Semi-Annual Report
March 31, 2022
SPDR® S&P 500® ETF Trust
A Unit Investment Trust
“Standard & Poor’s®”, “S&P®”, “S&P 500®”, “Standard & Poor’s 500®”, “500®”, “Standard & Poor’s Depositary Receipts®”, “SPDR®” and “SPDRs®” are trademarks of Standard & Poor’s Financial Services LLC and have been licensed for use by S&P Dow Jones Indices LLC (“S&P”) and sublicensed for use by State Street Global Advisors Funds Distributors, LLC. SPDR® S&P 500® ETF Trust is permitted to use these trademarks pursuant to a sublicense from State Street Global Advisors Funds Distributors, LLC. SPDR® S&P 500® ETF Trust is not sponsored, endorsed, sold or promoted by S&P, its affiliates or its third party licensors.




SPDR S&P 500® ETF Trust
Schedule of Investments
March 31, 2022 (Unaudited)

Common Stocks Shares Value
3M Co.

6,272,526 $ 933,853,671
A.O. Smith Corp.

1,457,085 93,093,161
Abbott Laboratories

19,421,037 2,298,673,939
AbbVie, Inc.

19,416,752 3,147,649,667
ABIOMED, Inc. (a)

496,637 164,506,040
Accenture PLC Class A

6,941,102 2,340,747,827
Activision Blizzard, Inc.

8,556,302 685,445,353
Adobe, Inc. (a)

5,180,735 2,360,446,481
Advance Auto Parts, Inc.

701,570 145,196,927
Advanced Micro Devices, Inc. (a)

17,954,940 1,963,193,140
AES Corp.

7,292,114 187,626,093
Aflac, Inc.

6,668,492 429,384,200
Agilent Technologies, Inc.

3,320,142 439,354,391
Air Products & Chemicals, Inc.

2,422,851 605,494,693
Akamai Technologies, Inc. (a)

1,782,302 212,789,036
Alaska Air Group, Inc. (a)

1,368,811 79,404,726
Albemarle Corp.

1,279,864 283,041,924
Alexandria Real Estate Equities, Inc. REIT

1,598,631 321,724,489
Align Technology, Inc. (a)

803,876 350,489,936
Allegion PLC

981,667 107,767,403
Alliant Energy Corp.

2,738,200 171,082,736
Allstate Corp.

3,081,719 426,848,899
Alphabet, Inc. Class A (a)

3,303,093 9,187,057,716
Alphabet, Inc. Class C (a)

3,050,834 8,520,948,854
Altria Group, Inc.

20,124,951 1,051,528,690
Amazon.com, Inc. (a)

4,806,319 15,668,359,624
Amcor PLC

16,866,168 191,093,683
Ameren Corp.

2,818,893 264,299,408
American Airlines Group, Inc. (a)

7,076,662 129,149,082
American Electric Power Co., Inc.

5,531,687 551,896,412
American Express Co.

6,755,177 1,263,218,099
American International Group, Inc.

9,100,835 571,259,413
American Tower Corp. REIT

5,001,638 1,256,511,498
Common Stocks Shares Value
American Water Works Co., Inc.

1,986,389 $ 328,806,971
Ameriprise Financial, Inc.

1,225,971 368,232,650
AmerisourceBergen Corp.

1,653,936 255,880,439
AMETEK, Inc.

2,529,976 336,942,204
Amgen, Inc.

6,173,541 1,492,885,685
Amphenol Corp. Class A

6,546,496 493,278,474
Analog Devices, Inc.

5,769,888 953,070,100
ANSYS, Inc. (a)

952,965 302,709,332
Anthem, Inc.

2,660,201 1,306,743,935
Aon PLC Class A

2,359,318 768,264,720
APA Corp.

3,980,462 164,512,494
Apple, Inc.

170,274,872 29,731,695,400
Applied Materials, Inc.

9,752,666 1,285,401,379
Aptiv PLC (a)

2,960,270 354,373,922
Archer-Daniels-Midland Co.

6,121,285 552,507,184
Arista Networks, Inc. (a)

2,458,998 341,751,542
Arthur J Gallagher & Co.

2,289,474 399,742,160
Assurant, Inc.

624,518 113,556,108
AT&T, Inc.

78,429,461 1,853,288,163
Atmos Energy Corp.

1,487,482 177,739,224
Autodesk, Inc. (a)

2,407,915 516,136,580
Automatic Data Processing, Inc.

4,629,691 1,053,439,890
AutoZone, Inc. (a)

226,594 463,289,561
AvalonBay Communities, Inc. REIT

1,527,847 379,471,359
Avery Dennison Corp.

907,143 157,815,668
Baker Hughes Co.

9,947,095 362,173,729
Ball Corp.

3,574,144 321,672,960
Bank of America Corp.

78,072,217 3,218,136,785
Bank of New York Mellon Corp.

8,125,413 403,264,247
Bath & Body Works, Inc.

2,894,875 138,375,025
Baxter International, Inc.

5,469,549 424,108,829
Becton Dickinson & Co.

3,142,651 835,945,166
Berkshire Hathaway, Inc. Class B (a)

20,113,924 7,098,404,919
Best Buy Co., Inc.

2,425,264 220,456,498
Biogen, Inc. (a)

1,609,679 338,998,397
 
See accompanying notes to financial statements.
1


SPDR S&P 500® ETF Trust
Schedule of Investments (continued)
March 31, 2022 (Unaudited)

Common Stocks Shares Value
Bio-Rad Laboratories, Inc. Class A (a)

235,312 $ 132,534,778
Bio-Techne Corp.

425,718 184,352,923
BlackRock, Inc.

1,563,222 1,194,567,356
Boeing Co. (a)

6,027,872 1,154,337,488
Booking Holdings, Inc. (a)

450,922 1,058,967,771
BorgWarner, Inc.

