bancshares, Inc. 6,287   70,414
KeyCorp 3,987   49,917
M&T Bank Corp. 705   84,297
PNC Financial Services Group, Inc. 1,799   228,653
Regions Financial Corp. 3,805   70,621
Truist Financial Corp. 5,722   195,120
Zions Bancorp NA 700   20,951
      908,656
Reinsurance - 0.0% *
Everest Re Group Ltd. 152   54,419
Research & Consulting Services - 0.3%
CoStar Group, Inc. (a) 1,800   123,930
Equifax, Inc. 508   103,043
Jacobs Solutions, Inc. 548   64,395
Leidos Holdings, Inc. 645   59,379
Verisk Analytics, Inc. 654   125,476
      476,223
Restaurants - 1.3%
Chipotle Mexican Grill, Inc. (a) 122   208,411
Darden Restaurants, Inc. 493   76,494
Domino's Pizza, Inc. 137   45,192
McDonald's Corp. 3,180   889,160
Starbucks Corp. 4,955   515,964
Yum! Brands, Inc. 1,210   159,817
      1,895,038
Retail REITs - 0.3%
Federal Realty Investment Trust 394   38,939
Kimco Realty Corp. 2,766   54,020
Realty Income Corp. 2,675   169,381
Regency Centers Corp. 620   37,932
Simon Property Group, Inc. 1,397   156,422
      456,694
Self Storage REITs - 0.2%
Extra Space Storage, Inc. 565   92,056
Public Storage 672   203,038
      295,094
 
See Notes to Schedule of Investments.
State Street S&P 500 Index V.I.S. Fund 9

State Street S&P 500 Index V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Semiconductor Materials & Equipment - 0.8%
Applied Materials, Inc. 3,648   $448,084
Enphase Energy, Inc. (a) 600   126,168
KLA Corp. 617   246,288
Lam Research Corp. 590   312,771
SolarEdge Technologies, Inc. (a) 226   68,693
Teradyne, Inc. 677   72,784
      1,274,788
Semiconductors - 5.6%
Advanced Micro Devices, Inc. (a) 6,992   685,286
Analog Devices, Inc. 2,242   442,167
Broadcom, Inc. 1,833   1,175,943
First Solar, Inc. (a) 400   87,000
Intel Corp. 17,808   581,787
Microchip Technology, Inc. 2,345   196,464
Micron Technology, Inc. 4,849   292,589
Monolithic Power Systems, Inc. 206   103,111
NVIDIA Corp. 10,733   2,981,306
NXP Semiconductors NV 1,156   215,565
ON Semiconductor Corp. (a) 1,939   159,619
Qorvo, Inc. (a) 376   38,190
QUALCOMM, Inc. 4,908   626,163
Skyworks Solutions, Inc. 636   75,035
Texas Instruments, Inc. 3,938   732,507
      8,392,732
Single-Family Residential REITs - 0.1%
Invitation Homes, Inc. 2,500   78,075
Soft Drinks & Non-alcoholic Beverages - 1.6%
Coca-Cola Co. 17,049   1,057,549
Keurig Dr Pepper, Inc. 3,813   134,523
Monster Beverage Corp. (a) 3,474   187,631
PepsiCo, Inc. 5,992   1,092,341
      2,472,044
Specialty Chemicals - 0.7%
Albemarle Corp. 541   119,582
Celanese Corp. 373   40,616
DuPont de Nemours, Inc. 2,059   147,774
Eastman Chemical Co. 541   45,628
Ecolab, Inc. 1,047   173,310
International Flavors & Fragrances, Inc. 1,159   106,582
PPG Industries, Inc. 988   131,977
Sherwin-Williams Co. 1,010   227,018
      992,487
Steel - 0.2%
Nucor Corp. 1,147   177,177
Steel Dynamics, Inc. 700   79,142
      256,319
Systems Software - 7.0%
Fortinet, Inc. (a) 2,735   181,768
Gen Digital, Inc. 2,772   47,567
Microsoft Corp. 32,512   9,373,210
Oracle Corp. 6,658   618,661
ServiceNow, Inc. (a) 890   413,601
      10,634,807
  Number
of Shares
  Fair
Value
Technology Distributors - 0.1%
CDW Corp. 600   $116,934
Technology Hardware, Storage & Peripherals - 7.3%
Apple, Inc. 64,964   10,712,563
Contra Abiomed, Inc. (a) 199   203
Hewlett Packard Enterprise Co. 5,833   92,920
HP, Inc. 4,029   118,251
NetApp, Inc. 938   59,891
Seagate Technology Holdings PLC 715   47,276
Western Digital Corp. (a) 1,358   51,156
      11,082,260
Telecom Tower REITs - 0.5%
American Tower Corp. 2,020   412,767
Crown Castle, Inc. 1,858   248,674
SBA Communications Corp. 455   118,787
      780,228
Timber REITs - 0.1%
Weyerhaeuser Co. 3,043   91,686
Tobacco - 0.7%
Altria Group, Inc. 7,696   343,395
Philip Morris International, Inc. 6,715   653,034
      996,429
Trading Companies & Distributors - 0.3%
Fastenal Co. 2,371   127,892
United Rentals, Inc. 312   123,477
WW Grainger, Inc. 207   142,584
      393,953
Transaction & Payment Processing Services - 2.7%
Fidelity National Information Services, Inc. 2,647   143,812
Fiserv, Inc. (a) 2,833   320,214
FleetCor Technologies, Inc. (a) 323   68,105
Global Payments, Inc. 1,129   118,816
Jack Henry & Associates, Inc. 349   52,601
Mastercard, Inc., Class A 3,675   1,335,532
PayPal Holdings, Inc. (a) 4,894   371,650
Visa, Inc., Class A 7,081   1,596,482
      4,007,212
Water Utilities - 0.1%
American Water Works Co., Inc. 817   119,682
Wireless Telecommunication Services - 0.2%
T-Mobile U.S., Inc. (a) 2,583   374,122
Total Common Stock
(Cost $46,239,656)
    149,973,651
Short-Term Investments - 0.7%
State Street Institutional Liquid Reserves Fund - Premier Class 4.97% (c)(d)(e)
(Cost $1,087,189)
1,086,939   1,087,048
Total Investments
(Cost $47,326,845)
    151,060,699
Other Assets and Liabilities, net - 0.0%*     57,963
NET ASSETS - 100.0%     $151,118,662
 
See Notes to Schedule of Investments.
10 State Street S&P 500 Index V.I.S. Fund

State Street S&P 500 Index V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 

Other Information (Unaudited):

The Fund had the following long futures contracts open at March 31, 2023:
    
Description   Expiration
Date
  Number of
Contracts
  Notional
Amount
  Value   Unrealized
Appreciation
(Depreciation)
S&P 500 E-mini Index Futures   June 2023   5   $997,330   $1,034,438   $37,108
The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice. The securities cited may not be representative of the Fund’s future investments and should not be construed as a recommendation to purchase or sell a particular security. See the Fund’s summary prospectus and statutory prospectus for complete descriptions of investment objectives, policies, risks and permissible investments.
(a) Non-income producing security.
(b) State Street Corporation is the parent company of SSGA Funds Management, Inc., the Fund's investment adviser and administrator, and State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent.
(c) At March 31, 2023, all or a portion of this security was pledged to cover collateral requirements for futures.
(d) Sponsored by SSGA Funds Management, Inc., the Fund’s investment adviser and administrator, and an affiliate of State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent.
(e) Coupon amount represents effective yield.
Percentages are based on net assets as of March 31, 2023.
* Less than 0.05%.
    
Abbreviations:
REIT - Real Estate Investment Trust
The following table presents the Fund’s investments measured at fair value on a recurring basis at March 31, 2023:
Investments Level 1   Level 2   Level 3   Total
Investments in Securities              
Common Stock $149,973,448   $203   $—   $149,973,651
Short-Term Investments 1,087,048       1,087,048
Total Investments in Securities $151,060,496   $203   $—   $151,060,699
Other Financial Instruments              
Long Futures Contracts - Unrealized Appreciation 37,108       37,108
Total Other Financial Instruments $37,108   $  $—   $37,108
    
Affiliate Table
    
  Number
of Shares
Held at
12/31/22
  Value at
12/31/22
  Cost of
Purchases
  Proceeds
from
Shares
Sold
  Realized
Gain
(Loss)
  Change in
Unrealized
Appreciation
(Depreciation)
  Number of
Shares
Held at
3/31/23
  Value at
3/31/23
  Dividend
Income
State Street Corp. 1,635   $126,827   $  $12,368   $(1,415)   $(1,931)   1,468   $111,113   $925
State Street Institutional Liquid Reserves Fund, Premier Class 3,444,537   3,445,226   2,854,521   5,212,945   48   198   1,086,939   1,087,048   26,676
TOTAL     $3,572,053   $2,854,521   $5,225,313   $(1,367)   $(1,733)       $1,198,161   $27,601
See Notes to Schedule of Investments.
State Street S&P 500 Index V.I.S. Fund 11

State Street Premier Growth Equity V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Common Stock - 96.9% †
Apparel Retail - 1.6%
Ross Stores, Inc. 4,113   $436,513
Application Software - 3.7%
Adobe, Inc. (a) 1,276   491,732
Salesforce, Inc. (a) 2,687   536,809
      1,028,541
Automobile Manufacturers - 0.9%
Tesla, Inc. (a) 1,204   249,782
Biotechnology - 3.2%
BioMarin Pharmaceutical, Inc. (a) 4,555   442,928
Vertex Pharmaceuticals, Inc. (a) 1,429   450,235
      893,163
Broadline Retail - 6.5%
Amazon.com, Inc. (a) 17,692   1,827,407
Cable & Satellite - 1.1%
Charter Communications, Inc., Class A (a) 867   310,048
Consumer Staples Merchandise Retail - 2.4%
Costco Wholesale Corp. 1,325   658,353
Electrical Components & Equipment - 1.9%
Eaton Corp. PLC 3,123   535,095
Financial Exchanges & Data - 1.6%
S&P Global, Inc. 1,272   438,547
Healthcare Equipment - 2.7%
Boston Scientific Corp. (a) 8,178   409,146
IDEXX Laboratories, Inc. (a) 704   352,056
      761,202
Home Improvement Retail - 1.6%
Lowe's Cos., Inc. 2,229   445,733
Industrial Machinery & Supplies & Components - 2.1%
Parker-Hannifin Corp. 1,750   588,192
Interactive Media & Services - 10.2%
Alphabet, Inc., Class C (a) 12,868   1,338,272
Alphabet, Inc., Class A (a) 7,448   772,581
Meta Platforms, Inc., Class A (a) 3,440   729,074
      2,839,927
Life Sciences Tools & Services - 1.4%
IQVIA Holdings, Inc. (a) 2,022   402,155
Managed Healthcare - 3.8%
UnitedHealth Group, Inc. 2,249   1,062,855
Other Specialty Retail - 1.0%
Chewy, Inc., Class A (a) 7,573   283,079
Pharmaceuticals - 1.8%
AstraZeneca PLC ADR 7,303   506,901
Semiconductor Materials & Equipment - 2.1%
Applied Materials, Inc. 4,884   599,902
  Number
of Shares
  Fair
Value
Semiconductors - 8.7%
Advanced Micro Devices, Inc. (a) 6,794   $665,880
NVIDIA Corp. 3,507   974,140
QUALCOMM, Inc. 6,242   796,354
      2,436,374
Soft Drinks & Non-alcoholic Beverages - 1.9%
Monster Beverage Corp. (a) 9,840   531,458
Systems Software - 14.6%
Microsoft Corp. 12,070   3,479,781
ServiceNow, Inc. (a) 1,324   615,289
      4,095,070
Technology Hardware, Storage & Peripherals - 11.1%
Apple, Inc. 18,787   3,097,976
Telecom Tower REITs - 1.5%
American Tower Corp. 2,026   413,993
Trading Companies & Distributors - 2.1%
United Rentals, Inc. 1,479   585,329
Transaction & Payment Processing Services - 7.4%
Fidelity National Information Services, Inc. 2,596   141,041
Mastercard, Inc., Class A 2,470   897,623
Visa, Inc., Class A 4,634   1,044,781
      2,083,445
Total Common Stock
(Cost $14,427,441)
    27,111,040
Short-Term Investments - 3.4%
State Street Institutional U.S. Government Money Market Fund - Class G Shares 4.74% (b)(c)
(Cost $960,634)
960,634   960,634
Total Investments
(Cost $15,388,075)
    28,071,674
Liabilities in Excess of Other Assets, net - (0.3)%     (94,959)
NET ASSETS - 100.0%     $27,976,715
The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice. The securities cited may not be representative of the Fund’s future investments and should not be construed as a recommendation to purchase or sell a particular security. See the Fund’s summary prospectus and statutory prospectus for complete descriptions of investment objectives, policies, risks and permissible investments.
(a) Non-income producing security.
(b) Sponsored by SSGA Funds Management, Inc., the Fund’s investment adviser and administrator, and an affiliate of State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent.
(c) Coupon amount represents effective yield.
Percentages are based on net assets as of March 31, 2023.
    
Abbreviations:
ADR - American Depositary Receipt
REIT - Real Estate Investment Trust
 
See Notes to Schedule of Investments.
12 State Street Premier Growth Equity V.I.S. Fund

State Street Premier Growth Equity V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
The following table presents the Fund’s investments measured at fair value on a recurring basis at March 31, 2023:
Investments Level 1   Level 2   Level 3   Total
Investments in Securities              
Common Stock $27,111,040   $—   $—   $27,111,040
Short-Term Investments 960,634       960,634
Total Investments in Securities $28,071,674   $—   $—   $28,071,674
    
Affiliate Table
    
  Number
of Shares
Held at
12/31/22
  Value at
12/31/22
  Cost of
Purchases
  Proceeds
from
Shares
Sold
  Realized
Gain
(Loss)
  Change in
Unrealized
Appreciation
(Depreciation)
  Number of
Shares
Held at
3/31/23
  Value at
3/31/23
  Dividend
Income
State Street Institutional U.S. Government Money Market Fund - Class G Shares 500,571   $500,571   $1,970,111   $1,510,048   $—   $—   960,634   $960,634   $7,420
See Notes to Schedule of Investments.
State Street Premier Growth Equity V.I.S. Fund 13

State Street Small-Cap Equity V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Common Stock - 94.3% †
Aerospace & Defense - 0.2%
Woodward, Inc. (a) 612   $59,590
Agricultural & Farm Machinery - 0.9%
AGCO Corp. 1,690   228,488
Agricultural Products & Services - 1.5%
Darling Ingredients, Inc. (b) 6,452   376,797
Aluminum - 0.0% *
Alcoa Corp. 213   9,065
Apparel Retail - 0.6%
American Eagle Outfitters, Inc. 2,914   39,164
Buckle, Inc. 2,117   75,556
Revolve Group, Inc. (b) 1,498   39,397
      154,117
Application Software - 5.8%
ACI Worldwide, Inc. (b) 3,964   106,949
Altair Engineering, Inc., Class A (a)(b) 1,529   110,256
Asana, Inc., Class A (b) 3,780   79,871
Blackbaud, Inc. (b) 3,015   208,940
Blackline, Inc. (b) 2,728   183,185
CCC Intelligent Solutions Holdings, Inc. (b) 4,726   42,392
Freshworks, Inc., Class A Revenue (b) 7,720   118,579
New Relic, Inc. (b) 2,710   204,036
Nutanix, Inc., Class A (b) 2,300   59,777
Q2 Holdings, Inc. (b) 2,415   59,457
Smartsheet, Inc., Class A (b) 980   46,844
Vertex, Inc., Class A (b) 3,654   75,601
Workiva, Inc. (b) 1,840   188,435
      1,484,322
Automobile Manufacturers - 0.6%
Thor Industries, Inc. 2,033   161,908
Automotive Parts & Equipment - 1.3%
Dana, Inc. 3,421   51,486
Dorman Products, Inc. (b) 2,706   233,420
LCI Industries 176   19,337
Modine Manufacturing Co. (b) 1,502   34,621
      338,864
Automotive Retail - 1.6%
America's Car-Mart, Inc. (b) 394   31,209
Group 1 Automotive, Inc. 399   90,341
Monro, Inc. 1,002   49,529
Murphy USA, Inc. 964   248,760
      419,839
Biotechnology - 0.8%
Avid Bioservices, Inc. (b) 3,663   68,718
Emergent BioSolutions, Inc. (b) 1,715   17,767
Halozyme Therapeutics, Inc. (a)(b) 1,078   41,169
Heron Therapeutics, Inc. (a)(b) 14,132   21,339
Veracyte, Inc. (b) 2,500   55,750
      204,743
Brewers - 0.8%
Boston Beer Co., Inc., Class A (b) 663   217,928
  Number
of Shares
  Fair
Value
Broadline Retail - 0.3%
Ollie's Bargain Outlet Holdings, Inc. (b) 1,346   $77,987
Building Products - 2.6%
Armstrong World Industries, Inc. 2,724   194,058
CSW Industrials, Inc. 980   136,152
Gibraltar Industries, Inc. (b) 2,863   138,856
Hayward Holdings, Inc. (a)(b) 4,820   56,490
Insteel Industries, Inc. 1,594   44,345
Simpson Manufacturing Co., Inc. 410   44,952
UFP Industries, Inc. 490   38,940
      653,793
Cargo Ground Transportation - 0.7%
Saia, Inc. (b) 662   180,117
Commodity Chemicals - 0.2%
Hawkins, Inc. (a) 1,091   47,764
Communications Equipment - 0.1%
Cambium Networks Corp. (b) 1,283   22,735
Computer & Electronics Retail - 0.1%
Upbound Group, Inc. 739   18,113
Construction & Engineering - 1.7%
Dycom Industries, Inc. (b) 3,591   336,297
IES Holdings, Inc. (b) 702   30,249
Valmont Industries, Inc. 199   63,537
      430,083
Construction Machinery & Heavy Transportation Equipment - 0.6%
Alamo Group, Inc. 484   89,133
Astec Industries, Inc. 251   10,354
Wabash National Corp. 2,537   62,385
      161,872
Construction Materials - 0.1%
Eagle Materials, Inc. 249   36,541
Consumer Finance - 0.2%
PROG Holdings, Inc. (b) 2,711   64,495
Data Processing & Outsourced Services - 0.8%
CSG Systems International, Inc. 1,916   102,889
Verra Mobility Corp. (b) 5,942   100,539
      203,428
Distillers & Vintners - 1.4%
MGP Ingredients, Inc. 3,711   358,928
Distributors - 0.8%
LKQ Corp. 3,485   197,809
Diversified Metals & Mining - 0.3%
Compass Minerals International, Inc. 1,101   37,753
Materion Corp. (a) 282   32,712
      70,465
Diversified REITs - 0.3%
Alpine Income Property Trust, Inc. 1,814   30,530
American Assets Trust, Inc. 1,270   23,609
 
See Notes to Schedule of Investments.
14 State Street Small-Cap Equity V.I.S. Fund

State Street Small-Cap Equity V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Essential Properties Realty Trust, Inc. 840   $20,874
      75,013
Diversified Support Services - 2.0%
Healthcare Services Group, Inc. (a) 3,436   47,657
Matthews International Corp., Class A 2,371   85,498
Ritchie Bros Auctioneers, Inc. 6,113   344,101
UniFirst Corp. 168   29,607
      506,863
Education Services - 0.5%
Bright Horizons Family Solutions, Inc. (b) 443   34,107
Stride, Inc. (b) 2,360   92,630
      126,737
Electric Utilities - 1.1%
ALLETE, Inc. 587   37,785
IDACORP, Inc. 2,161   234,101
      271,886
Electrical Components & Equipment - 0.8%
Acuity Brands, Inc. 150   27,410
Atkore, Inc. (b) 356   50,011
Generac Holdings, Inc. (b) 850   91,808
Regal Rexnord Corp. 294   41,375
      210,604
Electronic Components - 1.6%
Belden, Inc. 2,381   206,599
Coherent Corp. (b) 1,408   53,617
Littelfuse, Inc. 581   155,760
      415,976
Electronic Equipment & Instruments - 1.4%
National Instruments Corp. 2,298   120,438
Novanta, Inc. (b) 880   139,999
Vontier Corp. 3,475   95,007
      355,444
Electronic Manufacturing Services - 0.1%
Plexus Corp. (b) 323   31,515
Environmental & Facilities Services - 0.3%
Montrose Environmental Group, Inc. (b) 1,970   70,270
Food Distributors - 0.5%
Performance Food Group Co. (b) 2,160   130,334
Footwear - 0.3%
Deckers Outdoor Corp. (b) 185   83,167
Health Care REITs - 0.4%
Community Healthcare Trust, Inc. 2,515   92,049
Healthcare Distributors - 0.3%
AdaptHealth Corp. (b) 5,690   70,727
Healthcare Equipment - 5.8%
AtriCure, Inc. (b) 2,470   102,381
Axonics, Inc. (b) 1,730   94,389
  Number
of Shares
  Fair
Value
Cardiovascular Systems, Inc. (b) 3,000   $59,580
CONMED Corp. 1,280   132,941
Globus Medical, Inc., Class A (b) 2,150   121,776
Heska Corp. (b) 278   27,138
Inspire Medical Systems, Inc. (b) 850   198,959
Integra LifeSciences Holdings Corp. (b) 3,310   190,027
LeMaitre Vascular, Inc. 732   37,676
Mesa Laboratories, Inc. 285   49,798
Omnicell, Inc. (b) 1,280   75,098
Outset Medical, Inc. (b) 2,380   43,792
Penumbra, Inc. (b) 820   228,526
SI-BONE, Inc. (b) 2,220   43,667
Tandem Diabetes Care, Inc. (b) 2,250   91,373
      1,497,121
Healthcare Facilities - 1.4%
Acadia Healthcare Co., Inc. (b) 2,242   161,985
U.S. Physical Therapy, Inc. 1,884   184,462
      346,447
Healthcare Services - 0.7%
Addus HomeCare Corp. (b) 539   57,544
AMN Healthcare Services, Inc. (b) 357   29,617
Castle Biosciences, Inc. (b) 2,034   46,212
Pediatrix Medical Group, Inc. (b) 2,698   40,227
      173,600
Healthcare Supplies - 0.4%
ICU Medical, Inc. (b) 126   20,785
Neogen Corp. (b) 4,070   75,376
      96,161
Healthcare Technology - 0.3%
NextGen Healthcare, Inc. (b) 2,501   43,542
Simulations Plus, Inc. 702   30,846
      74,388
Home Building - 0.9%
Cavco Industries, Inc. (b) 214   67,996
Green Brick Partners, Inc. (b) 342   11,991
Taylor Morrison Home Corp. (b) 2,428   92,895
TopBuild Corp. (b) 229   47,664
      220,546
Home Furnishing Retail - 0.2%
Aaron's Co., Inc. 4,219   40,755
Overstock.com, Inc. (b) 769   15,588
      56,343
Hotel & Resort REITs - 0.6%
RLJ Lodging Trust 9,548   101,209
Sunstone Hotel Investors, Inc. 4,443   43,897
      145,106
Household Products - 0.3%
Central Garden & Pet Co., Class A (b) 2,140   83,610
 
See Notes to Schedule of Investments.
State Street Small-Cap Equity V.I.S. Fund 15

State Street Small-Cap Equity V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Industrial Machinery & Supplies & Components - 7.2%
Albany International Corp., Class A 640   $57,190
Barnes Group, Inc. 4,724   190,283
Chart Industries, Inc. (b) 268   33,607
Enerpac Tool Group Corp. 10,835   276,293
ESCO Technologies, Inc. 1,550   147,948
Evoqua Water Technologies Corp. (b) 4,370   217,276
Helios Technologies, Inc. (a) 314   20,536
Hillenbrand, Inc. 730   34,697
John Bean Technologies Corp. 2,070   226,230
Mueller Industries, Inc. 1,857   136,452
RBC Bearings, Inc. (b) 580   134,983
Standex International Corp. 820   100,401
Timken Co. 3,347   273,517
      1,849,413
Industrial REITs - 0.8%
EastGroup Properties, Inc. 1,172   193,755
Insurance Brokers - 0.4%
BRP Group, Inc., Class A (b) 4,500   114,570
Interactive Media & Services - 0.2%
Ziff Davis, Inc. (a)(b) 527   41,132
Investment Banking & Brokerage - 1.1%
Piper Sandler Cos., 425   58,909
Raymond James Financial, Inc. 1,625   151,564
Stifel Financial Corp. 1,159   68,485
      278,958
IT Consulting & Other Services - 0.2%
Perficient, Inc. (b) 474   34,218
Unisys Corp. (b) 6,283   24,378
      58,596
Leisure Products - 1.7%
Johnson Outdoors, Inc., Class A 316   19,911
Malibu Boats, Inc., Class A (b) 3,043   171,778
Polaris, Inc. 2,162   239,182
      430,871
Life & Health Insurance - 0.2%
American Equity Investment Life Holding Co. 984   35,906
Trupanion, Inc. (b) 644   27,621
      63,527
Life Sciences Tools & Services - 2.4%
Azenta, Inc. (b) 1,542   68,804
BioLife Solutions, Inc. (b) 3,784   82,302
Bruker Corp. 2,162   170,452
ICON PLC ADR (b) 371   79,242
Repligen Corp. (b) 912   153,545
Syneos Health, Inc. (b) 1,686   60,055
      614,400
Marine Transportation - 0.2%
Kirby Corp. (b) 658   45,863
Metal, Glass & Plastic Containers - 0.4%
TriMas Corp. 3,270   91,102
  Number
of Shares
  Fair
Value
Multi-Family Residential REITs - 0.2%
NexPoint Residential Trust, Inc. 1,049   $45,810
Multi-Line Insurance - 0.2%
Horace Mann Educators Corp. 1,787   59,829
Multi-Utilities - 0.1%
Avista Corp. 875   37,144
Office REITs - 0.7%
Corporate Office Properties Trust 1,092   25,891
Cousins Properties, Inc. 3,658   78,208
Easterly Government Properties, Inc. 4,731   65,004
      169,103
Office Services & Supplies - 1.0%
MSA Safety, Inc. 1,988   265,398
Oil & Gas Drilling - 0.0% *
Helmerich & Payne, Inc. (a) 273   9,760
Oil & Gas Equipment & Services - 0.7%
ChampionX Corp. 1,479   40,125
Oil States International, Inc. (b) 15,480   128,949
      169,074
Oil & Gas Exploration & Production - 1.6%
Civitas Resources, Inc. 604   41,277
Northern Oil & Gas, Inc. 1,444   43,825
PDC Energy, Inc. 3,165   203,130
SM Energy Co. 3,074   86,564
Southwestern Energy Co. (b) 8,624   43,120
      417,916
Other Specialty Retail - 0.6%
Leslie's, Inc. (b) 6,590   72,556
Sally Beauty Holdings, Inc. (b) 5,130   79,925
      152,481
Packaged Foods & Meats - 3.4%
Calavo Growers, Inc. 1,448   41,659
Fresh Market, Inc. 10,000  
Freshpet, Inc. (b) 1,470   97,299
Hostess Brands, Inc. (b) 5,450   135,596
J & J Snack Foods Corp. 670   99,307
Lancaster Colony Corp. 780   158,247
Simply Good Foods Co. (b) 3,410   135,616
Sovos Brands, Inc. (b) 3,900   65,052
Utz Brands, Inc. 7,670   126,325
      859,101
Paper & Plastic Packaging Products & Materials - 0.1%
Ranpak Holdings Corp. (b) 3,875   20,228
Personal Care Products - 0.2%
BellRing Brands, Inc. (b) 1,280   43,520
Pharmaceuticals - 0.2%
ANI Pharmaceuticals, Inc. (b) 1,297   51,517
Organon & Co. 457   10,748
      62,265
 
See Notes to Schedule of Investments.
16 State Street Small-Cap Equity V.I.S. Fund

State Street Small-Cap Equity V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Property & Casualty Insurance - 2.0%
AMERISAFE, Inc. 1,064   $52,083
Argo Group International Holdings Ltd. 1,852   54,245
James River Group Holdings Ltd. 2,590   53,483
Palomar Holdings, Inc. (b) 1,290   71,208
RLI Corp. 914   121,480
Selective Insurance Group, Inc. 1,710   163,014
      515,513
Publishing - 0.9%
John Wiley & Sons, Inc., Class A 6,004   232,775
Regional Banks - 8.2%
1st Source Corp. 1,260   54,369
Banc of California, Inc. 823   10,312
BancFirst Corp. 580   48,198
Bank OZK 1,516   51,847
BankUnited, Inc. 1,067   24,093
Banner Corp. 385   20,932
Cadence Bank 1,695   35,188
Community Bank System, Inc. 1,210   63,513
Cullen/Frost Bankers, Inc. 917   96,597
CVB Financial Corp. 2,000   33,360
Enterprise Financial Services Corp. 908   40,488
First Financial Bankshares, Inc. 1,750   55,825
First Interstate BancSystem, Inc., Class A 626   18,692
Fulton Financial Corp. 5,173   71,491
German American Bancorp, Inc. 1,950   65,072
Heritage Commerce Corp. (a) 3,254   27,106
Home BancShares, Inc. 3,077   66,802
HomeStreet, Inc. 1,133   20,383
Independent Bank Corp. 2,459   161,360
Lakeland Financial Corp. 319   19,982
Live Oak Bancshares, Inc. 6,077   148,096
National Bank Holdings Corp., Class A 1,534   51,328
New York Community Bancorp, Inc. 3,034   27,427
Origin Bancorp, Inc. 1,270   40,831
Peapack-Gladstone Financial Corp. 1,000   29,620
Pinnacle Financial Partners, Inc. 769   42,418
Prosperity Bancshares, Inc. 1,668   102,615
Renasant Corp. 3,610   110,394
ServisFirst Bancshares, Inc. 1,050   57,362
SouthState Corp. 423   30,143
Stock Yards Bancorp, Inc. 305   16,818
Texas Capital Bancshares, Inc. (b) 874   42,791
United Community Banks, Inc. 1,052   29,582
Washington Federal, Inc. 834   25,120
Westamerica BanCorp 1,568   69,462
Western Alliance Bancorp 1,419   50,431
Wintrust Financial Corp. (a) 970   70,761
WSFS Financial Corp. (a) 4,403   165,597
      2,096,406
Research & Consulting Services - 0.3%
Resources Connection, Inc. 4,821   82,246
  Number
of Shares
  Fair
Value
Restaurants - 1.6%
Bloomin' Brands, Inc. 2,582   $66,228
Cheesecake Factory, Inc. 1,747   61,232
Shake Shack, Inc., Class A (b) 1,680   93,223
Texas Roadhouse, Inc. 960   103,738
Wingstop, Inc. (a) 430   78,940
      403,361
Retail REITs - 0.4%
Kite Realty Group Trust 2,603   54,455
Macerich Co. (a) 3,403   36,072
      90,527
Security & Alarm Services - 1.0%
Brink's Co. 3,834   256,111
Self Storage REITs - 0.1%
National Storage Affiliates Trust 845   35,304
Semiconductor Materials & Equipment - 0.6%
Ichor Holdings Ltd. (b) 1,587   51,958
Onto Innovation, Inc. (b) 1,070   94,032
      145,990
Semiconductors - 0.4%
Diodes, Inc. (b) 299   27,735
MaxLinear, Inc. (b) 617   21,725
Semtech Corp. (b) 2,031   49,028
      98,488
Soft Drinks & Non-alcoholic Beverages - 0.5%
Primo Water Corp. 7,771   119,285
Zevia PBC, Class A (a)(b) 1,640   6,314
      125,599
Specialized Consumer Services - 0.4%
European Wax Center, Inc., Class A 3,200   60,800
OneSpaWorld Holdings Ltd. (b) 3,910   46,881
      107,681
Specialty Chemicals - 4.8%
Avient Corp. 4,093   168,468
HB Fuller Co. (a) 355   24,300
Ingevity Corp. (b) 5,635   403,015
Innospec, Inc. 1,120   114,990
Quaker Chemical Corp. 750   148,463
Sensient Technologies Corp. 1,320   101,059
Stepan Co. 2,607   268,599
      1,228,894
Steel - 0.6%
Carpenter Technology Corp. 756   33,838
Commercial Metals Co. 1,772   86,651
Ryerson Holding Corp. 852   30,996
      151,485
Systems Software - 0.5%
Progress Software Corp. 815   46,822
Tenable Holdings, Inc. (b) 1,850   87,893
      134,715
Technology Hardware, Storage & Peripherals - 1.0%
Corsair Gaming, Inc. (b) 3,311   60,757
 
See Notes to Schedule of Investments.
State Street Small-Cap Equity V.I.S. Fund 17

State Street Small-Cap Equity V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Pure Storage, Inc., Class A (b) 8,040   $205,100
      265,857
Timber REITs - 0.2%
PotlatchDeltic Corp. 943   46,679
Trading Companies & Distributors - 2.4%
Applied Industrial Technologies, Inc. 1,921   273,032
Transcat, Inc. (b) 540   48,270
Univar Solutions, Inc. (b) 7,324   256,560
WESCO International, Inc. (b) 259   40,026
      617,888
Transaction & Payment Processing Services - 0.3%
Shift4 Payments, Inc., Class A (b) 882   66,856
Water Utilities - 0.1%
American States Water Co. 370   32,889
Total Common Stock
(Cost $18,752,540)
    24,142,778
  Number
of Shares
  Fair
Value
Short-Term Investments - 7.0%
State Street Institutional U.S. Government Money Market Fund - Class G Shares 4.74% (c)(d)
(Cost $1,782,017)
1,782,017   $1,782,017
Total Investments
(Cost $20,534,557)
    25,924,795
Liabilities in Excess of Other Assets, net - (1.3)%     (330,243)
NET ASSETS - 100.0%     $25,594,552
 

Other Information:

The Fund had the following long futures contracts open at March 31, 2023:
    
Description   Expiration
Date
  Number of
Contracts
  Notional
Amount
  Value   Unrealized
Appreciation
(Depreciation)
E-mini Russell 2000 Index Futures   June 2023   5   $450,772   $453,375   $2,603
The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice. The securities cited may not be representative of the Fund’s future investments and should not be construed as a recommendation to purchase or sell a particular security. See the Fund’s summary prospectus and statutory prospectus for complete descriptions of investment objectives, policies, risks and permissible investments.
(a) At March 31, 2023, all or a portion of this security was pledged to cover collateral requirements for futures.
(b) Non-income producing security.
(c) Sponsored by SSGA Funds Management, Inc., the Fund’s investment adviser and administrator, and an affiliate of State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent.
(d) Coupon amount represents effective yield.
Percentages are based on net assets as of March 31, 2023.
* Less than 0.05%.
    
Abbreviations:
ADR - American Depositary Receipt
REIT - Real Estate Investment Trust
The following table presents the Fund’s investments measured at fair value on a recurring basis at March 31, 2023:
Investments Level 1   Level 2   Level 3   Total
Investments in Securities              
Common Stock $24,142,778   $—   $—   $24,142,778
Short-Term Investments 1,782,017       1,782,017
Total Investments in Securities $25,924,795   $—   $—   $25,924,795
Other Financial Instruments              
Long Futures Contracts - Unrealized Appreciation 2,603       2,603
Total Other Financial Instruments $2,603   $—   $—   $2,603
See Notes to Schedule of Investments.
18 State Street Small-Cap Equity V.I.S. Fund

State Street Small-Cap Equity V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
Affiliate Table
    
  Number
of Shares
Held at
12/31/22
  Value at
12/31/22
  Cost of
Purchases
  Proceeds
from
Shares
Sold
  Realized
Gain
(Loss)
  Change in
Unrealized
Appreciation
(Depreciation)
  Number of
Shares
Held at
3/31/23
  Value at
3/31/23
  Dividend
Income
State Street Institutional U.S. Government Money Market Fund - Class G Shares 1,061,790   $1,061,790   $3,303,505   $2,583,278   $—   $—   1,782,017   $1,782,017   $13,399
See Notes to Schedule of Investments.
State Street Small-Cap Equity V.I.S. Fund 19

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Bonds and Notes - 97.1% †
U.S. Treasuries - 29.2%
U.S. Treasury Bonds      
1.88%, 02/15/51 (a) $22,000   $15,032
2.25%, 08/15/46 (a) 137,000   103,328
3.00%, 08/15/48 - 08/15/52 (a) 399,400   349,221
3.38%, 08/15/42 (a) 104,300   97,961
4.75%, 02/15/37 (a) 164,900   187,934
U.S. Treasury Notes      
0.25%, 07/31/25 (a) 166,900   153,261
0.75%, 12/31/23 - 01/31/28 (a) 745,000   693,291
1.25%, 11/30/26 (a) 235,000   214,988
1.50%, 02/29/24 (a) 83,000   80,669
1.63%, 05/15/31 (a) 387,000   336,388
2.75%, 08/15/32 (a) 251,000   236,215
2.88%, 05/15/32 (a) 137,800   131,147
3.00%, 06/30/24 (a) 126,000   123,721
3.88%, 12/31/27 - 11/30/29 (a) 227,200   230,307
4.25%, 12/31/24 - 10/15/25 (a) 187,600   188,698
      3,142,161
Agency Mortgage Backed - 31.9%
Federal Home Loan Mortgage Corp.      
3.00%, 04/01/43 - 10/01/49 313,112   286,581
4.50%, 06/01/33 - 02/01/35 1,902   1,911
5.00%, 07/01/35 15,078   15,486
5.50%, 01/01/38 14,665   15,389
6.00%, 04/01/29 - 11/01/37 47,975   50,518
6.50%, 02/01/29 18   20
6.93%, 06/01/26 (a)(b) 60,000   64,979
7.00%, 12/01/29 - 08/01/36 12,079   12,860
7.50%, 01/01/30 - 09/01/33 1,437   1,496
8.00%, 11/01/30 2,468   2,606
8.50%, 04/01/30 2,418   2,707
Federal National Mortgage Association      
2.50%, 03/01/51 236,621   203,939
3.00%, 03/01/50 55,172   49,934
3.50%, 08/01/45 - 01/01/48 111,357   105,638
4.00%, 01/01/41 - 01/01/50 163,015   159,201
4.50%, 07/01/33 - 12/01/48 71,024   71,034
5.00%, 03/01/34 - 08/01/35 16,930   17,360
5.50%, 12/01/32 - 01/01/39 61,359   63,944
6.00%, 02/01/33 - 07/01/35 72,466   76,335
6.50%, 01/01/29 - 08/01/34 10,730   11,433
7.00%, 10/01/32 - 02/01/34 4,190   4,389
7.50%, 12/01/23 - 03/01/33 4,723   4,931
8.00%, 08/01/25 - 10/01/31 2,255   2,310
Federal National Mortgage Association 1.60% + 12 month USD LIBOR      
2.97%, 04/01/37 (c) 644   645
Federal National Mortgage Association, TBA      
2.00%, 04/13/53 (d) 784,111   647,880
2.50%, 04/13/53 (d) 323,157   278,441
3.00%, 04/13/53 (d) 137,325   123,104
3.50%, 04/13/53 (d) 68,183   63,304
4.00%, 04/13/53 (d) 240,420   229,821
4.50%, 04/13/53 (d) 202,997   198,803
  Principal
Amount
  Fair
Value
Government National Mortgage Association      
3.00%, 12/20/42 - 05/20/45 $259,469   $240,998
3.50%, 08/20/48 46,881   44,616
4.00%, 01/20/41 - 04/20/43 45,747   45,189
4.50%, 08/15/33 - 03/20/41 35,993   36,140
6.00%, 04/15/27 - 04/15/34 40,354   42,450
6.50%, 03/15/24 - 08/15/34 15,626   16,407
7.00%, 01/15/28 - 10/15/36 12,170   12,477
Government National Mortgage Association 1.50+ 1 year CMT Rate      
2.63%, 02/20/26 (c) 67   66
2.75%, 12/20/24 (c) 126   123
Government National Mortgage Association, TBA      
2.50%, 04/20/53 (d) 211,781   186,375
4.00%, 04/20/53 (d) 41,845   40,270
      3,432,110
Agency Collateralized Mortgage Obligations - 1.0%
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates      
2.51%, 07/25/29 55,001   49,842
4.05%, 09/25/28 (c) 31,000   30,737
Federal Home Loan Mortgage Corp. REMICS      
3.50%, 11/15/30 (e) 1,012   5
5.50%, 06/15/33 (e) 7,472   1,172
7.50%, 07/15/27 (e) 541   47
Federal Home Loan Mortgage Corp. STRIPS      
0.00%, 08/01/27 (f) 78   71
8.00%, 07/01/24 (e) 55   2
Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates      
0.08%, 09/25/43 (c)(e) 261,355   1,707
Federal National Mortgage Association Interest STRIPS      
0.00%, 12/25/34 (f) 6,490   5,097
4.50%, 08/25/35 - 01/25/36 (e) 7,076   911
5.00%, 03/25/38 - 05/25/38 (e) 4,450   688
5.50%, 12/25/33 (e) 2,066   384
6.00%, 01/25/35 (e) 3,677   649
7.50%, 11/25/23 (e) 77   1
8.00%, 07/25/24 (e) 102   4
Federal National Mortgage Association REMICS      
1.15%, 12/25/42 (c)(e) 13,464   468
5.00%, 09/25/40 (e) 3,629   375
Federal National Mortgage Association REMICS 6.00% - 1 month USD LIBOR      
1.15%, 07/25/38 (c)(e) 2,621   243
Federal National Mortgage Association REMICS 6.55% - 1 month USD LIBOR      
1.70%, 11/25/41 (c)(e) 123,408   15,398
      107,801
Asset Backed - 0.1%
Ford Credit Auto Owner Trust      
0.56%, 10/15/24 10,077   9,995
      9,995
 
20  

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Corporate Notes - 27.3%
3M Co.      
3.13%, 09/19/46 (a) $2,000   $1,442
7-Eleven, Inc.      
0.95%, 02/10/26 (a)(g) 5,000   4,493
Abbott Laboratories      
3.75%, 11/30/26 (a) 6,000   5,953
4.90%, 11/30/46 (a) 8,000   8,225
AbbVie, Inc.      
2.60%, 11/21/24 (a) 7,000   6,755
2.95%, 11/21/26 (a) 5,000   4,758
3.20%, 05/14/26 - 11/21/29 (a) 12,000   11,283
4.05%, 11/21/39 (a) 3,000   2,677
4.25%, 11/21/49 (a) 8,000   7,058
4.40%, 11/06/42 (a) 2,000   1,822
4.63%, 10/01/42 (a) 2,000   1,849
4.88%, 11/14/48 (a) 3,000   2,882
Advance Auto Parts, Inc.      
3.90%, 04/15/30 (a) 5,000   4,549
5.95%, 03/09/28 10,000   10,341
Advanced Micro Devices, Inc.      
4.39%, 06/01/52 (a) 3,000   2,790
AEP Texas, Inc.      
3.45%, 05/15/51 (a) 8,000   5,858
AEP Transmission Co. LLC      
5.40%, 03/15/53 5,000   5,208
Aetna, Inc.      
3.50%, 11/15/24 (a) 4,000   3,908
Aircastle Ltd.      
4.25%, 06/15/26 (a) 3,000   2,839
Alexandria Real Estate Equities, Inc.      
1.88%, 02/01/33 (a) 3,000   2,247
2.95%, 03/15/34 (a) 3,000   2,399
3.55%, 03/15/52 (a) 3,000   2,096
4.70%, 07/01/30 (a) 3,000   2,903
Allstate Corp.      
4.20%, 12/15/46 (a) 4,000   3,378
Allstate Corp. (5.75% fixed rate until 08/15/23; 2.94% + 3 month USD LIBOR thereafter)      
5.75%, 08/15/53 (a)(c) 9,000   8,759
Ally Financial, Inc.      
2.20%, 11/02/28 (a) 3,000   2,381
Altria Group, Inc.      
3.40%, 02/04/41 (a) 6,000   4,245
4.00%, 02/04/61 (a) 2,000   1,406
4.25%, 08/09/42 (a) 2,000   1,563
4.45%, 05/06/50 (a) 3,000   2,206
4.50%, 05/02/43 (a) 3,000   2,393
Amazon.com, Inc.      
1.50%, 06/03/30 (a) 2,000   1,664
2.50%, 06/03/50 (a) 3,000   2,031
2.70%, 06/03/60 (a) 3,000   1,969
2.88%, 05/12/41 (a) 4,000   3,142
3.15%, 08/22/27 (a) 2,000   1,920
3.25%, 05/12/61 (a) 3,000   2,207
4.05%, 08/22/47 (a) 3,000   2,727
Ameren Corp.      
3.65%, 02/15/26 (a) 5,000   4,816
American Electric Power Co., Inc.      
2.30%, 03/01/30 (a) 3,000   2,531
3.25%, 03/01/50 (a) 3,000   2,090
  Principal
Amount
  Fair
Value
American Tower Corp.      
1.50%, 01/31/28 (a) $4,000   $3,405
2.90%, 01/15/30 (a) 4,000   3,479
3.70%, 10/15/49 (a) 3,000   2,175
3.80%, 08/15/29 (a) 4,000   3,719
American Water Capital Corp.      
2.95%, 09/01/27 (a) 8,000   7,527
Amgen, Inc.      
2.45%, 02/21/30 (a) 2,000   1,743
3.00%, 01/15/52 (a) 4,000   2,746
3.15%, 02/21/40 (a) 5,000   3,922
5.51%, 03/02/26 5,000   5,024
5.60%, 03/02/43 5,000   5,156
5.65%, 03/02/53 5,000   5,204
5.75%, 03/02/63 5,000   5,187
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.      
4.70%, 02/01/36 (a) 7,000   6,953
4.90%, 02/01/46 (a) 8,000   7,817
Anheuser-Busch InBev Worldwide, Inc.      
3.50%, 06/01/30 (a) 5,000   4,716
4.35%, 06/01/40 (a) 5,000   4,654
4.38%, 04/15/38 (a) 8,000   7,589
4.50%, 06/01/50 (a) 3,000   2,806
4.75%, 04/15/58 (a) 6,000   5,666
5.55%, 01/23/49 (a) 2,000   2,160
Aon Corp./Aon Global Holdings PLC      
2.90%, 08/23/51 (a) 4,000   2,665
Apollo Management Holdings LP      
2.65%, 06/05/30 (a)(g) 4,000   3,354
Apollo Management Holdings LP (4.95% fixed rate until 12/17/24; 3.27% + 5 year CMT Rate thereafter)      
4.95%, 01/14/50 (a)(c)(g) 5,000   4,067
Apple, Inc.      
2.20%, 09/11/29 (a) 3,000   2,685
2.65%, 02/08/51 (a) 6,000   4,208
2.80%, 02/08/61 (a) 2,000   1,362
2.95%, 09/11/49 (a) 3,000   2,267
3.45%, 02/09/45 (a) 4,000   3,436
3.95%, 08/08/52 (a) 3,000   2,689
Applied Materials, Inc.      
4.35%, 04/01/47 (a) 4,000   3,744
Aptiv PLC      
4.40%, 10/01/46 (a) 3,000   2,379
ArcelorMittal SA      
6.80%, 11/29/32 (a) 4,000   4,198
Archer-Daniels-Midland Co.      
2.50%, 08/11/26 (a) 4,000   3,774
Ares Capital Corp.      
2.88%, 06/15/28 (a) 3,000   2,477
Arthur J Gallagher & Co.      
3.50%, 05/20/51 (a) 3,000   2,162
Ascension Health      
4.85%, 11/15/53 (a) 7,000   6,940
Astrazeneca Finance LLC      
1.75%, 05/28/28 (a) 8,000   7,098
AstraZeneca PLC      
3.00%, 05/28/51 (a) 5,000   3,795
4.00%, 01/17/29 (a) 3,000   2,956
4.38%, 08/17/48 (a) 2,000   1,898
 
  21

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
AT&T, Inc.      
2.75%, 06/01/31 (a) $10,000   $8,608
3.65%, 06/01/51 9,000   6,812
3.85%, 06/01/60 (a) 7,000   5,246
4.35%, 03/01/29 (a) 2,000   1,958
4.50%, 05/15/35 (a) 3,000   2,813
4.55%, 03/09/49 (a) 2,000   1,739
4.75%, 05/15/46 (a) 2,000   1,800
Athene Holding Ltd.      
4.13%, 01/12/28 (a) 4,000   3,629
6.15%, 04/03/30 (a) 5,000   4,994
Avangrid, Inc.      
3.15%, 12/01/24 (a) 6,000   5,816
Bain Capital Specialty Finance, Inc.      
2.95%, 03/10/26 (a) 6,000   5,307
Bank of America Corp.      
3.25%, 10/21/27 (a) 3,000   2,827
4.18%, 11/25/27 (a) 4,000   3,869
4.25%, 10/22/26 (a) 4,000   3,880
Bank of America Corp. (2.09% fixed rate until 06/14/28; 1.06% + SOFR thereafter)      
2.09%, 06/14/29 (a)(c) 3,000   2,581
Bank of America Corp. (2.97% fixed rate until 07/21/51; 1.56% + SOFR thereafter)      
2.97%, 07/21/52 (a)(c) 7,000   4,718
Bank of America Corp. (3.37% fixed rate until 01/23/25; 0.81% + 3 month USD LIBOR thereafter)      
3.37%, 01/23/26 (a)(c) 2,000   1,924
Bank of America Corp. (3.71% fixed rate until 04/24/27; 1.51% + 3 month USD LIBOR thereafter)      
3.71%, 04/24/28 (a)(c) 4,000   3,784
Bank of America Corp. (3.85% fixed rate until 03/08/32; 2.00% + 5 year CMT Rate thereafter)      
3.85%, 03/08/37 (a)(c) 4,000   3,434
Bank of America Corp. (3.95% fixed rate until 01/23/48; 1.19% + 3 month USD LIBOR thereafter)      
3.95%, 01/23/49 (a)(c) 4,000   3,228
Bank of America Corp. (4.30% fixed rate until 01/28/25; 2.66% + 3 month USD LIBOR thereafter)      
4.30%, 01/28/25 (a)(c) 7,000   6,307
Bank of New York Mellon Corp. (4.63% fixed rate until 09/20/26; 3.13% + 3 month USD LIBOR thereafter)      
4.63%, 09/20/26 (a)(c) 5,000   4,569
Bank of Nova Scotia (7.45% fixed rate until 07/12/23; 2.65% + 3 month USD LIBOR thereafter)      
7.45%, 07/12/23 (a)(c) 8,000   7,124
Barrick North America Finance LLC      
5.70%, 05/30/41 (a) 3,000   3,153
BAT Capital Corp.      
2.73%, 03/25/31 (a) 4,000   3,245
4.39%, 08/15/37 (a) 3,000   2,449
4.54%, 08/15/47 (a) 2,000   1,487
4.70%, 04/02/27 (a) 3,000   2,944
  Principal
Amount
  Fair
Value
4.91%, 04/02/30 (a) $4,000   $3,859
BAT International Finance PLC      
1.67%, 03/25/26 (a) 3,000   2,732
Becton Dickinson & Co.      
3.70%, 06/06/27 (a) 7,000   6,766
4.67%, 06/06/47 (a) 3,000   2,798
4.69%, 12/15/44 (a) 2,000   1,862
Berkshire Hathaway Energy Co.      
3.25%, 04/15/28 (a) 2,000   1,912
3.70%, 07/15/30 (a) 3,000   2,851
3.80%, 07/15/48 (a) 3,000   2,423
4.25%, 10/15/50 (a) 2,000   1,725
6.13%, 04/01/36 (a) 3,000   3,308
Berkshire Hathaway Finance Corp.      
2.85%, 10/15/50 (a) 6,000   4,237
4.25%, 01/15/49 (a) 4,000   3,690
Berry Global, Inc.      
4.88%, 07/15/26 (a)(g) 6,000   5,849
BHP Billiton Finance USA Ltd.      
4.90%, 02/28/33 3,000   3,052
Biogen, Inc.      
2.25%, 05/01/30 (a) 3,000   2,525
Block Financial LLC      
2.50%, 07/15/28 (a) 3,000   2,585
3.88%, 08/15/30 (a) 3,000   2,593
Boardwalk Pipelines LP      
4.80%, 05/03/29 (a) 4,000   3,923
Boeing Co.      
2.70%, 02/01/27 (a) 4,000   3,690
2.95%, 02/01/30 (a) 4,000   3,523
3.25%, 03/01/28 (a) 3,000   2,763
3.75%, 02/01/50 (a) 2,000   1,510
5.04%, 05/01/27 (a) 5,000   5,036
5.15%, 05/01/30 (a) 5,000   5,032
5.81%, 05/01/50 (a) 3,000   3,016
Boston Properties LP      
6.75%, 12/01/27 (a) 5,000   4,953
BP Capital Markets America, Inc.      
3.00%, 02/24/50 (a) 4,000   2,835
3.38%, 02/08/61 (a) 5,000   3,603
4.81%, 02/13/33 5,000   5,077
BP Capital Markets PLC (4.88% fixed rate until 03/22/30; 4.40% + 5 year CMT Rate thereafter)      
4.88%, 03/22/30 (a)(c) 7,000   6,325
Bristol-Myers Squibb Co.      
1.45%, 11/13/30 (a) 2,000   1,636
2.35%, 11/13/40 (a) 2,000   1,441
2.95%, 03/15/32 (a) 5,000   4,509
3.20%, 06/15/26 (a) 2,000   1,934
3.40%, 07/26/29 (a) 2,000   1,899
4.13%, 06/15/39 (a) 3,000   2,793
4.25%, 10/26/49 (a) 3,000   2,722
4.55%, 02/20/48 (a) 2,000   1,892
Brixmor Operating Partnership LP      
2.25%, 04/01/28 (a) 6,000   5,151
Broadcom, Inc.      
3.14%, 11/15/35 (a)(g) 3,000   2,312
3.42%, 04/15/33 (a)(g) 10,000   8,365
3.47%, 04/15/34 (a)(g) 2,000   1,643
4.15%, 11/15/30 (a) 4,000   3,708
4.30%, 11/15/32 (a) 4,000   3,676
 
22  

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Brooklyn Union Gas Co.      
4.87%, 08/05/32 (a)(g) $11,000   $10,578
Brown-Forman Corp.      
4.00%, 04/15/38 (a) 2,000   1,827
Bunge Ltd. Finance Corp.      
3.75%, 09/25/27 (a) 3,000   2,883
Burlington Northern Santa Fe LLC      
4.15%, 12/15/48 (a) 4,000   3,525
4.55%, 09/01/44 (a) 5,000   4,736
Canadian Natural Resources Ltd.      
3.85%, 06/01/27 (a) 3,000   2,872
4.95%, 06/01/47 (a) 4,000   3,617
Canadian Pacific Railway Co.      
1.75%, 12/02/26 (a) 3,000   2,725
Cantor Fitzgerald LP      
4.88%, 05/01/24 (a)(g) 5,000   4,864
Capital One Financial Corp.      
3.75%, 07/28/26 (a) 5,000   4,548
Cardinal Health, Inc.      
3.08%, 06/15/24 (a) 4,000   3,909
Carlisle Cos., Inc.      
2.20%, 03/01/32 (a) 5,000   3,884
Carrier Global Corp.      
2.72%, 02/15/30 (a) 3,000   2,635
3.58%, 04/05/50 (a) 3,000   2,271
Caterpillar, Inc.      
3.25%, 09/19/49 - 04/09/50 (a) 6,000   4,772
Cenovus Energy, Inc.      
2.65%, 01/15/32 (a) 3,000   2,477
3.75%, 02/15/52 (a) 3,000   2,184
Centene Corp.      
3.00%, 10/15/30 (a) 3,000   2,525
3.38%, 02/15/30 (a) 14,000   12,261
4.25%, 12/15/27 (a) 23,000   22,157
CenterPoint Energy, Inc.      
2.65%, 06/01/31 (a) 5,000   4,234
Charles Schwab Corp.      
2.45%, 03/03/27 (a) 3,000   2,693
Charles Schwab Corp. (4.00% fixed rate until 12/01/30; 3.08% + 10 year CMT Rate thereafter)      
4.00%, 12/01/30 (a)(c) 8,000   6,300
Charter Communications Operating LLC/Charter Communications Operating Capital      
3.50%, 06/01/41 (a) 4,000   2,735
3.70%, 04/01/51 (a) 15,000   9,578
4.80%, 03/01/50 (a) 5,000   3,804
5.05%, 03/30/29 (a) 6,000   5,795
5.75%, 04/01/48 (a) 3,000   2,576
Cheniere Corpus Christi Holdings LLC      
5.88%, 03/31/25 (a) 5,000   5,036
Cheniere Energy Partners LP      
4.50%, 10/01/29 (a) 9,000   8,396
Chevron USA, Inc.      
3.85%, 01/15/28 (a) 4,000   3,951
3.90%, 11/15/24 (a) 4,000   3,984
Chubb INA Holdings, Inc.      
4.35%, 11/03/45 (a) 4,000   3,678
Church & Dwight Co., Inc.      
2.30%, 12/15/31 (a) 3,000   2,510
  Principal
Amount
  Fair
Value
Cigna Group      
2.40%, 03/15/30 (a) $3,000   $2,603
3.25%, 04/15/25 (a) 7,000   6,785
3.40%, 03/01/27 (a) 5,000   4,784
3.88%, 10/15/47 (a) 2,000   1,612
4.13%, 11/15/25 (a) 5,000   4,923
4.38%, 10/15/28 (a) 3,000   2,955
4.80%, 08/15/38 (a) 3,000   2,910
Cisco Systems, Inc.      
5.90%, 02/15/39 (a) 3,000   3,386
Citigroup, Inc.      
4.45%, 09/29/27 (a) 4,000   3,879
4.65%, 07/23/48 (a) 9,000   8,338
Citigroup, Inc. (2.98% fixed rate until 11/05/29; 1.42% + SOFR thereafter)      
2.98%, 11/05/30 (a)(c) 6,000   5,259
Citigroup, Inc. (3.88% fixed rate until 01/24/38; 1.43% + 1 month Term SOFR)      
3.88%, 01/24/39 (a)(c) 6,000   5,101
Citigroup, Inc. (4.70% fixed rate until 01/30/25; 3.23% + SOFR thereafter)      
4.70%, 01/30/25 (a)(c) 6,000   5,263
Cleveland Electric Illuminating Co.      
4.55%, 11/15/30 (a)(g) 6,000   5,828
Clorox Co.      
1.80%, 05/15/30 (a) 4,000   3,309
CME Group, Inc.      
3.75%, 06/15/28 (a) 2,000   1,961
CMS Energy Corp.      
4.88%, 03/01/44 (a) 7,000   6,424
CNH Industrial Capital LLC      
1.95%, 07/02/23 (a) 5,000   4,947
Coca-Cola Co.      
2.60%, 06/01/50 (a) 3,000   2,139
2.75%, 06/01/60 (a) 3,000   2,128
Comcast Corp.      
2.80%, 01/15/51 (a) 3,000   2,027
2.94%, 11/01/56 (a) 5,000   3,332
2.99%, 11/01/63 (a) 3,000   1,947
3.20%, 07/15/36 (a) 3,000   2,528
3.25%, 11/01/39 (a) 3,000   2,426
3.97%, 11/01/47 (a) 3,000   2,531
4.15%, 10/15/28 (a) 3,000   2,968
CommonSpirit Health      
4.35%, 11/01/42 16,000   13,677
Conagra Brands, Inc.      
5.30%, 11/01/38 (a) 3,000   2,944
5.40%, 11/01/48 (a) 2,000   1,959
ConocoPhillips Co.      
4.30%, 11/15/44 (a) 4,000   3,596
Consolidated Edison Co. of New York, Inc.      
3.35%, 04/01/30 (a) 3,000   2,767
3.88%, 06/15/47 (a) 2,000   1,631
3.95%, 04/01/50 (a) 3,000   2,495
Constellation Brands, Inc.      
3.15%, 08/01/29 (a) 4,000   3,659
3.70%, 12/06/26 (a) 4,000   3,874
4.50%, 05/09/47 (a) 4,000   3,505
Continental Resources, Inc.      
2.88%, 04/01/32 (a)(g) 3,000   2,329
3.80%, 06/01/24 (a) 10,000   9,795
4.50%, 04/15/23 (a) 5,000   4,996
 
  23

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Corebridge Financial, Inc.      
3.90%, 04/05/32 (a)(g) $15,000   $12,975
Corning, Inc.      
4.38%, 11/15/57 (a) 2,000   1,701
Corporate Office Properties LP      
2.00%, 01/15/29 (a) 5,000   3,874
2.25%, 03/15/26 (a) 3,000   2,668
2.75%, 04/15/31 (a) 3,000   2,223
Crown Castle, Inc.      
2.90%, 03/15/27 (a) 8,000   7,417
4.15%, 07/01/50 (a) 3,000   2,399
5.20%, 02/15/49 (a) 4,000   3,707
CSL Finance PLC      
4.25%, 04/27/32 (a)(g) 6,000   5,813
CSX Corp.      
4.50%, 03/15/49 - 08/01/54 (a) 10,000   8,967
CubeSmart LP      
2.50%, 02/15/32 (a) 3,000   2,413
4.38%, 02/15/29 (a) 3,000   2,873
CVS Health Corp.      
3.00%, 08/15/26 (a) 4,000   3,817
3.25%, 08/15/29 (a) 3,000   2,744
3.63%, 04/01/27 (a) 3,000   2,891
3.75%, 04/01/30 (a) 3,000   2,806
4.25%, 04/01/50 (a) 3,000   2,497
4.78%, 03/25/38 (a) 3,000   2,858
5.00%, 12/01/24 (a) 6,000   5,990
5.13%, 07/20/45 (a) 2,000   1,895
5.30%, 12/05/43 (a) 4,000   3,930
Danaher Corp.      
2.80%, 12/10/51 (a) 9,000   6,309
Dell International LLC/EMC Corp.      
4.00%, 07/15/24 (a) 4,000   3,943
5.45%, 06/15/23 (a) 2,000   1,999
6.02%, 06/15/26 (a) 3,000   3,079
Devon Energy Corp.      
5.00%, 06/15/45 (a) 4,000   3,559
DH Europe Finance II Sarl      
2.60%, 11/15/29 (a) 2,000   1,789
3.25%, 11/15/39 (a) 3,000   2,513
3.40%, 11/15/49 (a) 3,000   2,368
Diamondback Energy, Inc.      
3.13%, 03/24/31 (a) 4,000   3,464
3.50%, 12/01/29 (a) 3,000   2,747
4.40%, 03/24/51 (a) 3,000   2,416
Digital Realty Trust LP      
3.60%, 07/01/29 (a) 6,000   5,373
Discovery Communications LLC      
3.95%, 03/20/28 (a) 4,000   3,748
4.95%, 05/15/42 (a) 2,000   1,633
5.00%, 09/20/37 (a) 3,000   2,647
Dollar General Corp.      
3.50%, 04/03/30 (a) 4,000   3,680
4.13%, 04/03/50 (a) 4,000   3,254
Dollar Tree, Inc.      
4.00%, 05/15/25 (a) 5,000   4,904
Dominion Energy, Inc.      
3.07%, 08/15/24 (a)(b) 5,000   4,860
3.38%, 04/01/30 (a) 6,000   5,438
Dover Corp.      
2.95%, 11/04/29 (a) 3,000   2,678
  Principal
Amount
  Fair
Value
Dow Chemical Co.      
2.10%, 11/15/30 (a) $5,000   $4,180
3.60%, 11/15/50 (a) 3,000   2,244
4.25%, 10/01/34 (a) 3,000   2,790
6.30%, 03/15/33 (a) 3,000   3,264
DTE Energy Co.      
2.85%, 10/01/26 (a) 7,000   6,556
Duke Energy Carolinas LLC      
3.95%, 03/15/48 (a) 3,000   2,504
Duke Energy Corp.      
2.55%, 06/15/31 (a) 6,000   5,016
3.30%, 06/15/41 (a) 7,000   5,279
3.50%, 06/15/51 (a) 7,000   5,140
3.75%, 09/01/46 (a) 5,000   3,900
Duke Energy Corp. (4.88% fixed rate until 09/16/24; 3.39% + 5 year CMT Rate thereafter)      
4.88%, 09/16/24 (a)(c) 9,000   8,626
Duke Energy Progress LLC      
4.15%, 12/01/44 (a) 9,000   7,753
Duquesne Light Holdings, Inc.      
3.62%, 08/01/27 (a)(g) 7,000   6,352
Eastman Chemical Co.      
4.65%, 10/15/44 (a) 4,000   3,465
Eaton Corp.      
3.10%, 09/15/27 (a) 2,000   1,894
Edison International      
4.95%, 04/15/25 (a) 8,000   7,947
EIDP, Inc.      
2.30%, 07/15/30 (a) 4,000   3,448
Electronic Arts, Inc.      
1.85%, 02/15/31 (a) 3,000   2,469
Elevance Health, Inc.      
2.88%, 09/15/29 (a) 3,000   2,720
3.60%, 03/15/51 (a) 3,000   2,347
3.70%, 09/15/49 (a) 3,000   2,375
Emera U.S. Finance LP      
2.64%, 06/15/31 (a) 8,000   6,435
Emerson Electric Co.      
1.80%, 10/15/27 (a) 2,000   1,791
2.75%, 10/15/50 (a) 2,000   1,348
Enbridge Energy Partners LP      
5.50%, 09/15/40 (a) 2,000   1,935
Enbridge, Inc.      
1.60%, 10/04/26 (a) 5,000   4,484
Enbridge, Inc. (5.75% fixed rate until 04/15/30; 5.31% + 5 year CMT Rate thereafter)      
5.75%, 07/15/80 (a)(c) 9,000   8,032
Energy Transfer LP      
4.50%, 04/15/24 (a) 2,000   1,977
4.95%, 06/15/28 (a) 4,000   3,974
5.30%, 04/01/44 - 04/15/47 (a) 7,000   6,156
5.35%, 05/15/45 (a) 4,000   3,537
5.75%, 02/15/33 (a) 3,000   3,063
6.50%, 02/01/42 (a) 4,000   4,153
Energy Transfer LP (6.75% fixed rate until 05/15/25; 5.13% + 5 year CMT Rate thereafter)      
6.75%, 05/15/25 (a)(c) 19,000   16,771
Energy Transfer LP/Regency Energy Finance Corp.      
4.50%, 11/01/23 (a) 4,000   3,969
 
