# EDGAR Filing Document

**Accession Number:** 0001454889
**File Stem:** 0001410368-25-031494
**Filing Date:** 2025-11
**Character Count:** 103621
**Document Hash:** 4b184e080c443c5d005ef5eec4f7eaa3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-031494.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-031494

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCHWAB STRATEGIC TRUST
- **CENTRAL INDEX KEY:** 0001454889

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22311
- **FILM NUMBER:** 251524319

**BUSINESS ADDRESS:**
- **STREET 1:** 211 MAIN STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** 1-415-667-7000

**MAIL ADDRESS:**
- **STREET 1:** 211 MAIN STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Schwab Strategic Trust
- **DATE OF NAME CHANGE:** 20090127

## Series and Classes Contracts Data

### Schwab Ultra-Short Income ETF (Series ID: S000085986)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000251386 | Schwab Ultra-Short Income ETF | SCUS            |

## Nport-Ex

Schwab Strategic Trust

Schwab Ultra-Short Income ETF

------

**Portfolio Holdings** as of September 30, 2025 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

For fixed rate securities, the rate shown is the coupon rate (the rate established when the security was issued). For variable rate securities, the rate shown is the interest rate as of the report date based on each security's rate reset date and if the coupon rate is not available, the effective yield at the time of purchase is shown and when a security is purchased with a zero coupon rate, the effective yield at the time of purchase is shown. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The maturity date shown for all the securities is the final legal maturity. Securities whose maturities at the time of acquisition were one year or less are categorized under Short-Term Investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| ISSUER | RATE | MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **CORPORATES** 34.6% OF NET ASSETS | **CORPORATES** 34.6% OF NET ASSETS | **CORPORATES** 34.6% OF NET ASSETS | **CORPORATES** 34.6% OF NET ASSETS | **CORPORATES** 34.6% OF NET ASSETS |
| **Financial Institutions 20.3%**  | **Financial Institutions 20.3%**  | **Financial Institutions 20.3%**  | **Financial Institutions 20.3%**  | **Financial Institutions 20.3%**  |
| **Banking 15.7%**  | **Banking 15.7%**  | **Banking 15.7%**  | **Banking 15.7%**  | **Banking 15.7%**  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co. <br> *(a)* | &nbsp;&nbsp; 2.55% | &nbsp;&nbsp; 03/04/27 | &nbsp;&nbsp; 925000 | &nbsp;&nbsp; 907083 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co. <br> *(a)* | &nbsp;&nbsp; 3.30% | &nbsp;&nbsp; 05/03/27 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 990420 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Montreal <br> *(a)* | &nbsp;&nbsp; 5.27% | &nbsp;&nbsp; 12/11/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 608538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Nova Scotia  | &nbsp;&nbsp; 2.70% | &nbsp;&nbsp; 08/03/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 593574 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Nova Scotia <br> *(a)* | &nbsp;&nbsp; 1.30% | &nbsp;&nbsp; 09/15/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 487595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Nova Scotia  | &nbsp;&nbsp; 5.25% | &nbsp;&nbsp; 06/12/28 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1032220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce <br> *(a)* | &nbsp;&nbsp; 5.93% | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 725000 | &nbsp;&nbsp; 738601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. <br> *(a)* | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 01/31/28 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 992330 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Bank AG <br> *(a)(b)* | &nbsp;&nbsp; 2.13% | &nbsp;&nbsp; 11/24/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 398564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. <br> *(a)* | &nbsp;&nbsp; 3.50% | &nbsp;&nbsp; 11/16/26 | &nbsp;&nbsp; 437000 | &nbsp;&nbsp; 434269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. <br> *(a)(b)* | &nbsp;&nbsp; 1.23% | &nbsp;&nbsp; 05/22/27 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1078968 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley <br> *(a)(b)* | &nbsp;&nbsp; 0.99% | &nbsp;&nbsp; 12/10/26 | &nbsp;&nbsp; 1205000 | &nbsp;&nbsp; 1197192 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley <br> *(a)(b)* | &nbsp;&nbsp; 5.05% | &nbsp;&nbsp; 01/28/27 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 526176 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Australia Bank Ltd.  | &nbsp;&nbsp; 4.31% | &nbsp;&nbsp; 06/13/28 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1514325 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Bank NA <br> *(a)(b)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 05/13/27 | &nbsp;&nbsp; 985000 | &nbsp;&nbsp; 986655 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. <br> *(a)* | &nbsp;&nbsp; 2.60% | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 469718 |
| &nbsp;&nbsp;&nbsp;&nbsp; Royal Bank of Canada <br> *(a)* | &nbsp;&nbsp; 1.20% | &nbsp;&nbsp; 04/27/26 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 418234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc.  | &nbsp;&nbsp; 2.63% | &nbsp;&nbsp; 07/14/26 | &nbsp;&nbsp; 1820000 | &nbsp;&nbsp; 1799943 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc.  | &nbsp;&nbsp; 1.40% | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 487675 |
| &nbsp;&nbsp;&nbsp;&nbsp; Toronto-Dominion Bank <br> *(a)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 12/17/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 502915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp. <br> *(a)* | &nbsp;&nbsp; 1.13% | &nbsp;&nbsp; 08/03/27 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1897840 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Bancorp <br> *(a)* | &nbsp;&nbsp; 3.95% | &nbsp;&nbsp; 11/17/25 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 549736 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Bancorp <br> *(a)* | &nbsp;&nbsp; 3.15% | &nbsp;&nbsp; 04/27/27 | &nbsp;&nbsp; 430000 | &nbsp;&nbsp; 424767 |
|  |  |  |  | &nbsp;&nbsp; **19037338** |
| **Brokerage/Asset Managers/Exchanges 0.2%**  | **Brokerage/Asset Managers/Exchanges 0.2%**  | **Brokerage/Asset Managers/Exchanges 0.2%**  | **Brokerage/Asset Managers/Exchanges 0.2%**  | **Brokerage/Asset Managers/Exchanges 0.2%**  |
| &nbsp;&nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc. <br> *(a)* | &nbsp;&nbsp; 4.85% | &nbsp;&nbsp; 01/15/27 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc.  | &nbsp;&nbsp; 6.45% | &nbsp;&nbsp; 06/08/27 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103584 |
|  |  |  |  | &nbsp;&nbsp; **229679** |
| **Insurance 3.1%**  | **Insurance 3.1%**  | **Insurance 3.1%**  | **Insurance 3.1%**  | **Insurance 3.1%**  |
| &nbsp;&nbsp;&nbsp;&nbsp; American International Group, Inc. <br> *(a)* | &nbsp;&nbsp; 4.20% | &nbsp;&nbsp; 04/01/28 | &nbsp;&nbsp; 2130000 | &nbsp;&nbsp; 2132662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. <br> *(a)* | &nbsp;&nbsp; 1.50% | &nbsp;&nbsp; 03/15/26 | &nbsp;&nbsp; 603000 | &nbsp;&nbsp; 596313 |