2,634,346 102,476,059
Boston Properties, Inc. REIT

1,554,359 200,201,439
Boston Scientific Corp. (a)

15,582,065 690,129,659
Bristol-Myers Squibb Co.

23,939,966 1,748,335,717
Broadcom, Inc.

4,534,473 2,855,266,959
Broadridge Financial Solutions, Inc.

1,270,595 197,844,347
Brown & Brown, Inc.

2,557,577 184,836,090
Brown-Forman Corp. Class B

1,999,156 133,983,435
C.H. Robinson Worldwide, Inc.

1,441,707 155,286,261
Cadence Design Systems, Inc. (a)

3,028,205 498,018,594
Caesars Entertainment, Inc. (a)

2,347,927 181,635,633
Campbell Soup Co.

2,236,327 99,673,094
Capital One Financial Corp.

4,545,912 596,832,786
Cardinal Health, Inc.

3,087,202 175,044,353
CarMax, Inc. (a)

1,782,735 171,998,273
Carnival Corp. (a)

8,738,825 176,699,042
Carrier Global Corp.

9,492,325 435,412,948
Catalent, Inc. (a)

1,967,252 218,168,247
Caterpillar, Inc.

5,929,831 1,321,284,943
Cboe Global Markets, Inc.

1,166,941 133,521,389
CBRE Group, Inc. Class A (a)

3,673,965 336,241,277
CDW Corp.

1,487,144 266,035,190
Celanese Corp.

1,193,161 170,466,912
Centene Corp. (a)

6,380,423 537,167,812
CenterPoint Energy, Inc.

6,895,704 211,284,371
Common Stocks Shares Value
Ceridian HCM Holding, Inc. (a)

1,476,180 $ 100,911,665
Cerner Corp.

3,233,429 302,519,617
CF Industries Holdings, Inc.

2,358,549 243,072,060
Charles River Laboratories International, Inc. (a)

549,841 156,138,349
Charles Schwab Corp.

16,480,825 1,389,498,356
Charter Communications, Inc. Class A (a)

1,308,996 714,083,498
Chevron Corp.

21,171,734 3,447,393,447
Chipotle Mexican Grill, Inc. (a)

307,070 485,793,952
Chubb, Ltd.

4,721,798 1,009,992,592
Church & Dwight Co., Inc.

2,685,626 266,897,512
Cigna Corp.

3,546,787 849,845,633
Cincinnati Financial Corp.

1,640,192 223,000,504
Cintas Corp.

968,411 411,952,355
Cisco Systems, Inc.

46,322,198 2,582,925,761
Citigroup, Inc.

21,749,973 1,161,448,558
Citizens Financial Group, Inc.

4,660,984 211,282,405
Citrix Systems, Inc.

1,356,859 136,907,073
Clorox Co.

1,344,279 186,895,109
CME Group, Inc.

3,947,343 938,915,006
CMS Energy Corp.

3,179,896 222,401,926
Coca-Cola Co.

42,696,221 2,647,165,702
Cognizant Technology Solutions Corp. Class A

5,751,805 515,764,354
Colgate-Palmolive Co.

9,230,726 699,965,953
Comcast Corp. Class A

49,684,816 2,326,243,085
Comerica, Inc.

1,465,928 132,563,869
Conagra Brands, Inc.

5,256,090 176,446,941
ConocoPhillips

14,302,343 1,430,234,300
Consolidated Edison, Inc.

3,877,812 367,151,240
Constellation Brands, Inc. Class A

1,800,356 414,657,994
Constellation Energy Corp.

3,567,003 200,643,937
 
See accompanying notes to financial statements.
2


SPDR S&P 500® ETF Trust
Schedule of Investments (continued)
March 31, 2022 (Unaudited)

Common Stocks Shares Value
Cooper Cos., Inc.

538,782 $ 224,989,975
Copart, Inc. (a)

2,338,893 293,460,905
Corning, Inc.

8,204,257 302,819,126
Corteva, Inc.

8,034,033 461,796,217
Costco Wholesale Corp.

4,870,047 2,804,416,565
Coterra Energy, Inc.

8,887,885 239,706,258
Crown Castle International Corp. REIT

4,730,133 873,182,552
CSX Corp.

24,311,986 910,483,876
Cummins, Inc.

1,571,096 322,247,501
CVS Health Corp.

14,424,063 1,459,859,416
D.R. Horton, Inc.

3,565,738 265,683,138
Danaher Corp.

6,989,058 2,050,100,383
Darden Restaurants, Inc.

1,425,629 189,537,376
DaVita, Inc. (a)

676,746 76,546,740
Deere & Co.

3,091,961 1,284,586,117
Delta Air Lines, Inc. (a)

7,002,389 277,084,533
DENTSPLY SIRONA, Inc.

2,390,867 117,678,474
Devon Energy Corp.

6,889,891 407,399,255
DexCom, Inc. (a)

1,058,524 541,540,878
Diamondback Energy, Inc.

1,862,404 255,298,340
Digital Realty Trust, Inc. REIT

3,116,729 441,952,172
Discover Financial Services

3,211,100 353,831,109
Discovery, Inc. Class A (a)

1,786,782 44,526,607
Discovery, Inc. Class C (a)

3,335,891 83,297,198
DISH Network Corp. Class A (a)

2,727,239 86,317,114
Dollar General Corp.

2,556,242 569,096,156
Dollar Tree, Inc. (a)

2,465,602 394,866,160
Dominion Energy, Inc.

8,896,078 755,899,748
Domino's Pizza, Inc.

403,455 164,210,220
Dover Corp.

1,575,093 247,132,092
Dow, Inc.

8,105,570 516,486,920
DTE Energy Co.

2,120,379 280,335,308
Duke Energy Corp.

8,418,776 940,040,528
Duke Realty Corp. REIT

4,182,647 242,844,485
Common Stocks Shares Value
DuPont de Nemours, Inc.

