Certificate of Accounting of Securities and Similar
Investments in the Custody of
Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
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1. Investment Company Act File Number:
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Date examination completed:
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811-08837
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July 31, 2019
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2. State Identification Number:
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AL
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AK
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AZ
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AR
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CA
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CO
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CT
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DE
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DC
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FL
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GA
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HI
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ID
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IL
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IN
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IA
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KS
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KY
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LA
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ME
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MD
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MA
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MI
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MN
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MS
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MO
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MT
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NE
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NV
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NH
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NJ
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NM
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NY
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NC
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ND
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OH
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OK
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OR
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PA
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RI
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SC
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SD
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TN
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TX
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UT
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VT
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VA
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WA
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WV
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WI
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WY
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PUERTO RICO
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Other (specify): ☐
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3. Exact name of investment company as specified in registration statement:
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The Select Sector SPDR Trust
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4. Address of principal executive office: (number, street, city, state, zip code)
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One Iron Street, Boston, MA 02210
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Report of Independent Accountants
To the Board of Trustees of The Select Sector SPDR Funds
We
have examined managements assertion, included in the accompanying Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940, that each of the funds listed in Appendix A (each a separate series of
The Select Sector SPDR Funds, hereafter collectively referred to as the Funds) complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940
(the Act) as of July 31, 2019. The Funds management is responsible for its assertion and the Funds compliance with those requirements. Our responsibility is to express an opinion on managements assertion about the
Funds compliance with the specified requirements based on our examination.
Our examination was conducted in accordance with the standards of the
Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain
reasonable assurance about whether managements assertion about compliance with the specified requirements is fairly stated, in all material respects, and, accordingly, included examining, on a test basis, evidence about the Funds
compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. Included among our procedures were the following tests performed as of July 31, 2019, and with respect to agreement of
security purchases and sales, for the period from September 30, 2018 (the date of our last examination), through July 31, 2019:
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Reconciliation of all securities shown on the books and records of the Funds to the statements from State Street
Bank and Trust Company (the Custodian);
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Confirmation of all securities of the Funds held at Depository Trust Company in book entry form and review of the
reconciliation procedures performed by the Custodian at an omnibus level between the depository and the books and records of the Custodian; The omnibus confirmation included, but was not limited to, securities held by the Funds;
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Confirmation of all securities on loan with the securities lending agent; and
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Agreement of 33 security purchases and 33 security sales since our last report from the books and records of the
Funds to subsequent security settlement through review of cash activity.
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We believe that our examination provides, and that the
evidence we obtained is sufficient and appropriate to provide, a reasonable basis for our opinion. Our examination does not provide a legal determination on the Funds compliance with the specified requirements.
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PricewaterhouseCoopers LLP, 101 Seaport Boulevard, Suite 500, Boston, MA 02210
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T: (617) 530 5000, F:(617) 530 5001, www.pwc.com/us
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In our opinion, managements assertion that each of the Select Sector SPDR Funds, as listed in Appendix A, complied
with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of July 31, 2019 with respect to securities reflected in the investment accounts of the Funds
are fairly stated, in all material respects.
This report is intended solely for the information and use of management and the Board of Trustees of The
Select Sector SPDR Funds and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than the specified parties.
Boston, Massachusetts
April 20, 2020
2
Appendix A
The Real
Estate Select Sector SPDR Fund
The Materials Select Sector SPDR Fund
The Industrial Select Sector SPDR Fund
The Technology Select
Sector SPDR Fund
The Health Care Select Sector SPDR Fund
The Consumer Staples Select Sector SPDR Fund
The Consumer
Discretionary Select Sector SPDR Fund
The Energy Select Sector SPDR Fund
The Financial Select Sector SPDR Fund
The Utilities Select
Sector SPDR Fund
The Communication Services Select Sector SPDR Fund
3
Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act
of 1940
We, as members of management of the Select Sector SPDR Funds as listed in Appendix A (the Funds), are responsible for complying
with the requirements of subsections (b) and (c) of Rule 17f-2, Custody of Investments by Registered Management Investment Companies, of the Investment Company Act of 1940. We are also responsible for
establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Funds compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of July 31, 2019, and from September 30, 2018 through July 31, 2019.
Based on this evaluation,
we assert that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of July 31, 2019, and from September 30, 2018
through July 31, 2019 with respect to securities reflected in the investment accounts of the Funds.
The Select Sector SPDR Funds
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By:
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/s/ Chad Hallett
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Chad Hallett
Treasurer
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April 20, 2020
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Date
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Appendix A
The Real Estate Select Sector SPDR Fund
The Materials Select Sector SPDR Fund
The Industrial Select Sector SPDR Fund
The Technology Select Sector SPDR Fund
The Health Care Select Sector SPDR Fund
The Consumer Staples Select Sector SPDR Fund
The Consumer Discretionary Select Sector SPDR Fund
The Energy Select Sector SPDR Fund
The Financial Select Sector SPDR Fund
The Utilities Select Sector SPDR Fund
The Communication Services Select Sector SPDR Fund
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