---

**1**

------

Schwab Ultra-Short Income ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| ISSUER | RATE | MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. <br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 10/30/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 502200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. <br> *(a)* | &nbsp;&nbsp; 4.10% | &nbsp;&nbsp; 03/01/28 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 499820 |
|  |  |  |  | &nbsp;&nbsp; **3730995** |
| **REITs 1.3%**  | **REITs 1.3%**  | **REITs 1.3%**  | **REITs 1.3%**  | **REITs 1.3%**  |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust LP <br> *(a)(c)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/15/28 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1007680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simon Property Group LP <br> *(a)* | &nbsp;&nbsp; 1.38% | &nbsp;&nbsp; 01/15/27 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 531960 |
|  |  |  |  | &nbsp;&nbsp; **1539640** |
|  |  |  |  | &nbsp;&nbsp; **24537652** |
| **Industrial 12.1%**  | **Industrial 12.1%**  | **Industrial 12.1%**  | **Industrial 12.1%**  | **Industrial 12.1%**  |
| **Basic Industry 0.3%**  | **Basic Industry 0.3%**  | **Basic Industry 0.3%**  | **Basic Industry 0.3%**  | **Basic Industry 0.3%**  |
| &nbsp;&nbsp;&nbsp;&nbsp; Westlake Corp. <br> *(a)(c)* | &nbsp;&nbsp; 3.60% | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp; 352785 |
| **Communications 1.9%**  | **Communications 1.9%**  | **Communications 1.9%**  | **Communications 1.9%**  | **Communications 1.9%**  |
| &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. <br> *(a)* | &nbsp;&nbsp; 1.70% | &nbsp;&nbsp; 03/25/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 148279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. <br> *(a)(c)* | &nbsp;&nbsp; 3.15% | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 597618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. <br> *(a)* | &nbsp;&nbsp; 2.35% | &nbsp;&nbsp; 01/15/27 | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 308826 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. <br> *(a)(c)* | &nbsp;&nbsp; 2.63% | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 128964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney Co. <br> *(c)(d)* | &nbsp;&nbsp; 7.28% | &nbsp;&nbsp; 06/30/28 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1080560 |
|  |  |  |  | &nbsp;&nbsp; **2264247** |
| **Consumer Cyclical 1.3%**  | **Consumer Cyclical 1.3%**  | **Consumer Cyclical 1.3%**  | **Consumer Cyclical 1.3%**  | **Consumer Cyclical 1.3%**  |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc. <br> *(a)* | &nbsp;&nbsp; 3.00% | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 597054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Toyota Motor Corp. <br> *(a)* | &nbsp;&nbsp; 5.28% | &nbsp;&nbsp; 07/13/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 605238 |
| &nbsp;&nbsp;&nbsp;&nbsp; VICI Properties LP/VICI Note Co., Inc. <br> *(a)(d)* | &nbsp;&nbsp; 5.75% | &nbsp;&nbsp; 02/01/27 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 222836 |
| &nbsp;&nbsp;&nbsp;&nbsp; VICI Properties LP/VICI Note Co., Inc. <br> *(a)(d)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 02/15/27 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 148407 |
|  |  |  |  | &nbsp;&nbsp; **1573535** |
| **Consumer Non-Cyclical 2.6%**  | **Consumer Non-Cyclical 2.6%**  | **Consumer Non-Cyclical 2.6%**  | **Consumer Non-Cyclical 2.6%**  | **Consumer Non-Cyclical 2.6%**  |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc. <br> *(a)* | &nbsp;&nbsp; 3.20% | &nbsp;&nbsp; 05/14/26 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 527689 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. <br> *(a)* | &nbsp;&nbsp; 2.88% | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 148652 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. <br> *(a)* | &nbsp;&nbsp; 3.00% | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 123724 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. <br> *(a)* | &nbsp;&nbsp; 4.30% | &nbsp;&nbsp; 03/25/28 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 750562 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. <br> *(a)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 304640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kroger Co. <br> *(a)* | &nbsp;&nbsp; 3.50% | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 149618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International, Inc. <br> *(a)* | &nbsp;&nbsp; 5.00% | &nbsp;&nbsp; 11/17/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International, Inc. <br> *(a)* | &nbsp;&nbsp; 2.75% | &nbsp;&nbsp; 02/25/26 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 372870 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tyson Foods, Inc. <br> *(a)* | &nbsp;&nbsp; 3.55% | &nbsp;&nbsp; 06/02/27 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 247600 |
|  |  |  |  | &nbsp;&nbsp; **3225847** |
| **Energy 3.2%**  | **Energy 3.2%**  | **Energy 3.2%**  | **Energy 3.2%**  | **Energy 3.2%**  |
| &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips Co. <br> *(a)(c)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/15/27 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 528045 |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp. <br> *(a)* | &nbsp;&nbsp; 6.50% | &nbsp;&nbsp; 07/01/27 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 250958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exxon Mobil Corp. <br> *(a)* | &nbsp;&nbsp; 3.04% | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 597810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. <br> *(a)(c)* | &nbsp;&nbsp; 4.30% | &nbsp;&nbsp; 03/01/28 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1004730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger Holdings Corp. <br> *(a)(d)* | &nbsp;&nbsp; 4.00% | &nbsp;&nbsp; 12/21/25 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 529327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger Holdings Corp. <br> *(a)(d)* | &nbsp;&nbsp; 5.00% | &nbsp;&nbsp; 05/29/27 | &nbsp;&nbsp; 950000 | &nbsp;&nbsp; 964136 |
|  |  |  |  | &nbsp;&nbsp; **3875006** |
| **Technology 2.8%**  | **Technology 2.8%**  | **Technology 2.8%**  | **Technology 2.8%**  | **Technology 2.8%**  |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom Corp./Broadcom Cayman Finance Ltd. <br> *(a)(c)* | &nbsp;&nbsp; 3.88% | &nbsp;&nbsp; 01/15/27 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. <br> *(a)* | &nbsp;&nbsp; 5.05% | &nbsp;&nbsp; 07/12/27 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 254377 |

---

**2**

------

Schwab Ultra-Short Income ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| ISSUER | RATE | MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. <br> *(a)* | &nbsp;&nbsp; 1.45% | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 294972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fiserv, Inc. <br> *(a)* | &nbsp;&nbsp; 5.15% | &nbsp;&nbsp; 03/15/27 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fiserv, Inc. <br> *(a)* | &nbsp;&nbsp; 5.45% | &nbsp;&nbsp; 03/02/28 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 462771 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. <br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 09/25/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125528 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp. <br> *(a)* | &nbsp;&nbsp; 3.15% | &nbsp;&nbsp; 05/11/27 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 103369 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Business Machines Corp. <br> *(a)* | &nbsp;&nbsp; 3.30% | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp; 537608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. <br> *(a)* | &nbsp;&nbsp; 2.65% | &nbsp;&nbsp; 07/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 148245 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. <br> *(a)* | &nbsp;&nbsp; 2.30% | &nbsp;&nbsp; 03/25/28 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 478090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synopsys, Inc.  | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 04/01/27 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 754995 |
|  |  |  |  | &nbsp;&nbsp; **3411660** |
|  |  |  |  | &nbsp;&nbsp; **14703080** |
| **Utility 2.2%**  | **Utility 2.2%**  | **Utility 2.2%**  | **Utility 2.2%**  | **Utility 2.2%**  |
| **Electric 2.2%**  | **Electric 2.2%**  | **Electric 2.2%**  | **Electric 2.2%**  | **Electric 2.2%**  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc. <br> *(a)* | &nbsp;&nbsp; 3.90% | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc. <br> *(a)* | &nbsp;&nbsp; 4.25% | &nbsp;&nbsp; 06/01/28 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 901827 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Rural Utilities Cooperative Finance Corp. <br> *(a)* | &nbsp;&nbsp; 5.60% | &nbsp;&nbsp; 11/13/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 508305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xcel Energy, Inc. <br> *(a)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 12/01/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 396144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xcel Energy, Inc. <br> *(a)* | &nbsp;&nbsp; 4.75% | &nbsp;&nbsp; 03/21/28 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 759847 |
|  |  |  |  | &nbsp;&nbsp; **2716123** |
| **Total Corporates**<br> **(Cost $41,844,161)** | **Total Corporates**<br> **(Cost $41,844,161)** | **Total Corporates**<br> **(Cost $41,844,161)** | **Total Corporates**<br> **(Cost $41,844,161)** | &nbsp;&nbsp; **41956855** |
| **SHORT-TERM INVESTMENTS** 49.9% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 49.9% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 49.9% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 49.9% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 49.9% OF NET ASSETS |
| **CERTIFICATES OF DEPOSIT** 17.4% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 17.4% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 17.4% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 17.4% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 17.4% OF NET ASSETS |
| **Banco Bilbao Vizcaya Argentaria SA** | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000259 |
| **BANK OF AMERICA NA** | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100083 |
| **Bank of Montreal** | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 10/24/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000139 |
| **BARCLAYS BANK PLC (NEW YORK BRANCH)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.35%)<br> *(e)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 10/24/25 | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 515086 |
| **BNP Paribas SA** | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 12/03/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000564 |
| **Canadian Imperial Bank of Commerce** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.30%)<br> *(e)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 310213 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.37%)<br> *(a)(e)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 09/09/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000099 |
| **Credit Agricole Corporate & Investment Bank SA** | &nbsp;&nbsp; 4.22% | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1701296 |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (NEW YORK BRANCH)** | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900258 |
| **Credit Industriel et Commercial** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.34%)<br> *(e)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000741 |
| **Deutsche Bank AG** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.37%)<br> *(e)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 1108000 | &nbsp;&nbsp; 1108720 |
| **Mitsubishi UFJ Trust & Banking Corp.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.24%)<br> *(e)* | &nbsp;&nbsp; 4.37% | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400370 |
| **MIZUHO BANK LTD (NEW YORK BRANCH)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.27%)<br> *(e)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 11/06/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000187 |