5,677,187 $ 417,727,419
DXC Technology Co. (a)

2,755,030 89,896,629
Eastman Chemical Co.

1,416,784 158,764,815
Eaton Corp. PLC

4,362,359 662,031,602
eBay, Inc.

6,859,316 392,764,434
Ecolab, Inc.

2,723,525 480,865,574
Edison International

4,155,122 291,274,052
Edwards Lifesciences Corp. (a)

6,857,103 807,218,165
Electronic Arts, Inc.

3,113,875 393,936,326
Eli Lilly & Co.

8,720,252 2,497,218,565
Emerson Electric Co.

6,540,790 641,324,460
Enphase Energy, Inc. (a)

1,473,137 297,249,584
Entergy Corp.

2,198,385 256,661,449
EOG Resources, Inc.

6,426,105 766,184,499
EPAM Systems, Inc. (a)

621,813 184,435,954
Equifax, Inc.

1,332,884 316,026,796
Equinix, Inc. REIT

988,907 733,393,209
Equity Residential REIT

3,728,794 335,293,156
Essex Property Trust, Inc. REIT

711,509 245,812,129
Estee Lauder Cos., Inc. Class A

2,552,697 695,150,447
Etsy, Inc. (a)

1,389,757 172,719,000
Everest Re Group, Ltd.

436,010 131,404,694
Evergy, Inc.

2,503,854 171,113,382
Eversource Energy

3,761,039 331,686,029
Exelon Corp.

10,701,016 509,689,392
Expedia Group, Inc. (a)

1,650,187 322,892,090
Expeditors International of Washington, Inc.

1,858,604 191,733,589
Extra Space Storage, Inc. REIT

1,464,549 301,111,274
Exxon Mobil Corp.

46,497,255 3,840,208,290
F5, Inc. (a)

657,896 137,467,369
FactSet Research Systems, Inc.

414,462 179,938,677
Fastenal Co.

6,289,549 373,599,211
Federal Realty Investment Trust REIT

767,203 93,652,470
FedEx Corp.

2,678,643 619,811,204
 
See accompanying notes to financial statements.
3


SPDR S&P 500® ETF Trust
Schedule of Investments (continued)
March 31, 2022 (Unaudited)

Common Stocks Shares Value
Fidelity National Information Services, Inc.

6,675,186 $ 670,322,178
Fifth Third Bancorp

7,492,112 322,460,500
First Republic Bank

1,965,723 318,643,698
FirstEnergy Corp.

6,262,364 287,192,013
Fiserv, Inc. (a)

6,521,772 661,307,681
FleetCor Technologies, Inc. (a)

890,054 221,676,849
FMC Corp.

1,409,243 185,414,102
Ford Motor Co.

43,200,467 730,519,897
Fortinet, Inc. (a)

1,483,610 507,008,881
Fortive Corp.

3,921,559 238,940,590
Fortune Brands Home & Security, Inc.

1,508,947 112,084,583
Fox Corp. Class A

3,538,596 139,597,612
Fox Corp. Class B

1,622,346 58,858,713
Franklin Resources, Inc.

3,009,020 84,011,838
Freeport-McMoRan, Inc.

16,069,775 799,310,609
Garmin, Ltd.

1,647,994 195,468,568
Gartner, Inc. (a)

910,241 270,760,288
Generac Holdings, Inc. (a)

690,520 205,263,975
General Dynamics Corp.

2,526,096 609,243,833
General Electric Co.

12,073,938 1,104,765,327
General Mills, Inc.

6,633,350 449,210,462
General Motors Co. (a)

15,886,670 694,882,946
Genuine Parts Co.

1,567,192 197,497,536
Gilead Sciences, Inc.

13,776,836 819,032,900
Global Payments, Inc.

3,127,455 427,960,942
Globe Life, Inc.

1,024,132 103,027,679
Goldman Sachs Group, Inc.

3,721,078 1,228,327,848
Halliburton Co.

9,869,241 373,748,157
Hartford Financial Services Group, Inc.

3,728,911 267,773,099
Hasbro, Inc.

1,408,021 115,345,080
HCA Healthcare, Inc.

2,624,864 657,843,416
Healthpeak Properties, Inc. REIT

5,897,206 202,451,082
Henry Schein, Inc. (a)

1,528,682 133,285,784
Hershey Co.

1,590,996 344,657,463
Hess Corp.

3,012,538 322,462,068
Common Stocks Shares Value
Hewlett Packard Enterprise Co.

14,291,838 $ 238,816,613
Hilton Worldwide Holdings, Inc. (a)

3,049,690 462,759,961
Hologic, Inc. (a)

2,782,528 213,753,801
Home Depot, Inc.

11,468,684 3,432,921,182
Honeywell International, Inc.

7,546,932 1,468,482,029
Hormel Foods Corp.

3,096,246 159,580,519
Host Hotels & Resorts, Inc. REIT

7,776,986 151,106,838
Howmet Aerospace, Inc.

4,223,824 151,804,235
HP, Inc.

11,891,491 431,661,123
Humana, Inc.

1,405,832 611,775,911
Huntington Bancshares, Inc.

15,851,103 231,743,126
Huntington Ingalls Industries, Inc.

439,278 87,609,604
IDEX Corp.

831,587 159,440,176
IDEXX Laboratories, Inc. (a)

931,015 509,321,066
Illinois Tool Works, Inc.

3,136,389 656,759,857
Illumina, Inc. (a)

1,713,756 598,786,346
Incyte Corp. (a)

2,059,738 163,584,392
Ingersoll Rand, Inc.

4,433,655 223,234,529
Intel Corp.

44,722,856 2,216,464,743
Intercontinental Exchange, Inc. (b)

6,162,260 814,157,791
International Business Machines Corp.

9,849,747 1,280,664,105
International Flavors & Fragrances, Inc.

2,790,359 366,457,847
International Paper Co.