24  

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Enterprise Products Operating LLC      
4.25%, 02/15/48 (a) $6,000   $5,115
Enterprise Products Operating LLC (5.25% fixed rate until 08/16/27; 3.03% + 3 month USD LIBOR thereafter)      
5.25%, 08/16/77 (a)(c) 3,000   2,552
EOG Resources, Inc.      
4.95%, 04/15/50 (a) 3,000   3,018
5.10%, 01/15/36 (a) 2,000   1,993
Equinix, Inc.      
1.25%, 07/15/25 (a) 5,000   4,585
2.15%, 07/15/30 (a) 4,000   3,268
Equinor ASA      
3.25%, 11/18/49 (a) 4,000   3,082
ERP Operating LP      
4.50%, 07/01/44 (a) 8,000   6,996
Estee Lauder Cos., Inc.      
2.38%, 12/01/29 (a) 3,000   2,654
Everest Reinsurance Holdings, Inc.      
3.13%, 10/15/52 (a) 3,000   2,026
Eversource Energy      
3.45%, 01/15/50 (a) 5,000   3,818
Exelon Corp.      
4.05%, 04/15/30 (a) 5,000   4,767
4.45%, 04/15/46 (a) 5,000   4,316
4.70%, 04/15/50 (a) 4,000   3,628
Exxon Mobil Corp.      
2.61%, 10/15/30 (a) 4,000   3,593
3.45%, 04/15/51 (a) 4,000   3,193
FedEx Corp.      
4.10%, 02/01/45 (a) 6,000   4,956
Fidelity National Information Services, Inc.      
1.15%, 03/01/26 (a) 4,000   3,572
1.65%, 03/01/28 (a) 3,000   2,564
FirstEnergy Transmission LLC      
4.55%, 04/01/49 (a)(g) 7,000   5,892
Fiserv, Inc.      
3.50%, 07/01/29 (a) 3,000   2,784
4.40%, 07/01/49 (a) 3,000   2,551
Florida Power & Light Co.      
2.85%, 04/01/25 (a) 7,000   6,791
4.13%, 02/01/42 (a) 6,000   5,308
Flowers Foods, Inc.      
2.40%, 03/15/31 (a) 3,000   2,503
Flowserve Corp.      
2.80%, 01/15/32 (a) 5,000   3,971
Fox Corp.      
3.50%, 04/08/30 (a) 4,000   3,648
Freeport-McMoRan, Inc.      
4.25%, 03/01/30 (a) 3,000   2,784
GA Global Funding Trust      
1.63%, 01/15/26 (a)(g) 3,000   2,705
General Dynamics Corp.      
4.25%, 04/01/50 (a) 3,000   2,805
General Mills, Inc.      
3.00%, 02/01/51 (a) 3,000   2,191
General Motors Co.      
5.20%, 04/01/45 (a) 3,000   2,517
5.40%, 04/01/48 (a) 2,000   1,728
6.13%, 10/01/25 (a) 4,000   4,070
6.80%, 10/01/27 (a) 3,000   3,173
  Principal
Amount
  Fair
Value
General Motors Financial Co., Inc.      
1.25%, 01/08/26 (a) $2,000   $1,801
2.35%, 01/08/31 (a) 4,000   3,159
5.25%, 03/01/26 (a) 8,000   8,001
Genuine Parts Co.      
2.75%, 02/01/32 (a) 3,000   2,493
George Washington University      
4.13%, 09/15/48 8,000   7,150
Georgia-Pacific LLC      
1.75%, 09/30/25 (a)(g) 4,000   3,707
3.60%, 03/01/25 (a)(g) 9,000   8,761
Gilead Sciences, Inc.      
2.60%, 10/01/40 (a) 2,000   1,474
2.80%, 10/01/50 (a) 4,000   2,765
3.50%, 02/01/25 (a) 4,000   3,923
3.65%, 03/01/26 (a) 2,000   1,959
4.15%, 03/01/47 (a) 5,000   4,392
4.75%, 03/01/46 (a) 3,000   2,882
GlaxoSmithKline Capital PLC      
3.38%, 06/01/29 (a) 5,000   4,750
GlaxoSmithKline Capital, Inc.      
3.63%, 05/15/25 (a) 6,000   5,928
Glencore Funding LLC      
3.88%, 04/27/51 (a)(g) 4,000   3,063
Goldman Sachs Group, Inc.      
3.85%, 01/26/27 (a) 4,000   3,862
4.25%, 10/21/25 (a) 2,000   1,943
5.15%, 05/22/45 (a) 3,000   2,850
Goldman Sachs Group, Inc. (2.38% fixed rate until 07/21/31; 1.25% + SOFR thereafter)      
2.38%, 07/21/32 (a)(c) 5,000   4,067
Goldman Sachs Group, Inc. (2.91% fixed rate until 07/21/41; 1.47% + SOFR thereafter)      
2.91%, 07/21/42 (a)(c) 5,000   3,582
Goldman Sachs Group, Inc. (3.21% fixed rate until 04/22/41; 1.51% + SOFR thereafter)      
3.21%, 04/22/42 (a)(c) 5,000   3,765
Goldman Sachs Group, Inc. (3.44% fixed rate until 02/24/42; 1.63% + SOFR thereafter)      
3.44%, 02/24/43 (a)(c) 6,000   4,622
Goldman Sachs Group, Inc. (3.81% fixed rate until 04/23/28; 1.16% + 3 month USD LIBOR thereafter)      
3.81%, 04/23/29 (a)(c) 4,000   3,763
Goldman Sachs Group, Inc. (4.02% fixed rate until 10/31/37; 1.37% + 3 month USD LIBOR thereafter)      
4.02%, 10/31/38 (a)(c) 2,000   1,729
Goldman Sachs Group, Inc. (4.22% fixed rate until 05/01/28; 1.30% + 3 month USD LIBOR thereafter)      
4.22%, 05/01/29 (a)(c) 4,000   3,817
Graphic Packaging International LLC      
1.51%, 04/15/26 (a)(g) 6,000   5,342
Gray Oak Pipeline LLC      
2.00%, 09/15/23 (a)(g) 5,000   4,915
2.60%, 10/15/25 (a)(g) 6,000   5,572
 
  25

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Halliburton Co.      
5.00%, 11/15/45 (a) $4,000   $3,643
Hartford Financial Services Group, Inc. 2.13% + 3 month USD LIBOR      
6.99%, 02/12/67 (a)(c)(g) 4,000   3,249
HCA, Inc.      
3.13%, 03/15/27 (a)(g) 10,000   9,298
3.50%, 09/01/30 (a) 5,000   4,454
3.63%, 03/15/32 (a)(g) 5,000   4,398
5.38%, 02/01/25 (a) 21,000   21,007
Health Care Service Corp. A Mutual Legal Reserve Co.      
2.20%, 06/01/30 (a)(g) 3,000   2,506
3.20%, 06/01/50 (a)(g) 4,000   2,903
Healthcare Realty Holdings LP      
2.00%, 03/15/31 (a) 3,000   2,333
Helmerich & Payne, Inc.      
2.90%, 09/29/31 (a) 3,000   2,484
Hess Corp.      
5.60%, 02/15/41 2,000   1,929
5.80%, 04/01/47 (a) 2,000   1,957
Hewlett Packard Enterprise Co.      
6.35%, 10/15/45 (a) 3,000   3,155
Highwoods Realty LP      
4.13%, 03/15/28 (a) 3,000   2,605
4.20%, 04/15/29 (a) 4,000   3,398
Home Depot, Inc.      
2.70%, 04/15/30 (a) 2,000   1,807
3.35%, 04/15/50 (a) 3,000   2,326
3.50%, 09/15/56 (a) 3,000   2,338
3.90%, 12/06/28 (a) 4,000   3,940
4.50%, 12/06/48 (a) 2,000   1,883
Honeywell International, Inc.      
1.75%, 09/01/31 (a) 5,000   4,104
2.70%, 08/15/29 (a) 2,000   1,843
Hormel Foods Corp.      
1.80%, 06/11/30 (a) 5,000   4,179
Humana, Inc.      
1.35%, 02/03/27 (a) 3,000   2,637
2.15%, 02/03/32 (a) 3,000   2,427
Huntington Bancshares, Inc.      
2.55%, 02/04/30 (a) 5,000   3,959
Huntsman International LLC      
4.50%, 05/01/29 (a) 4,000   3,757
Hyundai Capital America      
1.30%, 01/08/26 (a)(g) 6,000   5,389
Indiana Michigan Power Co.      
3.25%, 05/01/51 (a) 5,000   3,523
Ingredion, Inc.      
3.90%, 06/01/50 (a) 2,000   1,526
Intel Corp.      
2.00%, 08/12/31 (a) 4,000   3,291
2.45%, 11/15/29 (a) 6,000   5,283
2.80%, 08/12/41 (a) 3,000   2,181
3.10%, 02/15/60 (a) 3,000   1,973
5.63%, 02/10/43 3,000   3,073
5.70%, 02/10/53 3,000   3,056
5.90%, 02/10/63 3,000   3,085
Intercontinental Exchange, Inc.      
1.85%, 09/15/32 (a) 2,000   1,576
2.65%, 09/15/40 (a) 2,000   1,451
Interstate Power & Light Co.      
3.40%, 08/15/25 (a) 8,000   7,608
  Principal
Amount
  Fair
Value
ITC Holdings Corp.      
2.95%, 05/14/30 (a)(g) $6,000   $5,286
Jabil, Inc.      
3.95%, 01/12/28 (a) 2,000   1,884
4.25%, 05/15/27 (a) 8,000   7,717
Jacobs Engineering Group, Inc.      
5.90%, 03/01/33 15,000   15,026
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.      
5.13%, 02/01/28 (g) 6,000   5,809
5.75%, 04/01/33 (g) 3,000   2,882
John Deere Capital Corp.      
2.45%, 01/09/30 (a) 9,000   8,007
Johnson & Johnson      
3.63%, 03/03/37 (a) 3,000   2,775
Johnson Controls International PLC      
4.50%, 02/15/47 (a) 3,000   2,640
JPMorgan Chase & Co. (2.96% fixed rate until 05/13/30; 2.52% + SOFR thereafter)      
2.96%, 05/13/31 (a)(c) 3,000   2,583
JPMorgan Chase & Co. (3.16% fixed rate until 04/22/41; 1.46% + SOFR thereafter)      
3.16%, 04/22/42 (a)(c) 4,000   3,044
JPMorgan Chase & Co. (3.88% fixed rate until 07/24/37; 1.36% + 3 month USD LIBOR thereafter)      
3.88%, 07/24/38 (a)(c) 2,000   1,761
JPMorgan Chase & Co. (3.90% fixed rate until 01/23/48; 1.22% + 3 month USD LIBOR thereafter)      
3.90%, 01/23/49 (a)(c) 10,000   8,187
JPMorgan Chase & Co. (4.01% fixed rate until 04/23/28; 1.12% + 3 month USD LIBOR thereafter)      
4.01%, 04/23/29 (a)(c) 4,000   3,822
JPMorgan Chase & Co. (4.03% fixed rate until 07/24/47; 1.46% + 3 month USD LIBOR thereafter)      
4.03%, 07/24/48 (a)(c) 3,000   2,524
JPMorgan Chase & Co. (4.49% fixed rate until 03/24/30; 3.79% + 1 month Term SOFR)      
4.49%, 03/24/31 (a)(c) 4,000   3,889
JPMorgan Chase & Co. (4.60% fixed rate until 02/01/25; 3.13% + 1 month Term SOFR)      
4.60%, 02/01/25 (a)(c) 6,000   5,605
Kaiser Foundation Hospitals      
3.00%, 06/01/51 (a) 5,000   3,533
Kansas City Southern      
3.50%, 05/01/50 (a) 3,000   2,263
Kenvue, Inc.      
4.90%, 03/22/33 (g) 26,000   26,854
5.05%, 03/22/53 (g) 5,000   5,156
Keurig Dr Pepper, Inc.      
3.20%, 05/01/30 (a) 3,000   2,736
3.80%, 05/01/50 (a) 2,000   1,593
 
26  

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Kinder Morgan Energy Partners LP      
4.70%, 11/01/42 (a) $2,000   $1,710
5.00%, 03/01/43 (a) 2,000   1,760
6.38%, 03/01/41 (a) 4,000   4,126
Kinder Morgan, Inc.      
1.75%, 11/15/26 (a) 8,000   7,208
5.05%, 02/15/46 (a) 8,000   7,039
5.20%, 06/01/33 3,000   2,980
KLA Corp.      
3.30%, 03/01/50 (a) 3,000   2,294
Kraft Heinz Foods Co.      
5.20%, 07/15/45 (a) 4,000   3,880
L3Harris Technologies, Inc.      
3.85%, 12/15/26 (a) 4,000   3,904
Lear Corp.      
4.25%, 05/15/29 (a) 3,000   2,840
Leidos, Inc.      
3.63%, 05/15/25 (a) 3,000   2,917
4.38%, 05/15/30 (a) 5,000   4,710
5.75%, 03/15/33 3,000   3,066
Liberty Mutual Group, Inc.      
3.95%, 05/15/60 (a)(g) 3,000   2,137
Life Storage LP      
2.20%, 10/15/30 (a) 6,000   4,917
Lincoln National Corp.      
4.35%, 03/01/48 (a) 6,000   4,571
Lincoln National Corp. (9.25% fixed rate until 12/01/27; 5.32% + 5 year CMT Rate thereafter)      
9.25%, 12/01/27 (a)(c) 5,000   4,990
Lockheed Martin Corp.      
4.50%, 05/15/36 (a) 3,000   2,968
Lowe's Cos., Inc.      
1.30%, 04/15/28 (a) 3,000   2,577
1.70%, 09/15/28 - 10/15/30 (a) 6,000   5,027
3.00%, 10/15/50 (a) 3,000   1,992
4.05%, 05/03/47 (a) 4,000   3,236
5.63%, 04/15/53 (a) 4,000   4,020
LYB International Finance III LLC      
3.63%, 04/01/51 (a) 3,000   2,133
Masco Corp.      
3.50%, 11/15/27 (a) 2,000   1,893
McCormick & Co., Inc.      
1.85%, 02/15/31 (a) 3,000   2,407
3.25%, 11/15/25 (a) 7,000   6,644
McDonald's Corp.      
3.60%, 07/01/30 (a) 7,000   6,642
3.63%, 09/01/49 (a) 3,000   2,400
4.88%, 12/09/45 (a) 7,000   6,784
Medtronic Global Holdings SCA      
4.50%, 03/30/33 16,000   16,012
Medtronic, Inc.      
4.63%, 03/15/45 (a) 2,000   1,959
Memorial Sloan-Kettering Cancer Center      
4.13%, 07/01/52 (a) 7,000   6,165
Merck & Co., Inc.      
1.90%, 12/10/28 (a) 10,000   8,890
2.45%, 06/24/50 (a) 3,000   2,018
2.75%, 02/10/25 - 12/10/51 (a) 10,000   8,973
4.00%, 03/07/49 (a) 2,000   1,796
  Principal
Amount
  Fair
Value
Meta Platforms, Inc.      
3.85%, 08/15/32 (a) $6,000   $5,619
4.45%, 08/15/52 (a) 4,000   3,521
MetLife, Inc.      
4.72%, 12/15/44 (a) 5,000   4,563
Microchip Technology, Inc.      
2.67%, 09/01/23 (a) 6,000   5,925
Micron Technology, Inc.      
3.37%, 11/01/41 (a) 3,000   2,125
3.48%, 11/01/51 (a) 3,000   1,956
Microsoft Corp.      
2.40%, 08/08/26 (a) 4,000   3,804
2.68%, 06/01/60 (a) 3,000   2,072
2.92%, 03/17/52 (a) 5,000   3,789
3.45%, 08/08/36 (a) 3,000   2,777
3.50%, 02/12/35 (a) 3,000   2,847
Mid-America Apartments LP      
2.88%, 09/15/51 (a) 5,000   3,258
Molson Coors Beverage Co.      
4.20%, 07/15/46 (a) 4,000   3,276
Morgan Stanley (1.51% fixed rate until 07/20/26; 0.86% + SOFR thereafter)      
1.51%, 07/20/27 (a)(c) 6,000   5,324
Morgan Stanley (2.48% fixed rate until 09/16/31; 1.36% + SOFR thereafter)      
2.48%, 09/16/36 (a)(c) 10,000   7,563
Morgan Stanley (2.80% fixed rate until 01/25/51; 1.43% + SOFR thereafter)      
2.80%, 01/25/52 (a)(c) 11,000   7,264
Morgan Stanley (3.97% fixed rate until 07/22/37; 1.46% + 3 month USD LIBOR thereafter)      
3.97%, 07/22/38 (a)(c) 7,000   6,171
MPLX LP      
2.65%, 08/15/30 (a) 3,000   2,549
Mylan, Inc.      
5.20%, 04/15/48 (a) 3,000   2,365
National Retail Properties, Inc.      
4.00%, 11/15/25 (a) 4,000   3,873
Newmont Corp.      
4.88%, 03/15/42 (a) 3,000   2,869
NextEra Energy Capital Holdings, Inc. (5.65% fixed rate until 05/01/29; 3.16% + 3 month USD LIBOR thereafter)      
5.65%, 05/01/79 (a)(c) 5,000   4,397
NGPL PipeCo LLC      
3.25%, 07/15/31 (a)(g) 6,000   5,076
NIKE, Inc.      
3.38%, 03/27/50 (a) 2,000   1,650
NiSource, Inc.      
3.60%, 05/01/30 (a) 5,000   4,620
3.95%, 03/30/48 (a) 2,000   1,630
5.25%, 03/30/28 20,000   20,353
Norfolk Southern Corp.      
3.95%, 10/01/42 (a) 4,000   3,390
Northern Trust Corp.      
6.13%, 11/02/32 (a) 3,000   3,197
Northwestern Mutual Life Insurance Co.      
3.45%, 03/30/51 (a)(g) 10,000   7,290
NOV, Inc.      
3.60%, 12/01/29 (a) 3,000   2,715
 
  27

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Novant Health, Inc.      
3.32%, 11/01/61 (a) $5,000   $3,508
Novartis Capital Corp.      
2.20%, 08/14/30 (a) 4,000   3,509
3.00%, 11/20/25 (a) 3,000   2,914
Nutrien Ltd.      
4.90%, 03/27/28 10,000   9,998
4.90%, 06/01/43 (a) 4,000   3,686
NVIDIA Corp.      
2.85%, 04/01/30 (a) 4,000   3,641
3.50%, 04/01/50 (a) 2,000   1,638
NXP BV/NXP Funding LLC/NXP USA, Inc.      
3.25%, 11/30/51 (a) 5,000   3,341
Oklahoma Gas & Electric Co.      
3.25%, 04/01/30 (a) 3,000   2,711
Oncor Electric Delivery Co. LLC      
3.80%, 09/30/47 (a) 2,000   1,670
ONEOK, Inc.      
4.35%, 03/15/29 (a) 4,000   3,785
6.10%, 11/15/32 (a) 3,000   3,107
Oracle Corp.      
2.95%, 04/01/30 (a) 7,000   6,180
3.60%, 04/01/50 (a) 4,000   2,833
3.65%, 03/25/41 (a) 3,000   2,323
3.80%, 11/15/37 (a) 3,000   2,495
3.95%, 03/25/51 (a) 3,000   2,254
4.00%, 07/15/46 - 11/15/47 (a) 7,000   5,348
4.10%, 03/25/61 (a) 3,000   2,201
5.55%, 02/06/53 3,000   2,855
6.15%, 11/09/29 (a) 8,000   8,523
6.90%, 11/09/52 (a) 3,000   3,363
Otis Worldwide Corp.      
2.06%, 04/05/25 (a) 3,000   2,834
2.57%, 02/15/30 (a) 3,000   2,631
3.36%, 02/15/50 (a) 3,000   2,231
Owens Corning      
4.40%, 01/30/48 (a) 3,000   2,509
Pacific Gas & Electric Co.      
2.10%, 08/01/27 (a) 3,000   2,616
2.50%, 02/01/31 (a) 4,000   3,237
3.00%, 06/15/28 (a) 5,000   4,444
3.30%, 08/01/40 (a) 4,000   2,832
3.50%, 08/01/50 (a) 3,000   1,981
4.30%, 03/15/45 (a) 5,000   3,757
PacifiCorp      
2.70%, 09/15/30 (a) 3,000   2,653
2.90%, 06/15/52 (a) 8,000   5,491
6.25%, 10/15/37 (a) 2,000   2,240
Paramount Global      
2.90%, 01/15/27 (a) 3,000   2,724
3.70%, 06/01/28 (a) 2,000   1,814
5.25%, 04/01/44 (a) 3,000   2,368
Parker-Hannifin Corp.      
3.25%, 06/14/29 (a) 3,000   2,764
4.50%, 09/15/29 (a) 3,000   2,980
PartnerRe Finance B LLC (4.50% fixed rate until 04/01/30; 3.82% + 5 year CMT Rate thereafter)      
4.50%, 10/01/50 (a)(c) 4,000   3,348
PayPal Holdings, Inc.      
2.65%, 10/01/26 (a) 4,000   3,772
3.25%, 06/01/50 (a) 2,000   1,462
  Principal
Amount
  Fair
Value
PepsiCo, Inc.      
1.63%, 05/01/30 (a) $3,000   $2,537
2.75%, 10/21/51 (a) 5,000   3,669
Petroleos Mexicanos      
5.35%, 02/12/28 (a) 10,000   8,436
6.70%, 02/16/32 (a) 10,000   7,966
7.69%, 01/23/50 (a) 10,000   7,049
Pfizer, Inc.      
2.70%, 05/28/50 (a) 6,000   4,302
3.45%, 03/15/29 (a) 2,000   1,931
3.60%, 09/15/28 (a) 5,000   4,900
3.90%, 03/15/39 (a) 3,000   2,720
4.40%, 05/15/44 (a) 2,000   1,923
Philip Morris International, Inc.      
1.50%, 05/01/25 (a) 4,000   3,744
2.10%, 05/01/30 (a) 3,000   2,502
4.13%, 03/04/43 (a) 2,000   1,633
5.13%, 02/15/30 16,000   16,172
5.38%, 02/15/33 5,000   5,109
5.63%, 11/17/29 (a) 7,000   7,316
Phillips 66      
2.15%, 12/15/30 (a) 6,000   4,953
3.30%, 03/15/52 (a) 3,000   2,124
Phillips 66 Co.      
3.15%, 12/15/29 (a)(g) 6,000   5,413
3.75%, 03/01/28 (a)(g) 3,000   2,850
4.68%, 02/15/45 (a)(g) 4,000   3,568
Pioneer Natural Resources Co.      
1.13%, 01/15/26 (a) 9,000   8,178
2.15%, 01/15/31 (a) 5,000   4,109
Plains All American Pipeline LP/PAA Finance Corp.      
3.55%, 12/15/29 (a) 3,000   2,683
Precision Castparts Corp.      
4.38%, 06/15/45 (a) 4,000   3,690
Progressive Corp.      
3.00%, 03/15/32 (a) 8,000   7,153
Prologis LP      
3.05%, 03/01/50 (a) 5,000   3,464
3.25%, 06/30/26 (a) 4,000   3,850
Prospect Capital Corp.      
3.36%, 11/15/26 (a) 7,000   5,823
Prudential Financial, Inc.      
3.94%, 12/07/49 (a) 5,000   3,963
Prudential Financial, Inc. (5.70% fixed rate until 09/15/28; 2.67% + 3 month USD LIBOR thereafter)      
5.70%, 09/15/48 (a)(c) 5,000   4,630
Public Service Co. of Colorado      
3.70%, 06/15/28 (a) 5,000   4,838
Public Service Electric & Gas Co.      
2.38%, 05/15/23 (a) 8,000   7,970
PVH Corp.      
4.63%, 07/10/25 (a) 5,000   4,892
QUALCOMM, Inc.      
4.30%, 05/20/47 (a) 3,000   2,777
4.50%, 05/20/52 4,000   3,721
Quanta Services, Inc.      
2.35%, 01/15/32 (a) 3,000   2,377
3.05%, 10/01/41 (a) 3,000   2,091
Raytheon Technologies Corp.      
1.90%, 09/01/31 (a) 5,000   4,082
2.82%, 09/01/51 (a) 3,000   2,071
 
28  

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
3.95%, 08/16/25 (a) $2,000   $1,974
4.15%, 05/15/45 (a) 3,000   2,625
4.45%, 11/16/38 (a) 2,000   1,898
Realty Income Corp.      
2.85%, 12/15/32 (a) 3,000   2,478
3.00%, 01/15/27 (a) 3,000   2,804
3.25%, 01/15/31 (a) 3,000   2,641
Regeneron Pharmaceuticals, Inc.      
1.75%, 09/15/30 (a) 6,000   4,844
Republic Services, Inc.      
5.00%, 04/01/34 5,000   5,083
Reynolds American, Inc.      
4.45%, 06/12/25 (a) 4,000   3,929
Rio Tinto Finance USA PLC      
4.13%, 08/21/42 4,000   3,595
Rockwell Automation, Inc.      
4.20%, 03/01/49 (a) 2,000   1,812
Rogers Communications, Inc.      
5.00%, 03/15/44 (a) 2,000   1,799
Roper Technologies, Inc.      
2.95%, 09/15/29 (a) 2,000   1,795
Ross Stores, Inc.      
4.70%, 04/15/27 (a) 3,000   2,979
Royalty Pharma PLC      
0.75%, 09/02/23 (a) 5,000   4,898
1.20%, 09/02/25 (a) 5,000   4,535
1.75%, 09/02/27 (a) 3,000   2,600
2.15%, 09/02/31 (a) 5,000   3,958
2.20%, 09/02/30 (a) 3,000   2,448
RPM International, Inc.      
3.75%, 03/15/27 (a) 2,000   1,901
Ryder System, Inc.      
2.90%, 12/01/26 (a) 5,000   4,624
Salesforce, Inc.      
1.95%, 07/15/31 (a) 6,000   5,021
2.70%, 07/15/41 (a) 3,000   2,250
Schlumberger Holdings Corp.      
3.90%, 05/17/28 (a)(g) 4,000   3,846
Sealed Air Corp.      
1.57%, 10/15/26 (a)(g) 10,000   8,754
Selective Insurance Group, Inc.      
5.38%, 03/01/49 (a) 3,000   2,800
Sempra Energy      
3.80%, 02/01/38 (a) 2,000   1,725
4.00%, 02/01/48 (a) 4,000   3,259
Sempra Energy (4.13% fixed rate until 01/01/27; 2.87% + 5 year CMT Rate thereafter)      
4.13%, 04/01/52 (a)(c) 7,000   5,605
Shell International Finance BV      
3.75%, 09/12/46 (a) 6,000   5,071
Shire Acquisitions Investments Ireland DAC      
2.88%, 09/23/23 (a) 2,000   1,975
3.20%, 09/23/26 (a) 3,000   2,855
Simon Property Group LP      
3.38%, 06/15/27 (a) 4,000   3,758
Sonoco Products Co.      
2.85%, 02/01/32 (a) 3,000   2,531
Southern California Edison Co.      
4.00%, 04/01/47 (a) 9,000   7,410
4.20%, 03/01/29 (a) 8,000   7,753
Southern Co.      
3.70%, 04/30/30 (a) 6,000   5,615
  Principal
Amount
  Fair
Value
Southern Co. Gas Capital Corp.      
3.95%, 10/01/46 (a) $4,000   $3,131
4.40%, 05/30/47 (a) 2,000   1,709
Southwest Airlines Co.      
2.63%, 02/10/30 (a) 7,000   5,952
Southwestern Electric Power Co.      
2.75%, 10/01/26 (a) 5,000   4,657
Spectra Energy Partners LP      
3.38%, 10/15/26 (a) 2,000   1,900
4.50%, 03/15/45 (a) 3,000   2,527
Stanley Black & Decker, Inc.      
3.00%, 05/15/32 (a) 3,000   2,515
Starbucks Corp.      
4.00%, 11/15/28 (a) 4,000   3,908
Stryker Corp.      
1.95%, 06/15/30 (a) 7,000   5,903
Suncor Energy, Inc.      
4.00%, 11/15/47 (a) 3,000   2,384
Sysco Corp.      
3.25%, 07/15/27 (a) 2,000   1,898
Take-Two Interactive Software, Inc.      
3.70%, 04/14/27 (a) 15,000   14,504
4.00%, 04/14/32 (a) 3,000   2,759
Tampa Electric Co.      
2.40%, 03/15/31 (a) 8,000   6,701
3.45%, 03/15/51 (a) 5,000   3,702
4.35%, 05/15/44 (a) 6,000   5,188
Targa Resources Partners LP/Targa Resources Partners Finance Corp.      
5.00%, 01/15/28 (a) 8,000   7,795
Target Corp.      
2.50%, 04/15/26 (a) 3,000   2,880
Teck Resources Ltd.      
5.40%, 02/01/43 (a) 2,000   1,866
Texas Instruments, Inc.      
3.88%, 03/15/39 (a) 4,000   3,647
Thermo Fisher Scientific, Inc.      
2.80%, 10/15/41 (a) 5,000   3,805
Time Warner Cable LLC      
6.55%, 05/01/37 3,000   2,949
T-Mobile USA, Inc.      
3.50%, 04/15/31 17,000   15,288
3.75%, 04/15/27 (a) 4,000   3,846
4.50%, 04/15/50 (a) 3,000   2,605
Toronto-Dominion Bank      
3.20%, 03/10/32 (a) 11,000   9,675
4.46%, 06/08/32 (a) 3,000   2,906
Toronto-Dominion Bank (3.63% fixed rate until 09/15/26; 2.21% + 5 year Swap Rate thereafter)      
3.63%, 09/15/31 (a)(c) 6,000   5,679
TotalEnergies Capital International SA      
3.46%, 02/19/29 (a) 3,000   2,864
Trane Technologies Luxembourg Finance SA      
3.55%, 11/01/24 (a) 5,000   4,887
3.80%, 03/21/29 (a) 4,000   3,792
TransCanada PipeLines Ltd.      
4.25%, 05/15/28 (a) 7,000   6,793
 
  29

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Transcanada Trust (5.63% fixed rate until 05/20/25; 3.53% + 3 month USD LIBOR thereafter)      
5.63%, 05/20/75 (a)(c) $9,000   $8,372
Transcontinental Gas Pipe Line Co. LLC      
4.00%, 03/15/28 (a) 4,000   3,831
Travelers Cos., Inc.      
2.55%, 04/27/50 (a) 4,000   2,620
Truist Financial Corp. (4.80% fixed rate until 09/01/24; 3.00% + 5 year CMT Rate thereafter)      
4.80%, 09/01/24 (a)(c) 9,000   7,920
TWDC Enterprises 18 Corp.      
4.13%, 06/01/44 (a) 4,000   3,612
Tyco Electronics Group SA      
3.13%, 08/15/27 (a) 3,000   2,824
Tyson Foods, Inc.      
4.00%, 03/01/26 (a) 3,000   2,947
U.S. Bancorp (4.97% fixed rate until 07/22/32; 2.11% + SOFR thereafter)      
4.97%, 07/22/33 (c) 11,000   10,432
UDR, Inc.      
2.10%, 08/01/32 (a) 3,000   2,308
3.00%, 08/15/31 (a) 3,000   2,569
Union Pacific Corp.      
3.55%, 05/20/61 (a) 4,000   3,034
3.80%, 04/06/71 (a) 5,000   3,862
4.10%, 09/15/67 (a) 5,000   4,151
UnitedHealth Group, Inc.      
2.00%, 05/15/30 (a) 6,000   5,127
4.20%, 05/15/32 (a) 3,000   2,936
4.45%, 12/15/48 (a) 4,000   3,703
4.75%, 07/15/45 - 05/15/52 (a) 8,000   7,838
5.05%, 04/15/53 5,000   5,054
5.20%, 04/15/63 5,000   5,067
Utah Acquisition Sub, Inc.      
3.95%, 06/15/26 (a) 2,000   1,904
Ventas Realty LP      
3.25%, 10/15/26 (a) 7,000   6,540
Verizon Communications, Inc.      
2.36%, 03/15/32 (a) 6,000   4,923
3.00%, 03/22/27 (a) 4,000   3,801
3.40%, 03/22/41 (a) 4,000   3,184
3.55%, 03/22/51 (a) 3,000   2,295
3.70%, 03/22/61 (a) 6,000   4,486
4.40%, 11/01/34 (a) 3,000   2,850
Viatris, Inc.      
4.00%, 06/22/50 (a) 2,000   1,316
Virginia Electric & Power Co.      
4.00%, 11/15/46 (a) 5,000   4,100
Visa, Inc.      
2.70%, 04/15/40 (a) 4,000   3,163
Vistra Operations Co. LLC      
3.55%, 07/15/24 (a)(g) 6,000   5,796
Vontier Corp.      
2.40%, 04/01/28 (a) 6,000   5,045
2.95%, 04/01/31 (a) 4,000   3,184
Vornado Realty LP      
2.15%, 06/01/26 (a) 4,000   3,211
Vulcan Materials Co.      
3.90%, 04/01/27 (a) 2,000   1,945
  Principal
Amount
  Fair
Value
Walmart, Inc.      
1.80%, 09/22/31 (a) $3,000   $2,537
2.50%, 09/22/41 (a) 3,000   2,274
Walt Disney Co.      
2.65%, 01/13/31 (a) 4,000   3,530
3.38%, 11/15/26 (a) 3,000   2,907
3.60%, 01/13/51 (a) 2,000   1,622
4.75%, 11/15/46 (a) 2,000   1,929
6.65%, 11/15/37 (a) 4,000   4,742
Warnermedia Holdings, Inc.      
4.28%, 03/15/32 (g) 17,000   15,169
Waste Connections, Inc.      
2.20%, 01/15/32 (a) 3,000   2,461
2.95%, 01/15/52 (a) 3,000   2,080
WEC Energy Group, Inc.      
3.55%, 06/15/25 (a) 2,000   1,911
Wells Fargo & Co.      
4.15%, 01/24/29 (a) 7,000   6,697
4.75%, 12/07/46 (a) 2,000   1,737
Wells Fargo & Co. (2.19% fixed rate until 04/30/25; 2.00% + SOFR thereafter)      
2.19%, 04/30/26 (a)(c) 8,000   7,506
Wells Fargo & Co. (2.39% fixed rate until 06/02/27; 2.10% + SOFR thereafter)      
2.39%, 06/02/28 (a)(c) 2,000   1,798
Wells Fargo & Co. (3.07% fixed rate until 04/30/40; 2.53% + SOFR thereafter)      
3.07%, 04/30/41 (a)(c) 7,000   5,217
Wells Fargo & Co. (5.88% fixed rate until 06/15/25; 3.99% + 3 month USD LIBOR thereafter)      
5.88%, 06/15/25 (a)(c) 13,000   12,758
Westlake Corp.      
2.88%, 08/15/41 (a) 3,000   2,029
3.13%, 08/15/51 (a) 3,000   1,914
3.38%, 08/15/61 (a) 2,000   1,237
Westpac Banking Corp. (2.89% fixed rate until 02/04/25; 1.35% + 5 year CMT Rate thereafter)      
2.89%, 02/04/30 (a)(c) 7,000   6,573
Westpac Banking Corp. (4.11% fixed rate until 07/24/29; 2.00% + 5 year CMT Rate thereafter)      
4.11%, 07/24/34 (a)(c) 3,000   2,683
Weyerhaeuser Co.      
4.00%, 03/09/52 (a) 3,000   2,447
Williams Cos., Inc.      
3.75%, 06/15/27 (a) 3,000   2,880
4.85%, 03/01/48 (a) 3,000   2,655
4.90%, 01/15/45 (a) 4,000   3,521
5.40%, 03/04/44 (a) 2,000   1,877
Willis North America, Inc.      
3.88%, 09/15/49 (a) 4,000   2,997
Workday, Inc.      
3.50%, 04/01/27 (a) 3,000   2,872
3.70%, 04/01/29 (a) 8,000   7,494
WPP Finance 2010      
3.75%, 09/19/24 (a) 8,000   7,799
Xcel Energy, Inc.      
3.40%, 06/01/30 (a) 3,000   2,740
Yamana Gold, Inc.      
2.63%, 08/15/31 (a) 4,000   3,218
 
30  

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Zoetis, Inc.      
3.00%, 09/12/27 (a) $3,000   $2,841
3.90%, 08/20/28 (a) 4,000   3,891
5.60%, 11/16/32 (a) 10,000   10,668
      2,936,988
Non-Agency Collateralized Mortgage Obligations - 6.4%
Bank      
3.18%, 09/15/60 158,000   144,526
4.41%, 11/15/61 (c) 66,000   63,449
BPR Trust 1.90% + 1 month Term SOFR      
6.73%, 04/15/37 (c)(g) 24,770   23,801
Cantor Commercial Real Estate Lending      
3.01%, 01/15/53 34,000   29,443
CD Mortgage Trust      
2.91%, 08/15/57 63,000   54,590
Citigroup Commercial Mortgage Trust      
4.03%, 12/10/49 (c) 31,273   29,278
COMM Mortgage Trust      
4.53%, 02/10/47 (c) 25,000   24,483
GS Mortgage Securities Trust      
2.75%, 09/10/52 105,000   90,581
3.05%, 11/10/52 56,000   48,997
4.14%, 03/10/51 (c) 25,000   23,126
4.42%, 11/10/48 (c) 25,000   18,570
JPMBB Commercial Mortgage Securities Trust      
4.07%, 07/15/45 (c) 15,000   14,860
4.66%, 11/15/48 (c) 20,000   15,014
MASTR Alternative Loan Trust      
5.00%, 08/25/18 (e) 719   39
Morgan Stanley Bank of America Merrill Lynch Trust      
0.85%, 03/15/48 (c)(e) 316,119   3,605
Wells Fargo Commercial Mortgage Trust      
4.32%, 08/15/50 28,250   22,943
WFRBS Commercial Mortgage Trust      
4.26%, 12/15/46 25,000   24,625
4.35%, 03/15/47 (c) 58,000   56,461
      688,391
Sovereign Bonds - 0.5%
Mexico Government International Bonds      
4.75%, 03/08/44 (a) 20,000   17,012
Peruvian Government International Bonds      
1.86%, 12/01/32 (a) 10,000   7,573
  Principal
Amount
  Fair
Value
2.78%, 12/01/60 (a) $15,000   $8,957
5.63%, 11/18/50 (a) 11,000   11,104
Uruguay Government International Bonds      
5.10%, 06/18/50 (a) 14,040   14,141
      58,787
Municipal Bonds and Notes - 0.7%
American Municipal Power, Inc., OH      
6.27%, 02/15/50 15,000   16,754
Board of Regents of the University of Texas System, TX      
3.35%, 08/15/47 10,000   8,175
Port Authority of New York & New Jersey, NY      
4.46%, 10/01/62 25,000   23,353
State of California, CA      
4.60%, 04/01/38 15,000   14,623
State of Illinois, IL      
5.10%, 06/01/33 10,000   9,976
      72,881
Total Bonds and Notes
(Cost $11,218,103)
    10,449,114
    
  Number
of Shares
 
Domestic Equity - 0.2%
Preferred Stock - 0.2%
Wells Fargo & Co. 5.85%, (5.85% fixed rate until 09/15/23; 3.09% + 3 month USD LIBOR thereafter)
(Cost $23,300) (c)
932 21,678
Total Investments in Securities
(Cost $11,241,403)
  10,470,792
Short-Term Investments - 19.3%
State Street Institutional U.S. Government Money Market Fund - Class G Shares 4.74% (h)(i)
(Cost $2,073,084)
2,073,084 2,073,084
Total Investments
(Cost $13,314,487)
  12,543,876
Liabilities in Excess of Other Assets, net - (16.6)%   (1,789,066)
NET ASSETS - 100.0%   $10,754,810
 

Other Information:

Centrally Cleared Credit Default Swaps
    
Reference Entity   Counterparty   Notional
Amount
(000s
omitted)
  Contract
Annual
Fixed Rate/
Payment
Frequency
  Termination
Date
  Market
Value
  Unamortized
Upfront
Payments
Received (Paid)
  Unrealized
Appreciation
(Depreciation)
Buy Protection                            
Markit CDX North America High Yield Index   Intercontinental Exchange   $409   5.00%/
Quarterly
  12/20/27   $4,604   $(15,402)   $20,006
  31

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
The Fund had the following long futures contracts open at March 31, 2023:
    
Description   Expiration
Date
  Number of
Contracts
  Notional
Amount
  Value   Unrealized
Appreciation
(Depreciation)
10 Yr. U.S. Treasury Ultra Futures   June 2023   3   $350,593   $363,422   $12,829
5 Yr. U.S. Treasury Notes Futures   June 2023   2   214,848   219,016   4,168
2 Yr. U.S. Treasury Notes Futures   June 2023   5   1,019,920   1,032,266   12,346
                    $29,343
    
The Fund had the following short futures contracts open at March 31, 2023:
    
Description   Expiration
date
  Number of
Contracts
  Notional
Amount
  Value   Unrealized
Appreciation
(Depreciation)
U.S. Long Bond Futures   June 2023   1   $(125,716)   $(131,156)   $(5,440)
10 Yr. U.S. Treasury Notes Futures   June 2023   3   (335,667)   (344,766)   (9,099)
                    $(14,539)
                     
The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice. The securities cited may not be representative of the Fund’s future investments and should not be construed as a recommendation to purchase or sell a particular security. See the Fund’s summary prospectus and statutory prospectus for complete descriptions of investment objectives, policies, risks and permissible investments.
(a) At March 31, 2023, all or a portion of this security was pledged to cover collateral requirements for futures, swaps and/or TBAs.
(b) Step coupon bond.
(c) Variable Rate Security - Interest rate shown is rate in effect at March 31, 2023. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above.
(d) Settlement is on a delayed delivery or when-issued basis with final maturity to be announced ("TBA") in the future.
(e) Interest only security. These securities represent the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the "interest only" holding.
(f) Principal only security. These securities represent the right to receive the monthly principal payments on an underlying pool of mortgages. No payments of interest on the pool are passed through to the "principal only" holder.
(g) Pursuant to Rule 144A of the Securities Act of 1933, as amended, these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2023, these securities amounted to $276,209 or 2.57% of the net assets of the State Street Income V.I.S. Fund. These securities have been determined to be liquid using procedures established by the Fund's Board of Directors.
(h) Sponsored by SSGA Funds Management, Inc., the Fund’s investment adviser and administrator, and an affiliate of State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent.
(i) Coupon amount represents effective yield.
Percentages are based on net assets as of March 31, 2023.
    
Abbreviations:
CMT - Constant Maturity Treasury
LIBOR - London Interbank Offered Rate
REMICS - Real Estate Mortgage Investment Conduits
SOFR - Secured Overnight Financing Rate
STRIPS - Separate Trading of Registered Interest and Principal of Security
TBA - To Be Announced
 
32  

State Street Income V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
The following table presents the Fund’s investments measured at fair value on a recurring basis at March 31, 2023:
Investments   Level 1   Level 2   Level 3   Total
Investments in Securities                
U.S. Treasuries   $  $3,142,161   $—   $3,142,161
Agency Mortgage Backed     3,432,110     3,432,110
Agency Collateralized Mortgage Obligations     107,801     107,801
Asset Backed     9,995     9,995
Corporate Notes     2,936,988     2,936,988
Non-Agency Collateralized Mortgage Obligations     688,391     688,391
Sovereign Bonds     58,787     58,787
Municipal Bonds and Notes     72,881     72,881
Preferred Stock   21,678       21,678
Short-Term Investments   2,073,084       2,073,084
Total Investments in Securities   $2,094,762   $10,449,114   $—   $12,543,876
Other Financial Instruments                
Credit Default Swap Contracts - Unrealized Appreciation     20,006     20,006
Long Futures Contracts - Unrealized Appreciation   29,343       29,343
Short Futures Contracts - Unrealized Depreciation   (14,539)       (14,539)
Total Other Financial Instruments   $14,804   $20,006   $—   $34,810
    
Affiliate Table
    
  Number
of Shares
Held at
12/31/22
  Value at
12/31/22
  Cost of
Purchases
  Proceeds
from
Shares
Sold
  Realized
Gain
(Loss)
  Change in
Unrealized
Appreciation
(Depreciation)
  Number of
Shares
Held at
3/31/23
  Value at
3/31/23
  Dividend
Income
State Street Institutional U.S. Government Money Market Fund - Class G Shares 2,022,424   $2,022,424   $1,365,114   $1,314,454   $—   $—   2,073,084   $2,073,084   $21,660
  33

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Domestic Equity - 38.6% †
Common Stock - 38.6%
Advertising - 0.1%
AdTheorent Holding Co., Inc. (a) 2,287   $3,865
Advantage Solutions, Inc. (a) 2,685   4,242
Boston Omaha Corp., Class A (a) 1,001   23,694
Cardlytics, Inc. (a) 1,112   3,775
Clear Channel Outdoor Holdings, Inc. (a) 16,802   20,163
Integral Ad Science Holding Corp. (a) 1,751   24,987
Interpublic Group of Cos., Inc. 4,342   161,696
Magnite, Inc. (a) 5,880   54,449
Omnicom Group, Inc. 2,227   210,095
PubMatic, Inc., Class A (a) 1,962   27,115
Quotient Technology, Inc. (a) 4,412   14,471
Stagwell, Inc. (a) 3,467   25,725
TechTarget, Inc. (a) 1,207   43,597
Thryv Holdings, Inc. (a) 1,155   26,634
Trade Desk, Inc., Class A (a) 4,511   274,765
      919,273
Aerospace & Defense - 0.6%
AAR Corp. (a) 1,511   82,425
Aerojet Rocketdyne Holdings, Inc. (a) 3,596   201,987
AeroVironment, Inc. (a) 1,123   102,934
AerSale Corp. (a) 1,177   20,268
Archer Aviation, Inc., Class A (a) 6,305   18,032
Astra Space, Inc. (a) 4,212   1,790
Astronics Corp. (a) 1,233   16,473
Axon Enterprise, Inc. (a) 800   179,880
Boeing Co. (a) 5,846   1,241,866
BWX Technologies, Inc. 1,000   63,040
Cadre Holdings, Inc. 880   18,955
Curtiss-Wright Corp. 400   70,504
Ducommun, Inc. (a) 502   27,464
General Dynamics Corp. 2,615   596,769
HEICO Corp. 500   85,520
HEICO Corp., Class A 900   122,310
Hexcel Corp. 1,000   68,250
Howmet Aerospace, Inc. 3,697   156,642
Huntington Ingalls Industries, Inc. 400   82,808
Kaman Corp. 1,265   28,918
Kratos Defense & Security Solutions, Inc. (a) 5,473   73,776
L3Harris Technologies, Inc. 1,980   388,555
Lockheed Martin Corp. 2,402   1,135,498
Maxar Technologies, Inc. 3,336   170,336
Mercury Systems, Inc. (a) 600   30,672
Momentus, Inc. (a) 1,430   837
Moog, Inc., Class A 1,301   131,076
National Presto Industries, Inc. 245   17,662
Northrop Grumman Corp. 1,598   737,829
Park Aerospace Corp. 964   12,966
Parsons Corp. (a) 1,492   66,752
Raytheon Technologies Corp. 15,686   1,536,130
Redwire Corp. (a) 1,127   3,415
Rocket Lab USA, Inc. (a) 9,654   39,002
Spirit AeroSystems Holdings, Inc., Class A 1,100   37,983
Terran Orbital Corp. (a) 618   1,137
Textron, Inc. 2,271   160,401
  Number
of Shares
  Fair
Value
TransDigm Group, Inc. 566   $417,170
Triumph Group, Inc. (a) 2,881   33,391
V2X, Inc. (a) 550   21,846
Virgin Galactic Holdings, Inc. (a) 10,768   43,610
Woodward, Inc. 600   58,422
      8,305,301
Agricultural & Farm Machinery - 0.1%
AGCO Corp. 723   97,750
Deere & Co. 2,984   1,232,034
Hydrofarm Holdings Group, Inc. (a) 1,188   2,055
Lindsay Corp. 487   73,600
Titan International, Inc. (a) 2,312   24,230
Toro Co. 1,068   118,719
      1,548,388
Agricultural Products & Services - 0.1%
Alico, Inc. 357   8,639
AppHarvest, Inc. (a) 2,309   1,414
Archer-Daniels-Midland Co. 5,872   467,764
Benson Hill, Inc. (a) 7,944   9,136
Bunge Ltd. 1,537   146,814
Darling Ingredients, Inc. (a) 1,600   93,440
Fresh Del Monte Produce, Inc. 1,365   41,100
Ingredion, Inc. 744   75,687
Local Bounti Corp. (a) 1,092   870
      844,864
Air Freight & Logistics - 0.2%
Air Transport Services Group, Inc. (a) 2,570   53,533
CH Robinson Worldwide, Inc. 1,269   126,101
Expeditors International of Washington, Inc. 1,601   176,302
FedEx Corp. 2,472   564,827
Forward Air Corp. 1,222   131,683
GXO Logistics, Inc. (a) 1,173   59,190
Hub Group, Inc., Class A (a) 1,467   123,140
Radiant Logistics, Inc. (a) 1,858   12,188
United Parcel Service, Inc., Class B 7,892   1,530,969
      2,777,933
Alternative Carriers - 0.0% *
Anterix, Inc. (a) 839   27,721
Bandwidth, Inc., Class A (a) 1,078   16,386
Charge Enterprises, Inc. (a) 6,770   7,447
Cogent Communications Holdings, Inc. 1,956   124,636
EchoStar Corp., Class A (a) 1,520   27,801
Globalstar, Inc. (a) 30,732   35,649
Iridium Communications, Inc. 5,654   350,152
Lumen Technologies, Inc. 11,354   30,088
      619,880
Aluminum - 0.0% *
Alcoa Corp. 2,058   87,588
Arconic Corp. (a) 4,614   121,025
Century Aluminum Co. (a) 2,354   23,540
Constellium SE (a) 5,581   85,278
Kaiser Aluminum Corp. 704   52,540
Tredegar Corp. 1,338   12,216
      382,187
 
See Notes to Schedule of Investments.
34 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Apparel Retail - 0.2%
Abercrombie & Fitch Co., Class A (a) 2,162   $59,995
aka Brands Holding Corp. (a) 589   321
American Eagle Outfitters, Inc. 6,802   91,419
Boot Barn Holdings, Inc. (a) 1,344   103,004
Buckle, Inc. 1,346   48,039
Burlington Stores, Inc. (a) 735   148,543
Caleres, Inc. 1,486   32,142
Cato Corp., Class A 921   8,142
Chico's FAS, Inc. (a) 5,517   30,344
Children's Place, Inc. (a) 517   20,809
Citi Trends, Inc. (a) 253   4,812
Designer Brands, Inc., Class A 2,320   20,277
Destination XL Group, Inc. (a) 2,678   14,756
Duluth Holdings, Inc., Class B (a) 355   2,265
Express, Inc. (a) 1,787   1,409
Foot Locker, Inc. 3,663   145,384
Gap, Inc. 1,847   18,544
Genesco, Inc. (a) 569   20,985
Guess?, Inc. 1,400   27,244
Lands' End, Inc. (a) 462   4,491
Lulu's Fashion Lounge Holdings, Inc. (a) 400   952
RealReal, Inc. (a) 2,649   3,338
Revolve Group, Inc. (a) 1,821   47,892
Ross Stores, Inc. 3,785   401,702
Shoe Carnival, Inc. 792   20,315
Stitch Fix, Inc., Class A (a) 3,863   19,740
ThredUp, Inc., Class A (a) 3,057   7,734
Tilly's, Inc., Class A (a) 1,159   8,936
TJX Cos., Inc. 12,353   967,981
Torrid Holdings, Inc. (a) 662   2,886
Urban Outfitters, Inc. (a) 2,825   78,309
Victoria's Secret & Co. (a) 739   25,237
Zumiez, Inc. (a) 728   13,424
      2,401,371
Apparel, Accessories & Luxury Goods - 0.1%
Capri Holdings Ltd. (a) 1,405   66,035
Carter's, Inc. 400   28,768
Columbia Sportswear Co. 400   36,096
Fossil Group, Inc. (a) 1,488   4,762
G-III Apparel Group Ltd. (a) 1,940   30,167
Hanesbrands, Inc. 3,800   19,988
Kontoor Brands, Inc. 2,525   122,185
Lululemon Athletica, Inc. (a) 1,227   446,861
Movado Group, Inc. 704   20,254
Oxford Industries, Inc. 683   72,118
PLBY Group, Inc. (a) 1,294   2,562
PVH Corp. 600   53,496
Ralph Lauren Corp. 500   58,335
Superior Group of Cos., Inc. 659   5,186
Tapestry, Inc. 2,574   110,965
Under Armour, Inc., Class A (a) 2,700   25,623
Under Armour, Inc., Class C (a) 2,100   17,913
VF Corp. 3,700   84,767
      1,206,081
Application Software - 1.2%
8x8, Inc. (a) 5,048   21,050
ACI Worldwide, Inc. (a) 5,094   137,436
Adobe, Inc. (a) 5,027   1,937,255
  Number
of Shares
  Fair
Value
Agilysys, Inc. (a) 877   $72,361
Alarm.com Holdings, Inc. (a) 2,189   110,063
Alkami Technology, Inc. (a) 1,651   20,902
Altair Engineering, Inc., Class A (a) 2,358   170,035
Alteryx, Inc., Class A (a) 600   35,304
American Software, Inc., Class A 1,448   18,259
Amplitude, Inc., Class A (a) 2,519   31,336
ANSYS, Inc. (a) 971   323,149
Appfolio, Inc., Class A (a) 893   111,161
Applied Digital Corp. (a) 3,518   7,880
AppLovin Corp., Class A (a) 2,300   36,225
Asana, Inc., Class A (a) 3,272   69,137
Aspen Technology, Inc. (a) 320   73,238
Atlassian Corp., Class A (a) 1,496   256,070
Autodesk, Inc. (a) 2,274   473,356
AvePoint, Inc. (a) 5,911   24,353
Bentley Systems, Inc., Class B 2,000   85,980
Bills Holdings, Inc. (a) 1,192   96,719
Black Knight, Inc. (a) 1,624   93,478
Blackbaud, Inc. (a) 2,112   146,362
Blackline, Inc. (a) 2,506   168,278
Blend Labs, Inc., Class A (a) 8,233   8,202
Box, Inc., Class A (a) 6,343   169,929
C3.ai, Inc., Class A (a) 2,598   87,215
Cadence Design Systems, Inc. (a) 2,951   619,976
CCC Intelligent Solutions Holdings, Inc. (a) 2,000   17,940
Cerence, Inc. (a) 1,753   49,242
Ceridian HCM Holding, Inc. (a) 1,405   102,874
Cipher Mining, Inc. (a) 887   2,067
Cleanspark, Inc. (a) 3,659   10,172
Clear Secure, Inc., Class A 2,954   77,306
Confluent, Inc., Class A (a) 1,200   28,884
Consensus Cloud Solutions, Inc. (a) 849   28,942
Couchbase, Inc. (a) 1,297   18,236
CS Disco, Inc. (a) 746   4,954
Cvent Holding Corp. (a) 2,119   17,715
Datadog, Inc., Class A (a) 2,896   210,423
Digimarc Corp. (a) 671   13,185
Digital Turbine, Inc. (a) 4,197   51,875
DocuSign, Inc. (a) 2,089   121,789
Domo, Inc., Class B (a) 1,428   20,263
DoubleVerify Holdings, Inc. (a) 600   18,090
Dropbox, Inc., Class A (a) 3,200   69,184
Dynatrace, Inc. (a) 2,100   88,830
E2open Parent Holdings, Inc. (a) 8,882   51,693
Ebix, Inc. 1,213   16,000
eGain Corp. (a) 737   5,594
Elastic NV (a) 900   52,110
Enfusion, Inc., Class A (a) 1,305   13,703
EngageSmart, Inc. (a) 1,603   30,858
Envestnet, Inc. (a) 2,497   146,499
Everbridge, Inc. (a) 1,777   61,609
EverCommerce, Inc. (a) 1,177   12,453
Fair Isaac Corp. (a) 266   186,916
Five9, Inc. (a) 800   57,832
ForgeRock, Inc., Class A (a) 2,022   41,653
Greenidge Generation Holdings, Inc. (a) 162   73
Guidewire Software, Inc. (a) 900   73,845
HubSpot, Inc. (a) 508   217,805
Informatica, Inc., Class A (a) 400   6,560
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 35

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Instructure Holdings, Inc. (a) 798   $20,668
Intapp, Inc. (a) 654   29,325
InterDigital, Inc. 1,310   95,499
Intuit, Inc. 2,929   1,305,836
Jamf Holding Corp. (a) 800   15,536
Latch, Inc. (a) 4,097   3,122
LivePerson, Inc. (a) 3,169   13,975
LiveRamp Holdings, Inc. (a) 2,769   60,724
LiveVox Holdings, Inc. (a) 397   1,227
Manhattan Associates, Inc. (a) 731   113,195
Marathon Digital Holdings, Inc. (a) 5,278   46,024
Matterport, Inc. (a) 10,130   27,655
MeridianLink, Inc. (a) 1,066   18,442
MicroStrategy, Inc., Class A (a) 440   128,621
Mitek Systems, Inc. (a) 1,954   18,739
Model N, Inc. (a) 1,632   54,623
Momentive Global, Inc. (a) 5,838   54,410
nCino, Inc. (a) 700   17,346
NCR Corp. (a) 1,300   30,667
New Relic, Inc. (a) 500   37,645
NextNav, Inc. (a) 3,517   7,140
Nutanix, Inc., Class A (a) 2,300   59,777
Olo, Inc., Class A (a) 4,057   33,105
ON24, Inc. (a) 1,841   16,127
PagerDuty, Inc. (a) 3,930   137,471
Palantir Technologies, Inc., Class A (a) 20,929   176,850
Paycom Software, Inc. (a) 535   162,645
Paycor HCM, Inc. (a) 600   15,912
Paylocity Holding Corp. (a) 500   99,390
Pegasystems, Inc. 400   19,392
Porch Group, Inc. (a) 2,408   3,444
PowerSchool Holdings, Inc., Class A (a) 2,043   40,492
Procore Technologies, Inc. (a) 700   43,841
PROS Holdings, Inc. (a) 1,826   50,032
PTC, Inc. (a) 1,048   134,385
Q2 Holdings, Inc. (a) 2,470   60,811
Rimini Street, Inc. (a) 2,472   10,185
RingCentral, Inc., Class A (a) 900   27,603
Riot Platforms, Inc. (a) 7,084   70,769
Roper Technologies, Inc. 1,075   473,742
Salesforce, Inc. (a) 10,321   2,061,929
ShotSpotter, Inc. (a) 429   16,868
Smartsheet, Inc., Class A (a) 1,400   66,920
Splunk, Inc. (a) 1,710   163,955
Sprout Social, Inc., Class A (a) 2,125   129,370
SPS Commerce, Inc. (a) 1,642   250,077
Sumo Logic, Inc. (a) 5,156   61,769
Synopsys, Inc. (a) 1,672   645,810
Terawulf, Inc. (a) 4,528   4,246
Tyler Technologies, Inc. (a) 450   159,588
Unity Software, Inc. (a) 2,298   74,547
Upland Software, Inc. (a) 1,570   6,751
Verint Systems, Inc. (a) 2,949   109,821
Veritone, Inc. (a) 1,607   9,369
Viant Technology, Inc., Class A (a) 600   2,610
Weave Communications, Inc. (a) 1,636   8,131
WM Technology, Inc. (a) 2,193   1,862
Workday, Inc., Class A (a) 2,210   456,453
Workiva, Inc. (a) 2,160   221,206
Yext, Inc. (a) 4,893   47,022
  Number
of Shares
  Fair
Value
Zeta Global Holdings Corp., Class A (a) 4,942   $53,522
Zoom Video Communications, Inc., Class A (a) 2,774   204,832
      15,824,933
Asset Management & Custody Banks - 0.4%
Affiliated Managers Group, Inc. 400   56,968
Ameriprise Financial, Inc. 1,167   357,686
Ares Management Corp., Class A 1,622   135,340
Artisan Partners Asset Management, Inc., Class A 2,655   84,907
AssetMark Financial Holdings, Inc. (a) 974   30,632
Associated Capital Group, Inc., Class A 103   3,806
Avantax, Inc. (a) 2,117   55,719
Bank of New York Mellon Corp. 8,106   368,337
BlackRock, Inc. 1,632   1,092,004
Blackstone, Inc. 7,512   659,854
Blue Owl Capital, Inc. 3,800   42,104
Brightsphere Investment Group, Inc. 1,453   34,262
Carlyle Group, Inc. 1,951   60,598
Cohen & Steers, Inc. 1,123   71,827
Diamond Hill Investment Group, Inc. 131   21,560
Federated Hermes, Inc. 3,874   155,502
Focus Financial Partners, Inc., Class A (a) 2,635   136,678
Franklin Resources, Inc. 3,300   88,902
GCM Grosvenor, Inc., Class A 1,919   14,987
Hamilton Lane, Inc., Class A 1,635   120,957
Invesco Ltd. 4,300   70,520
Janus Henderson Group PLC 1,800   47,952
KKR & Co., Inc. 6,305   331,139
Northern Trust Corp. 2,232   196,706
Sculptor Capital Management, Inc. 1,236   10,642
SEI Investments Co. 1,000   57,550
Silvercrest Asset Management Group, Inc., Class A 496   9,017
State Street Corp. (b) 3,861   292,239
StepStone Group, Inc., Class A 2,410   58,491
T Rowe Price Group, Inc. 2,257   254,815
Victory Capital Holdings, Inc., Class A 752   22,011
Virtus Investment Partners, Inc. 308   58,640
WisdomTree, Inc. 6,123   35,881
      5,038,233
Automobile Manufacturers - 0.6%
Canoo, Inc. (a) 14,497   9,461
Faraday Future Intelligent Electric, Inc. (a) 22,037   7,803
Fisker, Inc. (a) 7,875   48,353
Ford Motor Co. 42,091   530,347
General Motors Co. 15,227   558,526
Lordstown Motors Corp., Class A (a) 5,128   3,400
Lucid Group, Inc. (a) 5,200   41,808
Mullen Automotive, Inc. (a) 44,055   5,784
Rivian Automotive, Inc., Class A (a) 6,000   92,880
Stellantis NV 40,194   732,293
 