---

**3**

------

Schwab Ultra-Short Income ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| ISSUER | RATE | MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MUFG Bank Ltd.** | &nbsp;&nbsp; 4.35% | &nbsp;&nbsp; 01/26/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000684 |
| **Natixis SA** | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 02/20/26 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 350476 |
| **OVERSEA CHINESE BANKING CORPORATION LTD (NEW YORK BRANCH)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.22%)<br> *(e)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000423 |
| **ROYAL BANK OF CANADA (NEW YORK BRANCH)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.32%)<br> *(e)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1701097 |
| **Toronto-Dominion Bank**<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/27/26 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 391469 |
| **TORONTO-DOMINION BANK (NEW YORK BRANCH)** |  |  |  |  |
|  | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 220073 |
|  | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 145087 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.30%)<br> *(e)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 210120 |
| **TRUIST BANK** | &nbsp;&nbsp; 4.35% | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500136 |
| **Westpac Banking Corp.** | &nbsp;&nbsp; 4.32% | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1501123 |
| **Total Certificates Of Deposit**<br> **(Cost $21,047,860)**<br>|  |  |  | &nbsp;&nbsp; **21058703** |
| **ASSET-BACKED COMMERCIAL PAPER** 9.2% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 9.2% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 9.2% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 9.2% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 9.2% OF NET ASSETS |
| **Antalis SA** |  |  |  |  |
| *(d)(f)* | &nbsp;&nbsp; 4.15% | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 249943 |
| *(d)(f)* | &nbsp;&nbsp; 4.15% | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 1275000 | &nbsp;&nbsp; 1274561 |
| **Barclays Bank PLC**<br> *(d)(f)* | &nbsp;&nbsp; 4.30% | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 935000 | &nbsp;&nbsp; 921100 |
| **Cabot Trail Funding LLC**<br> *(d)(f)* | &nbsp;&nbsp; 4.30% | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98592 |
| **FALCON ASSET FUNDING LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.28%)<br> *(a)(d)(e)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100003 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.37%)<br> *(a)(d)(e)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 610000 | &nbsp;&nbsp; 610107 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.28%)<br> *(d)(e)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 04/27/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500197 |
| **LMA-Americas LLC**<br> *(d)(f)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 329962 |
| **Mainbeach Funding LLC**<br> *(d)(f)* | &nbsp;&nbsp; 4.29% | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1281322 |
| **Podium Funding Trust** |  |  |  |  |
| *(f)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 12/10/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 991962 |
| *(f)* | &nbsp;&nbsp; 4.27% | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 788856 |
| **PRICOA SHORT TERM FUNDING LLC**<br> *(d)(f)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 11/03/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1992187 |
| **Total Asset-Backed Commercial Paper**<br> **(Cost $11,136,546)**<br>|  |  |  | &nbsp;&nbsp; **11138792** |
| **FINANCIAL COMPANY COMMERCIAL PAPER** 18.0% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 18.0% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 18.0% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 18.0% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 18.0% OF NET ASSETS |
| **ANZ New Zealand International Ltd.**<br> *(c)(d)(f)* | &nbsp;&nbsp; 4.30% | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1476861 |
| **BPCE SA** |  |  |  |  |
| *(d)(f)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 11/13/25 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1094481 |
| *(d)(f)* | &nbsp;&nbsp; 4.25% | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 984967 |
| **Canadian Imperial Bank of Commerce**<br> *(d)(f)* | &nbsp;&nbsp; 4.26% | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1970310 |
| **Credit Industriel et Commercial**<br> *(d)(f)* | &nbsp;&nbsp; 4.27% | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 184000 | &nbsp;&nbsp; 181271 |
| **HSBC USA, Inc.**<br> *(d)(f)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 438257 |

---

**4**

------

Schwab Ultra-Short Income ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| ISSUER | RATE | MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Lloyds Bank Corporate Markets PLC**<br> *(f)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 788302 |
| **Macquarie Bank Ltd.** |  |  |  |  |
| *(d)(f)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 10/22/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 997488 |
| *(d)(f)* | &nbsp;&nbsp; 4.35% | &nbsp;&nbsp; 12/09/25 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 396855 |
| *(d)(f)* | &nbsp;&nbsp; 4.33% | &nbsp;&nbsp; 02/12/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 591068 |
| *(d)(f)* | &nbsp;&nbsp; 4.33% | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 245309 |
| **MetLife Short Term Funding LLC**<br> *(d)(f)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 835000 | &nbsp;&nbsp; 826349 |
| **National Bank of Canada** |  |  |  |  |
| *(d)(f)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 11/04/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 597604 |
| *(d)(f)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 246467 |
| *(d)(f)* | &nbsp;&nbsp; 4.20% | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2050961 |
| **Natixis SA**<br> *(f)* | &nbsp;&nbsp; 4.25% | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 246424 |
| **Nordea Bank Abp**<br> *(d)(f)* | &nbsp;&nbsp; 4.25% | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2660822 |
| **ROYAL BANK OF CANADA** |  |  |  |  |
| *(d)(f)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 493113 |
| *(d)(f)* | &nbsp;&nbsp; 4.19% | &nbsp;&nbsp; 05/19/26 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 877657 |
| **Skandinaviska Enskilda Banken AB**<br> *(d)(f)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1769557 |
| **Sumitomo Mitsui Trust Bank Ltd.**<br> *(d)(f)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 10/22/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2394023 |
| **TORONTO-DOMINION BANK/THE**<br> *(d)(f)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 499488 |
| **Total Financial Company Commercial Paper**<br> **(Cost $21,814,577)**<br>|  |  |  | &nbsp;&nbsp; **21827634** |
| **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 2.2% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 2.2% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 2.2% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 2.2% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 2.2% OF NET ASSETS |
| **TotalEnergies Capital SA**<br> *(c)(d)(f)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 479449 |
| **TOTALENERGIES CAPITAL SA**<br> *(c)(d)(f)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2195706 |
| **Total Non-Financial Company Commercial Paper**<br> **(Cost $2,675,195)**<br>|  |  |  | &nbsp;&nbsp; **2675155** |
| **VARIABLE RATE DEMAND NOTES** 3.1% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 3.1% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 3.1% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 3.1% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 3.1% OF NET ASSETS |
| **Greyshoe Issuing Trust** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Taxable Variable Rate Demand Notes Series 2022 (**LOC**: Federal Home Loan Banks)<br> *(a)(c)(g)* | &nbsp;&nbsp; 4.20% | &nbsp;&nbsp; 12/01/72 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| **Jefferson Westchester LLC**<br> *(a)(c)(g)* | &nbsp;&nbsp; 4.20% | &nbsp;&nbsp; 11/01/63 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |

---

**5**

------

Schwab Ultra-Short Income ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| ISSUER | RATE | MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Keep Memory Alive** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Taxable Variable Rate Demand Notes Series 2013 (**LOC**: PNC BANK NA)<br> *(a)(c)(g)* | &nbsp;&nbsp; 4.17% | &nbsp;&nbsp; 05/01/37 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1700000 |
| **Total Variable Rate Demand Notes**<br> **(Cost $3,700,000)**<br>|  |  |  | &nbsp;&nbsp; **3700000** |
| **Total Short-Term Investments**<br> **(Cost $60,374,178)**<br>|  |  |  | &nbsp;&nbsp; **60400284** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| ISSUER | RATE | MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **REPURCHASE AGREEMENTS** 14.9% OF NET ASSETS | **REPURCHASE AGREEMENTS** 14.9% OF NET ASSETS | **REPURCHASE AGREEMENTS** 14.9% OF NET ASSETS | **REPURCHASE AGREEMENTS** 14.9% OF NET ASSETS | **REPURCHASE AGREEMENTS** 14.9% OF NET ASSETS |
| **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 2.8%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 2.8%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 2.8%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 2.8%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 2.8%** |
| **BOFA SECURITIES INC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Issued 09/30/25, repurchase date 10/01/25 | &nbsp;&nbsp; 4.21% | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 400047 | &nbsp;&nbsp; 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Collateralized by U.S. Treasury and U.S. Government Agency Securities valued <br> at $409,371, 0.63%-7.50%, due 07/15/29-09/20/70)<br>|  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Issued 09/30/25, repurchase date 10/01/25 | &nbsp;&nbsp; 4.21% | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 3000351 | &nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Collateralized by U.S. Government Agency Securities valued at $3,090,000, <br> 2.00%-7.00%, due 10/01/34-09/01/55)<br>|  |  |  |  |
|  |  |  |  | &nbsp;&nbsp; **3400000** |
| **OTHER REPURCHASE AGREEMENTS\*\* 12.1%** | **OTHER REPURCHASE AGREEMENTS\*\* 12.1%** | **OTHER REPURCHASE AGREEMENTS\*\* 12.1%** | **OTHER REPURCHASE AGREEMENTS\*\* 12.1%** | **OTHER REPURCHASE AGREEMENTS\*\* 12.1%** |
| **BARCLAYS BANK PLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Issued 09/30/25, repurchase date 10/01/25 | &nbsp;&nbsp; 4.17% | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 2000232 | &nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Collateralized by U.S. Treasury Securities and common stocks, ETFs, <br> corporate bonds, asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $2,159,999, 0.00%-1.50%, due <br> 02/15/53-01/01/00)<br>|  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Issued 09/26/25, repurchase date 10/03/25 | &nbsp;&nbsp; 4.19% | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 2401955 | &nbsp;&nbsp; 2400000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Collateralized by U.S. Government Agency Securities and common stocks, <br> ETFs, corporate bonds, asset backed securities, or non-agency <br> collateralized mortgage obligations valued at $2,594,424, 3.36%-6.85%, <br> due 12/25/27-10/15/42)<br>|  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Issued 09/24/25, repurchase date 01/26/26<br> *(e)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 01/26/26 | &nbsp;&nbsp; 3047843 | &nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Collateralized by common stocks, ETFs, corporate bonds, asset backed <br> securities, or non-agency collateralized mortgage obligations valued at <br> $3,240,001, 0.00%, due 01/01/00)<br> (SOFR + 0.50%)<br>|  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Issued 09/09/25, repurchase date 12/24/25<br> *(e)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 12/24/25 | &nbsp;&nbsp; 3647064 | &nbsp;&nbsp; 3600000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Collateralized by common stocks, ETFs, corporate bonds, asset backed <br> securities, or non-agency collateralized mortgage obligations valued at <br> $3,888,021, 0.00%, due 01/01/00)<br> (SOFR + 0.31%)<br>|  |  |  |  |

---

**6**

------

Schwab Ultra-Short Income ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Issued 09/10/25, repurchase date 04/08/26 |  | &nbsp;&nbsp; 4.83% | &nbsp;&nbsp; 04/08/26 | &nbsp;&nbsp; 3701430 | &nbsp;&nbsp; 3600000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Collateralized by U.S. Government Agency Securities valued at $4,140,000, <br> 11.81%, due 05/15/35)<br>|  |  |  |  |  |
|  |  |  |  |  | &nbsp;&nbsp; **14600000** |
| **Total Repurchase Agreements**<br> **(Cost $18,000,000)**<br>|  |  |  |  | &nbsp;&nbsp; **18000000** |
| **Total Investments in Securities**<br> **(Cost $120,218,339)** | **Total Investments in Securities**<br> **(Cost $120,218,339)** | **Total Investments in Securities**<br> **(Cost $120,218,339)** | **Total Investments in Securities**<br> **(Cost $120,218,339)** | **Total Investments in Securities**<br> **(Cost $120,218,339)** | &nbsp;&nbsp; **120357139** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Collateralized via U.S. Government Agency Securities or less frequently by higher rated U.S. Treasury Securities.

\*\* Collateralized via common stocks, ETFs, corporate bonds, asset backed securities, American depositary receipts, or non-agency collateralized mortgage obligations or less frequently by higher rated U.S. Government Agency Securities and/ or U.S. Treasury Securities. Securities without a stated maturity date, such as common stocks, ETFs, American depositary receipts and perpetual bonds, are represented by 01/01/00. 

*(a)* The effective maturity may be shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or as the result of embedded demand features (puts or calls). 

*(b)* Fixed-to-Float security is in a fixed-rate coupon period.

*(c)* Credit-enhanced or liquidity-enhanced.

*(d)* Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $35,771,303 or 29.5% of net assets. 

*(e)* Variable rate security; rate shown is effective rate at period end.

*(f)* Zero coupon bond. When a security is purchased with a zero coupon rate the effective yield at the time of purchase is shown.

*(g)* VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| ETF — | Exchange-Traded Fund |
| FICC — | Fixed Income Clearing Corp |
| LOC — | Letter of credit |
| SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate <br> Demand Obligations with certain characteristics.<br>|
| SOFR — | Secured Overnight Financing Rate is published daily by the Federal Reserve Bank of New York and is based on the cost of borrowing cash overnight collateralized by <br> U.S. Treasury securities.<br>|
| VRDN — | Variable rate demand note |

---

At September 30, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments into categories is disclosed in the Portfolio Holdings (see notes to portfolio holdings for additional information).

**7**

------

Schwab Ultra-Short Income ETF

**Notes to Portfolio Holdings (Unaudited)** 

------

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the 1940 Act), the Board of Trustees (the Board) has designated authority to a Valuation Designee, the fund's investment adviser, to make fair valuation determinations under adopted procedures, subject to Board oversight. The investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and liabilities as well as to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair value. The Valuation Designee may utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Securities held in the fund's portfolio are valued every business day. The following valuation policies and procedures are used by the Valuation Designee to value various types of securities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Bonds and notes:** Fixed income investments are generally valued using an evaluated price at the mid-point of the bid/ask spread provided by an approved, independent pricing service (mid-price). To determine the evaluated mid-price, a pricing service may use a variety of techniques and inputs. Techniques may include, but are not limited to, spread models that calculate an investment-specific price relative to a benchmark or yield curve models that establish a price based on yields of comparable bonds along a range of maturities. Inputs differ by valuation approach and techniques, as appropriate, and examples of inputs may include, but are not limited to, interest rates, market conditions, comparable bonds, market trades, projected cash flows, credit reviews and issuer news.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Short-term securities (60 days or less to maturity):** Securities with remaining maturities of 60 days or less are generally valued at an evaluated price; however, such securities may be valued at their amortized cost if it approximates the security's fair value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Securities for which no quoted value is available:** The Valuation Designee has adopted procedures to fair value the fund's securities when market prices are not "readily available" or are unreliable. For example, a security may be fair valued when it's de-listed or its trading is halted or suspended; when a security's primary pricing source is unable or unwilling to provide a price; or when a security's primary trading market is closed during regular market hours. Fair value determinations are made in good faith in accordance with adopted valuation procedures. The Valuation Designee considers a number of factors, including unobservable market inputs, when arriving at fair value. The Valuation Designee may employ methods such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. Due to the subjective and variable nature of fair value pricing, there can be no assurance that the fund could obtain the fair value assigned to the security upon the sale of such security.