4,276,783 197,373,535
Interpublic Group of Cos., Inc.

4,307,361 152,695,947
Intuit, Inc.

3,110,100 1,495,460,484
Intuitive Surgical, Inc. (a)

3,929,136 1,185,341,748
Invesco, Ltd.

3,736,018 86,152,575
IPG Photonics Corp. (a)

395,897 43,453,655
IQVIA Holdings, Inc. (a)

2,096,658 484,768,296
Iron Mountain, Inc. REIT

3,179,357 176,168,171
J.M. Smucker Co.

1,185,796 160,568,636
 
See accompanying notes to financial statements.
4


SPDR S&P 500® ETF Trust
Schedule of Investments (continued)
March 31, 2022 (Unaudited)

Common Stocks Shares Value
Jack Henry & Associates, Inc.

812,437 $ 160,090,711
Jacobs Engineering Group, Inc.

1,424,819 196,354,306
JB Hunt Transport Services, Inc.

920,688 184,864,944
Johnson & Johnson

28,913,588 5,124,355,201
Johnson Controls International PLC

7,792,834 510,976,125
JPMorgan Chase & Co.

32,457,870 4,424,656,838
Juniper Networks, Inc.

3,558,618 132,238,245
Kellogg Co.

2,779,990 179,281,555
KeyCorp.

10,201,126 228,301,200
Keysight Technologies, Inc. (a)

2,015,920 318,454,882
Kimberly-Clark Corp.

3,685,380 453,891,401
Kimco Realty Corp. REIT

6,772,586 167,282,874
Kinder Morgan, Inc.

21,330,314 403,356,238
KLA Corp.

1,661,657 608,266,161
Kraft Heinz Co.

7,762,196 305,752,900
Kroger Co.

7,438,638 426,754,662
L3Harris Technologies, Inc.

2,151,188 534,505,682
Laboratory Corp. of America Holdings (a)

1,022,616 269,622,935
Lam Research Corp.

1,542,869 829,461,803
Lamb Weston Holdings, Inc.

1,587,570 95,111,319
Las Vegas Sands Corp. (a)

3,776,047 146,774,947
Leidos Holdings, Inc.

1,538,132 166,149,019
Lennar Corp. Class A

2,870,638 233,009,686
Lincoln National Corp.

1,860,902 121,628,555
Linde PLC (a)

5,629,356 1,798,185,187
Live Nation Entertainment, Inc. (a)

1,483,763 174,549,879
LKQ Corp.

2,969,434 134,841,998
Lockheed Martin Corp.

2,661,988 1,175,001,503
Loews Corp.

2,234,244 144,823,696
Lowe's Cos., Inc.

7,399,707 1,496,146,758
Lumen Technologies, Inc.

10,098,273 113,807,537
LyondellBasell Industries NV Class A

2,887,483 296,891,002
Common Stocks Shares Value
M&T Bank Corp.

1,408,474 $ 238,736,343
Marathon Oil Corp.

8,626,005 216,598,986
Marathon Petroleum Corp.

6,359,066 543,700,143
MarketAxess Holdings, Inc.

415,588 141,383,038
Marriott International, Inc. Class A (a)

2,993,777 526,156,308
Marsh & McLennan Cos., Inc.

5,544,302 944,859,947
Martin Marietta Materials, Inc.

682,841 262,818,673
Masco Corp.

2,713,088 138,367,488
Mastercard, Inc. Class A

9,479,147 3,387,657,555
Match Group, Inc. (a)

3,103,182 337,440,011
McCormick & Co., Inc.

2,726,269 272,081,646
McDonald's Corp.

8,206,841 2,029,387,642
McKesson Corp.

1,645,083 503,609,259
Medtronic PLC

14,752,407 1,636,779,557
Merck & Co., Inc.

27,742,640 2,276,283,612
Meta Platforms, Inc. Class A (a)

25,360,687 5,639,202,361
MetLife, Inc.

7,706,706 541,627,298
Mettler-Toledo International, Inc. (a)

253,037 347,467,878
MGM Resorts International

4,136,886 173,500,999
Microchip Technology, Inc.

6,083,544 457,117,496
Micron Technology, Inc.

12,260,715 954,987,091
Microsoft Corp.

82,338,034 25,385,639,263
Mid-America Apartment Communities, Inc. REIT

1,260,845 264,083,985
Moderna, Inc. (a)

3,867,105 666,147,507
Mohawk Industries, Inc. (a)

612,046 76,016,113
Molina Healthcare, Inc. (a)

643,008 214,501,039
Molson Coors Beverage Co. Class B

2,074,911 110,758,749
Mondelez International, Inc. Class A

15,294,628 960,196,746
 
See accompanying notes to financial statements.
5


SPDR S&P 500® ETF Trust
Schedule of Investments (continued)
March 31, 2022 (Unaudited)

Common Stocks Shares Value
Monolithic Power Systems, Inc.

476,032 $ 231,199,222
Monster Beverage Corp. (a)

4,126,046 329,671,075
Moody's Corp.

1,772,060 597,910,765
Morgan Stanley

15,569,292 1,360,756,121
Mosaic Co.

4,060,371 270,014,672
Motorola Solutions, Inc.

1,853,195 448,843,829
MSCI, Inc.

901,820 453,507,242
Nasdaq, Inc.

1,271,742 226,624,424
NetApp, Inc.

2,453,025 203,601,075
Netflix, Inc. (a)

4,876,152 1,826,557,778
Newell Brands, Inc.

4,165,292 89,178,902
Newmont Corp.

8,745,251 694,810,192
News Corp. Class A

4,310,089 95,468,471
News Corp. Class B

1,351,116 30,427,132
NextEra Energy, Inc.

21,549,997 1,825,500,246
Nielsen Holdings PLC

3,943,787 107,428,758
NIKE, Inc. Class B

14,017,432 1,886,185,650
NiSource, Inc.

