# EDGAR Filing Document

**Accession Number:** 0001454889
**File Stem:** 0001410368-25-031499
**Filing Date:** 2025-11
**Character Count:** 239461
**Document Hash:** a1923b7ab146257f0e69741de211e810
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-031499.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-031499

**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:** 251524326

**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 Core Bond ETF (Series ID: S000089699)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000256323 | Schwab Core Bond ETF | SCCR            |

## Nport-Ex

Schwab Strategic Trust

Schwab Core Bond 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. 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.

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **CORPORATES** 29.2% OF NET ASSETS | **CORPORATES** 29.2% OF NET ASSETS | **CORPORATES** 29.2% OF NET ASSETS |
| **Financial Institutions 11.2%** | **Financial Institutions 11.2%** | **Financial Institutions 11.2%** |
| ***Banking 9.1%***  | ***Banking 9.1%***  | ***Banking 9.1%***  |
| **American Express Co.** | **American Express Co.** | **American Express Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/16/28 *(a)(b)* | 4525000 | 4586857 |
| **Bank of America Corp.** | **Bank of America Corp.** | **Bank of America Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/27/28 *(a)(b)* | 5310000 | 5330868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 01/23/35 *(a)(b)* | 4735000 | 4949164 |
| **Capital One Financial Corp.** | **Capital One Financial Corp.** | **Capital One Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 11/02/27 *(a)(b)* | 3845000 | 3747375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/26/30 *(a)(b)* | 4350000 | 4470451 |
| **Citigroup, Inc.** | **Citigroup, Inc.** | **Citigroup, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 02/13/30 *(a)(b)* | 5355000 | 5496479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 06/03/31 *(a)(b)* | 4670000 | 4298361 |
| **Goldman Sachs Group, Inc.** | **Goldman Sachs Group, Inc.** | **Goldman Sachs Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 02/07/30 *(b)* | 5875000 | 5504992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 10/31/38 *(a)(b)* | 5150000 | 4617953 |
| **JPMorgan Chase & Co.** | **JPMorgan Chase & Co.** | **JPMorgan Chase & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 01/24/31 *(a)(b)* | 4440000 | 4587142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/24/38 *(a)(b)* | 6440000 | 5803213 |
| **Morgan Stanley** | **Morgan Stanley** | **Morgan Stanley** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 02/01/29 *(a)(b)* | 5360000 | 5475026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 01/18/36 *(a)(b)* | 3530000 | 3699617 |
| **PNC Financial Services Group, Inc.** | **PNC Financial Services Group, Inc.** | **PNC Financial Services Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/20/34 *(a)(b)* | 4065000 | 4608125 |
| **U.S. Bancorp** | **U.S. Bancorp** | **U.S. Bancorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.22%, 01/27/28 *(a)(b)* | 5650000 | 5505981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 07/22/30 *(b)* | 5260000 | 4616755 |
| **Wells Fargo & Co.** | **Wells Fargo & Co.** | **Wells Fargo & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/24/29 *(b)* | 4590000 | 4589679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.07%, 04/30/41 *(a)(b)* | 5975000 | 4640723 |
|  |  | **86528761** |
| ***Brokerage/Asset Managers/Exchanges 0.5%***  | ***Brokerage/Asset Managers/Exchanges 0.5%***  | ***Brokerage/Asset Managers/Exchanges 0.5%***  |
| **Brookfield Finance, Inc.** | **Brookfield Finance, Inc.** | **Brookfield Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 01/25/28 *(b)* | 4600000 | **4567524** |
| ***Financial Other 0.5%***  | ***Financial Other 0.5%***  | ***Financial Other 0.5%***  |
| **Idaho Housing & Finance Association** | **Idaho Housing & Finance Association** | **Idaho Housing & Finance Association** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 01/01/31  | 1325000 | 1318427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.23%, 07/01/31  | 1395000 | 1387054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/01/32  | 500000 | 511550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 01/01/33  | 400000 | 397128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/01/33  | 415000 | 412990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/01/33  | 675000 | 670153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 07/01/33  | 500000 | 514336 |
| **Iowa Finance Authority** | **Iowa Finance Authority** | **Iowa Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 01/01/31  | 100000 | 102260 |
|  |  | **5313898** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| ***Insurance 0.5%***  | ***Insurance 0.5%***  | ***Insurance 0.5%***  |
| **UnitedHealth Group, Inc.** | **UnitedHealth Group, Inc.** | **UnitedHealth Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/15/33 *(b)* | 4430000 | **4634223** |
| ***REITs 0.6%***  | ***REITs 0.6%***  | ***REITs 0.6%***  |
| **Simon Property Group LP** | **Simon Property Group LP** | **Simon Property Group LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/26/34 *(b)* | 5495000 | **5461810** |
|  |  | **106506216** |
| **Industrial 17.5%** | **Industrial 17.5%** | **Industrial 17.5%** |
| ***Basic Industry 0.9%***  | ***Basic Industry 0.9%***  | ***Basic Industry 0.9%***  |
| **Freeport-McMoRan, Inc.** | **Freeport-McMoRan, Inc.** | **Freeport-McMoRan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/43 *(b)* | 4755000 | 4578161 |
| **Rio Tinto Finance USA PLC** | **Rio Tinto Finance USA PLC** | **Rio Tinto Finance USA PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/14/35 *(b)* | 3530000 | 3640101 |
|  |  | **8218262** |
| ***Capital Goods 2.3%***  | ***Capital Goods 2.3%***  | ***Capital Goods 2.3%***  |
| **Boeing Co.** | **Boeing Co.** | **Boeing Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 05/01/40 *(b)* | 2800000 | 2860256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 05/01/50 *(b)* | 3750000 | 3749475 |
| **Caterpillar, Inc.** | **Caterpillar, Inc.** | **Caterpillar, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 05/15/35 *(b)* | 2710000 | 2806124 |
| **General Electric Co.** | **General Electric Co.** | **General Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/32  | 2340000 | 2663224 |
| **Honeywell International, Inc.** | **Honeywell International, Inc.** | **Honeywell International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/35 *(b)* | 4560000 | 4636380 |
| **RTX Corp.** | **RTX Corp.** | **RTX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 03/15/54 *(b)* | 4960000 | 5555299 |
|  |  | **22270758** |
| ***Communications 1.9%***  | ***Communications 1.9%***  | ***Communications 1.9%***  |
| **AT&T, Inc.** | **AT&T, Inc.** | **AT&T, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/01/32 *(b)* | 3955000 | 3464066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 09/15/55 *(b)* | 5420000 | 3736277 |
| **Netflix, Inc.** | **Netflix, Inc.** | **Netflix, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/28  | 4280000 | 4513517 |
| **T-Mobile USA, Inc.** | **T-Mobile USA, Inc.** | **T-Mobile USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/15/41 *(b)* | 4400000 | 3304928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/50 *(b)* | 4130000 | 3479318 |
|  |  | **18498106** |
| ***Consumer Cyclical 2.4%***  | ***Consumer Cyclical 2.4%***  | ***Consumer Cyclical 2.4%***  |
| **Amazon.com, Inc.** | **Amazon.com, Inc.** | **Amazon.com, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 08/22/47 *(b)* | 5565000 | 4712219 |
| **American Honda Finance Corp.** | **American Honda Finance Corp.** | **American Honda Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/01/28  | 5000000 | 5014100 |

---

**1**

------

Schwab Core Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Honda Motor Co. Ltd.** | **Honda Motor Co. Ltd.** | **Honda Motor Co. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 07/08/30 *(b)* | 4520000 | 4562669 |
| **Lowe's Cos., Inc.** | **Lowe's Cos., Inc.** | **Lowe's Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 09/15/28 *(b)* | 4880000 | 4562117 |
| **Target Corp.** | **Target Corp.** | **Target Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/35 *(b)* | 4480000 | 4537075 |
|  |  | **23388180** |
| ***Consumer Non-Cyclical 3.4%***  | ***Consumer Non-Cyclical 3.4%***  | ***Consumer Non-Cyclical 3.4%***  |
| **AbbVie, Inc.** | **AbbVie, Inc.** | **AbbVie, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/21/39 *(b)* | 4655000 | 4170461 |
| **Anheuser-Busch InBev Finance, Inc.** | **Anheuser-Busch InBev Finance, Inc.** | **Anheuser-Busch InBev Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/01/46 *(b)* | 4015000 | 3754467 |
| **CommonSpirit Health** | **CommonSpirit Health** | **CommonSpirit Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 11/01/42  | 5325000 | 4610864 |
| **CVS Health Corp.** | **CVS Health Corp.** | **CVS Health Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/25/28 *(b)* | 3660000 | 3662745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/21/33 *(b)* | 4530000 | 4635459 |
| **GE HealthCare Technologies, Inc.** | **GE HealthCare Technologies, Inc.** | **GE HealthCare Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/14/29 *(b)* | 4480000 | 4570048 |
| **Pfizer Investment Enterprises Pte. Ltd.** | **Pfizer Investment Enterprises Pte. Ltd.** | **Pfizer Investment Enterprises Pte. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/19/53 *(b)* | 5820000 | 5630035 |
| **Providence St. Joseph Health Obligated Group** | **Providence St. Joseph Health Obligated Group** | **Providence St. Joseph Health Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 10/01/32 *(b)* | 1000000 | 1030850 |
|  |  | **32064929** |
| ***Energy 1.7%***  | ***Energy 1.7%***  | ***Energy 1.7%***  |
| **Cheniere Energy Partners LP** | **Cheniere Energy Partners LP** | **Cheniere Energy Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/01/29 *(b)* | 4510000 | 4499447 |
| **Devon Energy Corp.** | **Devon Energy Corp.** | **Devon Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/34 *(b)* | 2390000 | 2381516 |
| **EQT Corp.** | **EQT Corp.** | **EQT Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 10/01/27 *(b)* | 4560000 | 4531454 |
| **Kinder Morgan, Inc.** | **Kinder Morgan, Inc.** | **Kinder Morgan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/01/30 *(b)* | 4380000 | 4520773 |
|  |  | **15933190** |
| ***Industrial Other 0.1%***  | ***Industrial Other 0.1%***  | ***Industrial Other 0.1%***  |
| **Harris County Cultural Education Facilities Finance Corp.** | **Harris County Cultural Education Facilities Finance Corp.** | **Harris County Cultural Education Facilities Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.51%, 11/15/27  | 220000 | 212830 |
| **New Jersey Educational Facilities Authority** | **New Jersey Educational Facilities Authority** | **New Jersey Educational Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.44%, 09/01/27  | 475000 | 467703 |
| **Texas Tech University System** | **Texas Tech University System** | **Texas Tech University System** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.62%, 02/15/29  | 200000 | 204244 |
|  |  | **884777** |
| ***Technology 4.3%***  | ***Technology 4.3%***  | ***Technology 4.3%***  |
| **Broadcom, Inc.** | **Broadcom, Inc.** | **Broadcom, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/15/29 *(b)* | 1865000 | 1903232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/15/30 *(b)* | 2770000 | 2863931 |
| **Cisco Systems, Inc.** | **Cisco Systems, Inc.** | **Cisco Systems, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 02/15/39  | 3410000 | 3706875 |
| **Fiserv, Inc.** | **Fiserv, Inc.** | **Fiserv, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/01/29 *(b)* | 2100000 | 2041893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/21/33 *(b)* | 2930000 | 3078111 |
| **Micron Technology, Inc.** | **Micron Technology, Inc.** | **Micron Technology, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 11/01/35 *(b)* | 3560000 | 3806210 |
| **NXP BV/NXP Funding LLC/NXP USA, Inc.** | **NXP BV/NXP Funding LLC/NXP USA, Inc.** | **NXP BV/NXP Funding LLC/NXP USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/33 *(b)* | 2880000 | 2918736 |
| **Oracle Corp.** | **Oracle Corp.** | **Oracle Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/26/30 *(b)* | 1000000 | 999970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/26/32 *(b)* | 1000000 | 1001790 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/47 *(b)* | 6625000 | 5137157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 09/26/65 *(b)* | 5000000 | 4999300 |
| **QUALCOMM, Inc.** | **QUALCOMM, Inc.** | **QUALCOMM, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/20/45 *(b)* | 4970000 | 4662755 |
| **Synopsys, Inc.** | **Synopsys, Inc.** | **Synopsys, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/01/30 *(b)* | 4395000 | 4479164 |
|  |  | **41599124** |
| ***Transportation 0.5%***  | ***Transportation 0.5%***  | ***Transportation 0.5%***  |
| **United Airlines 2020-1 Class A Pass-Through Trust** | **United Airlines 2020-1 Class A Pass-Through Trust** | **United Airlines 2020-1 Class A Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/15/29  | 4512725 | **4620714** |
|  |  | **167478040** |
| **Utility 0.5%** | **Utility 0.5%** | **Utility 0.5%** |
| ***Electric 0.5%***  | ***Electric 0.5%***  | ***Electric 0.5%***  |
| **Florida Power & Light Co.** | **Florida Power & Light Co.** | **Florida Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/03/32 *(b)* | 1660000 | 1491659 |
| **NextEra Energy Capital Holdings, Inc.** | **NextEra Energy Capital Holdings, Inc.** | **NextEra Energy Capital Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/28/53 *(b)* | 3590000 | 3402459 |
|  |  | **4894118** |
| **Total Corporates**<br> **(Cost $275,230,370)** | **Total Corporates**<br> **(Cost $275,230,370)** | **278878374** |
| **TREASURIES** 18.8% OF NET ASSETS | **TREASURIES** 18.8% OF NET ASSETS | **TREASURIES** 18.8% OF NET ASSETS |
| **U.S. Treasury Bonds** | **U.S. Treasury Bonds** | **U.S. Treasury Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/45  | 20100000 | 20880446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/55  | 12240000 | 12034406 |
| **U.S. Treasury Notes** | **U.S. Treasury Notes** | **U.S. Treasury Notes** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/30/27  | 39150000 | 39223406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/15/28  | 54400000 | 54406375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/31/30  | 40000000 | 39801562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/31/32  | 13200000 | 13264969 |
| **Total Treasuries**<br> **(Cost $179,601,515)** | **Total Treasuries**<br> **(Cost $179,601,515)** | **179611164** |
| **GOVERNMENT RELATED** 18.6% OF NET ASSETS | **GOVERNMENT RELATED** 18.6% OF NET ASSETS | **GOVERNMENT RELATED** 18.6% OF NET ASSETS |
| **Local Authority 18.6%** | **Local Authority 18.6%** | **Local Authority 18.6%** |
| **U.S. 18.6%** | **U.S. 18.6%** | **U.S. 18.6%** |
| **American Municipal Power, Inc.** |  |  |
| RB Series 2019D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.91%, 02/15/30  | 300000 | 281776 |
| **Broomfield Urban Renewal Authority** |  |  |
| Tax Allocation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 12/01/30  | 515000 | 531421 |
| **Burbank-Glendale-Pasadena Airport Authority** <br> **Brick Campaign**<br>|  |  |
| RB Series 2012B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 07/01/41  | 245000 | 261805 |
| **California Health Facilities Financing Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.58%, 06/01/29  | 225000 | 214456 |
| **California State University** |  |  |
| RB Series 2020B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.98%, 11/01/51 *(b)* | 1010000 | 695118 |
| **City of Asheville** |  |  |
| RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 04/01/33  | 550000 | 570892 |
| RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 04/01/36 *(b)* | 625000 | 648559 |