In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the significant inputs to valuation methods used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. If it is determined that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and the Valuation Designee's judgment will be required to estimate fair value.

The three levels of the fair value hierarchy are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Level 1 — quoted prices in active markets for identical investments - Investments whose values are based on quoted market prices in active markets. These generally include active listed equities, mutual funds, exchange-traded funds (ETFs) and futures contracts. Mutual funds and ETFs are classified as Level 1 prices, without consideration to the classification level of the underlying securities held which could be Level 1, Level 2 or Level 3 in the fair value hierarchy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include forward foreign currency exchange contracts, U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Level 3 — significant unobservable inputs (including the Valuation Designee's assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not readily available for these securities, one or more valuation methods are used for which sufficient and reliable data is available. The inputs used in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated in the absence of market information. Assumptions used due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund's results of operations.

**8**

------

Schwab Ultra-Short Income ETF

**Notes to Portfolio Holdings (Unaudited) (continued)**

------

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The levels associated with valuing the fund's investments as of September 30, 2025, are disclosed in the fund's Portfolio Holdings.

REG126043SEP25

**9**

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** SCHWAB STRATEGIC TRUST

- **b. Investment Company Act file number:** 811-22311

- **c. CIK number of Registrant:** 0001454889

- **d. LEI of Registrant:** 549300NAZEQOIX80E226

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 211 MAIN STREET

  - **City:** SAN FRANCISCO

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

  - **Telephone number:** 800-648-5300

**Item A.2. Information about the Series.**

- **a. Name of Series:** Schwab Ultra-Short Income ETF

- **b. EDGAR series identifier (if any):** S000085986

- **c. LEI of Series:** 254900EWMD4919BM8663

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $121086515.53

**Total Liabilities:** $13774.55

**Net Assets:** $121072740.98

**Cash Not Reported:** $34897.09

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 1046.76000000 | **1-Year:** 3647.99000000 | **5-Year:** 3018.08000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000251386 | 0.30%                | 0.47%                | 0.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-768.43                 | $-36437.48                                 |
| Month 2  | $0.00                    | $74684.93                                  |
| Month 3  | $0.00                    | $36816.40                                  |