4,261,861 135,527,180
Nordson Corp.

595,928 135,323,330
Norfolk Southern Corp.

2,633,334 751,079,523
Northern Trust Corp.

2,280,295 265,540,353
Northrop Grumman Corp.

1,611,390 720,645,836
NortonLifeLock, Inc.

6,360,303 168,675,236
Norwegian Cruise Line Holdings, Ltd. (a)

4,578,880 100,185,894
NRG Energy, Inc.

2,696,510 103,438,124
Nucor Corp.

2,987,215 444,049,510
NVIDIA Corp.

27,457,429 7,492,034,077
NVR, Inc. (a)

35,913 160,433,068
NXP Semiconductors NV

2,920,895 540,599,247
Occidental Petroleum Corp.

9,707,589 550,808,600
Old Dominion Freight Line, Inc.

1,026,184 306,500,637
Omnicom Group, Inc.

2,345,705 199,103,440
ONEOK, Inc.

4,877,584 344,503,758
Oracle Corp.

17,304,644 1,431,613,198
O'Reilly Automotive, Inc. (a)

738,546 505,874,468
Organon & Co.

2,787,694 97,374,151
Common Stocks Shares Value
Otis Worldwide Corp.

4,670,088 $ 359,363,272
PACCAR, Inc.

3,799,605 334,631,212
Packaging Corp. of America

1,039,296 162,244,499
Paramount Global Class B

6,629,796 250,672,587
Parker-Hannifin Corp.

1,412,345 400,767,017
Paychex, Inc.

3,504,362 478,240,282
Paycom Software, Inc. (a)

525,811 182,130,414
PayPal Holdings, Inc. (a)

12,795,428 1,479,791,248
Penn National Gaming, Inc. (a)

1,821,002 77,246,905
Pentair PLC

1,814,670 98,373,261
People's United Financial, Inc.

4,690,491 93,762,915
PepsiCo, Inc.

15,194,289 2,543,220,093
PerkinElmer, Inc.

1,384,031 241,458,048
Pfizer, Inc.

61,646,255 3,191,426,621
Philip Morris International, Inc.

17,036,502 1,600,408,998
Phillips 66

5,126,830 442,906,844
Pinnacle West Capital Corp.

1,241,631 96,971,381
Pioneer Natural Resources Co.

2,482,490 620,696,975
PNC Financial Services Group, Inc.

4,631,713 854,319,463
Pool Corp.

439,052 185,653,138
PPG Industries, Inc.

2,597,160 340,409,761
PPL Corp.

8,312,982 237,418,766
Principal Financial Group, Inc.

2,730,557 200,450,189
Procter & Gamble Co.

26,327,177 4,022,792,646
Progressive Corp.

6,403,191 729,899,742
Prologis, Inc. REIT

8,127,399 1,312,412,391
Prudential Financial, Inc.

4,143,570 489,645,667
PTC, Inc. (a)

1,158,706 124,815,810
Public Service Enterprise Group, Inc.

5,533,094 387,316,580
Public Storage REIT

1,667,573 650,820,390
PulteGroup, Inc.

2,774,026 116,231,689
PVH Corp.

783,309 60,009,303
 
See accompanying notes to financial statements.
6


SPDR S&P 500® ETF Trust
Schedule of Investments (continued)
March 31, 2022 (Unaudited)

Common Stocks Shares Value
Qorvo, Inc. (a)

1,219,744 $ 151,370,230
QUALCOMM, Inc.

12,377,801 1,891,575,549
Quanta Services, Inc.

1,565,057 205,977,152
Quest Diagnostics, Inc.

1,335,883 182,828,947
Ralph Lauren Corp.

530,674 60,199,659
Raymond James Financial, Inc.

2,029,465 223,058,498
Raytheon Technologies Corp.

16,403,678 1,625,112,379
Realty Income Corp. REIT

6,202,596 429,839,903
Regency Centers Corp. REIT

1,673,064 119,356,386
Regeneron Pharmaceuticals, Inc. (a)

1,172,149 818,652,305
Regions Financial Corp.

10,442,639 232,453,144
Republic Services, Inc.

2,299,255 304,651,288
ResMed, Inc.

1,605,998 389,470,575
Robert Half International, Inc.

1,225,564 139,934,898
Rockwell Automation, Inc.

1,269,626 355,533,369
Rollins, Inc.

2,441,253 85,565,918
Roper Technologies, Inc.

1,153,690 544,807,029
Ross Stores, Inc.

3,908,140 353,530,344
Royal Caribbean Cruises, Ltd. (a)

2,462,784 206,332,044
S&P Global, Inc.

3,885,058 1,593,573,090
salesforce.com, Inc. (a)

10,818,038 2,296,885,828
SBA Communications Corp. REIT

1,198,760 412,493,316
Schlumberger NV

15,413,296 636,723,258
Seagate Technology Holdings PLC

2,198,705 197,663,580
Sealed Air Corp.

1,640,424 109,842,791
Sempra Energy

3,507,215 589,632,986
ServiceNow, Inc. (a)

2,196,680 1,223,309,125
Sherwin-Williams Co.

2,641,151 659,284,113
Signature Bank

688,963 202,203,751
Simon Property Group, Inc. REIT

3,596,476 473,152,383
Skyworks Solutions, Inc.

1,807,178 240,860,684
Common Stocks Shares Value
Snap-on, Inc.

590,333 $ 121,301,625
SolarEdge Technologies, Inc. (a)

578,201 186,394,656
Southern Co.

11,640,029 844,018,503
Southwest Airlines Co. (a)

6,474,546 296,534,207
Stanley Black & Decker, Inc.

1,774,020 247,990,256
Starbucks Corp.

12,633,759 1,149,293,056
State Street Corp. (c)

4,001,624 348,621,483
STERIS PLC

1,099,727 265,880,997
Stryker Corp.

