-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VMYrP5crv4CRnkStPsX4ZgTnnXkoQG0YsXWcaFFnNTHKcD7gzfGtehOo2d1oRH30 yis9p+ajM9i6FwLyNX4OcA== 0000950135-01-502647.txt : 20010828 0000950135-01-502647.hdr.sgml : 20010828 ACCESSION NUMBER: 0000950135-01-502647 CONFORMED SUBMISSION TYPE: N-30D PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010630 FILED AS OF DATE: 20010827 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STREETTRACKS SERIES TRUST CENTRAL INDEX KEY: 0001064642 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: N-30D SEC ACT: 1940 Act SEC FILE NUMBER: 001-16135 FILM NUMBER: 1723989 BUSINESS ADDRESS: STREET 1: 225 FRANKLIN ST STREET 2: C/O STATE STREET BANK & TRUST CO CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 2126260890 MAIL ADDRESS: STREET 1: 225 FRANKLIN STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: INDEX EXCHANGE LISTED SECURITIES TRUST DATE OF NAME CHANGE: 19980622 N-30D 1 b40191ssn-30d.txt STATE STREET BANK & TRUST 1 streetTRACKS(SM) ANNUAL REPORT JUNE 30, 2001 2 [streetTRACKS annual report] PRESIDENT'S LETTER TO SHAREHOLDERS Dear streetTRACKS Shareholders, The past year proved a challenging year for investors. Across the board, with few exceptions, equities lost ground. Concerns over the U.S. economy losing steam, coupled with rich valuations, contributed to increased volatility in the equity markets. While it is difficult to gauge whether all the bad news is behind us, expectations are that the economy and corporate profits should begin to improve early next year. As investors have stood on the sidelines the last several months, liquidity remains at high levels. When the economy begins to turn anticipated demand should form a strong base for a potential market rebound. Exchange Traded Funds (ETFs) continue to draw investor interest. At last count there are now over 150 funds worldwide with assets in excess of $85 billion. With pressure on returns and investors increasingly sensitive to the distribution of capital gains in periods of poor performance; the transparency, low costs, and tax efficiency of ETFs is drawing a greater number of savvy investors. Investors are also interested in gaining access to tools to effectively manage their asset allocation and risk management needs. The streetTRACKS family of ETFs provides these tools covering ten segments of the equity markets, from the mega, global companies represented in the Dow Jones Global Titans Index to the highest-yielding real estate investment trusts captured in the Wilshire REIT Index. We continue to work with investors and their advisors in helping them meet their investment objectives by integrating the streetTRACKS family of funds into their portfolios. As always, we appreciate the support and confidence of you, our shareholders. We look forward to continuing to build on your trust. Agustin J. Fleites President 1 3 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS STREETTRACKS DOW JONES U.S. LARGE CAP GROWTH INDEX FUND The streetTRACKS Dow Jones U.S. Large Cap Growth Index Fund (the "Fund") seeks to replicate the total return of the Dow Jones U.S. Large Cap Growth Index (the "Index"). To accomplish this, the Fund utilizes a "passive" or indexing approach and attempts to approximate the investment performance of its benchmark index, before expenses, by investing in a portfolio of stocks to replicate the Index. Since its commencement of operations, on September 25, 2000, through June 30, 2001, the Fund and its Index were down 37.48% and 37.39% respectively. For the six months ended June 30, 2001, the Fund returned -15.46% versus the Index return of -15.35%. The Federal Reserve has cut rates six times this year (to the tune of 275bps) in the hopes of sparking the economy and preventing a recession. While these rate cuts appear to have boosted confidence in the market, it has not been to the benefit of large cap growth stocks. In fact, those who are brave enough to remain in the equity markets seem to be avoiding growth stocks altogether and are instead seeking haven in both the small and mid cap spectrums as well as in value stocks across all capitalization ranges (large to small). These areas of the market were somewhat overlooked during the bull run of the mid-to-late 1990's. The first four months of the year were extremely volatile for the Fund which saw monthly returns of +8.87%, -18.91%, -12.64%, and 14.19%, respectively. The biggest gainers in the Fund during the six month period included Microsoft Corp. (+68.3%) and AOL Time Warner, Inc. (+52.3%). The biggest detractors to the Fund's performance were, not surprisingly, technology stocks. Tech "blue-chips" such as JDS Uniphase Corp. (-70.0%), EMC Corp (-54.1%), Cisco Systems, Inc. (-52.4%), Sun Microsystems, Inc. (-43.6%), and Oracle Corp. (-34.6%) combined to account for nearly half of the Fund's negative performance. Much like the last period, nearly eighty percent of the index constituents lost ground during the period with almost all of them recording double-digit declines. In terms of sector performance, Technology was the biggest factor in the Fund's negative performance for the period. This sector, which made up nearly 40% of the Fund at the end of the calendar year 2000, declined by -26.0% for the period. On the heels of the Technology sector were Communications Services (-25.5%) and Consumer Staples (-23.6%). The only sectors within the fund to achieve positive returns during the six months were Consumer Discretionary (+12.9%) and Industrials (+1.0%). Consumers continued to defy logic with their spending despite the fact that firms were laying off employees by the thousands. COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT DOW JONES U.S. LARGE CAP GROWTH INDEX FUND
DOW JONES U.S. LARGE CAP DOW JONES LARGE CAP INDEX GROWTH INDEX FUND (BROAD-BASED COMPARATIVE INDEX) ------------------------ ------------------------------- 9/25/00 10000 10000 9/30/00 9800 9969 10/31/00 9286 9854 11/30/00 7793 8908 12/31/00 7395 8882 1/31/01 8051 9209 2/28/01 6528 8232 3/31/01 5703 7629 4/30/01 6512 8249 5/31/01 6406 8270 6/30/01 6252 8039
2 4 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS TOP FIVE HOLDINGS AS OF JUNE 30, 2001 ----------------------------------------------------------------------------------------------------------------- DESCRIPTION GENERAL MICROSOFT PFIZER, AOL TIME INTEL ELECTRIC CO. CORP. INC. WARNER, INC. CORP. --------------------------------------------------------------------------------------------------------------------------- MARKET VALUE $3,473,584 2,410,606 1,815,947 1,621,694 1,412,424 --------------------------------------------------------------------------------------------------------------------------- % OF 14.28% 9.91 7.46 6.67 5.81 NET ASSETS ---------------------------------------------------------------------------------------------------------------------------
The following Performance chart is provided to compare the Fund's total return at NAV to the total return based on market price and its benchmark Index. The following chart is for comparative purposes only and represents the period noted. The Fund's past performance is no guarantee of future results. The investment return and principal value of Fund shares will vary with changes in market conditions, and may be worth more or less than their original cost when they are redeemed or sold in the market. PERFORMANCE FOR THE PERIOD ENDING JUNE 30, 2001
-------------------------------------------------------------------------------------------------------------------- CUMULATIVE TOTAL RETURN ----------------------------------------------------------------------------------- NET ASSET MARKET DOW JONES U.S. LARGE CAP DOW JONES LARGE CAP INDEX VALUE VALUE GROWTH INDEX (BROAD-BASED COMPARATIVE INDEX) ------------------------------------------------------------------------------------------------------------------ SINCE INCEPTION OF TRADING -36.21% -35.98% -36.11% -19.36% (1) ------------------------------------------------------------------------------------------------------------------
(1) For the period September 29, 2000 (commencement of trading on the AMEX) to June 30, 2001. 3 5 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS STREETTRACKS DOW JONES U.S. LARGE CAP VALUE INDEX FUND The streetTRACKS Dow Jones U.S. Large Cap Value Index Fund (the "Fund") seeks to replicate the total return of the Dow Jones U.S. Large Cap Value Index (the "Index"). To accomplish this, the Fund utilizes a "passive" or indexing approach and attempts to approximate the investment performance of its benchmark index, before expenses, by investing in a portfolio of stocks to replicate the Index. Since its commencement of operations, on September 25, 2000, through June 30, 2001, the Fund and its Index returned 1.28% and 1.38% respectively. For the six months ended June 30, 2001, the Fund and its Index returned -4.37% and -4.28%, respectively. Value stocks gained favor with investors after the Federal Reserve cut rates six times during the period in its attempts to stave off a recession, both domestically and globally. Energy prices cooled down late in the second quarter, reducing some of the fears of inflation and giving the market confidence in the Fed's rate cuts. Also, investors looked to value stocks that lagged significantly behind growth stocks in terms of performance for the latter part of the 1990's. These companies appear to remain far cheaper in terms of their valuations relative to their growth stock counterparts. The Large Cap Value Index has outperformed the Large Cap Growth Index by 11% during the first six months of 2001. The biggest gainers in the Fund during the six month period included Computer Associates International, Inc. (+84.8%), Lowes Companies, Inc. (+63.2%), Bank of America Corp. (+33.3%), and International Business Machines Corp. (+33.3%). The biggest losers for the Fund were Schering-Plough Corp. (-35.6%), CVS Corp. (-35.4%), and Merck & Co., Inc. (-31.1%). In terms of sector performance, the areas of Health Care and Consumer Services were the biggest detractors to the Fund's results as they declined -18.7% and - -9.2% respectively. Leading the way on the positive side were Technology (+36.2%), Consumer Discretionary (+5.9%), and Energy (+3.1%). COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT DOW JONES U.S. LARGE CAP VALUE INDEX FUND
DOW JONES LARGE CAP INDEX DOW JONES U.S. LARGE CAP VALUE (BROAD-BASED COMPARATIVE INDEX FUND INDEX) ------------------------------ ------------------------- 9/25/00 10000 10000 9/30/00 10175 9969 10/31/00 10519 9854 11/30/00 10244 8908 12/31/00 10592 8882 1/31/01 10512 9209 2/28/01 10166 8232 3/31/01 9812 7629 4/30/01 10244 8249 5/31/01 10444 8270 6/30/01 10128 8039
4 6 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS TOP FIVE HOLDINGS AS OF JUNE 30, 2001 ---------------------------------------------------------------------------------------------------------------- DESCRIPTION EXXON MOBIL CITIGROUP, INTERNATIONAL AMERICAN JOHNSON & CORP. INC. BUSINESS MACHINES INTERNATIONAL JOHNSON CORP. GROUP, INC. ---------------------------------------------------------------------------------------------------------------- MARKET VALUE $2,433,047 2,129,293 1,572,960 1,373,506 1,204,900 ---------------------------------------------------------------------------------------------------------------- % OF 6.26% 5.48 4.05 3.54 3.10 NET ASSETS ----------------------------------------------------------------------
The following Performance chart is provided to compare the Fund's total return at NAV to the total return based on market price and its benchmark Index. The following chart is for comparative purposes only and represents the period noted. The Fund's past performance is no guarantee of future results. The investment return and principal value of Fund shares will vary with changes in market conditions, and may be worth more or less than their original cost when they are redeemed or sold in the market. PERFORMANCE FOR THE PERIOD ENDING JUNE 30, 2001
-------------------------------------------------------------------------------------------------------------------- CUMULATIVE TOTAL RETURN ----------------------------------------------------------------------------------- NET ASSET MARKET DOW JONES U.S. LARGE CAP DOW JONES LARGE CAP INDEX VALUE VALUE VALUE INDEX (BROAD-BASED COMPARATIVE INDEX) ------------------------------------------------------------------------------------------------------------------ SINCE INCEPTION OF TRADING -0.47% -0.65% -0.37% -19.36% (1) ------------------------------------------------------------------------------------------------------------------
(1) For the period September 29, 2000 (commencement of trading on the AMEX) to June 30, 2001. 5 7 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS STREETTRACKS DOW JONES U.S. SMALL CAP GROWTH INDEX FUND The streetTRACKS Dow Jones U.S. Small Cap Growth Index Fund (the "Fund") seeks to replicate the total return of the Dow Jones U.S. Small Cap Growth Index (the "Index"). To accomplish this, the Fund utilizes a "passive" or indexing approach and attempts to approximate the investment performance of its benchmark index, before expenses, by investing in a portfolio of stocks to replicate the Index. Since its commencement of operations, on September 25, 2000, through June 30, 2001, the Fund and its Index were down 21.07% and 20.91% respectively. For the six month period ending June 30, 2001, the Fund was down 1.57% and its Index was down 1.33%. The continuing U.S. economic slump has hit growth stocks particularly hard as firms have cut back on capital expenditures amid a global slowdown. To meet revised earnings estimates firms have initiated cost cutting measures, attempting to make up for revenue shortfalls. The Federal Reserve has cut rates six times since January leaving the short-term rate at 3.75%. Considering the Fed Funds rate stood at 6.00% as of January 3rd, the actions taken would indicate that the Fed believes an economic stimulus is warranted to prevent the U.S. economy from sliding into a recession. Small cap growth stocks had a difficult first quarter amid speculation that the economy would not start seeing a rebound until the second half of 2001. A strong April return of 13.87% lifted the Fund to it's current calendar year to date return of -1.57%. The biggest gainers in the Fund during the six month period included Network Associates, Inc. (+197%), Earthlink, Inc. (+180%) and Answerthink, Inc. (+176%). The biggest losers for the Fund were PurchasePro.com, Inc. (-92%), XO Communications, Inc. (-89%) and Avanex Corp. (-84%). In terms of sector performance, Telecommunication Services was the largest negative contributor. This sector, which makes up 4.30% of the Fund, declined by 24.9% for the period. Energy was down -21.27% year to date, with negative contributions from Chesapeake Energy Corp. (-32.8%), Stone Energy Corp. (-31.4%) and Superior Energy Services, Inc. (-31.3%). Information Technology, the largest weight at +27.7% was down 9.50%. The best performing sector for the six months ending June 30, 2001 was Consumer Discretionary with a return of +14.6%. Notable names in this sector include IGEN International, Inc. (+111%), Jakks Pacific, Inc. (+105%) and Williams-Sonoma, Inc. (+94%). Comparison of Change in Value of a $10,000 Investment Dow Jones U.S. Small Cap Growth Index Fund
DOW JONES U.S. SMALL CAP DOW JONES SMALL INDEX (BROAD GROWTH INDEX FUND BASED COMPARATIVE INDEX) ------------------------ ---------------------------- 9/25/00 10000.00 10000.00 9/30/00 9988.00 10104.00 10/31/00 9321.00 9684.00 11/30/00 7568.00 8620.00 12/31/00 8019.00 9449.00 1/31/01 8629.00 9881.00 2/28/01 7391.00 9160.00 3/31/01 6585.00 8586.00 4/30/01 7499.00 9385.00 5/31/01 7691.00 9633.00 6/30/01 7893.00 9832.00
6 8 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS TOP FIVE HOLDINGS AS OF JUNE 30, 2001 --------------------------------------------------------------------------------------------------- DESCRIPTION SEI RITE AID CEPHALON, LINCARE INVESTMENTS CO. CORP. INC. HOLDINGS, INC. --------------------------------------------------------------------------------------------------- MARKET VALUE $226,145 212,787 210,301 193,745 --------------------------------------------------------------------------------------------------- % OF 1.14% 1.08 1.06 0.98 NET ASSETS --------------------------------------------------------------------------------------------------- DESCRIPTION EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. ------------------------------------------------------------------ MARKET VALUE 188,037 ---------------------------------------------------------------------------------- % OF 0.95 NET ASSETS -------------------------------------------------------------------------------------------
The following Performance chart is provided to compare the Fund's total return at NAV to the total return based on market price and its benchmark Index. The following chart is for comparative purposes only and represents the period noted. The Fund's past performance is no guarantee of future results. The investment return and principal value of Fund shares will vary with changes in market conditions, and may be worth more or less than their original cost when they are redeemed or sold in the market. PERFORMANCE FOR THE PERIOD ENDING JUNE 30, 2001
-------------------------------------------------------------------------------------------------------------------- CUMULATIVE TOTAL RETURN ----------------------------------------------------------------------------------- NET ASSET MARKET DOW JONES U.S. SMALL CAP DOW JONES SMALL CAP INDEX VALUE VALUE GROWTH INDEX (BROAD-BASED COMPARATIVE INDEX) ------------------------------------------------------------------------------------------------------------------ SINCE INCEPTION OF TRADING -20.97% -22.74% -20.82% -2.70% (1) ------------------------------------------------------------------------------------------------------------------
(1) For the period September 29, 2000 (commencement of trading on the AMEX) to June 30, 2001. 7 9 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS STREETTRACKS DOW JONES U.S. SMALL CAP VALUE INDEX FUND The streetTRACKS Dow Jones U.S. Small Cap Value Index Fund (the "Fund") seeks to replicate the total return of the Dow Jones U.S. Small Cap Value Index (the "Index"). To accomplish this, the Fund utilizes a "passive" or indexing approach and attempts to approximate the investment performance of its benchmark index, before expenses, by investing in a portfolio of stocks to replicate the Index. Since its commencement of operations, on September 25, 2000, through June 30, 2001, the Fund and its Index returned 26.69% and 27.33% respectively. For the six month period ending June 30, 2001, the Fund and its Index returned a positive 9.45% and 9.76% respectively. Value stocks had a strong year to date performance as investors concerns over the economy grew and focus was put back on company fundamentals. The slowdown in the global economy and the subsequent spillover into the U.S. markets has prompted the Federal Reserve to act quickly by initiating six rate cuts in 2001. The fed funds rate which stood at 6% on January 3rd is now at 3.75%. The Fund's low weighting in Technology (2.44%) further enhanced the Fund's performance as Technology issues continued their downward spiral in the second quarter. The significant rate cuts by the Fed has bolstered financial stocks which account for the largest weighting of the Fund. The biggest gainers in the Fund during the six month period were Champion Enterprises, Inc. (+313.8%), Stewart and Stevenson Services, Inc. (+293%), and Service Corporation International (+263.4%). All three of these names are in the Consumer Discretionary sector. The biggest losers for the Fund were APW Ltd. (-70.0%), Polaroid Corp. (-55.3%) and Crown Cork & Seal Co., Inc. (-49.6%). The sector that had the best performance was Consumer Discretionary (+18.14%). Other notable names in the sector were Pep Boys-Manny, Moe & Jack (+213.5%), PETsMART, Inc. (+145.2) and Navigant Consulting Co. (+115.0%). Names that didn't fare too well in that sector were Footstar, Inc. (-30.5%), Federal-Mogul, Corp. (-26.9%) and Dress Barn, Inc. (-21.6%). The Consumer Staples sector also had strong performance with a year to date return of +15.71%. The best performing name in that sector was Fleming Cos., Inc. (+202.6%). The worst performer was Tyson Foods, Inc. (-27.1%). The worst performing sector for the six month period was Utilities (-3.80%) with Information Technology right behind with a return of (-2.9%). The best and worst performing name in the Utility sector was Public Services Co. of New Mexico, Inc. (+21.2%) and IDACORP, Inc. (-27.0%) respectively. COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT DOW JONES U.S. SMALL CAP VALUE INDEX FUND
DOW JONES U.S. SMALL CAP VALUE DOW JONES SMALL CAP INDEX INDEX FUND (BROAD-BASED COMPARATIVE INDEX) ------------------------------ ------------------------------- 9/25/00 10000.00 10000.00 9/30/00 10195.00 10104.00 10/31/00 10249.00 9684.00 11/30/00 10234.00 8620.00 12/31/00 11575.00 9449.00 1/31/01 11599.00 9881.00 2/28/01 11740.00 9160.00 3/31/01 11449.00 8586.00 4/30/01 11964.00 9385.00 5/31/01 12426.00 9633.00 6/30/01 12669.00 9832.00
8 10 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS TOP FIVE HOLDINGS AS OF JUNE 30, 2001 ----------------------------------------------------------------------------------------------------------------------- DESCRIPTION EVEREST RE MANOR SOVEREIGN OLD REPUBLIC OCEAN GROUP, LTD. CARE, INC. BANCORP, INC. INTERNATIONAL CORP. ENERGY, INC. ----------------------------------------------------------------------------------------------------------------------- MARKET VALUE $281,398 267,716 265,746 265,205 247,790 ----------------------------------------------------------------------------------------------------------------------- % OF 1.09% 1.04 1.03 1.03 0.96 NET ASSETS -----------------------------------------------------------------------------------------------------------------------
The following Performance chart is provided to compare the Fund's total return at NAV to the total return based on market price and its benchmark Index. The following chart is for comparative purposes only and represents the period noted. The Fund's past performance is no guarantee of future results. The investment return and principal value of Fund shares will vary with changes in market conditions, and may be worth more or less than their original cost when they are redeemed or sold in the market. PERFORMANCE FOR THE PERIOD ENDING JUNE 30, 2001
-------------------------------------------------------------------------------------------------------------------- CUMULATIVE TOTAL RETURN ----------------------------------------------------------------------------------- NET ASSET MARKET DOW JONES U.S. SMALL CAP DOW JONES SMALL CAP INDEX VALUE VALUE VALUE INDEX (BROAD-BASED COMPARATIVE INDEX) ------------------------------------------------------------------------------------------------------------------ SINCE INCEPTION OF TRADING 24.27% 23.38% 24.89% -2.70% (1) ------------------------------------------------------------------------------------------------------------------
(1) For the period September 29, 2000 (commencement of trading on the AMEX) to June 30, 2001. 9 11 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS STREETTRACKS DOW JONES GLOBAL TITANS INDEX FUND The streetTRACKS Dow Jones Global Titans Index Fund (the "Fund") seeks to replicate the total return of the Dow Jones Global Titans Index (the "Index"). To accomplish this, the Fund utilizes a "passive" or indexing approach and attempts to approximate the investment performance of its benchmark index, before expenses, by investing in a portfolio of stocks to replicate the Index. Since its commencement of operations, on September 25, 2000, through June 30, 2001, the Fund and its Index were down 15.54% and 15.23% respectively. For the six months ending June 30, 2001, the Fund and its Index returned -7.67% and - -7.52%, respectively. At the midyear point, the Fund had 67.7% of its assets invested in U.S. stocks, 28.7% in Europe, and 3.6% in Japan. After a difficult first quarter, thoughts of a rebound led to a resurgence in the second quarter for the U.S. stocks in the Fund. This led to the U.S. issues having a positive return of almost 5% during the first half of the year. By comparison during this period, only the Global Titans' German stocks (.76%) were able to post a positive return within the European region. Other notable country level performance for this Fund included Switzerland (with a decline of over 9%) and the United Kingdom (with a decline of nearly 13%). These returns paled in comparison to the performance of Finland. Propelled by Nokia's troubles, it had the largest decline (-48.5%) among the Euroland countries. Though only Toyota posted a positive return among the Japanese stocks in this Index, Toyota's return (12.22%) was still enough for Japan to have a return of 2.8%. Markets during the first half of the year were colored by volatility and turmoil. The stocks in this Index were no exception. Overall, declining issues outnumbered gainers by a nearly 2:1 ratio. Within the group of stocks posting double-digit returns, this ratio was even larger (over 2.5:1). The best performing issues were Microsoft Corp. (68.3%) and International Business Machines, Inc. (33.26%). The worst performing stocks were Cisco Systems, Inc. (-52.42%) and Nokia. Despite Cisco's position as the worst performing stock in this Index, Technology was still the best performing sector (25.5%). This was made possible through the previously mentioned returns of International Business Machines and Microsoft. As would be expected with the performance of Nokia, Telecommunications was the worst performing sector with a decline of approximately 13%. COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT DOW JONES GLOBAL TITANS INDEX FUND
DOW JONES GLOBAL TITANS INDEX DOW JONES LARGE CAP INDEX FUND (BROAD-BASED COMPARATIVE INDEX) ----------------------------- ------------------------------- 9/25/00 10000 10000 9/30/00 9982 9969 10/31/00 10111 9854 11/30/00 9346 8908 12/31/00 9147 8882 1/31/01 9502 9209 2/28/01 8601 8232 3/31/01 8107 7629 4/30/01 8815 8249 5/31/01 8702 8270 6/30/01 8446 8039
10 12 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS TOP FIVE HOLDINGS AS OF JUNE 30, 2001 ----------------------------------------------------------------------------------------------------- DESCRIPTION GENERAL MICROSOFT EXXON MOBIL CITIGROUP, PFIZER, ELECTRIC CO. CORP. CORP. INC. INC. ----------------------------------------------------------------------------------------------------- MARKET VALUE $1,667,689 1,154,057 1,043,745 913,868 873,090 ----------------------------------------------------------------------------------------------------- % OF 7.87% 5.45 4.93 4.31 4.12 NET ASSETS -----------------------------------------------------------------------------------------------------