### Schedule of Portfolio Investments

| Name                                                   | Title                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Antalis SA                                             | Antalis SA                                             | CUSIP: 03664AX37<br>LEI: 549300G2LM2ZKZ0X4Y50 | Long             | STIV             | CORP              | FR        |   1275000 | PA      | $1274560.89   | 1.05%             | 2025-10-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                | Jefferies Financial Group Inc                          | CUSIP: 472319AE2<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103584.00    | 0.09%             | 2027-06-08      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| GREYSHOE ISSUING TRUST                                 | Greyshoe Issuing Trust                                 | CUSIP: 39808XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.83%             | 2072-12-01      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMP BK COMM NY                                | Canadian Imperial Bank of Commerce/New York NY         | CUSIP: 13606DEU2<br>LEI: 549300H8L46OOZOFHU82 | Long             | STIV             | CORP              | CA        |    310000 | PA      | $310213.28    | 0.26%             | 2026-02-09      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                 | PNC Financial Services Group Inc/The                   | CUSIP: 693475AX3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    475000 | PA      | $469718.00    | 0.39%             | 2026-07-23      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                             | US Bancorp                                             | CUSIP: 91159HHU7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    550000 | PA      | $549736.00    | 0.45%             | 2025-11-17      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| HSBC USA INC                                           | HSBC USA Inc                                           | CUSIP: 40434RBA9<br>LEI: 549300LBOHZ4QSIWU288 | Long             | STIV             | CORP              | US        |    445000 | PA      | $438257.32    | 0.36%             | 2026-02-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                       | Bank of Montreal                                       | CUSIP: 06368LC53<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    600000 | PA      | $608538.00    | 0.50%             | 2026-12-11      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| Tyson Foods Inc                                        | Tyson Foods Inc                                        | CUSIP: 902494BC6<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247600.00    | 0.20%             | 2027-06-02      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP                                | Schlumberger Holdings Corp                             | CUSIP: 806851AL5<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |    950000 | PA      | $964136.00    | 0.80%             | 2027-05-29      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                               | Sumitomo Mitsui Financial Group Inc                    | CUSIP: 86562MAF7<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   1820000 | PA      | $1799943.60   | 1.49%             | 2026-07-14      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                         | Home Depot Inc/The                                     | CUSIP: 437076BM3<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    600000 | PA      | $597054.00    | 0.49%             | 2026-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                       | BANK OF MONTREAL                                       | CUSIP: 000000000<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | STIV             | CORP              | CA        |   1000000 | PA      | $1000139.28   | 0.83%             | 2025-10-24      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria/New York NY            | Banco Bilbao Vizcaya Argentaria/New York NY            | CUSIP: 05971MCT0<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $1000259.00   | 0.83%             | 2025-10-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA/New York NY                             | BNP Paribas SA/New York NY                             | CUSIP: 05593DDY6<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | STIV             | CORP              | FR        |   1000000 | PA      | $1000564.10   | 0.83%             | 2025-12-03      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA                               | TotalEnergies Capital SA                               | CUSIP: 89152EXA1<br>LEI: 529900QI55ZLJVCMPA71 | Long             | STIV             | CORP              | FR        |    480000 | PA      | $479448.82    | 0.40%             | 2025-10-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY                               | National Australia Bank Ltd/New York                   | CUSIP: 632525CJ8<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |   1500000 | PA      | $1514325.00   | 1.25%             | 2028-06-13      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                | Jefferies Financial Group Inc                          | CUSIP: 47233JAG3<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126095.00    | 0.10%             | 2027-01-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| OVERSEA-CHINESE BK CO NY                               | Oversea-Chinese Banking Corp Ltd/New York              | CUSIP: 69033NFF7<br>LEI: 5493007O3QFXCPOGWK22 | Long             | STIV             | CORP              | SG        |   2000000 | PA      | $2000423.00   | 1.65%             | 2025-12-01      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                                    | Dominion Energy Inc                                    | CUSIP: 25746UCE7<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150000.00    | 0.12%             | 2025-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BPCE                                                   | BPCE SA                                                | CUSIP: 05571BYD9<br>LEI: 9695005MSX1OYEMGDF46 | Long             | STIV             | CORP              | FR        |   1100000 | PA      | $1094480.64   | 0.90%             | 2025-11-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FALCON ASSET FUNDING LLC                               | Falcon Asset Funding LLC                               | CUSIP: 30608HBS3<br>LEI: 254900AGHU3V6ARMLZ93 | Long             | STIV             | CORP              | US        |   1100000 | PA      | $1100002.92   | 0.91%             | 2026-01-05      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA                               | TotalEnergies Capital SA                               | CUSIP: 89152EXH6<br>LEI: 529900QI55ZLJVCMPA71 | Long             | STIV             | CORP              | FR        |   2200000 | PA      | $2195705.82   | 1.81%             | 2025-10-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                             | Fiserv Inc                                             | CUSIP: 337738BJ6<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126705.00    | 0.10%             | 2027-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| MACQUARIE BANK LIMITED                                 | Macquarie Bank Ltd                                     | CUSIP: 55607LCK8<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | STIV             | CORP              | AU        |    250000 | PA      | $245309.28    | 0.20%             | 2026-03-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                         | TRI-PARTY BNP PARIBAS SA/XISS                          | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | RA               | CORP              | US        |   2400000 | PA      | $2400000.00   | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| PRICOA SHORT TERM FDG LL                               | Pricoa Short Term Funding LLC                          | CUSIP: 74154EY36<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1992187.60   | 1.65%             | 2025-11-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                 | Philip Morris International Inc                        | CUSIP: 718172BT5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    375000 | PA      | $372870.00    | 0.31%             | 2026-02-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                  | Toronto-Dominion Bank/The                              | CUSIP: 89115A3A8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $502915.00    | 0.42%             | 2026-12-17      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| MACQUARIE BANK LIMITED                                 | Macquarie Bank Ltd                                     | CUSIP: 55607LBC7<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | STIV             | CORP              | AU        |    600000 | PA      | $591067.50    | 0.49%             | 2026-02-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                               | AT&T Inc                                               | CUSIP: 00206RML3<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148279.50    | 0.12%             | 2026-03-25      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                    | Elevance Health Inc                                    | CUSIP: 036752AG8<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499820.00    | 0.41%             | 2028-03-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                             | TRI-PARTY WELLS FARGO SECURITI                         | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | Long             | RA               | CORP              | US        |   3600000 | PA      | $3600000.00   | 2.97%             |  |  |  | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ TR & BANK                               | Mitsubishi UFJ Trust & Banking Corp                    | CUSIP: 60683D6V6<br>LEI: JBONEPAGQXF4QP29B387 | Long             | STIV             | CORP              | JP        |   1400000 | PA      | $1400370.16   | 1.16%             | 2026-01-27      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                                 | VICI Properties LP / VICI Note Co Inc                  | CUSIP: 92564RAD7<br>LEI: N/A                  | Long             | DBT              |  | US        |    150000 | PA      | $148407.00    | 0.12%             | 2027-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BPCE                                                   | BPCE SA                                                | CUSIP: 05571CBD2<br>LEI: 9695005MSX1OYEMGDF46 | Long             | STIV             | CORP              | FR        |   1000000 | PA      | $984967.00    | 0.81%             | 2026-02-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                           | Comcast Corp                                           | CUSIP: 20030NBS9<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    600000 | PA      | $597618.00    | 0.49%             | 2026-03-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| EXXON MOBIL CORPORATION                                | Exxon Mobil Corp                                       | CUSIP: 30231GAT9<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    600000 | PA      | $597810.00    | 0.49%             | 2026-03-01      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| FALCON ASSET FUNDING LLC                               | Falcon Asset Funding LLC                               | CUSIP: 30608HCR4<br>LEI: 254900AGHU3V6ARMLZ93 | Long             | STIV             | CORP              | US        |   1500000 | PA      | $1500197.09   | 1.24%             | 2026-04-27      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF CANADA                                | National Bank of Canada                                | CUSIP: 63307LY47<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | STIV             | CORP              | CA        |    600000 | PA      | $597604.44    | 0.49%             | 2025-11-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CORP                                      | Toyota Motor Corp                                      | CUSIP: 892331AP4<br>LEI: 5493006W3QUS5LMH6R84 | Long             | DBT              | CORP              | JP        |    600000 | PA      | $605238.00    | 0.50%             | 2026-07-13      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                               | Capital One Financial Corp                             | CUSIP: 14040HBW4<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992330.00    | 0.82%             | 2028-01-31      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon                                | TRI-PARTY FICC BNY/XISS/FICC                           | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | Long             | RA               | CORP              | US        |   3000000 | PA      | $3000000.00   | 2.48%             |  |  |  | No            |                  2 | On Loan: No      |