3,687,517 985,857,670
SVB Financial Group (a)

641,528 358,902,840
Synchrony Financial

5,725,061 199,289,373
Synopsys, Inc. (a)

1,685,080 561,586,612
Sysco Corp.

5,596,409 456,946,795
T Rowe Price Group, Inc.

2,517,265 380,585,295
Take-Two Interactive Software, Inc. (a)

1,269,841 195,225,355
Tapestry, Inc.

2,899,533 107,717,651
Target Corp.

5,262,121 1,116,727,319
TE Connectivity, Ltd.

3,589,104 470,100,842
Teledyne Technologies, Inc. (a)

511,416 241,710,544
Teleflex, Inc.

511,600 181,531,028
Teradyne, Inc.

1,786,743 211,246,625
Tesla, Inc. (a)

9,194,152 9,907,618,195
Texas Instruments, Inc.

10,143,251 1,861,083,693
Textron, Inc.

2,415,307 179,650,535
Thermo Fisher Scientific, Inc.

4,327,748 2,556,184,356
TJX Cos., Inc.

13,101,349 793,679,722
T-Mobile US, Inc. (a)

6,448,451 827,658,686
Tractor Supply Co.

1,251,143 291,979,242
Trane Technologies PLC

2,598,721 396,824,697
TransDigm Group, Inc. (a)

578,670 377,026,652
Travelers Cos., Inc.

2,649,052 484,061,272
Trimble, Inc. (a)

2,752,692 198,579,201
Truist Financial Corp.

14,607,560 828,248,652
Twitter, Inc. (a)

8,731,883 337,836,553
Tyler Technologies, Inc. (a)

447,476 199,077,598
 
See accompanying notes to financial statements.
7


SPDR S&P 500® ETF Trust
Schedule of Investments (continued)
March 31, 2022 (Unaudited)

Common Stocks Shares Value
Tyson Foods, Inc. Class A

3,225,751 $ 289,124,062
UDR, Inc. REIT

3,284,479 188,430,560
Ulta Beauty, Inc. (a)

599,182 238,606,256
Under Armour, Inc. Class A (a)

2,083,115 35,454,617
Under Armour, Inc. Class C (a)

2,165,057 33,688,287
Union Pacific Corp.

6,994,888 1,911,073,350
United Airlines Holdings, Inc. (a)

3,515,170 162,963,281
United Parcel Service, Inc. Class B

8,008,443 1,717,490,686
United Rentals, Inc. (a)

791,576 281,175,711
UnitedHealth Group, Inc.

10,344,345 5,275,305,620
Universal Health Services, Inc. Class B

801,145 116,125,968
US Bancorp

14,831,963 788,318,833
Valero Energy Corp.

4,474,000 454,289,960
Ventas, Inc. REIT

4,375,969 270,259,845
VeriSign, Inc. (a)

1,064,717 236,856,944
Verisk Analytics, Inc.

1,765,195 378,863,803
Verizon Communications, Inc.

46,106,701 2,348,675,349
Vertex Pharmaceuticals, Inc. (a)

2,786,725 727,251,623
VF Corp.

3,539,491 201,255,458
Viatris, Inc.

13,229,869 143,940,975
Visa, Inc. Class A

18,214,356 4,039,397,730
Vontier Corp.

1 25
Vornado Realty Trust REIT

1,729,426 78,377,586
Vulcan Materials Co.

1,452,010 266,734,237
W.W. Grainger, Inc.

479,315 247,225,884
Walmart, Inc.

15,537,522 2,313,847,776
Walgreens Boots Alliance, Inc.

7,855,217 351,678,065
Walt Disney Co. (a)

19,996,066 2,742,660,413
Common Stocks Shares Value
Waste Management, Inc.

4,218,068 $ 668,563,778
Waters Corp. (a)

671,474 208,418,815
WEC Energy Group, Inc.

3,451,531 344,497,309
Wells Fargo & Co.

42,677,709 2,068,161,778
Welltower, Inc. REIT

4,772,431 458,821,516
West Pharmaceutical Services, Inc.

809,274 332,376,925
Western Digital Corp. (a)

3,436,604 170,627,389
Westinghouse Air Brake Technologies Corp.

2,068,789 198,955,438
Westrock Co.

2,905,393 136,640,633
Weyerhaeuser Co. REIT

8,203,155 310,899,575
Whirlpool Corp.

665,254 114,942,586
Williams Cos., Inc.

13,295,346 444,197,510
Willis Towers Watson PLC

1,365,346 322,522,032
WR Berkley Corp.

2,301,104 153,230,482
Wynn Resorts, Ltd. (a)

1,159,790 92,481,655
Xcel Energy, Inc.

5,892,000 425,225,640
Xylem, Inc.

1,971,673 168,104,840
Yum! Brands, Inc.

3,210,828 380,579,443
Zebra Technologies Corp. Class A (a)

584,234 241,697,606
Zimmer Biomet Holdings, Inc.

2,284,764 292,221,316
Zions Bancorp NA

1,665,114 109,164,874
Zoetis, Inc.

