<DOCUMENT>
<TYPE>NSAR-U
<SEQUENCE>1
<FILENAME>j905nsaru.txt
<DESCRIPTION>SPDR TRUST SERIES 1 NSAR-U
<TEXT>

                                   FORM N-SAR
                                 ANNUAL REPORT
                      FOR REGISTERED INVESTMENT COMPANIES

Report for six month period ending:
           or calendar year ending:12/31/07
Is this a transition report?:(Y/N)  N


Is this an amendment to a previous filing? (Y/N)  N


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:        811-07330
   C. Telephone Number:   (212)306-1000

2. A. Street: 86 Trinity Place
   B. City:   New York
   C. State:  New York
   D. Zip Code: 10006              Zip Ext:
   E. Foreign Country:             Foreign Postal Code:

3. Is this the first filing on this form by the Registrant? (Y/N)  N
                                                                  ---

4. Is this the last filing on this form by Registrant? (Y/N)       N
                                                                  ---

5. Is Registrant a small business investment company (SBIC)? (Y/N)
                                                                   N
   [If answer is Y (Yes) complete only items 89 through 110.]     ---
-


6. Is Registrant a unit investment trust (UIT)? (Y/N)
                                                                   Y
   [If answer is Y (Yes) complete only items 111 through 132.]    ---
-


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?
 -
                                                                  ---










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: _____




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: _____


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
         ($000s 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
_______________________________________________________


123. [/] State the total value of the additional units considered in
         answering item 122 ($000s 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)
         ($000s 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 ($000s 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.) ($000s omitted) ______________________


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):



			    Number of 	       Total Assets	      Total Income
		    	      Series 	           ($000s	      Distribution
		              Investing 	omitted) 	     ($000s omitted)

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 security of brokers
Or dealers or parents of
Brokers or dealers

I.	Investment company equity
Securities

J.	All other equity securities		1	$97,164,684	$1,487,532

K.	Other securities

L.	Total assets of all series
Of registrant

128. [/] Is the timely payment of principal and interest on any of
the
         portfolio securities held by any of Registrants 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)
___________________________

Y/N

131. Total expenses incurred by all series of Registrant during the
     current reporting period ($000s omitted) __$62,708___________







132.List the 11811 (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-


</TEXT>
</DOCUMENT>