---

**2**

------

Schwab Core Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **City of Atlanta Airport Customer Facility Charge** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 07/01/35  | 500000 | 505953 |
| **City of Austin** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 09/01/37 *(b)(c)* | 1070000 | 1060512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 09/01/37 *(b)(c)* | 750000 | 743348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 09/01/38 *(b)(c)* | 2285000 | 2265868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 09/01/38 *(b)(c)* | 890000 | 882548 |
| **City of Charlotte** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 06/01/38 *(b)* | 500000 | 516484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/01/42 *(b)* | 6460000 | 6663238 |
| **City of Chula Vista** |  |  |
| RB 2021 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.83%, 06/01/31  | 1685000 | 1467938 |
| **City of Garland** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.39%, 02/15/31  | 650000 | 655602 |
| **City of Glendale** |  |  |
| COP 2021 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.32%, 07/01/31  | 1000000 | 898555 |
| COP 2021 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.94%, 07/01/37 *(b)* | 750000 | 613583 |
| **City of Houston Combined Utility System Revenue** |  |  |
| RB Series 2019 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.36%, 11/15/30 *(b)* | 205000 | 188833 |
| **City of Kansas City** |  |  |
| RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 04/01/39 *(b)* | 2140000 | 2201140 |
| **City of Lakeland** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.61%, 10/01/28  | 400000 | 405837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 10/01/30  | 400000 | 408871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 10/01/31  | 410000 | 419945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 10/01/32  | 400000 | 410309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 10/01/33  | 415000 | 427518 |
| **City of Modesto Wastewater Revenue** |  |  |
| RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.23%, 11/01/32 *(b)* | 350000 | 305677 |
| **City of New York** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/01/34  | 1365000 | 1445685 |
| GO Bonds Series 2023 B-2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.98%, 10/01/38 *(b)* | 1095000 | 1167886 |
| **City of Oakland** |  |  |
| GO Bonds Series2023 A-2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/15/31  | 195000 | 207088 |
| **City of Ogden City Sewer & Water Revenue** |  |  |
| RB Series 2020 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.55%, 06/15/27  | 305000 | 293924 |
| **City of Philadelphia** |  |  |
| GO Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 08/01/30  | 550000 | 563827 |
| GO Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/01/32  | 2260000 | 2332858 |
| **City of Shelbyville** |  |  |
| GO Bonds Series 2021 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 08/01/27  | 235000 | 222181 |
| **City of Trussville** |  |  |
| GO Bonds Series 2020 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.26%, 10/01/27  | 220000 | 209340 |
| **City of Watertown** |  |  |
| GO Bonds Series 2020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 06/01/27  | 290000 | 281393 |
| **City of Worcester** |  |  |
| GO Bonds Series 1998 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/01/28  | 1280000 | 1318999 |
| **Colorado Health Facilities Authority** |  |  |
| RB Series 2019B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/01/44  | 1690000 | 1367139 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Colorado Housing & Finance Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.51%, 11/01/30  | 250000 | 253242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 11/01/32  | 350000 | 356568 |
| **Commonwealth Financing Authority** |  |  |
| RB Series 2019A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.81%, 06/01/41  | 805000 | 692815 |
| RB Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.86%, 06/01/38  | 660000 | 607533 |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.14%, 06/01/38  | 60000 | 56435 |
| **Connecticut Housing Finance Authority** |  |  |
| RB Series 2025 B-3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/15/31  | 205000 | 207211 |
| **County of Franklin** |  |  |
| RB Series 2019 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/01/50  | 660000 | 453081 |
| **County of Harris Hotel Occupancy Tax Revenue** |  |  |
| RB 2024 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 08/15/37 *(b)* | 735000 | 728248 |
| **County of Miami-Dade** |  |  |
| RB Series 2009 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.08%, 10/01/29  | 150000 | 165777 |
| **County of Miami-Dade Seaport Department** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.96%, 10/01/30  | 2500000 | 2249398 |
| **County of Pima** |  |  |
| RB Series 2021 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.03%, 05/01/31  | 215000 | 192500 |
| **County of Pinal** |  |  |
| RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 08/01/36 *(b)* | 385000 | 400529 |
| **County of Riverside** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 02/15/35  | 3135000 | 3235477 |
| **County of St. Louis** |  |  |
| RB Series 2020 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 12/01/27  | 435000 | 418856 |
| **Dallas Fort Worth International Airport** |  |  |
| RB Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.09%, 11/01/51  | 465000 | 382354 |
| **District of Columbia** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/35 *(b)* | 510000 | 541546 |
| **District of Columbia Income Tax Revenue** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 06/01/40 *(b)* | 500000 | 512511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 06/01/45 *(b)* | 2470000 | 2556887 |
| **Golden State Tobacco Securitization Corp.** |  |  |
| RB Series 2021 A-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.33%, 06/01/27  | 890000 | 861464 |
| RB Series 2021 A-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 06/01/28  | 1875000 | 1786573 |
| RB Series 2021 A-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.59%, 06/01/29  | 1085000 | 1014635 |
| **Illinois Housing Development Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 04/01/33  | 945000 | 960906 |
| RB Series 2025 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 10/01/31  | 500000 | 504470 |
| RB Series 2025 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/01/33 *(b)* | 500000 | 508032 |
| **Indiana Finance Authority** |  |  |
| RB Series 2022 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.31%, 03/01/52 *(b)* | 1000000 | 834508 |
| **Indiana Housing & Community Development** <br> **Authority**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.83%, 01/01/31  | 200000 | 205872 |
| **JobsOhio Beverage System** |  |  |
| Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.53%, 01/01/35  | 820000 | 822787 |

---

**3**

------

Schwab Core Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Kansas Development Finance Authority** |  |  |
| RB Series 2021 K |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.52%, 05/01/28  | 215000 | 201989 |
| RB Series H |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 04/15/45  | 1235000 | 1211681 |
| **Kentucky State Property & Building Commission** |  |  |
| RB Series 2021 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.22%, 09/01/31  | 965000 | 858835 |
| **Lawton Industrial Development Authority** |  |  |
| Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 07/01/26  | 300000 | 299858 |
| Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/27  | 400000 | 399332 |
| Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/01/29  | 400000 | 398341 |
| Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/01/31  | 400000 | 397731 |
| Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 07/01/32  | 400000 | 396879 |
| Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/01/33  | 400000 | 397147 |
| Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/01/35  | 400000 | 396888 |
| **Los Angeles Community College District** |  |  |
| GO Bonds 2004 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 08/01/29  | 1425000 | 1474265 |
| **Los Angeles Unified School District** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.21%, 10/01/27  | 250000 | 252069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 10/01/30  | 525000 | 536219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 10/01/32  | 750000 | 769871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 10/01/33  | 750000 | 774536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 10/01/39 *(b)* | 8205000 | 8388849 |
| **Maine Health & Higher Educational Facilities** <br> **Authority**<br>|  |  |
| RB Series 2021 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.86%, 07/01/28  | 300000 | 283513 |
| **Maryland Department of Housing & Community** <br> **Development**<br>|  |  |
| RB Series 2025 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 09/01/32  | 670000 | 686308 |
| **Massachusetts Housing Finance Agency** |  |  |
| RB Series 2025 243 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/01/31  | 500000 | 507865 |
| RB Series 2025 243 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 06/01/33  | 500000 | 507867 |
| **McKinney Economic Development Corp. Sales Tax** <br> **Revenue**<br>|  |  |
| RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 09/01/33  | 200000 | 208622 |
| **Michigan Finance Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 09/01/49 *(b)(d)* | 535000 | 526457 |
| **Michigan State Housing Development Authority** |  |  |
| RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.29%, 06/01/31 *(c)* | 675000 | 677023 |
| RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 06/01/33 *(c)* | 375000 | 376076 |
| **Minnesota Housing Finance Agency** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 07/01/29  | 770000 | 787149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.17%, 01/01/31 *(c)* | 635000 | 632792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 01/01/31  | 835000 | 861197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 07/01/33 *(c)* | 790000 | 786149 |
| RB Series 2025 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 01/01/32  | 500000 | 508192 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Montgomery County Housing Opportunities** <br> **Commission**<br>|  |  |
| RB Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 12/01/37 *(b)* | 500000 | 507560 |
| RB Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 12/01/29  | 250000 | 254398 |
| **Nebraska Investment Finance Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/01/33  | 285000 | 294095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/01/34 *(b)* | 1630000 | 1682145 |
| **New Hampshire Business Finance Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/01/35  | 2030000 | 2149049 |
| **New Hampshire Housing Finance Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.19%, 01/01/31 *(c)* | 760000 | 756185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.24%, 07/01/31 *(c)* | 755000 | 750751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 01/01/33 *(c)* | 450000 | 447246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 07/01/33 *(c)* | 475000 | 472088 |
| **New Jersey Economic Development Authority** |  |  |
| RB Series 2019 NNN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.87%, 06/15/33  | 645000 | 617175 |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.43%, 02/15/29  | 2323000 | 2443104 |
| **New York City Housing Development Corp.** |  |  |
| RB Series 2020 F1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.24%, 05/01/30 *(b)* | 235000 | 215649 |
| **New York City Transitional Finance Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 05/01/31  | 1050000 | 1086936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 05/01/33  | 1005000 | 1053117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.66%, 05/01/40 *(b)* | 1000000 | 1044875 |
| RB Series 2025 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/01/27  | 275000 | 279801 |
| **New York City Transitional Finance Authority** <br> **Future Tax Secured Revenue**<br>|  |  |
| RB Series 2018 C-5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 05/01/30 *(b)* | 230000 | 228027 |
| **New York State Dormitory Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 07/01/35  | 7000000 | 7288204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.99%, 07/01/45 *(b)* | 1840000 | 1923220 |
| **New York State Thruway Authority** |  |  |
| RB Series 2019 M |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/01/42 *(b)* | 290000 | 243753 |
| **North Dakota Housing Finance Agency** |  |  |
| RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 01/01/31  | 475000 | 489741 |
| **Oregon State Lottery** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.46%, 04/01/30  | 250000 | 254675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/01/38 *(b)* | 500000 | 520776 |
| **Pennsylvania Economic Development Financing** <br> **Authority**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.62%, 03/01/29  | 1855000 | 1769395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 06/01/34  | 440000 | 454635 |
| RB Series 2021 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.97%, 06/15/28  | 1055000 | 1001624 |
| RB Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.72%, 06/01/29  | 150000 | 153206 |
| RB Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/01/31  | 210000 | 215968 |
| **Pennsylvania State University** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 09/01/36  | 350000 | 361031 |
| **Philadelphia Authority for Industrial Development** |  |  |
| RB Series 1999 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 10/15/28  | 1740000 | 1854469 |
| **Port Authority of New York & New Jersey** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/01/40  | 310000 | 332638 |
| RB Series 2019 215 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.29%, 08/01/69  | 300000 | 194384 |