5,186,769 978,172,766
Total Common Stocks
(Cost $435,371,094,844)
  $420,466,686,115
(a) Non-income producing security.
(b) Affiliate of PDR Services LLC (the “Sponsor”). See the table below for more information.
(c) Affiliate of State Street Global Advisors Trust Company
(the "Trustee"). See the table below for more information.
PLC = Public Limited Company
REIT = Real Estate Investment Trust
 
See accompanying notes to financial statements.
8


SPDR S&P 500® ETF Trust
Schedule of Investments (continued)
March 31, 2022 (Unaudited)

The following table summarizes the value of the Trust’s investments according to the fair value hierarchy as of March 31, 2022.
Description Level 1 –
Quoted Prices
Level 2 –
Other Significant
Observable Inputs
Level 3 –
Significant
Unobservable Inputs
Total
ASSETS:        
INVESTMENTS:        
Common Stocks $420,466,686,115 $— $— $420,466,686,115
See accompanying notes to financial statements.
9


SPDR S&P 500® ETF Trust
Schedule of Investments (continued)
March 31, 2022 (Unaudited)

INVESTMENTS IN AFFILIATES OF THE TRUSTEE AND THE SPONSOR
SPDR S&P 500® ETF Trust has invested in State Street Corp., which is considered an affiliate of the Trustee and Intercontinental Exchange, Inc., which is considered an affiliate of the Sponsor. Amounts related to these investments at March 31, 2022 and for the six months then ended are (Note 3):
  Number of
Shares Held
at 9/30/21
Value at
9/30/21
  Cost of
Purchases*
  Proceeds
from
Shares Sold*
  Realized
Gain (Loss)
  Change in
Unrealized
Appreciation/
Depreciation
Number of
Shares Held
at 3/31/22
Value at
3/31/22
  Dividend
Income
Intercontinental Exchange, Inc.

5,931,479 $ 681,052,419   $465,976,522   $430,559,004   $77,319,324   $20,368,530 6,162,260 $ 814,157,791   $4,310,982
State Street Corp.

3,850,822 326,241,640   213,491,955   200,460,958   6,597,761   2,751,085 4,001,624 348,621,483   4,608,956
TOTAL

  $1,007,294,059   $679,468,477   $631,019,962   $83,917,085   $23,119,615   $1,162,779,274   $8,919,938
* Purchased and Sold figures include securities received or delivered from processing creations or redemptions of Units.
See accompanying notes to financial statements.
10


SPDR S&P 500® ETF Trust
Portfolio Statistics
March 31, 2022 (Unaudited)

INDUSTRY BREAKDOWN AS OF MARCH 31, 2022*
INDUSTRY % OF
NET ASSETS
Software

8.9%
Technology Hardware, Storage & Peripherals

7.4
Semiconductors & Semiconductor Equipment

6.0
Interactive Media & Services

5.7
IT Services

4.3
Pharmaceuticals

3.9
Internet & Direct Marketing Retail

3.9
Banks

3.8
Oil, Gas & Consumable Fuels

3.5
Health Care Providers & Services

3.0
Capital Markets

3.0
Health Care Equipment & Supplies

2.9
Automobiles

2.7
Equity Real Estate Investment Trusts (REITs)

2.6
Insurance

2.1
Specialty Retail

2.0
Biotechnology

1.9
Hotels, Restaurants & Leisure

1.9
Life Sciences Tools & Services

1.8
Chemicals

1.7
Electric Utilities

1.7
Diversified Financial Services

1.7
Aerospace & Defense

1.6
Machinery

1.6
Food & Staples Retailing

1.5
Beverages

1.5
Entertainment

1.4
Household Products

1.3
Diversified Telecommunication Services

1.0
Media

1.0
Road & Rail

1.0
Industrial Conglomerates

1.0
Food Products

1.0
Communications Equipment

0.9
Multi-Utilities

0.8
Air Freight & Logistics

0.6
Tobacco

0.6
Electronic Equipment, Instruments & Components

0.6
INDUSTRY % OF
NET ASSETS
Consumer Finance

0.6%
Textiles, Apparel & Luxury Goods

0.6
Electrical Equipment

0.5
Multiline Retail

0.5
Metals & Mining

0.5
Building Products

0.4
Commercial Services & Supplies

0.4
Energy Equipment & Services

0.3
Professional Services

0.3
Containers & Packaging

0.3
Household Durables

0.3
Airlines

0.2
Trading Companies & Distributors

0.2
Wireless Telecommunication Services

0.2
Personal Products

0.2
Construction Materials

0.1
Distributors

0.1
Auto Components

0.1
Real Estate Management & Development

0.1
Water Utilities

0.1
Health Care Technology

0.1
Construction & Engineering

0.1
Independent Power & Renewable Electricity Producers

0.0**
Gas Utilities

0.0**
Leisure Equipment & Products

0.0**
Other Assets in Excess of Liabilities

0.0**
Total 100.0%
* The Trust’s industry breakdown is expressed as a percentage of net assets and may change over time.
** Amount shown represents less than 0.05% of net assets.
See accompanying notes to financial statements.
11


SPDR S&P 500® ETF Trust
Statement of Assets and Liabilities
March 31, 2022 (Unaudited) 

ASSETS  
Investments in unaffiliated issuers, at value (Note 2)

$419,303,906,841
Investments in affiliates of the Trustee and the Sponsor, at value  

1,162,779,274
Total Investments

420,466,686,115
Cash

1,192,543,421
Receivable for units of fractional undivided interest (“Units”) issued in-kind

1,586,427
Dividends receivable — unaffiliated issuers (Note 2)

253,936,927
Dividends receivable — affiliated issuers (Note 2)

2,306,027
Total Assets

421,917,058,917
LIABILITIES  
Accrued Trustee expense (Note 3)

58,039,297
Accrued Marketing expense (Note 3)

9,747,554
Distribution payable

1,244,751,272
Accrued expenses and other liabilities

53,305,955
Total Liabilities

1,365,844,078
NET ASSETS

$420,551,214,839
NET ASSETS CONSIST OF:  
Paid-in Capital (Note 4)

$449,700,842,091
Total distributable earnings (loss)

(29,149,627,252)
NET ASSETS

$420,551,214,839
NET ASSET VALUE PER UNIT

$ 451.44
UNITS OUTSTANDING (UNLIMITED UNITS AUTHORIZED)

931,582,116
COST OF INVESTMENTS:  
Unaffiliated issuers

$434,197,495,764
Affiliates of the Trustee and the Sponsor (Note 3)