The following Performance chart is provided to compare the Fund's total return at NAV to the total return based on market price and its benchmark Index. The following chart is for comparative purposes only and represents the period noted. The Fund's past performance is no guarantee of future results. The investment return and principal value of Fund shares will vary with changes in market conditions, and may be worth more or less than their original cost when they are redeemed or sold in the market. PERFORMANCE FOR THE PERIOD ENDING JUNE 30, 2001
-------------------------------------------------------------------------------------------------------------------- CUMULATIVE TOTAL RETURN ----------------------------------------------------------------------------------- NET ASSET MARKET DOW JONES GLOBAL DOW JONES LARGE CAP INDEX VALUE VALUE TITANS U.S. CLOSE INDEX (BROAD-BASED COMPARATIVE INDEX) ------------------------------------------------------------------------------------------------------------------ SINCE INCEPTION OF TRADING -15.39% -15.60% -15.09% -19.36% (1) ------------------------------------------------------------------------------------------------------------------
(1) For the period September 29, 2000 (commencement of trading on the AMEX) to June 30, 2001. 11 13 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS STREETTRACKS WILSHIRE REIT INDEX FUND The streetTRACKS Wilshire REIT Index Fund (the "Fund") seeks to replicate the total return of the Wilshire REIT Index (the "Index"). To accomplish this, the Fund utilizes a "passive" or indexing approach and attempts to approximate the investment performance of its benchmark index, before expenses, by investing in a portfolio of stocks to replicate the Index. Since its commencement of operations, on April 23, 2001, through June 30, 2001, the Fund and its Index returned 11.22% and 11.33% respectively. The REIT market continued to perform well, in the second quarter of 2001, in both absolute and relative terms. The Wilshire REIT Index was up 10.90% for the quarter, well ahead of most other broader market indices. This brings the year-to-date return to 9.76%, which is also well ahead of broader market benchmarks. Many investors have been surprised by the strong performance of REITs this year considering the group was up over 30% last year. These investors seem concerned that share prices are getting ahead of themselves in this typically slow growth sector. We feel there are three major forces behind the relative out-performance of REIT share prices in the second quarter especially in the face of a slowing economy. First, REITs have demonstrated relative stability of cash flow growth, due to the contractual nature of leases. Because most leases are long term in nature, and most management teams work to re-lease space before the lease actually expires, most REITs go into each quarter with over 90% of their sales pre-committed. The second reason we feel REITs have outperformed is the relative attractiveness of the dividend yield of REITs in this uncertain market environment. REITs are still yielding over 7%. While dividend payments were out of favor with investors during most of the bull market in the 90's, the market volatility of the new millennium has enticed investors to seek out investments with more attractive current returns. Also, as the Fed has continued to cut interest rates this year, finding assets that produce attractive and safe yields has become very difficult. The third reason we feel REITs have continued to perform well is the attention REITs have been gaining from investors who historically have not focused on the group. This new found popularity seems to have reached new levels given the recent announcement by Standard and Poor's that they are currently examining the potential of including REITs in the S&P 500. While it is too soon to speculate what S&P will ultimately decide, the relative out-performance of REITs over the past 18 months has certainly motivated nontraditional REIT investors to take a close look at the asset class, and this attention from S&P just adds to this. The biggest gainers in the Fund during the period included JP Realty (+31.1%), Equity Inns (+28.2%) and Crown American Realty (+27.6%). The biggest losers for the Fund were Konover Property Trust (-29.0%), First Union Real Estate (-10.2%) and East Group Properties (-1.2). COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT WILSHIRE REIT INDEX FUND
DOW JONES SMALL CAP INDEX (BROAD-BASED COMPARATIVE WILSHIRE REIT INDEX FUND INDEX) ------------------------ ------------------------- 4/23/01 10000.00 10000.00 4/30/01 10259.00 10548.00 5/31/01 10505.00 10827.00 6/30/01 11122.00 11048.00
12 14 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS TOP FIVE HOLDINGS AS OF JUNE 30, 2001 ---------------------------------------------------------------------------------------------------------------------------- DESCRIPTION EQUITY OFFICE EQUITY RESIDENTIAL SIMON PROPERTY SPIEKER PROLOGIS PROPERTIES TRUST PROPERTIES TRUST GROUP, INC. PROPERTIES, INC. TRUST ---------------------------------------------------------------------------------------------------------------------------- MARKET VALUE $1,380,966 1,066,250 722,697 567,487 557,662 ---------------------------------------------------------------------------------------------------------------------------- % OF 7.62% 5.88 3.99 3.13 3.08 NET ASSETS ----------------------------------------------------------------------------------------------------------------------------
The following Performance chart is provided to compare the Fund's total return at NAV to the total return based on market price and its benchmark Index. The following chart is for comparative purposes only and represents the period noted. The Fund's past performance is no guarantee of future results. The investment return and principal value of Fund shares will vary with changes in market conditions, and may be worth more or less than their original cost when they are redeemed or sold in the market. PERFORMANCE FOR THE PERIOD ENDING JUNE 30, 2001
--------------------------------------------------------------------------------------------------------------------- CUMULATIVE TOTAL RETURN ---------------------------------------------------------------------------------- NET ASSET MARKET WILSHIRE REIT DOW JONES SMALL CAP INDEX VALUE VALUE INDEX (BROAD-BASED COMPARATIVE INDEX) ------------------------------------------------------------------------------------------------------------------ SINCE INCEPTION OF TRADING (1) 8.51% 7.90% 8.61% 5.38% ------------------------------------------------------------------------------------------------------------------
(1) For the period April 27, 2001 (commencement of trading on the AMEX) to June 30, 2001. 13 15 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS STREETTRACKS MORGAN STANLEY HIGH TECH 35 INDEX FUND The streetTRACKS Morgan Stanley High Tech 35 Index Fund (the "Fund") seeks to replicate the total return of the Morgan Stanley High Tech 35 Index (the "Index"). To accomplish this, the Fund utilizes a "passive" or indexing approach and attempts to approximate the investment performance of its benchmark index, before expenses, by investing in a portfolio of stocks to replicate the Index. Since its commencement of operations, on September 25, 2000, through June 30, 2001, the Fund and its Index were down 40.52% and 40.76% respectively. The Fund dropped 13.50% for the first half of 2001, while the Index returned -13.29% for the same period. The first quarter brought the Fund down 21.59%, while the second quarter rose 10.33% due mainly to a short lived reprieve in April. Many of the electronics based technology companies continued to decline due to delays in technology spending and a collapse of communication stocks. Comprising over ninety percent of the Fund's weight, the Technology sector drop was led by Communications Equipment, Computer Hardware, and Electronics-Semiconductors. The gains from the top two performers within the Index, classified within the Computer Software/Services industry, failed to keep the Index in positive territory. For the six month period, the largest positive performers in the Index included Computer Associates International, Inc. (+84.8%), Microsoft Corp. (+68.3%), and AOL Time Warner, Inc.(+52.3%). The largest negative performers in the Index over the same period were Palm, Inc. (-78.6%), Juniper Networks, Inc. (-75.3%), Sycamore Networks, Inc. (-75.0%), and Nortel Networks Corp. (-71.7%). COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT MORGAN STANLEY HIGH TECH 35 INDEX FUND
MORGAN STANLEY HIGH TECH 35 DOW JONES LARGE CAP INDEX INDEX FUND (BROAD-BASED COMPARATIVE INDEX) --------------------------- ------------------------------- 09/25/00 10000.00 10000.00 09/30/00 9725.00 9969.00 10/31/00 9485.00 9854.00 11/30/00 7243.00 8908.00 12/31/00 6876.00 8882.00 1/31/01 8096.00 9209.00 2/28/01 6106.00 8232.00 3/31/01 5391.00 7629.00 4/30/01 6245.00 8249.00 5/31/01 5851.00 8270.00 6/30/01 5948.00 8039.00
14 16 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS TOP FIVE HOLDINGS AS OF JUNE 30, 2001 --------------------------------------------------------------------------------------------------------- DESCRIPTION ELECTRONIC MICROSOFT COMPUTER DELL INTERNATIONAL ARTS CORP. ASSOCIATES COMPUTER BUSINESS CORP. MACHINES INTERNATIONAL, CORP. INC. --------------------------------------------------------------------------------------------------------- MARKET VALUE $4,026,598 3,906,011 3,894,732 3,462,678 3,387,740 --------------------------------------------------------------------------------------------------------- % OF NET ASSETS 5.54% 5.37 5.36 4.76 4.66 ---------------------------------------------------------------------------------------------------------
The following Performance chart is provided to compare the Fund's total return at NAV to the total return based on market price and its benchmark Index. The following chart is for comparative purposes only and represents the period noted. The Fund's past performance is no guarantee of future results. The investment return and principal value of Fund shares will vary with changes in market conditions, and may be worth more or less than their original cost when they are redeemed or sold in the market. PERFORMANCE FOR THE PERIOD ENDING JUNE 30, 2001
-------------------------------------------------------------------------------------------------------------------- CUMULATIVE TOTAL RETURN ----------------------------------------------------------------------------------- NET ASSET MARKET MORGAN STANLEY DOW JONES LARGE CAP INDEX VALUE VALUE HIGH TECH 35 INDEX (BROAD-BASED COMPARATIVE INDEX) ------------------------------------------------------------------------------------------------------------------ SINCE INCEPTION OF TRADING -38.84% -38.45% -39.09% -19.36% (1) ------------------------------------------------------------------------------------------------------------------
(1) For the period September 29, 2000 (commencement of trading on the AMEX) to June 30, 2001. 15 17 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS STREETTRACKS MORGAN STANLEY INTERNET INDEX FUND The streetTRACKS Morgan Stanley Internet Index Fund (the "Fund") seeks to replicate the total return of the Morgan Stanley Internet Index (the "Index"). To accomplish this, the Fund utilizes a "passive" or indexing approach and attempts to approximate the investment performance of its benchmark index, before expenses, by investing in a portfolio of stocks to replicate the Index. Since its commencement of operations, on September 25, 2000, through June 30, 2001, the Fund and its Index were down 71.92% and 71.55% respectively. The Fund returned a disappointing -32.28% for the first half of 2001, while the Index returned -31.89% for the same period. The month of April helped boost the second quarter by rallying 20.38% and 20.19% for the Fund and Index, respectively. All but six of the component members, within this Index of the leading companies driving the growth of the Internet, contributed negative double digit returns for the first half of 2001. Delays in technology spending, negative earnings reports, and a collapse in communication stocks continued to hammer the Internet based companies. The Computer Software/Services industry, within the Technology sector, comprises approximately sixty-four percent of the Fund and was the major contributor to the decline for the period. For the six month period, the largest positive performers in the Index included eBay, Inc. (107.5%), Microsoft Corp. (68.3%), and AOL Time Warner, Inc. (52.3%). The largest negative performers in the Index over the same period were Ariba, Inc. (-89.7%), Exodus Communications, Inc. (-89.7%), and Sycamore Networks, Inc. (-75.0%). COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT MORGAN STANLEY INTERNET INDEX FUND
DOW JONES LARGE CAP INDEX MORGAN STANLEY INTERNET INDEX (BROAD-BASED COMPARATIVE FUND INDEX) ----------------------------- ------------------------- 09/25/00 10000.00 10000.00 09/30/00 9539.00 9969.00 10/31/00 7594.00 9854.00 11/30/00 4929.00 8908.00 12/31/00 4147.00 8882.00 1/31/01 4626.00 9209.00 2/28/01 3322.00 8232.00 3/31/01 2423.00 7629.00 4/30/01 2916.00 8249.00 5/31/01 2922.00 8270.00 6/30/01 2808.00 8039.00
16 18 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS TOP FIVE HOLDINGS AS OF JUNE 30, 2001 ----------------------------------------------------------------------------------------------------------- DESCRIPTION VERTICALNET, CNET ORACLE WEBMD INC. HOMESTORE.COM, NETWORKS, CORP. CORP. INC. INC. ----------------------------------------------------------------------------------------------------------- MARKET $321,150 265,696 263,835 VALUE 261,364 257,964 ----------------------------------------------------------------------------------------------------------- % OF 4.74% 3.92 3.89 3.86 3.81 NET ASSETS -----------------------------------------------------------------------------------------------------------
The following Performance chart is provided to compare the Fund's total return at NAV to the total return based on market price and its benchmark Index. The following chart is for comparative purposes only and represents the period noted. The Fund's past performance is no guarantee of future results. The investment return and principal value of Fund shares will vary with changes in market conditions, and may be worth more or less than their original cost when they are redeemed or sold in the market. PERFORMANCE FOR THE PERIOD ENDING JUNE 30, 2001
-------------------------------------------------------------------------------------------------------------------- CUMULATIVE TOTAL RETURN ----------------------------------------------------------------------------------- NET ASSET MARKET MORGAN STANLEY DOW JONES LARGE CAP INDEX VALUE VALUE INTERNET INDEX (BROAD-BASED COMPARATIVE INDEX) ------------------------------------------------------------------------------------------------------------------ SINCE INCEPTION OF TRADING -70.56% -71.07% -70.17% -19.36% (1) ------------------------------------------------------------------------------------------------------------------
(1) For the period September 29, 2000 (commencement of trading on the AMEX) to June 30, 2001. 17 19 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS FORTUNE 500(R) INDEX FUND The FORTUNE 500(R) Index Fund (the "Fund") seeks to replicate the total return of the FORTUNE 500(R) Index (the "Index"). To accomplish this, the Fund utilizes a "passive" or indexing approach and attempts to approximate the investment performance of its benchmark index, before expenses, by investing in a portfolio of stocks to replicate the Index. Since its commencement of operations, on October 4, 2000, through June 30, 2001, the Fund and its Index were down 10.22% and 10.12% respectively. The Fund returned -5.16% for the first half of 2001, while the Index returned -5.07% for the same period, and the S&P 500 Index returned -6.70%. Returns for the Fund and Index dropped in the first quarter by 10.05% and 10.01%, respectively. Improvements in the second quarter produced a gain of 5.44% for the Fund and the Index delivered 5.50% for the three-month period. The fall of technology, rising energy prices, weak business demand, a strong dollar, and delays in capital spending all played a part in the year-to-date lackluster performance, while low interest rates and stable consumer demand have prevented the Index from dropping precariously. The Consumer Cyclicals Sector had the best sector return in the first half, gaining 6.45%. Somewhat surprisingly, Health Care had the worst return, dropping 17.45%. Technology was down 10.08% for the first half. A strong April rebound helped move technology stocks off the bottom of the charts. Commercial and Consumer Services was the top performing industry, rising over 64% in the six month period. Rite Aid Corp. was the top performing stock in the Index, rising nearly +279%. Fleming Companies, Inc. rose +202% and Sonic Automotive, Inc. rose +177.8%, rounding out the top 3 performers. Comdisco, Inc. was the worst performer in the Index, losing -88.35% of its value in the six month period. USG Corp. fell - -81.22% and Corning, Inc. fell -68.20%, ranking second and third from the bottom. COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT FORTUNE 500(R) INDEX FUND
S&P 500 Index (broad-based FORTUNE 500(R) Index Fund comparative index) ------------------------- -------------------------- 10/4/00 10000.00 10000.00 10/31/00 10061.00 9971.00 11/30/00 9407.00 9185.00 12/31/00 9467.00 9230.00 1/31/01 9762.00 9558.00 2/28/01 9018.00 8686.00 3/31/01 8516.00 8135.00 4/30/01 9117.00 8768.00 5/31/01 9188.00 8826.00 6/30/01 8978.00 8612.00
18 20 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS TOP FIVE HOLDINGS AS OF JUNE 30, 2001 ------------------------------------------------------------------------------------------------------------- DESCRIPTION GENERAL MICROSOFT EXXON MOBILE CITIGROUP, PFIZER ELECTRIC CO. CORP. CORP. INC. INC. ------------------------------------------------------------------------------------------------------------- MARKET VALUE $2,265,169 1,829,526 1,409,654 1,242,955 1,185,677 ------------------------------------------------------------------------------------------------------------- % OF 4.73% 3.82 2.94 2.59 2.47 NET ASSETS -------------------------------------------------------------------------------------------------------------
The following Performance chart is provided to compare the Fund's total return at NAV to the total return based on market price and its benchmark Index. The following chart is for comparative purposes only and represents the period noted. The Fund's past performance is no guarantee of future results. The investment return and principal value of Fund shares will vary with changes in market conditions, and may be worth more or less than their original cost when they are redeemed or sold in the market. PERFORMANCE FOR THE PERIOD ENDING JUNE 30, 2001
-------------------------------------------------------------------------------------------------------------------- CUMULATIVE TOTAL RETURN ----------------------------------------------------------------------------------- NET ASSET MARKET FORTUNE 500(R) S&P 500 INDEX VALUE VALUE INDEX (BROAD-BASED COMPARATIVE INDEX) ------------------------------------------------------------------------------------------------------------------ SINCE INCEPTION OF TRADING -7.41% -6.84% -7.22% -10.96% (1) ------------------------------------------------------------------------------------------------------------------
(1) For the period October 10, 2000 (commencement of trading on the AMEX) to June 30, 2001. 19 21 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS FORTUNE e-50(TM) INDEX FUND The FORTUNE e-50(TM) Index Fund (the "Fund") seeks to replicate the total return of the FORTUNE e-50(TM) Index (the "Index"). To accomplish this, the Fund utilizes a "passive" or indexing approach and attempts to approximate the investment performance of its benchmark index, before expenses, by investing in a portfolio of stocks to replicate the Index. Since its commencement of operations, on October 4, 2000, through June 30, 2001, the Fund and its Index were down 52.20% and 52.19% respectively. The Fund returned a disappointing -18.78% for the first half of 2001, while the Index returned -18.62% for the same period. In this Internet economy based index, most of the component members contributed negative returns. Only eighteen of the fifty stocks had positive returns over the time period. Delays in technology spending, weakening demand, and negative earnings reports continued to depress the Internet based companies. The worst performing sector was Technology, which comprises close to eighty percent of the Fund. The sector's poorest performing industries were Communications Equipment, Computer Hardware, and Computer Networking. Unfortunately, the triple-digit security returns from companies within the Computer Software industry were not enough to overturn the under-performance in the Technology sector or within their own industry. For the six month period, the largest positive performers in the Index included Networks Associates, Inc. (+197.3%), Earthlink, Inc. (+180.3%), S1 Corporation (+166.7%), and eBay, Inc. (+107.5%). The largest negative performers in the Index over the same period were Ariba, Inc. (-89.7%), Exodus Communications, Inc. (-89.7%), and Sycamore Networks, Inc. (-75.0%). COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT FORTUNE e-50(TM) INDEX FUND
DOW JONES LARGE CAP INDEX FORTUNE e-50(TM) INDEX FUND (BROAD-BASED COMPARATIVE INDEX) --------------------------- ------------------------------- 10/4/00 10000.00 10000.00 10/31/00 9322.00 9916.00 11/30/00 6735.00 8964.00 12/31/00 5885.00 8937.00 1/31/01 6909.00 9266.00 2/28/01 4974.00 8283.00 3/31/01 4128.00 7676.00 4/30/01 4916.00 8300.00 5/31/01 4801.00 8322.00 6/30/01 4780.00 8089.00
20 22 [streetTRACKS annual report] MANAGEMENT'S DISCUSSION AND ANALYSIS TOP FIVE HOLDINGS AS OF JUNE 30, 2001 -------------------------------------------------------------------------------------------------------- DESCRIPTION MICROSOFT AOL TIME ORACLE INTEL CISCO CORP. WARNER, INC. CORP. CORP. SYSTEMS, INC. -------------------------------------------------------------------------------------------------------- MARKET VALUE $1,543,001 1,488,823 1,141,729 1,095,120 1,011,792 -------------------------------------------------------------------------------------------------------- % OF 9.55% 9.21 7.07 6.78 6.26 NET ASSETS --------------------------------------------------------------------------------------------------------
The following Performance chart is provided to compare the Fund's total return at NAV to the total return based on market price and its benchmark Index. The following chart is for comparative purposes only and represents the period noted. The Fund's past performance is no guarantee of future results. The investment return and principal value of Fund shares will vary with changes in market conditions, and may be worth more or less than their original cost when they are redeemed or sold in the market. PERFORMANCE FOR THE PERIOD ENDING JUNE 30, 2001
-------------------------------------------------------------------------------------------------------------------- CUMULATIVE TOTAL RETURN ----------------------------------------------------------------------------------- NET ASSET MARKET FORTUNE e-50(TM) DOW JONES LARGE CAP INDEX VALUE VALUE INDEX (BROAD-BASED COMPARATIVE INDEX) ------------------------------------------------------------------------------------------------------------------ SINCE INCEPTION OF TRADING -48.62% -48.06% -48.60% -15.95% (1) ------------------------------------------------------------------------------------------------------------------
(1) For the period October 10, 2000 (commencement of trading on the AMEX) to June 30, 2001. 21 23 STREETTRACKS DOW JONES U.S. LARGE CAP GROWTH INDEX FUND SCHEDULE OF INVESTMENTS JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- COMMON STOCKS -- 99.9% BEVERAGES (NON-ALCOHOLIC) -- 3.0% The Coca-Cola Co. ..................... 16,369 $ 736,605 ----------- BIOTECHNOLOGY -- 2.1% Amgen, Inc. (a)........................ 7,440 451,459 MedImmune, Inc. (a).................... 1,432 67,591 ----------- 519,050 ----------- BROADCASTING (TV, RADIO & CABLE) -- 3.8% AT&T Corp. -- Liberty Media Corp. (Class A) (a)........................ 16,992 297,190 Clear Channel Communications, Inc. (a).................................. 3,800 238,260 Comcast Corp. (Class A) (a)............ 6,520 282,968 General Motors Corp. (Class H) (a)..... 5,800 117,450 ----------- 935,868 ----------- CELLULAR/WIRELESS TELECOMMUNICATIONS -- 0.9% Nextel Communications, Inc. (Class A) (a).................................. 4,740 82,950 Sprint Corp. (PCS Group) (a)........... 5,264 127,126 ----------- 210,076 ----------- COMMUNICATIONS EQUIPMENT -- 3.7% Ciena Corp. (a)........................ 2,300 87,400 Comverse Technology, Inc. (a).......... 1,252 71,489 Corning, Inc. ......................... 6,684 111,690 JDS Uniphase Corp. (a)................. 9,356 116,950 Lucent Technologies, Inc. ............. 24,489 151,832 QUALCOMM, Inc. (a)..................... 5,382 314,739 Tellabs, Inc. (a)...................... 2,696 52,248 ----------- 906,348 ----------- COMPUTERS (HARDWARE) -- 3.8% Brocade Communications Systems, Inc. (a).................................. 1,584 69,680 Dell Computer Corp. (a)................ 16,512 431,789 Juniper Networks, Inc. (a)............. 2,012 62,573 Sun Microsystems, Inc. (a)............. 23,452 368,666 ----------- 932,708 ----------- COMPUTERS (NETWORKING) -- 3.9% Cisco Systems, Inc. (a)................ 52,225 950,495 ----------- COMPUTERS (PERIPHERALS) -- 1.9% EMC Corp. (a).......................... 15,774 458,235 ----------- COMPUTER SOFTWARE/SERVICES -- 14.9% Adobe Systems, Inc. ................... 1,728 81,216 BEA Systems, Inc. (a).................. 2,812 86,357 Check Point Software Technologies Ltd. (a).................................. 1,300 65,741 Microsoft Corp. (a).................... 33,022 2,410,606 Oracle Corp. (a)....................... 30,674 582,806 Siebel Systems, Inc. (a)............... 2,876 134,884 VeriSign, Inc. (a)..................... 1,296 77,773 VERITAS Software Corp. (a)............. 2,812 187,082 ----------- 3,626,465 ----------- ELECTRICAL EQUIPMENT -- 14.9% General Electric Co. .................. 71,253 3,473,584 Sanmina Corp. (a)...................... 2,344 54,873 Solectron Corp. (a).................... 4,660 85,278 ----------- 3,613,735 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- ELECTRONICS (INSTRUMENT) -- 0.4% Agilent Technologies, Inc. (a)......... 2,992 $ 97,240 ----------- ELECTRONICS (SEMICONDUCTORS) -- 9.5% Altera Corp. (a)....................... 2,796 81,084 Analog Devices, Inc. (a)............... 2,576 111,412 Intel Corp. ........................... 48,288 1,412,424 Linear Technology Corp. ............... 2,256 99,761 Maxim Integrated Products, Inc. (a).... 2,344 103,628 Texas Instruments, Inc. ............... 12,488 393,372 Xilinx, Inc. (a)....................... 2,384 98,316 ----------- 2,299,997 ----------- ENTERTAINMENT -- 9.0% AOL Time Warner, Inc. (a).............. 30,598 1,621,694 Viacom, Inc. (Class B) (a)............. 11,010 569,767 ----------- 2,191,461 ----------- EQUIPMENT (SEMICONDUCTORS) -- 1.2% Applied Materials, Inc. (a)............ 5,848 287,137 ----------- HEALTH CARE (DRUGS/PHARMACEUTICALS) -- 7.8% Genentech, Inc. ....................... 1,600 88,160 Pfizer, Inc. .......................... 45,342 1,815,947 ----------- 1,904,107 ----------- HEALTH CARE (MEDICAL PRODUCTS/SUPPLIES) -- 2.0% Guidant Corp. (a)...................... 2,224 80,064 Medtronic, Inc. ....................... 8,680 399,367 ----------- 479,431 ----------- INVESTMENT BANKING/BROKERAGE -- 0.5% The Charles Schwab Corp. .............. 7,476 114,383 ----------- MANUFACTURING (DIVERSIFIED) -- 3.0% Tyco International Ltd. ............... 13,547 738,311 ----------- OIL & GAS (DRILLING & EQUIPMENT) -- 0.4% Transocean Sedco Forex, Inc. .......... 2,300 94,875 ----------- POWER PRODUCERS (INDEPENDENT) -- 0.9% Calpine Corp. (a)...................... 2,100 79,380 The AES Corp. (a)...................... 3,304 142,237 ----------- 221,617 ----------- PUBLISHING -- 0.3% Gemstar-TV Guide International, Inc. (a).................................. 2,008 85,541 ----------- RETAIL (BUILDING SUPPLIES) -- 3.2% The Home Depot, Inc. .................. 16,644 774,778 ----------- RETAIL (DEPARTMENT STORES) -- 0.4% Kohl's Corp. (a)....................... 1,484 93,091 ----------- RETAIL (GENERAL MERCHANDISING CHAIN) -- 4.9% Target Corp. .......................... 6,392 221,163 Wal-Mart Stores, Inc. ................. 19,821 967,265 ----------- 1,188,428 ----------- RETAIL (SPECIALTY APPAREL) -- 0.6% The Gap, Inc. ......................... 4,656 135,024 -----------