| US Bancorp                                             | US Bancorp                                             | CUSIP: 91159HHR4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    430000 | PA      | $424766.90    | 0.35%             | 2027-04-27      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                               | Sumitomo Mitsui Financial Group Inc                    | CUSIP: 86562MCH1<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    500000 | PA      | $487675.00    | 0.40%             | 2026-09-17      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA NY                                | Royal Bank of Canada/New York NY                       | CUSIP: 78015JG43<br>LEI: 549300HXQQQCCUBS2Z23 | Long             | STIV             | CORP              | CA        |   1700000 | PA      | $1701097.35   | 1.41%             | 2026-05-15      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| METLIFE SHORT TERM FUND                                | MetLife Short Term Funding LLC                         | CUSIP: 59157UA26<br>LEI: 54930024MDLTV1K1YL10 | Long             | STIV             | CORP              | US        |    835000 | PA      | $826348.65    | 0.68%             | 2026-01-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Natixis SA/New York NY                                 | Natixis SA/New York NY                                 | CUSIP: 63873TBG2<br>LEI: 2549003L5ZG5M2ZSE107 | Long             | STIV             | CORP              | FR        |    350000 | PA      | $350475.97    | 0.29%             | 2026-02-20      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp/NY                                | Westpac Banking Corp/NY                                | CUSIP: 96130AZC5<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | STIV             | CORP              | AU        |   1500000 | PA      | $1501123.05   | 1.24%             | 2026-03-19      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| PNC BANK NA                                            | PNC Bank NA                                            | CUSIP: 69353RFY9<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |    985000 | PA      | $986654.80    | 0.81%             | 2027-05-13      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP                                | Schlumberger Holdings Corp                             | CUSIP: 806851AG6<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |    530000 | PA      | $529326.90    | 0.44%             | 2025-12-21      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CABOT TRAIL FUNDING LLC                                | Cabot Trail Funding LLC                                | CUSIP: 12710HB31<br>LEI: 25490002FPRX2W8W9V23 | Long             | STIV             | CORP              | US        |    100000 | PA      | $98592.30     | 0.08%             | 2026-02-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                    | Elevance Health Inc                                    | CUSIP: 036752AR4<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    603000 | PA      | $596312.73    | 0.49%             | 2026-03-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets, Inc.                         | TRI-PARTY CITIGROUP GLOBAL MAR                         | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Long             | RA               | CORP              | US        |   3600000 | PA      | $3600000.00   | 2.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                                    | Dominion Energy Inc                                    | CUSIP: 25746UCY3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    900000 | PA      | $901827.00    | 0.74%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                    | Elevance Health Inc                                    | CUSIP: 036752BG7<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502200.00    | 0.41%             | 2026-10-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                             | Fiserv Inc                                             | CUSIP: 337738BD9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    450000 | PA      | $462771.00    | 0.38%             | 2028-03-02      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                   | Royal Bank of Canada                                   | CUSIP: 78016EZQ3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    425000 | PA      | $418234.00    | 0.35%             | 2026-04-27      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| ANZ NEW ZEALAND INTL/LDN                               | ANZ New Zealand Int'l Ltd/London                       | CUSIP: 0018A3BH6<br>LEI: 213800VD256NU2D97H12 | Long             | STIV             | CORP              | AU        |   1500000 | PA      | $1476861.15   | 1.22%             | 2026-02-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FALCON ASSET FUNDING LLC                               | Falcon Asset Funding LLC                               | CUSIP: 30608HBK0<br>LEI: 254900AGHU3V6ARMLZ93 | Long             | STIV             | CORP              | US        |    610000 | PA      | $610106.69    | 0.50%             | 2026-02-06      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| Digital Realty Trust LP                                | Digital Realty Trust LP                                | CUSIP: 25389JAT3<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |   1000000 | PA      | $1007680.00   | 0.83%             | 2028-07-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| American International Group Inc                       | American International Group Inc                       | CUSIP: 026874DK0<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |   2130000 | PA      | $2132662.50   | 1.76%             | 2028-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP                                | Simon Property Group LP                                | CUSIP: 828807DP9<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |    550000 | PA      | $531960.00    | 0.44%             | 2027-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                    | American Express Co                                    | CUSIP: 025816CS6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    925000 | PA      | $907082.75    | 0.75%             | 2027-03-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| MACQUARIE BANK LIMITED                                 | Macquarie Bank Ltd                                     | CUSIP: 55607KXN1<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | STIV             | CORP              | AU        |   1000000 | PA      | $997488.30    | 0.82%             | 2025-10-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Bank Ltd/Singapore               | Sumitomo Mitsui Trust Bank Ltd/Singapore               | CUSIP: 86564YXN7<br>LEI: 5493006GGLR4BTEL8O61 | Long             | STIV             | CORP              | SG        |   2400000 | PA      | $2394022.80   | 1.98%             | 2025-10-22      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                  | Truist Financial Corp                                  | CUSIP: 89788MAC6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1897840.00   | 1.57%             | 2027-08-03      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| CREDIT INDUST ET COMM NY                               | Credit Industriel et Commercial/New York               | CUSIP: 22536WKJ4<br>LEI: N4JDFKKH2FTD8RKFXO39 | Long             | STIV             | CORP              | FR        |   1000000 | PA      | $1000740.50   | 0.83%             | 2026-02-06      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Xcel Energy Inc                                        | Xcel Energy Inc                                        | CUSIP: 98389BAU4<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    400000 | PA      | $396144.00    | 0.33%             | 2026-12-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BK                                    | TORONTO DOMINION BK                                    | CUSIP: 89115DJP2<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | US        |    145000 | PA      | $145086.94    | 0.12%             | 2025-12-16      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                               | International Business Machines Corp                   | CUSIP: 459200JZ5<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    540000 | PA      | $537607.80    | 0.44%             | 2026-05-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF CANADA                                | National Bank of Canada                                | CUSIP: 63307ME47<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | STIV             | CORP              | CA        |   2100000 | PA      | $2050960.80   | 1.69%             | 2026-05-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                    | Bank of Nova Scotia/The                                | CUSIP: 06418GAD9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1032220.00   | 0.85%             | 2028-06-12      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                               | National Rural Utilities Cooperative Finance Corp      | CUSIP: 63743HFK3<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    500000 | PA      | $508305.00    | 0.42%             | 2026-11-13      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMP BK COMM NY                                | Canadian Imperial Bank of Commerce/New York NY         | CUSIP: 13606DNL2<br>LEI: 549300H8L46OOZOFHU82 | Long             | STIV             | CORP              | CA        |   1000000 | PA      | $1000099.01   | 0.83%             | 2026-09-09      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                       | Deutsche Bank AG/New York NY                           | CUSIP: 251526CE7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    400000 | PA      | $398564.00    | 0.33%             | 2026-11-24      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| Intel Corp                                             | Intel Corp                                             | CUSIP: 458140AX8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103369.35    | 0.09%             | 2027-05-11      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                        | Nordea Bank Abp                                        | CUSIP: 65558KB94<br>LEI: 529900ODI3047E2LIV03 | Long             | STIV             | CORP              | FI        |   2700000 | PA      | $2660822.46   | 2.20%             | 2026-02-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                         | CUSIP: 61747YEZ4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    525000 | PA      | $526176.00    | 0.43%             | 2027-01-28      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA                                        | BANK OF AMERICA                                        | CUSIP: 06051WSS4<br>LEI: 549300HN4UKV1E2R3U73 | Long             | STIV             | CORP              | US        |    100000 | PA      | $100082.95    | 0.08%             | 2026-01-07      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                 | Canadian Imperial Bank of Commerce                     | CUSIP: 13607LWT6<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    725000 | PA      | $738601.00    | 0.61%             | 2026-10-02      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| PODIUM FUNDING TRUST                                   | Podium Funding Trust                                   | CUSIP: 73044GB32<br>LEI: N/A                  | Long             | STIV             | CORP              | CA        |    800000 | PA      | $788856.00    | 0.65%             | 2026-02-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BK                                    | TORONTO DOMINION BK                                    | CUSIP: 89115DEK8<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | US        |    220000 | PA      | $220072.84    | 0.18%             | 2025-11-14      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                              | Kroger Co/The                                          | CUSIP: 501044DC2<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149617.50    | 0.12%             | 2026-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JEFFERSON WESTCHESTER                                  | Jefferson Westchester LLC                              | CUSIP: 475490AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.83%             | 2063-11-01      | Variable      | 4.20%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                            | Equinix Inc                                            | CUSIP: 29444UBQ8<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |    300000 | PA      | $294972.00    | 0.24%             | 2026-05-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                             | AbbVie Inc                                             | CUSIP: 00287YAY5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    530000 | PA      | $527689.20    | 0.44%             | 2026-05-14      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                    | Bank of Nova Scotia/The                                | CUSIP: 0641598K5<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $487595.00    | 0.40%             | 2026-09-15      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| NATIXIS NY BRANCH                                      | Natixis SA/New York NY                                 | CUSIP: 63873KB63<br>LEI: 2549003L5ZG5M2ZSE107 | Long             | STIV             | CORP              | US        |    250000 | PA      | $246424.18    | 0.20%             | 2026-02-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BROADCOM CRP / CAYMN FI                                | Broadcom Corp / Broadcom Cayman Finance Ltd            | CUSIP: 11134LAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    125000 | PA      | $125000.00    | 0.10%             | 2027-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                           | Comcast Corp                                           | CUSIP: 20030NBW0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    315000 | PA      | $308826.00    | 0.26%             | 2027-01-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc                                    | Gilead Sciences Inc                                    | CUSIP: 375558BF9<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    305000 | PA      | $304640.10    | 0.25%             | 2026-03-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| CA IMPERIAL BK OF COMM                                 | Canadian Imperial Bank of Commerce                     | CUSIP: 13608BB94<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | STIV             | CORP              | CA        |   2000000 | PA      | $1970310.00   | 1.63%             | 2026-02-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KEEP MEMORY ALIVE                                      | Keep Memory Alive                                      | CUSIP: 487437AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1700000.00   | 1.40%             | 2037-05-01      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                | Goldman Sachs Group Inc/The                            | CUSIP: 