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FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: / / (a)
or calendar year ending: 12/31/97 (b)
Is this a transition report?:(Y/N) N
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Is this an amendment to a previous filing? (Y/N) Y
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Those items or sub-items with a box "[/]" after the item number should be
completed only if the answer has changed from the previous filing
form.
1. A. Registrant Name: SPDR Trust, Series 1
B. File Number: 811-7330
C. Telephone Number: 212-306-1490
2. A. Street: 86 Trinity Place
B. City: New York C. State: NY D. Zip Code: 10006 Zip Ext.
E. Foreign Country:
3. Is this the first filing on this form by the Registrant? (Y/N) N
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4. Is this the last filing on this form by Registrant? (Y/N) N
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5. Is Registrant a small business investment company (SBIC)? (Y/N)
[If answer is "Y" (Yes) complete only items 89 through 110.] N
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6. Is Registrant a unit investment trust (UIT)? (Y/N)
[If answer is "Y" (Yes) complete only items 111 through 132.] Y
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7. A. Is Registrant a series or multiple portfolio company? (Y/N) ___
[If answer is "N" (No), go to item 8.]
B. How many separate series or portfolios did Registrant have at
the end of the period? ___
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For period ending 12/31/97 If filing more than one
File number 811-7330 Page 47, "X" box: _____
UNIT INVESTMENT TRUSTS
111. A. [/] Depositor Name:
B. [/] File Number (If any):
C. [/] City: State: Zip Code: Zip Ext.:
[/] Foreign Country: Foreign Postal Code:
111. A. [/] Depositor Name:
B. [/] File Number (If any):
C. [/] City: State: Zip Code: Zip Ext.:
[/] Foreign Country: Foreign Postal Code:
112. A. [/] Sponsor Name:
B. [/] File Number (If any):
C. [/] City: State: Zip Code: Zip Ext.:
[/] Foreign Country: Foreign Postal Code:
112. A. [/] Sponsor Name:
B. [/] File Number (If any):
C. [/] City: State: Zip Code: Zip Ext.:
[/] Foreign Country: Foreign Postal Code:
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For period ending 12/31/97 If filing more than one
File number 811-7330 Page 48, "X" box:______
113. A. [/] Trustee Name:
B. [/] City: State: Zip Code: Zip Ext.:
[/] Foreign Country: Foreign Postal Code:
113. A. [/] Trustee Name:
B. [/] City: State: Zip Code: Zip Ext.:
[/] Foreign Country: Foreign Postal Code:
114. A. [/] Principal Underwriter Name:
B. [/] File Number:
C. [/] City: State: Zip Code: Zip Ext.:
[/] Foreign Country: Foreign Postal Code:
114. A. [/] Principal Underwriter Name:
B. [/] File Number: 8-
C. [/] City: State: Zip Code: Zip Ext.:
[/] Foreign Country: Foreign Postal Code:
115. A. [/] Independent Public Accountant Name:
B. [/] City: State: Zip Code: Zip Ext.:
[/] Foreign Country: Foreign Postal Code:
115. A. [/] Independent Public Accountant Name:
B. [/] City: State: Zip Code: Zip Ext.:
[/] Foreign Country: Foreign Postal Code:
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For period ending 12/31/97 If filing more than one
File number 811-7330 Page 49, "X" box:_____
116. Family of investment companies information:
A. [/] Is Registrant part of a family of investment
companies? (Y/N) ___
B. [/] Identify the family in 10 letters:
(NOTE: In filing this form, use this identification
consistently for all investment companies in family.
This designation is for purposes of this form only.)