See Notes to Schedule of Investments.
36 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Tesla, Inc. (a) 27,677   $5,741,871
Thor Industries, Inc. 634   50,492
Winnebago Industries, Inc. 1,317   75,991
Workhorse Group, Inc. (a) 7,669   10,200
      7,909,209
Automotive Parts & Equipment - 0.1%
Adient PLC (a) 4,307   176,415
American Axle & Manufacturing Holdings, Inc. (a) 5,046   39,409
Aptiv PLC (a) 2,991   335,560
BorgWarner, Inc. 2,486   122,088
Dana, Inc. 5,699   85,770
Dorman Products, Inc. (a) 1,162   100,234
Fox Factory Holding Corp. (a) 1,921   233,152
Gentex Corp. 2,458   68,898
Gentherm, Inc. (a) 1,462   88,334
Holley, Inc. (a) 1,728   4,735
LCI Industries 1,130   124,153
Lear Corp. 600   83,694
Luminar Technologies, Inc. (a) 11,068   71,831
Modine Manufacturing Co. (a) 2,212   50,987
Motorcar Parts of America, Inc. (a) 595   4,427
Patrick Industries, Inc. 958   65,920
QuantumScape Corp. (a) 3,600   29,448
Solid Power, Inc. (a) 6,133   18,460
Standard Motor Products, Inc. 907   33,477
Stoneridge, Inc. (a) 1,202   22,477
Visteon Corp. (a) 1,261   197,763
XPEL, Inc. (a) 955   64,892
      2,022,124
Automotive Retail - 0.2%
Advance Auto Parts, Inc. 698   84,884
America's Car-Mart, Inc. (a) 269   21,307
Arko Corp. 3,761   31,931
Asbury Automotive Group, Inc. (a) 1,004   210,840
AutoNation, Inc. (a) 382   51,325
AutoZone, Inc. (a) 206   506,379
Camping World Holdings, Inc., Class A 1,744   36,397
CarMax, Inc. (a) 1,800   115,704
CarParts.com, Inc. (a) 2,475   13,216
Carvana Co. (a) 1,013   9,917
EVgo, Inc. (a) 3,135   24,422
Group 1 Automotive, Inc. 642   145,362
Lithia Motors, Inc. 300   68,679
Monro, Inc. 1,383   68,362
Murphy USA, Inc. 912   235,342
OneWater Marine, Inc., Class A (a) 555   15,523
O'Reilly Automotive, Inc. (a) 681   578,155
Penske Automotive Group, Inc. 270   38,289
RumbleON, Inc., Class B (a) 309   1,873
Sonic Automotive, Inc., Class A 802   43,581
TravelCenters of America, Inc. (a) 563   48,699
      2,350,187
Biotechnology - 1.4%
2seventy bio, Inc. (a) 1,729   17,636
4D Molecular Therapeutics, Inc. (a) 1,368   23,516
  Number
of Shares
  Fair
Value
Aadi Bioscience, Inc. (a) 431   $3,120
AbbVie, Inc. 18,972   3,023,568
Absci Corp. (a) 1,564   2,737
ACADIA Pharmaceuticals, Inc. (a) 5,474   103,021
Acrivon Therapeutics, Inc. (a) 376   4,771
Adicet Bio, Inc. (a) 1,535   8,842
ADMA Biologics, Inc. (a) 9,770   32,339
Aduro Biotech, Inc. (a) 4,580   595
Aerovate Therapeutics, Inc. (a) 461   9,298
Agenus, Inc. (a) 13,909   21,142
Agios Pharmaceuticals, Inc. (a) 2,426   55,725
Akero Therapeutics, Inc. (a) 1,543   59,035
Alector, Inc. (a) 2,859   17,697
Alkermes PLC (a) 7,389   208,296
Allogene Therapeutics, Inc. (a) 3,650   18,031
Allovir, Inc. (a) 1,641   6,466
Alnylam Pharmaceuticals, Inc. (a) 1,381   276,642
Alpine Immune Sciences, Inc. (a) 1,193   9,210
ALX Oncology Holdings, Inc. (a) 654   2,956
Amgen, Inc. 5,629   1,360,811
Amicus Therapeutics, Inc. (a) 12,522   138,869
AnaptysBio, Inc. (a) 929   20,215
Anavex Life Sciences Corp. (a) 3,121   26,747
Anika Therapeutics, Inc. (a) 675   19,386
Apellis Pharmaceuticals, Inc. (a) 4,244   279,934
Arbutus Biopharma Corp. (a) 4,941   14,971
Arcellx, Inc. (a) 1,328   40,916
Arcturus Therapeutics Holdings, Inc. (a) 1,073   25,720
Arcus Biosciences, Inc. (a) 2,300   41,952
Arcutis Biotherapeutics, Inc. (a) 1,889   20,779
Arrowhead Pharmaceuticals, Inc. (a) 4,682   118,923
Atara Biotherapeutics, Inc. (a) 4,598   13,334
Aura Biosciences, Inc. (a) 1,166   10,820
Avid Bioservices, Inc. (a) 2,733   51,271
Avidity Biosciences, Inc. (a) 2,839   43,579
Beam Therapeutics, Inc. (a) 2,801   85,767
BioCryst Pharmaceuticals, Inc. (a) 8,215   68,513
Biogen, Inc. (a) 1,592   442,624
Biohaven Ltd. (a) 2,834   38,712
BioMarin Pharmaceutical, Inc. (a) 1,889   183,686
Bioxcel Therapeutics, Inc. (a) 871   16,253
Bluebird Bio, Inc. (a) 4,482   14,253
Blueprint Medicines Corp. (a) 2,717   122,238
Bridgebio Pharma, Inc. (a) 4,683   77,644
C4 Therapeutics, Inc. (a) 1,389   4,361
CareDx, Inc. (a) 2,320   21,205
Caribou Biosciences, Inc. (a) 2,759   14,650
Catalyst Pharmaceuticals, Inc. (a) 4,301   71,311
Celldex Therapeutics, Inc. (a) 2,022   72,752
Celularity, Inc. (a) 250   155
Century Therapeutics, Inc. (a) 612   2,124
Cerevel Therapeutics Holdings, Inc. (a) 2,539   61,926
Chimerix, Inc. (a) 2,491   3,139
Chinook Therapeutics, Inc. (a) 2,257   52,250
Cogent Biosciences, Inc. (a) 2,876   31,032
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 37

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Coherus Biosciences, Inc. (a) 3,366   $23,023
Crinetics Pharmaceuticals, Inc. (a) 2,353   37,789
CSL Ltd. 8,689   1,686,075
CTI BioPharma Corp. (a) 4,594   19,295
Cullinan Oncology, Inc. (a) 1,139   11,652
Cytokinetics, Inc. (a) 3,730   131,259
Day One Biopharmaceuticals, Inc. (a) 1,262   16,873
Deciphera Pharmaceuticals, Inc. (a) 2,396   37,018
Denali Therapeutics, Inc. (a) 4,950   114,048
Design Therapeutics, Inc. (a) 1,688   9,740
Dynavax Technologies Corp. (a) 5,321   52,199
Dyne Therapeutics, Inc. (a) 1,455   16,762
Eagle Pharmaceuticals, Inc. (a) 500   14,185
Editas Medicine, Inc. (a) 3,134   22,722
Eiger BioPharmaceuticals, Inc. (a) 1,294   1,161
Emergent BioSolutions, Inc. (a) 2,299   23,818
Enanta Pharmaceuticals, Inc. (a) 877   35,466
Enochian Biosciences, Inc. (a) 1,151   1,053
EQRx, Inc. (a) 9,260   17,964
Erasca, Inc. (a) 3,602   10,842
Exact Sciences Corp. (a) 2,000   135,620
Exelixis, Inc. (a) 3,500   67,935
Fate Therapeutics, Inc. (a) 3,814   21,740
FibroGen, Inc. (a) 3,865   72,121
Foghorn Therapeutics, Inc. (a) 650   4,030
Generation Bio Co. (a) 2,426   10,432
Geron Corp. (a) 18,614   40,392
Gilead Sciences, Inc. 13,455   1,116,361
Gossamer Bio, Inc. (a) 2,096   2,641
GreenLight Biosciences Holdings PBC (a) 232   100
Halozyme Therapeutics, Inc. (a) 6,034   230,438
Heron Therapeutics, Inc. (a) 5,147   7,772
HilleVax, Inc. (a) 759   12,546
Horizon Therapeutics PLC (a) 2,409   262,918
Humacyte, Inc. (a) 2,556   7,898
Icosavax, Inc. (a) 1,163   6,745
Ideaya Biosciences, Inc. (a) 1,993   27,364
IGM Biosciences, Inc. (a) 539   7,406
ImmunityBio, Inc. (a) 4,306   7,837
ImmunoGen, Inc. (a) 9,630   36,979
Immunovant, Inc. (a) 2,003   31,067
Incyte Corp. (a) 1,846   133,410
Inhibrx, Inc. (a) 1,466   27,663
Inovio Pharmaceuticals, Inc. (a) 12,192   9,997
Insmed, Inc. (a) 6,155   104,943
Instil Bio, Inc. (a) 2,220   1,467
Intellia Therapeutics, Inc. (a) 3,764   140,284
Intercept Pharmaceuticals, Inc. (a) 1,121   15,055
Invivyd, Inc. (a) 1,522   1,826
Ionis Pharmaceuticals, Inc. (a) 1,500   53,610
Iovance Biotherapeutics, Inc. (a) 6,730   41,120
Ironwood Pharmaceuticals, Inc. (a) 6,061   63,762
iTeos Therapeutics, Inc. (a) 1,138   15,488
IVERIC bio, Inc. (a) 6,200   150,846
  Number
of Shares
  Fair
Value
Janux Therapeutics, Inc. (a) 862   $10,430
Jounce Therapeutics, Inc. (a) 1,241   2,296
KalVista Pharmaceuticals, Inc. (a) 772   6,068
Karuna Therapeutics, Inc. (a) 1,462   265,558
Karyopharm Therapeutics, Inc. (a) 3,819   14,856
Keros Therapeutics, Inc. (a) 859   36,679
Kezar Life Sciences, Inc. (a) 2,657   8,316
Kiniksa Pharmaceuticals Ltd., Class A (a) 1,443   15,527
Kinnate Biopharma, Inc. (a) 962   6,013
Kodiak Sciences, Inc. (a) 1,076   6,671
Kronos Bio, Inc. (a) 1,217   1,777
Krystal Biotech, Inc. (a) 944   75,577
Kura Oncology, Inc. (a) 2,931   35,846
Kymera Therapeutics, Inc. (a) 1,681   49,808
Legend Biotech Corp. ADR (a) 500   24,110
Lexicon Pharmaceuticals, Inc. (a) 4,215   10,242
Lyell Immunopharma, Inc. (a) 7,525   17,759
MacroGenics, Inc. (a) 2,867   20,556
Madrigal Pharmaceuticals, Inc. (a) 578   140,026
MannKind Corp. (a) 11,326   46,437
MeiraGTx Holdings PLC (a) 1,671   8,639
Mersana Therapeutics, Inc. (a) 4,237   17,414
MiMedx Group, Inc. (a) 5,183   17,674
Mineralys Therapeutics, Inc. (a) 526   8,237
Mirati Therapeutics, Inc. (a) 500   18,590
Mirum Pharmaceuticals, Inc. (a) 847   20,345
Moderna, Inc. (a) 3,508   538,759
Monte Rosa Therapeutics, Inc. (a) 1,484   11,560
Morphic Holding, Inc. (a) 1,144   43,060
Myriad Genetics, Inc. (a) 3,518   81,723
Natera, Inc. (a) 1,100   61,072
Neurocrine Biosciences, Inc. (a) 1,000   101,220
Nkarta, Inc. (a) 1,076   3,820
Novavax, Inc. (a) 800   5,544
Nurix Therapeutics, Inc. (a) 2,141   19,012
Nuvalent, Inc., Class A (a) 914   23,846
Ocugen, Inc. (a) 10,893   9,293
Organogenesis Holdings, Inc. (a) 2,288   4,873
Outlook Therapeutics, Inc. (a) 7,944   8,659
Pardes Biosciences, Inc. (a) 688   908
PepGen, Inc. (a) 719   8,793
PMV Pharmaceuticals, Inc. (a) 1,238   5,905
Point Biopharma Global, Inc. (a) 3,869   28,128
Praxis Precision Medicines, Inc. (a) 1,064   861
Precigen, Inc. (a) 6,491   6,880
Prime Medicine, Inc. (a) 556   6,839
Prometheus Biosciences, Inc. (a) 1,578   169,351
Protagonist Therapeutics, Inc. (a) 2,073   47,679
PTC Therapeutics, Inc. (a) 3,188   154,427
Rallybio Corp. (a) 472   2,695
RAPT Therapeutics, Inc. (a) 1,400   25,690
Recursion Pharmaceuticals, Inc., Class A (a) 6,092   40,634
Regeneron Pharmaceuticals, Inc. (a) 1,141   937,525
 
See Notes to Schedule of Investments.
38 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
REGENXBIO, Inc. (a) 1,798   $34,000
Relay Therapeutics, Inc. (a) 3,776   62,191
Replimune Group, Inc. (a) 2,157   38,093
REVOLUTION Medicines, Inc. (a) 3,840   83,174
Rigel Pharmaceuticals, Inc. (a) 8,526   11,254
Rocket Pharmaceuticals, Inc. (a) 2,396   41,043
Sage Therapeutics, Inc. (a) 2,372   99,529
Sana Biotechnology, Inc. (a) 4,319   14,123
Sangamo Therapeutics, Inc. (a) 6,601   11,618
Sarepta Therapeutics, Inc. (a) 900   124,047
Seagen, Inc. (a) 1,400   283,458
Seres Therapeutics, Inc. (a) 3,347   18,978
SpringWorks Therapeutics, Inc. (a) 1,605   41,313
Stoke Therapeutics, Inc. (a) 1,137   9,471
Sutro Biopharma, Inc. (a) 2,642   12,206
Syndax Pharmaceuticals, Inc. (a) 2,759   58,270
Talaris Therapeutics, Inc. (a) 1,022   1,921
Tango Therapeutics, Inc. (a) 2,348   9,275
Tenaya Therapeutics, Inc. (a) 2,335   6,655
TG Therapeutics, Inc. (a) 5,871   88,300
Travere Therapeutics, Inc. (a) 2,734   61,488
Twist Bioscience Corp. (a) 2,507   37,806
Tyra Biosciences, Inc. (a) 664   10,670
Ultragenyx Pharmaceutical, Inc. (a) 700   28,070
United Therapeutics Corp. (a) 511   114,444
Vanda Pharmaceuticals, Inc. (a) 2,655   18,027
Vaxart, Inc. (a) 4,149   3,140
Vaxcyte, Inc. (a) 3,260   122,185
VBI Vaccines, Inc. (a) 5,711   1,730
Vera Therapeutics, Inc. (a) 1,114   8,645
Veracyte, Inc. (a) 3,170   70,691
Vericel Corp. (a) 2,093   61,367
Vertex Pharmaceuticals, Inc. (a) 2,681   844,703
Verve Therapeutics, Inc. (a) 2,098   30,253
Vir Biotechnology, Inc. (a) 3,210   74,697
Viridian Therapeutics, Inc. (a) 1,686   42,892
VistaGen Therapeutics, Inc. (a) 6,880   858
Xencor, Inc. (a) 2,539   70,813
Y-mAbs Therapeutics, Inc. (a) 1,239   6,207
Zentalis Pharmaceuticals, Inc. (a) 2,105   36,206
      18,598,240
Brewers - 0.0% *
Boston Beer Co., Inc., Class A (a) 114   37,472
Molson Coors Beverage Co., Class B 1,800   93,024
      130,496
Broadcasting - 0.1%
AMC Networks, Inc., Class A (a) 1,369   24,067
Audacy, Inc. (a) 5,877   792
Cumulus Media, Inc., Class A (a) 526   1,941
Entravision Communications Corp., Class A 2,751   16,644
EW Scripps Co., Class A (a) 2,647   24,908
  Number
of Shares
  Fair
Value
Fox Corp., Class A 3,800   $129,390
Fox Corp., Class B 1,000   31,310
Gray Television, Inc. 3,682   32,107
iHeartMedia, Inc., Class A (a) 5,446   21,239
Nexstar Media Group, Inc. 424   73,208
Paramount Global, Class B 6,004   133,949
Paramount Global, Class A 500   12,920
Sinclair Broadcast Group, Inc., Class A 1,817   31,180
TEGNA, Inc. 10,109   170,943
Urban One, Inc. (a) 814   4,756
      709,354
Broadline Retail - 0.8%
1stdibs.com, Inc. (a) 672   2,668
Amazon.com, Inc. (a)(c) 95,120   9,824,945
Big Lots, Inc. 1,310   14,358
ContextLogic, Inc., Class A (a) 28,654   12,774
Dillard's, Inc., Class A 177   54,459
eBay, Inc. 5,548   246,165
Etsy, Inc. (a) 1,391   154,860
Groupon, Inc. (a) 669   2,816
Kohl's Corp. 1,200   28,248
Macy's, Inc. 3,000   52,470
Nordstrom, Inc. 1,200   19,524
Ollie's Bargain Outlet Holdings, Inc. (a) 500   28,970
Qurate Retail, Inc., Series A Series A (a) 16,062   15,866
      10,458,123
Building Products - 0.3%
A O Smith Corp. 1,406   97,225
AAON, Inc. 1,988   192,220
Advanced Drainage Systems, Inc. 700   58,947
Allegion PLC 956   102,034
American Woodmark Corp. (a) 740   38,532
Apogee Enterprises, Inc. 993   42,947
Armstrong World Industries, Inc. 500   35,620
AZEK Co., Inc. (a) 1,400   32,956
AZZ, Inc. 1,096   45,199
Builders FirstSource, Inc. (a) 1,500   133,170
Caesarstone Ltd. 1,253   5,175
Carlisle Cos., Inc. 580   131,121
Carrier Global Corp. 9,192   420,534
CSW Industrials, Inc. 645   89,610
Fortune Brands Innovations, Inc. 1,435   84,278
Gibraltar Industries, Inc. (a) 1,377   66,784
Griffon Corp. 1,896   60,691
Insteel Industries, Inc. 852   23,703
Janus International Group, Inc. (a) 3,661   36,097
JELD-WEN Holding, Inc. (a) 3,717   47,057
Johnson Controls International PLC 7,395   445,327
Lennox International, Inc. 300   75,384
Masco Corp. 2,300   114,356
Masonite International Corp. (a) 983   89,227
Masterbrand, Inc. (a) 1,435   11,537
Owens Corning 999   95,704
PGT Innovations, Inc. (a) 2,569   64,508
Quanex Building Products Corp. 1,487   32,015
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 39

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Resideo Technologies, Inc. (a) 6,578   $120,246
Simpson Manufacturing Co., Inc. 1,939   212,592
Trane Technologies PLC 2,413   443,944
Trex Co., Inc. (a) 996   48,475
UFP Industries, Inc. 2,709   215,284
View, Inc. (a) 3,430   1,715
Zurn Elkay Water Solutions Corp. 5,648   120,641
      3,834,855
Cable & Satellite - 0.2%
Altice USA, Inc., Class A (a) 700   2,394
Cable One, Inc. 64   44,928
Charter Communications, Inc., Class A (a) 1,191   425,913
Comcast Corp., Class A 45,789   1,735,861
DISH Network Corp., Class A (a) 2,400   22,392
Liberty Broadband Corp., Class A (a) 300   24,636
Liberty Broadband Corp., Class C (a) 1,200   98,040
Liberty Media Corp.-Liberty SiriusXM, Class A (a) 500   14,045
Liberty Media Corp.-Liberty SiriusXM, Class C (a) 1,797   50,298
Sirius XM Holdings, Inc. 6,300   25,011
WideOpenWest, Inc. (a) 2,441   25,948
      2,469,466
Cargo Ground Transportation - 0.1%
ArcBest Corp. 1,102   101,847
Covenant Logistics Group, Inc. 449   15,904
Daseke, Inc. (a) 1,887   14,586
Heartland Express, Inc. 2,103   33,480
JB Hunt Transport Services, Inc. 954   167,389
Knight-Swift Transportation Holdings, Inc. 1,622   91,773
Landstar System, Inc. 444   79,591
Marten Transport Ltd. 2,592   54,302
Old Dominion Freight Line, Inc. 1,084   369,470
PAM Transportation Services, Inc. (a) 233   6,671
RXO, Inc. (a) 700   13,748
Ryder System, Inc. 594   53,009
Saia, Inc. (a) 1,201   326,768
Schneider National, Inc., Class B 800   21,400
TuSimple Holdings, Inc., Class A (a) 7,095   10,430
U-Haul Holding Co. 830   43,683
Universal Logistics Holdings, Inc. 360   10,494
Werner Enterprises, Inc. 2,880   131,011
XPO, Inc. (a) 1,200   38,280
      1,583,836
Casinos & Gaming - 0.1%
Accel Entertainment, Inc. (a) 2,551   23,240
Bally's Corp. (a) 1,619   31,603
Boyd Gaming Corp. 900   57,708
Caesars Entertainment, Inc. (a) 2,359   115,143
Century Casinos, Inc. (a) 1,371   10,049
Churchill Downs, Inc. 400   102,820
DraftKings, Inc., Class A (a) 3,400   65,824
  Number
of Shares
  Fair
Value
Everi Holdings, Inc. (a) 3,822   $65,547
Full House Resorts, Inc. (a) 1,622   11,727
Golden Entertainment, Inc. (a) 902   39,246
Inspired Entertainment, Inc. (a) 1,041   13,314
International Game Technology PLC 4,469   119,769
Las Vegas Sands Corp. (a) 3,559   204,464
Light & Wonder, Inc. (a) 4,276   256,774
MGM Resorts International 3,200   142,144
Monarch Casino & Resort, Inc. 595   44,119
Penn Entertainment, Inc. (a) 1,700   50,422
Red Rock Resorts, Inc., Class A 2,310   102,957
Rush Street Interactive, Inc. (a) 3,062   9,523
Wynn Resorts Ltd. (a) 1,170   130,935
      1,597,328
Coal & Consumable Fuels - 0.0% *
Arch Resources, Inc. 655   86,106
Centrus Energy Corp., Class A (a) 490   15,778
CONSOL Energy, Inc. 1,516   88,337
Energy Fuels, Inc. (a) 6,979   38,943
Enviva, Inc. 300   8,664
NACCO Industries, Inc., Class A 210   7,575
Peabody Energy Corp. (a) 5,350   136,960
Uranium Energy Corp. (a) 15,710   45,245
Ur-Energy, Inc. (a) 10,536   11,168
      438,776
Commercial & Residential Mortgage Finance - 0.1%
Enact Holdings, Inc. 1,354   30,952
Essent Group Ltd. 4,777   191,319
Federal Agricultural Mortgage Corp., Class C 405   53,942
Finance of America Cos., Inc., Class A (a) 887   1,100
Merchants Bancorp 722   18,801
MGIC Investment Corp. 3,500   46,970
Mr Cooper Group, Inc. (a) 3,150   129,056
NMI Holdings, Inc., Class A (a) 3,627   80,991
PennyMac Financial Services, Inc. 1,185   70,638
Radian Group, Inc. 7,148   157,971
Rocket Cos., Inc., Class A (a) 1,600   14,496
TFS Financial Corp. 400   5,052
Velocity Financial, Inc. (a) 218   1,969
Walker & Dunlop, Inc. 1,397   106,409
Waterstone Financial, Inc. 919   13,904
      923,570
Commercial Printing - 0.0% *
Brady Corp., Class A 2,055   110,415
Deluxe Corp. 1,947   31,152
Ennis, Inc. 1,158   24,422
Quad/Graphics, Inc. (a) 943   4,046
      170,035
Commodity Chemicals - 0.1%
AdvanSix, Inc. 1,192   45,618
Cabot Corp. 2,521   193,209
Dow, Inc. 7,786   426,829
Hawkins, Inc. 872   38,176
Koppers Holdings, Inc. 915   31,998
Kronos Worldwide, Inc. 1,114   10,260
 
See Notes to Schedule of Investments.
40 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
LyondellBasell Industries NV, Class A 2,734   $256,695
Mativ Holdings, Inc. 2,416   51,872
Olin Corp. 1,390   77,145
Origin Materials, Inc. (a) 4,819   20,577
PureCycle Technologies, Inc. (a) 4,833   33,831
Trinseo PLC 1,573   32,797
Tronox Holdings PLC 5,172   74,373
Valvoline, Inc. 2,000   69,880
Westlake Corp. 300   34,794
      1,398,054
Communications Equipment - 0.3%
ADTRAN Holdings, Inc. 3,410   54,083
Arista Networks, Inc. (a) 2,653   445,332
Aviat Networks, Inc. (a) 517   17,816
Calix, Inc. (a) 2,612   139,977
Cambium Networks Corp. (a) 575   10,189
Casa Systems, Inc. (a) 1,006   1,278
Ciena Corp. (a) 1,379   72,425
Cisco Systems, Inc. 43,856   2,292,572
Clearfield, Inc. (a) 598   27,855
CommScope Holding Co., Inc. (a) 9,094   57,929
Comtech Telecommunications Corp. 1,246   15,550
Digi International, Inc. (a) 1,522   51,261
DZS, Inc. (a) 1,034   8,158
Extreme Networks, Inc. (a) 5,745   109,844
F5, Inc. (a) 600   87,414
Harmonic, Inc. (a) 4,097   59,775
Infinera Corp. (a) 8,575   66,542
Inseego Corp. (a) 2,591   1,509
Juniper Networks, Inc. 3,555   122,363
Lumentum Holdings, Inc. (a) 800   43,208
Motorola Solutions, Inc. 1,829   523,332
NETGEAR, Inc. (a) 1,294   23,952
NetScout Systems, Inc. (a) 3,094   88,643
Ondas Holdings, Inc. (a) 995   1,075
Ribbon Communications, Inc. (a) 3,535   12,090
Ubiquiti, Inc. 100   27,169
Viasat, Inc. (a) 700   23,688
Viavi Solutions, Inc. (a) 10,219   110,672
      4,495,701
Computer & Electronics Retail - 0.0% *
Best Buy Co., Inc. 2,138   167,341
Conn's, Inc. (a) 364   2,206
GameStop Corp., Class A (a) 2,800   64,456
Upbound Group, Inc. 2,219   54,388
      288,391
Construction & Engineering - 0.2%
AECOM 1,300   109,616
Ameresco, Inc., Class A (a) 1,411   69,450
API Group Corp. (a) 9,375   210,750
Arcosa, Inc. 2,201   138,905
Argan, Inc. 598   24,201
Comfort Systems USA, Inc. 1,605   234,266
Concrete Pumping Holdings, Inc. (a) 1,296   8,813
Construction Partners, Inc., Class A (a) 1,779   47,926
Dycom Industries, Inc. (a) 1,313   122,963
EMCOR Group, Inc. 2,136   347,292
  Number
of Shares
  Fair
Value
Fluor Corp. (a) 6,451   $199,400
Granite Construction, Inc. 1,955   80,311
Great Lakes Dredge & Dock Corp. (a) 3,037   16,491
IES Holdings, Inc. (a) 403   17,365
MasTec, Inc. (a) 600   56,664
MDU Resources Group, Inc. 2,200   67,056
MYR Group, Inc. (a) 724   91,231
Northwest Pipe Co. (a) 453   14,147
Primoris Services Corp. 2,353   58,025
Quanta Services, Inc. 1,438   239,628
Sterling Infrastructure, Inc. (a) 1,303   49,358
Tutor Perini Corp. (a) 2,057   12,692
Valmont Industries, Inc. 239   76,308
WillScot Mobile Mini Holdings Corp. (a) 2,000   93,760
      2,386,618
Construction Machinery & Heavy Transportation Equipment - 0.2%
Alamo Group, Inc. 445   81,951
Allison Transmission Holdings, Inc. 900   40,716
Astec Industries, Inc. 1,019   42,034
Blue Bird Corp. (a) 839   17,141
Caterpillar, Inc. 5,515   1,262,053
Cummins, Inc. 1,458   348,287
Douglas Dynamics, Inc. 1,011   32,241
Federal Signal Corp. 2,713   147,072
Greenbrier Cos., Inc. 1,422   45,746
Hyliion Holdings Corp. (a) 5,974   11,829
Hyzon Motors, Inc. (a) 2,626   2,140
Lightning eMotors, Inc. (a) 1,124   322
Manitowoc Co., Inc. (a) 1,567   26,780
Microvast Holdings, Inc. (a) 8,600   10,664
Miller Industries, Inc. 530   18,735
Nikola Corp. (a) 15,327   18,546
Oshkosh Corp. 600   49,908
PACCAR, Inc. 5,505   402,966
Proterra, Inc. (a) 10,104   15,358
REV Group, Inc. 1,566   18,776
Shyft Group, Inc. 1,546   35,171
Terex Corp. 3,027   146,446
Trinity Industries, Inc. 3,625   88,305
Wabash National Corp. 2,113   51,959
Westinghouse Air Brake Technologies Corp. 1,841   186,051
Xos, Inc. (a) 1,429   750
      3,101,947
Construction Materials - 0.1%
Eagle Materials, Inc. 400   58,700
Holcim AG (a) 9,900   639,442
James Hardie Industries PLC 7,851   169,312
Martin Marietta Materials, Inc. 667   236,825
Summit Materials, Inc., Class A (a) 5,397   153,760
U.S. Lime & Minerals, Inc. 98   14,964
Vulcan Materials Co. 1,331   228,346
      1,501,349
Consumer Electronics - 0.0% *
Garmin Ltd. 1,548   156,224
GoPro, Inc., Class A (a) 5,841   29,380
Snap One Holdings Corp. (a) 920   8,602
Sonos, Inc. (a) 5,806   113,914
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 41

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Universal Electronics, Inc. (a) 391   $3,965
Vizio Holding Corp., Class A (a) 3,115   28,595
Vuzix Corp. (a) 2,941   12,176
      352,856
Consumer Finance - 0.2%
Ally Financial, Inc. 3,427   87,354
American Express Co. 6,457   1,065,082
Atlanticus Holdings Corp. (a) 130   3,527
Bread Financial Holdings, Inc. 2,213   67,098
Capital One Financial Corp. 4,210   404,834
Consumer Portfolio Services, Inc. (a) 417   4,458
Credit Acceptance Corp. (a) 81   35,319
Curo Group Holdings Corp. 637   1,102
Discover Financial Services 2,975   294,049
Encore Capital Group, Inc. (a) 1,032   52,064
Enova International, Inc. (a) 1,363   60,558
EZCORP, Inc., Class A (a) 2,299   19,771
FirstCash Holdings, Inc. 1,709   162,987
Green Dot Corp., Class A (a) 2,109   36,233
LendingClub Corp. (a) 4,660   33,599
LendingTree, Inc. (a) 490   13,063
Moneylion, Inc. (a) 4,517   2,565
Navient Corp. 4,667   74,625
Nelnet, Inc., Class A 647   59,453
NerdWallet, Inc., Class A (a) 1,184   19,157
OneMain Holdings, Inc. 1,000   37,080
Oportun Financial Corp. (a) 864   3,335
PRA Group, Inc. (a) 1,706   66,466
PROG Holdings, Inc. (a) 2,221   52,838
Regional Management Corp. 380   9,914
SLM Corp. 3,000   37,170
SoFi Technologies, Inc. (a) 8,000   48,560
Sunlight Financial Holdings, Inc. (a) 623   195
Synchrony Financial 4,542   132,081
Upstart Holdings, Inc. (a) 500   7,945
World Acceptance Corp. (a) 182   15,159
      2,907,641
Consumer Staples Merchandise Retail - 0.5%
BJ's Wholesale Club Holdings, Inc. (a) 1,400   106,498
Costco Wholesale Corp. 4,775   2,372,554
Dollar General Corp. 2,437   512,891
Dollar Tree, Inc. (a) 2,326   333,897
PriceSmart, Inc. 1,173   83,846
Target Corp. 4,974   823,844
Walmart, Inc. 15,208   2,242,420
      6,475,950
Copper - 0.0% *
Freeport-McMoRan, Inc. 15,398   629,932
Data Center REITs - 0.1%
Digital Realty Trust, Inc. 2,921   287,163
Equinix, Inc. 1,018   734,019
      1,021,182
Data Processing & Outsourced Services - 0.1%
Broadridge Financial Solutions, Inc. 1,247   182,773
Computershare Ltd. 10,706   155,809
Concentrix Corp. 452   54,941
  Number
of Shares
  Fair
Value
Conduent, Inc. (a) 7,686   $26,363
CSG Systems International, Inc. 1,375   73,837
ExlService Holdings, Inc. (a) 1,466   237,243
Genpact Ltd. 1,800   83,196
IBEX Holdings Ltd. (a) 428   10,443
Maximus, Inc. 2,744   215,953
SS&C Technologies Holdings, Inc. 2,300   129,881
TTEC Holdings, Inc. 849   31,608
Verra Mobility Corp. (a) 6,379   107,933
      1,309,980
Distillers & Vintners - 0.0% *
Brown-Forman Corp., Class B 2,035   130,789
Brown-Forman Corp., Class A 300   19,557
Constellation Brands, Inc., Class A 1,708   385,820
Duckhorn Portfolio, Inc. (a) 1,902   30,242
MGP Ingredients, Inc. 623   60,257
Vintage Wine Estates, Inc. (a) 972   1,040
      627,705
Distributors - 0.0% *
Funko, Inc., Class A (a) 1,563   14,739
Genuine Parts Co. 1,400   234,234
LKQ Corp. 2,746   155,863
Pool Corp. 423   144,852
Weyco Group, Inc. 307   7,767
      557,455
Diversified Banks - 0.7%
Bank of America Corp. 75,251   2,152,179
Citigroup, Inc. 20,752   973,061
JPMorgan Chase & Co. 31,141   4,057,984
U.S. Bancorp 14,400   519,120
Wells Fargo & Co. 40,659   1,519,833
      9,222,177
Diversified Chemicals - 0.0% *
Chemours Co. 1,400   41,916
Huntsman Corp. 1,911   52,285
LSB Industries, Inc. (a) 3,301   34,099
      128,300
Diversified Financial Services - 0.0% *
Alerus Financial Corp. 744   11,941
Apollo Global Management, Inc. 5,154   325,527
Corebridge Financial, Inc. 900   14,418
Equitable Holdings, Inc. 3,900   99,021
Jackson Financial, Inc., Class A 3,401   127,231
Voya Financial, Inc. 1,100   78,606
      656,744
Diversified Metals & Mining - 0.0% *
5E Advanced Materials, Inc. (a) 1,943   10,531
Compass Minerals International, Inc. 1,524   52,258
Ferroglobe PLC (d) 1,316  
Ivanhoe Electric, Inc. (a) 2,016   24,494
Materion Corp. 930   107,880
MP Materials Corp. (a) 800   22,552
 
See Notes to Schedule of Investments.
42 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Piedmont Lithium, Inc. (a) 775   $46,539
      264,254
Diversified Real Estate Activities - 0.0% *
RMR Group, Inc., Class A 705   18,499
St. Joe Co. 1,529   63,622
Tejon Ranch Co. (a) 961   17,557
      99,678
Diversified REITs - 0.1%
Alexander & Baldwin, Inc. 3,216   60,814
American Assets Trust, Inc. 2,201   40,917
Armada Hoffler Properties, Inc. 3,011   35,560
Broadstone Net Lease, Inc. 7,863   133,750
CTO Realty Growth, Inc. 959   16,552
Empire State Realty Trust, Inc., Class A 5,937   38,531
Essential Properties Realty Trust, Inc. 6,381   158,568
Gladstone Commercial Corp. 1,787   22,570
Global Net Lease, Inc. 4,623   59,452
One Liberty Properties, Inc. 781   17,908
WP Carey, Inc. 2,131   165,046
      749,668
Diversified Support Services - 0.1%
ACV Auctions, Inc., Class A (a) 5,223   67,429
Cintas Corp. 943   436,307
Copart, Inc. (a) 4,748   357,097
Driven Brands Holdings, Inc. (a) 900   27,279
Healthcare Services Group, Inc. 3,318   46,021
KAR Auction Services, Inc. (a) 4,789   65,513
Liquidity Services, Inc. (a) 1,062   13,987
Matthews International Corp., Class A 1,332   48,032
UniFirst Corp. 680   119,836
Viad Corp. (a) 932   19,423
VSE Corp. 481   21,597
      1,222,521
Drug Retail - 0.0% *
Rite Aid Corp. (a) 1,790   4,010
Walgreens Boots Alliance, Inc. 7,276   251,604
      255,614
Education Services - 0.1%
2U, Inc. (a) 3,424   23,454
Adtalem Global Education, Inc. (a) 1,985   76,661
American Public Education, Inc. (a) 601   3,258
Bright Horizons Family Solutions, Inc. (a) 591   45,501
Chegg, Inc. (a) 5,491   89,503
Coursera, Inc. (a) 5,066   58,360
Duolingo, Inc. (a) 1,092   155,708
Graham Holdings Co., Class B 163   97,122
Grand Canyon Education, Inc. (a) 300   34,170
Laureate Education, Inc. 5,955   70,031
Nerdy, Inc. (a) 2,782   11,629
Perdoceo Education Corp. (a) 3,012   40,451
Strategic Education, Inc. 1,003   90,100
Stride, Inc. (a) 1,921   75,399
  Number
of Shares
  Fair
Value
Udemy, Inc. (a) 3,294   $29,086
Universal Technical Institute, Inc. (a) 1,648   12,162
      912,595
Electric Utilities - 0.6%
ALLETE, Inc. 2,601   167,426
Alliant Energy Corp. 2,756   147,170
American Electric Power Co., Inc. 5,588   508,452
Avangrid, Inc. 898   35,812
Constellation Energy Corp. 3,407   267,450
Duke Energy Corp. 8,188   789,896
Edison International 4,011   283,137
Entergy Corp. 2,084   224,530
Evergy, Inc. 2,187   133,669
Eversource Energy 3,514   275,006
Exelon Corp. 10,688   447,720
FirstEnergy Corp. 5,528   221,452
Hawaiian Electric Industries, Inc. 1,100   42,240
IDACORP, Inc. 500   54,165
MGE Energy, Inc. 1,655   128,544
NextEra Energy, Inc. 21,257   1,638,490
NRG Energy, Inc. 2,461   84,388
OGE Energy Corp. 2,150   80,969
Otter Tail Corp. 1,869   135,073
PG&E Corp. (a) 18,200   294,294
Pinnacle West Capital Corp. 1,184   93,820
PNM Resources, Inc. 3,873   188,538
Portland General Electric Co. 4,056   198,298
PPL Corp. 8,000   222,320
Southern Co. 11,585   806,084
Via Renewables, Inc. 61   1,121
Xcel Energy, Inc. 5,873   396,075
      7,866,139
Electrical Components & Equipment - 0.4%
Acuity Brands, Inc. 300   54,819
Allied Motion Technologies, Inc. 609   23,538
AMETEK, Inc. 2,527   367,249
Array Technologies, Inc. (a) 6,848   149,834
Atkore, Inc. (a) 1,784   250,616
Blink Charging Co. (a) 1,834   15,864
ChargePoint Holdings, Inc. (a) 2,400   25,128
Eaton Corp. PLC 4,318   739,846
Emerson Electric Co. 6,229   542,795
Encore Wire Corp. 804   149,005
EnerSys 1,852   160,902
Enovix Corp. (a) 4,852   72,343
ESS Tech, Inc. (a) 2,528   3,514
Fluence Energy, Inc. (a) 1,619   32,785
FTC Solar, Inc. (a) 1,229   2,765
FuelCell Energy, Inc. (a) 18,147   51,719
Generac Holdings, Inc. (a) 598   64,590
GrafTech International Ltd. 8,646   42,020
Heliogen, Inc. (a) 1,114   268
Hubbell, Inc. 600   145,986
NEXTracker, Inc. (a) 1,341   48,625
nVent Electric PLC 1,600   68,704
Plug Power, Inc. (a) 5,100   59,772
Powell Industries, Inc. 436   18,569
Preformed Line Products Co. 121   15,493
Regal Rexnord Corp. 667   93,867
Rockwell Automation, Inc. 1,222   358,596
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 43

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Schneider Electric SE 9,776   $1,636,740
Sensata Technologies Holding PLC 1,800   90,036
Shoals Technologies Group, Inc., Class A (a) 7,385   168,304
Stem, Inc. (a) 6,414   36,367
SunPower Corp. (a) 3,638   50,350
Sunrun, Inc. (a) 2,300   46,345
Thermon Group Holdings, Inc. (a) 1,484   36,981
Vertiv Holdings Co. 2,900   41,499
Vicor Corp. (a) 985   46,236
      5,712,070
Electronic Components - 0.1%
Akoustis Technologies, Inc. (a) 3,351   10,321
Amphenol Corp., Class A 6,199   506,582
Belden, Inc. 1,927   167,206
Coherent Corp. (a) 1,373   52,284
Corning, Inc. 8,017   282,840
Knowles Corp. (a) 3,972   67,524
Lightwave Logic, Inc. (a) 5,111   26,731
Littelfuse, Inc. 300   80,427
Rogers Corp. (a) 852   139,242
Vishay Intertechnology, Inc. 5,902   133,503
      1,466,660
Electronic Equipment & Instruments - 0.2%
908 Devices, Inc. (a) 724   6,226
Advanced Energy Industries, Inc. 1,704   166,992
Aeva Technologies, Inc. (a) 3,153   3,752
AEye, Inc. (a) 1,538   484
Arlo Technologies, Inc. (a) 3,984   24,143
Badger Meter, Inc. 1,328   161,777
Cognex Corp. 1,700   84,235
Evolv Technologies Holdings, Inc. (a) 4,131   12,889
FARO Technologies, Inc. (a) 860   21,165
Focus Universal, Inc. (a) 818   2,044
Identiv, Inc. (a) 704   4,322
Itron, Inc. (a) 2,054   113,894
Keysight Technologies, Inc. (a) 1,973   318,600
MicroVision, Inc. (a) 7,686   20,522
Mirion Technologies, Inc. (a) 6,104   52,128
Napco Security Technologies, Inc. (a) 1,448   54,416
National Instruments Corp. 1,400   73,374
nLight, Inc. (a) 2,032   20,686
Novanta, Inc. (a) 1,608   255,817
OSI Systems, Inc. (a) 710   72,675
Ouster, Inc. (a) 13,755   11,509
PAR Technology Corp. (a) 1,186   40,276
SmartRent, Inc. (a) 5,674   14,469
Teledyne Technologies, Inc. (a) 505   225,917
Trimble, Inc. (a) 2,732   143,211
Vishay Precision Group, Inc. (a) 566   23,636
Vontier Corp. 1,699   46,451
Zebra Technologies Corp., Class A (a) 559   177,762
      2,153,372
Electronic Manufacturing Services - 0.1%
Benchmark Electronics, Inc. 1,568   37,146
CTS Corp. 1,407   69,590
IPG Photonics Corp. (a) 300   36,993
  Number
of Shares
  Fair
Value
Jabil, Inc. 1,414   $124,658
Kimball Electronics, Inc. (a) 1,088   26,221
Methode Electronics, Inc. 1,622   71,173
Plexus Corp. (a) 1,248   121,768
Sanmina Corp. (a) 2,589   157,903
TTM Technologies, Inc. (a) 4,501   60,719
      706,171
Environmental & Facilities Services - 0.1%
ABM Industries, Inc. 3,014   135,449
Aris Water Solutions, Inc., Class A 1,117   8,702
BrightView Holdings, Inc. (a) 2,021   11,358
Casella Waste Systems, Inc., Class A (a) 2,264   187,142
Clean Harbors, Inc. (a) 600   85,536
Harsco Corp. (a) 3,560   24,315
Heritage-Crystal Clean, Inc. (a) 713   25,390
Montrose Environmental Group, Inc. (a) 1,226   43,731
Republic Services, Inc. 2,190   296,132
Rollins, Inc. 2,478   92,999
SP Plus Corp. (a) 908   31,135
Stericycle, Inc. (a) 900   39,249
Tetra Tech, Inc. 500   73,455
Waste Management, Inc. 4,309   703,100
      1,757,693
Fertilizers & Agricultural Chemicals - 0.1%
American Vanguard Corp. 1,274   27,875
CF Industries Holdings, Inc. 1,982   143,675
Corteva, Inc. 7,602   458,477
FMC Corp. 1,264   154,372
Intrepid Potash, Inc. (a) 518   14,297
Mosaic Co. 3,647   167,324
Scotts Miracle-Gro Co. 462   32,220
      998,240
Financial Exchanges & Data - 0.3%
Bakkt Holdings, Inc. (a) 1,663   2,860
Cboe Global Markets, Inc. 1,052   141,221
CME Group, Inc. 3,822   731,989
Coinbase Global, Inc., Class A (a) 1,600   108,112
Donnelley Financial Solutions, Inc. (a) 1,132   46,254
FactSet Research Systems, Inc. 415   172,262
Intercontinental Exchange, Inc. 5,820   606,968
MarketAxess Holdings, Inc. 422   165,124
MarketWise, Inc. (a) 991   1,833
Moody's Corp. 1,638   501,261
Morningstar, Inc. 300   60,909
MSCI, Inc. 857   479,654
Nasdaq, Inc. 3,638   198,890
Open Lending Corp., Class A (a) 4,754   33,468
S&P Global, Inc. 3,536   1,219,107
Tradeweb Markets, Inc., Class A 1,273   100,592
Value Line, Inc. 20   967
      4,571,471
Food Distributors - 0.1%
Andersons, Inc. 1,421   58,716
Chefs' Warehouse, Inc. (a) 1,519   51,722
 
See Notes to Schedule of Investments.
44 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
HF Foods Group, Inc. (a) 1,972   $7,730
Performance Food Group Co. (a) 1,600   96,544
SpartanNash Co. 1,561   38,713
Sysco Corp. 5,318   410,709
U.S. Foods Holding Corp. (a) 2,200   81,268
United Natural Foods, Inc. (a) 2,734   72,041
      817,443
Food Retail - 0.1%
Albertsons Cos., Inc., Class A 1,900   39,482
Casey's General Stores, Inc. 378   81,822
Grocery Outlet Holding Corp. (a) 900   25,434
Ingles Markets, Inc., Class A 632   56,058
Kroger Co. 7,239   357,390
Natural Grocers by Vitamin Cottage, Inc. 425   4,994
Sprouts Farmers Market, Inc. (a) 4,808   168,424
Village Super Market, Inc., Class A 426   9,747
Weis Markets, Inc. 730   61,809
      805,160
Footwear - 0.2%
Allbirds, Inc., Class A (a) 3,139   3,767
Crocs, Inc. (a) 2,744   346,951
Deckers Outdoor Corp. (a) 300   134,865
NIKE, Inc., Class B 13,071   1,603,027
Rocky Brands, Inc. 354   8,167
Skechers USA, Inc., Class A (a) 1,400   66,528
Steven Madden Ltd. 3,499   125,964
Wolverine World Wide, Inc. 3,440   58,652
      2,347,921
Forest Products - 0.0% *
Louisiana-Pacific Corp. 700   37,947
Gas Utilities - 0.1%
Atmos Energy Corp. 1,534   172,360
Chesapeake Utilities Corp. 768   98,296
National Fuel Gas Co. 800   46,192
New Jersey Resources Corp. 4,360   231,952
Northwest Natural Holding Co. 1,535   73,005
ONE Gas, Inc. 2,438   193,163
Southwest Gas Holdings, Inc. 3,037   189,661
Spire, Inc. 2,314   162,304
UGI Corp. 2,200   76,472
      1,243,405
Gold - 0.0% *
Coeur Mining, Inc. (a) 12,521   49,959
Dakota Gold Corp. (a) 2,650   9,593
Hycroft Mining Holding Corp. (a) 4,283   1,852
Newmont Corp. 8,817   432,209
Royal Gold, Inc. 663   85,998
      579,611
Health Care REITs - 0.1%
CareTrust REIT, Inc. 4,520   88,502
Community Healthcare Trust, Inc. 1,063   38,906
Diversified Healthcare Trust 11,476   15,493
Global Medical REIT, Inc. 2,769   25,225
  Number
of Shares
  Fair
Value
Healthcare Realty Trust, Inc. 3,800   $73,454
Healthpeak Properties, Inc. 6,236   137,005
LTC Properties, Inc. 1,774   62,321
Medical Properties Trust, Inc. 7,100   58,362
National Health Investors, Inc. 1,842   95,010
Omega Healthcare Investors, Inc. 2,400   65,784
Physicians Realty Trust 10,349   154,510
Sabra Health Care REIT, Inc. 10,503   120,784
Universal Health Realty Income Trust 581   27,952
Ventas, Inc. 4,338   188,052
Welltower, Inc. 5,114   366,623
      1,517,983
Healthcare Distributors - 0.1%
AdaptHealth Corp. (a) 3,221   40,037
AmerisourceBergen Corp. 1,708   273,468
Cardinal Health, Inc. 2,845   214,797
Henry Schein, Inc. (a) 1,472   120,027
McKesson Corp. 1,521   541,552
Owens & Minor, Inc. (a) 3,292   47,899
Patterson Cos., Inc. 3,967   106,196
PetIQ, Inc. (a) 1,179   13,488
      1,357,464
Healthcare Equipment - 1.0%
Abbott Laboratories 18,332   1,856,298
Alphatec Holdings, Inc. (a) 3,228   50,357
AngioDynamics, Inc. (a) 1,618   16,730
Artivion, Inc. (a) 1,783   23,357
AtriCure, Inc. (a) 2,017   83,605
Axogen, Inc. (a) 1,763   16,660
Axonics, Inc. (a) 2,228   121,560
Baxter International, Inc. 5,117   207,546
Becton Dickinson & Co. 3,045   753,759
Boston Scientific Corp. (a) 15,067   753,802
Butterfly Network, Inc. (a) 6,513   12,244
Cardiovascular Systems, Inc. (a) 1,833   36,403
CONMED Corp. 1,323   137,407
Cue Health, Inc. (a) 5,406   9,839
Cutera, Inc. (a) 758   17,904
Dexcom, Inc. (a) 4,200   487,956
Edwards Lifesciences Corp. (a) 6,571   543,619
Enovis Corp. (a) 633   33,859
Envista Holdings Corp. (a) 1,900   77,672
GE HealthCare Technologies, Inc. (a) 4,049   332,140
Glaukos Corp. (a) 2,018   101,102
Globus Medical, Inc., Class A (a) 800   45,312
Heska Corp. (a) 433   42,270
Hologic, Inc. (a) 2,600   209,820
IDEXX Laboratories, Inc. (a) 904   452,072
Inari Medical, Inc. (a) 2,191   135,272
Inogen, Inc. (a) 1,115   13,915
Inspire Medical Systems, Inc. (a) 1,293   302,653
Insulet Corp. (a) 768   244,961
Integer Holdings Corp. (a) 1,499   116,173
Integra LifeSciences Holdings Corp. (a) 600   34,446
Intuitive Surgical, Inc. (a) 3,756   959,545
iRadimed Corp. 348   13,694
iRhythm Technologies, Inc. (a) 1,368   169,673
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 45

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
LeMaitre Vascular, Inc. 871   $44,830
LivaNova PLC (a) 2,443   106,466
Masimo Corp. (a) 576   106,295
Medtronic PLC 14,332   1,155,446
Mesa Laboratories, Inc. 229   40,013
Nevro Corp. (a) 1,556   56,249
Novocure Ltd. (a) 1,100   66,154
NuVasive, Inc. (a) 2,309   95,385
Omnicell, Inc. (a) 2,019   118,455
Orthofix Medical, Inc. (a) 1,553   26,013
Outset Medical, Inc. (a) 2,161   39,762
Paragon 28, Inc. (a) 2,072   35,369
Penumbra, Inc. (a) 400   111,476
PROCEPT BioRobotics Corp. (a) 1,162   33,001
Pulmonx Corp. (a) 1,582   17,687
QuidelOrtho Corp. (a) 600   53,454
ResMed, Inc. 1,459   319,506
Senseonics Holdings, Inc. (a) 21,706   15,411
Shockwave Medical, Inc. (a) 1,610   349,096
SI-BONE, Inc. (a) 1,533   30,154
Sight Sciences, Inc. (a) 1,094   9,562
STERIS PLC 1,160   221,885
Stryker Corp. 3,803   1,085,642
Surmodics, Inc. (a) 672   15,308
Tactile Systems Technology, Inc. (a) 946   15,533
Tandem Diabetes Care, Inc. (a) 700   28,427
Teleflex, Inc. 510   129,188
TransMedics Group, Inc. (a) 1,389   105,189
Treace Medical Concepts, Inc. (a) 1,700   42,823
Varex Imaging Corp. (a) 1,745   31,742
Vicarious Surgical, Inc. (a) 1,656   3,759
ViewRay, Inc. (a) 6,722   23,258
Zimmer Biomet Holdings, Inc. 2,270   293,284
Zimvie, Inc. (a) 663   4,794
Zynex, Inc. (a) 1,065   12,780
      13,257,021
Healthcare Facilities - 0.1%
Acadia Healthcare Co., Inc. (a) 900   65,025
Brookdale Senior Living, Inc. (a) 8,435   24,883
Cano Health, Inc. (a) 8,217   7,477
Community Health Systems, Inc. (a) 5,638   27,626
Encompass Health Corp. 1,100   59,510
Ensign Group, Inc. 2,440   233,118
HCA Healthcare, Inc. 2,263   596,708
Joint Corp. (a) 694   11,680
National HealthCare Corp. 568   32,984
Oncology Institute, Inc. (a) 506   343
Pennant Group, Inc. (a) 1,246   17,793
Select Medical Holdings Corp. 4,734   122,374
Surgery Partners, Inc. (a) 2,350   81,004
Tenet Healthcare Corp. (a) 1,000   59,420
U.S. Physical Therapy, Inc. 572   56,005
Universal Health Services, Inc., Class B 720   91,512
      1,487,462
Healthcare Services - 0.3%
23andMe Holding Co., Class A (a) 11,718   26,717
Accolade, Inc. (a) 2,950   42,421
  Number
of Shares
  Fair
Value
Addus HomeCare Corp. (a) 684   $73,024
Agiliti, Inc. (a) 1,282   20,486
agilon health, Inc. (a) 2,000   47,500
AirSculpt Technologies, Inc. 383   1,930
Amedisys, Inc. (a) 300   22,065
AMN Healthcare Services, Inc. (a) 1,963   162,850
Apollo Medical Holdings, Inc. (a) 1,727   62,984
ATI Physical Therapy, Inc. (a) 4,356   1,107
Aveanna Healthcare Holdings, Inc. (a) 2,000   2,080
CareMax, Inc. (a) 2,959   7,900
Castle Biosciences, Inc. (a) 1,119   25,424
Chemed Corp. 159   85,502
Cigna Group 3,230   825,362
CorVel Corp. (a) 399   75,922
Cross Country Healthcare, Inc. (a) 1,600   35,712
CVS Health Corp. 14,118   1,049,109
DaVita, Inc. (a) 587   47,612
DocGo, Inc. (a) 3,717   32,152
Enhabit, Inc. (a) 550   7,650
Fulgent Genetics, Inc. (a) 946   29,534
GeneDx Holdings Corp. (a) 15,949   5,821
Guardant Health, Inc. (a) 1,100   25,784
Hims & Hers Health, Inc. (a) 5,401   53,578
Innovage Holding Corp. (a) 1,017   8,116
Invitae Corp. (a) 11,293   15,246
Laboratory Corp. of America Holdings 887   203,496
LifeStance Health Group, Inc. (a) 3,340   24,816
ModivCare, Inc. (a) 563   47,337
National Research Corp. 637   27,716
NeoGenomics, Inc. (a) 5,729   99,742
Nutex Health, Inc. (a) 12,432   12,556
Oak Street Health, Inc. (a) 1,400   54,152
OPKO Health, Inc. (a) 18,545   27,076
Option Care Health, Inc. (a) 7,567   240,404
P3 Health Partners, Inc. (a) 702   744
Pediatrix Medical Group, Inc. (a) 3,639   54,257
Premier, Inc., Class A 1,400   45,318
Privia Health Group, Inc. (a) 2,364   65,270
Quest Diagnostics, Inc. 1,229   173,879
R1 RCM, Inc. (a) 6,632   99,480
RadNet, Inc. (a) 2,221   55,592
      4,025,423
Healthcare Supplies - 0.1%
Align Technology, Inc. (a) 859   287,026
Atrion Corp. 61   38,303
Avanos Medical, Inc. (a) 2,057   61,175
Bioventus, Inc., Class A (a) 971   1,039
Cerus Corp. (a) 7,905   23,478
Cooper Cos., Inc. 530   197,881
DENTSPLY SIRONA, Inc. 2,467   96,904
Embecta Corp. 2,631   73,984
Figs, Inc., Class A (a) 5,740   35,531
Haemonetics Corp. (a) 2,273   188,091
ICU Medical, Inc. (a) 200   32,992
Lantheus Holdings, Inc. (a) 3,093   255,358
Merit Medical Systems, Inc. (a) 2,534   187,389
Neogen Corp. (a) 9,835   182,144
OraSure Technologies, Inc. (a) 3,408   20,618
OrthoPediatrics Corp. (a) 687   30,427
 
See Notes to Schedule of Investments.
46 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
RxSight, Inc. (a) 1,033   $17,230
Silk Road Medical, Inc. (a) 1,660   64,956
STAAR Surgical Co. (a) 2,178   139,283
UFP Technologies, Inc. (a) 307   39,861
Utah Medical Products, Inc. 166   15,732
      1,989,402
Healthcare Technology - 0.1%
American Well Corp., Class A (a) 10,409   24,565
Certara, Inc. (a) 1,400   33,754
Computer Programs & Systems, Inc. (a) 647   19,539
Doximity, Inc., Class A (a) 900   29,142
Evolent Health, Inc., Class A (a) 3,728   120,974
Health Catalyst, Inc. (a) 2,473   28,860
HealthStream, Inc. (a) 1,096   29,702
Multiplan Corp. (a) 17,426   18,471
NextGen Healthcare, Inc. (a) 2,390   41,610
OptimizeRx Corp. (a) 825   12,070
Phreesia, Inc. (a) 2,196   70,909
Schrodinger, Inc. (a) 2,396   63,087
Sharecare, Inc. (a) 13,421   19,058
Simulations Plus, Inc. 709   31,153
Teladoc Health, Inc. (a) 1,551   40,171
Veeva Systems, Inc., Class A (a) 1,579   290,204
Veradigm, Inc. (a) 4,775   62,314
      935,583
Heavy Electrical Equipment - 0.0% *
Babcock & Wilcox Enterprises, Inc. (a) 2,918   17,683
Bloom Energy Corp., Class A (a) 8,166   162,748
Energy Vault Holdings, Inc. (a) 4,171   8,926
NuScale Power Corp. (a) 1,472   13,381
TPI Composites, Inc. (a) 1,674   21,846
      224,584
Home Building - 0.2%
Beazer Homes USA, Inc. (a) 1,346   21,374
Cavco Industries, Inc. (a) 396   125,825
Century Communities, Inc. 1,249   79,836
DR Horton, Inc. 3,440   336,054
Dream Finders Homes, Inc., Class A (a) 1,026   13,595
Green Brick Partners, Inc. (a) 1,217   42,668
Hovnanian Enterprises, Inc., Class A (a) 234   15,875
Installed Building Products, Inc. 1,082   123,380
KB Home 3,447   138,500
Landsea Homes Corp. (a) 230   1,394
Legacy Housing Corp. (a) 442   10,060
Lennar Corp., Class A 2,605   273,812
Lennar Corp., B Shares 300   26,793
LGI Homes, Inc. (a) 905   103,197
M/I Homes, Inc. (a) 1,180   74,446
MDC Holdings, Inc. 2,657   103,278
Meritage Homes Corp. 1,646   192,187
NVR, Inc. (a) 32   178,310
PulteGroup, Inc. 2,418   140,921
Skyline Champion Corp. (a) 2,420   182,057
Taylor Morrison Home Corp. (a) 4,745   181,544
  Number
of Shares
  Fair
Value
Toll Brothers, Inc. 1,015   $60,930
TopBuild Corp. (a) 300   62,442
Tri Pointe Homes, Inc. (a) 4,589   116,193
      2,604,671
Home Furnishing Retail - 0.0% *
Aaron's Co., Inc. 1,408   13,601
Bed Bath & Beyond, Inc. (a) 2,655   1,135
Haverty Furniture Cos., Inc. 666   21,252
Overstock.com, Inc. (a) 1,915   38,817
RH (a) 170   41,404
Sleep Number Corp. (a) 961   29,224
Wayfair, Inc., Class A (a) 800   27,472
Williams-Sonoma, Inc. 755   91,853
      264,758
Home Furnishings - 0.0% *
Ethan Allen Interiors, Inc. 1,023   28,092
La-Z-Boy, Inc. 1,910   55,543
Leggett & Platt, Inc. 1,300   41,444
Lovesac Co. (a) 646   18,669
Mohawk Industries, Inc. (a) 600   60,132
Purple Innovation, Inc. (a) 3,199   8,445
Tempur Sealy International, Inc. 1,800   71,082
      283,407
Home Improvement Retail - 0.3%
Floor & Decor Holdings, Inc., Class A (a) 1,100   108,042
GrowGeneration Corp. (a) 2,890   9,884
Home Depot, Inc. 11,004   3,247,500
LL Flooring Holdings, Inc. (a) 942   3,580
Lowe's Cos., Inc. 6,523   1,304,404
Tile Shop Holdings, Inc. (a) 1,007   4,723
      4,678,133
Hotel & Resort REITs - 0.1%
Apple Hospitality REIT, Inc. 9,771   151,646
Ashford Hospitality Trust, Inc. (a) 1,085   3,483
Braemar Hotels & Resorts, Inc. 3,160   12,198
Chatham Lodging Trust 2,180   22,868
DiamondRock Hospitality Co. 9,272   75,381
Hersha Hospitality Trust 1,586   10,658
Host Hotels & Resorts, Inc. 7,054   116,320
Park Hotels & Resorts, Inc. 2,200   27,192
Pebblebrook Hotel Trust 5,737   80,547
RLJ Lodging Trust 7,090   75,154
Ryman Hospitality Properties, Inc. 2,438   218,762
Service Properties Trust 7,260   72,310
Summit Hotel Properties, Inc. 4,707   32,949
Sunstone Hotel Investors, Inc. 9,356   92,437
Xenia Hotels & Resorts, Inc. 5,064   66,288
      1,058,193
Hotels, Resorts & Cruise Lines - 0.3%
Airbnb, Inc., Class A (a) 4,000   497,600
Bluegreen Vacations Holding Corp. 470   12,869
Booking Holdings, Inc. (a) 427   1,132,579
Carnival Corp. (a) 9,700   98,455
Choice Hotels International, Inc. 300   35,157
Expedia Group, Inc. (a) 1,678   162,816
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 47