38145GAH3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    437000 | PA      | $434268.75    | 0.36%             | 2026-11-16      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                         | CUSIP: 6174468V4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1205000 | PA      | $1197191.60   | 0.99%             | 2026-12-10      | Fixed         | 0.99%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                 | Philip Morris International Inc                        | CUSIP: 718172CU1<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    600000 | PA      | $600492.00    | 0.50%             | 2025-11-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                                 | VICI Properties LP / VICI Note Co Inc                  | CUSIP: 92564RAJ4<br>LEI: N/A                  | Long             | DBT              |  | US        |    220000 | PA      | $222835.80    | 0.18%             | 2027-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CREDIT INDUST ET COMM NY                               | Credit Industriel et Commercial/New York               | CUSIP: 22536MBB3<br>LEI: N4JDFKKH2FTD8RKFXO39 | Long             | STIV             | CORP              | US        |    184000 | PA      | $181271.21    | 0.15%             | 2026-02-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Credit Agricole Corporate and Investment Bank/New York | Credit Agricole Corporate and Investment Bank/New York | CUSIP: 22536JKV6<br>LEI: 254900BN8XS34XZDJ223 | Long             | STIV             | CORP              | US        |    900000 | PA      | $900258.39    | 0.74%             | 2025-11-05      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| BARCLAYS US CCP                                        | Barclays Bank PLC                                      | CUSIP: 06741EB90<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | STIV             | CORP              | US        |    935000 | PA      | $921099.92    | 0.76%             | 2026-02-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LMA AMERICAS LLC                                       | LMA-Americas LLC                                       | CUSIP: 53944QX13<br>LEI: FOR8UP27PHTHYVLBNG30 | Long             | STIV             | CORP              | US        |    330000 | PA      | $329962.31    | 0.27%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MAINBEACH FUNDING LLC                                  | Mainbeach Funding LLC                                  | CUSIP: 56037CB50<br>LEI: 635400CWJW29VERCBI90 | Long             | STIV             | CORP              | US        |   1300000 | PA      | $1281321.60   | 1.06%             | 2026-02-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BofA Securities, Inc.                                  | TRI-PARTY BOASI - BOFA SECURIT                         | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Long             | RA               | CORP              | US        |   3000000 | PA      | $3000000.00   | 2.48%             |  |  |  | No            |                  2 | On Loan: No      |
| MUFG Bank Ltd/New York NY                              | MUFG Bank Ltd/New York NY                              | CUSIP: 55381BGY8<br>LEI: C3GTMMZIHMY46P4OIX74 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $1000683.50   | 0.83%             | 2026-01-26      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                        | CVS Health Corp                                        | CUSIP: 126650CX6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    750000 | PA      | $750562.50    | 0.62%             | 2028-03-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                               | EQT Corp                                               | CUSIP: 26884LAT6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    245000 | PA      | $250958.40    | 0.21%             | 2027-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                       | T-Mobile USA Inc                                       | CUSIP: 87264ABU8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    130000 | PA      | $128963.90    | 0.11%             | 2026-04-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                        | CVS Health Corp                                        | CUSIP: 126650DF4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123723.75    | 0.10%             | 2026-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                        | CVS Health Corp                                        | CUSIP: 126650CU2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148651.50    | 0.12%             | 2026-06-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| WESTLAKE CORP                                          | Westlake Corp                                          | CUSIP: 960413AT9<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | DBT              | CORP              | US        |    355000 | PA      | $352784.80    | 0.29%             | 2026-08-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| MIZUHO BANK LTD/NY                                     | Mizuho Bank Ltd/New York NY                            | CUSIP: 60710TQ61<br>LEI: RB0PEZSDGCO3JS6CEU02 | Long             | STIV             | CORP              | JP        |   1000000 | PA      | $1000187.00   | 0.83%             | 2025-11-06      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| Credit Agricole Corporate and Investment Bank/New York | Credit Agricole Corporate and Investment Bank/New York | CUSIP: 22536JZA6<br>LEI: 254900BN8XS34XZDJ223 | Long             | STIV             | CORP              | US        |   1700000 | PA      | $1701296.25   | 1.41%             | 2026-02-02      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                            | Oracle Corp                                            | CUSIP: 68389XBM6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148245.00    | 0.12%             | 2026-07-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                                        | Xcel Energy Inc                                        | CUSIP: 98389BBD1<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    750000 | PA      | $759847.50    | 0.63%             | 2028-03-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SKANDINAV ENSKILDA BANK                                | Skandinaviska Enskilda Banken AB                       | CUSIP: 83050UC22<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | STIV             | CORP              | SE        |   1800000 | PA      | $1769557.14   | 1.46%             | 2026-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BofA Securities, Inc.                                  | TRI-PARTY BOFA SECURITIES INC                          | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Long             | RA               | CORP              | US        |    400000 | PA      | $400000.00    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| TRUIST BANK                                            | Truist Bank                                            | CUSIP: 89788LEL4<br>LEI: JJKC32MCHWDI71265Z06 | Long             | STIV             | CORP              | US        |   1500000 | PA      | $1500135.45   | 1.24%             | 2025-10-31      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                       | Hewlett Packard Enterprise Co                          | CUSIP: 42824CBR9<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125527.50    | 0.10%             | 2026-09-25      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                   | Royal Bank of Canada                                   | CUSIP: 78013WB25<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | STIV             | CORP              | CA        |    500000 | PA      | $493113.40    | 0.41%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                      | Kinder Morgan Inc                                      | CUSIP: 49456BAP6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004730.00   | 0.83%             | 2028-03-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| PODIUM FUNDING TRUST                                   | Podium Funding Trust                                   | CUSIP: 73044DZA7<br>LEI: N/A                  | Long             | STIV             | CORP              | CA        |   1000000 | PA      | $991962.50    | 0.82%             | 2025-12-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                    | American Express Co                                    | CUSIP: 025816CP2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $990420.00    | 0.82%             | 2027-05-03      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                   | Royal Bank of Canada                                   | CUSIP: 78013WEK2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | STIV             | CORP              | CA        |    900000 | PA      | $877656.51    | 0.72%             | 2026-05-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Antalis SA                                             | Antalis SA                                             | CUSIP: 03664AX29<br>LEI: 549300G2LM2ZKZ0X4Y50 | Long             | STIV             | CORP              | FR        |    250000 | PA      | $249942.65    | 0.21%             | 2025-10-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC NY                                   | Barclays Bank PLC/NY                                   | CUSIP: 06745GDM0<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | STIV             | CORP              | GB        |    515000 | PA      | $515086.21    | 0.43%             | 2025-10-24      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK NY                               | Toronto-Dominion Bank/NY                               | CUSIP: 89115DNQ5<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | CA        |    390000 | PA      | $391469.02    | 0.32%             | 2026-07-27      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE                                | Walt Disney Co/The                                     | CUSIP: 254687DQ6<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1080560.00   | 0.89%             | 2028-06-30      | Fixed         | 7.28%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                                 | ConocoPhillips Co                                      | CUSIP: 20826FBV7<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |    525000 | PA      | $528045.00    | 0.44%             | 2027-07-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                           | Synopsys Inc                                           | CUSIP: 871607AA5<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    750000 | PA      | $754995.00    | 0.62%             | 2027-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK NY                               | Toronto-Dominion Bank/NY                               | CUSIP: 89115DRB4<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | CA        |    210000 | PA      | $210119.47    | 0.17%             | 2026-03-18      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| MACQUARIE BANK LIMITED                                 | Macquarie Bank Ltd                                     | CUSIP: 55607KZ90<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | STIV             | CORP              | AU        |    400000 | PA      | $396855.20    | 0.33%             | 2025-12-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                            | Oracle Corp                                            | CUSIP: 68389XCD5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    500000 | PA      | $478090.00    | 0.39%             | 2028-03-25      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                           | Broadcom Inc                                           | CUSIP: 11135FBZ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254377.50    | 0.21%             | 2027-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                       | Deutsche Bank AG/New York NY                           | CUSIP: 25152XXR6<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | STIV             | CORP              | DE        |   1108000 | PA      | $1108719.87   | 0.92%             | 2026-02-05      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                 | Mizuho Financial Group Inc                             | CUSIP: 60687YBP3<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |   1100000 | PA      | $1078968.00   | 0.89%             | 2027-05-22      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| Barclays Capital Securities Ltd.                       | TRI-PARTY BARCLAYS BANK PLC/XI                         | CUSIP: 000000000<br>LEI: K9WDOH4D2PYBSLSOB484 | Long             | RA               | CORP              | GB        |   2000000 | PA      | $2000000.00   | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF CANADA                                | National Bank of Canada                                | CUSIP: 63307MB57<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | STIV             | CORP              | CA        |    250000 | PA      | $246466.95    | 0.20%             | 2026-02-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                    | Bank of Nova Scotia/The                                | CUSIP: 064159QE9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    600000 | PA      | $593574.00    | 0.49%             | 2026-08-03      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK                                  | Toronto-Dominion Bank/The                              | CUSIP: 89119AX94<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | CA        |    500000 | PA      | $499487.50    | 0.41%             | 2025-10-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANK CORP MKTS/NY                               | Lloyds Bank Corporate Markets PLC/New York NY          | CUSIP: 53948BB99<br>LEI: 213800MBWEIJDM5CU638 | Long             | STIV             | CORP              | US        |    800000 | PA      | $788301.84    | 0.65%             | 2026-02-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-24

**Name of Applicant:** SCHWAB STRATEGIC TRUST

**Signature:** Dana Smith

**Name of Signer:** Dana Smith

**Title:** CFO