117. A. [/] Is Registrant a separate account of an insurance
company? (Y/N) ___
If answer is "Y" (Yes), are any of the following types of
contracts funded by the Registrant?:
B. [/] Variable annuity contracts? (Y/N) ___
C. [/] Scheduled premium variable life contracts? (Y/N) ___
D. [/] Flexible premium variable life contracts? (Y/N) ___
E. [/] Other types of insurance products registered under the
Securities Act of 1933? (Y/N) ___
118. [/] State the number of series existing at the end of the period
that had securities registered under the Securities Act
of 1933 ___
119. [/] State the number of new series for which registration
statements under the Securities Act of 1933 became
effective during the period ___
120. [/] State the total value of the portfolio securities on the date
of deposit for the new series included in item 119 ___
($000's omitted)
121. [/] State the number of series for which a current prospectus was
in existence at the end of the period ___
122. [/] State the number of existing series for which additional units
were registered under the Securities Act of 1933 during the
current period ___
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For period ending 12/31/97 If filing more than one
File number 811-7330 Page 50, "X" box:______
123. [/] State the total value of the additional units considered in
answering item 122 ($000's omitted) ___
124. [/] State the total value of units of prior series that were placed
in the portfolios of subsequent series during the current
period (the value of these units is to be measured on the date
they were placed in the subsequent series)
($000's omitted) ___
125. [/] State the total dollar amount of sales loads collected (before
reallowances to other brokers or dealers) by Registrant's
principal underwriter and any underwriter which is an
affiliated person of the principal underwriter during the
current period solely from the sale of units of all series of
Registrant ($000's omitted) ___
126. Of the amount shown in item 125, state the total dollar amount
sales loads collected from secondary market operations in
Registrant's units (include the sales loads, if any, collected
on units of a prior series placed in the portfolio of a
subsequent series.) ($000's omitted) 0
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127. List opposite the appropriate description below the number of
series whose portfolios are invested primarily (based upon a
percentage of NAV) in each type of security shown, the
aggregate total assets at market value as of a date at or near
the end of the current period of each such group of series and
the total income distributions made by each such group of
series during the current period (excluding distributions of
realized gains, if any):
<TABLE>
<CAPTION>
Number of Total Assets Total Income
Series (%000's Distributions
Investing omitted) ($000's omitted)
<S> <C> <C> <C>
A. U.S. Treasury direct issue _______ $___________ $________
B. U.S. Government agency _______ $___________ $________
C. State and municipal tax-free _______ $___________ $________
D. Public utility debt _______ $___________ $________
E. Brokers or dealers debt or debt
of brokers' or dealers' parent _______ $___________ $________
F. All other corporate intermed. &
long-term debt _______ $___________ $________
G. All other corporate short-term
debt _______ $___________ $________
H. Equity securities of brokers or
dealers or parents of brokers or
dealers _______ $___________ $________
I. Investment company equity
securities _______ $___________ $________
J. All other equity securities 1 $ 5,539,739 $ 54,268
------- ----------- --------
K. Other securities _______ $___________ $________
L. Total assets of all series of
registrant _______ $___________ $________
</TABLE>
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For period ending 12/31/97 If filing more than one
File number 811-7330 Page 51, "X" box:______
128. [/] Is the timely payment of principal and interest on any of the
portfolio securities held by any of Registrant's series at the
end of the current period insured or guaranteed by an entity
other than the issuer? (Y/N) ___
[If answer is "N" (No), go to item 131.] Y/N
129. [/] Is the issuer of any instrument covered in item 128 delinquent
or in default as to payment of principal or interest at the
end of the current period? (Y/N) ___
[If answer is "N" (No), go to item 131.] Y/N
130. [/] In computations of NAV or offering price per unit, is any part
of the value attributed to instruments identified in item 129
derived from insurance or guarantees? (Y/N) ___
131. Total expenses incurred by all series of Registrant during the
current reporting period ($000's omitted) $ 5,927
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132. [/] List the "811" (Investment Company Act of 1940) registration
number for all Series of Registrant that are being included in
this filing:
811-______811-______811-______811-______811-______
811-______811-______811-______811-______811-______
811-______811-______811-______811-______811-______
811-______811-______811-______811-______811-______
811-______811-______811-______811-______811-______
811-______811-______811-______811-______811-______
811-______811-______811-______811-______811-______
811-______811-______811-______811-______811-______
811-______811-______811-______811-______811-______
This report is signed on behalf of the Registrant.
City Of: Boston State Of: Massachusetts
Date: March 6, 1998
Name of Registrant: SPDR TRUST, SERIES 1
By: DONALD A. GIGNAC /s/ Witness: JAMES E. ROSS /s/
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Donald A. Gignac James E. Ross
Vice President Assistant Vice President
State Street Bank & Trust Co. State Street Bank & Trust Co.
As Trustee For SPDR Trust, Series 1 As Trustee For SPDR Trust, Series 1