See accompanying notes to financial statements. 22 24 STREETTRACKS DOW JONES U.S. LARGE CAP GROWTH INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- RETAIL STORES (DRUG STORE) -- 1.0% Walgreen Co. .......................... 7,312 $ 249,705 ----------- SERVICES (DATA PROCESSING) -- 0.4% Paychex, Inc. ......................... 2,392 95,680 ----------- TELEPHONE -- 1.3% Qwest Communications International, Inc. ................................ 9,750 310,732 ----------- TELEPHONE (LONG DISTANCE) -- 0.2% Global Crossing Ltd. (a)............... 5,300 45,792 ----------- TOTAL COMMON STOCKS-- (Cost $34,068,693)......................... 24,296,915 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- MONEY MARKET FUND -- 0.0% AIM Short Term Investment Class Prime Fund (Cost $1,943)................... 1,943 $ 1,943 ----------- TOTAL INVESTMENTS -- 99.9% (Cost $34,070,636)................... 24,298,858 OTHER ASSETS AND LIABILITIES -- 0.1%... 30,903 ----------- NET ASSETS -- 100.0%................... $24,329,761 ===========
(a) Non-income producing security See accompanying notes to financial statements. 23 25 STREETTRACKS DOW JONES U.S. LARGE CAP VALUE INDEX FUND SCHEDULE OF INVESTMENTS JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- COMMON STOCKS -- 99.9% AEROSPACE/DEFENSE -- 1.3% General Dynamics Corp. ................ 1,600 $ 124,496 The Boeing Co. ........................ 7,000 389,200 ----------- 513,696 ----------- AIR FREIGHT -- 0.2% FedEx Corp. (a)........................ 2,306 92,701 ----------- ALUMINUM -- 0.7% Alcoa, Inc. ........................... 6,945 273,633 ----------- AUTOMOBILES -- 1.4% Ford Motor Co. ........................ 14,100 346,155 General Motors Corp. .................. 3,205 206,242 ----------- 552,397 ----------- BANKS (MAJOR REGIONAL) -- 8.0% Bank One Corp. ........................ 9,231 330,470 BB&T Corp. ............................ 3,300 121,110 Fifth Third Bancorp.................... 3,899 234,135 FleetBoston Financial Corp. ........... 8,675 342,229 Mellon Financial Corp. ................ 3,827 176,042 National City Corp. ................... 4,130 127,121 Northern Trust Corp. .................. 1,622 101,375 PNC Financial Services Group........... 2,291 150,725 SunTrust Banks, Inc. .................. 2,024 131,115 The Bank of New York Co., Inc. ........ 5,880 282,240 U.S. Bancorp........................... 15,285 348,345 Wachovia Corp. ........................ 1,702 121,097 Wells Fargo & Co. ..................... 13,723 637,159 ----------- 3,103,163 ----------- BANKS (MONEY CENTER) -- 2.7% Bank of America Corp. ................. 12,852 771,506 First Union Corp. ..................... 7,835 273,755 ----------- 1,045,261 ----------- BEVERAGES (ALCOHOLIC) -- 0.8% Anheuser-Busch Cos., Inc. ............. 7,270 299,524 ----------- BEVERAGES (NON-ALCOHOLIC) -- 1.3% PepsiCo, Inc. ......................... 11,699 517,096 ----------- CHEMICALS -- 1.7% E. I. du Pont de Nemours & Co. ........ 8,399 405,168 The Dow Chemical Co. .................. 7,202 239,466 ----------- 644,634 ----------- COMPUTERS (HARDWARE) -- 4.1% International Business Machines Corp. (IBM)................................ 13,920 1,572,960 ----------- COMPUTER SOFTWARE/SERVICES -- 0.3% Computer Associates International, Inc. ................................ 3,669 132,084 ----------- CONSUMER FINANCE -- 1.2% Household International, Inc. ......... 3,707 247,257 MBNA Corp. ............................ 6,058 199,611 ----------- 446,868 ----------- DISTRIBUTORS (FOOD & HEALTH) -- 0.4% SYSCO Corp. ........................... 5,391 146,366 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- ELECTRIC COMPANIES -- 2.0% American Electric Power Co., Inc. ..... 2,600 $ 120,042 Dominion Resources, Inc. .............. 2,000 120,260 Duke Energy Corp. ..................... 6,168 240,614 Exelon Corp. .......................... 2,529 162,159 The Southern Co. ...................... 5,551 129,061 ----------- 772,136 ----------- ELECTRICAL EQUIPMENT -- 0.5% Emerson Electric Co. .................. 3,417 206,729 ----------- ENTERTAINMENT -- 1.2% The Walt Disney Co. ................... 16,698 482,405 ----------- FINANCIAL (DIVERSIFIED) -- 12.8% American Express Co. .................. 9,436 366,117 Citigroup, Inc. ....................... 40,297 2,129,293 Fannie Mae............................. 8,110 690,566 Freddie Mac............................ 5,547 388,290 J.P. Morgan Chase & Co. ............... 15,878 708,159 Morgan Stanley Dean Witter & Co. ...... 8,934 573,831 State Street Corp. .................... 2,650 131,149 ----------- 4,987,405 ----------- FOODS -- 0.9% General Mills, Inc. ................... 2,267 99,249 H.J. Heinz Co. ........................ 2,765 113,061 Sara Lee Corp. ........................ 6,672 126,368 ----------- 338,678 ----------- HEALTH CARE (DRUGS/ PHARMACEUTICALS) -- 6.8% Eli Lilly & Co. ....................... 7,725 571,650 Merck & Co., Inc. ..................... 18,459 1,179,715 Pharmacia Corp. ....................... 10,312 473,836 Schering-Plough Corp. ................. 11,684 423,428 ----------- 2,648,629 ----------- HEALTH CARE (HOSPITAL MANAGEMENT) -- 0.8% HCA-The Healthcare Co. ................ 3,837 173,394 Tenet Healthcare Corp. ................ 2,600 134,134 ----------- 307,528 ----------- HEALTH CARE (MANAGED CARE) -- 0.3% CIGNA Corp. ........................... 1,210 115,942 ----------- HEALTH CARE (MEDICAL PRODUCTS/ SUPPLIES) -- 0.6% Baxter International, Inc. ............ 4,718 231,182 ----------- HEALTH CARE DIVERSIFIED -- 8.2% Abbott Laboratories.................... 11,640 558,836 American Home Products Corp. .......... 10,533 615,549 Bristol-Myers Squibb Co. .............. 15,638 817,867 Johnson & Johnson...................... 24,098 1,204,900 ----------- 3,197,152 ----------- HOUSEHOLD PRODUCTS (NON-DURABLE) -- 2.3% Kimberly-Clark Corp. .................. 4,240 237,016 The Procter & Gamble Co. .............. 10,407 663,967 ----------- 900,983 ----------- INSURANCE BROKERS -- 0.6% Marsh & McLennan Cos., Inc. ........... 2,233 225,533 -----------
See accompanying notes to financial statements. 24 26 STREETTRACKS DOW JONES U.S. LARGE CAP VALUE INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- INSURANCE (LIFE/HEALTH) -- 1.3% AFLAC, Inc. ........................... 4,280 $ 134,777 American General Corp. ................ 3,978 184,778 MetLife, Inc. ......................... 6,019 186,469 ----------- 506,024 ----------- INSURANCE (MULTI-LINE) -- 3.9% American International Group, Inc. .... 15,971 1,373,506 The Hartford Financial Services Group, Inc. ................................ 1,886 129,002 ----------- 1,502,508 ----------- INSURANCE (PROPERTY/CASUALTY) -- 0.9% The Allstate Corp. .................... 5,466 240,450 The Chubb Corp. ....................... 1,424 110,260 ----------- 350,710 ----------- INVESTMENT BANKING/BROKERAGE -- 1.3% Merrill Lynch & Co., Inc. ............. 6,357 376,652 The Goldman Sachs Group, Inc. ......... 1,700 145,860 ----------- 522,512 ----------- MACHINERY (DIVERSIFIED) -- 0.4% Caterpillar, Inc. ..................... 2,771 138,689 ----------- MANUFACTURING (DIVERSIFIED) -- 2.6% Honeywell International, Inc. ......... 6,465 226,210 Illinois Tool Works, Inc. ............. 2,390 151,287 Minnesota Mining & Manufacturing Co. (3M)................................. 3,162 360,784 United Technologies Corp. ............. 3,757 275,238 ----------- 1,013,519 ----------- OIL (DOMESTIC INTEGRATED) -- 0.5% Conoco, Inc. (Class A)................. 3,499 101,121 Phillips Petroleum Co. ................ 1,773 101,061 ----------- 202,182 ----------- OIL (INTERNATIONAL INTEGRATED) -- 8.2% Chevron Corp. ......................... 5,084 460,102 Exxon Mobil Corp. ..................... 27,854 2,433,047 Texaco, Inc. .......................... 4,443 295,904 ----------- 3,189,053 ----------- PAPER & FOREST PRODUCTS -- 0.6% International Paper Co. ............... 3,889 138,837 Weyerhaeuser Co. ...................... 1,764 96,967 ----------- 235,804 ----------- PERSONAL CARE -- 0.6% The Gillette Co. ...................... 7,690 222,933 ----------- PHOTOGRAPHY/IMAGING -- 0.3% Eastman Kodak Co. ..................... 2,343 109,371 ----------- PUBLISHING -- 0.3% The McGraw-Hill Cos., Inc. ............ 1,506 99,622 ----------- PUBLISHING (NEWSPAPERS) -- 0.4% Gannett Co., Inc. ..................... 2,078 136,940 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- RAILROADS -- 0.3% Union Pacific Corp. ................... 1,839 $ 100,980 ----------- RESTAURANTS -- 0.7% McDonald's Corp. ...................... 10,418 281,911 ----------- RETAIL (BUILDING SUPPLIES) -- 0.5% Lowe's Cos., Inc. ..................... 2,813 204,083 ----------- RETAIL (GENERAL MERCHANDISING CHAIN) -- 0.3% Sears, Roebuck & Co. .................. 2,662 112,629 ----------- RETAIL STORES (DRUG STORE) -- 0.3% CVS Corp. ............................. 3,121 120,471 ----------- RETAIL STORES (FOOD CHAINS) -- 0.7% Albertson's, Inc. ..................... 3,057 91,679 Safeway, Inc. (a)...................... 3,993 191,664 ----------- 283,343 ----------- SAVINGS & LOAN COMPANIES -- 0.7% Washington Mutual, Inc. ............... 7,048 264,652 ----------- SERVICES (ADVERTISING/MARKETING) -- 0.2% The Interpublic Group of Cos., Inc. ... 2,974 87,287 ----------- SERVICES (DATA PROCESSING) -- 0.5% First Data Corp. ...................... 3,201 205,664 ----------- TELEPHONE -- 7.7% ALLTEL Corp. .......................... 2,374 145,431 BellSouth Corp. ....................... 14,980 603,245 SBC Communications, Inc. .............. 27,101 1,085,666 Verizon Communications................. 21,597 1,155,439 ----------- 2,989,781 ----------- TELEPHONE (LONG DISTANCE) -- 2.9% AT&T Corp. ............................ 30,081 661,782 Sprint Corp. .......................... 5,651 120,705 WorldCom, Inc. (a)..................... 23,467 333,232 ----------- 1,115,719 ----------- TOBACCO -- 2.3% Philip Morris Cos., Inc. .............. 17,679 897,209 ----------- WASTE MANAGEMENT -- 0.4% Waste Management, Inc. ................ 5,000 154,100 ----------- TOTAL COMMON STOCKS -- (Cost $39,205,898)......................... 38,802,381 ----------- MONEY MARKET FUND -- 0.0% AIM Short Term Investment Class Prime Fund (Cost $16)...................... 16 16 ----------- TOTAL INVESTMENTS -- 99.9% (Cost $39,205,914)......................... 38,802,397 OTHER ASSETS AND LIABILITIES -- 0.1%... 40,039 ----------- NET ASSETS -- 100.0%................... $38,842,436 ===========
(a) Non-income producing security See accompanying notes to financial statements. 25 27 STREETTRACKS DOW JONES U.S. SMALL CAP GROWTH INDEX FUND SCHEDULE OF INVESTMENTS JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- COMMON STOCKS -- 99.6% AEROSPACE/DEFENSE -- 0.7% Newport News Shipbuilding, Inc......... 2,106 $ 128,992 Orbital Sciences Corp. (a)............. 2,360 9,157 ----------- 138,149 ----------- AIR FREIGHT -- 1.3% Cheap Tickets, Inc. (a)................ 1,454 21,955 EGL, Inc. (a).......................... 2,178 38,028 Expeditors International of Washington, Inc.................................. 3,134 188,037 ----------- 248,020 ----------- AIRLINES -- 0.4% SkyWest, Inc........................... 2,963 82,964 ----------- AUTO PARTS & EQUIPMENT -- 0.6% Gentex Corp. (a)....................... 4,452 124,077 ----------- BANKS (REGIONAL) -- 1.3% Investors Financial Services Corp...... 1,912 128,104 Silicon Valley Bancshares (a).......... 2,962 65,164 Southwest Bancorporation of Texas, Inc. (a).................................. 1,868 56,432 ----------- 249,700 ----------- BEVERAGES (ALCOHOLIC) -- 0.4% Constellation Brands, Inc. (a)......... 2,149 88,109 ----------- BIOTECHNOLOGY -- 8.3% Alexion Pharmaceuticals, Inc. (a)...... 954 22,896 Alliance Pharmaceutical Corp. (a)...... 3,078 6,925 Aviron (a)............................. 1,838 104,766 Biosite Diagnostics, Inc. (a).......... 814 36,467 Cell Genesys, Inc. (a)................. 2,045 41,922 Cephalon, Inc. (a)..................... 2,983 210,301 COR Therapeutics, Inc. (a)............. 3,332 101,626 CV Therapeutics, Inc. (a).............. 980 55,860 Enzo Biochem, Inc. (a)................. 1,365 46,819 Enzon, Inc. (a)........................ 2,513 157,062 Gene Logic, Inc. (a)................... 1,592 34,706 Genome Therapeutics Corp. (a).......... 1,351 20,049 Genzyme Transgenics Corp. (a).......... 1,170 11,630 Hyseq, Inc. (a)........................ 821 9,441 Immunomedics, Inc. (a)................. 2,309 49,413 Incyte Genomics, Inc. (a).............. 3,952 96,903 Lexicon Genetics, Inc. (a)............. 1,519 18,987 Maxim Pharmaceuticals, Inc. (a)........ 1,441 9,093 Myriad Genetics, Inc. (a).............. 1,324 83,836 Nabi (a)............................... 2,239 17,778 Northfield Laboratories, Inc. (a)...... 725 11,883 NPS Pharmaceuticals, Inc. (a).......... 1,789 71,918 Organogenesis, Inc. (a)................ 2,046 15,140 OSI Pharmaceuticals, Inc. (a).......... 2,083 109,545 Pharmacyclics, Inc. (a)................ 964 32,680 Regeneron Pharmaceuticals, Inc. (a).... 1,760 60,984 SangStat Medical Corp. (a)............. 1,178 19,296 SuperGen, Inc. (a)..................... 1,740 25,630 Transkaryotic Therapies, Inc. (a)...... 1,109 32,660 Trimeris, Inc. (a)..................... 1,040 52,073 XOMA, Ltd. (a)......................... 3,962 67,592 ----------- 1,635,881 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- BROADCASTING (TV, RADIO & CABLE) -- 1.1% Comcast Corp. (Class A) (a)............ 1,315 $ 56,479 Cox Radio, Inc. (Class A) (a).......... 2,443 68,038 Pegasus Communications Corp. (a)....... 2,186 49,185 RCN Corp. (a).......................... 3,643 20,000 Sirius Satellite Radio, Inc. (a)....... 2,599 31,682 ----------- 225,384 ----------- CELLULAR/WIRELESS TELECOMMUNICATIONS -- 1.6% AirGate PCS, Inc. (a).................. 790 41,080 Leap Wireless International, Inc. (a).................................. 2,034 61,630 Rural Celluar Corp. (Class A) (a)...... 631 28,584 TeleCorp PCS, Inc. (Class A) (a)....... 7,321 141,808 United States Cellular Corp. (a)....... 914 52,692 ----------- 325,794 ----------- CHEMICALS SPECIALTY -- 0.1% MacDermid, Inc......................... 1,393 25,074 ----------- COMMUNICATIONS EQUIPMENT -- 3.2% AudioCodes, Ltd. (a)................... 2,378 16,812 Audiovox Corp. (Class A) (a)........... 921 10,223 Avanex Corp. (a)....................... 1,779 17,256 Cable Design Technologies Corp. (a).... 2,624 42,404 Digital Lightwave, Inc. (a)............ 754 27,868 Ditech Communications Corp. (a)........ 1,825 13,541 Harmonic, Inc. (a)..................... 3,468 34,680 Inter-Tel, Inc......................... 1,240 14,768 International FiberCom, Inc. (a)....... 2,132 5,330 Loral Space & Communications Ltd. (a).................................. 19,922 55,782 Netro Corp. (a)........................ 2,114 8,963 Next Level Communications, Inc. (Class A) (a)............................... 1,282 8,654 NMS Communications Corp. (a)........... 2,211 15,477 Proxim, Inc. (a)....................... 1,636 23,068 REMEC, Inc. (a)........................ 2,673 33,145 Sawtek, Inc. (a)....................... 2,019 47,507 SonicWall, Inc. (a).................... 3,098 78,101 Terayon Communication Systems, Inc (a).................................. 3,707 22,687 TyCom, Ltd. (a)........................ 4,112 70,726 UTStarcom, Inc. (a).................... 3,049 71,042 Wireless Facilities, Inc. (a).......... 895 5,818 ----------- 623,852 ----------- COMPUTERS (HARDWARE) -- 1.2% Auspex Systems, Inc. (a)............... 2,049 14,630 Avici Systems, Inc. (a)................ 1,804 15,460 Computer Network Technology Corp. (a).................................. 1,809 19,194 Concurrent Computer Corp. (a).......... 3,282 22,974 Copper Mountain Networks, Inc. (a)..... 3,144 12,890 Echelon Corp. (a)...................... 2,018 62,074 Handspring, Inc. (a)................... 3,922 30,199 National Instruments Corp. (a)......... 1,795 58,248 ----------- 235,669 ----------- COMPUTERS (NETWORKING) -- 0.1% McDATA Corp. (Class B) (a)............. 1,140 24,898 ----------- COMPUTERS (PERIPHERALS) -- 1.5% Advanced Digital Information Corp. (a).................................. 3,738 64,667 CacheFlow, Inc. (a).................... 1,789 8,820 Iomega Corp. (a)....................... 14,796 35,362
See accompanying notes to financial statements. 26 28 STREETTRACKS DOW JONES U.S. SMALL CAP GROWTH INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- M-Systems Flash Disk Pioneers, Ltd. (a).................................. 1,595 $ 11,325 Maxtor Corp. (a)....................... 11,797 61,934 MICROS Systems, Inc. (a)............... 1,040 22,880 Read-Rite Corp. (a).................... 6,291 33,531 Wave Systems Corp. (Class A) (a)....... 2,996 16,089 Western Digital Corp. (a).............. 10,638 42,552 ----------- 297,160 ----------- COMPUTER SOFTWARE/SERVICES -- 16.3% ACTV, Inc. (a)......................... 2,582 8,598 Acuate Corp. (a)....................... 3,216 30,713 Aether Systems, Inc. (a)............... 1,524 13,487 Agile Software Corp. (a)............... 2,393 40,681 Akamai Technologies, Inc. (a).......... 4,641 42,581 Answerthink, Inc. (a).................. 2,458 24,556 Art Technology Group, Inc. (a)......... 3,293 19,099 Aspen Technology, Inc. (a)............. 1,834 44,383 At Home Corp. (Series A) (a)........... 15,650 33,491 Avant! Corp. (a)....................... 2,248 29,898 Aware, Inc. (a)........................ 1,125 10,125 Cambridge Technology Partners, Inc. (a).................................. 2,943 10,418 Clarent Corp. (a)...................... 2,029 18,647 Clarus Corp. (a)....................... 966 5,941 CMGI, Inc. (a)......................... 16,085 48,255 CNET Networks, Inc. (a)................ 6,402 83,226 Covansys Corp. (a)..................... 1,714 19,368 Dendrite International, Inc. (a)....... 2,174 24,131 Digex, Inc. (a)........................ 1,317 17,121 Documentum, Inc. (a)................... 2,206 28,502 E.piphany, Inc. (a).................... 4,237 43,048 Earthlink, Inc. (a).................... 7,071 99,701 Entrust Technologies, Inc. (a)......... 2,677 18,980 F5 Networks, Inc. (a).................. 980 17,219 Foundry Networks, Inc. (a)............. 4,432 88,551 GoTo.com, Inc. (a)..................... 2,189 42,576 HNC Software, Inc...................... 2,082 52,050 Hyperion Solutions Corp. (a)........... 1,924 28,860 IMRglobal Corp. (a).................... 2,109 23,051 Infonet Services Corp. (a)............. 4,538 38,573 InfoSpace, Inc. (a).................... 14,362 55,150 Inktomi Corp. (a)...................... 7,656 73,421 Internap Network Services Corp. (a).... 7,829 25,601 Intertrust Technologies Corp. (a)...... 4,330 5,196 IntraNet Solutions, Inc. (a)........... 1,145 43,567 Kana Communications, Inc. (a).......... 9,099 18,562 Keynote Systems, Inc. (a).............. 1,419 15,538 Legato Systems, Inc. (a)............... 5,332 85,046 Liberate Technologies, Inc. (a)........ 3,697 40,482 Macrovision Corp. (a).................. 2,563 175,566 Manugistics Group, Inc. (a)............ 3,403 85,415 MatrixOne, Inc. (a).................... 2,468 57,233 MicroStrategy, Inc. (Class A) (a)...... 1,942 5,438 MRO Software, Inc. (a)................. 960 15,168 Multex.com, Inc. (a)................... 1,793 29,136 NaviSite, Inc. (a)..................... 3,602 5,223 Netegrity, Inc. (a).................... 1,850 55,500 NetIQ Corp. (a)........................ 3,149 98,532 Networks Assocs, Inc. (a).............. 8,260 102,837 Nuance Communications, Inc. (a)........ 1,698 30,598
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- OpenTV Corp. (a)....................... 2,144 $ 30,123 Packeteer, Inc. (a).................... 1,185 14,848 Perot Systems Corp. (Class A) (a)...... 3,853 69,739 Pharmacopeia, Inc. (a)................. 1,274 30,576 Portal Software, Inc (a)............... 7,506 31,000 Priceline.com, Inc. (a)................ 5,601 50,689 Puma Technologies, Inc. (a)............ 2,736 8,208 PurchasePro.com, Inc. (a).............. 3,463 5,125 RadiSys Corp. (a)...................... 924 21,113 RealNetworks, Inc. (a)................. 6,345 74,554 Red Hat, Inc. (a)...................... 4,834 19,336 Remedy Corp. (a)....................... 1,688 58,742 Retek, Inc. (a)........................ 2,923 140,129 S1 Corp. (a)........................... 3,214 44,996 Sanchez Computer Associates, Inc. (a).................................. 835 11,064 SCM Microsystems, Inc. (a)............. 900 9,360 SeeBeyond Technology Corp. (a)......... 3,823 60,786 SERENA Software, Inc. (a).............. 1,324 48,114 SilverStream Software, Inc. (a)........ 995 7,015 SpeechWorks International, Inc. (a).... 1,199 18,824 StarBase Corp. (a)..................... 4,225 15,421 StarMedia Network, Inc. (a)............ 3,622 6,737 StorageNetworks, Inc. (a).............. 3,338 56,713 Take-Two Interactive Software, Inc. (a).................................. 1,996 37,026 THQ, Inc. (a).......................... 1,278 76,207 TIBCO Software, Inc. (a)............... 3,913 49,969 Transaction Systems Architects, Inc. (Class A) (a)........................ 2,062 31,961 USinternetworking, Inc. (a)............ 7,005 8,406 VA Linux Systems, Inc. (a)............. 2,444 8,554 Verity, Inc. (a)....................... 2,078 41,456 VerticalNet, Inc. (a).................. 4,430 11,031 Viant Corp. (a)........................ 2,909 5,440 Vitria Technology, Inc................. 5,446 18,734 WatchGuard Technologies, Inc. (a)...... 1,375 14,094 webMethods, Inc. (a)................... 2,123 44,965 ZixIt Corp. (a)........................ 942 8,619 ----------- 3,218,713 ----------- CONSUMER FINANCE -- 0.8% Metris Cos., Inc....................... 3,782 127,491 NextCard, Inc. (a)..................... 2,374 26,233 ----------- 153,724 ----------- CONSUMER (JEWELRY/NOVELTIES) -- 0.4% Blyth, Inc............................. 2,073 53,297 Fossil, Inc. (a)....................... 995 20,646 ----------- 73,943 ----------- DISTRIBUTORS (FOOD & HEALTH) -- 1.6% Allscripts Heathcare Solutions, Inc. (a).................................. 1,483 13,347 Patterson Dental Co. (a)............... 3,753 123,849 Performance Food Group Co. (a)......... 2,034 61,488 Priority Healthcare Corp. (Class B) (a).................................. 1,944 54,976 Scios, Inc. (a)........................ 2,387 59,699 ----------- 313,359 ----------- ELECTRICAL EQUIPMENT -- 1.5% Benchmark Electronics, Inc. (a)........ 1,064 25,919 C&D Technologies, Inc.................. 1,579 48,949 C-COR.net Corp. (a).................... 1,971 23,652
See accompanying notes to financial statements. 27 29 STREETTRACKS DOW JONES U.S. SMALL CAP GROWTH INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- Plexus Corp. (a)....................... 2,468 $ 81,444 Plug Power, Inc. (a)................... 664 14,296 Technitrol, Inc........................ 1,855 48,230 Three-Five Systems, Inc. (a)........... 1,290 23,194 Viasystems Group, Inc. (a)............. 4,243 12,771 Vicor Corp. (a)........................ 1,229 20,033 ----------- 298,488 ----------- ELECTRONICS (DEFENSE) -- 0.2% Aeroflex, Inc. (a)..................... 3,578 37,569 ----------- ELECTRONICS (INSTRUMENT) -- 2.1% Alpha Industries, Inc. (a)............. 2,608 77,067 Aurora Biosciences Corp. (a)........... 1,358 42,098 Caliper Technologies Corp. (a)......... 1,435 30,207 Cytyc Corp. (a)........................ 6,900 159,045 Molecular Devices Corp. (a)............ 1,006 20,170 Orbotech Ltd. (a)...................... 1,909 65,975 Trimble Navigation, Ltd. (a)........... 1,470 28,650 ----------- 423,212 ----------- ELECTRONICS (SEMICONDUCTORS) -- 3.3% ANADIGICS, Inc. (a).................... 1,794 41,262 Centillium Communications, Inc. (a).... 1,503 37,184 Cirrus Logic, Inc. (a)................. 4,341 99,973 DSP Group, Inc. (a).................... 1,448 31,060 hi/fn, Inc. (a)........................ 623 9,426 Kopin Corp. (a)........................ 3,898 47,322 New Focus, Inc. (a).................... 3,723 30,715 Oak Technology, Inc. (a)............... 2,988 31,643 Oplink Communications, Inc. (a)........ 7,495 28,106 PLX Technology, Inc. (a)............... 1,002 8,507 Semtech Corp. (a)...................... 4,152 124,560 Silicon Image, Inc. (a)................ 2,834 14,170 Silicon Laboratories, Inc. (a)......... 875 19,338 Silicon Storage Technology, Inc. (a)... 4,792 48,543 SONICblue, Inc. (a).................... 4,568 15,074 Virata Corp. (a)....................... 3,588 42,518 Zoran Corp. (a)........................ 1,049 31,176 ----------- 660,577 ----------- ENGINEERING & CONSTRUCTION -- 0.8% Dycom Industries, Inc. (a)............. 2,572 58,976 EMOR Group, Inc. (a)................... 553 19,991 MasTec, Inc. (a)....................... 1,648 21,754 SBA Communications Corp. (a)........... 2,494 61,726 ----------- 162,447 ----------- ENTERTAINMENT -- 0.3% Metro-Goldwyn-Mayer, Inc............... 2,393 54,201 ----------- EQUIPMENT (SEMICONDUCTORS) -- 1.7% Asyst Technologies, Inc. (a)........... 2,103 28,390 Brooks Automation, Inc. (a)............ 974 44,901 Cymer, Inc. (a)........................ 1,833 46,357 DuPont Photomasks, Inc. (a)............ 719 34,692 EMCORE Corp. (a)....................... 1,565 48,124 LTX Corp. (a).......................... 2,864 73,204 SpeedFam-IPEC, Inc. (a)................ 1,432 4,568 Veeco Instruments, Inc. (a)............ 1,390 55,252 ----------- 335,488 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- FINANCIAL (DIVERSIFIED) -- 1.7% CompuCredit Corp. (a).................. 952 $ 10,520 Markel Corp. (a)....................... 481 94,517 Pinnacle Holdings, Inc. (a)............ 2,539 15,259 SEI Investments Co..................... 4,771 226,145 ----------- 346,441 ----------- FOODS -- 1.4% American Italian Pasta Co. (Class A) (a).................................. 1,045 48,488 Dreyer's Grand Ice Cream, Inc.......... 1,094 30,523 Hain Celestial Group, Inc. (a)......... 1,645 36,190 Suiza Foods Corp. (a).................. 1,650 87,615 The Earthgrains Co..................... 2,549 66,274 ----------- 269,090 ----------- FOOTWEAR -- 0.3% Kenneth Cole Productions, Inc. (Class A) (a)............................... 604 12,171 The Timberland Co. (Class A) (a)....... 1,312 51,837 ----------- 64,008 ----------- GAMING, LOTTERY, & PARIMUTUEL -- 0.5% Aztar Corp. (a)........................ 2,259 27,334 Ticketmaster Online-CitySearch, Inc. (Class B) (a)........................ 4,662 68,997 ----------- 96,331 ----------- GOLD/PRECIOUS METALS MINING -- 0.5% Meridian Gold, Inc. (a)................ 4,473 35,561 Stillwater Mining Co. (a).............. 2,313 67,655 ----------- 103,216 ----------- HARDWARE & TOOLS -- 0.4% The Scotts Co. (Class A) (a)........... 1,718 71,211 ----------- HEALTH CARE (DRUGS) -- 0.7% Medicis Pharmaceutical Corp. (Class A) (a).................................. 1,800 95,400 Noven Pharmaceuticals, Inc. (a)........ 1,329 52,097 ----------- 147,497 ----------- HEALTH CARE (DRUGS/PHARMACEUTICALS) -- 3.9% Cell Pathways, Inc. (a)................ 1,790 11,331 Cell Therapeutics, Inc. (a)............ 1,708 47,209 Columbia Laboratories, Inc. (a)........ 1,589 12,855 Cubist Pharmaceuticals, Inc. (a)....... 1,679 63,802 Emisphere Technologies, Inc. (a)....... 969 30,524 EntreMed, Inc. (a)..................... 1,088 17,408 Guilford Pharmaceuticals, Inc. (a)..... 1,533 52,122 ICOS Corp. (a)......................... 2,873 183,872 Inhale Therapeutic Systems, Inc. (a)... 3,092 71,116 Kos Pharmaceuticals, Inc. (a).......... 1,128 41,962 Ligand Pharmaceuticals, Inc. (Class B) (a).................................. 3,133 35,403 SICOR, Inc. (a)........................ 3,823 88,311 Tularik, Inc. (a)...................... 2,193 56,645 United Therapeutics Corp. (a).......... 1,010 13,483 ViroPharma, Inc. (a)................... 1,119 38,046 ----------- 764,089 ----------- HEALTH CARE (HOSPITAL MANAGEMENT) -- 0.3% Province Healthcare Co. (a)............ 1,759 62,075 -----------