---

**4**

------

Schwab Core Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Public Finance Authority** |  |  |
| RB Series 2017A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.11%, 07/01/27  | 300000 | 296528 |
| **Redondo Beach Community Financing Authority** |  |  |
| RB Series 2021 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.09%, 05/01/30  | 525000 | 478245 |
| **Rhode Island Housing & Mortgage Finance Corp.** |  |  |
| RB Series 2025 85 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 10/01/33 *(b)* | 500000 | 507721 |
| **Rockwall Independent School District** |  |  |
| GO Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/15/53 *(b)* | 1500000 | 1363622 |
| **Rutgers The State University of New Jersey** |  |  |
| Series R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.27%, 05/01/43  | 1290000 | 1057554 |
| **Sales Tax Securitization Corp.** |  |  |
| RB Series 2017 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.28%, 01/01/29  | 1015000 | 990642 |
| RB Series 2024 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 01/01/39 *(b)* | 4030000 | 4068664 |
| **San Jose Financing Authority** |  |  |
| Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.86%, 06/01/38 *(b)* | 7395000 | 5894983 |
| **South Carolina Public Service Authority** |  |  |
| RB Series 2009 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 01/01/30  | 920000 | 954312 |
| RB Series 2012 E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 12/01/30  | 1195000 | 1214573 |
| RB Series 2025 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 12/01/28  | 350000 | 356142 |
| RB Series 2025 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 12/01/32  | 125000 | 128605 |
| **Southwestern Illinois Community College District** <br> **No. 522**<br>|  |  |
| Refunding GO Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 12/01/29  | 650000 | 652878 |
| Refunding GO Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 12/01/30  | 800000 | 805786 |
| Refunding GO Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/01/31  | 1300000 | 1312320 |
| Refunding GO Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/01/32  | 850000 | 858971 |
| **Southwestern Illinois Development Authority** |  |  |
| RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 04/01/31  | 400000 | 413831 |
| **State Board of Administration Finance Corp.** |  |  |
| RB Series 2024 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 07/01/34 *(b)* | 9095000 | 9485949 |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.71%, 07/01/27  | 945000 | 909524 |
| **State of California** |  |  |
| GO Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/01/35  | 3505000 | 3648610 |
| GO Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/01/38 *(b)* | 1305000 | 1320888 |
| **State of Connecticut** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 03/15/30  | 250000 | 257089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/35  | 200000 | 210476 |
| GO Bonds Series 2008A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 03/15/32  | 495000 | 532606 |
| **State of Hawaii** |  |  |
| GO Bonds Series 2021 GN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 10/01/41 *(b)* | 205000 | 206003 |
| **State of Illinois** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/01/28  | 9760000 | 9749186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/01/31  | 3010000 | 3024279 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| GO Bonds (Pension Funding) Series 2003 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/01/33  | 2351520 | 2382139 |
| GO Bonds Series 2024 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 10/01/32  | 295000 | 295453 |
| **State of Oregon** |  |  |
| GO Bonds (Pension Funding) Series 2003 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.89%, 06/01/27  | 441516 | 451272 |
| **Toledo Lucas County Public Library** |  |  |
| GO Bonds Series 2025 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 12/01/38 *(b)* | 750000 | 765437 |
| **University of Michigan** |  |  |
| RB Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/01/47  | 1360000 | 1155747 |
| **University of North Texas System** |  |  |
| RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.31%, 04/15/39 *(b)* | 320000 | 324963 |
| **Utah Housing Corp.** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 01/01/31  | 270000 | 277757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/01/33  | 825000 | 857743 |
| RB Series 2025 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 01/01/34 *(b)* | 360000 | 364746 |
| **Vermont Housing Finance Agency** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.36%, 11/01/33  | 230000 | 236517 |
| RB Series 2025 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 11/01/34 *(b)* | 135000 | 137364 |
| **Virginia Housing Development Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.19%, 01/01/31 *(c)* | 650000 | 646615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 07/01/31 *(c)* | 955000 | 949661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 01/01/32 *(c)* | 1915000 | 1902152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.37%, 07/01/32 *(c)* | 1590000 | 1580132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 01/01/33 *(c)* | 660000 | 656145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 07/01/33 *(c)* | 500000 | 497179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 01/01/34 *(b)(c)* | 500000 | 497360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 07/01/34 *(b)(c)* | 650000 | 646771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 01/01/35 *(b)(c)* | 960000 | 955497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 07/01/35 *(b)(c)* | 890000 | 886060 |
|  |  | **178176638** |
| **Total Government Related**<br> **(Cost $175,897,641)** | **Total Government Related**<br> **(Cost $175,897,641)** | **178176638** |
| **SECURITIZED** 32.3% OF NET ASSETS | **SECURITIZED** 32.3% OF NET ASSETS | **SECURITIZED** 32.3% OF NET ASSETS |
| **Mortgage-Backed Securities Pass-Through 32.3%** | **Mortgage-Backed Securities Pass-Through 32.3%** | **Mortgage-Backed Securities Pass-Through 32.3%** |
| **Federal Home Loan Mortgage Corp.** | **Federal Home Loan Mortgage Corp.** | **Federal Home Loan Mortgage Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/01/36 to 08/01/52 *(b)* | 20011470 | 16820578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 10/01/31 to 04/01/52 *(b)* | 14426874 | 12646442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 04/01/50 to 11/01/52 *(b)* | 2898383 | 2565071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/01/52 to 11/01/54 *(b)* | 1688544 | 1547912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/01/52 to 09/01/52 *(b)* | 5147756 | 4873101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/01/52 to 01/01/55 *(b)* | 14789392 | 14392164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/52 to 12/01/54 *(b)* | 16151272 | 16092580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/01/53 to 05/01/55 *(b)* | 15660392 | 15829252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/01/53 to 05/01/55 *(b)* | 9372245 | 9609286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 12/01/53 to 06/01/55 *(b)* | 5163378 | 5389564 |
| **Federal National Mortgage Association** | **Federal National Mortgage Association** | **Federal National Mortgage Association** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 01/01/37 to 10/01/52 *(b)* | 25701175 | 21453397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 10/01/35 to 12/01/51 *(b)* | 8699669 | 7817820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/01/51 to 09/01/52 *(b)* | 7460142 | 6636912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/50 to 10/01/52 *(b)* | 7942800 | 7329344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/01/51 to 08/01/55 *(b)* | 24567206 | 23247414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/01/52 to 01/01/53 *(b)* | 12791274 | 12471687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/53 to 06/01/55 *(b)* | 15898089 | 15803191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/01/52 to 08/01/55 *(b)* | 7528201 | 7602670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 07/01/53 to 05/01/55 *(b)* | 12569632 | 12855002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 08/01/54 to 08/01/55 *(b)* | 3133185 | 3241081 |

---

**5**

------

Schwab Core Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Government National Mortgage Association** | **Government National Mortgage Association** | **Government National Mortgage Association** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/20/50 to 06/20/52 *(b)* | 15414764 | 13285468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/20/49 to 09/20/52 *(b)* | 10375312 | 9282309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/20/50 to 01/20/53 *(b)* | 10517593 | 9684302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/20/48 to 01/20/55 *(b)* | 28933929 | 27381218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/20/48 to 07/20/53 *(b)* | 17305320 | 16899426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/20/54 to 08/20/55 *(b)* | 8639561 | 8720817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/20/54 to 08/20/55 *(b)* | 4583136 | 4668863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/20/54 to 08/20/54 *(b)* | 314520 | 323621 |
| **Total Securitized**<br> **(Cost $306,179,530)** | **Total Securitized**<br> **(Cost $306,179,530)** | **308470492** |

---

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

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **Short-Term Investments** 2.3% OF NET ASSETS | **Short-Term Investments** 2.3% OF NET ASSETS | **Short-Term Investments** 2.3% OF NET ASSETS |
| **Money Market Funds 2.3%** | **Money Market Funds 2.3%** | **Money Market Funds 2.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government <br> Money Market Fund, Premier Class <br> 4.09% *(e)*<br>| 21584252 | **21584252** |
| **Total Short-Term Investments**<br> **(Cost $21,584,252)** | **Total Short-Term Investments**<br> **(Cost $21,584,252)** | **21584252** |
| **Total Investments in Securities**<br> **(Cost $958,493,308)** | **Total Investments in Securities**<br> **(Cost $958,493,308)** | **966720920** |

---

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* 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).

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* Security or a portion of the security purchased on a delayed-delivery or when-issued basis.

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* Bond currently pays a fixed coupon rate and will be remarketed at a to be determined rate at the end of the current fixed rate term.

&nbsp;&nbsp;&nbsp;&nbsp;*(e)* The rate shown is the annualized 7-day yield.

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

---

| | |
|:---|:---|
| COP — | Certificate of participation |
| GO — | General obligation |
| RB — | Revenue bond |
| REIT — | Real Estate Investment Trust |

---

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

------

The following is a summary of the inputs used to value the fund's investments as of September 30, 2025 (see notes to portfolio holdings for additional information):

---

| | | | | |
|:---|:---|:---|:---|:---|
| DESCRIPTION | QUOTED PRICES IN<br> ACTIVE MARKETS FOR<br> IDENTICAL ASSETS<br> (LEVEL 1)<br>| &nbsp;&nbsp; OTHER SIGNIFICANT<br> OBSERVABLE INPUTS<br> (LEVEL 2)<br>| &nbsp;&nbsp; SIGNIFICANT<br> UNOBSERVABLE INPUTS<br> (LEVEL 3)<br>| TOTAL |
| **Assets** |  |  |  |  |
| Corporates<sup>1</sup> <br>| $— | &nbsp;&nbsp;&nbsp; $278878374 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $278878374 |
| Treasuries<sup>1</sup> <br>|  | &nbsp;&nbsp;&nbsp; 179611164 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 179611164 |
| Government Related<sup>1</sup> <br>|  | &nbsp;&nbsp;&nbsp; 178176638 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 178176638 |
| Securitized<sup>1</sup> <br>|  | &nbsp;&nbsp;&nbsp; 308470492 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 308470492 |
| Short-Term Investments<sup>1</sup> <br>| 21584252 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 21584252 |
| **Total** | **$21584252** | &nbsp;&nbsp; **$945136668** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$966720920** |

---

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

<sup>1</sup> As categorized in the Portfolio Holdings.