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Hilton Grand Vacations, Inc. (a) 3,896   $173,099
Hilton Worldwide Holdings, Inc. 2,936   413,594
Hyatt Hotels Corp., Class A (a) 500   55,895
Lindblad Expeditions Holdings, Inc. (a) 1,633   15,612
Marriott International, Inc., Class A 2,903   482,014
Marriott Vacations Worldwide Corp. 355   47,875
Norwegian Cruise Line Holdings Ltd. (a) 4,200   56,490
Royal Caribbean Cruises Ltd. (a) 2,200   143,660
Sabre Corp. (a) 14,445   61,969
Sonder Holdings, Inc. (a) 6,392   4,840
Target Hospitality Corp. (a) 1,340   17,608
Travel & Leisure Co. 900   35,280
Vacasa, Inc., Class A (a) 3,774   3,631
Wyndham Hotels & Resorts, Inc. 900   61,065
      3,512,108
Household Appliances - 0.0% *
Aterian, Inc. (a) 1,776   1,528
Helen of Troy Ltd. (a) 1,083   103,069
iRobot Corp. (a) 1,195   52,150
Traeger, Inc. (a) 1,754   7,209
Whirlpool Corp. 558   73,667
      237,623
Household Products - 0.4%
Central Garden & Pet Co., Class A (a) 1,778   69,466
Central Garden & Pet Co. (a) 457   18,764
Church & Dwight Co., Inc. 2,428   214,660
Clorox Co. 1,247   197,325
Colgate-Palmolive Co. 8,895   668,459
Energizer Holdings, Inc. 3,245   112,602
Kimberly-Clark Corp. 3,598   482,924
Procter & Gamble Co. 25,312   3,763,641
Reynolds Consumer Products, Inc. 400   11,000
Spectrum Brands Holdings, Inc. 400   26,488
WD-40 Co. 622   110,747
      5,676,076
Housewares & Specialties - 0.0% *
Lifetime Brands, Inc. 342   2,011
Newell Brands, Inc. 3,700   46,028
Tupperware Brands Corp. (a) 1,468   3,670
      51,709
Human Resource & Employment Services - 0.2%
Alight, Inc., Class A (a) 17,470   160,899
ASGN, Inc. (a) 2,225   183,941
Automatic Data Processing, Inc. 4,429   986,028
Barrett Business Services, Inc. 310   27,478
First Advantage Corp. (a) 2,639   36,840
Heidrick & Struggles International, Inc. 884   26,838
HireRight Holdings Corp. (a) 1,050   11,140
Insperity, Inc. 1,625   197,519
Kelly Services, Inc., Class A 1,534   25,449
Kforce, Inc. 880   55,651
Korn Ferry 2,382   123,245
  Number
of Shares
  Fair
Value
ManpowerGroup, Inc. 479   $39,532
Paychex, Inc. 3,528   404,274
Robert Half International, Inc. 1,275   102,727
Skillsoft Corp. (a) 2,868   5,736
Sterling Check Corp. (a) 1,159   12,923
TriNet Group, Inc. (a) 1,701   137,118
TrueBlue, Inc. (a) 1,461   26,006
Upwork, Inc. (a) 5,391   61,026
      2,624,370
Independent Power Producers & Energy Traders - 0.0% *
AES Corp. 7,200   173,376
Vistra Corp. 4,200   100,800
      274,176
Industrial Conglomerates - 0.2%
3M Co. 5,992   629,819
General Electric Co. 11,748   1,123,109
Honeywell International, Inc. 7,154   1,367,272
      3,120,200
Industrial Gases - 0.2%
Air Products & Chemicals, Inc. 2,281   655,126
Linde PLC 5,233   1,860,018
      2,515,144
Industrial Machinery & Supplies & Components - 0.5%
3D Systems Corp. (a) 5,627   60,321
Albany International Corp., Class A 1,417   126,623
Barnes Group, Inc. 2,162   87,085
Berkshire Grey, Inc. (a) 1,296   1,789
Chart Industries, Inc. (a) 1,933   242,398
CIRCOR International, Inc. (a) 843   26,234
Columbus McKinnon Corp. 1,250   46,450
Crane Holdings Co. 600   68,100
Desktop Metal, Inc., Class A (a) 12,120   27,876
Donaldson Co., Inc. 1,400   91,476
Dover Corp. 1,574   239,154
Energy Recovery, Inc. (a) 2,445   56,357
Enerpac Tool Group Corp. 2,533   64,592
EnPro Industries, Inc. 919   95,475
Esab Corp. 433   25,577
ESCO Technologies, Inc. 1,173   111,963
Evoqua Water Technologies Corp. (a) 5,325   264,759
Flowserve Corp. 1,300   44,200
Fortive Corp. 3,750   255,638
Franklin Electric Co., Inc. 2,089   196,575
Gates Industrial Corp. PLC (a) 1,700   23,613
Gorman-Rupp Co. 1,032   25,800
Graco, Inc. 1,739   126,964
Helios Technologies, Inc. 1,435   93,849
Hillenbrand, Inc. 3,146   149,529
Hillman Solutions Corp. (a) 5,991   50,444
Hyster-Yale Materials Handling, Inc. 495   24,696
IDEX Corp. 757   174,890
Illinois Tool Works, Inc. 3,202   779,527
Ingersoll Rand, Inc. 4,421   257,214
ITT, Inc. 900   77,670
John Bean Technologies Corp. 1,436   156,940
Kadant, Inc. 528   110,099
Kennametal, Inc. 3,586   98,902
Lincoln Electric Holdings, Inc. 600   101,460
 
See Notes to Schedule of Investments.
48 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Markforged Holding Corp. (a) 3,424   $3,283
Middleby Corp. (a) 510   74,771
Mueller Industries, Inc. 2,536   186,345
Mueller Water Products, Inc., Class A 6,881   95,921
Nordson Corp. 635   141,135
Omega Flex, Inc. 152   16,939
Otis Worldwide Corp. 4,504   380,138
Parker-Hannifin Corp. 1,405   472,235
Pentair PLC 1,800   99,486
Proto Labs, Inc. (a) 1,215   40,277
RBC Bearings, Inc. (a) 1,291   300,454
Sarcos Technology & Robotics Corp. (a) 2,314   1,098
Snap-on, Inc. 525   129,617
SPX Technologies, Inc. (a) 1,989   140,384
Standex International Corp. 514   62,934
Stanley Black & Decker, Inc. 1,487   119,822
Tennant Co. 823   56,400
Timken Co. 600   49,032
Velo3D, Inc. (a) 1,676   3,805
Watts Water Technologies, Inc., Class A 1,240   208,717
Xylem, Inc. 1,943   203,432
      7,170,464
Industrial REITs - 0.2%
Americold Realty Trust, Inc. 2,800   79,660
EastGroup Properties, Inc. 500   82,660
First Industrial Realty Trust, Inc. 1,500   79,800
Indus Realty Trust, Inc. 249   16,506
Industrial Logistics Properties Trust 3,281   10,073
Innovative Industrial Properties, Inc. 1,224   93,012
LXP Industrial Trust 12,374   127,576
Plymouth Industrial REIT, Inc. 1,692   35,549
Prologis, Inc. 9,853   1,229,359
Rexford Industrial Realty, Inc. 2,148   128,128
STAG Industrial, Inc. 8,166   276,174
Terreno Realty Corp. 3,654   236,048
      2,394,545
Insurance Brokers - 0.2%
Aon PLC, Class A 2,143   675,667
Arthur J Gallagher & Co. 2,307   441,352
Brown & Brown, Inc. 2,600   149,292
BRP Group, Inc., Class A (a) 2,692   68,538
Crawford & Co., Class A 448   3,745
eHealth, Inc. (a) 1,238   11,588
Goosehead Insurance, Inc., Class A (a) 851   44,422
Hippo Holdings, Inc. (a) 747   12,124
Marsh & McLennan Cos., Inc. 5,232   871,390
Ryan Specialty Holdings, Inc. (a) 800   32,192
Selectquote, Inc. (a) 6,659   14,450
Willis Towers Watson PLC 1,124   261,195
      2,585,955
Integrated Oil & Gas - 0.6%
Chevron Corp. 20,784   3,391,117
Exxon Mobil Corp. 44,118   4,837,980
Occidental Petroleum Corp. 8,539   533,090
      8,762,187
  Number
of Shares
  Fair
Value
Integrated Telecommunication Services - 0.3%
AT&T, Inc. 76,640   $1,475,320
ATN International, Inc. 503   20,583
Consolidated Communications Holdings, Inc. (a) 3,782   9,758
Frontier Communications Parent, Inc. (a) 2,300   52,371
IDT Corp., Class B (a) 675   23,004
Ooma, Inc. (a) 1,136   14,211
Radius Global Infrastructure, Inc., Class A (a) 3,420   50,171
Verizon Communications, Inc. 45,184   1,757,206
      3,402,624
Interactive Home Entertainment - 0.1%
Activision Blizzard, Inc. 8,242   705,433
Electronic Arts, Inc. 2,961   356,652
Playstudios, Inc. (a) 3,849   14,203
Playtika Holding Corp. (a) 1,559   17,554
ROBLOX Corp., Class A (a) 5,000   224,900
Skillz, Inc. (a) 10,074   5,976
Take-Two Interactive Software, Inc. (a) 1,683   200,782
      1,525,500
Interactive Media & Services - 1.4%
Alphabet, Inc., Class C (a)(c) 56,020   5,826,080
Alphabet, Inc., Class A (a)(c) 64,320   6,671,914
Arena Group Holdings, Inc. (a) 303   1,288
Bumble, Inc., Class A (a) 4,419   86,391
Cargurus, Inc. (a) 4,514   84,321
Cars.com, Inc. (a) 2,947   56,877
DHI Group, Inc. (a) 2,195   8,517
Eventbrite, Inc., Class A (a) 3,527   30,262
EverQuote, Inc., Class A (a) 977   13,580
fuboTV, Inc. (a) 9,338   11,299
IAC, Inc. (a) 900   46,440
Match Group, Inc. (a) 2,763   106,072
MediaAlpha, Inc., Class A (a) 1,182   17,706
Meta Platforms, Inc., Class A (a) 23,884   5,061,975
Outbrain, Inc. (a) 1,221   5,043
Pinterest, Inc., Class A (a) 5,897   160,811
QuinStreet, Inc. (a) 2,277   36,136
Shutterstock, Inc. 1,060   76,956
TripAdvisor, Inc. (a) 900   17,874
TrueCar, Inc. (a) 4,387   10,090
Vimeo, Inc. (a) 6,526   24,995
Vinco Ventures, Inc. (a) 5,612   1,803
Yelp, Inc. (a) 2,987   91,701
Ziff Davis, Inc. (a) 2,073   161,798
ZipRecruiter, Inc., Class A (a) 3,242   51,677
ZoomInfo Technologies, Inc. (a) 3,000   74,130
      18,735,736
Internet Services & Infrastructure - 0.1%
Akamai Technologies, Inc. (a) 1,514   118,546
BigCommerce Holdings, Inc. Series 1 (a) 2,948   26,355
Brightcove, Inc. (a) 2,099   9,341
Cloudflare, Inc., Class A (a) 3,185   196,387
Cyxtera Technologies, Inc. (a) 1,425   435
DigitalOcean Holdings, Inc. (a) 3,173   124,286
Edgio, Inc. (a) 4,448   3,519
Fastly, Inc., Class A (a) 5,021   89,173
GoDaddy, Inc., Class A (a) 1,800   139,896
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 49

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
MongoDB, Inc. (a) 673   $156,890
Okta, Inc. (a) 1,661   143,245
Rackspace Technology, Inc. (a) 1,832   3,444
Snowflake, Inc., Class A (a) 3,310   510,700
Squarespace, Inc., Class A (a) 1,367   43,430
Tucows, Inc., Class A (a) 490   9,530
Twilio, Inc., Class A (a) 1,847   123,066
VeriSign, Inc. (a) 1,007   212,809
      1,911,052
Investment Banking & Brokerage - 0.3%
B Riley Financial, Inc. 932   26,459
BGC Partners, Inc., Class A 13,962   73,021
Charles Schwab Corp. 16,281   852,799
Evercore, Inc., Class A 366   42,229
Goldman Sachs Group, Inc. 3,508   1,147,502
Houlihan Lokey, Inc. 2,302   201,402
Interactive Brokers Group, Inc., Class A 900   74,304
Jefferies Financial Group, Inc. 1,909   60,592
Lazard Ltd., Class A 1,000   33,110
LPL Financial Holdings, Inc. 803   162,527
Moelis & Co., Class A 2,899   111,438
Morgan Stanley 13,197   1,158,697
Oppenheimer Holdings, Inc., Class A 381   14,916
Perella Weinberg Partners 1,770   16,107
Piper Sandler Cos., 791   109,640
PJT Partners, Inc., Class A 1,044   75,366
Raymond James Financial, Inc. 1,992   185,794
Robinhood Markets, Inc., Class A (a) 6,100   59,231
Stifel Financial Corp. 1,000   59,090
StoneX Group, Inc. (a) 804   83,238
Virtu Financial, Inc., Class A 1,000   18,900
      4,566,362
IT Consulting & Other Services - 0.3%
Accenture PLC, Class A 6,857   1,959,799
Amdocs Ltd. 1,267   121,670
Cerberus Cyber Sentinel Corp. (a) 1,297   438
Cognizant Technology Solutions Corp., Class A 5,702   347,423
DXC Technology Co. (a) 2,400   61,344
EPAM Systems, Inc. (a) 565   168,935
Gartner, Inc. (a) 838   272,995
Globant SA (a) 400   65,604
Grid Dynamics Holdings, Inc. (a) 2,430   27,848
Hackett Group, Inc. 995   18,388
Information Services Group, Inc. 1,794   9,132
International Business Machines Corp. 9,553   1,252,303
Kyndryl Holdings, Inc. (a) 1,559   23,011
Perficient, Inc. (a) 1,555   112,255
PFSweb, Inc. 481   2,039
Thoughtworks Holding, Inc. (a) 500   3,680
Unisys Corp. (a) 3,276   12,711
      4,459,575
Leisure Facilities - 0.0% *
Bowlero Corp. (a) 1,350   22,883
F45 Training Holdings, Inc. (a) 1,459   1,692
  Number
of Shares
  Fair
Value
Life Time Group Holdings, Inc. (a) 1,895   $30,244
Planet Fitness, Inc., Class A (a) 900   69,903
RCI Hospitality Holdings, Inc. 388   30,330
SeaWorld Entertainment, Inc. (a) 1,809   110,910
Six Flags Entertainment Corp. (a) 600   16,026
Vail Resorts, Inc. 500   116,840
Xponential Fitness, Inc., Class A (a) 957   29,083
      427,911
Leisure Products - 0.1%
Acushnet Holdings Corp. 1,473   75,035
AMMO, Inc. (a) 3,087   6,081
BRP, Inc. 700   54,703
Brunswick Corp. 800   65,600
Clarus Corp. 1,418   13,400
Hasbro, Inc. 1,400   75,166
Johnson Outdoors, Inc., Class A 249   15,690
Latham Group, Inc. (a) 1,359   3,887
Malibu Boats, Inc., Class A (a) 905   51,087
Marine Products Corp. 208   2,744
MasterCraft Boat Holdings, Inc. (a) 798   24,283
Mattel, Inc. (a) 3,259   59,998
Peloton Interactive, Inc., Class A (a) 3,572   40,506
Polaris, Inc. 500   55,315
Smith & Wesson Brands, Inc. 2,081   25,617
Solo Brands, Inc., Class A (a) 1,145   8,221
Sturm Ruger & Co., Inc. 771   44,286
Topgolf Callaway Brands Corp. (a) 6,356   137,417
Vista Outdoor, Inc. (a) 2,475   68,582
YETI Holdings, Inc. (a) 900   36,000
      863,618
Life & Health Insurance - 0.2%
Aflac, Inc. 6,755   435,833
American Equity Investment Life Holding Co. 3,220   117,498
Bright Health Group, Inc. (a) 6,321   1,393
Brighthouse Financial, Inc. (a) 670   29,554
CNO Financial Group, Inc. 5,165   114,611
F&G Annuities & Life, Inc. 190   3,443
Genworth Financial, Inc., Class A (a) 22,515   113,025
Globe Life, Inc. 1,000   110,020
Lincoln National Corp. 1,886   42,378
MetLife, Inc. 7,142   413,808
National Western Life Group, Inc., Class A 103   24,990
Oscar Health, Inc., Class A (a) 5,486   35,878
Primerica, Inc. 400   68,896
Principal Financial Group, Inc. 2,600   193,232
Prudential Financial, Inc. 4,102   339,399
Trupanion, Inc. (a) 1,720   73,771
Unum Group 2,200   87,032
      2,204,761
Life Sciences Tools & Services - 0.6%
10X Genomics, Inc., Class A (a) 900   50,211
 
See Notes to Schedule of Investments.
50 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Adaptive Biotechnologies Corp. (a) 4,982   $43,991
Agilent Technologies, Inc. 3,206   443,518
Akoya Biosciences, Inc. (a) 453   3,706
Alpha Teknova, Inc. (a) 378   1,119
Avantor, Inc. (a) 6,100   128,954
Azenta, Inc. (a) 700   31,234
BioLife Solutions, Inc. (a) 1,517   32,995
Bionano Genomics, Inc. (a) 13,012   14,443
Bio-Rad Laboratories, Inc., Class A (a) 261   125,024
Bio-Techne Corp. 1,540   114,253
Bruker Corp. 1,161   91,533
Charles River Laboratories International, Inc. (a) 528   106,561
Codexis, Inc. (a) 3,022   12,511
CryoPort, Inc. (a) 1,974   47,376
Cytek Biosciences, Inc. (a) 5,089   46,768
Danaher Corp. 6,911   1,741,848
Illumina, Inc. (a) 1,772   412,079
Inotiv, Inc. (a) 1,254   5,430
IQVIA Holdings, Inc. (a) 1,919   381,670
Maravai LifeSciences Holdings, Inc., Class A (a) 1,300   18,213
MaxCyte, Inc. (a) 4,025   19,924
Medpace Holdings, Inc. (a) 1,150   216,257
Mettler-Toledo International, Inc. (a) 240   367,250
NanoString Technologies, Inc. (a) 2,135   21,137
Nautilus Biotechnology, Inc. (a) 1,320   3,656
OmniAb, Inc. (a) 3,774   13,888
OmniAb, Inc. (d) 394  
Pacific Biosciences of California, Inc. (a) 11,278   130,599
PerkinElmer, Inc. 1,260   167,908
PhenomeX, Inc. (a) 1,728   2,004
QIAGEN NV (a) 6,622   302,935
Quanterix Corp. (a) 1,564   17,626
Quantum-Si, Inc. (a) 2,881   5,071
Repligen Corp. (a) 606   102,026
Science 37 Holdings, Inc. (a) 1,726   486
Seer, Inc. (a) 2,601   10,040
Singular Genomics Systems, Inc. (a) 1,705   2,063
SomaLogic, Inc. (a) 6,952   17,728
Sotera Health Co. (a) 1,300   23,283
Syneos Health, Inc. (a) 1,200   42,744
Thermo Fisher Scientific, Inc. 4,201   2,421,330
Waters Corp. (a) 652   201,879
West Pharmaceutical Services, Inc. 812   281,334
      8,224,605
Managed Healthcare - 0.5%
Alignment Healthcare, Inc. (a) 4,444   28,264
Centene Corp. (a) 6,026   380,903
Clover Health Investments Corp. (a) 17,928   15,151
Elevance Health, Inc. 2,549   1,172,056
HealthEquity, Inc. (a) 3,760   220,750
Humana, Inc. 1,287   624,787
Molina Healthcare, Inc. (a) 639   170,926
Progyny, Inc. (a) 3,437   110,396
UnitedHealth Group, Inc. (c) 9,985   4,718,811
      7,442,044
  Number
of Shares
  Fair
Value
Marine Transportation - 0.0% *
Eagle Bulk Shipping, Inc. 605   $27,527
Eneti, Inc. 1,101   10,294
Genco Shipping & Trading Ltd. 1,657   25,949
Kirby Corp. (a) 600   41,820
Matson, Inc. 1,701   101,499
      207,089
Metal, Glass & Plastic Containers - 0.1%
AptarGroup, Inc. 664   78,478
Ball Corp. 3,292   181,422
Berry Global Group, Inc. 1,218   71,740
Crown Holdings, Inc. 1,147   94,869
Greif, Inc., Class A 1,101   69,770
Greif, Inc., Class B 250   19,130
Myers Industries, Inc. 1,633   34,995
O-I Glass, Inc. (a) 6,983   158,584
Silgan Holdings, Inc. 923   49,538
TriMas Corp. 1,863   51,903
      810,429
Mortgage REITs - 0.1%
AFC Gamma, Inc. 818   9,947
AGNC Investment Corp. 6,689   67,425
Angel Oak Mortgage REIT, Inc. 346   2,526
Annaly Capital Management, Inc. 4,475   85,517
Apollo Commercial Real Estate Finance, Inc. 6,234   58,039
Arbor Realty Trust, Inc. 7,277   83,613
Ares Commercial Real Estate Corp. 2,339   21,261
ARMOUR Residential REIT, Inc. 7,520   39,480
Blackstone Mortgage Trust, Inc., Class A 7,823   139,641
BrightSpire Capital, Inc. 4,246   25,051
Broadmark Realty Capital, Inc. 5,889   27,678
Chicago Atlantic Real Estate Finance, Inc. 177   2,391
Chimera Investment Corp. 10,321   58,210
Claros Mortgage Trust, Inc. 4,095   47,707
Dynex Capital, Inc. 2,465   29,876
Ellington Financial, Inc. 2,948   35,995
Franklin BSP Realty Trust, Inc. 3,702   44,165
Granite Point Mortgage Trust, Inc. 2,546   12,628
Hannon Armstrong Sustainable Infrastructure Capital, Inc. 3,966   113,428
Invesco Mortgage Capital, Inc. 1,639   18,176
KKR Real Estate Finance Trust, Inc. 2,570   29,272
Ladder Capital Corp. 5,054   47,760
MFA Financial, Inc. 4,579   45,424
New York Mortgage Trust, Inc. 4,146   41,294
Nexpoint Real Estate Finance, Inc. 224   3,510
Orchid Island Capital, Inc. 1,626   17,447
PennyMac Mortgage Investment Trust 3,963   48,864
Ready Capital Corp. 3,218   32,727
Redwood Trust, Inc. 5,082   34,253
Rithm Capital Corp. 4,700   37,600
Starwood Property Trust, Inc. 3,200   56,608
TPG RE Finance Trust, Inc. 3,129   22,717
Two Harbors Investment Corp. 4,443   65,357
      1,405,587
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 51

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Motorcycle Manufacturers - 0.0% *
Harley-Davidson, Inc. 1,500   $56,955
Movies & Entertainment - 0.4%
AMC Entertainment Holdings, Inc., Class A (a) 4,500   22,545
Cinemark Holdings, Inc. (a) 4,834   71,495
IMAX Corp. (a) 2,111   40,489
Liberty Media Corp.-Liberty Braves, Class A (a) 481   16,633
Liberty Media Corp.-Liberty Braves, Class C (a) 1,676   56,464
Liberty Media Corp.-Liberty Formula One, Class C (a) 2,021   151,231
Liberty Media Corp.-Liberty Formula One, Class A (a) 500   33,750
Lions Gate Entertainment Corp., Class A (a) 2,644   29,269
Lions Gate Entertainment Corp., Class B (a) 5,145   53,405
Live Nation Entertainment, Inc. (a) 1,628   113,960
Madison Square Garden Entertainment Corp. (a) 1,155   68,226
Madison Square Garden Sports Corp. 200   38,970
Marcus Corp. 1,140   18,240
Netflix, Inc. (a) 4,625   1,597,845
Reservoir Media, Inc. (a) 578   3,769
Roku, Inc. (a) 1,284   84,513
Spotify Technology SA (a) 1,395   186,400
Vivid Seats, Inc., Class A (a) 1,298   9,904
Walt Disney Co. (a) 19,456   1,948,129
Warner Bros Discovery, Inc. (a) 24,846   375,175
World Wrestling Entertainment, Inc., Class A 500   45,630
      4,966,042
Multi-Family Residential REITs - 0.1%
Apartment Income REIT Corp. 1,351   48,379
Apartment Investment & Management Co., Class A 6,670   51,292
AvalonBay Communities, Inc. 1,405   236,124
BRT Apartments Corp. 596   11,753
Camden Property Trust 1,138   119,308
Centerspace 674   36,821
Clipper Realty, Inc. 311   1,785
Elme Communities 3,872   69,154
Equity Residential 3,712   222,720
Essex Property Trust, Inc. 704   147,235
Independence Realty Trust, Inc. 10,193   163,394
Mid-America Apartment Communities, Inc. 1,224   184,873
NexPoint Residential Trust, Inc. 1,010   44,107
UDR, Inc. 3,447   141,534
Veris Residential, Inc. (a) 3,824   55,983
      1,534,462
Multi-Line Insurance - 0.1%
American International Group, Inc. 7,875   396,585
Assurant, Inc. 536   64,357
Hartford Financial Services Group, Inc. 3,494   243,497
Horace Mann Educators Corp. 1,823   61,034
      765,473
  Number
of Shares
  Fair
Value
Multi-Sector Holdings - 0.4%
Berkshire Hathaway, Inc., Class B (a)(c) 19,331   $5,968,833
Cannae Holdings, Inc. (a) 3,078   62,114
Compass Diversified Holdings 2,755   52,565
Star Holdings 599   10,417
      6,093,929
Multi-Utilities - 0.3%
Ameren Corp. 2,851   246,298
Avista Corp. 3,351   142,250
Black Hills Corp. 2,948   186,019
CenterPoint Energy, Inc. 6,237   183,742
CMS Energy Corp. 3,100   190,278
Consolidated Edison, Inc. 3,839   367,277
Dominion Energy, Inc. 8,942   499,947
DTE Energy Co. 1,984   217,327
NiSource, Inc. 4,613   128,980
NorthWestern Corp. 2,634   152,403
Public Service Enterprise Group, Inc. 5,469   341,539
Sempra Energy 3,389   512,281
Unitil Corp. 713   40,670
WEC Energy Group, Inc. 3,474   329,300
      3,538,311
Office REITs - 0.1%
Alexandria Real Estate Equities, Inc. 1,892   237,616
Boston Properties, Inc. 1,600   86,592
Brandywine Realty Trust 7,594   35,920
City Office REIT, Inc. 1,911   13,186
Corporate Office Properties Trust 5,124   121,490
Cousins Properties, Inc. 1,600   34,208
Douglas Emmett, Inc. 2,300   28,359
Easterly Government Properties, Inc. 4,050   55,647
Equity Commonwealth 4,625   95,784
Franklin Street Properties Corp. 5,044   7,919
Highwoods Properties, Inc. 1,300   30,147
Hudson Pacific Properties, Inc. 1,500   9,975
JBG SMITH Properties 1,700   25,602
Kilroy Realty Corp. 1,322   42,833
Office Properties Income Trust 2,161   26,580
Orion Office REIT, Inc. 2,626   17,594
Paramount Group, Inc. 8,376   38,195
Piedmont Office Realty Trust, Inc., Class A 5,480   40,004
Postal Realty Trust, Inc., Class A 879   13,378
SL Green Realty Corp. 898   21,121
Vornado Realty Trust 2,100   32,277
      1,014,427
Office Services & Supplies - 0.0% *
ACCO Brands Corp. 4,207   22,381
CompX International, Inc. 19   343
HNI Corp. 1,836   51,114
Interface, Inc. 2,623   21,299
Kimball International, Inc., Class B 1,694   21,006
MillerKnoll, Inc. 3,362   68,753
MSA Safety, Inc. 400   53,400
NL Industries, Inc. 196   1,188
Pitney Bowes, Inc. 7,810   30,381
 
See Notes to Schedule of Investments.
52 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Steelcase, Inc., Class A 3,933   $33,116
      302,981
Oil & Gas Drilling - 0.1%
Diamond Offshore Drilling, Inc. (a) 4,500   54,180
Helmerich & Payne, Inc. 4,664   166,738
Nabors Industries Ltd. (a) 403   49,130
Noble Corp. PLC (a) 3,828   151,091
Patterson-UTI Energy, Inc. 9,762   114,215
Valaris Ltd. (a) 2,762   179,696
      715,050
Oil & Gas Equipment & Services - 0.2%
Archrock, Inc. 6,002   58,640
Baker Hughes Co. 10,333   298,210
Bristow Group, Inc. (a) 1,058   23,699
Cactus, Inc., Class A 2,846   117,341
ChampionX Corp. 9,068   246,015
DMC Global, Inc. (a) 861   18,916
Dril-Quip, Inc. (a) 1,494   42,863
Expro Group Holdings NV (a) 3,969   72,871
Halliburton Co. 9,482   300,010
Helix Energy Solutions Group, Inc. (a) 6,364   49,257
Liberty Energy, Inc. 6,150   78,782
National Energy Services Reunited Corp. (a) 1,926   10,131
Newpark Resources, Inc. (a) 4,145   15,958
NexTier Oilfield Solutions, Inc. (a) 7,766   61,740
NOV, Inc. 4,200   77,742
Oceaneering International, Inc. (a) 4,414   77,819
Oil States International, Inc. (a) 2,855   23,782
ProFrac Holding Corp., Class A (a) 1,072   13,582
ProPetro Holding Corp. (a) 3,922   28,199
RPC, Inc. 3,357   25,815
Schlumberger NV 15,150   743,865
Select Energy Services, Inc., Class A 3,259   22,683
Solaris Oilfield Infrastructure, Inc., Class A 1,548   13,220
Tenaris SA 9,290   131,868
TETRA Technologies, Inc. (a) 5,740   15,211
Tidewater, Inc. (a) 2,053   90,496
U.S. Silica Holdings, Inc. (a) 3,316   39,593
Weatherford International PLC (a) 3,205   190,217
      2,888,525
Oil & Gas Exploration & Production - 0.5%
Amplify Energy Corp. (a) 1,763   12,112
Antero Resources Corp. (a) 2,700   62,343
APA Corp. 3,200   115,392
Berry Corp. 3,436   26,973
California Resources Corp. 3,366   129,591
Callon Petroleum Co. (a) 2,174   72,699
Chesapeake Energy Corp. 1,200   91,248
Chord Energy Corp. 1,881   253,183
Civitas Resources, Inc. 3,340   228,256
CNX Resources Corp. (a) 7,646   122,489
Comstock Resources, Inc. 4,088   44,109
ConocoPhillips 13,372   1,326,636
Coterra Energy, Inc. 8,027   196,983
  Number
of Shares
  Fair
Value
Crescent Energy Co., Class A 1,799   $20,347
Denbury, Inc. (a) 2,272   199,095
Devon Energy Corp. 6,829   345,616
Diamondback Energy, Inc. 1,831   247,496
Earthstone Energy, Inc., Class A (a) 1,978   25,734
Empire Petroleum Corp. (a) 548   6,801
EOG Resources, Inc. 6,353   728,244
EQT Corp. 3,602   114,940
Gulfport Energy Corp. (a) 491   39,280
Hess Corp. 3,013   398,740
HighPeak Energy, Inc. 362   8,326
Magnolia Oil & Gas Corp., Class A 7,912   173,115
Marathon Oil Corp. 6,387   153,032
Matador Resources Co. 5,097   242,872
Murphy Oil Corp. 6,673   246,767
Northern Oil & Gas, Inc. 2,915   88,470
Ovintiv, Inc. 2,600   93,808
PDC Energy, Inc. 800   51,344
Permian Resources Corp. 10,705   112,402
Pioneer Natural Resources Co. 2,619   534,904
Range Resources Corp. 2,600   68,822
Ranger Oil Corp., Class A 862   35,204
Riley Exploration Permian, Inc. 515   19,601
Ring Energy, Inc. (a) 4,794   9,109
SandRidge Energy, Inc. (a) 1,458   21,010
SilverBow Resources, Inc. (a) 578   13,207
Sitio Royalties Corp., Class A 3,141   70,987
SM Energy Co. 5,499   154,852
Southwestern Energy Co. (a) 11,700   58,500
Talos Energy, Inc. (a) 3,239   48,067
Tellurian, Inc. (a) 23,019   28,313
Texas Pacific Land Corp. 65   110,566
VAALCO Energy, Inc. 4,849   21,966
Vital Energy, Inc. (a) 744   33,882
Vitesse Energy, Inc. 259   4,929
W&T Offshore, Inc. (a) 4,306   21,874
      7,234,236
Oil & Gas Refining & Marketing - 0.2%
Aemetis, Inc. (a) 910   2,111
Alto Ingredients, Inc. (a) 2,317   3,476
Clean Energy Fuels Corp. (a) 7,627   33,254
CVR Energy, Inc. 1,323   43,368
Delek U.S. Holdings, Inc. 3,073   70,525
Gevo, Inc. (a) 8,561   13,184
Green Plains, Inc. (a) 2,380   73,756
HF Sinclair Corp. 1,400   67,732
Marathon Petroleum Corp. 4,968   669,835
Par Pacific Holdings, Inc. (a) 2,170   63,364
PBF Energy, Inc., Class A 5,361   232,453
Phillips 66 5,141   521,195
REX American Resources Corp. (a) 724   20,699
Valero Energy Corp. 4,086   570,406
Vertex Energy, Inc. (a) 2,467   24,374
World Fuel Services Corp. 2,715   69,368
      2,479,100
Oil & Gas Storage & Transportation - 0.2%
Antero Midstream Corp. 4,100   43,009
Cheniere Energy, Inc. 2,679   422,210
DHT Holdings, Inc. 6,065   65,563
Dorian LPG Ltd. 1,387   27,657
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 53

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
DT Midstream, Inc. 950   $46,901
Equitrans Midstream Corp. 18,722   108,213
Excelerate Energy, Inc., Class A 858   18,996
International Seaways, Inc. 2,218   92,446
Kinder Morgan, Inc. 20,817   364,506
Kinetik Holdings, Inc. 757   23,694
New Fortress Energy, Inc. 300   8,829
NextDecade Corp. (a) 1,869   9,289
Nordic American Tankers Ltd. 9,190   36,392
ONEOK, Inc. 4,955   314,841
Targa Resources Corp. 2,447   178,509
Williams Cos., Inc. 13,137   392,271
      2,153,326
Other Specialized REITs - 0.1%
EPR Properties 700   26,670
Farmland Partners, Inc. 2,278   24,375
Four Corners Property Trust, Inc. 3,690   99,113
Gaming & Leisure Properties, Inc. 2,411   125,517
Gladstone Land Corp. 1,466   24,409
Iron Mountain, Inc. 2,900   153,439
iStar, Inc. 1,839   54,022
Lamar Advertising Co., Class A 900   89,901
Outfront Media, Inc. 6,668   108,222
Uniti Group, Inc. 10,588   37,587
VICI Properties, Inc. 10,759   350,958
      1,094,213
Other Specialty Retail - 0.1%
1-800-Flowers.com, Inc., Class A (a) 1,266   14,559
Academy Sports & Outdoors, Inc. 3,441   224,525
BARK, Inc. (a) 5,659   8,206
Bath & Body Works, Inc. 2,398   87,719
Big 5 Sporting Goods Corp. 683   5,252
Build-A-Bear Workshop, Inc. 644   14,967
Container Store Group, Inc. (a) 1,761   6,040
Dick's Sporting Goods, Inc. 587   83,289
Five Below, Inc. (a) 600   123,582
Franchise Group, Inc. 1,174   31,991
Hibbett, Inc. 569   33,560
JOANN, Inc. 289   459
Leslie's, Inc. (a) 1,400   15,414
MarineMax, Inc. (a) 956   27,485
National Vision Holdings, Inc. (a) 3,469   65,356
ODP Corp. (a) 1,768   79,525
Petco Health & Wellness Co., Inc. (a) 300   2,700
PetMed Express, Inc. 940   15,266
Rent the Runway, Inc., Class A (a) 1,423   4,056
Sally Beauty Holdings, Inc. (a) 4,739   73,834
Signet Jewelers Ltd. 2,030   157,893
Sportsman's Warehouse Holdings, Inc. (a) 1,811   15,357
Tractor Supply Co. 1,203   282,753
Ulta Beauty, Inc. (a) 582   317,580
Warby Parker, Inc., Class A (a) 3,728   39,480
Winmark Corp. 126   40,374
      1,771,222
  Number
of Shares
  Fair
Value
Packaged Foods & Meats - 0.8%
B&G Foods, Inc. 3,156   $49,013
Beyond Meat, Inc. (a) 2,737   44,421
BRC, Inc., Class A (a) 1,418   7,288
Calavo Growers, Inc. 796   22,901
Cal-Maine Foods, Inc. 1,673   101,869
Campbell Soup Co. 1,900   104,462
Conagra Brands, Inc. 5,200   195,312
Flowers Foods, Inc. 2,100   57,561
Fresh Market, Inc. (d) 1,243  
Freshpet, Inc. (a) 600   39,714
General Mills, Inc. 6,430   549,508
Hain Celestial Group, Inc. (a) 3,970   68,085
Hershey Co. 1,494   380,088
Hormel Foods Corp. 2,878   114,775
Hostess Brands, Inc. (a) 6,060   150,773
J & J Snack Foods Corp. 671   99,456
J M Smucker Co. 1,021   160,675
JBS SA 7,900   27,812
John B Sanfilippo & Son, Inc. 401   38,865
Kellogg Co. 2,550   170,748
Kraft Heinz Co. 7,529   291,146
Lamb Weston Holdings, Inc. 1,586   165,769
Lancaster Colony Corp. 882   178,940
Lifecore Biomedical, Inc. (a) 808   3,050
McCormick & Co., Inc. 2,777   231,074
Mission Produce, Inc. (a) 1,844   20,487
Mondelez International, Inc., Class A 14,502   1,011,079
Nestle SA (c) 49,486   6,043,100
Pilgrim's Pride Corp. (a) 300   6,954
Post Holdings, Inc. (a) 600   53,922
Seaboard Corp. 2   7,540
Seneca Foods Corp., Class A (a) 250   13,067
Simply Good Foods Co. (a) 4,031   160,313
Sovos Brands, Inc. (a) 1,751   29,207
Tattooed Chef, Inc. (a) 1,583   2,248
Tootsie Roll Industries, Inc. 726   32,607
TreeHouse Foods, Inc. (a) 2,314   116,695
Tyson Foods, Inc., Class A 3,132   185,790
Utz Brands, Inc. 2,929   48,241
Vital Farms, Inc. (a) 1,372   20,992
Whole Earth Brands, Inc. (a) 2,214   5,668
      11,011,215
Paper & Plastic Packaging Products & Materials - 0.1%
Amcor PLC 15,100   171,838
Avery Dennison Corp. 942   168,552
Cryptyde, Inc. (a) 1,068   89
Graphic Packaging Holding Co. 3,000   76,470
International Paper Co. 3,623   130,645
Packaging Corp. of America 983   136,470
Pactiv Evergreen, Inc. 1,993   15,944
Ranpak Holdings Corp. (a) 2,152   11,233
Sealed Air Corp. 1,505   69,095
Sonoco Products Co. 1,000   61,000
Westrock Co. 2,700   82,269
      923,605
Paper Products - 0.0% *
Clearwater Paper Corp. (a) 758   25,332
Glatfelter Corp. 1,418   4,523
 
See Notes to Schedule of Investments.
54 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Sylvamo Corp. 1,560   $72,166
      102,021
Passenger Airlines - 0.1%
Alaska Air Group, Inc. (a) 1,521   63,821
Allegiant Travel Co. (a) 697   64,110
American Airlines Group, Inc. (a) 7,500   110,625
Blade Air Mobility, Inc. (a) 2,879   9,731
Delta Air Lines, Inc. (a) 6,957   242,938
Frontier Group Holdings, Inc. (a) 1,717   16,895
Hawaiian Holdings, Inc. (a) 2,309   21,150
JetBlue Airways Corp. (a) 3,200   23,296
Joby Aviation, Inc. (a) 11,492   49,875
SkyWest, Inc. (a) 2,227   49,373
Southwest Airlines Co. 5,962   194,003
Spirit Airlines, Inc. 4,816   82,691
Sun Country Airlines Holdings, Inc. (a) 1,491   30,566
United Airlines Holdings, Inc. (a) 3,266   144,521
Wheels Up Experience, Inc. (a) 5,624   3,559
      1,107,154
Passenger Ground Transportation - 0.1%
Avis Budget Group, Inc. (a) 300   58,440
Bird Global, Inc., Class A (a) 4,530   1,268
Hertz Global Holdings, Inc. (a) 2,400   39,096
Lyft, Inc., Class A (a) 3,215   29,803
Uber Technologies, Inc. (a) 20,559   651,720
      780,327
Personal Care Products - 0.1%
Beauty Health Co. (a) 3,808   48,095
BellRing Brands, Inc. (a) 6,063   206,142
Coty, Inc., Class A (a) 4,300   51,858
Edgewell Personal Care Co. 2,273   96,421
elf Beauty, Inc. (a) 2,231   183,723
Estee Lauder Cos., Inc., Class A 2,466   607,770
Haleon PLC 90,390   359,898
Herbalife Nutrition Ltd. (a) 4,326   69,649
Honest Co., Inc. (a) 1,989   3,580
Inter Parfums, Inc. 817   116,210
Medifast, Inc. 484   50,176
Nature's Sunshine Products, Inc. (a) 546   5,575
Nu Skin Enterprises, Inc., Class A 2,171   85,342
Olaplex Holdings, Inc. (a) 600   2,562
Thorne HealthTech, Inc. (a) 801   3,701
USANA Health Sciences, Inc. (a) 508   31,953
Veru, Inc. (a) 1,590   1,844
      1,924,499
Pharmaceuticals - 1.8%
Aclaris Therapeutics, Inc. (a) 2,952   23,882
Amneal Pharmaceuticals, Inc. (a) 3,365   4,677
Amphastar Pharmaceuticals, Inc. (a) 1,700   63,750
Amylyx Pharmaceuticals, Inc. (a) 2,229   65,399
AN2 Therapeutics, Inc. (a) 603   5,952
ANI Pharmaceuticals, Inc. (a) 580   23,038
  Number
of Shares
  Fair
Value
Arvinas, Inc. (a) 2,157   $58,929
Atea Pharmaceuticals, Inc. (a) 3,743   12,539
Athira Pharma, Inc. (a) 927   2,317
Axsome Therapeutics, Inc. (a) 1,415   87,277
Bristol-Myers Squibb Co. 22,729   1,575,347
Cara Therapeutics, Inc. (a) 2,213   10,866
Cassava Sciences, Inc. (a) 1,706   41,149
Catalent, Inc. (a) 2,029   133,326
Collegium Pharmaceutical, Inc. (a) 1,507   36,153
Corcept Therapeutics, Inc. (a) 3,819   82,719
DICE Therapeutics, Inc. (a) 1,580   45,267
Edgewise Therapeutics, Inc. (a) 1,855   12,373
Elanco Animal Health, Inc. (a) 4,882   45,891
Eli Lilly & Co. 9,068   3,114,133
Esperion Therapeutics, Inc. (a) 2,081   3,309
Evolus, Inc. (a) 1,540   13,028
EyePoint Pharmaceuticals, Inc. (a) 800   2,352
Fulcrum Therapeutics, Inc. (a) 2,625   7,481
GSK PLC 73,325   1,298,596
Harmony Biosciences Holdings, Inc. (a) 1,168   38,135
Innoviva, Inc. (a) 2,857   32,141
Intra-Cellular Therapies, Inc. (a) 4,152   224,831
Jazz Pharmaceuticals PLC (a) 600   87,798
Johnson & Johnson 28,137   4,361,235
Ligand Pharmaceuticals, Inc. (a) 674   49,579
Liquidia Corp. (a) 2,297   15,872
Merck & Co., Inc. 26,992   2,871,679
Nektar Therapeutics (a) 9,451   6,643
NGM Biopharmaceuticals, Inc. (a) 1,322   5,394
Nuvation Bio, Inc. (a) 5,854   9,718
Ocular Therapeutix, Inc. (a) 3,680   19,394
Organon & Co. 2,690   63,269
Pacira BioSciences, Inc. (a) 1,987   81,089
Perrigo Co. PLC 1,600   57,392
Pfizer, Inc. 60,495   2,468,196
Phathom Pharmaceuticals, Inc. (a) 1,262   9,011
Phibro Animal Health Corp., Class A 956   14,646
Prestige Consumer Healthcare, Inc. (a) 2,262   141,669
Provention Bio, Inc. (a) 2,886   69,553
Reata Pharmaceuticals, Inc., Class A (a) 1,258   114,377
Relmada Therapeutics, Inc. (a) 917   2,072
Revance Therapeutics, Inc. (a) 3,671   118,243
Roche Holding AG 13,116   3,760,469
Royalty Pharma PLC, Class A 3,700   133,311
Sanofi 20,546   2,232,811
SIGA Technologies, Inc. 2,314   13,305
Supernus Pharmaceuticals, Inc. (a) 2,192   79,416
Tarsus Pharmaceuticals, Inc. (a) 912   11,464
Theravance Biopharma, Inc. (a) 2,953   32,040
Theseus Pharmaceuticals, Inc. (a) 898   7,974
Third Harmonic Bio, Inc. (a) 363   1,496
Ventyx Biosciences, Inc. (a) 1,112   37,252
Viatris, Inc. 13,100   126,022
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 55

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Xeris Biopharma Holdings, Inc. (a) 6,727   $10,965
Zoetis, Inc. 5,122   852,506
      24,930,717
Property & Casualty Insurance - 0.4%
Allstate Corp. 2,691   298,190
Ambac Financial Group, Inc. (a) 1,996   30,898
American Financial Group, Inc. 681   82,742
AMERISAFE, Inc. 854   41,803
Arch Capital Group Ltd. (a) 3,600   244,332
Argo Group International Holdings Ltd. 1,422   41,650
Assured Guaranty Ltd. 700   35,189
Axis Capital Holdings Ltd. 900   49,068
Chubb Ltd. 4,369   848,372
Cincinnati Financial Corp. 1,665   186,613
CNA Financial Corp. 200   7,806
Donegal Group, Inc., Class A 770   11,766
Employers Holdings, Inc. 1,210   50,445
Erie Indemnity Co., Class A 264   61,158
Fidelity National Financial, Inc. 2,800   97,804
First American Financial Corp. 1,100   61,226
Hanover Insurance Group, Inc. 400   51,400
HCI Group, Inc. 292   15,651
Investors Title Co. 65   9,815
James River Group Holdings Ltd. 1,649   34,052
Kemper Corp. 600   32,796
Kinsale Capital Group, Inc. 979   293,847
Lemonade, Inc. (a) 2,119   30,217
Loews Corp. 2,200   127,644
Markel Corp. (a) 150   191,611
MBIA, Inc. (a) 2,186   20,242
Mercury General Corp. 1,201   38,120
NI Holdings, Inc. (a) 227   2,951
Old Republic International Corp. 3,110   77,657
Palomar Holdings, Inc. (a) 1,077   59,450
ProAssurance Corp. 2,408   44,500
Progressive Corp. 6,167   882,251
RLI Corp. 1,768   234,985
Root, Inc., Class A (a) 228   1,028
Safety Insurance Group, Inc. 634   47,246
Selective Insurance Group, Inc. 2,701   257,486
Skyward Specialty Insurance Group, Inc. (a) 451   9,863
Stewart Information Services Corp. 1,196   48,259
Tiptree, Inc. 1,186   17,280
Travelers Cos., Inc. 2,491   426,982
Trean Insurance Group, Inc. (a) 1,184   7,246
United Fire Group, Inc. 970   25,754
Universal Insurance Holdings, Inc. 1,180   21,500
W R Berkley Corp. 2,031   126,450
White Mountains Insurance Group Ltd. 24   33,060
      5,318,405
Publishing - 0.0% *
Daily Journal Corp. (a) 57   16,243
Gannett Co., Inc. (a) 6,998   13,086
John Wiley & Sons, Inc., Class A 1,898   73,586
  Number
of Shares
  Fair
Value
New York Times Co., Class A 1,901   $73,911
News Corp., Class A 4,194   72,430
News Corp., Class B 874   15,234
Scholastic Corp. 1,278   43,733
      308,223
Rail Transportation - 0.2%
CSX Corp. 22,484   673,171
Norfolk Southern Corp. 2,538   538,056
Union Pacific Corp. 6,519   1,312,014
      2,523,241
Real Estate Development - 0.0% *
Forestar Group, Inc. (a) 889   13,833
Howard Hughes Corp. (a) 400   32,000
Stratus Properties, Inc. 173   3,460
      49,293
Real Estate Operating Companies - 0.0% *
DigitalBridge Group, Inc. 6,974   83,618
FRP Holdings, Inc. (a) 291   16,843
Kennedy-Wilson Holdings, Inc. 5,211   86,451
Transcontinental Realty Investors, Inc. (a) 80   3,391
      190,303
Real Estate Services - 0.1%
Anywhere Real Estate, Inc. (a) 4,891   25,825
CBRE Group, Inc., Class A (a) 3,182   231,681
Compass, Inc., Class A (a) 12,234   39,516
Cushman & Wakefield PLC (a) 7,020   73,991
Doma Holdings, Inc. (a) 3,524   1,436
Douglas Elliman, Inc. 3,548   11,034
eXp World Holdings, Inc. 3,130   39,720
Jones Lang LaSalle, Inc. (a) 500   72,745
Marcus & Millichap, Inc. 1,129   36,252
Newmark Group, Inc., Class A 6,029   42,685
Offerpad Solutions, Inc. (a) 1,822   960
Opendoor Technologies, Inc. (a) 5,500   9,680
RE/MAX Holdings, Inc., Class A 773   14,501
Redfin Corp. (a) 4,776   43,271
Zillow Group, Inc., Class A (a) 400   17,480
Zillow Group, Inc., Class C (a) 1,800   80,046
      740,823
Regional Banks - 0.9%
1st Source Corp. 725   31,284
ACNB Corp. 404   13,150
Amalgamated Financial Corp. 818   14,470
Amerant Bancorp, Inc. 1,249   27,178
American National Bankshares, Inc. 500   15,850
Ameris Bancorp 3,011   110,142
Arrow Financial Corp. 654   16,291
Associated Banc-Corp. 6,783   121,958
Atlantic Union Bankshares Corp. 3,406   119,380
Axos Financial, Inc. (a) 2,611   96,398
Banc of California, Inc. 2,362   29,596
BancFirst Corp. 870   72,297
Bancorp, Inc. (a) 2,413   67,202
Bank First Corp. 351   25,827
Bank of Hawaii Corp. 500   26,040
Bank of Marin Bancorp 721   15,783
 
See Notes to Schedule of Investments.
56 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Bank OZK 1,200   $41,040
BankUnited, Inc. 3,453   77,969
Bankwell Financial Group, Inc. 294   7,309
Banner Corp. 1,509   82,044
Bar Harbor Bankshares 680   17,986
BayCom Corp. 604   10,316
BCB Bancorp, Inc. 722   9,480
Berkshire Hills Bancorp, Inc. 1,861   46,637
Blue Foundry Bancorp (a) 1,248   11,881
Blue Ridge Bankshares, Inc. 866   8,833
BOK Financial Corp. 300   25,323
Bridgewater Bancshares, Inc. (a) 1,007   10,916
Brookline Bancorp, Inc. 3,800   39,895
Business First Bancshares, Inc. 1,120   19,186
Byline Bancorp, Inc. 1,116   24,128
Cadence Bank 8,225   170,751
Cambridge Bancorp 312   20,221
Camden National Corp. 654   23,668
Capital Bancorp, Inc. 466   7,754
Capital City Bank Group, Inc. 620   18,172
Capitol Federal Financial, Inc. 5,545   37,318
Capstar Financial Holdings, Inc. 952   14,423
Carter Bankshares, Inc. (a) 1,145   16,030
Cathay General Bancorp 3,174   109,566
Central Pacific Financial Corp. 1,213   21,713
Citizens & Northern Corp. 727   15,543
Citizens Financial Group, Inc. 5,252   159,503
City Holding Co. 653   59,345
Civista Bancshares, Inc. 750   12,660
CNB Financial Corp. 925   17,760
Coastal Financial Corp. (a) 479   17,249
Colony Bankcorp, Inc. 836   8,527
Columbia Banking System, Inc. 2,293   49,116
Columbia Financial, Inc. (a) 1,537   28,096
Comerica, Inc. 1,364   59,225
Commerce Bancshares, Inc. 1,223   71,362
Community Bank System, Inc. 2,426   127,341
Community Trust Bancorp, Inc. 709   26,907
ConnectOne Bancorp, Inc. 1,664   29,420
CrossFirst Bankshares, Inc. (a) 2,027   21,243
Cullen/Frost Bankers, Inc. 600   63,204
Customers Bancorp, Inc. (a) 1,368   25,335
CVB Financial Corp. 6,067   101,198
Dime Community Bancshares, Inc. 1,458   33,126
Eagle Bancorp, Inc. 1,346   45,051
East West Bancorp, Inc. 1,493   82,861
Eastern Bankshares, Inc. 7,027   88,681
Enterprise Bancorp, Inc. 453   14,251
Enterprise Financial Services Corp. 1,559   69,516
Equity Bancshares, Inc., Class A 698   17,010
Esquire Financial Holdings, Inc. 344   13,450
Farmers & Merchants Bancorp, Inc. 611   14,860
Farmers National Banc Corp. 1,600   20,224
FB Financial Corp. 1,591   49,448
Fifth Third Bancorp 6,833   182,031
Financial Institutions, Inc. 732   14,113
First Bancorp 1,757   62,409
First Bancorp, Inc. 476   12,324
  Number
of Shares
  Fair
Value
First Bancshares, Inc. 1,153   $29,782
First Bank 789   7,969
First Busey Corp. 2,297   46,721
First Business Financial Services, Inc. 390   11,899
First Citizens BancShares, Inc., Class A 119   115,799
First Commonwealth Financial Corp. 4,664   57,974
First Community Bankshares, Inc. 724   18,136
First Financial Bancorp 4,112   89,518
First Financial Bankshares, Inc. 5,892   187,955
First Financial Corp. 508   19,040
First Foundation, Inc. 2,307   17,187
First Guaranty Bancshares, Inc. 169   2,648
First Hawaiian, Inc. 1,200   24,756
First Horizon Corp. 5,900   104,902
First Internet Bancorp 296   4,928
First Interstate BancSystem, Inc., Class A 4,063   121,321
First Merchants Corp. 2,524   83,166
First Mid Bancshares, Inc. 849   23,110
First of Long Island Corp. 1,047   14,135
First Republic Bank 1,982   27,728
First Western Financial, Inc. (a) 408   8,078
Five Star Bancorp 589   12,569
Flushing Financial Corp. 1,298   19,327
FNB Corp. 4,000   46,400
Fulton Financial Corp. 7,384   102,047
FVCBankcorp, Inc. (a) 757   8,062
German American Bancorp, Inc. 1,236   41,245
Glacier Bancorp, Inc. 5,035   211,520
Great Southern Bancorp, Inc. 426   21,590
Greene County Bancorp, Inc. 348   7,893
Guaranty Bancshares, Inc. 403   11,232
Hancock Whitney Corp. 3,914   142,470
Hanmi Financial Corp. 1,366   25,367
HarborOne Bancorp, Inc. 1,990   24,278
HBT Financial, Inc. 595   11,733
Heartland Financial USA, Inc. 1,814   69,585
Heritage Commerce Corp. 2,655   22,116
Heritage Financial Corp. 1,550   33,170
Hilltop Holdings, Inc. 2,208   65,511
Hingham Institution For Savings The 68   15,874
Home Bancorp, Inc. 358   11,825
Home BancShares, Inc. 8,524   185,056
HomeStreet, Inc. 865   15,561
HomeTrust Bancshares, Inc. 658   16,180
Hope Bancorp, Inc. 5,142   50,494
Horizon Bancorp, Inc. 1,829   20,229
Huntington Bancshares, Inc. 16,246   181,955
Independent Bank Corp. 3,008   153,028
Independent Bank Group, Inc. 1,581   73,279
International Bancshares Corp. 2,440   104,481
John Marshall Bancorp, Inc. 567   12,247
Kearny Financial Corp. 2,705   21,965
KeyCorp 9,751   122,083
Lakeland Bancorp, Inc. 2,772   43,354
Lakeland Financial Corp. 1,086   68,027
Live Oak Bancshares, Inc. 1,460   35,580
Luther Burbank Corp. 775   7,347
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 57

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
M&T Bank Corp. 1,752   $209,487
Macatawa Bank Corp. 1,283   13,112
Mercantile Bank Corp. 702   21,467
Metrocity Bankshares, Inc. 891   15,227
Metropolitan Bank Holding Corp. (a) 469   15,894
Mid Penn Bancorp, Inc. 661   16,928
Midland States Bancorp, Inc. 965   20,670
MidWestOne Financial Group, Inc. 654   15,971
MVB Financial Corp. 507   10,464
National Bank Holdings Corp., Class A 1,302   43,565
NBT Bancorp, Inc. 1,852   62,431
New York Community Bancorp, Inc. 6,300   56,952
Nicolet Bankshares, Inc. (a) 551   34,741
Northeast Bank 322   10,839
Northfield Bancorp, Inc. 1,937   22,818
Northwest Bancshares, Inc. 5,381   64,733
OceanFirst Financial Corp. 2,579   47,660
Old National Bancorp 13,292   191,671
Old Second Bancorp, Inc. 1,914   26,911
Origin Bancorp, Inc. 1,009   32,439
Orrstown Financial Services, Inc. 512   10,168
Pacific Premier Bancorp, Inc. 4,268   102,517
PacWest Bancorp 1,300   12,649
Park National Corp. 635   75,292
Parke Bancorp, Inc. 513   9,121
Pathward Financial, Inc. 1,184   49,124
PCB Bancorp 582   8,433
Peapack-Gladstone Financial Corp. 775   22,956
Peoples Bancorp, Inc. 1,249   32,162
Peoples Financial Services Corp. 339   14,696
Pinnacle Financial Partners, Inc. 886   48,872
Pioneer Bancorp, Inc. (a) 624   6,153
PNC Financial Services Group, Inc. 4,315   548,436
Preferred Bank 595   32,612
Premier Financial Corp. 1,590   32,961
Primis Financial Corp. 1,102   10,612
Prosperity Bancshares, Inc. 900   55,368
Provident Bancorp, Inc. 453   3,099
Provident Financial Services, Inc. 3,237   62,086
QCR Holdings, Inc. 711   31,220
RBB Bancorp 722   11,191
Red River Bancshares, Inc. 218   10,488
Regions Financial Corp. 9,377   174,037
Renasant Corp. 2,420   74,004
Republic Bancorp, Inc., Class A 404   17,142
Republic First Bancorp, Inc. (a) 1,402   1,907
S&T Bancorp, Inc. 1,733   54,503
Sandy Spring Bancorp, Inc. 1,939   50,375
Seacoast Banking Corp. of Florida 3,185   75,485
ServisFirst Bancshares, Inc. 2,280   124,556
Shore Bancshares, Inc. 872   12,452
Sierra Bancorp 676   11,641
Simmons First National Corp., Class A 5,538   96,860
SmartFinancial, Inc. 717   16,591
South Plains Financial, Inc. 486   10,405
  Number
of Shares
  Fair
Value
Southern First Bancshares, Inc. (a) 372   $11,420
Southern Missouri Bancorp, Inc. 367   13,729
Southside Bancshares, Inc. 1,306   43,359
SouthState Corp. 3,395   241,928
Stellar Bancorp, Inc. 1,992   49,023
Sterling Bancorp, Inc. (a) 434   2,456
Stock Yards Bancorp, Inc. 1,268   69,918
Summit Financial Group, Inc. 548   11,371
Synovus Financial Corp. 1,618   49,883
Texas Capital Bancshares, Inc. (a) 2,199   107,663
Third Coast Bancshares, Inc. (a) 638   10,023
Tompkins Financial Corp. 620   41,050
Towne Bank 3,153   84,027
TriCo Bancshares 1,383   57,519
Triumph Financial, Inc. (a) 998   57,944
Truist Financial Corp. 14,398   490,972
TrustCo Bank Corp. NY 847   27,053
Trustmark Corp. 2,711   66,962
UMB Financial Corp. 2,002   115,555
United Bankshares, Inc. 5,915   208,208
United Community Banks, Inc. 4,829   135,791
Unity Bancorp, Inc. 364   8,303
Univest Financial Corp. 1,296   30,767
USCB Financial Holdings, Inc. (a) 296   2,927
Valley National Bancorp 19,530   180,457
Veritex Holdings, Inc. 2,333   42,601
Washington Federal, Inc. 2,858   86,083
Washington Trust Bancorp, Inc. 771   26,723
Webster Financial Corp. 1,672   65,910
WesBanco, Inc. 2,530   77,671
West BanCorp, Inc. 785   14,342
Westamerica BanCorp 1,156   51,211
Western Alliance Bancorp 1,100   39,094
Wintrust Financial Corp. 600   43,770
WSFS Financial Corp. 2,789   104,894
Zions Bancorp NA 1,575   47,140
      11,881,127
Reinsurance - 0.1%
Enstar Group Ltd. (a) 511   118,445
Everest Re Group Ltd. 435   155,739
Greenlight Capital Re Ltd., Class A (a) 1,282   12,038
Reinsurance Group of America, Inc. 700   92,932
Swiss Re AG 5,383   553,861
      933,015
Renewable Electricity - 0.0% *
Altus Power, Inc. (a) 3,995   21,892
Brookfield Renewable Corp., Class A 3,500   122,261
Clearway Energy, Inc., Class A 1,555   46,697
Clearway Energy, Inc., Class C 3,732   116,923
Montauk Renewables, Inc. (a) 2,914   22,933
Ormat Technologies, Inc. 2,370   200,905
Sunnova Energy International, Inc. (a) 4,390   68,572
      600,183
 
See Notes to Schedule of Investments.
58 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Research & Consulting Services - 0.2%
Atlas Technical Consultants, Inc. (a) 946   $11,532
Booz Allen Hamilton Holding Corp. 1,324   122,722
CACI International, Inc., Class A (a) 300   88,884
CBIZ, Inc. (a) 2,153   106,552
Clarivate PLC (a) 5,512   51,758
CoStar Group, Inc. (a) 4,528   311,753
CRA International, Inc. 312   33,640
Dun & Bradstreet Holdings, Inc. 2,100   24,654
Equifax, Inc. 1,391   282,150
Experian PLC 16,440   542,582
Exponent, Inc. 2,303   229,586
Forrester Research, Inc. (a) 524   16,951
Franklin Covey Co. (a) 553   21,274
FTI Consulting, Inc. (a) 400   78,940
Huron Consulting Group, Inc. (a) 874   70,243
ICF International, Inc. 815   89,405
Jacobs Solutions, Inc. 1,400   164,514
KBR, Inc. 1,300   71,565
Legalzoom.com, Inc. (a) 4,303   40,362
Leidos Holdings, Inc. 1,491   137,261
NV5 Global, Inc. (a) 600   62,382
Planet Labs PBC (a) 9,073   35,657
Red Violet, Inc. (a) 493   8,677
Resources Connection, Inc. 1,459   24,891
Science Applications International Corp. 600   64,476
Spire Global, Inc. (a) 3,679   2,458
TransUnion 2,189   136,024
Verisk Analytics, Inc. 1,746   334,988
Willdan Group, Inc. (a) 588   9,185
      3,175,066
Restaurants - 0.5%
Aramark 2,300   82,340
Biglari Holdings, Inc., Class B (a) 39   6,599
BJ's Restaurants, Inc. (a) 1,023   29,810
Bloomin' Brands, Inc. 3,977   102,010
Brinker International, Inc. (a) 1,923   73,074
Cheesecake Factory, Inc. 2,143   75,112
Chipotle Mexican Grill, Inc. (a) 302   515,904
Chuy's Holdings, Inc. (a) 811   29,074
Cracker Barrel Old Country Store, Inc. 1,007   114,395
Darden Restaurants, Inc. 1,400   217,224
Dave & Buster's Entertainment, Inc. (a) 1,900   69,901
Denny's Corp. (a) 2,521   28,134
Dine Brands Global, Inc. 659   44,575
Domino's Pizza, Inc. 380   125,351
DoorDash, Inc., Class A (a) 2,700   171,612
El Pollo Loco Holdings, Inc. 971   9,312
First Watch Restaurant Group, Inc. (a) 745   11,965
Jack in the Box, Inc. 946   82,860
Krispy Kreme, Inc. 3,212   49,947
Kura Sushi USA, Inc., Class A (a) 224   14,748
McDonald's Corp. 7,860   2,197,735
Noodles & Co. (a) 2,040   9,894
ONE Group Hospitality, Inc. (a) 1,141   9,242
Papa John's International, Inc. 1,483   111,121
  Number
of Shares
  Fair
Value
Portillo's, Inc., Class A (a) 1,488   $31,799
Ruth's Hospitality Group, Inc. 1,437   23,596
Shake Shack, Inc., Class A (a) 1,654   91,780
Starbucks Corp. 12,180   1,268,303
Sweetgreen, Inc., Class A (a) 4,003   31,383
Texas Roadhouse, Inc. 3,032   327,638
Wendy's Co. 1,700   37,026
Wingstop, Inc. 1,357   249,118
Yum! Brands, Inc. 2,981   393,730
      6,636,312
Retail REITs - 0.2%
Acadia Realty Trust 4,139   57,739
Agree Realty Corp. 3,962   271,833
Alexander's, Inc. 98   18,987
Brixmor Property Group, Inc. 3,500   75,320
CBL & Associates Properties, Inc. 1,200   30,768
Federal Realty Investment Trust 900   88,947
Getty Realty Corp. 1,870   67,376
InvenTrust Properties Corp. 3,002   70,247
Kimco Realty Corp. 6,334   123,703
Kite Realty Group Trust 9,876   206,606
Macerich Co. 9,487   100,562
National Retail Properties, Inc. 1,900   83,885
Necessity Retail REIT, Inc. 5,986   37,592
NETSTREIT Corp. 2,458   44,932
Phillips Edison & Co., Inc. 5,315   173,375
Realty Income Corp. 6,797   430,386
Regency Centers Corp. 1,800   110,124
Retail Opportunity Investments Corp. 5,337   74,505
RPT Realty 3,788   36,024
Saul Centers, Inc. 542   21,138
Simon Property Group, Inc. 3,663   410,146
SITE Centers Corp. 8,746   107,401
Spirit Realty Capital, Inc. 1,600   63,744
Tanger Factory Outlet Centers, Inc. 4,481   87,962
Urban Edge Properties 5,063   76,249
Urstadt Biddle Properties, Inc., Class A 1,242   21,822
Whitestone REIT 2,151   19,789
      2,911,162
Security & Alarm Services - 0.0% *
Brink's Co. 2,059   137,541
CoreCivic, Inc. (a) 5,088   46,810
GEO Group, Inc. (a) 5,286   41,706
      226,057
Self Storage REITs - 0.1%
CubeSmart 2,400   110,928
Extra Space Storage, Inc. 1,417   230,872
Life Storage, Inc. 848   111,164
National Storage Affiliates Trust 800   33,424
Public Storage 1,608   485,841
      972,229
Semiconductor Materials & Equipment - 0.3%
ACM Research, Inc., Class A (a) 2,176   25,459
Amkor Technology, Inc. 4,615   120,082
Applied Materials, Inc. 9,134   1,121,929
Atomera, Inc. (a) 634   4,039
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 59