See accompanying notes to financial statements. 28 30 STREETTRACKS DOW JONES U.S. SMALL CAP GROWTH INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- HEALTH CARE (MANAGED CARE) -- 1.6% Oxford Health Plans, Inc. (a).......... 5,941 $ 169,913 Trigon Healthcare, Inc. (a)............ 2,192 142,151 ----------- 312,064 ----------- HEALTH CARE (MEDICAL PRODUCTS/SUPPLIES) -- 2.6% ArthroCare Corp. (a)................... 1,325 34,649 Cyberonics, Inc. (a)................... 1,083 18,303 Cygnus, Inc. (a)....................... 1,696 17,384 DENTSPLY International, Inc............ 2,739 121,475 I-STAT Corp. (a)....................... 990 14,592 Imatron, Inc. (a)...................... 5,487 10,974 Novoste Corp. (a)...................... 969 24,709 PolyMedica Corp. (a)................... 803 32,521 ResMed, Inc. (a)....................... 1,634 82,599 Sunrise Technologies International, Inc. (a)............................. 3,173 3,903 Syncor International Corp. (a)......... 1,468 45,508 Theragenics Corp. (a).................. 1,773 19,804 Visible Genetics, Inc. (a)............. 921 22,887 VISX, Inc. (a)......................... 3,394 65,674 ----------- 514,982 ----------- HEALTH CARE (SPECIAL SERVICES) -- 4.0% AdvancePCS (a)......................... 1,410 90,310 American Superconductor Corp. (a)...... 1,144 29,515 CuraGen Corp. (a)...................... 2,299 83,684 FuelCell Energy, Inc. (a).............. 1,730 39,946 Impath, Inc. (a)....................... 959 42,484 Lincare Holdings, Inc. (a)............. 6,456 193,744 Maxygen, Inc. (a)...................... 1,644 31,894 Orthodontics Centers of America, Inc. (a).................................. 2,483 75,458 PAREXEL International Corp. (a)........ 1,486 28,977 Pharmaceutical Product Development, Inc. (a)............................. 2,734 83,414 Renal Care Group, Inc. (a)............. 2,848 93,671 ----------- 793,097 ----------- HOMEBUILDING -- 0.8% Catellus Development Corp. (a)......... 4,957 86,500 KB HOME................................ 2,113 63,749 ----------- 150,249 ----------- HOUSEHOLD FURNISHINGS & APPLIANCES -- 0.4% Ethan Allen Interiors, Inc............. 2,248 73,060 ----------- INVESTMENT BANKING/BROKERAGE -- 0.5% Ameritrade Holding Corp. (Class A) (a).................................. 6,738 53,635 Interactive Data Corp. (a)............. 2,088 18,792 TD Waterhouse Group, Inc. (a).......... 2,599 28,407 ----------- 100,834 ----------- INVESTMENT MANAGEMENT -- 1.0% Affiliated Managers Group, Inc. (a).... 1,245 76,567 Eaton Vance Corp....................... 3,505 121,974 ----------- 198,541 ----------- LEISURE TIME (PRODUCTS) -- 1.5% Bally Total Fitness Holding Corp. (a).................................. 1,734 51,344 International Speedway Corp. (Class A)................................... 1,164 48,888 JAKKS Pacific, Inc. (a)................ 1,084 20,271
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- Monaco Coach Corp. (a)................. 1,138 $ 37,781 Six Flags, Inc. (a).................... 5,516 116,057 Winnebago Industries, Inc.............. 754 23,185 ----------- 297,526 ----------- LODGING (HOTELS) -- 0.4% Extended Stay America, Inc. (a)........ 5,722 85,830 ----------- MACHINERY (DIVERSIFIED) -- 0.5% MSC Industrial Direct Co., Inc. (Class A) (a)............................... 2,149 37,393 Presstek, Inc. (a)..................... 1,760 21,120 The Manitowoc Co., Inc................. 1,455 42,922 ----------- 101,435 ----------- MANUFACTURING (SPECIALIZED) -- 0.9% Astec Industries, Inc. (a)............. 914 15,767 CTS Corp............................... 1,668 34,194 Dionex Corp. (a)....................... 1,329 44,189 Roper Industries, Inc.................. 1,840 76,820 Valence Technology, Inc. (a)........... 1,549 9,960 ----------- 180,930 ----------- NATURAL GAS (DISTRIBUTION/PIPE LINE) -- 0.2% Western Gas Resources, Inc............. 1,254 40,880 ----------- OFFICE EQUIPMENT & SUPPLIES -- 0.3% United Stationers, Inc. (a)............ 1,999 63,088 ----------- OIL & GAS (DRILLING & EQUIPMENT) -- 3.1% Atwood Oceanics, Inc. (a).............. 730 25,623 Helmerich & Payne, Inc................. 3,213 99,025 Key Energy Services, Inc. (a).......... 6,056 65,647 Marine Drilling Cos., Inc. (a)......... 3,523 67,324 Parker Drilling Co. (a)................ 5,531 35,951 Pride International, Inc. (a).......... 4,417 83,923 SEACOR SMIT, Inc. (a).................. 1,139 53,237 Superior Energy Services, Inc. (a)..... 2,964 23,416 Varco International, Inc. (a).......... 5,449 101,406 Veritas DGC, Inc. (a).................. 1,909 52,975 ----------- 608,527 ----------- OIL & GAS (EXPLORATION/PRODUCTS) -- 1.9% Chesapeake Energy Corp. (a)............ 8,755 59,534 Evergreen Resources, Inc. (a).......... 855 32,490 Forest Oil Corp........................ 1,885 52,780 Louis Dreyfus Natural Gas Corp. (a).... 1,389 48,407 Stone Energy Corp. (a)................. 1,468 65,032 The Meridian Resource Corp. (a)........ 2,494 17,882 Tom Brown, Inc. (a).................... 1,784 42,816 Vintage Petroleum, Inc................. 3,187 59,597 ----------- 378,538 ----------- PAPER & FOREST PRODUCTS -- 0.1% Pope & Talbot, Inc..................... 775 10,005 ----------- PHOTOGRAPHY/IMAGING -- 0.0% Concord Camera Corp. (a)............... 1,634 9,641 ----------- PUBLISHING -- 0.3% Meredith Corp.......................... 1,785 63,921 ----------- RESTAURANTS -- 1.5% CEC Entertainment, Inc. (a)............ 1,678 82,809 Jack in the Box, Inc. (a).............. 2,319 60,526
See accompanying notes to financial statements. 29 31 STREETTRACKS DOW JONES U.S. SMALL CAP GROWTH INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- Papa John's International, Inc. (a).... 969 $ 24,564 Sonic Corp. (a)........................ 1,584 50,261 The Cheesecake Factory, Inc. (a)....... 2,670 75,561 ----------- 293,721 ----------- RETAIL (DISCOUNTERS) -- 0.6% Ross Stores, Inc....................... 4,836 115,822 ----------- RETAIL (HOME SHOPPING) -- 0.6% Insight Enterprises, Inc. (a).......... 2,359 57,795 Stamps.com, Inc. (a)................... 2,746 10,298 ValueVision International, Inc. (Class A) (a)............................... 2,316 50,373 ----------- 118,466 ----------- RETAIL (SPECIALTY) -- 2.4% Barnes & Noble, Inc. (a)............... 3,017 118,719 Claire's Stores, Inc................... 2,219 42,960 Genesco, Inc. (a)...................... 1,314 44,150 Guitar Center, Inc. (a)................ 1,324 27,976 Linen 'n Things, Inc. (a).............. 2,433 66,470 O'Reilly Automotive, Inc. (a).......... 2,499 71,721 Williams-Sonoma, Inc. (a).............. 2,708 105,125 ----------- 477,121 ----------- RETAIL (SPECIALTY APPAREL) -- 1.1% American Eagle Outfitters, Inc. (a).... 2,478 87,325 AnnTaylor Stores Corp. (a)............. 1,728 61,862 Pacific Sunwear of California, Inc. (a).................................. 1,949 43,716 The Children's Place Retail Stores, Inc. (a)............................. 739 19,805 ----------- 212,708 ----------- RETAIL STORES (DRUG STORE) -- 1.3% Duane Reade, Inc. (a).................. 1,114 36,205 Rite Aid Corp.......................... 23,643 212,787 ----------- 248,992 ----------- RETAIL STORES (FOOD CHAINS) -- 0.6% Krispy Kreme Doughnuts, Inc. (a)....... 2,624 104,960 Wild Oats Markets, Inc. (a)............ 1,319 13,731 ----------- 118,691 ----------- SAVINGS & LOAN COMPANIES -- 0.1% Net.B@nk, Inc. (a)..................... 1,654 18,690 ----------- SERVICES (ADVERTISING/MARKETING) -- 1.0% ADVO, Inc. (a)......................... 1,218 41,595 Catalina Marketing Corp. (a)........... 3,149 96,076 Harte-Hanks, Inc....................... 2,319 57,418 ----------- 195,089 ----------- SERVICES (COMMERCIAL & CONSUMER) -- 3.0% Copart, Inc. (a)....................... 2,393 69,995 DeVry, Inc. (a)........................ 3,642 131,549 DiamondCluster International, Inc. (a).................................. 1,343 17,096 Digital Island, Inc. (a)............... 5,018 17,162 eLoyalty Corp. (a)..................... 2,836 2,836 FreeMarkets, Inc. (a).................. 2,172 43,440 Getty Images, Inc. (a)................. 2,419 63,523 IGEN International, Inc. (a)........... 665 17,290 Learning Tree International, Inc. (a).................................. 745 17,105 NCO Group, Inc. (a).................... 1,419 43,890
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- Pre-Paid Legal Services, Inc. (a)...... 1,280 $ 28,160 Sunrise Assisted Living, Inc. (a)...... 1,130 29,662 Sylvan Learning Systems, Inc. (a)...... 2,093 50,860 TeleTech Holdings, Inc. (a)............ 2,019 18,151 The Profit Recovery Group International, Inc. (a).............. 2,593 29,716 Universal Access, Inc. (a)............. 3,543 21,967 ----------- 602,402 ----------- SERVICES (COMPUTER SYSTEMS) -- 1.0% Digital River, Inc. (a)................ 1,423 6,404 Globix Corp. (a)....................... 2,184 4,390 GoAmerica, Inc. (a).................... 3,250 6,890 Keane, Inc. (a)........................ 2,919 64,218 MedQuist, Inc. (a)..................... 2,204 65,415 Sapient Corp. (a)...................... 4,886 47,638 ----------- 194,955 ----------- SERVICES (DATA PROCESSING) -- 2.3% CSG Systems International, Inc. (a).... 2,994 173,652 Global Payments, Inc................... 2,173 65,407 National Data Corp..................... 2,013 65,221 NOVA Corp. (a)......................... 3,922 123,347 ProBusiness Services, Inc. (a)......... 1,070 28,409 ----------- 456,036 ----------- SERVICES (ENVIRONMENTAL) -- 0.3% Tetra Tech, Inc. (a)................... 2,463 66,994 ----------- SHIPPING -- 0.0% American Classic Voyages Co. (a)....... 1,231 3,668 ----------- STEEL -- 0.3% Bethlehem Steel Corp. (a).............. 7,877 15,911 Maverick Tube Corp. (a)................ 2,024 34,307 ----------- 50,218 ----------- TELEPHONE -- 0.1% IDT Corp. (Class B) (a)................ 2,438 26,818 ----------- TELEPHONE (LONG DISTANCE) -- 1.4% Adelphia Business Solutions, Inc. (Class A) (a)........................ 1,817 7,450 Covad Communications Group, Inc. (a)... 11,142 11,253 Focal Communications Corp. (a)......... 1,555 3,670 IDT Corp. (Class B) (a)................ 1,438 19,413 ITC/ \DeltaCom, Inc. (a)............... 2,672 10,688 Mpower Communications Corp............. 3,100 2,945 Network Plus Corp. (a)................. 2,504 6,786 Talk America Holdings, Inc. (a)........ 4,375 4,112 Time Warner Telecom, Inc. (Class A) (a).................................. 2,519 84,437 Williams Communications Group, Inc. (a).................................. 29,342 86,559 XO Communications, Inc. (a)............ 16,015 30,749 ----------- 268,062 ----------- TEXTILES (APPAREL) -- 0.2% Quiksilver, Inc. (a)................... 1,363 34,075 ----------- TEXTILES (HOME FURNISHINGS) -- 0.5% Mohawk Industries, Inc. (a)............ 2,539 89,373 ----------- TEXTILES (SPECIALTY) -- 0.0% Uniroyal Technology Corp. (a).......... 1,004 8,534 -----------
See accompanying notes to financial statements. 30 32 STREETTRACKS DOW JONES U.S. SMALL CAP GROWTH INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- TRUCKING -- 0.5% Landstar Systems, Inc. (a)............. 510 $ 34,690 Swift Transportation Co., Inc. (a)..... 3,449 66,428 ----------- 101,118 ----------- WASTE MANAGEMENT -- 0.2% Stericycle, Inc. (a)................... 865 40,612 ----------- TOTAL COMMON STOCKS -- (Cost $19,636,860)................... 19,705,723 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- MONEY MARKET FUND -- 0.0% AIM Short Term Investment Class Prime Fund (Cost $52)...................... 52 $ 52 ----------- TOTAL INVESTMENTS -- 99.6% (Cost $19,636,912)................... 19,705,775 OTHER ASSETS AND LIABILITIES -- 0.4%... 88,637 ----------- NET ASSETS -- 100.0%................... $19,794,412 ===========
(a) Non-income producing security See accompanying notes to financial statements. 31 33 STREETTRACKS DOW JONES U.S. SMALL CAP VALUE INDEX FUND SCHEDULE OF INVESTMENTS JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- COMMON STOCKS -- 99.7% AEROSPACE/DEFENSE -- 1.1% AAR Corp. ............................ 2,022 $ 34,576 Alliant Techsystems, Inc. (a)......... 1,177 105,812 Precision Castparts Corp. ............ 4,014 150,204 ----------- 290,592 ----------- AGRICULTURE -- 0.7% Corn Products International, Inc. .... 2,742 87,744 Universal Corp. ...................... 2,241 88,878 ----------- 176,622 ----------- AIR FREIGHT -- 0.2% Airborne, Inc. ....................... 3,900 45,201 ----------- AIRLINES -- 0.9% AirTran Holdings, Inc. (a)............ 5,587 58,664 Alaska Air Group, Inc. (a)............ 2,186 63,175 Northwest Airlines Corp. (Class A) (a)................................. 4,300 108,575 ----------- 230,414 ----------- AUTO PARTS & EQUIPMENT -- 3.0% Actuant Corp. ........................ 600 9,870 ArvinMeritor, Inc. ................... 5,435 90,982 BorgWarner, Inc. ..................... 2,137 106,038 Cooper Tire & Rubber Co. ............. 5,967 84,731 Federal-Mogul Corp. .................. 4,911 8,300 Modine Manufacturing Co. ............. 2,081 57,394 Snap-on, Inc. ........................ 4,766 115,147 Superior Industries International, Inc. ............................... 1,585 60,705 Tower Automotive, Inc. (a)............ 3,702 37,946 Visteon Corp. ........................ 10,914 200,599 ----------- 771,712 ----------- BANKS (REGIONAL) -- 9.5% AMCORE Financial, Inc. ............... 2,150 51,686 BancWest Corp. ....................... 4,390 151,016 BSB Bancorp, Inc. .................... 889 20,491 Chittenden Corp. ..................... 2,097 70,564 Citizens Banking Corp. ............... 3,258 95,297 City National Corp. .................. 3,414 151,206 Colonial Bancgroup, Inc. ............. 8,766 126,055 Commercial Federal Corp. ............. 4,283 98,937 Community First Bankshares, Inc. ..... 3,462 79,626 Cullen/Frost Bankers, Inc. ........... 4,274 144,675 First Midwest Bancorp, Inc. .......... 3,210 99,029 FirstMerit Corp. ..................... 6,040 159,456 Fulton Financial Corp. ............... 6,295 128,796 GBC Bancorp........................... 937 26,751 Hudson United Bancorp................. 3,819 97,385 Old National Bancorp.................. 4,600 121,440 Pacific Century Financial Corp. ...... 6,667 171,942 Provident Bankshares Corp. ........... 2,322 57,911 Provident Financial Group, Inc. ...... 2,510 82,629 Republic Bancorp, Inc. ............... 4,111 57,143 Sky Financial Group, Inc. ............ 6,200 117,366 South Financial Group, Inc. .......... 3,530 66,646 Sterling Bancshares, Inc. ............ 2,062 39,549 Trustmark Corp. ...................... 4,887 99,304 UnionBanCal Corp. .................... 4,386 147,808 ----------- 2,462,708 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- BROADCASTING (TV, RADIO & CABLE) -- 0.1% Hearst-Argyle Television, Inc. (a).... 1,300 $ 26,000 ----------- BUILDING MATERIALS GROUP -- 0.4% Elcor Chemical Corp. ................. 1,400 28,350 Lafarge Corp. ........................ 2,362 79,151 ----------- 107,501 ----------- CHEMICALS -- 0.7% Georgia Gulf Corp. ................... 2,400 37,200 Lyondell Chemical Co. ................ 9,800 150,724 ----------- 187,924 ----------- CHEMICALS (DIVERSIFIED) -- 0.2% Olin Corp. ........................... 3,602 61,198 ----------- CHEMICALS SPECIALTY -- 3.1% A. Schulman, Inc. .................... 2,397 32,360 Calgon Carbon Corp. .................. 2,900 22,765 Crompton Corp. ....................... 9,353 101,948 Cytec Industries, Inc. (a)............ 3,362 127,756 Ferro Corp. .......................... 2,898 63,205 H.B. Fuller Co. ...................... 1,117 55,738 Lubrizol Corp. ....................... 4,243 131,745 Millennium Chemicals, Inc. ........... 5,255 79,088 RPM, Inc. ............................ 8,424 77,501 Valspar Corp. ........................ 3,182 112,961 ----------- 805,067 ----------- COMMUNICATIONS EQUIPMENT -- 0.1% Brightpoint, Inc. (a)................. 4,800 13,920 EMS Technologies, Inc. (a)............ 800 12,200 ----------- 26,120 ----------- COMPUTERS (PERIPHERALS) -- 0.5% Storage Technology Corp. (a).......... 8,700 119,712 ----------- COMPUTER SOFTWARE/SERVICES -- 0.3% Intergraph Corp. (a).................. 3,800 58,520 Roxio, Inc. (a)....................... 1,300 16,900 ----------- 75,420 ----------- CONSTRUCTION -- 0.2% Texas Industries, Inc. ............... 1,473 50,656 ----------- CONSUMER (JEWELRY/NOVELTIES) -- 0.6% American Greetings Corp. (Class A).... 5,270 57,970 Lancaster Colony Corp. ............... 2,600 85,748 ----------- 143,718 ----------- CONTAINERS (METALS & GLASS) -- 0.6% Ball Corp. ........................... 2,318 110,244 Crown Cork & Seal Co., Inc. .......... 10,400 39,000 ----------- 149,244 ----------- CONTAINERS / PACKAGING (PAPER) -- 0.2% Chesapeake Corp. ..................... 1,225 30,319 Mail-Well, Inc. (a)................... 3,962 16,838 ----------- 47,157 -----------
See accompanying notes to financial statements. 32 34 STREETTRACKS DOW JONES U.S. SMALL CAP VALUE INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- DISTRIBUTORS (FOOD & HEALTH) -- 1.2% Fleming Cos., Inc. ................... 3,626 $ 129,448 Henry Schein, Inc. (a)................ 3,470 132,727 PSS World Medical, Inc. (a)........... 5,627 36,182 ----------- 298,357 ----------- ELECTRIC COMPANIES -- 5.0% ALLETE................................ 5,623 126,517 Avista Corp. ......................... 3,900 77,922 Cleco Corp. .......................... 3,690 83,948 Conectiv, Inc. ....................... 6,928 149,645 El Paso Electric Co. (a).............. 4,326 69,173 Hawaiian Electric Industries, Inc. ... 2,798 106,884 IDACORP, Inc. ........................ 3,054 106,524 OGE Energy Corp. ..................... 6,435 145,495 Public Service Co. of New Mexico...... 3,245 104,165 RSG Energy Group, Inc. ............... 2,833 106,237 Sierra Pacific Resources.............. 6,467 103,407 Western Resources, Inc. .............. 5,599 120,378 ----------- 1,300,295 ----------- ELECTRICAL EQUIPMENT -- 0.9% APW Ltd. (a).......................... 3,318 33,678 Checkpoint Systems, Inc. (a).......... 2,613 46,511 Cohu, Inc. ........................... 1,600 36,000 SLI, Inc. ............................ 1,777 14,660 Thomas & Betts Corp. ................. 4,814 106,245 ----------- 237,094 ----------- ELECTRONICS (COMPONENT DISTRIBUTION) -- 0.1% Pioneer Standard Electronics, Inc. ... 2,600 33,280 ----------- ELECTRONICS (SEMICONDUCTORS) -- 0.5% Adaptec, Inc. ........................ 8,200 81,508 ESS Technology, Inc. (a).............. 2,100 22,260 ON Semiconductor Corp. (a)............ 3,900 17,745 ----------- 121,513 ----------- ENGINEERING & CONSTRUCTION -- 0.5% Jacobs Engineering Group, Inc. (a).... 1,970 128,503 ----------- EQUIPMENT (SEMICONDUCTORS) -- 0.5% Axcelis Technologies, Inc. (a)........ 8,100 119,880 ----------- FINANCIAL (DIVERSIFIED) -- 14.8% Allied Capital Corp. ................. 7,555 174,898 Arden Realty, Inc. ................... 5,275 140,842 Brandywine Realty Trust............... 2,749 61,715 BRE Properties, Inc. (Class A)........ 3,838 116,291 Camden Property Trust................. 3,306 121,330 Capital Automotive REIT............... 1,697 30,546 CarrAmerica Realty Corp. ............. 2,900 88,450 CBL & Associates Properties, Inc. .... 1,697 52,081 Chelsea Property Group, Inc. ......... 1,280 60,032 Colonial Properties Trust............. 1,072 33,018 Cousins Properties, Inc. ............. 3,225 86,591 Developers Diversified Realty Corp. .............................. 4,094 75,248 Equity Inns, Inc. .................... 2,973 29,135 Federal Realty Investment Trust....... 3,302 68,483 FelCor Lodging Trust, Inc. ........... 3,198 74,833
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- First Industrial Realty Trust, Inc. ............................... 3,250 $ 104,455 Franchise Finance Corp. of America.... 4,100 102,951 General Growth Properties, Inc. ...... 3,935 154,882 Glenborough Realty Trust, Inc. ....... 2,009 38,774 Health Care Property Investors, Inc. ............................... 4,219 145,134 Health Care REIT, Inc. ............... 2,373 56,359 Healthcare Reality Trust, Inc. ....... 3,370 88,631 Heller Financial, Inc. ............... 3,800 152,000 Highwoods Properties, Inc. ........... 4,551 121,284 Home Properties of New York, Inc. .... 1,501 45,180 Hospitality Properties Trust.......... 4,383 124,916 HRPT Properties Trust................. 10,910 106,154 iStar Financial, Inc. ................ 2,742 77,324 JDN Realty Corp. ..................... 2,517 34,231 Kilroy Realty Corp. .................. 2,289 66,610 Koger Equity.......................... 2,229 36,779 Macerich Co. ......................... 2,854 70,779 Mack-Cali Realty Corp. ............... 4,695 133,714 Manufactured Home Communities, Inc. ............................... 1,601 44,988 Medallion Financial Corp. ............ 1,213 12,433 MeriStar Hospitality Corp. ........... 3,678 87,353 Mills Corp. .......................... 1,877 46,174 Mutual Risk Management, Ltd. ......... 3,358 29,886 Nationwide Health Properties, Inc. ... 3,798 76,720 Post Properties, Inc. ................ 3,218 121,801 Prentiss Properties Trust............. 2,845 74,824 Reckson Associates Realty Corp. ...... 3,502 80,546 RFS Hotel Investors, Inc. ............ 2,017 31,848 Security Capital Group, Inc. (Class B) (a)................................. 7,062 151,127 Shurgard Storage Centers, Inc. (Class A).................................. 2,309 72,156 SL Green Realty Corp. ................ 2,009 60,893 Storage USA, Inc. .................... 1,293 46,548 ----------- 3,810,947 ----------- FOODS -- 1.7% Dean Foods Co. ....................... 2,709 108,902 Dole Food Co., Inc. .................. 3,538 67,399 Flowers Foods, Inc. (a)............... 1,620 50,787 International Multifoods Corp. ....... 1,581 32,806 Interstate Bakeries Corp. ............ 2,400 38,400 Ralcorp Holdings, Inc. (a)............ 2,500 46,850 Tyson Foods, Inc. (Class A)........... 9,794 90,202 ----------- 435,346 ----------- FOOTWEAR -- 0.9% Reebok International, Ltd. (a)........ 4,398 140,516 Stride Rite Corp. .................... 3,362 28,577 Wolverine World Wide, Inc. ........... 3,810 68,085 ----------- 237,178 ----------- GAMING, LOTTERY, & PARIMUTUEL -- 0.6% Mandalay Resort Group (a)............. 5,300 145,220 ----------- HARDWARE & TOOLS -- 0.1% WD-40 Co. ............................ 1,236 27,736 ----------- HEATLH CARE (LONG TERM CARE) -- 1.0% Manor Care, Inc. (a).................. 8,432 267,716 -----------