**6**

------

Schwab Core Bond 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;● **Mutual funds:** Mutual funds are valued at their respective net asset values (NAVs).

&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 funds disclose the fair value of their 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

**7**

------

Schwab Core Bond ETF

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

------

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.

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.

REG127738SEP25

**8**

------

## 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 Core Bond ETF

- **b. EDGAR series identifier (if any):** S000089699

- **c. LEI of Series:** 254900BQL27NJ8TXFS89

**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:** $976667360.30

**Total Liabilities:** $21418967.38

**Net Assets:** $955248392.92

**Delayed Delivery Securities:** $19180000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2.16000000 | **1-Year:** 2396.85000000 | **5-Year:** 43929.17000000 | **10-Year:** 144565.12000000 | **30-Year:** 284222.71000000

**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 C000256323 | -0.12%               | 1.32%                | 1.17%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11970.38                | $-1489697.18                               |
| Month 2  | $33347.13                | $2911321.05                                |
| Month 3  | $2118558.55              | $4466563.59                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BANK OF AMERICA CORP                                                    | Bank of America Corp                                                    | CUSIP: 06051GKP3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5310000 | PA      | $5330868.30   | 0.56%             | 2028-04-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWBC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    566893 | PA      | $482150.86    | 0.05%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WTZ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4884755 | PA      | $4365922.60   | 0.46%             | 2051-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                                  | American Honda Finance Corp                                             | CUSIP: 02665WGK1<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5014100.00   | 0.52%             | 2028-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of Austin TX                                                       | AUSTIN TX                                                               | CUSIP: 0523975V4<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1060512.31   | 0.11%             | 2037-09-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XMJV9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5140484 | PA      | $5012050.37   | 0.52%             | 2053-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                            | Synopsys Inc                                                            | CUSIP: 871607AC1<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |   4395000 | PA      | $4479164.25   | 0.47%             | 2030-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA                                                 | PHILADELPHIA PA                                                         | CUSIP: 717813D97<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    550000 | PA      | $563827.00    | 0.06%             | 2030-08-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XQU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    662132 | PA      | $629547.59    | 0.07%             | 2053-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lawton Industrial Development Authority                                 | LAWTON OK INDL DEV AUTH SALES TAX REVENUE                               | CUSIP: 521005AY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $397147.20    | 0.04%             | 2033-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418ECD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3974769 | PA      | $3656494.54   | 0.38%             | 2037-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 3618N5C72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    504232 | PA      | $513898.38    | 0.05%             | 2054-12-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                    | Massachusetts Housing Finance Agency                                    | CUSIP: 57587GW50<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507865.00    | 0.05%             | 2031-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179V4W7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    662443 | PA      | $594166.85    | 0.06%             | 2051-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140W0GX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    946059 | PA      | $940288.36    | 0.10%             | 2054-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon State Lottery                                                    | Oregon State Lottery                                                    | CUSIP: 68607V6Y6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254675.25    | 0.03%             | 2030-04-01      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                  | VIRGINIA HSG DEV AUTH                                                   | CUSIP: 92812XPP1<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    660000 | PA      | $656144.94    | 0.07%             | 2033-01-01      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418ED80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    937939 | PA      | $888288.12    | 0.09%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWPT4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    942659 | PA      | $963674.76    | 0.10%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE                    | CUSIP: 64990FL77<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    685000 | PA      | $642770.44    | 0.07%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179VFP0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    481352 | PA      | $431773.78    | 0.05%             | 2050-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179YAQ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    985279 | PA      | $962092.83    | 0.10%             | 2053-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWF57<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3271671 | PA      | $3266653.92   | 0.34%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lawton Industrial Development Authority                                 | LAWTON OK INDL DEV AUTH SALES TAX REVENUE                               | CUSIP: 521005AW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $397730.80    | 0.04%             | 2031-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36180AAG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     90536 | PA      | $92271.40     | 0.01%             | 2054-09-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                                       | Kinder Morgan Inc                                                       | CUSIP: 49456BBB6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   4380000 | PA      | $4520773.20   | 0.47%             | 2030-06-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FNJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4947499 | PA      | $4991379.21   | 0.52%             | 2055-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                     | IDAHO ST HSG & FIN ASSN SF MTGE REVENUE                                 | CUSIP: 45130BCW1<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511550.00    | 0.05%             | 2032-01-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3133KL2H9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1147219 | PA      | $980080.15    | 0.10%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                     | NEW YORK NY                                                             | CUSIP: 64966SNA0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1445685.15   | 0.15%             | 2034-02-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                                  | NXP BV / NXP Funding LLC / NXP USA Inc                                  | CUSIP: 62954HBB3<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   2880000 | PA      | $2918736.00   | 0.31%             | 2033-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWNB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    272320 | PA      | $281569.06    | 0.03%             | 2055-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| University of North Texas System                                        | University of North Texas System                                        | CUSIP: 914729WY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $324963.20    | 0.03%             | 2039-04-15      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| County of Pinal AZ                                                      | PINAL CNTY AZ REVENUE OBLGS                                             | CUSIP: 72205RJT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $400528.98    | 0.04%             | 2036-08-01      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 3618N5ES4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  12302882 | PA      | $11573987.03  | 1.21%             | 2055-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XHRS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1087439 | PA      | $1002245.38   | 0.10%             | 2052-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XBMG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3672688 | PA      | $3397528.91   | 0.36%             | 2050-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| City of Shelbyville TN                                                  | City of Shelbyville                                                     | CUSIP: 822346KJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $222180.75    | 0.02%             | 2027-08-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWHY2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3759248 | PA      | $3660740.96   | 0.38%             | 2053-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                    | Bank of America Corp                                                    | CUSIP: 06051GMA4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4735000 | PA      | $4949164.05   | 0.52%             | 2035-01-23      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Colorado Housing and Finance Authority                                  | COLORADO ST HSG & FIN AUTH                                              | CUSIP: 19648GN40<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    250000 | PA      | $253241.75    | 0.03%             | 2030-11-01      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179Y2N3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    127457 | PA      | $131144.75    | 0.01%             | 2054-07-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL                                                     | LAKELAND FL CAPITAL IMPT REVENUE                                        | CUSIP: 511662EE4<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |    410000 | PA      | $419945.37    | 0.04%             | 2031-10-01      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| Texas Tech University System                                            | Texas Tech University System                                            | CUSIP: 882806KZ4<br>LEI: 549300SPM8LGJKCQO195 | Long             | DBT              | MUN               | US        |    200000 | PA      | $204244.20    | 0.02%             | 2029-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418D6C1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    745588 | PA      | $631907.63    | 0.07%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Maryland Department of Housing & Community Development                  | Maryland Department of Housing & Community Development                  | CUSIP: 57419UPG7<br>LEI: 549300Q5BSL77YR7NP93 | Long             | DBT              | MUN               | US        |    670000 | PA      | $686307.80    | 0.07%             | 2032-09-01      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| City of Austin TX                                                       | AUSTIN TX                                                               | CUSIP: 0523976M3<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |    750000 | PA      | $743347.50    | 0.08%             | 2037-09-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| PROV ST JOSEPH HLTH OBL                                                 | Providence St Joseph Health Obligated Group                             | CUSIP: 743820AG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1030850.00   | 0.11%             | 2032-10-01      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| EQT Corp                                                                | EQT Corp                                                                | CUSIP: 26884LAF6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   4560000 | PA      | $4531454.40   | 0.47%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR INC                                                         | Caterpillar Inc                                                         | CUSIP: 149123CL3<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | DBT              | CORP              | US        |   2710000 | PA      | $2806123.70   | 0.29%             | 2035-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1692077 | PA      | $1712435.06   | 0.18%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                     | North Dakota Housing Finance Agency                                     | CUSIP: 65889BCS1<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    475000 | PA      | $489741.15    | 0.05%             | 2031-01-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                                | Florida Power & Light Co                                                | CUSIP: 341081GG6<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   1660000 | PA      | $1491659.40   | 0.16%             | 2032-02-03      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FJU2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6431424 | PA      | $6574808.17   | 0.69%             | 2055-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION                                                | Devon Energy Corp                                                       | CUSIP: 25179MBG7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |   2390000 | PA      | $2381515.50   | 0.25%             | 2034-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                            | Broadcom Inc                                                            | CUSIP: 11135FBA8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1865000 | PA      | $1903232.50   | 0.20%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| County of St Louis MO                                                   | County of St. Louis                                                     | CUSIP: 791526QV1<br>LEI: 5493003TZLKXNN2MGO51 | Long             | DBT              | MUN               | US        |    435000 | PA      | $418856.28    | 0.04%             | 2027-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XKJ68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    639481 | PA      | $566887.98    | 0.06%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                  | VIRGINIA HSG DEV AUTH                                                   | CUSIP: 92812XPQ9<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    500000 | PA      | $497179.00    | 0.05%             | 2033-07-01      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Southwestern Illinois Community College District No 522                 | SAINT CLAIR MADISON MONROE ETC CNTYS IL CMNTY CLG DIST                  | CUSIP: 85227XDW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $858970.90    | 0.09%             | 2032-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3142J6AR4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    928266 | PA      | $960269.64    | 0.10%             | 2055-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                              | US Bancorp                                                              | CUSIP: 91159HJC5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   5650000 | PA      | $5505981.50   | 0.58%             | 2028-01-27      | Fixed         | 2.22%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XX43<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    314837 | PA      | $307241.92    | 0.03%             | 2053-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWNZ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    338300 | PA      | $349789.64    | 0.04%             | 2055-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Vermont Housing Finance Agency                                          | Vermont Housing Finance Agency                                          | CUSIP: 924190J44<br>LEI: 549300RD7EYN90K0W008 | Long             | DBT              | MUN               | US        |    135000 | PA      | $137363.85    | 0.01%             | 2034-11-01      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | ILLINOIS ST                                                             | CUSIP: 452153NF2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3010000 | PA      | $3024279.44   | 0.32%             | 2031-09-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FEY9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4838250 | PA      | $4561911.56   | 0.48%             | 2054-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                                | Capital One Financial Corp                                              | CUSIP: 14040HCH6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   3845000 | PA      | $3747375.45   | 0.39%             | 2027-11-02      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Lawton Industrial Development Authority                                 | LAWTON OK INDL DEV AUTH SALES TAX REVENUE                               | CUSIP: 521005BA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $396888.40    | 0.04%             | 2035-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Notes                                                     | CUSIP: 91282CNU1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  54400000 | PA      | $54406375.14  | 5.70%             | 2028-08-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWMA8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    668824 | PA      | $675170.91    | 0.07%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WQC5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    426687 | PA      | $393394.49    | 0.04%             | 2051-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179X5F9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6465880 | PA      | $6305883.40   | 0.66%             | 2053-06-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                    | Massachusetts Housing Finance Agency                                    | CUSIP: 57587GW92<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507867.00    | 0.05%             | 2033-06-01      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                                              | AbbVie Inc                                                              | CUSIP: 00287YCA5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   4655000 | PA      | $4170461.05   | 0.44%             | 2039-11-21      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                    | State of Connecticut                                                    | CUSIP: 20772KZR3<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |    200000 | PA      | $210476.00    | 0.02%             | 2035-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3133KPQV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    235967 | PA      | $223507.90    | 0.02%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                   | Wells Fargo & Co                                                        | CUSIP: 95000U2Q5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   5975000 | PA      | $4640722.75   | 0.49%             | 2041-04-30      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Notes                                                     | CUSIP: 91282CNR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13200000 | PA      | $13264968.82  | 1.39%             | 2032-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FKM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2943896 | PA      | $2921127.48   | 0.31%             | 2055-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XNE2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1644872 | PA      | $1606792.36   | 0.17%             | 2052-12-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWMB6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1335178 | PA      | $1365784.65   | 0.14%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                                  | GE HealthCare Technologies Inc                                          | CUSIP: 36266GAA5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |   4480000 | PA      | $4570048.00   | 0.48%             | 2029-08-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                  | PNC Financial Services Group Inc/The                                    | CUSIP: 693475BU8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   4065000 | PA      | $4608124.65   | 0.48%             | 2034-10-20      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179W2W7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4263551 | PA      | $3923988.60   | 0.41%             | 2052-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XLF37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1117954 | PA      | $904432.33    | 0.09%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XTA35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1362594 | PA      | $1112341.14   | 0.12%             | 2050-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Colorado Housing and Finance Authority                                  | COLORADO ST HSG & FIN AUTH                                              | CUSIP: 19648GN65<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    350000 | PA      | $356568.10    | 0.04%             | 2032-11-01      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                     | IDAHO ST HSG & FIN ASSN SF MTGE REVENUE                                 | CUSIP: 45130BCZ4<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    500000 | PA      | $514336.00    | 0.05%             | 2033-07-01      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWGG2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    952651 | PA      | $950150.12    | 0.10%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nebraska Investment Finance Authority                                   | NEBRASKA ST INVESTMENT FIN AUTH SF HSG REVENUE                          | CUSIP: 63968XBX2<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |    285000 | PA      | $294094.92    | 0.03%             | 2033-03-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DV7K5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4130703 | PA      | $3367742.26   | 0.35%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                     | State of California                                                     | CUSIP: 13063D3S5<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1320888.38   | 0.14%             | 2038-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                           | Kentucky State Property & Building Commission                           | CUSIP: 49151FP79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $858834.56    | 0.09%             | 2031-09-01      | Fixed         | 2.22%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                                                   | Micron Technology Inc                                                   | CUSIP: 595112CH4<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |   3560000 | PA      | $3806209.60   | 0.40%             | 2035-11-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                        | California Health Facilities Financing Authority                        | CUSIP: 13032UVG0<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    225000 | PA      | $214456.28    | 0.02%             | 2029-06-01      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                  | LOS ANGELES CA UNIF SCH DIST                                            | CUSIP: 544647LA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252068.50    | 0.03%             | 2027-10-01      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418DYB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2883937 | PA      | $2345248.12   | 0.25%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| City of Worcester MA                                                    | City of Worcester                                                       | CUSIP: 981305SA4<br>LEI: 5493006DO0NOILRNNH68 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1318999.04   | 0.14%             | 2028-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| State of California                                                     | State of California                                                     | CUSIP: 13063EHV1<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   3505000 | PA      | $3648610.37   | 0.38%             | 2035-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                 | Dallas Fort Worth International Airport                                 | CUSIP: 23503CAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $382354.16    | 0.04%             | 2051-11-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XHHT7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1224853 | PA      | $994781.91    | 0.10%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Redondo Beach Community Financing Authority                             | Redondo Beach Community Financing Authority                             | CUSIP: 757696AW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $478245.08    | 0.05%             | 2030-05-01      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| Brookfield Finance Inc                                                  | Brookfield Finance Inc                                                  | CUSIP: 11271LAC6<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |   4600000 | PA      | $4567524.00   | 0.48%             | 2028-01-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                        | NEW YORK ST THRUWAY AUTH PERSONAL INCOME TAX REVENUE                    | CUSIP: 650028YW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $905046.00    | 0.09%             | 2044-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179W5D6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4579237 | PA      | $4214178.78   | 0.44%             | 2052-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132E0ZM7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3624492 | PA      | $3797934.96   | 0.40%             | 2053-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Southwestern Illinois Community College District No 522                 | SAINT CLAIR MADISON MONROE ETC CNTYS IL CMNTY CLG DIST                  | CUSIP: 85227XDV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1312320.10   | 0.14%             | 2031-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                            | New York City Transitional Finance Authority                            | CUSIP: 64972JUV8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044875.00   | 0.11%             | 2040-05-01      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp                                                       | UTAH HSG CORP SF MTGE REVENUE                                           | CUSIP: 917437UP8<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    270000 | PA      | $277756.56    | 0.03%             | 2031-01-01      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| University of Michigan                                                  | University of Michigan                                                  | CUSIP: 914455VJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1155747.04   | 0.12%             | 2047-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                 | South Carolina Public Service Authority                                 | CUSIP: 8371516W4<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    125000 | PA      | $128605.00    | 0.01%             | 2032-12-01      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Bonds                                                     | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20100000 | PA      | $20880445.41  | 2.19%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XGF38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2467461 | PA      | $2099377.25   | 0.22%             | 2051-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP                                                 | Simon Property Group LP                                                 | CUSIP: 828807DY0<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |   5495000 | PA      | $5461810.20   | 0.57%             | 2034-09-26      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                  | VIRGINIA HSG DEV AUTH                                                   | CUSIP: 92812XPU0<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    890000 | PA      | $886059.97    | 0.09%             | 2035-07-01      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWEH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    778477 | PA      | $713753.39    | 0.07%             | 2052-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                 | South Carolina Public Service Authority                                 | CUSIP: 8371477D3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    920000 | PA      | $954312.32    | 0.10%             | 2030-01-01      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XTB2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1471378 | PA      | $1436861.01   | 0.15%             | 2053-02-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179U6U1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    925685 | PA      | $830698.73    | 0.09%             | 2049-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                | Golden State Tobacco Securitization Corp.                               | CUSIP: 38122NC75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1786573.13   | 0.19%             | 2028-06-01      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418EHK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7650790 | PA      | $7459637.39   | 0.78%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWG98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    664357 | PA      | $671341.45    | 0.07%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign              | Burbank-Glendale-Pasadena Airport Authority Brick Campaign              | CUSIP: 120827CW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $261805.29    | 0.03%             | 2041-07-01      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp                | Harris County Cultural Education Facilities Finance Corp.               | CUSIP: 414008CQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $212830.20    | 0.02%             | 2027-11-15      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                    | District of Columbia                                                    | CUSIP: 25484JDK3<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    510000 | PA      | $541545.54    | 0.06%             | 2035-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                          | Morgan Stanley                                                          | CUSIP: 61748UAF9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3530000 | PA      | $3699616.50   | 0.39%             | 2036-01-18      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| Los Angeles Community College District/CA                               | Los Angeles Community College District                                  | CUSIP: 54438CDT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1474265.10   | 0.15%             | 2029-08-01      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWEL3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    761184 | PA      | $759734.26    | 0.08%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kansas Development Finance Authority                                    | Kansas Development Finance Authority                                    | CUSIP: 485429Z72<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1211680.73   | 0.13%             | 2045-04-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3133BXSM4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    434569 | PA      | $431447.19    | 0.05%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                            | New York City Transitional Finance Authority                            | CUSIP: 64972JUL0<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1086935.85   | 0.11%             | 2031-05-01      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                 | Port Authority of New York & New Jersey                                 | CUSIP: 73358WCX0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    310000 | PA      | $332638.06    | 0.03%             | 2040-11-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FKP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1864319 | PA      | $1905882.87   | 0.20%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XGR43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3653119 | PA      | $2962539.31   | 0.31%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                                       | Cisco Systems Inc                                                       | CUSIP: 17275RAD4<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |   3410000 | PA      | $3706874.60   | 0.39%             | 2039-02-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                                          | Lowe's Cos Inc                                                          | CUSIP: 548661ED5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   4880000 | PA      | $4562116.80   | 0.48%             | 2028-09-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 3618N5TN9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4988652 | PA      | $5029959.34   | 0.53%             | 2055-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue                  | Triborough Bridge & Tunnel Authority Sales Tax Revenue                  | CUSIP: 896035BZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $689883.15    | 0.07%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XJRA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4492892 | PA      | $3652099.98   | 0.38%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XQQK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4502121 | PA      | $4305266.05   | 0.45%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3133KPJ41<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    204251 | PA      | $193437.16    | 0.02%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                  | VIRGINIA HSG DEV AUTH                                                   | CUSIP: 92812XPT3<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    960000 | PA      | $955496.64    | 0.10%             | 2035-01-01      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV FIN                                                | Anheuser-Busch InBev Finance Inc                                        | CUSIP: 035242AN6<br>LEI: 5493000EYEKDT0FBSQ91 | Long             | DBT              | CORP              | US        |   4015000 | PA      | $3754466.65   | 0.39%             | 2046-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWCH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2880021 | PA      | $2335586.39   | 0.24%             | 2051-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DTBS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1454913 | PA      | $1186183.72   | 0.12%             | 2052-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                    | Colorado Health Facilities Authority                                    | CUSIP: 19648FNV2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1367139.02   | 0.14%             | 2044-11-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWML4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1230841 | PA      | $1258942.32   | 0.13%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| American Municipal Power Inc                                            | American Municipal Power, Inc.                                          | CUSIP: 02765UPG3<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |    300000 | PA      | $281775.90    | 0.03%             | 2030-02-15      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| City of Ogden City UT Sewer & Water Revenue                             | City of Ogden City Sewer & Water Revenue                                | CUSIP: 676313BA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $293923.93    | 0.03%             | 2027-06-15      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                 | South Carolina Public Service Authority                                 | CUSIP: 8371516T1<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    350000 | PA      | $356142.15    | 0.04%             | 2028-12-01      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                            | MICHIGAN ST HSG DEV AUTH SF MTGE REVENUE                                | CUSIP: 594654L52<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    675000 | PA      | $677022.98    | 0.07%             | 2031-06-01      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| New Hampshire Housing Finance Authority                                 | NEW HAMPSHIRE ST HSG FIN AUTH SF MTGE REVENUE                           | CUSIP: 64469HAT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $472087.78    | 0.05%             | 2033-07-01      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Broomfield Urban Renewal Authority                                      | Broomfield Urban Renewal Authority                                      | CUSIP: 114778BH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $531421.29    | 0.06%             | 2030-12-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FLQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4888744 | PA      | $4850933.77   | 0.51%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                | Public Finance Authority                                                | CUSIP: 74442PDX0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    300000 | PA      | $296527.80    | 0.03%             | 2027-07-01      | Fixed         | 3.11%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                | New Hampshire Business Finance Authority                                | CUSIP: 63607YCY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2030000 | PA      | $2149049.35   | 0.22%             | 2035-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                               | Boeing Co/The                                                           | CUSIP: 097023CV5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2860256.00   | 0.30%             | 2040-05-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                         | CVS Health Corp                                                         | CUSIP: 126650DU1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   4530000 | PA      | $4635458.40   | 0.49%             | 2033-02-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                     | Idaho Housing & Finance Association                                     | CUSIP: 45129Y7L4<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    415000 | PA      | $412990.16    | 0.04%             | 2033-01-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 31329MJ84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    264297 | PA      | $255200.51    | 0.03%             | 2031-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                 | Goldman Sachs Group Inc/The                                             | CUSIP: 38141GXG4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5875000 | PA      | $5504992.50   | 0.58%             | 2030-02-07      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWE66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4043000 | PA      | $3941361.30   | 0.41%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                  | Illinois Housing Development Authority                                  | CUSIP: 45203ML74<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504469.50    | 0.05%             | 2031-10-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| County of Pima AZ                                                       | County of Pima                                                          | CUSIP: 72178JAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $192500.04    | 0.02%             | 2031-05-01      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp                                           | Sales Tax Securitization Corp.                                          | CUSIP: 79467BAZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $990642.03    | 0.10%             | 2029-01-01      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL                                                     | LAKELAND FL CAPITAL IMPT REVENUE                                        | CUSIP: 511662ED6<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |    400000 | PA      | $408871.20    | 0.04%             | 2030-10-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DSUW0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1338848 | PA      | $1139954.50   | 0.12%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| City of Modesto CA Wastewater Revenue                                   | MODESTO CA WSTWTR REVENUE                                               | CUSIP: 607802CD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $305676.70    | 0.03%             | 2032-11-01      | Fixed         | 2.23%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XHY5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1034081 | PA      | $1010300.97   | 0.11%             | 2052-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XJ4T7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    621738 | PA      | $510386.70    | 0.05%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| State Street Institutional US Government Money Market Fund              | State Street Institutional US Government Money Market Fund              | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  21584252 | NS      | $21584251.50  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWNJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1388073 | PA      | $1400815.42   | 0.15%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Hampshire Housing Finance Authority                                 | NEW HAMPSHIRE ST HSG FIN AUTH SF MTGE REVENUE                           | CUSIP: 64469HAS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $447246.00    | 0.05%             | 2033-01-01      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                                     | American Express Co                                                     | CUSIP: 025816DP1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   4525000 | PA      | $4586856.75   | 0.48%             | 2028-02-16      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                               | Indiana Finance Authority                                               | CUSIP: 45506EFH1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $834508.00    | 0.09%             | 2052-03-01      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                     | IDAHO ST HSG & FIN ASSN SF MTGE REVENUE                                 | CUSIP: 45130BDX8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1318426.68   | 0.14%             | 2031-01-01      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | State of Illinois                                                       | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2351520 | PA      | $2382138.65   | 0.25%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                 | South Carolina Public Service Authority                                 | CUSIP: 837151FV6<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1214572.91   | 0.13%             | 2030-12-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                                                     | General Electric Co                                                     | CUSIP: 36962GXZ2<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |   2340000 | PA      | $2663224.20   | 0.28%             | 2032-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179VN48<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1021726 | PA      | $944448.85    | 0.10%             | 2050-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                            | Broadcom Inc                                                            | CUSIP: 11135FCF6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   2770000 | PA      | $2863930.70   | 0.30%             | 2030-04-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                       | Indiana Housing & Community Development Authority                       | CUSIP: 45505WAH7<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |    200000 | PA      | $205871.60    | 0.02%             | 2031-01-01      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                                                 | Pfizer Investment Enterprises Pte Ltd                                   | CUSIP: 716973AG7<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |   5820000 | PA      | $5630035.20   | 0.59%             | 2053-05-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| City of Watertown WI                                                    | City of Watertown                                                       | CUSIP: 942214ZC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $281393.38    | 0.03%             | 2027-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                                | Capital One Financial Corp                                              | CUSIP: 14040HCV5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   4350000 | PA      | $4470451.50   | 0.47%             | 2030-07-26      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179W7J1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3761682 | PA      | $3240362.95   | 0.34%             | 2052-06-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Lawton Industrial Development Authority                                 | LAWTON OK INDL DEV AUTH SALES TAX REVENUE                               | CUSIP: 521005AX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $396879.20    | 0.04%             | 2032-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DUUA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1872513 | PA      | $1650858.43   | 0.17%             | 2052-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70869PMT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1001624.39   | 0.10%             | 2028-06-15      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FINGAUTH GOVTL LEASE REVENUE                   | CUSIP: 70869HBB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1855000 | PA      | $1769395.46   | 0.19%             | 2029-03-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| New Jersey Educational Facilities Authority                             | New Jersey Educational Facilities Authority                             | CUSIP: 6460662H2<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |    475000 | PA      | $467702.58    | 0.05%             | 2027-09-01      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XLJ33<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    660705 | PA      | $631815.20    | 0.07%             | 2051-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                     | IDAHO ST HSG & FIN ASSN SF MTGE REVENUE                                 | CUSIP: 45130BEC3<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    675000 | PA      | $670152.83    | 0.07%             | 2033-07-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XECQ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1226108 | PA      | $1091519.39   | 0.11%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XK2P4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3248249 | PA      | $2894708.09   | 0.30%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Glendale AZ                                                     | City of Glendale                                                        | CUSIP: 37828AAP4<br>LEI: 5493002BC35ZY7XRQ949 | Long             | DBT              | MUN               | US        |    750000 | PA      | $613582.50    | 0.06%             | 2037-07-01      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                                                          | Amazon.com Inc                                                          | CUSIP: 023135BJ4<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   5565000 | PA      | $4712219.40   | 0.49%             | 2047-08-22      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc                                                    | Freeport-McMoRan Inc                                                    | CUSIP: 35671DBC8<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   4755000 | PA      | $4578161.55   | 0.48%             | 2043-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| City of Garland TX                                                      | GARLAND TX                                                              | CUSIP: 366120GR8<br>LEI: 549300O5KXJ5HAWVEN53 | Long             | DBT              | MUN               | US        |    650000 | PA      | $655602.35    | 0.07%             | 2031-02-15      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132D6BW9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3459960 | PA      | $3182909.00   | 0.33%             | 2037-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                        | T-Mobile USA Inc                                                        | CUSIP: 87264ABL8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   4400000 | PA      | $3304928.00   | 0.35%             | 2041-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179UGC0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    344374 | PA      | $329260.32    | 0.03%             | 2048-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWER0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4707538 | PA      | $4456155.68   | 0.47%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                     | City of New York                                                        | CUSIP: 64966Q7W4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1167886.49   | 0.12%             | 2038-10-01      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FBQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    242935 | PA      | $251186.17    | 0.03%             | 2054-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                                  | NextEra Energy Capital Holdings Inc                                     | CUSIP: 65339KCQ1<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   3590000 | PA      | $3402458.40   | 0.36%             | 2053-02-28      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                  | VIRGINIA HSG DEV AUTH                                                   | CUSIP: 92812XPR7<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    500000 | PA      | $497360.00    | 0.05%             | 2034-01-01      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                 | Port Authority of New York & New Jersey                                 | CUSIP: 73358W3L6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    300000 | PA      | $194383.80    | 0.02%             | 2069-08-01      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                                  | UnitedHealth Group Inc                                                  | CUSIP: 91324PER9<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   4430000 | PA      | $4634223.00   | 0.49%             | 2033-02-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XRY66<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    310533 | PA      | $286646.59    | 0.03%             | 2052-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WXJ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    577207 | PA      | $497151.06    | 0.05%             | 2052-02-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XMTB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    789148 | PA      | $698343.34    | 0.07%             | 2052-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Charlotte NC                                                    | CHARLOTTE NC COPS                                                       | CUSIP: 1610376M3<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |   6460000 | PA      | $6663238.06   | 0.70%             | 2042-06-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                              | Fiserv Inc                                                              | CUSIP: 337738AU2<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2041893.00   | 0.21%             | 2029-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| County of Riverside CA                                                  | RIVERSIDE CNTY CA PENSN OBLG                                            | CUSIP: 76913CAT6<br>LEI: 254900CB5HEOBAVTY629 | Long             | DBT              | MUN               | US        |   3135000 | PA      | $3235476.75   | 0.34%             | 2035-02-15      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132D6AY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    405929 | PA      | $374197.20    | 0.04%             | 2036-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FNL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1957746 | PA      | $2025242.33   | 0.21%             | 2055-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XLD62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    303819 | PA      | $258873.16    | 0.03%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179YYT5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    122716 | PA      | $115917.55    | 0.01%             | 2054-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California State University                                             | California State University                                             | CUSIP: 13077DKU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $695118.36    | 0.07%             | 2051-11-01      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                     | JPMorgan Chase & Co                                                     | CUSIP: 46647PEV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4440000 | PA      | $4587141.60   | 0.48%             | 2031-01-24      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                        | Minnesota Housing Finance Agency                                        | CUSIP: 60416UPV1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508191.50    | 0.05%             | 2032-01-01      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418EAS9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    578235 | PA      | $532767.16    | 0.06%             | 2037-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                             | Oracle Corp                                                             | CUSIP: 68389XDK8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001790.00   | 0.10%             | 2032-09-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| City of Asheville NC                                                    | ASHEVILLE NC LIMITED OBLIG                                              | CUSIP: 044037DF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $570892.30    | 0.06%             | 2033-04-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XLH68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    486108 | PA      | $445767.98    | 0.05%             | 2052-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XPBW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7119390 | PA      | $7090841.63   | 0.74%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                              | CUSIP: 70869PRG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $454635.28    | 0.05%             | 2034-06-01      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70869PRB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $153205.95    | 0.02%             | 2029-06-01      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                        | Commonwealth Financing Authority                                        | CUSIP: 20281PKW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $692815.20    | 0.07%             | 2041-06-01      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Combined Utility System Revenue                      | City of Houston Combined Utility System Revenue                         | CUSIP: 44244CXU6<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |    205000 | PA      | $188832.68    | 0.02%             | 2030-11-15      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70869PRD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $215968.20    | 0.02%             | 2031-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DV5R2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1025870 | PA      | $914213.30    | 0.10%             | 2050-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WXK9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    734732 | PA      | $657039.54    | 0.07%             | 2052-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WQB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1670261 | PA      | $1494159.72   | 0.16%             | 2051-10-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                            | New York City Transitional Finance Authority                            | CUSIP: 64972JUN6<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1053117.39   | 0.11%             | 2033-05-01      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132D6A59<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1261983 | PA      | $1163138.70   | 0.12%             | 2036-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp                                                       | Utah Housing Corp.                                                      | CUSIP: 917437TM7<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    360000 | PA      | $364745.88    | 0.04%             | 2034-01-01      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                                     | JPMorgan Chase & Co                                                     | CUSIP: 46647PAJ5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   6440000 | PA      | $5803212.80   | 0.61%             | 2038-07-24      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWNF6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4974252 | PA      | $4827461.76   | 0.51%             | 2055-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                | Golden State Tobacco Securitization Corp.                               | CUSIP: 38122NC83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1014634.50   | 0.11%             | 2029-06-01      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                    | State of Connecticut                                                    | CUSIP: 20772KZL6<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |    250000 | PA      | $257088.75    | 0.03%             | 2030-03-15      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                   | Wells Fargo & Co                                                        | CUSIP: 95000U2D4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4590000 | PA      | $4589678.70   | 0.48%             | 2029-01-24      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179VVY3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3119228 | PA      | $2691315.82   | 0.28%             | 2050-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                           | Citigroup Inc                                                           | CUSIP: 172967PF2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5355000 | PA      | $5496479.10   | 0.58%             | 2030-02-13      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| State Board of Administration Finance Corp                              | State Board of Administration Finance Corp.                             | CUSIP: 341271AH7<br>LEI: 549300S34SOJ0RULXM35 | Long             | DBT              | MUN               | US        |   9095000 | PA      | $9485948.58   | 0.99%             | 2034-07-01      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| County of Harris TX Hotel Occupancy Tax Revenue                         | County of Harris Hotel Occupancy Tax Revenue                            | CUSIP: 414157BM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $728247.56    | 0.08%             | 2037-08-15      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                   | Connecticut Housing Finance Authority                                   | CUSIP: 20775H7J6<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    205000 | PA      | $207210.72    | 0.02%             | 2031-05-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                              | Fiserv Inc                                                              | CUSIP: 337738BH0<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   2930000 | PA      | $3078111.50   | 0.32%             | 2033-08-21      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XMUS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3519723 | PA      | $2863503.65   | 0.30%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| City of Chula Vista CA                                                  | City of Chula Vista                                                     | CUSIP: 17131RAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1467938.30   | 0.15%             | 2031-06-01      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| City of Oakland CA                                                      | City of Oakland                                                         | CUSIP: 672240YY8<br>LEI: 549300BRTTFKDQCGL048 | Long             | DBT              | MUN               | US        |    195000 | PA      | $207087.66    | 0.02%             | 2031-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                    | State of Connecticut                                                    | CUSIP: 20772GF45<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |    495000 | PA      | $532606.14    | 0.06%             | 2032-03-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA                                                 | PHILADELPHIA PA                                                         | CUSIP: 717813E39<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   2260000 | PA      | $2332857.88   | 0.24%             | 2032-08-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WY93<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2228896 | PA      | $1920000.72   | 0.20%             | 2052-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                  | VIRGINIA HSG DEV AUTH                                                   | CUSIP: 92812XPK2<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    650000 | PA      | $646615.45    | 0.07%             | 2031-01-01      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179Y2L7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    208183 | PA      | $210165.09    | 0.02%             | 2054-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                 | Goldman Sachs Group Inc/The                                             | CUSIP: 38148YAA6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5150000 | PA      | $4617953.50   | 0.48%             | 2038-10-31      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWPS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1253248 | PA      | $1264546.91   | 0.13%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                | AT&T Inc                                                                | CUSIP: 00206RKH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   3955000 | PA      | $3464065.85   | 0.36%             | 2032-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWFR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5298556 | PA      | $5292330.36   | 0.55%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                | Golden State Tobacco Securitization Corp.                               | CUSIP: 38122NC67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $861463.93    | 0.09%             | 2027-06-01      | Fixed         | 2.33%                 | No            |                  2 | On Loan: No      |