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Axcelis Technologies, Inc. (a) 1,481   $197,343
AXT, Inc. (a) 2,118   8,430
Cohu, Inc. (a) 2,081   79,890
Enphase Energy, Inc. (a) 1,346   283,037
Entegris, Inc. 1,482   121,539
FormFactor, Inc. (a) 3,511   111,825
Ichor Holdings Ltd. (a) 1,257   41,154
KLA Corp. 1,523   607,936
Lam Research Corp. 1,379   731,035
MKS Instruments, Inc. 600   53,172
Onto Innovation, Inc. (a) 2,247   197,466
PDF Solutions, Inc. (a) 1,339   56,774
Photronics, Inc. (a) 2,676   44,368
Teradyne, Inc. 1,729   185,885
Ultra Clean Holdings, Inc. (a) 2,004   66,453
Veeco Instruments, Inc. (a) 2,264   47,838
      4,105,654
Semiconductors - 1.7%
Advanced Micro Devices, Inc. (a) 17,400   1,705,374
Alpha & Omega Semiconductor Ltd. (a) 1,000   26,950
Ambarella, Inc. (a) 1,684   130,375
Analog Devices, Inc. 5,469   1,078,596
Broadcom, Inc. 4,244   2,722,696
CEVA, Inc. (a) 1,030   31,343
Cirrus Logic, Inc. (a) 600   65,628
Credo Technology Group Holding Ltd. (a) 4,312   40,619
Diodes, Inc. (a) 2,018   187,190
First Solar, Inc. (a) 1,211   263,392
GLOBALFOUNDRIES, Inc. (a) 700   50,526
Impinj, Inc. (a) 975   132,132
Intel Corp. 43,803   1,431,044
Lattice Semiconductor Corp. (a) 1,400   133,700
MACOM Technology Solutions Holdings, Inc. (a) 2,460   174,266
Marvell Technology, Inc. 9,321   403,599
MaxLinear, Inc. (a) 3,308   116,475
Microchip Technology, Inc. 5,638   472,352
Micron Technology, Inc. 11,590   699,341
Monolithic Power Systems, Inc. 507   253,774
NVIDIA Corp. 25,392   7,053,136
ON Semiconductor Corp. (a) 4,517   371,839
Parade Technologies Ltd. 1,000   34,622
Power Integrations, Inc. 2,569   217,440
Qorvo, Inc. (a) 1,097   111,422
QUALCOMM, Inc. 11,934   1,522,540
Rambus, Inc. (a) 4,841   248,150
Rigetti Computing, Inc., Class A (a) 898   650
Semtech Corp. (a) 2,796   67,495
Silicon Laboratories, Inc. (a) 1,433   250,904
SiTime Corp. (a) 715   101,694
SkyWater Technology, Inc. (a) 372   4,233
Skyworks Solutions, Inc. 1,773   209,179
SMART Global Holdings, Inc. (a) 2,158   37,204
Synaptics, Inc. (a) 1,798   199,848
Texas Instruments, Inc. 9,692   1,802,809
Transphorm, Inc. (a) 571   2,278
Universal Display Corp. 487   75,548
Wolfspeed, Inc. (a) 1,279   83,071
      22,513,434
  Number
of Shares
  Fair
Value
Silver - 0.0% *
Hecla Mining Co. 25,118   $158,997
Single-Family Residential REITs - 0.0% *
American Homes 4 Rent, Class A 3,500   110,075
Bluerock Homes Trust, Inc. (a) 121   2,398
Equity LifeStyle Properties, Inc. 2,002   134,394
Invitation Homes, Inc. 6,570   205,181
Sun Communities, Inc. 1,220   171,874
UMH Properties, Inc. 2,287   33,825
      657,747
Soft Drinks & Non-alcoholic Beverages - 0.5%
Celsius Holdings, Inc. (a) 2,516   233,837
Coca-Cola Co. 41,638   2,582,805
Coca-Cola Consolidated, Inc. 214   114,507
Keurig Dr Pepper, Inc. 9,391   331,315
Monster Beverage Corp. (a) 7,904   426,895
National Beverage Corp. (a) 1,052   55,461
PepsiCo, Inc. 14,763   2,691,295
Primo Water Corp. 7,175   110,136
Vita Coco Co., Inc. (a) 1,313   25,761
      6,572,012
Specialized Consumer Services - 0.0% *
ADT, Inc. 2,373   17,157
Beachbody Co., Inc. (a) 3,014   1,453
Carriage Services, Inc. 612   18,678
European Wax Center, Inc., Class A 1,121   21,299
Frontdoor, Inc. (a) 3,769   105,080
H&R Block, Inc. 1,400   49,350
Mister Car Wash, Inc. (a) 900   7,758
Rover Group, Inc. (a) 4,341   19,665
Service Corp. International 1,578   108,535
WW International, Inc. (a) 2,682   11,050
      360,025
Specialized Finance - 0.0% *
A-Mark Precious Metals, Inc. 839   29,071
SWK Holdings Corp. (a) 217   3,876
      32,947
Specialty Chemicals - 0.3%
Albemarle Corp. 1,337   295,531
Amyris, Inc. (a) 9,925   13,498
Ashland, Inc. 500   51,355
Aspen Aerogels, Inc. (a) 2,186   16,286
Avient Corp. 4,130   169,991
Axalta Coating Systems Ltd. (a) 2,500   75,725
Balchem Corp. 1,445   182,764
Celanese Corp. 1,200   130,668
Chase Corp. 340   35,608
Danimer Scientific, Inc. (a) 3,007   10,374
Diversey Holdings Ltd. (a) 3,538   28,622
DuPont de Nemours, Inc. 5,076   364,305
Eastman Chemical Co. 1,377   116,136
Ecolab, Inc. 2,740   453,552
Ecovyst, Inc. (a) 3,908   43,183
Element Solutions, Inc. 2,400   46,344
FutureFuel Corp. 1,304   9,624
Ginkgo Bioworks Holdings, Inc. (a) 8,000   10,640
 
See Notes to Schedule of Investments.
60 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
HB Fuller Co. 2,438   $166,881
Ingevity Corp. (a) 1,706   122,013
Innospec, Inc. 1,126   115,606
International Flavors & Fragrances, Inc. 2,713   249,487
Livent Corp. (a) 7,356   159,772
Minerals Technologies, Inc. 1,432   86,521
NewMarket Corp. 100   36,498
Perimeter Solutions SA (a) 5,249   42,412
PPG Industries, Inc. 2,491   332,748
Quaker Chemical Corp. 616   121,937
Rayonier Advanced Materials, Inc. (a) 2,943   18,453
RPM International, Inc. 1,436   125,277
Sensient Technologies Corp. 1,905   145,847
Sherwin-Williams Co. 2,508   563,723
Stepan Co. 942   97,054
Valhi, Inc. 60   1,045
      4,439,480
Steel - 0.1%
Alpha Metallurgical Resources, Inc. 694   108,264
ATI, Inc. (a) 5,622   221,844
Carpenter Technology Corp. 2,107   94,309
Cleveland-Cliffs, Inc. (a) 5,037   92,328
Commercial Metals Co. 5,292   258,779
Haynes International, Inc. 552   27,650
Nucor Corp. 2,693   415,988
Olympic Steel, Inc. 438   22,868
Ramaco Resources, Inc. 1,129   9,946
Reliance Steel & Aluminum Co. 598   153,530
Ryerson Holding Corp. 874   31,796
Schnitzer Steel Industries, Inc., Class A 1,133   35,236
Steel Dynamics, Inc. 1,802   203,734
SunCoke Energy, Inc. 3,745   33,630
TimkenSteel Corp. (a) 1,987   36,442
U.S. Steel Corp. 2,200   57,420
Warrior Met Coal, Inc. 2,274   83,479
Worthington Industries, Inc. 1,389   89,799
      1,977,042
Systems Software - 2.1%
A10 Networks, Inc. 2,855   44,224
Adeia, Inc. 4,662   41,305
Appian Corp., Class A (a) 1,771   78,597
Arteris, Inc. (a) 477   2,018
CommVault Systems, Inc. (a) 2,025   114,898
Crowdstrike Holdings, Inc., Class A (a) 2,310   317,071
CyberArk Software Ltd. (a) 700   103,586
Dolby Laboratories, Inc., Class A 657   56,121
Fortinet, Inc. (a) 6,955   462,229
Gen Digital, Inc. 5,713   98,035
IronNet, Inc. (a) 1,864   655
Microsoft Corp. 80,139   23,104,074
N-able, Inc. (a) 3,061   40,405
OneSpan, Inc. (a) 1,789   31,308
Oracle Corp. 16,445   1,528,069
Palo Alto Networks, Inc. (a) 3,141   627,383
Progress Software Corp. 1,954   112,257
Qualys, Inc. (a) 1,747   227,145
Rapid7, Inc. (a) 2,688   123,406
  Number
of Shares
  Fair
Value
SecureWorks Corp., Class A (a) 300   $2,571
SentinelOne, Inc., Class A (a) 2,400   39,264
ServiceNow, Inc. (a) 2,128   988,924
SolarWinds Corp. (a) 2,220   19,092
Telos Corp. (a) 1,781   4,506
Tenable Holdings, Inc. (a) 5,065   240,638
Teradata Corp. (a) 1,100   44,308
UiPath, Inc., Class A (a) 3,600   63,216
Varonis Systems, Inc. (a) 4,863   126,487
VMware, Inc., Class A (a) 2,239   279,539
Xperi, Inc. (a) 1,913   20,909
Zscaler, Inc. (a) 879   102,694
Zuora, Inc., Class A (a) 5,529   54,627
      29,099,561
Technology Distributors - 0.1%
Arrow Electronics, Inc. (a) 767   95,775
Avnet, Inc. 1,000   45,200
CDW Corp. 1,371   267,194
ePlus, Inc. (a) 1,177   57,720
Insight Enterprises, Inc. (a) 1,423   203,432
PC Connection, Inc. 515   23,155
ScanSource, Inc. (a) 1,136   34,580
TD SYNNEX Corp. 500   48,395
      775,451
Technology Hardware, Storage & Peripherals - 2.0%
Apple, Inc. 160,965   26,543,130
Avid Technology, Inc. (a) 1,553   49,665
CompoSecure, Inc. (a) 123   905
Corsair Gaming, Inc. (a) 1,734   31,819
Dell Technologies, Inc., Class C 2,604   104,707
Diebold Nixdorf, Inc. (a) 2,294   2,753
Eastman Kodak Co. (a) 2,847   11,673
Hewlett Packard Enterprise Co. 13,784   219,579
HP, Inc. 10,638   312,225
IonQ, Inc. (a) 5,392   33,161
NetApp, Inc. 2,167   138,363
Pure Storage, Inc., Class A (a) 2,900   73,979
Super Micro Computer, Inc. (a) 2,124   226,312
Turtle Beach Corp. (a) 547   5,481
Western Digital Corp. (a) 3,500   131,845
Xerox Holdings Corp. 5,053   77,816
      27,963,413
Telecom Tower REITs - 0.1%
American Tower Corp. 5,034   1,028,648
Crown Castle, Inc. 4,705   629,717
SBA Communications Corp. 1,115   291,093
      1,949,458
Textiles - 0.0% *
Unifi, Inc. (a) 492   4,020
Timber REITs - 0.0% *
PotlatchDeltic Corp. 3,609   178,646
Rayonier, Inc. 1,600   53,216
Weyerhaeuser Co. 7,893   237,816
      469,678
Tires & Rubber - 0.0% *
Goodyear Tire & Rubber Co. (a) 12,750   140,505
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 61

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Tobacco - 0.2%
22nd Century Group, Inc. (a) 5,281   $4,061
Altria Group, Inc. 19,307   861,478
Philip Morris International, Inc. 16,691   1,623,200
Turning Point Brands, Inc. 693   14,553
Universal Corp. 1,075   56,857
Vector Group Ltd. 6,355   76,323
      2,636,472
Trading Companies & Distributors - 0.2%
Air Lease Corp. 1,200   47,244
Alta Equipment Group, Inc. 999   15,834
Applied Industrial Technologies, Inc. 1,733   246,311
Beacon Roofing Supply, Inc. (a) 2,334   137,356
BlueLinx Holdings, Inc. (a) 394   26,776
Boise Cascade Co. 1,797   113,660
Core & Main, Inc., Class A (a) 700   16,170
Custom Truck One Source, Inc. (a) 2,745   18,638
Distribution Solutions Group, Inc. (a) 247   11,229
DXP Enterprises, Inc. (a) 701   18,871
Fastenal Co. 6,237   336,424
GATX Corp. 1,592   175,152
Global Industrial Co. 607   16,292
GMS, Inc. (a) 1,904   110,223
H&E Equipment Services, Inc. 1,411   62,408
Herc Holdings, Inc. 1,142   130,074
Hudson Technologies, Inc. (a) 1,993   17,399
Karat Packaging, Inc. 334   4,452
McGrath RentCorp 1,103   102,921
MRC Global, Inc. (a) 3,716   36,119
MSC Industrial Direct Co., Inc., Class A 498   41,832
NOW, Inc. (a) 4,897   54,601
Rush Enterprises, Inc., Class A 1,896   103,522
Rush Enterprises, Inc., Class B 304   18,207
SiteOne Landscape Supply, Inc. (a) 500   68,435
Titan Machinery, Inc. (a) 906   27,588
Transcat, Inc. (a) 322   28,784
United Rentals, Inc. 744   294,445
Univar Solutions, Inc. (a) 1,700   59,551
Veritiv Corp. 578   78,111
Watsco, Inc. 320   101,811
WESCO International, Inc. 500   77,270
WW Grainger, Inc. 426   293,433
Xometry, Inc., Class A (a) 1,547   23,159
      2,914,302
Transaction & Payment Processing Services - 0.8%
Affirm Holdings, Inc. (a) 1,700   19,159
AvidXchange Holdings, Inc. (a) 6,513   50,801
Block, Inc. (a) 5,632   386,637
Cantaloupe, Inc. (a) 2,761   15,738
Cass Information Systems, Inc. 608   26,333
Euronet Worldwide, Inc. (a) 500   55,950
Fidelity National Information Services, Inc. 6,568   356,840
Fiserv, Inc. (a) 6,347   717,401
FleetCor Technologies, Inc. (a) 788   166,150
Flywire Corp. (a) 2,526   74,163
  Number
of Shares
  Fair
Value
Global Payments, Inc. 2,713   $285,516
I3 Verticals, Inc., Class A (a) 1,003   24,604
International Money Express, Inc. (a) 1,409   36,324
Jack Henry & Associates, Inc. 838   126,303
Marqeta, Inc., Class A (a) 19,167   87,593
Mastercard, Inc., Class A 9,055   3,290,678
MoneyGram International, Inc. (a) 4,189   43,649
Payoneer Global, Inc. (a) 9,776   61,393
PayPal Holdings, Inc. (a) 12,231   928,822
Paysafe Ltd. (a) 1,281   22,123
Priority Technology Holdings, Inc. (a) 431   1,547
Remitly Global, Inc. (a) 4,438   75,224
Repay Holdings Corp. (a) 3,957   25,998
Shift4 Payments, Inc., Class A (a) 600   45,480
Toast, Inc., Class A (a) 2,200   39,050
Visa, Inc., Class A 17,366   3,915,338
Western Union Co. 4,000   44,600
WEX, Inc. (a) 492   90,474
      11,013,888
Water Utilities - 0.1%
American States Water Co. 1,676   148,980
American Water Works Co., Inc. 2,132   312,317
Artesian Resources Corp., Class A 378   20,926
California Water Service Group 2,465   143,463
Essential Utilities, Inc. 2,400   104,760
Global Water Resources, Inc. 695   8,639
Middlesex Water Co. 771   60,230
Pure Cycle Corp. (a) 688   6,501
SJW Group 1,192   90,747
York Water Co. 643   28,742
      925,305
Wireless Telecommunication Services - 0.1%
Gogo, Inc. (a) 2,225   32,263
KORE Group Holdings, Inc. (a) 874   1,066
Shenandoah Telecommunications Co. 2,169   41,254
Telephone & Data Systems, Inc. 4,489   47,179
T-Mobile U.S., Inc. (a) 6,315   914,665
U.S. Cellular Corp. (a) 687   14,242
      1,050,669
Total Common Stock
(Cost $522,360,266)
    527,102,481
Total Domestic Equity
(Cost $522,360,266)
    527,102,481
Foreign Equity - 26.2%
Common Stock - 26.0%
Advertising - 0.1%
Cheil Worldwide, Inc. 840   12,035
CyberAgent, Inc. 7,400   62,551
Dentsu Group, Inc. 4,000   140,659
Focus Media Information Technology Co. Ltd., Class A 10,900   10,895
Gambling.com Group Ltd. (a) 503   4,985
Hakuhodo DY Holdings, Inc. 5,000   56,553
Informa PLC 25,221   216,680
Innovid Corp. (a) 4,148   5,849
 
See Notes to Schedule of Investments.
62 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Publicis Groupe SA 4,062   $317,649
WPP PLC 18,961   225,794
      1,053,650
Aerospace & Defense - 0.3%
AECC Aviation Power Co. Ltd., Class A 2,100   13,224
Airbus SE 10,655   1,425,720
Aselsan Elektronik Sanayi Ve Ticaret AS 7,417   20,088
AviChina Industry & Technology Co. Ltd., Class H 35,000   18,391
BAE Systems PLC 55,174   668,934
Bharat Electronics Ltd. 34,095   40,579
CAE, Inc. (a) 6,200   140,002
Dassault Aviation SA 434   86,013
Elbit Systems Ltd. 461   78,414
Kongsberg Gruppen ASA 1,517   61,302
Korea Aerospace Industries Ltd. 858   31,333
Kuang-Chi Technologies Co. Ltd., Class A 3,100   7,494
MTU Aero Engines AG 947   237,403
Rheinmetall AG 771   228,819
Rolls-Royce Holdings PLC (a) 148,532   274,208
Safran SA 6,113   906,575
Singapore Technologies Engineering Ltd. 26,900   74,121
Thales SA 1,894   280,525
      4,593,145
Agricultural & Farm Machinery - 0.1%
CNH Industrial NV 18,161   278,384
Husqvarna AB, Class B 7,171   62,300
Kubota Corp. 18,000   272,258
      612,942
Agricultural Products & Services - 0.0% *
Beijing Dabeinong Technology Group Co. Ltd., Class A (a) 7,600   8,646
Charoen Pokphand Indonesia Tbk PT 89,500   29,819
IOI Corp. Bhd 21,600   18,702
Kuala Lumpur Kepong Bhd 3,700   17,463
New Hope Liuhe Co. Ltd., Class A (a) 3,200   6,166
Sime Darby Plantation Bhd 21,300   20,680
Wilmar International Ltd. 33,506   106,251
      207,727
Air Freight & Logistics - 0.1%
Agility Public Warehousing Co. KSC 14,897   30,327
Deutsche Post AG 17,722   831,514
DSV AS 3,343   649,409
Hyundai Glovis Co. Ltd. 190   23,204
NIPPON EXPRESS HOLDINGS, Inc. 1,500   90,296
SF Holding Co. Ltd., Class A 3,700   29,807
SG Holdings Co. Ltd. 5,600   82,841
Yamato Holdings Co. Ltd. 4,900   83,911
YTO Express Group Co. Ltd., Class A 2,700   7,195
Yunda Holding Co. Ltd., Class A 3,600   6,196
  Number
of Shares
  Fair
Value
ZTO Express Cayman, Inc. ADR 4,109   $117,764
      1,952,464
Airport Services - 0.1%
Aena SME SA (a)(e) 1,327   214,973
Aeroports de Paris (a) 512   73,225
Airports of Thailand PCL NVDR (a) 39,863   82,840
Auckland International Airport Ltd. (a) 21,920   119,355
Beijing Capital International Airport Co. Ltd., Class H (a) 16,000   11,784
Grupo Aeroportuario del Pacifico SAB de CV, Class B 3,300   64,079
Grupo Aeroportuario del Sureste SAB de CV, Class B 1,985   60,599
Malaysia Airports Holdings Bhd (a) 6,700   10,324
Shanghai International Airport Co. Ltd., Class A (a) 1,300   10,554
      647,733
Alternative Carriers - 0.0% *
Liberty Latin America Ltd., Class A (a) 1,788   14,858
Liberty Latin America Ltd., Class C (a) 6,488   53,591
      68,449
Aluminum - 0.0% *
Aluminum Corp. of China Ltd., Class H 40,000   20,260
Aluminum Corp. of China Ltd., Class A 4,800   3,859
China Hongqiao Group Ltd. 30,000   28,829
Hindalco Industries Ltd. 14,043   69,627
Norsk Hydro ASA 23,707   176,880
Press Metal Aluminium Holdings Bhd 38,100   42,199
Shandong Nanshan Aluminum Co. Ltd., Class A 14,700   7,259
United Co. RUSAL International PJSC (a)(d)** 55,670  
Yunnan Aluminium Co. Ltd., Class A 4,900   9,703
      358,616
Apparel Retail - 0.1%
Fast Retailing Co. Ltd. 3,200   698,862
Foschini Group Ltd. 3,538   18,124
H & M Hennes & Mauritz AB, Class B 12,859   184,020
Industria de Diseno Textil SA 19,480   655,611
Lojas Renner SA 9,932   32,459
Mr Price Group Ltd. 2,232   18,140
Pepkor Holdings Ltd. (e) 14,652   14,237
Topsports International Holdings Ltd. (e) 21,000   19,142
Trent Ltd. 1,590   26,673
Zalando SE (a)(e) 3,937   165,298
ZOZO, Inc. 2,500   57,045
      1,889,611
Apparel, Accessories & Luxury Goods - 0.8%
adidas AG 2,888   512,883
ANTA Sports Products Ltd. 12,276   178,235
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 63

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Bosideng International Holdings Ltd. 34,000   $18,972
Burberry Group PLC 6,803   218,334
Cie Financiere Richemont SA, Class A 9,408   1,510,942
Ermenegildo Zegna NV 2,694   36,746
F&F Co. Ltd. 165   17,754
FF Group (a)(d)** 1,860  
Gildan Activewear, Inc. 3,500   116,119
Hermes International 567   1,150,385
Kering SA 1,339   875,171
Li Ning Co. Ltd. 23,819   187,309
LPP SA 12   26,695
LVMH Moet Hennessy Louis Vuitton SE 4,982   4,581,242
Moncler SpA 3,638   251,734
Page Industries Ltd. 66   30,488
Pandora AS 1,594   153,291
Shenzhou International Group Holdings Ltd. 8,600   90,215
Swatch Group AG 1,408   233,216
Titan Co. Ltd. 3,675   112,875
      10,302,606
Application Software - 0.4%
Beijing Kingsoft Office Software, Inc., Class A 192   13,228
Constellation Software, Inc. 360   675,899
Dassault Systemes SE 11,887   491,233
Descartes Systems Group, Inc. (a) 1,500   120,900
Hundsun Technologies, Inc., Class A 1,456   11,291
Iflytek Co. Ltd., Class A 1,500   13,908
Kaleyra, Inc. (a) 491   810
Kingdee International Software Group Co. Ltd. (a) 26,000   41,999
NavInfo Co. Ltd., Class A 4,600   9,072
Nemetschek SE 985   68,118
Nice Ltd. (a) 1,126   256,177
Open Text Corp. 4,800   184,892
Sage Group PLC 17,970   172,846
SAP SE 18,805   2,378,786
Sapiens International Corp. NV 1,451   31,516
Shanghai Baosight Software Co. Ltd., Class B 5,200   17,194
Shanghai Baosight Software Co. Ltd., Class A 1,560   13,230
Temenos AG 1,235   86,070
Thunder Software Technology Co. Ltd., Class A 500   7,896
WiseTech Global Ltd. 2,875   126,901
Xero Ltd. (a) 2,375   144,327
Yonyou Network Technology Co. Ltd., Class A 2,600   9,540
      4,875,833
Asset Management & Custody Banks - 0.2%
3i Group PLC 17,310   361,634
Abrdn PLC 39,513   99,679
Amundi SA (e) 1,292   81,554
Brookfield Asset Management Ltd., Class A 6,225   203,629
Brookfield Corp. 25,305   823,275
China Cinda Asset Management Co. Ltd., Class H 91,556   11,572
EQT AB 6,990   142,917
  Number
of Shares
  Fair
Value
Hargreaves Lansdown PLC 7,496   $74,430
IGM Financial, Inc. 1,677   50,049
Julius Baer Group Ltd. 3,792   259,422
Onex Corp. 1,400   65,358
Partners Group Holding AG 404   381,039
Reinet Investments SCA 1,466   30,164
Schroders PLC 17,221   98,429
St. James's Place PLC 9,563   143,829
      2,826,980
Automobile Manufacturers - 0.6%
Astra International Tbk PT 217,700   87,230
Bayerische Motoren Werke AG 5,913   649,222
BYD Co. Ltd., Class H 8,500   250,036
BYD Co. Ltd., Class A 1,200   44,736
Cenntro Electric Group Ltd. (a) 6,503   3,003
Chongqing Changan Automobile Co. Ltd., Class A 5,014   8,727
Dongfeng Motor Group Co. Ltd., Class H 30,000   14,093
Ferrari NV 2,251   611,081
Ford Otomotiv Sanayi AS 501   15,288
Geely Automobile Holdings Ltd. 62,000   79,894
Great Wall Motor Co. Ltd., Class H 32,533   40,254
Great Wall Motor Co. Ltd., Class A 800   3,264
Guangzhou Automobile Group Co. Ltd., Class H 38,000   24,012
Honda Motor Co. Ltd. 29,400   775,824
Hyundai Motor Co. 1,406   200,035
Isuzu Motors Ltd. 11,400   135,919
Kia Corp. 2,738   170,873
Li Auto, Inc., Class A (a) 11,400   142,568
Mahindra & Mahindra Ltd. 8,808   124,470
Maruti Suzuki India Ltd. 1,223   123,680
Mazda Motor Corp. 11,100   102,144
Mercedes-Benz Group AG 14,431   1,111,779
NIO, Inc. ADR (a) 13,823   145,280
Nissan Motor Co. Ltd. 40,800   154,046
Renault SA (a) 3,374   137,758
SAIC Motor Corp. Ltd., Class A 5,000   10,471
Subaru Corp. 10,800   171,999
Suzuki Motor Corp. 6,500   236,153
Tata Motors Ltd. (a) 16,808   86,597
Toyota Motor Corp. 191,000   2,712,526
Volkswagen AG 575   98,804
Volvo Car AB, Class B (a) 13,563   59,388
XPeng, Inc., Class A (a) 8,600   47,737
      8,578,891
Automotive Parts & Equipment - 0.1%
Aisin Corp. 2,500   68,743
Bharat Forge Ltd. 2,844   26,736
Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A 300   5,251
Continental AG 1,933   145,099
Denso Corp. 7,700   433,616
Fuyao Glass Industry Group Co. Ltd., Class H (e) 6,156   26,842
Fuyao Glass Industry Group Co. Ltd., Class A 900   4,557
Hanon Systems 2,623   17,749
 
See Notes to Schedule of Investments.
64 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Huayu Automotive Systems Co. Ltd., Class A 1,768   $4,309
Huizhou Desay Sv Automotive Co. Ltd., Class A 200   3,230
Hyundai Mobis Co. Ltd. 622   103,308
Koito Manufacturing Co. Ltd. 3,600   68,081
Magna International, Inc. 4,835   258,622
Minth Group Ltd. 8,000   24,281
Ningbo Tuopu Group Co. Ltd., Class A 800   7,502
Samvardhana Motherson International Ltd. 21,442   17,566
Sumitomo Electric Industries Ltd. 12,566   161,052
Tube Investments of India Ltd. 1,000   31,071
Valeo SA 3,561   73,202
      1,480,817
Automotive Retail - 0.0% *
Abu Dhabi National Oil Co. for Distribution PJSC 31,683   36,061
China Meidong Auto Holdings Ltd. 6,000   12,941
Hotai Motor Co. Ltd. 2,863   60,424
PTT Oil & Retail Business PCL NVDR 30,408   18,960
USS Co. Ltd. 3,500   60,580
Vibra Energia SA 11,600   32,968
Zhongsheng Group Holdings Ltd. 6,500   32,028
      253,962
Biotechnology - 0.1%
3SBio, Inc. (e) 15,000   14,928
Affimed NV (a) 4,703   3,507
Argenx SE (a) 985   366,443
Aurinia Pharmaceuticals, Inc. (a) 5,958   65,300
BeiGene Ltd. (a) 6,200   103,196
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A 80   1,353
BGI Genomics Co. Ltd., Class A 800   8,041
Celltrion, Inc. 1,037   119,865
Chongqing Zhifei Biological Products Co. Ltd., Class A 800   9,565
Genmab AS (a) 1,174   444,607
Grifols SA (a) 6,316   62,630
Hualan Biological Engineering, Inc., Class A 2,038   6,496
Imeik Technology Development Co. Ltd., Class A 100   8,140
Innovent Biologics, Inc. (a)(e) 10,500   47,097
PharmaEssentia Corp. (a) 1,000   14,073
Prothena Corp. PLC (a) 1,785   86,519
Shanghai RAAS Blood Products Co. Ltd., Class A 5,500   5,150
Shenzhen Kangtai Biological Products Co. Ltd., Class A 800   3,687
SK Bioscience Co. Ltd. (a) 266   14,804
Swedish Orphan Biovitrum AB (a) 3,558   82,979
Walvax Biotechnology Co. Ltd., Class A 1,400   7,025
Zai Lab Ltd. ADR (a) 900   29,934
      1,505,339
  Number
of Shares
  Fair
Value
Brewers - 0.2%
Ambev SA 47,800   $135,097
Anheuser-Busch InBev SA 15,538   1,037,623
Asahi Group Holdings Ltd. 8,100   300,752
Budweiser Brewing Co. APAC Ltd. (e) 29,900   90,995
Carlsberg AS, Class B 1,726   268,318
China Resources Beer Holdings Co. Ltd. 16,000   128,534
Chongqing Brewery Co. Ltd., Class A 100   1,822
Cia Cervecerias Unidas SA 1,321   10,215
Heineken Holding NV 2,034   186,951
Heineken NV 4,623   497,638
Kirin Holdings Co. Ltd. 14,600   230,437
Tsingtao Brewery Co. Ltd., Class H 6,924   75,680
Tsingtao Brewery Co. Ltd., Class A 800   14,049
      2,978,111
Broadcasting - 0.0% *
Vivendi SE 14,147   143,305
Broadline Retail - 0.4%
Alibaba Group Holding Ltd. (a) 150,100   1,901,078
Allegro.eu SA (a)(e) 3,775   25,826
Canadian Tire Corp. Ltd., Class A 1,000   130,321
Central Retail Corp. PCL NVDR 21,416   28,110
Dollarama, Inc. 5,000   298,408
Falabella SA 8,186   18,927
JD.com, Inc., Class A 21,826   476,594
Lotte Shopping Co. Ltd. 146   9,213
Magazine Luiza SA (a) 37,124   24,236
momo.com, Inc. 1,000   29,791
Naspers Ltd., Class N 2,204   409,827
Next PLC 2,284   186,072
Ozon Holdings PLC ADR (a)(d)** 1,300  
Pan Pacific International Holdings Corp. 7,500   144,753
PDD Holdings, Inc. ADR (a) 5,057   383,826
Prosus NV (a) 14,455   1,133,920
Rakuten Group, Inc. 18,300   85,145
Vipshop Holdings Ltd. ADR (a) 4,034   61,236
Wesfarmers Ltd. 20,267   686,327
Woolworths Holdings Ltd. 10,418   37,538
      6,071,148
Building Products - 0.2%
AGC, Inc. 3,800   141,332
Assa Abloy AB, Class B 17,864   428,277
Beijing New Building Materials PLC, Class A 1,600   6,246
China Lesso Group Holdings Ltd. 16,494   14,738
Cie de Saint-Gobain 8,740   497,706
Daikin Industries Ltd. 4,500   805,419
Geberit AG 638   356,835
Guangdong Kinlong Hardware Products Co. Ltd., Class A 200   2,337
Kingspan Group PLC 2,727   187,204
Lixil Corp. 5,000   82,334
Nibe Industrier AB, Class B 26,914   307,076
ROCKWOOL AS, Class B 176   43,239
TOTO Ltd. 2,500   83,561
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 65

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Xinyi Glass Holdings Ltd. 31,000   $55,455
      3,011,759
Cable & Satellite - 0.0% *
Cyfrowy Polsat SA 3,840   14,950
Grupo Televisa SAB 24,100   25,453
MultiChoice Group 3,711   25,802
Quebecor, Inc., Class B 2,700   66,655
Shaw Communications, Inc., Class B 8,500   253,992
      386,852
Cargo Ground Transportation - 0.0% *
TFI International, Inc. 1,400   166,829
Casinos & Gaming - 0.2%
Aristocrat Leisure Ltd. 10,529   263,763
Entain PLC 10,370   161,419
Evolution AB (e) 3,257   436,765
Flutter Entertainment PLC (a) 2,982   543,614
Galaxy Entertainment Group Ltd. (a) 39,000   260,876
Genting Bhd 24,200   25,615
Genting Malaysia Bhd 30,500   18,352
Genting Singapore Ltd. 104,800   88,535
Kangwon Land, Inc. 1,128   17,302
La Francaise des Jeux SAEM (e) 2,197   91,730
Lottery Corp. Ltd. 43,739   150,727
NEOGAMES SA (a) 654   9,941
OPAP SA 2,024   32,521
Sands China Ltd. (a) 42,800   148,686
      2,249,846
Coal & Consumable Fuels - 0.1%
Adaro Energy Indonesia Tbk PT 172,900   33,516
Banpu PCL NVDR 81,000   25,622
Cameco Corp. 7,600   198,739
China Coal Energy Co. Ltd., Class H 22,000   16,695
China Shenhua Energy Co. Ltd., Class H 35,990   113,257
China Shenhua Energy Co. Ltd., Class A 3,800   15,580
Coal India Ltd. 15,043   39,214
Exxaro Resources Ltd. 2,356   24,712
Inner Mongolia Yitai Coal Co. Ltd., Class B 11,400   16,756
Shaanxi Coal Industry Co. Ltd., Class A 6,500   19,251
Shanxi Coking Coal Energy Group Co. Ltd., Class A 3,800   6,084
United Tractors Tbk PT 17,600   34,204
Washington H Soul Pattinson & Co. Ltd. 3,727   75,681
Yankuang Energy Group Co. Ltd., Class H 16,000   57,287
Yankuang Energy Group Co. Ltd., Class A 2,300   11,925
      688,523
Commercial Printing - 0.0% *
Cimpress PLC (a) 798   34,968
Dai Nippon Printing Co. Ltd. 4,300   120,109
TOPPAN, Inc. 4,500   90,471
      245,548
  Number
of Shares
  Fair
Value
Commodity Chemicals - 0.2%
Advanced Petrochemical Co. 1,510   $19,302
Asahi Kasei Corp. 22,100   154,425
Barito Pacific Tbk PT 342,922   18,908
Berger Paints India Ltd. 2,928   20,765
Canmax Technologies Co. Ltd., Class A 400   2,989
Do-Fluoride New Materials Co. Ltd., Class A 400   1,935
Formosa Chemicals & Fibre Corp. 32,000   72,629
Formosa Plastics Corp. 42,000   126,798
Guangzhou Tinci Materials Technology Co. Ltd., Class A 1,860   11,382
Hanwha Solutions Corp. (a) 1,163   47,973
Hengli Petrochemical Co. Ltd., Class A 4,300   10,152
Hengyi Petrochemical Co. Ltd., Class A 4,700   5,557
Huafon Chemical Co. Ltd., Class A 4,900   5,328
Hubei Xingfa Chemicals Group Co. Ltd., Class A 600   2,664
Indorama Ventures PCL NVDR 18,695   18,890
Inner Mongolia Yuan Xing Energy Co. Ltd., Class A 2,700   3,393
Jiangsu Eastern Shenghong Co. Ltd., Class A 3,800   7,528
Kumho Petrochemical Co. Ltd. 189   20,906
LB Group Co. Ltd., Class A 2,100   6,185
LG Chem Ltd. 500   274,597
Lotte Chemical Corp. 208   30,558
Mesaieed Petrochemical Holding Co. 39,418   20,877
Mitsui Chemicals, Inc. 3,600   92,734
Nan Ya Plastics Corp. 46,000   117,176
National Industrialization Co. (a) 3,399   11,124
Orbia Advance Corp. SAB de CV 10,200   22,133
Orica Ltd. 7,829   81,034
Orion Engineered Carbons SA 2,679   69,895
Petronas Chemicals Group Bhd 25,400   40,818
PTT Global Chemical PCL NVDR 22,838   30,624
Rongsheng Petrochemical Co. Ltd., Class A 5,350   11,798
Sahara International Petrochemical Co. 4,092   41,521
Sasa Polyester Sanayi AS (a) 2,500   13,076
Satellite Chemical Co. Ltd., Class A 3,525   8,207
Saudi Basic Industries Corp. 9,110   219,839
Saudi Industrial Investment Group 4,178   27,896
Saudi Kayan Petrochemical Co. (a) 7,440   24,070
Shenzhen Senior Technology Material Co. Ltd., Class A 599   1,682
Sinoma Science & Technology Co. Ltd., Class A 2,800   9,851
SKC Co. Ltd. 278   24,570
Skshu Paint Co. Ltd., Class A (a) 400   6,780
Tongkun Group Co. Ltd., Class A 3,400   7,111
Toray Industries, Inc. 24,300   138,685
 
See Notes to Schedule of Investments.
66 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Tosoh Corp. 4,482   $60,764
Yanbu National Petrochemical Co. 2,801   31,566
Yunnan Energy New Material Co. Ltd., Class A 500   8,302
      1,984,997
Communications Equipment - 0.1%
Accton Technology Corp. 5,000   52,551
BYD Electronic International Co. Ltd. 7,020   21,847
Nokia Oyj 96,473   474,426
Telefonaktiebolaget LM Ericsson, Class B 51,830   304,095
Tianjin 712 Communication & Broadcasting Co. Ltd., Class A 500   2,254
Yealink Network Technology Corp. Ltd., Class A 1,100   12,198
ZTE Corp., Class H 10,000   29,309
ZTE Corp., Class A 2,400   11,382
      908,062
Computer & Electronics Retail - 0.0% *
Hikari Tsushin, Inc. 400   56,078
Construction & Engineering - 0.2%
ACS Actividades de Construccion y Servicios SA 4,243   135,381
Bouygues SA 4,415   149,168
China Communications Services Corp. Ltd., Class H 17,733   8,726
China Conch Venture Holdings Ltd. 17,000   29,771
China Energy Engineering Corp. Ltd. Class A 34,900   12,253
China National Chemical Engineering Co. Ltd., Class A 600   811
China Railway Group Ltd., Class H 40,000   24,409
China Railway Group Ltd., Class A 8,800   8,813
China State Construction Engineering Corp. Ltd., Class A 23,400   19,743
China State Construction International Holdings Ltd. 20,000   22,626
Eiffage SA 1,468   159,147
Ferrovial SA 8,643   254,971
Gamuda Bhd 18,500   17,141
Hyundai Engineering & Construction Co. Ltd. 544   15,299
Kajima Corp. 8,200   98,719
Larsen & Toubro Ltd. 6,969   183,956
Metallurgical Corp. of China Ltd., Class A 1,300   738
Obayashi Corp. 11,300   86,268
Power Construction Corp. of China Ltd., Class A 7,600   7,886
Samsung Engineering Co. Ltd. (a) 1,427   34,875
Shimizu Corp. 9,400   53,146
Skanska AB, Class B 6,645   101,872
Taisei Corp. 3,100   95,684
Vinci SA 9,632   1,106,220
WSP Global, Inc. 2,200   287,779
      2,915,402
  Number
of Shares
  Fair
Value
Construction Machinery & Heavy Transportation Equipment - 0.2%
Alstom SA 5,627   $153,478
China CSSC Holdings Ltd., Class A 2,700   9,222
CRRC Corp. Ltd., Class H 56,000   30,567
CRRC Corp. Ltd., Class A 14,800   13,200
Daimler Truck Holding AG (a) 8,034   271,627
Doosan Bobcat, Inc. 635   21,357
Epiroc AB, Class A 11,666   231,781
Epiroc AB, Class B 6,811   116,236
Hitachi Construction Machinery Co. Ltd. 2,300   53,480
Hyundai Heavy Industries Co. Ltd. (a) 176   13,605
Knorr-Bremse AG 1,408   93,957
Komatsu Ltd. 16,500   408,645
Korea Shipbuilding & Offshore Engineering Co. Ltd. (a) 430   25,714
Metso Outotec Oyj 13,008   142,295
Samsung Heavy Industries Co. Ltd. (a) 6,235   24,859
Sany Heavy Equipment International Holdings Co. Ltd. 11,000   11,433
Sany Heavy Industry Co. Ltd., Class A 5,300   13,179
Sembcorp Marine Ltd. (a) 793,989   71,327
Toyota Industries Corp. 2,600   144,506
Volvo AB, Class B 26,928   555,401
Volvo AB, Class A 4,201   90,445
Weichai Power Co. Ltd., Class H 22,401   35,945
Weichai Power Co. Ltd., Class A 7,800   14,334
XCMG Construction Machinery Co. Ltd., Class A 9,300   9,388
Zhuzhou CRRC Times Electric Co. Ltd. 6,600   28,716
Zoomlion Heavy Industry Science & Technology Co. Ltd., Class A 8,700   7,871
      2,592,568
Construction Materials - 0.1%
ACC Ltd. 514   10,461
Ambuja Cements Ltd. (a) 5,641   25,186
Anhui Conch Cement Co. Ltd., Class H 12,081   41,869
Anhui Conch Cement Co. Ltd., Class A 2,769   11,386
Asia Cement Corp. 22,000   31,327
Cemex SAB de CV (a) 153,400   84,023
China Jushi Co. Ltd., Class A 4,114   8,755
China National Building Material Co. Ltd., Class H 37,243   30,611
China Resources Cement Holdings Ltd. 26,000   12,767
CRH PLC 13,347   675,507
Grasim Industries Ltd. 2,484   49,444
HeidelbergCement AG 2,555   186,894
POSCO Chemical Co. Ltd. 287   60,491
Semen Indonesia Persero Tbk PT 43,992   18,521
Shree Cement Ltd. 102   32,573
Siam Cement PCL NVDR 8,265   76,244
Taiwan Cement Corp. 61,595   73,668
UltraTech Cement Ltd. 1,052   97,755
      1,527,482
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 67

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Consumer Electronics - 0.2%
LG Electronics, Inc. 1,122   $100,132
Panasonic Holdings Corp. 39,300   350,789
Sharp Corp. 4,300   30,331
Sony Group Corp. 22,700   2,062,699
TCL Technology Group Corp., Class A 13,027   8,400
      2,552,351
Consumer Finance - 0.0% *
360 DigiTech, Inc. ADR 1,100   21,340
Bajaj Finance Ltd. 2,758   189,239
Cholamandalam Investment & Finance Co. Ltd. 4,331   40,242
JMT Network Services PCL 7,000   9,519
Krungthai Card PCL NVDR 9,465   15,036
Lufax Holding Ltd. ADR 5,600   11,424
Muangthai Capital PCL NVDR 7,500   7,596
Muthoot Finance Ltd. 1,370   16,383
SBI Cards & Payment Services Ltd. 1,967   17,753
Shriram Finance Ltd. 1,784   27,426
Srisawad Corp. PCL NVDR 7,200   11,142
      367,100
Consumer Staples Merchandise Retail - 0.1%
Aeon Co. Ltd. 11,575   224,033
Atacadao SA 6,800   16,617
Berli Jucker PCL NVDR 12,600   14,125
Carrefour SA 10,499   212,646
Cencosud SA 16,738   32,518
E-MART, Inc. 218   17,730
Sendas Distribuidora SA 5,100   15,631
Wal-Mart de Mexico SAB de CV 52,986   211,375
      744,675
Copper - 0.1%
Antofagasta PLC 7,742   151,997
First Quantum Minerals Ltd. 10,400   238,762
Jiangxi Copper Co. Ltd., Class H 14,782   25,026
Jiangxi Copper Co. Ltd., Class A 300   864
KGHM Polska Miedz SA 1,470   41,834
Lundin Mining Corp. 12,600   85,468
Southern Copper Corp. 1,690   128,862
      672,813
Data Processing & Outsourced Services - 0.0% *
Teleperformance 1,048   253,688
Distillers & Vintners - 0.3%
Anhui Gujing Distillery Co. Ltd., Class B 1,100   19,642
Anhui Gujing Distillery Co. Ltd., Class A 400   17,213
Davide Campari-Milano NV 10,200   124,682
Diageo PLC 40,958   1,832,164
Jiangsu King's Luck Brewery JSC Ltd., Class A 1,400   13,219
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A 1,000   24,020
JiuGui Liquor Co. Ltd., Class A 400   7,522
Kweichow Moutai Co. Ltd., Class A 800   211,468
  Number
of Shares
  Fair
Value
Luzhou Laojiao Co. Ltd., Class A 1,000   $36,955
Pernod Ricard SA 3,689   836,805
Remy Cointreau SA 487   88,834
Shanghai Bairun Investment Holding Group Co. Ltd., Class A 980   5,836
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A 740   29,282
Sichuan Swellfun Co. Ltd., Class A 600   6,578
Treasury Wine Estates Ltd. 12,604   110,863
United Spirits Ltd. (a) 2,942   27,147
Wuliangye Yibin Co. Ltd., Class A 2,400   68,614
      3,460,844
Distributors - 0.0% *
D'ieteren Group 483   94,152
Diversified Banks - 3.1%
ABN AMRO Bank NV GDR (e) 7,921   125,833
Absa Group Ltd. 8,581   88,018
Abu Dhabi Commercial Bank PJSC 29,636   67,069
Abu Dhabi Islamic Bank PJSC 15,726   42,772
Agricultural Bank of China Ltd., Class H 312,717   115,806
Agricultural Bank of China Ltd., Class A 46,247   20,954
AIB Group PLC 18,496   74,998
Akbank TAS 26,916   23,797
Al Rajhi Bank 19,839   390,551
Alinma Bank 10,599   83,579
Alpha Services & Holdings SA (a) 26,430   32,542
AMMB Holdings Bhd 19,100   16,274
ANZ Group Holdings Ltd. 53,480   825,736
Arab National Bank 6,252   43,164
Axis Bank Ltd. 23,007   241,039
Banco Bilbao Vizcaya Argentaria SA 107,788   772,001
Banco Bradesco SA 15,267   35,681
Banco de Chile 464,278   45,335
Banco de Credito e Inversiones SA 604   17,801
Banco del Bajio SA (e) 4,000   14,533
Banco do Brasil SA 8,700   67,108
Banco Santander Brasil SA 3,200   16,914
Banco Santander Chile 774,790   34,545
Banco Santander SA 300,552   1,122,015
Bancolombia SA 3,348   25,142
Bank AlBilad 5,171   55,183
Bank Al-Jazira 3,780   18,423
Bank Central Asia Tbk PT 566,600   331,486
Bank Hapoalim BM 22,444   186,554
Bank Leumi Le-Israel BM 27,331   206,492
Bank Mandiri Persero Tbk PT 190,700   131,325
Bank Negara Indonesia Persero Tbk PT 78,300   48,995
Bank of Beijing Co. Ltd., Class A 9,700   6,220
Bank of China Ltd., Class H 803,868   308,174
Bank of China Ltd., Class A 12,294   6,050
Bank of Communications Co. Ltd., Class H 86,127   54,165
Bank of Communications Co. Ltd., Class A 25,700   19,130
Bank of Ireland Group PLC 18,928   191,863
 
See Notes to Schedule of Investments.
68 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Bank of Montreal 12,165   $1,082,072
Bank of Nova Scotia 21,500   1,081,394
Bank of NT Butterfield & Son Ltd. 2,199   59,373
Bank of Shanghai Co. Ltd., Class A 6,100   5,324
Bank of the Philippine Islands 19,994   37,802
Bank Polska Kasa Opieki SA 1,929   38,449
Bank Rakyat Indonesia Persero Tbk PT 696,609   220,722
Banque Saudi Fransi 6,105   59,227
Barclays PLC 282,814   510,214
BDO Unibank, Inc. 24,672   58,514
BNP Paribas SA 20,032   1,198,412
BOC Hong Kong Holdings Ltd. 65,500   203,917
Boubyan Bank KSCP 13,365   28,032
CaixaBank SA 78,832   308,152
Canadian Imperial Bank of Commerce 16,200   686,018
Capitec Bank Holdings Ltd. 881   83,802
Chang Hwa Commercial Bank Ltd. 55,317   31,580
China CITIC Bank Corp. Ltd., Class H 97,881   49,240
China Common Rich Renewable Energy Investments Ltd. (d) 64,000  
China Construction Bank Corp., Class H 973,000   629,717
China Construction Bank Corp., Class A 7,400   6,402
China Everbright Bank Co. Ltd., Class H 46,883   14,222
China Everbright Bank Co. Ltd., Class A 30,820   13,509
China Merchants Bank Co. Ltd., Class H 39,500   200,580
China Merchants Bank Co. Ltd., Class A 12,700   63,290
China Minsheng Banking Corp. Ltd., Class H 65,200   22,340
China Minsheng Banking Corp. Ltd., Class A 20,500   10,306
China Zheshang Bank Co. Ltd., Class A (a) 17,800   7,419
CIMB Group Holdings Bhd 66,094   79,653
Commercial Bank PSQC 33,478   53,630
Commercial International Bank Egypt SAE 24,801   41,049
Commerzbank AG (a) 18,827   198,571
Commonwealth Bank of Australia 30,524   2,019,283
Credicorp Ltd. 700   92,673
Credit Agricole SA 21,571   243,784
CTBC Financial Holding Co. Ltd. 174,000   125,303
Danske Bank AS (a) 12,236   246,633
DBS Group Holdings Ltd. 32,410   806,526
DNB Bank ASA 16,526   295,652
Dubai Islamic Bank PJSC 29,316   41,853
E.Sun Financial Holding Co. Ltd. 130,897   109,007
Emirates NBD Bank PJSC 19,181   68,639
Erste Group Bank AG 6,081   201,822
Eurobank Ergasias Services & Holdings SA (a) 26,278   34,880
FinecoBank Banca Fineco SpA 10,751   165,013
First Abu Dhabi Bank PJSC 44,729   157,098
  Number
of Shares
  Fair
Value
First Financial Holding Co. Ltd. 109,603   $95,397
First International Bank Of Israel Ltd. 905   31,994
Grupo Financiero Banorte SAB de CV, Class O 26,300   221,254
Grupo Financiero Inbursa SAB de CV, Class O (a) 21,800   46,785
Haci Omer Sabanci Holding AS 10,484   21,666
Hana Financial Group, Inc. 2,984   93,456
Hang Seng Bank Ltd. 13,500   191,906
Hong Leong Bank Bhd 6,600   30,273
Hong Leong Financial Group Bhd 2,087   8,506
HSBC Holdings PLC 359,592   2,449,613
Hua Nan Financial Holdings Co. Ltd. 96,089   70,688
Huaxia Bank Co. Ltd., Class A 400   314
ICICI Bank Ltd. 52,148   557,277
Industrial & Commercial Bank of China Ltd., Class H 571,505   303,718
Industrial & Commercial Bank of China Ltd., Class A 39,300   25,534
Industrial Bank Co. Ltd., Class A 13,400   33,006
Industrial Bank of Korea 2,926   22,756
ING Groep NV 66,624   792,605
Intesa Sanpaolo SpA 288,465   741,659
Israel Discount Bank Ltd., Class A 21,602   105,980
Japan Post Bank Co. Ltd. 26,100   212,666
KakaoBank Corp. 1,198   22,391
Kasikornbank PCL 5,700   22,087
KB Financial Group, Inc. 3,932   143,605
KBC Group NV 4,444   305,900
Komercni Banka AS 769   25,553
Kotak Mahindra Bank Ltd. 5,755   121,643
Krung Thai Bank PCL NVDR 35,377   17,083
Kuwait Finance House KSCP 74,715   202,155
Lloyds Banking Group PLC 1,202,232   708,482
Malayan Banking Bhd 46,589   90,548
Masraf Al Rayan QSC 59,555   48,604
mBank SA (a) 151   10,791
Mediobanca Banca di Credito Finanziario SpA 11,609   116,868
Mega Financial Holding Co. Ltd. 114,057   123,614
Metropolitan Bank & Trust Co. 18,910   20,395
Mitsubishi UFJ Financial Group, Inc. 215,500   1,377,799
Mizrahi Tefahot Bank Ltd. 2,675   83,752
Mizuho Financial Group, Inc. 43,100   609,177
Moneta Money Bank AS (e) 3,392   13,633
National Australia Bank Ltd. 56,413   1,053,208
National Bank of Canada 6,000   428,581
National Bank of Greece SA (a) 3,839   18,726
National Bank of Kuwait SAKP 73,696   254,244
NatWest Group PLC 94,477   308,993
Nedbank Group Ltd. 4,660   56,955
Nordea Bank Abp 59,108   631,748
OTP Bank Nyrt 2,162   61,770
Oversea-Chinese Banking Corp. Ltd. 60,430   563,845
Ping An Bank Co. Ltd., Class A 10,900   19,876
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 69

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Postal Savings Bank of China Co. Ltd., Class H (e) 82,675   $49,031
Postal Savings Bank of China Co. Ltd., Class A 15,100   10,231
Powszechna Kasa Oszczednosci Bank Polski SA 8,937   59,428
Public Bank Bhd 143,400   130,137
Qatar International Islamic Bank QSC 7,278   19,822
Qatar Islamic Bank SAQ 17,670   86,604
Qatar National Bank QPSC 47,168   208,395
RHB Bank Bhd 14,957   18,924
Riyad Bank 13,938   110,953
Royal Bank of Canada 24,912   2,379,189
Santander Bank Polska SA 358   24,295
Saudi British Bank 9,570   90,168
Saudi Investment Bank 4,339   19,264
Saudi National Bank 22,210   271,978
Sberbank of Russia PJSC (a)(d)** 192,160  
SCB X PCL NVDR 8,496   25,527
Shanghai Commercial & Savings Bank Ltd. 37,565   57,979
Shanghai Pudong Development Bank Co. Ltd., Class A 14,200   14,871
Shinhan Financial Group Co. Ltd. 4,708   127,894
SinoPac Financial Holdings Co. Ltd. 104,864   57,334
Skandinaviska Enskilda Banken AB, Class A (a) 28,730   317,418
Societe Generale SA 14,363   324,200
Standard Bank Group Ltd. 13,589   132,221
Standard Chartered PLC 43,775   332,540
State Bank of India 17,537   112,106
Sumitomo Mitsui Financial Group, Inc. 23,400   934,195
Sumitomo Mitsui Trust Holdings, Inc. 5,900   202,220
Svenska Handelsbanken AB, Class A 25,859   224,165
Swedbank AB, Class A 16,082   264,703
Taishin Financial Holding Co. Ltd. 112,244   61,424
Taiwan Business Bank 32,000   14,173
Taiwan Cooperative Financial Holding Co. Ltd. 102,207   87,769
TCS Group Holding PLC GDR (a)(d)** 2,171  
Toronto-Dominion Bank 32,697   1,955,756
Turkiye Is Bankasi AS, Class C 41,723   28,224
UniCredit SpA 34,315   647,927
United Overseas Bank Ltd. 21,000   471,453
VTB Bank PJSC (a)(d)** 70,264,000  
Westpac Banking Corp. 62,618   913,467
Woori Financial Group, Inc. 5,527   48,619
Yes Bank Ltd. (a) 116,408   21,377
      41,973,425
Diversified Capital Markets - 0.2%
Banco BTG Pactual SA 11,908   46,150
Credit Suisse Group AG 71,169   64,009
Deutsche Bank AG 36,808   374,981
Macquarie Group Ltd. 6,563   778,569
Mirae Asset Securities Co. Ltd. 3,109   15,487
  Number
of Shares
  Fair
Value
UBS Group AG 59,945   $1,270,427
      2,549,623
Diversified Chemicals - 0.1%
BASF SE 16,422   863,683
Mitsubishi Chemical Group Corp. 25,100   148,928
Ningxia Baofeng Energy Group Co. Ltd., Class A 3,000   6,451
Nissan Chemical Corp. 2,200   99,681
Pidilite Industries Ltd. 1,421   40,762
Sasol Ltd. 5,864   79,523
Solvay SA 1,303   149,287
SRF Ltd. 1,362   40,083
Sumitomo Chemical Co. Ltd. 25,800   86,663
      1,515,061
Diversified Financial Services - 0.1%
Bajaj Finserv Ltd. 3,866   59,816
FirstRand Ltd. 51,101   173,812
Housing Development Finance Corp. Ltd. 17,461   559,940
M&G PLC 43,486   106,832
Meritz Financial Group, Inc. 501   14,925
ORIX Corp. 21,300   350,364
Yuanta Financial Holding Co. Ltd. 101,240   74,450
      1,340,139
Diversified Metals & Mining - 0.6%
African Rainbow Minerals Ltd. 1,352   17,577
Anglo American PLC 22,709   757,081
BHP Group Ltd. 91,216   2,889,305
Boliden AB 4,831   189,955
China Northern Rare Earth Group High-Tech Co. Ltd., Class A 2,000   7,604
China Rare Earth Resources & Technology Co. Ltd., Class A (a) 500   2,459
CMOC Group Ltd., Class H 30,000   18,160
CMOC Group Ltd., Class A 11,000   9,586
GEM Co. Ltd., Class A 7,800   8,495
Glencore PLC 184,289   1,062,889
Grupo Mexico SAB de CV Series B 31,542   149,063
Henan Shenhuo Coal & Power Co. Ltd., Class A 4,000   10,300
IGO Ltd. 13,317   114,417
Ivanhoe Mines Ltd., Class A (a) 11,800   106,460
Korea Zinc Co. Ltd. 86   36,590
Merdeka Copper Gold Tbk PT (a) 138,993   38,924
Mineral Resources Ltd. 3,007   162,865
MMC Norilsk Nickel PJSC ADR (a)(d)** 8,131  
MMC Norilsk Nickel PJSC (d)** 305  
Pilbara Minerals Ltd. 49,954   133,156
PolyMet Mining Corp. (a) 3,670   6,407
Rio Tinto Ltd. 6,623   533,191
Rio Tinto PLC 20,273   1,379,269
Saudi Arabian Mining Co. (a) 8,718   149,623
Shenghe Resources Holding Co. Ltd., Class A 3,500   7,219
Sinomine Resource Group Co. Ltd., Class A 800   8,202
South32 Ltd. 81,220   238,497
 
See Notes to Schedule of Investments.
70 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Sumitomo Metal Mining Co. Ltd. 4,400   $167,963
Teck Resources Ltd., Class B 8,100   295,367
Tibet Summit Resources Co. Ltd., Class A (a) 500   1,669
Vale Indonesia Tbk PT (a) 23,800   10,575
Vedanta Ltd. 6,580   22,042
Western Mining Co. Ltd., Class A 1,400   2,579
Youngy Co. Ltd., Class A (a) 200   2,211
Yunnan Tin Co. Ltd., Class A 1,000   2,160
Zhejiang Huayou Cobalt Co. Ltd., Class A 1,530   12,268
      8,554,128
Diversified Real Estate Activities - 0.1%
Aldar Properties PJSC 38,997   49,455
Ayala Land, Inc. 76,100   37,297
Barwa Real Estate Co. 11,838   8,499
City Developments Ltd. 8,300   46,100
Daito Trust Construction Co. Ltd. 1,200   119,273
Daiwa House Industry Co. Ltd. 10,600   249,158
DLF Ltd. 5,050   22,005
ESR Group Ltd. (e) 34,000   60,971
Lendlease Corp. Ltd. 11,752   57,304
Mitsubishi Estate Co. Ltd. 20,000   237,330
Mitsui Fudosan Co. Ltd. 16,100   301,713
New World Development Co. Ltd. 26,000   69,695
Nomura Real Estate Holdings, Inc. 2,396   52,931
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B 10,400   8,039
Sumitomo Realty & Development Co. Ltd. 6,100   137,421
Sun Hung Kai Properties Ltd. 26,000   364,247
Swire Pacific Ltd., Class A 9,500   73,007
UOL Group Ltd. 7,700   40,242
      1,934,687
Diversified REITs - 0.1%
British Land Co. PLC 15,194   73,049
Daiwa House REIT Investment Corp. 38   77,678
Fibra Uno Administracion SA de CV 32,000   44,608
GPT Group 33,337   95,454
Growthpoint Properties Ltd. 34,726   25,561
Land Securities Group PLC 13,724   105,597
Mirvac Group 68,694   96,401
Nomura Real Estate Master Fund, Inc. 73   81,609
Stockland 41,679   111,825
      711,782
Diversified Support Services - 0.0% *
Brambles Ltd. 24,578   222,032
Indian Railway Catering & Tourism Corp. Ltd. 2,733   19,101
Ritchie Bros Auctioneers, Inc. 3,935   221,170
      462,303
Drug Retail - 0.0% *
Alibaba Health Information Technology Ltd. (a)(c) 42,000   30,291
Clicks Group Ltd. 2,284   33,101
  Number
of Shares
  Fair
Value
JD Health International, Inc. (a)(e) 11,600   $86,013
MatsukiyoCocokara & Co. 2,200   116,262
Ping An Healthcare & Technology Co. Ltd. (a)(e) 3,500   8,813
Raia Drogasil SA 11,200   54,009
Welcia Holdings Co. Ltd. 1,944   41,520
      370,009
Education Services - 0.0% *
East Buy Holding Ltd. (a)(e) 4,000   17,122
IDP Education Ltd. 3,579   66,084
New Oriental Education & Technology Group, Inc. (a) 15,100   57,946
Pearson PLC 12,652   132,708
TAL Education Group ADR (a) 4,600   29,486
      303,346
Electric Utilities - 0.5%
Acciona SA 428   86,028
Adani Transmission Ltd. (a) 2,959   35,801
BKW AG 359   56,532
Centrais Eletricas Brasileiras SA 11,527   75,661
CEZ AS 1,648   80,154
Chubu Electric Power Co., Inc. 11,300   118,926
CK Infrastructure Holdings Ltd. 10,500   57,129
CLP Holdings Ltd. 29,000   209,556
CPFL Energia SA 2,500   15,606
EDP - Energias de Portugal SA 51,983   283,760
Elia Group SA 570   75,407
Emera, Inc. 4,700   192,813
Endesa SA 5,556   120,892
Enel Americas SA 212,573   28,151
Enel Chile SA 175,613   9,631
Enel SpA 145,447   888,669
Energisa SA 2,100   16,642
Equatorial Energia SA 10,243   54,465
Fortis, Inc. 8,556   363,204
Fortum Oyj (a) 8,792   134,923
Hydro One Ltd. (e) 5,798   164,855
Iberdrola SA 110,767   1,382,394
Inter RAO UES PJSC (d)** 467,243  
Interconexion Electrica SA ESP 4,165   13,543
Kansai Electric Power Co., Inc. 13,800   134,079
Korea Electric Power Corp. (a) 2,481   34,383
Manila Electric Co. 2,420   13,869
Mercury NZ Ltd. 14,255   56,416
Origin Energy Ltd. 30,344   169,317
Orsted AS (e) 3,358   286,864
PGE Polska Grupa Energetyczna SA (a) 10,086   14,717
Power Assets Holdings Ltd. 27,000   144,849
Power Grid Corp. of India Ltd. 31,772   87,471
Public Power Corp. SA (a) 2,146   18,712
Red Electrica Corp. SA 7,108   125,299
Saudi Electricity Co. 8,744   54,565
SSE PLC 19,256   430,668
Tata Power Co. Ltd. 13,144   30,545
Tenaga Nasional Bhd 27,000   56,502
Terna - Rete Elettrica Nazionale 24,873   204,509
Tokyo Electric Power Co. Holdings, Inc. (a) 29,700   105,844
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 71