See accompanying notes to financial statements. 33 35 STREETTRACKS DOW JONES U.S. SMALL CAP VALUE INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- HEALTH CARE (MANAGED CARE) -- 0.8% Humana, Inc. (a)...................... 13,291 $ 130,917 US Oncology, Inc. (a)................. 7,897 70,204 ----------- 201,121 ----------- HEALTH CARE (SPECIAL SERVICES) -- 0.8% Omnicare, Inc. ....................... 7,772 156,994 Pediatrix Medical Group, Inc. (a)..... 1,865 61,918 ----------- 218,912 ----------- HOMEBUILDING -- 2.3% Champion Enterprises, Inc. (a)........ 3,686 41,947 Clayton Homes, Inc. .................. 8,200 128,904 Del Webb Corp. (a).................... 1,489 57,609 Fleetwood Enterprises, Inc. .......... 2,629 37,016 Lennar Corp. ......................... 4,315 179,936 LNR Property Corp. ................... 2,013 70,455 Toll Brothers, Inc. (a)............... 2,113 83,062 ----------- 598,929 ----------- HOUSEWARES -- 0.4% Tupperware Corp. ..................... 4,294 100,608 ----------- INSURANCE (LIFE/HEALTH) -- 0.9% AmerUs Group Co. ..................... 1,292 45,827 Nationwide Financial Services, Inc. (Class A)........................... 1,973 86,121 Presidential Life Corp. .............. 1,829 40,970 Reinsurance Group of America, Inc. ... 1,689 64,013 ----------- 236,931 ----------- INSURANCE (MULTI-LINE) -- 0.8% Leucadia National Corp. .............. 2,785 90,373 StanCorp Financial Group, Inc. ....... 2,566 121,603 ----------- 211,976 ----------- INSURANCE (PROPERTY/CASUALTY) -- 7.3% American Financial Group, Inc. ....... 3,194 96,778 CNA Financial Corp. (a)............... 2,000 78,900 Everest Re Group, Ltd. ............... 3,762 281,398 Fidelity National Financial, Inc. .... 6,126 150,516 First American Corp. ................. 4,626 87,616 Fremont General Corp. ................ 5,006 32,539 HCC Insurance Holdings, Inc. ......... 4,570 111,965 Horace Mann Educators Corp. .......... 3,338 71,934 Mercury General Corp. ................ 2,157 75,430 Ohio Casualty Corp. .................. 4,598 59,544 Old Republic International Corp. ..... 9,145 265,205 PartnerRe Ltd. ....................... 1,800 99,720 RenaissanceRe Holdings Ltd. .......... 1,517 112,410 Selective Insurance Group, Inc. ...... 2,057 54,881 Trenwick Group Ltd. .................. 3,065 70,250 Unitrin, Inc. ........................ 4,093 157,171 W.R. Berkley Corp. ................... 2,100 86,982 ----------- 1,893,239 ----------- INVESTMENT BANKING/BROKERAGE -- 0.7% Jefferies Group, Inc. ................ 1,773 57,445 Raymond James Financial, Inc. ........ 3,338 102,143 Southwest Securities Group, Inc. ..... 1,200 24,840 ----------- 184,428 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- INVESTMENT MANAGEMENT -- 0.3% American Capital Strategies, Ltd. .... 2,333 $ 65,464 ----------- LEISURE TIME (PRODUCTS) -- 0.3% Polaris Industries, Inc. ............. 1,966 90,043 ----------- LODGING (HOTELS) -- 0.4% La Quinta Properties, Inc. (a)........ 11,906 61,673 Prime Hospitality Corp. (a)........... 3,566 42,257 ----------- 103,930 ----------- MACHINERY (DIVERSIFIED) -- 0.9% Kaydon Corp. ......................... 2,500 64,125 Milacron, Inc. ....................... 2,814 44,095 Terex Corp. (a)....................... 2,286 48,463 Timken Co. ........................... 4,410 74,706 ----------- 231,389 ----------- MANUFACTURING (DIVERSIFIED) -- 2.0% Carlisle Cos., Inc. .................. 2,400 83,688 Crane Co. ............................ 4,355 135,005 Esterline Technologies Corp. (a)...... 1,701 36,997 Kaman Corp. (Class A)................. 1,749 30,957 National Service Industries, Inc. .... 3,426 77,325 Stewart & Stevenson Services, Inc. ... 2,100 69,300 Trinity Industries, Inc. ............. 3,114 63,837 U.S. Industries, Inc. ................ 6,247 25,613 ----------- 522,722 ----------- MANUFACTURING (SPECIALIZED) -- 2.1% Albany International Corp. (Class A) (a)................................. 2,093 39,557 Briggs & Stratton Corp. .............. 1,729 72,791 Flowserve Corp. (a)................... 3,137 96,463 Ionics, Inc. (a)...................... 1,400 44,100 Regal-Beloit Corp. ................... 1,765 36,712 Teleflex, Inc. ....................... 2,800 123,200 Watts Industries, Inc. (Class A)...... 1,501 25,442 York International Corp. ............. 3,206 112,274 ----------- 550,539 ----------- METAL FABRICATORS -- 1.2% General Cable Corp. .................. 2,741 50,845 Kennametal, Inc. ..................... 2,500 92,250 Mueller Industries, Inc. (a).......... 2,782 91,556 RTI International Metals, Inc. (a).... 1,600 24,400 Ryerson Tull, Inc. ................... 2,042 27,546 Wolverine Tube, Inc. (a).............. 873 14,466 ----------- 301,063 ----------- NATURAL GAS (DISTRIBUTION/ PIPE LINE) -- 3.6% AGL Resources, Inc. .................. 4,087 97,067 Equitable Resources, Inc. ............ 5,400 179,874 Northwest Natural Gas Co. ............ 2,078 51,742 NUI Corp. ............................ 1,024 23,634 ONEOK, Inc. .......................... 3,866 76,160 Peoples Energy Corp. ................. 2,953 118,711 Piedmont Natural Gas Co., Inc. ....... 2,637 93,666 Questar Corp. ........................ 6,716 166,288 Vectren Corp. ........................ 5,600 115,920 ----------- 923,062 -----------
See accompanying notes to financial statements. 34 36 STREETTRACKS DOW JONES U.S. SMALL CAP VALUE INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- OFFICE EQUIPMENT & SUPPLIES -- 0.7% HON Industries, Inc. ................. 3,800 $ 92,036 Steelcase, Inc. (Class A)............. 1,708 20,411 Wallace Computer Services, Inc. ...... 3,390 56,070 ----------- 168,517 ----------- OIL (INTERNATIONAL INTEGRATED) -- 0.1% Tesoro Petroleum Corp. (a)............ 2,565 32,319 ----------- OIL & GAS (DRILLING & EQUIPMENT) -- 0.2% Offshore Logistics, Inc. (a).......... 1,700 32,300 Seitel, Inc. (a)...................... 1,977 25,899 ----------- 58,199 ----------- OIL & GAS (EXPLORATION/PRODUCTS) -- 1.5% Ocean Energy, Inc. ................... 14,200 247,790 Pioneer Natural Resources Co. (a)..... 7,600 129,580 ----------- 377,370 ----------- OIL & GAS (REFINING & MARKETING) -- 1.0% Pennzoil-Quaker State Co. ............ 6,500 72,800 Valero Energy Corp. .................. 5,100 187,578 ----------- 260,378 ----------- PAPER & FOREST PRODUCTS -- 1.7% Caraustar Industries, Inc. ........... 2,229 20,507 Louisiana-Pacific Corp. .............. 8,609 100,983 Plum Creek Timber Co., Inc. .......... 5,700 160,341 Rayonier, Inc. ....................... 2,253 104,652 Wausau-Mosinee Paper Corp. ........... 3,462 44,625 ----------- 431,108 ----------- PERSONAL CARE -- 0.3% Alberto-Culver Co. (Class B).......... 1,850 77,774 ----------- PHOTOGRAPHY/IMAGING -- 0.0% Polaroid Corp. ....................... 3,600 9,360 ----------- PUBLISHING (NEWSPAPERS) -- 0.2% Hollinger Realty Trust, Inc. ......... 4,371 60,101 ----------- RAILROADS -- 0.5% Kansas City Southern Industries, Inc. (a)................................. 4,900 77,420 Wisconsin Central Transportation Corp. (a)................................. 3,197 53,486 ----------- 130,906 ----------- RESTAURANTS -- 0.8% Bob Evans Farms, Inc. ................ 2,954 53,172 CBRL Group, Inc. ..................... 4,631 78,495 IHOP Corp. (a)........................ 1,597 42,879 Ryan's Family Steak Houses, Inc. (a)................................. 2,614 32,022 ----------- 206,568 ----------- RETAIL (BUILDING SUPPLIES) -- 0.2% Hughes Supply, Inc. .................. 1,829 43,256 ----------- RETAIL (DEPARTMENT STORES) -- 0.4% Dillards, Inc. (Class A).............. 6,800 103,836 ----------- RETAIL (DISCOUNTERS) -- 0.8% Big Lots, Inc. (a).................... 9,333 127,676 Dress Barn, Inc. (a).................. 1,208 27,482 ShopKo Stores, Inc. (a)............... 2,261 16,460 Stein Mart, Inc. (a).................. 2,109 21,807 ----------- 193,425 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- RETAIL (SPECIALTY) -- 2.0% Casey's General Stores, Inc. ......... 3,863 $ 50,219 Footstar, Inc. (a).................... 1,588 54,627 OfficeMax, Inc. (a)................... 6,988 25,786 Pep Boys-Manny, Moe & Jack............ 4,106 46,110 PETsMART, Inc. (a).................... 7,344 51,775 Pier 1 Imports, Inc. ................. 7,900 90,850 Trans World Entertainment Corp. (a)... 3,198 30,413 Venator Group, Inc. (a)............... 11,500 175,950 ----------- 525,730 ----------- RETAIL (SPECIALTY APPAREL) -- 0.4% Talbots, Inc. ........................ 2,066 90,388 The Cato Corp. (Class A).............. 1,200 23,424 ----------- 113,812 ----------- RETAIL STORES (DRUG STORE) -- 0.2% Longs Drug Stores Corp. .............. 2,085 44,932 ----------- RETAIL STORES (FOOD CHAINS) -- 0.1% Great Atlantic & Pacific Tea Co., Inc. ............................... 1,400 20,720 ----------- SAVINGS & LOAN COMPANIES -- 7.2% Anchor BanCorp Wisconsin, Inc. ....... 1,789 28,445 Astoria Financial Corp. .............. 4,094 225,170 Bay View Capital Corp. ............... 2,537 18,977 Dime Community Bancshares............. 801 27,170 First Sentinel Bancorp, Inc. ......... 2,414 32,758 Golden State Bancorp, Inc. ........... 6,242 192,254 Harbor Florida Bancshares, Inc. ...... 1,922 36,806 Hudson City Bancorp, Inc. ............ 4,000 92,360 Independence Community Bank Corp. .... 4,698 92,739 IndyMac Bancorp, Inc. (a)............. 5,087 136,332 MAF Bancorp, Inc. .................... 1,889 57,992 OceanFirst Financial Corp. ........... 717 18,599 Ocwen Financial Corp. (a)............. 3,274 33,558 Pacific Northwest Bancorp............. 1,300 27,560 People's Bank......................... 2,117 49,347 Richmond County Financial Corp. ...... 1,785 66,973 Roslyn Bancorp, Inc. ................. 4,711 123,899 Sovereign Bancorp, Inc. .............. 20,442 265,746 Staten Island Bancorp, Inc. .......... 2,485 69,207 Washington Federal, Inc. ............. 4,753 116,544 Webster Financial Corp. .............. 4,095 134,234 ----------- 1,846,670 ----------- SERVICES (COMMERCIAL & CONSUMER) -- 1.8% Chemed Corp. ......................... 800 28,912 G & K Services, Inc. ................. 1,600 43,040 Navigant Consulting Co. (a)........... 3,200 26,240 Pittston Brink's Group................ 4,334 96,605 Regis Corp. .......................... 3,100 65,069 Service Corporation International (a)................................. 23,733 150,942 Stewart Enterprises, Inc. (Class A)... 8,121 59,283 ----------- 470,091 ----------- SERVICES (COMPUTER SYSTEMS) -- 0.2% CACI International, Inc. (a).......... 900 42,300 -----------
See accompanying notes to financial statements. 35 37 STREETTRACKS DOW JONES U.S. SMALL CAP VALUE INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- SERVICES (EMPLOYMENT) -- 0.3% Computer Horizons Corp. (a)........... 2,600 $ 8,086 Modis Professional Services, Inc. (a)................................. 8,200 56,580 ----------- 64,666 ----------- SHIPPING -- 0.3% Alexander & Baldwin, Inc. ............ 2,978 76,684 ----------- SPECIALTY PRINTING -- 0.4% Banta Corp. .......................... 2,057 60,270 Bowne & Co., Inc. .................... 2,701 31,062 ----------- 91,332 ----------- STEEL -- 1.1% AK Steel Holding Corp. ............... 8,968 112,459 Allegheny Technologies, Inc. ......... 5,503 99,549 Carpenter Technology Corp. ........... 1,593 46,659 Cleveland-Cliffs, Inc. ............... 808 14,948 ----------- 273,615 ----------- TEXTILES (APPAREL) -- 0.6% Kellwood Co. ......................... 1,869 43,174 Nautica Enterprises, Inc. (a)......... 2,457 50,196 Phillips-Van Heusen Corp. ............ 2,233 32,155 Russell Corp. ........................ 1,925 32,706 ----------- 158,231 ----------- TEXTILES (HOME FURNISHINGS) -- 0.2% Interface, Inc. (Class A)............. 3,578 26,835 Springs Industries, Inc. (Class A).... 832 36,691 ----------- 63,526 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- TEXTILES (SPECIALTY) -- 0.3% Unifi, Inc. (a)....................... 4,619 $ 39,262 Wellman, Inc. ........................ 2,600 46,540 ----------- 85,802 ----------- TRUCKERS -- 1.1% J.B. Hunt Transport Services, Inc. ... 1,705 32,395 Ryder Systems, Inc.................... 4,655 91,238 USFreightways Corp.................... 2,201 64,930 Werner Enterprises, Inc............... 2,770 67,172 Yellow Corp. (a)...................... 1,954 37,087 ----------- 292,822 ----------- WASTE MANAGEMENT -- 0.1% Casella Waste Systems, Inc. (Class A) (a)................................. 1,922 24,025 ----------- TOTAL COMMON STOCKS -- (Cost $21,623,449).................. 25,722,462 ----------- MONEY MARKET FUND -- 0.0% AIM Short Term Investment Class Prime Fund (Cost $4,560).................. 4,560 4,560 ----------- TOTAL INVESTMENTS -- 99.7% (Cost $21,628,009).................. 25,727,022 OTHER ASSETS AND LIABILITIES -- 0.3%................................ 76,237 ----------- NET ASSETS -- 100.0%.................. $25,803,259 ===========
(a) Non-income producing security See accompanying notes to financial statements. 36 38 STREETTRACKS DOW JONES GLOBAL TITANS INDEX FUND SCHEDULE OF INVESTMENTS JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- COMMON STOCKS -- 99.8% BERMUDA -- 1.7% Tyco International Ltd. ............... 6,700 $ 365,150 ----------- FINLAND -- 1.7% Nokia OYJ ADR.......................... 16,214 357,357 ----------- FRANCE -- 2.3% Axa ADR................................ 4,740 133,526 TotalFinaElf S.A. ADR.................. 5,052 354,650 ----------- TOTAL FRANCE........................... 488,176 ----------- GERMANY -- 3.0% Allianz AG ADR (a)..................... 4,920 145,189 DaimlerChrysler AG..................... 2,852 131,477 Deutsche Telekom AG ADR................ 8,234 184,854 Siemens AG ADR (a)..................... 2,880 178,243 ----------- TOTAL GERMANY.......................... 639,763 ----------- JAPAN -- 3.7% Mitsubishi Tokyo Financial Group, Inc. ADR (a).............................. 19,716 166,798 Sony Corp. ADR......................... 2,896 190,557 Toyota Motor Corp. ADR................. 6,114 430,731 ----------- TOTAL JAPAN............................ 788,086 ----------- NETHERLANDS -- 2.8% ING Groep N.V. ADR..................... 2,688 177,059 Royal Dutch Petroleum Co. (N.Y. Shares).............................. 7,282 424,322 ----------- TOTAL NETHERLANDS...................... 601,381 ----------- SWITZERLAND -- 5.5% Credit Suisse Group.................... 908 149,354 Nestle S.A. ........................... 1,380 293,437 Novartis AG ADR........................ 8,986 324,844 Roche Holding AG....................... 2,400 173,003 UBS AG................................. 1,522 216,139 ----------- TOTAL SWITZERLAND...................... 1,156,777 ----------- UNITED KINGDOM -- 11.9% BP Amoco PLC ADR....................... 12,916 643,862 British Telecommunications PLC ADR..... 2,976 192,398 GlaxoSmithKline PLC ADR................ 10,700 601,340 HSBC Holdings PLC ADR.................. 6,312 378,089 Lloyds TSB Group PLC................... 19,178 192,165
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- Vodafone Group PLC ADR................. 22,423 $ 501,154 ----------- TOTAL UNITED KINGDOM................... 2,509,008 ----------- UNITED STATES -- 67.2% American International Group, Inc. .... 6,892 592,712 AOL Time Warner, Inc. (a).............. 14,700 779,100 AT&T Corp. ............................ 12,929 284,438 Bank of America Corp. ................. 5,570 334,367 BellSouth Corp. ....................... 6,408 258,050 Cisco Systems, Inc. (a)................ 25,003 455,055 Citigroup, Inc. ....................... 17,295 913,868 Exxon Mobil Corp. ..................... 11,949 1,043,745 Ford Motor Co. ........................ 6,066 148,920 General Electric Co.................... 34,209 1,667,689 Intel Corp. ........................... 23,175 677,869 International Business Machines Corp. (IBM)................................ 6,046 683,198 J.P. Morgan Chase & Co. ............... 6,833 304,752 Johnson & Johnson...................... 10,328 516,400 Merck & Co., Inc. ..................... 7,899 504,825 Microsoft Corp. (a).................... 15,809 1,154,057 Morgan Stanley Dean Witter & Co. ...... 3,828 245,872 Pfizer, Inc. .......................... 21,800 873,090 Philip Morris Cos., Inc. .............. 7,608 386,106 SBC Communications, Inc. .............. 11,632 465,978 The Coca-Cola Co. ..................... 7,900 355,500 The Procter & Gamble Co. .............. 4,454 284,165 The Walt Disney Co. ................... 7,140 206,275 Verizon Communications................. 9,310 498,085 Wal-Mart Stores, Inc. ................. 9,474 462,331 WorldCom, Inc. ........................ 9,932 141,034 ----------- TOTAL UNITED STATES.................... 14,237,481 ----------- TOTAL COMMON STOCKS -- (Cost $24,481,893)................... 21,143,179 ----------- TOTAL INVESTMENTS -- 99.8% (Cost $24,481,893)................... 21,143,179 OTHER ASSETS AND LIABILITIES -- 0.2%... 45,352 ----------- NET ASSETS -- 100.0%................... $21,188,531 ===========
(a) Non-income producing security ADR = American Depositary Receipt See accompanying notes to financial statements. 37 39 STREETTRACKS DOW JONES GLOBAL TITANS INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) ANALYSIS OF INDUSTRY CLASSIFICATIONS JUNE 30, 2001 - --------------------------------------------------------------------------------
PERCENT OF INDUSTRY NET ASSETS VALUE - -------- ---------- ----------- Automobiles................................................. 3.4% $ 711,129 Banks (Money Center)........................................ 4.9 1,028,607 Beverages (Non-Alcoholic)................................... 1.7 355,500 Cellular/Wireless Telecommunications........................ 2.4 501,154 Communications Equipment.................................... 1.7 357,357 Computers (Hardware)........................................ 3.2 683,198 Computers (Networking)...................................... 2.1 455,055 Computer Software/Services.................................. 5.4 1,154,057 Electrical Equipment........................................ 9.6 2,036,489 Electronics (Semiconductors)................................ 3.2 677,869 Entertainment............................................... 4.7 985,375 Financial (Diversified)..................................... 7.8 1,656,657 Foods....................................................... 1.4 293,437 Health Care (Drugs/Pharmaceuticals)......................... 11.7 2,477,102 Health Care Diversified..................................... 2.4 516,400 Household Products (Non-Durable)............................ 1.3 284,165 Insurance (Life/Health)..................................... 1.5 310,584 Insurance (Multi-Line)...................................... 3.5 737,901 Investment Management....................................... 1 216,139 Manufacturing (Diversified)................................. 1.7 365,150 Oil (International Integrated).............................. 11.6 2,466,580 Retail (General Merchandising Chain)........................ 2.2 462,331 Telephone................................................... 5.8 1,222,113 Telephone (Long Distance)................................... 3.8 802,724 Tobacco..................................................... 1.8 386,106 ----- ----------- TOTAL.............................................. 99.8% $21,143,179 ===== ===========
See accompanying notes to financial statements. 38 40 STREETTRACKS WILSHIRE REIT INDEX FUND SCHEDULE OF INVESTMENTS JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- COMMON STOCKS -- 99.3% REAL ESTATE INVESTMENT TRUST -- 99.3% Alexandria Real Estate Equities, Inc. ................................ 2,305 $ 91,739 AMB Property Corp. .................... 11,946 307,729 Amli Residential Properties Trust...... 2,535 62,361 Apartment Investment & Management Co. (Class A)............................ 10,328 497,810 Archstone Communities Trust............ 17,015 438,647 Arden Realty, Inc. .................... 8,939 238,671 Associated Estates Realty Corp. ....... 2,760 26,662 Avalonbay Communities, Inc. ........... 9,540 445,995 Bedford Property Investors, Inc. ...... 2,514 52,668 Boston Properties, Inc. ............... 12,700 519,430 Boykin Lodging Co. .................... 2,436 31,424 Brandywine Realty Trust................ 5,067 113,754 BRE Properties, Inc. (Class A)......... 6,579 199,344 Cabot Industrial Trust................. 5,769 121,149 Camden Property Trust.................. 5,735 210,475 CarrAmerica Realty Corp. .............. 8,731 266,295 CBL & Associates Properties, Inc. ..... 3,558 109,195 Center Trust, Inc. .................... 3,795 17,609 CenterPoint Properties Corp. .......... 2,865 143,823 Charles E. Smith Residential Realty, Inc. ................................ 3,195 160,229 Chateau Communities, Inc. ............. 4,050 127,170 Chelsea Property Group, Inc. .......... 2,283 107,073 Colonial Properties Trust.............. 2,946 90,737 Cornerstone Realty Income Trust, Inc. ................................ 6,659 77,244 Corporate Office Properties Trust...... 2,901 29,010 Cousins Properties, Inc. .............. 6,929 186,044 Crescent Real Estate Equities Co. ..... 15,243 374,521 Crown American Realty Trust............ 3,720 31,062 Developers Diversified Realty Corp. ... 7,694 141,416 Duke-Weeks Realty Corp. ............... 18,165 451,400 EastGroup Properties, Inc. ............ 2,253 50,918 Equity Inns, Inc. ..................... 5,229 51,244 Equity Office Properties Trust......... 43,660 1,380,966 Equity Residential Properties Trust.... 18,855 1,066,250 Essex Property Trust, Inc. ............ 2,649 131,258 Federal Realty Investment Trust........ 5,619 116,538 FelCor Lodging Trust, Inc. ............ 7,455 174,447 First Industrial Realty Trust, Inc. ... 5,580 179,341 First Union Real Estate Equity & Mortgage Investments................. 4,929 11,337 Gables Residential Trust............... 3,285 98,386 General Growth Properties, Inc. ....... 7,419 292,012 Glenborough Realty Trust, Inc. ........ 3,834 73,996 Glimcher Realty Trust.................. 4,084 73,104 Great Lakes REIT, Inc. ................ 2,376 43,267 Highwoods Properties, Inc. ............ 7,553 201,287 Home Properties of New York, Inc. ..... 3,063 92,196 Hospitality Properties Trust........... 7,919 225,692 Host Marriott Corp. ................... 32,922 412,183 Innkeepers USA Trust................... 4,935 59,121 IRT Property Co. ...................... 4,302 46,849 JDN Realty Corp. ...................... 4,650 63,240 JP Realty, Inc. ....................... 2,274 55,713 Kilroy Realty Corp. ................... 3,859 112,297 Kimco Realty Corp. .................... 8,982 425,298 Koger Equity........................... 3,810 62,865
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- Konover Property Trust, Inc. .......... 4,440 $ 13,231 LaSalle Hotel Properties............... 2,612 46,546 Liberty Property Trust................. 9,956 294,698 Macerich Co. .......................... 4,754 117,899 Mack-Cali Realty Corp. ................ 7,982 227,327 Manufactured Home Communities, Inc. ... 2,991 84,047 MeriStar Hospitality Corp. ............ 6,221 147,749 Mid-America Apartment Communities, Inc. ................................ 2,481 63,489 Mid-Atlantic Realty Trust.............. 1,968 24,600 Mills Corp. ........................... 3,414 83,984 New Plan Excel Realty Trust............ 12,281 187,899 Pan Pacific Retail Properties, Inc. ... 4,458 115,908 Parkway Properties, Inc. .............. 1,323 46,636 Pennsylvania Real Estate Investment Trust................................ 1,935 47,795 Post Properties, Inc. ................. 5,425 205,336 Prentiss Properties Trust.............. 5,096 134,025 Prime Group Realty Trust............... 2,214 29,889 ProLogis Trust......................... 24,545 557,662 PS Business Parks, Inc. ............... 3,161 88,508 Public Storage, Inc. .................. 15,979 473,777 Reckson Associates Realty Corp. ....... 6,504 149,592 Regency Centers Corp. ................. 8,054 204,572 RFS Hotel Investors, Inc. ............. 3,531 55,754 Rouse Co. ............................. 9,659 276,730 Saul Centers, Inc. .................... 1,968 37,176 Shurgard Storage Centers, Inc. (Class A)................................... 4,221 131,906 Simon Property Group, Inc. ............ 24,114 722,697 SL Green Realty Corp. ................. 3,486 105,661 Sovran Self Storage, Inc. ............. 1,704 46,638 Spieker Properties, Inc. .............. 9,466 567,487 Storage USA, Inc. ..................... 3,843 138,348 Summit Properties, Inc. ............... 3,762 100,934 Sun Communities, Inc. ................. 2,484 87,809 Tanger Factory Outlet Centers, Inc. ... 1,125 25,875 Taubman Centers, Inc. ................. 7,004 98,056 Town & Country Trust................... 2,274 46,390 United Dominion Realty Trust, Inc. .... 14,291 205,076 Vornado Realty Trust................... 12,227 477,342 Washington Real Estate Investment Trust................................ 5,082 120,138 Weingarten Realty Investors............ 4,564 200,131 Winston Hotels, Inc. .................. 2,403 25,159 ----------- 17,984,967 ----------- TOTAL REAL ESTATE INVESTMENT TRUST -- (Cost $16,367,574)................... 17,984,967 ----------- TOTAL COMMON STOCKS -- (Cost $16,367,574)................... 17,984,967 ----------- SHORT TERM INVESTMENTS -- 0.1% MONEY MARKET FUND -- 0.1% AIM Short Term Investment Class Prime Fund (Cost $20,050).................. 20,050 20,050 ----------- TOTAL INVESTMENTS -- 99.4% (Cost $16,387,624)................... 18,005,017 OTHER ASSETS AND LIABILITIES -- 0.6%.................. 115,596 ----------- NET ASSETS -- 100.0%................... $18,120,613 ===========
See accompanying notes to financial statements. 39 41 STREETTRACKS MORGAN STANLEY HIGH TECH 35 INDEX FUND SCHEDULE OF INVESTMENTS JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- COMMON STOCKS -- 99.9% COMMUNICATIONS EQUIPMENT -- 7.7% JDS Uniphase Corp. (a)................ 45,227 $ 565,338 Lucent Technologies, Inc.............. 147,763 916,131 Motorola, Inc......................... 135,350 2,241,396 Nortel Networks Corp.................. 67,162 610,503 Sycamore Networks, Inc. (a)........... 47,667 444,256 Tellabs, Inc. (a)..................... 41,980 813,572 ----------- 5,591,196 ----------- COMPUTERS (HARDWARE) -- 19.1% Compaq Computer Corp.................. 151,679 2,349,508 Dell Computer Corp. (a)............... 132,416 3,462,678 Hewlett-Packard Co.................... 83,198 2,379,463 International Business Machines Corp. (IBM)............................... 29,980 3,387,740 Juniper Networks, Inc. (a)............ 20,464 636,430 Palm, Inc. (a)........................ 59,191 359,289 Sun Microsystems, Inc. (a)............ 86,469 1,359,293 ----------- 13,934,401 ----------- COMPUTERS (NETWORKING) -- 1.4% Cisco Systems, Inc. (a)............... 54,636 994,375 ----------- COMPUTERS (PERIPHERALS) -- 1.6% EMC Corp. (a)......................... 39,343 1,142,914 ----------- COMPUTER SOFTWARE/SERVICES -- 32.5% Computer Associates International, Inc................................. 108,187 3,894,732 Electronic Arts (a)................... 69,544 4,026,598 Intuit, Inc. (a)...................... 54,561 2,181,894 Microsoft Corp. (a)................... 53,507 3,906,011 Oracle Corp. (a)...................... 91,891 1,745,929 Parametric Technology Corp. (a)....... 212,607 2,974,372 Peoplesoft, Inc. (a).................. 67,103 3,303,481 Yahoo!, Inc. (a)...................... 79,703 1,593,263 ----------- 23,626,280 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- ELECTRICAL EQUIPMENT -- 2.4% Solectron Corp. (a)................... 93,848 $ 1,717,418 ----------- ELECTRONICS (SEMICONDUCTORS) -- 17.4% Broadcom Corp. (Class A) (a).......... 21,341 912,541 Intel Corp............................ 81,100 2,372,175 Micron Technology, Inc. (a)........... 73,364 3,015,260 StMicroelectronics N.V................ 57,462 1,953,708 Texas Instruments, Inc................ 56,030 1,764,945 Xilinx, Inc. (a)...................... 64,836 2,673,837 ----------- 12,692,466 ----------- ENTERTAINMENT -- 3.9% AOL Time Warner, Inc. (a)............. 53,759 2,849,227 ----------- EQUIPMENT (SEMICONDUCTORS) -- 4.5% Applied Materials, Inc. (a)........... 66,659 3,272,957 ----------- RETAIL (HOME SHOPPING) -- 2.2% Amazon.com, Inc. (a).................. 114,996 1,627,193 ----------- SERVICES (COMPUTER SYSTEMS) -- 4.2% Electronic Data Systems Corp.......... 48,481 3,030,063 ----------- SERVICES (DATA PROCESSING) -- 3.0% Automatic Data Processing, Inc........ 43,910 2,182,327 ----------- TOTAL COMMON STOCKS -- (Cost $108,297,491)................. 72,660,817 ----------- MONEY MARKET FUND -- 0.1% AIM Short Term Investment Class Prime Fund (Cost $56,082)................. 56,082 56,082 ----------- TOTAL INVESTMENTS -- 100.0% (Cost $108,353,573)................. 72,716,899 OTHER ASSETS AND LIABILITIES -- 0.0%................................ 6,628 ----------- NET ASSETS -- 100.0%.................. $72,723,527 ===========