| Lawton Industrial Development Authority                                 | LAWTON OK INDL DEV AUTH SALES TAX REVENUE                               | CUSIP: 521005AR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $299858.40    | 0.03%             | 2026-07-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XQT6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    226391 | PA      | $208291.05    | 0.02%             | 2053-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                             | Oracle Corp                                                             | CUSIP: 68389XBQ7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   6625000 | PA      | $5137157.50   | 0.54%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 A PTT                                                 | United Airlines 2020-1 Class A Pass Through Trust                       | CUSIP: 90931GAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4512725 | PA      | $4620714.25   | 0.48%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| County of Franklin OH                                                   | County of Franklin                                                      | CUSIP: 353187EK9<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |    660000 | PA      | $453080.76    | 0.05%             | 2050-11-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                            | New York City Transitional Finance Authority                            | CUSIP: 64972JQY7<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    275000 | PA      | $279801.23    | 0.03%             | 2027-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3133KR5L4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1771831 | PA      | $1834592.41   | 0.19%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HONDA MOTOR CO LTD                                                      | Honda Motor Co Ltd                                                      | CUSIP: 438127AE2<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | DBT              | CORP              | JP        |   4520000 | PA      | $4562668.80   | 0.48%             | 2030-07-08      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418EKS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    722656 | PA      | $683842.76    | 0.07%             | 2052-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XPK40<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    630857 | PA      | $584473.47    | 0.06%             | 2037-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                          | Morgan Stanley                                                          | CUSIP: 61747YFA8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   5360000 | PA      | $5475025.60   | 0.57%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWDQ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    496605 | PA      | $402322.70    | 0.04%             | 2052-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Housing Finance Authority                                 | NEW HAMPSHIRE ST HSG FIN AUTH SF MTGE REVENUE                           | CUSIP: 64469HAN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $756184.80    | 0.08%             | 2031-01-01      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | ILLINOIS ST                                                             | CUSIP: 452153NC9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   9760000 | PA      | $9749185.92   | 1.02%             | 2028-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                  | ILLINOIS ST HSG DEV AUTH REVENUE                                        | CUSIP: 45203MT92<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    945000 | PA      | $960906.24    | 0.10%             | 2033-04-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                     | IDAHO ST HSG & FIN ASSN SF MTGE REVENUE                                 | CUSIP: 45130BEB5<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    400000 | PA      | $397127.60    | 0.04%             | 2033-01-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179VFN5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    638148 | PA      | $550998.08    | 0.06%             | 2050-02-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                        | New York State Thruway Authority                                        | CUSIP: 650009S61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $243753.12    | 0.03%             | 2042-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XNKU7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    629167 | PA      | $509791.24    | 0.05%             | 2052-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                                | RTX Corp                                                                | CUSIP: 75513ECX7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   4960000 | PA      | $5555299.20   | 0.58%             | 2054-03-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| QUALCOMM Inc                                                            | QUALCOMM Inc                                                            | CUSIP: 747525AK9<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |   4970000 | PA      | $4662754.60   | 0.49%             | 2045-05-20      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | Philadelphia Authority for Industrial Development                       | CUSIP: 71781LBH1<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1854469.38   | 0.19%             | 2028-10-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179Y5L4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2958775 | PA      | $2986484.87   | 0.31%             | 2054-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FNF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5963548 | PA      | $5622981.48   | 0.59%             | 2055-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XFE1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    305177 | PA      | $272756.55    | 0.03%             | 2052-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DPQE1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    674592 | PA      | $618505.31    | 0.06%             | 2052-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Rockwall Independent School District                                    | Rockwall Independent School District                                    | CUSIP: 774286DT2<br>LEI: 5493008ZIVPUZPQOR621 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $1999978.86   | 0.21%             | 2053-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FLT2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    932504 | PA      | $964653.35    | 0.10%             | 2055-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XX35<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    258075 | PA      | $245374.22    | 0.03%             | 2053-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WVV7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    710907 | PA      | $635788.69    | 0.07%             | 2052-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                        | T-Mobile USA Inc                                                        | CUSIP: 87264AAZ8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   4130000 | PA      | $3479318.50   | 0.36%             | 2050-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179VQS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1005911 | PA      | $868148.57    | 0.09%             | 2050-07-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                | AT&T Inc                                                                | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   5420000 | PA      | $3736277.00   | 0.39%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                             | Oracle Corp                                                             | CUSIP: 68389XDH5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999970.00    | 0.10%             | 2030-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp                                           | Sales Tax Securitization Corp.                                          | CUSIP: 79467BJL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4030000 | PA      | $4068663.82   | 0.43%             | 2039-01-01      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA Airport Customer Facility Charge                     | ATLANTA GA CUSTOMER FAC CHARGE REVENUE                                  | CUSIP: 047773AK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505952.50    | 0.05%             | 2035-07-01      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                  | LOS ANGELES CA UNIF SCH DIST                                            | CUSIP: 544647LF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $769870.50    | 0.08%             | 2032-10-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department                                 | MIAMI-DADE CNTY FL SEAPORT REVENUE                                      | CUSIP: 59335KCS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2249397.50   | 0.24%             | 2030-10-01      | Fixed         | 1.96%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWJ46<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7725950 | PA      | $7815734.17   | 0.82%             | 2053-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132CXDU3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    333455 | PA      | $313992.77    | 0.03%             | 2037-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Lawton Industrial Development Authority                                 | LAWTON OK INDL DEV AUTH SALES TAX REVENUE                               | CUSIP: 521005AU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $398341.20    | 0.04%             | 2029-07-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| JobsOhio Beverage System                                                | JobsOhio Beverage System                                                | CUSIP: 47770VAZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $822787.18    | 0.09%             | 2035-01-01      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| New Hampshire Housing Finance Authority                                 | NEW HAMPSHIRE ST HSG FIN AUTH SF MTGE REVENUE                           | CUSIP: 64469HAP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $750750.86    | 0.08%             | 2031-07-01      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                  | Iowa Finance Authority                                                  | CUSIP: 46247EHB4<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102260.30    | 0.01%             | 2031-01-01      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| State of Hawaii                                                         | State of Hawaii                                                         | CUSIP: 419792R32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $206003.07    | 0.02%             | 2041-10-01      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                  | VIRGINIA HSG DEV AUTH                                                   | CUSIP: 92812XPS5<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    650000 | PA      | $646771.45    | 0.07%             | 2034-07-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| City of Asheville NC                                                    | ASHEVILLE NC LIMITED OBLIG                                              | CUSIP: 044037DJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $648559.38    | 0.07%             | 2036-04-01      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                        | MINNESOTA ST HSG FIN AGY                                                | CUSIP: 60416UXC4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    635000 | PA      | $632792.11    | 0.07%             | 2031-01-01      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL                                                     | LAKELAND FL CAPITAL IMPT REVENUE                                        | CUSIP: 511662EF1<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |    400000 | PA      | $410308.80    | 0.04%             | 2032-10-01      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| City of Glendale AZ                                                     | City of Glendale                                                        | CUSIP: 37828AAH2<br>LEI: 5493002BC35ZY7XRQ949 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $898555.00    | 0.09%             | 2031-07-01      | Fixed         | 2.32%                 | No            |                  2 | On Loan: No      |
| Toledo Lucas County Public Library                                      | Toledo Lucas County Public Library                                      | CUSIP: 88928DAT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510291.50    | 0.05%             | 2038-12-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Kansas Development Finance Authority                                    | Kansas Development Finance Authority                                    | CUSIP: 48542RSL9<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |    215000 | PA      | $201989.06    | 0.02%             | 2028-05-01      | Fixed         | 1.52%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax Revenue                                 | District of Columbia Income Tax Revenue                                 | CUSIP: 25477GXP5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512510.50    | 0.05%             | 2040-06-01      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418ET75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2259672 | PA      | $2314575.61   | 0.24%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418EJ50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    658756 | PA      | $623476.79    | 0.07%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Housing Opportunities Commission                      | Montgomery County Housing Opportunities Commission                      | CUSIP: 61335AAN5<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507560.00    | 0.05%             | 2037-12-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Southwestern Illinois Development Authority                             | Southwestern Illinois Development Authority                             | CUSIP: 84552YSV4<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |    400000 | PA      | $413831.20    | 0.04%             | 2031-04-01      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                         | CVS Health Corp                                                         | CUSIP: 126650CX6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   3660000 | PA      | $3662745.00   | 0.38%             | 2028-03-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| City of Trussville AL                                                   | City of Trussville                                                      | CUSIP: 898242NX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $209340.34    | 0.02%             | 2027-10-01      | Fixed         | 1.26%                 | No            |                  2 | On Loan: No      |
| State of Oregon                                                         | State of Oregon                                                         | CUSIP: 68607LXQ5<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    441516 | PA      | $451272.23    | 0.05%             | 2027-06-01      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FBP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    837416 | PA      | $856612.30    | 0.09%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                  | LOS ANGELES CA UNIF SCH DIST                                            | CUSIP: 544647LG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $774535.50    | 0.08%             | 2033-10-01      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                  | New York City Housing Development Corp.                                 | CUSIP: 64972EQQ5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    235000 | PA      | $215648.69    | 0.02%             | 2030-05-01      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| Montgomery County Housing Opportunities Commission                      | Montgomery County Housing Opportunities Commission                      | CUSIP: 61335AAE5<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254398.25    | 0.03%             | 2029-12-01      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418ELY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    848140 | PA      | $861262.69    | 0.09%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                  | VIRGINIA HSG DEV AUTH                                                   | CUSIP: 92812XPN6<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1580132.46   | 0.17%             | 2032-07-01      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179UH54<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    366528 | PA      | $361736.85    | 0.04%             | 2048-12-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL                                                     | LAKELAND FL CAPITAL IMPT REVENUE                                        | CUSIP: 511662EG9<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |    415000 | PA      | $427518.48    | 0.04%             | 2033-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179W5E4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     76874 | PA      | $73050.57     | 0.01%             | 2052-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT                    | CUSIP: 64985SFE8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7288204.00   | 0.76%             | 2035-07-01      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418EGJ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1404034 | PA      | $1329275.72   | 0.14%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DUL96<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    235475 | PA      | $215653.62    | 0.02%             | 2054-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                        | MINNESOTA ST HSG FIN AGY                                                | CUSIP: 60416UUM5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    835000 | PA      | $861197.29    | 0.09%             | 2031-01-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| City of Austin TX                                                       | AUSTIN TX                                                               | CUSIP: 0523976N1<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |    890000 | PA      | $882548.03    | 0.09%             | 2038-09-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                        | NEW YORK ST THRUWAY AUTH PERSONAL INCOME TAX REVENUE                    | CUSIP: 650028ZB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $520551.58    | 0.05%             | 2049-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                                                 | Honeywell International Inc                                             | CUSIP: 438516CS3<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |   4560000 | PA      | $4636380.00   | 0.49%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southwestern Illinois Community College District No 522                 | SAINT CLAIR MADISON MONROE ETC CNTYS IL CMNTY CLG DIST                  | CUSIP: 85227XDU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $805786.40    | 0.08%             | 2030-12-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| TARGET CORP                                                             | Target Corp                                                             | CUSIP: 87612EBT2<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | DBT              | CORP              | US        |   4480000 | PA      | $4537075.20   | 0.47%             | 2035-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179Y5N0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    187063 | PA      | $192475.54    | 0.02%             | 2054-08-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority                  | Maine Health & Higher Educational Facilities Authority                  | CUSIP: 56042RJ78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $283512.60    | 0.03%             | 2028-07-01      | Fixed         | 1.86%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp                            | Rhode Island Housing & Mortgage Finance Corp.                           | CUSIP: 76221SJD4<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507721.00    | 0.05%             | 2033-10-01      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418EZL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1732562 | PA      | $1750027.73   | 0.18%             | 2054-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                  | VIRGINIA HSG DEV AUTH                                                   | CUSIP: 92812XPM8<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   1915000 | PA      | $1902152.27   | 0.20%             | 2032-01-01      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                           | Citigroup Inc                                                           | CUSIP: 172967MS7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4670000 | PA      | $4298361.40   | 0.45%             | 2031-06-03      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| Oregon State Lottery                                                    | Oregon State Lottery                                                    | CUSIP: 68607V7G4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $520775.50    | 0.05%             | 2038-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CommonSpirit Health                                                     | CommonSpirit Health                                                     | CUSIP: 14916RAD6<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |   5325000 | PA      | $4610864.25   | 0.48%             | 2042-11-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                        | Commonwealth Financing Authority                                        | CUSIP: 20281PKG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $56435.04     | 0.01%             | 2038-06-01      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XKES5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1011337 | PA      | $824538.26    | 0.09%             | 2051-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                  | LOS ANGELES CA UNIF SCH DIST                                            | CUSIP: 544647LD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $536219.25    | 0.06%             | 2030-10-01      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XKZL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1006564 | PA      | $931152.07    | 0.10%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XK4N7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    791603 | PA      | $748444.73    | 0.08%             | 2036-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWMK6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2267863 | PA      | $2289208.93   | 0.24%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| San Jose Financing Authority                                            | SAN JOSE CA FING AUTH LEASE REVENUE                                     | CUSIP: 798153NT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7395000 | PA      | $5894983.41   | 0.62%             | 2038-06-01      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132D55J7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1686300 | PA      | $1599810.20   | 0.17%             | 2035-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 3622ADTQ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    483951 | PA      | $494207.62    | 0.05%             | 2055-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418D7F3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    772980 | PA      | $654883.63    | 0.07%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132CW3X0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    465217 | PA      | $440283.67    | 0.05%             | 2037-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| City of Kansas City MO                                                  | City of Kansas City                                                     | CUSIP: 485106P36<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |   2140000 | PA      | $2201139.80   | 0.23%             | 2039-04-01      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| City of Charlotte NC                                                    | CHARLOTTE NC COPS                                                       | CUSIP: 1610376H4<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |    500000 | PA      | $516484.00    | 0.05%             | 2038-06-01      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Notes                                                     | CUSIP: 91282CNL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  39150000 | PA      | $39223406.25  | 4.11%             | 2027-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                              | US Bancorp                                                              | CUSIP: 91159HJA9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   5260000 | PA      | $4616754.60   | 0.48%             | 2030-07-22      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                                                | Cheniere Energy Partners LP                                             | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   4510000 | PA      | $4499446.60   | 0.47%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418DTN2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3181260 | PA      | $3013204.02   | 0.32%             | 2035-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                  | LOS ANGELES CA UNIF SCH DIST                                            | CUSIP: 544647LN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8205000 | PA      | $8388849.44   | 0.88%             | 2039-10-01      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Nebraska Investment Finance Authority                                   | NEBRASKA ST INVESTMENT FIN AUTH SF HSG REVENUE                          | CUSIP: 63968XBZ7<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1682145.33   | 0.18%             | 2034-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                             | Oracle Corp                                                             | CUSIP: 68389XDT9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4999300.00   | 0.52%             | 2065-09-26      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                     | IDAHO ST HSG & FIN ASSN SF MTGE REVENUE                                 | CUSIP: 45130BDY6<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1387054.08   | 0.15%             | 2031-07-01      | Fixed         | 4.23%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                               | New Jersey Economic Development Authority                               | CUSIP: 64577B8K3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    645000 | PA      | $617175.35    | 0.06%             | 2033-06-15      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FKK2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4879197 | PA      | $4600555.95   | 0.48%             | 2055-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                               | Boeing Co/The                                                           | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   3750000 | PA      | $3749475.00   | 0.39%             | 2050-05-01      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWNG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5133427 | PA      | $5093747.13   | 0.53%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                        | MINNESOTA ST HSG FIN AGY                                                | CUSIP: 60416UUJ2<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    770000 | PA      | $787148.67    | 0.08%             | 2029-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWE74<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    299214 | PA      | $298518.48    | 0.03%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax Revenue                                 | DIST OF COLUMBIA INCOME TAX SECURED REVENUE                             | CUSIP: 25477GXQ3<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2470000 | PA      | $2556887.19   | 0.27%             | 2045-06-01      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XGV89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    425576 | PA      | $378086.57    | 0.04%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                        | Commonwealth Financing Authority                                        | CUSIP: 20281PKT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $607533.30    | 0.06%             | 2038-06-01      | Fixed         | 3.86%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | State of Illinois                                                       | CUSIP: 452153LG2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    295000 | PA      | $295453.12    | 0.03%             | 2032-10-01      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Notes                                                     | CUSIP: 91282CNX5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  40000000 | PA      | $39801562.40  | 4.17%             | 2030-08-31      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL                                                 | County of Miami-Dade                                                    | CUSIP: 59333HBK1<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |    150000 | PA      | $165776.70    | 0.02%             | 2029-10-01      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| State Board of Administration Finance Corp                              | State Board of Administration Finance Corp.                             | CUSIP: 341271AE4<br>LEI: 549300S34SOJ0RULXM35 | Long             | DBT              | MUN               | US        |    945000 | PA      | $909523.76    | 0.10%             | 2027-07-01      | Fixed         | 1.71%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL                                                     | LAKELAND FL CAPITAL IMPT REVENUE                                        | CUSIP: 511662EB0<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |    400000 | PA      | $405837.20    | 0.04%             | 2028-10-01      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                               | New Jersey Economic Development Authority                               | CUSIP: 645913AA2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2323000 | PA      | $2443103.75   | 0.26%             | 2029-02-15      | Fixed         | 7.43%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FGZ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1176801 | PA      | $1203123.28   | 0.13%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp                                                       | UTAH HSG CORP SF MTGE REVENUE                                           | CUSIP: 917437UT0<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    825000 | PA      | $857742.60    | 0.09%             | 2033-01-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418EDE7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1379468 | PA      | $1266003.26   | 0.13%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                  | Illinois Housing Development Authority                                  | CUSIP: 45203MM32<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508031.50    | 0.05%             | 2033-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179VFR6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    510072 | PA      | $486210.01    | 0.05%             | 2050-02-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 3618N5TP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3988368 | PA      | $4062693.64   | 0.43%             | 2055-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWDC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1346458 | PA      | $1090828.50   | 0.11%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Bonds                                                     | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8240000 | PA      | $8101593.79   | 0.85%             | 2055-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971XEB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $228027.29    | 0.02%             | 2030-05-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179W7M4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    655013 | PA      | $622436.89    | 0.07%             | 2052-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWBP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1446288 | PA      | $1175632.07   | 0.12%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Aldine Independent School District                                      | Aldine Independent School District                                      | CUSIP: 014393ZT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1309802.21   | 0.14%             | 2054-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WVU9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4083691 | PA      | $3517489.76   | 0.37%             | 2052-01-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XND4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   9200948 | PA      | $8743352.55   | 0.92%             | 2052-12-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                                                             | Netflix Inc                                                             | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   4280000 | PA      | $4513516.80   | 0.47%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DS5D0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    477480 | PA      | $405484.17    | 0.04%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                  | VIRGINIA HSG DEV AUTH                                                   | CUSIP: 92812XPL0<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    955000 | PA      | $949660.60    | 0.10%             | 2031-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWLU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4091736 | PA      | $4186292.07   | 0.44%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT                    | CUSIP: 64985SFF5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1840000 | PA      | $1923219.52   | 0.20%             | 2045-07-01      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                              | MICHIGAN ST FIN AUTH REVENUE                                            | CUSIP: 59447TXB4<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    535000 | PA      | $526456.59    | 0.06%             | 2049-09-01      | Floating      | 2.67%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                            | MICHIGAN ST HSG DEV AUTH SF MTGE REVENUE                                | CUSIP: 594654L94<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    375000 | PA      | $376075.88    | 0.04%             | 2033-06-01      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Rutgers The State University of New Jersey                              | Rutgers The State University of New Jersey                              | CUSIP: 783186UJ6<br>LEI: 549300BOYDHNW8J60112 | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1057553.61   | 0.11%             | 2043-05-01      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                        | MINNESOTA ST HSG FIN AGY                                                | CUSIP: 60416UXH3<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    790000 | PA      | $786148.75    | 0.08%             | 2033-07-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XJJ61<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    436958 | PA      | $411128.62    | 0.04%             | 2037-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132CW5W0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1253254 | PA      | $1182424.12   | 0.12%             | 2037-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWCC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6893911 | PA      | $5847061.26   | 0.61%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Southwestern Illinois Community College District No 522                 | SAINT CLAIR MADISON MONROE ETC CNTYS IL CMNTY CLG DIST                  | CUSIP: 85227XDT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $652878.20    | 0.07%             | 2029-12-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWES8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2012892 | PA      | $1962600.36   | 0.21%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DSKU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3128610 | PA      | $2542036.59   | 0.27%             | 2052-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| McKinney Economic Development Corp Sales Tax Revenue                    | McKinney Economic Development Corp. Sales Tax Revenue                   | CUSIP: 581655CW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $208622.20    | 0.02%             | 2033-09-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140W0SR7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1131579 | PA      | $1007367.15   | 0.11%             | 2051-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX                                                       | AUSTIN TX                                                               | CUSIP: 0523975W2<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   2285000 | PA      | $2265867.70   | 0.24%             | 2038-09-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                                                   | RIO TINTO FIN USA PLC                                                   | CUSIP: 76720AAU0<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |   3530000 | PA      | $3640100.70   | 0.38%             | 2035-03-14      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Vermont Housing Finance Agency                                          | VERMONT ST HSG FIN AGY                                                  | CUSIP: 924190N49<br>LEI: 549300RD7EYN90K0W008 | Long             | DBT              | MUN               | US        |    230000 | PA      | $236517.28    | 0.02%             | 2033-11-01      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| Lawton Industrial Development Authority                                 | LAWTON OK INDL DEV AUTH SALES TAX REVENUE                               | CUSIP: 521005AS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $399332.00    | 0.04%             | 2027-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XFG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4800843 | PA      | $4562079.87   | 0.48%             | 2052-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XDE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5022465 | PA      | $4908517.43   | 0.51%             | 2052-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania State University/The                                       | PENNSYLVANIA ST UNIV                                                    | CUSIP: 7092354T9<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |    350000 | PA      | $361030.95    | 0.04%             | 2036-09-01      | Fixed         | 5.09%                 | 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