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Verbund AG 1,327   $115,634
      6,548,985
Electrical Components & Equipment - 0.2%
ABB Ltd. 28,116   968,715
Contemporary Amperex Technology Co. Ltd., Class A 1,500   88,846
Ecopro BM Co. Ltd. 560   97,045
Eve Energy Co. Ltd., Class A 900   9,146
Fuji Electric Co. Ltd. 2,200   86,673
Ginlong Technologies Co. Ltd., Class A (a) 300   5,844
Gotion High-tech Co. Ltd., Class A 1,800   7,821
Havells India Ltd. 2,537   36,785
Jiangsu Zhongtian Technology Co. Ltd., Class A 4,400   10,963
Legrand SA 4,756   435,348
LG Energy Solution Ltd. (a) 350   157,693
Nidec Corp. 8,000   415,342
Prysmian SpA 4,496   189,130
Sungrow Power Supply Co. Ltd., Class A 900   13,772
Sunwoda Electronic Co. Ltd., Class A 800   2,350
Suzhou Maxwell Technologies Co. Ltd., Class A 160   7,106
TBEA Co. Ltd., Class A 4,200   13,276
Voltronic Power Technology Corp. 1,000   56,944
Walsin Lihwa Corp. 28,000   45,097
WEG SA 17,546   140,326
Zhejiang Chint Electrics Co. Ltd., Class A 1,800   7,335
      2,795,557
Electronic Components - 0.2%
AUO Corp. 71,200   43,257
Avary Holding Shenzhen Co. Ltd., Class A 2,600   11,765
BOE Technology Group Co. Ltd., Class A 22,800   14,742
Chaozhou Three-Circle Group Co. Ltd., Class A 2,200   9,649
China Zhenhua Group Science & Technology Co. Ltd., Class A 200   2,625
Delta Electronics Thailand PCL NVDR 3,400   114,072
Delta Electronics, Inc. 20,000   198,433
E Ink Holdings, Inc. 9,000   54,933
Guangzhou Shiyuan Electronic Technology Co. Ltd., Class A 800   8,721
Hamamatsu Photonics KK 2,500   134,535
Hirose Electric Co. Ltd. 574   74,917
Ibiden Co. Ltd. 1,900   76,016
Innolux Corp. 95,930   46,026
Kingboard Holdings Ltd. 8,000   24,598
Kingboard Laminates Holdings Ltd. 13,549   14,162
Kyocera Corp. 5,700   296,642
L&F Co. Ltd. 253   61,335
Largan Precision Co. Ltd. 1,000   71,694
Lens Technology Co. Ltd., Class A 4,960   9,758
LG Display Co. Ltd. (a) 2,381   30,241
LG Innotek Co. Ltd. 159   33,344
  Number
of Shares
  Fair
Value
Lingyi iTech Guangdong Co., Class A (a) 8,000   $7,215
Lotte Energy Materials Corp. 276   14,683
Luxshare Precision Industry Co. Ltd., Class A 4,700   20,776
Maxscend Microelectronics Co. Ltd., Class A 128   2,322
Murata Manufacturing Co. Ltd. 10,300   626,250
Nan Ya Printed Circuit Board Corp. 2,000   18,748
Omron Corp. 3,297   192,507
Samsung Electro-Mechanics Co. Ltd. 567   66,946
Samsung SDI Co. Ltd. 557   316,398
Shengyi Technology Co. Ltd., Class A 1,400   3,769
Shennan Circuits Co. Ltd., Class A 800   10,767
Sunny Optical Technology Group Co. Ltd. 7,400   89,293
TDK Corp. 6,900   247,097
Unimicron Technology Corp. 13,000   63,405
Yageo Corp. 3,979   69,362
Zhen Ding Technology Holding Ltd. 7,665   28,841
      3,109,844
Electronic Equipment & Instruments - 0.2%
Azbil Corp. 1,900   51,917
CETC Cyberspace Security Technology Co. Ltd., Class A 400   2,270
Halma PLC 6,696   185,280
Hexagon AB, Class B 34,659   399,268
Keyence Corp. 3,500   1,711,319
Shimadzu Corp. 4,600   144,064
Wuhan Guide Infrared Co. Ltd., Class A 3,500   6,171
Yokogawa Electric Corp. 3,900   63,356
Zhejiang Dahua Technology Co. Ltd., Class A 2,800   9,224
      2,572,869
Electronic Manufacturing Services - 0.1%
AAC Technologies Holdings, Inc. (a) 8,500   21,024
Fabrinet (a) 1,674   198,804
Foxconn Industrial Internet Co. Ltd., Class A 8,600   21,528
GoerTek, Inc., Class A 2,448   7,645
Hon Hai Precision Industry Co. Ltd. 126,000   431,297
Venture Corp. Ltd. 4,700   62,613
Wingtech Technology Co. Ltd., Class A 1,200   9,680
      752,591
Environmental & Facilities Services - 0.0% *
China Everbright Environment Group Ltd. 48,000   20,588
GFL Environmental, Inc. 3,600   123,959
Li-Cycle Holdings Corp. (a) 6,146   34,602
Rentokil Initial PLC 44,788   328,091
      507,240
Fertilizers & Agricultural Chemicals - 0.1%
Hektas Ticaret TAS (a) 1,966   2,771
ICL Group Ltd. 13,778   93,236
Nutrien Ltd. 9,300   685,878
 
See Notes to Schedule of Investments.
72 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
OCI NV 1,795   $60,959
PhosAgro PJSC (d) 13  
PhosAgro PJSC GDR (a)(d)** 1,956  
PI Industries Ltd. 823   30,411
Qinghai Salt Lake Industry Co. Ltd., Class A (a) 3,300   10,741
SABIC Agri-Nutrients Co. 2,190   74,660
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A 2,470   12,681
UPL Ltd. 4,938   43,203
Yara International ASA 3,251   141,246
      1,155,786
Financial Exchanges & Data - 0.2%
ASX Ltd. 3,406   149,032
B3 SA - Brasil Bolsa Balcao 61,700   125,949
Deutsche Boerse AG 3,394   662,034
East Money Information Co. Ltd., Class A 6,824   19,918
Euronext NV (e) 1,676   128,570
Hithink RoyalFlush Information Network Co. Ltd., Class A 500   14,903
Hong Kong Exchanges & Clearing Ltd. 21,700   961,840
Japan Exchange Group, Inc. 8,800   134,267
London Stock Exchange Group PLC 6,751   657,238
Moscow Exchange MICEX-Rates PJSC (a)(d)** 17,461  
Saudi Tadawul Group Holding Co. 377   14,541
Singapore Exchange Ltd. 14,936   105,869
TMX Group Ltd. 1,000   100,861
      3,075,022
Food Distributors - 0.0% *
Bid Corp. Ltd. 3,492   78,431
Food Retail - 0.4%
Alimentation Couche-Tard, Inc. 14,500   728,027
Avenue Supermarts Ltd. (a)(e) 1,692   70,211
BGF retail Co. Ltd. 77   10,726
BIM Birlesik Magazalar AS 5,083   39,447
Coles Group Ltd. 23,761   287,655
CP ALL PCL NVDR 61,715   112,059
Dino Polska SA (a)(e) 501   45,595
Empire Co. Ltd., Class A 2,800   74,958
Endeavour Group Ltd. 25,034   113,958
George Weston Ltd. 1,269   167,937
HelloFresh SE (a) 2,765   66,056
J Sainsbury PLC 30,632   105,654
Jeronimo Martins SGPS SA 4,952   116,446
Kesko Oyj, Class B 5,331   114,776
Kobe Bussan Co. Ltd. 2,600   72,426
Koninklijke Ahold Delhaize NV 18,675   639,181
Loblaw Cos. Ltd. 2,919   265,662
Magnit PJSC (a)(d)** 1,282  
Metro, Inc. 4,176   229,389
Ocado Group PLC (a) 9,799   65,033
President Chain Store Corp. 6,000   53,175
Seven & i Holdings Co. Ltd. 13,500   608,407
Shoprite Holdings Ltd. 5,334   66,800
Sumber Alfaria Trijaya Tbk PT 156,900   30,188
Tesco PLC 131,877   433,348
Woolworths Group Ltd. 21,707   552,924
  Number
of Shares
  Fair
Value
X5 Retail Group NV GDR (a)(d)** 2,502   $
      5,070,038
Footwear - 0.0% *
Feng TAY Enterprise Co. Ltd. 5,000   31,827
Pou Chen Corp. 14,000   14,390
Puma SE 2,061   127,996
Xtep International Holdings Ltd. 17,000   21,652
      195,865
Forest Products - 0.0% *
Svenska Cellulosa AB SCA, Class B 10,649   140,381
West Fraser Timber Co. Ltd. 1,100   78,354
      218,735
Gas Utilities - 0.1%
Adani Total Gas Ltd. 2,847   30,022
AltaGas Ltd. 4,900   81,573
APA Group 20,725   141,063
Beijing Enterprises Holdings Ltd. 6,500   23,397
Brookfield Infrastructure Corp., Class A 4,438   204,414
China Gas Holdings Ltd. 29,800   41,956
China Resources Gas Group Ltd. 8,800   32,370
Enagas SA 4,307   82,911
ENN Energy Holdings Ltd. 8,000   109,543
GAIL India Ltd. 27,546   35,351
Hong Kong & China Gas Co. Ltd. 197,650   174,012
Indraprastha Gas Ltd. 2,632   13,756
Kunlun Energy Co. Ltd. 38,000   29,668
Naturgy Energy Group SA 2,507   75,605
Osaka Gas Co. Ltd. 7,300   119,639
Petronas Gas Bhd 7,149   26,701
Snam SpA 35,609   189,140
Tokyo Gas Co. Ltd. 7,700   144,365
      1,555,486
Gold - 0.2%
Agnico Eagle Mines Ltd. 8,856   450,865
Aneka Tambang Tbk 103,400   14,433
AngloGold Ashanti Ltd. 4,235   103,506
Barrick Gold Corp. 31,400   582,130
Cia de Minas Buenaventura SAA ADR 1,800   14,724
Franco-Nevada Corp. 3,442   501,364
Gold Fields Ltd. 9,022   121,281
Harmony Gold Mining Co. Ltd. 6,492   27,005
Kinross Gold Corp. 21,800   102,448
Newcrest Mining Ltd. 15,864   283,729
Northern Star Resources Ltd. 20,420   167,773
Novagold Resources, Inc. (a) 10,630   66,119
Polymetal International PLC (a)(d)** 1,670  
Polyus PJSC GDR (a)(d)** 977  
Polyus PJSC (a)(d)** 122  
Shandong Gold Mining Co. Ltd., Class A 3,000   9,624
Shandong Gold Mining Co. Ltd., Class H (e) 7,500   15,238
SSR Mining, Inc. 1,900   28,728
Wheaton Precious Metals Corp. 8,080   388,611
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 73

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Zhaojin Mining Industry Co. Ltd., Class H (a) 15,500   $23,506
Zijin Mining Group Co. Ltd., Class H 59,119   98,631
Zijin Mining Group Co. Ltd., Class A 13,400   24,095
      3,023,810
Healthcare Distributors - 0.0% *
Amplifon SpA 2,625   91,147
Celltrion Healthcare Co. Ltd. 1,017   47,376
EBOS Group Ltd. 3,180   92,717
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A 900   4,337
Huadong Medicine Co. Ltd., Class A 1,700   11,471
Shanghai Pharmaceuticals Holding Co. Ltd., Class H 9,000   16,807
Shanghai Pharmaceuticals Holding Co. Ltd., Class A 1,700   5,043
Sinopharm Group Co. Ltd., Class H 13,600   41,096
      309,994
Healthcare Equipment - 0.2%
BioMerieux 876   92,510
Carl Zeiss Meditec AG 785   109,540
Cochlear Ltd. 1,161   185,191
Demant AS (a) 1,562   54,939
DiaSorin SpA 568   59,965
Fisher & Paykel Healthcare Corp. Ltd. 10,173   170,156
Getinge AB, Class B 3,970   96,910
Jafron Biomedical Co. Ltd., Class A 600   2,652
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Class A 600   2,780
Koninklijke Philips NV 15,779   290,332
Lepu Medical Technology Beijing Co. Ltd., Class A 2,300   7,760
Microport Scientific Corp. (a) 4,807   11,321
Nano-X Imaging Ltd. (a) 2,229   12,861
Olympus Corp. 21,700   380,210
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A 700   31,781
Siemens Healthineers AG (e) 5,006   289,125
Smith & Nephew PLC 15,416   214,786
Sonova Holding AG 922   272,396
Straumann Holding AG 1,981   297,575
Sysmex Corp. 3,000   196,429
Terumo Corp. 11,500   310,285
      3,089,504
Healthcare Facilities - 0.0% *
Aier Eye Hospital Group Co. Ltd., Class A 4,309   19,488
Apollo Hospitals Enterprise Ltd. 1,019   53,590
Bangkok Dusit Medical Services PCL NVDR 103,111   89,014
Bumrungrad Hospital PCL NVDR 5,941   39,313
Dr Sulaiman Al Habib Medical Services Group Co. 848   66,009
Hygeia Healthcare Holdings Co. Ltd. (a)(e) 3,200   22,817
IHH Healthcare Bhd 15,900   20,712
  Number
of Shares
  Fair
Value
Mouwasat Medical Services Co. 496   $31,150
Ramsay Health Care Ltd. 3,246   145,324
Rede D'Or Sao Luiz SA (e) 5,000   20,946
      508,363
Healthcare Services - 0.0% *
Fresenius Medical Care AG & Co. KGaA 3,611   153,542
Fresenius SE & Co. KGaA 7,467   201,996
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A 500   6,418
Meinian Onehealth Healthcare Holdings Co. Ltd., Class A (a) 4,500   4,933
Sonic Healthcare Ltd. 8,064   189,412
Topchoice Medical Corp., Class A (a) 300   5,645
      561,946
Healthcare Supplies - 0.2%
Alcon, Inc. 8,923   634,392
Asahi Intecc Co. Ltd. 4,600   81,082
Coloplast AS, Class B 2,107   277,941
EssilorLuxottica SA 5,202   939,726
HLB, Inc. (a) 1,282   34,488
Hoya Corp. 6,400   705,604
Ovctek China, Inc., Class A 600   2,894
SD Biosensor, Inc. 309   5,028
Shandong Weigao Group Medical Polymer Co. Ltd., Class H 26,000   41,545
Top Glove Corp. Bhd (a) 54,800   11,712
      2,734,412
Healthcare Technology - 0.0% *
M3, Inc. 7,800   195,854
Heavy Electrical Equipment - 0.1%
ABB India Ltd. 500   20,515
Dongfang Electric Corp. Ltd., Class A 1,000   2,763
Doosan Enerbility Co. Ltd. (a) 4,535   59,553
Ming Yang Smart Energy Group Ltd., Class A 600   1,970
Mitsubishi Electric Corp. 34,400   410,111
NARI Technology Co. Ltd., Class A 4,296   16,949
Shanghai Electric Group Co. Ltd., Class A (a) 15,400   9,920
Siemens Energy AG (a) 9,323   205,956
Titan Wind Energy Suzhou Co. Ltd., Class A 900   1,935
Vestas Wind Systems AS 18,018   526,104
Xinjiang Goldwind Science & Technology Co. Ltd., Class A 2,800   4,506
      1,260,282
Highways & Railtracks - 0.1%
Bangkok Expressway & Metro PCL NVDR 80,283   20,787
CCR SA 12,900   32,566
Getlink SE 8,631   142,405
Jiangsu Expressway Co. Ltd., Class H 12,000   11,160
Promotora y Operadora de Infraestructura SAB de CV 1,150   11,461
 
See Notes to Schedule of Investments.
74 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Shenzhen International Holdings Ltd. 17,503   $15,487
Taiwan High Speed Rail Corp. 18,000   17,892
Transurban Group 54,865   524,891
Zhejiang Expressway Co. Ltd., Class H 16,000   12,730
      789,379
Home Building - 0.1%
Barratt Developments PLC 19,483   112,379
Berkeley Group Holdings PLC 2,113   109,723
Iida Group Holdings Co. Ltd. 2,438   39,710
Open House Group Co. Ltd. 1,300   48,635
Persimmon PLC 5,533   86,113
Sekisui Chemical Co. Ltd. 7,100   100,599
Sekisui House Ltd. 10,958   222,809
Taylor Wimpey PLC 68,567   101,107
      821,075
Home Furnishing Retail - 0.0% *
Nitori Holdings Co. Ltd. 1,400   168,666
Home Furnishings - 0.0% *
Nien Made Enterprise Co. Ltd. 2,000   21,540
Oppein Home Group, Inc., Class A 500   8,801
      30,341
Home Improvement Retail - 0.0% *
Home Product Center PCL NVDR 59,909   25,292
Kingfisher PLC 38,236   123,884
      149,176
Hotels, Resorts & Cruise Lines - 0.1%
Accor SA (a) 2,976   96,927
Amadeus IT Group SA (a) 8,038   540,187
Asset World Corp. PCL NVDR 34,533   5,864
H World Group Ltd. ADR (a) 1,900   93,062
Indian Hotels Co. Ltd. 8,000   31,671
InterContinental Hotels Group PLC 3,101   203,478
Minor International PCL NVDR (a) 32,049   30,299
Shanghai Jinjiang International Hotels Co. Ltd., Class A 900   8,249
Tongcheng Travel Holdings Ltd. (a) 11,200   24,379
TravelSky Technology Ltd., Class H 10,000   18,633
Trip.com Group Ltd. ADR (a) 5,500   207,185
Whitbread PLC 3,966   146,848
      1,406,782
Household Appliances - 0.0% *
Coway Co. Ltd. 563   22,722
Ecovacs Robotics Co. Ltd., Class A 400   4,803
Electrolux AB, Class B 4,961   60,353
Gree Electric Appliances, Inc. of Zhuhai, Class A 1,100   5,876
Haier Smart Home Co. Ltd., Class A 3,900   12,871
Haier Smart Home Co. Ltd., Class H 23,800   74,524
SEB SA 420   47,875
      229,024
  Number
of Shares
  Fair
Value
Household Products - 0.1%
Essity AB, Class B 10,822   $309,400
Henkel AG & Co. KGaA 2,037   148,451
Kimberly-Clark de Mexico SAB de CV, Class A 17,800   37,422
Reckitt Benckiser Group PLC 12,801   976,118
Unicharm Corp. 7,200   295,261
Unilever Indonesia Tbk PT 77,200   22,398
Vinda International Holdings Ltd. 4,000   9,654
      1,798,704
Human Resource & Employment Services - 0.1%
Adecco Group AG 2,786   101,636
Persol Holdings Co. Ltd. 3,700   74,323
Randstad NV 2,350   139,758
Recruit Holdings Co. Ltd. 25,800   708,053
      1,023,770
Independent Power Producers & Energy Traders - 0.1%
ACEN Corp. 10,680   1,209
ACWA Power Co. 792   29,777
Adani Power Ltd. (a) 7,953   18,570
B Grimm Power PCL NVDR 8,800   10,468
CGN Power Co. Ltd., Class H (e) 129,000   30,884
China National Nuclear Power Co. Ltd., Class A 11,500   10,713
China Power International Development Ltd. 65,000   25,883
China Resources Power Holdings Co. Ltd. 20,000   42,672
Electricity Generating PCL NVDR 866   3,943
Eneva SA (a) 8,800   18,172
GD Power Development Co. Ltd., Class A (a) 10,800   5,984
Global Power Synergy PCL NVDR 5,698   11,377
Gulf Energy Development PCL NVDR 30,733   47,503
Huaneng Power International, Inc., Class H (a) 32,000   16,810
Huaneng Power International, Inc., Class A (a) 7,700   9,611
NTPC Ltd. 39,260   83,818
Ratch Group PCL NVDR 11,000   12,405
RWE AG 11,457   493,862
Shenzhen Energy Group Co. Ltd., Class A 5,900   5,254
      878,915
Industrial Conglomerates - 0.4%
Aboitiz Equity Ventures, Inc. 13,820   12,345
Alfa SAB de CV, Class A 36,800   23,275
Ayala Corp. 2,530   30,403
Bidvest Group Ltd. 2,928   41,821
Brookfield Business Corp., Class A 1,189   23,566
China Baoan Group Co. Ltd., Class A 1,200   1,988
CITIC Ltd. 59,000   68,959
CJ Corp. 187   14,990
CK Hutchison Holdings Ltd. 47,500   293,864
DCC PLC 1,921   112,236
Far Eastern New Century Corp. 38,000   39,110
Fosun International Ltd. 31,000   22,716
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 75

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Grupo Carso SAB de CV Series A1 5,400   $26,785
GS Holdings Corp. 445   13,804
HAP Seng Consolidated Bhd 6,300   7,288
Hitachi Ltd. 17,500   959,536
Industries Qatar QSC 16,400   58,768
Investment AB Latour, Class B 2,506   51,064
Jardine Cycle & Carriage Ltd. 2,400   56,571
Jardine Matheson Holdings Ltd. 3,100   150,791
JG Summit Holdings, Inc. 30,590   27,003
Keppel Corp. Ltd. 28,400   120,607
KOC Holding AS 4,546   18,144
LG Corp. 955   60,811
Lifco AB, Class B 4,036   87,106
Melrose Industries PLC 79,689   164,503
Multiply Group PJSC (a) 20,000   17,675
Mytilineos SA 1,007   28,760
Q Holding PJSC (a) 10,618   7,348
Samsung C&T Corp. 851   70,870
Siemens AG 13,778   2,236,103
Siemens Ltd. 862   34,976
Sime Darby Bhd 24,858   12,119
SK, Inc. 375   49,966
SM Investments Corp. 2,460   40,379
Smiths Group PLC 6,959   147,933
Toshiba Corp. 6,900   231,151
Turkiye Sise ve Cam Fabrikalari AS 16,723   36,870
      5,402,204
Industrial Gases - 0.1%
Air Liquide SA 9,432   1,581,648
Nippon Sanso Holdings Corp. 2,900   52,269
      1,633,917
Industrial Machinery & Supplies & Components - 0.4%
Airtac International Group 1,364   53,345
Alfa Laval AB 5,111   182,665
Atlas Copco AB, A Shares 47,952   608,026
Atlas Copco AB, B Shares 27,732   319,285
Daifuku Co. Ltd. 6,000   111,139
FANUC Corp. 17,500   630,467
GEA Group AG 2,969   135,682
Haitian International Holdings Ltd. 6,655   17,251
Hoshizaki Corp. 1,900   70,028
Indutrade AB 4,758   101,347
Jiangsu Hengli Hydraulic Co. Ltd., Class A 900   8,682
Kone Oyj, Class B 6,042   315,681
Kurita Water Industries Ltd. 2,007   91,717
Luoyang Xinqianglian Slewing Bearing Co. Ltd., Class A 170   1,127
Luxfer Holdings PLC 1,249   21,108
Makita Corp. 4,400   109,322
MINEBEA MITSUMI, Inc. 7,100   135,264
MISUMI Group, Inc. 5,600   140,385
Mitsubishi Heavy Industries Ltd. 5,700   209,497
NGK Insulators Ltd. 4,500   59,531
Ningbo Deye Technology Co. Ltd., Class A 200   7,534
North Industries Group Red Arrow Co. Ltd., Class A 600   1,997
Rational AG 87   58,585
Sandvik AB 18,984   403,318
  Number
of Shares
  Fair
Value
Schindler Holding AG 1,126   $245,810
Shenzhen Inovance Technology Co. Ltd., Class A 1,750   17,940
SKF AB, Class B 7,529   148,433
SMC Corp. 1,000   528,862
Spirax-Sarco Engineering PLC 1,299   191,163
Techtronic Industries Co. Ltd. 24,500   265,458
VAT Group AG (e) 475   171,873
Wartsila OYJ Abp 8,169   77,232
Wuxi Shangji Automation Co. Ltd., Class A 280   4,168
Yaskawa Electric Corp. 4,200   183,776
      5,627,698
Industrial REITs - 0.1%
CapitaLand Ascendas REIT 65,900   142,228
GLP J-Reit 78   84,113
Goodman Group 30,129   383,076
Mapletree Logistics Trust 70,436   90,945
Nippon Prologis REIT, Inc. 37   78,145
Segro PLC 21,375   204,084
Warehouses De Pauw CVA 2,829   84,275
      1,066,866
Integrated Oil & Gas - 0.9%
BP PLC 326,884   2,070,851
Cenovus Energy, Inc. 25,623   446,441
China Petroleum & Chemical Corp., Class H 270,000   159,331
China Petroleum & Chemical Corp., Class A 19,100   15,621
Eni SpA 44,641   623,699
Equinor ASA 16,988   482,789
Galp Energia SGPS SA 8,724   98,892
Gazprom PJSC ADR (a)(d)** 77,360  
Gazprom PJSC (d)** 56,590  
Guanghui Energy Co. Ltd., Class A 8,300   11,182
Imperial Oil Ltd. 3,700   187,905
LUKOIL PJSC (d)** 7,480  
MOL Hungarian Oil & Gas PLC 4,185   30,673
Novatek PJSC GDR (a)(d)** 1,641  
Oil & Natural Gas Corp. Ltd. 27,061   49,872
OMV AG 2,888   132,864
PetroChina Co. Ltd., Class H 222,000   131,142
PetroChina Co. Ltd., Class A 11,100   9,564
Petroleo Brasileiro SA 37,700   196,967
PTT PCL NVDR 105,641   97,487
Repsol SA 24,522   377,774
Rosneft Oil Co. PJSC (d)** 20,586  
Saudi Arabian Oil Co. (e) 24,495   211,127
Shell PLC 127,048   3,629,054
Suncor Energy, Inc. 24,200   750,310
Surgutneftegas PJSC ADR (a)(d)** 9,978  
Surgutneftegas PJSC (d)** 31,000  
TotalEnergies SE 44,804   2,646,559
      12,360,104
Integrated Telecommunication Services - 0.5%
BCE, Inc. 1,247   55,783
Bezeq The Israeli Telecommunication Corp. Ltd. 35,101   47,728
BT Group PLC 123,016   222,104
 
See Notes to Schedule of Investments.
76 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Cellnex Telecom SA (a)(e) 10,060   $391,913
China Tower Corp. Ltd., Class H (e) 460,000   55,673
Chunghwa Telecom Co. Ltd. 39,071   153,584
Deutsche Telekom AG 58,422   1,418,245
Elisa Oyj 2,502   151,170
Emirates Telecommunications Group Co. PJSC 35,211   211,563
Hellenic Telecommunications Organization SA 2,034   29,843
HKT Trust & HKT Ltd. 73,815   97,987
Indus Towers Ltd. 6,486   11,307
Infrastrutture Wireless Italiane SpA (e) 5,791   76,221
Koninklijke KPN NV 58,437   206,862
LG Uplus Corp. 1,535   12,789
Nippon Telegraph & Telephone Corp. 21,609   644,207
Ooredoo QPSC 7,711   19,914
Operadora De Sites Mexicanos SAB de CV 10,200   10,067
Orange SA 35,546   423,052
Sarana Menara Nusantara Tbk PT 268,300   16,597
Saudi Telecom Co. 15,183   162,397
Singapore Telecommunications Ltd. 146,500   271,701
Spark New Zealand Ltd. 32,620   103,404
Swisscom AG 460   294,009
Telecom Italia SpA (a) 204,353   67,513
Telefonica Brasil SA 4,887   37,263
Telefonica Deutschland Holding AG 17,747   54,728
Telefonica SA 92,554   399,329
Telekom Malaysia Bhd 12,097   13,447
Telenor ASA 12,300   144,174
Telia Co. AB 46,547   118,303
Telkom Indonesia Persero Tbk PT 505,900   137,374
Telstra Group Ltd. 71,487   202,802
TELUS Corp. 8,024   159,075
True Corp. PCL NVDR 73,642   18,090
United Internet AG 1,395   24,090
      6,464,308
Interactive Home Entertainment - 0.2%
37 Interactive Entertainment Network Technology Group Co. Ltd., Class A 3,000   12,422
Bilibili, Inc., Class Z (a) 1,860   43,766
Capcom Co. Ltd. 3,000   107,118
CD Projekt SA 697   18,079
Embracer Group AB (a) 11,141   52,269
Kakao Games Corp. (a) 347   11,246
Kingsoft Corp. Ltd. 9,800   48,176
Koei Tecmo Holdings Co. Ltd. 2,380   42,913
Konami Group Corp. 1,600   73,262
Krafton, Inc. (a) 266   37,834
NCSoft Corp. 167   47,857
NetEase, Inc. 19,970   352,526
Netmarble Corp. (a)(e) 299   15,330
Nexon Co. Ltd. 8,400   200,107
Nintendo Co. Ltd. 19,900   771,118
Pearl Abyss Corp. (a) 358   12,841
Perfect World Co. Ltd., Class A 3,300   8,180
Sea Ltd. ADR (a) 6,500   562,575
Square Enix Holdings Co. Ltd. 1,800   86,295
  Number
of Shares
  Fair
Value
Zhejiang Century Huatong Group Co. Ltd., Class A (a) 8,600   $7,552
      2,511,466
Interactive Media & Services - 0.4%
Adevinta ASA (a) 6,858   48,670
Auto Trader Group PLC (e) 18,241   139,458
Autohome, Inc. ADR 700   23,429
Baidu, Inc., Class A (a) 22,300   420,158
Info Edge India Ltd. 633   28,791
JOYY, Inc. ADR 400   12,472
Kakao Corp. 3,154   149,370
Kanzhun Ltd. ADR (a) 1,800   34,254
Kuaishou Technology (a)(e) 18,100   139,176
NAVER Corp. 1,328   208,085
REA Group Ltd. 915   85,483
Scout24 SE (e) 1,387   82,646
SEEK Ltd. 6,556   106,184
Tencent Holdings Ltd. 63,275   3,092,185
VK Co. Ltd. GDR (a)(d)** 1,600  
Weibo Corp. ADR (a) 700   14,042
Yandex NV, Class A (a)(d)** 5,562  
Z Holdings Corp. 52,396   148,215
      4,732,618
Internet Services & Infrastructure - 0.1%
GDS Holdings Ltd., Class A (a) 8,800   20,672
Shopify, Inc., Class A (a) 21,291   1,019,438
Wix.com Ltd. (a) 1,700   169,660
      1,209,770
Investment Banking & Brokerage - 0.1%
China Galaxy Securities Co. Ltd., Class H 33,000   16,614
China Galaxy Securities Co. Ltd., Class A 2,700   3,952
China International Capital Corp. Ltd., Class H (e) 18,000   36,114
China International Capital Corp. Ltd., Class A 1,200   6,801
China Merchants Securities Co. Ltd., Class A 3,400   6,828
CITIC Securities Co. Ltd., Class H 23,425   50,106
CITIC Securities Co. Ltd., Class A 6,590   19,681
CSC Financial Co. Ltd., Class A 4,000   14,950
Daiwa Securities Group, Inc. 23,300   109,126
Everbright Securities Co. Ltd., Class A 3,600   7,981
Futu Holdings Ltd. ADR (a) 1,300   67,405
GF Securities Co. Ltd., Class H 14,200   20,084
GF Securities Co. Ltd., Class A 3,200   7,351
Guosen Securities Co. Ltd., Class A 6,800   9,289
Guotai Junan Securities Co. Ltd., Class A 4,100   8,585
Haitong Securities Co. Ltd., Class H 30,400   18,976
Haitong Securities Co. Ltd., Class A 4,400   5,653
Huatai Securities Co. Ltd., Class H (e) 20,000   22,831
Huatai Securities Co. Ltd., Class A 4,600   8,563
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 77

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Industrial Securities Co. Ltd., Class A 7,500   $6,687
Korea Investment Holdings Co. Ltd. 530   22,497
Meritz Securities Co. Ltd. 3,355   15,747
NH Investment & Securities Co. Ltd. 1,321   8,955
Nomura Holdings, Inc. 51,400   197,694
Orient Securities Co. Ltd., Class A 8,192   11,693
Samsung Securities Co. Ltd. 735   17,966
SBI Holdings, Inc. 4,800   95,102
Shenwan Hongyuan Group Co. Ltd., Class A 13,700   8,326
SooChow Securities Co. Ltd., Class A 2,100   2,116
Zheshang Securities Co. Ltd., Class A 4,800   7,048
Zhongtai Securities Co. Ltd., Class A 7,200   7,034
      841,755
IT Consulting & Other Services - 0.3%
Bechtle AG 1,404   67,355
Capgemini SE 2,923   544,173
CGI, Inc. (a) 3,800   365,722
Chinasoft International Ltd. (a) 28,000   17,738
Elm Co. 260   30,726
Fujitsu Ltd. 3,500   471,837
HCL Technologies Ltd. 10,987   145,859
Infosys Ltd. 34,072   595,685
Itochu Techno-Solutions Corp. 1,932   47,492
LTIMindtree Ltd. (e) 898   52,293
Mphasis Ltd. 738   16,224
NEC Corp. 4,340   167,150
Nomura Research Institute Ltd. 6,960   162,393
NTT Data Corp. 11,100   145,581
Obic Co. Ltd. 1,300   205,424
Otsuka Corp. 2,200   77,948
Samsung SDS Co. Ltd. 308   27,544
SCSK Corp. 3,200   46,743
Tata Consultancy Services Ltd. 9,259   362,933
Tech Mahindra Ltd. 5,909   79,657
TIS, Inc. 3,900   102,894
Wipro Ltd. 13,332   59,479
      3,792,850
Leisure Facilities - 0.1%
Oriental Land Co. Ltd. 18,000   614,847
Shenzhen Overseas Chinese Town Co. Ltd., Class A 7,300   5,127
Songcheng Performance Development Co. Ltd., Class A 2,387   5,666
      625,640
Leisure Products - 0.0% *
Bandai Namco Holdings, Inc. 10,800   232,288
Giant Manufacturing Co. Ltd. 3,108   18,069
Shimano, Inc. 1,300   224,868
Yamaha Corp. 2,700   104,038
      579,263
Life & Health Insurance - 0.6%
Aegon NV 31,510   135,521
AIA Group Ltd. 213,000   2,233,792
  Number
of Shares
  Fair
Value
Bupa Arabia for Cooperative Insurance Co. 703   $32,550
Cathay Financial Holding Co. Ltd. 86,529   119,137
China Development Financial Holding Corp. 163,120   67,496
China Life Insurance Co. Ltd., Class H 75,000   123,079
China Life Insurance Co. Ltd., Class A 1,200   5,820
China Taiping Insurance Holdings Co. Ltd. 15,000   15,949
Dai-ichi Life Holdings, Inc. 17,400   319,115
Discovery Ltd. (a) 5,021   39,463
Fubon Financial Holding Co. Ltd. 75,982   141,411
Great-West Lifeco, Inc. 5,481   145,069
HDFC Life Insurance Co. Ltd. (e) 9,848   59,887
iA Financial Corp., Inc. 1,898   120,134
ICICI Prudential Life Insurance Co. Ltd. (e) 4,451   23,652
Japan Post Holdings Co. Ltd. 42,300   342,493
Japan Post Insurance Co. Ltd. 3,800   59,086
Legal & General Group PLC 106,158   314,699
Manulife Financial Corp. 33,600   615,717
Medibank Pvt Ltd. 48,026   108,590
New China Life Insurance Co. Ltd., Class H 7,800   18,525
New China Life Insurance Co. Ltd., Class A 1,600   7,098
NN Group NV 4,927   179,221
Old Mutual Ltd. 46,818   31,144
Phoenix Group Holdings PLC 13,039   88,301
Ping An Insurance Group Co. of China Ltd., Class H 64,000   414,027
Ping An Insurance Group Co. of China Ltd., Class A 7,400   49,055
Poste Italiane SpA (e) 10,182   104,018
Power Corp. of Canada 9,780   249,604
Prudential PLC 49,107   673,908
Samsung Life Insurance Co. Ltd. 848   40,894
Sanlam Ltd. 18,033   57,293
SBI Life Insurance Co. Ltd. (e) 4,325   58,023
Shin Kong Financial Holding Co. Ltd. 123,263   34,186
Sun Life Financial, Inc. 10,490   489,407
Swiss Life Holding AG 548   338,693
T&D Holdings, Inc. 10,400   128,591
      7,984,648
Life Sciences Tools & Services - 0.1%
AbCellera Biologics, Inc. (a) 9,164   69,097
Bachem Holding AG, Class B 564   56,804
Divi's Laboratories Ltd. 1,372   47,243
Eurofins Scientific SE 2,374   159,248
Genscript Biotech Corp. (a) 12,000   25,672
Hangzhou Tigermed Consulting Co. Ltd., Class A 500   6,972
Hangzhou Tigermed Consulting Co. Ltd., Class H (e) 1,500   14,132
Joinn Laboratories China Co. Ltd., Class A 784   5,979
Lonza Group AG 1,331   802,489
Pharmaron Beijing Co. Ltd., Class H (e) 1,950   8,161
Pharmaron Beijing Co. Ltd., Class A 450   3,211
 
See Notes to Schedule of Investments.
78 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Samsung Biologics Co. Ltd. (a)(e) 187   $113,353
Sartorius Stedim Biotech 487   149,678
WuXi AppTec Co. Ltd., Class H (e) 3,708   38,833
WuXi AppTec Co. Ltd., Class A 1,420   16,431
Wuxi Biologics Cayman, Inc. (a)(e) 36,500   224,910
      1,742,213
Managed Healthcare - 0.0% *
Hapvida Participacoes e Investimentos SA (a)(e) 47,025   24,300
Marine Ports & Services - 0.0% *
Adani Ports & Special Economic Zone Ltd. 5,450   42,092
China Merchants Port Holdings Co. Ltd. 13,084   20,086
COSCO SHIPPING Ports Ltd. 18,958   12,677
International Container Terminal Services, Inc. 11,170   43,858
Shanghai International Port Group Co. Ltd., Class A 3,100   2,504
      121,217
Marine Transportation - 0.1%
AP Moller - Maersk AS, Class B 89   162,078
AP Moller - Maersk AS, Class A 61   108,419
COSCO SHIPPING Holdings Co. Ltd., Class H 33,682   37,972
COSCO SHIPPING Holdings Co. Ltd., Class A 8,910   14,333
Costamare, Inc. 2,407   22,650
Evergreen Marine Corp. Taiwan Ltd. 10,400   54,469
Golden Ocean Group Ltd. 5,460   51,979
HMM Co. Ltd. 2,865   45,051
Kuehne & Nagel International AG 964   287,553
MISC Bhd 13,575   22,254
Mitsui OSK Lines Ltd. 6,100   152,611
Nippon Yusen KK 8,600   200,406
Orient Overseas International Ltd. 1,500   28,793
Pan Ocean Co. Ltd. 2,635   11,812
Safe Bulkers, Inc. 3,509   12,948
SITC International Holdings Co. Ltd. 30,000   64,474
Wan Hai Lines Ltd. 6,670   15,096
Yang Ming Marine Transport Corp. 18,000   38,213
      1,331,111
Metal, Glass & Plastic Containers - 0.0% *
CCL Industries, Inc., Class B 2,900   143,870
Motorcycle Manufacturers - 0.0% *
Bajaj Auto Ltd. 716   33,870
Eicher Motors Ltd. 1,384   49,729
Hero MotoCorp Ltd. 1,233   35,304
TVS Motor Co. Ltd. 2,000   26,288
Yadea Group Holdings Ltd. (e) 14,000   36,063
Yamaha Motor Co. Ltd. 5,200   135,766
      317,020
  Number
of Shares
  Fair
Value
Movies & Entertainment - 0.1%
Beijing Enlight Media Co. Ltd., Class A 5,600   $7,256
Bollore SE 15,397   95,350
China Ruyi Holdings Ltd. (a) 40,000   10,461
HYBE Co. Ltd. (a) 214   31,249
iQIYI, Inc. ADR (a) 4,000   29,120
Mango Excellent Media Co. Ltd., Class A 1,600   8,681
Tencent Music Entertainment Group ADR (a) 7,200   59,616
Toho Co. Ltd. 1,900   72,671
Universal Music Group NV 12,894   327,124
      641,528
Multi-Family Residential REITs - 0.0% *
Canadian Apartment Properties REIT 1,700   59,554
Multi-Line Insurance - 0.4%
Ageas SA 3,166   137,202
Allianz SE 7,267   1,680,502
Assicurazioni Generali SpA 19,781   394,837
Aviva PLC 49,726   248,962
AXA SA 33,654   1,028,885
Baloise Holding AG 900   140,359
BB Seguridade Participacoes SA 7,103   45,544
China Pacific Insurance Group Co. Ltd., Class H 27,089   71,815
China Pacific Insurance Group Co. Ltd., Class A 4,400   16,614
Gjensidige Forsikring ASA 3,415   55,825
Powszechny Zaklad Ubezpieczen SA 6,174   50,372
Sampo Oyj, A Shares 8,545   403,922
ZhongAn Online P&C Insurance Co. Ltd., Class H (a)(e) 5,600   17,598
Zurich Insurance Group AG 2,713   1,302,058
      5,594,495
Multi-Sector Holdings - 0.1%
Bajaj Holdings & Investment Ltd. 200   14,439
Eurazeo SE 739   52,697
EXOR NV (a) 1,909   157,698
Groupe Bruxelles Lambert NV 1,748   149,443
Industrivarden AB, Class A 2,226   60,218
Industrivarden AB, Class C 3,235   87,309
Investor AB, Class B 32,540   648,806
Investor AB, Class A 8,799   179,707
Kinnevik AB, Class B (a) 5,134   76,838
L E Lundbergforetagen AB, Class B 1,297   58,791
Remgro Ltd. 4,910   37,202
Sofina SA 263   59,175
Wendel SE 572   60,592
      1,642,915
Multi-Utilities - 0.2%
Algonquin Power & Utilities Corp. 13,070   109,516
Canadian Utilities Ltd., Class A 2,700   75,133
E.ON SE 40,034   500,311
Engie SA 32,576   516,432
National Grid PLC 65,448   887,361
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 79

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Qatar Electricity & Water Co. QSC 5,078   $23,535
Veolia Environnement SA 11,841   366,037
      2,478,325
Office REITs - 0.0% *
Covivio SA 1,010   58,858
Dexus 20,990   106,328
Gecina SA 893   92,860
Japan Real Estate Investment Corp. 22   87,468
Nippon Building Fund, Inc. 27   112,123
      457,637
Office Services & Supplies - 0.0% *
Shanghai M&G Stationery, Inc., Class A 1,000   7,150
Oil & Gas Drilling - 0.0% *
Borr Drilling Ltd. (a) 8,934   67,720
China Oilfield Services Ltd., Class H 18,000   18,504
      86,224
Oil & Gas Equipment & Services - 0.0% *
Dialog Group Bhd 38,500   20,640
Offshore Oil Engineering Co. Ltd., Class A 2,700   2,410
Yantai Jereh Oilfield Services Group Co. Ltd., Class A 500   2,062
      25,112
Oil & Gas Exploration & Production - 0.2%
Aker BP ASA 5,547   135,997
ARC Resources Ltd. 12,400   140,460
Canadian Natural Resources Ltd. 20,000   1,105,257
Inpex Corp. 18,400   194,258
Kosmos Energy Ltd. (a) 20,508   152,580
Petro Rio SA (a) 7,200   44,291
PTT Exploration & Production PCL NVDR 14,699   64,592
Santos Ltd. 55,971   258,102
Tatneft PJSC ADR (a)(d)** 3,383  
Tatneft PJSC (d)** 4,926  
Tourmaline Oil Corp. 5,700   237,207
Woodside Energy Group Ltd. 33,929   759,453
      3,092,197
Oil & Gas Refining & Marketing - 0.2%
Ampol Ltd. 4,126   84,284
Bharat Petroleum Corp. Ltd. 8,844   37,123
Cosan SA 12,336   36,714
Empresas COPEC SA 4,726   33,535
ENEOS Holdings, Inc. 54,200   189,711
Formosa Petrochemical Corp. 14,000   39,141
HD Hyundai Co. Ltd. 485   21,670
Hindustan Petroleum Corp. Ltd. 6,187   17,872
Idemitsu Kosan Co. Ltd. 3,600   78,628
Indian Oil Corp. Ltd. 28,587   27,155
Motor Oil Hellas Corinth Refineries SA 614   15,788
Neste Oyj 7,529   372,631
Parkland Corp. 2,707   64,807
Petronas Dagangan Bhd 3,100   14,980
Polski Koncern Naftowy ORLEN SA 5,938   80,308
  Number
of Shares
  Fair
Value
Qatar Fuel QSC 3,749   $17,918
Rabigh Refining & Petrochemical Co. (a) 5,905   15,870
Reliance Industries Ltd. 30,815   876,211
SK Innovation Co. Ltd. (a) 606   83,965
S-Oil Corp. 483   29,752
Thai Oil PCL NVDR 12,366   19,002
Turkiye Petrol Rafinerileri AS 1,432   39,612
      2,196,677
Oil & Gas Storage & Transportation - 0.2%
Ardmore Shipping Corp. 1,840   27,361
China Merchants Energy Shipping Co. Ltd., Class A 10,900   11,132
COSCO SHIPPING Energy Transportation Co. Ltd., Class A (a) 3,600   7,098
Enbridge, Inc. 36,300   1,382,155
FLEX LNG Ltd. 1,274   42,781
Frontline PLC 5,497   91,030
Golar LNG Ltd. (a) 4,451   96,141
Keyera Corp. 3,800   83,084
Pembina Pipeline Corp. 9,800   317,024
Petronet LNG Ltd. 6,322   17,636
Qatar Gas Transport Co. Ltd. 29,180   27,794
Scorpio Tankers, Inc. 2,138   120,391
SFL Corp. Ltd. 5,114   48,583
TC Energy Corp. 18,128   704,170
Teekay Corp. (a) 3,266   20,184
Teekay Tankers Ltd., Class A (a) 1,020   43,789
Ultrapar Participacoes SA 6,400   17,621
      3,057,974
Other Specialty Retail - 0.0% *
China Tourism Group Duty Free Corp. Ltd., Class A 1,200   32,066
China Tourism Group Duty Free Corp. Ltd., Class H (a)(e) 700   17,277
Chow Tai Fook Jewellery Group Ltd. 20,000   39,742
Hanwha Galleria Co. Ltd. (a) 1,313   2,147
Hotel Shilla Co. Ltd. 370   23,252
Jarir Marketing Co. 639   27,832
JD Sports Fashion PLC 50,230   110,873
JUMBO SA 974   20,706
Pop Mart International Group Ltd. (e) 7,200   19,606
      293,501
Packaged Foods & Meats - 0.3%
Ajinomoto Co., Inc. 8,100   281,115
Almarai Co. JSC 2,530   38,117
Angel Yeast Co. Ltd., Class A 500   3,039
Associated British Foods PLC 6,260   150,574
Barry Callebaut AG 70   148,541
Britannia Industries Ltd. 1,097   57,823
Charoen Pokphand Foods PCL NVDR 26,869   16,659
China Feihe Ltd. (e) 36,568   27,406
China Huishan Dairy Holdings Co. Ltd. (d) 55,000  
China Mengniu Dairy Co. Ltd. (a) 32,000   131,181
Chocoladefabriken Lindt & Spruengli AG 21   461,981
CJ CheilJedang Corp. 103   25,805
 
See Notes to Schedule of Investments.
80 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Dali Foods Group Co. Ltd. (e) 17,117   $7,137
Danone SA 11,471   715,050
Foshan Haitian Flavouring & Food Co. Ltd., Class A 2,904   32,363
Gruma SAB de CV, Class B 2,070   30,477
Grupo Bimbo SAB de CV Series A 14,381   72,224
Guangdong Haid Group Co. Ltd., Class A 1,000   8,500
Henan Shuanghui Investment & Development Co. Ltd., Class A 3,185   12,027
Indofood CBP Sukses Makmur Tbk PT 27,600   18,378
Indofood Sukses Makmur Tbk PT 30,136   12,477
Inner Mongolia Yili Industrial Group Co. Ltd., Class A 4,000   16,932
JDE Peet's NV 1,705   49,681
Kerry Group PLC, Class A 2,827   282,430
Kikkoman Corp. 2,800   142,611
Marico Ltd. 5,229   30,580
MEIJI Holdings Co. Ltd. 3,800   90,162
Monde Nissin Corp. (e) 50,400   9,117
Mowi ASA 7,247   133,998
Muyuan Foods Co. Ltd., Class A 3,920   27,934
Nestle India Ltd. 326   78,275
Nestle Malaysia Bhd 339   10,533
Nisshin Seifun Group, Inc. 3,300   38,528
Nissin Foods Holdings Co. Ltd. 1,200   109,468
Orion Corp. 240   25,189
Orkla ASA 13,051   92,535
PPB Group Bhd 6,487   24,346
QL Resources Bhd 12,588   16,575
Salmar ASA 1,405   61,182
Saputo, Inc. 4,400   113,694
Savola Group 2,648   19,781
SunOpta, Inc. (a) 4,392   33,818
Tata Consumer Products Ltd. 5,597   48,367
Thai Union Group PCL NVDR 28,434   11,740
Tingyi Cayman Islands Holding Corp. 20,000   33,469
Uni-President China Holdings Ltd. 12,000   12,103
Uni-President Enterprises Corp. 49,000   115,835
Universal Robina Corp. 8,860   23,541
Want Want China Holdings Ltd. 53,000   34,099
Wens Foodstuffs Group Co. Ltd., Class A 3,400   10,135
WH Group Ltd. (e) 162,166   96,674
Yakult Honsha Co. Ltd. 2,300   166,723
Yihai International Holding Ltd. (a) 4,364   12,822
Yihai Kerry Arawana Holdings Co. Ltd., Class A 1,000   6,276
      4,230,027
Paper & Plastic Packaging Products & Materials - 0.0% *
Klabin SA 8,200   29,256
SCG Packaging PCL NVDR 14,842   20,119
SIG Group AG (a) 6,002   154,868
Smurfit Kappa Group PLC 4,354   158,204
      362,447
  Number
of Shares
  Fair
Value
Paper Products - 0.1%
Empresas CMPC SA 11,722   $19,696
Holmen AB, Class B 1,608   62,049
Indah Kiat Pulp & Paper Tbk PT 24,700   12,379
Mondi PLC 8,528   135,712
Nine Dragons Paper Holdings Ltd. 14,310   10,713
Oji Holdings Corp. 13,800   54,510
Stora Enso Oyj, R Shares 10,828   141,124
Suzano SA 7,800   63,997
UPM-Kymmene Oyj (a) 9,492   319,390
      819,570
Passenger Airlines - 0.1%
Air Canada (a) 3,800   53,770
Air China Ltd., Class H (a) 18,000   16,099
ANA Holdings, Inc. (a) 3,000   65,050
China Airlines Ltd. 26,000   16,742
China Eastern Airlines Corp. Ltd., Class A (a) 12,400   9,301
China Southern Airlines Co. Ltd., Class H (a) 20,000   14,269
China Southern Airlines Co. Ltd., Class A (a) 11,600   13,297
Copa Holdings SA, Class A (a) 300   27,705
Deutsche Lufthansa AG (a) 11,712   130,501
Eva Airways Corp. 25,000   22,186
InterGlobe Aviation Ltd. (a)(e) 1,049   24,441
Japan Airlines Co. Ltd. 2,914   56,683
Korean Air Lines Co. Ltd. 1,864   33,280
Qantas Airways Ltd. (a) 15,879   71,013
Singapore Airlines Ltd. 26,100   112,687
Turk Hava Yollari AO (a) 5,581   34,532
      701,556
Passenger Ground Transportation - 0.0% *
Grab Holdings Ltd., Class A (a) 22,300   67,123
Localiza Rent a Car SA 7,954   83,772
Localiza Rent a Car SA (a) 35   90
      150,985
Personal Care Products - 0.4%
Amorepacific Corp. 276   29,131
Beiersdorf AG 1,785   232,623
By-health Co. Ltd., Class A 1,000   3,104
Colgate-Palmolive India Ltd. 970   17,811
Dabur India Ltd. 6,264   41,593
Godrej Consumer Products Ltd. (a) 4,487   52,960
Hengan International Group Co. Ltd. 5,980   27,699
Hindustan Unilever Ltd. 8,324   259,953
Kao Corp. 8,300   322,315
Kobayashi Pharmaceutical Co. Ltd. 1,100   67,116
Kose Corp. 700   83,004
LG H&H Co. Ltd. 90   41,580
L'Oreal SA 4,351   1,947,708
Natura & Co. Holding SA 8,400   21,869
Proya Cosmetics Co. Ltd., Class A 280   7,419
Shiseido Co. Ltd. 7,100   332,083
Unilever PLC 45,652   2,371,108
      5,859,076
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 81

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Pharmaceuticals - 1.4%
Aspen Pharmacare Holdings Ltd. 4,082   $42,356
Astellas Pharma, Inc. 32,700   463,480
AstraZeneca PLC 27,892   3,873,486
Asymchem Laboratories Tianjin Co. Ltd., Class A 232   4,504
Aurobindo Pharma Ltd. 3,446   21,777
Bayer AG 17,581   1,125,122
Betta Pharmaceuticals Co. Ltd., Class A 600   5,144
Celltrion Pharm, Inc. (a) 226   14,495
Changchun High & New Technology Industry Group, Inc., Class A 300   7,139
China Medical System Holdings Ltd. 15,000   23,666
China Resources Pharmaceutical Group Ltd. (e) 17,000   13,451
China Traditional Chinese Medicine Holdings Co. Ltd. 30,000   15,717
Chugai Pharmaceutical Co. Ltd. 11,900   293,147
Cipla Ltd. 5,279   57,940
CSPC Pharmaceutical Group Ltd. 90,000   88,228
Daiichi Sankyo Co. Ltd. 31,400   1,142,687
Dong-E-E-Jiao Co. Ltd., Class A 400   3,089
Dr Reddy's Laboratories Ltd. 1,264   71,275
Eisai Co. Ltd. 4,500   254,993
Hanmi Pharm Co. Ltd. 84   16,558
Hansoh Pharmaceutical Group Co. Ltd. (e) 12,000   20,802
Hikma Pharmaceuticals PLC 2,821   58,607
Humanwell Healthcare Group Co. Ltd., Class A 2,200   8,576
Hypera SA 4,200   31,229
Ipsen SA 729   80,416
Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A 4,620   28,803
Kalbe Farma Tbk PT 246,000   34,477
Kyowa Kirin Co. Ltd. 4,700   102,365
Lupin Ltd. 2,072   16,373
Merck KGaA 2,303   430,131
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd., Class A 520   1,236
Nippon Shinyaku Co. Ltd. 1,000   44,021
Novartis AG 38,946   3,581,444
Novo Nordisk AS, Class B 29,794   4,740,754
Ono Pharmaceutical Co. Ltd. 7,100   147,601
Orion Oyj, Class B 1,855   83,064
Otsuka Holdings Co. Ltd. 6,900   218,554
Recordati Industria Chimica e Farmaceutica SpA 1,806   76,530
Richter Gedeon Nyrt 1,415   29,566
Scilex Holding Co. (a) 1,832   15,022
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H 4,500   12,794
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A 1,500   7,086
Shionogi & Co. Ltd. 4,700   211,494
Sino Biopharmaceutical Ltd. 105,000   58,852
SK Biopharmaceuticals Co. Ltd. (a) 382   18,615
  Number
of Shares
  Fair
Value
Sun Pharmaceutical Industries Ltd. 9,714   $116,396
Takeda Pharmaceutical Co. Ltd. 26,900   881,400
Teva Pharmaceutical Industries Ltd. ADR (a) 19,600   173,460
Torrent Pharmaceuticals Ltd. 1,128   21,128
UCB SA 2,234   200,025
Yuhan Corp. 545   21,218
Yunnan Baiyao Group Co. Ltd., Class A 1,400   11,151
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A 400   16,559
Zhejiang Huahai Pharmaceutical Co. Ltd., Class A 2,600   7,637
Zhejiang NHU Co. Ltd., Class A 2,592   6,775
      19,052,415
Precious Metals & Minerals - 0.0% *
Alrosa PJSC (a)(d)** 46,308  
Anglo American Platinum Ltd. 537   28,929
Impala Platinum Holdings Ltd. 8,611   79,538
Industrias Penoles SAB de CV (a) 1,400   20,609
Northam Platinum Holdings Ltd. (a) 3,073   25,072
Sibanye Stillwater Ltd. 28,647   59,359
      213,507
Property & Casualty Insurance - 0.2%
Admiral Group PLC 3,513   88,419
DB Insurance Co. Ltd. 393   22,610
Fairfax Financial Holdings Ltd. 403   267,653
ICICI Lombard General Insurance Co. Ltd. (e) 2,136   27,839
Insurance Australia Group Ltd. 48,441   152,774
Intact Financial Corp. 3,117   445,480
MS&AD Insurance Group Holdings, Inc. 7,600   234,973
People's Insurance Co. Group of China Ltd., Class H 97,000   32,367
People's Insurance Co. Group of China Ltd., Class A 10,900   8,260
PICC Property & Casualty Co. Ltd., Class H 70,000   71,407
QBE Insurance Group Ltd. 26,321   258,197
Samsung Fire & Marine Insurance Co. Ltd. 307   48,528
Sompo Holdings, Inc. 5,500   217,422
Suncorp Group Ltd. 22,307   181,600
Tokio Marine Holdings, Inc. 32,800   629,740
Tryg AS 6,324   138,536
      2,825,805
Publishing - 0.0% *
China Literature Ltd. (a)(e) 4,400   22,722
Saudi Research & Media Group (a) 353   18,590
      41,312
Rail Transportation - 0.3% *
Aurizon Holdings Ltd. 31,704   71,548
BTS Group Holdings PCL NVDR 76,426   15,894
Canadian National Railway Co. 10,300   1,213,685
 
See Notes to Schedule of Investments.
82 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Canadian Pacific Railway Ltd. 16,700   $1,284,198
Central Japan Railway Co. 2,600   309,497
Container Corp. Of India Ltd. 2,897   20,501
Daqin Railway Co. Ltd., Class A 9,300   9,747
East Japan Railway Co. 5,400   298,137
Hankyu Hanshin Holdings, Inc. 4,500   133,118
Keio Corp. 2,200   77,070
Keisei Electric Railway Co. Ltd. 2,200   67,605
Kintetsu Group Holdings Co. Ltd. 3,000   96,413
MTR Corp. Ltd. 30,500   147,201
Odakyu Electric Railway Co. Ltd. 6,200   80,473
Rumo SA 14,100   52,420
Tobu Railway Co. Ltd. 3,300   78,817
Tokyu Corp. 9,300   123,510
West Japan Railway Co. 3,900   160,267
      4,240,101
Real Estate Development - 0.1%
C&D International Investment Group Ltd. 7,000   22,989
China Evergrande Group (a)(d) 87,000   4,572
China Jinmao Holdings Group Ltd. 64,972   12,648
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A 3,800   7,516
China Overseas Land & Investment Ltd. 40,000   96,499
China Resources Land Ltd. 32,000   145,722
China Vanke Co. Ltd., Class H 17,000   26,825
China Vanke Co. Ltd., Class A 300   663
CK Asset Holdings Ltd. 35,086   212,713
Country Garden Holdings Co. Ltd. 76,298   21,423
Dar Al Arkan Real Estate Development Co. (a) 5,114   21,951
Emaar Economic City (a) 5,150   11,087
Emaar Properties PJSC 66,748   101,991
Gemdale Corp., Class A 1,500   1,829
Godrej Properties Ltd. (a) 1,425   17,943
Greentown China Holdings Ltd. 8,000   10,354
Henderson Land Development Co. Ltd. 25,000   86,494
Land & Houses PCL NVDR 96,731   27,889
Longfor Group Holdings Ltd. (e) 17,968   50,676
Poly Developments & Holdings Group Co. Ltd., Class A 7,100   14,586
Ruentex Development Co. Ltd. 16,500   19,216
Seazen Holdings Co. Ltd., Class A (a) 1,400   3,322
Shimao Group Holdings Ltd. (a)(d) 16,102   2,267
Sino Land Co. Ltd. 60,272   81,507
Sunac China Holdings Ltd. (a)(d) 59,000   8,606
Yuexiu Property Co. Ltd. 13,063   19,751
      1,031,039
Real Estate Operating Companies - 0.1%
Aroundtown SA 23,282   33,342
Azrieli Group Ltd. 711   40,801
  Number
of Shares
  Fair
Value
Capitaland Investment Ltd. 45,600   $126,637
Central Pattana PCL NVDR 21,078   42,446
China Resources Mixc Lifestyle Services Ltd. (e) 7,200   37,856
Country Garden Services Holdings Co. Ltd. 20,715   35,714
Fastighets AB Balder, Class B (a) 14,275   58,703
Greentown Service Group Co. Ltd. 20,000   12,617
Hang Lung Properties Ltd. 43,000   80,462
Hongkong Land Holdings Ltd. 21,600   95,028
Hulic Co. Ltd. 6,500   53,338
LEG Immobilien SE 1,278   70,360
Mabanee Co. KPSC 7,055   16,790
NEPI Rockcastle NV 5,303   30,878
Sagax AB, Class B 3,688   85,087
SM Prime Holdings, Inc. 111,600   67,524
Swire Properties Ltd. 19,800   50,959
Swiss Prime Site AG 1,501   125,011
Vonovia SE 12,705   239,727
Wharf Real Estate Investment Co. Ltd. 31,000   178,477
      1,481,757
Real Estate Services - 0.0% *
China Overseas Property Holdings Ltd. 15,000   18,300
FirstService Corp. 800   112,568
KE Holdings, Inc. ADR (a) 6,700   126,228
      257,096
Regional Banks - 0.1%
AU Small Finance Bank Ltd. (e) 1,512   10,697
Bandhan Bank Ltd. (a)(e) 7,685   18,373
Bank of Chengdu Co. Ltd., Class A 400   790
Bank of Hangzhou Co. Ltd., Class A 5,547   9,380
Bank of Jiangsu Co. Ltd., Class A 7,000   7,165
Bank of Nanjing Co. Ltd., Class A 5,600   7,308
Bank of Ningbo Co. Ltd., Class A 4,756   18,904
Banque Cantonale Vaudoise 510   48,200
Chiba Bank Ltd. 9,000   57,951
Concordia Financial Group Ltd. 18,700   68,764
First BanCorp 8,218   93,850
OFG Bancorp 2,070   51,626
Popular, Inc. 852   48,913
Resona Holdings, Inc. 38,100   183,365
Shizuoka Financial Group, Inc. 8,500   60,893
      686,179
Reinsurance - 0.1%
Hannover Rueck SE 1,066   208,863
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 2,505   877,412
RenaissanceRe Holdings Ltd. 500   100,170
SiriusPoint Ltd. (a) 4,163   33,845
      1,220,290
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 83