(a) Non-income producing security See accompanying notes to financial statements. 40 42 STREETTRACKS MORGAN STANLEY INTERNET INDEX FUND SCHEDULE OF INVESTMENTS JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- COMMON STOCKS -- 99.9% COMMUNICATIONS EQUIPMENT -- 6.3% Ciena Corp. (a)....................... 5,145 $ 195,510 Sycamore Networks, Inc. (a)........... 25,008 233,075 ----------- 428,585 ----------- COMPUTERS (HARDWARE) -- 6.2% Juniper Networks, Inc. (a)............ 6,625 206,038 Sun Microsystems, Inc. (a)............ 13,584 213,540 ----------- 419,578 ----------- COMPUTERS (NETWORKING) -- 3.3% Cisco Systems, Inc. (a)............... 12,399 225,662 ----------- COMPUTERS (PERIPHERALS) -- 3.2% EMC Corp. (a)......................... 7,427 215,754 ----------- COMPUTER SOFTWARE/SERVICES -- 58.1% Ariba, Inc. (a)....................... 42,811 235,460 At Home Corp. (Series A) (a).......... 73,704 157,727 CNET Networks, Inc. (a)............... 20,295 263,835 E.piphany, Inc. (a)................... 22,923 232,898 eBay, Inc. (a)........................ 3,171 217,182 Exodus Communications, Inc. (a)....... 44,761 92,208 Genuity, Inc. (a)..................... 68,782 214,600 HomeStore.com, Inc. (a)............... 7,600 265,696 i2 Technologies, Inc. (a)............. 11,671 231,086 Inktomi Corp. (a)..................... 24,194 232,020 Intuit, Inc. (a)...................... 5,762 230,422 Microsoft Corp. (a)................... 3,035 221,555 Oracle Corp. (a)...................... 13,756 261,364 VeriSign, Inc. (a).................... 4,121 247,301 VerticalNet, Inc. (a)................. 128,976 321,150 WebMD Corp. (a)....................... 36,852 257,964 Yahoo!, Inc. (a)...................... 12,893 257,731 ----------- 3,940,199 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- ENTERTAINMENT -- 3.2% AOL Time Warner, Inc. (a)............. 4,059 $ 215,127 ----------- INVESTMENT BANKING/BROKERAGE -- 3.0% The Charles Schwab Corp. ............. 13,164 201,409 ----------- RETAIL (HOME SHOPPING) -- 3.5% Amazon.com, Inc. (a).................. 16,520 233,758 ----------- SERVICES (ADVERTISING/MARKETING) -- 6.8% DoubleClick, Inc. (a)................. 16,804 234,584 TMP Worldwide, Inc. (a)............... 3,714 222,840 ----------- 457,424 ----------- SERVICES (COMPUTER SYSTEMS) -- 3.6% Sapient Corp. (a)..................... 25,230 245,992 ----------- TELEPHONE (LONG DISTANCE) -- 2.7% WorldCom, Inc. (a).................... 13,065 185,523 ----------- TOTAL COMMON STOCKS -- (Cost $10,730,444).................. 6,769,011 ----------- MONEY MARKET FUND -- 0.0% AIM Short Term Investment Class Prime Fund (Cost $3)...................... 3 3 ----------- TOTAL INVESTMENTS -- 99.9% (Cost $10,730,447).................. 6,769,014 OTHER ASSETS AND LIABILITIES -- 0.1%................................ 8,153 ----------- NET ASSETS -- 100.0%.................. $ 6,777,167 ===========
(a) Non-income producing security See accompanying notes to financial statements. 41 43 FORTUNE 500(R) INDEX FUND SCHEDULE OF INVESTMENTS JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- COMMON STOCKS -- 99.9% AEROSPACE/DEFENSE -- 0.9% General Dynamics Corp. ............. 948 $ 73,764 Lockheed Martin Corp. .............. 2,030 75,211 Northrop Grumman Corp. ............. 397 31,800 The B.F. Goodrich Co. .............. 495 18,800 The Boeing Co. ..................... 4,098 227,849 ----------- 427,424 ----------- AGRICULTURE -- 0.1% Archer-Daniels-Midland Co. ......... 3,028 39,364 Universal Corp. .................... 100 3,966 ----------- 43,330 ----------- AIR FREIGHT -- 0.1% Airborne, Inc. ..................... 248 2,875 FedEx Corp. (a)..................... 1,366 54,913 ----------- 57,788 ----------- AIRLINES -- 0.3% AMR Corp. .......................... 725 26,194 Continental Airlines, Inc. (Class B) (a)............................... 286 14,085 Delta Air Lines, Inc. .............. 594 26,184 Northwest Airlines Corp. (Class A) (a)............................... 406 10,252 Southwest Airlines Co. ............. 3,586 66,305 UAL Corp. .......................... 253 8,893 US Airways Group, Inc. (a).......... 310 7,533 ----------- 159,446 ----------- ALUMINUM -- 0.3% Alcoa, Inc. ........................ 4,062 160,043 ----------- AUTOMOBILES -- 0.8% Ford Motor Co. ..................... 8,584 210,737 General Motors Corp. ............... 2,559 164,672 ----------- 375,409 ----------- AUTO PARTS & EQUIPMENT -- 0.3% ArvinMeritor, Inc. ................. 341 5,709 Cooper Tire & Rubber Co. ........... 300 4,260 Dana Corp. ......................... 715 16,688 Delphi Automotive Systems Corp. .... 2,600 41,418 Genuine Parts Co. .................. 856 26,964 Lear Corp. (a)...................... 328 11,447 The Goodyear Tire & Rubber Co. ..... 750 21,000 TRW, Inc. .......................... 585 23,985 ----------- 151,471 ----------- BANKS (MAJOR REGIONAL) -- 4.3% Amsouth BanCorp. ................... 1,806 33,393 Bank One Corp. ..................... 5,441 194,788 BB&T Corp. ......................... 1,925 70,647 Comerica, Inc. ..................... 850 48,960 Fifth Third Bancorp................. 2,704 162,375 FleetBoston Financial Corp. ........ 5,073 200,130 KeyCorp............................. 1,981 51,605 Mellon Financial Corp. ............. 2,245 103,270 National City Corp. ................ 2,809 86,461 Northern Trust Corp. ............... 1,046 65,375
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- PNC Financial Services Group........ 1,352 $ 88,948 Regions Financial Corp. ............ 1,038 33,216 Southtrust Corp. ................... 1,628 42,328 SunTrust Banks, Inc. ............... 1,341 86,870 The Bank of New York Co., Inc. ..... 3,437 164,976 U.S. Bancorp........................ 8,927 203,446 Wachovia Corp. ..................... 970 69,016 Wells Fargo & Co. .................. 8,053 373,901 ----------- 2,079,705 ----------- BANKS (MONEY CENTER) -- 1.3% Bank of America Corp. .............. 7,530 452,026 First Union Corp. .................. 4,551 159,012 ----------- 611,038 ----------- BEVERAGES (ALCOHOLIC) -- 0.4% Anheuser-Busch Cos., Inc. .......... 4,204 173,205 ----------- BEVERAGES (NON-ALCOHOLIC) -- 1.9% Coca-Cola Enterprises, Inc. ........ 2,020 33,027 PepsiCo, Inc. ...................... 6,877 303,963 The Coca-Cola Co. .................. 11,635 523,575 The Pepsi Bottling Group, Inc. ..... 700 28,070 ----------- 888,635 ----------- BIOTECHNOLOGY -- 0.6% Amgen, Inc. (a)..................... 4,880 296,118 ----------- BROADCASTING (TV, RADIO & CABLE) -- 1.8% AT&T Corp. -- Liberty Media Corp. (Class A) (a)..................... 12,157 212,626 Cablevision Systems Corp. (Class A) (a)............................... 827 48,379 Charter Communications, Inc. (a).... 1,300 30,355 Clear Channel Communications, Inc. (a)............................... 2,760 173,052 Comcast Corp. (Class A) (a)......... 4,439 192,653 Cox Communications, Inc. (Class A) (a)............................... 2,800 124,040 USA Networks, Inc. (a).............. 3,402 95,256 ----------- 876,361 ----------- BUILDING MATERIALS GROUP -- 0.1% Lennox International, Inc. ......... 200 2,190 Masco Corp. ........................ 2,044 51,018 USG Corp. .......................... 209 882 ----------- 54,090 ----------- CELLULAR/WIRELESS TELECOMMUNICATIONS -- 0.8% AT&T Wireless Group (a)............. 11,900 194,565 Nextel Communications, Inc. (Class A) (a)............................ 3,656 63,980 Sprint Corp. (PCS Group) (a)........ 4,340 104,811 ----------- 363,356 ----------- CHEMICALS -- 1.1% Air Products & Chemicals, Inc. ..... 1,064 48,678 E. I. du Pont de Nemours & Co. ..... 4,899 236,328 Eastman Chemical Co. ............... 374 17,814 Lyondell Chemical Co. .............. 572 8,797 Praxair, Inc. ...................... 750 35,250
See accompanying notes to financial statements. 42 44 FORTUNE 500(R) INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- Rohm & Haas Co. .................... 1,027 $ 33,788 The Dow Chemical Co. ............... 4,196 139,517 ----------- 520,172 ----------- CHEMICALS (DIVERSIFIED) -- 0.1% Engelhard Corp. .................... 616 15,887 FMC Corp. (a)....................... 143 9,804 PPG Industries, Inc. ............... 753 39,585 ----------- 65,276 ----------- COMMUNICATIONS EQUIPMENT -- 1.3% ADC Telecommunications, Inc. (a).... 3,600 23,760 Anixter International, Inc. (a)..... 200 6,140 Corning, Inc. ...................... 4,286 71,619 Lucent Technologies, Inc. .......... 15,840 98,208 Motorola, Inc. ..................... 10,163 168,299 QUALCOMM, Inc. (a).................. 3,523 206,025 Tellabs, Inc. (a)................... 1,900 36,822 ----------- 610,873 ----------- COMPUTERS (HARDWARE) -- 4.1% Apple Computer, Inc. (a)............ 1,572 36,549 Compaq Computer Corp. .............. 7,869 121,891 Dell Computer Corp. (a)............. 12,267 320,782 Gateway, Inc. (a)................... 1,533 25,218 Hewlett-Packard Co. ................ 9,057 259,030 International Business Machines Corp. (IBM)....................... 8,127 918,351 NCR Corp. (a)....................... 453 21,291 Sun Microsystems, Inc. (a).......... 15,233 239,463 ----------- 1,942,575 ----------- COMPUTERS (NETWORKING) -- 1.3% 3Com Corp. ......................... 1,713 8,137 Cisco Systems, Inc. (a)............. 34,237 623,113 ----------- 631,250 ----------- COMPUTERS (PERIPHERALS) -- 0.7% EMC Corp. (a)....................... 10,367 301,161 Lexmark International, Inc. (a)..... 616 41,426 Quantum Corp.-DLT & Storage Systems (a)............................... 706 7,124 ----------- 349,711 ----------- COMPUTER SOFTWARE/SERVICES -- 5.1% Computer Associates International, Inc. ............................. 2,676 96,336 Microsoft Corp. (a)................. 25,062 1,829,526 Oracle Corp. (a).................... 26,168 497,192 Unisys Corp. (a).................... 1,498 22,036 ----------- 2,445,090 ----------- CONSUMER FINANCE -- 0.9% Capital One Financial Corp. ........ 937 56,220 Household International, Inc. ...... 2,168 144,606 MBNA Corp. ......................... 3,996 131,668 Providian Financial Corp. .......... 1,286 76,131 ----------- 408,625 ----------- CONTAINERS (METALS & GLASS) -- 0.0% Ball Corp. ......................... 152 7,229 Owens-Illinois, Inc. (a)............ 600 4,068 ----------- 11,297 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- CONTAINERS/PACKAGING (PAPER) -- 0.0% Temple-Inland, Inc. ................ 242 $ 12,896 ----------- DISTRIBUTORS (FOOD & HEALTH) -- 0.7% Amerisource Health Corp. (Class A) (a)............................... 253 13,991 Bergen Brunswig Corp. (Class A)..... 649 12,474 Cardinal Health, Inc. .............. 2,098 144,762 Fleming Cos., Inc. ................. 187 6,676 McKesson HBOC, Inc. ................ 1,375 51,040 Owens & Minor, Inc. ................ 100 1,900 SUPERVALU, Inc. .................... 638 11,197 SYSCO Corp. ........................ 3,185 86,472 ----------- 328,512 ----------- ELECTRIC COMPANIES -- 2.7% Allegheny Energy, Inc. ............. 600 28,950 Ameren Corp. ....................... 651 27,798 American Electric Power Co., Inc. ............................. 1,542 71,194 Avista Corp. ....................... 231 4,615 Cinergy Corp. ...................... 770 26,912 CMS Energy Corp. ................... 583 16,237 Conectiv, Inc. ..................... 429 9,266 Consolidated Edison, Inc. .......... 1,014 40,357 Constellation Energy Group, Inc. ... 726 30,928 Dominion Resources, Inc. ........... 1,126 67,706 DTE Energy Co. ..................... 774 35,945 Duke Energy Corp. .................. 3,606 140,670 Edison International................ 1,564 17,439 Entergy Corp. ...................... 1,078 41,384 Exelon Corp. ....................... 1,458 93,487 FirstEnergy Corp. .................. 1,043 33,543 FPL Group, Inc. .................... 821 49,432 GPU, Inc. .......................... 574 20,176 Mirant Corp. (a).................... 1,600 55,040 Niagara Mohawk Holdings, Inc. (a)... 761 13,462 Northeast Utilities................. 733 15,210 OGE Energy Corp. ................... 300 6,783 PG&E Corp. ......................... 1,841 20,619 Pinnacle West Capital Corp. ........ 400 18,960 PPL Corp. .......................... 684 37,620 Progress Energy, Inc. .............. 977 43,887 Public Service Enterprise Group, Inc. ............................. 970 47,433 Puget Energy, Inc. ................. 400 10,480 Reliant Energy, Inc. ............... 1,410 45,416 SCANA Corp. ........................ 500 14,200 The Southern Co. ................... 3,227 75,028 TXU Corp. .......................... 1,194 57,539 UtiliCorp United, Inc. ............. 524 16,008 Wisconsin Energy Corp. ............. 500 11,885 Xcel Energy, Inc. .................. 1,630 46,373 ----------- 1,291,982 ----------- ELECTRICAL EQUIPMENT -- 5.3% Cooper Industries, Inc. ............ 451 17,855 Emerson Electric Co. ............... 2,006 121,363 General Electric Co. ............... 46,465 2,265,169 Rockwell International Corp. ....... 891 33,965 Sanmina Corp. (a)................... 1,500 35,115
See accompanying notes to financial statements. 43 45 FORTUNE 500(R) INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- Sci Systems, Inc. (a)............... 704 $ 17,952 Solectron Corp. (a)................. 3,051 55,833 ----------- 2,547,252 ----------- ELECTRONICS (COMPONENT DISTRIBUTION) -- 0.1% Arrow Electronics, Inc. (a)......... 473 11,489 Avnet, Inc. ........................ 431 9,663 W.W. Grainger, Inc. ................ 451 18,563 ----------- 39,715 ----------- ELECTRONICS (DEFENSE) -- 0.1% Raytheon Co. ....................... 1,630 43,277 ----------- ELECTRONICS (SEMICONDUCTORS) -- 2.8% Advanced Micro Devices, Inc. (a).... 1,500 43,320 Intel Corp. ........................ 31,425 919,181 Micron Technology, Inc. (a)......... 2,809 115,450 Texas Instruments, Inc. ............ 8,166 257,229 ----------- 1,335,180 ----------- ENGINEERING & CONSTRUCTION -- 0.1% Fluor Corp. ........................ 363 16,389 Foster Wheeler Ltd. ................ 198 1,792 Jacobs Engineering Group, Inc. (a)............................... 100 6,523 ----------- 24,704 ----------- ENTERTAINMENT -- 3.8% AOL Time Warner, Inc. (a)........... 20,725 1,098,425 The Walt Disney Co. ................ 9,716 280,695 Viacom, Inc. (Class B) (a).......... 8,344 431,802 ----------- 1,810,922 ----------- EQUIPMENT (SEMICONDUCTORS) -- 0.4% Applied Materials, Inc. (a)......... 3,798 186,482 ----------- FINANCIAL (DIVERSIFIED) -- 6.2% American Express Co. ............... 6,197 240,444 Citigroup, Inc. .................... 23,523 1,242,955 Fannie Mae.......................... 4,688 399,183 Freddie Mac......................... 3,237 226,590 J.P. Morgan Chase & Co. ............ 9,326 415,940 Morgan Stanley Dean Witter & Co. ... 5,225 335,602 State Street Corp. ................. 1,562 77,303 USA Education, Inc. ................ 761 55,553 ----------- 2,993,570 ----------- FOODS -- 1.1% Campbell Soup Co. .................. 1,906 49,080 Conagra, Inc. ...................... 2,564 50,793 Dean Foods Co. ..................... 176 7,075 Dole Food Co., Inc. ................ 272 5,182 General Mills, Inc. ................ 1,375 60,197 H.J. Heinz Co. ..................... 1,663 68,000 Hershey Foods Corp. ................ 660 40,729 Hormel Foods Corp. ................. 682 16,600 IBP, Inc. .......................... 400 10,100 Interstate Bakeries Corp. .......... 221 3,536 Kellogg Co. ........................ 1,949 56,521 Sara Lee Corp. ..................... 3,625 68,657 Smithfield Foods, Inc. (a).......... 284 11,445
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- Suiza Foods Corp. (a)............... 132 $ 7,009 The Quaker Oats Co. ................ 638 58,217 Tyson Foods, Inc. (Class A)......... 1,089 10,030 ----------- 523,171 ----------- FOOTWEAR -- 0.1% Nike, Inc. (Class B)................ 1,289 54,125 ----------- GAMING, LOTTERY, & PARIMUTUEL -- 0.1% Harrah's Entertainment, Inc. (a).... 500 17,650 MGM Mirage, Inc. ................... 700 20,972 Park Place Entertainment Corp. (a)............................... 1,461 17,678 ----------- 56,300 ----------- HARDWARE & TOOLS -- 0.0% The Black & Decker Corp. ........... 416 16,415 ----------- HEALTH CARE (DRUGS/ PHARMACEUTICALS) -- 5.8% Eli Lilly & Co. .................... 5,280 390,720 Merck & Co., Inc. .................. 10,726 685,499 Pfizer, Inc. ....................... 29,530 1,182,676 Pharmacia Corp. .................... 6,059 278,411 Schering-Plough Corp. .............. 6,854 248,389 ----------- 2,785,695 ----------- HEALTH CARE (HOSPITAL MANAGEMENT) -- 0.4% HCA-The Healthcare Co. ............. 2,525 114,105 Tenet Healthcare Corp. ............. 1,500 77,385 ----------- 191,490 ----------- HEALTH CARE (MANAGED CARE) -- 0.5% Aetna, Inc. (a)..................... 682 17,643 CIGNA Corp. ........................ 704 67,457 Express Scripts, Inc. (Class A) (a)............................... 374 20,581 Health Net, Inc. (a)................ 594 10,336 Humana, Inc. (a).................... 785 7,732 Oxford Health Plans, Inc. (a)....... 398 11,383 PacifiCare Health Systems, Inc. (a)............................... 165 2,690 UnitedHealth Group, Inc. ........... 1,484 91,637 Wellpoint Health Networks, Inc. (a)............................... 308 29,026 ----------- 258,485 ----------- HEALTH CARE (MEDICAL PRODUCTS/SUPPLIES) -- 0.9% Baxter International, Inc. ......... 2,780 136,220 Becton Dickinson & Co. ............. 1,212 43,378 Medtronic, Inc. .................... 5,646 259,772 ----------- 439,370 ----------- HEALTH CARE (SPECIAL SERVICES) -- 0.1% HealthSouth Corp. (a)............... 1,849 29,529 Quest Diagnostics, Inc. (a)......... 400 29,940 ----------- 59,469 ----------- HEALTH CARE DIVERSIFIED -- 3.9% Abbott Laboratories................. 7,253 348,217 American Home Products Corp. ....... 6,137 358,646 Bristol-Myers Squibb Co. ........... 9,110 476,453 Johnson & Johnson................... 14,165 708,250 ----------- 1,891,566 -----------
See accompanying notes to financial statements. 44 46 FORTUNE 500(R) INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- HOMEBUILDING -- 0.1% Centex Corp. ....................... 286 $ 11,655 D.R. Horton, Inc. .................. 366 8,308 Fleetwood Enterprises, Inc. ........ 154 2,168 KB HOME............................. 249 7,512 Lennar Corp. ....................... 288 12,010 Pulte Corp. ........................ 198 8,441 ----------- 50,094 ----------- HOUSEHOLD FURNISHINGS & APPLIANCES -- 0.1% Leggett & Platt, Inc. .............. 937 20,642 Maytag Corp. ....................... 374 10,943 Whirlpool Corp. .................... 259 16,188 ----------- 47,773 ----------- HOUSEHOLD PRODUCTS (NON-DURABLE) -- 1.5% Colgate-Palmolive Co. .............. 2,627 154,967 Kimberly-Clark Corp. ............... 2,496 139,527 The Clorox Co. ..................... 1,124 38,047 The Procter & Gamble Co. ........... 6,070 387,266 ----------- 719,807 ----------- HOUSEWARES -- 0.1% Fortune Brands, Inc. ............... 768 29,460 Newell Rubbermaid, Inc. ............ 1,278 32,078 ----------- 61,538 ----------- INSURANCE BROKERS -- 0.4% Aon Corp. .......................... 1,223 42,805 Marsh & McLennan Cos., Inc. ........ 1,291 130,391 ----------- 173,196 ----------- INSURANCE (LIFE/HEALTH) -- 1.0% AFLAC, Inc. ........................ 2,459 77,434 American General Corp. ............. 2,342 108,786 Conseco, Inc. ...................... 1,564 21,348 Jefferson-Pilot Corp. .............. 700 33,824 John Hancock Financial Services, Inc. ............................. 1,439 57,934 Lincoln National Corp. ............. 915 47,351 MetLife, Inc. ...................... 3,566 110,475 UnumProvident Corp. ................ 1,166 37,452 ----------- 494,604 ----------- INSURANCE (MULTI-LINE) -- 2.2% American International Group, Inc. ............................. 10,929 939,894 Loews Corp. ........................ 928 59,791 The Hartford Financial Services Group, Inc. ...................... 1,113 76,129 ----------- 1,075,814 ----------- INSURANCE (PROPERTY/CASUALTY) -- 0.7% Allmerica Financial Corp. .......... 253 14,548 American Financial Group, Inc. ..... 300 9,090 Safeco Corp. ....................... 616 18,172 The Allstate Corp. ................. 3,396 149,390 The Chubb Corp. .................... 819 63,415 The Progressive Corp. .............. 352 47,587 The St. Paul Cos, Inc. ............. 996 50,487 ----------- 352,689 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- INVESTMENT BANKING/BROKERAGE -- 1.4% Lehman Brothers Holdings, Inc. ..... 1,175 $ 91,356 Merrill Lynch & Co., Inc. .......... 3,926 232,616 The Bear Stearns Cos., Inc. ........ 517 30,487 The Charles Schwab Corp. ........... 6,421 98,241 The Goldman Sachs Group, Inc. ...... 2,267 194,509 ----------- 647,209 ----------- LEISURE TIME (PRODUCTS) -- 0.1% Brunswick Corp. .................... 409 9,829 Hasbro, Inc. ....................... 836 12,080 Mattel, Inc. ....................... 2,048 38,748 ----------- 60,657 ----------- LODGING (HOTELS) -- 0.2% Hilton Hotels Corp. ................ 1,700 19,720 Marriott International, Inc. (Class A)................................ 1,146 54,251 Starwood Hotels & Resorts Worldwide, Inc. (Class B).................... 935 34,857 ----------- 108,828 ----------- MACHINERY (DIVERSIFIED) -- 0.4% Caterpillar, Inc. .................. 1,572 78,679 Deere & Co. ........................ 1,124 42,543 Dover Corp. ........................ 970 36,521 Ingersoll-Rand Co. ................. 781 32,177 ----------- 189,920 ----------- MANUFACTURING (DIVERSIFIED) -- 1.7% American Standard Cos., Inc. (a).... 341 20,494 Danaher Corp. ...................... 673 37,688 Eaton Corp. ........................ 320 22,432 Honeywell International, Inc. ...... 3,752 131,283 Illinois Tool Works, Inc. .......... 1,443 91,342 ITT Industries, Inc. ............... 429 18,983 Johnson Controls, Inc. ............. 418 30,292 Minnesota Mining & Manufacturing Co. (3M).............................. 1,860 212,226 Parker-Hannifin Corp. .............. 521 22,111 Textron, Inc. ...................... 693 38,143 Thermo Electron Corp. (a)........... 909 20,016 United Technologies Corp. .......... 2,204 161,465 ----------- 806,475 ----------- MANUFACTURING (SPECIALIZED) -- 0.1% Avery Dennison Corp. ............... 539 27,516 Jabil Circuit, Inc. (a)............. 900 27,774 York International Corp. ........... 187 6,549 ----------- 61,839 ----------- METALS MINING -- 0.0% Phelps Dodge Corp. ................. 385 15,978 ----------- NATURAL GAS (DISTRIBUTION/ PIPE LINE) -- 1.2% Dynegy, Inc. (Class A).............. 1,533 71,284 El Paso Corp. ...................... 2,382 125,150 Enron Corp. ........................ 3,518 172,382 KeySpan Corp. ...................... 600 21,888 Kinder Morgan, Inc. ................ 549 27,587 NiSource, Inc. ..................... 978 26,729
See accompanying notes to financial statements. 45 47 FORTUNE 500(R) INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- ONEOK, Inc. ........................ 200 $ 3,940 Sempra Energy....................... 990 27,067 The Williams Cos., Inc. ............ 2,324 76,576 Western Gas Resources, Inc. ........ 100 3,260 ----------- 555,863 ----------- OFFICE EQUIPMENT & SUPPLIES -- 0.1% Pitney Bowes, Inc. ................. 1,141 48,059 United Stationers, Inc. (a)......... 165 5,207 ----------- 53,266 ----------- OIL (DOMESTIC INTEGRATED) -- 0.6% Amerada Hess Corp. ................. 415 33,532 Conoco, Inc. (Class A).............. 2,885 83,376 Occidental Petroleum Corp. ......... 1,773 47,144 Phillips Petroleum Co. ............. 1,223 69,711 USX-Marathon Group.................. 1,507 44,472 ----------- 278,235 ----------- OIL (INTERNATIONAL INTEGRATED) -- 3.9% Chevron Corp. ...................... 3,014 272,767 Exxon Mobil Corp. .................. 16,138 1,409,654 Tesoro Petroleum Corp. (a).......... 154 1,940 Texaco, Inc. ....................... 2,553 170,030 ----------- 1,854,391 ----------- OIL & GAS (DRILLING & EQUIPMENT) -- 0.3% Baker Hughes, Inc. ................. 1,577 52,829 Halliburton Co. .................... 2,045 72,802 ----------- 125,631 ----------- OIL & GAS (EXPLORATION/PRODUCTS) -- 0.3% Anadarko Petroleum Corp. ........... 1,200 64,836 Kerr-McGee Corp. ................... 400 26,508 Murphy Oil Corp. ................... 200 14,720 Unocal Corp. ....................... 1,177 40,195 ----------- 146,259 ----------- OIL & GAS (REFINING & MARKETING) -- 0.2% Ashland, Inc. ...................... 341 13,674 Pennzoil-Quaker State Co. .......... 300 3,360 Sunoco, Inc. ....................... 418 15,311 Tosco Corp. ........................ 684 30,130 Ultramar Diamond Shamrock Corp. .... 336 15,876 Valero Energy Corp. ................ 297 10,924 ----------- 89,275 ----------- PAPER & FOREST PRODUCTS -- 0.5% Boise Cascade Corp. ................ 275 9,672 Georgia-Pacific Corp. (Timber Group)............................ 385 13,764 Georgia-Pacific Group............... 1,084 36,693 International Paper Co. ............ 2,231 79,647 Smurfit-Stone Container Corp. (a)... 1,176 19,051 The Mead Corp. ..................... 504 13,678 Westvaco Corp. ..................... 400 9,716 Weyerhaeuser Co. ................... 967 53,156 Willamette Industries, Inc. ........ 528 26,136 ----------- 261,513 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- PERSONAL CARE -- 0.5% Avon Products, Inc. ................ 1,135 $ 52,528 The Estee Lauder Cos., Inc. (Class A)................................ 1,135 48,919 The Gillette Co. ................... 4,955 143,645 ----------- 245,092 ----------- PHOTOGRAPHY/IMAGING -- 0.2% Eastman Kodak Co. .................. 1,355 63,252 Xerox Corp. ........................ 3,202 30,643 ----------- 93,895 ----------- POWER PRODUCERS (INDEPENDENT) -- 0.2% The AES Corp. (a)................... 2,467 106,204 ----------- PUBLISHING -- 0.1% The McGraw-Hill Cos., Inc. ......... 926 61,255 ----------- PUBLISHING (NEWSPAPERS) -- 0.4% Gannett Co., Inc. .................. 1,237 81,518 Knight-Ridder, Inc. ................ 372 22,060 The New York Times Co. (Class A).... 741 31,122 Tribune Co. ........................ 1,403 56,134 ----------- 190,834 ----------- RAILROADS -- 0.4% Burlington Northern Santa Fe Corp. ............................ 1,774 53,522 CSX Corp. .......................... 1,056 38,269 Norfolk Southern Corp. ............. 1,839 38,067 Union Pacific Corp. ................ 1,158 63,586 ----------- 193,444 ----------- RESTAURANTS -- 0.4% Darden Restaurants, Inc. ........... 603 16,824 McDonald's Corp. ................... 6,057 163,902 Tricon Global Restaurants, Inc. (a)............................... 695 30,511 ----------- 211,237 ----------- RETAIL (BUILDING SUPPLIES) -- 1.4% Lowe's Cos., Inc. .................. 1,801 130,663 The Home Depot, Inc. ............... 10,916 508,140 The Sherwin-Williams Co. ........... 781 17,338 ----------- 656,141 ----------- RETAIL (COMPUTERS & ELECTRONICS) -- 0.3% Best Buy Co., Inc. (a).............. 992 63,012 CDW Computer Centers, Inc. (a)...... 400 15,884 Circuit City Stores-Circuit City Group............................. 981 17,658 Radioshack Corp. ................... 882 26,901 Tech Data Corp. (a)................. 244 8,140 ----------- 131,595 ----------- RETAIL (DEPARTMENT STORES) -- 0.5% Dillards, Inc. (Class A)............ 451 6,887 Federated Department Stores, Inc. (a)............................... 919 39,058 J.C. Penney Co., Inc. .............. 1,256 33,108 Kohl's Corp. (a).................... 1,586 99,490 Nordstrom, Inc. .................... 627 11,631 Saks, Inc. (a)...................... 682 6,547 The May Department Stores Co. ...... 1,401 47,998 ----------- 244,719 ----------- RETAIL (DISCOUNTERS) -- 0.1% Big Lots, Inc. (a).................. 539 7,374