1,173,599,080
Total Cost of Investments

$435,371,094,844
See accompanying notes to financial statements.
12


SPDR S&P 500® ETF Trust
Statements of Operations

  Six Months Ended
3/31/22
(Unaudited)
  Year Ended
9/30/21
  Year Ended
9/30/20
  Year Ended
9/30/19
INVESTMENT INCOME              
Dividend income - unaffiliated issuers (Note 2)

$ 2,954,397,060   $ 5,063,477,430   $ 5,344,744,140   $ 5,569,189,037
Dividend income — affiliates of the Trustee and the Sponsor

8,919,938   15,321,426   15,314,759   14,842,022
Foreign taxes withheld

(604,710)   (484,053)    
Total Investment Income

2,962,712,288   5,078,314,803   5,360,058,899   5,584,031,059
EXPENSES              
Trustee expense (Note 3)

120,355,733   203,372,449   156,390,558   129,443,668
S&P license fee (Note 3)

62,360,627   105,207,778   85,102,695   79,275,442
Marketing expense (Note 3)

11,190,152   15,493,874   19,590,285   36,911,835
Legal and audit fees

257,969   616,921   405,831   605,028
Other expenses

1,329,085   4,823,485   4,688,948   1,591,672
Total Expenses

195,493,566   329,514,507   266,178,317   247,827,645
NET INVESTMENT INCOME (LOSS)

2,767,218,722   4,748,800,296   5,093,880,582   5,336,203,414
REALIZED AND UNREALIZED GAIN (LOSS)              
Net realized gain (loss) on:              
Investments — unaffiliated issuers

(661,287,699)   (3,076,057,194)   (2,843,848,543)   (1,874,707,476)
Investments — affiliates of the Trustee and the Sponsor

  (6,071,948)   (8,520,407)   (2,398,982)
In-kind redemptions — unaffiliated issuers

39,039,862,221   72,888,738,765   33,362,317,592   19,405,809,495
In-kind redemptions — affiliated issuers

83,917,085   114,827,869   79,983,578   39,060,086
Net realized gain (loss)

38,462,491,607   69,921,437,492   30,589,932,220   17,567,763,123
Net change in unrealized appreciation/depreciation on:              
Investments — unaffiliated issuers

(19,721,896,416)   11,150,654,602   4,637,256,785   (13,388,014,704)
Investments — affiliates of the Trustee and the Sponsor

23,119,615   69,456,986   (19,657,458)   (33,757,839)
Net change in unrealized appreciation/depreciation

(19,698,776,801)   11,220,111,588   4,617,599,327   (13,421,772,543)
NET REALIZED AND UNREALIZED GAIN (LOSS)

18,763,714,806   81,141,549,080   35,207,531,547   4,145,990,580
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS

$ 21,530,933,528   $85,890,349,376   $40,301,412,129   $ 9,482,193,994
See accompanying notes to financial statements.
13


SPDR S&P 500® ETF Trust
Statements of Changes in Net Assets

  Six Months
Ended
3/31/22
(Unaudited)
  Year Ended
9/30/21
  Year Ended
9/30/20
  Year Ended
9/30/19
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:              
Net investment income (loss)

$ 2,767,218,722   $ 4,748,800,296   $ 5,093,880,582   $ 5,336,203,414
Net realized gain (loss)

38,462,491,607   69,921,437,492   30,589,932,220   17,567,763,123
Net change in unrealized appreciation/depreciation

(19,698,776,801)   11,220,111,588   4,617,599,327   (13,421,772,543)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

21,530,933,528   85,890,349,376   40,301,412,129   9,482,193,994
NET EQUALIZATION CREDITS AND CHARGES (NOTE 2)

42,644,386   14,211,571   (28,962,904)   (53,196,888)
DISTRIBUTIONS TO UNITHOLDERS

(2,786,485,472)   (4,958,580,733)   (5,149,353,080)   (5,057,184,141)
INCREASE (DECREASE) IN NET ASSETS FROM UNIT TRANSACTIONS:              
Proceeds from issuance of Units

425,207,042,510   653,742,584,343   615,842,536,075   487,497,849,720
Cost of Units redeemed

(408,252,816,006)   (643,775,317,843)   (631,300,529,687)   (497,053,054,235)
Net income equalization (Note 2)

(42,644,386)   (14,211,571)   28,962,904   53,196,888
NET INCREASE (DECREASE) IN NET ASSETS FROM ISSUANCE AND REDEMPTION OF UNITS

16,911,582,118   9,953,054,929   (15,429,030,708)   (9,502,007,627)
NET INCREASE (DECREASE) IN NET ASSETS DURING THE PERIOD

35,698,674,560   90,899,035,143   19,694,065,437   (5,130,194,662)
NET ASSETS AT BEGINNING OF PERIOD

384,852,540,279   293,953,505,136   274,259,439,699   279,389,634,361
NET ASSETS AT END OF PERIOD

$ 420,551,214,839   $ 384,852,540,279   $ 293,953,505,136   $ 274,259,439,699
UNIT TRANSACTIONS:              
Units sold

941,500,000   1,652,950,000   2,081,250,000   1,753,650,000
Units redeemed

(906,550,000)   (1,633,250,000)   (2,128,300,000)   (1,791,100,000)
NET INCREASE (DECREASE)

34,950,000   19,700,000   (47,050,000)   (37,450,000)
See accompanying notes to financial statements.
14


SPDR S&P 500® ETF Trust
Financial Highlights
Selected data for a Unit outstanding throughout each period 

  Six Months
Ended
3/31/22
(Unaudited)
  Year Ended
9/30/21
  Year Ended
9/30/20
  Year Ended
9/30/19
  Year Ended
9/30/18
  Year Ended
9/30/17
Net asset value, beginning of period

$ 429.22   $ 335.21   $ 296.82   $ 290.60   $ 251.30   $ 216.40
Income (loss) from investment operations:                      
Net investment income (loss) (a)

3.02   5.44   5.59   5.71   4.86   4.65