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Renewable Electricity - 0.0% *
Adani Green Energy Ltd. (a) 3,339   $35,847
China Longyuan Power Group Corp. Ltd., Class H 35,000   39,928
China Three Gorges Renewables Group Co. Ltd., Class A 19,800   15,812
China Yangtze Power Co. Ltd., Class A 14,300   44,225
Corp. ACCIONA Energias Renovables SA 1,103   42,853
EDP Renovaveis SA 4,923   112,969
Energy Absolute PCL NVDR 17,020   37,865
Engie Brasil Energia SA 2,033   16,107
Meridian Energy Ltd. 22,207   73,098
Northland Power, Inc. 4,766   119,313
Terna Energy SA 583   12,443
      550,460
Research & Consulting Services - 0.2%
BayCurrent Consulting, Inc. 2,600   107,692
Bureau Veritas SA 5,173   148,900
Intertek Group PLC 2,836   142,368
Nihon M&A Center Holdings, Inc. 6,300   47,109
RELX PLC 34,275   1,112,626
SGS SA 113   249,632
Thomson Reuters Corp. 3,018   392,127
Wolters Kluwer NV 4,597   581,352
      2,781,806
Restaurants - 0.2%
Compass Group PLC 31,401   790,979
Delivery Hero SE (a)(e) 3,367   115,071
Haidilao International Holding Ltd. (a)(e) 12,000   32,522
Jiumaojiu International Holdings Ltd. (e) 7,000   16,641
Jollibee Foods Corp. 5,060   20,859
Jubilant Foodworks Ltd. 4,745   25,486
Just Eat Takeaway.com NV (a)(e) 3,139   60,009
McDonald's Holdings Co. Japan Ltd. 1,500   62,214
Meituan, Class B (a)(e) 51,207   929,003
Restaurant Brands International, Inc. 5,200   348,613
Sodexo SA 1,556   152,249
Yum China Holdings, Inc. 4,200   266,238
Zomato Ltd. (a) 30,179   18,872
      2,838,756
Retail REITs - 0.1%
CapitaLand Integrated Commercial Trust 104,259   155,641
Japan Metropolitan Fund Invest 121   88,151
Klepierre SA 3,742   84,992
Link REIT 44,868   288,510
Mapletree Pan Asia Commercial Trust 39,946   54,210
RioCan Real Estate Investment Trust 3,100   46,706
Scentre Group 91,524   169,748
Unibail-Rodamco-Westfield (a) 2,315   124,785
Vicinity Ltd. 75,271   98,634
      1,111,377
  Number
of Shares
  Fair
Value
Security & Alarm Services - 0.0% *
S-1 Corp. 184   $7,820
Secom Co. Ltd. 3,700   227,482
Securitas AB, Class B 8,468   75,397
      310,699
Semiconductor Materials & Equipment - 0.6%
Advanced Micro-Fabrication Equipment, Inc. China, Class A (a) 339   7,308
Advantest Corp. 3,300   305,207
ASM International NV 833   338,723
ASML Holding NV 7,255   4,952,794
Daqo New Energy Corp. ADR (a) 500   23,420
Disco Corp. 1,500   174,084
Flat Glass Group Co. Ltd., Class H 4,000   11,441
Flat Glass Group Co. Ltd., Class A 1,700   8,498
GCL Technology Holdings Ltd. (a) 200,000   51,764
Globalwafers Co. Ltd. 2,000   34,188
Hangzhou First Applied Material Co. Ltd., Class A 980   8,384
Kulicke & Soffa Industries, Inc. 2,532   133,411
Lasertec Corp. 1,400   248,162
NAURA Technology Group Co. Ltd., Class A 300   11,649
Shenzhen SC New Energy Technology Corp., Class A 100   1,667
SUMCO Corp. 6,100   91,551
TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A 1,800   12,691
Tokyo Electron Ltd. 8,100   987,203
Xinyi Solar Holdings Ltd. 49,985   59,922
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A 300   2,863
      7,464,930
Semiconductors - 0.6%
Allegro MicroSystems, Inc. (a) 700   33,593
ASE Technology Holding Co. Ltd. 35,000   129,887
eMemory Technology, Inc. 1,000   61,558
GigaDevice Semiconductor, Inc., Class A 560   9,979
Hangzhou Silan Microelectronics Co. Ltd., Class A 1,100   5,938
Hua Hong Semiconductor Ltd. (a)(e) 6,000   26,603
Inari Amertron Bhd 28,200   15,830
indie Semiconductor, Inc., Class A (a) 4,910   51,800
Infineon Technologies AG 23,355   960,801
Ingenic Semiconductor Co. Ltd., Class A 600   7,791
JA Solar Technology Co. Ltd., Class A 1,120   9,330
JCET Group Co. Ltd., Class A 2,000   9,470
LONGi Green Energy Technology Co. Ltd., Class A (a) 4,736   27,886
MediaTek, Inc. 15,000   388,892
Montage Technology Co. Ltd., Class A 361   3,665
Nanya Technology Corp. 15,000   32,900
 
See Notes to Schedule of Investments.
84 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Novatek Microelectronics Corp. 5,886   $83,643
Powerchip Semiconductor Manufacturing Corp. 27,000   29,497
Realtek Semiconductor Corp. 5,040   64,332
Renesas Electronics Corp. (a) 20,900   301,932
Rohm Co. Ltd. 1,700   141,354
SG Micro Corp., Class A 150   3,396
Shanghai Fudan Microelectronics Group Co. Ltd., Class H 3,000   11,086
Silergy Corp. 2,888   45,852
SK Hynix, Inc. 5,527   378,240
SK Square Co. Ltd. (a) 1,068   32,783
StarPower Semiconductor Ltd., Class A 100   4,005
STMicroelectronics NV 12,204   651,443
Taiwan Semiconductor Manufacturing Co. Ltd. 249,557   4,373,388
Tianshui Huatian Technology Co. Ltd., Class A 700   1,032
Tongwei Co. Ltd., Class A 3,300   18,710
Tower Semiconductor Ltd. (a) 1,888   80,380
Trina Solar Co. Ltd., Class A 1,600   12,130
Unigroup Guoxin Microelectronics Co. Ltd., Class A 419   6,782
United Microelectronics Corp. (a) 120,000   209,992
Vanguard International Semiconductor Corp. 8,330   26,648
Will Semiconductor Co. Ltd. Shanghai, Class A 540   7,185
Win Semiconductors Corp. 4,000   24,108
Winbond Electronics Corp. 28,000   24,499
      8,308,340
Silver - 0.0% *
Pan American Silver Corp. 6,500   118,439
Soft Drinks & Non-alcoholic Beverages - 0.1%
Arca Continental SAB de CV 4,500   40,783
Carabao Group PCL NVDR 1,735   4,873
Coca-Cola Europacific Partners PLC 3,700   219,003
Coca-Cola Femsa SAB de CV 5,315   42,603
Coca-Cola HBC AG (a) 3,918   107,504
Fomento Economico Mexicano SAB de CV 19,700   187,442
Nongfu Spring Co. Ltd., Class H (e) 18,200   104,937
Suntory Beverage & Food Ltd. 2,400   89,185
Varun Beverages Ltd. 2,000   33,840
      830,170
Specialized Consumer Services - 0.0% *
OneSpaWorld Holdings Ltd. (a) 2,988   35,826
Specialized Finance - 0.0% *
Banco Latinoamericano de Comercio Exterior SA Class E 1,257   21,847
Chailease Holding Co. Ltd. 14,805   108,881
Element Fleet Management Corp. 7,700   100,990
Far East Horizon Ltd. 23,000   20,654
Mitsubishi HC Capital, Inc. 11,300   58,212
      310,584
  Number
of Shares
  Fair
Value
Specialty Chemicals - 0.4%
Akzo Nobel NV 3,219   $252,226
Arkema SA 1,173   116,027
Asian Paints Ltd. 3,882   130,791
Chengxin Lithium Group Co. Ltd., Class A 500   2,513
Chr Hansen Holding AS 2,071   157,836
Clariant AG (a) 3,686   61,242
Covestro AG (e) 3,394   140,809
Croda International PLC 2,468   198,820
Dongyue Group Ltd. 17,000   17,571
EMS-Chemie Holding AG 136   112,594
Evonik Industries AG 3,620   76,299
Ganfeng Lithium Group Co. Ltd., Class A 940   9,113
Ganfeng Lithium Group Co. Ltd., Class H (e) 3,640   22,682
Givaudan SA 165   537,863
Hoshine Silicon Industry Co. Ltd., Class A 200   2,420
Johnson Matthey PLC 3,169   77,872
JSR Corp. 3,061   72,240
Koninklijke DSM NV 3,112   368,950
Nippon Paint Holdings Co. Ltd. 16,300   152,908
Nitto Denko Corp. 2,500   161,420
Novozymes AS, Class B 3,610   185,188
Shanghai Putailai New Energy Technology Co. Ltd., Class A 1,240   9,032
Shenzhen Capchem Technology Co. Ltd., Class A 180   1,283
Shin-Etsu Chemical Co. Ltd. 33,500   1,084,870
Sika AG 2,610   733,215
SK IE Technology Co. Ltd. (a)(e) 261   14,401
Symrise AG 2,354   256,632
Tianqi Lithium Corp., Class A (a) 700   7,711
Umicore SA 4,105   139,497
Wanhua Chemical Group Co. Ltd., Class A 2,000   27,894
Zhejiang Yongtai Technology Co. Ltd., Class A 600   1,831
      5,133,750
Steel - 0.2%
ArcelorMittal SA 9,346   283,658
Baoshan Iron & Steel Co. Ltd., Class A 10,700   9,722
BlueScope Steel Ltd. 9,068   122,977
China Steel Corp. 122,000   123,947
Cia Siderurgica Nacional SA 6,300   19,185
Eregli Demir ve Celik Fabrikalari TAS (a) 12,313   22,765
Fortescue Metals Group Ltd. 30,173   454,430
Hyundai Steel Co. 790   21,118
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A 42,400   11,680
JFE Holdings, Inc. 8,600   108,897
Jindal Steel & Power Ltd. 4,252   28,374
JSW Steel Ltd. 7,366   61,850
Kumba Iron Ore Ltd. 476   12,078
Nippon Steel Corp. 14,400   338,770
Novolipetsk Steel PJSC GDR (a)(d)** 2,290  
Novolipetsk Steel PJSC (a)(d)** 4,980  
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 85

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A (a) 10,100   $7,263
POSCO Holdings, Inc. 794   224,639
Severstal PAO GDR (a)(d)** 3,070  
Severstal PAO (a)(d)** 695  
Shanxi Meijin Energy Co. Ltd., Class A 3,500   4,685
Shanxi Taigang Stainless Steel Co. Ltd., Class A 6,700   4,238
Tata Steel Ltd. 74,240   94,839
Vale SA 38,740   613,468
voestalpine AG 1,997   68,026
YongXing Special Materials Technology Co. Ltd., Class A 200   2,454
      2,639,063
Systems Software - 0.0% *
360 Security Technology, Inc., Class A 4,700   11,970
Check Point Software Technologies Ltd. (a) 1,803   234,390
Oracle Corp. Japan 637   45,896
Sangfor Technologies, Inc., Class A 300   6,473
Tata Elxsi Ltd. 366   26,650
TOTVS SA 4,738   26,315
Trend Micro, Inc. 2,600   127,255
      478,949
Technology Distributors - 0.0% *
Synnex Technology International Corp. 13,178   26,588
Unisplendour Corp. Ltd., Class A 3,100   13,246
WPG Holdings Ltd. 15,938   26,334
      66,168
Technology Hardware, Storage & Peripherals - 0.3%
Acer, Inc. 26,000   24,098
Advantech Co. Ltd. 4,000   48,935
Asustek Computer, Inc. 7,053   63,280
Brother Industries Ltd. 4,000   60,121
Canon, Inc. 17,800   395,465
Catcher Technology Co. Ltd. 7,000   43,759
Compal Electronics, Inc. 42,225   35,068
FUJIFILM Holdings Corp. 6,415   324,874
Inventec Corp. 25,249   26,539
Lenovo Group Ltd. 74,000   80,172
Lite-On Technology Corp. ADR 19,693   47,404
Logitech International SA 3,051   178,349
Micro-Star International Co. Ltd. 6,000   28,519
Ninestar Corp., Class A 1,200   7,842
Pegatron Corp. 23,251   53,353
Quanta Computer, Inc. 27,507   80,583
Ricoh Co. Ltd. 10,600   79,324
Samsung Electronics Co. Ltd. 48,341   2,390,509
Seiko Epson Corp. 5,900   84,100
Shenzhen Transsion Holdings Co. Ltd., Class A 350   5,162
Wiwynn Corp. 1,000   37,101
Xiaomi Corp., Class B (a)(e) 154,600   237,920
      4,332,477
  Number
of Shares
  Fair
Value
Textiles - 0.0% *
Eclat Textile Co. Ltd. 2,000   $32,656
Tires & Rubber - 0.1%
Balkrishna Industries Ltd. 655   15,595
Bridgestone Corp. 10,196   413,209
Cheng Shin Rubber Industry Co. Ltd. 20,000   24,050
Cie Generale des Etablissements Michelin SCA 12,075   369,776
Hankook Tire & Technology Co. Ltd. 729   19,499
MRF Ltd. 20   20,485
Sailun Group Co. Ltd., Class A 2,300   3,627
Shandong Linglong Tyre Co. Ltd., Class A 1,500   4,273
      870,514
Tobacco - 0.2%
British American Tobacco PLC 38,336   1,346,950
Imperial Brands PLC 15,940   367,398
ITC Ltd. 30,240   141,489
Japan Tobacco, Inc. 21,400   450,974
KT&G Corp. 1,149   73,844
Smoore International Holdings Ltd. (e) 19,000   24,323
      2,404,978
Trading Companies & Distributors - 0.4%
Adani Enterprises Ltd. 2,885   61,735
AerCap Holdings NV (a) 2,900   163,067
Ashtead Group PLC 7,832   482,034
BOC Aviation Ltd. (e) 2,700   20,938
Brenntag SE 2,732   205,970
Bunzl PLC 5,978   226,326
IMCD NV 1,004   164,465
ITOCHU Corp. 21,205   688,937
Marubeni Corp. 27,500   373,107
Mitsubishi Corp. 22,400   803,071
Mitsui & Co. Ltd. 25,600   796,059
MonotaRO Co. Ltd. 5,200   65,342
Reece Ltd. 3,780   44,387
Sichuan New Energy Power Co. Ltd. (a) 800   1,859
Sumitomo Corp. 20,000   353,468
Textainer Group Holdings Ltd. 1,928   61,908
Toromont Industries Ltd. 1,500   122,951
Toyota Tsusho Corp. 3,700   157,384
Triton International Ltd. 2,644   167,154
      4,960,162
Transaction & Payment Processing Services - 0.1%
Adyen NV (a)(e) 387   617,765
Edenred 4,427   262,482
EVERTEC, Inc. 2,695   90,956
GMO Payment Gateway, Inc. 900   77,735
Nexi SpA (a)(e) 10,218   83,193
Nuvei Corp. (a)(e) 1,100   47,858
StoneCo Ltd., Class A (a) 12,604   120,242
Worldline SA (a)(e) 4,222   179,751
      1,479,982
Water Utilities - 0.0% *
Beijing Enterprises Water Group Ltd. 50,000   12,494
 
See Notes to Schedule of Investments.
86 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Cia de Saneamento Basico do Estado de Sao Paulo SABESP 3,500   $34,936
Guangdong Investment Ltd. 32,000   32,735
Severn Trent PLC 4,427   157,623
United Utilities Group PLC 12,003   157,452
      395,240
Wireless Telecommunication Services - 0.3%
Advanced Info Service PCL NVDR 12,507   77,582
America Movil SAB de CV 280,700   294,287
Axiata Group Bhd 32,600   22,298
Bharti Airtel Ltd. 22,524   205,408
CELCOMDIGI BHD 27,800   27,380
China United Network Communications Ltd., Class A 14,400   11,369
Etihad Etisalat Co. 4,492   49,527
Far EasTone Telecommunications Co. Ltd. 16,000   39,542
Intouch Holdings PCL NVDR 5,600   12,135
Intouch Holdings PCL 6,200   13,417
KDDI Corp. 29,108   895,501
Maxis Bhd 27,100   25,407
Mobile Telecommunications Co. KSCP 22,097   38,980
Mobile Telecommunications Co. Saudi Arabia (a) 4,457   15,477
Mobile TeleSystems PJSC ADR (a)(d)** 6,600  
Mobile TeleSystems PJSC (d)** 3,970  
MTN Group Ltd. (a) 17,502   125,834
PLDT, Inc. 960   25,140
Rogers Communications, Inc., Class B 6,300   291,596
SoftBank Corp. 51,300   590,795
SoftBank Group Corp. 21,600   847,162
Taiwan Mobile Co. Ltd. 17,946   59,546
Tele2 AB, Class B 9,875   98,376
TELUS Corp. 221   4,381
TIM SA 10,600   26,300
Turkcell Iletisim Hizmetleri AS 8,295   13,870
Vodacom Group Ltd. 6,504   44,737
Vodafone Group PLC 465,050   514,181
      4,370,228
Total Common Stock
(Cost $350,648,939)
    354,756,690
Preferred Stock - 0.2%
Automobile Manufacturers - 0.1%
Bayerische Motoren Werke AG 6.18% 1,159   118,684
Dr Ing hc F Porsche AG (a) 2,019   259,603
Hyundai Motor Co. 7.41% 417   30,803
Hyundai Motor Co. 7.47% 29   2,108
Porsche Automobil Holding SE 4.84% 2,695   154,990
Volkswagen AG 21.22% 3,308   452,262
      1,018,450
Commodity Chemicals - 0.0% *
LG Chem Ltd. 3.24% 89   21,325
Diversified Banks - 0.1%
Banco Bradesco SA 7.64% 54,021   140,320
  Number
of Shares
  Fair
Value
Bancolombia SA 11.05% 4,359   $27,299
Itau Unibanco Holding SA 5.12% 49,000   239,093
Itausa SA 5.58% 54,538   88,418
      495,130
Diversified Capital Markets - 0.0% *
Banco BTG Pactual SA 3.12% 4   4
Electric Utilities - 0.0% *
Centrais Eletricas Brasileiras SA 4.45% 2,600   18,604
Cia Energetica de Minas Gerais 12.61% 14,729   33,233
      51,837
Fertilizers & Agricultural Chemicals - 0.0% *
Sociedad Quimica y Minera de Chile SA 10.63% 1,519   122,717
Household Products - 0.0% *
Henkel AG & Co. KGaA 2.58% 3,156   247,350
Integrated Oil & Gas - 0.0% *
Petroleo Brasileiro SA 44.87% 48,200   222,926
Surgutneftegas PJSC 14.99% (d)** 115,200  
      222,926
Life Sciences Tools & Services - 0.0% *
Sartorius AG 0.37% 430   181,552
Steel - 0.0% *
Gerdau SA 14.42% 12,180   60,753
Technology Hardware, Storage & Peripherals - 0.0% *
Samsung Electronics Co. Ltd. 2.01% 8,329   346,608
Total Preferred Stock
(Cost $2,932,048)
    2,768,652
Warrants - 0.0% *
Rail Transportation - 0.0% *
BTS Group Holdings PCL (expiring 07/11/24) (a) 9,760   28
BTS Group Holdings PCL (expiring 11/20/26) (a) 19,520   92
Total Warrants
(Cost $0)
    120
Total Foreign Equity
(Cost $353,580,987)
    357,525,462
    
  Principal
Amount
 
Bonds and Notes - 14.8%
U.S. Treasuries - 8.7%
U.S. Treasury Bonds    
1.25% 05/15/50 $200,000 116,312
1.63% 11/15/50 200,000 128,344
1.88% 02/15/51 - 11/15/51 575,000 392,359
2.00% 02/15/50 - 08/15/51 1,000,000 706,359
2.25% 08/15/46 - 02/15/52 715,000 537,442
2.38% 11/15/49 - 05/15/51 665,000 512,291
2.50% 02/15/45 - 05/15/46 485,000 386,151
2.75% 11/15/42 - 11/15/47 675,000 563,649
2.88% 08/15/45 - 05/15/52 1,135,000 970,344
3.00% 11/15/44 - 08/15/52 2,350,000 2,051,953
3.13% 02/15/43 - 05/15/48 800,000 715,906
3.38% 08/15/42 - 11/15/48 825,000 772,231
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 87

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
3.63% 02/15/44 - 02/15/53 $465,000   $458,077
3.88% 02/15/43 125,000   126,113
4.00% 11/15/42 - 11/15/52 1,175,000   1,225,074
4.25% 05/15/39 - 11/15/40 200,000   215,140
4.38% 02/15/38 - 05/15/40 200,000   218,516
4.50% 02/15/36 100,000   111,094
4.63% 02/15/40 100,000   112,437
5.25% 02/15/29 200,000   216,719
5.50% 08/15/28 200,000   217,594
6.00% 02/15/26 427,000   450,652
6.13% 08/15/29 200,000   228,219
6.38% 08/15/27 200,000   221,172
7.63% 02/15/25 200,000   212,312
U.S. Treasury Inflation-Indexed Bonds      
0.13% 02/15/51 - 02/15/52 1,761,153   1,221,532
0.25% 02/15/50 878,337   637,586
0.63% 02/15/43 780,546   658,604
0.75% 02/15/42 - 02/15/45 2,388,624   2,059,147
0.88% 02/15/47 842,540   728,719
1.00% 02/15/46 - 02/15/49 1,855,938   1,652,794
1.38% 02/15/44 1,103,672   1,068,476
1.50% 02/15/53 503,095   511,226
1.75% 01/15/28 749,465   767,435
2.00% 01/15/26 753,470   764,938
2.13% 02/15/40 - 02/15/41 1,304,249   1,439,524
2.38% 01/15/25 - 01/15/27 2,511,090   2,567,358
2.50% 01/15/29 1,044,810   1,119,285
3.38% 04/15/32 421,258   498,215
3.63% 04/15/28 980,087   1,094,549
3.88% 04/15/29 1,182,597   1,363,267
U.S. Treasury Inflation-Indexed Notes      
0.13% 07/15/24 - 01/15/32 26,742,968   25,371,519
0.25% 01/15/25 - 07/15/29 4,054,985   3,911,048
0.38% 07/15/25 - 07/15/27 6,027,106   5,849,053
0.50% 04/15/24 - 01/15/28 3,326,783   3,240,523
0.63% 01/15/26 - 07/15/32 4,555,469   4,397,672
0.75% 07/15/28 1,769,422   1,735,871
0.88% 01/15/29 1,385,888   1,361,993
1.13% 01/15/33 1,606,954   1,602,924
1.63% 10/15/27 2,094,969   2,136,385
U.S. Treasury Notes      
0.25% 05/31/25 - 09/30/25 2,000,000   1,836,610
0.38% 08/15/24 - 09/30/27 2,100,000   1,899,464
0.50% 03/31/25 - 02/28/26 1,000,000   920,762
0.63% 11/30/27 - 08/15/30 1,175,000   1,000,606
0.75% 03/31/26 500,000   457,500
0.88% 11/15/30 300,000   248,344
1.13% 02/28/25 - 02/15/31 1,425,000   1,255,891
1.25% 04/30/28 - 05/31/28 750,000   667,265
1.38% 01/31/25 - 12/31/28 850,000   789,593
1.50% 09/30/24 - 02/15/30 1,900,000   1,767,718
1.63% 02/15/26 - 08/15/29 300,000   276,071
1.75% 06/30/24 - 11/15/29 750,000   682,429
1.88% 06/30/26 - 02/15/32 1,100,000   997,172
2.00% 02/15/25 - 11/15/26 1,494,000   1,430,658
2.13% 09/30/24 - 05/31/26 800,000   769,183
2.25% 10/31/24 - 11/15/27 3,290,000   3,154,008
2.38% 08/15/24 - 05/15/29 1,950,000   1,838,805
2.50% 01/31/25 750,000   728,174
2.63% 12/31/25 - 07/31/29 1,350,000   1,284,586
2.75% 02/28/25 - 05/31/29 1,550,000   1,491,918
2.88% 11/30/25 - 05/15/32 2,280,000   2,199,317
3.00% 06/30/24 - 09/30/25 700,000   686,157
  Principal
Amount
  Fair
Value
3.13% 08/15/25 - 08/31/29 $1,250,000   $1,221,211
3.25% 08/31/24 - 06/30/29 1,150,000   1,130,617
3.50% 01/31/28 - 02/15/33 1,650,000   1,647,059
3.63% 03/31/28 - 03/31/30 500,000   501,660
3.88% 03/31/25 - 11/30/29 2,025,000   2,049,795
4.00% 12/15/25 - 02/28/30 2,050,000   2,079,500
4.13% 10/31/27 - 11/15/32 1,075,000   1,117,133
4.25% 09/30/24 - 10/15/25 950,000   951,668
4.38% 10/31/24 750,000   750,850
4.50% 11/30/24 1,000,000   1,003,867
4.63% 02/28/25 250,000   252,432
      118,714,126
Agency Mortgage Backed - 2.8%
Federal Farm Credit Banks Funding Corp.      
3.38% 08/26/24 250,000   246,552
Federal Home Loan Banks      
1.88% 09/11/26 500,000   465,660
3.25% 11/16/28 125,000   121,689
Federal Home Loan Mortgage Corp.      
1.50% 04/01/37 - 11/01/51 918,677   744,291
2.00% 01/01/37 - 03/01/52 2,938,569   2,450,598
2.50% 07/01/28 - 05/01/52 2,864,386   2,480,604
3.00% 07/01/30 - 06/01/51 1,613,244   1,494,908
3.50% 03/01/26 - 09/01/52 1,283,850   1,212,358
4.00% 06/01/42 - 08/01/48 406,190   396,703
4.50% 05/01/42 - 11/01/48 75,855   75,725
5.00% 10/01/52 - 12/01/52 220,910   222,342
5.50% 01/01/38 - 04/01/39 138,303   145,055
6.00% 06/01/37 - 11/01/37 127,686   135,331
6.25% 07/15/32 250,000   297,930
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates      
4.35% 01/25/33 100,000   100,904
Federal National Mortgage Association      
1.50% 04/01/36 - 03/01/51 1,013,949   858,474
1.75% 07/02/24 225,000   217,069
2.00% 11/01/35 - 03/01/52 8,194,672   6,940,601
2.13% 04/24/26 200,000   189,936
2.50% 09/01/28 - 03/01/52 4,046,440   3,535,185
3.00% 04/01/30 - 05/01/52 3,308,873   3,049,191
3.50% 01/01/27 - 02/01/50 1,479,667   1,399,983
4.00% 10/01/41 - 08/01/52 1,396,033   1,357,924
4.50% 01/01/27 - 09/01/49 404,640   404,430
5.00% 12/01/39 - 02/01/53 627,018   628,352
5.50% 12/01/35 - 04/01/38 474,678   494,059
6.00% 03/01/34 - 08/01/37 624,017   659,281
Government National Mortgage Association      
2.00% 10/20/50 - 04/20/52 2,098,148   1,784,645
2.50% 07/20/50 - 01/20/52 1,858,550   1,639,060
3.00% 10/15/42 - 12/20/50 1,661,669   1,532,885
3.50% 11/20/43 - 08/20/49 1,266,516   1,209,922
4.00% 12/20/40 - 10/20/52 848,245   830,222
4.50% 05/20/40 - 01/20/53 441,842   440,361
5.00% 08/15/41 471,568   485,258
Tennessee Valley Authority      
3.50% 12/15/42 100,000   84,719
      38,332,207
 
See Notes to Schedule of Investments.
88 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Agency Collateralized Mortgage Obligations - 0.1%
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates      
1.48% 04/25/30 $69,643   $58,257
1.56% 04/25/30 40,000   33,613
1.87% 01/25/30 58,333   50,333
3.78% 08/25/28 170,703   167,801
3.90% 04/25/28 100,000   98,561
Federal National Mortgage Association-Aces      
1.27% 07/25/30 80,000   65,161
1.46% 03/25/31 (f) 145,000   117,608
1.67% 10/25/31 (f) 100,000   81,505
2.70% 02/25/26 161,496   154,326
3.06% 06/25/27 (f) 179,563   171,874
      999,039
Asset Backed - 0.1%
American Express Credit Account Master Trust      
0.90% 11/15/26 184,000   172,611
BA Credit Card Trust      
0.44% 09/15/26 9,000   8,553
Capital One Multi-Asset Execution Trust      
3.49% 05/15/27 100,000   97,440
Carvana Auto Receivables Trust      
1.64% 12/10/27 150,000   134,332
Discover Card Execution Note Trust      
1.03% 09/15/28 81,000   72,229
Hyundai Auto Receivables Trust      
0.74% 05/15/26 100,000   95,363
      580,528
Corporate Notes - 2.8%
3M Co.      
3.38% 03/01/29 25,000   23,571
AbbVie, Inc.      
2.95% 11/21/26 25,000   23,790
3.20% 05/14/26 50,000   48,270
3.80% 03/15/25 75,000   73,790
4.25% 11/14/28 - 11/21/49 60,000   54,612
4.30% 05/14/36 50,000   47,007
4.85% 06/15/44 50,000   47,741
4.88% 11/14/48 25,000   24,013
Activision Blizzard, Inc.      
2.50% 09/15/50 50,000   33,422
Adobe, Inc.      
3.25% 02/01/25 70,000   68,603
Advocate Health & Hospitals Corp.      
3.39% 10/15/49 25,000   19,022
AEP Texas, Inc.      
3.45% 05/15/51 35,000   25,630
AerCap Ireland Capital DAC/AerCap Global Aviation Trust      
4.45% 04/03/26 250,000   239,790
Aflac, Inc.      
2.88% 10/15/26 100,000   94,368
Agilent Technologies, Inc.      
2.75% 09/15/29 25,000   22,405
Agree LP      
4.80% 10/01/32 15,000   14,185
  Principal
Amount
  Fair
Value
Air Lease Corp.      
3.25% 10/01/29 $100,000   $87,660
Air Products & Chemicals, Inc.      
2.05% 05/15/30 10,000   8,641
2.70% 05/15/40 25,000   19,103
Aircastle Ltd.      
4.13% 05/01/24 20,000   19,550
Alabama Power Co.      
3.45% 10/01/49 50,000   37,500
Albemarle Corp.      
5.05% 06/01/32 25,000   24,463
Alexandria Real Estate Equities, Inc.      
4.85% 04/15/49 50,000   43,417
Alibaba Group Holding Ltd.      
4.00% 12/06/37 100,000   85,126
Allegion PLC      
3.50% 10/01/29 15,000   13,572
Allina Health System      
2.90% 11/15/51 10,000   6,546
Ally Financial, Inc.      
8.00% 11/01/31 50,000   52,284
Alphabet, Inc.      
0.80% 08/15/27 50,000   43,856
2.05% 08/15/50 50,000   31,759
2.25% 08/15/60 25,000   15,301
Altria Group, Inc.      
5.80% 02/14/39 65,000   63,578
Amazon.com, Inc.      
1.65% 05/12/28 50,000   44,271
2.10% 05/12/31 50,000   42,728
2.50% 06/03/50 75,000   50,769
3.00% 04/13/25 75,000   73,134
3.15% 08/22/27 50,000   47,993
3.30% 04/13/27 25,000   24,189
3.60% 04/13/32 25,000   23,707
3.95% 04/13/52 25,000   22,185
4.10% 04/13/62 25,000   22,000
4.25% 08/22/57 50,000   45,641
Amcor Flexibles North America, Inc.      
4.00% 05/17/25 15,000   14,692
Ameren Illinois Co.      
3.85% 09/01/32 50,000   47,329
America Movil SAB de CV      
6.13% 03/30/40 100,000   108,148
American Airlines Pass-Through Trust      
3.15% 08/15/33 41,864   36,400
American Express Co.      
3.00% 10/30/24 100,000   97,528
3.38% 05/03/24 25,000   24,515
3.63% 12/05/24 50,000   48,786
American Express Co. (4.42% fixed rate until 08/03/32; 1.76% + SOFR thereafter)      
4.42% 08/03/33 (f) 50,000   47,938
American Homes 4 Rent LP      
3.63% 04/15/32 20,000   17,337
American Honda Finance Corp.      
0.75% 08/09/24 50,000   47,391
American International Group, Inc.      
2.50% 06/30/25 17,000   16,094
4.20% 04/01/28 75,000   73,178
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 89

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
American Tower Corp.      
2.40% 03/15/25 $75,000   $71,146
3.13% 01/15/27 150,000   139,708
4.05% 03/15/32 10,000   9,153
American Water Capital Corp.      
3.45% 06/01/29 50,000   46,963
4.00% 12/01/46 100,000   81,961
Ameriprise Financial, Inc.      
4.50% 05/13/32 10,000   9,607
AmerisourceBergen Corp.      
3.45% 12/15/27 50,000   47,488
Amgen, Inc.      
3.35% 02/22/32 30,000   27,044
4.20% 03/01/33 25,000   23,966
4.56% 06/15/48 50,000   45,312
5.65% 06/15/42 100,000   103,540
Amphenol Corp.      
4.35% 06/01/29 25,000   24,944
Analog Devices, Inc.      
3.50% 12/05/26 75,000   72,776
Anheuser-Busch InBev Worldwide, Inc.      
4.00% 04/13/28 55,000   54,215
8.00% 11/15/39 150,000   192,922
Aon Corp./Aon Global Holdings PLC      
2.05% 08/23/31 50,000   40,434
2.60% 12/02/31 35,000   29,368
5.00% 09/12/32 50,000   50,433
Appalachian Power Co.      
4.45% 06/01/45 100,000   85,410
4.50% 08/01/32 45,000   43,213
Apple, Inc.      
0.55% 08/20/25 50,000   46,083
1.13% 05/11/25 50,000   46,917
1.70% 08/05/31 50,000   41,582
2.80% 02/08/61 50,000   34,058
3.45% 02/09/45 50,000   42,947
4.10% 08/08/62 25,000   22,308
4.38% 05/13/45 65,000   63,066
Applied Materials, Inc.      
1.75% 06/01/30 75,000   62,998
Aptiv PLC/Aptiv Corp.      
2.40% 02/18/25 20,000   19,041
4.15% 05/01/52 15,000   11,724
Arch Capital Finance LLC      
5.03% 12/15/46 50,000   44,616
Archer-Daniels-Midland Co.      
4.02% 04/16/43 50,000   44,410
Ares Capital Corp.      
4.20% 06/10/24 100,000   96,815
Arizona Public Service Co.      
4.25% 03/01/49 25,000   20,472
Arrow Electronics, Inc.      
4.00% 04/01/25 40,000   38,840
Ascension Health      
3.95% 11/15/46 50,000   43,333
Asian Development Bank      
1.00% 04/14/26 50,000   45,909
1.88% 01/24/30 75,000   66,740
3.13% 09/26/28 25,000   24,261
6.22% 08/15/27 200,000   215,324
Asian Infrastructure Investment Bank      
3.75% 09/14/27 100,000   99,294
  Principal
Amount
  Fair
Value
Assurant, Inc.      
4.90% 03/27/28 $50,000   $49,086
AstraZeneca PLC      
4.00% 01/17/29 20,000   19,709
6.45% 09/15/37 50,000   58,965
AT&T, Inc.      
2.25% 02/01/32 25,000   20,417
3.50% 06/01/41 50,000   39,466
3.65% 09/15/59 200,000   142,902
4.75% 05/15/46 50,000   45,003
Athene Holding Ltd.      
3.50% 01/15/31 10,000   8,335
Atmos Energy Corp.      
4.30% 10/01/48 50,000   44,363
5.45% 10/15/32 15,000   15,844
Australia & New Zealand Banking Group Ltd.      
3.70% 11/16/25 50,000   48,763
Automatic Data Processing, Inc.      
1.70% 05/15/28 20,000   17,860
AutoNation, Inc.      
2.40% 08/01/31 50,000   38,405
AutoZone, Inc.      
3.75% 04/18/29 50,000   47,019
AvalonBay Communities, Inc.      
2.05% 01/15/32 35,000   28,140
3.90% 10/15/46 50,000   39,292
Baltimore Gas & Electric Co.      
4.55% 06/01/52 5,000   4,554
Banco Santander SA (4.18% fixed rate until 03/24/27; 2.00% + 1 year CMT Rate thereafter)      
4.18% 03/24/28 (f) 100,000   93,791
Bank of America Corp.      
4.18% 11/25/27 50,000   48,360
5.00% 01/21/44 50,000   48,781
6.11% 01/29/37 100,000   105,473
Bank of America Corp. (2.57% fixed rate until 10/20/31; 1.21% + SOFR thereafter)      
2.57% 10/20/32 (f) 25,000   20,436
Bank of America Corp. (2.88% fixed rate until 10/22/29; 1.19% + 3 month USD LIBOR thereafter)      
2.88% 10/22/30 (f) 100,000   86,966
Bank of America Corp. (3.19% fixed rate until 07/23/29; 1.18% + 3 month USD LIBOR thereafter)      
3.19% 07/23/30 (f) 50,000   44,416
Bank of America Corp. (3.42% fixed rate until 12/20/27; 1.04% + 3 month USD LIBOR thereafter)      
3.42% 12/20/28 (f) 107,000   99,495
Bank of America Corp. (4.24% fixed rate until 04/24/37; 1.81% + 3 month USD LIBOR thereafter)      
4.24% 04/24/38 (f) 50,000   44,988
Bank of America Corp. (4.38% fixed rate until 04/27/27; 1.58% + SOFR thereafter)      
4.38% 04/27/28 (f) 50,000   48,477
 
See Notes to Schedule of Investments.
90 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Bank of America Corp. (4.83% fixed rate until 07/22/25; 1.75% + SOFR thereafter)      
4.83% 07/22/26 (f) $250,000   $247,007
Bank of Montreal      
4.70% 09/14/27 25,000   24,832
Bank of New York Mellon Corp.      
2.50% 01/26/32 25,000   20,665
3.85% 04/26/29 25,000   23,958
Bank of New York Mellon Corp. (4.41% fixed rate until 07/24/25; 1.35% + SOFR thereafter)      
4.41% 07/24/26 (f) 25,000   24,722
Bank of Nova Scotia      
1.95% 02/02/27 25,000   22,620
2.95% 03/11/27 50,000   46,672
4.50% 12/16/25 75,000   73,503
Banner Health      
2.34% 01/01/30 75,000   64,866
Barclays PLC (3.56% fixed rate until 09/23/30; 2.90% + 5 year CMT Rate thereafter)      
3.56% 09/23/35 (f) 100,000   78,545
Barclays PLC (4.97% fixed rate until 05/16/28; 1.90% + 3 month USD LIBOR thereafter)      
4.97% 05/16/29 (f) 100,000   96,455
Barclays PLC (5.09% fixed rate until 06/20/29; 3.05% + 3 month USD LIBOR thereafter)      
5.09% 06/20/30 (f) 100,000   93,237
BAT Capital Corp.      
3.98% 09/25/50 25,000   17,027
4.39% 08/15/37 50,000   40,812
Baxalta, Inc.      
5.25% 06/23/45 75,000   73,785
Becton Dickinson & Co.      
3.70% 06/06/27 66,000   63,796
4.30% 08/22/32 10,000   9,687
Bell Telephone Co. of Canada or Bell Canada      
4.30% 07/29/49 30,000   25,688
Berkshire Hathaway Finance Corp.      
2.88% 03/15/32 25,000   22,505
BHP Billiton Finance USA Ltd.      
6.42% 03/01/26 150,000   156,937
Biogen, Inc.      
4.05% 09/15/25 100,000   97,718
Black Hills Corp.      
4.35% 05/01/33 30,000   27,552
BlackRock, Inc.      
2.40% 04/30/30 20,000   17,560
3.25% 04/30/29 60,000   57,124
Boardwalk Pipelines LP      
3.60% 09/01/32 25,000   21,548
Boeing Co.      
3.20% 03/01/29 50,000   45,536
3.75% 02/01/50 25,000   18,876
5.71% 05/01/40 50,000   50,442
Booking Holdings, Inc.      
3.60% 06/01/26 75,000   73,134
Boston Properties LP      
2.55% 04/01/32 75,000   53,379
3.40% 06/21/29 50,000   40,791
  Principal
Amount
  Fair
Value
Boston Scientific Corp.      
4.55% 03/01/39 $50,000   $46,898
BP Capital Markets America, Inc.      
2.72% 01/12/32 35,000   30,544
2.77% 11/10/50 25,000   16,831
3.94% 09/21/28 25,000   24,470
4.23% 11/06/28 50,000   49,556
BPCE SA      
4.00% 04/15/24 50,000   49,085
Brandywine Operating Partnership LP      
4.55% 10/01/29 25,000   18,656
Brighthouse Financial, Inc.      
3.85% 12/22/51 50,000   31,896
Bristol-Myers Squibb Co.      
3.40% 07/26/29 17,000   16,141
3.55% 03/15/42 15,000   12,781
4.13% 06/15/39 15,000   13,966
British Telecommunications PLC      
9.63% 12/15/30 50,000   62,559
Brixmor Operating Partnership LP      
3.90% 03/15/27 150,000   138,942
Broadcom, Inc.      
3.50% 02/15/41 (e) 50,000   37,679
4.30% 11/15/32 25,000   22,975
Brookfield Corp.      
4.00% 01/15/25 75,000   73,612
Brookfield Finance, Inc.      
3.90% 01/25/28 50,000   46,319
Brown & Brown, Inc.      
4.20% 03/17/32 15,000   13,515
Burlington Northern Santa Fe LLC      
3.75% 04/01/24 50,000   49,314
5.40% 06/01/41 50,000   52,104
5.75% 05/01/40 75,000   80,761
California Institute of Technology      
3.65% 09/01/19 20,000   14,071
Camden Property Trust      
3.35% 11/01/49 10,000   7,375
4.10% 10/15/28 10,000   9,668
Campbell Soup Co.      
2.38% 04/24/30 15,000   12,855
Canadian Imperial Bank of Commerce      
3.60% 04/07/32 10,000   9,101
3.95% 08/04/25 25,000   24,378
Canadian National Railway Co.      
2.95% 11/21/24 55,000   53,495
3.85% 08/05/32 25,000   23,760
Canadian Pacific Railway Co.      
2.05% 03/05/30 20,000   16,996
2.90% 02/01/25 50,000   48,144
Capital One Financial Corp.      
4.20% 10/29/25 75,000   70,122
Capital One Financial Corp. (2.62% fixed rate until 11/02/31; 1.27% + SOFR thereafter)      
2.62% 11/02/32 (f) 25,000   19,235
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 91

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Capital One Financial Corp. (4.17% fixed rate until 05/09/24; 1.37% + SOFR thereafter)      
4.17% 05/09/25 (f) $50,000   $48,429
Capital One Financial Corp. (5.25% fixed rate until 07/26/29; 2.60% + SOFR thereafter)      
5.25% 07/26/30 (f) 50,000   47,491
Cardinal Health, Inc.      
3.50% 11/15/24 75,000   73,153
Carlisle Cos., Inc.      
2.20% 03/01/32 50,000   38,844
Carrier Global Corp.      
2.24% 02/15/25 65,000   62,049
2.49% 02/15/27 15,000   13,911
3.58% 04/05/50 25,000   18,926
Caterpillar Financial Services Corp.      
2.85% 05/17/24 25,000   24,506
3.60% 08/12/27 50,000   48,932
Caterpillar, Inc.      
3.25% 04/09/50 25,000   19,900
4.30% 05/15/44 75,000   71,772
CDW LLC/CDW Finance Corp.      
2.67% 12/01/26 70,000   63,717
Celanese U.S. Holdings LLC      
6.17% 07/15/27 25,000   25,274
Celulosa Arauco y Constitucion SA      
3.88% 11/02/27 100,000   92,170
Cenovus Energy, Inc.      
6.80% 09/15/37 50,000   53,117
CenterPoint Energy Houston Electric LLC      
4.45% 10/01/32 50,000   49,547
4.50% 04/01/44 75,000   69,361
Charles Schwab Corp.      
3.85% 05/21/25 50,000   48,078
4.63% 03/22/30 50,000   48,184
Charter Communications Operating LLC/Charter Communications Operating Capital      
2.80% 04/01/31 65,000   52,306
3.70% 04/01/51 25,000   15,963
4.91% 07/23/25 50,000   49,449
5.25% 04/01/53 25,000   20,214
6.38% 10/23/35 100,000   99,242
Cheniere Corpus Christi Holdings LLC      
2.74% 12/31/39 55,000   45,106
Chubb INA Holdings, Inc.      
3.15% 03/15/25 50,000   48,718
4.35% 11/03/45 50,000   45,971
Church & Dwight Co., Inc.      
5.00% 06/15/52 25,000   24,741
CI Financial Corp.      
4.10% 06/15/51 50,000   30,161
Cigna Group      
2.40% 03/15/30 15,000   13,014
4.13% 11/15/25 75,000   73,844
4.38% 10/15/28 40,000   39,400
4.50% 02/25/26 50,000   49,762
4.80% 08/15/38 30,000   29,099
Cintas Corp. No. 2      
3.45% 05/01/25 5,000   4,884
  Principal
Amount
  Fair
Value
Cisco Systems, Inc.      
2.50% 09/20/26 $25,000   $23,612
5.90% 02/15/39 50,000   56,434
Citigroup, Inc.      
3.70% 01/12/26 150,000   145,344
3.88% 03/26/25 50,000   48,449
4.30% 11/20/26 100,000   96,890
4.75% 05/18/46 50,000   44,291
Citigroup, Inc. (2.52% fixed rate until 11/03/31; 1.18% + SOFR thereafter)      
2.52% 11/03/32 (f) 35,000   28,600
Citigroup, Inc. (3.06% fixed rate until 01/25/32; 1.35% + SOFR thereafter)      
3.06% 01/25/33 (f) 50,000   42,431
Citigroup, Inc. (3.79% fixed rate until 03/17/32; 1.94% + SOFR thereafter)      
3.79% 03/17/33 (f) 50,000   44,835
Citigroup, Inc. (4.08% fixed rate until 04/23/28; 1.45% + 1-month Term SOFR)      
4.08% 04/23/29 (f) 75,000   71,473
Citigroup, Inc. (4.91% fixed rate until 05/24/32; 2.09% + SOFR thereafter)      
4.91% 05/24/33 (f) 50,000   49,004
Citizens Financial Group, Inc. (5.64% fixed rate until 05/21/32; 2.75% + 5 year CMT Rate thereafter)      
5.64% 05/21/37 (f) 50,000   46,039
Clorox Co.      
1.80% 05/15/30 50,000   41,366
CME Group, Inc.      
2.65% 03/15/32 20,000   17,326
CNH Industrial Capital LLC      
3.95% 05/23/25 10,000   9,754
CNOOC Finance 2014 ULC      
4.25% 04/30/24 100,000   99,397
CNOOC Petroleum North America ULC      
6.40% 05/15/37 25,000   27,784
Coca-Cola Co.      
2.50% 06/01/40 45,000   34,534
Colgate-Palmolive Co.      
3.25% 08/15/32 15,000   14,063
Comcast Corp.      
2.94% 11/01/56 25,000   16,661
3.38% 08/15/25 50,000   48,858
3.55% 05/01/28 50,000   48,072
4.25% 10/15/30 100,000   97,980
4.60% 10/15/38 30,000   28,942
6.50% 11/15/35 50,000   57,308
Comerica, Inc.      
4.00% 02/01/29 50,000   39,567
Commonwealth Edison Co.      
4.60% 08/15/43 100,000   93,247
Conagra Brands, Inc.      
4.30% 05/01/24 5,000   4,952
5.40% 11/01/48 75,000   73,473
ConocoPhillips      
6.50% 02/01/39 50,000   58,397
Constellation Brands, Inc.      
3.50% 05/09/27 25,000   24,100
3.75% 05/01/50 5,000   3,951
4.35% 05/09/27 50,000   49,359
 
See Notes to Schedule of Investments.
92 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
5.25% 11/15/48 $15,000   $14,525
Consumers Energy Co.      
4.05% 05/15/48 50,000   42,747
Continental Resources, Inc.      
3.80% 06/01/24 85,000   83,260
Cooperatieve Rabobank UA      
5.75% 12/01/43 100,000   101,717
Corning, Inc.      
3.90% 11/15/49 25,000   19,303
Corp. Andina de Fomento      
2.25% 02/08/27 50,000   45,848
Credit Suisse AG      
3.63% 09/09/24 50,000   47,785
3.70% 02/21/25 75,000   71,191
Credit Suisse Group AG      
4.88% 05/15/45 50,000   42,811
Crown Castle, Inc.      
1.35% 07/15/25 50,000   46,102
2.90% 03/15/27 25,000   23,179
3.80% 02/15/28 25,000   23,749
5.20% 02/15/49 50,000   46,334
CSX Corp.      
4.25% 03/15/29 50,000   49,355
6.22% 04/30/40 75,000   83,007
CubeSmart LP      
4.38% 02/15/29 15,000   14,363
CVS Health Corp.      
3.88% 07/20/25 50,000   49,103
Darden Restaurants, Inc.      
4.55% 02/15/48 15,000   12,864
Dayton Power & Light Co.      
3.95% 06/15/49 15,000   11,948
Deere & Co.      
2.75% 04/15/25 25,000   24,235
7.13% 03/03/31 75,000   88,669
Dell International LLC/EMC Corp.      
8.35% 07/15/46 75,000   91,246
Deutsche Bank AG (3.55% fixed rate until 09/18/30; 3.04% + SOFR thereafter)      
3.55% 09/18/31 (f) 100,000   82,029
Deutsche Telekom International Finance BV      
8.75% 06/15/30 50,000   61,100
Devon Energy Corp.      
5.00% 06/15/45 25,000   22,241
DH Europe Finance II Sarl      
2.60% 11/15/29 75,000   67,099
3.40% 11/15/49 25,000   19,737
Diamondback Energy, Inc.      
4.40% 03/24/51 25,000   20,129
Discover Financial Services      
3.75% 03/04/25 100,000   94,850
Dollar General Corp.      
4.13% 05/01/28 25,000   24,366
Dollar Tree, Inc.      
4.00% 05/15/25 50,000   49,039
Dominion Energy, Inc.      
3.30% 03/15/25 50,000   48,255
4.25% 06/01/28 50,000   48,655
4.70% 12/01/44 50,000   44,611
Duke Energy Corp. (3.25% fixed rate until 01/15/27; 2.32% + 5 year CMT Rate thereafter)      
3.25% 01/15/82 (f) 25,000   18,651
  Principal
Amount
  Fair
Value
Duke Energy Florida LLC      
6.35% 09/15/37 $250,000   $279,110
DuPont de Nemours, Inc.      
5.32% 11/15/38 15,000   15,104
5.42% 11/15/48 40,000   40,021
Eagle Materials, Inc.      
2.50% 07/01/31 25,000   20,502
eBay, Inc.      
1.40% 05/10/26 50,000   45,377
Ecolab, Inc.      
2.13% 02/01/32 25,000   20,885
Edison International      
5.75% 06/15/27 100,000   102,379
Elevance Health, Inc.      
2.38% 01/15/25 125,000   119,715
4.10% 05/15/32 25,000   23,903
4.38% 12/01/47 65,000   57,975
4.65% 01/15/43 50,000   46,836
Eli Lilly & Co.      
2.25% 05/15/50 50,000   33,013
2.75% 06/01/25 22,000   21,294
3.38% 03/15/29 13,000   12,426
Emera U.S. Finance LP      
3.55% 06/15/26 60,000   57,224
Emory University      
2.14% 09/01/30 40,000   34,145
Enbridge Energy Partners LP      
5.88% 10/15/25 75,000   76,609
Enbridge, Inc.      
4.00% 11/15/49 75,000   59,350
Enel Chile SA      
4.88% 06/12/28 25,000   24,240
Energy Transfer LP      
4.95% 05/15/28 60,000   59,347
6.00% 06/15/48 50,000   47,674
6.50% 02/01/42 50,000   51,913
Enstar Group Ltd.      
3.10% 09/01/31 10,000   7,733
Enterprise Products Operating LLC      
4.45% 02/15/43 42,000   37,280
Enterprise Products Operating LLC (5.38% fixed rate until 02/15/28; 2.57% + 3 month USD LIBOR thereafter)      
5.38% 02/15/78 (f) 50,000   40,046
Equifax, Inc.      
5.10% 12/15/27 25,000   25,137
Equinix, Inc.      
2.15% 07/15/30 65,000   53,105
2.63% 11/18/24 65,000   62,614
Equinor ASA      
2.88% 04/06/25 75,000   72,730
ERP Operating LP      
4.50% 07/01/44 75,000   65,584
Essential Utilities, Inc.      
2.70% 04/15/30 25,000   21,616
Estee Lauder Cos., Inc.      
2.38% 12/01/29 20,000   17,692
3.13% 12/01/49 30,000   23,061
European Bank for Reconstruction & Development      
1.63% 09/27/24 25,000   24,024
European Investment Bank      
0.38% 12/15/25 - 03/26/26 150,000   135,855
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 93

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
1.88% 02/10/25 $100,000   $95,972
2.25% 06/24/24 50,000   48,710
2.75% 08/15/25 20,000   19,458
Eversource Energy      
4.20% 06/27/24 75,000   74,194
Expedia Group, Inc.      
3.80% 02/15/28 75,000   71,074
Extra Space Storage LP      
3.90% 04/01/29 5,000   4,614
Exxon Mobil Corp.      
2.28% 08/16/26 50,000   46,954
2.99% 03/19/25 50,000   48,657
3.04% 03/01/26 50,000   48,541
Fairfax Financial Holdings Ltd.      
4.63% 04/29/30 25,000   23,569
Federal Realty Investment Trust      
3.20% 06/15/29 50,000   44,462
Fidelity National Financial, Inc.      
4.50% 08/15/28 25,000   24,324
Fidelity National Information Services, Inc.      
4.70% 07/15/27 75,000   73,911
5.10% 07/15/32 50,000   48,745
Fifth Third Bancorp (1.71% fixed rate until 11/01/26; 0.69% + SOFR thereafter)      
1.71% 11/01/27 (f) 25,000   21,138
Fifth Third Bancorp (4.77% fixed rate until 07/28/29; 2.13% + SOFR thereafter)      
4.77% 07/28/30 (f) 25,000   23,071
Fifth Third Bank NA      
3.85% 03/15/26 75,000   68,506
Flex Ltd.      
4.88% 06/15/29 25,000   24,198
Florida Power & Light Co.      
4.13% 02/01/42 50,000   44,236
5.95% 02/01/38 25,000   27,512
Fortune Brands Innovations, Inc.      
4.00% 03/25/32 25,000   22,487
Freeport-McMoRan, Inc.      
4.63% 08/01/30 25,000   23,722
5.40% 11/14/34 50,000   49,055
FS KKR Capital Corp.      
4.13% 02/01/25 25,000   23,731
GATX Corp.      
3.50% 03/15/28 25,000   23,059
4.90% 03/15/33 25,000   24,212
General Dynamics Corp.      
4.25% 04/01/40 25,000   23,597
General Mills, Inc.      
2.88% 04/15/30 75,000   67,321
General Motors Co.      
5.60% 10/15/32 25,000   24,419
General Motors Financial Co., Inc.      
5.00% 04/09/27 15,000   14,835
Georgetown University      
2.94% 04/01/50 10,000   6,797
Georgia Power Co.      
4.70% 05/15/32 25,000   24,784
Gilead Sciences, Inc.      
3.65% 03/01/26 75,000   73,447
3.70% 04/01/24 50,000   49,412
4.80% 04/01/44 50,000   48,470
  Principal
Amount
  Fair
Value
5.65% 12/01/41 $50,000   $54,007
GlaxoSmithKline Capital PLC      
3.38% 06/01/29 75,000   71,250
GlaxoSmithKline Capital, Inc.      
3.63% 05/15/25 55,000   54,337
Global Payments, Inc.      
5.40% 08/15/32 25,000   24,483
Globe Life, Inc.      
4.80% 06/15/32 15,000   14,428
GLP Capital LP/GLP Financing II, Inc.      
4.00% 01/15/31 50,000   43,521
5.25% 06/01/25 10,000   9,784
5.38% 04/15/26 20,000   19,444
5.75% 06/01/28 10,000   9,753
Goldman Sachs Group, Inc.      
3.75% 02/25/26 100,000   97,268
4.80% 07/08/44 75,000   69,688
6.25% 02/01/41 50,000   55,091
6.75% 10/01/37 100,000   108,440
Goldman Sachs Group, Inc. (2.65% fixed rate until 10/21/31; 1.26% + SOFR thereafter)      
2.65% 10/21/32 (f) 30,000   24,740
Goldman Sachs Group, Inc. (4.39% fixed rate until 06/15/26; 1.51% + SOFR thereafter)      
4.39% 06/15/27 (f) 15,000   14,663
Hartford Financial Services Group, Inc.      
4.30% 04/15/43 100,000   84,476
Hasbro, Inc.      
3.90% 11/19/29 50,000   45,535
HCA, Inc.      
5.38% 09/01/26 100,000   100,340
5.50% 06/15/47 85,000   79,776
Hershey Co.      
2.45% 11/15/29 75,000   66,765
Hess Corp.      
5.80% 04/01/47 75,000   73,374
Highwoods Realty LP      
4.20% 04/15/29 25,000   21,240
Home Depot, Inc.      
1.88% 09/15/31 20,000   16,547
2.75% 09/15/51 50,000   34,270
3.00% 04/01/26 50,000   48,502
3.25% 04/15/32 20,000   18,257
3.63% 04/15/52 75,000   60,382
4.20% 04/01/43 50,000   45,311
4.50% 09/15/32 15,000   15,098
Honeywell International, Inc.      
5.38% 03/01/41 50,000   53,002
Host Hotels & Resorts LP      
3.38% 12/15/29 50,000   42,423
HP, Inc.      
4.20% 04/15/32 25,000   22,514
5.50% 01/15/33 15,000   14,862
6.00% 09/15/41 37,000   37,891
HSBC Holdings PLC      
5.25% 03/14/44 75,000   66,206
HSBC Holdings PLC (4.29% fixed rate until 09/12/25; 1.35% + 3 month USD LIBOR thereafter)      
4.29% 09/12/26 (f) 50,000   47,845
 
See Notes to Schedule of Investments.
94 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
HSBC Holdings PLC (7.39% fixed rate until 11/03/27; 3.35% + SOFR thereafter)      
7.39% 11/03/28 (f) $250,000   $267,217
Hubbell, Inc.      
3.50% 02/15/28 50,000   47,276
Huntington Bancshares, Inc. (5.02% fixed rate until 05/17/32; 2.05% + SOFR thereafter)      
5.02% 05/17/33 (f) 35,000   31,998
Huntsman International LLC      
4.50% 05/01/29 20,000   18,786
Hyatt Hotels Corp.      
6.00% 04/23/30 25,000   25,375
IDEX Corp.      
3.00% 05/01/30 10,000   8,813
Illinois Tool Works, Inc.      
2.65% 11/15/26 50,000   47,575
Indiana University Health, Inc. Obligated Group      
2.85% 11/01/51 15,000   10,185
ING Groep NV      
3.55% 04/09/24 100,000   98,112
4.05% 04/09/29 50,000   46,918
Intel Corp.      
2.45% 11/15/29 25,000   22,014
3.75% 03/25/27 50,000   49,092
4.15% 08/05/32 25,000   24,115
4.60% 03/25/40 50,000   46,950
4.90% 08/05/52 25,000   23,280
Inter-American Development Bank      
1.13% 01/13/31 75,000   62,192
7.00% 06/15/25 200,000   211,642
Intercontinental Exchange, Inc.      
3.00% 06/15/50 15,000   10,593
3.65% 05/23/25 75,000   73,787
4.60% 03/15/33 15,000   14,877
International Bank for Reconstruction & Development      
1.25% 02/10/31 150,000   125,781
2.50% 07/29/25 100,000   96,713
3.13% 06/15/27 50,000   48,857
3.63% 09/21/29 250,000   248,747
International Business Machines Corp.      
4.00% 06/20/42 50,000   42,650
6.22% 08/01/27 100,000   106,268
International Finance Corp.      
0.38% 07/16/25 100,000   92,193
International Flavors & Fragrances, Inc.      
5.00% 09/26/48 15,000   12,801
Interpublic Group of Cos., Inc.      
4.65% 10/01/28 10,000   9,790
Interstate Power & Light Co.      
6.25% 07/15/39 75,000   80,787
Invitation Homes Operating Partnership LP      
2.70% 01/15/34 15,000   11,515
Jabil, Inc.      
4.25% 05/15/27 15,000   14,469
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.      
5.13% 02/01/28 (e) 50,000   48,404
  Principal
Amount
  Fair
Value
5.75% 04/01/33 (e) $35,000   $33,618
6.50% 12/01/52 (e) 15,000   14,378
Jefferies Financial Group, Inc.      
2.75% 10/15/32 35,000   27,331
4.85% 01/15/27 75,000   73,441
John Deere Capital Corp.      
1.45% 01/15/31 70,000   56,563
2.35% 03/08/27 25,000   23,245
3.35% 04/18/29 50,000   47,470
3.45% 03/13/25 50,000   49,192
Johnson & Johnson      
3.40% 01/15/38 25,000   22,506
Johnson Controls International PLC      
6.00% 01/15/36 75,000   79,915
JPMorgan Chase & Co.      
3.63% 12/01/27 100,000   95,657
6.40% 05/15/38 100,000   113,949
JPMorgan Chase & Co. (2.01% fixed rate until 03/13/25; 1.59% + 1-month Term SOFR)      
2.01% 03/13/26 (f) 100,000   94,203
JPMorgan Chase & Co. (2.95% fixed rate until 02/24/27; 1.17% + SOFR thereafter)      
2.95% 02/24/28 (f) 30,000   27,835
JPMorgan Chase & Co. (3.7% fixed rate until 05/06/29; 1.16% + 3 month USD LIBOR thereafter)      
3.70% 05/06/30 (f) 75,000   69,779
JPMorgan Chase & Co. (3.90% fixed rate until 01/23/48; 1.22% + 3 month USD LIBOR thereafter)      
3.90% 01/23/49 (f) 25,000   20,469
JPMorgan Chase & Co. (4.08% fixed rate until 04/26/25; 1.32% + SOFR thereafter)      
4.08% 04/26/26 (f) 250,000   245,237
JPMorgan Chase & Co. (4.26% fixed rate until 02/22/47; 1.58% + 3 month USD LIBOR thereafter)      
4.26% 02/22/48 (f) 50,000   43,642
JPMorgan Chase & Co. (4.45% fixed rate until 12/05/28; 1.33% + 3 month USD LIBOR thereafter)      
4.45% 12/05/29 (f) 50,000   48,572
JPMorgan Chase & Co. (4.59% fixed rate until 04/26/32; 1.80% + SOFR thereafter)      
4.59% 04/26/33 (f) 40,000   38,761
JPMorgan Chase & Co. (5.72% fixed rate until 09/14/32; 2.58% + SOFR thereafter)      
5.72% 09/14/33 (f) 75,000   76,523
Kaiser Foundation Hospitals      
3.00% 06/01/51 70,000   49,465
Kansas City Southern      
4.70% 05/01/48 50,000   45,721
Kellogg Co.      
4.50% 04/01/46 50,000   46,030
Kemper Corp.      
3.80% 02/23/32 25,000   21,497
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 95