See accompanying notes to financial statements. 46 48 FORTUNE 500(R) INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- Dollar General Corp. ............... 1,575 $ 30,712 ShopKo Stores, Inc. (a)............. 143 1,041 ----------- 39,127 ----------- RETAIL (GENERAL MERCHANDISING CHAIN) -- 2.9% BJ'S Wholesale Club, Inc. (a)....... 352 18,748 Costco Wholesale Corp. (a).......... 2,146 88,158 Kmart Corp. (a)..................... 2,303 26,415 Sears, Roebuck & Co. ............... 1,576 66,681 Target Corp. ....................... 4,224 146,150 Wal-Mart Stores, Inc. .............. 20,914 1,020,603 ----------- 1,366,755 ----------- RETAIL (SPECIALTY) -- 0.3% Autonation, Inc. ................... 1,554 18,026 Autozone, Inc. (a).................. 522 19,575 Barnes & Noble, Inc. (a)............ 308 12,120 Borders Group, Inc. (a)............. 300 6,720 Office Depot, Inc. (a).............. 1,500 15,570 Sonic Automotive, Inc. (Class A) (a)............................... 209 3,992 Staples, Inc. (a)................... 2,216 35,434 Toys "R" Us, Inc. (a)............... 890 22,028 Venator Group, Inc. (a)............. 651 9,960 ----------- 143,425 ----------- RETAIL (SPECIALTY APPAREL) -- 0.4% The Gap, Inc. ...................... 3,985 115,565 The Limited, Inc. .................. 2,088 34,494 The TJX Cos., Inc. ................. 1,344 42,833 ----------- 192,892 ----------- RETAIL STORES (DRUG STORE) -- 0.6% Caremark Rx, Inc. (a)............... 1,000 16,450 CVS Corp. .......................... 1,863 71,912 Longs Drug Stores Corp. ............ 200 4,310 Rite Aid Corp. ..................... 1,500 13,500 Walgreen Co. ....................... 4,737 161,768 ----------- 267,940 ----------- RETAIL STORES (FOOD CHAINS) -- 0.6% Albertson's, Inc. .................. 1,846 55,361 Pathmark Stores, Inc. (a)........... 100 2,460 Safeway, Inc. (a)................... 2,371 113,808 The Kroger Co. (a).................. 3,773 94,325 Winn-Dixie Stores, Inc. ............ 682 17,821 ----------- 283,775 ----------- SAVINGS & LOAN COMPANIES -- 0.5% Golden State Bancorp, Inc. ......... 609 18,757 Golden West Financial Corp. ........ 700 44,968 Washington Mutual, Inc. ............ 4,138 155,382 ----------- 219,107 ----------- SERVICES (ADVERTISING/MARKETING) -- 0.3% Omnicom Group, Inc. ................ 858 73,788 The Interpublic Group of Cos., Inc. ............................. 1,755 51,509 ----------- 125,297 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- SERVICES (COMMERCIAL & CONSUMER) -- 0.2% Cendant Corp. (a)................... 4,002 $ 78,039 Pittston Brink's Group.............. 253 5,639 The Service Master Co. ............. 1,472 17,664 ----------- 101,342 ----------- SERVICES (COMPUTER SYSTEMS) -- 0.4% Computer Sciences Corp. (a)......... 814 28,164 Electronic Data Systems Corp. ...... 2,146 134,125 Ingram Micro, Inc. (Class A) (a).... 704 10,201 ----------- 172,490 ----------- SERVICES (DATA PROCESSING) -- 0.6% Automatic Data Processing, Inc. .... 2,923 145,273 First Data Corp. ................... 1,840 118,220 ----------- 263,493 ----------- SERVICES (EMPLOYMENT) -- 0.0% Administaff, Inc. (a)............... 100 2,600 Manpower, Inc. ..................... 363 10,854 Spherion Corp. (a).................. 317 2,837 ----------- 16,291 ----------- SPECIALTY PRINTING -- 0.0% R.R. Donnelley & Sons Co. .......... 574 17,048 ----------- STEEL -- 0.0% AK Steel Holding Corp. ............. 528 6,621 Nucor Corp. ........................ 314 15,352 ----------- 21,973 ----------- TELEPHONE -- 4.2% ALLTEL Corp. ....................... 1,418 86,867 BellSouth Corp. .................... 8,723 351,275 Qwest Communications International, Inc. ............................. 7,701 245,431 SBC Communications, Inc. ........... 15,790 632,547 Verizon Communications.............. 12,652 676,882 ----------- 1,993,002 ----------- TELEPHONE (LONG DISTANCE) -- 1.3% AT&T Corp. ......................... 16,055 353,210 Sprint Corp. ....................... 4,146 88,559 WorldCom, Inc. (a).................. 13,461 191,146 ----------- 632,915 ----------- TEXTILES (APPAREL) -- 0.1% Jones Apparel Group, Inc. (a)....... 563 24,322 V. F. Corp. ........................ 550 20,009 ----------- 44,331 ----------- TEXTILES (HOME FURNISHINGS) -- 0.0% Mohawk Industries, Inc. (a)......... 253 8,906 ----------- TOBACCO -- 1.2% Philip Morris Cos., Inc. ........... 10,330 524,247 R.J. Reynolds Tobacco Holdings, Inc. ............................. 495 27,027 ----------- 551,274 ----------- TRUCKERS -- 0.7% CNF Transportation, Inc. ........... 231 6,526 Ryder Systems, Inc. ................ 286 5,606
See accompanying notes to financial statements. 47 49 FORTUNE 500(R) INDEX FUND SCHEDULE OF INVESTMENTS (CONTINUED) JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- United Parcel Service, Inc. (Class B)................................ 5,268 $ 304,490 Yellow Corp. (a).................... 130 2,467 ----------- 319,089 ----------- TRUCKS & PARTS -- 0.1% Cummins Engine Co., Inc. ........... 198 7,663 Navistar International Corp. (a).... 286 8,045 Paccar, Inc. ....................... 374 19,231 ----------- 34,939 ----------- WASTE MANAGEMENT -- 0.2% Allied Waste Industries, Inc. (a)... 937 17,503 Waste Management, Inc. ............. 2,993 92,244 ----------- 109,747 ----------- TOTAL COMMON STOCKS -- (Cost $52,419,503)................ 47,883,294 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- MONEY MARKET FUND -- 0.0% AIM Short Term Investment Class Prime Fund (Cost $11,599)......... 11,599 $ 11,599 ----------- TOTAL INVESTMENTS -- 99.9% (Cost $52,431,102)................ 47,894,893 OTHER ASSETS AND LIABILITIES -- 0.1%............... 38,148 ----------- NET ASSETS -- 100.0%................ $47,933,041 ===========
(a) Non-income producing security See accompanying notes to financial statements. 48 50 FORTUNE e-50(TM) INDEX FUND SCHEDULE OF INVESTMENTS JUNE 30, 2001 - --------------------------------------------------------------------------------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- COMMON STOCKS -- 99.9% COMMUNICATIONS EQUIPMENT -- 5.6% Corning, Inc........................... 17,968 $ 300,245 JDS Uniphase Corp. (a)................. 23,374 292,175 Lucent Technologies, Inc............... 16,094 99,783 QUALCOMM, Inc. (a)..................... 3,610 211,113 ----------- 903,316 ----------- COMPUTERS (HARDWARE) -- 10.5% Dell Computer Corp. (a)................ 18,678 488,430 International Business Machines Corp. (IBM)................................ 5,587 631,331 Juniper Networks, Inc. (a)............. 6,455 200,750 Sun Microsystems, Inc. (a)............. 23,476 369,043 ----------- 1,689,554 ----------- COMPUTERS (NETWORKING) -- 7.0% Cisco Systems, Inc. (a)................ 55,593 1,011,792 Network Appliance, Inc. (a)............ 8,707 119,286 ----------- 1,131,078 ----------- COMPUTERS (PERIPHERALS) -- 1.5% EMC Corp............................... 8,437 245,095 ----------- COMPUTER SOFTWARE/SERVICES -- 40.8% Ariba, Inc. (a)........................ 10,482 57,651 BEA Systems, Inc. (a).................. 8,847 271,691 Broadvision, Inc. (a).................. 17,251 86,255 Citrix Systems, Inc. (a)............... 6,542 228,316 CNET Networks, Inc. (a)................ 11,432 148,616 Earthlink, Inc. (a).................... 10,833 152,745 eBay, Inc. (a)......................... 6,585 451,007 Exodus Communications, Inc. (a)........ 14,915 30,725 HomeStore.com, Inc. (a)................ 4,864 170,045 Inktomi Corp. (a)...................... 11,900 114,121 Intuit, Inc. (a)....................... 2,568 102,694 Macromedia, Inc. (a)................... 5,028 90,504 Microsoft Corp. (a).................... 21,137 1,543,001 Networks Assocs, Inc. (a).............. 13,033 162,261 Openwave Systems, Inc. (a)............. 5,034 174,680 Oracle Corp. (a)....................... 60,091 1,141,729 RealNetworks, Inc. (a)................. 14,821 174,147 S1 Corp. (a)........................... 13,813 193,382 Siebel Systems, Inc. (a)............... 10,272 481,757 TIBCO Software, Inc. (a)............... 11,989 153,099 VeriSign, Inc. (a)..................... 5,139 308,391 WebMD Corp. (a)........................ 11,161 78,127 Yahoo!, Inc. (a)....................... 13,944 278,741 ----------- 6,593,685 -----------
SECURITY DESCRIPTION SHARES VALUE - -------------------- ------ ----- ELECTRONICS (SEMICONDUCTORS) -- 8.4% Broadcom Corp. (Class A) (a)........... 6,242 $ 266,908 Intel Corp............................. 37,440 1,095,120 ----------- 1,362,028 ----------- ENTERTAINMENT -- 9.2% AOL Time Warner, Inc. (a).............. 28,091 1,488,823 ----------- INVESTMENT BANKING/BROKERAGE -- 3.4% Ameritrade Holding Corp. (Class A) (a).................................. 14,771 117,577 E*Trade Group, Inc. (a)................ 14,633 94,383 Knight Trading Group, Inc. (a)......... 6,274 67,069 The Charles Schwab Corp................ 18,086 276,716 ----------- 555,745 ----------- RETAIL (HOME SHOPPING) -- 1.2% Amazon.com, Inc. (a)................... 13,332 188,648 ----------- SERVICES (ADVERTISING/MARKETING) -- 2.8% DoubleClick, Inc. (a).................. 9,595 133,946 TMP Worldwide, Inc. (a)................ 5,281 316,860 ----------- 450,806 ----------- SERVICES (COMMERCIAL & CONSUMER) -- 0.7% FreeMarkets, Inc. (a).................. 5,806 116,120 ----------- TELEPHONE -- 4.2% Qwest Communications International, Inc.................................. 7,023 223,823 SBC Communications, Inc................ 11,410 457,085 ----------- 680,908 ----------- TELEPHONE (LONG DISTANCE) -- 4.6% AT&T Corp.............................. 12,812 281,864 Global Crossing Ltd. (a)............... 15,874 137,151 WorldCom, Inc. (a)..................... 22,347 317,328 ----------- 736,343 ----------- TOTAL COMMON STOCKS -- (Cost $16,798,702)................... 16,142,149 ----------- MONEY MARKET FUND -- 0.0% AIM Short Term Investment Class Prime Fund (Cost $158)..................... 158 158 ----------- TOTAL INVESTMENTS -- 99.9% (Cost $16,798,860)................... 16,142,307 OTHER ASSETS AND LIABILITIES -- 0.1%... 15,699 ----------- NET ASSETS -- 100.0%................... $16,158,006 ===========
(a) Non-income producing security See accompanying notes to financial statements. 49 51 STREETTRACKS SERIES TRUST STATEMENTS OF ASSETS AND LIABILITIES JUNE 30, 2001 - --------------------------------------------------------------------------------
DOW JONES U.S. DOW JONES U.S. DOW JONES U.S. LARGE CAP GROWTH LARGE CAP SMALL CAP GROWTH INDEX FUND VALUE INDEX FUND INDEX FUND ---------------- ---------------- ---------------- ASSETS Investments in securities, at value (Note 2)............. $24,298,858 $38,802,397 $19,705,775 Cash..................................................... 31,233 -- 46,087 Foreign currency......................................... -- -- -- Receivable for investments sold.......................... -- 22,868 76,353 Dividends receivable (Note 2)............................ 4,415 40,808 510 ----------- ----------- ----------- TOTAL ASSETS...................................... 24,334,506 38,866,073 19,828,725 ----------- ----------- ----------- LIABILITIES Due to custodian......................................... -- 12,012 -- Payable for investments purchased........................ -- 4,409 31,738 Accrued advisory fee (Note 3)............................ 4,060 6,531 1,890 Accrued trustees fee (Note 3)............................ 685 685 685 ----------- ----------- ----------- TOTAL LIABILITIES................................. 4,745 23,637 34,313 ----------- ----------- ----------- NET ASSETS........................................ $24,329,761 $38,842,436 $19,794,412 =========== =========== =========== NET ASSETS REPRESENTED BY: Paid in capital (Note 4)................................. $38,465,298 $39,649,885 $21,669,929 Undistributed (distribution in excess of) net investment income................................................. -- 6,900 -- Accumulated net realized gain (loss) on investments and foreign currency transactions.......................... (4,363,759) (410,832) (1,944,380) Net unrealized appreciation (depreciation) on: Investments............................................ (9,771,778) (403,517) 68,863 Foreign currency....................................... -- -- -- ----------- ----------- ----------- NET ASSETS........................................ $24,329,761 $38,842,436 $19,794,412 =========== =========== =========== NET ASSET VALUE PER STREETTRACKS SHARE Net asset value per streetTRACKS share................... $ 60.81 $ 129.44 $ 79.15 =========== =========== =========== Shares outstanding (unlimited amount authorized, $0.01 par value)............................................. 400,103 300,077 250,100 =========== =========== =========== Investments in securities, at cost....................... $34,070,636 $39,205,914 $19,636,912 =========== =========== =========== Foreign currency, at cost................................ $ -- $ -- $ -- =========== =========== ===========
See accompanying notes to financial statements. 50 52 - --------------------------------------------------------------------------------
DOW JONES U.S. DOW JONES WILSHIRE MORGAN STANLEY MORGAN STANLEY FORTUNE FORTUNE SMALL CAP GLOBAL TITANS REIT HIGH TECH 35 INTERNET 500(R) E-50(TM) VALUE INDEX FUND INDEX FUND INDEX FUND INDEX FUND INDEX FUND INDEX FUND INDEX FUND ---------------- ------------- ----------- -------------- -------------- ----------- ----------- $25,727,022 $21,143,179 $18,005,017 $ 72,716,899 $ 6,769,014 $47,894,893 $16,142,307 42,378 20,689 15,722 11,028 11,569 9,855 18,492 -- 12,218 -- -- -- -- -- -- -- -- -- -- -- -- 39,796 21,995 103,755 24,723 -- 36,937 481 ----------- ----------- ----------- ------------ ------------ ----------- ----------- 25,809,196 21,198,081 18,124,494 72,752,650 6,780,583 47,941,685 16,161,280 ----------- ----------- ----------- ------------ ------------ ----------- ----------- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 5,252 8,865 3,630 28,438 2,731 7,991 2,622 685 685 251 685 685 653 652 ----------- ----------- ----------- ------------ ------------ ----------- ----------- 5,937 9,550 3,881 29,123 3,416 8,644 3,274 ----------- ----------- ----------- ------------ ------------ ----------- ----------- $25,803,259 $21,188,531 $18,120,613 $ 72,723,527 $ 6,777,167 $47,933,041 $16,158,006 =========== =========== =========== ============ ============ =========== =========== $20,852,917 $25,449,555 $16,392,700 $110,807,867 $ 23,450,198 $52,776,052 $19,458,042 17,718 -- 101,345 -- -- 6,222 -- (922,190) 9,175 (2,447,666) (12,711,598) (313,024) (2,643,483) 833,611 (3,338,714) 1,617,393 (35,636,674) (3,961,433) (4,536,209) (656,553) 4,099,013 -- (120) -- -- -- -- -- ----------- ----------- ----------- ------------ ------------ ----------- ----------- $25,803,259 $21,188,531 $18,120,613 $ 72,723,527 $ 6,777,167 $47,933,041 $16,158,006 =========== =========== =========== ============ ============ =========== =========== $ 128.95 $ 70.60 $ 120.73 $ 58.17 $ 19.36 $ 87.13 $ 40.38 =========== =========== =========== ============ ============ =========== =========== 300,119 150,092 1,250,102 350,145 550,102 400,118 200,096 =========== =========== =========== ============ ============ =========== =========== $21,628,009 $24,481,893 $16,387,624 $108,353,573 $ 10,730,447 $52,431,102 $16,798,860 =========== =========== =========== ============ ============ =========== =========== $ -- $ 12,202 $ -- $ -- $ -- $ -- $ -- =========== =========== =========== ============ ============ =========== ===========
51 53 STREETTRACKS SERIES TRUST STATEMENTS OF OPERATIONS FOR THE PERIOD ENDED JUNE 30, 2001 - --------------------------------------------------------------------------------
DOW JONES U.S. DOW JONES U.S. DOW JONES U.S. LARGE CAP GROWTH LARGE CAP SMALL CAP GROWTH INDEX FUND* VALUE INDEX FUND* INDEX FUND* ---------------- ----------------- ---------------- INVESTMENT INCOME Dividend Income (Note 2)................................ $ 70,050 $ 643,320 $ 7,698 Foreign taxes withheld.................................. -- -- -- ------------ --------- ----------- TOTAL INVESTMENT INCOME................................. 70,050 643,320 7,698 ------------ --------- ----------- EXPENSES Advisory fee (Note 3)................................... 42,706 69,635 24,847 Trustees fee (Note 3)................................... 4,878 4,878 4,878 ------------ --------- ----------- NET EXPENSES............................................ 47,584 74,513 29,725 ------------ --------- ----------- NET INVESTMENT INCOME (LOSS)............................ 22,466 568,807 (22,027) ------------ --------- ----------- REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS Net realized gain (loss) on: Investments........................................... (4,363,759) (48,716) (4,631,577) Foreign currency transactions......................... -- -- -- Net change in unrealized appreciation (depreciation) on: Investments........................................... (9,771,778) (403,517) 68,863 Foreign currency...................................... -- -- -- ------------ --------- ----------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY................. (14,135,537) (452,233) (4,562,714) ------------ --------- ----------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS.............................................. $(14,113,071) $ 116,574 $(4,584,741) ============ ========= ===========
* Commenced operations on September 25, 2000 ** Commenced operations on October 4, 2000 *** Commenced operations on April 23, 2001 See accompanying notes to financial statements. 52 54 - --------------------------------------------------------------------------------
DOW JONES U.S. DOW JONES WILSHIRE MORGAN STANLEY MORGAN STANLEY FORTUNE FORTUNE SMALL CAP GLOBAL TITANS REIT HIGH TECH 35 INTERNET 500(R) E-50(TM) VALUE INDEX FUND* INDEX FUND* INDEX FUND*** INDEX FUND* INDEX FUND* INDEX FUND** INDEX FUND** ----------------- ------------- ------------- -------------- -------------- ------------ ------------ $ 528,245 $ 303,271 $ 221,136 $ 113,300 $ 1,543 $ 590,637 $ 16,789 (325) (12,845) -- (789) -- -- -- ---------- ----------- ---------- ------------ ------------ ----------- ------------ 527,920 290,426 221,136 112,511 1,543 590,637 16,789 ---------- ----------- ---------- ------------ ------------ ----------- ------------ 43,686 103,563 7,684 275,853 71,728 91,270 49,583 4,878 4,878 1,887 4,878 4,878 4,845 4,845 ---------- ----------- ---------- ------------ ------------ ----------- ------------ 48,564 108,441 9,571 280,731 76,606 96,115 54,428 ---------- ----------- ---------- ------------ ------------ ----------- ------------ 479,356 181,985 211,565 (168,220) (75,063) 494,522 (37,639) ---------- ----------- ---------- ------------ ------------ ----------- ------------ 823,341 (2,231,681) 9,175 (4,822,273) (32,755,692) (1,263,981) (23,710,339) -- (3,112) -- -- -- -- -- 4,099,013 (3,338,714) 1,617,393 (35,636,674) (3,961,433) (4,536,209) (656,553) -- (120) -- -- -- -- -- ---------- ----------- ---------- ------------ ------------ ----------- ------------ (5,573,627) 1,626,568 (40,458,947) (36,717,125) (5,800,190) (24,366,892) 4,922,354 ---------- ----------- ---------- ------------ ------------ ----------- ------------ 5,401,710 $(5,391,642) $1,838,133 $(40,627,167) $(36,792,188) $(5,305,668) $(24,404,531) $ ========== =========== ========== ============ ============ =========== ============
53 55 STREETTRACKS SERIES TRUST STATEMENTS OF CHANGES IN NET ASSETS - --------------------------------------------------------------------------------
DOW JONES U.S. DOW JONES U.S. DOW JONES U.S. LARGE CAP GROWTH LARGE CAP SMALL CAP GROWTH INDEX FUND VALUE INDEX FUND INDEX FUND -------------------- -------------------- -------------------- FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD 9/25/2000*-6/30/2001 9/25/2000*-6/30/2001 9/25/2000*-6/30/2001 -------------------- -------------------- -------------------- INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: Net investment income (loss).............................. $ 22,466 $ 568,807 $ (22,027) Net realized gain (loss) on investments and foreign currency transactions................................... (4,363,759) (48,716) (4,631,577) Net change in unrealized appreciation (depreciation) on investments and foreign currency........................ (9,771,778) (403,517) 68,863 ------------ ------------ ----------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS.............................................. (14,113,071) 116,574 (4,584,741) ------------ ------------ ----------- DISTRIBUTIONS TO SHAREHOLDERS FROM: Net investment income..................................... (22,466) (561,907) -- In excess of net investment income........................ (969) -- -- Capital................................................... -- -- -- ------------ ------------ ----------- TOTAL DISTRIBUTIONS TO SHAREHOLDERS....................... (23,435) (561,907) -- ------------ ------------ ----------- streetTRACKS TRANSACTIONS: Net proceeds from streetTRACKS sold....................... 38,466,267 72,053,449 31,085,966 Cost of streetTRACKS redeemed............................. -- (32,765,680) (6,706,813) ------------ ------------ ----------- NET INCREASE IN NET ASSETS FROM streetTRACKS TRANSACTIONS... 38,466,267 39,287,769 24,379,153 ------------ ------------ ----------- Net increase in net assets during period.................. 24,329,761 38,842,436 19,794,412 Net assets at beginning of period......................... -- -- -- ------------ ------------ ----------- NET ASSETS END OF PERIOD (1)................................ $ 24,329,761 $ 38,842,436 $19,794,412 ============ ============ =========== SHARES OF BENEFICIAL INTEREST: streetTRACKS sold......................................... 400,103 550,077 350,100 streetTRACKS redeemed..................................... -- (250,000) (100,000) ------------ ------------ ----------- NET INCREASE................................................ 400,103 300,077 250,100 ============ ============ =========== (1) Including undistributed (distribution in excess of) net investment income..................................... $ -- $ 6,900 $ -- ============ ============ ===========
* Commencement of operations See accompanying notes to financial statements. 54 56 - --------------------------------------------------------------------------------
DOW JONES U.S. DOW JONES WILSHIRE MORGAN STANLEY MORGAN STANLEY SMALL CAP GLOBAL TITANS REIT HIGH TECH 35 INTERNET VALUE INDEX FUND INDEX FUND INDEX FUND INDEX FUND INDEX FUND -------------------- -------------------- -------------------- -------------------- -------------------- FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD 9/25/2000*-6/30/2001 9/25/2000*-6/30/2001 4/23/2001*-6/30/2001 9/25/2000*-6/30/2001 9/25/2000*-6/30/2001 -------------------- -------------------- -------------------- -------------------- -------------------- $ 479,356 $ 181,985 $ 211,565 $ (168,220) $ (75,063) 823,341 (2,234,793) 9,175 (4,822,273) (32,755,692) 4,099,013 (3,338,834) 1,617,393 (35,636,674) (3,961,433) ----------- ----------- ----------- ------------ ------------ 5,401,710 (5,391,642) 1,838,133 (40,627,167) (36,792,188) ----------- ----------- ----------- ------------ ------------ (451,368) (178,873) (110,220) -- -- -- -- -- -- -- -- (7,048) -- -- -- ----------- ----------- ----------- ------------ ------------ (451,368) (185,921) (110,220) -- -- ----------- ----------- ----------- ------------ ------------ 20,852,917 33,683,326 16,392,700 134,025,659 68,751,993 -- (6,917,232) -- (20,674,965) (25,182,638) ----------- ----------- ----------- ------------ ------------ 20,852,917 26,766,094 16,392,700 113,350,694 43,569,355 ----------- ----------- ----------- ------------ ------------ 25,803,259 21,188,531 18,120,613 72,723,527 6,777,167 -- -- -- -- -- ----------- ----------- ----------- ------------ ------------ $25,803,259 $21,188,531 $18,120,613 $ 72,723,527 $ 6,777,167 =========== =========== =========== ============ ============ 200,096 400,119 150,092 1,500,102 1,350,145 -- (100,000) -- (250,000) (1,000,000) ----------- ----------- ----------- ------------ ------------ 200,096 300,119 150,092 1,250,102 350,145 =========== =========== =========== ============ ============ $ 17,718 $ -- $ 101,345 $ -- $ -- =========== =========== =========== ============ ============ FORTUNE FORTUNE 500(R) E-50(TM) INDEX FUND INDEX FUND -------------------- -------------------- FOR THE PERIOD FOR THE PERIOD 10/4/2000*-6/30/2001 10/4/2000*-6/30/2001 -------------------- -------------------- $ 494,522 $ (37,639) (1,263,981) (23,710,339) (4,536,209) (656,553) ------------ ------------ (5,305,668) (24,404,531) ------------ ------------ (488,300) -- -- -- -- -- ------------ ------------ (488,300) -- ------------ ------------ 127,125,636 90,209,770 (73,398,627) (49,647,233) ------------ ------------ 53,727,009 40,562,537 ------------ ------------ 47,933,041 16,158,006 -- -- ------------ ------------ $ 47,933,041 $ 16,158,006 ============ ============ 1,350,102 1,350,118 (800,000) (950,000) ------------ ------------ 550,102 400,118 ============ ============ $ 6,222 $ -- ============ ============
55 57 STREETTRACKS SERIES TRUST FINANCIAL HIGHLIGHTS SELECTED DATA FOR A STREETTRACKS SHARE OUTSTANDING THROUGHOUT EACH PERIOD - --------------------------------------------------------------------------------
DOW JONES U.S. DOW JONES U.S. DOW JONES U.S. DOW JONES U.S. LARGE CAP GROWTH LARGE CAP SMALL CAP GROWTH SMALL CAP INDEX FUND VALUE INDEX FUND INDEX FUND VALUE INDEX FUND ---------------- ---------------- ---------------- ---------------- FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD 9/25/2000*- 9/25/2000*- 9/25/2000*- 9/25/2000*- 6/30/2001 6/30/2001 6/30/2001 6/30/2001 ---------------- ---------------- ---------------- ---------------- Net asset value, beginning of period (Note 7).............................. $ 97.36 $129.48 $100.26 $103.71 ------- ------- ------- ------- Income (loss) from investment operations: Net investment income (loss)............ 0.06 1.70 (0.09) 2.40 Net realized and unrealized gain (loss)................................ (36.55) (0.06) (21.02) 25.10 ------- ------- ------- ------- Total from investment operations........ (36.49) 1.64 (21.11) 27.50 ------- ------- ------- ------- Distributions to shareholders from: Net investment income................... (0.06) (1.68) -- (2.26) In excess of net investment income...... --(#) -- -- -- Capital................................. -- -- -- -- ------- ------- ------- ------- Total distributions..................... (0.06) (1.68) -- (2.26) ------- ------- ------- ------- Net asset value, end of period.......... $ 60.81 $129.44 $ 79.15 $128.95 ======= ======= ======= ======= Total return (1)........................ (37.48)% 1.28% (21.07)% 26.69% Net assets, end of period (in 000's).... $24,330 $38,842 $19,794 $25,803 Ratio of expenses to average net assets (2)................................... 0.22% 0.21% 0.30% 0.28% Ratio of net investment income (loss) to average net assets (2)................ 0.10% 1.61% (0.22)% 2.70% Portfolio turnover rate (3)............. 16% 12% 34% 47%
* Commencement of operations. (#) Amount is less than $0.01 per share. (1) Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. (2) Annualized. (3) Portfolio Turnover rate excludes securities received or delivered from processing of creations or redemptions on streetTRACKS.
See accompanying notes to financial statements. 56 58 - --------------------------------------------------------------------------------
DOW JONES WILSHIRE MORGAN STANLEY MORGAN STANLEY FORTUNE FORTUNE GLOBAL TITANS REIT HIGH TECH 35 INTERNET 500(R) E-50(TM) INDEX FUND INDEX FUND INDEX FUND INDEX FUND INDEX FUND INDEX FUND -------------- -------------- -------------- -------------- -------------- -------------- FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD 9/25/2000*- 4/23/2001*- 9/25/2000*- 9/25/2000*- 10/4/2000*- 10/4/2000*- 6/30/2001 6/30/2001 6/30/2001 6/30/2001 6/30/2001 6/30/2001 -------------- -------------- -------------- -------------- -------------- -------------- $ 84.28 $109.22 $ 97.81 $ 68.92 $ 97.85 $ 84.48 ------- ------- ------- ------- ------- ------- 0.57 1.41 (0.13) (0.21) 0.72 (0.09) (13.67) 10.83 (39.51) (49.35) (10.73) (44.01) ------- ------- ------- ------- ------- ------- (13.10) 12.24 (39.64) (49.56) (10.01) (44.10) ------- ------- ------- ------- ------- ------- (0.56) (0.73) -- -- (0.71) -- -- -- -- -- -- -- (0.02) -- -- -- -- -- ------- ------- ------- ------- ------- ------- (0.58) (0.73) -- -- (0.71) -- ------- ------- ------- ------- ------- ------- $ 70.60 $120.73 $ 58.17 $ 19.36 $ 87.13 $ 40.38 ======= ======= ======= ======= ======= ======= (15.54)% 11.22% (40.52)% (71.92)% (10.22)% (52.20)% $21,189 $18,121 $72,724 $ 6,777 $47,933 $16,158 0.52% 0.32% 0.51% 0.53% 0.21% 0.22% % 0.87 6.88% (0.30)% (0.52)% 1.06% (0.15)% 16% 2% 26% 76% 6% 30%
57 59 STREETTRACKS SERIES TRUST NOTES TO FINANCIAL STATEMENTS JUNE 30, 2001 - -------------------------------------------------------------------------------- 1. ORGANIZATION The streetTRACKS Series Trust (the "Trust"), which is registered under the Investment Company Act of 1940, as amended, is an open-end investment management company that was organized as a Massachusetts business trust on June 12, 1998. The Trust currently consists of ten portfolios, (each referred to as a "Fund", collectively as "the Funds") streetTRACKS Dow Jones U.S. Large Cap Growth Index Fund ("Dow Jones U.S. Large Cap Growth Index Fund"), streetTRACKS Dow Jones U.S. Large Cap Value Index Fund ("Dow Jones U.S. Large Cap Value Index Fund"), streetTRACKS Dow Jones U.S. Small Cap Growth Index Fund ("Dow Jones U.S. Small Cap Growth Index Fund"), streetTRACKS Dow Jones U.S. Small Cap Value Index Fund ("Dow Jones U.S. Small Cap Value Index Fund"), streetTRACKS Dow Jones Global Titans Index Fund ("Dow Jones Global Titans Index Fund"), streetTRACKS Wilshire REIT Index Fund ("Wilshire REIT Index Fund"), streetTRACKS Morgan Stanley High Tech 35 Index Fund ("Morgan Stanley High Tech 35 Index Fund"), streetTRACKS Morgan Stanley Internet Index Fund ("Morgan Stanley Internet Index Fund"), FORTUNE 500(R) Index Fund and FORTUNE e-50(TM) Index Fund, each of which represents a separate series of beneficial interest in the Trust. 2. SIGNIFICANT ACCOUNTING POLICIES The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements: The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. In November 2000 the American Institute of Certified Public Accountants (AICPA) issued a revised version of the AICPA Audit and Accounting Guide for Investment Companies (the "Guide"). The Funds have adopted the provisions of the Guide, which is effective for annual financial statements issued for fiscal years beginning after December 15, 2000. The Guide will require investment companies to amortize premiums and discounts on debt securities. The adoption of the Guide did not have any material effect on the financial statements. SECURITY VALUATION Portfolio securities are valued based on the last sale price on the exchange which is deemed to be the principal market for the security. Securities regularly traded in an over-the-counter market are valued at the latest quoted sale price in such market. Other portfolio securities and assets for which market quotations are not readily available are valued based on fair value as determined in good faith by the Advisor in accordance with procedures approved by the Board of Trustees. INVESTMENT INCOME Dividend income is recorded on the ex-dividend date. Interest income is recorded on the accrual basis. INVESTMENT TRANSACTIONS Investment transactions are recorded on the trade date. Realized gains and losses from the sale or disposition of securities are recorded on the identified cost basis. Corporate actions (including cash dividends) are recorded net of nonreclaimable foreign tax withholdings. FOREIGN CURRENCY TRANSLATION AND FOREIGN INVESTMENTS The accounting records of the Funds are maintained in U.S. dollars. Portfolio securities and other assets and liabilities denominated in a foreign currency are translated to U.S. dollars at the prevailing rates of exchange at period end. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars at the prevailing exchange rate on the respective dates of transactions. The effects of changes in foreign currency exchange rates on portfolio investments are included in the net realized and unrealized gains and losses on investments. Net gains and losses on foreign currency transactions include disposition of foreign currencies, and currency gains and 58 60 STREETTRACKS SERIES TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2001 - -------------------------------------------------------------------------------- FOREIGN CURRENCY TRANSLATION AND FOREIGN INVESTMENTS -- (CONTINUED) losses between the accrual and receipt dates of portfolio investment income and between the trade and settlement dates of portfolio investment transactions. Investing in securities of foreign companies and foreign governments involves special risks and considerations not typically associated with investing in U.S. companies and securities of the U.S. Government. These risks include revaluation of currencies and the risk of appropriation. Moreover, the markets for securities of many foreign companies and foreign governments may be less liquid and the prices of such securities may be more volatile than those of comparable U.S. companies and the U.S. Government. EXPENSES Advisory fees, which are directly identifiable to a specific Fund, are applied to that Fund. Trustees fees are allocated in such a manner as deemed equitable, taking into consideration the relative net assets of the Funds. FEDERAL INCOME TAX Each Fund intends to qualify for and elect treatment as a "regulated investment company" under Subchapter M of the Internal Revenue Code of 1986, as amended. By so qualifying and electing, each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. In addition, by distributing during each calendar year substantially all of their net investment income and capital gains, if any, the Funds will not be subject to Federal excise tax. Income and capital gain distributions are determined in accordance with income tax regulations which may differ from generally accepted accounting principles. These book-tax differences are primarily due to differing treatments for in-kind transactions and losses deferred due to wash sales. At June 30, 2001, the Funds had capital loss carryforwards which may be utilized to offset any net realized capital gains through June 30, 2009 as follows:
CAPITAL LOSS YEAR EXPIRATION CARRYFORWARD INCURRED DATE - ------------------------------------------------------------------------------------------------------------------------ Dow Jones U.S. Large Cap Growth Index Fund $12,048 6/30/01 6/30/09 Dow Jones U.S. Large Cap Value Index Fund -- -- -- Dow Jones U.S. Small Cap Growth Index Fund 83,119 6/30/01 6/30/09 Dow Jones U.S. Small Cap Value Index Fund -- -- -- Dow Jones Global Titans Index Fund 12,170 6/30/01 6/30/09 Wilshire REIT Index Fund -- -- -- Morgan Stanley High Tech 35 Index Fund 1,836 6/30/01 6/30/09 Morgan Stanley Internet Index Fund 11,495 6/30/01 6/30/09 FORTUNE 500(R) Index Fund -- -- -- FORTUNE e-50(TM) Index Fund 71,566 6/30/01 6/30/09
During the fiscal period ended June 30, 2001, the Funds reclassified non-taxable security gains and losses realized on the in-kind redemption of Creation Units (Note 4) as an increase or decrease to paid in capital in the Statements of Assets and Liabilities as follows:
NET GAIN (LOSS) RECLASS AMOUNT - ---------------------------------------------------------------------------- Dow Jones U.S. Large Cap Growth Index Fund $ -- Dow Jones U.S. Large Cap Value Index Fund 382,237 Dow Jones U.S. Small Cap Growth Index Fund (2,651,147) Dow Jones U.S. Small Cap Value Index Fund -- Dow Jones Global Titans Index Fund (1,308,912) Wilshire REIT Index Fund -- Morgan Stanley High Tech 35 Index Fund (2,374,607) Morgan Stanley Internet Index Fund (19,686,317) FORTUNE 500(R) Index Fund (846,016) FORTUNE e-50(TM) Index Fund (20,653,061)
59 61 STREETTRACKS SERIES TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2001 - -------------------------------------------------------------------------------- The Funds incurred the following losses during the period November 1, 2000 through June 30, 2001 that are deferred for tax purposes until fiscal year 2002:
DEFERRED LOSSES - ---------------------------------------------------------------------------- Dow Jones U.S. Large Cap Growth Index Fund $ 3,295,383 Dow Jones U.S. Large Cap Value Index Fund 156,841 Dow Jones U.S. Small Cap Growth Index Fund 1,388,526 Dow Jones U.S. Small Cap Value Index Fund -- Dow Jones Global Titans Index Fund 888,169 Wilshire REIT Index Fund -- Morgan Stanley High Tech 35 Index Fund 2,311,656 Morgan Stanley Internet Index Fund 12,059,436 FORTUNE 500(R) Index Fund 277,910 FORTUNE e-50(TM) Index Fund 2,054,363
DISTRIBUTIONS The Trust declares and distributes dividends from net investment income to its shareholders quarterly. The Trust will distribute net realized capital gains, if any, at least annually. 3. FEES AND COMPENSATION PAID TO AFFILIATES AND OTHER PARTIES ADVISORY FEE Each Fund has entered into an Investment Advisory Agreement with State Street Global Advisors ("The Adviser"). As compensation for the services rendered, facilities furnished, and expenses borne by the Adviser, each Fund pays the Adviser a fee accrued daily and paid monthly, based on a percentage of each Fund's average daily net assets as shown in the following table:
ANNUAL RATE - ------------------------------------------------------------------------- Dow Jones U.S. Large Cap Growth Index Fund 0.20% Dow Jones U.S. Large Cap Value Index Fund 0.20 Dow Jones U.S. Small Cap Growth Index Fund 0.25 Dow Jones U.S. Small Cap Value Index Fund 0.25 Dow Jones Global Titans Index Fund 0.50 Wilshire REIT Index Fund 0.25 Morgan Stanley High Tech 35 Index Fund 0.50 Morgan Stanley Internet Index Fund 0.50 FORTUNE 500(R) Index Fund 0.20 FORTUNE e-50(TM) Index Fund 0.20
The Adviser pays all expenses of each Fund other than the management fee, brokerage, taxes, interest, fees and expenses of the Independent Trustees (including any Trustee's counsel fees), litigation expenses and other extraordinary expenses. DISTRIBUTOR State Street Capital Markets, LLC (the "Distributor") serves as the distributor of the shares of each Fund pursuant to a Distribution Plan and Agreement, pursuant to Rule 12b-1 under the 1940 Act, between the Distributor and the Trust. The Rule 12b-1 Plan and Agreement provides for payment of a fee to the Distributor at an annualized rate of 0.25% of the average daily net assets of each of the Funds, however no such payments will be made for the first twelve months of operations. 60 62 STREETTRACKS SERIES TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2001 - -------------------------------------------------------------------------------- TRUSTEES' FEES The Trust pays each Independent Trustee an annual fee of $12,000, and a meeting fee of $2,000 per meeting attended for the first twelve months of operations and then $4,500 per meeting attended thereafter. The Funds will reimburse the Trustees for any out of pocket expenses related to attending meetings of the Board of Trustees. 4. SHAREHOLDER TRANSACTIONS Except for under the Trust's dividend reinvestment plan, streetTRACKS are issued and redeemed by a Fund only in Creation Unit size aggregations of 50,000 streetTRACKS shares. Such transactions are only permitted on an in-kind basis, with a separate cash payment, which is a balancing cash component to equate the transaction to the net asset value per unit of the Fund on the transaction date. Transaction fees at scheduled amounts ranging from $500 to $2,000 per Creation Unit are charged to those persons creating or redeeming Creation Units. Transaction fees are received by the Transfer Agent and used to offset the expense of processing orders. 5. AGGREGATE UNREALIZED APPRECIATION AND DEPRECIATION The identified cost of investments in securities owned by each Fund for federal income tax purposes, and their respective gross unrealized appreciation and depreciation at June 30, 2001 were as follows:
GROSS GROSS NET UNREALIZED IDENTIFIED UNREALIZED UNREALIZED APPRECIATION COST APPRECIATION DEPRECIATION (DEPRECIATION) - --------------------------------------------------------------------------------------------------------------------- Dow Jones U.S. Large Cap Growth Index Fund $ 35,126,964 $ 689,335 $(11,517,441) $(10,828,106) Dow Jones U.S. Large Cap Value Index Fund 39,461,892 1,608,021 (2,267,516) (659,495) Dow Jones U.S. Small Cap Growth Index Fund 20,109,647 1,738,070 (2,141,942) (403,872) Dow Jones U.S. Small Cap Value Index Fund 21,736,621 4,554,488 (564,087) 3,990,401 Dow Jones Global Titans Index Fund 24,503,744 526,253 (3,886,818) (3,360,565) Wilshire REIT Index Fund 16,387,905 1,627,337 (10,225) 1,617,112 Morgan Stanley High Tech 35 Index Fund 108,487,747 4,594,299 (40,365,147) (35,770,848) Morgan Stanley Internet Index Fund 11,371,114 421,727 (5,023,827) (4,602,100) FORTUNE 500(R) Index Fund 52,469,393 2,251,199 (6,825,699) (4,574,500) FORTUNE e-50(TM) Index Fund 17,316,414 1,516,018 (2,690,125) (1,174,107)
6. INVESTMENT TRANSACTIONS For the period ended June 30, 2001, the Trust had in-kind contributions and in-kind redemptions as follows:
CONTRIBUTIONS REDEMPTIONS - ------------------------------------------------------------------------------------------ Dow Jones U.S. Large Cap Growth Index Fund $ 38,452,418 $ -- Dow Jones U.S. Large Cap Value Index Fund 72,043,240 32,755,284 Dow Jones U.S. Small Cap Growth Index Fund 31,053,823 6,706,515 Dow Jones U.S. Small Cap Value Index Fund 20,842,240 -- Dow Jones Global Titans Index Fund 31,732,865 6,536,521 Wilshire REIT Index Fund 16,383,226 -- Morgan Stanley High Tech 35 Index Fund 134,030,693 20,671,862 Morgan Stanley Internet Index Fund 68,753,097 25,183,455 FORTUNE 500(R) Index Fund 127,102,977 73,389,753 FORTUNE e-50(TM) Index Fund 90,197,516 49,648,263
61 63 STREETTRACKS SERIES TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2001 - -------------------------------------------------------------------------------- For the period ended June 30, 2001, the Trust had purchases and sales of investment securities as follows:
PURCHASES SALES - ---------------------------------------------------------------------------------------- Dow Jones U.S. Large Cap Growth Index Fund $ 4,340,802 $ 4,360,711 Dow Jones U.S. Large Cap Value Index Fund 5,223,113 5,033,810 Dow Jones U.S. Small Cap Growth Index Fund 5,044,136 4,923,440 Dow Jones U.S. Small Cap Value Index Fund 11,440,865 10,762,785 Dow Jones Global Titans Index Fund 5,538,685 4,054,012 Wilshire REIT Index Fund 321,507 346,334 Morgan Stanley High Tech 35 Index Fund 16,586,810 16,802,431 Morgan Stanley Internet Index Fund 13,772,593 13,856,069 FORTUNE 500(R) Index Fund 3,560,450 3,264,391 FORTUNE e-50(TM) Index Fund 7,992,129 8,032,331
7. INITIAL CAPITALIZATION AND OFFERING OF SHARES On the commencement of operations for each Fund (September 25, 2000, for the Dow Jones U.S. Large Cap Growth Index Fund, Dow Jones U.S. Large Cap Value Index Fund, Dow Jones U.S. Small Cap Growth Index Fund, Dow Jones U.S. Small Cap Value Index Fund, Dow Jones Global Titans Index Fund, Morgan Stanley High Tech 35 Index Fund, and Morgan Stanley Internet Index Fund, October 4, 2000, for the FORTUNE 500(R) Index Fund, and FORTUNE e-50(TM) Index Fund and April 23, 2001 for the Wilshire REIT Index Fund), the Board of Trustees declared reverse stock splits, which were effective on the date of commencement of operations for each Fund. The reverse stock splits were executed in order to align the net asset value per share of each Fund to an established proportion of its benchmark index. The ratio of the reverse stock splits were as follows:
FUND RATIO - ---------------------------------------------------------------------- Dow Jones U.S. Large Cap Growth Index Fund 1:9.736 Dow Jones U.S. Large Cap Value Index Fund 1:12.948 Dow Jones U.S. Small Cap Growth Index Fund 1:10.026 Dow Jones U.S. Small Cap Value Index Fund 1:10.371 Dow Jones Global Titans Index Fund 1:8.428 Wilshire REIT Index Fund 1:10.922 Morgan Stanley High Tech 35 Index Fund 1:9.781 Morgan Stanley Internet Index Fund 1:6.892 FORTUNE 500(R) Index Fund 1:9.785 FORTUNE e-50(TM) Index Fund 1:8.448
TAX INFORMATION (UNAUDITED) For federal income tax purposes, the following information is furnished with respect to the distributions of the Trust for its fiscal year ended June 30, 2001: Percentage of distributions which qualify for the corporate dividends paid deduction:
FUND PERCENTAGE - ------------------------------------------------------------------------ Dow Jones U.S. Large Cap Growth Index Fund 99.22% Dow Jones U.S. Large Cap Value Index Fund 100.00% Dow Jones U.S. Small Cap Value Index Fund 21.18% Dow Jones Global Titans Index Fund 59.75% FORTUNE 500(R) Index Fund 98.69%
62 64 STREETTRACKS SERIES TRUST OTHER INFORMATION JUNE 30, 2001 (UNAUDITED) - -------------------------------------------------------------------------------- FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS CLOSING PRICE VS. NAV AS OF JUNE 30, 2001 The following Frequency Distribution of Discounts and Premiums charts are provided to show the frequency at which the closing price (last trade) for each of the Funds was at a discount or premium to the daily net asset value (NAV). The following charts are for comparative purposes only and represent the period noted. DOW JONES U.S. LARGE CAP GROWTH INDEX FUND -------------------------------------------------------------------------------------------------------------------------- 50 TO 99 100 TO 199 200+ -50 TO -99 -100 TO -199 -200+ BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS -------------------------------------------------------------------------------------------------------------------------- 2001 QUARTER ENDING: 06/30/01 8 9 4 7 2 3 -------------------------------------------------------------------------------------------------------------------------- QUARTER ENDING: 03/31/01 8 6 11 3 4 5 -------------------------------------------------------------------------------------------------------------------------- 2000 QUARTER ENDING: 12/31/00* 7 9 13 3 7 14 --------------------------------------------------------------------------------------------------------------------------
* Trading on the AMEX commenced on September 29, 2000 DOW JONES U.S. LARGE CAP VALUE INDEX FUND -------------------------------------------------------------------------------------------------------------------------- 50 TO 99 100 TO 199 200+ -50 TO -99 -100 TO -199 -200+ BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS -------------------------------------------------------------------------------------------------------------------------- 2001 QUARTER ENDING: 06/30/01 4 2 0 5 7 0 -------------------------------------------------------------------------------------------------------------------------- QUARTER ENDING: 03/31/01 5 3 3 6 8 1 -------------------------------------------------------------------------------------------------------------------------- 2000 QUARTER ENDING: 12/31/00* 8 2 0 5 4 4 --------------------------------------------------------------------------------------------------------------------------
* Trading on the AMEX commenced on September 29, 2000 DOW JONES U.S. SMALL CAP GROWTH INDEX FUND -------------------------------------------------------------------------------------------------------------------------- 50 TO 99 100 TO 199 200+ -50 TO -99 -100 TO -199 -200+ BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS -------------------------------------------------------------------------------------------------------------------------- 2001 QUARTER ENDING: 06/30/01 8 4 2 6 3 0 -------------------------------------------------------------------------------------------------------------------------- QUARTER ENDING: 03/31/01 7 7 10 7 7 1 -------------------------------------------------------------------------------------------------------------------------- 2000 QUARTER ENDING: 12/31/00* 6 9 3 6 6 12 --------------------------------------------------------------------------------------------------------------------------
* Trading on the AMEX commenced on September 29, 2000 63 65 STREETTRACKS SERIES TRUST OTHER INFORMATION (CONTINUED) JUNE 30, 2001 (UNAUDITED) - -------------------------------------------------------------------------------- DOW JONES U.S. SMALL CAP VALUE INDEX FUND -------------------------------------------------------------------------------------------------------------------------- 50 TO 99 100 TO 199 200+ -50 TO -99 -100 TO -199 -200+ BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS -------------------------------------------------------------------------------------------------------------------------- 2001 QUARTER ENDING: 06/30/01 5 0 2 4 2 0 -------------------------------------------------------------------------------------------------------------------------- QUARTER ENDING: 03/31/01 7 5 1 5 5 2 -------------------------------------------------------------------------------------------------------------------------- 2000 QUARTER ENDING: 12/31/00* 7 4 5 5 7 11 --------------------------------------------------------------------------------------------------------------------------
* Trading on the AMEX commenced on September 29, 2000 DOW JONES GLOBAL TITANS INDEX FUND -------------------------------------------------------------------------------------------------------------------------- 50 TO 99 100 TO 199 200+ -50 TO -99 -100 TO -199 -200+ BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS -------------------------------------------------------------------------------------------------------------------------- 2001 QUARTER ENDING: 06/30/01 3 1 1 4 2 0 -------------------------------------------------------------------------------------------------------------------------- QUARTER ENDING: 03/31/01 10 3 2 6 6 2 -------------------------------------------------------------------------------------------------------------------------- 2000 QUARTER ENDING: 12/31/00* 7 10 3 3 2 1 --------------------------------------------------------------------------------------------------------------------------
* Trading on the AMEX commenced on September 29, 2000 WILSHIRE REIT INDEX FUND -------------------------------------------------------------------------------------------------------------------------- 50 TO 99 100 TO 199 200+ -50 TO -99 -100 TO -199 -200+ BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS -------------------------------------------------------------------------------------------------------------------------- 2001 QUARTER ENDING: 06/30/01* 2 1 0 6 7 2 --------------------------------------------------------------------------------------------------------------------------
* Trading on the AMEX commenced on April 27, 2001 MORGAN STANLEY HIGH TECH 35 INDEX FUND -------------------------------------------------------------------------------------------------------------------------- 50 TO 99 100 TO 199 200+ -50 TO -99 -100 TO -199 -200+ BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS -------------------------------------------------------------------------------------------------------------------------- 2001 QUARTER ENDING: 06/30/01 9 5 1 8 1 0 -------------------------------------------------------------------------------------------------------------------------- QUARTER ENDING: 03/31/01 4 2 0 4 0 1 -------------------------------------------------------------------------------------------------------------------------- 2000 QUARTER ENDING: 12/31/00* 13 3 1 7 1 0 --------------------------------------------------------------------------------------------------------------------------
* Trading on the AMEX commenced on September 29, 2000 64 66 STREETTRACKS SERIES TRUST OTHER INFORMATION (CONTINUED) JUNE 30, 2001 (UNAUDITED) - -------------------------------------------------------------------------------- MORGAN STANLEY INTERNET INDEX FUND -------------------------------------------------------------------------------------------------------------------------- 50 TO 99 100 TO 199 200+ -50 TO -99 -100 TO -199 -200+ BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS -------------------------------------------------------------------------------------------------------------------------- 2001 QUARTER ENDING: 06/30/01 8 6 17 9 9 7 -------------------------------------------------------------------------------------------------------------------------- QUARTER ENDING: 03/31/01 5 10 19 1 4 12 -------------------------------------------------------------------------------------------------------------------------- 2000 QUARTER ENDING: 12/31/00* 7 14 6 5 6 8 --------------------------------------------------------------------------------------------------------------------------
* Trading on the AMEX commenced on September 29, 2000 FORTUNE 500(R) INDEX FUND -------------------------------------------------------------------------------------------------------------------------- 50 TO 99 100 TO 199 200+ -50 TO -99 -100 TO -199 -200+ BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS -------------------------------------------------------------------------------------------------------------------------- 2001 QUARTER ENDING: 06/30/01 5 0 0 3 1 0 -------------------------------------------------------------------------------------------------------------------------- QUARTER ENDING: 03/31/01 4 2 0 7 0 0 -------------------------------------------------------------------------------------------------------------------------- 2000 QUARTER ENDING: 12/31/00* 8 4 0 7 2 4 --------------------------------------------------------------------------------------------------------------------------
* Trading on the AMEX commenced on October 10, 2000 FORTUNE e-50(TM) INDEX FUND -------------------------------------------------------------------------------------------------------------------------- 50 TO 99 100 TO 199 200+ -50 TO -99 -100 TO -199 -200+ BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS BASIS POINTS -------------------------------------------------------------------------------------------------------------------------- 2001 QUARTER ENDING: 06/30/01 5 8 7 9 7 3 -------------------------------------------------------------------------------------------------------------------------- QUARTER ENDING: 03/31/01 14 8 9 4 5 6 -------------------------------------------------------------------------------------------------------------------------- 2000 QUARTER ENDING: 12/31/00* 5 9 4 5 3 7 --------------------------------------------------------------------------------------------------------------------------
* Trading on the AMEX commenced on October 10, 2000 65 67 REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS To the Shareholders and Boards of Trustees of streetTRACKS Series Trust We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of the streetTRACKS Series Trust (comprising, respectively, the Dow Jones U.S. Large Cap Growth Index Fund, Dow Jones U.S. Large Cap Value Index Fund, Dow Jones U.S. Small Cap Growth Index Fund, Dow Jones U.S. Small Cap Value Index Fund, Dow Jones Global Titans Index Fund, Wilshire REIT Index Fund, Morgan Stanley High Tech 35 Index Fund, Morgan Stanley Internet Index Fund, FORTUNE 500(R) Index Fund, and FORTUNE e-50(TM) Index Fund), (collectively, the "Funds") as of June 30, 2001, and the related statements of operations, statements of changes in net assets and the financial highlights for the period from commencement of operations through June 30, 2001. These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of June 30, 2001 by correspondence with the custodian and brokers or by other appropriate auditing procedures where replies from brokers were not received. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of each of the respective portfolios constituting the streetTRACKS Series Trust at June 30, 2001, the results of their operations, the changes in their net assets and their financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States. /s/ Ernst & Young LLP Boston, Massachusetts August 10, 2001 66 68 streetTRACKS(SM) SERIES TRUST TRUSTEES Timothy B. Harbert (Chairman) David M. Kelly Nicholas A. Lopardo Frank Nesvet Helen F. Peters OFFICERS Agustin J. Fleites, President James E. Ross, Vice President Kathleen C. Cuocolo, Treasurer Donald A. Gignac, Assistant Treasurer George O. Martinez, Secretary Michael E. Gillespie, Assistant Secretary INVESTMENT MANAGER State Street Bank and Trust Company 225 Franklin Street Boston, MA 02110 DISTRIBUTOR State Street Capital Markets, LLC 225 Franklin Street Boston, MA 02110 CUSTODIAN, ADMINISTRATOR AND TRANSFER AGENT State Street Bank and Trust Company 225 Franklin Street Boston, MA 02110 LEGAL COUNSEL Mayer Brown & Platt 1675 Broadway New York, New York 10019 INDEPENDENT AUDITORS Ernst & Young LLP 200 Clarendon Street Boston, MA 02110 streetTRACKS are distributed by State Street Brokerage, a division of State Street Capital Markets, LLC, a wholly-owned subsidiary of State Street Corporation. State Street Capital Markets, LLC is a member of NASD, SIPC, and the Boston Stock Exchange. The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus from the Distributor by calling 1-866-S-TRACKS or visiting www.streettracks.com Please read the prospectus carefully before you invest. 69 *The investment return and principal value of an investment in the streetTRACKS funds will fluctuate in value, so that when shares are sold or redeemed they may be worth more or less than when they were purchased. For streetTRACKS Dow Jones us small cap growth, Dow Jones us small cap value, morgan stanley internet, morgan stanley high-tech 35, fortune e-50 and wilshire reit funds: in addition to the normal risks associated with equity investing, narrowly focused investments and investments in smaller companies typically exhibit higher volatility. For streetTRACKS global titans fund: international investments may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. In general, streetTRACKS shares can be expected to move up or down in value with the value of the applicable index. Although streetTRACKS may be bought and sold on the exchange through any brokerage account, streetTRACKS are not individually redeemable from the fund. Investors may acquire streetTRACKS and tender them for redemption through the fund in creation unit aggregations only. streetTRACKS are not sponsored, endorsed, sold, or promoted by Dow Jones & company, time inc., Morgan Stanley Dean Witter & Co., and wilshire Associates. Neither do these companies make any representation regarding the advisability of investing in streetTRACKS. streetTRACKS are distributed by State Street brokerage, a division of State Street Capital Markets, LLC, a wholly-owned subsidiary of State Street Corporation. State Street Capital Markets, LLC is a member of NASD, SIPC, and the Boston Stock Exchange. References to State Street may include State Street Corporation and its affiliates. Shares of the streetTRACKS funds are not insured by the FDIC or by another governmental agency; they are not obligations of the FDIC nor are they deposits or obligations of or guaranteed by State Street Bank and Trust Company. streetTRACKS shares are subject to investment risks, including possible loss of principal invested. The streetTRACKS funds pay State Street Bank and Trust Company for its services as investment advisor, custodian, transfer agent and shareholder servicing agent. Dow Diamonds(r), spdrs, and Select Sector Spdrs are distributed by Alps Mutual Funds Services, Inc., A registered broker-dealer. "Standard & Poor's(R)," "S&P(R)," "S&P 500(R)," "Standard & Poor's 500(R)", "Standard & Poor's Depositary Receipts(r)," "Spdrs(r)," "Select Sector Spdr(r)," "Select Sector Spdrs(r)" and "Select Sector Standard & Poor's Depositary Receipts(r)" are Trademarks of the Mcgraw-Hill Companies, Inc., and have been licensed for use in connection with their listing and trading on the American Stock Exchange. These products are not sponsored, endorsed, sold or promoted by S&P, a division of the Mcgraw-Hill Companies, Inc., and S&P makes no representation regarding the advisability of investing in them. the stocks included in each select sector index (upon which the products are based) were selected by the index compilation agent in consultation with S&P from the universe of companies represented by the S&P 500 Index. The composition and weighting of the stocks included in each select sector index can be expected to differ from the composition and weighting of stocks included in any similar S&P 500 Sector index that is published and disseminated by S&P. "Dow Jones(sm)," "the Dow(sm)," "Dow Jones Industrial average(sm)," "Dow Jones industrials(sm)," "djia(sm)" and "diamonds(r)" are trademarks of Dow Jones & Company, inc. ("Dow Jones") and have been licensed for use for certain purposes by the American Stock Exchange LLC and PDR Services LLC pursuant to a license agreement with Dow Jones. The Diamonds Trust, based on the DJIA, is not sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones makes no representation regarding the advisability of investing in the diamonds trust. NOT ALL streetTRACKS Funds may be currently available. Please contact your financial advisor. [STATE STREET GLOBAL ADVISORS LOGO] -----END PRIVACY-ENHANCED MESSAGE-----