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Kennametal, Inc.      
4.63% 06/15/28 $25,000   $24,160
Kentucky Utilities Co.      
4.38% 10/01/45 40,000   34,310
Keurig Dr Pepper, Inc.      
4.05% 04/15/32 35,000   33,155
4.42% 05/25/25 75,000   74,162
KeyBank NA      
3.90% 04/13/29 100,000   85,009
KeyCorp (3.88% fixed rate until 05/23/24; 1.25% + SOFR thereafter)      
3.88% 05/23/25 (f) 20,000   19,257
Keysight Technologies, Inc.      
3.00% 10/30/29 25,000   22,112
Kilroy Realty LP      
3.45% 12/15/24 50,000   44,980
Kimberly-Clark Corp.      
2.00% 11/02/31 50,000   42,195
Kimco Realty OP LLC      
4.60% 02/01/33 25,000   23,436
Kinder Morgan Energy Partners LP      
5.00% 08/15/42 50,000   44,540
KLA Corp.      
4.65% 11/01/24 25,000   24,933
4.95% 07/15/52 25,000   24,766
Kraft Heinz Foods Co.      
6.88% 01/26/39 150,000   169,938
Kreditanstalt fuer Wiederaufbau      
0.38% 07/18/25 50,000   46,063
0.75% 09/30/30 75,000   61,084
2.00% 05/02/25 75,000   71,876
Kroger Co.      
3.95% 01/15/50 50,000   40,705
4.50% 01/15/29 25,000   24,872
Kyndryl Holdings, Inc.      
2.70% 10/15/28 75,000   62,968
L3Harris Technologies, Inc.      
3.83% 04/27/25 50,000   48,775
4.85% 04/27/35 40,000   39,371
Lam Research Corp.      
3.80% 03/15/25 65,000   63,851
Lear Corp.      
4.25% 05/15/29 25,000   23,666
Lennar Corp.      
5.25% 06/01/26 100,000   100,355
Lloyds Banking Group PLC      
4.65% 03/24/26 50,000   47,592
Lockheed Martin Corp.      
3.80% 03/01/45 25,000   21,561
4.15% 06/15/53 45,000   40,955
4.70% 05/15/46 50,000   49,352
Lowe's Cos., Inc.      
1.70% 10/15/30 45,000   36,448
2.50% 04/15/26 80,000   75,406
2.63% 04/01/31 25,000   21,344
3.00% 10/15/50 30,000   19,916
3.38% 09/15/25 30,000   29,073
4.25% 04/01/52 50,000   41,108
4.65% 04/15/42 25,000   22,272
LYB International Finance III LLC      
3.80% 10/01/60 75,000   51,577
  Principal
Amount
  Fair
Value
M&T Bank Corp. (4.55% fixed rate until 08/16/27; 1.78% + SOFR thereafter)      
4.55% 08/16/28 (f) $15,000   $13,861
Manulife Financial Corp.      
3.70% 03/16/32 50,000   46,161
Marathon Petroleum Corp.      
3.63% 09/15/24 50,000   49,171
4.50% 04/01/48 25,000   20,491
Markel Corp.      
3.50% 11/01/27 50,000   47,596
Marriott International, Inc.      
3.75% 10/01/25 50,000   48,492
5.00% 10/15/27 55,000   55,125
5.75% 05/01/25 40,000   40,456
Martin Marietta Materials, Inc.      
3.50% 12/15/27 50,000   48,009
Marvell Technology, Inc.      
1.65% 04/15/26 25,000   22,663
Masco Corp.      
1.50% 02/15/28 75,000   64,018
Mastercard, Inc.      
2.95% 11/21/26 50,000   47,895
McDonald's Corp.      
3.50% 07/01/27 25,000   24,241
3.63% 09/01/49 55,000   44,009
3.70% 01/30/26 50,000   49,156
3.80% 04/01/28 50,000   49,091
4.60% 09/09/32 35,000   35,407
Memorial Sloan-Kettering Cancer Center      
4.13% 07/01/52 95,000   83,664
Merck & Co., Inc.      
2.75% 12/10/51 25,000   17,700
3.70% 02/10/45 50,000   43,567
4.00% 03/07/49 40,000   35,910
6.50% 12/01/33 100,000   117,262
Meta Platforms, Inc.      
4.45% 08/15/52 75,000   66,025
MetLife, Inc.      
4.13% 08/13/42 25,000   21,047
5.00% 07/15/52 30,000   28,041
6.50% 12/15/32 50,000   55,643
Microchip Technology, Inc.      
4.25% 09/01/25 75,000   73,774
Micron Technology, Inc.      
4.66% 02/15/30 75,000   71,994
Microsoft Corp.      
2.68% 06/01/60 50,000   34,535
3.45% 08/08/36 48,000   44,439
4.25% 02/06/47 50,000   49,025
Mitsubishi UFJ Financial Group, Inc.      
4.05% 09/11/28 100,000   97,473
4.15% 03/07/39 25,000   22,223
Mizuho Financial Group, Inc. (2.84% fixed rate until 07/16/24; 1.24% + SOFR thereafter)      
2.84% 07/16/25 (f) 100,000   96,281
Moody's Corp.      
3.25% 05/20/50 50,000   36,466
3.75% 03/24/25 50,000   48,988
Morgan Stanley      
4.00% 07/23/25 95,000   93,163
4.35% 09/08/26 50,000   48,778
4.38% 01/22/47 75,000   67,209
 
See Notes to Schedule of Investments.
96 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Morgan Stanley (2.48% fixed rate until 09/16/31; 1.36% + SOFR thereafter)      
2.48% 09/16/36 (f) $50,000   $37,814
Morgan Stanley (2.51% fixed rate until 10/20/31; 1.20% + SOFR thereafter)      
2.51% 10/20/32 (f) 75,000   61,387
Morgan Stanley (2.80% fixed rate until 01/25/51; 1.43% + SOFR thereafter)      
2.80% 01/25/52 (f) 25,000   16,509
Morgan Stanley (4.46% fixed rate until 04/22/38; 1.43% + 3 month USD LIBOR thereafter)      
4.46% 04/22/39 (f) 50,000   45,884
Morgan Stanley (4.89% fixed rate until 07/20/32; 2.08% + SOFR thereafter)      
4.89% 07/20/33 (f) 60,000   58,893
Morgan Stanley (6.14% fixed rate until 10/16/25; 1.77% + SOFR thereafter)      
6.14% 10/16/26 (f) 250,000   255,760
Motorola Solutions, Inc.      
5.60% 06/01/32 50,000   50,288
MPLX LP      
4.80% 02/15/29 70,000   69,281
4.95% 09/01/32 50,000   48,982
5.50% 02/15/49 50,000   46,544
Nasdaq, Inc.      
3.25% 04/28/50 20,000   13,747
National Australia Bank Ltd.      
3.50% 06/09/25 100,000   97,439
National Fuel Gas Co.      
4.75% 09/01/28 50,000   48,034
National Rural Utilities Cooperative Finance Corp.      
1.35% 03/15/31 50,000   38,469
3.45% 06/15/25 15,000   14,566
4.40% 11/01/48 10,000   8,774
NatWest Group PLC (3.75% fixed rate until 11/01/24; 2.10% + 5 year CMT Rate thereafter)      
3.75% 11/01/29 (f) 100,000   93,782
NatWest Group PLC (4.89% fixed rate until 05/18/28; 1.75% + 3 month USD LIBOR thereafter)      
4.89% 05/18/29 (f) 100,000   96,201
New York & Presbyterian Hospital      
2.26% 08/01/40 25,000   17,258
3.95% 08/01/19 35,000   26,167
Newmont Corp.      
2.60% 07/15/32 50,000   41,789
NextEra Energy Capital Holdings, Inc.      
3.50% 04/01/29 50,000   46,942
4.26% 09/01/24 15,000   14,857
Nomura Holdings, Inc.      
5.10% 07/03/25 50,000   49,166
Nordic Investment Bank      
0.38% 09/11/25 75,000   68,711
Norfolk Southern Corp.      
3.16% 05/15/55 50,000   34,250
3.70% 03/15/53 25,000   19,296
3.80% 08/01/28 30,000   28,881
  Principal
Amount
  Fair
Value
3.94% 11/01/47 $35,000   $28,651
Northern Trust Corp.      
1.95% 05/01/30 40,000   33,367
Northrop Grumman Corp.      
2.93% 01/15/25 50,000   48,469
5.15% 05/01/40 75,000   75,705
Northwell Healthcare, Inc.      
3.81% 11/01/49 50,000   39,259
Northwestern University      
3.66% 12/01/57 10,000   8,126
Novartis Capital Corp.      
4.40% 05/06/44 50,000   49,245
Nucor Corp.      
3.13% 04/01/32 10,000   8,831
Nutrien Ltd.      
5.88% 12/01/36 75,000   78,290
NVIDIA Corp.      
0.58% 06/14/24 40,000   38,201
1.55% 06/15/28 50,000   44,070
NXP BV/NXP Funding LLC      
5.55% 12/01/28 100,000   102,182
NXP BV/NXP Funding LLC/NXP USA, Inc.      
3.13% 02/15/42 75,000   53,347
Oesterreichische Kontrollbank AG      
1.50% 02/12/25 50,000   47,555
2.88% 05/23/25 25,000   24,340
Oglethorpe Power Corp.      
4.50% 04/01/47 (e) 15,000   12,778
OhioHealth Corp.      
2.83% 11/15/41 25,000   18,825
Oklahoma Gas & Electric Co.      
3.30% 03/15/30 50,000   45,459
Omega Healthcare Investors, Inc.      
5.25% 01/15/26 150,000   147,306
Omnicom Group, Inc.      
4.20% 06/01/30 75,000   72,109
Oncor Electric Delivery Co. LLC      
4.15% 06/01/32 20,000   19,358
4.60% 06/01/52 50,000   46,424
ONE Gas, Inc.      
4.50% 11/01/48 20,000   17,496
ONEOK Partners LP      
6.13% 02/01/41 62,000   61,093
ONEOK, Inc.      
4.35% 03/15/29 50,000   47,318
4.50% 03/15/50 50,000   38,785
Oracle Corp.      
3.25% 05/15/30 50,000   44,819
3.60% 04/01/40 50,000   38,745
4.30% 07/08/34 75,000   68,536
4.50% 07/08/44 75,000   62,706
Orange SA      
9.00% 03/01/31 50,000   62,863
ORIX Corp.      
5.20% 09/13/32 100,000   100,371
Otis Worldwide Corp.      
2.06% 04/05/25 50,000   47,233
Owens Corning      
3.88% 06/01/30 25,000   23,112
PACCAR Financial Corp.      
3.15% 06/13/24 15,000   14,710
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 97

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Pacific Gas & Electric Co.      
3.25% 06/01/31 $60,000   $50,984
3.50% 08/01/50 50,000   33,015
4.40% 03/01/32 25,000   22,499
PacifiCorp      
6.25% 10/15/37 203,000   227,350
Paramount Global      
5.85% 09/01/43 25,000   21,626
Parker-Hannifin Corp.      
4.00% 06/14/49 20,000   17,055
PeaceHealth Obligated Group      
3.22% 11/15/50 25,000   17,722
PepsiCo, Inc.      
2.75% 03/19/30 50,000   45,658
3.45% 10/06/46 25,000   21,384
3.50% 07/17/25 150,000   147,864
PerkinElmer, Inc.      
2.25% 09/15/31 35,000   28,054
3.30% 09/15/29 15,000   13,412
Pfizer, Inc.      
4.13% 12/15/46 50,000   45,951
4.30% 06/15/43 50,000   47,075
Philip Morris International, Inc.      
1.75% 11/01/30 75,000   60,370
3.38% 08/15/29 50,000   46,311
3.88% 08/21/42 42,000   33,246
Phillips 66 Co.      
3.15% 12/15/29 (e) 50,000   45,107
Pioneer Natural Resources Co.      
1.13% 01/15/26 50,000   45,431
PNC Bank NA      
3.10% 10/25/27 100,000   93,261
PNC Financial Services Group, Inc.      
2.60% 07/23/26 50,000   46,344
PNC Financial Services Group, Inc. (4.63% fixed rate until 06/06/32; 1.85% + SOFR thereafter)      
4.63% 06/06/33 (f) 25,000   23,169
President & Fellows of Harvard College      
3.15% 07/15/46 50,000   39,730
Principal Financial Group, Inc.      
3.40% 05/15/25 50,000   48,211
Procter & Gamble Co.      
2.45% 11/03/26 75,000   71,080
5.55% 03/05/37 75,000   85,403
Progressive Corp.      
4.20% 03/15/48 50,000   43,801
Prologis LP      
2.25% 01/15/32 50,000   41,075
4.38% 02/01/29 65,000   63,908
Providence St Joseph Health Obligated Group      
3.93% 10/01/48 20,000   15,626
Public Service Co. of Colorado      
3.70% 06/15/28 50,000   48,380
4.10% 06/15/48 30,000   25,704
Public Service Electric & Gas Co.      
3.20% 08/01/49 40,000   30,134
3.80% 03/01/46 75,000   61,780
Public Service Enterprise Group, Inc.      
2.88% 06/15/24 15,000   14,587
  Principal
Amount
  Fair
Value
Puget Energy, Inc.      
3.65% 05/15/25 $50,000   $48,171
QUALCOMM, Inc.      
3.25% 05/20/50 65,000   50,432
4.25% 05/20/32 10,000   10,007
4.65% 05/20/35 50,000   50,588
Quest Diagnostics, Inc.      
4.25% 04/01/24 50,000   49,443
Raymond James Financial, Inc.      
3.75% 04/01/51 75,000   55,904
Raytheon Technologies Corp.      
3.95% 08/16/25 15,000   14,809
4.63% 11/16/48 15,000   14,268
Realty Income Corp.      
3.10% 12/15/29 25,000   22,374
3.25% 01/15/31 75,000   66,027
Regency Centers LP      
4.13% 03/15/28 25,000   23,719
Regeneron Pharmaceuticals, Inc.      
1.75% 09/15/30 45,000   36,327
Reliance Steel & Aluminum Co.      
1.30% 08/15/25 55,000   50,532
RELX Capital, Inc.      
4.00% 03/18/29 25,000   24,102
RenaissanceRe Holdings Ltd.      
3.60% 04/15/29 25,000   23,077
Rio Tinto Finance USA Ltd.      
5.20% 11/02/40 50,000   51,366
Rockwell Automation, Inc.      
3.50% 03/01/29 45,000   43,117
Rogers Communications, Inc.      
4.50% 03/15/42 (e) 10,000   8,568
7.50% 08/15/38 150,000   172,740
Roper Technologies, Inc.      
3.80% 12/15/26 75,000   72,611
Ross Stores, Inc.      
4.60% 04/15/25 50,000   49,842
Royal Bank of Canada      
3.88% 05/04/32 50,000   46,581
4.24% 08/03/27 50,000   48,796
RPM International, Inc.      
4.25% 01/15/48 50,000   38,748
Ryder System, Inc.      
1.75% 09/01/26 15,000   13,467
4.30% 06/15/27 10,000   9,718
S&P Global, Inc.      
2.45% 03/01/27 75,000   70,474
3.70% 03/01/52 50,000   41,083
Sabine Pass Liquefaction LLC      
5.63% 03/01/25 135,000   135,846
Sabra Health Care LP      
3.90% 10/15/29 25,000   20,452
Safehold Operating Partnership LP      
2.85% 01/15/32 25,000   19,381
Salesforce, Inc.      
2.70% 07/15/41 50,000   37,503
3.05% 07/15/61 25,000   17,143
Santander Holdings USA, Inc. (4.26% fixed rate until 06/09/24; 1.38% + SOFR thereafter)      
4.26% 06/09/25 (f) 110,000   106,157
 
See Notes to Schedule of Investments.
98 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Sempra Energy      
3.80% 02/01/38 $25,000   $21,566
Shell International Finance BV      
4.38% 05/11/45 50,000   46,156
6.38% 12/15/38 50,000   57,706
Sherwin-Williams Co.      
3.95% 01/15/26 100,000   97,524
Snap-on, Inc.      
3.10% 05/01/50 15,000   11,421
Sonoco Products Co.      
3.13% 05/01/30 75,000   66,199
Southern California Edison Co.      
3.45% 02/01/52 25,000   18,446
3.60% 02/01/45 50,000   37,454
4.20% 03/01/29 25,000   24,227
Southern California Gas Co.      
2.55% 02/01/30 50,000   43,652
Southern Co.      
4.48% 08/01/24 (g) 75,000   74,006
Southwest Airlines Co.      
3.00% 11/15/26 50,000   46,787
Southwest Gas Corp.      
4.05% 03/15/32 15,000   13,830
Southwestern Electric Power Co.      
3.25% 11/01/51 25,000   17,390
Spirit Realty LP      
2.70% 02/15/32 30,000   23,493
Stanley Black & Decker, Inc.      
3.40% 03/01/26 75,000   71,853
Starbucks Corp.      
3.00% 02/14/32 45,000   39,895
3.75% 12/01/47 35,000   28,096
3.80% 08/15/25 50,000   49,278
Stryker Corp.      
4.63% 03/15/46 25,000   23,384
Sumitomo Mitsui Financial Group, Inc.      
1.47% 07/08/25 50,000   45,837
2.14% 09/23/30 25,000   19,889
3.01% 10/19/26 100,000   93,034
3.35% 10/18/27 50,000   46,392
4.31% 10/16/28 25,000   24,206
Suncor Energy, Inc.      
6.85% 06/01/39 50,000   54,722
Suzano Austria GmbH      
3.75% 01/15/31 55,000   47,835
Synchrony Financial      
3.95% 12/01/27 25,000   21,207
Sysco Corp.      
3.25% 07/15/27 75,000   71,164
6.60% 04/01/40 50,000   55,312
Tampa Electric Co.      
4.30% 06/15/48 25,000   21,341
Tapestry, Inc.      
3.05% 03/15/32 25,000   20,278
Target Corp.      
2.25% 04/15/25 50,000   48,043
4.50% 09/15/32 25,000   25,063
Teck Resources Ltd.      
6.25% 07/15/41 25,000   25,823
Telefonica Emisiones SA      
7.05% 06/20/36 50,000   55,036
TELUS Corp.      
4.60% 11/16/48 50,000   44,502
  Principal
Amount
  Fair
Value
Tennessee Gas Pipeline Co. LLC      
7.00% 10/15/28 $200,000   $217,426
Texas Instruments, Inc.      
3.65% 08/16/32 15,000   14,250
3.88% 03/15/39 50,000   45,585
Textron, Inc.      
3.90% 09/17/29 50,000   47,228
Thermo Fisher Scientific, Inc.      
1.75% 10/15/28 20,000   17,579
Time Warner Cable LLC      
4.50% 09/15/42 75,000   57,699
7.30% 07/01/38 50,000   51,923
Timken Co.      
4.50% 12/15/28 20,000   19,558
T-Mobile USA, Inc.      
3.60% 11/15/60 45,000   32,094
Toronto-Dominion Bank      
0.75% 09/11/25 50,000   45,020
1.95% 01/12/27 50,000   44,916
2.65% 06/12/24 50,000   48,628
Tosco Corp.      
8.13% 02/15/30 150,000   178,540
TotalEnergies Capital International SA      
3.39% 06/29/60 50,000   37,489
Toyota Motor Credit Corp.      
3.00% 04/01/25 50,000   48,438
4.55% 09/20/27 25,000   25,119
Trane Technologies Luxembourg Finance SA      
4.50% 03/21/49 50,000   44,122
TransCanada PipeLines Ltd.      
1.00% 10/12/24 30,000   28,151
5.85% 03/15/36 150,000   152,766
Travelers Cos., Inc.      
4.00% 05/30/47 50,000   42,970
Truist Bank      
3.20% 04/01/24 50,000   48,646
3.30% 05/15/26 100,000   92,295
Truist Financial Corp.      
1.95% 06/05/30 25,000   20,173
2.50% 08/01/24 50,000   47,888
Truist Financial Corp. (4.92% fixed rate until 07/28/32; 2.24% + SOFR thereafter)      
4.92% 07/28/33 (f) 25,000   23,301
Tucson Electric Power Co.      
4.85% 12/01/48 50,000   45,685
TWDC Enterprises 18 Corp.      
3.00% 07/30/46 75,000   54,958
Tyco Electronics Group SA      
2.50% 02/04/32 45,000   38,484
Tyson Foods, Inc.      
4.00% 03/01/26 15,000   14,735
4.88% 08/15/34 45,000   44,609
U.S. Bancorp      
3.95% 11/17/25 50,000   48,814
U.S. Bancorp (4.55% fixed rate until 07/22/27; 1.66% + SOFR thereafter)      
4.55% 07/22/28 (f) 25,000   24,336
Unilever Capital Corp.      
2.90% 05/05/27 50,000   47,510
3.50% 03/22/28 75,000   72,482
Union Electric Co.      
3.50% 03/15/29 25,000   23,626
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 99

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
3.65% 04/15/45 $35,000   $27,780
Union Pacific Corp.      
2.80% 02/14/32 15,000   13,185
3.38% 02/14/42 10,000   8,224
3.55% 08/15/39 15,000   12,767
3.95% 08/15/59 20,000   16,338
4.95% 09/09/52 50,000   50,726
United Airlines Pass-Through Trust      
5.88% 04/15/29 128,271   127,429
UnitedHealth Group, Inc.      
3.70% 12/15/25 110,000   107,577
3.75% 10/15/47 25,000   20,962
3.88% 12/15/28 15,000   14,698
4.45% 12/15/48 10,000   9,258
4.63% 07/15/35 45,000   45,231
5.95% 02/15/41 125,000   137,897
6.88% 02/15/38 50,000   60,396
University of Notre Dame du Lac      
3.39% 02/15/48 25,000   20,757
Vale Overseas Ltd.      
6.88% 11/10/39 75,000   77,951
Valero Energy Corp.      
6.63% 06/15/37 50,000   54,671
Ventas Realty LP      
3.50% 02/01/25 150,000   144,456
VeriSign, Inc.      
2.70% 06/15/31 30,000   25,514
Verisk Analytics, Inc.      
4.13% 03/15/29 60,000   57,529
Verizon Communications, Inc.      
2.88% 11/20/50 50,000   33,370
3.88% 02/08/29 - 03/01/52 105,000   85,679
4.02% 12/03/29 50,000   47,890
4.33% 09/21/28 34,000   33,565
VF Corp.      
2.95% 04/23/30 75,000   63,140
VMware, Inc.      
4.50% 05/15/25 25,000   24,706
Vodafone Group PLC      
4.25% 09/17/50 75,000   61,312
Vulcan Materials Co.      
4.70% 03/01/48 50,000   45,652
W R Berkley Corp.      
4.00% 05/12/50 20,000   16,189
Wachovia Corp.      
5.50% 08/01/35 100,000   100,304
Walmart, Inc.      
3.25% 07/08/29 40,000   38,169
Walt Disney Co.      
3.38% 11/15/26 50,000   48,446
3.60% 01/13/51 25,000   20,273
4.70% 03/23/50 50,000   48,877
Warnermedia Holdings, Inc.      
3.64% 03/15/25 (e) 50,000   48,376
3.76% 03/15/27 (e) 75,000   70,656
4.28% 03/15/32 (e) 40,000   35,691
5.05% 03/15/42 (e) 15,000   12,542
5.39% 03/15/62 (e) 15,000   12,124
Waste Connections, Inc.      
3.50% 05/01/29 50,000   46,630
Waste Management, Inc.      
2.00% 06/01/29 25,000   21,609
  Principal
Amount
  Fair
Value
Wells Fargo & Co.      
4.15% 01/24/29 $100,000   $95,669
4.40% 06/14/46 50,000   41,230
Wells Fargo & Co. (4.90% fixed rate until 07/25/32; 2.10% + SOFR thereafter)      
4.90% 07/25/33 (f) 60,000   58,523
Welltower OP LLC      
4.13% 03/15/29 75,000   69,927
Western Digital Corp.      
3.10% 02/01/32 30,000   22,657
Westlake Corp.      
4.38% 11/15/47 50,000   40,120
Westpac Banking Corp.      
1.95% 11/20/28 25,000   21,771
3.74% 08/26/25 50,000   48,913
Whirlpool Corp.      
4.70% 05/14/32 15,000   14,351
Williams Cos., Inc.      
5.75% 06/24/44 65,000   63,562
Wisconsin Electric Power Co.      
4.30% 10/15/48 10,000   8,777
Wisconsin Public Service Corp.      
3.30% 09/01/49 20,000   14,912
WP Carey, Inc.      
3.85% 07/15/29 50,000   46,378
Zimmer Biomet Holdings, Inc.      
3.55% 04/01/25 50,000   48,489
Zoetis, Inc.      
3.00% 05/15/50 70,000   49,918
      38,187,846
Non-Agency Collateralized Mortgage Obligations - 0.1%
Bank      
2.98% 11/15/62 50,000   43,744
3.01% 09/15/62 50,000   43,769
BBCMS Mortgage Trust      
2.69% 11/15/54 150,000   124,887
4.31% 12/15/51 50,000   47,695
Benchmark Mortgage Trust      
2.58% 04/15/54 150,000   123,808
Citigroup Commercial Mortgage Trust      
2.87% 08/10/56 100,000   87,318
4.03% 05/10/47 100,000   96,549
COMM Mortgage Trust      
3.18% 02/10/48 150,000   143,565
CSAIL Commercial Mortgage Trust      
3.45% 09/15/50 150,000   138,869
GS Mortgage Securities Trust      
2.78% 10/10/49 48,322   46,360
3.97% 02/10/52 50,000   46,625
JPMBB Commercial Mortgage Securities Trust      
3.80% 09/15/47 75,000   72,769
Morgan Stanley Bank of America Merrill Lynch Trust      
3.72% 12/15/49 89,000   83,755
Morgan Stanley Capital I Trust      
3.60% 12/15/49 150,000   140,559
UBS Commercial Mortgage Trust      
4.07% 12/15/51 40,693   38,345
 
See Notes to Schedule of Investments.
100 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Principal
Amount
  Fair
Value
Wells Fargo Commercial Mortgage Trust      
2.73% 02/15/53 $100,000   $85,353
3.73% 05/15/52 175,000   160,906
      1,524,876
Sovereign Bonds - 0.1%
Chile Government International Bonds      
3.86% 06/21/47 100,000   82,147
Export Development Canada      
3.00% 05/25/27 50,000   48,514
Export-Import Bank of Korea      
1.13% 12/29/26 200,000   176,268
Indonesia Government International Bonds      
3.05% 03/12/51 100,000   73,844
4.75% 02/11/29 100,000   101,181
Israel Government International Bonds      
3.88% 07/03/50 100,000   83,858
Japan Bank for International Cooperation      
1.25% 01/21/31 150,000   121,654
2.88% 07/21/27 100,000   94,953
Korea Development Bank      
2.13% 10/01/24 100,000   96,432
Korea International Bonds      
1.75% 10/15/31 100,000   84,780
Mexico Government International Bonds      
3.75% 01/11/28 100,000   96,102
4.75% 03/08/44 52,000   44,230
4.88% 05/19/33 100,000   95,924
6.05% 01/11/40 55,000   55,940
Panama Government International Bonds      
3.87% 07/23/60 50,000   32,795
6.70% 01/26/36 75,000   79,424
Peruvian Government International Bonds      
3.00% 01/15/34 29,000   23,672
3.23% 07/28/21 25,000   14,976
6.55% 03/14/37 47,000   51,180
Philippines Government International Bonds      
2.95% 05/05/45 100,000   72,277
10.63% 03/16/25 250,000   279,072
Uruguay Government International Bonds      
5.10% 06/18/50 50,000   50,360
      1,859,583
Municipal Bonds and Notes - 0.1%
Board of Regents of the University of Texas System, TX      
4.79% 08/15/46 100,000   102,769
Chicago O'Hare International Airport, IL      
4.47% 01/01/49 100,000   94,067
Chicago Transit Authority Sales & Transfer Tax Receipts, IL      
6.90% 12/01/40 75,000   86,615
Commonwealth of Massachusetts, MA      
4.50% 08/01/31 100,000   100,823
  Principal
Amount
  Fair
Value
Dallas Area Rapid Transit, TX      
5.02% 12/01/48 $50,000   $50,941
Dallas Fort Worth International Airport, TX      
4.09% 11/01/51 5,000   4,317
Los Angeles Department of Water & Power, CA      
6.60% 07/01/50 90,000   112,881
Los Angeles Unified School District, CA      
5.76% 07/01/29 110,000   116,150
New York City Municipal Water Finance Authority, NY      
6.01% 06/15/42 50,000   57,584
New York State Dormitory Authority, NY      
3.14% 07/01/43 50,000   41,143
New York State Urban Development Corp., NY      
3.90% 03/15/33 25,000   23,692
North Texas Tollway Authority, TX      
6.72% 01/01/49 100,000   125,469
Port Authority of New York & New Jersey, NY      
5.31% 08/01/46 125,000   123,470
Regents of the University of California Medical Center Pooled, CA      
6.58% 05/15/49 100,000   117,277
Sales Tax Securitization Corp., IL      
4.64% 01/01/40 25,000   24,187
San Joaquin Hills Transportation Corridor Agency, CA      
3.49% 01/15/50 100,000   79,610
South Carolina State Public Service Authority, SC      
6.45% 01/01/50 50,000   56,490
State of California, CA      
2.50% 10/01/29 100,000   89,318
7.60% 11/01/40 50,000   65,823
Texas Transportation Commission, TX      
2.56% 04/01/42 80,000   61,162
      1,533,788
Total Bonds and Notes
(Cost $217,631,831)
    201,731,993
    
  Number
of Shares
 
Exchange Traded & Mutual Funds - 15.4%
SPDR Bloomberg High Yield Bond ETF (h) 368,897 34,241,020
SPDR Bloomberg International Treasury Bond ETF (h) 2,916,796 67,436,323
SPDR Gold Shares (a)(h) 111,762 20,477,034
SPDR Portfolio Aggregate Bond ETF (h) 1,829,580 47,184,868
SPDR Portfolio Long Term Treasury ETF (h) 1,319,316 40,740,478
Total Exchange Traded & Mutual Funds
(Cost $206,454,889)
  210,079,723
Total Investments in Securities
(Cost $1,300,027,973)
  1,296,439,659
 
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 101

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
  Number
of Shares
  Fair
Value
Short-Term Investments - 4.8%
State Street Institutional U.S. Government Money Market Fund - Class G Shares 4.74% (i) 65,731,869   $65,731,869
Total Investments
(Cost $1,365,759,842)
    1,362,171,528
Other Assets and Liabilities, net - 0.2%     3,268,455
NET ASSETS - 100.0%     $1,365,439,983

Other Information:

The Fund had the following long futures contracts open at March 31, 2023:
    
Description   Expiration
Date
  Number of
Contracts
  Notional
Amount
  Value   Unrealized
Appreciation
(Depreciation)
MSCI EAFE Mini Index Futures   June 2023   40   $4,094,976   $4,193,000   $98,024
S&P/Toronto Stock Exchange 60 Index   June 2023   2   357,731   357,395   (336)
MSCI Emerging Markets Index Futures   June 2023   68   3,317,213   3,384,700   67,487
E-mini Russell 2000 Index Futures   June 2023   48   4,370,549   4,352,400   (18,149)
E-mini Russell 1000 Index Futures   June 2023   56   6,059,334   6,357,680   298,346
                    $445,372
The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice. The securities cited may not be representative of the Fund’s future investments and should not be construed as a recommendation to purchase or sell a particular security. See the Fund’s summary prospectus and statutory prospectus for complete descriptions of investment objectives, policies, risks and permissible investments.
(a) Non-income producing security.
(b) State Street Corporation is the parent company of SSGA Funds Management, Inc., the Fund's investment adviser and administrator, and State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent.
(c) At March 31, 2023, all or a portion of this security was pledged to cover collateral requirements for futures and/or TBAs.
(d) Security is fair valued by the Valuation Committee, in accordance with the procedures approved by the Fund's Board of Directors. Security value is determined based on level 3 inputs.
(e) Pursuant to Rule 144A of the Securities Act of 1933, as amended, these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2023, these securities amounted to $8,256,447 or 0.60% of the net assets of the State Street Total Return V.I.S. Fund. These securities have been determined to be liquid using procedures established by the Fund's Board of Directors.
(f) Variable Rate Security - Interest rate shown is rate in effect at March 31, 2023. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above.
(g) Step coupon bond.
(h) Sponsored by SSGA Funds Management, Inc., the Fund’s investment adviser and administrator, and an affiliate of State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent.
(i) Coupon amount represents effective yield.
Percentages are based on net assets as of March 31, 2023.
* Less than 0.05%.
** Amount is less than $0.50.
    
Abbreviations:
ADR - American Depositary Receipt
CMT - Constant Maturity Treasury
GDR - Global Depositary Receipt
LIBOR - London Interbank Offered Rate
NVDR - Non-Voting Depositary Receipt
REIT - Real Estate Investment Trust
SOFR - Secured Overnight Financing Rate
 
See Notes to Schedule of Investments.
102 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
The following table presents the Fund’s investments measured at fair value on a recurring basis at March 31, 2023:
Investments   Level 1   Level 2   Level 3   Total
Investments in Securities                
Domestic Equity   $506,940,891   $20,161,590   $—(a)   $527,102,481
Foreign Equity   45,087,590   312,422,427   15,445   357,525,462
U.S. Treasuries     118,714,126     118,714,126
Agency Mortgage Backed     38,332,207     38,332,207
Agency Collateralized Mortgage Obligations     999,039     999,039
Asset Backed     580,528     580,528
Corporate Notes     38,187,846     38,187,846
Non-Agency Collateralized Mortgage Obligations     1,524,876     1,524,876
Sovereign Bonds     1,859,583     1,859,583
Municipal Bonds and Notes     1,533,788     1,533,788
Exchange Traded & Mutual Funds   210,079,723       210,079,723
Short-Term Investments   65,731,869       65,731,869
Total Investments in Securities   $827,840,073   $534,316,010   $15,445   $1,362,171,528
Other Financial Instruments                
Long Futures Contracts - Unrealized Appreciation   463,857       463,857
                 
Long Futures Contracts - Unrealized Depreciation   (18,485)       (18,485)
Total Other Financial Instruments   $445,372   $  $  $445,372
    
(a) The Fund held Level 3 securities that were valued at $0 at March 31, 2023.
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 103

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
The Fund was invested in the following countries/territories at March 31, 2023 (unaudited):
Country/Territory   Percentage (based on
Fair Value)
United States   73.01%
Japan   4.45%
Canada   2.46%
United Kingdom   2.42%
France   2.18%
Germany   1.76%
China   1.74%
Australia   1.62%
Switzerland   1.23%
Netherlands   1.14%
Taiwan   0.74%
Sweden   0.64%
India   0.63%
Republic of Korea   0.62%
Denmark   0.62%
Spain   0.54%
Hong Kong   0.53%
Italy   0.43%
Singapore   0.36%
Brazil   0.29%
Finland   0.25%
South Africa   0.21%
Belgium   0.20%
Saudi Arabia   0.19%
Mexico   0.17%
Ireland   0.16%
Norway   0.14%
Israel   0.14%
Supranational   0.13%
Thailand   0.12%
Indonesia   0.11%
Malaysia   0.07%
Philippines   0.06%
Chile   0.06%
United Arab Emirates   0.06%
Austria   0.05%
New Zealand   0.05%
Qatar   0.04%
Kuwait   0.04%
Portugal   0.04%
Luxembourg   0.04%
Poland   0.03%
Macau   0.03%
Bermuda   0.03%
Puerto Rico   0.03%
Turkey   0.02%
Greece   0.02%
Zambia   0.02%
Peru   0.01%
Panama   0.01%
Ghana   0.01%
Monaco   0.01%
Hungary   0.01%
Czech Republic   0.01%
Cameroon   0.01%
Colombia   0.01%
Jordan   0.00%***
Uruguay   0.00%***
Egypt   0.00%***
Bahamas   0.00%***
Romania   0.00%***
Malta   0.00%***
Russian Federation   0.00%***
    100.00%
    
*** Less than 0.005%.
The Fund’s % share of investment in the various categories, based on Fair Value, is as follows at March 31, 2023 (unaudited):
Industry   Domestic   Foreign   Total
Exchange Traded Funds   15.42%   0.00%   15.42%
Diversified Banks   0.68%   3.12%   3.80%
Pharmaceuticals   1.83%   1.40%   3.23%
See Notes to Schedule of Investments.
104 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
Industry   Domestic   Foreign   Total
Technology Hardware, Storage & Peripherals   2.05%   0.35%   2.40%
Semiconductors   1.65%   0.61%   2.26%
Systems Software   2.14%   0.04%   2.18%
Interactive Media & Services   1.38%   0.35%   1.73%
Integrated Oil & Gas   0.64%   0.93%   1.57%
Application Software   1.16%   0.36%   1.52%
Biotechnology   1.37%   0.11%   1.48%
Automobile Manufacturers   0.58%   0.70%   1.28%
Broadline Retail   0.77%   0.45%   1.22%
Healthcare Equipment   0.97%   0.23%   1.20%
Packaged Foods & Meats   0.81%   0.31%   1.12%
Electric Utilities   0.58%   0.48%   1.06%
Aerospace & Defense   0.61%   0.34%   0.95%
Industrial Machinery & Supplies & Components   0.53%   0.41%   0.94%
Regional Banks   0.87%   0.05%   0.92%
Transaction & Payment Processing Services   0.81%   0.11%   0.92%
Semiconductor Materials & Equipment   0.30%   0.55%   0.85%
Apparel, Accessories & Luxury Goods   0.09%   0.76%   0.85%
Oil & Gas Exploration & Production   0.53%   0.23%   0.76%
Life & Health Insurance   0.16%   0.59%   0.75%
Life Sciences Tools & Services   0.60%   0.14%   0.74%
Integrated Telecommunication Services   0.25%   0.47%   0.72%
Specialty Chemicals   0.33%   0.38%   0.71%
Restaurants   0.49%   0.21%   0.70%
Diversified Metals & Mining   0.02%   0.63%   0.65%
Industrial Conglomerates   0.23%   0.40%   0.63%
Electrical Components & Equipment   0.42%   0.21%   0.63%
IT Consulting & Other Services   0.33%   0.28%   0.61%
Property & Casualty Insurance   0.39%   0.21%   0.60%
Trading Companies & Distributors   0.21%   0.36%   0.57%
Asset Management & Custody Banks   0.37%   0.21%   0.58%
Personal Care Products   0.14%   0.43%   0.57%
Multi-Sector Holdings   0.45%   0.12%   0.57%
Household Products   0.42%   0.15%   0.57%
Financial Exchanges & Data   0.34%   0.23%   0.57%
Managed Healthcare   0.55%   0.00%   0.55%
Soft Drinks & Non-alcoholic Beverages   0.48%   0.06%   0.54%
Consumer Staples Merchandise Retail   0.48%   0.05%   0.53%
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 105

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
Industry   Domestic   Foreign   Total
Building Products   0.28%   0.22%   0.50%
Rail Transportation   0.19%   0.31%   0.50%
Multi-Line Insurance   0.06%   0.41%   0.47%
Multi-Utilities   0.26%   0.18%   0.44%
Research & Consulting Services   0.23%   0.20%   0.43%
Food Retail   0.06%   0.37%   0.43%
Construction Machinery & Heavy Transportation Equipment   0.23%   0.19%   0.42%
Movies & Entertainment   0.36%   0.05%   0.41%
Wireless Telecommunication Services   0.08%   0.32%   0.40%
Investment Banking & Brokerage   0.34%   0.06%   0.40%
Communications Equipment   0.33%   0.07%   0.40%
Construction & Engineering   0.18%   0.21%   0.39%
Oil & Gas Storage & Transportation   0.16%   0.22%   0.38%
Tobacco   0.19%   0.18%   0.37%
Hotels, Resorts & Cruise Lines   0.26%   0.10%   0.36%
Home Improvement Retail   0.34%   0.01%   0.35%
Air Freight & Logistics   0.20%   0.14%   0.34%
Electronic Equipment & Instruments   0.16%   0.19%   0.35%
Healthcare Supplies   0.15%   0.20%   0.35%
Steel   0.14%   0.19%   0.33%
Oil & Gas Refining & Marketing   0.18%   0.16%   0.34%
Healthcare Services   0.30%   0.04%   0.34%
Electronic Components   0.11%   0.23%   0.34%
Apparel Retail   0.18%   0.14%   0.32%
Industrial Gases   0.18%   0.12%   0.30%
Distillers & Vintners   0.05%   0.25%   0.30%
Interactive Home Entertainment   0.11%   0.18%   0.29%
Retail REITs   0.21%   0.08%   0.29%
Casinos & Gaming   0.12%   0.17%   0.29%
Human Resource & Employment Services   0.19%   0.08%   0.27%
Gold   0.04%   0.22%   0.26%
Automotive Parts & Equipment   0.15%   0.11%   0.26%
Industrial REITs   0.18%   0.08%   0.26%
Home Building   0.19%   0.06%   0.25%
Commodity Chemicals   0.10%   0.15%   0.25%
Consumer Finance   0.21%   0.03%   0.24%
Internet Services & Infrastructure   0.14%   0.09%   0.23%
Brewers   0.01%   0.22%   0.23%
Construction Materials   0.11%   0.11%   0.22%
Oil & Gas Equipment & Services   0.21%   0.00%   0.21%
Consumer Electronics   0.03%   0.19%   0.22%
Cable & Satellite   0.18%   0.03%   0.21%
Gas Utilities   0.09%   0.11%   0.20%
Automotive Retail   0.17%   0.02%   0.19%
Insurance Brokers   0.19%   0.00%   0.19%
See Notes to Schedule of Investments.
106 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
Industry   Domestic   Foreign   Total
Diversified Capital Markets   0.00%   0.19%   0.19%
Footwear   0.17%   0.01%   0.18%
Fertilizers & Agricultural Chemicals   0.07%   0.09%   0.16%
Environmental & Facilities Services   0.13%   0.04%   0.17%
Agricultural & Farm Machinery   0.11%   0.04%   0.15%
Reinsurance   0.07%   0.09%   0.16%
Other Specialty Retail   0.13%   0.02%   0.15%
Diversified Real Estate Activities   0.01%   0.14%   0.15%
Diversified Financial Services   0.05%   0.10%   0.15%
Healthcare Facilities   0.11%   0.04%   0.15%
Advertising   0.07%   0.08%   0.15%
Telecom Tower REITs   0.14%   0.00%   0.14%
Passenger Airlines   0.08%   0.05%   0.13%
Cargo Ground Transportation   0.12%   0.01%   0.13%
Diversified Support Services   0.09%   0.03%   0.12%
Real Estate Operating Companies   0.01%   0.11%   0.12%
Healthcare Distributors   0.10%   0.02%   0.12%
Diversified Chemicals   0.01%   0.11%   0.12%
Multi-Family Residential REITs   0.11%   0.00%   0.11%
Data Processing & Outsourced Services   0.10%   0.02%   0.12%
Marine Transportation   0.01%   0.10%   0.11%
Health Care REITs   0.11%   0.00%   0.11%
Heavy Electrical Equipment   0.02%   0.09%   0.11%
Office REITs   0.07%   0.03%   0.10%
Diversified REITs   0.05%   0.05%   0.10%
Electronic Manufacturing Services   0.05%   0.06%   0.11%
Leisure Products   0.06%   0.04%   0.10%
Mortgage REITs   0.10%   0.00%   0.10%
Water Utilities   0.07%   0.03%   0.10%
Copper   0.05%   0.05%   0.10%
Paper & Plastic Packaging Products & Materials   0.07%   0.03%   0.10%
Education Services   0.07%   0.02%   0.09%
Independent Power Producers & Energy Traders   0.02%   0.06%   0.08%
Renewable Electricity   0.04%   0.04%   0.08%
Healthcare Technology   0.07%   0.01%   0.08%
Coal & Consumable Fuels   0.03%   0.05%   0.08%
Other Specialized REITs   0.08%   0.00%   0.08%
Real Estate Development   0.00%   0.08%   0.08%
Hotel & Resort REITs   0.08%   0.00%   0.08%
Leisure Facilities   0.03%   0.05%   0.08%
Agricultural Products & Services   0.06%   0.02%   0.08%
Data Center REITs   0.07%   0.00%   0.07%
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 107

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
Industry   Domestic   Foreign   Total
Tires & Rubber   0.01%   0.06%   0.07%
Real Estate Services   0.05%   0.02%   0.07%
Self Storage REITs   0.07%   0.00%   0.07%
Metal, Glass & Plastic Containers   0.06%   0.01%   0.07%
Passenger Ground Transportation   0.06%   0.01%   0.07%
Commercial & Residential Mortgage Finance   0.07%   0.00%   0.07%
Paper Products   0.01%   0.06%   0.07%
Food Distributors   0.06%   0.01%   0.07%
Broadcasting   0.05%   0.01%   0.06%
Technology Distributors   0.06%   0.00%   0.06%
Oil & Gas Drilling   0.05%   0.01%   0.06%
Highways & Railtracks   0.00%   0.06%   0.06%
Aluminum   0.03%   0.03%   0.06%
Alternative Carriers   0.05%   0.00%   0.05%
Single-Family Residential REITs   0.05%   0.00%   0.05%
Distributors   0.04%   0.01%   0.05%
Airport Services   0.00%   0.05%   0.05%
Drug Retail   0.02%   0.03%   0.05%
Security & Alarm Services   0.02%   0.02%   0.04%
Timber REITs   0.03%   0.00%   0.03%
Household Appliances   0.02%   0.02%   0.04%
Home Furnishing Retail   0.02%   0.01%   0.03%
Commercial Printing   0.01%   0.02%   0.03%
Specialized Consumer Services   0.03%   0.00%   0.03%
Motorcycle Manufacturers   0.00%   0.02%   0.02%
Publishing   0.02%   0.00%   0.02%
Computer & Electronics Retail   0.02%   0.00%   0.02%
Specialized Finance   0.00%   0.02%   0.02%
Home Furnishings   0.02%   0.00%   0.02%
Office Services & Supplies   0.02%   0.00%   0.02%
Silver   0.01%   0.01%   0.02%
Forest Products   0.00%   0.02%   0.02%
Precious Metals & Minerals   0.00%   0.02%   0.02%
Marine Ports & Services   0.00%   0.01%   0.01%
Housewares & Specialties   0.00%   0.00%   0.00%***
Textiles   0.00%   0.00%   0.00%***
            80.36%
    
Sector Percentage (based
on Fair Value)
U.S. Treasuries     8.72%
Agency Mortgage Backed     2.82%
Corporate Notes     2.80%
Sovereign Bonds     0.14%
Municipal Bonds and Notes     0.11%
Non-Agency Collateralized Mortgage Obligations     0.11%
See Notes to Schedule of Investments.
108 State Street Total Return V.I.S. Fund

State Street Total Return V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
Sector Percentage (based
on Fair Value)
Agency Collateralized Mortgage Obligations     0.07%
Asset Backed     0.04%
      14.81%
    
Short-Term Investments Percentage (based
on Fair Value)
       
Short-Term Investments     4.83%
      4.83%
      100.00%
    
*** Less than 0.005%.
    
Affiliate Table
    
  Number
of Shares
Held at
12/31/22
  Value at
12/31/22
  Cost of
Purchases
  Proceeds
from
Shares
Sold
  Realized
Gain
(Loss)
  Change in
Unrealized
Appreciation
(Depreciation)
  Number of
Shares
Held at
3/31/23
  Value at
3/31/23
  Dividend
Income
SPDR Bloomberg High Yield Bond ETF 150,705   $13,563,450   $49,051,411   $28,019,632   $(1,112,559)   $758,350   368,897   $34,241,020   $336,797
SPDR Bloomberg International Treasury Bond ETF 2,402,330   53,884,262   15,349,452   3,584,951   (47,559)   1,835,119   2,916,796   67,436,323   186,257
SPDR Gold Shares     21,815,289   1,782,922   25,320   419,347   111,762   20,477,034  
SPDR Portfolio Aggregate Bond ETF 2,657,053   66,771,742   42,453,750   63,559,377   2,337,641   (818,888)   1,829,580   47,184,868   29,791
SPDR Portfolio Long Term Treasury ETF 1,523,635   44,231,124   28,943,835   34,389,904   (3,451,335)   5,406,758   1,319,316   40,740,478   193,248
State Street Corp. 3,761   291,741   43,029   33,952   348   (8,927)   3,861   292,239   2,432
State Street Institutional U.S. Government Money Market Fund - Class G Shares 52,907,231   52,907,231   160,720,628   147,895,990       65,731,869   65,731,869   570,632
TOTAL     $231,649,550   $318,377,394   $279,266,728   $(2,248,144)   $7,591,759       $276,103,831   $1,319,157
See Notes to Schedule of Investments.
State Street Total Return V.I.S. Fund 109

State Street Real Estate Securities V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
  Number
of Shares
  Fair
Value
Common Stock (REITs) - 99.3% †
Alternate Housing - 8.0%
American Homes 4 Rent, Class A 16,080   $505,716
Invitation Homes, Inc. 45,360   1,416,593
Sun Communities, Inc. 9,448   1,331,034
      3,253,343
Data Center - 10.0%
Digital Realty Trust, Inc. 18,220   1,791,208
Equinix, Inc. 3,190   2,300,118
      4,091,326
Healthcare - 14.5%
Alexandria Real Estate Equities, Inc. 8,000   1,004,720
Healthpeak Properties, Inc. 34,210   751,594
Medical Properties Trust, Inc. 53,549   440,173
Omega Healthcare Investors, Inc. 17,040   467,066
Sabra Health Care REIT, Inc. 22,210   255,415
Ventas, Inc. 29,300   1,270,155
Welltower, Inc. 24,280   1,740,633
      5,929,756
Hotel - 3.3%
Apple Hospitality REIT, Inc. 11,890   184,533
DiamondRock Hospitality Co. 20,070   163,169
Host Hotels & Resorts, Inc. 27,710   456,938
Park Hotels & Resorts, Inc. 16,625   205,485
Xenia Hotels & Resorts, Inc. 24,544   321,281
      1,331,406
Industrial - 15.5%
Americold Realty Trust, Inc. 10,140   288,483
First Industrial Realty Trust, Inc. 22,120   1,176,784
Prologis, Inc. 34,828   4,345,489
Rexford Industrial Realty, Inc. 8,840   527,306
      6,338,062
Multifamily - 11.9%
AvalonBay Communities, Inc. 9,030   1,517,582
Camden Property Trust 2,389   250,462
Equity Residential 25,440   1,526,400
Essex Property Trust, Inc. 1,020   213,323
Mid-America Apartment Communities, Inc. 3,312   500,244
UDR, Inc. 18,480   758,789
Veris Residential, Inc. (a) 8,220   120,341
      4,887,141
Net Lease - 10.0%
Agree Realty Corp. 15,040   1,031,894
Broadstone Net Lease, Inc. 30,850   524,759
Four Corners Property Trust, Inc. 9,477   254,552
Realty Income Corp. 30,480   1,929,994
Spirit Realty Capital, Inc. 8,980   357,763
      4,098,962
Office - 3.7%
Boston Properties, Inc. 2,810   152,077
Cousins Properties, Inc. 11,296   241,508
Douglas Emmett, Inc. 29,544   364,278
Highwoods Properties, Inc. 13,020   301,934
  Number
of Shares
  Fair
Value
Kilroy Realty Corp. 14,530   $470,772
      1,530,569
Regional Malls - 3.2%
Simon Property Group, Inc. 11,570   1,295,493
Self Storage - 9.0%
CubeSmart 9,130   421,989
Extra Space Storage, Inc. 3,650   594,694
Life Storage, Inc. 3,410   447,017
Public Storage 7,370   2,226,772
      3,690,472
Shopping Centers - 6.1%
Acadia Realty Trust 23,320   325,314
Brixmor Property Group, Inc. 32,890   707,793
Kimco Realty Corp. 10,370   202,526
Regency Centers Corp. 8,320   509,018
Retail Opportunity Investments Corp. 9,750   136,110
RPT Realty 33,675   320,249
Urban Edge Properties 18,420   277,405
      2,478,415
Specialty - 4.1%
Outfront Media, Inc. 8,100   131,463
SBA Communications Corp. 1,280   334,170
VICI Properties, Inc. 37,060   1,208,897
      1,674,530
Total Common Stock (REITs)
(Cost $43,287,304)
    40,599,475
Short-Term Investments - 1.0%
State Street Institutional U.S. Government Money Market Fund - Class G Shares 4.74% (b)(c) 404,310   404,310
Total Investments
(Cost $43,691,613)
    41,003,785
Liabilities in Excess of Other Assets, net - (0.3)%     (114,071)
NET ASSETS - 100.0%     $40,889,714
The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice. The securities cited may not be representative of the Fund’s future investments and should not be construed as a recommendation to purchase or sell a particular security. See the Fund’s summary prospectus and statutory prospectus for complete descriptions of investment objectives, policies, risks and permissible investments.
(a) Non-income producing security.
(b) Sponsored by SSGA Funds Management, Inc., the Fund’s investment adviser and administrator, and an affiliate of State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent.
(c) Coupon amount represents effective yield.
Percentages are based on net assets as of March 31, 2023.
    
Abbreviations:
REIT - Real Estate Investment Trust
 
See Notes to Schedule of Investments.
110 State Street Real Estate Securities V.I.S. Fund

State Street Real Estate Securities V.I.S. Fund
Schedule of Investments
March 31, 2023 (Unaudited)
 
The following table presents the Fund’s investments measured at fair value on a recurring basis at March 31, 2023:
Investments Level 1   Level 2   Level 3   Total
Investments in Securities              
Common Stock $40,599,475   $—   $—   $40,599,475
Short-Term Investments 404,310       404,310
Total Investments in Securities $41,003,785   $—   $—   $41,003,785
    
Affiliate Table
    
  Number
of Shares
Held at
12/31/22
  Value at
12/31/22
  Cost of
Purchases
  Proceeds
from
Shares
Sold
  Realized
Gain
(Loss)
  Change in
Unrealized
Appreciation
(Depreciation)
  Number of
Shares
Held at
3/31/23
  Value at
3/31/23
  Dividend
Income
State Street Institutional U.S. Government Money Market Fund - Class G Shares 300,858   $300,858   $1,506,886   $1,403,434   $—   $—   404,310   $404,310   $1,996
See Notes to Schedule of Investments.
State Street Real Estate Securities V.I.S. Fund 111

State Street Variable Insurance Series Funds, Inc.
Notes to Schedule of Investments
March 31, 2023 (Unaudited)
 
Security Valuation Each Fund’s investments are valued at fair value each day that the New York Stock Exchange (“NYSE”) is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the NYSE is not open. Fair value is generally defined as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. By its nature, a fair value price is a good faith estimate of the valuation in a current sale and may not reflect an actual market price. The investments of each Fund are valued pursuant to the policy and procedures developed by the Oversight Committee (the “Committee”) and approved by the Board of Trustees (the “Board”). The Committee provides oversight of the valuation of investments for the Funds. The Board has responsibility for overseeing the determination of the fair value of investments.
Valuation techniques used to value each Fund’s investments by major category are as follows:
Equity investments traded on a recognized securities exchange for which market quotations are readily available are valued at the last sale price or official closing price, as applicable, on the primary market or exchange on which they trade. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last published sale price or at fair value.
Investments in registered investment companies (including money market funds) or other unitized pooled investment vehicles that are not traded on an exchange are valued at that day’s published net asset value (“NAV”) per share or unit.
Rights and warrants are valued at the last reported sale price obtained from independent pricing services or brokers on the valuation date. If no price is obtained from pricing services or brokers, valuation will be based upon the intrinsic value pursuant to the valuation policy and procedures approved by the Board.
Government and municipal fixed income securities are generally valued using quotations from independent pricing services or brokers. Certain government inflation-indexed securities may require a calculated fair valuation as the cumulative inflation is contained within the price provided by the pricing service or broker. For these securities, the inflation component of the price is “cleaned” from the pricing service or broker price utilizing the published inflation factors in order to ensure proper accrual of income.
Debt obligations (including short term investments and convertible debt securities) are valued using quotations from independent pricing services or brokers or are generally valued at the last reported evaluated prices.
Exchange-traded futures contracts are valued at the closing settlement price on the primary market on which they are traded most extensively. Exchange-traded futures contracts traded on a recognized exchange for which there were no sales on that day are valued at the last reported sale price obtained from independent pricing services or brokers or at fair value.
Swap agreements are valued daily based upon prices supplied by Board approved pricing vendors or through brokers. Depending on the product and terms of the transaction, the value of agreements is determined using a series of techniques including valuation models that incorporate a number of market data factors, such as discounted cash flows, yields, curves, trades and values of the underlying reference instruments. In the event SSGA Funds Management, Inc. (the “Adviser” or “SSGA FM”) is unable to obtain an independent, third-party valuation the agreements will be fair valued.
In the event prices or quotations are not readily available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with the valuation policy and procedures approved by the Board.
A “significant event” is an event that the Board believes, with a reasonably high degree of certainty, has caused the closing market prices of a Fund’s portfolio securities to no longer reflect their value at the time of the Fund’s NAV calculation. Fair value may be determined using an independent fair value service under valuation procedures approved by the Board. The independent fair value service takes into account multiple factors including, but not limited to, movements in the U.S. securities markets, certain depositary receipts, futures contracts and foreign currency exchange rates that have occurred subsequent to the close of foreign securities exchanges. The use of the independent fair value service or alternative fair valuation methods would result in the investments being classified within Level 2 of the fair value hierarchy. At March 31, 2023, the independent fair value service was used for certain foreign securities in certain Funds/Portfolios, and these securities were classified within Level 2 of the fair value hierarchy.
The Funds value their assets and liabilities at fair value using a fair value hierarchy consisting of three broad levels that prioritize the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The categorization of a value determined for an investment within the hierarchy is based upon the pricing transparency of the investment and is not necessarily an indication of the risk associated with investing in it.
The three levels of the fair value hierarchy are as follows:
Level 1 — Unadjusted quoted prices in active markets for an identical asset or liability;
112

State Street Variable Insurance Series Funds, Inc.
Notes to Schedule of Investments
March 31, 2023 (Unaudited)
 
Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and
Level 3 — Unobservable inputs for the asset or liability, including the Committee’s assumptions used in determining the fair value of investments.
The value of each Fund’s investments according to the fair value hierarchy as of March 31, 2023 is disclosed in each Fund’s Schedule of Investments.
Futures Contracts
Each Fund may enter into futures contracts to meet its objectives. A futures contract is a standardized, exchange-traded agreement to buy or sell a financial instrument at a set price on a future date. Upon entering into a futures contract, a Fund is required to deposit with the broker, cash or securities in an amount equal to the minimum initial margin requirements of the clearing house. Securities deposited, if any, are designated on the Schedule of Investments and cash deposited, if any, is shown as Net cash collateral on deposit with broker for future contracts on the Statement of Assets and Liabilities. Subsequent payments are made or received by a Fund equal to the daily change in the contract value, accumulated, exchange rates, and/or other transactional fees. The accumulation of those payments are recorded as variation margin receivable or payable with a corresponding offset to unrealized gains or losses. A Fund recognizes a realized gain or loss when the contract is closed.
Losses may arise if the value of a futures contract decreases due to unfavorable changes in the market rates or values of the underlying instrument during the term of the contract or if the counterparty does not perform under the contract. The use of futures contracts also involves the risk that the movements in the price of the futures contracts do not correlate with the movement of the assets underlying such contracts.
During the period ended March 31, 2023, the following Funds entered into futures contracts for strategies listed below:
Fund   Strategies
State Street S&P 500 Index V.I.S. Fund   Equitization of cash
State Street Small-Cap Equity V.I.S. Fund   Equitization of cash
State Street Income V.I.S. Fund   Management of Interest Rate Risk
State Street Total Return V.I.S. Fund   Equitization of cash
     
Credit Default Swaps
During the period ended March 31, 2023, the State Street Income V.I.S. Fund engaged in credit default swaps to manage credit risk. When the Fund is the buyer in a credit default swap contract, the Fund is entitled to receive the par (or other agreed upon) value (full notional value) of a referenced debt obligation (or basket of debt obligations) from the counterparty (or central clearing party (“CCP”) in the case of a centrally cleared swap) to the contract if a credit event by a third party, such as a U.S. or foreign corporate issuer or sovereign issuer, on the debt obligation occurs. In return, the Fund pays the counterparty a periodic stream of payments over the term of the contract provided that no credit event has occurred. If no credit event occurs, the Fund loses its investment and recovers nothing. However, if a credit event occurs, the Fund receives full notional value for a referenced debt obligation that may have little or no value. When the Fund is the seller of a credit default swap, it receives a fixed rate of income throughout the term of the contract, provided there is no credit event. If a credit event occurs, the Fund is obligated to pay the notional amount of the swap and in certain instances take delivery of securities of the reference entity upon the occurrence of a credit event, as defined under the terms of that particular swap agreement. Credit events are contract specific but may include bankruptcy, failure to pay, restructuring, obligation acceleration and repudiation/moratorium. If the Fund is a seller of protection and a credit event occurs, the maximum potential amount of future payments that the Fund could be required to make would be an amount equal to the notional amount of the agreement. This potential amount would be partially offset by any recovery value of the respective referenced obligation, or net amount received from the settlement of a buy protection credit default swap agreement entered into by the Fund for the same referenced obligation. As the seller, the Fund may create economic leverage to its portfolio because, in addition to its total net assets, the Fund is subject to investment exposure on the notional amount of the swap. The interest fee paid or received on the swap, which is based on a specified interest rate on a fixed notional amount, is accrued daily as a component of unrealized appreciation (depreciation) and is recorded as realized gain upon receipt or realized loss upon payment. The Fund also records an increase or decrease to unrealized appreciation (depreciation) in an amount equal to the daily valuation. For centrally cleared swaps, the daily change in valuation is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. All upfront payments, if any, are amortized over the life of the swap as realized gains or losses. Those upfront payments that are paid or received, typically for non-centrally cleared swaps, are recorded as other assets or other liabilities, respectively, net of amortization. For financial reporting purposes, unamortized upfront payments, if any, are netted with unrealized appreciation or depreciation on swaps to determine the market value of swaps. The Fund segregates assets in the form of cash or liquid securities in an amount equal to the notional amount of the credit default swaps of which it is the seller. The Fund segregates assets in the form of cash or liquid securities in an amount equal to any unrealized depreciation of the credit default swaps of which it is the buyer, marked to market on a daily basis. Credit default swaps involve greater risks than if the Fund had invested in the referenced debt obligation directly. If the Fund is a buyer of a credit default swap and no credit event occurs, the Fund will not earn any return on its investment. If the Fund is a seller of a credit default swap, the
113

State Street Variable Insurance Series Funds, Inc.
Notes to Schedule of Investments
March 31, 2023 (Unaudited)
 
Fund’s risk of loss may be the entire notional amount of the swap. Swaps may also subject the Fund to the risk that the counterparty to the transaction may not fulfill its obligation. In the case of centrally cleared swaps, counterparty risk is minimal due to protections provided by the CCP.
To-Be-Announced Transactions
The State Street Income V.I.S. Fund may seek to obtain exposure to U.S. agency mortgage pass-through securities through the use of “to-be-announced” or “TBA transactions.” “TBA” refers to a commonly used mechanism for the forward settlement of U.S. agency mortgage pass-through securities. In a TBA transaction, the buyer and seller decide on general trade parameters, such as agency, settlement date, coupon, and price.
The Fund may use TBA transactions to “roll over” such agreements prior to the settlement date. This type of TBA transaction is sometimes known as a “TBA roll.” In a TBA roll a Fund generally will sell the obligation to purchase the pools stipulated in the TBA agreement prior to the settlement date and will enter into a new TBA agreement for future delivery of pools of mortgage pass-through securities. A fund may also enter into TBA agreements and settle such transactions on the stipulated settlement date by accepting actual receipt or delivery of the pools of mortgage pass-through securities.
Default by or bankruptcy of a counterparty to a TBA transaction would expose the Fund to possible loss because of adverse market action, expenses or delays in connection with the purchase or sale of the pools of mortgage pass-through securities specified in the TBA transaction. To minimize this risk, the Fund will enter into TBA transactions only with established counterparties. The Fund’s use of “TBA rolls” may impact portfolio turnover, transaction costs and capital gain distributions to shareholders.
Delayed Delivery and When-Issued Securities
During the period, the State Street Income V.I.S. Fund transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed delivery or whenissued basis are identified as such in the Fund’s Schedule of Investments. The Fund may receive compensation for interest forgone in the purchase of a delayed delivery or when-issued security. With respect to such purchase commitments, the Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract’s terms, or if the issuer does not issue the securities due to political, economic or other factors.
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